Global sourcing strategy and sustainable competitive advantage

Global sourcing strategy has been one of the most hotly debated management trends in the last 20 years. In its early years, global sourcing was examined mostly from “in-house” development and procurement perspectives; and in the last several years, research focus has shifted to “outsourcing” activities. Along with this shift from internal to external focus on global sourcing, many researchers and business practitioners have applied a core competency argument to justify increased levels of outsourcing activities on a global basis. Although the beneficial aspects of outsourcing are assumed in most cases, no consensus exists in reality as to the effect of outsourcing. Furthermore, the increased instability of the exchange rate environment in the last several years has also led to increased difficulties in managing globally scattered operations that were once fashionable in the 1980s-90s under the rubric of global strategy. In this article, the authors explore potential limitations and negative consequences of outsourcing strategy on a global scale.     

油气田开发项目平均投资利润率和利税率的确定

行业平均投资利润率和行业平均投资利税率是投资者进行投资机会选择的主要参考依据之一，是投资者对其投资项目收益的最低期望要求。从投资者角度来讲，恰当地确定平均投资利润率和行业平均投资利税率是一个相当重要而又比较棘手的问题。文章主要讨论了如何确定油气田勘探开发项目经济评价中平均投资利润率和行业平均投资利税率的一种简单方法。     

关于制定饭店客房价格若干方法的讨论

在激烈的市场经济条件下,饭店制定灵活的房价政策尤其重要。介绍了成本为主定价策略的若干具体方法,建议饭店应根据具体情况灵活多样地制定本企业的房价。     

静电除尘电源微机控制系统的研制

针对硅整流供电方式的不足,在不改变原有设备运行工况、不增加新的操作规程基础上,研制出通过微机控制高压静电除尘用新型整流设备。本文主要介绍了该控制系统的工作原理、运行过程及软件设计等方面内容,改进后的控制系统能自动跟踪电场的变化,输出最佳电晕功率,从而使除尘效率大幅度提高,电场施加的电压提高15%～30%。     

近10年日本宏观经济的理论分析与展望

近10年日本经济停滞不前，一方面对外经济状况不佳：日元对美元汇率技术下跌。且不断加剧；出口增长放缓，贸易顺差连续下滑，另一方面国内宏观经济状况严峻；失业率不断上升，内需不振；通货紧缩逐步加深；工业增长持续低迷，工业生产与效益下降，究其原因，用内外均衡模型理论分析得出，日本经济没有达到均衡的0点，内外均衡遭到了破坏，而展望今后的日本经济和日元走势，基于日本财政状况的恶化及货币政策的失效，估计还不会导致资本的大量外流。也不会对资本流动产生重要的影响，而结构改革也将可能引致日元升值。     

Persistence of Output Fluctuations Under Different Exchange Rate Regimes

In a recent paper, Giugale and Korobow (2000) present evidence that suggests that the time required by output to return to trend following a financial shock is faster under a flexible exchange rate regime than under a fixed exchange rate. In this paper, we use vector autoregression models to measure the persistence properties of output for a number of countries in the Asia–Pacific region. Our results suggest that output persistence is not uniquely related to a country's choice of exchange rate regime. The two countries in our sample with the least persistent output following a financial shock are Australia, where the exchange rate is fully flexible, and Hong Kong, where it is rigidly fixed via a currency board.     

探析汇率制度、购买力平价及国际货币供求因素对人民币汇率的长期影响

影响人民币汇率的因素很多,但其作用时间的长短却不同。文章通过对中国的汇率制度、购买力平价及国际货币供求的分析,来说明其对汇率的长期影响。     

封闭式基金折价率分析

目前我国封闭式基金的折价现象日趋明显,文章从不同角度对我国封闭式基金的折价率进行了分析,分析结果显示:基金规模与折价率分析存在明显的正相关效应;上市时间与折价率先呈负相关随后转为正相关;基金分红与折价率存在负相关效应等等。     

Bilateral Trade Balances: Evidence from Malaysia*

This study examines the impacts of real exchange rates on the bilateral trade balances of Malaysia with the USA, Japan and Singapore. The results for the long‐run cointegrating vectors show that depreciation or devaluation of real exchange rates will improve bilateral trade balances. In the short run, there is some evidence of the J‐curve phenomenon. Changes in real money supply contribute greatly to changes in real exchange rates. Generally, changes in real exchange rates contribute significantly to changes in bilateral trade balances. Monetary policy can be used to influence bilateral trade balances.