The Selection of Distribution Channels in China

This contribution first traces the development of the distribution system in China from state monopoly to one which permits the limited participation of foreign ventures, and examines the problems faced by foreign investors in managing the distribution channels under such a transitional economy. Due to China's abundance of linguistic, cultural and economic differences, combined with growing territorialism at the provincial level, different problems may be encountered in different citieslregions, and therefore foreign investors need to modify their distribution strategies accordingly. Detailed case studies are provided as illustrations.     

An integrated model for analyzing the development of the 4G telecommunications market in Taiwan

Previous studies of development trends in the telecommunications industry have estimated market potential but have seldom integrated analyses of customer preferences and macro-environmental factors (political, economic, social, and technological analyses). In order to more accurately analyze 4G technological trends and market penetration and provide implications for businesses and policymakers, we use conjoint analysis to analyze customers' preferences for telecommunications technology and integrate the results with data from scenario analysis and the Delphi method to address possible scenarios for the development of 2G, 3G, Worldwide Interoperability for Microwave Access (WiMAX), and long-term evolution (LTE) in Taiwan. We then use the innovation diffusion model to forecast the sales volume for these four technologies in Taiwan over the next 10 years. Finally, we provide suggestions for policymaking and strategic actions for 4G stakeholders.     

Technological innovation and knowledge network in Asia: Evidence from comparison of information and communication technologies among six countries

South Korea, Taiwan, Singapore, Hong Kong, China and India have become much larger force in the world economy. Due to the enormous contribution of the use of information and communication technologies (ICT) in economic growth, this study investigates four main issues related to technological innovation and knowledge network in ICT among six countries. First, indicators of technological innovation were evaluated and used to compare capability of technological innovation in ICT between the six countries. Secondly, differences in innovation configurations among six countries were manifested. Thirdly, relative innovation strengths of these six countries were examined in five sub-technological fields. Finally, this study consists of analyzing the interactions into knowledge network among them; moreover, this study manifests the difference of knowledge network in five sub-technological field of ICT. The empirical findings of this study, based on analysis of a patent and citation dataset comprised of all patents granted by the U.S. Patents and Trademark Office (USPTO) to assignees in six countries from 1976 to 2006, are helpful to understand the comparative development of technological innovation of ICT in six countries.     

Top Management Team Characteristics and Accrual-Based Earnings Management

This study examines how top management team (TMT) knowledge and average tenure affect accrual-based earnings management by investigating 4791 Taiwanese listed companies from 2006 to 2010. TMT members with more knowledge (higher education level, more accounting expertise, and greater prior top management experience) and longer average tenure have better performances and higher reputations, and are more aware of the litigation costs of earnings manipulations; therefore, they reduce managers' incentives to manage earnings (incentive-reduction effect). On the other hand, these TMT members are also likely to become entrenched and engage in more earnings manipulations (entrenchment-enhancing effect). The empirical results show that firms' TMT knowledge and average tenure are negatively associated with discretionary accruals, suggesting that the incentive-reduction effect is stronger than the entrenchment-enhancing effect, which makes TMT members less likely to engage in earnings management. Moreover, the above results are robust when employing different earnings management measures and suspect firm analyses, as well as considering endogeneity issues. Finally, the study suggests that the presence of a founding family may reduce the influences of TMT knowledge and average tenure on earnings management.     

Enterprise Bargaining and Productivity in Australia: What do We Know?

There appears to be widespread consensus, at least in industry and government, that enterprise bargaining has been beneficial for productivity. Many academics, however, have argued that the link between bargaining structure and workplace productivity is a contentious one, and that research has been unable to establish a relationship. The present paper re-examines the existing evidence. The review reinforces the need to exercise caution before asserting that enterprise bargaining is necessarily beneficial for workplace productivity. The main conclusion that emanates from this review, however, is not the absence of a clear-cut finding, but how poorly developed the relevant research literature is.     

The Relationship between Federal Deficits and Real Interest Rates

Real interest rates fluctuated a great deal since the 1970s. In the 1980s federal deficits accelerated and their impact on both nominal and real interest rates gained lots of attention. Based on monthly and quarterly data from January 1971 to December 1997 it is found that federal deficits had significant positive effect on the real interest rates: Personal income or consumption are found to have significant positive impact on the real interest rates, whereas expected inflation and money supply are found to have negative impact on the real interest rates. These findings are consistent with the conventional economic theory.