Expanding to outward foreign direct investment or not? A multi-dimensional analysis of entry mode transformation of Chinese private exporting firms

This research examines the factors determining whether or not exporting firms expand to outward foreign direct investment (OFDI) as part of their internationalisation strategy, using a recent survey of Chinese private-owned enterprises. We carry out a multi-dimensional analysis to investigate the impact of firm productivity, internal resources and the external environment on OFDI decisions, including both the decision to undertake OFDI and the volume of OFDI flows. It is found that productivity, technology-based capability, export experience, industry entry barriers, subnational institutions and intermediary institutional support affect firms’ OFDI decisions. The findings have important policy and managerial implications

Budget Feasible Mechanism Design: From Prior-Free to Bayesian

Budget feasible mechanism design studies procurement combinatorial auctions where the sellers have private costs to produce items, and the buyer(auctioneer) aims to maximize a social valuation function on subsets of items, under the budget constraint on the total payment. One of the most important questions in the field is "which valuation domains admit truthful budget feasible mechanisms with `small' approximations (compared to the social optimum)?" Singer showed that additive and submodular functions have such constant approximations. Recently, Dobzinski, Papadimitriou, and Singer gave an O(log^2 n)-approximation mechanism for subadditive functions; they also remarked that: "A fundamental question is whether, regardless of computational constraints, a constant-factor budget feasible mechanism exists for subadditive functions." We address this question from two viewpoints: prior-free worst case analysis and Bayesian analysis. For the prior-free framework, we use an LP that describes the fractional cover of the valuation function; it is also connected to the concept of approximate core in cooperative game theory. We provide an O(I)-approximation mechanism for subadditive functions, via the worst case integrality gap I of LP. This implies an O(log n)-approximation for subadditive valuations, O(1)-approximation for XOS valuations, and for valuations with a constant I. XOS valuations are an important class of functions that lie between submodular and subadditive classes. We give another polynomial time O(log n/loglog n) sub-logarithmic approximation mechanism for subadditive valuations. For the Bayesian framework, we provide a constant approximation mechanism for all subadditive functions, using the above prior-free mechanism for XOS valuations as a subroutine. Our mechanism allows correlations in the distribution of private information and is universally truthful.Comment: to appear in STOC 201

Inner and Inter Label Propagation: Salient Object Detection in the Wild

In this paper, we propose a novel label propagation based method for saliency detection. A key observation is that saliency in an image can be estimated by propagating the labels extracted from the most certain background and object regions. For most natural images, some boundary superpixels serve as the background labels and the saliency of other superpixels are determined by ranking their similarities to the boundary labels based on an inner propagation scheme. For images of complex scenes, we further deploy a 3-cue-center-biased objectness measure to pick out and propagate foreground labels. A co-transduction algorithm is devised to fuse both boundary and objectness labels based on an inter propagation scheme. The compactness criterion decides whether the incorporation of objectness labels is necessary, thus greatly enhancing computational efficiency. Results on five benchmark datasets with pixel-wise accurate annotations show that the proposed method achieves superior performance compared with the newest state-of-the-arts in terms of different evaluation metrics.Comment: The full version of the TIP 2015 publicatio

Recurrent Multimodal Interaction for Referring Image Segmentation

In this paper we are interested in the problem of image segmentation given natural language descriptions, i.e. referring expressions. Existing works tackle this problem by first modeling images and sentences independently and then segment images by combining these two types of representations. We argue that learning word-to-image interaction is more native in the sense of jointly modeling two modalities for the image segmentation task, and we propose convolutional multimodal LSTM to encode the sequential interactions between individual words, visual information, and spatial information. We show that our proposed model outperforms the baseline model on benchmark datasets. In addition, we analyze the intermediate output of the proposed multimodal LSTM approach and empirically explain how this approach enforces a more effective word-to-image interaction.Comment: To appear in ICCV 2017. See http://www.cs.jhu.edu/~cxliu/ for code and supplementary materia