Interregional trade network analysis for road freight transport in Greece

This paper suggests a flexible decision support framework for the strategic planning of a freight transport hub network in Greece. The proposed methodology treats practical aspects related to the optimal number, location and geographical covering of hubs, through the network analysis of interregional trade, based on original survey data for road freight flows during 2004–2012. The results offer insights into the hierarchical structure of the network and related investment priorities, as the hub role of a prefecture is found to be strongly influenced by high population densities and manufacturing specialization, and its location along highway corridors.     

Delivery leadtime and channel structure decisions for make-to-order duopoly under different game scenarios

We develop game-theoretic models to explore the quoted delivery leadtime, price, and channel structure decisions for a make-to-order duopoly system under three game scenarios. Under the integrated-manufacturer first scenario, we find that (i) decentralization of the supply chain increases quoted leadtime; and (ii) both manufacturers may choose different channel structures under symmetric duopoly. By comparing with the symmetric scenario and the retailer first scenario, we find that a manufacturer facing a decentralized rival adopts decentralization when leadtime sensitivity, leadtime cost, and price elasticity are very small; the effect of decentralization on quoted leadtime largely depends on game scenario.     

Optimizing station location and fleet composition for a high-speed rail line

This paper proposes a new strategic planning model for high-speed rail ventures. It is a mixed-integer optimization model that applies to a given line and focuses on two key strategic decisions: station location and fleet composition. Our purpose is to improve on previous station location models by including fleet composition decisions. In the new model, we additionally take into account in an approximate fashion the interrelationships between strategic and subsequent tactical decisions, regarding line planning, train scheduling and fleet assignment issues. The usefulness of the model is demonstrated for a case study involving a planned Lisbon-Oporto high-speed rail line.     

Is cognitive bias really present in analyst forecasts? The role of investor sentiment

This paper analyses four key markets within the European context. In this context, where the level of analyst coverage is lower than in the US setting, we aim to ascertain whether the origin of optimism in analyst forecasts in these markets is mainly strategic or whether it also contains an element of cognitive bias. Despite the fact that forecast errors lack the explanatory power to account for a significant percentage of the relationship between market sentiment and future stock returns, our new tests based on selection bias (SB1 and SB2), in conjunction with an analysis of abnormal trading volume, confirm the presence of both cognitive bias and strategic behaviour in analyst forecasts. This shows that, although regulation can reduce analyst optimism bias, the benefits are constrained by the fact that optimism bias is partly associated with cognitive bias.     

Why we hate performance management—And why we should love it

Individual performance is a building block of organizational success. Not surprisingly, virtually all organizations have in place some type of performance management system. Yet, managers and employees are equally skeptical that performance management adds value; usually, it is seen as a waste of time and resources. We argue that the potential benefits of performance management are not realized because most systems focus exclusively on narrow and evaluative aspects such as performance appraisal. Herein, we offer a broader view of performance management, including discussion of how it differs from performance appraisal. We highlight specific and important benefits of performance management for employees, managers, and organizations. We also describe research-based conclusions regarding how performance management systems should be designed and implemented to realize these benefits. We hope our article will demonstrate that well-constructed performance management systems should not be hated, but rather embraced.     

Endogenous market structures and contract theory: Delegation, principal-agent contracts, screening, franchising and tying

I study the role of unilateral strategic contracts for firms active in markets with price competition and endogenous entry. Traditional results change substantially when the market structure is endogenous rather than exogenous. They concern (1) contracts of managerial delegation to non-profit maximizers, (2) incentive principal-agent contracts in the presence of moral hazard on cost-reducing activities, (3) screening contracts in case of asymmetric information on the productivity of the managers, (4) vertical contracts of franchising in case of hold-up problems and (5) tying contracts by monopolists competing also in secondary markets. Firms use always these contracts to strengthen price competition and manage to obtain positive profits in spite of free entry.     

Strategic Debt in Vertical Relations: Evidence from Franchising

In this paper, we examine the strategic use of debt in franchise organizations. We focus on both the franchisee's and the franchisor's capital structures. The primary goal of this study is to examine whether franchisors impose limits on franchisees’ debt levels to be able to increase their own leverage. We find that the franchisor's leverage is significantly related to the maximum leverage allowed for the franchisee. As the franchisor sets an upper limit on the franchisee's debt ratio, the franchisor can raise more debt and therefore seizes tax benefits, since interest payments are tax deductible. We find that this effect is stronger in chains with larger fractions of franchised outlets.     

基于主成分分析法的城市物流战略定位研究

为使城市物流的发展在区域物流规划定位中更加科学与客观,在分析区域物流定位影响因素的基础上,提出主成分分析方法的区域物流定位数学模型,并对模型进行了实证分析。在进行城市物流战略定位时,根据主成分分析的降维思想可以把较多的评价指标转化为几个综合指标,从而确定出最有利于物流发展的城市,为科学决策提供参考。     

论毛泽东土地制度和土地革命思想对当代中国发展的战略价值

本文概括了毛泽东分析旧中国土地制度的基本方法,分析了毛泽东是如何创造性地构建了土地革命理论体系(即革命根据地理论)并用以指导中国革命的实践,研究了这一思想体系对当代中国发展的战略价值。     

广东发展战略性新兴产业的政策选择

目前,我国明确提出要大力发展战略性新兴产业,各地各部门也在加紧制定相关战略性新兴产业发展规划和政策措施.从目前广东战略性新兴产业政策的制定情况来看,还仅有少量的方向性政策,缺乏整体的发展规划和完整的扶持政策体系.本文将以新兴产业发展规律和强调可操作性等原则出发,提出了广东发展战略性新兴产韭的几大政策设计.