The Effect of Board Characteristics on a Firm＇s Strategic Change

The purpose of this study is to identify the relationship between the characteristics of the board of directors and strategic change of a firm in the Chinese context. In this study, strategic change is defined as strategic deviation relative to industry norms and strategic variation relative to historical experiences. The size, independence and leadership structure of the board of directors are defined as the board characteristics. We then propose hypotheses on the effects of board characteristics on a firm＇s strategic change. This study takes strategic resource allocation profile as measure to calculate strategic deviation and strategic variation, and then empirically tests and verifies the hypotheses using data from Chinese publicly listed companies in the information technology industry from the year 2006 to 2010. We find that the size, independence and leadership structure of the board of directors significantly affect both strategic deviation and strategic variation. Therefore, we conclude that board characteristic affects a firm＇s strategic change. The conclusion of the study indicates that moderate reductions in the size of the board, increasing the proportion of independent directors and separating the roles of chairman and chief executive officer can facilitate promoting the process of strategic change for a firm in a dynamic environment. Through this study we re-examine the role and significance of the board of directors in strategic decision-making for a firm, and provide useful suggestions on how to form a board that can meet the needs for strategic change for a firm in a dynamic business environment.     

基于偏离-份额分析法的山西省农业经济发展研究

目的 分析山西省农业经济增长、结构、竞争力优势度和区域农业资源配置现状及合理性,为乡村振兴产业动力发展提供参考。方法 文章以全国为参照,运用比较优势指数和Esteban-Marquillas偏离份额法拓展模型,综合探析山西省农业经济增长和产业结构现状。结果 （1） 2000—2019年山西农林牧渔业经济总量整体保持增长趋势,农林牧渔业经济增加值占GDP比重在波动中呈下降趋势,与全国同产业比值稳定在1.225%。（2）结构比例演变相对稳定,以种植业为主,牧业为辅,渔业林业比重低;结构调整以种植业略下降,林业略提升为主要特征。农作物以谷物、豆类、薯类具有比较优势,尤以谷子、胡麻籽、高粱、绿豆、红小豆比较优势明显,明显高于全国水平。（3）偏离效应分析显示：种植业规模增长明显,但结构、竞争力、资源配置均处于劣势;林业结构和资源配置合理,但规模小,不具竞争力;牧业发展规模、竞争力、资源配置优势均较好,但结构尚不合理;渔业产业规模小,增长优势不明显,结构发展程度低,竞争力差。（4）动态变化中份额分量演变高度一致,种植业和牧业呈现明显的正负交替和此消彼长态势。农业经济增长优势整体表现为由南向北依次减弱的趋势,各地区结构偏离效应均为负,份额和结构分量区域间差异较小;竞争和配置分量偏离效应空间分布复杂,差异较大。结论 与全国相比,研究期内山西农业经济增长趋势不明显,竞争力低于全国水平。其中种植业和牧业结构需要进一步优化,提高资源配置合理性;林业结构和资源基础好,但发展较晚,亟待提高竞争力;渔业规模小,发展程度尚低。不同地区之间的协同性较差,可通过优化结构和分工,提高区域协作能力。     

筒仓施工中常见问题及处理方法

伊泰集团纳林庙一号井技术改造项目选煤场区内,3个内径22m筒仓。采用滑模工艺进行施工。     

专业化视角下的高校辅导员绩效考核偏差与改进研究

辅导员的职业化与专业化发展方向已成为现阶段我国高校辅导员队伍建设的必然选择,从专业化的视角看,科学化、合理化与激励化的绩效考核工作有助于加快实现高校辅导员专业化的发展目标与管理目标,然而目前高校辅导员的绩效考核工作还存在着一些突出的偏差问题,急需改进与完善。     

