DO PEERS AFFECT STUDENT ACHIEVEMENT? EVIDENCE FROM CANADA USING GROUP SIZE VARIATION

We provide the first empirical application of a new approach proposed by Lee (Journal of Econometrics 2007; 140 (2), 333–374) to estimate peer effects in a linear‐in‐means model when individuals interact in groups. Assumingsufficient group size variation, this approach allows to control for correlated effects at the group level and to solve the simultaneity (reflection) problem. We clarify the intuition behind identification of peer effects in the model. We investigate peer effects in student achievement in French, Science, Mathematics and History in secondary schools in the Province of Québec (Canada). We estimate the model using conditional maximum likelihood and instrumental variables methods. We find some evidence of peer effects. The endogenous peer effect is large and significant in Mathematics but imprecisely estimated in the other subjects. Some contextual peer effects are also significant. In particular, for most subjects, the average age of peers has a negative effect on own test score. Using calibrated Monte Carlo simulations, we find that high dispersion in group sizes helps with potential issues of weak identification. Copyright © 2012 John Wiley & Sons, Ltd.     

The Role of Performance Reporting System Characteristics for the Coordination of High-Cost Areas in Hospitals

This paper explores the role of a performance reporting regime’s characteristics for two non-financial performance measures that are commonly used in the management of operating theaters (OTs) in German hospitals. The performance measures are the on-time first case of the day starts and the percentage of deviations from the short-term OT plan. The characteristics studied are reporting detail, reporting method and reporting frequency. We find that the degree of detail that the reporting system provides on the causes of negative performance exerts a significant positive effect on both performance measures. The reporting method and frequency do not affect performance. We also study the effect of existing processual, organizational and governance-related problems on performance. We find that these problems exert a significant negative effect on performance but that performance can be improved by detailed reporting.     

Institutional investors' corporate site visits and aggressive financial reporting

This paper investigates the impact of institutional investors' corporate site visits on financial reporting aggressiveness. While prior research has shed light on the monitoring impact of institutional shareholding on firms' financial reporting practices, institutional investors' preference regarding financial reporting remains unclear. Using a sample of Chinese firms listed on the Shenzhen Stock Exchange from 2012 to 2019, we find that institutional investors' on-site visits significantly increase financial reporting aggressiveness of hosting firms. The on-site visit effect is more salient in firms that are more sensitive to the influence of institutional investors, for example, firms with a less powerful chief executive officer, financially constrained firms, and firms operating in competitive industries. Our study highlights that under a setting of weak minority shareholder protection such as in China, managers are likely to recognize revenue aggressively to please powerful shareholders who paid intensive attention to them.     

Attitudes towards different sources of executive appraisal: a comparison of Hong Kong Chinese and American managers in Hong Kong

This study examines the attitudes of three groups of managers in Hong Kong, namely, Hong Kong Chinese managers in local Chinese firms (HK/HK), Hong Kong Chinese managers in US firms (HK/US) and American managers in US firms (US/US), towards supervisory, peer, subordinate and multi-source appraisal of executive performance. The more recent perspective of crossvergence, within the convergence-divergence debate, provides the theoretical foundation for formulating the hypotheses. The findings indicate support for this new perspective of crossvergence. There is also evidence of the coexistence of all the three perspectives of convergence, divergence and crossvergence. The study found that the practice of supervisory appraisal is supported more by HK/US and US/US managers than by HK/HK managers. Furthermore, both HK/US and US/US managers are more supportive of subordinate evaluation than peer evaluation. Overall, the findings indicate that the traditional Chinese values may be more congruent with the notion of supervisory appraisal than with peer and subordinate evaluation. The study thus points out the importance of the compatibility of norms and beliefs regarding a management practice such as performance appraisal with the local national cultures in determining the acceptance and hence the transferability of that practice across countries.     

Closing the Gap Between Research and Practice in Health: Lessons from a clinical effectiveness initiative

Pressure to utilize research evidence in decisions about patient care and population health, so-called evidence-based medicine, has swept the health care systems of most industrial countries. In the UK, the attention of policy makers has recently turned from the production of more 'effectiveness information' to the more fundamental challenge of understanding the factors involved in influencing the attitudes and practices of health care professionals. This article seeks to contribute to this process by reporting the findings of an evaluation of a clinical effectiveness initiative established in Wales between 1996-9 (Locock et al . 1999). The study shows that a number of different factors are involved in improving the implementation of effectiveness information, including the strength of the evidence, and the role of peer influence. However it is the interaction of various elements rather than any single factor, which appears to be crucial. These findings are important not only for health but for informing future interventions across other parts of the public sector.     

