请选择 进入手机版 | 继续访问电脑版

tag 标签: Industry经管大学堂:名校名师名课

相关帖子

版块 作者 回复/查看 最后发表
高价求The Structure of American Industry 文献求助专区 afork 2013-7-1 3 1431 chris_chow 2018-5-22 16:49:22
摩根斯坦利:2013年1月亚洲新兴市场投资策略(免费) attachment 行业分析报告 bigfoot0516 2013-1-30 4 2247 潭生.经济学笔记 2014-12-9 00:59:56
MS South African Platinum attachment 行业分析报告 sky12123 2014-5-16 0 2256 sky12123 2014-5-16 20:09:21
2013能源行业最新研报-德意志--Turning the corner attachment 行业分析报告 罗垚 2013-9-2 6 1672 糯米糊了 2014-1-29 06:05:29
2013 mock exam 里的疑难问题,求大神解答 金融类 chinawzgyf 2013-12-6 4 2748 chinawzgyf 2013-12-6 17:57:02
Andrew W.Lo :SYSTEMIC RISK AND HEDGE FUNDS attachment 金融学(理论版) delphy_crystal 2013-5-17 3 1352 vermouth86 2013-11-23 00:11:29
悬赏 外文1篇 - [!reward_solved!] attachment 求助成功区 xiaodoudou2079 2013-9-5 1 745 wfldragon 2013-9-5 20:48:54
悬赏 North American economic integration and industry location - [!reward_solved!] attachment 求助成功区 区域经济爱好者 2013-8-18 4 1674 Jessymannheim 2013-8-18 15:11:02
Ghana and Elephant Alliance Drafted Cooperation Agreement 世界经济与国际贸易 loveislovedxlm 2013-8-16 1 1928 Jessymannheim 2013-8-16 16:14:20
Stigler的Trend in employment in the service industry attachment 宏观经济学 chenzhij 2013-8-8 0 1790 chenzhij 2013-8-8 14:07:54
悬赏 Migrating from products to solutions: An exploration of system support in the UK - [悬赏 100 个论坛币] attachment 求助成功区 warsky 2013-7-25 1 1546 yingmickey 2013-7-25 10:46:09
悬赏 求文献:The electric vehicle industry and local economic development: prospects - [!reward_solved!] attachment 求助成功区 区域经济爱好者 2013-3-2 2 1432 dawanziwei 2013-7-16 12:43:12
【下载·马歇尔经典著作】Mashall·Elements of economics of industry attachment 产业经济学 microly 2013-7-15 0 1703 microly 2013-7-15 11:34:27
悬赏 SD一篇:An empirical study of employee loyalty, service quality and firm perform - [阅读权限 10]- [!reward_solved!] attachment 求助成功区 yinhezhiwang 2013-7-14 2 178 flywlc 2013-7-14 21:01:19
China Consumer Market - A closing window of opportunity (2013) attachment 行业分析报告 li_cherry 2013-6-27 0 926 li_cherry 2013-6-27 04:30:06
FRM part 2 reading: Stephen Brown,Trust and Delegation attachment CFA、CVA、FRM等金融考证论坛 delphy_crystal 2013-5-15 0 1596 delphy_crystal 2013-5-15 14:24:38
Lost in Thailand shakes up China's movie industry attach_img 真实世界经济学(含财经时事) dq19871223 2013-2-19 0 2046 dq19871223 2013-2-19 01:37:36
悬赏 SAGE文献:Measuring service quality in the travel and tourism industry - [!reward_solved!] attachment 求助成功区 husteconyy 2013-2-2 3 1135 husteconyy 2013-2-2 19:31:37
悬赏 Effects of decoupling of carbon dioxide emission by Chinese nonferrous metals in - [!reward_solved!] attachment 求助成功区 乖乖虎 2012-8-24 2 1850 乖乖虎 2012-8-24 22:01:16
20120821 Follow me: Italian industry All shook up 真实世界经济学(含财经时事) jigesi 2012-8-21 1 1369 liuruili0815 2012-8-21 08:48:10

相关日志

分享 What is big data?
