中国背景下的全球品牌:洞察中国消费者的决策(英文)

本文探究了与全球十大品牌相关的中国消费者决策。通过四个层面(品牌熟悉度、品牌喜爱度、品牌信任度以及知晓一个品牌的原产国)来预测中国消费者样本的品牌购买意向,同时分析指出,中国消费者对世界主义、民族优越感、全球—本地身份的认识以及与全球消费者文化的区别也可能会影响其全球品牌购买意向。本文为全球十大品牌建立了回归模型,并有提供最有力证据的层级模型。品牌熟悉度、信任度和喜爱度基本上在很大程度上解释了差异的存在。     

Improving rural livelihoods through the conservation and use of underutilized species: evidence from a community research project in Yemen

The aim of this paper is to analyse the impact of a set of interventions related to conservation and use of neglected and underutilized species (NUS) on people's livelihoods. Specifically, a simultaneous three-equation model of households' participation on underutilized crops conservation and income generation activities is applied to evaluate the outcome of a pilot research project implemented by Bioversity International in Yemen between 2002 and 2005. Results generated show a relation between project participation and the perceived yield increase demonstrating the importance for farmers to actively participate in the project's activities and subsequently apply agronomic practices learnt to improve their livelihood. The generated benefits incentivized farmers to continue to apply the interventions beyond the lifetime of the project ensuring thus a sustainable process in which exogenous interventions, once adopted by farmers become integrant part of farmer's agronomic practices.     

Management quality and the cost of debt: Does management matter to lenders?

This paper investigates the effect of organizational capital, typified by various management practices within a firm, on the cost of external debt financing. Using a sample of medium-sized manufacturing firms in the US, we find that better management practices enhance a firm’s external financing capacity by lowering the firm’s cost of bank loans. We do not find any evidence that the lower loan cost of a high-quality-management firm is associated with more restrictive non-price contract terms such as greater collateral requirements and stricter covenants. These results suggest that banks explicitly take into account the risk arising from poor management practices when pricing and designing debt contracts.     

The Potential Economic Loss to the Oman Economy as a Result of Exporting Unprocessed Fish

This article attempts to estimate the loss in economic activity to the Oman economy resulting from exporting unprocessed fish. Because of the lack of data to compute the necessary multipliers, we use multipliers from other sources. Results show that if fish exported between 2003 and 2007 had been processed in Oman, 479.7 to 829.5 million Rials in economic activity could have been generated. Furthermore, between 2003 and 2007, if all the unprocessed fish exported had been processed locally, between 0.874 and 1.818 billion Rials increase in income could have been generated, with an additional income of up to 1.594 billion Rials through induced effects. Also for every person the fish processing industries could have employed (if all fish processing took place locally) between three to five jobs could have been created economy wide. These results, however, must be taken only as broad indicators because of the lack of multiplier data in Oman.     

Understanding the Structure of Canadian Farm Incomes in the Design of Safety Net Programs1

The effectiveness of safety net programs in meeting their purpose depends implicitly on the nature of farm profitability distributions. This study provides an empirical characterization of farm operating profit distributions and assesses the implications for Canadian safety net programs. Pooled time series data from the Statistics Canada Tax Data Program and the Farm Financial Survey is queried across a range of farm types and provinces, with quartile distributions of Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) within four farm‐size categories analyzed. The results show that regardless of farm type or province, there is greater variation in operating profit within a sales category than there is across the sales categories, and that the range in operating profit increases with size, revealing some very profitable small farms and unprofitable large farms. Thus, the discussion of the social value of farm stabilization programs ought not to be focused on farm size alone. L'efficacité avec laquelle les programmes de protection du revenu atteignent leurs objectifs dépend implicitement de la nature des distributions de probabilités des fermes. La présente étude établit une caractérisation empirique des distributions du bénéfice d'exploitation agricole et évalue les répercussions sur les programmes de protection du revenu au Canada. Des données chronologiques tirées du Programme des données fiscales (PDF) et de l'Enquête financière sur les fermes (EFF) de Statistique Canada sont totalisées par type de ferme et par province, y compris des distributions par quartile du résultat avant intérêts, impôts et dotations aux amortissements (EBITDA) de quatre catégories de taille de ferme. Les résultats ont montré que, sans égard au type de ferme ou à la province, la variation du bénéfice d'exploitation au sein d'une même catégorie de ventes était supérieure à la variation du bénéfice d'exploitation observée entre les différentes catégories de ventes et que l'étendue du bénéfice d'exploitation augmentait avec la taille, révélant des fermes de petite taille très rentables et des fermes de grande taille non rentables. Par conséquent, la discussion sur la valeur sociale des programmes de stabilisation du revenu agricole ne devrait pas s'appuyer sur la taille de la ferme uniquement.     

The impact of the Gramm-Leach-Bliley act on the financial services industry

This paper examines the impact of Gramm-Leach-Bliley Act across three main sectors of the financial services industry: commercial banks, insurance companies, and brokerage firms, taking account of the wealth effect associated with the announcement. We find that the law has a differential impact across the financial services industry. All three industries have gained due to this law with commercial banks benefiting most, followed by the insurance industry. Further, the results show that larger firms benefited more in both the banking and insurance industries and exposure to systematic risk was reduced for all sectors of the financial services industry after this regulation passed.     

Light-duty electric vehicles in the gulf? Techno-economic assessment and policy implications

We investigate the economic and technological potential for adoption of Electric Vehicles (EVs) in Abu Dhabi through a parametric assessment, a public attitude survey, and a diffusion model. Abu Dhabi, similar to fossil-fuel-rich countries in its region, features a car-dependent society and energy subsidies while being situated in hot, desert environment challenging to EVs. We compare conventional vehicles and EVs in the region accounting for the higher use of air-conditioning (AC) in the actual climatic and driving pattern conditions of Abu Dhabi developing an EV AC consumption penalty model. Average annual AC penalty in fuel consumption over normal testing conditions is 16% for conventional vehicles and 25% for EVs based on hourly weather and vehicle utilization patterns. For 250 days per year, the expected EV range is higher than 75% of the nominal value. During the five hottest days of the recorded year, it can drop to 60% but still covering the average daily driving of the majority of users with a single charge with a 25kWh battery. With partial subsidies offered for both fuel and electricity, EV adoption impacts the state in terms of opportunity costs for these fuels in addition to environmental externalities. We calculate the state and user benefits in a parametric analysis dependent on driving distance and battery costs. If the battery cost is $325/kWh, direct and internalized benefits and costs are balanced when the EV is driven 60 km/day. A diffusion scenario of 5% by 2030 results in cumulative net savings of 6.4 million barrels of oil, a reduction of 517.000 tonnes of CO₂, and a cumulative net benefit of $127 million.     

Understanding the Determinants of RiskMetrics/ISS Ratings of the Quality of UK Companies' Corporate Governance Practice

We examine the determinants of RiskMetrics/ISS Ratings of the quality of UK companies' corporate governance practice and investigate whether corporate governance mechanisms and firm specific characteristics affect these ratings. We also investigate the association between firms' financial distress and these ratings. Using data for nonfinancial Financial Times Stock Exchange (FTSE) 250 firms over the 2003 to 2009 period, we find that board independence, managerial ownership, institutional ownership, firm size, and profitability are associated with firms' corporate governance ratings. In addition, we find that more independent directors on the board, more institutional ownership, and larger size lead to a high level of board‐related ratings. Finally, we find no association between corporate governance ratings and financial distress. Copyright © 2012 ASAC. Published by John Wiley & Sons, Ltd.