公司为什么放弃债务的收益呢？

经典资本结构理论认为债务具有税盾效应和财务杠杆效应，因此公司会选择适当的负债以获得债务的税收收益。但是，现实中一些公司的负债很低，甚至为零。公司为什么放弃债务的税收收益呢？本文以2007～2011年中国A股上市公司为研究样本，从行为公司金融的视角分析管理者能力是否导致公司采用“低杠杆”策略。结果表明，中国上市公司存在普遍的低杠杆现象，管理者能力的差异是导致公司采用“低杠杆”策略的重要原因。     

好的表演需要好的观众——顾客察觉准确性在员工情绪劳动影响中的作用

基于385对顾客和员工的问卷调查的配对数据，考察了员工的情绪劳动如何影响顾客的信任和忠诚，以及顾客察觉准确性在其中的调节作用。研究结果表明员工的深层表演会促进顾客的信任，进而促进顾客忠诚；顾客对深层扮演的高察觉准确性会加强员工的深层扮演与顾客信任之间的正向关系，而当顾客对表面扮演察觉准确性低时，员工的表面扮演会对顾客信任有正向的影响；顾客的深层/表面扮演察觉准确性加强了深层/表面扮演、顾客信任和忠诚之间的中介效应。研究帮助从情绪的视角更好地理解服务情境中信任的前因变量，发现顾客的察觉准确性在情绪劳动影响过程中的重要作用，有助于服务企业从情绪劳动的角度来建立顾客信任和忠诚。     

Institutionalized Communication in Markets and Firms

How markets and firms function is critically related to what knowledge and information is exchanged between whom, how quickly. Exchange of (symbolic) information needs to be properly institutionalized in order to be understood by others, on the one hand, but, on the other hand, cannot avoid being ambiguous to some degree as well (Dolfsma et al. 2011 Dolfsma, Wilfred, John Finch, and Robert McMaster. 2011. “Identifying Institutional Vulnerability: The Importance of Language, and System Boundaries.” Journal of Economic Issues 45 (4): 805–818.[Taylor &; Francis Online], [Web of Science ®] , [Google Scholar]). Ambiguity allows for the dissent that allows for innovation in the broadest sense of the term. Institutionalization of communication is community-specific. The tension between institutionalization of and ambiguity in communication explains why innovations cannot depart too much from what is known and accepted in a community to be (ultimately) accepted as a legitimate novelty. The view of markets and firms as settings for institutionalized communication and knowledge exchange offers a perspective that institutional economists are well positioned for to offer insights on.     

The effects of the visual presentation of an Influencer's Extroversion on perceived credibility and purchase intentions—moderated by personality matching with the audience

Influencers are ordinary individuals who have amassed large followings by demonstrating expertise in various niches on social media sites. We aim to propose (1) the visual presentation of an Influencer's extroversion as an antecedent to source credibility and purchase intentions and (2) personality matching in terms of extroversion between an Influencer and their audience as a moderator of such relationships. We chose the source credibility model and the similarity-attraction model as our theoretical frameworks. In our controlled online experiment (n = 165), the profile of a brand ambassador of a fashion brand was curated to create two levels of extroversion (i.e. low vs. high extroversion). Participants' self-reported extroversion levels were counterbalanced in these two conditions to create a personality match with the Influencer, entitled “extroversion congruence.” Our results suggest that the visual presentation of an Influencer's extroversion increases the perceived credibility of the Influencer and subsequent purchase intentions. Additionally, our findings show that these relationships were asymmetrically moderated by extroversion congruence: the positive effects of extroversion increase in the case of high extroversion among both the Influencer and their audience but decrease in the case of low extroversion.     

跨境电商英语沟通中的语用移情策略研究

跨境电商的飞速发展离不开跨境电商英语沟通质量的提升,跨境电商英语沟通是在交流过程中,买卖双方传递、共享信息和感情的过程。运用语用学的移情理论,结合跨境电商英语沟通特点,从礼貌语、委婉语、模糊语和幽默语等方面,建构语用移情策略,有助于缩短买卖双方的心理距离,达到预期的语用效果,推动畅通有效地跨境电商沟通。     

环境检测报告质量的提升策略分析

环境检测工作对于环境保护具有重要影响,这要求全社会稳步提升对于环境检测工作的认识水平,积极地参与相关工作实践,为环境保护提供可靠的参考依据。论文重点分析了环境检测报告质量的提升策略,结合提升环境检测报告质量的意义,提出对应的方案,以期推动环境检测报告的质量提升至新的高度。     

Introduction to the special section on subsistence marketplaces

We provide an introduction to the special issue on subsistence marketplaces. We briefly describe the stream of subsistence marketplaces, and the conference series associated with the call for papers. We provide a brief overview of the diverse set of papers in the special section.     

The role of financial journalists in the expectations channel of the monetary transmission mechanism

Monetary policy relies on managing the inflation expectations of the public in order to influence prices (inflation). Relying on the South African experience, we argue that most of the general public are exposed to the communication of the South African Reserve Bank (SARB) only via the media. This state of affairs is fairly typical around the globe. We explored the role and biases of the journalists in transmitting the SARB’s communications to the rationally inattentive general public. Our aim was to obtain insights about the factors that influence media articles that deal with monetary policy issues. Using interviews and qualitative content analysis, we explored the extent of the journalists’ knowledge about inflation and monetary policy, their views concerning the credibility of the SARB, the sources of information they use, and the constraints and incentives they face in writing their articles.     

地区农网营业站通信解决方案探讨

本文就阳泉地区农村电网各营业站点的电力专用通信网建设问题进行讨论,阐述了利用VOIP模式和传统PDH+PCM方式的优缺点,并结合阳泉地区实际情况提出了解决方案。