Balancing the trade-off between learning prospects and spillover risks: MNC subsidiaries’ vertical linkage patterns in developed countries

This paper investigates local vertical linkages of foreign subsidiaries and the dual role of such linkages as conduits for learning as well as potential channels for spillovers to competitors. On the basis of data from 97 subsidiaries, we analyze the quality of such linkages under varying levels of competition and subsidiary capabilities. Our theoretical development and the results from the analysis document a far more complex and dynamic relationship between levels of competition and MNCs’ local participation in knowledge intensive activities, i.e. learning and spillovers, than previous studies do. We find a curvilinear relationship between the extent of competitive pressure and the quality of local linkages confirming our argument of a trade-off between learning prospects and spillover risks. Furthermore, the level of subsidiary capabilities moderates this relationship.     

Maximum Likelihood Estimation in Panels with Incidental Trends

It is shown that the maximum likelihood estimator of a local to unity parameter can be consistently estimated with panel data when the cross-section observations are independent. Consistency applies when there are no deterministic trends or when there is a homogeneous deterministic trend in the panel model. When there are heterogeneous deterministic trends the panel MLE of the local to unity parameter is inconsistent. This outcome provides a new instance of inconsistent ML estimation in dynamic panels, and, unlike earlier results of this type, applies when both T →∞ and N →∞.     

农产品讨价还价行为：尼日利亚奥甘州牛肉零售定价案例研究

对市场上的商品缺乏标准的度量和分级是发展中国家（如尼日利亚）农产品市场的一个主要特征。由此导致价格标签很少被使用，事实上也很难实施。在尼日利亚的大部分地区，农产品和非农产品的批发和零售价格都是由激烈的讨价还价所决定的。分级和商品质量的随意性，意味着价格可能无意地被一些不相干的因素影响。在尼日利亚商品交换过程的研究方面，很少有对商品讨价还价行为进行实证研究的。本文的主要研究目的在于：①从市场期间、买方特征和性别等方面，比较牛肉零售价格的形成方式；②估计牛肉价格形成与所考虑的决定因素之间的关系。研究在四个独立的城市市场进行，研究结果表明，针对不同性别的买方，买方价格和卖方价格的形成方式没有差异；针对不同着装的买方（特征），在讨价还价中的方式也没有差异；但讨价还价的时间在统计上则显著影响。统计上来看，多数零售价格变量的平均值早晨比晚上较大。     

Morgan Systems,Inc.: Application of Six Sigma to the finance function

This teaching case is based on a Six Sigma project undertaken by a subsidiary of a Fortune 100 company to improve its quarterly financial-reporting process. It is presented as a six-phase Problem-Based Learning (PBL) unfolding problem. The first five phases correspond to the stages of the Define–Measure–Analyze–Improve–Control (DMAIC) model, a process-improvement methodology used extensively in Six Sigma. The sixth phase focuses on Six Sigma as a way of doing business.     

Sarbanes-Oxley and the Future of Accounting

Following the Enron debacle, massive public pressure led the United States government to enact the Sarbanes-Oxley Act of 2002. While this act was intended to protect investors and improve the accuracy and reliability of corporate disclosures, it also contained provisions which could have a major impact on the public accounting profession in the United States. It is possible that these effects could extend to Australia, where the public accounting profession is also subject to scrutiny following revelations of corporate misconduct. This paper explores the provisions of the Sarbanes-Oxley Act relating to the accounting profession, the reaction of the profession and possible ramifications for public accounting in Australia.     

Business Ethics Index: Latin America

For almost 10 years, the Business Ethics Index (BEI) has measured consumers’ perceptions of business ethical behavior in the USA and numerous other countries. This article expands the BEI to five Latin American countries (Brazil, Bolivia, Mexico, Argentina, and Colombia). The BEI of Argentina and Bolivia were similar in magnitude to the USA, whereas those for Brazil, Colombia, and Mexico were distinctly higher. The component sub-indices showed divergent patterns. The major ethical concerns for Brazil and Bolivia concerned service, whereas Mexico and Argentina complained about overpricing.     

中国非正规经济(上)

第八届开放时代论坛于2010年10月16日至17日在北京大学召开。本届论坛由北京大学中国社会与发展研究中心、开放时代杂志社和北京大学社会学系联合举办,主题为"中国非正规经济"。规模庞大的"非正规经济"本为发展中国家的普遍现象,然而在中国这一作为世界上最大的发展中国家的发展经验广为世人瞩目之际,中国的"非正规经济"却并未得到相应的重视与研究。摆脱主流经济理论和"现代化"模式的误导,摒弃意识形态的争执,正视中国非正规经济的现实,从"社会保护"和"人本发展"的角度,探讨人道、经济、可持续的中国发展之路,乃为本届论坛主题设立的缘起与主旨。本届论坛涉及的议题包括:中国发展与非正规经济实践、非正规经济与非正规就业、非正规经济与社会流动、非正规经济与社会发展等。以下专题根据现场录音整理,并经发言者阅校和编辑删节,小标题为编者所拟。由于篇幅所限,本刊将分两期发表本届论坛的研讨内容。