Nonlinear effects of government debt on private consumption: Evidence from OECD countries

This paper investigates nonlinear effects of government debt on private consumption. The estimated consumption function shows smooth regime switching depending on the debt-to-GDP ratio, and a higher level of government debt crowds out private consumption to a greater extent.     

Parent country nationals or local nationals for executive positions in foreign affiliates: An empirical study of Japanese affiliates in Korea

This study examines how the host country experience of Japanese multinational corporations (MNCs) affects their staffing policies for executive manager positions at foreign affiliates. Hypotheses on executive staffing policies for foreign affiliates are tested using survey data collected from 103 Japanese affiliates in Korea. Findings show that the level of global integration and the degree of centralization of decision-making positively affect an assignment of parent country nationals as executive managers of foreign affiliates. We further find that foreign affiliates’ experience in a host country moderates the effects of both global integration and centralization on staffing decisions for the affiliates.

Impact of the Internet on interorganizational relationships

The Internet brings enormous advantages to organizations in the forms of standardization, power of networks, and inexpensive operations. Past decade has seen an increase in cooperative relationships among organizations. Despite the acknowledgment of the impact of the Internet on interorganizational relationships (IORs), there is a paucity of empirical research in this area, particularly for service firms, with regard to their entire life cycle. Using a field-based survey, in cooperation with the Gallup Organization, this study empirically examines some of the effects of the Internet on different stages of the life cycle of IORs. Based on the data collected from 206 firms (majority small service firms with less than 500 employees), results of our study show that the Internet has effected every stage of IOR life cycle, has increased the frequency and opportunities to find new partners, has affected the selection criteria that they use finding to select new partners, has improved the quality of relationships with existing partners, and increased the partnership performance. These effects though were not the same for different types of partnerships. The research found that the Internet has had the greatest effect for medium-level integration types of partnerships, which include non-equity strategic alliances and networks.     

我国主要生态功能区绿色农业发展模式研究

文章在简述我国生态功能区体系的基础上,分析了水源涵养功能区、防风固沙功能区、生物多样性功能区、农产品供给功能区农业发展面临的问题,并根据一定的原则,提出了不同生态区域绿色农业发展的模式.     

射频识别技术在汽车生产现场二级仓库中的应用

分析了条形码作为信息载体在汽车生产现场二级仓库应用中存在的不足。RFID技术的发展及应用,为进一步解决仓库作业问题提供新的方法;提出利用RFID技术与条码技术在仓库中的综合应用方案,达到优势互补、扬长避短的效果。     

Why Credit Rating Agencies Exist

Although credit rating agencies exist and are important to the capital markets, there remains a question of why they should exist. Two standard theories are that rating agencies correct a problem of information asymmetry and that they de facto regulate investments. These theories do not fully answer the question. This paper suggests an alternative explanation. While rating agencies produce little new information, they sort information available in the credit market. This sorting function is needed due to the large volume of information in the credit market. Sorting facilitates better credit analysis and investment selection, but bond investors or a cooperative of them cannot easily replicate this function. Outside of their information intermediary and regulatory roles, rating agencies serve a useful market purpose even if credit ratings inherently provide little new information. This alternative explanation has policy implications for the regulation of the industry.     

卫星信号全数字解调器的研制

全数字解调是当前数字传输领域的应用热点。本文首先对全数字解调器的概念和特点、载波和定量同步算法进行了概述，然后针对一种QPSK调制方式的卫星信号，设计并实现了零中频结构的全数字解调器。     

THE BROKERAGE FIRM EFFECT IN HERDING: EVIDENCE FROM INDONESIA

We examine herding behavior of domestic and foreign investors in the Indonesian stock market. We document that both domestic and foreign investors from a particular brokerage firm tend to herd. The foreign investors exhibit a greater propensity to herd than domestic investors. However, when examining investor trading across brokerage firms, we find only weak evidence of herding by domestic investors and no herding by foreign investors. Our overall findings suggest a strong brokerage firm effect on herding but a weak marketwide effect. Moreover, we find evidence that the strong brokerage effect on herding is likely driven by acting on common information.