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Description冷链物流主要是指食品在生产到消费者食用前始终处于适宜的温度环境,以保障食品品质、降低流通过程中的损耗。冷链物流相比于传统物流而言是一项更复杂的系统性工程,受到政策和市场需求的影响呈现迅猛发展态势。但是,冷链物流企业长期以来因规模小、固定资产少、服务范围窄、服务规范性弱而发展困难重重,核心问题是资金的问题。政府引导和鼓励打造冷链物流产业园,推动产业园投资和建设主体打造平台,实现对园区内冷链企业的聚集效应并通过金融服务解决企业发展的资金问题。通过产融结合助力冷链物流企业发展,成为目前冷链物流行业发展的主要方式和未来趋势。

本研究聚焦冷链物流产业园金融服务助力冷链物流企业发展问题,主要研究内容包括:第一,基于产融结合理论,梳理冷链物流企业与产业园之间关系,从供需两侧探索冷链物流企业和产业园的金融服务的范围、类型和特点。第二,基于平台理论,构建冷链物流企业采纳产业园金融服务的研究模型,探索金融服务影响冷链物流企业的经营因素,分析冷链物流企业采纳产业园金融服务的因素和途径。第三,基于信息不对称理论,关切信息技术支持和知识分享在冷链物流企业采纳产业园提供金融服务过程中的调节作用。同时,梳理产业园提供金融服务可能面临哪些风险,制订冷链物流企业入驻园区的标准,防范风险。

本文运用实证研究方法,通过对国内18家冷链物流相关的产业园、物流园、冷链物流、商贸流通、金融等企业实地考察和专家访谈基础上,拟定问卷并对268家企业进行调查收集数据,使用结构方程模型进行假设检验。研究发现:金融服务的有形性、可靠性、移情性、经济性对冷链物流企业采纳产业园金融服务影响显著,而响应性的影响不显著。同时

信息技术支持和知识共享的调节作用不显著。最后,针对产业园吸引冷链物流企业提供金融服务、冷链物流企业采纳产业园金融服务的风险,提出防范策略措施。
ContributorsYang, Su (Author) / Shen, Wei (Thesis advisor) / Chen, Xinlei (Thesis advisor) / Gu, Bin (Committee member) / Arizona State University (Publisher)
Created2019
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Description
By matching a CEO's place of residence in his or her formative years with U.S. Census survey data, I obtain an estimate of the CEO's family wealth and study the link between the CEO's endowed social status and firm performance. I find that, on average, CEOs born into poor families

By matching a CEO's place of residence in his or her formative years with U.S. Census survey data, I obtain an estimate of the CEO's family wealth and study the link between the CEO's endowed social status and firm performance. I find that, on average, CEOs born into poor families outperform those born into wealthy families, as measured by a variety of proxies for firm performance. There is no evidence of higher risk-taking by the CEOs from low social status backgrounds. Further, CEOs from less privileged families perform better in firms with high R&D spending but they underperform CEOs from wealthy families when firms operate in a more uncertain environment. Taken together, my results show that endowed family wealth of a CEO is useful in identifying his or her managerial ability.
ContributorsDu, Fangfang (Author) / Babenko, Ilona (Thesis advisor) / Bates, Thomas (Thesis advisor) / Tserlukevich, Yuri (Committee member) / Wang, Jessie (Committee member) / Arizona State University (Publisher)
Created2018
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Description财富管理是一个高度信息不对称的行业,因此投资人需要尽可能减少自身的不确定来做投资决策,通过文献整理,本文发现通过建立信任来消除不确定性是很多投资人都会选择的帮助投资决策的方法。纵观历史,美国2007-2008年的金融危机也恰恰导致金融市场投资人对于理财机构信任的严重缺失,相同的情况也可能发生在中国财富管理市场,因此本文将此选作研究重点,希望深入研究财富管理公司投资人对理财师的信任来得到一系列结论。本文最终发现就平台和理财师相比,投资人更看重平台的信誉度。 投资人大多认为平台的信誉度要高于理财师的信誉度,但是这并不意味着理财师不重要。本文进一步的分析发现,多数投资人会和理财师建立起一种私人联系,且该私人关系有助于加强客户和平台的联系。投资人认为行业经验、为人诚恳,说话可信以及责任心是加强这种私人关系的重要因素。最后,投资人对于钜派平台的信任主要由对于理财师的信任来维持,同时对于理财师的信任主要来自与情感信任。本文的发现对财富管理平台具有战略意义。
ContributorsWu, Qimin (Author) / Shen, Wei (Thesis advisor) / Chang, Chun (Thesis advisor) / Zhu, Hongquan (Committee member) / Arizona State University (Publisher)
Created2019
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Description
The current study combines field study, survey study, and public financial reports, and conducts an in-depths comprehensive study of the cost of the global tire industry. By comparing the price and the total cost structure of standardized tire products, we investigate Chinese tire industry’s global competitiveness, especially in light of

