Evaluation of the green technology innovation efficiency of China's manufacturing industries: DEA window analysis with ideal window width

Data Envelopment Analysis (DEA) window analysis with ideal window width is applied to evaluate the green technology innovation efficiency of 28 manufacturing industries in China during 2006–2014. The obtained results are compared with those calculated using the traditional DEA model, and convergence analysis of the efficiency is conducted. Five years is the obtained ideal window width and DEA window analysis with ideal window produces results closer to reality for China's manufacturing industry. The overall efficiency of the green technology innovation in the manufacturing sector is low following a wave-shaped curve – first decreasing, then increasing and decreasing again, with large inter-industrial differences. There are 8 high-, 14 medium- and 6 low-efficiency industries. A convergence trend in the green technology innovation efficiency within the 28 manufacturing industries exists, implying a catch-up effect between them.     

The dynamic role of small- and medium-sized multinationals in global production networks: Norwegian maritime firms in the Greater Shanghai Region in China

This article examines the role of small- and medium-sized multinational enterprises (MNEs) in the dynamic development of global production networks (GPNs) in the maritime industry. It studies the dynamism between subsidiaries of Norwegian maritime firms and regional actors and institutions in the Greater Shanghai Region of China from the perspectives of the subsidiaries. It argues that strategic coupling, recoupling and decoupling are partly the results of regional selection mechanisms. However, in the cases where the subsidiaries are embedded within the host region, the strategies and behaviour of MNEs are of decisive importance for the dynamic development of GPNs.     

Oil price and automobile stock return co-movement: A wavelet coherence analysis

This paper explores possible co-movement between oil price and automobile stock return in a joint time-frequency domain. Daily price series from August 01, 1996 to June 20, 2017 is used in this analysis. The results indicate that the co-movement between oil price and automobile stock return is strong during November, 2000–December, 2002 and March, 2006–December, 2009. The co-movement is found to be more pronounced in the long-term and stock return is sensitive to the higher oil price emanating from the demand shock. This contravenes the conventional wisdom that crude oil is always counter-cyclical to the automobile stocks. For investor, this weakens the probable gain from including oil asset in a portfolio of automobile stocks as crude oil does not offer cushion against bearish automobile stock markets during the crisis period.     

State‐Led Financial Regulation and Representations of Spatial Fixity: The Example of the Spanish Real Estate Sector

This article offers a bottom‐up contribution to the fixity–motion literature. It aims to unravel the apparent contradiction of real estate spatial fixity in Spain, which is portrayed both as a barrier to accumulation and as a unique source of investment by different capitalist actors. Empirically, it describes the shifts in real estate ownership and changes in profit‐making strategies that have taken place across the real estate sector during the crisis years, and the role of the state in these shifts. The article asserts that the idea of spatial fixity representing a spatial barrier for accumulation does not necessarily apply in the Spanish case. It further claims that the tensions in capital circulation through real estate are not only to be found in the action of time, but in different state strategies pursued by various actors. The opposing representations of fixity are the result of state regulation of interest rates, taxation and risk weighting. The state also increasingly promotes land rents as a source of liquidity creation.     

Organizational attention and learning under regulatory intervention: Governmental investigation into auto engine quality

We examine the efficacy of government regulation on a firm's product. We draw on the behavioural approach of organization research in order to understand the micromechanisms whereby the regulatory intervention process affects corporate operation. We suggest that while government investigations may limit the improvements in product quality by distracting a firm's attention, this unintended outcome depends on the extent to which the firm engages in a substantive problem‐solving process with the regulator during an investigation process. A longitudinal analysis of the US government's investigation into motor vehicle engine production offers overall support for our argument. The paper concludes with a discussion of the implications that our findings present to learning theory and institutional literature. Copyright © 2017 ASAC. Published by John Wiley & Sons, Ltd.     

