中国的设备投资与经济开放

从传统的Solow增长模型的视角看,资本积累与政府政策对于经济的长期增长都是无效的.但是从内生增长理论的视角看,资本积累(特别是设备投资)和经济开放程度都是长期经济增长最重要的决定因素.长期以来,中国保持高速持续发展的策略主要集中于在市场化进程和贸易开放进程中鼓励投资,以及最近实行的鼓励出口,这一策略允许从更为发达的国家进口研发密集型的机器设备.在这个背景下,本文的目的在于探讨设备投资与出口是否如内生增长理论模型所言对经济增长具有长期的效应,或者相反,如传统的增长模型所言对中国的经济增长没有解释力.除此之外,我们还检验了设备投资、出口和产出在长期和短期的本质联系.在方法上,我们采用了协整VAR模型.我们的发现为设备投资和出口都是导致中国过去数十年中高速发展的重要因素这一观点提供了证据.     

An analytic hierarchy process for ranking operating costs of low cost and full service airlines

This paper develops an application of the analytic hierarchy process to rank the operating cost components of full service and low cost airlines. It takes into account the financial balance sheets and answers to a questionnaire submitted to the managers of selected airlines. The results suggest that the analytic hierarchy process can be appropriately used to obtain the ranking of the costs taking into account different views: financial, management and operative. Rental, office equipment and other supplies costs show the highest importance in the cost ranking, both for full services and low cost airlines. The robustness of the results is tested by Monte Carlo analysis.     

Building pragmatist theories of PM practice: Theorizing the act of project management

This article examines project management through the lens of practice. Drawing on the literature, we develop a typological model that brings together four distinct theoretical types of project management practice. Adopting a deliberately critical perspective, we show that the first three types propose a weak conception of the logical relationship between the theory and practice of project management. In contrast, the fourth type, anchored in a pragmatist conception of the theory‐practice link, provides the potential to build strong theories of project management practice. A specific objective is to elucidate the distinct features of the fourth type of theory.     

Testing the impact of a promotional video on destination image change: application of China as a tourism destination

This study empirically examines the potential effects of a promotional video on the image change of China as a travel destination. The analysis is based on an experimental study conducted among young, international short‐term employees in the USA. Despite positive changes in almost all the destination attributes as a result of watching the promotional video, the structure of the image constructs remains fairly stable, providing critical insights on the potential role of publicity campaigns in affecting destination images. Results of the study reveal that China's image consists of mixed and often contrasting representations, especially the polarity of modernisation and progress versus nature and history. It was found that the dominant factor affecting the respondents' behavioural intentions was the cultural and nature tourism dimension. Although other image dimensions exhibit influence as well, findings of this study suggest that perceived value should be a strategic focus in promoting China as a desirable travel destination, in addition to culture and nature tourism. This paper ends with conclusions and implications for both research on destination image and destination marketing in China. Copyright © 2009 John Wiley & Sons, Ltd.     

NPO branding: preliminary lessons from major players

• Are nonprofits (NPOs) exhibiting the brand orientation believed to be critical to successful outcomes? To answer this question, we investigate the brand orientation and brand management of the Young Men's Christian Association (YMCA), American Red Cross (ARC), and The Salvation Army to assess the implementation of brand concepts in two different locations within the USA compared to each agency's central body. Despite the support of some propositions, there exists inconsistent evidence of strong brand management in the organizations studied. The variation of brand visuals, missions, and taglines indicates that good structure, policy, and guidelines are not enough. There must be true brand orientation, which includes oversight of consistent application of all brand constructs to achieve organizational goals. This study provides a framework upon which future in‐depth empirical research may be based. The authors outline these next steps as a foundation for enhancing the study and practice of brand management in NPOs.

Copyright © 2009 John Wiley & Sons, Ltd.     

“One of these days,things are going to change!” How do you make sense of market disruption?

The significance of mindsets is apparent in everyday business life. As today’s managers and companies face uncertainty and disruptive change in the business environment and markets, there is a growing need to understand and strategically address such change. This becomes challenging when disruptive market forces confront the institutional logic or rules of the game based on collectively acquired experience of doing business in the given field. In overcoming such challenges, managers’ hidden reasoning remains an untapped potential while their existing mindset influences what they attend to and what they decide to do. This article elaborates a diagnostic framework, accompanied by a tool to help managers make sense of disruptive markets and reflect individually and collectively on possible courses of action. The framework has two principal dimensions—strategic scope and focus—that are further divided into three business elements of strategic market-oriented management: offering, customer, and market. The tool offers a practical means of profiling individuals’ mindsets. In increasingly dynamic business environments, reflection capabilities represent a new source of competitive advantage.     

Macroeconomic shocks and stock market returns: the case of Korea

This study examines the effects of macroeconomic shocks on key macro variables, including stock market returns in Korea, using the structural vector autoregression (SVAR) model. We suggest a three-variable SVAR model incorporating inflation, output growth and stock returns. We adopt a nonzero z-ratio restriction for the long-run identifying assumption to allow for economically meaningful relationships among variables. While our results support the negative (positive) relation of demand (supply) shocks to stock returns, we also find that demand shocks influence stock market variance more significantly than supply shocks do. The sub-period analysis finds that global market fluctuations during the global financial crisis have relatively little effect on Korean stock market performance. We also examine a generalized five-variable model that includes the foreign exchange rate and interest rate, confirming the results from the three-variable case.