Star River,A Champion of High-end Residence

Star River(or Star Bay),an elite works of Hong Yu Group,is located in Sijixinghe Road,Chaoyang District,Beijing.It is a distinguished residence area,occupying land of 300 thousand sq.meters.The north side is a forest garden with 1600 or more mu,the eastern side is a green belt with more than 2000 mu.     

How Entrepreneurs Deal with Ethical Challenges – An Application of the Business Ethics Synergy Star Technique

Entrepreneurs typically live with the ever-present threat of business failure arising from limited financial resources and aggressive competition in the marketplace. Under these circumstances, conflicting priorities arise and the entrepreneur is thus faced with certain dilemmas. In seeking to resolve these, entrepreneurs must often rely on their own judgment to determine “what is right”. There is thus a need for a technique to assist them decide on a course of action when no precedent or obvious solution exists. This research paper examines how entrepreneurs experience and deal with these dilemmas. The research is based on interviews with seven entrepreneurs in established service-oriented ventures, which gave rise to 26 dilemmas. These dilemmas were analyzed by making use of the Synergy Star technique, which is introduced here as a tool that is useful in defining any dilemma, isolating the ethical component, and resolving the dilemma in a way that is congruent with the entrepreneur’s personal world-view. Dr. David Robinson lectures in Entrepreneurship and Business Ethics at Queensland University of Technology and Bond University in Australia and is Visiting Professor at Shanghai Jiao Tong University in China. Himself an entrepreneur and director of companies with varied business interests, he holds a Master of Science from Brunel University, London, an MBA from Newport University, California and a Ph.D. from Rhodes University, South Africa. Dave is a past surfing and lifesaving champion and is known around the world as ‘Dr. Dave - the Surfing Professor’. Per Davidsson is Professor of Entrepreneurship and Director of Research at Queensland University of Technology, Australia and Professor of Entrepreneurship at the Jonkoping International Business School in Sweden. Hennie van der Mescht is Associate Professor and Head of the Education Department at Rhodes University, South Africa. Philip Court is Associate Professor and Head of the Management Department at Rhodes University, South Africa.     

论明星广告代言人正当利益保护

本文在赞同明星广告代言人应对其虚假广告代言行为承担责任的基础上,对于如何在广告代言活动中维护明星代言人的合法权益提出了自己的观点,认为应考虑广告性质的动态变化、已尽合理注意义务、广告审查依据错误以及责任期限等问题在追究明星广告代言人责任时的影响。     

江苏星级酒店低碳节能措施研究——以苏州为例

随着旅游业的发展,江苏省内星级酒店的数量不断增加。在发展低碳经济的今天,节能和环保成为时代的主题,星级酒店作为能源消耗的大户,在水、电、燃气方面浪费现象十分严重,不仅增加了自身的运营成本而且也污染了环境。因此,必须从改进酒店设计、更新技术设备、加强内部管理以及碳补偿等方面入手来降低酒店能源的消耗。     

Business travellers’ hotel expectations and disappointments: A different perspective to hotel attribute importance investigation

Hotel attribute importance studies have a long tradition in hospitality research. This study investigates the issue for business travelers by asking the respondents to state their expectations and disappointments / dissatisfaction in an open question format instead of rating the importance of attributes directly.

The aim of the study is twofold: (1) to learn about expectations and past disappointments of this particular segment to provide additional insight for customizing hotel offers and (2) to investigate whether the findings reported in literature so far are mirrored or not.     

Pierpont and the Capital Market

For almost forty years Trevor Sykes was one of the most recognizable business journalists in Australia. Sykes created his Pierpont character in February 1972 while writing for Australia's leading financial paper, the Australian Financial Review . Pierpont was a take on J. Pierpont Morgan, founder of the J. P. Morgan banking house. Sykes used his Pierpont column to research and reflect on the curious world of Australian business. Articles were mostly in narrative form, comprising an in-depth critique of one or more companies and written with more than a touch of humour. Over the years Pierpont garnered a large following, and it is therefore quite possible his musings influenced investors' beliefs about company fundamentals. We assess this possibility by examining the share price movements of companies around the time they found themselves featured in a Pierpont column. We extend previous work in this area by examining the market reaction to a popular columnist's writings published regularly over a lengthy period, and by implementing an extensive double-coding procedure that allows us to more finely and reliably partition trading recommendations based on the content of each column. In brief, we find evidence that stocks with positive coverage by Pierpont enjoyed abnormal returns averaging 6.4 per cent over thirty days around the publication date, while stocks with negative coverage suffered abnormal losses of 5.5 per cent. Trading volume was also affected.     

克隆明星基金投资策略构建及其有效性研究

投资者对简单易行的投资策略梦寐以求。本文在股票价格具有惯性和明星基金具有股票选择能力的现实情况下,设计了一种简单易行的克隆明星基金投资策略,并以实际的金融数据对该种投资策略的有效性进行了实证分析。结果表明：该策略能够产生较好的投资收益,投资者利用该策略进行投资是有效的。     

基金家族实施造星策略的内在动因与效果

我国基金管理采用的是固定费率制度,这种旱涝保收的收费模式使得基金家族的“造星”成本很低,而基金家族“造星”成功时明星基金的品牌可以吸引到更多的资金流入,进而为该家族带来更多的管理费收入,成本与收益的巨大差异会导致基金家族过度地实施“造星运动”。本文通过理论建模和实证检验深入研究了我国基金家族实施造星策略的内在动因与效果。研究发现,基金家族的造星策略在短期内无效,但从中长期来看效果显著;家族整体业绩和家族现金流入显著正相关,因此,为了获得更多的管理费收入,基金家族应以提高业绩为宗旨。     

Ranking asymmetric auctions: Filling the gap between a distributional shift and stretch

I consider first-price auctions (FPA) and second-price auctions (SPA) with two asymmetric bidders. The FPA is known to be more profitable than the SPA if the strong bidder's distribution function is convex and the weak bidder's distribution is obtained by truncating or horizontally shifting the former. In this paper, I employ a new mechanism design result to show that the FPA remains optimal if the weak bidder's distribution falls between the two benchmarks in a natural way. The same conclusion holds if the strong bidder's distribution is concave, but with a vertical shift replacing the horizontal shift. A result with a similar flavor holds if the strong bidder's distribution is neither convex nor concave. The dispersive order and the star order prove useful in comparing the weak bidder's distribution to the benchmarks. A key step establishes a relationship between these orders and reverse hazard rate dominance.     

Corporate real estate,stock market valuation and the reputational effects of eco-certification

Improving the energy efficiency of retail stores has become an important strategy for retailers. However, why do some retailers obtain Energy Star certification for their stores while others do not? We argue that retailers pursue this certification to capture reputational benefits of the Energy Star label when their stock market valuation is low. Using longitudinal data for US retailers (grocery and department stores) over the period of 2002 to 2014, we find that stock market valuation measured by Tobin’s Q explains (1) the likelihood of a retailer obtaining Energy Star certification and (2) the share of Energy Star-certified stores in a retailer’s portfolio. Operating expenses on the other hand do not appear to drive the decision to obtain Energy Star certification. Our results also suggest that the motivations of retailers to obtain LEED and Energy Star certification differ.