Capital maintenance and depreciation over the business cycle

This paper develops and estimates a stochastic general equilibrium model with capital maintenance, which affects endogenously the depreciation rate of capital. The estimate of maintenance series is found to track survey-based measures for Canada quite closely and to generate the procyclical pattern of maintenance observed in the data. We use our model estimates to infer the time profile of equipment capital depreciation in Canadian and US manufacturing. The depreciation rate is estimated to be volatile and highly procyclical in both countries.     

中国“老字号”企业的经营现状与发展前景

文章以对12个省/市的378位"老字号"企业管理人员的问卷调查资料为基础数据,描述和分析了"老字号"的经营现状(如竞争优势、存在的不足、最需改进的方面)和发展前景,认为在新一轮的激烈市场竞争中,"老字号"企业不但需要不断适应外部市场变化的全球化和本土化的双重压力,而且需要在企业内部将传统的与现代的两种优势相结合,将已有的与新生的两种竞争力相结合(简称"双结合"),以便具备核心能力。这种"双结合"的核心能力不仅可以使"老字号"企业拥有一定的竞争优势,而且可以让其优化企业价值链管理,持续增强企业市场竞争力。     

Decomposing Impression from Attitude in Relationship Management Outcomes

This study expands relationship management theory by testing the linkages between perceived relational quality, organizational impression, and attitude in affecting the behavioral intention of customer public of five major banks. A survey of 1,178 banking customers showed that perceived relational quality, organizational impression, and individual attitude, significantly affected supportive behaviors. Organizational impression was found to be almost three times more determinant than perceived relational quality in affecting individuals' attitudes, and subsequently, their supportive behaviors. By highlighting the role of organizational impression, linkages between the relationship management perspective and other theoretical frameworks, such as image repair, become apparent; bearing implications for scholarship and practice.     

HOW DO FISCAL CONSOLIDATION AND FISCAL STIMULI IMPACT ON THE SYNCHRONIZATION OF BUSINESS CYCLES?

Using quarterly data for a panel of advanced economies, we show that synchronized fiscal consolidation (stimulus) programmes in different countries make their business cycles more closely linked. We also find: (i) some evidence of decoupling when an inflation targeting regime is unilaterally adopted; (ii) an increase in business cycle synchronization when countries fix their exchange rates and become members of a monetary union; (iii) a positive effect of bilateral trade on the synchronization of business cycles. Global factors, such as a rise in global risk aversion and uncertainty and a reversal of nonstandard expansionary monetary policy, can also reduce the degree of co‐movement of business cycles across countries. From a policy perspective, our work shows that an inflation targeting regime coupled with simultaneous fiscal consolidations can lead to more business cycle synchronization.     

高职院校学生管理工作现状与对策研究

近年来,随着学生生源素质的不断下降,毕业生就业压力也随之加大,给我国高职院校的学生管理工作带来了新的挑战。本文结合高职院校存在管理理念落后,管理方法单一,学生自我约束差,生源层次不齐,网络化、信息化给学生带来的冲击等问题,提出将以人为本、校园文化、企业愿景和队伍建设融入到学生管理中,从而形成更加科学的管理体系和制度。     

Engaging Australian small-scale lifestyle landowners in natural resource management programmes – Perceptions,past experiences and policy implications

