A study of the impact of direct trade on Taiwan's fishery sector with special reference to the effect of China's WTO accession

After Taiwan became a member of the WTO in 2002, its tariff rates for fishery products decreased by an average of 35.5% from the level in 2001. Direct imports of fishery products from China would be allowed in 2004. These tariff reductions and the relaxation of import restrictions will have a strong effect on Taiwan's fishery sector. In this paper, we present an analysis of how fishery production, prices, input usage, and welfare distribution might react to trade liberalization. In addition to evaluating the overall impact of tariff reduction on Taiwan's fishery sector, we assess the effects of China's WTO accession on the Taiwanese market. We use a fishery sector equilibrium model in which 40 products and 68 fishing activities are identified. The model also includes an import–export subsector, a factor input subsector, and a supply–demand equilibrium condition to analyze the distributions of social welfare due to trade liberalization. Three simulations are conducted to investigate the impact of tariff reductions in 2004, 2 years after Taiwan has jointed the WTO. The results indicate that Taiwan's fishery sector will be adversely affected when it encounters the extremely low import prices of certain fishery products from China. The total production of the fishery sector and its value are predicted to decrease by 4.03% and 9.96%, respectively, in 2004. Aquaculture would suffer the heaviest loss with a 7.48% reduction in the production and a 19.23% reduction in its value. The demand for labor will decrease by 8.71%. The effect is most pronounced in aquaculture in which the demand for labor will go down by 11.40% and the wage rate will decline by 14.28%. To meet the challenge of globalization, the Taiwanese fishery industry will have to diversify, and improve its operational efficiency as well as production and distribution structures for a sustainable development.     

Stock prices and merger movements: Interactive relations

Zusammenfassung Die wechselseitigen Beziehungen zwischen Aktienkursen und Firmenzusammenschlüssen. - Der Aufsatz untersucht die Beziehungen zwischen Firmenzusammenschlüssen und makro?konomischen Variablen. Es werden Kausalit?tstests mit US-Daten der Periode 1919–1979 durchgeführt, die zeigen, da? Zusammenschlüsse und Aktienkurse in derselben Periode aufeinander einwirken und da? keine Lead- oder Lag-Beziehungen bestehen. Die Zeitreihenanalyse deutet darauf hin, da? die Reihe der Zusammenschlüsse einem autoregressiven Proze? 2. Ordnung folgt, die „random walk”-Hypothese also abzulehnen ist.

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Résumé Cours des actions et mouvements de fusion: Relations interactives. - Dans cet article l’auteur examine la relation entre des mouvements de fusion et des variables macro-économiques. Après avoir testé la causalité avec des données des E.U. pour la période 1919–1979, l’évidence démontre que l’activité de fusion et les cours des actions interagissent dans la même période et ne revèlent pas une relation d’avance ou à retard. L’analyse des séries chronologiques indique que la série de fusion suit un processus AR (2), refusant l’hypothèse de ?random walk?.

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Resumen Precios de valores bursátiles y la pauta de fusiones: relaciones interactivas. - En este trabajo se examina la relación entre la pauta de fusiones y variables macroeconómicas. Los resultados de tests de causalidad utilizando datos de los EE UU para el período 1919–1979 muestran que las fusiones y los precios de las acciones interactúan en forma comtemporánea y no revelan rezago o adelanto alguno. El análisis de series de tiempo indica que las series de fusiones responden a un proceso AR(2), lo cual significa un rechazo de la hipótesis del ?random walk?.

     

The research strategy in management of technological innovation

The increasing importance of technology in the application world has imposed high demand on the research community for insightful and useful principles about “management of technological innovation” (MTI). This paper examines the academic legacy in terms of conceptual categories, causal relationships and taxonomy of relevant systems, and asserts from a system perspective that MTI as an applied science is still in its infancy.Based on methodological argument, this paper warns of the danger of hasty compromise of strategically important topics to “popular” definition of “researchability,” and suggests several research guidelines and approaches for this young interdisciplinary discipline:

1. (1)To explore new frontiers, use “proximate variables,” consider contextual factors and causation in broad terms, conceptualize “independently,” and pay more attention to case study method.

2. (2)To understand driving forces, be aware of practice, and focus on internal dynamics.

3. (3)To transcend complexity, adopt a hierarchical structure perspective and state-and-flow concept, and condense findings into configurations.

Finally, this paper urges the formation of an overall research strategy to accelerate the accumulation of MTI grounded knowledge.     

Empirical analysis of dynamic correlations of stock returns: evidence from Chinese A-share and B-share markets

This paper examines the dynamic correlation structure between A-share and B-share stock returns based on three different measures of correlation coefficients. Testing the models by employing daily stock-return data for the period from 1996 through 2003, we reach the following empirical conclusions. First, the correlation coefficients between A-share and B-share stock returns are time varying. Second, the dynamic path of the correlation coefficients indicates that the correlation coefficients are significantly correlated with the trend factor. Third, there is a substantial spillover effect from the Asian crisis to Chinese stock-return dynamic correlations. Fourth, the evidence suggests that the time-varying correlations are significantly associated with excessive trading activity as measured by excessive trading volumes and high–low price differentials. Fifth, the correlation between A-share and B-share markets has increased since the relaxation of the restriction on B-share market investments by domestic investors.     

Estudio de la relación entre satisfacción laboral y el desempeño de los trabajadores de las ferias libres

This study analyzes and discloses the relationship between Job Satisfaction and Performance variables of a total population of 264 workers in Chilean Free Fairs. Out of the total population to which this research applies (264 individuals), the sample taken corresponds to 60% of each Fair, which is equivalent to 158 individuals. In order to obtain the objectives we applied a 54-item instrument. The first part collects general information about respondent; the second part collects average information of sales and salary to measure the workers’ productivity and the third part studies job satisfaction. Once performed the analysis of data collected, the results show that the dimensions of job satisfaction, boss relationship satisfaction and recognition satisfaction have a statistically significant relationship with productivity: daily sales/daily working hours. Good management of these can positively contribute to an increased competitiveness of Free Fairs. Another outstanding aspect included in this study is satisfaction with the physical environment, which has a statistically significant relationship between daily and monthly salary, which significantly contributes to the hours spent at work by individuals as well as the wage they perceive.     

The impact of non-neutral federal regulatory policy on competition

We present a duopoly competition model to illustrate how the simultaneous incorporation of two US federal regulatory programs negatively affected telecommunications competition during the past decade. Our model shows that the simultaneous implementation of the Universal Service Fund policy that grants subsidies to incumbent telecommunications providers serving in high-cost areas, and the carrier of last resort policy that mandates incumbents to provide service in under-served geographic areas, deters competitive entry in low-cost markets and thereby runs counter to the objectives for which the policies were intended. This model provides a theoretical explanation of a failure of federal policy.     

Establishment and application of fuzzy decision rules: an empirical case of the air passenger market in Taiwan

This paper develops a framework for creating fuzzy decision rules by socio‐economic variables, transactional record variables and customer benefit variables. Fuzzy decision rules may be applied on marketing systems of businesses. This research uses fuzzy k‐means algorithm and C4.5 decision tree algorithm to generate fuzzy decision rules. The framework is applied on the air passenger market of Taiwan for an empirical case study. Results of this research found two non‐fuzzy (crisp) decision rules and two fuzzy decision rules, which can be applied on the customer relationship management systems of airlines. Copyright © 2010 John Wiley & Sons, Ltd.