Matching Items (10)
Description
This thesis presents a model for the buying behavior of consumers in a technology market. In this model, a potential consumer is not perfectly rational, but exhibits bounded rationality following the axioms of prospect theory: reference dependence, diminishing returns and loss sensitivity. To evaluate the products on different criteria, the analytic hierarchy process is used, which allows for relative comparisons. The analytic hierarchy process proposes that when making a choice between several alternatives, one should measure the products by comparing them relative to each other. This allows the user to put numbers to subjective criteria. Additionally, evidence suggests that a consumer will often consider not only their own evaluation of a product, but also the choices of other consumers. Thus, the model in this paper applies prospect theory to products with multiple attributes using word of mouth as a criteria in the evaluation.
ContributorsElkholy, Alexander (Author) / Armbruster, Dieter (Thesis advisor) / Kempf, Karl (Committee member) / Li, Hongmin (Committee member) / Arizona State University (Publisher)
Created2014
Description2020年，中国经济总量首次突破百万亿大关，位居全球经济总量排名第二，成为全球经济唯一正增长的经济体，实现了中国“增长奇迹”。但是，近年来企业普通员工收入的增长速度远低于社会经济发展的增长速度。二十一世纪是人才竞争的时代，企业转型升级发展的关键在于员工的自主创新能力。根据薪酬激励理论，企业为员工支付更高的薪酬可以调动员工的工作热情和积极性，增强员工的自主创新能力，提高企业创新绩效和企业价值。因此，本文试图研究员工薪酬与企业价值之间的关系，并探索创新绩效是否在其关系中起到中介效应作用。本文通过回顾和梳理国内外有关员工薪酬、创新绩效和企业价值三者关系的相关文献，结合该领域国内外学者的研究经验，以我国科创板上市的214家公司为本文研究的样本。在理论分析和经验研究的基础上，得出以下研究结果：
（1）在科创板上市公司的全样本中，回归结果发现，员工薪酬与企业价值呈显著正相关，员工薪酬与企业创新绩效呈显著正相关，创新绩效与企业价值呈显著正相关，创新绩效在员工薪酬与企业价值的关系中具有中介效应的作用。
（2）区分了企业产权性质后，在民营企业的样本组中，其回归结果发现与全样本组的回归结果基本一致。在非民营企业的样本组中，员工薪酬与创新绩效和企业价值的系数虽为正，但系数的P值并不显著，说明员工薪酬对创新绩效和企业价值都具有正向的激励作用，但不显著；创新绩效对企业价值具有正向的促进作用，但不显著；创新绩效在员工薪酬对企业价值的关系中不具有中介效应，而是起到了遮掩效应的作用。
（3）区分了企业经营所在地后，在非一线城市企业样本中，其回归结果发现与全样本的回归结果基本一致。在一线城市企业样本中，回归结果发现，员工薪酬的系数虽然为正，但P值不显著，说明员工薪酬对创新绩效和企业价值都具有正向的激励作用，但不显著；创新绩效与企业价值呈显著正向相关；创新绩效在员工薪酬对企业价值的关系中起到了遮掩效应。
ContributorsJin, Jian (Author) / Huang, Xiaochuan (Thesis advisor) / Chang, Chun (Thesis advisor) / Li, Hongmin (Committee member) / Arizona State University (Publisher)
Created2022
Description本文以消费者认知理论、马斯洛需求层次理论、品牌价值理论为理论基础，通过分析感知质量的构成维度，从感知外在质量和内在感知质量两个方面构建感知质量的评价体系，本文试图以国酒——茅台为例，梳理感知质量对感知价值及品牌溢价的影响机理，构建研究理论框架，提出研究假设，深入探究三者的作用关系，为现代企业提供一定的指导。从实证结果来看，本文使用结构方程模型对感知外在质量、感知内在质量、感知价值和品牌溢价四个潜在变量之间相互关系进行回归分析。正式进行回归之前，对初始数据和模型进行描述性统计、信效度检验、相关性分析判断数据和模型之间的拟合度和适配度情况，再根据MI修正指数和路径系数显著检验对模型进行调整，确定模型计算结果处于可接受水平。从模型回归结果来看，感知质量对品牌溢价的主要路径是“感知外在质量——感知价值——品牌溢价”，而感知内在质量对感知价值和品牌溢价皆无显著影响，且品牌溢价不受感知内在质量和感知外在质量的直接显著影响，因此判断感知价值在感知质量与品牌溢价之间存在一定程度的中介效应，并通过中介效应分析确定感知价值在模型中充当中介变量，存在显著的中介效应，从中可以看出白酒消费者主要是根据白酒的感知外在质量对感知价值的影响进而影响品牌溢价。而对于饮酒经验和健康关注两个要素，根据调节效应的回归分析结果，饮酒经验在“感知内在质量—感知价值”和“感知内在质量—品牌溢价”的路径中的调节效应为显著，且皆为负向调节作用；健康要素对于感知内在质量和外在质量对感知价值和品牌溢价的关联关系中皆存在一定程度的调节效应，且皆为正向效应。而在针对四个不同酒种的分群组回归中，四种白酒的路径系数及显著性都有所不同，主要表现在感知内在质量对感知价值的影响路径上，从回归结果来看，茅台迎宾酒和飞天茅台与习酒和茅台醇在路径系数和显著性明显不同，可以看出当白酒质量较高或较低时，感知内在质量对感知价值的影响并不显著。
