入世后外商直接投资变化及中国的对策

2002年入世以来,外商对华直接投资发生了较大的变化.相比入世前的预测,我国利用外资现状与趋势并不乐观.本文试图从投资量、投资规模、投资策略、投资来源、投资结构、投资区位六方面透析外商在华直接投资的变化情况,并对以后扩大优化利用外资提出对策建议.     

复杂性管理策略:关注整体性

复杂性管理的策略首先要关注和认识复杂系统的整体性,这要通过关注系统的结构、多元化的视角、容忍模糊性和不确定性、借助直觉等手段来达到。在关注和认识整体性的基础上,需要进一步维护和促进复杂系统的整体性,这需要通过保护系统的自组织、创造自组织环境条件、发现和维护序参量、鼓励多元化以及与环境相协调来达成。     

企业融资偏好解析——基于农业上市公司的实证数据

自MM理论以来,企业融资行为的理论与实证研究不断深入.大多国内研究文献认为我国企业融资行为具有明显的股权融资偏好.文章运用新的研究思路与方法,对我国农业上市公司的融资偏好与融资结构特征分别进行了实证研究,结果发现虽然融资结构特征体现出明显的股权融资依赖性,但企业并不具有股权融资偏好.     

基于自组织理论的房地产业演化动力研究

通过对自组织理论群的分析,揭示了房地产业自组织的内在特质。在深刻把握房地产业特性的基础上,购建了房地产业协同演化指标体系,并建立了房地产业协同演化模型。通过实证分析,解得房地产业的序参量。在对序参量做出分析、评价的基础上,提出了有益于我国房地产业发展的序参量改善建议。     

外资银行进入的竞争效应与中资银行的竞争战略

转型经济的金融市场中存在着较为显著的信息不对称,外资银行不同的进入模式会产生不同的竞争效应。中欧和东欧的经验表明,外资银行主要以并购模式进入以获取更多的信息优势。我国银行业应该采取4大战略来与外资银行竞争,即降低成本、提高技术,优化借款人的结构和信息,多元化银行的资产结构、积极开拓国际业务,“追求质量”、避免“追求捕获”。     

The adaptive approach for storage assignment by mining data of warehouse management system for distribution centres

Among distribution centre operations, order picking has been reported to be the most labour-intensive activity. Sophisticated storage assignment policies adopted to reduce the travel distance of order picking have been explored in the literature. Unfortunately, previous research has been devoted to locating entire products from scratch. Instead, this study intends to propose an adaptive approach, a Data Mining-based Storage Assignment approach (DMSA), to find the optimal storage assignment for newly delivered products that need to be put away when there is vacant shelf space in a distribution centre. In the DMSA, a new association index (AIX) is developed to evaluate the fitness between the put away products and the unassigned storage locations by applying association rule mining. With AIX, the storage location assignment problem (SLAP) can be formulated and solved as a binary integer programming. To evaluate the performance of DMSA, a real-world order database of a distribution centre is obtained and used to compare the results from DMSA with a random assignment approach. It turns out that DMSA outperforms random assignment as the number of put away products and the proportion of put away products with high turnover rates increase.     

The changing US–China investment relationship

The United States and China are at a turning point in their investment relationship. China’s previous investments in the United States were predominantly in government securities, while other holdings were negligible. Recently, the accumulation of treasury securities has slowed and direct investments by Chinese firms have risen steeply, with Beijing signaling greater support for portfolio investment outflows as well. This article describes the nascent shift in patterns of Chinese investment in the United States and uses the case of direct investment to examine the implications for US–China relations. We discuss current and future policy issues presented by Chinese foreign direct investment (FDI) in the United States, including national security, market access, and antitrust.     

How to Green the red Dragon: A Start‐ups' Little Helper for Sustainable Development in China

This article qualitatively identifies and explains the barriers that foreign cleantech start‐ups can encounter when attempting to enter the Chinese market, as well as the possible strategies that can help overcome these barriers. We base our analysis on interviews with Chinese and foreign entrepreneurs and facilitators. To structure the analysis of such barriers, we use the components of the entrepreneurial ecosystem. We then explain the barriers using institutional theory. We demonstrate that they are caused either by the regulations in China or by the difference between Chinese and Western logics. We further recommend that cleantech entrepreneurs come prepared to China, remain flexible, associate themselves with reputable partners and take advice from those familiar with business in China. Cultural–cognitive barriers might be overcome by integrating the communities of foreign and Chinese start‐ups. Regulative barriers can be removed by the Chinese Government, but this conflicts with the logic of state control. Copyright © 2015 John Wiley & Sons, Ltd and ERP Environment     

LIQUIDATION IN LIMIT ORDER BOOKS WITH CONTROLLED INTENSITY

We consider a framework for solving optimal liquidation problems in limit order books. In particular, order arrivals are modeled as a point process whose intensity depends on the liquidation price. We set up a stochastic control problem in which the goal is to maximize the expected revenue from liquidating the entire position held. We solve this optimal liquidation problem for power‐law and exponential‐decay order book models explicitly and discuss several extensions. We also consider the continuous selling (or fluid) limit when the trading units are ever smaller and the intensity is ever larger. This limit provides an analytical approximation to the value function and the optimal solution. Using techniques from viscosity solutions we show that the discrete state problem and its optimal solution converge to the corresponding quantities in the continuous selling limit uniformly on compacts.     

Understanding Equity in the Recreation User Fee Context

Equity is a major public concern related to recreation fees on public lands. The purpose of this study was to test a three-dimensional model of equity and to examine the perceptions of equity across demographic segments. Data were collected by a telephone survey with residents (N = 366) of two western states. Confirmatory factor analysis supported the three-dimensional equity model in a recreation fee context. People tended to support democratic equity more than compensatory equity. Greater support was shown for discounted fees for the elderly and persons with disabilities than for discounts for ethnic minorities, low income people, or large families, suggesting the possibility of two sub-dimensions of the compensatory equity construct. Overall, the results do not support that disadvantaged groups seek discounted fees.