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Decision-Maker Characteristics and the Global Intensity of Professional Service Firms

Abstract

The purpose of this research is to examine the global intensity of professional service firms in light of the firms' and top managements' characteristics. Questionnaires were sent to 1,600 service firms in the United States representing a broad cross-section of service industries potentially engaged in international business. The results indicate that the international experience and focus of top management, as well as firm size, contribute to differences among the levels of global intensity investigated.     

农村政策金融功能定位与结构特征探讨——外国案例的实证分析

文章针对“市场失灵”说的不足，提出了基于农业、农村经济“弱势性”的分析框架，并对美国、日本和印度进行了实证分析。美国农村政策金融的结构特征主要源于农业的一般弱势性，日本主要源于“小农户”的弱势性，而印度复杂的农村政策金融结构的形成则源于包括“人多地少”、农户结构、城乡二元经济结构等在内的多重“弱势集合”。结论：一国农业、农村经济的“弱势性”既决定着其农村政策金融功能定位的演变，又决定着其结构特征。     

“十三五”时期城商行的创新发展战略

城商行在“十三五”时期既面临着重要的发展机遇，也受到很多不利因素的冲击，城商行应该在创新思维引领下努力发展财富管理业务、资产管理业务和投资银行业务，并且建立这三者业务为一体的业务模式，扩大自己的盈利空间，同时强化自身的管理体制创新以及风险机制创新，从而在未来复杂多变的市场环境中更好地持续健康发展。     

Improving bus bridging responses via satellite bus reserve locations

This paper presents a new method for assessing satellite bus reserve location to best service unplanned rail service disruptions by optimising location in relation to travel time to rail replacement, the volume of rail replacement incidents and the scale and spatial distribution of passengers affected.When rail disruptions unexpectedly occur, re-establishing network connectivity is paramount and the provision of bus bridging (or bus replacement service) is common. Minimising response times are critical in reducing impacts to affected commuters. Currently, reserve buses for such purposes are usually sourced from existing bus depot locations, which are generally situated to suit regular day to day operations. Strategically locating satellite bus reserves according to criteria such as disruption likelihood provides the opportunity to better cater for disrupted demand.The method is presented and analysis highlights how ideal depot locations within the network changes as consideration is given to travel time to locations where bus bridging commences, likelihood of a disruption warranting bus bridging and commuter volumes affected. The paper discusses the implications of findings for future research and practice.     

General Patterns of Cell Phone Usage Among College Students

Abstract

There has been tremendous growth in the cellular telephone industry in recent years. The present study was undertaken in order to better understand the pattern of usage among one of the most important target markets for cell phone products—young adults attending college. Data were collected from a total of 383 cell phone consumers residing in four states in different geographic regions of the United States. Respondents ranged in age from 18-57 with a median age of 23 years. Data analyses revealed several interesting and potentially important patterns of usage. Among these were the findings that the majority of those surveyed indicated that they use their cell phones for the purpose of social stimulation, to remain continually available, for domestic reasons, to leave themselves memos and reminders, for time-keeping, for emergency purposes, and to use the phone's phonebook function.

It was also found that the cell phone market among the target population is relatively mature in that the vast majority of the sample (90.5%) indicated that they have owned a cell phone for more than one year. The maturity of the market, however, was found to vary as a function of geographic region. This particular finding has implications for regional cell phone marketing strategies. A number of other differences of potential importance for market segmentation and target marketing purposes also emerged and are discussed in detail.     

Book‐to‐Market Equity,Asset Correlations and the Basel Capital Requirement

This paper examines the effect of book‐to‐market equity (BE/ME) on asset correlations under the Basel capital requirement. We find that BE/ME captures variations in asset correlations after controlling for firm size, default probability and industry effects from 1987 to 2011. Obligors with higher BE/ME exhibit lower asset correlations compared to those with lower BE/ME. Decomposing BE/ME into assets‐in‐place and growth options based on the asset pricing literature shows that obligors with more assets‐in‐place or more fixed assets have higher BE/ME and lower asset correlations than those with more growth options. Overall, our findings suggest that BE/ME is an additional important factor that may improve the estimates of asset correlations and thereby banks’ capital adequacy.     

The business environment and Moroccan firm productivity

The paper focuses on the role of the business environment in understanding differences in the total factor productivity of Moroccan firms. The business environment is captured by measures which include the investment climate in which firms operate, i.e. access to credit, regulatory and institutional environment and infrastructure. The evidence on the relationship between credit and productivity is strongly indicative of credit resources misallocation in Morocco. We also find that, heavier bureaucracy and differences in regulations appear to have a negative effect on firm productivity. This last result is particularly relevant for small firms, and/or those that do not export and/or those with no access to foreign capital.     

基于Fuzzy理论的区域配送中心选址模型对比分析

目前已有的区域配送中心数学选址模型及算法以定量分析为主，计算复杂，其实用性受现实条件限制较多。本文引入Fuzzy理论来探讨两种Fuzzy选址模型的建立及决策过程，通过相互对比各自运用中的优点和局限性，提出了改进模型的方法及实际评价过程中须注意问题，从而提高选址决策水平。     

Does Gibrat’s Law Hold? Evidence from Canadian Retail and Manufacturing Firms

This paper investigates the validity of Gibrat’s Law holding for firms in manufacturing and retail trade sectors. The object is to expand our knowledge of Gibrat’s Law to include non-manufacturing firms. A unique longitudinal firm-level database, which contains information on Canadian incorporated establishments, enables the inter-industry comparison. The findings of the analysis are that Gibrat’s Law is violated in both manufacturing and retail sectors. Violations of Gibrat’s Law for both sectors include (i) growth rates that depend on firm size (ii) growth variability that depends on firm size and (iii) a negative persistence of firm growth. Finally, age effects or selection effects are not the causes of these violations.