The current study combines field study, survey study, and public financial reports, and conducts an in-depths comprehensive study of the cost of the global tire industry. By comparing the price and the total cost structure of standardized tire products, we investigate Chinese tire industry’s global competitiveness, especially in light of China’s fast increasing labor cost. By constructing a comprehensive cost index (CCI), this dissertation estimates the evolution and forecasts the trend of global tire industry’s cost structure. Based on our empirical analysis, we provide various recommendations for Chinese tire manufacturers, other manufacturing industries, and foreign trade policy makers.
ContributorsZhang, Ning (Author) / Zhu, Ning (Thesis advisor) / Shen, Wei (Thesis advisor) / Chen, Hong (Committee member) / Arizona State University (Publisher)
Created2015
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Description
Informal finance in this paper refers to the financing activities of individuals or households to borrow money through channels other than formal financial institutions such as commercial banks. Using data from China Household Finance Survey (CHFS) conducted by Southwestern University of Finance and Economics (SWUFE) and the People's Bank of

Informal finance in this paper refers to the financing activities of individuals or households to borrow money through channels other than formal financial institutions such as commercial banks. Using data from China Household Finance Survey (CHFS) conducted by Southwestern University of Finance and Economics (SWUFE) and the People's Bank of China, this paper employs Probit model to analyze the factors that may influence the financing needs of Chinese households and factors that influence their likelihood of obtaining loans from formal financial institutions versus from informal channels. Results show that household wealth, family structure, and household head’s characteristics are the major factors that influence their financing needs. Moreover, the results suggest that (a) richer families are more likely to obtain loans from formal financial channels while poorer families are more likely to do so from informal channels; (b) families with stronger social ties are more likely to obtain loans from formal financial channels, but this relationship is weaker in regions where the financial market is more competitive;and (c) the increase of formal financial services is positively related to the probability of households obtaining formal finance, but has no relationship with the probability of households obtaining informal finance. These findings have important implications for finance policy making.
ContributorsZhang, Linchao (Author) / Shen, Wei (Thesis advisor) / Chen, Xiaoping (Thesis advisor) / Liu, Jun (Committee member) / Arizona State University (Publisher)
Created2016
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Description
This thesis investigates whether mergers and acquisitions (M&As) help increase the competitive advantage and core competency of Chinese securities companies. Although M&As among Chinese securities companies were almost exclusively guided by the Chinese government in the earlier years, they have increasingly become more market-driven in recent years. Many large Chinese

This thesis investigates whether mergers and acquisitions (M&As) help increase the competitive advantage and core competency of Chinese securities companies. Although M&As among Chinese securities companies were almost exclusively guided by the Chinese government in the earlier years, they have increasingly become more market-driven in recent years. Many large Chinese securities companies have engaged in horizontal mergers, cross-industry mergers, and cross-border mergers to increase their market positions. However, there is little up-to-date evidence about how these market-driven M&As influence the competitive advantage and core competency of securities companies in China. I seek to fill this gap by conducting a systematic analysis about whether M&As increase the core competency of the acquiring companies using data collected over a five-year window from 2010 to 2014.

