Managing the transfer of capabilities within multinational corporations:: the dual role of the subsidiary

In this article, the relation is explored between the external technical embeddedness of the subsidiary, its assigned role, and capability development in the MNC. It is argued that assigning roles of responsibility or mandates to certain subsidiaries can effect integration of subsidiary-developed knowledge in the MNC. Departing from literature on the market-as-networks perspective and writings from recent years on subsidiary roles, hypotheses are developed and a model outlined. The model describes a significant link between the external technical embeddedness of the subsidiary and its assigned role within the MNC, and a significant relation between the subsidiary's assigned role and its importance for other units’ capability development. The model is tested on a sample of 97 subsidiaries using the LISREL 8.3 statistical method. The final model implies that by assigning specific roles to different subsidiaries, headquarters can exploit the knowledge developed in the external environments of these subsidiaries.     

新时期高校教师职业道德滑坡成因分析——以物流专业为例

近年来,高校教师职业道德滑坡现象明显,是什么导致了这种局面-文章指出:高校职业道德研究不深入,职业道德教育抓得不严,社会不良风气不断侵蚀,高校学生素质整体下滑,教师引进把关不严,考评机制不合理等是主要原因。     

城市房屋拆迁中的公共利益在程序法上的界定——兼评《城市房屋拆迁管理条例》第十六条

公共利益内涵在立法上的缺失,造成大量个人利益被侵犯的案例,在城市房屋拆迁中尤其突出。本文通过探讨如何从程序上赋予受公共利益影响者参与对公共利益内涵的确定以及在个人利益受到侵犯时给予司法救济的途径的问题,试图从法律程序上限制政府对公共利益的滥用,并最大程度地维护公民的个人利益,以此暂时回避对公共利益内涵问题的探讨。     

Why Money Growth Determines Inflation in the Long Run: Answering the Woodford Critique

Woodford argues that it is not appropriate to regard inflation in the steady state of New Keynesian models as determined by steady‐state money growth. Woodford instead argues that the intercept term in the monetary authority's interest rate policy rule determines steady‐state inflation. In this paper, I offer an alternative interpretation of steady‐state behavior, according to which it is appropriate to regard steady‐state inflation as determined by steady‐state money growth. The argument relies on traditional interpretations of the central bank's power in the long run and appeals to model properties that are common to textbook and New Keynesian analysis. According to this argument, the only way the central bank can control interest rates in the long run is via affecting inflation, and its only means available for determining inflation is by determining the money growth rate.     

Relative Guarantees

Many real-world financial contracts have some sort of minimum rate of return guarantee included. One class of these guarantees is so-called relative guarantees, i.e., guarantees where the minimum guaranteed rate of return is given as a function of the stochastic return on a reference portfolio. These guarantees are the topic of this paper. We analyse a wide range of different functional specifications for the minimum guaranteed rate of return, hereunder both so-called maturity and multi-period guarantees. Several closed form solutions are presented.     

A note on the existence of unique equivalent martingale measures in a Markovian setting

Simple sufficient conditions for the existence of a unique equivalent martingale measure are provided. Furthermore, these conditions give us a handle on situations where an equivalent martingale measure cannot exist. The existence of a unique equivalent martingale measure is of relevance to problems in mathematical finance. Two examples of models for which the question of existence was unresolved are studied. By means of our results existence of a unique equivalent measure up to an explosion time is proved.     

Working-time reduction and employment: experiences in Europe and economic policy recommendations

The paper seeks to evaluate the evidence on the employment effectsof the collective working-time reductions in Europe over thepast 20 years. While theoretical analyses produce contradictoryassessments, most empirical studies show positive employmenteffects but take insufficient account of these conditions underwhich the reductions in working time were implemented. Theseconditions for the success of collective working-time reductionsinclude an active training policy designed to minimise skillshortages in the labour market, the modernisation of work organisation,wage increases in conjunction with productivity gains and amore equal income distribution.     

农业院校促进乡镇经济发展的个案研究

在知识就是第一生产力的今天，乡镇经济的发展已不仅是地方政府、乡镇企业的责任，农业院校在履行其育人、科研功能的同时，更应该发挥其服务社会的功能，为乡镇、县域经济的发展起到巨大的带动、推进作用。文章以位于吉林市昌邑区左家镇的吉林农业科技学院为例，分析农业院校在自身发展壮大的同时对所在地方经济的促进作用，将有高等教育辐射的左家镇与没有高等教育辐射的土门岭镇在人均收入、农林牧渔各项产值等方面进行比较，用翔实、准确的数字表明：农业院校是促进乡镇经济快速发展的主力军。     

Bank Monitoring and Environmental Risk

Abstract:  Loan announcement effects for 152 Canadian companies are examined to investigate the efficiency of monitoring by banks facing lender environmental liability. Market reaction to the announcement of bank debt to 'environmental' firms is more positive and significant than for 'non-environmental' firms and, for firms in industries with a higher likelihood of experiencing spill events, is more positive and significant, reinforcing earlier results that establish a relationship between specific loan/borrower characteristics and announcement period excess returns and providing further evidence on the 'uniqueness' of bank loans by demonstrating the superior ability of banks to monitor corporate borrowers exposed to environmental liability.     

Violations of Service Fairness and Legal Ramifications: The Case of the Managed Care Industry

Adapted from Chan's (2000) model depicting success of litigation, this paper argues that with the application of various legislation, health maintenance organizations' (HMOs') violations of service fairness to each group: enrollees, physicians, and hospitals give rise to each group's lawsuits against the HMOs. Various authors (Bowen et al., 1999; Seiders and Berry, 1998) indicate that justice concepts such as distributive, procedural, and interactional justice can be applied to the area of service fairness. The violation of these underlying justice principles with HMOs' service unfairness to enrollees, physicians, and hospitals is examined. A general synopsis of the ethical issues in the managed care industry is provided. The various lawsuits launched by each group: enrollees, physicians, and hospitals together with the key statutes used are discussed. This paper also highlights the provisions and ramifications of the 11 April 2000 landmark agreement that Aetna made with Texas Attorney General John Cornyn to settle the 1998 lawsuit brought against the company. Lastly, the current ethical issues in the managed care industry are further discussed. The value of this paper can be adapted to the study of organizations' service fairness violations in other industries or in the educational, governmental, and not-for-profit sectors both nationally and internationally.