＂Decoupling＂ refers to the divergence of business cycles among different countries, while ＂re-coupling＂ corresponds to the convergence or the synchronization of business cycles among different countries. The decou...＂Decoupling＂ refers to the divergence of business cycles among different countries, while ＂re-coupling＂ corresponds to the convergence or the synchronization of business cycles among different countries. The decoupling debate is popular in the field of economics, especially after global financial crisis. As trade integration increased among Asian countries, business cycle synchronization among these countries was expected to increase through trade transmission. The aim of this study is to discover whether there has been decoupling or convergence of business cycles through various trade channels. However, theoretically, increased trade can lead to business cycle synchronization either rising or falling. Inter-industry trade resulting in higher specification will induce less synchronized business cycles, while intra-industry trade could lead to increased business cycle synchronization. Thus, it is important to distinguish between intra- and inter-industry trade flows. Both correlation and dynamic factor models are utilized to study the evolution of global business cycle linkages. Results indicate that the world factor has become less important in explaining macroeconomic fluctuations from sub-period 1961-1984 to sub-period 1985-2007, while regional factors do not play an important role in explaining aggregate volatility, with the expectation of consumption. Overall, the explanatory power of country factors increases. Domestic consumption and domestic investment variances are more driven by country and idiosyncratic factors than by the world factor, contrary to the output growth fluctuations. Regional factors and country factors also play a more prominent role in explaining gross import fluctuations than in explaining gross exports. Results cast doubt on the strong forms of both the decoupling and the re-coupling hypothesis.展开更多
Depending on the source, a reader may be left with the impression that Family Businesses （FBs） typically account for between 75% and 95% of all enterprises operating in an economy. This study, using official structu...Depending on the source, a reader may be left with the impression that Family Businesses （FBs） typically account for between 75% and 95% of all enterprises operating in an economy. This study, using official structural business statistics from Ireland, suggests that in fact family businesses may account for a considerably smaller share of the business economy, something closer to 46%. This paper attempts to explain how such a discrepancy can arise. Using the Annual Services Inquiry compiled by the Central Statistics Office （CSO） as the anchor dataset, micro data are linked to the e-Commerce and ICT survey, Community Innovation Survey and VAT registrations datasets in order to determine whether labour productivity in Family Businesses （FBs） is significantly different to that of Non-Family Businesses （NFBs） and if Information and Communication Technologies （ICT） or innovation has an impact. The paper also highlights the significant impact that Foreign Direct Investment （FDI） makes to the Irish economy. This analysis is particularly relevant for a small open economy like Ireland where 31% of traded services GVA and 15% of employment is generated by multinational enterprises.展开更多
As a result of economic reform commencing in 1978 in China, cultural beliefs of the Chinese busines,owners are changing. While much has been published concerning large and multinational businesses, there is gap in kno...As a result of economic reform commencing in 1978 in China, cultural beliefs of the Chinese busines,owners are changing. While much has been published concerning large and multinational businesses, there is gap in knowledge of cultural beliefs of small and medium sized enterprises. To provide new knowledge, a survey or, these smaller sized enterprises located throughout China was conducted in the summer of 2006. Respondents were selected from urban and rural areas, coastal and inland provinces and various industries to provide information or, their opinions on how some of their cultural beliefs have changed from 1990 to present. Specific beliefs questionea include： Use of fengshui, Traditional Forbidden Activities, Company Naming Responsibility, Company Name Basis, Use of Numbers, Use of Physiognomy, and Prediction of a Company＇s Future. The importance of fengshui has risen aver in the last sixteen years and certain traditional.forbidden activities such as not turning over the fish while eating has remained important as a cultural belief. Naming a company is important and the desirability of a good name is bared on various factors. Use of numbers, physiognomy, and non-scientific methods for predicting the future success,of companies are of lesser use. These aspects of culture are reviewed in consideration of the change from a planned economy to amarket-based economy.展开更多
The paper deals with the change of management values in Estonian business life in the year of the rapid growth （2007） as compared with the year of hard decline （2009）. The hypothesis is set that company managers d...The paper deals with the change of management values in Estonian business life in the year of the rapid growth （2007） as compared with the year of hard decline （2009）. The hypothesis is set that company managers do not have permanent values but they change accordingly to the change in economic conditions： in economical welfare situations business-managers more eagerly take larger responsibilities on ethical and philantrophical stages but in crisis only the lower stages （economical and legal ones） could be detained. In the paper, we firstly observe if values change in general and secondly we study if our pre-stated hypothesis holds. As the research method we use the method of critical incidents展开更多