On the basis of prior research findings and the current situation of the Chinese securities industry, I first develop a theoretical model about the sources of competitive advantage for Chinese securities companies, and then compile a comprehensive list of observable indicators that can be used to assess a Chinese securities company’s core competency. Next, I conduct a quantitative analysis to assess the core competency and relative market positions of the leading Chinese securities companies using data from 2010 to 2014. Overall, the results suggest that market-driven M&As increases the core competency of the acquiring securities companies. I then conduct four in-depth case analyses to better understand the mechanisms through which M&As can help increase the acquiring firms' core competency. I conclude with a discussion of the findings and their implications for Chinese securities companies and the overseeing governmental agencies.
ContributorsWang, Lijuan (Author) / Shen, Wei (Thesis advisor) / Qian, Jun (Thesis advisor) / Liu, Jun (Committee member) / Arizona State University (Publisher)
Created2016
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Description自雇司机是公路货运司机中比例人数最多、最基层的一员,他们在公路物流行业中扮演着极为重要的角色,他们承担着各种来源的压力。本文以疫情前后按揭购买卡车的自雇司机为研究样本,基于本研究收集到的独特数据,研究发现自雇卡车司机在面临按揭压力时,倾向采取更为激进的经营及驾驶行为,表现为更少的休息天数、更长的工作时长以及更危险的高速驾驶行为,并在一系列稳健性检验中基本结论仍然存在;基于新冠疫情事件研究发现,新冠疫情带来的非预期性经济停摆和收入中断,导致疫情前的发生的按揭贷款的卡车司机面临更强的还款压力,在经济恢复后面对按揭压力更有可能采用激进的经营和驾驶行为;进一步,通过机制检验研究本文发现这种按揭压力主要表现为担心当前或者未来发生不能及时偿还按揭款。再者,基于人格性征和家庭支持的调节效应检验,本文发现神经质人格特征、谨慎尽责性人格特征以及工作压力感没有在按揭压力与自雇卡车司机激进的经营和驾驶选择上起到调节作用,这可能是自雇卡车司机面临的按揭压力都很大,个体性格特征很大程度无法缓和其压力感,而家庭的支持和家庭-工作平衡可以有效缓解自雇卡车司机面临按揭压力时提高工作时长和危险驾驶行为的倾向。 最后,本文设计一项随机对照干预实验,向自雇卡车司机发送短息或者微信,提醒他们避免疲劳驾驶和危险超速驾驶,然后观察发送短信微信前后自雇卡车司机经营及驾驶行为的变化,识别考察外界积极主动的关心和提醒能否起到相应的后果。本文发现对自雇卡车司机获得外部主动积极地的关心和提醒,在面临按揭压力时意识到简单地减少休息增加运营时长以及采用危险驾驶行为抢时间的策略可能给其带来很大的风险,从而相应地缓解对按揭压力的过度反应;进一步调节作用检验表明,短信干预实验在神经质和谨慎尽责性人格司机中起到更大的减缓作用,同时家庭支持较少时短信干预实现效应也更为明显。
ContributorsMa, Liqun (Author) / Shen, Wei (Thesis advisor) / Wu, Fei (Thesis advisor) / Zhang, Zhen (Committee member) / Arizona State University (Publisher)
Created2021
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Description中国改革开放以来经济高速发展,一部分人群快速积累了大量财富,迫切需要专业机构对其财富进行有效管理,激发了中国私人银行市场的蓬勃发展。本文利用M银行全部私人银行网点的客户资产配置数据,以省级行政单位为划分,从核心公共资源供给角度出发,探究地区公共资源财政支出对私人银行客户数量增长和资产配置的影响。本文通过实证研究发现:(1)在人均公共安全财政支出较高、人均公共教育财政支出较低的地区,即公共安全资源相对匮乏、公共教育资源相对丰富的地区,私人银行客户规模增速较快;(2)在人均公共安全财政支出较高,即公共安全资源相对匮乏的地区,高净值人群会积极配置流动性良好的银行存款类产品和保险类产品,同时会减少配置高风险、高收益的理财类产品和基金类产品;(3)在人均公共医疗卫生财政支出较高,即公共医疗资源相对匮乏的地区,高净值人群会积极配置银行存款类产品,同时减少保险类产品和理财类产品的配置比例;(4)在人均公共教育财政支出较高,即公共教育资源相对匮乏的地区,高净值人群会积极配置银行保险类产品和理财类产品,同时减少存款类产品的配置比例。
ContributorsMa, Ying (Author) / Shen, Wei (Thesis advisor) / Wu, Fei (Thesis advisor) / Wang, Tan (Committee member) / Arizona State University (Publisher)
Created2021
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Description随着科创板、注册制出台,企业间的竞争逐步从资源型竞争转向科技和技术的竞争,大量有知识、有文化、有理想、有技术的人才涌入社会,给科技发展、技术创新在政策、市场和人才层面提供了支撑、机遇和源动力,科技型创新企业大量涌现,形成趋势性上升行业。科技型创业企业多冠以“规模小、技术密集、高成长、高风险”的标签,在融资过程中困难重重,这些特点与风险投资(VC)“高风险、高回报”的特质不谋而合,VC机构还能给被投企业提供人才、信息、商业模式、政策法律咨询等增值服务,助力企业发展。引入VC走上市路径成为诸多科技型创业企业最优选择。 近些年VC行业在我国得到迅猛发展,IVC和CVC已成了助推我国科技型创业企业发展的主力军。由于IVC和CVC的组织架构、投资期限、资金来源、投资目标、投资经验、管理层薪资结构等方面存在着很大的不同。不同的投资模式势必会对被投企业的经营活动产生不同影响,本文基于总资产单位产出和投入为经济学逻辑,针对相关变量提出假设。 本文对我国中小板和创业板2013年以前上市的七个高新技术行业(5G通信、大数据、人工智能、软件服务、生物制药、新材料、医疗器械)共123家,以上市为起点的6年企业数据为基础。以IVC和CVC为自变量,以上市司龄、企业规模、行业控制、分红占净利润比为控制变量,以V/A、E/A、K/A和E/R为因变量,对IVC和CVC投入的科技型创业企业分别进行描述性统计、相关性分析和回归分析,验证IVC和CVC对被投企业的市场维度(V/A)、财务维度(E/A、E/R)、创新维度(K/A)的影响。试图从企业的角度出发,理清企业与VC的关系,为二级市场投资者提供一个投资决策视角。
ContributorsZhang, Mingpeng (Author) / Shen, Wei (Thesis advisor) / Jiang, Zhan (Thesis advisor) / Hu, Jie (Committee member) / Arizona State University (Publisher)
Created2021
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Description
In this study I investigate the organizational strategies that Chinese power generation companies may use to reduce the impact of coal price increases on their profits. Organizations are open systems in that no organization possesses all the resources that it needs and all organizations must obtain resources from their external