ContributorsXiang, Jian (Author) / Li, Hongmin (Thesis advisor) / Shi, Weilei (Thesis advisor) / Dong, Xiaodan (Committee member) / Arizona State University (Publisher)
Created2022
Description中国大陆证券市场上的Ａ、Ｂ股市场，是世界独特的分割市场，其中，双重上市公司A、B股（以下简称AB股），同股同权，但B股相对A股价格长期折价，被称为“Ｂ股难题”（B Share Puzzle）, 这是国际资本市场上的一个热点问题，此相关问题研究也一直延续。本文尝试研究中国政府出台的对股市长期发展进行调节的政策与B股折价之间的关系，通过对AB股发展历史的回顾，梳理出二个对AB股长期发展干预和调节的政策，即2001年2月中国政府允许中国大陆居民投资B股（简称政策一）和2005年4月29日开始的中国证券市场股权分置改革（简称政策二），并在此基础上，运用计量统计方法实证分析，研究发现中国政府出台的对股市长期发展进行调节的政策一、政策二与B股折价率有显著相关性，同时政策的干预和调节是分别有针对性进行的，使得B股折价率变化在政策影响下，通过A股价格或者B股价格的显著变化而实现。另外发现，B股平均折价率具有波动聚集特性，有小幅波动和均值回归特点，具有可预测性。
ContributorsLiu, Li (Author) / Li, Hongmin (Thesis advisor) / Zhang, Jie (Thesis advisor) / Chen, Hui (Committee member) / Arizona State University (Publisher)
Created2023
Description本研究以中小型企业在全球价值链中的转型升级为聚焦，主要通过案例分析的方式，选取代表性企业欣威科技和超俊科技，提出“动态整合能力”的概念，发展了企业家精神理论、全球价值链理论、动态能力理论和企业间合作理论，对于中小型企业的战略转型升级具有实践借鉴价值。在研究方法上，研究针对中小型企业如何在全球价值链中转型升级进行回应，通过参与式观察、深度访谈获取数据与资料，并通过欣威科技与超俊科技的案例分析厘清脉络，以期对于全球价值链理论和动态能力理论有所贡献。
在研究结论上，本研究认为，中小型企业在全球价值链攀登中，应注重发展动态整合能力，密切跟进新技术运用和企业间合作，基于创始人专业背景资源拓展自身发展的空间。
在研究贡献与研究意义上，本研究探索中小型企业战略转型的驱动因素和升级路径，实质上是在全球价值链发展到新的阶段的必要命题。首先，研究聚焦的对象是中小型企业，中小型企业具有自身的特点和问题；其次，全球价值链和国内兼容打印耗材行业的发展均到了一个新的阶段，面临着一定的瓶颈，也亟待取得转型升级。因此，深入探索、挖掘和剖析中小型企业战略转型的驱动因素和升级路径，借鉴并拓展全球价值链理论、动态能力理论和企业间合作理论，为提升中小型企业在全球价值链发展中应对的能动性，在理论延伸和实践指导上均具有重大意义。
ContributorsZhao, Zhixiang (Author) / Li, Hongmin (Thesis advisor) / Shi, Weilei (Thesis advisor) / Wang, Yimin (Committee member) / Arizona State University (Publisher)
Created2023
Description全球数字经济高速发展，信息科技时代，面对新形势、新问题，企业的数字化转型升级势在必行，为了提升企业综合竞争力，利用先进的科学技术在服务创新、产品创新、渠道创新、风险控制、精细化管理方面加强数字化水平，既是顺应时代发展的必然要求也是企业信息化发展必经的阶段。员工作为数字化技术的使用者和创造者，推动员工数字化转型成为企业发展不可缺少的重要组成部分，在当今复杂多变的商业环境中，动态多元的工作内容和特征要求员工具备更多的专业技能，结合实际的业务经验，可能更大程度上激发员工自身创造力，为企业数字化转型提供方向和建议。本文以大型物流公司——深圳市柏威国际物流有限公司为研究对象，从员工感知的角度，围绕国际物流企业数字化转型对员工绩效影响这一主题解决以下问题：从理论和企业实践的角度，分析并构建企业数字化转型对员工绩效的影响模型，发掘可能存在的调节因素；完善调查量表，编制调查问卷，对模型中的各要素进行准确刻画；利用问卷调查和结构方程模型的实证结果进行分析，检验柏威目前数字化转型水平和成效，提出合理的转型建议。
研究发现，与企业主要业务直接相关的核心员工感知的、以数字化资源和数字化能力为主要表现的企业数字化发展水平对员工绩效具有正向影响，数字化资源和数字化能力均对员工绩效有直接的影响，同时，数字化资源和数字化能力匹配程度越高，企业数字化水平越高，对员工绩效提升的影响越大；从业务实践角度出发，企业数字化对员工绩效的影响以提升包含业务洞察力和协调决策力的员工能力为中介，其中数字化与业务的匹配性能显著调节企业数字化对员工能力的影响；反映行业大环境的业务不确定性无法对企业数字化促进员工绩效起到调节作用。深圳柏威国际物流有限公司当前数字化转型进程中，企业对数字化资源的开发水平较高，但数字化能力水平不足，难以匹配数字化资源水平，数字化资源和数字化能力水平之间的差异降低了企业数字化对员工绩效的促进作用，大力提升企业数字化能力是当前阶段数字化转型的主要方向。