E-commerce is the motive to push on the human society progress and economic development in the 21st century, and also the inexorable choices for traditional enterprises to gain competitive advantage facing new economy...E-commerce is the motive to push on the human society progress and economic development in the 21st century, and also the inexorable choices for traditional enterprises to gain competitive advantage facing new economy. Developing E-commerce may reduce trading cost, enhance trading efficiency, allocate social resources and push forward reform and innovation in the management of traditional enterprises. E-commerce facing entry into WTO of China, business administration and computer applications has fallen behind, E-commerce infrastructure has not been built well, and network society has not formed a definite scale. On the basis of analysis on the environment of the development of E-commerce, this paper puts forward some appropriate countermeasures. They are to lay down China E-commerce strategy, carry out knowledge management, establish E-commerce strategy alliance, reconstruct digital core products, reorganize enterprise resources, practice administration technology such as SCM, CRM and ERP, and strengthen E-commerce infrastructure for a better environment of E-commerce development.展开更多
In the Internet economy of the twentieth century, the competition for customers between enterprises is stiffer so that they strive for customers by all means. As a kind of new thing in the Internet economy, E-commerce...In the Internet economy of the twentieth century, the competition for customers between enterprises is stiffer so that they strive for customers by all means. As a kind of new thing in the Internet economy, E-commerce can attract customers and expand sales efficiently; therefore, E-commerce becomes a powerful means by which enterprises can improve customer asset rapidly. However, compared with customer asset of traditional commerce enterprises, E-commerce enterprises customer asset is more liable to be affected by the surroundings, which will result in risk. On the other hand, though enterprises pay close attention to the study of customer asset risk of E-commerce enterprises currently, the academic circles have made little research in this respect, which is not helpful for enterprises to improve customer asset by applying for E-commerce, nor can meet the actual requirement for the development of academic circles. Therefore, the customer asset risk discernment of E-commerce enterprises has been studied in this paper, and case-based reasoning（CBR） has been applied to the discernment of the customer asset risk of E-commerce enterprise, which provides quantitative basis for customer asset risk management of E-commerce enterprises and conduces to the prevention of customer asset risk and the efficiency improvement of E-commerce.展开更多
Zeppelins and airplanes went into a commercial competition during the 1920s and 1930s. The Zeppelin was a very costly and high-scale technology which operated with a number of devices less than fingers a hand has. Air...Zeppelins and airplanes went into a commercial competition during the 1920s and 1930s. The Zeppelin was a very costly and high-scale technology which operated with a number of devices less than fingers a hand has. Airplanes, however, were cheap both in investment and operation and improved their cost-effectiveness rapidly during the times. Therefore, it was clear from an economic point of view to develop a fast growing net of commercial airports serving an even fast growing number of passengers. This was self-energizing. Zeppelins, however, focused on one, later two point-to-point services only, justified by a lack of capital and permanent economic losses.展开更多
This paper constitutes a review of the most important aspects of commercial risks arising from charterparties, operations and claims issues. That means the risks allocated between the shipowner and the charterer throu...This paper constitutes a review of the most important aspects of commercial risks arising from charterparties, operations and claims issues. That means the risks allocated between the shipowner and the charterer throughout the chartering process （pre-fixture, fixture, execution of charter, post-fixture, claims handling）, from a financial, operational and legal perspective. The interpretation of the above mentioned matters is considered of critical importance in chartering practice. The analysis is seen from a commercial stand point. Therefore, it is mostly addressed to the shipping practitioners, maritime economists, academics, students and researchers who seek to form a comprehensive view on the subject. It may also form a basis for further study on chartering aspects （legal, economic, managerial and practical）.展开更多
In the economic structure of our country, small and medium-sized enterprises （SMEs） are the most important part of the backbone, with the continuous popularization of the Internet, e-commerce has gradually become a ...In the economic structure of our country, small and medium-sized enterprises （SMEs） are the most important part of the backbone, with the continuous popularization of the Internet, e-commerce has gradually become a business model that the current small and medium enterprises must face and accept, The development of enterprises is of great signifi cance. In this context, the article first introduced the importance of the development of e-commerce SMEs, and then based on the actual operation of the community put forward and analyzed the current e-commerce development under the existing problems, and finally based on the actual lack of effective Development Strategy of E - commerce for Small and Medium - sized Enterprises.展开更多
