两个灰距离空间(■d)(■.ρ)

本文在邓聚龙教授提出的层次型灰数和信息型灰数——经典有理灰数的基础上,用近代分析的方法,给出两种灰距离空间(/.d)和(/.p),并结合几何直观将两种灰距离进行了比较。     

The role of geographic distance in completing related acquisitions: Evidence from U.S. chemical manufacturers

Acquisitions often do not reach completion when buyers' initial evaluations change during post‐announcement due diligence investigations, but research offers only limited explanations for when such deal‐cancelling new information will be most common. Drawing from the spatial geography and acquisition strategy literatures, we argue that successful completion of acquisitions can be partially explained by their spatial characteristics. We start by predicting that geographic distance has a particularly strong impact in reducing the likelihood of completing related acquisitions; we then identify contingencies based on multiple forms of direct, contextual, and vicarious experience that can help acquirers overcome the constraints of distance. We test the arguments with a sample of 1,603 domestic acquisitions announced by 724 U.S. chemical manufacturing firms between 1980 and 2004. Copyright © 2015 John Wiley & Sons, Ltd.     

Direct intervention or indirect support? The effects of cooperative control measures on farmers’ implementation of quality and safety standards

In recent years, labor-intensive agricultural products from developing countries have exhibited inferior performance in international trade due to quality and safety incidents, among which pesticide residue is a major issue. Aiming to improve food quality and safety in the context of cooperatives, we introduced three categories of control measures: outcome control, process control and social control. Based on the Pre-Harvest Interval Standard (PHIS), we selected three indices, farmers’ implementation rate of PHIS, absolute distance to PHIS and relative distance to PHIS, to evaluate appropriateness of pesticides use, reduction of pesticide residue and safety improvements of agricultural products. By using random sampling survey data, we empirically analyzed the marginal effects of control measures and their combinations on food quality and safety standards. The empirical results show that implementing process control, namely, unified production standards or supply of unified agricultural inputs, can comprehensively improve farmers’ implementation rate of PHIS, absolute distance and relative distance to PHIS respectively by 34.9%, 3.2 days and 46.0% on average. While the effects of outcome control (safety inspection) and social control (bonus-penalty incentive or training) are restricted to other measures. Therefore, we suggest cooperatives should take farmers’ features, implementation conditions and the effects of control measures into consideration in order to make a sustainable management plan for improving food quality and safety and enhancing competitiveness in international markets.     

Financial development and barriers to the cross-border diffusion of financial innovation

This paper explores the determinants of financial development by focusing on the role played by barriers to the diffusion of financial technology. These barriers are measured using human genetic distance from the technology frontier. The results based on cross-sectional data for 123 countries suggest that genetic distance to the global frontier has an economically and statistically significant effect on financial development, in that countries that are genetically far from the technology leader tend to have lower levels of financial development. Genetic distance is found to have the largest effect, even after controlling for other determinants of financial development established in the literature. These findings indicate that cultural barriers to the diffusion of financial technology across borders impact financial development by influencing the follower countries’ ability to adopt and adapt innovations from the frontier.     

基于全局局部保留投影与测地距离的气化炉故障检测方法

高温、高压、强腐蚀工作环境下的气化炉易发生仪表测量故障,进而影响煤制油、煤制甲醇等生产工艺,甚至危及人员安全。针对上述问题,提出了一种基于全局局部保留投影（global-local preserving projection, GLPP）算法与测地距离的气化炉故障检测方法。首先,采用GLPP算法提取样本邻域确定的数据局部特征;然后,提出一种基于测地距离度量样本的非近邻关系的数据全局特征提取方法;进一步,利用提取的全局特征构建相应的统计量来进行故障检测。最后,分别通过田纳西伊斯曼（Tennessee Eastman, TE）与真实气化炉2个案例验证所提出方法的有效性和可行性。     

Micromultinationals: Some Preliminary Evidence on an Emergent ‘Star’ of the International Entrepreneurship Field

This paper provides some preliminary evidence on the behaviour of the micromultinational, an emergent player in the international entrepreneurship field. Using survey data from the Scottish Council for Development and Industry, it found that mMNEs originate from a mixture of high and low technology sectors and employ Foreign Direct Investment as well as international contractual approaches in servicing their foreign target markets. It also concluded that micromultinationals overseas market selection decisions were mainly influenced by market- and knowledge-seeking factors rather than considerations of psychic proximity. The implications of these summary findings for policy, theory and future research are discussed in the paper.     