The Impact of Financial Reporting Regulation on the Market Valuation of Reported Environmental Liabilities: Preliminary Evidence from US and Canadian Public Companies

This study investigates the economic consequences of four financial reporting regulations relating to environmental liability reporting in samples of 170 US and 156 Canadian public companies during the period 1984 to 1997. The study's purpose is to investigate the factors that make financial reporting regulation effective in enhancing the relevance and reliability of accounting information. Prior research provides the theory that financial reporting regulations impose costs on managers and create incentives for them to report accounting information that is relevant and unbiased. This study assesses these regulations' enforceability, which is viewed as arising from the regulator's power to enforce its regulations by sanctions or penalties. It tests whether the relation between market valuation and reported environmental liability accruals changes when the new regulations are enacted, and whether regulation with high enforceability has a more significant impact than regulation with low enforceability. This study uses a residual‐income valuation model to measure the valuation coefficient, or multiplier, on reported environmental liability accruals. Changes in this coefficient are used as indicators of changes in the market's assessment of the value relevance and bias of the reported accounting information. This study provides preliminary evidence indicating that financial reporting regulations issued by the securities market regulator and the accounting profession are associated with changes in the relation between market value and reported environmental liabilities in some cases, and suggests avenues for further international accounting research on the factors involved in financial reporting regulation's impact.     

The Rise of Individual Performance Pay

Existing empirical evidence suggests that individual performance pay is more prevalent in human‐capital‐intensive industries. We introduce a model that can contribute to explain this. In a repeated game model of relational contracting, we analyze the conditions for implementing peer‐dependent incentive regimes when agents possess indispensable human capital. We show that the larger the share of values that the agents can hold up, the lower is the implementable degree of peer‐dependent incentives. In a setting with complementary tasks, we show that although team‐based incentives are optimal if agents are dispensable, it may be costly, and, in fact, suboptimal, to provide team incentives when the agents become indispensable.     

Pains and gains of environmental management system certification for the sustainable development of manufacturing companies: Heterogeneous effects of industry peer learning

Environmental sustainability is a growing global concern. Environmental management systems (EMS) could be an effective strategic tool to help firms deal with their sustainable development. However, whether EMS certification pays off financially and how it takes effect can be debated. Thus far, these questions remain largely under‐researched. In particular, the effects of EMS certification on financial performance are inconclusive, and the reasons explaining the effects are underdeveloped. This study aims to enrich the current research by exploring the mediating and moderating roles from the perspective of cost‐efficiency trade‐offs to reveal how EMS certification affects financial performance. Applying a PROCESS procedure analysis and causal mediation analysis to a sample of 1,751 Chinese listed manufacturing firms from 2008 to 2016, this study shows that the effect of EMS certification on firms' financial performance is insignificant because their operating costs burden increases while their marketing efficiency and managerial efficiency improve. For the first time, this study demonstrates the moderating role of industry peer learning, as the mediating effects decrease with the growth of industry peer learning.     

Peer Performance Evaluation: Information Aggregation Approach

This paper studies how peer performance evaluation can elicit information on a group of workers when coworkers are competing for promotion. Although raters may have an incentive to game the system and free‐ride on others’ information, the firm can implement the optimal peer evaluation system that induces truth revelation and complements supervisory evaluation. Implications are also drawn for human resource management practices.     

