Conceptualizing and validating organizational networking as a second-order formative construct

Based on an existing conceptualization in the literature, this study operationalizes the construct of organizational networking, through a rigorous two-stage scale construction and validation process. Organizational networking refers to firm behaviors, i.e. the activities/routines/practices, which enable an organization to make sense of and capitalize on their networks of direct and indirect business relationships. We conceptualize the measurement model as a second-order formative construct with four first-order reflective constructs based on a four-dimensional view of organizational networking comprising information acquisition, opportunity enabling, strong-tie resource mobilization and weak-tie resource mobilization. The scale validation was undertaken at the first- and second-order levels. The result confirms the four distinct first-order measurement models. At the second-order level, a MIMIC (multiple indicators and multiple causes) model was employed to assess the validity of the formative measurement model. The results suggest that all four components significantly contribute to the overarching construct of organizational networking, with strong-tie resource mobilization being the most important contributor. Thus, our operationalization confirms the uniqueness of the different dimensions of organizational networking that should be configured as a strategy of sensing and seizing opportunities in the network. The organizational networking scale will provide future research with a basis to explore different strategic patterns of networking behaviors in varying contexts, and its role in relation to other organizational behaviors and outcome variables, such as firm performance.     

The mechanism of credit risk contagion among internet P2P lending platforms based on a SEIR model with time-lag

The credit risk contagion of Internet peer-to-peer (P2P) lending platforms is an important part of Internet financial risk management and supervision. This study analyzes the contagion path of credit risk in Internet P2P lending. Based on complex network theory and the theory of infectious disease dynamics, the characteristics of Internet P2P lending development are combined to construct a SEIR model of credit risk transmission among Internet P2P lending platforms with time lag, and the robustness of the model is analyzed and proven. The influence of platform correlations, the susceptible immune rate, the platform elimination rate, contagion latency, the saturation coefficient, and the susceptibility input rate on credit risk contagion behavior among Internet P2P lending platforms is analyzed, using the equilibrium point and threshold value. The impact of each variable is analyzed by simulation. Corresponding countermeasures and suggestions are proposed to prevent and control credit risk contagion among these platforms.     

经济新常态下金融包容与产业结构转型——基于中国省级面板数据的分析

在经济新常态背景下,产业结构面临重大调整,金融包容的融入,使中小企业或个人能够获得价格合理、方便快捷的金融资源,扶持创业创新发展,形成新的增长动力。本文基于1995～2012年中国31个省市的相关数据,运用面板数据模型和分位数回归方法,深入探讨金融包容对产业结构转型的影响。结果表明,金融包容与产业结构转型具有显著的正向关系,并且在不同分位点上金融包容水平对产业结构转型表现出较强的解释力,随着产业结构向高级化发展,金融包容在产业结构转型升级中的作用逐步凸显。经济增长、教育发展、财政支出规模和城市化水平均对产业结构转型具有促进作用,而过多的物质资本投入不利于产业结构转型。     

基于转变经济发展方式的“十二五”中部地区发展模式研究

转变经济发展方式是＂十二五＂中部地区持续崛起的有效途径。在国家中部崛起战略的支持下,＂十一五＂以来中部地区经济发展呈现出一些新态势和新特点,进入到了一个新的崛起发展阶段,但依然存在着整体化意识不强、产业结构不合理、城市化滞后、发展环境严峻等诸多问题。从国家经济发展方式转变的宏观要求和中部地区区情出发,文章提出了构建以内源型为基础、以经济一体化为突破口、以产业集群发展为内在驱动力、以自主创新为中心环节的区域经济发展新模式,并探究了中部地区切实转变经济发展方式的具体路径。     

A faster estimation method for the probability of informed trading using hierarchical agglomerative clustering

The probability of informed trading (PIN) is a commonly used market microstructure measure for detecting the level of information asymmetry. Estimating PIN can be problematic due to corner solutions, local maxima and floating point exceptions (FPE). Yan and Zhang [J. Bank. Finance, 2012, 36, 454–467] show that whilst factorization can solve FPE, boundary solutions appear frequently in maximum likelihood estimation for PIN. A grid search initial value algorithm is suggested to overcome this problem. We present a faster method for reducing the likelihood of boundary solutions and local maxima based on hierarchical agglomerative clustering (HAC). We show that HAC can be used to determine an accurate and fast starting value approximation for PIN. This assists the maximum likelihood estimation process in both speed and accuracy.     

Childcare Assistance: Are Subsidies or Tax Credits Better?

