The best way of bilateral special economic zone to Sino-Vietnam economic cooperation

The Bilateral Special Economic Zones is a new idea about economic co-operation ways. It is going to be set by both countries with a common boundary for promoting the economic co-operation between two sides. It can be firstly set along the boundary between China and Vietnam. It will promote the economic co-operation between them, but China and ASEAN. It can be set along the Chinese boundary with the neighboring countries and will promote the economic co-operation between the both sides for setting up a better environment around China.     

The Wealth Effect of Domestic Joint Ventures: Evidence from Taiwan

This study presents important international evidence by examining the wealth effect of domestic joint ventures by Taiwanese firms. In opposite to United States evidence, we find that announcements of domestic joint ventures by Taiwanese firms are, on average, associated with significantly negative abnormal stock returns. We also find that the stock market response to announced domestic joint ventures is significantly positively related to the announcing firms' investment opportunities, size of investment and debt ratio, and is significantly negatively related to the business relatedness variable. In contrast, free cash flow, firm size, relative firm size and managerial ownership are found to have no significant power in explaining the market response. Our results support the investment opportunities, synergy and complementarity hypotheses as well as a broad interpretation of the free cash flow hypothesis, but reject the absolute size, relative size and alignment-of-interests hypotheses. This study makes valuable contributions to the literature by providing the first direct evidence on the role of investment opportunities, synergy and alignment-of-interests in explaining the wealth effect of domestic joint ventures     

The “swing of the pendulum” from public to market support for science and technology: Is the U.S. leading the way?

The structure and financing of science and technology activities are undergoing a slow, but profound, change. This change can be briefly characterized as a shift from relying and supporting public science to a stronger emphasis on “market-based” incentives for science and technology. In this paper we analyze this shift in a historical perspective, discussing both the theoretical explanations and the empirical trends of the ongoing change. While we do not claim to provide a comprehensive and exhaustive identification of the causes of this shift, we argue that it is largely driven by the perception of a shift of the U.S. policy towards market-based, rather than publicly supported, incentives for science and technology. This, in turn—given the strong economic performance of the United States over the 1990s—has influenced policies in most OECD countries, especially in Europe.We conclude by analyzing the evolution of research in U.S. higher education and find two major trends: an increasing diversity in the number of institutions of different types other than universities and a steady and continuous public funding of the leading U.S. universities. This has allowed the construction of an infrastructure now used largely by the private sector, but it also noted that the United States has not compromised public support for core areas or in those fields in which there is a clear perception that market incentives are not sufficient for meeting the strategic targets of the U.S. policy. The implication is that there is a considerable policy diversity in the U.S. practice and that all aspects of this diversity should be considered when using the United States as a reference.     

Price Commitment versus Flexibility: the Role of Exchange Rate Uncertainty and its Implications for Exchange Rate Passthrough

The paper investigates the incentives to commit price or retain price flexibility in a model in which exporting firms face different degrees of exchange rate uncertainty. The result shows that introducing exchange rate uncertainty can lead to the endogenous emergence of a unique leader–follower equilibrium; which firm emerges as price leader depends on the substitutability of products, the magnitude of exchange rate uncertainty, and the cost structure. This study may provide one explanation as to why some exporters set price before the realization of the nominal exchange rates (“sticky price”). The results imply exchange rate variability affects exchange rate passthrough.     

Taxation, growth, and the spirit of capitalism

This paper uses a general two-sector model of endogenous growth to examine how the spirit of capitalism affects the relation between public finance and growth. The spirit of capitalism is defined as acquisitive personal objectives. We find that if the spirit of capitalism is present, an increase in the share of government spending in output reduces the long-run growth rate. The negative relationship between fiscal spending and growth is consistent with empirical evidence.     

A note on “Bed allocation techniques based on census data”

Capacity planning and resource allocation are crucial to the cost-effective delivery of health care services. In this paper, we present an analytic approach based on a modified version of the Holt-Winters multiplicative seasonality forecasting model to determine the frequency distribution associated with a hospital care unit's census. This paper is a follow-up to the census frequency distribution simulation model described in Lapierre et al. (Socio Econ. Plan. Sci. 33 (1999) 25). We demonstrate that our model can provide census frequency distributions equivalent to the simulation model of Lapierre et al. [1], but without the computational effort common to simulation models.     

Strategizing through analyzing and influencing the network horizon

How does a firm keep on being valuable in a network? One requirement is that the firm has a sufficient overview of the network and its dynamics. In other words, a firm's strategy depends on the firm's overview of the network—its network horizon. How comprehensive or limited should its network horizon be? Is it necessary to know the network beyond the direct counterparts? Such issues have not received much attention. In this article, we discuss network horizons and argue that limited network horizons are both inevitable and useful. However, such myopia requires that a firm's counterparts effectively and efficiently mediate between the firm and the rest of the network. Based on a case study, we introduce and discuss three mediating functions of counterparts: a joining, a relating, and an insulating function, and we claim that in order to support a firm's strategizing, managers need to analyze and influence counterparts' mediating functions and thereby the firm's network horizon.     

中国负债知多少？

【美国《华尔街日报》7月23日】中国的隐性债务可能成为一大麻烦。     

Multiple generation product life cycle predictions using a novel two-stage fuzzy piecewise regression analysis method

Product life cycle (PLC) prediction plays a crucial role in strategic planning and policy definition for high-technology products. Forecast methodologies which can predict PLCs accurately can help to achieve successful strategic decision-making, forecasting, and foresight activities in high-technology firms, research institutes, governments, and universities. Over the past few decades, even though analytic framework strategies have been proposed for production, marketing, R&D (research and development), and finance, aiming at each stage of PLCs, forecast methodologies with which to predict PLCs are few. The purpose of this research is to develop a novel forecast methodology to allow for predictions of product life time (PLT) and the annual shipment of products during the entire PLC of multiple generation products. A novel two-stage fuzzy piecewise regression analysis method is proposed in this paper. In the first stage, the product life-time of the specific generation to be analyzed will be predicted by the fuzzy piecewise regression line that is derived based upon the product life-time of earlier generations. In the second stage of the forecast methodology, the annual shipment of products of the specified generation will be predicted by deriving annual fuzzy regression lines for each generation, based upon the historical data on the earlier generations' products. An empirical study predicting the life-time and the annual shipment of the 16 Mb (Mega bit) DRAM (Dynamic Random Access Memory) PLC is illustrated to validate the analytical process. The results demonstrate that two-stage fuzzy piecewise regression analysis can predict multiple generation PLT and PLC precisely, thereby serving as a foundation for future strategic planning, policy definitions and foresights.