Collusive Communication and Pricing Coordination in a Retail Gasoline Market

This paper studies how communication is used by a retail gasoline cartel in Australia to coordinate price increases, a role of communication in collusion not highlighted by Genesove and Mullin (Am Econ Rev 91(3): 379–398, 2001). A unique data set from the trial record allows for quantifying not only the pricing dynamics, but also the communication patterns. Both empirical and narrative evidence suggests the collusive communication and pricing behavior is well captured by the price cycle equilibrium of the Maskin and Tirole (Econometrica 56(3): 571–599, 1988) model.     

Attributive change in top management teams as a driver of strategic change

This study examines the role of top management team (TMT) member succession in breaking organizational inertia. We compare the impact of two types of change in TMTs—in member number and demographic heterogeneity—on subsequent strategic reorientation using data on the diversification activities of firms in the Japanese textile industry. Our findings suggest that executive succession does not trigger strategic change unless succession entails change in the values and interests of executives embedded in their demographic traits.

Europäische Klimapolitik: Zwischen Anspruch und Wirklichkeit

In order to restrict the risks of anthropogenic climate change to a ?tolerable“ extent, the fourth assessment report of the United Nations’ International Panel on Climate Change calls for a trend reversal towards globally decreasing greenhouse gas emissions within the next two decades which ultimately must lead to a reduction of carbon dioxide emissions until the mid of the century by 50 percent as compared to 2000 emission levels. The European Union claims a lead of a role in climate policy with the objective to push forward international negotiations on far-reaching emission reduction commitments with other important industrialized and developing regions. The EU’s credibility as a leading force will hinge crucially on how successfully it can fulfill its emission reduction obligations under the Kyoto Protocol by means of market-based environmental policy, in particular the exemplary operation of the EU emission trading system. Against this background, the following article provides a critical assessment of the EU’s climate policy.     

Knowledge management and innovation strategy in the Asia Pacific: Toward an institution-based view

The emergence of knowledge-intensive society has changed the nature of business competition. Knowledge management becomes an important managerial task and formulating a sound innovation strategy is an integral part of strategic management. Adopting an institution-based view, this article argues that the institutional environment in the Asia Pacific region plays a multi-faceted role behind firms’ knowledge management and innovation strategy. Specifically, institutions impose rules for legitimacy, serve as a source of knowledge, and allocate incentives and resources for innovation. We believe that future research drawing on the institution-based view has significant potential to advance our understanding of knowledge management and innovation strategy in Asia Pacific firms.

Developing theory from strategic management research in China

What are the main approaches to theory development based on strategic management research in China? What are some of the recent efforts in developing theory in this area? What is our recommended approach? To address these questions, this article outlines the three approaches to theory development in China research, articulates the Chinese context within the global economy, and highlights two streams of recent work as examples of following the recommended, integrative approach to theory development.     

Demographischer Wandel und dessen Auswirkungen auf den Energieverbrauch in Hamburg und Mecklenburg-Vorpommern

This study estimates the impact of demographic change on energy use in two German regions, Hamburg and Mecklenburg-Western Pomerania. Data from the EVS household survey are used to identify demographic characteristics and age-specific consumption patterns in the two regions. They are used in combination with regional household projections to construct consumption expenditure forecasts, which are then entered as demand impulses into regional input-out-put models to calculate sectoral production effects and energy use. The analysis shows that the impact of demographic change on energy use differs considerably between the two regions. Therefore, studies conducted at the national level may miss important effects, making it necessary to conduct more studies at the regional level.     

