动态竞争环境下我国企业运作模式构建的思考

在全球化、信息化和个性化为主要特征的时代背景下,我国企业所面对的竞争环境越来越复杂多变。适应这种多变竞争环境的企业运作模式主要包括企业管理模块和企业经营模块的构建。     

晚清常熟静圃园林植物应用探析

文人园林营建过程中,园居植物的获取、选择、栽培以及品赏亦是一个较为复杂而必备的过程。江南常熟静圃(现名赵园)为晚清文人赵烈文所建。通过分析赵烈文撰写的《能静居日记》,并结合其他史料考证,在当时沿袭的文人审美标准下对同治四年至光绪十三年静圃中的植物应用过程及方式进行阐释,旨在获得关于晚清时期江南文人园林植物的历史性认识：静圃建园过程中植物主要通过苏州花肆购买、友人间赠送以及与种树人直接交易等方式获取;园中植物虽以地景、盆景区分,但种类选择与高濂、文震亨、李渔等给出的品赏范围并无明显差异;在定期维护的基础上,须保证后园可四时赏花,其中以春桃、夏荷、秋菊、冬梅为最,且植物的实用功能一直被延续。     

Does a lower (higher) labour force participation rate imply greater (lower) income tax evasion? An exploratory empirical inquiry for the U.S.

This exploratory study seeks to add to the income tax evasion literature by investigating a heretofore ignored potential determinant of aggregate federal personal income tax evasion in the U.S., namely, the labour force participation rate. It is hypothesized that the higher (lower) the labour force participation rate, the lower (greater) the degree of tax evasion. The empirical estimation supports this hypothesis, finding that a one unit (one percentage point) increase (decrease) in the labour force participation rate leads to a 9.1% decrease (increase) in income tax evasion. Thus, the declining labour force participation in recent years implies increased tax evasion problems for the U.S.     

Business investment in euro area countries: the role of institutions and debt overhang

The recovery of business investment in the euro area has been sluggish, thereby hampering aggregate demand in the short term and potential growth in the long run. While we show that business investment can be associated to cost and supply of credit, cyclical demand conditions and economic uncertainty. But we also find evidence of additional factors. We suggest that there exists a link between excess leverage and weak economic institutions on the one hand and subdued investment growth on the other hand. Moreover, in euro area countries with both larger excess leverage and weaker economic institutions, the link with business investment is found to be stronger. The link between investment and weak institutions or excess leverage highlights the importance of structural reforms aimed at easing business regulations, reducing administrative burdens and increasing the efficiency of insolvency frameworks. These reforms are thus expected to reduce distortions in the allocation of resources and be supportive of a smoother deleveraging process, hence fostering business investment.     

The effect of investment and withdrawal horizons on myopic loss aversion

Using unique survey data, we find that a longer investment horizon (6–10 years and 11+ years) reduces the likelihood of exhibiting myopic loss aversion (MLA) compared to an investment horizon of less than 2 years. In addition, we find that investors with higher levels of assets under management (AUM) are less likely to exhibit MLA compared to the lowest AUM quartile.     

Firm performance and corporate finance in New Zealand

Low productivity growth in New Zealand has been a paradox. We study New Zealand firms’ profitability, in terms of profit margin and return on assets (ROA), from the viewpoints of productivity enablers using firm-level panel data. We find that tangible fixed investment and a research and development (R&D) tax incentive are associated with higher profitability performance. In addition, the firm size is found to be a key determinant of profit margin. By contrast, we do not find any evidence that intangible investment can improve the profitability. The global financial crisis has not changed the leverage effect on ROA in New Zealand, while the impact of R&D became more prominent after the crisis.     

The effects of risk aversion on life insurance ownership of single-parent households

This study investigates the effect of risk aversion of single-parent households with at least one child under 18 on life insurance ownership. Analysing the 1992–2013 Survey of Consumer Finances datasets, we found that the likelihood of owning term life insurance decreases as risk aversion increases, but the likelihood of owning cash-value life insurance increases as risk aversion increases. Smokers were less likely to own term life insurance but more likely to own cash-value life insurance than comparable non-smokers.     

How much are electric vehicles driven?

The prospect for electric vehicles as a climate change solution hinges on their ability to reduce gasoline consumption. But this depends on how many miles electric vehicles are driven and on how many miles would have otherwise been driven in gasoline-powered vehicles. Using newly-available U.S. nationally representative data, this paper finds that electric vehicles are driven considerably fewer miles per year on average than gasoline-powered vehicles. The difference is highly statistically significant and holds for both all-electric and plug-in hybrid vehicles, for both single- and multiple-vehicle households, and both inside and outside California. The paper discusses potential explanations and policy implications. Overall, the evidence suggests that today’s electric vehicles imply smaller environmental benefits than previously believed.     

Geographic patterns of Poland’s FDI: the investment development path perspective

The purpose of the present study is to incorporate geographic analysis of FDI into the classic IDP model. By supplementing the traditional analysis of the net outward investment (NOI) position with an analysis of geographic patterns in inward and outward FDI, the authors strive to offer a better explanation of Poland’s current NOI position and provide more in-depth support to some necessary policy recommendations. Hence the main contribution of this study to the international business scholarship is two-fold. It (1) further develops the IDP research methodology; and (2) provides a better understanding of the idiosyncratic nature of the IDP of Poland.     

Causal relationship between apparel exports and macroeconomic factors

Apparel exports make a significant contribution to economic growth in major apparel exporting economies such as Bangladesh, Sri Lanka and Vietnam. This study aims to investigate the causal relationship between apparel export growth and its determinants such as GDP growth, infrastructure, financial development, foreign direct investment (FDI) and labour productivity using panel data from 11 major apparel exporting countries for the period 1996 to 2013. The results confirm a long-run equilibrium association among the variables and reveal that GDP growth, infrastructure, financial development, FDI, and labour productivity have a significant positive influence on apparel export growth. Furthermore, the heterogeneous panel non-causality test results suggest that GDP growth, infrastructure and labour productivity contribute to apparel export growth in the short-run. These findings have several policy implications for the governments of the countries under study.