Diversification and heterogeneity of investor beliefs

In the paper, we find that diversification reduces the heterogeneity of investor beliefs on firm value. We obtain this finding by comparing not only between diversified and focused firms but also between diversifying and non-diversifying mergers. We also find that the reduced heterogeneity of investor beliefs on a diversified firm relative to its focused peers is negatively associated with its contemporaneous excess value and positively associated with its future excess value. Overall, our results contribute to the understanding about how corporate organization structure affects the heterogeneity of investor beliefs and further firm value.     

新自由主义思潮的经济哲学批判

新自由主义经济学重要代表人物哈耶克与弗里德曼等人都以其经济学认识论与方法论而著称。在哈耶克的自发秩序原理和弗里德曼的货币主义理论中,个体人的自由行动构成为最基本的概念范畴,进而在自由竞争的市场体制下促成了资本主义的繁荣发展。随着二十世纪七十年代新自由主义的兴起及其全球化资本主义的盛行,其反思与批判成为了现代政治经济学的核心议题,并对马克思主义的时代发展具有重要比较意义。     

建构主义理论在《商务翻译》过程考核中的应用研究

本文通过对当前高职院校课程过程考核现状和弊端的分析,指出科学的过程考核应该是建立在建构主义的认知观、教学观和环境观基础上,学生、教师和工学结合企业等多元主体共同参与的双向沟通和协商的,学生自评、组内互评、组间互评、教师评价和工学结合企业评价等多元评价方式共同作用的多元考核形式.     

The Myths and Realities of Informal Financial Resources

Under the context of tightening macro-control polices,the financial problems of small and medium sized enterprises (SMEs) rise again.Many SMEs resorted to the informal financial resources,and some of the SMEs can't shoulder the huge financing pressure with the weakening economic activity and many bosses run out in Wenzhou etc.SMEs have the increasingly important role in ensuring the sustainable,healthy and stable development.In order to get closer views of financial problems of SMEs in Hainan,we made a survey of informal financial Resources.Here are some of the results of the survey.     

中小型人力资源服务公司公关策划探索

《中国人力资源服务业白皮书2010》表明,人力资源服务产业市场竞争主体呈现多元化趋势,竞争日趋激烈。中小型人力资源服务公司应将公关策划作为提升企业竞争力的重要战略举措,通过借势、借力、网络公关等手段来开展公关策划,促进企业发展。     

民办医学高校教学基地建设的影响因素浅析

民办医学高校教学基地建设是制约学校发展过程中存在的诸多难题之一,而这一难题在很大程度上关系到教育功能的实现。探析其影响因素,对民办医学院校破解发展难题具有现实意义。     

Franchisor–franchisee supply chain cooperation: Sharing of demand forecast information in high-tech industries

In order to maintain their competitive edges in the market, high-tech firms cannot simply rely on superior technology alone. In addition, due to rapid technological changes, market demands in the high-tech industries have become volatile and difficult to forecast. This study proposes an option (i.e. franchising) that high-tech firms can use in order to expand their markets and improve firm performance. We also utilize a Bayesian forecasting methodology in order to address information sharing between the franchisor and franchisee. Our study demonstrates how high-tech franchising firms can benefit from information sharing of demand forecasts when franchising in order to enhance franchise performance. We also show that a profit sharing mechanism that results in optimal profits for the franchisor and franchisee. The study fills the research gaps that currently exist in the franchising literature and provides important managerial implications for practitioners in B2B markets.     

纳米材料在化工生产中的应用

充满生机的二十一世纪,以知识经济为主旋律和推动力正引发一场新的工业革命,节省资源、合理利用能源、净化生存环境是这场工业革命的核心,纳米技术在生产方式和工作方式的变革中正发挥重要作用,它对化工行业产生的影响是无法估量的。这里主要介绍纳米材料在化工领域中的几种应用。     

从当代艺术生态现状考察艺术基金建立的可能

谁有资格来评论艺术生态?金融风暴来袭,艺术生态中每个链条好像都受到了影响。大家都不由自主的关注和关心起艺术生态中的结构问题。而对于结构问题,对我影响最为深刻的是高名潞先生的一个个人经验的介绍:由他策划组织的《OUT SIDE》     

日本农村公共产品供给制度分析

通过对日本农村公共产品供给状况和特点分析,认为政府、农协及民主的决策程序对农村公共产品供给影响重大.