science21 2014-9-22 02:43
Big data defined As far back as 2001, industry analyst Doug Laney (currently with Gartner) articulated the now mainstream definition of big data as the three Vs of big data: volume, velocity and variety1. Volume. Many factors contribute to the increase in data volume. Transaction-based data stored through the years. Unstructured data streaming in from social media. Increasing amounts of sensor and machine-to-machine data being collected. In the past, excessive data volume was a storage issue. But with decreasing storage costs, other issues emerge, including how to determine relevance within large data volumes and how to use analytics to create value from relevant data. Velocity. Data is streaming in at unprecedented speed and must be dealt with in a timely manner. RFID tags, sensors and smart metering are driving the need to deal with torrents of data in near-real time. Reacting quickly enough to deal with data velocity is a challenge for most organizations. Variety. Data today comes in all types of formats. Structured, numeric data in traditional databases. Information created from line-of-business applications. Unstructured text documents, email, video, audio, stock ticker data and financial transactions. Managing, merging and governing different varieties of data is something many organizations still grapple with.
12 次阅读|0 个评论
分享 information industry
tomorrowlee 2012-5-10 21:16
Since China initiated the reform and the opening-door policy, its information technology (IT) industry has scored a speedy development. Many people pin great hopes on the IT industry, hoping to take it as the primary driving force behind the development of China's high and new technology, and as a new growth area of the national economy. They share the view that the IT industry is now still in a start-up phase in developed countries, that the gap is not insurmountable if China now joins the competition, and that the government increases the intensity of its support for such an industry. They hope that China will be able to catch up with and even surpass developed nations in the development of most sophisticated IT industry, thus spurring the development of China's national economy as a whole and of its modernization. To catch up with and surpass developed countries has been a common aspiration of the many generations of Chinese since the Opium War. If developing the world's most sophisticated IT industry realizes these century-old aspirations, there is nothing left to desire. Indeed, in tandem with its economic and social development, China will have an increasingly greater demand for information services and increasingly higher requirements for it as well. IT can be used in China on a very large scale and is vital to increasing the competitive edge of the country's economy. But the IT industry involves a wide range of areas, and we must ask whether shall we have to, in the current development stage, compete with developed nations in all spheres of the IT industry, or whether we have options and should rather place emphasis on certain areas only? We must further ask what principles we shall follow in developing the IT industry and whether the principle of comparative advantage--namely, the development strategy of starting from labor-intensive products and industries and then upgrading products, technology, and the industrial structure according to the upgrading of endowment structure--is still valid in the new economy of global integration and information age. IT Industry vs. Traditional Industries IT and the information industry are considered the salient symbol of the knowledge economy. The information processing, exchange and storing service they provide streamline internal management, production organization, and sales, and substantially lower operational costs. China's existing industries, including traditional labor-intensive industries which is China’s current comparative advantage, should also vigorously use this new IT to reduce costs, improve their competitiveness, and increase their profitability. For example, in operations and management, the traditional textile industry would profit extensively from the use of computers and Internet technology instead of relying on traditional approaches in the management of inventories, information processing, and advertising. The era of the knowledge economy does not change the basic economic principles of cost and returns. So long as the application of a new type of technology to existing industries brings higher returns than the cost of adopting this technology (including the outlay for purchasing and learning this technology and the costs of abandoning and removing the old technology), we ought to actively apply it to existing industries. Therefore, regarding the question of applying IT to existing industries, the basic principle we should follow does not differ from the principles applicable to other new technology. Moreover, at a time when the IT industry is growing vigorously, domestic and global market demand in such non-IT traditional industries as food processing, clothing, and automobiles has