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Agglomeration, Absorptive Capacity and Knowledge Governance 集聚、吸收能力与知识治理
Pub Date : 2020-04-05 DOI: 10.2139/ssrn.3569048
Anthony Howell
This paper considers the role of firm ownership structure, absorptive capac-ity and agglomeration on firm innovation in the Chinese context. A popular co-occurrence measure is used to measure local spillovers expected to take place between similar but different industries co-located together. Relying on a large panel of Chinese firms, this paper offers three main results: (i) privately-owned enterprises (POEs) are more efficient innovators than their state-owned enter-prise (SOE) counterparts; (ii) local spillovers from related industries enhance firm innovation, especially for firms with higher pre-existing learning abilities; and (iii) despite possessing relatively high levels of absorptive capacity, POEs maintain higher innovation performance compared to their SOE counterparts. These findings help confirm the absorptive capacity thesis, but also suggest that possessing relatively higher levels of absorptive capacity, in and of itself, is not always a sufficient pre-condition for firms to overcome all of the cognitive and technological barriers to leveraging external sources of knowledge. In line with theories of knowledge governance, one explanation for this finding is that private (government) operators develop higher (lower) quality governance procedures that ultimately enhance (hamper) their ability to successfully integrate external sources of knowledge even after developing a high level of absorptive capabilities.
本文在中国背景下考察了企业股权结构、吸收能力和集聚对企业创新的影响。一种流行的共现度量方法被用来衡量在相似但不同的产业共存的情况下可能发生的局部溢出效应。通过对大量中国企业的调查,本文得出了三个主要结论:(i)民营企业(POEs)是比国有企业(SOE)更有效的创新者;(2)相关产业的本地溢出效应会促进企业创新,尤其是对于已有学习能力较高的企业;(3)尽管民营企业具有较高的吸收能力,但其创新绩效仍高于国有企业。这些发现有助于证实吸收能力理论,但也表明,拥有相对较高水平的吸收能力本身并不总是企业克服利用外部知识来源的所有认知和技术障碍的充分前提条件。根据知识治理理论,对这一发现的一种解释是,私营(政府)经营者开发了更高(更低)质量的治理程序,最终增强(阻碍)了他们成功整合外部知识来源的能力,即使在发展了高水平的吸收能力之后。
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引用次数: 1
INTEGRASI PASAR DAN TRANSMISI HARGA DALAM PASAR PERTANIAN (Market Integration and Price Transmission in Agricultural Market)
Pub Date : 2020-03-05 DOI: 10.2139/ssrn.3549160
B. Siswadi, A. Asnah, Dyana Sari
Indonesian Abstract: Buku ini terinspirasi dari skripsi mahasiswa tentang integrasi pasar yang membahas harga kopi untuk melihat sejauh mana harga itu mempunyai integrasi pasar dengan harga internasional. Pelacakan referensi yang tidak lengkap menjadikan analisis yang kurang sesuai dan terinspirasilah buku ini untuk menjawab bagaimana integrasi pasar terjadi dan menyebabkan adanya transmisi harga pada pasar pertanian. Penjelasan dalam buku ini dibuat sedemikian rupa, agar mudah dalam pemahaman dan pengertiannya.
Buku ini masih jauh dari sempurna dan oleh karenanya, kritik dan saran selalu diharapkan dan diterima dengan tangan terbuka.

English Abstract: This book is inspired by a student thesis on market integration that discusses the price of coffee to see to what extent that price has market integration with international prices. Incomplete reference tracking makes the analysis inappropriate and inspired by this book to answer how market integration takes place and causes price transmission to the agricultural market. The explanations in this book are made in such a way that they are easy to understand. This book is far from perfect and therefore critics and suggestions are always expected and accepted with open arms.
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引用次数: 4
Does Common Ownership Really Increase Firm Coordination? 共同所有制真的能促进企业协调吗?
Pub Date : 2020-02-18 DOI: 10.2139/ssrn.3336343
Katharina Lewellen, M. Lowry
A growing body of evidence concludes that common ownership caused cooperation among firms to increase and competition to decrease. We take a closer look at four approaches used to identify these effects. We find that the effects the literature has attributed to common ownership are caused by other factors, such as differential responses of firms (or industries) to the financial crisis. We propose a modification to one of the previously used empirical approaches, which is less sensitive to these issues. Using this to re-evaluate the link between common ownership and firm outcomes, we find little robust evidence that common ownership affects firm behavior.
