The role of investment banks on the impact of firm performance in mergers and acquisitions: evidence from the Asia-Pacific market

This study uses a comprehensive sample of 5271 bidders during the period of 1995–2011 to examine the role of financial advisors on the outcomes of mergers and acquisitions in the Asia Pacific market. The results indicate that bidders take more time to complete deals when hiring tier-3 advisors. In addition, the empirical evidence indicates that bidders obtain higher announcement returns when hiring low reputation financial advisors. The results are robust when controlling for year effects, country effects and self-selection bias. In addition, the regression analysis also reveals that bidders obtain lower post-announcement returns when hiring tier-1 advisors in domestic deals. Thus, the empirical findings illustrate the importance of the quality of financial advisors on firm performance in mergers and acquisitions in the Asia Pacific market.     

Employability and Wage Compensation in an Asian Economy: Evidence for Female College Graduates in Taiwan

The purpose of this study is to analyze the influence of employability skills on wage compensation for female college graduates in Taiwan. We find that employability skills can explain some variation in wage compensation whether we include conventional human capital variables or not. For example, the career management skills category exhibits a consistent and significant influence on wage compensation and could raise the earnings level by 5–6 percent. In addition, employability skills have more diverse effects on wage compensation across various occupations, while conventional human capital variables are shown to have more consistent effects on wage compensation across occupations.     

组织结构与全要素生产率——基于企业员工配置的视角

为探究组织结构与全要素生产率的内在作用机理,文章选择2010-2019年全部A股上市公司为对象,研究发现:分散的组织结构可以提高企业全要素生产率,且主要通过降低代理成本和提高资源配置效率两条路径实现,良好的内部控制可以强化两者的作用效果,而较高的员工知识水平却弱化了两者的作用效果;最后,本文检验发现企业可以通过适当缩减生产人员,增加非生产人员,优化企业员工配置,提高企业全要素生产率。     

无线网络中谈判解的协作带宽分配策略

为了促使无线网络中的“自私”节点参与合作，提出了谈判解协作带宽分配（CBA）策略，解决了节点间采用交换带宽资源协作传输，彼此以多大带宽中继对方数据的问题。首先，将两个节点的协作带宽分配问题建模为合作博弈中的谈判过程；之后，采用拉格朗日乘数法得到两个用户的纳什谈判解（NBS）协作带宽分配；其次，提出了一种新的Kalai-Smorodinsky谈判解（KSBS）协作带宽分配策略；最后，对两种谈判解协作带宽分配策略的公平性进行了研究。仿真表明，KSBS协作带宽分配策略和NBS协作带宽分配策略对提升用户效用的作用基本相同，但KSBS策略比NBS策略更为公平。     

控股股东股权质押压力与企业创新粉饰

控股股东股权质押已经成为资本市场的重要现象，如何全面理解股权质押是学术界的焦点。区别于以往研究仅关注质押数量，文章基于手工整理的初始质押股票价格，度量股权质押压力，研究其对创新“粉饰”的影响。以2008—2018年A股上市公司为样本，本文研究发现，股权质押压力越大，企业通过创新粉饰提升股价的现象越严重；在平仓风险更高、企业经营压力越大时，股权质押压力对创新粉饰的影响更强。文章从一个全新的视角分析股权质押的重要影响，为纾解股权质押风险、推动创新强国建设提供政策依据。     

Residents' Attitudes Toward Rural Tourism in Taiwan: a Comparative Viewpoint

In this study, we first conclude two main patterns – community‐based rural tourism and theme farm – of rural tourism in Taiwan, then investigate and compare the impacts of rural tourism perceived by the residents, the frequency and quality of tourists‐residents interaction, and residents' attitudes toward rural tourism of the two chosen areas. Moreover, we discuss and conclude the differences of two patterns in terms of economic, socio‐cultural, and environmental impacts. As a whole, the development of rural tourism gains highly supports in both areas. Copyright © 2011 John Wiley & Sons, Ltd.     

HPLC法同时测定薄荷配方颗粒中6种成分的含量

为了提高薄荷配方颗粒的质量标准,建立其多指标定量评价体系,采用HPLC法同时测定薄荷配方颗粒中咖啡酸、橙皮苷、迷迭香酸、香叶木苷、香蜂草苷和蒙花苷6种成分的含量.采用Poroshell 120 EC-C18(4.6 mm×250 mm,5μm)色谱柱,以甲醇(A)-乙腈(B)-5％冰乙酸(C)为流动相,梯度洗脱,流速为...