not shrunk. We should opt for industries and occupy their domestic and international markets by relying heavily on our comparative advantage. How Should China Develop Its own IT Industry in the Era f the New Economy? This is a controversial question. To answer this question, we should analyze two aspects: one is the new industry that comes to exist because of the availability of IT; and the other involves the production of IT itself, including RD and manufacturing of IT products. As previously stated, given types of new technology can be applied to existing industries to improve their productivity. In addition, on occasion, new industries emerge as a result of applying this new technology. For instance, the invention of the steam engine gave rise to the railway transport industry; that of aircraft resulted in the aviation transport industry; and that of the telegram and telephone gave rise to the telecommunications industry. For the same reason, the application of IT, particularly IT as embodied in the Internet, has given rise to new commercial forms of B to B and B to C E-business. This has had a nearly revolutionary impact on advertising, sales, and the further spread of information. As is true of the comparison between a train and the traditional horse-drawn cart, this new commercial form is the same as the old commercial form in terms of function. Yet it provides at a lower cost faster and better service with more choices for consumers. This new commercial form has been growing by leaps and bounds in Europe and the United States. How should China deal with it? E-commerce involves a large economy of scale. Before reaching a certain scale, E-commerce requires a large amount of financial input, and cannot produce enough revenue. Only one or two companies can survive the fiery market competition and dominate the market in their area. Therefore, the development of E-commerce requires a huge input of funds and involves enormous risks as well. In a similar manner, the horse-drawn carts and sedans that were in use some 100 years ago seemed adequate for their purpose. The construction of a railway called for a great deal more money than the construction of a traditional road for horse-drawn carts and sedans. However, so long as the transport volume between two places reached a certain scale within a relatively short period in the future, construction of an inter-provincial or an interstate railway was not only economical and rational, but also promoted the development of the economies of the two places. China covers a vast territory. To develop an integrated national market, it requires low-cost information and commercial transaction means. E-commerce, with the Internet as carrier, greatly advances the development of China's integrated market. China ought to create conditions for attracting venture capital, and energetically expanding new industries such as the Internet and E-commerce. As for the industry that produces IT products, the industry itself can be divided into two parts, that is, hardware and software. The former can be further classified into research and development (RD), production of core chips and major components, and the assembly of end products. IT RD is currently concentrated in highly developed countries including the United States, Japan, and a number of European countries. However, with regard to the fabrication of major chips such as computer CPUs, in addition to those highly developed nations, a number of newly industrialized economies including the Republic of Korea (ROK), Malaysia and China's Taiwan Province play a considerable role. In IT production, developing nations usually assemble end products such as computers, keyboards, monitors, and manufacture shells and some simple electronic components and devices. What is being hotly disputed in China's academic and decision-making communities is whether China ought to compete with developed countries in the RD of IT's top and core technology. RD of IT's top and core technology are highly capital-intensive. In 1998, for example, RD spending by a few major IT companies was roughly as follows (IN US$ BILLIONS): Hewlett-Packard Company, 2.37; Intel, 2.67; IBM, 5.6; Compaq, 4.55; Hitachi, 4.53; North Telecom, 4.21; Ericsson, 3.55; NEG, 3.38; and Motorola, 3.06. After core technology has been developed, the capital input required for mass fabrication of the core chips is still enormous, but much smaller in comparison to RD. Taking computer CPU chips as an example, investment in each production line requires some one billion U.S. dollars. The assembly of end products and production of simple electronic components and devices are, relatively speaking, labor-intensive. A Tale of Two Companies: Samsung Electronics and TSMC Compared The layout of IT RD, chip fabrication, and the assembly of end products in countries of different development stages, reflect, in fact, the comparative advantages of these countries. When an economy decides on the development of the hardware part of its IT industry, comparative advantage remains a basic principle. In terms of development stage and comparative