Does legal system matter for directed technical change? Evidence from the auto industry

Does the effect of fuel taxes on clean innovations (e.g. hybrid technology) depend on the legal system’s rigidity? Using 1986–2005 data from more than 1900 firms, evidence suggests that auto-industry firms located in civil law (with more rigid laws) countries increase clean technology patenting more than common law (with more flexible laws) firms when the tax-inclusive fuel price rises. A rigid legal system appears to raise clean technology innovation.     

Worldviews,Levels of Consciousness,and the Evolution of Planning Paradigms in Protected Areas

Abstract

Protected areas (PAs) worldwide are facing increasing visitation and complexity. Mounting pressures from the private sector are intensifying the risks associated with overtourism. The increasing strategic importance of PAs for the communities and regions in which they are situated requires improved management effectiveness; yet, recent studies indicate significant and growing systemic risk. Worldview analysis can be a valuable tool for building consciousness and informing the evolution of PA planning and management. Directed content analysis was used to examine two Visitor Use Plans developed for the Coyhaique National Reserve, located in the iconic Patagonia cultural area of southern Chile. The plans were developed using distinct planning frameworks, with different underlying assumptions. Research questions focused on how modernist, postmodernist and integral worldviews were expressed within the two plans. Worldviews were explored in both manifest and latent manners, considering plan text, models and overall context revealing patterns and links between the plans and planning frameworks that guided their development. Rich context and a thorough discussion of methods assists with the incorporation of worldview evaluation within PA management theory, informing the continuing development of knowledge and capacities that can better prepare PAs for future challenges.     

上市公司增长机会、增发数量与股价反应

以2007年至2009年成功增发的A股上市公司为样本,对我国上市公司增发数量与股价变动的相互关系进行研究,结果表明:上市公司的增发数量内生于其增长机会,增长机会越大的公司增发数量占发行前总股本的比率也越高;股市对上市公司的过度增发会做出显著的负面反应,但仅有微弱的证据表明谨慎增发会导致股价下跌;公开增发的上市公司较之于定向增发的上市公司具有更多的过度增发倾向,且股价反应也更剧烈。     

Behavioral intention of visitors to an Oriental medicine festival: An extended model of goal directed behavior

Despite the importance of Oriental medicine festivals to Oriental medical tourism, little research has been conducted to understand the behavioral intention of visitors to these festivals. Therefore, this study examines the behavioral intention of visitors to a Korean Oriental medicine festival. This study employs the extended model of goal-directed behavior (EMGB) that incorporates two constructs related to Oriental medicine festivals: the Oriental medicine image of festival site (image) and the perception of Oriental medicine (perception). An on-site survey was conducted with 423 visitors attending the Sancheong Herbal Festival in South Korea. Results reveal that attitude, subjective norm, and positive anticipated emotion influenced visitors' desire to attend the festival, which, in turn, influenced their behavioral intentions. Two constructs of image and perception formed positive and significant relationships with attitude toward attending the festival. Practical implications of the study results are discussed.     

Combinatorial Games under Auction Play

ARichman gameis a combinatorial game in which, rather than alternating moves, the two players bid for the privilege of making the next move. The theory of such games is a hybrid between the classical theory of games (von Neumann, Morgenstern, …) and the combinatorial theory of games (Berlekamp, Conway, Guy, …). We expand upon our previous work by considering games with infinitely many positions as well as several variants including thePoorman variantin which the high bidder pays a third party (rather than the other player).Journal of Economic LiteratureClassification Number: C7.     

基于自主创新的高新技术产业可持续发展战略研究

应对经济全球化,高新技术产业必须依靠自主创新,增强其核心竞争力才能实现可持续发展。基于对高新技术产业自主创新能力的研究,分析了我国高新技术产业的现状,我国高新技术产业发展存在的障碍性因素,进一步提出了实现高新技术产业可持续发展的对策。     

从分散竞争到适度集中的寡头主导--我国注册会计师行业组织优化选择

针对当前我国注册会计师行业出现的过度分散化竞争状况,从研究其引致的规模经济效益丧失等负面经济后果出发,从挂靠制度和退出壁垒两方面深入剖析了造成这种过度分散竞争状况的原因,并且结合微观经济学市场结构理论,提出了建立适度集中的寡头主导型产业结构是我国注册会计师行业组织优化的模式选择。     

Do components of smooth tests of fit have diagnostic properties?

Smooth goodness of fit tests were introduced by Neyman (1937). They can be regarded as a compromise between globally consistent (“omnibus”) tests of fit and procedures having high power in the direction of a specific alternative. It is commonly believed that components of smooth tests like, e.g., skewness and kurtosis measures in the context of testing for normality, have special diagnostic properties in case of rejection of a hypothesisH ₀ in the sense that they constitute direct measures of the kind of departure fromH ₀. Recent years, however, have witnessed a complete change of attitude towards the diagnostic capabilities of skewness and kurtosis measures in connection with normality testing. In this paper, we argue that any component of any smooth test of fit is strictly non-diagnostic when used conventionally. However, a proper rescaling of components does indeed achieve the desired “directed diagnosis”.     

Markov analysis of land use change: Continuous time and stationary processes

In an earlier paper one of the authors has used actual land use maps to establish the validity of the Markov process for describing and projecting land use changes. In a subsequent paper the same data was used to calibrate a non-homogeneous, birth and death process in which the land uses were dichotomized into either of two states: developed or undeveloped. The present paper pursues two aspects raised by the earlier ones: whether the process of land use changes can be considered a stationary process and, if so, whether it can be fit by a continuous-time, rather than discrete-time, model. Necessary and sufficient conditions for the existence of a feasible fit are indicated.     

Unobserved Heterogeneity,Exit Rates,and Re‐Employment Wages

Exit rates from unemployment and re‐employment wages decline over a period of unemployment, after controlling for worker observable characteristics. We study the role of unobserved heterogeneity in an economy with asymmetric information and directed search. We show that the unique equilibrium is separating and that skilled workers have more job opportunities and higher wages. The composition of the unemployed varies with the duration of unemployment, so average exit rates and wages fall with time. The separating equilibrium relies on performance‐related pay schemes and the ability of firms to commit to renting an input that is complementary to worker skills.