In this study I investigate the organizational strategies that Chinese power generation companies may use to reduce the impact of coal price increases on their profits. Organizations are open systems in that no organization possesses all the resources that it needs and all organizations must obtain resources from their external environments in order to survive. Resource dependent theory suggests that the most important goal of an organization is to find effective mechanisms to cope with its dependence on the external environments for resources that are critical to its survival. Chinese power generation companies traditionally rely heavily on coal as their raw materials, and an increase in coal price can have a significant negative impact on their profits. To address this issue, I first provide a systematic review of the resource dependence theory and research, with a focus on the strategies such as vertical integration, diversification, and hedging that organizations can undertake to reduce their dependence on the external environment as well as their respective benefits and costs. Next, I conduct a qualitative case analysis of the primary strategies the largest Chinese power generation companies have used to reduce their dependence on coal. I then explore a new approach that Chinese power generation companies may use to cope with increases in coal price, namely, by investing in an index of coal companies in the stock market. My regression analysis shows that coal price has a strong positive relation with the price of the coal company index. This finding suggests that it is possible for firms to reduce the negative impact of raw material price increase on their profits by investing in a stock market index of the companies that supply the raw materials that they depend on.
ContributorsSun, Min (Author) / Shen, Wei (Thesis advisor) / Liu, Jun (Committee member) / Pei, Ker-Wei (Committee member) / Arizona State University (Publisher)
Created2015