On Quality and Variety Bias in Aggregate Prices

How do product variety and quality affect the aggregate price bias? We develop a general equilibrium model that accounts for the joint interaction of product quality and variety. Our findings show that the aggregate price bias is procyclical and the contribution of product variety is persistent whereas the contribution of product quality becomes countercyclical in the medium to long run. We show that accounting for product quality and variety has critical implications on the measure of cyclical fluctuations. Measurements of cyclical fluctuations derived using the consumption deflator, which abstracts from changes in product quality and variety, underestimate the variables' true volatility.     

Cross‐Firm Real Earnings Management

Our analysis is rooted in the notion that stockholders can learn about the fundamental value of any firm from observing the earnings reports of its rivals. We argue that such intraindustry information transfers, which have been broadly documented in the empirical literature, may motivate managers to alter stockholders’ beliefs about the value of their firm not only by manipulating their own earnings report but also by influencing the earnings reports of rival firms. Managers obviously do not have access to the accounting system of peer firms, but they can nevertheless influence the earnings reports of rival firms by distorting real transactions that relate to the product market competition. We demonstrate such managerial behavior, which we refer to as cross‐firm real earnings management, and explore its potential consequences and interrelation with the practice of accounting‐based earnings management within an industry setting with imperfect (nonproprietary) accounting information.     

易逝性新兴技术产品的自噬效应及其对策

从高技术产品的更新期入手,通过梳理以往文献,定义了易逝性新兴技术产品的概念和特征。通过案例分析,总结了易逝性新兴技术产品中自噬效应的影响,并尝试建立一个统一框架帮助不同背景的企业解决在新兴技术产品更新过程中出现的自噬问题。     

Do environmental regulations hamper small enterprises' market entry? Evidence from China

Due to the serious increase of environmental pollution in China, environmental regulations have become significantly stringent. Such regulations are playing an increasingly important role in the development of small enterprises (SEs) in China, especially in SEs' market entry. However, existing studies pay little attention to this issue. This paper investigates for the first time the effect of environmental regulations on SEs' market entry and the mechanism of environmental regulation effects in China. We consider two sets of panel data for the periods 2003–2010 and 2012–2015 in China. We also use the fixed effect model and the instrumental variable method to explore the role of environmental regulations in SEs' market entry. The results show that, overall, environmental regulations play a significantly positive and robust role in SEs' market entry. However, the mechanisms associated with the effect of environmental regulations on different innovative types of SEs differ. Environmental regulations promote the market entry of SEs with product innovation, but this impact is not significant for SEs with research and development (R&D) activities and R&D institutions. Our findings indicate that China's SEs prefer product innovation, which is a lower level innovative type, over R&D innovation, as a means to avoid the negative impact of stringent environmental regulations.     

中国绿色发展中企业环境责任立法探讨

经济活动过程和结果的绿色化主要靠企业承担环境责任来实现，但基于企业的营利本质，期望企业自觉承担环境责任并不现实，必须通过立法从内外部保障、强制其承担环境责任。我国环境保护法及企业法中无法容纳大量的企业环境责任条款，因此我国有必要制定专门的《企业环境责任法》，要求企业承担产品从设计、生产直至废弃的环境责任，并建立环境信息披露、税收优惠等企业承担环境责任的激励约束措施。同时我国应修改环境保护法，提高企业污染环境的成本、将企业环境成本内部化。     

A NOTE ON PRICING OF PRODUCT QUALITY FOR STATUS CONCERNS

The paper analyses the optimal pricing of the product quality scheme when concerns for relative standing exist among consumers. We demonstrate that if the proportion of high‐value consumers is over (respectively, under) 1/2 of the total consumers, a firm has an incentive to select a large (respectively, small) quality gap among products. Therefore, there exists a cut‐off level for status concerns, which eliminates quality differences, and the firm assigns the same quality to all the consumers. These results indicate that consumers’ qualities will reflect distortions at the top and bottom. Accordingly, the firm's profit depends on which consumer category is larger.     

Competition,firm size and returns to skills: Evidence from currency shocks and market liberalisations

We investigate the impact of product market competition on returns to skills in Italy using a longitudinal dataset on individual working histories. This impact is identified using three exogenous shocks affecting competition: the unforeseen devaluation of the Lira in 1992, its return to a fixed exchange regime in 1996 and the market liberalisation in the utility and transport sectors in the late 1990s–early 2000s. We analyse how firm heterogeneity and shocks of different types and signs affect the impact of competition on skill premia. We find that opposite shocks have opposite effects: an increase (resp. decrease) in international competition increases (resp. decreases) skill premia. Moreover, international shocks have greater effects on medium sized firms, while domestic liberalisation shocks have greater effects on large incumbents.     

财政压力、技术创新与绿色全要素生产率

经济社会转型期典型的中国式"压力型"财政，对地方创新活动和绿色可持续发展具有重要影响。运用2004~2017年中国256个地级市面板数据，实证考察了财政压力对绿色全要素生产率的影响以及传导机制。基准检验结果显示，财政压力显著抑制了绿色全要素生产率的提升，技术创新对绿色全要素生产率具有显著的促进作用；中介效应检验发现，财政压力通过抑制技术创新进而阻碍绿色全要素生产率的提升，即验证了财政压力→技术创新→绿色全要素生产率的传导机制；进一步门槛效应检验表明，技术创新对绿色全要素生产率的影响存在基于财政压力的双门槛效应，在财政压力的不同门槛值区间，技术创新对绿色全要素生产率的促进效应呈现出明显的阶梯性降低趋势。未来需综合完善中国式"压力型"财政激励制度，合理控制财政压力的区间范围，助力技术创新以提升城市绿色全要素生产率。     

服装外贸跟单的人才构建与实践

本文阐述了服装外贸跟单员工作岗位的形成,重点介绍服装外贸企业的跟单工作过程,通过将服装外贸跟单员的起源与工作过程相结合,最终对服装外贸跟单的人才培养提出几点建议。     

IPD军工科研企业研发体系建设研究

在激烈的市场竞争下，军工科研企业面临如何有效地降低研发成本、提高研发效率、提升研发质量，从而实现规模化、产业化发展等问题。集成产品研发（Integrated Product Development, IPD）由IBM首先成功实践，可以帮助企业快速、低成本、准确地开发出满足市场的产品，快速从以项目为核心、解决产品有无问题的阶段，向以平台和共享为核心的产业化发展阶段跨越。从军工企业科研面临的问题，研究了IPD军工科研企业如何借鉴IPD思想，本地化建立符合军工业务特点的研发体系，提出了基于IPD的研发体系建设目标、建设内容和实施步骤。