Common ownership and executive pay-for-performance sensitivity: Evidence from China

This study focuses on the impact of common ownership on executive pay-for-performance sensitivity using a sample of A-share listed firms in China from 2008 to 2020. We find common ownership significantly improves executive pay-for-performance sensitivity and plays a monitoring and governance role. Meanwhile, the impact of common ownership on executive pay-for-performance sensitivity is more significant in non-state-owned firms (non-SOEs) and when a firm faces a highly competitive product market. The mechanism tests indicate that common ownership affects executive pay-for-performance sensitivity through the information and governance mechanisms. Further analyses show that the portion of compensation explained by common ownership significantly enhances future firm performance. Overall, our findings validate the positive role of common ownership in corporate governance.     

国土空间规划背景下市县生态保护重要性 评价实践探索——以武汉市江夏区为例

开展生态保护重要性评价，从空间上明确生态保 护的重要区域是生态保护政策落实的关键。“双评价”指南 中的生态保护重要性评价主要针对省级尺度，缺乏市县尺度 的修正和细化方法。以武汉市江夏区为例，探索了国土空间 规划背景下市县生态保护重要性评价方法：基于江夏区地域 特征，选择水土保持、水源涵养、生物多样性维护、水土流 失敏感性和内涝风险构建评价指标体系；从“物种”维度优 化生物多样性维护评价方法并利用InfoWorks ICM水动力 模型探索内涝风险评价方法；综合单项评价结果得到初判结 果；结合政策性生态保护线、自然保护地和重要自然要素修 正初判结果。结果表明：江夏区生态保护极重要、重要空 间面积分别为565和220km2 ，占区域总面积的34.2%和 13.3%。     

The effectiveness of environmental interpretation at resource‐Sensitive tourism destinations

The process of appropriate visitor management is an integral part of sound tourism management. Visitor management includes the development and implementation of rules and regulations with respect to visitor activity, which in turn provides the guidelines for visitors. On the other hand, it also aims to create enjoyable visitor experiences in the hope that visitors will appreciate the value of the site. Environmental interpretation in a resource‐sensitive tourism destination is considered to be an effective visitor management strategy that helps to encourage visitors to adopt more appropriate behaviour in order to sustain the development of tourism. This paper aims to examine the processes and purposes of visitor management and environmental interpretation, including relevant definitions and functions. The characteristics of visitor management and environmental interpretation, and how to increase their effectiveness, also are addressed. Copyright © 2002 John Wiley & Sons, Ltd.