Developing foreign bank efficiency models for DEA grounded in finance theory

We develop foreign bank technical, cost and profit efficiency models for particular application with data envelopment analysis (DEA). Key motivations for the paper are (a) the often-observed practice of choosing inputs and outputs where the selection process is poorly explained and linkages to theory are unclear, and (b) foreign bank productivity analysis, which has been neglected in DEA banking literature. The main aim is to demonstrate a process grounded in finance and banking theories for developing bank efficiency models, which can bring comparability and direction to empirical productivity studies. We expect this paper to foster empirical bank productivity studies.     

Hirschman's loyalty: Attitude or behavior?

Over the past two decades there has been much controversy over what Hirschman intended by the term loyalty in his bookExit, Voice, and Loyalty. Some have interpreted Hirschman's loyalty as an attitude that deters exit and promotes voice. Others have interpreted Hirschman's loyalty as a distinct behavior, like exit and voice, that results from dissatisfaction. This article examines both views of loyalty simultaneously. First, comprehensive and reliable scales to measure the behavioral responses to dissatisfaction are developed. Second, the relationship between loyalty and the behavioral responses to dissatisfaction are examined. Results of this research indicate that both interpretations are important and together help us better understand how employees behave when they are dissatisfied.     

Codependent cycles

This paper extends the work of Engle and Kozicki (1993) to test for co-movement in multiple time series when their cycles are not exactly synchronized. We call these codependent cycles and show that testing and estimation in this case will be a Generalized Method of Moments test and estimation procedure. We also show that the Tiao and Tsay (1985) proposed test for scalar components models of order (0, q) can be seen as a test for codependent cycles based on a consistent, but sub-optimal, estimate of the cofeature vector. We assess the small sample performance of the proposed tests through a series of simulations. Finally we apply this test to investigate comovement between durable and non-durable consumption expenditures.     

A Stage Model of International Brand Development: The perspectives of manufacturers from two newly industrialized economies—South Korea and Taiwan

A review of the literature has revealed that insufficient attention has been paid to the international branding process. Following in-depth interviews with eight manufacturers from South Korea and Taiwan, a stage model of international brand development is therefore proposed. This model is a composite of three extant literatures, i.e., international branding, the Small Business Growth Stage Model, and the Internationalization Process model. The model highlights four successive and progressive stages underpinning international brand development: Pre-international, Lead Market Carrying Capacity, International Branding and Market Succession, and Local Climax. According to the proposed model, firms begin with the development of a strong brand in home markets, then, utilize OEM brands to expand and become familiar with international markets. A gradual decrease in OEM contracts and more concentration on international branding in the three global lead markets (i.e., the USA, Japan, and the EU) follow. The stage model ends with brand development deploying localization in the Third World countries. The article concludes by providing research implications as well as future research directions.     

物流外包决策模型比较研究

回顾物流外包的理论基础，并创造性地将产业组织理论纳入物流外包决策框架之中；讨论几种有代表性的决策模型，并指出其特点及存在的问题，旨在为后来研究者明确方向，也为模型使用者提供借鉴。     

Are Indexed Bonds Really Inflation Proof? A Model of Real and Nominal Term Structures when Money has Real Effects

This paper studies the general behavior of the nominal and real term structures of interest rates in a general equilibrium framework. A central bank is introduced in the model as an agent facing a tradeoff between inflation and output and choosing a monetary policy variable. Prices and output are jointly determined in our model endogenously. Two multi-factor nominal and real term structure models are given as examples to illustrate the general model. In our economies, inflation indexed bonds are not completely inflation proof, but are still subject to the influence of inflation uncertainties. The models offer us an empirical framework that can be studied with indexed bond data and nominal bond data together in a single estimation.     

Debt, Death and Taxes

Does the level of government debt affect living standards and if so, to what extent? We quantify the impact of the U.S. federal debt using an open economy overlapping generations model in which consumers have long but finite lifetimes. A demographic structure allows fiscal policy changes to have different effects on different agents, and reveals the linkages between public debt, output and international trade. We find that reducing the debt has relatively modest impacts on aggregates, while reducing government spending substantially raises U.S. incomes and welfare. Therefore, this paper contributes to the current debate regarding whether U.S. federal government budget surpluses should be used to retire government debt.     

4D cadastres: First analysis of legal,organizational, and technical impact—With a case study on utility networks

The increasing complexity and flexibility of modern land use requires that cadastres need an improved capacity to manage the third dimension. As the world is per definition not static, there also will be needs in relation to the representation of the temporal (fourth) dimension either integrated with the spatial dimensions or as separate attribute(s). In this paper, registration of utility networks in cadastre are considered in this 3D + time (=4D) context. A number of countries in the world have developed methods to register utility networks complying with their legal, organizational, and technical structure. We researched the different approaches of three specific countries: Turkey, The Netherlands and Queensland, Australia. These are analysed to evaluate a solution that matches legal, organizational, and technical cadastral requirements in the most optimal way.