The Benefits of Visibility Improvement: New Evidence from the Los Angeles Metropolitan Area

This article examines the impact of a specific aspect of air quality—visibility, or the ability to clearly see distant objects—on housing values. Our analysis is based on a data set constructed by matching residential housing sales data from the Los Angeles Metropolitan Area for the period 1980 through 1995 with visibility and other air pollution data and other characteristics. We find that visibility differences are capitalized into housing values, producing a measurable hedonic price gradient. The time-series design facilitates an estimate of the demand for visibility that we use to calculate the benefits of changes in visual range.     

Stock Market Valuation of Deferred Tax Assets: Evidence from Internet Firms

Abstract:   We use the provisions of SFAS No. 109 , Accounting for Income Taxes , to examine the extent to which stock prices of Internet firms were associated with expectations of future profitability before versus after the 'market correction' in early 2000. We find that the valuation of deferred tax assets of firms with business models reliant on the level of web site traffic was significantly greater after the market correction. In our view, this evidence is consistent with pre‐correction mispricing.     

浅论我国农产品流通企业扩张的基本规律与政策规制

通过对农产品流通企业扩张形式全面的理论梳理, 研究总结了二种类型的农产品流通企业扩张基本规律,即纵向扩张和横向扩张,并对中国农产品企业扩张问题进行了实证研究,最后对我国农产品流通企业扩张提出建议.     

Learning-by-doing and input demand of a rate-of-return regulated firm

The significance of learning by doing to input demand of a cost-minimizing rate-of-return-regulated firm is examined. Using a panel data, the results indicate that the firm's cost and input demand decisions are both influenced by learning-by-doing. The firm's cost and the rate-base (capital) input requirements decline as learning-by-doing measured by cumulative production expands. However, LBD may have different effects on the non-rate-base inputs (labor and fuel) considered in this study. While LBD ambiguously reduces fuel usage, it moderately increases labor employment. In addition to changing input intensity, LBD also influences returns to scale and elasticity of substitution.     

基于技术生命周期的技术转让评价方法探讨

随着经济的快速发展，业界对技术的重要性认知与获取技术的需求日益增强。技术转让是获取技术的重要方式之一，对技术进行科学的评价是技术转让能否成功的关键。本文探讨了不同技术生命周期阶段的技术转让评价问题，以供参考。     

An empirical investigation of firm public and private knowledge

Many studies examine firm private knowledge, but purport to be generalizable to the totality of firm knowledge, both public and private. This study demonstrates that public and private firm knowledge are empirically separable constructs that have significant and yet different influences on innovative outcomes. The example of product development effectiveness within this study shows that both public and private knowledge are significantly related to product development quality; however, public knowledge is negatively related to quality lapses while private knowledge is positively related to quality lapses. Copyright © 2002 John Wiley & Sons, Ltd.     

Technological proximity and the choice of cooperation partner

This paper provides empirical tests of hypotheses of cooperative behavior provided by evolutionary approaches in the resource-based view of the firm. The influences of “technological proximity”, individual incentives to cooperate and managerial tools to the choice of research partner are analyzed. Using German patent data we can show the positive influence of those three determinants. The results of this paper confirm theories dealing with the path-dependency of research activities.      

目标公司股权结构对敌意收购的影响——中信证券收购广发证券的案例研究

兼并、收购、接管(敌意收购)和买断,是公司控制权市场常见的几种表现形式。本文通过中信证券收购广发证券的案例研究,从敌意收购的过程、动因、反收购措施及市场反应的角度对其进行了分析,并指出目标公司的股权集中度、交叉持股、非上市公司特征等股权结构方面对敌意收购的影响。     

Gender differences within early stage and established small enterprises: An exploratory study

This paper examines 2 years of data from GEM Canada in order to develop new insights into the factors that contribute to the performance outcomes of female enterprises and how these factors are affected by the firm’s stage of development. The analysis encompasses both personal and organizational characteristics and assesses their association with selected performance measures at the early stage as well as at the established phase of development. The findings indicate that the greater propensity of men to pursue business growth and earnings can be attributed to marital status (live with a partner) and the expected depth of the ownership team. Moreover, the performance outcomes for male entrepreneurs are influenced by a relatively wide range of variables, with business demographics being more prominent than for the female enterprises. For both genders, the mix of relevant underlying factors varies as the venture progresses along the ‘nascent-new-established’ continuum.