China's exports reduce wages in importing countries, but few studies have looked at competition in third-party markets. We examine labour market outcomes in Mexico's apparel and textile sectors associated with US apparel and textile imports from China. Using data on US imports in conjunction with quarterly Mexican labour force surveys, we show that US imports from China are associated with a reduction of employment in Mexico's apparel and textile sectors. These effects are the most pronounced for the least educated. Wages were not impacted on net except for possibly the poorest which would indicate stronger local labour market ties in the left tail of the wage distribution. Finally, the effects of trade-induced demand shocks dissipate after about two quarters indicating low firm-level adjustment costs. 相似文献
We investigate whether or not there is a link between conservative accounting practices and the sensitivity of executive pay to accounting performance. Using several accrual‐based measures of accounting conservatism as well as alternative measures of accounting performance, we estimate an econometric model of CEO compensation that incorporates the interaction of accounting conservatism and accounting performance. Consistent with optimal contracting theory, we find that the sensitivity of executive pay to accounting performance is higher for firms that report conservative accounting earnings. These results support the hypothesis that accounting conservatism, by limiting earnings management opportunities and improving the reliability of accounting performance measures, allows firms to formulate contracts that tie executive compensation more closely to accounting performance. 相似文献
This article conducts an in-depth investigation into building a Structural Vector Autoregression (SVAR) model and analysing the Malaysian monetary policy. Considerable attention is paid to: (i) the selection of foreign, policy and target variables; (ii) establish identifying restrictions and improve the estimates of impulse response functions; (iii) assess the importance of intermediate channels in transmitting monetary policy mechanism; and (iv) the way in which the 1997 Asian financial crisis affected the working of monetary policy. Malaysia is an interesting small open economy to study because, following this crisis, the government imposed capital and exchange rate control measures. The overall results suggest that the crisis and the subsequent major shift in the exchange rate regime have significantly affected the Malaysian ‘Black Box’. In the pre-crisis period, domestic variables appear to be more vulnerable to foreign monetary shocks. Further, the exchange rate played a significant role in transmitting the interest rate shocks, whereas credit and asset prices helped to propagate the money shock. In the post-crisis period however, asset prices play a more domineering role in intensifying the effects of both interest rate and money shocks on output, and the economy was insulated from foreign shocks. 相似文献
To determine the impact of soil compaction, experiments were carried out on corn in 1976 (above-average rainfall year) and in 1977 (below-average rainfall year) with various sizes of tractors and levels of intensities (number of passes). Contrary to the common belief, larger tractors were found to cause less economic loss. These losses ranged from $400/ha for 30 kW tractors to $63/ha for 180 kW tractors in 1976. The losses (or gains in 1977) are added to the fixed, operating, and timeliness costs of machinery, which is obtained by the engineering method of finding the least-cost machinery complement. The optimum machinery sizes are then calculated and discussed for corn silage and grain corn crops, based on the typical six passes/operations under two weather conditions. Afin de déterminer les implications de la compaction du sol, des expériences ont été réalisées sur le maïs en 1976 (année avec des précipitations au-dessus de la moyenne) et en 1977 (année avec des précipitations en dessous de la moyenne). Pour réaliser ces expériences, des tracteurs de différentes grosseurs ont été utilisés à différents niveaux d'intensité (nombre de passages). Contrairement à la croyance populaire, les plus gros tracteurs ont été ceux qui ont le moins affecté le rendement des plantes. En 1976, les pertes de rendement ont varié entre $ 400/ha a avec un tracteur de 30 kW et $63/ha avec un tracteur de 180 kW. Ces pertes (ou gains comme ce fut le cas en 1977) ont été additionnées aux coûts fixes, variables ainsi qu'aux coûts dus aux retards d'exécution associés à la machinerie agricole. Finalement, les grosseurs optimales de tracteurs sont calculées et discutées pour le maïs-fourrager et le maïs-grain en se basant sur une intensité d'utilisation de six passages/opérations pour deux conditions météorologiques différentes. 相似文献
In this paper we consider a two-level supply chain with a single retailer and a manufacturer, where both the firms are facing financial constraints and can not produce/order their optimal quantity. Our work shows that a lender who finances the manufacturer has a motivation to finance the retailer as well. Motivated by this, we investigate lender's problem of financing both the firms by making a joint decision on the loan amount and comparing it with the case when lender makes independent decision on loan amount for both the firms. Our numerical study indicates that if one of the firms in the supply chain has sufficiently low cash, joint decision (we refer to it as supply chain financing) may be better not only for the lender but for the retailer and manufacturer as well. 相似文献