越来越多的证据表明,共同所有权导致公司之间的合作增加,竞争减少。我们将仔细研究用于识别这些影响的四种方法。我们发现,文献中归因于共同所有权的影响是由其他因素引起的,例如企业(或行业)对金融危机的不同反应。我们建议对以前使用的经验方法之一进行修改,该方法对这些问题不太敏感。利用这一点来重新评估共同所有权与企业成果之间的联系,我们发现很少有强有力的证据表明共同所有权影响企业行为。
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引用次数: 88
Pricing and Quality Provision in a Supply Relationship: A Model of Efficient Relational Contracts 供给关系中的价格与质量:一个有效关系契约模型
Pub Date : 2020-02-10 DOI: 10.2139/ssrn.3123844
Cristina Nistor, Matthew Selove
This paper develops a model in which a supply relationship can sustain higher effort levels if firms use cross-subsidized pricing.
本文建立了一个模型,在该模型中,如果企业使用交叉补贴定价,供应关系可以维持更高的努力水平。
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引用次数: 4
Identity Technologies: A Transaction Cost Approach 身份技术:交易成本方法
Pub Date : 2020-01-28 DOI: 10.2139/ssrn.3526428
C. Berg, S. Davidson, J. Potts
Identity is an input into economic exchange and contracting. The modern industrial economy has relies on cheap political identity to create trust and lower transaction costs. Market economies, however, have different identity needs than an administrative state. Economic efficiency in a digital economy requires high-quality economic identity to facilitate co-production of value on platforms, and to enable market competition through product-quality discrimination. Blockchain technologies and related advances are bringing innovation to economic identity technology. In this paper we explore state-produced identity and market-produced identity, the dynamics that exist in their demand and supply, how these categories are being shaped by technological change, the implications for privacy and secrecy, and the role of the state in market-produced identity.
身份是经济交换和契约的一种输入。现代工业经济依赖于廉价的政治认同来创造信任和降低交易成本。然而,市场经济与行政国家有着不同的身份需求。数字经济中的经济效率需要高质量的经济身份,以促进平台上价值的共同生产,并通过产品质量歧视实现市场竞争。区块链技术及其相关进步正在为经济身份技术带来创新。在本文中,我们探讨了国家产生的身份和市场产生的身份,它们的需求和供应中存在的动态,这些类别是如何被技术变革塑造的,对隐私和保密的影响,以及国家在市场产生的身份中的作用。
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引用次数: 0
Estimating Incremental Margins for Diversion Analysis 估计分流分析的增量利润
Pub Date : 2020-01-23 DOI: 10.2139/ssrn.3524493
Seth B. Sacher, J. Simpson
Over the past twenty years, antitrust agencies increasingly have used diversion and pricing pressure analyses to help identify which mergers to investigate and then to help identify which mergers to challenge. A key input in these analyses is an estimate of the profits that firms earn on incremental sales. In this paper, we consider how best to estimate incremental margins for diversion and pricing pressure analyses given that for a number of reasons measures drawn from aggregate accounting data sometimes poorly measure the relevant incremental margin. We conclude such estimates often can be improved by making greater use of general knowledge about how the relevant market works, using detailed data to create incremental profit measures tied to a particular change in output, and presenting sensitivity analyses based on a range of plausible incremental margin estimates.
在过去的二十年里,反垄断机构越来越多地使用转移和定价压力分析来帮助确定哪些合并需要调查,然后帮助确定哪些合并需要挑战。在这些分析中,一个关键的输入是对公司从增量销售中获得的利润的估计。在本文中,我们考虑了如何最好地估计转移和定价压力分析的增量利润率,因为出于一些原因,从汇总会计数据中提取的措施有时不能很好地衡量相关的增量利润率。我们的结论是,通过更多地利用有关市场如何运作的一般知识,使用详细的数据来创建与产出的特定变化相关的增量利润指标,并基于一系列合理的增量利润估计提出敏感性分析,通常可以改进这种估计。
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引用次数: 4
Boards and Educational Governance 董事会与教育管治
Pub Date : 2019-12-27 DOI: 10.2139/ssrn.3510276
Golsbie Ross
[enter Abstract Body]There are many problems associated with being a member of a local school board. One issue by some individuals is a concern about the lack of diversity on school boards with a large students of color population. According to research, one main mission of a school board is to enforce and reinforce teaching and learning. According to (Townsend et al. 2005, p.18)” the board through its governance role does its best to encourage, provide, and reward these conditions and activities. All board members and the superintendent need to be clear as to the character tics of powerful teaching and learning and then model those in their work.” Therefore, from this perspective, it is my purpose to present data such as community relationships, role clarification, and student academic success as key variables in becoming a member of a board of trustees and promoting student’s excellence.