国际学术期刊论文中英语转述动词研究

本研究基于西方学者Thompson&Ye,Thomas&Hawes和Hyland等人在学术论文转述动词领域的研究成果,选择中外学者在国际学术期刊上发表的市场学学科的20篇论文为语料,分析统计了转述动词的使用情况。虽然中国学者在转述动词的种类和使用频率上略逊色于英语本族语学者,但并没有本质的区别。这说明中国学者转述动词的使用已接近于本族语者的水平,得到了国际学术期刊的认可。     

Environmental,Social and Governance Reporting in China

What is the current state of environmental, social and governance (ESG) reporting and what is the relation between ESG reporting and the financial performance of Chinese companies? This study analyses corporate ESG disclosure in China between 2005 and 2012 by analysing the members of the main indexes of the biggest Chinese stock exchanges. After discussing theories that explain the ESG performance of firms such as institutional theory, accountability and stakeholder theory we present uni‐ and multivariate statistical analyses of ESG reporting and its relation to environmental and financial performance. Our results suggest that ownership status and membership of certain stock exchanges influence the frequency of ESG disclosure. In turn, ESG reporting influences both environmental and financial performance. We conclude that the main driver for ESG disclosure is accountability and that Chinese corporations are catching up with respect to the frequency of ESG reporting as well as with respect to the quality. Copyright © 2013 John Wiley & Sons, Ltd and ERP Environment     

Bayesian Estimation of Willingness‐to‐pay Where Respondents Mis‐report Their Preferences*

We introduce a modified conditional logit model that takes account of uncertainty associated with mis‐reporting in revealed preference experiments estimating willingness‐to‐pay (WTP). Like Hausman et al. [Journal of Econometrics (1988) Vol. 87, pp. 239–269], our model captures the extent and direction of uncertainty by respondents. Using a Bayesian methodology, we apply our model to a choice modelling (CM) data set examining UK consumer preferences for non‐pesticide food. We compare the results of our model with the Hausman model. WTP estimates are produced for different groups of consumers and we find that modified estimates of WTP, that take account of mis‐reporting, are substantially revised downwards. We find a significant proportion of respondents mis‐reporting in favour of the non‐pesticide option. Finally, with this data set, Bayes factors suggest that our model is preferred to the Hausman model.     

Evidence in development of sustainability reporting: a case of a developing country

Current development in social accounting presents an interesting phenomenon. Companies are increasingly engaging in sustainability initiatives and reporting their activities in annual reports, company websites and other media of communication. Unlike previous studies, which have mainly used ex post content analysis of annual reports or other published data to study the relationship between disclosure and possible determinants, this study starts with an interview with the local preparer before the data is triangulated to determine the significant possible determinants. The interview findings are interpreted through institutional theory for possible identification of determinants. Initially, the interview findings indicate that all three mechanisms of isomorphism, the coercive, the normative and the mimetic, contribute to Malaysian company sustainability reporting. However, the regression results prove that only a government linked company in the plantation industry, which is large in size, has a significant amount of sustainability reporting. Copyright © 2010 John Wiley & Sons, Ltd and ERP Environment.     

Reporting on sustainability and HRM: a comparative study of sustainability reporting practices by the world's largest companies

As a response to the growing public awareness on the importance of organisational contributions to sustainable development, there is an increased incentive for corporations to report on their sustainability activities. In parallel with this has been the development of ‘Sustainable HRM’ which embraces a growing body of practitioner and academic literature connecting the notions of corporate sustainability to HRM. The aim of this article is to analyse corporate sustainability reporting amongst the world's largest companies and to assess the HRM aspects of sustainability within these reports in comparison to environmental aspects of sustainable management and whether organisational attributes – principally country-of-origin – influences the reporting of such practices. A focus in this article is the extent to which the reporting of various aspects of sustainability may reflect dominant models of corporate governance in the country in which a company is headquartered. The findings suggest, first and against expectations, that the overall disclosure on HRM-related performance is not lower than that on environmental performance. Second, companies report more on their internal workforce compared to their external workforce. Finally, international differences, in particular those between companies headquartered in liberal market economies and coordinated market economies, are not as apparent as expected.     

Sustainability Development and the Quality of Assurance Reports: Empirical Evidence

There is a rising trend among companies to publish their sustainability or corporate social responsibility (CSR) reports. Assurance of these reports is a valuable voluntary tool to provide them with higher credibility. Nonetheless, the quality of assurance reports differs in practice and the objective of this paper is to provide evidence in this new area of research. Indeed, we are pioneers in developing an index to measure the quality of assurance reports. We choose the Spanish setting because it is the worldwide leading country as regards CSR reporting (KPMG, 2011; Sierra et al., 2012). We have found evidence on the determinants for CSR reporting posited by existing literature that have an impact on (a) the decision of companies to publish their CSR reports, (b) the decision to assure the CSR report or not and (c) the decision to hire the assurance services from an auditor or a consultant and the subsequent quality of the assurance report. Last but not least, our results from a sample of 161 CSR assurance reports evidence that assurance reports are of fairly acceptable quality, according to the index proposed. Furthermore, the value of the quality index is significantly higher if the assurance services are provided by an auditor (as opposed to a consultant) and if the CSR reporting company is larger. Copyright © 2012 John Wiley & Sons, Ltd and ERP Environment.     