ContributorsWang, Chaofeng (Author) / Li, Hongmin (Thesis advisor) / Shi, Weilei (Thesis advisor) / Sun, Tianshu (Committee member) / Arizona State University (Publisher)
Created2023
Description
Agricultural supply chains are complex systems which pose significant challenges beyond those of traditional supply chains. These challenges include: long lead times, stochastic yields, short shelf lives and a highly distributed supply base. This complexity makes coordination critical to prevent food waste and other inefficiencies. Yet, supply chains of fresh produce suffer from high levels of food waste; moreover, their high fragmentation places a great economic burden on small and medium sized farms.
This research develops planning tools tailored to the production/consolidation level in the supply chain, taking the perspective of an agricultural cooperative—a business model which presents unique coordination challenges. These institutions are prone to internal conflict brought about by strategic behavior, internal competition and the distributed nature of production information, which members keep private.
A mechanism is designed to coordinate agricultural production in a distributed manner with asymmetrically distributed information. Coordination is achieved by varying the prices of goods in an auction like format and allowing participants to choose their supply quantities; the auction terminates when production commitments match desired supply.
In order to prevent participants from misrepresenting their information, strategic bidding is formulated from the farmer’s perspective as an optimization problem; thereafter, optimal bidding strategies are formulated to refine the structure of the coordination mechanism in order to minimize the negative impact of strategic bidding. The coordination mechanism is shown to be robust against strategic behavior and to provide solutions with a small optimality gap. Additional information and managerial insights are obtained from bidding data collected throughout the mechanism. It is shown that, through hierarchical clustering, farmers can be effectively classified according to their cost structures.
Finally, considerations of stochastic yields as they pertain to coordination are addressed. Here, the farmer’s decision of how much to plant in order to meet contracted supply is modeled as a newsvendor with stochastic yields; furthermore, options contracts are made available to the farmer as tools for enhancing coordination. It is shown that the use of option contracts reduces the gap between expected harvest quantities and the contracted supply, thus facilitating coordination.
