西藏决胜全面建成小康社会发展战略研究

随着中国特色社会主义进入新时代,在“两个一百年”奋斗目标的指引下,西藏进入了全面建成小康社会的关键期。西藏要全面深刻总结稳定与发展的成功经验,牢牢把握新时代的新机遇,积极应对新时代的新挑战,全力实现西藏长足发展与长治久安。尤其是要坚持以习近平新时代中国特色社会主义思想为指导,立足西藏稳定与发展的实际,加强战略规划与研究,创建性贯彻落实中央治藏方略、坚持开展反分裂反渗透斗争、正确认识和处理好“十三对关系”、推动经济高质量发展、传承和弘扬老西藏精神与两路精神,与全国人民一道全面建成小康社会。     

Africa’s industrialization and China’s OFDI in the manufacturing sector: rationales and practices

The article examines the rationales and practices for three types of manufacturing outward foreign direct investment (OFDI) into Africa in the context of the cooperation between Africa’s industrialization and China’s OFDI on manufacturing. African economies have achieved impressive growth in the new century, but sustainable economic growth in this vast continent is still constrained by lagging industrialization and weak manufacturing sector. While China’s economy has made great achievements in Gross Domestic Product growth and poverty reduction, it witnessed hikes of factor price such as wage, land and exchange rate at varying degrees in the recent decade, imposing pressure on economic restructuring. Against the background, the new trend of Chinese manufacturing OFDI provides new opportunities for Africa to solve structural problems of weak manufacturing. Policy implications of this study on China–Africa industrial capacity cooperation are briefly discussed.     

The consumer's index

Consumer's surplus measures the area under the demand curve between two prices, but is path dependent. There exists a path such that consumer's surplus tracks utility and an explicit formula is known for CES utilities. This paper shows that the CES‐based formula holds for any homothetic utility, and I call it the consumer's index. The index modifies consumer's surplus in two ways: the change in income is measured by its growth factor and the area under the demand curve is normalized by income.     

An Empirical Analysis of Analysts' Capital Expenditure Forecasts: Evidence from Corporate Investment Efficiency*

We examine whether the information conveyed in a relatively new analyst research output—capital expenditure (capex) forecasts—affects corporate investment efficiency. We find that firms with analyst capex forecasts exhibit higher investment efficiency. This effect is stronger when the forecasts are issued by analysts with higher ability or greater industry knowledge. Moreover, the effect of capex forecasts on investment efficiency varies with the signals they convey about future growth opportunities—positive-growth signals are more effective in reducing underinvestment, while negative-growth signals are more effective in reducing overinvestment. Cross-sectional tests suggest that these effects operate at least in part through both a financing channel and a monitoring channel. Taken together, our results suggest that analysts' capex forecasts convey useful information about firms' growth opportunities to managers and investors, which can facilitate efficient investment.     

Equilibria in a large production economy with an infinite dimensional commodity space and price dependent preferences

We prove the existence of a competitive equilibrium in a production economy with infinitely many commodities and a measure space of agents whose preferences are price dependent. We employ a saturated measure space for the set of agents and apply recent results for an infinite dimensional separable Banach space such as Lyapunov’s convexity theorem and an exact Fatou’s lemma to obtain the result.     

Enhancing financial performance by pharmacy innovation

Antecedents and consequences of customer orientation have been the subject of significant empirical investigation. Although several studies have explored employee variables as antecedents to customer orientation, work ethic has received little research attention. Additionally, there have been incongruent findings related to the effect of customer orientation on performance, as some have found it to be direct or indirect via innovation. This study explores overall work ethic as an antecedent to customer orientation and innovativeness as the missing link between customer orientation and performance among Canadian retail pharmacies. The results show support for the influence of work ethic on customer orientation, and the role of innovation as a mediating variable. This study advances the understanding of work ethic, customer orientation, innovation, and performance in Canadian retail pharmacy.     

Consistency of option prices under bid–ask spreads

Given a finite set of European call option prices on a single underlying, we want to know when there is a market model that is consistent with these prices. In contrast to previous studies, we allow models where the underlying trades at a bid–ask spread. The main question then is how large (in terms of a deterministic bound) this spread must be to explain the given prices. We fully solve this problem in the case of a single maturity, and give several partial results for multiple maturities. For the latter, our main mathematical tool is a recent result on approximation by peacocks.     

Effects of runoff voting rules on number of parties and candidates' political experience: Evidence from a law change in Peru

We study the effect of a change in electoral rules on political competition, measured by the number of candidates and their political experience. We explore the effects of a change in legislation, introduced a year before the gubernatorial elections in Peru on the number of parties that participated in these elections. We also investigate how the legislative change affected the political experience of the candidates. Given that the legislative change did not apply to elections for provincial mayors, we use those elections as a control group, in a difference-in-differences design. Our estimates show the number of parties registered increased by a margin of around 2.2 after the legislative change. The change also increased the candidates' years of accumulated political experience, particularly in the subsequent gubernatorial elections.     

BENFORD'S LAW AS AN INDICATOR OF SURVEY RELIABILITY—CAN WE TRUST OUR DATA?

This paper analyzes how closely different income measures conform to Benford's law, a mathematical predictor of probable first digit distribution across many sets of numbers. Because Benford's law can be used to test data set reliability, we use a Benford analysis to assess the quality of six widely used survey data sets. Our findings indicate that although income generally obeys Benford's law, almost all the data sets show substantial discrepancies from it, which we interpret as a strong indicator of reliability issues in the survey data. This result is confirmed by a simulation, which demonstrates that household level income data do not manifest the same poor performance as individual level data. This finding implies that researchers should focus on household level characteristics whenever possible to reduce observation errors.     

Getting From ‘Me’ to ‘We’: Role Clarity,Team Process,and the Transition From Individual Knowledge to Shared Mental Models in Employee Dyads

Shared mental models are crucial for team functioning; however, little research to date has focussed on uncovering the predictors of shared mental models. The present study investigates the effect of role clarity on shared mental models by means of its indirect effects via team process. Two hundred and two undergraduate students participated in a dyadic firefighting simulation in which their role clarity, team process, and mental model similarity were measured. Analyses conducted at the dyadic level suggest that role clarity predicts mental model similarity via its effects on team process. Copyright © 2018 ASAC. Published by John Wiley & Sons, Ltd.