Repeated acquirers in FDIC assisted acquisitions

We studied repeated acquirers in Federal Deposit Insurance Corporation (FDIC) assisted acquisitions. Using a sample of 128 FDIC assisted acquisitions and 387 non-assisted acquisitions, we found that FDIC assisted acquirers, on average, produced positive abnormal returns. This result was driven by repeated acquirers. First-time acquirers did not profit in these assisted acquisitions. In a logit analysis, we found that the FDIC repeated acquirer improved its profiting chances by reducing the winning bid and the number of bids. This evidence is consistent with the suggested experience/information effect based on theory and FDIC practices.     

The use of professional designations in the real estate industry

A series of surveys investigates the recognition by consumers of professional designations in a variety of financial services fields, but with an emphasis on the real estate industry. The results from the 1991, 1994 and 1996 surveys are consistent in revealing a general lack of recognition by consumers of professional designations, with the notable exception of the CPA. The CFP and CLU also fared somewhat better than the real estate designations examined both in terms of consumer recognition and perceived competence of those holding the designation. Consumers indicate, however, a generally strong desire for dealing with professionally designated individuals when making financial decisions.     

Climate risk management strategies and food security: Evidence from Cambodian rice farmers

This study investigates the adoption of three climate-resilient strategies (3CRS), drought/flood-resistant rice varieties, integrated pest management (IPM) practices, and weather advisory; the impact of 3CRS on food security, namely, productivity and profits of the Cambodian paddy farmers. Using endogenous switching regression (ESR) approach and household survey from Cambodian farmers, the study finds a low adoption rate (14%) of 3CRS. The low adoption of 3CRS means missing opportunities for rice farmers. Access to information through training and input suppliers is found to increase the adoption of 3CRS. The adoption of 3CRS increases rice yields and profits by 36% and 45%, respectively. Additionally, if nonadopters adopted 3CRS, rice yields and profits would increase by 55% and 52%, respectively. Findings suggest the development of institutional capacity, implementation, and dissemination of knowledge of climatic changes, and adaptation strategies to increase food security.     

When can Chinese competitors catch up? Market and capability ladders and their implications for multinationals

Chinese companies have been more successful in catching up with and sometimes surpassing, their global competitors in some industries but not all of them. This holds true for markets in China and international markets. In this article, we show how both the demand and the supply sides of an industry explain these differences, in terms of the existence of market and capability ladders that can help a new competitor climb from the low end, though the middle, and to the top. We then propose several alternative strategies that multinational companies can follow to respond to growing Chinese competition and recommend strategies with the most potential for a particular market and industry.     

Boundary spanners,HRM practices,and reverse knowledge transfer: The case of Chinese cross-border acquisitions

This paper investigates the role of boundary spanners in reverse knowledge transfer in EMNEs’ cross-border acquisitions. Applying a micro-foundational approach and building on boundary spanning as theoretical perspective, we conducted case studies of acquisitions by Chinese companies in Germany and the UK. We find reverse knowledge transfer is a collective endeavour that relies on both the ability and motivation of individual boundary spanners as well as team-based international collaborations. We propose a conceptual framework of reverse knowledge transfer with two mechanisms—enabling and materializing. Their successful implementation depends not only on the personal characteristics of boundary spanners, but on supportive HRM practices.     

Online persuasion of review emotional intensity: A text mining analysis of restaurant reviews

Consumer-generated restaurant reviews are important sources in consumers’ purchase decisions. The purpose of this study is to explore the impact of emotional intensity on perceived review usefulness as well as the moderating effects of review length and reviewer expertise. Data from 600,686 reviews of 300 popular restaurants in the US were obtained from Yelp. Using a text mining approach and econometric analysis, empirical results show that (1) positive emotional intensity has a negative impact on perceived review usefulness, whereas negative emotional intensity has a positive impact on perceived review usefulness; (2) among the two most prevalent discrete negative emotions in online reviews (i.e., anger and anxiety), reviews expressing anger are more useful than those expressing anxiety; and (3) review length and reviewer expertise can moderate the effect of emotional intensity on perceived review usefulness.     

