动态市场竞争环境下电子商务企业盈利能力的影响因素研究

为找到电子商务企业高投入、低投资回报现象存在的原因,本文首先运用数据包络分析（DEA）模型计算了电子商务企业投入对产出的过度效应,即投入拥挤,然后将之与行业内的市场竞争程度和移动电子商务的发展相结合,通过构建面板数据回归模型,详细探讨了动态市场竞争环境下电子商务企业盈利能力的影响因素。研究结果证实了资产规模过大对传统电子商务企业盈利能力具有削弱作用,而市场集中度和移动电子商务的发展则对传统电子商务企业盈利能力具有推动作用。这些发现启示企业经营管理者应聚焦于移动电子商务发展带来的新机遇,消除投入拥挤,通过调适生产规模和新业务模式的创新,开辟新的营销渠道和盈利模式。     

客户利润贡献度评价的数据挖掘方法

讨论了客户关系管理中的客户利润贡献度评价这一关键问题. 为了提高客户利润贡献度评 估的可操作性,本研究在评价方法中引入数据挖掘技术,给出了这一方法的步骤和基于判定树的分 类模型. 最后结合实例对该方法的应用进行了说明.     

企业盈利能力、机构投资者与股票波动风险

现有文献中对股票波动风险的研究大都从市场因素方面入手进行分析,而本研究则从企业层面因素出发,利用我国沪深上市公司2008-2012年的面板数据,考察了企业的盈利能力对股票波动风险的影响,并在此基础上重点分析了机构投资者持股在其中所起的作用。实证分析表明,企业的盈利能力越好,其股票收益的风险越小,波动性越低,反映出盈利好的企业与市场上投资者间的信息不对称程度可能越低。同时,对于机构持股比例较高的上市公司,其盈利能力与股票波动风险之间的负相关关系更加显著。说明机构投资者的存在能够"帮助"向市场传递关于企业盈利方面的信息,有助于降低企业与市场上投资者间的信息不对称程度,进而起到降低投资风险的作用。     

Performance Impacts of Strategy,Information Technology Applications,and Business Process Outsourcing in U.S. Manufacturing Plants

This paper develops a conceptual model to study the role of outsourcing strategies and plant‐level information technology (IT) application infrastructure in the outsourcing of production and support business processes, as well as their subsequent impact on overall plant performance. We validate this model empirically using cross‐sectional survey data from U.S. manufacturing plants. We find that some IT applications are more effective at enabling the outsourcing of business processes than others. For example, the implementation of enterprise management systems is associated with the outsourcing of both production and support processes, whereas operations management systems are not associated with the outsourcing of plant processes. Plants with a low‐cost outsourcing strategy are more likely to outsource support processes than plants with a competency‐focused outsourcing strategy. However, both cost‐ and competency‐based strategies have a positive and similar impact on the outsourcing of production processes. In terms of implications for plant performance, our findings indicate that the outsourcing of production and support processes is associated with higher gross margins. Although plant IT infrastructure is positively associated with favorable on‐time delivery rates, there is no positive association between the incidence of plant outsourcing and on‐time delivery rates. These results have implications for crafting plant‐level outsourcing strategies and for investments in IT systems to facilitate the outsourcing of business processes for enhanced plant performance.     

Customers’ Capital Market Information Quality and Suppliers’ Performance

We empirically examine the association between downstream firms’, i.e., customers’ capital market information quality, and the operating performance of upstream firms, i.e., suppliers. Customers’ capital market information quality is measured by the customers’ provision of earnings forecasts, the customers’ reported earnings quality, and the customers’ coverage by financial analysts and credit rating agencies. We hypothesize and find a positive association between customers’ capital market information quality and suppliers’ operating performance measured by the DuPont profitability ratios. The association is stronger for suppliers with higher sales volatility, no order backlogs, customers who are less dependent on their input, and shorter business relation with customers. Collectively, the results suggest that the quality of information provided by the customers to the capital market has a spillover effect in the input market, i.e., helps the suppliers improve their performance.     

