基于MNL选择模型的替代产品定价和库存决策研究

受现实中生产商和大型零售商不同契约关系的启发,本文以两个生产商和一个零售商组成的系统为对象,从顾客在两种替代性产品之间的选择行为出发,分别研究了零售商定价和生产商定价模式下的最优产品定价和库存决策。研究表明,在MNL选择模型下,零售商联合定价时应当选择使得产品单位利润相等的定价策略;生产商定价博弈中存在唯一的Nash均衡。数值实验分别考察了"生产商强势"和"零售商强势"两种情形下的最优决策和利润分配情况;实验结果能给相关企业的销售模式选择带来有益的管理启示。     

A Risk-sharing Approach to Transfer Pricing and Incentive Compensation Problems under Exchange Rate Uncertainty*

This study examines the transfer pricing and incentive compensation problems in a multinational enterprise facing currency risk. It is shown that, in the presence of diverse risk preferences among managers, the Hirshleifer (1956) transfer pricing rule results in inefficient resource allocation decisions by division managers. Following the approach developed by Kanodia (1979), two transfer pricing and compensation systems are proposed. The proposed systems enable central management to achieve efficient resource allocation and partial or global risk sharing. It is also argued that the proposed plans can be implemented in conjunction with existing transfer pricing systems that primarily serve tax and tariff concerns.     

Partitioned pricing: review of the literature and directions for further research

Partitioned pricing (PP) has received increased attention in both managerial practice and academic literature. The fragmented nature of existing research, terminological and conceptual inconsistencies, and ambiguous findings regarding performance implications of PP underscore the need for an organization of the PP literature. This article provides four major contributions to the literature. First, it develops a new definition of PP based on a critical evaluation of the current body of literature and an analysis of key characteristics of the concept. Second, this article discusses the primary theoretical perspectives used to explain PP, which provides insights into the theoretical foundation of the concept and impetus for future studies on PP. Third, this article presents a review of the state-of-the-art in research on PP and provides managers with guidelines about when and how to apply this pricing tactic. Finally, this article identifies overarching limitations of prior PP research and outlines avenues for further research.     

管理层股权激励与企业未来盈余定价——来自中国资本市场的证据

本文探讨管理层股权激励对企业未来盈余定价的影响,并进一步将企业未来盈余分解为行业成分和公司特质成分,考察股权激励对不同成分未来盈余定价的影响,以及不同模式股权激励对上述关系影响的差异。利用实施股权激励的中国A股上市公司2006-2016年间的数据,本文发现：（1）股权激励提高了当期股票收益率与企业未来盈余的相关性。说明管理层股权激励有助于投资者对企业未来盈余定价;（2）管理层股权激励并不影响投资者对行业成分未来盈余定价,但会加速投资者对公司特质未来盈余定价;（3）管理层的股票型激励有助于投资者对企业未来盈余定价,同时也能加速投资者对公司特质未来盈余定价,但股票期权激励并无上述作用。研究结果意味着,整体而言股权激励能够缓解管理层与股东之间信息披露的代理问题,激励管理层向外部投资者披露更多高质量的公司基本面信息,从而降低投资者对公司特质未来盈余信息的搜寻成本,最终通过加速公司特质未来盈余信息融入股价来促进投资者对企业未来盈余定价。本文揭示了管理层股权激励促进投资者对企业未来盈余定价的微观机制,同时,研究结论对提高中国证券市场的信息效率提供了重要的理论参考。     

Integrated retail decisions with multiple selling periods and customer segments: Optimization and insights

Integrating retail decisions on such aspects as assortment, pricing, and inventory greatly improves profitability. We examine a multi-period selling horizon where a retailer jointly optimizes assortment planning, pricing, and inventory decisions for a product line of substitutable products, in a market with multiple customer segments. Focusing on fast-moving retail products, the problem is modeled as a mixed-integer nonlinear program where demand is driven by exogenous consumer reservation prices and endogenous assortment and pricing decisions. A mixed-integer linear reformulation is developed, which enables an exact solution to large problem instances (with up to a hundred products) in manageable times. Empirical evidence is provided in support of a classical deterministic maximum-surplus consumer choice model. Computational results and managerial insights are discussed. We find that the optimal assortment and pricing decisions do not exhibit a simple, intuitive structure that could be analytically characterized, which reflects the usefulness of optimization approaches to numerically identify attractive trade-offs for the decision-maker. We also observe that suboptimal inventory policies significantly decrease profitability, which highlights the importance of integrated decision-making. Finally, we find that the seasonality of consumer preferences and supply costs present an opportunity for boosting the profit via higher inventory levels and wider assortments.     

The Bounded Rationality Bias in Managerial Valuation of Real Options: Theory and Evidence from IT Projects*

Although real options theory normatively suggests that managers should associate real options with project value, little field research has been conducted to test whether they suffer from systematic biases in doing so. We draw on the notion of bounded rationality in managerial decision making to explore this understudied phenomenon. Using data collected from managers in 88 firms, we show that managers exhibit what we label the bounded rationality bias in their assessments: They associate real options with value only when a project's easily quantifiable benefits are low, but fail to do so when they are high. The study also contributes the first set of empirical measures for all six types of real options. The study contributes to managerial practice by identifying the conditions under which managers must be vigilant about inadvertently neglecting real options and by providing a simple approach for assessing real options in technology development projects.     