NGOs’ influence on MNEs’ social development strategies in varying institutional contexts: A transaction cost perspective

In this paper, we examine the effect of nongovernmental organizations (NGOs) on the transaction costs multinational enterprises (MNEs) assume in their nonmarket social development strategies. We develop propositions to predict the effect of three important aspects of the institutional context on how NGOs affect MNE transaction costs: institutional development, institutional distance and institutional dynamism. We also propose how these relationships are moderated by the level of civil society development in the countries in which these entities interact. We conclude with suggestions for further research.     

Are accounting academics culturally intelligent?: An empirical investigation

Cultural diversity within accounting university classrooms creates a number of educational challenges that have been little investigated. This study draws on the theoretical framework of cultural intelligence (CQ), which is new to accounting research, to enhance understanding of the intercultural capabilities of accounting academics. CQ is comprised of four interrelated capabilities: metacognitive, cognitive, motivational and behavioural. The previously validated cultural intelligence scale (CQS) survey was used to identify CQ levels and results were compared to demographic variables and other factors in order to explain differences. The results indicate that accounting academics display levels of CQ at the lower end of comparable studies on other professionals. Results also show that academics who have lived abroad for longer than one year and who have taught transnationally in Southeast Asia are likely to possess significantly higher levels of total CQ. Female accounting academics are more likely to possess higher levels of behavioural CQ indicating a propensity to more easily adapt their behaviour in culturally diverse situations. This paper contributes to the growing literature on CQ by increasing our understanding of the antecedents that influence CQ levels in the area of international experience, through the examination of the potential impact of overseas teaching experiences and overseas residency. Furthermore, this study introduces and examines new measures capturing the breadth and depth of international experience; that of long-term overseas residency and cultural distance.     

The effects of refugee and non-refugee immigrants on US trade with their home countries

Employing data on US immigrants and trade with 59 home countries for the years 1996–2001, we compare the extent to which refugee and non-refugee immigrants affect US trade with their home countries and provide the first evidence of variation in the US immigrant–trade relationship across immigrant types. We also consider the abilities of refugee and non-refugee immigrants to offset the trade-inhibiting influence of cultural distance. Our results show that while immigrants, in general, exert positive influences on US imports from – and exports to – their home countries, the influence of refugee immigrants is quite minimal when compared with that of non-refugee immigrants. For both immigrant types, however, evidence supporting the notion that immigrants act to offset cultural distance is observed. To conceptualize the economic meaning of our results, we provide estimates of the extent to which each type of immigrants offset transport costs.     

Cross‐sectional Tests of Conditional Asset Pricing Models: Evidence from the German Stock Market

We study the performance of conditional asset pricing models and multifactor models in explaining the German cross‐section of stock returns. We focus on several variables, which (according to previous research) are associated with market expectations on future market excess returns or business cycle conditions. Our results suggest that the empirical performance of the Capital Asset Pricing Model (CAPM) can be improved when allowing for time‐varying parameters of the stochastic discount factor. A conditional CAPM using the term spread explains the returns on our size and book‐to‐market sorted portfolios about as well as the Fama‐French three‐factor model and performs best in terms of the Hansen‐Jagannathan distance. Structural break tests do not necessarily indicate parameter instability of conditional model specifications. Another major finding of the paper is that the Fama‐French model – despite its generally good cross‐sectional performance – is subject to model instability. Unconditional models, however, do a better job than conditional ones at capturing time‐series predictability of the test portfolio returns.