This research develops planning tools tailored to the production/consolidation level in the supply chain, taking the perspective of an agricultural cooperative—a business model which presents unique coordination challenges. These institutions are prone to internal conflict brought about by strategic behavior, internal competition and the distributed nature of production information, which members keep private.
A mechanism is designed to coordinate agricultural production in a distributed manner with asymmetrically distributed information. Coordination is achieved by varying the prices of goods in an auction like format and allowing participants to choose their supply quantities; the auction terminates when production commitments match desired supply.
In order to prevent participants from misrepresenting their information, strategic bidding is formulated from the farmer’s perspective as an optimization problem; thereafter, optimal bidding strategies are formulated to refine the structure of the coordination mechanism in order to minimize the negative impact of strategic bidding. The coordination mechanism is shown to be robust against strategic behavior and to provide solutions with a small optimality gap. Additional information and managerial insights are obtained from bidding data collected throughout the mechanism. It is shown that, through hierarchical clustering, farmers can be effectively classified according to their cost structures.
Finally, considerations of stochastic yields as they pertain to coordination are addressed. Here, the farmer’s decision of how much to plant in order to meet contracted supply is modeled as a newsvendor with stochastic yields; furthermore, options contracts are made available to the farmer as tools for enhancing coordination. It is shown that the use of option contracts reduces the gap between expected harvest quantities and the contracted supply, thus facilitating coordination.
ContributorsMason De Rada, Andrew Nicholas (Author) / Villalobos, Jesus R (Thesis advisor) / Griffin, Paul (Committee member) / Kempf, Karl (Committee member) / Wu, Teresa (Committee member) / Arizona State University (Publisher)
Created2015
Description房地产行业高杠杆的特征使其容易受到外部经济、政策环境变化的冲击，而在疫情席卷全球、国内经济增速放缓的当下，房地产作为中国经济压舱石的地位更加突出，房地产企业有必要针对潜在的全球性金融危机做出应对预案，尤其需要重新审视和评估自身的资本结构和财务水平。基于以上背景，本研究将探究房地产企业在金融危机背景下的最优资本结构，该最优资本结构将有利于企业在金融危机时期正常发展、维持企业的行业竞争优势。为探究金融危机如何影响房地产企业的资本结构，本研究分别以金融危机爆发时房地产企业的资本结构为研究时期与对象，进行定量研究与典型房企案例的定性研究。本研究选取了近30家在境内或香港上市的大陆房地产公司，以及多家海外上市房地产公司为实证研究对象，从多个不同的维度收集金融危机时期上市房企的财务、经营及市场环境指标，运用多元线性回归模型研究2008年金融危机时期，不同资本结构、不同产权性质和不同规模对房企财务表现的影响。最后，结合上述研究成果，本文对现阶段旭辉集团的资本结构合理度进行压力测试，再对测试结果做出评估，为旭辉集团如何在金融危机时期改进资本结构提供可行的实施方案。本文主要结论有三点：第一，为抵御金融危机的冲击，房地产企业需要保持健康的资本负债结构，保证充沛的现金流、高速的资金周转率，并且合理地规避风险，才能顺利度过金融危机的寒冬；第二，金融危机中，房企资产负债率越高、短期负债比越低、流动资产比例越高、净负债率越高、有息负债率越低，其托宾Q值越高，资产负债率和净负债率对财务表现影响与原有假设不符合，主要原因①两个指标包含了预收账款以及现金因素，行业快速发展期，房企快速销售产生的预售账款以及非现金债务助推了企业快速发展。②行业在快速发展期，高负债和高土储在持续量价提升的背景下，掩盖了行业若进入平稳期的高负债风险。③在此背景下，估值逻辑更多地考虑成长性、对风险的关注度不足，也使得中小房企更容易获得成长溢价。金融危机与非金融危机时期对比，相对于民营企业，国有房地产企业的财务表现更稳健；第三，现金营运指数、长期债务与营运资金比、销售现金比率对旭辉控股资本结构的影响较大，在设定重度压力情境下，中国房企面临的潜在财务压力较大，未来需要适度调低负债比例，加强现金流管理，包括审慎投资拿地、降低投资失误率，积极拓展收入来源、增加更多有稳定现金流的业务等，应对可能出现的金融危机、保证企业长期健康发展。
ContributorsLin, Feng (Author) / Li, Hongmin (Thesis advisor) / Chang, Chun (Thesis advisor) / Li, Xianglin (Committee member) / Arizona State University (Publisher)
Created2021
Description
In the first chapter, I consider a capacity and price bounded profit maximization problem in which a firm determines prices of multiple substitutable products when the supply or capacity of the products is limited and the prices are bounded. This problem applies broadly to many pricing decision settings such as for hotel rooms, airline seats, fashion, or other seasonal retail products, as well as any product line with shared production capacity. In this paper, I characterize structural properties of the constrained profit maximization problems under the Multinomial Logit (MNL) model and the optimal pricing solutions, and present efficient solution approaches. In the second chapter, I consider a data-driven profit maximization problem in which a firm determines the