Nonlinear Taylor rules in Central Eastern European countries

This study applies sequential panel selection method (SPSM), proposed by Chortareas and Kapetanios (2009) Chortareas, G., and G. Kapetanios. 2009. “Getting PPP Right: Identifying Mean-Reverting Real Exchange Rates in Panels.” Journal of Banking and Finance 33: 390–404.[Crossref], [Web of Science ®] , [Google Scholar], to investigate to test the validity of Taylor rules to assess the nonstationary properties of the convergence of the real exchange rates for 10 Central Eastern European countries. The SPSM can be used to decompose a panel of real exchange rate series into two groups: a group of stationary series and a group of nonstationary series. We identify the stationary processes in the panel and demonstrate that Taylor rules holds for 7 of the 10 countries studied. These results imply that the choices and effectiveness of the monetary policies in Central Eastern European economies are highly influenced by external factors originating from the United States. Additionally, our findings highlight that their real exchange rate convergence is a mean reversion toward equilibrium values of Taylor rules in a nonlinear manner.     

Is exchange rate stability beneficial for stabilizing consumer prices in China?

This study examines the relationship between real effective exchange rates (REERs) and the consumer price index (CPI) in China, utilizing a bootstrap Granger full-sample causality test and a sub-sample rolling-window estimation. Considering structural changes, we assess the stability of the parameters and find that both the short-run and long-run relationships between the two estimated variables are unstable. This result suggests that full-sample causality tests cannot be relied upon. We instead employ a time-varying (bootstrap) rolling-window approach to revisit the dynamic causal relationship, and we find that the CPI is affected by the REER for several sub-samples due to the role of exchange rate pass-through (ERPT) under the managed floating exchange rate regime in China. These findings provide further proof of the impact of stable exchange rates on the maintenance of relatively steady price levels especially during the economic crisis and economic reform in China. The policy implication of these findings is that maintaining exchange rate stability is beneficial for controlling inflation during the economic crisis and economic reform.     

The Effects of Victim Anonymity on Unethical Behavior

We theorize that victim anonymity is an important factor in ethical decision making, such that actors engage in more self-interested and unethical behaviors toward anonymous victims than they do toward identifiable victims. Three experiments provided empirical support for this argument. In Study 1, participants withheld more life-saving products from anonymous than from identifiable victims. In Study 2, participants allocated a sum of payment more unfairly when interacting with an anonymous than with an identifiable partner. Finally, in Study 3, participants cheated more from an anonymous than from an identifiable person. Anticipated guilt fully mediated these effects in all three studies. Taken together, our research suggests that anonymous victims may be more likely to incur unethical treatment, which could explain many unethical business behaviors.     

Promotion and Prevention Contracts in Industry Level Firm to Firm Dyad

ABSTRACT

Purpose

This article aims to introduce and distinguish two features of contract design – prevention and promotion contracts – and compares their effects on opportunism within the distributor–supplier relationship. It also examines the moderating role of ex post contract enforcement strategies.     

Demand-following or supply-leading? Trade openness and financial development in China

This study explores the causal relationship between financial development and trade openness in China, using the research methodology namely bootstrap Granger full-sample causality test and sub-sample rolling-window estimation. The results reveal that there is a significant bidirectional relationship between financial development and trade openness in China, pointing out the existence of both ‘demand-following’ and ‘supply-leading’ hypotheses. Furthermore, their relationship fits well the fact that China has experienced economic restructuring and structural changes in the past few decades. As financial development improves trade openness robustly, the Chinese policymakers should further increase financial reform to promote trade development.     

Mobile Commerce Website Success: Antecedents of Consumer Satisfaction and Purchase Intention

With the rapid development of apparel mobile commerce in the United States, more companies view mobile commerce as a new source of competitive advantage. Despite the importance of apparel mobile website quality and its effect on consumer satisfaction and future purchase stimulus, extant research has paid little attention to these topics. This study proposes a website quality–consumer satisfaction–purchase intention research model based on the self-regulatory process theory. Six dimensions of apparel mobile website quality—website visual appeal, apparel visual appeal, brand trust, website information quality, website response time, and website security—were investigated. In all, 293 eligible responses were collected via an online survey. Multiple regression analysis was utilized to test the proposed relationships. Results reveal that website information quality, website visual appeal, apparel visual appeal, and website security positively affect consumer satisfaction toward apparel mobile commerce websites, while website response time and brand trust show insignificant impacts on consumer satisfaction. With higher satisfaction on an apparel mobile commerce website, consumers are more likely to purchase apparel through the website.     

The Doctrine of the Mean: Workplace Relationships and Turnover Intention

The present study examines the curvilinear relationships between LMX/TMX and team members' turnover intention simultaneously. That is, members with high LMX, TMX, or both are more likely to have turnover intention. Hypotheses were tested with a sample of 452 nurses, and we adopted the response surface methodology and polynomial regression to test our theoretical model. The hierarchical regression analysis showed that TMX has a U‐shaped relationship with turnover intention but not with LMX. In addition, the results indicate that both the congruence and incongruence of LMX and TMX result in higher turnover intention, but moderate levels of LMX and TMX have the lowest turnover intention. Strengths, limitations, practical implications, and directions for future research are discussed. Copyright © 2018 ASAC. Published by John Wiley & Sons, Ltd.     

物流企业票据贴现业务会计处理分析

票据贴现是物流企业较为常见的业务,但因其账务处理复杂,导致会计实务中存在混乱现象。2006年我国出台新企业会计准则以后,对应收票据贴现业务也做出了新的规定,按照金融资产的核算原则进行处理。本文以例解的方式,对物流企业应收票据贴现业务的不同处理方法进行深入分析比较,其中重点分析了商业承兑汇票贴现的两种不同会计处理方法,比较不同方法的利弊,加强人们对新准则的理解和认识,以期更好地指导物流企业会计实务。     

延迟策略在冷链物流中的应用研究

近年来随着低温产品的逐渐普及,冷链物流引起广泛关注.本文从冷链物流的概念出发,结合冷链物流的特点,着重分析了如何将延迟策略应用于较一般常温物流系统更加复杂的冷链物流系统中,并提出了延迟策略在冷链物流中的具体实现方式.在冷链物流中应用延迟策略既可以降低物流成本、缩短提前期,又能更好地满足顾客的差别化需求,降低不确定性,从而提高整个冷链物流的竞争力.研究表明当前我国冷链物流采用延迟策略是切实可行的.     

光接收机原理及常见故障分析

本文简要介绍了光接收机工作原理及使用中应注意的一些问题,并结合实际对常见故障进行分析.