作为当地学校董事会的一员,会遇到很多问题。一些人提出的一个问题是,他们担心拥有大量有色人种学生的学校董事会缺乏多样性。根据研究,学校董事会的一个主要任务是执行和加强教与学。根据(Townsend et al. 2005, p.18)“董事会通过其治理角色尽其所能鼓励、提供和奖励这些条件和活动。所有董事会成员和校长都需要清楚地认识到强力教学的特点,然后在他们的工作中树立榜样。”因此,从这个角度出发,我的目的是将社区关系、角色澄清和学生学业成功等数据作为成为董事会成员和促进学生卓越的关键变量。
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引用次数: 0
The Impact of Labor Mobility Restrictions on Managerial Actions: Evidence from the Mutual Fund Industry 劳动力流动限制对管理行为的影响:来自共同基金业的证据
Pub Date : 2019-12-19 DOI: 10.2139/ssrn.3151473
G. Cici, Mario Hendriock, A. Kempf
This paper examines how labor mobility restrictions such as non-compete clauses in employment contracts affect the incentives and resulting behavior of employees. Using the investment industry as a testing laboratory, we find that mutual fund managers respond to heightened career concerns due to increased enforceability of non-compete clauses by increasing effort, reducing downside risk, engaging less in tournaments, making their portfolios similar to the portfolios of their benchmarks or peers, and increasing window-dressing. These concerns are, however, moderated by the presence of more developed internal labor markets, which allow managers to substitute restricted across-family mobility with within-family mobility.
本文考察了劳动合同中的竞业禁止条款等劳动力流动限制如何影响员工的激励和由此产生的行为。将投资行业作为测试实验室,我们发现共同基金经理通过增加努力、降低下行风险、减少参加比赛、使其投资组合与基准或同行的投资组合相似以及增加橱窗装饰来应对由于非竞争条款的可执行性增加而引起的职业担忧。然而,这些担忧由于更发达的内部劳动力市场的存在而有所缓和,这使得管理人员可以用家庭内部的流动来代替受限制的跨家庭流动。
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引用次数: 11
Semantic Processing Theory Could Help Explain the Effectiveness of Creativity Incentives: A Numerical Experiment 语义加工理论有助于解释创造力激励的有效性:一个数值实验
Pub Date : 2019-12-01 DOI: 10.2308/jmar-18-051
B. Knox
Two seminal accounting studies on creativity and incentives find that output creativity is insensitive to creative effort. They compare a one-dimensional quantity contract that measures only output...
两项关于创造力和激励的开创性会计研究发现,产出创造力对创造性努力不敏感。他们比较了只衡量产出的一维数量合同……
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引用次数: 1
Global Value Chains and External Adjustment: Do Exchange Rates Still Matter? 全球价值链与外部调整:汇率仍然重要吗?
Pub Date : 2019-12-01 DOI: 10.5089/9781513521985.001
Gustavo Adler, S. Meleshchuk, C. Buitron
The paper explores how international integration through global value chains shapes the working of exchange rates to induce external adjustment both in the short and medium run. The analysis indicates that greater integration into international value chains reduces the exchange rate elasticity of gross trade volumes. This result holds both in the short and medium term, pointing to the rigidity of value chains. At the same time, greater value chain integration is associated with larger gross trade flows, relative to GDP, which tends to amplify the effect of exchange rate movements. Overall, combining these two results suggests that, for most countries, integration into global value chains does not materially alter the working of exchange rates and the benefits of exchange rate flexibility in facilitating external adjustment remain.
本文探讨了通过全球价值链的国际一体化如何塑造汇率的运作,从而引发短期和中期的外部调整。分析表明,更大程度地融入国际价值链降低了贸易总额的汇率弹性。这一结果在短期和中期都成立,表明价值链的刚性。与此同时,相对于GDP而言,更大的价值链整合与更大的贸易总额相关,这往往会放大汇率变动的影响。总的来说,结合这两个结果表明,对大多数国家来说,融入全球价值链并没有实质性地改变汇率的运作,汇率灵活性在促进外部调整方面的好处仍然存在。
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引用次数: 6
期刊
IO: Firm Structure
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