Antecedents of retailer loyalty: Simultaneously investigating channel push and consumer pull effects

This study includes information technology (IT) related industries as the focus and aims to examine the antecedents of retailer loyalty toward brand owners by simultaneously investigating push and pull effects in the channel system. The study interviews 274 independent retailers who sell IT related products to end consumers. The results show that the retailer perceived value of selling the brand owner's products plays a pivotal role in promoting their loyalty toward the brand owners. Retailer loyalty toward brand owners comes directly from brand owners' push efforts, and indirectly from pull effects. Additionally, the specific asset invested by each party (brand owners, retailers, and customers) strengthens the relationship within each other in the channel system.     

农户人际关系网络结构、交易成本与违约倾向

在契约型农产品交易关系稳定性的研究中,很少有学者关注到社会网络因素对交易关系的影响.本文以农户与农产品收购企业之间的契约型交易关系为研究对象,运用结构方程模型检验了农户人际关系网络结构特征对农户交易成本及其违约倾向的影响.研究结果表明:农户人际关系网络密度对农户的信息成本和监督成本具有显著的负向影响,而农户人际关系网络中心性对农户的信息成本和监督成本具有显著的正向影响;农户信息成本和监督成本的增加会显著增强农户的违约倾向.     

分销密度与品牌宽度:渠道权力的二重均衡

本文利用渠道权力理论深入解析了企业分销密度决策中产生的渠道权力的二重均衡现象:即二元渠道关系中制造商与中间商通过分销密度与品牌宽度选择性程度的交换达成的权力均衡,以及产业中主要生产企业及其主要分销企业共同联结形成的渠道关系网络中权力结构的总体均衡.渠道关系网络中的任何一对二元渠道关系中的分销密度和品牌宽度选择性程度发生变动,或造成等同后果的行为发生,都会引起整个网络中原本相对均衡的权力结构失衡,从而对网络中企业之间的渠道关系造成影响.     

Pricing mortgage insurance contracts under housing price cycles with jump risk: evidence from the U.K. housing market

Previous studies have investigated the determinants of housing price cycles in the housing market; however, we observed the phenomenon of housing price jumps in the 2007 subprime crisis. This paper presents a discussion on the housing price cycle and abnormal price jumps to describe the behavior of housing prices in the United Kingdom. The empirical results show that the impact factors of housing cycles are market risk and the switching factor. Furthermore, the impact factors of jump risks include the bursting of the housing bubble and financial crises. Therefore, in this paper, we employ the Markov switching model with jump risks to value the MI contracts and analyze the influences of housing price cycles, jump risks, risks of market interest rate, and the prepayment risks on MI premiums. The results of sensitivity analysis show that more volatile housing price index returns, as well as longer periods of higher volatility in housing prices, raise MI premiums. Moreover, the MI premium is positively related to the absolute value of the average jump amplitude and the shock frequency of abnormal events. There is the tradeoff between the market interest rate and the prepayment risk. The influences of market interest rate are different on MI premium with/without prepayment risks.     

Effects of Employees' Uniform on Company Image and Employees' Self-perceptions and Customers' Perceptions

The purpose of the study is to investigate how different styles of employee uniforms affect customers' perceptions of the hotel image and employees' self-perceptions. The results of the study indicated a significant relationship between uniforms and employees' job performance. Significance also existed between employees' job satisfaction and styles of uniform. A significant relationship between styles of uniform and customers' perception of employee performance was found as well.     

面向郑州航空经济综合实验区的郑州物流企业应对策略研究

2013年3月7日,郑州航空经济综合实验区获国务院批复,成为国内首个获批的国家级航空经济实验区,这无疑给郑州航空物流业务的发展带来新的契机,但也给郑州物流企业带来了不小的挑战.文章正是在这样的背景下深入分析郑州航空物流发展的现状,指出郑州市物流企业面临的机遇与挑战,最后提出郑州物流企业应改变物流观念、调整业务模式、转变运输方式,积极参与航空物流竞争,以期促进郑州航空物流业务的发展.     

高技术企业的权变治理、管理者更替与企业永续发展

高技术企业的治理与规范化公司的治理存在很大的差异,甚至是本质上的差异。这种差异主要来自于高技术企业的人力资本价值和团队合作价值。但从企业长期发展来看,高技术企业必须平衡权威治理和企业永续发展的关系问题。本文运用企业权力主体竞争力模型分析高技术企业控制权结构,剖析了高技术企业的“两人治理结构”现象,揭示出保持高技术企业永续发展的两大主题——权变治理和管理者更替问题。     

The Impact of Short-Sales Constraints on Liquidity and the Liquidity–Return Relations

Baker and Stein's (2004) model predicts that individual stock liquidity, commonality in liquidity across stocks, the contemporaneous correlation between stock returns and liquidity, and the degree of high liquidity associated with low subsequent stock returns decrease in the absence of short-sales constraints relative to in the presence. To test these theoretical predictions, we examine both the component stocks of the Taiwan 50 index and other nonindex stocks for the sample period before and after the removal of short-sales constraints on the former and use trading turnover and Amihud's (2002) illiquidity ratio as the measure of liquidity to proxy for investor sentiment. Overall, our empirical results are consistent with these theoretical predictions and therefore provide evidence in support of Baker and Stein's (2004) model.     

Ergodic properties of conditional forecast functions of stable systems

Summary This paper analyzes the behavior of conditional forecast functions in stable systems. We study convergence of optimal forecast functions, of forecast functions obtained by conditioning on previous values, and conditional and joint densities.The research was done as part of the author's master thesis under Mordecai Kurz. The author thanks Mordecai Kurz, Carsten Nielsen, and Ho-Mou Wu for a careful reading of the paper and the Statistics Department of Stanford University for financial support. This research was supported in part by Fondazione ENI Enrico Mattei of Milan, Italy.