{"title":"The relationship of macroeconomy and the Treasury yield curve: evidence from China","authors":"Huiyan Dong, Shou-yang Wang","doi":"10.1109/ICMSE.2014.6930302","DOIUrl":"https://doi.org/10.1109/ICMSE.2014.6930302","url":null,"abstract":"The joint behavior of the Treasury yield curve and macroeconomic variables is important for bond pricing, investment decision and policy making. The empirical analysis has been carried out for mature markets like U.S., and in this paper we focus on China, an emerging market with an immature bond market. Through the Principle Component Analysis, we extract the level, slope and curvature factors from the Treasury yield curve and inflation factor and real economic activity factor from a set of macro variables. Structural VAR model is used to analyze their relationship. The impulse respond result shows that the inflation and real economic activity have significant influence on the level, slope and curvature factors of yield curve, and vice versa. The monetary policy can affect the three factors of yield curve, but cannot be influenced by any of them.","PeriodicalId":197239,"journal":{"name":"2014 International Conference on Management Science & Engineering 21th Annual Conference Proceedings","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129731037","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Study on improving paths of industrial independent innovation capability and the selection method: From the perspective of industrial alliance","authors":"Wang Hong-qi, Li Li, Wu Jian-long, Wang Shan-shan","doi":"10.1109/ICMSE.2014.6930439","DOIUrl":"https://doi.org/10.1109/ICMSE.2014.6930439","url":null,"abstract":"The core innovation advantage of industrial alliance is the foundation and direction to improve industrial independent innovation capability. Firstly, the industrial alliance classification and corresponding functional orientation of industrial innovation is analyzed, and then, the improving paths of industrial independent innovation capability based on industrial alliance are designed. Secondly, identification index system of core innovation advantage of industrial alliance is constructed, as well as quantization standards and rules before building the selection framework of improving paths of industrial independent innovation capability. At last, empirical study on improving paths selection is conducted by taking key areas of new material industry in Heilongjiang province as an example. Generally, this research aims to provide theory and method guidance to improve industrial independent innovation capability through industrial alliance.","PeriodicalId":197239,"journal":{"name":"2014 International Conference on Management Science & Engineering 21th Annual Conference Proceedings","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121575470","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A behavioral study on the value of elasticity of marginal utility in environmental risks","authors":"C. Xie, Liu Yang, Sheng-xiang She","doi":"10.1109/ICMSE.2014.6930227","DOIUrl":"https://doi.org/10.1109/ICMSE.2014.6930227","url":null,"abstract":"The choice of elasticity of marginal utility greatly affects time discount rate, and is thus key parameter in welfare analysis across generations. This research elicits the value of elasticity of marginal utility with a behavioral experiment. Participants make behavioral decisions under environmental risks the experiment. Through the use of iso-elastic utility function, we derive elasticity of marginal utility. We find that the value of elasticity of marginal utility much lower than those used in existing literature. In addition, we notice that and people tend to overestimate the subjective probability of environmental risks in the experiment. A lower value of elasticity of marginal utility based upon real environmental behavior suggests a lower time discount rate. This is more preferable to make ethically motivated decisions on the welfare distribution across generations, and is more consistent with public attitudes.","PeriodicalId":197239,"journal":{"name":"2014 International Conference on Management Science & Engineering 21th Annual Conference Proceedings","volume":"227 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116386525","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Xu-Ting Long, Gao Su-ying, Liu Bing, B. Grami, Yu Hui
{"title":"Impact of the fitness between business strategy and HRM system on sustained competitive advantage","authors":"Xu-Ting Long, Gao Su-ying, Liu Bing, B. Grami, Yu Hui","doi":"10.1109/ICMSE.2014.6930282","DOIUrl":"https://doi.org/10.1109/ICMSE.2014.6930282","url":null,"abstract":"Based on contingency theory and the resource-based view of firms, this paper summarizes hypotheses of Business strategies, HRM systems and sustained competitive advantage of firms, and uses the data from 263 Chinese listed companies to empirically test for the hypotheses. The results show that companies that pursue different business strategies implement different HRM systems to match with them. Those that pursue cost leadership strategy would implement external HRM system, and those that pursue differentiation strategy tend to implement internal HRM system. Moreover, companies whose HRM system matches with business strategy do not have necessarily higher short-term performance while companies whose HRM system matches with business strategy always have higher long-term performance than those whose HRM system does not match.","PeriodicalId":197239,"journal":{"name":"2014 International Conference on Management Science & Engineering 21th Annual Conference Proceedings","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123622124","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Relations with non financial listed companies financing structure and corporate performance","authors":"Gao Yan-ru, Lan Hui, L. Liang","doi":"10.1109/ICMSE.2014.6930369","DOIUrl":"https://doi.org/10.1109/ICMSE.2014.6930369","url":null,"abstract":"Financing structure is reasonable or not is critical to the company's performance. In this paper, take the relationship between non financial sectors of the financing structure of listed companies and corporate performance as the main object of study, from both theoretical and empirical levels explores the impact of China's non financial sectors financing structure of listed companies on corporate performance. This paper chooses 193 non-financing sectors listed companies of Shanghai and Shenzhen stock exchanges as samples, conducts an empirical test on the relationship between financing structure and corporate governance performance from 2010 to 2012. The results of empirical test show that the equity financing ratio and operating performance of non financial sectors listed companies in China was a significant positive correlation; no significant linear relationship between the endogenous financing ratio and corporate performance; the debt financing ratio and operating performance is negatively correlated.","PeriodicalId":197239,"journal":{"name":"2014 International Conference on Management Science & Engineering 21th Annual Conference Proceedings","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123983267","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Frank Johnson Goodnow's ideas on administrative reform and public administration reform in China—Reconsidering the book of politics and administration: A study in government","authors":"Jun