Social choice and electoral competition in the general spatial model

This paper extends the theory of the core, the uncovered set, and the related undominated set to a general set of alternatives and an arbitrary measure space of voters. We investigate the properties of social preferences generated by simple games; we extend results on generic emptiness of the core; we prove the general nonemptiness of the uncovered and undominated sets; and we prove the upper hemicontinuity of these correspondences when the voters’ preferences are such that the core is nonempty and externally stable. Finally, we give conditions under which the undominated set is lower hemicontinuous.     

The Determination of the Equilibrium Exchange Rate in a Simple General Equilibrium Model

In this article, we develop an analytical general equilibrium model of the equilibrium exchange rate for emerging countries. This theoretical framework allows us to identify a relevant set of variables which determinate the equilibrium exchange rate and to explore how these variables influence the trajectory of the equilibrium exchange rate.     

应急医用物资运输的路径设计

对应急医用物资的"最后一公里"的配送问题进行了定量的研究。由于紧急情况发生时,费用问题已经不是很重要,时间才是进行路径设计时首先要考虑的事,因此根据"时间第一、兼顾其他"的原则,同时考虑紧急事件发生地的路况对路径选择的影响,引入了一个基于时间和费用的多目标优化的模型。     

The optimal capital structure of the firm with stable Lévy assets returns

This article builds a new structural default model under the assumption that a firm’s assets return follows a dynamics displaying jumps of both signs. In essence, we expand the work of Hilberink and Rogers (itself an extension of the Leland and Toft framework), which deals only with negative jumps. In contrast, we make use of stable Lévy processes, and we compute the values of the firm, debt and equity under this assumption. Theoretical credit spreads can also be obtained in our framework. They prove to be consistent with the empirical credit spreads observed in financial markets.      

The Impact of Conviction for Anti‐Competitive Practices on Firm Valuation: A Contingency Approach

The previous research on the impact of anti‐competitive practices on firm valuation has shown conflicting results. To explain these conflicting results, we introduce three contingency factors: the amount of the fine, the degree of company involvement, and the company size. To test the impact of these factors, an event study is conducted on a sample of 305 confirmed cases in Europe between 1998 and 2007. The results show that the impact of conviction for anti‐competitive practice is greater when the relative amount of the fine is high, the company's degree of involvement is high, and the company is small. Copyright © 2016 John Wiley & Sons, Ltd.     

The Role and Current Status of IFRS in the Completion of National Accounting Rules – Evidence from France

Abstract

In France, the European accounting directive has been implemented via a decree and a ministerial order, issued without any public consultation and which led to an amendment of the Commercial Code and three regulations released by the Autorité des normes comptables, the French standard-setter. Our analysis of those texts reveals that none of them refer to International Financial Reporting Standards (IFRS). We did not find evidence of any reference to IFRS from the Autorité des marches financiers, the French market regulator, in its decisions on the right application of French Generally Accepted Accounting Principles by listed companies. Hence, IFRS seem to have played a minor role in the recent modification of French regulations resulting from the implementation of the European accounting directive.     

Firm innovation persistence: a fresh look at the frameworks of analysis

This paper introduces the special issue on innovation persistence. It delineates three complementary theoretical frameworks assessing drivers and implications of innovation persistence: ‘knowledge accumulation’ approach, the ‘success-breeds-success’ hypothesis and the concept of sunk costs in R&D activities. It emphasizes how path dependence could be related to innovation persistence. It provides an extensive overview of the main empirical findings of recent papers and suggests a new research agenda about firms’ dynamic capabilities and innovation persistence. Finally it highlights a set of issues that deserve further investigation in the future. The contributions to this issue are set out as well.     

绿色食品区域优势品牌发展对策研究——以黑龙江省为例

绿色食品品牌竞争日益加剧,通过对绿色食品品牌的区域核心价值的强化,赋予其与众不同的品牌附加内涵,从而促进绿色食品区域优势的品牌形成。