The contingent value of marketing strategy innovativeness for product development performance in Chinese new technology ventures

This study extends research on entrepreneurial behavior by investigating the relationship between the marketing strategy innovativeness (MSI) and new product performance in technology-based new ventures in China. Specifically, premised on contingent resource-based view we argue that MSI is a firm capability that must be bundled with external managerial relationships and be deployed in the appropriate environment to ensure its success. We found that the team's extra industry relationships and market dynamism enhanced the impact of MSI on new product performance. In contrast, top management team's intraindustry relationships, financial relationships, and technology dynamism hindered the impact of MSI on new product performance.     

基于金融安全的资本流动：理论解读与中国实证

基于IS-LM-BP模型阐述了资本流动—经济非均衡的生成机制,揭示了资本流入规模、资本流入结构、外汇储备及经常项目是影响一国资本流动金融安全的主要因素。通过建立资本流动影响金融安全的测算体系,对1996～2005年我国资本流动进行了实证分析,结果表明：(1)中国资本流动状况总体较好,状态界定为安全；(2)资本流入规模正常,但期限结构不够合理；(3)现阶段我国资本流动的安全运行有保障。     

Annual report readability and corporate agency costs

Annual reports are the main sources of information for outside investors’ investment decisions and enable shareholders to supervise the management. Difficulties with the readability of these reports may therefore have serious consequences. Using 19,221 firm-year observations of Chinese A-share listed firms from 2001 to 2015, we investigate the association between annual report readability and corporate agency costs, where readability is proxied by report file length and/or file size. We find that firms with better annual report readability experience lower agency costs, and the negative association between readability and agency costs is more pronounced in firms with higher external audit quality, internal control quality or analyst coverage. These results hold after several robustness checks. The positive effect of annual report readability is stronger in private firms than in state-owned enterprises, and becomes stronger after the implementation of new accounting standards in 2007. Readable annual reports can help in monitoring corporate insiders’ opportunistic behavior and thus reduce agency costs.     

Co-evolution of the strategic reorientation of port actors: insights from the Port of Rotterdam and the Port of Barcelona

This paper explores changes in the strategic orientation of port authorities and terminal operators towards the hinterland network in the Ports of Rotterdam and Barcelona. Port authorities and terminal operators are economically, institutionally and geographically related organizations. The argument here is that such organizations experience a mutually influential and interactive effect in their strategy over time. The research explores the evolution of the market, institutional and governance forces behind these organizations’ strategic orientation, while acknowledging their interdependence and interrelationship. To that end, it builds a conceptual framework analysing these organizations’ strategies in different points in time. It draws upon firms and port theories to design a co-evolutionary framework, which is later refined with insights gained from an empirical study of the port context.     

Cost-benefit analysis of airport security: Are airports too safe?

This paper assesses the risks and cost-effectiveness of measures designed to further protect airport terminals and associated facilities such as car parks from terrorist attack in the U.S., Europe, and the Asia-Pacific area. The analysis considers threat likelihood, the cost of security measures, hazard likelihood, risk reduction and expected losses to compare the costs and benefits of security measures to decide the optimal security measures to airports. Monte-Carlo simulation methods were used to propagate hazard likelihood, risk reduction and loss uncertainties in the calculation of net benefits that also allows probability of cost-effectiveness to be calculated. It is found that attack probabilities had to be much higher than currently observed to justify additional protective measures. Overall, then, it is questionable whether special efforts to further protect airports are sensible expenditures. Indeed, some relaxation of the measures already in place may well be justified.     

The ‘squeezed middle’: Identifying and addressing conflicting demands on intermediate quality farmland in Scotland

The growing demand for a wide range of private and public goods and services from a finite land resource is increasingly challenging for planners at local, regional, national and international scales. The Scottish Government's development of a Land Use Strategy has given salience to resolving conflicts and enhancing synergies in land use. In Scotland, the poorest quality farmland is often designated for nature and landscape conservation and the highest quality farmland often protected for food production. This means that many of the competitive pressures on land are experienced in what we term the ‘squeezed middle’. The paper identifies the multiple (and not exclusively economic) drivers of land use choices and, through an ecosystem services lens, explores three particular areas of land use conflict. These are (i) the continued high level of public support for farming, which has done little to address the problem of low farm incomes; (ii) the pressure to increase woodland planting on farm (and other) land; and (iii) conflicts associated with intensive game management, especially on sporting estates. Using the Scottish situation as an example, the heterogeneity of land use pressures means that there is a danger of the principles of the Land Use Strategy becoming lost in translation from national policy to practical land use decision-making. The appropriate scale for delivery of integrated ecosystem services may therefore be more local than current pilot projects, and may require more active participation of land managers. It may also require policy instruments that are more flexible in adapting to the local context, including payments for ecosystem services.     

Why you should care about the Target data breach

Data breaches are becoming more frequent and more damaging to the bottom line of many businesses. The Target data breach marked the beginning of increased scrutiny of cybersecurity practices. In the past, data breaches were seen as a cost of doing business, but Target's negligence and the scale of the data loss forced businesses and the courts to reevaluate current practices and regulatory frameworks. Businesses must make strategic use of their chief information officers, adopt cybersecurity best practices, and effectively train their employees to respond to growing security threats. They must also shape the cybersecurity narrative to influence regulatory responses to these threats.     

Corporate Name Change and the Market Valuation of Firms: Evidence from an Emerging Market

Investors’ responses to a firm’s name change and the determinants of their response are scantly explored areas in the field of behavioral finance. Based on a sample of 415 Indian firms from 2005 to 2014, this study suggests that investors respond positively to the announcement of firm name changes. Furthermore, the study indicates that when firms do not indicate geographical specificity in the name and have a specific rather than generic name, then the firm will experience greater abnormal returns. Also, when firm names are fluent and are associated with the owner’s family name, again, abnormal returns generated are positive. Nevertheless, as a firm ages and investors gain more information about it, then abnormal returns due to name change decrease.     

阿联酋粮食战略储备项目的先进性和创新性

阿联酋粮食战略储备项目，筒仓仓容276760 t，粮食品种为小麦和稻谷，项目建设点储粮环境恶劣，图纸审查严格，整个项目设计均采用最先进的技术，并严格遵循欧美规范和标准进行设计。