制药企业落败战略因素解析

回顾近20年中国企业发展的历史,我们发现有些企业寿命很短,衰落很快,有人概括说,“巨人”倒下了,“太阳”落山了,“爱多”失恋了,“三株”入土了,“飞龙”折翅了,“秦池”酒干了。相比之下,国外有些公司寿命却很长。如劳力士至今己有220年的历史,杜邦也有200多年的历史,宝洁、麦当劳、雀巢这些企业也都有100多年的历史。当然,也不是说国外企业个个长寿,国内企业家家命薄。但总的是,我国规模大的、知名度高的企业,长寿的还真是寥若晨星。姜伟、吴炳新、怀汉新等创业者昔日曾经光芒四射,     

Technical Efficiency of the Brazilian Municipalities: Correcting Nonparametric Frontier Measurements for Outliers

In this paper we estimate the DEA technical efficiency for 4796 Brazilian municipalities, by applying a recently proposed “Jackstrap” method, which combines Bootstrap and Jackknife resampling techniques, to reduce the effect of outliers and possible errors in the data set. We perform calculations to identify and eliminate high leverage municipalities, using different variants of Data Envelopment Analysis (DEA), as well as Free Disposal Hull (FDH). Corroborating previous results, efficiency results for the Brazilian municipalities show a clear relationship between the size of the municipality and its efficiency scores. Indeed, under both DEA variants, smaller cities tend to be less efficient than larger ones hence indicating that the quality of the frontier adjustment improves significantly as the size of the municipality increases. We present arguments that may explain to some extent these findings, such as economies of scale and the excess spending due to revenue from royalties. However, such effects require further, more careful examination.     

Market Morality: Robert Nozick and the Question of Economic Justice

A bstract . The study of markets and market prices has been a central feature of economic inquiry since the 18th Century. There have always been lingering questions on the meaning of market prices. Most moderneconomists argue that there are no normative implications to price analysis. The disclaimers of some economists about normative judgments ring hollow in the light of their vigorous advocacy of free market solutions to economic and other problems. Either free market solutions are superior alternatives or they are not; one cannot have a value free analysis and an ideological advocacy at the same time. The philosopher, Robert Nozick, in Anarchy, State, and Utopia , clearly finds meaning in the market place. His entitlement theory is predicated upon free exchange of goods and productive services. The normative use of free markets in general and of Robert Nozick's formulation in particular, it is contended, are inconsistent, illogical, and unscientific.     

THE ENTREPRENEURIAL PERSONALITY: A PERSON AT THE CROSSROADS

Abstract This paper reviews the concept of entrepreneurship and empirical studies of entrepreneurial behaviour patterns. In addition, it explores the social, economic and psychodynamic forces influencing entrepreneurship. A conceptualization of the entrepreneurial personality is proposed. Finally, the organizational impact of these entrepreneurial behaviour patterns on work environment and management succession is discussed.     

The Governance of a Fragile Eurozone

When entering a monetary union, member countries change the nature of their sovereign debt in a fundamental way; that is, they cease to have control over the currency in which their debt is issued. As a result, financial markets can force these countries’ sovereigns into defaulting. This makes the monetary union fragile and vulnerable to changing market sentiments. It also makes it possible that self‐fulfilling multiple equilibria arise. I analyse the implications of this fragility for the governance of the Eurozone. I argue that the role of the European Central Bank as a lender of last resort is crucial in reducing the fragility of the Eurozone. In addition, steps towards a budgetary union are key in structurally strengthening the union.     

Bank–firms topology in Italy

An empirical analysis of the Italian system of banks and firms is carried out using the network theory. The emerging architecture of this economic network shows peculiar behaviors: (i) Multiple lending is very widespread; (ii) Small firms are preferentially financed by small banks; (iii) Large firms are financed by many banks; (iv) the ratio between loans and deposits is much higher for large banks than for small banks, while (v) strong size heterogeneity appears among co-financing banks, and (vi) the spanning-tree is very hierarchical.