创新驱动产业转型升级研究——基于中国1998-2016年省域面板数据

为了探究创新驱动产业转型升级的作用机制,构建了创新投入与创新产出对产业转型升级内涵质量与外显效应的影响模型,并提出研究假设。基于中国1998-2016年省域面板数据,借助Eviews 9.0计量软件,采用固定效应模型进行实证研究。结果表明,所提出的研究假设均得到验证。创新产出对产业转型升级内涵质量具有积极影响,创新产出的各表征变量(专利授权数、技术市场合同成交金额、新产品销售收入)每增长1%,产业转型升级内涵质量的表征变量人均国内生产总值将提高0.014 8%～0.051 1%。创新投入对产业转型升级外显效应具有积极影响,创新投入的各表征变量(R&D经费内部支出、R&D人员全时当量)每增加1%,产业转型升级外显效应的表征变量产业结构层次系数将提高0.007 1%～0.010 5%。因此,创新能够驱动产业转型升级,但创新投入与创新产出对产业转型升级的影响机制并不相同。研究结果为创新驱动产业转型升级问题的研究提供了一个新的研究范式,对实施创新驱动发展战略、促进产业转型升级有借鉴意义。     

Corporate association strategies and consumer responses: The relative effectiveness of CA versus CSR communication strategy by industry type

Given the importance of communication in the realm of corporate associations, this study analyzes the roles that communication strategies play in the formation of corporate associations. The study examines (1) whether particular types of associations (corporate ability or corporate social responsibility associations) can be developed through CA- or CSR-based communication strategies, and (2) the relative effectiveness of these two association types at amplifying favorable consumer responses across three different industries (consumable goods, durable goods, and stigmatized goods). An experiment was conducted to test the proposed model with six Fortune 500 companies. The results demonstrate that communication strategies can effectively facilitate a particular type of association. Differing levels of association effectiveness were found within each industry. For the consumable goods industry, CA associations are found to be more effective than CSR associations. For the durable goods industry, CSR associations are more influential at enhancing consumer attitudes and purchase intent than CA associations, while CA associations have a larger impact on supportive communication intent. In the case of the stigmatized industry, CSR associations play a determinant role in fostering positive consumer responses. This study provides managers and communication specialists with more concrete guidance for choosing a particular corporate positioning and communication strategy.     

The Improbability of Fraud in Accounting for Derivatives: A Case Study on the Boundaries of Financial Reporting Compliance

ABSTRACT

This study responds to recent calls in the literature to examine fraud using detailed case studies, extending knowledge beyond individual incentives and capital market reactions towards a more contextualized understanding of the concept. We use an institutional logics perspective to challenge existing assumptions about a universally valid meaning of compliance, fraud, and faithful representation. Presenting the case of the Swedish bank HQ, we show how the interpretation of the accounting standard for option measurement varies across different enforcement bodies because the meaning of compliance is socially negotiated across the institutional logics of markets, financial regulation, and law. The independent decision-making of the different enforcement bodies leads to a systematic variation in the interpretation of principles-based accounting standards without ultimate coordination. To define consistent boundaries of compliance across institutional logics, and thus, to distinguish between fraud and allowable managerial discretion becomes problematic. Faithful representation, in turn, cannot be understood as financial statements reflecting a correct value or as financial statements being prepared in accordance with acceptable practice, as suggested in the earlier literature. Instead, faithful representation itself becomes a contextually bound concept, which can only be defined within an institutional logic.     

Hen housing system information effects on U.S. egg demand

The U.S. egg industry has been moving rapidly towards “cage-free” aviary housing as an alternative to conventional cages for hens. A choice experiment was used to evaluate the U.S. public’s willingness to pay (WTP) for egg attributes including housing system, color, size, and certifying agency. A significant difference in WTP for hen housing systems was found using video information treatments describing hen housing systems. When respondents were shown videos of egg production systems, they were indifferent between cage-free aviary and the alternative enriched colony hen housing system whereas with no video information the respondents clearly preferred the cage-free system. Results point towards potential public misunderstanding of the costs and benefits associated with the “cage-free” egg label designation and highlight potential discrepancies between industry commitments and informed consumer preferences.