日本企业的海外投资与经验借鉴

同中国一样,日本企业进行海外投资也是一个渐进的过程。随着投资规模的不断扩大,日本企业积累了丰富的海外运营经验。本文依据投资规模将日本企业海外投资的过程划分为七个阶段,通过分析各阶段日本企业跨国经营的动因和特点,总结日本企业海外投资的成功做法,希望能够为正在实施“走出去”战略的中国企业提供借鉴。     

中小企业服务体系的动力因素:政府抑或中介组织

中小企业服务体系作为市场经济的产物,市场服务组织在服务提供过程中发挥着基础性的作用;政府和非营利性中介组织作为对市场服务供给失灵的补充,根据各自的职能优势,在服务提供中形成分工互补的关系。政府作为制度供给的主体,针对不同分布形态下市场条件与组织环境的差异,在中小企业服务体系的建设过程中分别发挥主导、引导和规制的作用。     

The Role of Bank and Corporate Balance Sheets on Early Warning Systems of Currency Crises—An Empirical Study

This study analyzes the role of bank and corporate balance sheets on early warning systems (EWS) of currency crises. Using firm-level data on debt structure, leverage, liquidity, and profitability, this study presents estimations of EWS for a panel of emerging markets. Using calibration experiments, we assess the performance of alternative EWS specifications in a comprehensive range of crisis-probability cut-offs?. These models supplement EWS based on traditional macroeconomic indicators, improving forecasting performance substantially. The results support the third-generation models of currency crises and can assist policymakers on the design of surveillance strategies tailored for heterogeneous levels of risk tolerance and country specificities.     

Technical Analysis as a Rational Tool of Decision Making for Professional Traders

The psychological background of technical analysis usage is investigated to further explain the popularity and common usage of technical analysis as an investment decision tool. Attitudes toward technical analysis of professional futures market traders and neophyte investors, represented by finance students, were examined. Technical analysis is one of the most popular methods supporting investment decisions and it is much more popular among future market traders than among neophyte investors. The concept of processing information was used to explain this phenomenon. Neophyte investors are more experiential and intuition-driven while using technical analysis models, while futures market traders are more rationally driven. Technical analysis methods help professional traders on futures markets, which are less transparent than regulated stock markets, to process information; those methods are perceived by them as rational, cognitive tools supporting their decision making.     

Came and gone? A longitudinal study of the effects of COVID-19 on tourism purchasing intentions

The study is based on a multi-year research conducted in three successive years (2019; 2020; 2021). Drawing from three samples (N = 507; 463; 488) it longitudinally examines the complexity and the derived chaordic systems of the impact of COVID-19 upon the purchasing intentions of adult Athenian holidaymakers by using fuzzy-set Qualitative Comparative Analysis. In doing so, it evaluates the simple conditions of impact of recession, destination selection, and price and quality risks, also progressing to a complementary examination through Necessary Condition Analysis. The findings generate three pathways (price-quality nexus; financial focus; destination orientation) leading to the same outcome (purchasing intentions), the hierarchy of which changed over time. They also highlight the impact of recession and quality risks as constant necessary conditions, and demonstrate the transformation over time of destination selection and price risks from influential to necessary. The contribution of the study lies in both the theoretical and methodological domains.     

What does luxury really mean to millennial consumers?

The aim of this study was to determine how millennial luxury consumers define luxury based on a holistic systems theory perspective. The human ecosystem and its components were used to fully investigate the system of the millennial luxury consumer. A mixed methodology was used by conducting interviews and then a consumer survey. Based on the findings from this research, the definition for luxury based on the view of the millennial luxury consumer is as followed: Luxury is the characteristics of the product themselves, addresses the consumer's personal needs, and addresses the consumer's social needs. This study suggests that the ecosystem of the millennial luxury consumers, including its environments and interactions, helped in constructing their definition of luxury. This definition delivers millennial luxury consumer insights for luxury retailers and may provide strategic adaptations to help attract and retain millennial luxury consumers, while also supporting business sustainability in a challenging retail environment.     

E-commerce sellers' ratings: Is user feedback adequate?

The literature on the theory of public procurement points out two well-known informational problems arising out of information asymmetry: (i) adverse selection and (ii) moral hazard. To reduce these issues and foster credibility and trust in the procurement process while maintaining quality and efficiency in public procurement, e-procurement platforms have turned to reputation or rating systems. Therefore, the research and design of such rating systems are crucial. In this study, we discuss the theoretical underpinnings of procurement and employ the information-theoretic, regression analysis, artificial neural network and principal component analysis (PCA) approaches to estimate the weights of the variables entering the rating system. Using real data from Government e-Marketplace, a business-to-business public e-commerce portal, we empirically determine the weights of the rating variables derived from the transaction-level and user feedback data for sellers. The weights obtained from the PCA are the most applicable compared with the other three methods. We compare the old rating system with the newly proposed design using the Wilcoxon signed-rank test. This results in a statistically significant difference between the two ratings. The canonical correlation and Wilks' trial reveal that the ratings derived from transaction-level data and user feedback are uncorrelated to a great extent. Hence, considering only transaction-level data or user feedback is unlikely to divulge sellers' intrinsic worth. E-commerce platforms can use this approach to quickly implement methods to obtain rating scores on a real-time basis for sellers on online platforms.     

施工现场质量管理体系刍议

对施工现场质量管理体系的概念、内容以及建立健全质量管理体系基本方法进行了分析,并根据作者的工作经验列举了建立健全质量管理体系及运行中应注意的问题.     

我国低效资本市场的负面影响及应对策略

长期以来 ,以证券市场为代表的我国资本市场一直处于低效弱效状态 ,这一市场态势已成为当前提升我国金融体系国际竞争力、深化经济体制、社会保障改革与金融市场应对加入WTO的最大障碍。我们的社会各界特别是政府部门应在借鉴外国高效的资本市场监管基础上 ,从立法与政策上采取得力措施进一步完善市场参与主体约束机制 ,改进入市股权所有制成份结构 ,准许国有法人股入市流通 ,健全市场信息披露制度 ,充分发挥市场价值规律 ,形成内在的价格均衡机制 ,降低平均交易成本 ,增强投融资效率 ,从而提高我国的资本市场效率 ,为提高我国金融体系国际竞争力、深化经济体制、社会保障改革 ,为应对加入WTO后的金融环境扫清障碍。     

安防通信工程对智能化小区建设的价值研究

随着科学技术和通信技术的发展,人们不再满足于传统简单的居住条件和居住功能,开始追求更重视人性化需求的高级住宅,智能化小区从而走进我们的生活.安全性作为智能化小区的首要目标,本文通过对安防通信系统的设置原则、安防通信系统的构成与应用的分析,表明了安防通信工程如何在智能化小区建设中发挥它的巨大价值.