The consequences of managerial indiscretions: Sex,lies, and firm value

Personal managerial indiscretions are separate from a firm's business activities but provide information about the manager's integrity. Consequently, they could affect counterparties’ trust in the firm and the firm's value and operations. We find that companies of accused executives experience significant wealth deterioration, reduced operating margins, and lost business partners. Indiscretions are also associated with an increased probability of unrelated shareholder-initiated lawsuits, Department of Justice and Securities and Exchange Commission investigations, and managed earnings. Further, chief executive officers and boards face labor market consequences, including forced turnover, pay cuts, and lower shareholder votes at re-election. Indiscretions occur more often at poorly governed firms where disciplinary turnover is less likely.     

学术印记、网络惯例与大学衍生企业产业嵌入

在大学衍生企业创业实践中，与产业主体间缺乏合作默契已成为大学衍生企业向产业网络嵌入的重要阻滞因素。针对该问题，基于网络惯例新视角，从大学衍生企业学术创生背景带来的异质性入手，构建“学术印记—网络惯例—产业网络嵌入”作用模型，探索技术动荡性的调节效应。运用多元回归分析等方法，对379家大学衍生企业调研数据进行实证检验。结果表明，大学衍生企业学术印记对网络惯例建立具有积极促进作用。同时，在向产业嵌入过程中，网络惯例对产业网络嵌入两个维度的作用机制存在差异，与结构嵌入存在倒U型关系，但正向促进关系嵌入。技术动荡性在“学术印记—网络惯例—产业网络关系嵌入”关系中具有正向调节作用。     

创业网络结构属性如何影响创业学习方式的选择——基于印记理论的单案例研究

创业网络对具有新进入缺陷的新创企业以及创业者而言有着至关重要的作用，不仅表现为"知识源"作用，也表现为"印记源"作用。印记理论指出个体或组织在其容易受到影响的时期，外部环境的显著特征将对其产生重大影响，个体和组织将打上环境特征的烙印，并且这种烙印将持续影响个体和组织的行为。基于此，本研究基于印记理论，利用对一家创业企业的归纳式纵向单案例分析探讨创业网络不同的结构属性经由何种印记过程，继而影响创业者学习方式的选择。结果表明：当创业网络表现为封闭、半开放以及开放的不同网络结构时，经由不同结构属性导致的结构印记和认知印记过程差异，影响着创业者实验式学习、观察式学习以及协同式学习的不同选择。     

Systemic financial risk early warning of financial market in China using Attention-LSTM model

We propose an Attention-LSTM neural network model to study the systemic risk early warning of China. Based on text mining, the network public opinion index is constructed and used as a training set to be incorporated into the early warning model to test the early warning effect. The results show that: (i) the network public opinion is the non-linear Granger causality of systemic risk. (ii) The Attention-LSTM neural network has strong generalization ability. Early warning effects have been significantly improved. (iii) Compared with the BP neural network model, the SVR model and the ARIMA model, the LSTM neural network early warning model has a higher accuracy rate, and its average prediction accuracy for systemic risk indicators has been improved over short, medium and long terms. When the attention mechanism is included in the LSTM, the Attention-LSTM neural network model is even more accurate in all the cases.     

Environmental factors influencing the management of key accounts in an Arab Middle Eastern context

Within the sales and marketing literature, it is recognised that a range of external factors can influence how companies in the business-to-business field manage business relationships within national and across international borders. However, there have been very few studies that explore the influence of the external environment on key account relationships, especially within the context of emerging economies. This study draws on the network approach and contingency theory to identify and highlight the influence of external environmental factors on the management of inter-organisational relationships with key customers in emerging economies in the Arab Middle East region. It is based on an extensive qualitative enquiry that utilises 50 in-depth semi-structured interviews conducted in Jordan with endogenous and Western firms. It concludes that key account practices within an Arab context are shaped by a number of contingencies that are embedded in broader institutional contexts and the business environment, which may challenge the adoption of company-wide universal key account management policies across borders.     

非洲铁路发展需求分析与市场开发策略

中资企业面向非洲铁路市场,多以"广覆盖"的形式投入开发,一定程度上造成了资源浪费。为优化中资企业在非洲铁路市场布局以及资源配置,在分析非洲铁路发展现状、铁路网发展影响因素基础上,基于铁路系统需求度、铁路发展需求度分析非洲铁路发展需求,提出了非洲大陆49个国家高、较高、中、低4个等级的铁路发展需求度,同时提出非洲铁路市场开发策略建议,即:优化非洲铁路市场开发资源配置,分区域实施铁路市场开发及项目建设,创新合作模式、拓宽资金来源。     

军民融合社会关系网络对军民融合新创企业成长的影响

军民融合新创企业是推动我国国防建设和社会经济融合发展的重要力量，军民融合社会关系网络具有丰富的异质性资源，可以有效促进军民融合新创企业成长。借鉴社会网络理论，构建以关系深度、关系广度、关系高度为代表的军民融合社会关系网络、耦合共生与军民融合新创企业成长理论模型，通过对收集的304份军民融合新创企业问卷数据进行实证分析，结果发现：军民融合社会关系网络对军民融合新创企业成长具有正向影响；耦合共生在军民融合社会关系网络与军民融合新创企业成长间发挥中介作用；创业导向显著调节耦合共生与军民融合新创企业成长的关系。     

网络嵌入特征与研发经历对通讯企业预研阶段研发者选择的影响

预研关系到企业在未来行业发展中的竞争优势，但以往相关研究多集中于国防军工企业，对一般民用企业研究较少。从研发者嵌入的网络结构与其自身属性特征两个角度出发，验证通讯企业在3G到4G技术跨越过程中选择预研研发者的影响因素，给出中介中心度、自我中心网结构洞、研发经历3个方面的假设。通过稀有事件logistic回归分析发现，自我中心网中的结构洞个数越多、以往研发技术经历越丰富，研发者越可能被选拔进入企业预研活动。研究结论具有较高的应用价值，可为企业预研中人力资源管理提供决策依据。     

MOOCs in tourism and hospitality: a review

ABSTRACT

Massive Open Online Courses (MOOCs) have grown significantly and globally in less than ten years. However, practices and research in tourism and hospitality MOOCs remain nascent. This study proposes the MOOC Components Framework with six groups of course components: scaffolding, lectures, networking, collaboration, assessment, and affirmation. Drawing on this framework and a case study method, the study analyses 18 tourism and hospitality MOOCs from higher education institutions. The results highlight that: tourism and hospitality MOOC offerings lack diversity; the forum is the preferred communication tool; social media are comparatively underused; the discontinuity of MOOC instructors needs attention; and finally, littless multilingual support is available.     

The reverse tragedy of the commons: an exploratory account of incentives for under-exploitation in an open innovation environment*

This paper presents an empirical account of a phenomenon that we refer to as the ‘reverse tragedy of the commons’ in open innovation. The name signifies the ‘under-exploitation’ of intellectual property (IP) under weak appropriability. The name is this graphic because the tragedy is costly, and can also render IP effectively worthless and block innovation in the short to medium term. We propose that the tragedy is borne out of the interaction between enterprise characteristics, a competitive setting and the framework that is set by the policy intervention. This finding is pertinent to policy-makers with regard to the design of research, development and innovation instruments, as well as managers who must determine how to implement open practices in innovation.