Examining the relationship between tourist motivation and satisfaction by two competing methods

The relationship between tourist motivation and satisfaction has a long history of research, but continues to show contrary results. Based on two surveys on tourists undertaking a rafting activity while on holiday, the current study compares two approaches classified here as the Classic and Performance methods to clarify the relationship between motivation and satisfaction. The results of the Classic model which assumes a direct relationship between motivation and overall satisfaction show that motivation is not a significant determinant of overall satisfaction, if it is measured before the experience. In the Performance model, post experience motivation evaluation is introduced as the determinant of overall satisfaction. The results supported this proposition. A comparison of the models also reveals that the Performance model outperforms Classic model in terms of explaining overall satisfaction.     

平台战略内核：网络效应概念演进、测度方式与研究前沿

大量研究虽以平台战略为主题，但并未将网络效应这一平台内核特征纳入分析建模，使得研究缺乏理论深度。采用文献计量和内容分析相结合的方法对网络效应相关研究进行梳理。分析发现：网络效应研究经历了3次理论演进，即同边网络效应向跨边网络效应演进（内容）、网络效应是什么向网络效应有何影响演进（作用）、网络正效应向网络负效应演进（后果）。三大演进从网络效应测度方式和行业情境中亦可窥见。结合关键词突变分析，发现网络效应最新研究已开始从关注网络效应“后果”转向“前因”考察。结合战略管理最新研究趋势，提出未来网络效应前因研究可以从个体行为、关系嵌入、种群生态、制度环境4个层面展开。特别是随着平台模式从消费互联网向产业互联网延伸，网络效应作用和激发方式是亟待关注的研究议题。     

The green B&B promotion strategies for tourist loyalty: surveying the restart of Chinese national holiday travel after COVID-19

This paper attempts to empirically analyze green/healthy B&B promotion strategies for tourism recovery after the first wave of COVID-19. The survey will be meaningful in the real world of B&B tourism recovery, and it was conducted during the first Chinese national holiday without travel restrictions. China was the first country to resume travel after COVID-19. Confirmatory factor analysis (CFA) and structural equation modeling (SEM) were used for testing. The relationships observed among the green/healthy physical environment, well-being perception (WBP), tourist satisfaction (TS), and tourist loyalty (TL) provide a better understanding of how to support sustainable tourism recovery. Green/healthy B&B promotion strategies that focus on a green/healthy physical environment after the health crisis can also be employed in other countries and regions experiencing the same situation.     

Zoning plan-based legal confiscation without expropriation in Turkey in light of ECHR decisions

The right to property is a fundamental human right guaranteed by international conventions. In countries like Turkey, where the principles of private ownership apply, this right is guaranteed by laws. The right to property may be restricted by law only in the case of public interest. Nevertheless, the right of ownership of immovable property can be transferred to the public authority only with payment. However, in some cases, a person's immovable property may be de facto converted into a public facility without expropriation. This process is called “confiscation without expropriation”. This concept was introduced into the Turkish Legal System in 1956 by the unauthorized conversion of immovable property for a road. Today, especially in planned areas, a different type of confiscation without expropriation is often seen. Zoning plans are known to be public tools that reorganize properties in public interest. However, the uncertainty in the implementation process of these plans negatively affects the owners of parcels reserved for public use in the zoning plan. This situation is defined in terminology as “legal confiscation without expropriation”. In this study, the subject has been discussed in the light of the European Court of Human Rights (ECHR) decisions and Turkish judicial decisions, and which institutions are responsible for what kind of zoning functions within zoning plans have been investigated. Official (ex officio) applications and voluntary applications have been compared. Conceptual illustrations on the subject have been prepared. According to the results obtained from the study, it has been stated that all public spaces in the zoning plan are not subject to legal confiscation. Due to their location or characteristics, protected areas, unsuitable geological areas and parcels remaining in agricultural areas can be allocated as public spaces in the zoning plan. In such a case, it is not possible to say that there is legal confiscation. In terms of plan classification, there may be legal confiscation in areas if only a 1/1000-scale implementary zoning plan is in practice. As a solution for legal confiscation, land and real estate arrangements should be made ex officio and without delay. In addition to this, alternative models are also needed. Otherwise, public institutions will be subject to severe financial burdens. Some of the proposals include: granting construction right to zone cadastral parcels affecting public facility areas, or granting the right to construct all cadastral parcels in the plan in specified amounts and also developing a zoning right transfer system.