Board directors with foreign experience and stock price crash risk: Evidence from China

This study examines the impact of board directors with foreign experience (BDFEs) on stock price crash risk. We find that BDFEs help reduce crash risk. This association is robust to a series of robustness checks, including a firm fixed effects model, controlling for possibly omitted variables, and instrumental variable estimations. Moreover, we find that the negative association between BDFEs and crash risk is more pronounced for firms with more agency problems, weaker corporate governance, and less overall transparency. Our findings suggest that the characteristics of board directors matter in determining stock price crash risk.     

Reward meritocracy or nepotism: The case of independent financial advisors appointed by Chinese listed companies

As independent financial advisors, securities firms are the core intermediaries in major asset reorganization (MAR) of listed companies. Furthermore, they play the dual roles of transaction and authentication. Based on this institutional background, this paper studies how listed companies choose between industry experience (“meritocracy”) and relationships (“nepotism”). Using the MAR of A-share listed companies from 2008 to 2013 as the sample, this paper shows that higher transaction costs (i.e., greater demand for the transaction function of advisors) are related to the higher possibility of advisors with weaker relationships and more industry experience being hired. It also shows that higher suspicion of tunneling (i.e., greater demand for the signal of fairness associated with advisors’ authentication function) is related to the higher possibility of advisors with weaker relationships being hired, but it is not significantly related to whether advisors have more or less industry experience. This paper also shows that reputation has a certain governance effect on the negative consequences of relationship. For the most part, listed companies reward meritocracy but not nepotism when appointing independent financial advisors.     

Creating Shopper Value: Co-Creation Roles,In-Store Self-Service Technology Use,and Value Differentiation

This study examines how retailers can use self-service technologies (SST) to increase shopper satisfaction. Using a survey of 188 consumers of a new self-service kiosk launch within a convenience-store (c-store) setting, we examine how such retailers might influence shopper's perceptions of value by better involving customers in the service delivery experience. Our proposed model links classic service operations and marketing design insights to the service-dominant logic perspective of service value co-creation. We find that shoppers perceive enhanced value creation from the new SST when they feel comfortable in their roles and the surrounding service design supports those roles.     

Linking transformational leadership and employee creativity in the hospitality industry: The influences of creative role identity,creative self-efficacy,and job complexity

Integrating transformational leadership, creativity and social cognitive theories, we explore the relationships among transformational leadership, creative role identity, creative self-efficacy, job complexity and creativity. Structural equation modeling (SEM) with bootstrapping estimation was conducted using data from 395 supervisor–employee dyads from international tourist hotels in Taiwan. The results show that supervisors' transformational leadership positively influenced employee creative self-efficacy and creativity. Moreover, creative role identity was found to mediate the relationship between transformational leadership and employee creative self-efficacy, while both creative role identity and creative self-efficacy were found to mediate the relationship between transformational leadership and employee creativity. Specifically, job complexity was found to moderate the relationship between transformational leadership and employee creative role identity, the relationship between employee creative role identity and creative self-efficacy, and the relationship between employee creative self-efficacy and creativity. We discuss the implications of these results for research and practice in hospitality context.     

环渤海地区区域经济空间网络关联结构研究

采用网络分析方法，对1995—2014年环渤海地区区域经济空间网络关联结构进行分析，研究发现：环渤海地区区域经济空间网络关联特征显著，分为“辽宁”和“京津冀鲁”两个子网络；网络密度稳步上升，但仍然较低；核心区域的经济比重有所降低，但份额始终较大；网络效率在波动中趋降，空间溢出效应趋于显著。其中，北京、天津、济南等9地属于“主受益”板块，石家庄、保定、潍坊等19地属于“经纪人”板块，沈阳、大连、鞍山等4地属于“双向溢出”板块，而秦皇岛、承德、葫芦岛等12地属于“净溢出”板块。产业结构转型升级、控制FDI区域差异以及投资多元化等有利于环渤海地区增强区域经济空间关联。应多途径构建区域经济关联通道，打造“环型”网状关联经济，并通过产业转型升级和经济多元化发展增进区域经济空间关联。     

Call Center Employees’ Intent to Quit: Examination of Job Engagement and Role Clarity

Call centers have become a valuable resource for hotels in managing customer experiences and relationships, yet they have also developed a reputation for being a stressful job which has made it a significant challenge to retain employees. Given high turnover rates among call center employees, it is important for hospitality firms to understand the factors influencing their intentions to quit. This study focuses on job engagement and role clarity to examine hotel call center employees’ intent to quit. The survey results of call center employees at a large resort hotel suggest that job engagement significantly influences the hotel call center employees’ intent to quit after accounting for job satisfaction and organizational support. Role clarity, however, is not related to intent to quit. Managerial implications and recommendations for increasing employee job engagement are discussed.     

Evaluating Board Roles Performance in Adopting Corporate Social Responsibility （CSR） Practices

The purpose of this paper is to evaluate the board roles that make a board effective in the performance of adopting corporate social responsibility （CSR） practices. This paper examines directors＇ perceptions of the three main roles： monitoring, service, and strategic, which provide tools for critically understanding how the board adds the value in moving the organization towards more CSR practices. The stakeholder theory is used to distinguish the influence of the three main roles on the adoption of CSR practices. Primary data were collected for this research by conducting structured questionnaires with a sample of 461 directors from Saudi listed companies for study purpose. The results show that an appropriate mix of directors＇ roles and the development of sound board monitoring and service roles are the most crucial determinants of CSR adoption in Saudi listed companies. As the extant corporate governance and CSR literatures do not provide a clear perspective with contradictory outcomes about board roles in influencing CSR practices, the originality of this research is its contribution by evaluating the directors＇ perceptions of developing a direct relationship between the board roles and the adoption of CSR practices. Furthermore, the use of the stakeholder theory provides additional insights into identifying the most influential board role factors enhancing stakeholders＇ expectations of CSR practices.     

海洋文化在海洋休闲渔业中的引领作用研究

海洋休闲渔业作为海洋经济的重要组成部分,满足了人们的休闲需求,推动了渔区的经济发展,逐渐成为海洋经济的活跃领域。与此同时,海洋休闲渔业面临的发展瓶颈也同步凸显,一定程度上阻碍了其向更高层次迈进。本文旨在从海洋休闲渔业的属性和海洋文化特征入手,深入分析其发展困境,探讨海洋文化和海洋休闲渔业两者之间的耦合效应,以此寻求海洋休闲渔业的有效发展路径。     

试论我国行业管理法的地位与体系

行业管理法是经济法体系中的一项法律，但是从宏观和微观的分类上行业管理法既不属于宏观经济调控法，也不属于微观的市场规制法，从其功能上来说行业管理法属于调整中观管理的经济法，行业管理法体系包含行业管理基本法、行业管理部门规章以及行业协会的自治规范等内容，具有指导思想和制度规范的立法，行业管理法对于促进行业领域的正常运行具有重要的意义。行业管理法与产业政策法规具有密切的关系，两者之间相辅相成，在国家的产业发展中共同发挥着指引和规范作用，研究行业管理法的地位和体系离不开产业政策法的分析介绍。笔者在本文中对行业管理法的地位和重要作用进行了分析，对行业管理法的体系内容也进行了详细的阐述，旨在通过本文的研究让更多人的认识到行业管理法，从而促进行业管理法作用的有效发挥。