Rural development through industrial clustering： A case study from China

In recent years, as cluster theory evolves and more countries and regions implement industrial stimulation policies rooted in cluster theory, empirical research on industry clusters has likewise gained momentum. With the spread of clusters and regions instituting cluster policies, cluster formation has come to be seen as a promising tool for regional development. However, compared with industrial clusters in general, rural development clusters exhibit a higher level of diversity, namely in the purposes behind their formation, the parties that participate in or operate them, and the conditions in which they are formed. In terms of China, there is a considerable degree of diversity in clusters related to agriculture and rural communities depending on the particular sub-sector, the leaders of the sector, the socioeconomic conditions of the particular region, and other factors. For this reason, rather than the clusters themselves, in this research, we focused on cluster initiatives （CI）, i.e. the efforts to facilitate regional cluster growth and competitiveness. Firstly, we conducted a brief survey of previous studies of clusters. Secondly, we analyzed the effects of industrial clustering on rural economy in China econometrically. Thirdly, we examined the cases of vegetable cluster in Shanghai and the naturally colored cotton and hops cluster in the Xinjiang Uyghur Autonomous Region. By concluding the above-mentioned analysis, we finally explored the potential and outstanding issues for rural development using cluster initiatives models.     

圣诞节，寻找浪漫餐厅

一千个人,有一千种面庞,一千种浪漫。2009年圣诞节,就让我们在北京的城南巷北一起寻找最浪漫的餐厅。相约佳处,美味、美酒和美景一个都不能少。希望读者能在我们为您推荐的餐厅中留下美好的回忆。     

When Beauty Backfires: The Effects of Server Attractiveness on Consumer Taste Perceptions

The current research tests whether and how being in the presence of attractive individuals alters consumers’ evaluations of their expected dining experience and the taste of the products consumed. Our results uncover a novel phenomenon in the domains of physical attractiveness and taste perception: attractiveness does indeed impact taste perception, but its influence varies as a function of the valence of the food consumed. When the server is attractive, good food tastes better but bad food tastes worse. Six studies demonstrate this effect and, importantly, show that it occurs for male, but not female consumers and only if the male consumers are low in need for cognition. The implications of this work and potential avenues for additional research are discussed.     

Ten Highlights for the Central Economic Work Conference

The Central Economic Work Conference is the barometer for the macro-economy in which the economic work of previous year is summarized,the current economic situation is analyzed and work for next year is planned.What are the major highlights for the Central Economic Work Conference that closed at the end of 2019?     

Outcome-based contracts as new business model: The role of partnership and value-driven relational assets

This paper investigates the new business model of outcome-based contracts where the firm is tasked to achieve outcomes of equipment as a service contract instead of the traditional maintenance, repair and overhaul activities (e.g., power-by-the-hour® engine service contract). Through a qualitative study of two outcome-based contracts between BAE Systems, MBDA and the UK Ministry of Defence, we derive three value drivers of information, material and people transformation. Mapping it with transaction cost literature we propose five relational assets based on the value drivers; three value-driven alignments and two partnership inputs. We then study the relationships between the relational assets and contract performance through a quantitative survey by applying the partial least square (PLS) method. Our study shows that behavioral and information alignments are important to achieve outcomes. However, material and equipment alignment (i.e., joint supply chain) does not have a significant effect on contract performance. In addition, perceived control and empowerment mediated the relationship between partnership inputs and value-driven alignments. Our study provides a more integrated view of how various theoretical management domains overlap in the understanding of business models, and contribute to the understanding of value drivers and partnership factors in achieving performance in outcome-based contracts.     

Advantage Amnesia

The dot-com crash exposed a business phenomenon - "advantage amnesia", the state of becoming entangled in the Internet stampede at the expense of the basics of competitive advantage. It led many managers to lose sight of how to leverage their traditional competitive advantages in order to gain new-economy success. But now we can refresh our memories.     

Power, satisfaction, and relationship commitment in Chinese store-tenant relationship and their impact on performance

Managing the distribution channel is a key concern to firms operating in the world's largest developing economy. This study examines channel exchange relationships in China using data on department stores’ relationship with their tenants. The power-satisfaction-commitment-performance framework was used as a basis for the study. Department stores’ contingent use of coercive power was found to have little or no effect on their tenants’ economic and social satisfaction, which suggests that coercive power is perceived as ‘legitimate’ by small and medium-sized retailers in China. Tenants’ behavior towards power also reflects a subtle difference in channel member behavior, which reflects the differences between China's collectivistic culture and the individualistic culture in many Western countries. This study adds to the existing knowledge on channel behavior in Chinese cultural setting. In addition, it tests the degree of cross-cultural generalization of established channel constructs. It also provides managerial insights on channel relationship management in China's market.     

Call Warrant Listing and the Behavior of its Underlying Spot Market: Some Evidence from Bursa Malaysia

This study investigates the call warrant listing impact on its underlying stock based on Malaysian stock market. The study indicates that call warrant listing has no significant impact on the return, volatility, and bid-ask spread of its underlying stock. However, its trading volume tends to be higher in the post event period. The results suggest that (1) the diversion of trade from spot to warrant market is nonexistent, (2) call warrant does not expand the opportunity set for investors, (3) it is fair to use historical data in volatility estimation for the purpose of asset pricing based on Malaysian context.     

Do extrinsic cues affect purchase risk at international e-tailers: The mediating effect of perceived e-tailer service quality

The inherent nature of the international e-tailing environment leads to the consideration of purchase risk. In this study, an attempt is made to investigate the effect of three extrinsic cues, e-tailer brand equity, Country-Of-e-tailers (COE) and guarantee quality, within such an environment in Taiwan. The research findings support the proposed hypotheses that these exogenous factors affect a mediator, i.e., perceived e-tailer service quality, which in turn affects purchase risk perceived by online shoppers in a borderless marketplace. In conclusion, managerial implications of the research results as well as future research directions are presented and discussed.