Resilience: Lessons from banks that have braved the economic crisis—And from those that have not

Resilience – a firm's ability to adapt, endure, quickly bounce back, and then thrive despite a catastrophic event – addresses diverse managerial constructs including performance (Carmeli & Markman, 2011). Our exploratory study expands this line of research by making two contributions: first, we develop and test a new revelatory measure for resilience – VOLARE – combining financial performance measures with volatility data. Then, applying this new measure to the financial industry, from 2002 to 2011, we identify highly resilient international financial services firms (IFSFs; e.g., banks) and compare them with less resilient IFSFs. Second, we assess three factors – bank size, home-market solidity, and product and market complexity – that the literature has traditionally shown to be highly predictive of banks’ performance. Consistent with our expectations, the results corroborate that VOLARE is complementary to, but distinct from, traditional financial measures of firm performance. We explain these deviations from traditional studies and suggest further research topics.     

Firm entry deregulation,competition and returns to education and skill

This paper studies the effect of firm entry deregulation on the returns to skill and education. We exploit a comprehensive episode of entry deregulation, unique in the industrialized world, as a quasi-natural experiment. Using matched employer–employee data for the universe of workers and firms in Portugal, we show that increased product market competition, which resulted from deregulation, increased the returns to a university degree and the returns to skill. We verify that our results are not driven by changes in employment composition, and are unlikely to be driven by skill-biased technical change, or by workers who change skill levels after the deregulation.     

C2C电子商务卖家及其产品成交量的多层线性影响分析

论文以淘宝网为对象收集样本,运用多层线性模型研究价格、信息描述、默认排名、卖家信用度和卖家好评率对成交量的影响。结果显示成交量在不同商家间存在显著的差异,价格和信息描述会对成交量产生重要影响而默认排名影响不显著,卖家信用度和卖家好评率会对成交量产生显著的影响。     

外部研发合作广度与新产品开发绩效：一个有调节的中介模型

基于企业外部合作伙伴分布广泛的特点,从外部研发合作广度的两个维度（市场广度和研究广度）出发,选取2010—2018年160家中国制造业上市企业数据,运用多元回归分析法探讨外部研发合作广度对企业新产品开发绩效的影响。结果表明,外部研发合作的市场广度和研究广度正向影响新产品开发绩效,其中,研究广度的作用更为显著;网络学习在外部研发合作广度对新产品开发绩效的影响机制中存在部分中介作用;知识库同质性正向调节外部研发合作广度与网络学习的关系。结论丰富了新产品开发绩效前因变量研究,对企业制定外部研发合作战略,提升新产品开发绩效具有重要管理启示。     

数字经济发展提升了区域创新能力吗——基于长江经济带的空间计量分析

基于长江经济带11省市2008—2018年面板数据,测度省域数字经济发展水平,并使用空间杜宾模型实证探究数字经济发展对区域创新能力的影响。结果发现：数字经济发展水平是影响区域创新能力的重要因素,对本省域技术创新、产品创新均有促进作用,而在部分矩阵下对省际创新发展有负向溢出效应;经济发展水平、科研经费投入、人才投入与外商投资均对区域创新产生一定影响。为此,建议加强区域技术联系与资源共享,打破数字经济在区域间创新发展壁垒,优化资源配置,实施创新资源精准投入,推动新型基础设施建设,提升数字经济应用水平,以进一步提高区域创新能力。     

Price competition in a differentiated products duopoly under network effects

We examine price competition under product-specific network effects, in a duopoly where the products are differentiated both horizontally and vertically. We emphasize the role of consumers’ expectations formation. When expectations are not influenced by prices, the market may be shared but shares must be equal unless product qualities differ or one firm, possibly even the low-quality one, may capture the entire market. When expectations are influenced by prices, which would be the case when there is commitment, competition becomes more intense and the high-quality firm tends to capture a larger market share. Under strong network effects there is a continuum of equilibria and the higher the prices, the smaller the difference between those prices can be. Requiring continuity of expectations, however, delivers a unique equilibrium where one firm captures the entire market.     

A grey decision and prediction model for investment in the core competitiveness of product development

Because enterprises do not disclose their internal specific cost information to the public and, moreover, every firm has its own product character and financial constitutions, it is difficult to offer fixed guidelines for investment decisions. Thus, an enterprise may be uncertain when required to choose the most promising set of possible investments.The goal of this research is to use a grey relation analysis and analytic hierarchy process (AHP) to probe the core product development and competitiveness of an enterprise from limited data and, furthermore, by constructing the grey model, GM(1,1), to validate the feasibility of this assessment of the core competitiveness and investment strategy. In this study, a precision mechanical manufacturer is taken as an example, and the forecast estimate from this method is compared to those of a linear regression and the actual values to demonstrate the feasibility of applying this methodology to investment decision making, hence, demonstrating the value of this research.