最低工资对企业长、短期杠杆率的异质性影响

本文基于2007-2012年工业企业和全国县区级最低工资的匹配数据,探讨最低工资对企业杠杆率的影响,研究发现最低工资上升会对企业的长、短期杠杆率产生截然相反的影响。具体而言,最低工资标准每上升10%,企业长期杠杆率将上升0.42个百分点,而短期杠杆率将下降0.29个百分点。针对最低工资对企业长、短期杠杆率的异质性影响,本文给出了两种机制进行解释———“要素替代”和“盈利预期”效应。就作用渠道而言,“要素替代”效应下,最低工资上升意味着资本相对劳动更为便宜,这会促使企业更多地以资本替代劳动,表现为债务的增加,且主要反映在长期债务上。“盈利预期”效应下,企业生产成本上升会恶化企业盈利预期,使得企业减少投资,同时整体性地收缩债务,这主要对应于短期债务调整。进一步,将企业按照高/ 低劳动密集度以及高/ 低市场竞争度进行划分时,异质性分析结果表明,“要素替代”所导致的长期杠杆率上升只在高劳动密集度企业才成立,而“盈利预期”效应导致的短期杠杆率下降只在高市场竞争度企业才成立。     

小麦高产栽培途径生理基础研究——光合生产与产物运输

在肥力水平较高条件下,对不同行距和基本苗小麦光合生产与产物运输能力的比较生理学研究和诸项生理指标的生物统计学分析表明,宽行稀播小麦后期群体内光照改善,个体和群体生产力得以协调发展,光合生产能力增加,产物运输速率提高是小麦“高肥宽行稀播”高产栽培途径的重要生理学基础。     

韩国吸引中国游客的战略和方案

中国经济的持续增长,使新兴富豪和高收入阶层的人数不断扩大,从而成为对韩国极具吸引力的市场。本研究将就中国市场的潜在旅游需求进行评价,对中国游客对韩国的印象进行调查,并提出韩国吸引中国游客的战略和具体方案。     

Smash积R#G~*的Von Neumann正则性与R的最大Gr-正则分次理想

首先证明了任一群G-分次环R存在最大Gr-正则分次理想M（R）G（Gr-正则根）;Gr正则根是遗传报,其次通过R与G的Smash积R#G*的矩阵表示,证明了R是Gr-正则环当且仅当R#G*是VonNeumann正则环。     

城市低保制度与贫困者的“福利依赖”

本文回顾了福利依赖的研究背景,在此基础上对“福利依赖”的概念进行了澄清,指出福利依赖是“状态”、“行为”、“意向”三位一体的整体,不能片面地理解。进而文章分析了福利依赖产生的两个主要条件：福利替代率与制度惰性。因此可以从以下措施预防和防止福利依赖：预防过高“福利替代率”产生的福利依赖效应;试点针对城市贫困群体的“资产建设”;适当借鉴农村反贫困中的扶贫经验。     

商业银行开展市场营销势在必行

商业银行市场竞争意识有所增强,但对市场环境和市场定位还缺乏科学的认识和分析,银行对营销理论运用也不系统、不全面。我们应当学习和借鉴西方银行业在营销活动中的经验,积极推进我国营销工作,建立一支素质高、业务熟、公关能力强、特别能战斗的营销队伍,以保证金融营销顺利开展。     

The Role of Knowledge in Resource Allocation to Exploration versus Exploitation in Technologically Oriented Organizations*

Decisions regarding research and development (R&D) activities of an organization greatly affect the fiscal and market outcomes of technologically oriented firms. Yet, the resource allocation choices between these two activities are tied strongly to an organization's technology knowledge. Technological knowledge is itself a resource that the firm can manage to achieve strategic and competitive advantage. In this paper, the authors present a system dynamics view of the decomposition of R&D efforts into explorative and exploitive activities and the resultant knowledge‐specific and performance outcomes from the decision to focus on one type of activity or another. Four factors are shown to affect the relative value of innovative knowledge to the organization: resource availability, exogenous competition, aging of knowledge bases, and adaptive capacity, a firm's ability to adapt to its environment. A variety of long‐ and short‐term strategic issues are discussed in relation to these forces.     

The Effect of Team Leader Characteristics on Learning,Knowledge Application,and Performance of Cross‐Functional New Product Development Teams

This study examines how leadership characteristics in new product development teams affect the learning, knowledge application, and subsequently the performance of these teams. Using data from a study of 229 members from 52 high‐tech new product projects, we empirically demonstrate that team learning has a strong positive effect on the innovativeness and speed to market of the new products. Moreover, a democratic leadership style, initiation of goal structure by the team leader, and his or her position within the organization were positively related to team learning. Managerial implications of these results are discussed.     

Producer's and Consumer's Risk When Proportion Defective Is a Random Variable

In acceptance sampling, producer's and consumer's risk are traditionally based on assumed fixed values of p, the proportion of the lot which is defective. A more useful definition of producer's risk would be the probability of rejecting a lot in which the proportion defective falls within some range of acceptable values. Similarly, a more useful definition of consumer's risk would be the probability of accepting a lot in which the proportion defective falls within some range of unacceptable values. In this paper, we construct measures of these more useful definitions of risk by assuming that p follows either a uniform or triangular probability distribution. The proposed measure yields consumer's risk values, β', which are smaller than the traditionally computed values by a factor of up to twenty times. The proposed measure of producer's risk, α', gives values smaller than traditional values by a factor of two to four times. Decision makers who adopt the proposed measures may be able to reduce sample sizes substantially while maintaining given risk levels.     

Measuring Modularity‐Based Manufacturing Practices and Their Impact on Mass Customization Capability: A Customer‐Driven Perspective

As uncertainty in markets and technology intensifies, more companies are adopting modular product and process architectures to cope with increasing demands for individually customized products. Modularity‐based manufacturing is the application of unit standardization or substitution principles to create modular components and processes that can be configured into a wide range of end products to meet specific customer needs. This study defines modularity‐based manufacturing practices (MBMP), develops a valid and reliable instrument to measure MBMP, builds a framework that relates customer closeness, MBMP, and mass customization capability, and tests structural relationships within this framework using LISREL. Based on 303 responses from members of the Society of Manufacturing Engineers, statistically significant and positive relationships were found among customer closeness, modularity‐based manufacturing practices, and mass customization capability. Managerial implications of the empirical findings of this study and future research directions are also discussed.