管理股权、会计选择与盈余质量

本文根据异常应计项目框架和修正的Jones模型,以1995—2004年上市公司数据为样本,对上市公司管理股权通过会计选择影响企业的盈余质量进行了分析。实证研究发现,管理股权比例与盈余质量之间呈U型分布,相对集中的管理股权有利于提高盈余质量。     

Where do manufacturing firms locate their headquarters?

Firms often separate headquarters' (HQ) functions physically from their production facilities and construct stand-alone HQs. By locating its HQ in a large, service oriented metro area away from its production facilities, a firm may be better able to outsource service functions in that local metro market and also to gather information about market conditions for their products. However if the firm locates the HQ away from its production activity, the coordination costs in managing plant activities are increased. In this paper, we empirically analyze the trade-off between these two considerations.     

Does experience imply learning?

Research summary : Research traditionally uses experiential learning arguments to explain the existence of a positive relationship between repetition of an activity and performance. We propose an additional interpretation of this relationship in the context of discrete corporate development activities. We argue that firms choose to repeat successful activities, thereby accumulating high experience with them. Data on 437 aircraft projects introduced through three governance modes show that the positive performance effect of the firm's experience with the focal mode becomes insignificant after accounting for experience endogeneity. We suggest that in a general case, experience with corporate development activities may be tinged with both learning and selection effects. Therefore, omitting to account for experience endogeneity may lead to incorrect conclusions from an “empirically observed” positive experience–performance relationship. Managerial summary : This paper emphasizes that firms generally choose to undertake the corporate development activities (new product introductions, diversification moves, international expansions, alliances, acquisitions, etc.) with which they have been the most successful in the past and that they expect to be the most successful in the future. Hence, if a firm possesses certain capabilities, it will repeatedly engage in certain activities corresponding to those capabilities, thereby simultaneously achieving high levels of activity experience as well as superior activity performance. This view suggests that an “empirically observed” positive experience–performance relationship may not be due solely to learning‐based enhanced capabilities but may also be driven by astute self‐selection. Overall, we provide a new interpretation of the relationship between experience and performance in the context of infrequent, heterogeneous, and causally‐ambiguous corporate development activities. Copyright © 2015 John Wiley & Sons, Ltd.     

复杂山区铁路客运站自动选址研究

无备选站址条件下的客运站自动选址是线站协同优化的前提和基础,而不局限于车站选址的代价最小化,同时考虑连接车站间区间线路的代价具有重要意义。构建复杂山区铁路客运站自动选址模型,首先,建立综合地理信息模型,基于线站一体化的设计理念,实现单个车站选址,确定站心位置及站坪方向;其次,以公路线形优化模型的改进算法完成站—站间自动选线设计;最后,将车站选址代价与区间线路代价紧密结合起来,计算综合代价,实现站址方案的优选。以山区铁路为例对该方法进行验证,结果表明,该方法能高效生成山区铁路车站方案集,并辅助设计人员进行方案优化。     

高新技术企业对外直接投资区位选择研究——基于产业集群的视角

高新技术产业集群具有明显的区位优势并逐渐成为高新技术企业对外直接投资区位选择的新取向,高新技术企业也只有真正嵌入集群网络中,才能更好地获取集群创新资源.深入探究基于产业集群的高新技术企业对外直接投资区位选择问题,对于我国高新技术企业的发展具有重要的理论与实践意义.     

走出企业战略内容和定位的误区

随着社会主义市场经济体制的初步确立,我国的企业开始走出忽视战略管理的泥潭,人们对企业战略的研究正方兴未艾。然而,目前在对企业战略的理解和应用上又存在着诸多的误区,并且严重制约了企业的健康发展。本文探讨了企业战略内容和定位失误的具体表现及其校正的方法。     

Who will make an indulgent food choice after having fulfilled their healthy eating goal?

This research considers how subjective nutrition knowledge and calorie consciousness moderate the effects of eating goals on indulgent vs. healthy consumers and their on subsequent choices. A two between‐subjects design (an eating goal invoked by a main course: healthy vs. indulgent) was conducted, where the choice of salad dressing (healthy or indulgent) was a dependent variable. Two individual traits (subjective nutrition knowledge and calorie consciousness) were considered as moderators between eating goals and food choices. The results indicated that individuals with high levels of subjective knowledge about nutrition or with a high level of consciousness about calories were more likely to choose a healthy option when their indulgent goal had been invoked. However, they were more likely to make indulgent choices when their healthy goal had been fulfilled by the main course. In contrast, for those with low levels of subjective nutrition knowledge or with a low level of consciousness about calories, food choices were not influenced by the eating goal which had been invoked. The findings could help practitioners in the food industry to develop different food combinations with which to satisfy their customers through understanding personality traits.     

公共服务、城市规模与人才区位——基于新空间经济学理论的分析

将城市规模引入新空间经济学理论模型,探讨公共服务、城市规模对人才区位的影响机制,并且利用2011-2017年CMDS微观数据匹配244个城市数据进行实证检验。结果显示：①城市规模对公共服务影响人才区位具有非线性门槛效应,只有当城市规模满足一定门槛条件时,增加公共服务供给才能显著吸引人才流入;②全国层面的实证分析有效验证了理论预期;③分区域看,东部与中西部地区门槛条件具有异质性,东部地区人才流动呈现竞争效应,中西部地区呈现集聚效应;④分城市等级看,大城市与中小城市门槛条件差异明显,满足门槛条件时,加大中小城市公共服务供给,吸引人才效果会更显著。最后提出基于城市规模和区域异质性的公共服务供给对策。     

Perceived trade-off between education and sports career: evidence from professional football

To explore the attitudes towards risky career choices of young people in highly competitive environments, we surveyed almost 1000 football players in the youth academies of German professional clubs (Bundesliga), who must generally decide early in their careers whether or not to risk quitting school to focus solely on a professional football career. Based on the survey responses, we empirically analysed which factors influence these youths’ tendencies to choose a high-risk career option over a lower risk one. Our results seem to indicate that such risk taking in competitive environments can be explained by potential benefits expected from this decision, as well as judgments about the likelihood of achieving the desired career. Risk attitudes towards career choices vary by differences in individuals’ estimates of the potential benefits and in particular, in their own assessments of the likelihood of success, which is an important driver of risk acceptance. We also found that opportunity cost considerations influence risk acceptance: the better the low-risk option, the less willing the individual to give it up for a high-risk alternative. In addition, both national origin and level of cultural integration play a role in attitudes towards risky career choices, with reductions in the latter increasing the risk premium of quitting school.     

国际人才流入是否影响我国FDI区位选择

根据相关经验研究及理论模型可知,国际人才流入可通过降低国际贸易壁垒提高贸易自由度。利用2006-2013年中国内地29个省市面板数据,实证分析了国际人才流入对FDI区位分布的影响。结果显示,国际人才流入与地区FDI水平显著正相关,但国际人才流入对FDI区位分布的影响存在一定区域差异。同时,国际人才流入与企业经营环境及地理集聚水平之间存在某种替代效应,即国际人才流入能够在一定程度上弥补由于企业经营环境缺失和地理集聚水平低下带来的负面影响。此外,良好的企业经营环境和较高的地理集聚水平也对FDI区位分布具有重要影响。上述结论对于我国进一步提升外商直接投资国际竞争力及促进我国FDI区域分布平衡具有重要理论参考价值,同时也对其它新兴发展中国家具有启示作用。