2019, 22(9):1-11.
Abstract:The breakthrough of management in China depends on the power and practical innovation of Chinese enterprises and entrepreneurs,as well as the theoretical summaries by researchers with academic attainments and theorizing capacity. Management in China may make breakthroughs in the following two aspects: On the one hand,with the help of methodological breakthroughs,we should unearth the wisdom and theoretical implication of Chinese people in dealing with complex problems in management practice. On the other hand,we should refine the practice of multiple intelligences coexistence and interaction in the digital and intelligent era,and built an inclusive and reflexive governance and management architectures or mechanisms.HeXie Management research provides an example for this. The breakthrough of management in China is the self-transcendence of Chinese management scholars and practitioners and the transcendence of Chinese traditional wisdom,and will contribute new valuable knowledge to the world.
ZHOU Ying-gang , CHENG Xin , WANG Yi-ming
2019, 22(9):12-38.
Abstract:With an innovative network approach,this study presents strong evidence of CNY’s growing influence in the global monetary system. We identify networks of exchange rate spillovers and examine time-varying spillover intensities among CNY and other currencies of G20 countries. Shocks from CNY,the onshore CNY exchange rate,generate intensifying net spillovers since China initiated market reforms in 2005. Further analysis shows that market-oriented reforms and stability of CNY exchange rate is an important driving force of its growing importance. Moreover,international trade,outward investment and interest rate are important economic sources of increasing CNY spillover effect.
2019, 22(9):39-51.
Abstract:Prior literature has shown that for a symmetric information setting,introducing store brands can benefit the retailer and do harm to the manufacturer. This paper extends the problem of store brand introduction to the situation in which the retailer might be better informed than the manufacturer. It is found that the retailer’s ordering decisions are different compared with the symmetric information scenario. In particular,the retailer’s ordering quantity of national brand may increase with the introduction of store brand,depending on the production cost. An exploration of the two players’performance with respect to relative profit improvements shows that under certain conditions they can reach a“win-win”outcome.
2019, 22(9):52-66.
Abstract:Credit scoring model is the core of credit rating model,and the weight is the key factor which influences the accuracy of credit scoring. A rational weight vector is of crucial importance to credit rating. This paper establishes a nonlinear programming which aims at maximizing a standardized mean difference of the credit scores of two kinds of clients. Then by solving the programming,the optimal weight of credit scoring model is derived. To guarantee the effectiveness,the model is validated by Precision Recall Curve. Next,altogether 1231 enterprises are rated based on the credit score calculated by our model. The innovations and characters in this paper are: firstly,an objective function is established by constructing the function relationship between the weight vector W and the standardized mean difference D of the two group of clients. Secondly,a nonlinear programming model,which maximizes the above mentioned objective function,is established to find the optimal weight vector W. This method can guarantee that the scores based on the weights have a significant default discrimination power and can distinguish the default to the largest possible extent,thus avoiding the drawbacks of recent researches. Secondly,non-financial indexes,accounting for nearly 58%,are more important than financial indexes on small enterprise credit rating. Among the non-financial indexes,per capital disposable income of urban residents is most important,with a weighting of 14.7%. Thirdly,the credit scoring model is validated by PR curve method. The research result shows that our credit scoring model has a better discrimination power than classic models in existing researches.
2019, 22(9):67-81.
Abstract:During the 2015~2016 A-stock market crash,whether the“national team”has achieved the objective of stabilizing the market has attracted extensive attention from the industry and academic circles. Based on the Chinese stock market data from the third quarter of 2015 to the fourth quarter of 2016,this paper studies the influence of the“national team”shareholding on stock price volatility. Our results show that: the“national
2019, 22(9):82-96.
Abstract:Differing from the current studies which focus on the process management or the reduction of the information asymmetry, this paper establishes an incentive compatible outsourcing contract model for R&D in CoPS. The following results are derived by comparing three models—the standard game model( model I) , the modified game model embedded with quality guarantee( model II) , and the improved model embedded with the bi-direction option of sharing and penalty( model III) : 1) Process control( model I) , cannot solve the problem of sub-optimal in whole , nor can it eliminate the sub-contractor s lazy behavior; 2) To a certain extent,sub-contractors lazy behavior can be alleviated by quality guarantee( model II) ; 3) The improved contract ( model III) can solve the above two problems and achieve overall optimum, since information asymmetry will be eliminated when the sub-contractor income is decided by his own effort. This paper examines information asymmetry from a new perspective and solves the problems of sub-optimal in whole and laziness. It is an expansion and deepening of incentive compatibility theory and contract governance in outsourcing field, and it provides a new idea for outsourcing contract governance in management practices.
2019, 22(9):97-112.
Abstract:A game model between an original equipment manufacturer ( OEM) and a remanufacturer is established in order to analyze the effect of design for remanufacturing ( DfR) on manufacturing /remanufacturing supply chain competition under the outsourcing remanufacturing pattern. Moreover,based on the game model,the effect of different DfR cost sharing modes on the DfR effort level,the collection rate of used products,benefit and environmental impact is analyzed. The main research results are as follows: through outsourcing remanufacturing,the OEM could not only reduce the market competitive advantage of the remanufacturer,but also increase its benefit; DfR could promote the remanufacturer to collect used products and thus improve the collection rate of used products; whether the OEM or the remanufacturer covering the DfR cost,both benefits are maximized at certain different DfR effort levels,in other words,the greater effort of DfR does not always bring the greater benefit; remanufacturing does not always reduce environmental impact,and it is more environmental friendly only when the ratio of environmental impact for unit remanufactured to new products is less than a certain threshold,and the ratio of the DfR brought benefit for unit remanufactured to new products is greater than a certain threshold.
CAO Ce-jun , LI Cong-dong , QU Ting , YANG Qin
2019, 22(9):113-128.
Abstract:To decrease the suffering of survivors,improve efficiency of disaster response,and reduce various losses,a leader-follower optimization problem for trans-regional relief reactive scheduling is considered. A bi-level integer programming model that characterizes uncertain relief-supply and demand,varying travel time,equitable principle,multi-level heterogeneity and risk acceptability of survivors,vertical intergovernmental relations of beneficiaries,split demand,multiple supply and demand points,and multi-mode transportation is formulated. The objectives are to minimize total weighted travel time at the upper level and maximize total weighted survivors’perceived satisfaction at the lower level. Then,a primal-dual algorithm based on complementary slackness constraints is designed by analyzing the characteristics of this mathematical model. Finally,a case study from Wenchuan earthquake is presented to illustrate the proposed model and solution strategies.