Lot-sizing models which group demand requirements for one or more consecutive time periods into a single production run have received considerable attention in recent years. Material Requirements Planning (MRP) systems must, for instance, make a lot-size decision for each planned order release. Existing decision models attempt to minimize the sum of setup plus inventory holding costs. However, lot-sizing tends to increase the work center load variability, and, consequently, the costs associated with changing production levels from period to period should be incorporated into the economic analysis. This study is concerned, first of all, with analytically describing the relationship between dynamic lot-sizing models and workload variability. Secondly, in order to account for production level change costs we propose a simple modification to existing heuristic models. Lastly, we employ a simulation model to empirically extend these results to a typical MRP multiechelon production environment. An example is included to show clearly that with cost premiums for overtime and severance or guaranteed minimum costs for undertime the traditional lot-sizing techniques significantly underestimate actual costs and can lead to very costly policies.Mean, variance and coefficient of variation of period work time requirements are derived as a function of several algorithm characteristics. Average cycle time (number of periods covered by a single batch) is found to be the most influential factor in determining workload variability. Variance grows approximately in proportion to this cycle time with the proportionality constant being the square of average period workload. Cycle time and demand variability also contribute to workload variability. Results indicate that for a given average cycle time, the EOQ method will minimize workload variability. When N products utilize the same work center, the coefficient of load variation will be reduced by a factor of N? unless requirements are positively correlated. Positive correlation would result when products have similar seasons or parent items. In this case grouping such products cannot help reduce variability.In order to incorporate production level change costs into existing heuristics we may simply introduce a term consisting of a penalty factor times average cycle time. The penalty factor represents the costs of period by period production level changes. Several popular heuristics are extended in this fashion, and it is found that solutions are still readily obtainable, requiring only modifications to setup or holding cost parameters.The effects of level change costs are examined via simulation for a specific yet typical environment. It is found that when setup costs are significant, traditional lot-sizing heuristics can provide cost savings and service level improvements as compared to lot-for-lot production. However, whereas for our model the obtainable profit improvement from lot-sizing was 25% in the case of freely variable capacity, actual improvements were only one half as large when reasonable hiring and firing practices and overtime and undertime costs were considered. Consequently, management needs to consider carefully labor costs and work center product relationships when determining a production scheduling method. 相似文献
The Indian banking sector can take advantage of the proliferation of smartphones as well as the government’s encouragement of cashless transactions to accelerate the use of mobile and online banking. The purpose of this study is to understand the initial acceptance of mobile banking by existing online banking users. Few studies have focused on online banking users’ behavioural intention to use similar services (such as mobile banking) in India. To this end, a theoretical model was developed using the technology acceptance model, which was extended to cover the adoption factors that influence users of online banking to use mobile banking. These adoption factors comprise perceived ease of use, perceived security, mobile self-efficacy, social influence and customer support. The dependent variable is customers’ behavioural intention to use mobile banking. A partial least squares structural equation modelling analysis was used to test the theoretical model with sample data from 420 online banking customers of various public, private, foreign and co-operative banks in India. The study found that the adoption factors had a significant impact on customers’ behavioural intention to use mobile banking. The findings of this study provide insight into digital banking channels, contribute to existing research on digital banking adoption and will educate banks and financial institutions on the adoption of mobile banking in India.
This paper investigates whether compensation committees actively intervene to adjust accounting performance‐based incentive schemes for the real, or perceived, reduced earnings credibility signalled by the purchase of non‐audit services. Using a nonlinear, two‐stage least‐squares method that accounts for the simultaneity of executive pay, firm performance and non‐audit fees, we find a significant negative relationship between non‐audit fees and the sensitivity of chief executive officer (CEO) pay to firm performance. Point estimates suggest that the reduced weight applied to accounting performance lowers the incentive component of executive pay between roughly 5 and 8 per cent for the CEO of the ‘average firm’. 相似文献