Liu","doi":"10.1109/ICMSE.2014.6930469","DOIUrl":"https://doi.org/10.1109/ICMSE.2014.6930469","url":null,"abstract":"Politics and Administration: a Study in Government is not only the best work on the administrative study by Frank Johnson Goodnow, but one of the classics of the Science of Public Administration. More than one hundred years have passed, since this master's book was first read, we could not refrain from thinking that, it suddenly opens a door for us and enlightens us. What Frank Johnson Goodnow wrote during the so-called American Progress Time of industrialization, urbanization and modernization in this book, will quite inspire China, who's undertaking reforms concerning industrialization, urbanization and modernization. This essay is aimed at combing some of Goodnow's critical views and thoughts and interpreting them under the circumstances in China, so as to find the value of reference to Chinese reforms. Particularly his opinions on the conditions of state, functions of state, roles of political parties, relations between central and local governments and dichotomy on politics and administration, are still shining with the light of wisdom, which indicate our exploration to reform and advance.","PeriodicalId":197239,"journal":{"name":"2014 International Conference on Management Science & Engineering 21th Annual Conference Proceedings","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115858910","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"International comparison and influencing factors of public investment in education—A case of 41 countries","authors":"Tiancheng Zhou, Xin-feng Liu, Zhong-xia Zheng","doi":"10.1109/ICMSE.2014.6930484","DOIUrl":"https://doi.org/10.1109/ICMSE.2014.6930484","url":null,"abstract":"In our study, “the ratio of public education expenditure to gross domestic product” was selected as an index to value a country's educational investment level, the public investment in education data of more than 41 countries from 2003 to 2012 years were compared. Based on the compared data, using the regression analysis method, we forecast the public investment in education of the world countries in the next five years, we found that national economic development, national policy, developmental of science and technology and social contribution all would influence the public investment in education of the countries in the world.","PeriodicalId":197239,"journal":{"name":"2014 International Conference on Management Science & Engineering 21th Annual Conference Proceedings","volume":"174 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134526048","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Can service blueprinting be applied to innovation policy implementation?","authors":"Xuerong. Xia, Kieron Flanagan","doi":"10.1109/ICMSE.2014.6930491","DOIUrl":"https://doi.org/10.1109/ICMSE.2014.6930491","url":null,"abstract":"This paper explores the potential application of blueprinting, a public service innovation tool, to the design and implementation of innovation policy. Firstly, we briefly summarize some problems often encountered in existing innovation policy processes, especially in less developed countries. Studies suggest that oversimplification and incompleteness of specification of implementation are common problems. Then, we consider blueprinting as an instrument for checking existing policy to improve it and to support the design of new policy systems, taking the example of innovation voucher schemes to show how it could work. We look in particular at the Netherlands innovation voucher system as an example to show how successful policy making processes often consider the five aspects which are the basic components for blueprinting. Based on this case, the pros and cons of the instrument used in policy design and implementation are considered.","PeriodicalId":197239,"journal":{"name":"2014 International Conference on Management Science & Engineering 21th Annual Conference Proceedings","volume":"119 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121854856","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Breaking the existing regional technological regime with effective policy-making: A case study on New-energy Vehicle Manufacturing in Jilin Province","authors":"Xi Xi, Zhao Jian-yu","doi":"10.1109/ICMSE.2014.6930495","DOIUrl":"https://doi.org/10.1109/ICMSE.2014.6930495","url":null,"abstract":"This article contributes to the policy-making of regional sector by studying into a specific case of New-energy Vehicle Manufacturing in Jilin Province. During the forty years ever since energy crisis stroke this planet in 1970s, many countries and regions have been searching for ways of altering traditional energy into new energy, namely changing the existing technological regime in some certain regions. The objectives of the research are to utilize Bergek et al. (2008)'s policy-designing framework into China's empirical practice and attempt to carry out effective suggestions to the policy-making process. To investigate this, empirical investigations was taken into New-energy Vehicle Manufacturing in Jilin Province and a network is constructed. Results imply that there are some inducement mechanisms as well as blocking mechanisms in the sectoral innovation system in the region. Thus five aspects of policy issues suggested are addressed in this research based on the mechanisms. It is concluded that policy-designing framework done by Bergek et al. is an efficient policy-making tool for regional sectoral innovation system. The case study used in this article could provide references for policy-making process of New-energy Vehicle Manufacturing in Jilin Province.","PeriodicalId":197239,"journal":{"name":"2014 International Conference on Management Science & Engineering 21th Annual Conference Proceedings","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133327392","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Exploring social commerce adoption in China: A uses and gratification perspective","authors":"Xue Yang, Guoxin Li","doi":"10.1109/ICMSE.2014.6930277","DOIUrl":"https://doi.org/10.1109/ICMSE.2014.6930277","url":null,"abstract":"As a new e-commerce paradigm, social commerce has resulted from consumers relying on the online recommendations of friends and acquaintances. To clarify Chinese consumers' social commerce intentions, we conducted an empirical study based on a uses and gratifications approach. The results indicate that perceived gratification from entertainment was found to be the strongest predictor of Chinese consumers' social commerce intentions. This is followed by the perceived gratification from information seeking, expressive information sharing, cool and new trends, and social interaction. However, neither gratification from escape nor passing time was found to be significant predictor. In addition, perceived gratification from information seeking has a stronger influence on consumers' social commerce intentions in females than in males, while perceived gratification from expressive information sharing has a stronger influence on consumers' social commerce intentions in males than in females. Theoretical and practical implications of these findings are discussed in the paper.","PeriodicalId":197239,"journal":{"name":"2014 International Conference on Management Science & Engineering 21th Annual Conference Proceedings","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116663192","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}