Institutions,resources, and internationalization of emerging economy firms

An important step in the internationalization process of emerging economy firms is the shift from exports to foreign direct investment (FDI). We integrate the resource- and institution-based views to suggest that firms that can use unique institutional advantages are more likely to make this shift. We test these arguments with a longitudinal sample of 28,563 firm-year observations (1989–2005). We found that firms that are affiliated with a business group, have more firm- and group-level international experience, have more technological and marketing resources, and operate in service industries are more likely to shift from exports to FDI.     

基于机构投资者非理性报价的IPO定价分析

本文主要研究机构投资者非理性报价行为。在发行人(发行人与承销商的统称)理性假设下,建立模型并研究了机构给出不同价值信号时的发行价格设定与机构获配情况。文中分析发现当机构投资者拥有好的价值信息时,发行人的报价约束是有效的;当其拥有不好的价值信息时,报价约束完全不起作用,机构投资者会蓄意传达无价值或是好的信号,造成新股价格高于其价值。     

Optimal investment strategies in an international economy with stochastic interest rates

We investigate how investors should optimally choose to invest in a dynamically complete international market. We find closed-form solutions for the optimal investment strategy and for the wealth loss an investor suffers from not investing internationally. Theoretically, we show that the gain from international investment is due to the speculative investment only, and why it is important for an investor from a large economy to invest in a small economy. In a numerical example we compare the wealth losses investors from Denmark and the U.S. suffer due to home bias.     

Financial deregulation,credit allocation across sectors,and economic growth: evidence from China

This paper investigates whether financial deregulation causes economic growth through financial development. Financial development is measured by two channels: (1) changes in the allocation of credit across sectors, and (2) changes in savings and investment rates. We measure financial deregulation in China at the provincial level from 1981 to 1998. Our results suggest that financial reform causes economic growth in China. Further, its effect largely comes through the reallocation of credit across sectors, rather than changes in savings and investment rates.     

Gender Differences in Time-Poverty in Rural Mozambique

Based on time-use data from a 2013 primary household survey, this study examines the nature and extent of time-poverty experienced by men and women in peasant households in Mozambique. The main findings indicate that while women's labor allocation to economic activities is comparable to that of men, household chores and care work are almost entirely women's responsibility. The heavy burden of responsibilities leave women significantly time-poorer compared to men. Women's time-poverty worsens when the burden of simultaneous care work is taken into account. In addition, due to multitasking, the work tends to be more taxing. The examination of determinants of time-poverty shows that common measures of individual economic power, such as assets and education, do not necessarily affect the time-poverty faced by women.     

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.     

Models for relief routing: Equity, efficiency and efficacy

In humanitarian relief operations, vehicle routing and supply allocation decisions are critically important. Similar routing and allocation decisions are studied for commercial settings where efficiency, in terms of minimizing cost, is the primary objective. Humanitarian relief is complicated by the presence of multiple objectives beyond minimizing cost. Routing and allocation decisions should result in quick and sufficient distribution of relief supplies, with a focus on equitable service to all aid recipients. However, quantifying such goals can be challenging. In this paper, we define and formulate performance metrics in relief distribution. We focus on efficacy (i.e., the extent to which the goals of quick and sufficient distribution are met) and equity (i.e., the extent to which all recipients receive comparable service). We explore how efficiency, efficacy, and equity influence the structure of vehicle routes and the distribution of resources. We identify trends and routing principles for humanitarian relief based on the analytical properties of the resulting problems and a series of computational tests.     

Blocking efficiency in an economy with asymmetric information

In this paper, we study a pure exchange atomless economy with asymmetric information and having an ordered Banach space with an interior point in its positive cone as the commodity space. An extension of the main theorem in Vind (1972) to the private core without free disposal is established. As a particular case of this result, a solution to a problem mentioned in Pesce (2010) is derived.     

企业人员招聘中存在的问题与对策研究

当今社会,人才已经成为企业最宝贵的财富,招聘是企业人力资源配置的前提和首要工作,人才招聘实施的成功与否,事关企业的生存与发展。     

数据生产理论——数据资源权利配置的基础理论

人类正在进入数据驱动的时代,数据成为社会的基础资源,但数据一直被认为处于公共领域并妨碍着数据权利化,困扰着数据资源利用秩序的建立。描述特定对象的数据并不是天然存在的,而是被生产出来的,并将数据价值（预测分析、发现新知）的实现过程界分为原始数据生产（采集）、数据集生产（汇集性处理）和数据分析（分析性处理）三种行为,并将前两个行为称为数据生产,提出数据生产理论。数据生产理论首先应区分数据生产和数据分析,原始数据的生产是建立在分析原材料提供者基础之上,应承认其价值并配置适当权利,以满足各种分析目的的数据集的生产。同时,数据生产还应区别数据来源,来源于个人的数据并不一定是个人生产的,只有个人在提供或创制了数据时才是数据的生产者。因此,数据生产理论是在将数据视为一种资源的情形下为数据上权利配置提供理论支撑,通过配置相应权利,构筑从原始数据生产者到数据集生产者,再到数据分析者的数据利用秩序。