This study explores Australian small-scale rural lifestyle landowners’ perceptions of and experiences with natural resource management (NRM) extension and incentive programmes and discusses means to better-match such programmes to these landowners’ NRM interests, assistance needs and delivery preferences. Data was collected from seventeen in-depth qualitative case-studies of small-acreage landholders located in the Noosa hinterland in south-east Queensland. These landholders indicated a high need for expert advice, labour and other resource assistance to achieve their property management objectives. They had, however, a low-level of awareness and understanding of available programmes (particularly incentive schemes) that could provide some of their needed support. Other key barriers to the landholders’ participation in these programmes were aversions to support providers, a perceived unsuitability of properties or irrelevance of particular incentive programmes, and concerns about programme application procedures or property-rights and value-related implications of engagement. Increased NRM engagement among small-scale lifestyle landowners may be achievable through amendments to existing support programmes and better communication of these programmes. The design and delivery of appropriate measures and messages may require collaborative partnerships, with knowledgeable and influential ‘go-to’ landowners and peer-mentoring networks playing a critical role. In many cases, conservation-focused incentive programmes may need to facilitate cooperative NRM among groups of adjoining micro-scale lifestyle landowners and allow greater flexibility in the length and allowable land and forest management practices of contractual agreements. Moreover, small-scale lifestyle landowners have much interest in and need for support to integrate multi-purpose agroforestry systems with other environmental and aesthetic property management goals. Workshops, follow-up field-days on participating properties, free one-on-one on-property advice, and NRM guides that include detailed case-study accounts of landowner experiences are important means of communicating the availability, administrative requirements and benefits of support programmes to small-scale lifestyle landowners.     

Managerial Commitment to Sustainable Supply Chain Management Projects

Most companies are under pressure to improve the environmental sustainability of their supply chains. However, there is considerable variance in companies' ability to successfully deploy environmental management projects. One important factor, according to articles in the academic and business press, is the ability of champions of sustainable supply chain management (SCM) projects within organizations to gain the commitment of colleagues (e.g., other managers from a variety of functions) to help these projects succeed. Therefore, this paper examines variables that affect a project champion's ability to gain this commitment from colleagues. In particular, building on existing research, this research employs a video‐based experimental design to examine the effect of the influence approach that the project champion employs, the values of the person the champion is trying to influence, and the organizational climate. The results suggest that organizational climate and certain individual values directly affect commitment. There are also interactions between values and influence tactics. The research adds to the field's growing knowledge on the antecedents of sustainable SCM within companies while providing valuable guidance for environmental champions and for top managers.     

Waves and Determinants in Mergers and Acquisitions: The Case of Latin America

This article contributes to the current literature on mergers and acquisitions (M&As) by identifying the existence of waves and the determinants of M&A activity in the economies of Argentina, Brazil, Chile, Colombia, Mexico, and Peru. From a sample of 2,391 M&A announcements reported by Thomson One on these countries, applying the methodology proposed by Harford (2005), evidence of M&A waves is found for the periods 1995–2002 and 2003–2010, as reported for other regions in various international studies. After controlling for economic and business environment variables, as well as for profitability and book-to-market variables at the industry level, we find evidence that supports neoclassical theory as a main explanation for M&A activity but not for the misvaluation effect.     

Is there decentralization in North Korea? Evidence and lessons from the sloping land management program 2004–2014

In the 1990s, the Democratic People’s Republic of Korea (North Korea) suffered from severe food shortages and large-scale deforestation, which triggered a stage of rural conservation reform. Since 2004, with support from the Swiss Agency for Development and Cooperation (SDC), North Korea’s Ministry of Land and Environmental Protection (MoLEP) has implemented a Sloping Land Management Program (SLMP). The SLMP established sloping land user groups and granted these groups the right to use marginal land for agroforestry development. This devolution of land rights from state control onto local groups is a landmark in North Korea, and this decentralization initiative has now expanded to over eight counties to involve thousands of households. It has also led to the launch of a National Agroforestry Policy and Strategy. Drawing from both qualitative and quantitative data collected from 2008 to 2014, this paper documents the process and effects of the SLMP. It argues that the decentralization reform in land management has contributed to not only food security with increased food crop diversity and productivity, but also notably forest recovery through an expansion of tree plantations and agroforestry practices on degraded sloping lands. However, an insufficient power transfer in the form of a lack of timber rights granted to the local user groups has hampered the effectiveness of the SLMP. There are also institutional and geopolitical challenges that are limiting further scaling-up of land-use decentralization across the country. The policy implication calls for more international investment as well as national land-use policy reforms in order to promote and facilitate further decentralization of sloping land management and to secure greater use rights for sloping land user groups.