基于顾客渠道偏好的服务竞争模型

由传统零售渠道和在线直销渠道组成的双渠道供应链中,两种渠道带给顾客不同的购物服务体验,能更好地满足不同渠道偏好的顾客需要,但两种渠道之间又存在竞争关系。针对两种渠道带给顾客的服务体验的差异性,构建考虑顾客渠道偏好的双渠道供应链服务竞争模型,研究制造商的最优渠道选择策略以及在线渠道的增加给传统单渠道供应链和顾客带来的影响。研究结果表明,能否扩大市场需求是判断制造商是否选择双渠道策略的充分条件,但是增加在线渠道之后,供应链存在服务歧视现象,可能造成市场需求减少;在线渠道的增加始终损害零售商的利益,并且可能导致供应链整体收益减少和顾客整体效用水平下降,最终导致社会福利的损失。借助数值分析发现,如果存在大量未开拓的潜在市场需求,顾客对在线渠道偏好程度的提高将有助于提升供应链整体收益和顾客整体效用水平,反之亦然。     

中国商业银行盈利能力的实证分析

商业银行盈利能力的大小是衡量其效率高低的主要指标。近年来,理论界从商业银行的规模经济、成本效率来研究中国商业银行效率的文献较多,而对中国商业银行盈利能力的研究则较少。对中国14家商业银行1994-2003年期间的盈利能力进行财务指标对比分析,发现中国四大国有商业银行的ROE、ROA明显低于10家股份制商业银行;利用计量经济学方法对中国商业银行的盈利能力与市场结构、银行产权性质关系进行回归分析,结果发现中国商业银行的盈利能力与其存款市场份额、存款资产比之间存在负相关关系,与其银行产权性质存在正相关关系。因此,建立和完善中国商业银行法人治理结构是提高其盈利能力的关键。     

共同富裕:社会主义的最终目标

邓小平根据马克思主义基本原理 ,总结国内外社会主义实践的经验教训 ,明确提出社会主义的最终目标就是达到共同富裕。深刻理解共同富裕的内涵 ,对正确处理当前改革开放过程中出现的各种新问题有重大意义     

Power Structure and Profitability in Assembly Supply Chains

This paper studies the impact of supply chain power structure on firms' profitability in an assembly system with one assembler and two suppliers. Two power regimes are investigated—in a Single Power Regime, a more powerful firm acts as the Stackelberg leader to decide the wholesale price but not the quantity whereas in a Dual Power Regime, both the price and quantity decisions are granted to the more powerful firm. Tallying the power positions of the three firms, for each power regime we study three power structures and investigate the system's as well as the firms' preference of power. We find that when the assembler is the most powerful firm among the three, the system‐wide profit is the highest and so is the assembler's profit. The more interesting finding is that, if the assembler is not the most powerful player in the system, more power does not necessarily guarantee her a higher profit. Similarly, a supplier's profit can also decrease with the power he has. These results contrast with the conclusion for serial systems, where a firm always prefers more power. We also find that when both suppliers are more (less) powerful than the assembler, it can be beneficial (indifferent) for everyone if the two suppliers merge into a mega supplier to make decisions jointly. When the assembler is more powerful than one supplier and less so than the other, it is always better for the system to have the two suppliers merge, and for each individual firm, merging is preferred if the firm becomes the more powerful party after merging.     

基于客户利润贡献度、贡献增长率和关系可靠性的客户细分研究

客户保持已成为公司成功最至关重要的目标。客户细分作为实施客户保持工作的第一步,正确的客户细分能为企业采取有效的策略提供依据。分析了目前客户细分研究的局限性,认为通过客户利润贡献度、贡献增长率和关系可靠性能够从横向和纵向两方面对客户进行有效地细分,进而改善企业的客户关系管理。