交通运输行业超限超载与黑车治理困境及突围——来自赏金猎人制度的借鉴

交通治理现代化是交通强国建设的重要支撑。交通运输行业超限超载与黑车现象屡禁不止的现实困境,一方面源于早期制度设计阶段遗留的逻辑障碍,一方面源于目前缺乏行之有效的规则来对此类问题进行限制和制约。尽管各级政府对黑车治理高度重视并采取了多种措施,但依然存在黑车辨识难、管理成本高、效率低等问题,尚未达到我国现有施政路线的要求。鉴于此,可抓住管理型政府向服务型政府转型的契机,遵循合法、合理、高效、经济的原则,通过比较分析美国赏金猎人制度来形成制度改革的借鉴。赏金猎人模式作为国外长期摸索得到的经验,有很多值得参考之处。现阶段,赏金猎人模式在我国已经具备试行的基础条件,不仅能够开拓视野,为当前我国面临的交通运输行业治理问题提供制度层面的启示,而且更为重要的是,能够为解决我国超限超载与黑车治理问题提供新的思路。当然,为避免简单借鉴或全盘照搬而导致的水土不服等落地性难题,需要围绕黑车治理困境和超限超载运输这两个具象背景,对不同国别法律解释上的差异加以创新并实现本地化,使之在立法层面稳固的前提下展示其优越性。     

Banking sector reactions to COVID-19: The role of bank-specific factors and government policy responses

This paper examines the impact of bank-specific factors and variations in the context of stringency of government policy responses on bank stock returns because of the COVID-19 pandemic. A sample of 1,927 publicly listed banks from 110 countries is used for the period of the first major wave of COVID-19, that is, January to May 2020. Our findings indicate that stock returns of banks with higher capitalization and deposits, more diversification, lower non-performing loans, and larger size are more resilient to the pandemic. While banks’ environment and governance scores do not have a significant impact, higher social and corporate social responsibility strategy scores intensify the negative stock price reaction to COVID-19. We further observe that the pandemic-induced reduction in bank stock prices is mitigated as the strictness of government policy responses increases, mainly through economic responses such as income support, debt and contract relief, and fiscal measures from governments.     

Excessive managerial entrenchment,corporate governance,and firm performance

This paper investigates the differential impact of positive and negative excessive managerial entrenchment on the CEO turnover-performance sensitivity, CEO compensation, and firm performance. We measure the degree of managerial entrenchment using the E-index introduced by Bebchuk et al. (2009). Our findings suggest that an increase in excess CEO entrenchment reduces the likelihood of CEO turnover due to poor performance. We also show a positive association between excessive entrenchment and CEO compensation as managers gain more power and authority when they are entrenched. On the other hand, excess CEO entrenchment has an inverse correlation with firm performance and firm value. Overall, we propose that excessive managerial entrenchment has a converse impact on board monitoring and shareholders’ welfare.     

不确定环境下创业型领导如何提升组织创新绩效

创业型领导是企业应对高度不确定环境的有效领导力，通过机会开发、变革创新保持竞争优势与实现可持续发展。依据战略创业理论和效果推理理论，对高科技企业高管和员工展开问卷调查，探究不确定环境下创业型领导对组织创新绩效的影响机制。结果表明：创业型领导正向预测组织创新绩效；组织即兴在二者之间起部分中介作用；环境动态性正向调节创业型领导与组织即兴关系，并进一步调节组织即兴在创业型领导与组织创新绩效间的中介效应。该研究发现对企业充分发挥领导效能、促进组织创新具有重要指导意义。     

CEO regulatory focus and myopic marketing management

This study details the mechanisms on how CEO regulatory focus affects the salience of the gains versus losses involved in myopic marketing decision-making, and how such CEO psychological attributes interact with internal equity-based compensation, external pressure from equity analysts, and environmental turbulence to affect firms’ myopic marketing management propensities. We find that when faced with short-term earnings pressure to meet earnings expectations and when time is no longer a resource, predominantly promotion-focused are more likely to engage in myopic marketing management to benefit from the temporary stock price increase, which comes from meeting or beating earnings expectations. Conversely, predominantly prevention-focused CEOs are less prone to such short-termist actions which results in long-term value loss. For the moderating variables, we find that: (1) equity-based compensation tends to attenuate myopic marketing tendencies of promotion-focused CEOs but have no impact on prevention-focused CEOs, (2) whether equity analysts improve monitoring or aggravate short-term earnings pressure depends on the CEO’s regulatory focus, and (3) environmental turbulence does not increase the myopic marketing management tendencies of predominantly promotion-focused CEOs but rather intensifies the relunctance of prevention-focused CEOs to take short-termist actions. We further find that myopic marketing management mediates the impact of CEO regulatory focus on future firm performance. These findings have important implications for firms and boards when selecting new CEOs and structuring the compensation of existing CEOs. Firms need to simultaneously consider the fit between the CEOs’ regulatory focus, firms’ needs, the business environment, as well as CEO compensation structure.     