prices of multiple substitutable products. This problem applies broadly to many pricing decision settings such as for hotel rooms, airline seats, fashion, or other seasonal retail products. A typical data-driven optimization problem takes a two-step approach of parameter estimation and optimization for decisions. However, this often returns a suboptimal solution as the estimation error due to the variability in data impacts the quality of the optimal solution. I present the relationship between estimation error and quality of the optimal solution and provide a possible way to reduce the impact of the error on the optimal pricing decision under the MNL model. In the last chapter, I consider a facility layout design problem of a semiconductor fabrication facility (FAB). In designing a facility layout, the traditional approach has been to minimize the flow-weighted distance of materials through the automated material handling system (AMHS). However, distance focused approach sometimes yields one major issue, traffic congestion, that there is a question if it is truly a good criterion to design a layout. In this study, I try to understand what makes such congestion by analyzing the system dynamics and propose another approach with a concept of ``balancing the flow" that focuses more on resolving the congestion. Finally, I compare the performance of the two methods through the simulation of semiconductor FAB layouts.
ContributorsYU, GWANGJAE (Author) / Li, Hongmin (Thesis advisor) / Webster, Scott (Thesis advisor) / Fowler, John (Committee member) / Arizona State University (Publisher)
Created2021
Description
Ramping up a semiconductor wafer fabrication facility is a challenging endeavor. One of the key components of this process is to schedule a large number of activities in installing and qualifying (Install/Qual) the capital intensive and sophisticated manufacturing equipment. Activities in the Install/Qual process share multiple types of expensive and scare resources and each activity might potentially have multiple processing options. In this dissertation, the semiconductor capital equipment Install/Qual scheduling problem is modeled as a multi-mode resource-constrained project scheduling problem (MRCPSP) with multiple special extensions. Three phases of research are carried out: the first phase studies the special problem characteristics of the Install/Qual process, including multiple activity processing options, time-varying resource availability levels, resource vacations, and activity splitting that does not allow preemption. A modified precedence tree-based branch-and-bound algorithm is proposed to solve small size academic problem instances to optimality. Heuristic-based methodologies are the main focus of phase 2. Modified priority rule-based simple heuristics and a modified random key-based genetic algorithm (RKGA) are proposed to search for Install/Qual schedules with short makespans but subject to resource constraints. Methodologies are tested on both small and large random academic problem instances and instances that are similar to the actual Install/Qual process of a major semiconductor manufacturer. In phase 3, a decision making framework is proposed to strategically plan the Install/Qual capacity ramp. Product market demand, product market price, resource consumption cost, as well as the payment of capital equipment, are considered. A modified simulated annealing (SA) algorithm-based optimization module is integrated with a Monte Carlo simulation-based simulation module to search for good capacity ramping strategies under uncertain market information. The decision making framework can be used during the Install/Qual schedule planning phase as well as the Install/Qual schedule execution phase when there is a portion of equipment that has already been installed or qualified. Computational experiments demonstrate the effectiveness of the decision making framework.
ContributorsCheng, Junzilan (Author) / Fowler, John W (Thesis advisor) / Kempf, Karl (Thesis advisor) / Mason, Scott J. (Committee member) / Zhang, Muhong (Committee member) / Arizona State University (Publisher)
Created2015