基于GIS与AHP法的河南省经济格局时空分异研究

［目的］研究区域经济格局对揭示经济发展空间演变机制和实现区域可持续发展具有重要的意义。文章以粮食生产核心区——河南省为例,通过定量刻画其济格局时空分异特征,明确河南省经济格局的发展态势和演化特征,为河南省经济发展提供参考。［方法］文章采用GIS空间分析和AHP方法,通过建立经济评价指标体系,基于2010—2015年河南省的统计年鉴数据评价其经济格局分异特征。［结果］（1）总体上,河南省国民生产总值持续增长,经济发展持续向好,但经济增速逐年放缓。（2）河南省经济空间格局先后经历了“八”字形、“一”字形演变特征,并逐步形成以郑州为中心的“十”字形经济空间格局。（3）全省中高经济发展水平城市数量增多,各地市经济发展的差异逐步缩小。［结论］河南省经济内部差异呈下降趋势,全域经济带动效益开始显现,应强化城市辐射效应,并加强对更小尺度经济格局演变的研究。     

Effect of ownership structure on underinvestment and overinvestment: empirical evidence from Spain

This paper investigates how ownership affects the investment‐cash flow sensitivity by taking into account the non‐linearities of ownership with respect to firm value, and using a free cash flow index and a criterion for financial constraints to disentangle underinvestment and overinvestment. Interesting results are provided by estimating using the Generalized Method of Moments to eliminate the endogeneity problem. The alignment of interests between owners and managers and the monitoring by concentrated ownership both alleviate the sensitivity of investment to cash flow both in underinvestor and overinvestor firms. However, in the presence of controlling owners, underinvestment and overinvestment are exacerbated.     

China trade: Busting gravity's bounds

Since China's accession to the World Trade Organization in 2001, annual growth rates of its imports and exports have increased, and raised tensions between China and some of its major trading partners. Using a gravity model of trade, we find that China's orientation toward foreign trade is much greater than expected for an economy of its size and level of development. Our analysis shows that China's excessive orientation toward foreign trade (“over-trading”) varies substantially across countries and we consider various explanations for the over-trading. A comparison of China's export boom with the earlier export booms of more market-based East and Southeast Asian economies shows that China's export boom has exceeded earlier booms in magnitude but not in duration. We conclude with a discussion of the likely scale of future export and import flows from and to China.     

The Basic Analytics of Access to Financial Services

Access to financial services, or rather the lack thereof, is often indiscriminately decried as problem in many developing countries. This paper argues that the “problem of access” should rather be analyzed by identifying different demand and supply constraints. We use the concept of an access possibilities frontier, drawn for a given set of state variables, to distinguish between cases where a financial system settles below the constrained optimum, cases where this constrained optimum is too low, and—in credit services—cases where the observed outcome is excessively high. We distinguish between payment and savings services and fixed intermediation costs, on the one hand, and lending services and different sources of credit risk, on the other hand. We include both supply and demand side frictions that can lead to lower access. The analysis helps identify bankable and banked population, the binding constraint to close the gap between the two, and policies to prudently expand the bankable population. This new conceptual framework can inform the debate on adequate policies to expand access to financial services and can serve as basis for an informed measurement of access.     

ASSESSING THE ASSESSMENT OR,THE RAE AND THE OPTIMAL ORGANIZATION OF UNIVERSITY RESEARCH

The UK Research Assessment Exercise (RAE) is assessed as an incentive scheme affecting the allocation of research talent of varying ‘quality’ across departments. The ‘centres of excellence’ policy implicitly pursued through the RAE is an optimal allocation strategy only if all departments in all disciplines are of the generalist variety, i.e. each pursues a research path through all its stages. Conversely, the RAE‐induced research allocation minimizes efficiency if applied to specialist departments, when resources are concentrated on one specific research obstacle. It is argued that the RAE should not take the organization of University research as exogenous, but rather should encourage specialization. All results are obtained by applying to University research concepts and solutions borrowed from the mathematical theory of systems reliability.     

Beyond high tech: early adopters of open innovation in other industries

Companies have historically invested in large research and development departments to drive innovation and provide sustainable growth. This model, however, is eroding due to a number of factors. What is emerging is a more open model, where companies recognize that not all good ideas will come from inside the organization and not all good ideas created within the organization can be successfully marketed internally. To date, Open Innovation concepts have been regarded as relevant primarily to 'high-technology' industries, with examples that include Lucent, 3Com, IBM, Intel and Millenium Pharmaceuticals. In this article, we identify organizations in industries outside 'high technology' that are early adopters of the concept. Our findings demonstrate that many Open Innovation concepts are already in use in a wide range of industries. We document practices that appear to assist organizations adopting these concepts, and discover that Open Innovation is not ipso facto a recipe for outsourcing R&D. We conclude that Open Innovation has utility as a paradigm for industrial innovation beyond high tech to more traditional and mature industries.     

Enlarging and/or deepening the community

Developments in Eastern Europe have forced the EC to reconsider its goal of European union. German reunification and the end of East-West conflict and the division of Europe have given rise to two antagonistic schools of thought. One argues in favour of strengthened integration in order to accommodate a united Germany in the EC; the other implies an opening up of the EC to those countries wishing to join the Twelve. In order to pass beyond the enlargement/deepening dilemma the EC has attempted to implement a strategy whose success is still uncertain. The debate over enlargement is highlighting differences of opinion between and within member states over the objectives of European union.     

Monitoring Accounts Payables

In creating shareholder value, one objective of management is to increase the speed of cash inflows and reduce the speed of cash outflows. To accomplish this task, management must understand the relationships that cause accounts receivable and accounts payable to change. The paper expands a receivable monitoring model by Gentry and De La Garza to incorporate the causes of changes in payables. Several examples are developed to show the operation of the model. The three primary contributions of the paper are (a) developing algorithms that measure the causes of changes in payables, plus an interpretation for each set of conditions; (b) showing that a present value approach to monitoring payables is superior to a recommended accounting approach based on variance analysis; (c) finally, presenting an approach for ranking the performance of payable and receivable strategies.