大学英语听力教学中教师采用同伴观摩方法的案例研究

同伴观摩是近年来备受欧美教学界青睐的一种维持和促进教师专业发展的有效途径。然而,我国大部分研究者在前期研究中更关注同伴观摩在英语教学中的作用,很少关注其具体应用和实施。本文简单介绍了同伴观摩的特点和实施步骤,旨在通过同伴观摩的具体案例促进大学英语教师的专业发展。     

Culture and Accountants' Perceptions of Environmental Reporting Practice

This paper seeks to investigate and interpret the possible link between culture and the perceptions of accountants on corporate environmental reporting practices (ENRPs) on a two‐country basis, i.e. between Malaysia and Australia. Using Hofstede's (1980) and Gray's (1988) cultural value framework, the paper employs a qualitative approach through interviews conducted with corporate accountants in publicly listed companies in Malaysia and Australia. It is revealed that ENRPs in both countries are influenced by cultural values, in particular collectivism, high uncertainty avoidance, uniformity, conservatism and secrecy. Despite the fact that types of cultural and sub‐cultural dimension pertaining to reporting practice in Malaysia and Australia are similar, mixed findings are found when compared with national cultural values (Hofstede, 1980) and sub‐cultural values (Gray, 1988). The consistencies of cultural dimensions found in ENRP in these two countries and the orientation of the practice across nations indicate a promising move towards standardization and harmonization of successful implementation of environmental accounting and reporting. Copyright © 2013 John Wiley & Sons, Ltd and ERP Environment     

Where hukou status matters: analyzing the linkage between supervisor perceptions of HR practices and employee work engagement

This paper highlights the interaction between intended human resource (HR) practices as perceived by supervisors and status similarity between supervisors and employees as a key source of variation in employee work engagement among 298 employees reporting to 54 supervisors at a luxury Chinese hotel. Using a multi-level, process-oriented approach to examine the relationship between intended HR practices by supervisors and engagement as perceived by employees, we show (1) that the interaction of supervisor perceptions of HR practices and supervisor–subordinate hukou (place of origin) status similarity is positively related to employee reports of Leader–member exchange (LMX), HR practices and work engagement; (2) that the interaction of supervisor perceptions of HR practices and hukou status similarity influences employee perceptions of HR practices through LMX; and (3) that the interaction of supervisor perceptions of HR practices and hukou status similarity influences work engagement through employee perceptions of LMX and HR practices. Theoretical and practical implications are discussed.     

Accounting Discretion in Goodwill Impairments: UK Evidence

This study examines managers’ use of discretion in determining goodwill impairment losses following the mandatory adoption of IFRS 3 “Business Combinations,” and whether this discretion reflects opportunistic reporting by managers or the provision of their private information. Although IFRS 3 was issued to improve the accounting treatment for goodwill and provide users with more useful and value‐relevant information regarding the underlying economic value of goodwill, it has been criticized on the grounds of the managerial discretion inherent in impairment testing. Therefore, ex‐ante, it is unclear how the impairment‐only approach has affected the reporting of goodwill impairment losses. After controlling for economic factors, empirical results reveal that managers are exercising discretion in the reporting of goodwill impairments following the adoption of IFRS 3. Specifically, goodwill impairments are more likely to be associated with recent CEO changes, income smoothing and “big bath” reporting behaviors. However, the results also indicate that goodwill impairments are strongly associated with effective governance mechanisms suggesting that managers are more likely to be exercising their accounting discretion to convey their private information about the underlying performance of the firm rather than acting opportunistically. These inferences are robust to various modeling specifications and variable definitions, suggesting that IFRS 3 has provided managers with a framework to reliably convey their private information about future cash flows consistent with the IASB's objectives in developing the impairment standard.