Efficiency of travel agencies: A case study of Alicante,Spain

This study analyses the relative efficiency of 22 travel agencies of similar characteristics based in Alicante (Spain). This analysis is carried out using the Data Envelopment Analysis (DEA) technique and smoothed bootstrap. Following the analysis, possible lines of action that the agencies can take in order to improve their efficiency in the future are provided. Finally, using the Mann Whitney U Test, the relationship, or lack thereof, between the levels of efficiency of these agencies and their ownership type, location and level of experience is examined.     

改革开放以来我国商品流通速度波动的实证研究

商品流通速度是衡量流通部门运行质量的一个重要指标.商品流通速度的快慢不仅关系到经济的总体运行状况,更反映了流通部门资金的利用效率.改革开放以来,我国的商品流通速度得到了持续提高,但商品流通速度的宏观模型却反映出商业规模因素是促使其提高的主要因素.而通过商品流通速度与流通资本利用效率分析发现流通部门的资金利用效率则呈现下降趋势.     

政府教育支出效益的有限性分析及模型

我国政府教育支出与国民经济发展的速度不相适应 ,应该继续加大对教育的支出 ,改善支出结构。政府教育支出效率要受到政府财力、公共支出政策及国家教育政策目标的约束 ,但无论政府教育支出的效率如何 ,都会产生对社会公共教育需求和社会发展的积极影响。本文在确定政府教育支出所产生效益的指标后 ,用模型分析了政府增加教育支出的效益 ,并进行评价 ,认为当前我国政府应该调整教育政策目标 ,减少高等教育支出比例。     

我国东中西部高技术产业TFP比较分析

近10年来，我国高技术产业发展相当快，已成长壮大为国民经济重要的动力型先导产业。1995至2005年期间，我国高技术产业的增加值由1081亿元提高到8000亿元，高出规模以上工业2.7个百分点，对工业增长的贡献率达到13.2%，拉动工业增长约1.8个百分点，高技术产品出口额占全国外贸出口的比重达到28.6%。同时，高技术产品结构也进一步得到完善，正在向技术含量高、消费需求大的方向加速优化。总体来看，我国高技术产业继续保持了快速、健康、协调发展，对拉动国民经济增长、推动产业结构优化的作用日益明显。为了进一步弄清楚高技术产业的发展状况，本文着重从全要素生产率的角度，运用基于非参数的Malmquist指数方法和版面数据对我国三大区域进行了定量考察。通过对区域高技术产业发展差异分别从技术进步、技术效率和规模效率三个方面进行详细的描述，有针对性地提出相关对策建议，这对政府制定高技术产业发展政策、合理配置科技资源以及高技术企业的经营管理决策具有着重要的意义。     

Portfolio efficiency of a dynamic capital asset pricing model

In the present study we show that, based on equally weighted portfolios of continuously listed Finnish and Swedish stocks, aDynamic Model of Capital Asset Pricing (DCAPM) outperforms the static Capital Asset Pricing Model (CAPM) in the Super Criterion Test. It is demonstrated that the portfolio efficiency of the dynamic model is improved, when using a properly defined transition matrix in the Kalman Filtering Algorithm.The advice and encouragement of Professor Leif Nordberg (Department of Statistics, Åbo Akademi University) is gratefully acknowledged. I thank Jaana Aaltonen for her assistance in monitoring the computer programs. I also thank an anonymous referee for his valuable comments and suggestions for improving the quality of the paper.     

The Significance of Credit Rationing on Real Investment Activity – A Test for the Significance of Capital-Market Imperfection in Japan

Does bank credit matter to the real investment finance of firms? If so, to what kind of firms does it matter, and why? Despite the progress of research in this field, there is still little empirical consensus on these problems. This paper contributes to the understanding of capital-market imperfection in Japan by answering these questions. I introduce new methods to test the significance of credit rationing and show that bank credit is indeed a very important determinant of real investment activity of small firms. The availability of long-term loans has particularly significant effects on the investment opportunities of small firms, although large firms with capital of more than 1 billion yen are free from credit rationing. JEL Classification Numbers: C51, E44, G21.     

Optimal safety stock levels of subassemblies and manufacturing components

In order to control the time to market and manufacturing costs, companies produce and purchase many parts and components before receiving customer orders. Consequently, demand forecasting is a critical decision process. Using modular product design and super bills of materials are two effective strategies for developing a reliable demand forecasting process. They reduce the probability of stockouts in diversified production contexts. Furthermore, managing and controlling safety stocks for pre-assembled modules provide an effective solution to the problem of minimizing the effects of forecast errors. This paper develops, evaluates, and applies innovative cost-based analytical models so that the optimal safety stock of modular subassemblies and components in assembly to order and manufacturing to order systems, respectively, can be rapidly quantified. The implementation of the proposed models in two industrial case applications demonstrates that they significantly reduce the safety stock inventory levels and the global logistical cost.     

中国企业境外上市动因及影响因素分析

至今为止,已经有许多理论对企业海外上市进行了研究,然而大多数理论的出发点是国外发达国家的资本市场,其分析的样本也主要来自于国外的上市公司数据。本文将主要通过对截至2007年为止能够搜集到数据的1593家A股上市企业和574家海外上市企业,来研究A股上市和海外上市对中国企业的影响和特点。     

新经济环境下中国企业效率管理创新之我见

作为研究企业管理方法的学科，企业管理内容是广博而宽泛的。其中任务管理法、人本管理法、目标管理法和系统管理法是倍受企业界青睐和推崇的管理思路和方法。在这些企业管理方法为企业的发展做出重大贡献的同时，企业发展实践中暴露出的诸多问题又不得不使我们清醒地意识到这些管理方法都只是在一定的管理环境中针对于某一特定的组织，本文正是从管理的本质出发，讨论效率管理在管理方法中的核心地位和作用，关注于效率管理在新经济环境下的发展现状，并由此提出效率管理的创新思路及方法。     

基于DEA模型的城市集约经营效率分析——以我国的15个副省级城市为例

DEA方法是进行相对有效性评价的一种方法，本文利用DEA模型的两种形式对我国15个副省级城市的集约经营效率进行了比较分析，并探讨了制约我国集约经济发展的重要因素及其对策。