Global production aspirations and internationalization by state-owned enterprises:A Co-evolutionary view of statedriven industrialized economy

The study aims to explore whether internationalization by state-owned enterprises is a curse or blessing in the context of aspirant industrial economies,such as China.What do state-owned enterprises'global production aspirations,such as outward foreign direct investment,bring into their home country?To answer this question,this study proposes a unique,co-evolutionary perspective of the state-driven industrialized economy by leveraging insights from economic discoveries such as Adam Smith's wealth of nations,David Ricardo's comparative advantage,and Michael Porter's competitive advantage.This view suggests that an outward foreign investment strategy may likely provide state-owned enterprises with access to resources and advanced production technologies,enhance innovation capabilities,gain more competitive advantage,and achieve superior performance,thus leading to spillover effects on their home country's wealth,comparative advantage,and competitiveness.This study discusses China's grand policies,economic performance,and successful cross-border industrial acquisitions.

Review on ranking and selection: A new perspective

In this paper,we briefly review the development of ranking and selection(R&S)in the past 70 years,especially the theoretical achievements and practical applications in the past 20 years.Different from the frequentist and Bayesian classifications adopted by Kim and Nelson(2006b)and Chick(2006)in their review articles,we categorize existing R&S procedures into fixed-precision and fixed-budget procedures,as in Hunter and Nelson(2017).We show that these two categories of procedures essentially differ in the underlying methodological formulations,i.e.,they are built on hypothesis testing and dynamic programming,respectively.In light of this variation,we review in detail some well-known procedures in the literature and show how they fit into these two formulations.In addition,we discuss the use of R&S procedures in solving various practical problems and propose what we think are the important research questions in the field.