advantage, the Republic of Korea (ROK) is roughly the same as China's Taiwan Province. Comparing the performance of Samsung Electronics (the best-known IT company in the ROK), with that of Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC) (the most famous IT company in Taiwan), demonstrates this. The relative abundance of capital endowment of ROK is lower than that of U.S. and developed countries in Europe. Samsung Electronics concentrated with considerable success on developing memory chips that are one technological grade lower and their development requires less capital than the computer CPU chips, developed in US. In its corporate charter, TSMC explicitly stated that it would not do RD itself, rather it would fabricate the computer chips for major Chip developers, such as Intel, on OBM basis. Only during the last one or two years did it begin to develop a number of simple chips. In the technology ladder, TSMC is lower than Samsung. Nevertheless, in 1997, it had a turnover of NT$ 43.9 billion (about US$ 1.46 billion), a gross profit of NT$ 21.1 billion (about US$ 700 million), a net income of NT$ 17.9 billion (about NT$ 600 billion). TSMC’s total asset was NT$ 108.5 (about US$ 3.6 billion). Its earning-to-asset ratio (net earnings/total assets) was 16.5 percent. By contrast, in 1997, Samsung had a turnover of US$ 15.3 billion and a gross profit of US$ 4.8 billion. However, it needed to invest each year over US$ 1 billion on RD and paid a large amount of expenditures on management and sales, its net earnings was only US$ 102 million. Its investment scale was very large. In 1997, the net value of its fixed assets was US$ 5.06 billion. Plus other assets, its total assets were valued at US$ 16.1 billion. Samsung's earning-to-asset ratio was only 0.6 percent. The TSMC had a high earning-to-asset ratio and made investments by depending primarily on its own profit accumulation. With a low earning-to-asset ratio and a low capability to accumulate funds on its own, Samsung had to rely on means of borrowing for new investment, and had an debt to equity ratio of 223 percent in 1997. The development mode of other ROK enterprises is usually similar to that of Samsung. In seeking industries and products which are high in technology and whose capital intensity exceeds the comparative advantage determined by its endowment structure, these enterprises must rely on foreign debt to supplement the insufficiency of domestic capital. This results in a low profitability. In 1997, ROK's 30 major chaebols had a debt to equity ratio on average of 350 percent, and some had a debt to equity ratio as high as 1,200 percent (their profitability was as low as less than 0.5 percent). At the start of Asian financial crisis, foreign banks and investors noticed the low profitability of ROK's chaebols . They lost confidence in the chaebols ' ability to repay both principal and interest, and therefore refused to extend new loans and credits to them, beginning instead to withdraw their existing loans. Consequently, these chaebols were immediately placed on dangerous footing and the ROK's economy collapsed accordingly, giving rise to a crisis. The TSMC, on the other hand, adopted the standard Taiwan enterprises' development mode by selecting industry and technology according to Taiwan economy's comparative advantage, and based the upgrading of technology and products on the upgrading of comparative advantage. The technologies chosen by Taiwan enterprises were lower than those chosen by ROK's enterprises. The scale of Taiwan's largest enterprise was only one-sixteenth that of the ROK's largest enterprise. However, Taiwan enterprises normally had a high profitability and were virtually free of overseas debt. They were not easily subject to the impact of financial turmoil. In the East Asian financial crisis that began in 1997, the Taiwan economy was the only one of the "four little Asian dragons" that did not encounter a payment crisis and maintained a high economic growth rate (about five percent). In the area of IT industry, although Taiwan does not have big brand-name products, it has scored a rapid development. In the early 2000, its IT industry accounted for about 55 percent of its gross domestic product (GDP). Understanding China’s Comparative Advantages in IT Industry China remains a developing country with a relative scarcity of capital. In 1998, large and medium-sized Chinese enterprises spent a total of RMB 47.87 billion on technology development. Colleges and universities spent RMB 5.45 billion on RD. The sum was RMB 53.32 billion. The RD expenditures of Intel and IBM combined already exceeded China's total expenditure on RD. In 1998, China's central government had a total budget of RMB 312.6 billion, roughly matching the spending on RD by the 10-plus leading companies in the IT industry. Though the salary of Chinese scientists and researchers is lower than that of their colleagues in developed nations (thus reducing costs somewhat), developed nations have greater accumulations of experiences and know-how for research. Therefore, for the same research project, their probability of