The financial sector has played a small role in the restructuring of the manufacturing sector in transition economies, and in some cases, financial liberalization may have undermined real sector development. However, ...The financial sector has played a small role in the restructuring of the manufacturing sector in transition economies, and in some cases, financial liberalization may have undermined real sector development. However, stable and stimulating business environment is crucial for economic development. The aim of this paper is to show the main changes that have been implemented in Montenegro so far, and guidelines for changes in the financial market in Montenegro, for further harmonization in accordance with the requirements of European Union （EU） accession. Also, the ability of governments of transition economies to enforce contracts and to achieve fiscal and monetary responsibility is of great importance for economic and financial development. By adopting the new Constitution of Montenegro, in the field of regulation of the financial system, there have been significant changes, recognizing the Central Bank as an institution responsible for financial stability. The authors will give a review of the actual state of the financial market in Montenegro, as well as recommendations for further changes in order to create a favorable climate for entrepreneurship and to strengthen the overall financial system.展开更多
文摘＂Decoupling＂ refers to the divergence of business cycles among different countries, while ＂re-coupling＂ corresponds to the convergence or the synchronization of business cycles among different countries. The decoupling debate is popular in the field of economics, especially after global financial crisis. As trade integration increased among Asian countries, business cycle synchronization among these countries was expected to increase through trade transmission. The aim of this study is to discover whether there has been decoupling or convergence of business cycles through various trade channels. However, theoretically, increased trade can lead to business cycle synchronization either rising or falling. Inter-industry trade resulting in higher specification will induce less synchronized business cycles, while intra-industry trade could lead to increased business cycle synchronization. Thus, it is important to distinguish between intra- and inter-industry trade flows. Both correlation and dynamic factor models are utilized to study the evolution of global business cycle linkages. Results indicate that the world factor has become less important in explaining macroeconomic fluctuations from sub-period 1961-1984 to sub-period 1985-2007, while regional factors do not play an important role in explaining aggregate volatility, with the expectation of consumption. Overall, the explanatory power of country factors increases. Domestic consumption and domestic investment variances are more driven by country and idiosyncratic factors than by the world factor, contrary to the output growth fluctuations. Regional factors and country factors also play a more prominent role in explaining gross import fluctuations than in explaining gross exports. Results cast doubt on the strong forms of both the decoupling and the re-coupling hypothesis.
文摘Depending on the source, a reader may be left with the impression that Family Businesses （FBs） typically account for between 75% and 95% of all enterprises operating in an economy. This study, using official structural business statistics from Ireland, suggests that in fact family businesses may account for a considerably smaller share of the business economy, something closer to 46%. This paper attempts to explain how such a discrepancy can arise. Using the Annual Services Inquiry compiled by the Central Statistics Office （CSO） as the anchor dataset, micro data are linked to the e-Commerce and ICT survey, Community Innovation Survey and VAT registrations datasets in order to determine whether labour productivity in Family Businesses （FBs） is significantly different to that of Non-Family Businesses （NFBs） and if Information and Communication Technologies （ICT） or innovation has an impact. The paper also highlights the significant impact that Foreign Direct Investment （FDI） makes to the Irish economy. This analysis is particularly relevant for a small open economy like Ireland where 31% of traded services GVA and 15% of employment is generated by multinational enterprises.
文摘As a result of economic reform commencing in 1978 in China, cultural beliefs of the Chinese busines,owners are changing. While much has been published concerning large and multinational businesses, there is gap in knowledge of cultural beliefs of small and medium sized enterprises. To provide new knowledge, a survey or, these smaller sized enterprises located throughout China was conducted in the summer of 2006. Respondents were selected from urban and rural areas, coastal and inland provinces and various industries to provide information or, their opinions on how some of their cultural beliefs have changed from 1990 to present. Specific beliefs questionea include： Use of fengshui, Traditional Forbidden Activities, Company Naming Responsibility, Company Name Basis, Use of Numbers, Use of Physiognomy, and Prediction of a Company＇s Future. The importance of fengshui has risen aver in the last sixteen years and certain traditional.forbidden activities such as not turning over the fish while eating has remained important as a cultural belief. Naming a company is important and the desirability of a good name is bared on various factors. Use of numbers, physiognomy, and non-scientific methods for predicting the future success,of companies are of lesser use. These aspects of culture are reviewed in consideration of the change from a planned economy to amarket-based economy.