Socio‐economic transitions and everyday life changes in the rural world: Pyrenean households and their contemporary economic history

This article focuses on understanding rural life and how agrarian everyday life changes as a consequence of the radical socio‐economic transformations that, across the world, have accompanied rural communities in their transition from economies of subsistence to industrial production, and, in some areas, from there to providers of service to the tourism‐oriented leisure economy. In the last century in the Alt Urgell District (Spanish Pyrenees), many communities went from a production model based on subsistence farming and livestock breeding first to a specialization in milk production and later to tourism. The industrialization of milk production, the radical transformation of the scale of their operations, and the monetization of life transformed the identity and structure of these communities. The subsequent transformation of many of these farms to accommodate the leisure industry changed the shape of these households again. This paper reflects on how science, governance, commodification, and technology played a role on the transformation of the rural mountain areas, their people, and their everyday life.     

Do Boards of Directors Influence Corporate Sustainable Development? An Attention‐Based Analysis

Following the attention‐based view of the firm (ABV), boards of directors’ link to corporate sustainable development (CSD) could be dependent upon certain attention structures: valuation of environmental stimuli, rules of the game and the players. Studying a sample of large Australian firms, the findings indicate that the proposed attention‐directing structures do appear to be linked to CSD in a manner consistent with the ABV. Specifically, creating awareness through scanning efforts links boards to CSD. Stakeholder debate, as a boardroom rule, is also significantly associated with CSD. Furthermore, as a so‐called ‘player’ on the board, women directors have a moderating effect on the relationships between environmental scanning, stakeholder debate and CSD. The findings are discussed along with limitations and directions for future research. Copyright © 2018 John Wiley & Sons, Ltd and ERP Environment     

Theory and Reality of Cryptocurrency Governance

I analyze cryptocurrency ecosystems with Elinor Ostrom’s meta-framework for self-governance. I conclude that Bitcoin falls short in its self-governing ambitions, while cryptocurrency software protocols and blockchain technologies have potentialities within “permissioned” peer-to-peer private or hybrid networks. However, regulation and supervision by trusted third parties are required.     

A COMPREHENSIVE REVIEW FOR GREEN PRODUCT TERM: FROM DEFINITION TO EVALUATION

Nowadays, interest in corporate environmental strategies shifts from cleaner processes to the holistic nature of green products. The relevant literature argues that firms have the opportunity to pioneer through green product innovation, allowing them to differentiate and thus gain competitive advantage. Environmental burden of products during their entire life cycle is undeniable. Due to the weakness of the existing literature that inadequately addresses a commonly accepted green product definition, as well as the thereby caused inconclusive academic empirical results on firms' competitiveness, there are many cases of businesses greenwashing behavior. The overall contribution of this exploratory paper, on determining and evaluating the degree of greenness of a product, is twofold; first, starting with a systematic literature review, authors further contribute by proposing an integrative definition that addresses the so far existing terminological gap. Next, after reviewing the existing environmental assessment tools, authors based on the developed definition and in accordance to its dynamic dimension contribute to the existing methodology, as the paper reveals issues that need to be considered in the evaluation of green products.     

The acerbity of the social: how to include the social in governmental risk assessments

This paper addresses the expansion of risk practices through a case study of a government led project in Sweden purposed to develop a method to include social events in mandatory risk practices. Social heterogeneity was to be transformed into straightforward causality in order to turn the social into a manageable object. In this regard, the project was quite successful. By inviting social scientists into the process, otherwise often marginalized within risk practice, causality and quantifiable risk factors could be established and the model became a rigorous and legitimate scientific model. Although experts were granted significant autonomy and became experts far beyond their own area of expertise, the success of the model lies rather in allowing experts authority within confined boundaries. Grand narratives and critical perspectives are disregarded as too abstract and if social scientists are to infuse aspects of social critique they must adapt to these circumstances: they must become instrumentalists.