success is higher than that of ours. To achieve the same technological breakthroughs, China's spending would in all likelihood have to be as great. Moreover, the price changes of new IT products have followed the Moore's Law, which states that the price will drop by 50 percent every 18 months. Slightly slow development probably will make investments in RD wastage. China should not and cannot concentrate all its financial resources to compete at any cost with the major IT companies on RD. The accumulation of financial capital usually takes a very long time. Developed countries have gone through several hundred years of accumulation of such capital. There exists a wide gap in this regard between developing nations and developed ones. The gap cannot be narrowed within a short period of time. China's comparative advantage in the present stage lies in the abundance of its labor force and its relatively low price. Therefore, the positioning of the IT hardware industry in the current phase should lie in energetically developing low-end and assembled products. By this way, China can better accumulate capital and gradually realize the upgrading of products and technology along with the upgrading of China’s comparative advantage. The characteristics of software development and production in the IT industry are different from those of hardware development and production. Software RD requires mainly human capital, both the human capital of understanding the market trend and need, and the human capital of programming. Investment and equipment needed for production of the software products developed are, respectively, small and simple. There does not exist a wide gap in the human capital of programming between developed and developing nations. As long as developing countries pay attention to their education, they will be fully able to narrow the gap between them and developed nations of programming human capital within a short period of time. India, Israel, Ireland, and Chile have a large share of the global software market on the strength of their advantage in human capital of software programming. So long as China, a big country in terms of population, makes energetic efforts in its education undertaking, and tries to create a suitable environment for professionals to utilize their abilities fully, IT industry will be able to accomplish a great deal in software programming and Chinese software development. China's current disadvantage in competition on the international computer software market that takes English as the mainstay lies in an inadequate human capital of understanding the market trend and demand, making it difficult to independently develop saleable products. To overcome these difficulties, we can, as did India, Israel, Ireland, and Chile, step up cooperation with Microsoft and other software enterprises in developed countries. Of the US$ 3 billion worth of exports from India's software industry in 1998, 50 percent were products whose designs and specifications were provided by foreign software companies before being turned into programs by Indian designers for export, and 30 percent were new products developed according to contracts for export. The three billion U.S. dollars worth of exports contained almost no products with India’s brand name. IT features speedy upgrading and could be applied widely to traditional industries. Furthermore, the new Internet-based industry of E-commerce is showing vigorous development worldwide. Will developing the IT industry according to the principle of comparative advantage lead to the tragedy of causing China to depend on developed nations technologically, keeping its industrial structure backward forever, and causing China to lag behind developed nations forever in the economic development level? The above worry seems to be plausible. However, running counter to a country's comparative advantage to catch up with and surpass other countries industrially and technologically always results in more haste, less speed. The technological and industrial structure in which a country is the most competitive are determined by that country's factors endowment. To overtake the technological and industrial structure of developed nations, it is imperative to catch up with such countries in their factor endowment. China cannot win a competition with developed countries in capital-intensive products, yet it enjoys a tremendous advantage in labor-intensive products. The fact that Chinese light industrial products have almost monopolized the U.S. and European markets serves as a good example. If, on the other hand, a country goes against its factor endowment’s constraint to develop wishfully technology and products in which that country does not have comparative advantage, the government will have to employ all kinds of administrative interventions. The often-used policies include artificially lowering interest rates, exchange rates, and the prices of other factors to subsidize such enterprises, giving them monopoly status in the domestic market, and/or using high tariffs to prevent foreign goods from entering the domestic market