文摘The paper deals with the change of management values in Estonian business life in the year of the rapid growth （2007） as compared with the year of hard decline （2009）. The hypothesis is set that company managers do not have permanent values but they change accordingly to the change in economic conditions： in economical welfare situations business-managers more eagerly take larger responsibilities on ethical and philantrophical stages but in crisis only the lower stages （economical and legal ones） could be detained. In the paper, we firstly observe if values change in general and secondly we study if our pre-stated hypothesis holds. As the research method we use the method of critical incidents
文摘E-commerce is the motive to push on the human society progress and economic development in the 21st century, and also the inexorable choices for traditional enterprises to gain competitive advantage facing new economy. Developing E-commerce may reduce trading cost, enhance trading efficiency, allocate social resources and push forward reform and innovation in the management of traditional enterprises. E-commerce facing entry into WTO of China, business administration and computer applications has fallen behind, E-commerce infrastructure has not been built well, and network society has not formed a definite scale. On the basis of analysis on the environment of the development of E-commerce, this paper puts forward some appropriate countermeasures. They are to lay down China E-commerce strategy, carry out knowledge management, establish E-commerce strategy alliance, reconstruct digital core products, reorganize enterprise resources, practice administration technology such as SCM, CRM and ERP, and strengthen E-commerce infrastructure for a better environment of E-commerce development.
文摘In the Internet economy of the twentieth century, the competition for customers between enterprises is stiffer so that they strive for customers by all means. As a kind of new thing in the Internet economy, E-commerce can attract customers and expand sales efficiently; therefore, E-commerce becomes a powerful means by which enterprises can improve customer asset rapidly. However, compared with customer asset of traditional commerce enterprises, E-commerce enterprises customer asset is more liable to be affected by the surroundings, which will result in risk. On the other hand, though enterprises pay close attention to the study of customer asset risk of E-commerce enterprises currently, the academic circles have made little research in this respect, which is not helpful for enterprises to improve customer asset by applying for E-commerce, nor can meet the actual requirement for the development of academic circles. Therefore, the customer asset risk discernment of E-commerce enterprises has been studied in this paper, and case-based reasoning（CBR） has been applied to the discernment of the customer asset risk of E-commerce enterprise, which provides quantitative basis for customer asset risk management of E-commerce enterprises and conduces to the prevention of customer asset risk and the efficiency improvement of E-commerce.
文摘Zeppelins and airplanes went into a commercial competition during the 1920s and 1930s. The Zeppelin was a very costly and high-scale technology which operated with a number of devices less than fingers a hand has. Airplanes, however, were cheap both in investment and operation and improved their cost-effectiveness rapidly during the times. Therefore, it was clear from an economic point of view to develop a fast growing net of commercial airports serving an even fast growing number of passengers. This was self-energizing. Zeppelins, however, focused on one, later two point-to-point services only, justified by a lack of capital and permanent economic losses.
文摘This paper constitutes a review of the most important aspects of commercial risks arising from charterparties, operations and claims issues. That means the risks allocated between the shipowner and the charterer throughout the chartering process （pre-fixture, fixture, execution of charter, post-fixture, claims handling）, from a financial, operational and legal perspective. The interpretation of the above mentioned matters is considered of critical importance in chartering practice. The analysis is seen from a commercial stand point. Therefore, it is mostly addressed to the shipping practitioners, maritime economists, academics, students and researchers who seek to form a comprehensive view on the subject. It may also form a basis for further study on chartering aspects （legal, economic, managerial and practical）.
文摘In the economic structure of our country, small and medium-sized enterprises （SMEs） are the most important part of the backbone, with the continuous popularization of the Internet, e-commerce has gradually become a business model that the current small and medium enterprises must face and accept, The development of enterprises is of great signifi cance. In this context, the article first introduced the importance of the development of e-commerce SMEs, and then based on the actual operation of the community put forward and analyzed the current e-commerce development under the existing problems, and finally based on the actual lack of effective Development Strategy of E - commerce for Small and Medium - sized Enterprises.
文摘The financial sector has played a small role in the restructuring of the manufacturing sector in transition economies, and in some cases, financial liberalization may have undermined real sector development. However, stable and stimulating business environment is crucial for economic development. The aim of this paper is to show the main changes that have been implemented in Montenegro so far, and guidelines for changes in the financial market in Montenegro, for further harmonization in accordance with the requirements of European Union （EU） accession. Also, the ability of governments of transition economies to enforce contracts and to achieve fiscal and monetary responsibility is of great importance for economic and financial development. By adopting the new Constitution of Montenegro, in the field of regulation of the financial system, there have been significant changes, recognizing the Central Bank as an institution responsible for financial stability. The authors will give a review of the actual state of the financial market in Montenegro, as well as recommendations for further changes in order to create a favorable climate for entrepreneurship and to strengthen the overall financial system.
