Estimations of cost metafrontier Malmquist productivity index: using international tourism hotels in Taiwan as an example

This study introduces a novel way of calculating and analyzing cost metafrontier Malmquist productivity index model (CMMPI) under variable return to scale measurement. The CMMPI which reflects operational performance more comprehensively and determine ways of enhancing future competiveness, not only estimates efficiency change but also decomposes gap ratio thus enabling the decision making unit to differentiate group frontier from metafrontier within the broad definition of “catch-up.” Empirical results show that the CMMPI of international tourism hotels in Taiwan declined by 0.9% from 2002 to 2010 mainly because of the deterioration of meta-technical efficiency change, meta-allocative efficiency change, meta-cost scale efficiency change, and the meta-input price effect change. Empirical results suggest that the completeness of cost approach is useful for exploring the characteristics of the Taiwanese international tourism hotel industry. Moreover, the international chain hotel is significantly superior to independent hotels in meta-cost efficiency, meta-technical efficiency, and meta-allocative efficiency, and several managerial insights and implications are discussed.     

Noneconomic effects of ethnic entrepreneurship: A focused look at the Chinese and Korean enclave economies in Los Angeles

In this article, we aim to develop a conceptual framework from a community perspective to examine the noneconomic effects of ethnic entrepreneurship, paying close attention to the linkage between entrepreneurship and community building. We base our analysis on ethnographic data from our comparative case studies of the Chinese and Korean enclave economies in Los Angeles. We argue that it is the social embeddedness of entrepreneurship, rather than individual entrepreneurs per se, that creates a unique social environment conducive to upward social mobility. This study suggests that ethnic entrepreneurship plays a pivotal role in immigrant adaptation beyond observable economic gains. Policy implications are discussed. © 2010 Wiley Periodicals, Inc.     

Measuring Interactions among Urbanization, Land Use Regulations, and Public Finance

This article presents a polychotomous choice-selectivity model to estimate the interactions among urbanization, land use regulations, and public finance in five western states (California, Idaho, Nevada, Oregon, and Washington). Land use regulations in these five states reduced the total developed area by an estimated 12.2% from 1982 to 1992, but increased housing prices between 1.3% and 4.7%, depending on the intensity of land use regulations in a county. Land use regulations also reduced public expenditure and property tax in the long run by 5.6% and 8.4%, respectively, but increased public expenditure and property tax in the short run by 9.8% and 12.6%.     

The relative importance of old and new decision specific experience in foreign ownership strategies: an exploratory study

In this paper, we examine the relative importance of old and recent decision specific experience for MNC's foreign ownership structure decision. Using established procedures to measure decision specific experience construct, we find, from data for Japanese MNCs for the period 1969–1991, empirical evidence that firms tend to rely on both old and recent decision specific experiences for their current ownership structure decision, but that they rely more on recent decision specific experience than on old decision specific experience, contrary to the conventional organizational learning view on the temporal importance of decision specific experience. Sub-sample analysis involving developed and developing countries indicates that both old and new decision specific experience are important for both groups of countries, but old (new) decision specific experience is marginally more important for investments made in developing (developed) countries.     

Relationship between innovativeness,quality, growth,profitability, and market value

The purpose of this study is to examine the relationship between innovativeness, quality, growth, profitability, and market value at the firm level. Building on concepts from a resource‐based view of a firm and organizational learning, innovation and quality literature, we propose the innovativeness–quality–performance model, which describes how a firm's capability to balance innovativeness with quality drives growth and profitability, and in turn drives superior market value. Results of structural equation models indicate that (1) innovativeness mediates the relationship between quality and growth, (2) quality mediates the relationship between innovativeness and profitability, (3) both innovativeness and quality have mediation effects on market value, and (4) both growth and profitability have mediation effects on market value. Implications for theories and practices are discussed. Copyright © 2005 John Wiley & Sons, Ltd.     

The Deaton paradox in a long memory context with structural breaks

This article contributes to the Permanent Income Hypothesis (PIH) and excess consumption smoothness debate in the context of fractional integration. We show that the excess consumption smoothness result is a consequence of the quarterly data frequency commonly employed in the empirical work. In fact, the I(1) hypothesis is rejected for the income process with monthly data in favour of a fractional integration order lower than 1. Moreover, if a structural break is taken into account, we observe a substantial reduction in the degree of consumption smoothness, especially after the break found in 1975.     

SPATIALLY-VARYING EFFECTS OF REZONING ON HOUSING PRICE

A hedonic price equation is estimated at the parcel level to capture the spatially-varying effects of rezoning on housing prices using a geographically weighted regression - spatial autoregressive error model (GWR-SEM). The empirical results highlight a number of points. Firstly, the positive amenities from rezoning to office use act as a buffer and transition the zones between single family housing to commercial zones near downtown areas may be applicable to approving the same kind of rezoning in other areas. Secondly, when approving rezoning from agriculture to residential or commercial use, it may be necessary to anticipate the positive amenities from rezoning in less well-off neighborhoods and the negative amenities from rezoning in well-off neighborhoods. Thirdly, the positive amenities from well-designed open space preservation districts may encourage county planners to consider similar types of projects in the future.     

欧洲工商管理学院（INSEAD）信任背后的“魔鬼”

信任是好事,但好事太多也会变成坏事。麦道夫骗局堪称华尔街的惊天大丑闻,它生动地诠释了信任过度与误导所能导致的最严重后果。     

韩中两国物流网现状及发展可能性

韩中两国自1992年建交以来,在政治、经济、文化、社会等各领域的合作都取得了举世瞩目的成果,韩中物流发展存在很大的空间.