to compete with the products of these enterprises. Moreover, absent the pressure of competition, the protected enterprises have a low motivation for making innovations, low efficiency, a low profitability, and a little surplus, and thus will not be able to assume the responsibility of increasing accumulation and upgrading the factor endowment structure. If the limited capital in the economy was used to develop capital-intensive industries, the labor-intensive industries, in which the economy has comparative advantage, would have little capital to develop. The development of labor-intensive industries would be hindered, reducing their market shares, profits, and surplus, and their contributions to the upgrading of endowment structure. As a result, this development mode will inevitably retard the overall upgrading of the technological and industrial structure of an entire economy, and render it extremely difficult to achieve sustained economic development. Viewing the economic practices in various other countries after World War Two, we see that most developing nations (including socialist countries) pursued the strategy of prioritizing the development of heavy industry and the strategy of import substitution whose capital intensity ran counter to its comparative advantage. All countries that did so ended in failure and had to change their strategies. Japan and the "four little Asian dragons" are exceptions. After World War Two, these countries first developed textile, light processing, and other labor-intensive industries suited to their comparative advantages as a way of accumulating capital. Then, with the upgrading of the factor endowment, they gradually developed capital- and technology-intensive industries such as iron and steel, shipbuilding, automobiles, and electronics. As a result, they became the only newly industrialized economies that had really narrowed the gap with developed nations. Unfortunately, since the late 1970s, the ROK gradually moved to adopt the strategy of overtaking and surpassing developed countries, and the government was keen on assisting chaebols to develop industries whose capital intensity exceeded the comparative advantage determined by their factor endowment structure. Consequently, for producing similar products, their costs were higher than the enterprises in developed countries. They had a low profitability in market competition, and even encountering heavy losses and huge amounts of debt. When domestic capital was insufficient and huge amounts of foreign debts were accumulated, the ROK could not avert an adverse domino effect amidst the Asian financial crisis, causing extremely serious damage to the development of its economy. China’s stage of development remains very low, and people are prone to impatience. However, economic development has its own laws, and it will not do to help the shoots grow by pulling them upward. The most pressing task for us at present is to choose China's industries according to the principle of comparative advantage to enhance its competitiveness, and increase profits, surplus, and accumulation, and accelerate the upgrading of factor endowment structure. Meanwhile, it is imperative to speed up the development of education and cultural undertakings, to try to improve the scientific and cultural quality of the entire Chinese nation, and to expedite the accumulation of human capital. In the development of the IT industry, China should also follow the principle of comparative advantage by developing software and those part of hardware in which China has a comparative advantage. China should digest and absorb fairly mature and advanced foreign information technology, and transform it and enable it to provide better information service to China's social and economic development. We should let IT penetrate into all sectors of the national economy so as to improve the efficiency and competitive edge of various Chinese industries with a comparative advantage rather than being bent on developing a few top and capital-intensive techniques and products. All these figures are taken from the financial statements of those companies from their web sites. The fact that Samsung focuses on the RD of memory chips instead of CPU chips indicates that Samsung’s decision has taken Korea’s comparative advantage into consideration. Yifu Lin, “The Asian Financial Crisis: Causes and Long-term Implication,” Paper prepared for “Manila Social Forum: the New Social Agenda for East, Southeast, and Central Asia”, joint ADB-World Bank conference to be held in Asian Development Bank, Manila, Philippines, on 9-12 November 1999. L. Dossani “India’s Hi Tech Development and Venture Capital,” Economic and Social System Comparison ( Jingji yu Shehui Tizhi Bijiao), 2000, No. 2, pp. 35-43. For further discussion, please see Lin Yifu, Cai Fang, and L Zhou, The China Miracle: Development Strategy and Economic Reform, revised and updated version, Shanghai People’s Press and Shanghai Sanlian Press, 1999, chapter 4.
11 次阅读|0 个评论

京ICP备16021002-2号 京B2-20170662号 京公网安备 11010802022788号 论坛法律顾问:王进律师 知识产权保护声明   免责及隐私声明

GMT+8, 2024-3-29 14:11