Der EU Richtlinienvorschlag für erneuerbare Energien — Eine Analyse der Transferrestriktionen von Herkunftsnachweisen

Until now the promotion of renewable energies in Europe has been effected on the basis of different promotion systems of the Member States. Currently the EU-wide harmonisation of the promotion systems, from which yields of efficiency and a higher effectiveness are expected, cannot be enforced due to a discordance concerning the “right” promotion instrument.With the proposal for a directive on the promotion of renewable energies, published at the 23. January in 2008, the European Commission attempts to make a first move towards harmonisation. Besides existing promotion systems it will be possible to transfer Guarantees of Origin for renewable energies between Member States. Since, however, some Member States expect negative effects as a consequence of opening their markets the proposal comprises opportunities to restrict the transfer. The present scope of interpretation within the proposal allows for different options concerning the design of the transfer restrictions. These will be identified, analysed, and subsequently evaluated in this article. Despite of both extreme options, the possibility to entirely opt out of the transfer system and the obligation to completely participate in the transfer system, two further hybrid options are discussed. The latter are characterised by the possibility of Member States to restrict the transfer of Guarantees of Origin to a certain extent through a “system of prior authorisation”.     

Incentive Mechanisms,Entrepreneurial Orientation,and Technology Commercialization: Evidence from China's Transitional Economy*

Scholars view entrepreneurial orientation as an essential element of high‐performing firms. The extant research has focused extensively on the construct development related to and performance implications of entrepreneurial orientation. Prior research has also identified the significant positive impact of entrepreneurial orientation on technology commercialization. The research community has, however, yet to examine critical antecedents of entrepreneurial orientation and to investigate relevant antecedents and consequences of entrepreneurial orientation in transitional settings such as that of China. Most Chinese firms are embracing significant changes in governance incentive mechanisms as China deepens the economic reform. The extant literature provides limited insight as to how incentive mechanisms such as chief executive officer (CEO) ownership and turnover may affect firm entrepreneurial orientation in China's transitional setting. Furthermore, given the significant changes and uncertainty in the market place, China provides an ideal laboratory to examine the influence of technological turbulence on the relationship between entrepreneurial orientation and technology commercialization. Aimed at filling in these glaring gaps, this study develops a conceptual model, with institutional theory as its underpinning, to examine the relationships among governance incentive mechanisms, entrepreneurial orientation, technological turbulence, and technology commercialization. The empirical results from a sample of 607 Chinese firms reveal several important findings. The CEO ownership has a significant positive effect on entrepreneurial orientation, and CEO turnover frequency has an inverse U curvilinear impact on entrepreneurial orientation. Furthermore, entrepreneurial orientation positively affects technology commercialization, with technological turbulence positively moderating this relationship. This study makes several important contributions. First, the present article brings into sharper focus the differing impacts of CEO ownership and CEO turnover on entrepreneurial orientation. The theoretical deliberation and empirical testing offer useful insights into the formation process of entrepreneurial orientation. Second, the examination of the moderating effect of technological turbulence provides additional richness to the extant literature. In addition, different from prior studies, this study was conducted under China's transitional economy context. By integrating unique institutional arrangements and the turbulent technological environment, two key characteristics of China's transitional economy setting, the study broadened and deepened understanding of key antecedents and consequences of entrepreneurial orientation. The article also discusses managerial implications of the findings and suggests directions for future research.     

Relationship stability, trust and relational risk in marketing channels: Evidence from China

This paper provides an integrated framework for examining effects of relationship stability and trust on relational risk and for exploring the moderating effects of guanxi on the relationships between trust and relational risk in marketing channels. The framework is tested with 225 dyads of questionnaires about buyer-supplier relationships in the Chinese household appliances sector. The results indicate that relationship length and dyadic solidarity can reduce the relational risk perceived by buyers through goodwill trust in their suppliers, but can increase the perceived relational risk through trust in their competence. Guanxi helps to weaken the positive relationship between a buyer's trust in suppliers' competence and its perceived relational risk, and dyadic solidarity can directly lower relational risk. This paper makes clear that buyers locked in a stable relationship will face relational risk, and it further identifies the specific variables which impact on the relational risk and the paths from which relational risk comes.     

工业缝纫线的性能分析

本文通过试验对不同规格的涤纶、丙纶、玻璃丝缝纫线的物理性能指标进行测试,运用灰色关联分析方法对测试结果进行综合分析,结果表明:弯曲强度、摩擦系数、断裂强力、断裂伸长、直径、公制支数、捻度、回潮率对缝纫线的性能影响依次减小。