Steven S. Lui  Hang‐yue Ngo 《Journal of Management Studies》2005,42(6):1123-1153

abstract An action pattern model was developed and applied to the examination of inter‐firm cooperative processes. The model considered cooperation as a continuous cycle of actions and reactions between cooperating partners. The building blocks of the model include cooperative equilibrium, disruptive events, action types and action patterns. Three action pattern variables were proposed to describe the interactions. It was hypothesized that action patterns are contingent on partner relationships and the transaction cost characteristics of a partnership. The hypotheses were tested on a sample of 263 partnerships in the construction industry in Hong Kong. The quantitative study was supplemented by four in‐depth case studies. The results show that: (1) trust was an important antecedent of action patterns; and (2) transaction cost variables moderate the relationships between partner relationships and action patterns. These findings suggest that future research should give more attention to the interaction of partners during cooperation.  相似文献   

    

Brian S. Klaas  Hyeuksueng Yang  Tom Gainey  John A. Mcclendon 《人力资源管理》2005,44(4):433-448

Within small businesses, organizational leaders are themselves often responsible for the HR function, an area where they typically have limited training and experience. Not surprisingly, small business leaders have raised concerns about the quality of HR programs in their firms and the fact that HR consumes scarce managerial time. While professional employer organizations (PEOs) emerged in response to such concerns, much controversy exists as to whether and how small businesses benefit from PEO utilization. Using a survey of more than 740 small businesses, we examine the relationship between PEO utilization and two key small business outcomes: managerial time required by HR activities and satisfaction with HR outcomes. Our results indicate that firms not using a PEO reported significantly lower levels of satisfaction with HR outcomes than firms that used a PEO for a limited set of transactional services and firms that used a PEO for both transactional and strategic HR services. Among firms using a PEO, satisfaction with HR outcomes was significantly higher among firms that obtained a broader set of transactional and strategic HR services. Firms that used a PEO also reported that HR consumed significantly less managerial time relative to leaders in firms that made no use of a PEO. However, there was no significant difference in the time demanded by HR between firms that used a limited set of transactional services and those that used a broader range of transactional and strategic services. Implications for the role of PEOs and their use within small businesses are discussed. © 2005 Wiley Periodicals, Inc.  相似文献   

    

J. Hof  S. Davies  T. Baltic   《Socio》1998,32(4):295-308

This paper estimates production functions for environmental outputs (measured with condition indicators) from forest and rangelands at the national scale. A particular production structure is discussed for this purpose, and two approaches to handling the spatial nature of the data are investigated. Improved explanatory power appears to result from “kriging” the data into a uniform grid of observations, as opposed to aggregating the data into the lowest common unit (in this case, counties). The equations themselves are also discussed, and elasticities are utilized to interpret independent variable effects that include levels and interactions terms.  相似文献   

    

Eric Ghysels  Robert E. McCulloch  Ruey S. Tsay 《Journal of Applied Econometrics》1998,13(2):129-143

We present a general class of nonlinear time-series Markov regime-switching models for seasonal data which may exhibit periodic features in the hidden Markov process as well as in the laws of motion in each of the regimes. This class of models allows for non-trivial dependencies between seasonal, cyclical and long-term patterns in the data. To overcome the computational burden we adopt a Bayesian approach to estimation and inference. This paper contains two empirical examples as illustration, one uses housing starts data while the other employs US post-Second World War industrial production. © 1998 John Wiley & Sons, Ltd.  相似文献   

    

Peter S. Sephton 《Journal of Applied Econometrics》1998,13(2):203-207

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Murray S. Akresh  Barbara S. Bald 《Journal of Corporate Accounting & Finance》1997,8(2):115-122

Companies have begun to reassess how they value pension plan assets for expense measurement. The authors discuss how to value plan assets, contrast various market-related value (MRV) approaches, and suggest guidelines for a management action plan.  相似文献   

    

Charles A. Stone  Anne Zissu 《实用企业财务杂志》1997,10(1):72-78

Asset backed commercial paper, or ABCP for short, is commercial paper that is issued by a special purpose corporation against undivided interests in corporate receivables, including retail, trade, or export receivables. Since the inception of the market in 1983, the volume of ABCP has grown to represent about 16% of the total commercial paper market.
ABCP is a valuable source of liquidity for companies that generate a steady flow of quality receivables. Many ABCP programs restrict purchases to companies with investment grade ratings. For such companies, ABCP may help diversify funding sources and allow the firms to lower their funding costs by arbitraging different markets. But ABCP programs can also prove a low-cost source of funding for companies that either do not have access to the CP market through their own balance sheets or have used up their prime CP and bank borrowing capacity. ABCP is also an important source of funds for smaller companies requiring liquidity to support rapid growth.
ABCP programs can be viewed as \"synthetic\" revolving bank credit facilities in the sense that they can provide the same flow of funds as revolving credits by using a vehicle constructed specifically to refinance pools of receivables. The benefits of ABCP relative to bank lines of credit may take the form of either lower interest rates, less restrictive financial covenants, or both. Although ABCP is at best a partial substitute for bank credit, the liquidity provided by an asset backed commercial paper program can be used to hold down the costs of bank borrowing.  相似文献   

    

GORDON Y.N. TANG  RAYMOND S.K. LEE 《Asia-Pacific Financial Markets》1997,4(1):75-96

Little attention has been paid in the literature to the impact of different investment horizons on the portfolio compositiondespite its importance to portfolio managers. One exception isthe study by Gunthorpe and Levy (1994) on the U.S. stock market.Our paper extends the same study to the stock markets of Japan,Hong Kong and Korea. Using 40 individual stocks in each market,our results support those of Gunthorpe and Levy (1994) in thatthe composition of an optimal portfolio depends heavily on theinvestment horizon. When the investment horizon lengthens, theproportion of defensive stocks becomes larger while that ofaggressive stocks becomes smaller.  相似文献   

    

Geraldine S. Lake 《人力资源管理》1997,36(2):293-294

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Jeffrey S. Zax 《Journal of urban economics》1997,42(3):377-401

A new micro-data set demonstrates that, in urban China, own-built dwellings are 75% larger than state-owned dwellings. A switching regression with endogenous switching demonstrates that families with less privileged positions in the Chinese economy are more likely to inhabit own-built housing. The relationships between family characteristics and dwelling sizes in the own-built and state-owned sectors differ dramatically. However, unobserved characteristics, probably includingguanxi, play crucial roles in both. Depending on these characteristics, families in state-owned dwellings might have two-thirds more living space were they to choose own-built dwellings.  相似文献