Managerial Self-efficacy and Managerial Performance

Some of the main features of Bandura's self-efficacy concept are presented. The importance of the concept to the work organization and to individual performance is discussed. A field study is described. The first part of the study involved the development of parallel versions of a scale to assess managerial self-efficacy. Data concerning the psychometric properties of the parallel version of the scale show that they are reliable and independent of social desirability. The second part of the study provided evidence of the relationships between scores on the managerial self-efficacy scale and supervisors’ ratings of managers’ performance. The results indicate that managerial self-efficacy correlates with work performance ratings.     

French and British Top Managers' Understanding of the Structure and the Dynamics of Their Industries: a Cognitive Analysis and Comparison

This paper presents the findings of an exploratory study of the content of and differences between managerial frames of references with regard to the structure and dynamics of competitive environments. These frames of references are examined and compared at both the industry level and the country level; and the paper shows the influences of both industry and institutional structures and national culture on managerial thinking. It therefore contributes to the field of comparative management, as well as the growing interest in cognitive analysis in the field of management. The study is particularly significant since (a) its context is the rapidly changing industry environment of Europe, and (b) the managers are all involved in the development of strategies for their firms. Thirty three top managers (16 English and 17 French) were interviewed in four industries (brewing, car manufacturing, retail banking and book publishing) on their understanding of their industry and the strategy of their company. Content analysis of the transcribed interviews surfaces cognitive constructs which facilitate the identification of similarities and differences between managers, (a) within industries, (b) across industries, (c) within countries, (d) between countries and (e) between countries within the different industries. The analysis also provides means whereby the constructs can be represented in the form of cognitive maps.     

The role of personal values in the charismatic leadership of corporate managers: A model and preliminary field study

This study used multi-source field data collected in five organizations to examine linkages among managers' personal value system (i.e., intensity of openness to change, traditional, collectivistic work, self-transcendent, and self-enhancement values), charismatic leadership of managers, and three outcome measures. Two-hundred and eighteen managers provided self-reports of their personal values and ratings of their followers' extra effort and organizational citizenship behavior (OCB). Nine-hundred and forty-five subordinates rated the focal managers' charismatic leadership. Superiors of the focal managers provided ratings of managerial performance 2 months after collecting the managers' and subordinates' ratings. Results indicated that traditional, collectivistic work, self-transcendent, and self-enhancement values related positively to charismatic leadership, which predicted managerial performance and followers' extra effort and OCB. Managerial performance moderated the relationships between leaders' values, charismatic leadership, and followers' outcomes.     

Refining the Concept of Political Will: A Gender Perspective

While politics are known to be prevalent at managerial levels, there is currently little insight into what drives managers to engage in organizational politics and whether there are gender differences in this respect. In the current study we explore the concept of political will by using a qualitative approach based on 14 semi‐structured interviews with managers (five men and nine women) in a global semiconductor company. We identify key dimensions of managerial political will consisting of three attitudinal ambivalences: functional, ethical and emotional. We also examine gender differences along these dimensions and discuss managers' political will in the context of a masculine organizational setting. We conclude by discussing the theoretical and practical implications of the findings and further research directions.     

Key Issues in the Senior Female International Career Move: A Qualitative Study in a European Context

Research investigating the position of women in management has, largely, been confined within national boundaries. Over the last 15 years, empirical studies of women in international management have been undertaken, predominantly in North America. Overall, however, in this research field, many questions remain unanswered or have been only partially addressed. The particular focus of this study is on the senior female international managerial career move in Europe – a relatively unexplored area. Fifty senior female expatriate managers were interviewed, representing a wide range of industry and service sectors. The aims of the study were to develop an understanding of the senior female international career move in a European context in order to more fully understand both the covert and overt barriers that may limit women's international career opportunities. The results of the study show that the senior international career move has largely been developed along a linear male model of career progression, a development which, taken together with gender disparity both in organizations and family responsibilities, frequently prevents women employees from reaching senior managerial positions. The findings suggest that organizations which adopt a proactive approach to female expatriate managers should have a competitive advantage in the international environment.     

Relationships between Sales Management Control, Territory Design, Salesforce Performance and Sales Organization Effectiveness

This research evaluates determinants of sales organization effectiveness in a sample of British companies, and contributes to an important new research stream by following recent empirical studies in the USA and Australia. We discuss a model of sales organization effectiveness determined by salesforce outcome performance and behavioural performance, as well as by the use of a behaviour-based control approach. Sales territory design is also considered as a particularly important managerial variable, which has received little analytical attention in the traditional literature, but which appears to be an important influence on the effectiveness of the sales operation. Our exploratory path analytical model suggests that sales territory design has a large effect on sales organization effectiveness both directly, and indirectly through its relationship with salesforce behavioural performance. These findings are somewhat different to those in similar studies in other countries, and suggest some important implications for managers as well as for researchers in this field.     