We evaluate price subsidies and tax credits for childcare. We focus on partnered women's labour supply, household income and welfare, demand for childcare and government expenditure. Using Australian data, we estimate a joint, discrete structural model of labour supply and childcare demand. We introduce two methodological innovations – a more flexible quantity constraint that total formal and informal childcare hours are at least as large as the mother's labour supply and the explicit inclusion of maternal childcare in the utility function as a proxy for child development. We find that tax credits are more effective than subsidies in terms of increasing average hours worked and household income. However, tax credits disproportionately benefit wealthier and more educated women. Price subsidies, while less efficient, have positive redistributional effects.     

结构调整与技术进步对碳排放影响的空间效应分析

对1997～2012年中国分省域碳排放的数据进行详细测算,发现碳排放具有明显的空间相关性。利用空间面板数据模型分析发现,单位国内生产总值（GDP）能耗和能源结构碳强度对碳排放的影响较为突出。通过检验发现建立空间杜宾模型是最优的。结论：进一步加快产业结构优化升级,培育优势创新产业集群,推广清洁技术的利用,改善以煤炭为主不合理的一次能源消费结构,并充分考虑区域间的集聚效应,在碳减排活动中充分加强区域协作。     

我国科技-经济-生态系统的综合发展水平及其协调度评价——基于灰关联投影寻踪协调度组合评价模型

科技创新、经济发展与生态环境建设作为国家治理体系的重要组成部分,对于我国国民经济和社会发展具有明显的推动作用。本文参考现有文献中科技创新、经济发展与生态环境建设3个维度的相关指标,构建科技-经济-生态系统协调度评价指标体系。并采用灰关联分析法、投影寻踪法和协调度模型,综合评价我国不同时期的科技-经济-生态系统的综合发展水平及其协调度。研究结果表明,2000～2015年,我国科技-经济-生态系统的综合发展水平处于快速增长阶段,年均增长率为6.22%,其中,科技创新水平、经济发展水平、生态环境建设水平的年均增长率分别为5.95%、5.35%、6.43%。同时,我国科技-经济-生态系统的协调度达到0.992。其中,“十五”～“十二五”时期,我国科技-经济-生态系统的协调度持续提升,分别达到0.8465、0.8466、0.9152。总体来看,在经济发展新常态下,我国政府通过加快转变经济发展方式和社会发展方式,同步提高科技创新水平、经济发展水平、生态环境建设水平,有利于进一步提升科技-经济-生态系统的综合发展水平及其协调度。     

Using the Harvard HRM model to conceptualise the impact of changes to supervision upon HRM outcomes for different types of Australian public sector employees

Within the Australian context of a shortage of skilled professionals, this article uses the Harvard model of human resources management (HRM) to conceptualise how changes in stakeholder interests coupled with changes to situational factors affect public sector HRM policy choices that in turn affect HRM outcomes for different types of public sector employees. The findings obtained using path analysis suggest that the proposed model explained almost 50% for nurses and less than 14% for police officers. In the case of nurses, the strong significant relationship between HRM inputs and outputs may provide a further plausible explanation for one of the long-term consequences of new public management – namely, the inability to retain skilled employees (especially those in the health sector) across numerous OECD countries. The implication of these findings is that the present public sector HRM policy choice should be re-examined because of its impact on HRM outcomes. Moreover, public sector employees should not be regarded as one uniform group that responds alike to the same policy. Whilst the merits of pursuing a strong auditing focus may have benefited organisations financially, the benefits can only remain if public sector employees, including professionals, are prepared to work under those conditions. The inability to retain nurses in numerous countries, coupled with past studies that have identified (poor) management as a contributing factor, suggests that past HRM policy choices may have to be replaced by new HRM policy choices that focus on employees' perceptions of well-being. However, more studies using different types of professionals are required to confirm the generalisability of these findings.     

An intelligent service matching method for mechanical equipment condition monitoring using the fibre Bragg grating sensor network

Due to the advantages of being able to function under harsh environmental conditions and serving as a distributed condition information source in a networked monitoring system, the fibre Bragg grating (FBG) sensor network has attracted considerable attention for equipment online condition monitoring. To provide an overall conditional view of the mechanical equipment operation, a networked service-oriented condition monitoring framework based on FBG sensing is proposed, together with an intelligent matching method for supporting monitoring service management. In the novel framework, three classes of progressive service matching approaches, including service-chain knowledge database service matching, multi-objective constrained service matching and workflow-driven human-interactive service matching, are developed and integrated with an enhanced particle swarm optimisation (PSO) algorithm as well as a workflow-driven mechanism. Moreover, the manufacturing domain ontology, FBG sensor network structure and monitoring object are considered to facilitate the automatic matching of condition monitoring services to overcome the limitations of traditional service processing methods. The experimental results demonstrate that FBG monitoring services can be selected intelligently, and the developed condition monitoring system can be re-built rapidly as new equipment joins the framework. The effectiveness of the service matching method is also verified by implementing a prototype system together with its performance analysis.