Reverse imports, foreign direct investment and exchange rates

This paper investigates linkages among “reverse imports”, foreign direct investment and exchange rates. As an example, we have in mind the competition in the Japanese market of a Japanese multinational firm and a Chinese domestic firm. Products are differentiated based on Japanese consumers’ brand name recognition. The model shows that yen appreciation leads to an increase in Japanese production in China and “reverse imports” and a decrease in Japanese domestic production. Due to the barriers in brand name, the exports of the Chinese firm could fall, because the increase of reverse imports may erode the market share of the Chinese firm, even though total exports from China increase. Further, we find that yen appreciation may improve the profits of the Japanese firm and welfare in Japan under reverse imports, against conventional wisdom. The predictions of the model fit well with the actual numbers and shed light on the current debate on the Chinese currency.     

主房反向抵押贷款支持老年人收入拓展

在当前全球人口老龄化趋势下,如何解决由此产生的老龄人口退休收入短缺及财政困境成为各国学者及政策制定者关注的热点。住房反向抵押贷款作为拓展老年人退休收入的一种金融创新手段,在欧美市场已经发展成为一种成熟的金融工具。随着9月国务院提出“开展老年人住房反向抵押养老保险试点”,“反向抵押贷款”模式的“以房养老”再次进入公众视野,成为当前公共政策研究热点,并引发了民众关于“政府在养老体系中责任”的大辩论。本文以此为契机,通过已有的文献构建反向抵押贷款理论框架,讨论反向抵押贷款的优缺点、风险及影响反向抵押贷款市场的相关变量,系统还原这一金融工具的运行机制,消除公众对其的误解并结合这·理论框架探讨‘‘反向抵押贷款’雀本土化过程中存在的困境。本文认为,在中国,遗产赠予动机是老年住房自有者在当前住房市场下为实现整个家庭代际福利最大化做出的“理性选择”;‘饭．向抵押贷款”中贷款金融机构面临的风险高于借款人,老年人实现住房资产的流动性是以牺牲贷款金融机构现金流动性为代价的。因此,未来需要探讨的是,政府在推进的过程中如何降低各方风险,减少未知不确定J}生风险的问题。     

旅游目的地品牌研究

旅游目的地营销经历了旅游地形象、旅游宣传口号之后,迎来了旅游目的地品牌竞争时代,构建旅游目的地品牌已经成为一种必然趋势。通过在前人研究基础上对旅游目的地品牌做进一步研究,探究了旅游目的地品牌内涵及自身发展规律,对旅游地品牌有进一步的认识,更好的促进旅游地可持续发展。     

对我国生态环境保护的初步探讨

中国是世界上最大的发展中国家,由于现代工农业生产而造成了严重的环境污染,尤其是大量使用农用化学品所导致的生态失调与环境破坏,已严重威胁到人类生存环境及生活健康。今后社会发展必须大力提倡与推广无公害、无污染的清洁生产,全面实现生产的零污染与废物的零排放、保护环境与追求生态和谐的发展目标。     

企业竞争优势根源的理论演进

企业的竞争优势已成为战略管理领域的一个重要研究方向。半个世纪以来,探讨持续竞争优势的文献层出不穷。在众多战略管理文献中,对于企业如何获得竞争优势这一问题,学者们主要基于企业内部和外部两种视角进行研究,试图找到企业获取竞争优势的根源。本文拟对探讨企业竞争优势根源的各种理论观点进行较为系统的梳理,通过分析总结,指出这些理论观点所存在的局限性。最后,在已有研究的基础上,本文认为能力生命周期概念为获取企业竞争优势的根源提供了一个新的思路,并提出了企业竞争优势来源研究模型,以指导企业赢得竞争优势。     

逆向物流的功能分析

随着社会对环境资源的日益关注,人们越来越重视对废旧产品和原材料的再利用。本文从逆向物流的内涵入手,对逆向物流的功能进行了较为详细的分析。认为我国逆向物流的开发利用存在着巨大的空间。     

浅析公司法人格否认的反向适用

公司法人格否认的反向适用主要是指公司的法人格被否认后责任流向方面与公司法人格否认的传统适用相比正好相对,即由公司替股东承担责任。它可以有效地对公司法人格否认制度的传统适用所无法矫正的公司异化形式进行规制。我国可以借鉴国外相关的司法实践经验,将其引入我国的公司法法律体系。公司法人格否认的反向适用需要极其审慎,应综合考量相互冲突利益间的平衡。     

Airline flight networks, cycle times, and profitability: 2004–2006

This research investigates the relationships between airline flight networks, aircraft cycle times, and carrier profitability for ten large US domestic airlines. We find that direct point-to-point flight networks and short cycle times are operational factors that airlines should exploit to improve profitability. These findings are based on the analysis of 11.9 million flight records from 2004 through 2006. The results contradict earlier research validating performance advantages of hub-and-spoke flight networks. Today, the advantages of passenger consolidation at hub airports are lost to lower aircraft utilization and productivity problems created by the extended cycle times at hubs. We also find that airline operating profit can be increased by improving the efficiency of the aircraft turnaround process and decreasing aircraft fleet complexity. This research also provides an estimate of the marginal opportunity cost of ground time. A 1-min reduction in aircraft fleet ground time increases the average sized carriers’ operating income by $12 to $18 million.