CORRUPTION AND FOREIGN DIRECT INVESTMENT: A PANEL GRAVITY MODEL APPROACH

This paper investigates the relationship between corruption and foreign direct investment (FDI) in the case of 15 transition countries by using a panel gravity model approach and suggests that corruption does not deter FDI.     

Labor Income Taxation,Human Capital,and Growth: The Role of Childcare*

In this paper, we examine the effects of labor income taxation on growth in an overlapping generations model in which schooling and childcare play a role in the production of human capital. We compare such effects with those obtained in a model in which only schooling matters for skill formation. We show that the omission of childcare from the technology of skill formation can bias the results related to the impact of labor income taxation on growth.     

任务型教学法和传统3P教学在阅读课中的对比

任务型教学法在提高学生独立思考，应用语言表达自己思想和全面看问题方面的确有3P教学所不能及的效果。高职英语阅读教学更需要引入任务型范式来提高其英语应用能力。     

基于3G技术下的高校掌上数字图书馆的应用探索

在对诠释3G以及掌上数字图书馆概念的基础上,分析了3G技术对掌上数字图书馆高校受众的影响,探讨了在3G技术支持下的高校掌上移动数字图书馆的发展前景及其服务方向与趋势。     

Using survey data to resolve the exchange risk exposure puzzle: Evidence from U.S. multinational firms

This paper examines the effect of unexpected exchange rate movements on U.S. shareholder wealth. Empirical results based on a sample of 634 U.S. multinational firms (1) confirm previously reported evidence that the disaggregation of the worldwide trade-weighted U.S. dollar exchange rate index into seven region-specific trade-weighted indices increases the precision and significance of exposure estimates; (2) show that models assuming that changes in spot exchange rates are unanticipated are frequently misspecified and, thus, unable to correctly detect the impact of currency movements on firm value; (3) reveal that forward and survey expectations enable us to distinguish between the effect of ‘realized’ and ‘unexpected’ currency movements; and (4) reveal that investors making pricing and hedging decisions prefer to use the information contained in short-term forward and survey expectation rates to the information included in long-term forecasts.     

The Evolution of R&D Laboratories in the Brazilian Polymer Industry

ABSTRACT

Ronstadt observed that R&D laboratories in foreign subidiaries of American multinationals follow an evolutionary pattern of development. First, these laboratories adapt foreign technology to the local conditions and local raw materials. Later, laboratories focus their activity in obtaining product quality. In the last stage, these R&D units generate new technology of a long-term or exploratory nature for the corporate parent. Based on this theoretical background, this paper studies the evolution of R&D investments in polymer firms in Brazil. The methodology used was a case study conducted in 5 firms from the polymer area, complemented with secondary sources.

RESUMEN. Según Ronstadt, los laboratorios de I&D de las subsidiarias extranjeras de las multinacionales norteamericanas, cumplen un programa de desarrollo evolucionario. En primer lugar, estos laboratorios adaptan las tecnologías extranjeras a las condiciones locales y las materias primas existentes. A continuación, los laboratorios orientan sus actividades en obtener un producto de alta calidad. En la última etapa, estas unidades de I&D generan nueva tecnología de características a largo plazo o naturaleza exploratoria para la corporación matriz. Usando como base estos antecedentes teóricos, este documento estudia la evolución de las inversiones realizadas por las empresas de polímeros en el campo de la I&D en el Brasil. La metodología utilizada fue un estudio de caso realizado en 5 empresas fabricantes de polímeros, complementado con otras fuentes secundarias.

RESUMO. Ronstadt observou que os laboratórios de R&D em subsidiárias estrangeiras de multinacionais americanas seguem um padrão evolutivo de desenvolvimento. Primeiro, estes laboratórios adaptam a tecnologia estrangeira às condiç[otilde]es e às matérias-primas locais. Posteriormente, os laboratórios focalizam a sua atividade na obtenção da qualidade do produto. E, finalmente, estas unidades de R&D geram uma nova tecnologia para a matriz de natureza exploratória ou de longo prazo. Baseado nesta experiência teórica, este trabalho investiga a evolução dos investimentos de R&D em empresas de polímeros no Brasil. A metodologia usada foi um estudo de caso conduzido em cinco empresas da área de polímeros, complementada por fontes secundárias.     

ARE CONSUMERS MORE LOYAL TO NATIONAL BRANDS THAN TO PRIVATE LABELS?

The evolution of private labels (PLs) can be understood in terms of a strategy adopted by the retail industry with the aim of competing with national brands (NBs). In the 1990s, this strategy led to the development of ‘me too’ products, which currently represent the largest share of store brand products. Since the early 2000s, retailers have widened the range of their store brands by introducing high‐quality products. The aim of this study was to estimate consumers’ attachment to ‘me‐too’ and niche PLs respectively, as compared to NBs. We captured the degree of maturity of these PLs through their price‐elasticities, computed for three staple goods offered by three mass retail companies. It was found that price sensitivity does not differ much between the ‘me‐too’ PLs and the corresponding NBs. This result confirms that ‘me‐too’ products are now considered reliable quality brands. However, in the high quality segment, consumers remain more sensitive to the price of PLs than to that of NBs, a characteristic which may relate to their recent introduction on the market.     

Separating the Hawks from the Doves: Evidence from continuous time laboratory games

Human players in our laboratory experiment received flow payoffs over 120 seconds each period from a standard Hawk–Dove bimatrix game played in continuous time. Play converged closely to the symmetric mixed Nash equilibrium under a one-population matching protocol. When the same players were matched in a two-population protocol with the same bimatrix, they showed clear movement towards an asymmetric (and very inequitable) pure Nash equilibrium of the game. These findings support distinctive predictions of evolutionary game theory.     

Herding and bank runs

Traditional models of bank runs do not allow for herding effects, because in these models withdrawal decisions are assumed to be made simultaneously. I extend the banking model to allow a depositor to choose his withdrawal time. When he withdraws depends on his consumption type (patient or impatient), his private, noisy signal about the quality of the bank's portfolio, and the withdrawal histories of the other depositors. Some of these runs are efficient in that the bank is liquidated before the portfolio worsens. Others are not efficient; these are cases in which the herd is misled.     

企业国际化经营的市场进入方式选择

随着世界经济一体化进程的加快和我国成功地加入世贸组织,企业越来越普遍地从事国际化经营活动。正确选择市场进入方式是企业国际化经营成败的关键。本文着重分析了影响进入方式选择的主要因素,并基于这一领域的交易成本理论、组织行为理论、折衷理论等尝试构建了一个企业国际化经营的进入方式综合决策模型,以期对我国企业实施“走出去”战略提供有益的借鉴。