网络销售中退货担保与定价决策

本文采用退货担保期权综合完全退货策略与部分退货策略的优点,构建了网络销售中基于期权的退货与定价模型,以商品的价格、退货策略和退货担保期权价格为决策变量,讨论了存在退货期权和不存在退货期权两种情况下,最优决策存在的条件,求解出销售商最优价格、退货策略和退货担保期权价格,分析了各个市场参数变化对最优值的影响,通过对担保退货期权与退货策略同时存在和购买期权才能退货二种策略的比较,发现供应商最优策略是前者。算例验证了以上结论,做了敏感性分析,总结了相关管理启示与未来研究方向。所得结论对网络销售商开展网上销售有重要参考价值。     

The evolution of university–industry linkages—A framework

This qualitative study extends literature on research commercialization by examining the dynamic nature of university–industry linkages (UIL). Thirty in-depth interviews conducted in Australia and Germany/the Netherlands provide evidence of the different phases through which UILs evolve and respective measures of success. Communication, understanding, trust, and people are universal drivers, yet managers must consider the variations in the nature of these factors to ensure successful UILs. This study equips managers involved in technology transfer, innovation, and commercialization with critical insights into developing effective relationships. The proposed conceptual framework also uncovers notable theoretical and managerial implications and offers some key research directions.     

Decision Making,Risk and Gender: Are Managers Different?

This paper explores differences in the nature of decisions taken by males and females. Women are playing an increasingly important role in business management and managers are ultimately tested and evaluated in terms of their success in making decisions. Consequently any difference in the character and quality of decisions taken by male and female managers will have important implications for organizations. This paper reviews the literature, and reports two pieces of empirical work which investigate the connections between gender and decision making. The decision-making characteristics of males and females in a ‘non-managerial’ population in which the majority of individuals have not undergone formal management education are contrasted with a ‘managerial’ population of potential and actual managers who have undertaken such education. It is argued that women are often excluded from managerial positions of authority and leadership due to stereotypes, which have been constructed by observing ‘non-managerial’ populations at large. The paper concludes, however, that these stereotypes may not apply to managers as in the ‘managerial’ sub-population males and females display similar risk propensity and make decisions of equal quality.     

Deducing a taxonomy of perceived managerial and leadership effectiveness: a comparative study of effective and ineffective managerial behaviour across three EU countries

This qualitative multiple case derived etic study focuses on perceived managerial and leadership effectiveness. It explores what employees in various organizations, organizational sectors and culturally diverse nations perceive as effective and ineffective managerial behaviour. Empirical findings from six emic replication studies carried out previously within three European Union countries were subjected to cross-case, cross-sector, and cross-nation comparative analysis. High degrees of sameness and similarity were found. Further analysis led to the emergence of a behavioural taxonomy comprised of 10 positive (effective) and 9 negative (ineffective) behavioural criteria. We find that managers and non-managerial staff in British and Romanian public-sector hospitals, and in British and German private-sector companies, perceive effective and ineffective managerial behaviour in much the same way. Our findings challenge past literature which argues that managers need to adopt different managerial behaviours to be effective in different organizational sectors and countries.     

经理声誉考虑、任务关联性和长期报酬激励的效果研究

为研究如何激励经理努力提高企业未来业绩,假设经理承担着两项任务:声誉激励其提高企业当前业绩,报酬激励其提高未来业绩;在多任务委托代理模型框架下,本文研究了声誉和长期报酬对经理提高未来业绩的激励效果.本文把企业业绩分为当期业绩和长期(即未来)业绩,并假设委托人目标是长期企业业绩最大化,而不是当期业绩最大化.同时本文对经理努力成本函数的假设有重大改进:给出了经理长期和短期努力的具体的成本函数形式,考虑了两种任务即努力间的关联性情况,假设长期努力和当期努力有不同的成本系数.目前相关模型的成本函数最多只能满足以上三个条件中的前两个.因此,运用本文多任务委托代理模型分析得出的结论更明确、直观,并且更符合实际.本文发现,经理不同努力的成本、两项任务之间的关联性对经理的努力行为选择有重要的影响,要激励经理提高企业长期业绩,应该减少经理长期努力的成本或者弱化当期激励.     

Beneath the mask:: Examining the relationship of self-presentation attributes and impression management to charismatic leadership

We tested several hypotheses derived from Gardner and Avolio's [Acad. Manage. Rev. 23 (1998) 32.] self-presentational theory of charismatic leadership. We collected multisource field data in an information technology (IT) consulting firm and examined linkages among managers' self-system attributes (i.e., desired charismatic identity, self-monitoring), pro-social and self-serving impression management of managers, charismatic leadership of managers, and two measures of performance. Eighty-three managers provided self-reports of self-system attributes. Six months later, 249 subordinates rated the focal managers' impression management and charismatic leadership styles. Superiors of the focal managers provided performance ratings 7 months after collecting the subordinate ratings. Results indicated that complexity of desired charismatic identity was positively related to self-monitoring. Self-monitoring was negatively related to ratings of pro-social impression management and positively related to ratings of self-serving impression management. Pro-social impression management related positively to charismatic leadership, which predicted managerial and unit performance.