Cross‐Border Auction Cycle Effects of Sovereign Bond Issuance in the Euro Area

We provide evidence for the euro area of spillovers from foreign public debt auctions into domestic secondary‐market auction cycles. We also confirm existing evidence of such spillovers from domestic issues into the domestic secondary market. Consistent with a theory of primary dealers’ limited risk‐bearing capacity, we find that auction cycles from domestic issues are stronger during the recent crisis period, whereas cross‐border effects are stronger in the precrisis period, but this evidence is not strong. This finding likely reflects the opposing effects of reduced sovereign bond market integration during the crisis and higher yield covariances caused by more market volatility.     

中蒙俄经济走廊建设中内蒙古与蒙、俄产能一体化分析——以钢铁、水泥为例

在“一带一路”倡议背景下,内蒙古凭借地缘优势、人文优势正在积极参与中蒙俄经济走廊的建设,并发挥着重要作用。内蒙古通过对蒙、俄输出钢铁和水泥,对促进内蒙古的经济增长起到了一定的积极作用。本文利用TVP－VAＲ模型实证检验证实,内蒙古对蒙、俄在钢铁、水泥的产能输出,短期内对第二产业的增长影响较为显著,但中期影响减弱,长期影响不明显。因此,内蒙古应抓住机会,通过产能一体化进一步化解钢铁、水泥过剩产能,从而实现产业结构升级和创新发展。     

Unpacking systemic innovation capacity as strategic ambidexterity: How projects dynamically configure capabilities for agricultural innovation

Problems in agriculture and land use are increasingly recognised as complex, uncertain, operating at multiple levels (field to global value chains) and involving social, economic, institutional, and technological change. This has implications for how projects navigate complexity to achieve impact. However, few studies have systematically evaluated how project actors engage with other actors to configure capabilities and resources across multiple levels in agricultural innovation systems (AIS), from the individual to the network, to mobilise and build systemic innovation capacity. An analytical framework conceptualising the nested configuration of capabilities at multiple levels in the AIS is applied to two projects that successfully tackled agricultural and land management problems of differing complexity: (i) improving lamb survival; and (ii) sustainable land management in New Zealand. Findings indicate that innovation capacity constitutes project actors interacting with other AIS actors to configure capabilities and resources at different levels of the AIS in order to leverage positive project path dependencies and break path dependencies that are created by existing and historical capability configurations. Project actors also balance exploiting existing innovation capabilities, as well as using adaptive capability for exploring and creating new capability configurations to respond to emerging circumstances. This implies that projects should have strategic ambidexterity in terms of how they combine exploiting existing and exploring new networks to access, combine, create, or disconnect certain capabilities to address ‘capability voids’ in AIS. This requires support to projects to constantly scrutinise, through reflexive monitoring by dedicated facilitators, specific agriculture and land use policies connected to major sustainable development models (e.g. climate smart agriculture, urban farming, smart farming). The can help assess whether the AIS provides the right mix of capabilities and whether this is adequately supported by innovation policy, to realize transformative policy objectives.     

企业如何利用社会网络提升吸收能力

在知识经济的背景下,吸收能力被认为是企业提升绩效和增强创新的战略能力.社会网络被认为可以对潜在的吸收能力和实现的吸收能力都产生积极影响.本文从社会网络的关系层面,从外部和内部两个视角,分别阐述了社会网络如何影响吸收能力的两个维度.本文还从提升吸能力的视角,提出了有效构建和维护社会网络的措施.     

双树寺电站电气化县改造项目设计优化及调试运行对策

为消除双树寺电站水工建筑病险隐患,解决机电设备老化、发展进入瓶颈的问题,通过相关参数的优化,减少弃水,增大流量;在装机容量新确定为1600k W时,选择混流式机组;并对压力管道设计、水轮机选型设计、水轮机吸出高度确定、安装高程设计等进行总体优化;调试运行过程中,针对导水叶密封不严、轴瓦温度过高、水轮机出力不足、发电机振荡和失步问题,研究补救措施和解决技术方案。技改后,原有的病险隐患消除,效益显著,电站实现了农村水电安全生产标准化建设目标,有效保护了生态环境,推进了绿色小水电建设发展进程。     

Synergizing independent and cooperative R&D activities: the effects of organisational slack and absorptive capacity

Firms undertaking independent and cooperative research and development (R&D) activities simultaneously often have difficulties to realise their synergistic effects. This study contends that such difficulties are caused by tensions between two types of R&D activities in terms of resource competition and knowledge leakage. Moreover, organisational slack and absorptive capacity may affect these tensions and thereby play important role in synergizing independent and cooperative R&D activities. Based on a survey data of 286 firms, this study finds that such two types of R&D activities jointly have a negative impact on firm performance. Furthermore, organisational slack aids in synergizing them, while absorptive capacity has an adverse impact. These findings enrich our knowledge on the interrelation of independent and cooperative R&D activities and shed light on how firms can synergize them.     

How collaborative routines improve dynamic innovation capability and performance in tourism industry? A path-dependent learning model

Current results of direct relationships between collaboration and innovation capability on performance in tourism contexts are inconsistent. This research is to uncover roles of collaborative routines on promoting relationships between internal and service innovation capabilities as two distinct mechanisms, and performance. The study also examines the contingent effect of knowledge search on performance. Survey data from 181 samples from the Thai tourism industry are gathered for analyses. Findings demonstrate that knowledge search and internal innovation capability have a direct impact on performance, whereas the effect of service innovation capability on performance is significant only in the presence of collaborative routines.     

Excess capacity,production technology and technical inefficiency in hospitality sector

This article examines the effects of excess capacity on the production cost and technical inefficiency of hotels and restaurants in Norway. The dataset includes a daily unbalanced panel of 94 hotels and restaurants from 2003 to 2014. To accommodate inefficiency, we use an input distance function (IDF). Inefficiency in the IDF means that if inputs are overused by k% then production cost is also increased by k%. We also allow inefficiency to differ across locations and regions by using them as determinants. The results indicate that excess capacity considerably affects the cost and increases inefficiency. The marginal effect on cost increases with excess capacity, but the effect on inefficiency sets in when it exceeds 50 percent. Furthermore, we find less overuse of inputs by firms in small metro towns and the Northern region causing them to be more efficient [except for the Southern and Western regions] than their counterparts.     

A SWOT analysis of China's air cargo sector in the context of COVID-19 pandemic

This paper discusses the situation of China's air cargo sector facing the COVID-19 pandemic. Based on the expectation that it can go out of recession more easily than China's air passenger sector, this paper analyzes four aspects that are favorable and unfavorable for its further development: (1) strengths (China's sustainable economic basis and proliferating cargo suppliers), (2) weaknesses (insufficient cargo capacity and less business internationalization), (3) opportunities (top authority support, rising e-commerce demand, and new technological momentum), and (4) challenges (uncertain trade environment and increasing profitability pressure). Then this paper suggests strategies for China's air cargo suppliers to adapt to the pandemic.     

通识知识学习对学生就业能力培养的意义分析

日益激烈的人才竞争对学生的就业能力提出了新的、更高层次的要求,通识知识的学习是培养学生的人文素质和综合职业素质的重要途径和方法,本文通过对通识知识学习的深入分析,探讨了通识学习对于提高学生就业能力的影响和意义。