上市公司可持续增长率偏差的实证分析

按照可持续增长率进行发展,要求企业全面权衡各方面的契约关系,以稳定的契约结构获取企业的长期增长。但是在现实中由于各种原因,企业不可能完全按照可持续增长率进行增长,出现了可持续增长率偏差。本文通过对我国A股市场的上市公司在1997-2005年的可持续增长情况进行分析,研究了我国上市公司可持续增长率偏差的主要影响因素及其对未来经营业绩的影响。研究结果表明：影响可持续增长率偏差的主要因素包括资产运作效率变动、资本结构的调整、外部权益融资和销售净利率的变化,鼓励政策对企业的可持续增长率偏差并没有显著作用。另外本文还验证了较高的可持续增长率偏差对后期（5年）的业绩提高具有消极作用。     

基于熵权法和MADM的电力客户信用风险评价

电力客户的信用程度直接影响到供电企业的正常运营,也是保证我国电力工业健康发展的前提。因此,采用科学的方法对电力客户的信用进行评价具有重要的理论和现实意义。电力客户的信用风险评价是典型的多属性决策问题,决策者往往很难对每个评价指标赋予一个确定数值,但凭借经验可以给出大致范围。鉴于此,这篇论文在描述电力客户的各个属性值时采用了区间数的表示形式,随后,利用正态分布3σ原则,将区间数形式表示的属性值转化为单点值,运用熵权法确定出各评价指标的权重,最后计算各个电力客户的综合评价值并进行排序优选。实例研究结果表明这是一种科学实用的评价比较方法,为供电企业规避客户信用风险提供了重要的参考依据。     

The Strategic Implications of Asset and Liability Allocation in the Turkish Banking Industry

This study aims to analyze whether banks' deviation from the mainstream in terms of asset and liability allocation enables them to perform better than their competition. Overall, deviation in the liability structure seems to have a significant impact on performance. In a second regression, the results obtained from the analysis of liability allocation are further examined by focusing on the effects of the deposit base on bank performance. Our analysis brings out the significance of liability allocation and of the effect of deposit strategies as a primary source of funding. The major difference of this study from the existing literature is that we focus primarily on both asset and liability allocation strategies of banks, and we further analyze the components of the liability structure to evaluate the impact of liability deviation on the banking strategy.     

Fourier-analytic measures for heavy-tailed insurance losses

We propose a family of three ‘Fourier-analytic’ measures to extend the conventional concepts of standard deviation, variance, and coefficient of variation to insurance losses with arbitrarily heavy tails. After motivating and computing their mathematical forms, we apply the proposed measures to the case of Lévy-stable loss portfolios. Finally, the new measures are used to study the diversification properties of heavy-tailed losses.     

一种考虑稳定性的动态综合评价新模型

针对动态综合评价需要考虑被评对象的稳定性问题,提出了一种综合考虑指标权重、时间权 重和稳定性的动态综合评价模型。定义了稳定因子来表征被评对象指标的稳定程度,采用离 差最大化的方法确定指标权重,提出了一种基于极小范数时间权重确定方法。将所提模型应 用于军事IP网络评价,结果表明该模型能够把被评对象的稳定性反映到评价结果中。     

When do customers offer firms a “second chance” following a double deviation? The impact of inferred firm motives on customer revenge and reconciliation

The present research develops and tests a theory explaining how customers respond to failed service recoveries (i.e., double deviations). This work offers three novel and important conclusions. First, inferences about a firm's motive (negative vs. positive) mediate the impact of perceptions of the double deviation (i.e., severity, blame, and fairness) on resulting outcomes (i.e., customer anger, desire for revenge, and desire for reconciliation). Second, when inferred motive is positive, desire for reconciliation overwhelms desire for revenge, leading customers to choose more reparatory than retaliatory behaviors. Third, following a double deviation, firms that both compensate and apologize to customers can change customers’ inferred motives from negative to positive, leading customers to desire more reconciliation than revenge, and engage in more reparatory than retaliatory behaviors. These studies demonstrate that, contrary to common wisdom, customers do not always respond negatively to a double deviation, and firms still have a “second chance” following a failed recovery.