Operating efficiency in Chinese universities: An extended two-stage network DEA approach

The result shows that it accepts the null hypothesis. Namely, there is no significant difference in the operating efficiency of universities in different regions. That is to say, although the efficiency of the central and western universities is slightly better than that of the eastern universities in terms of the average efficiency, there is no significant efficiency difference among the eastern, central, and western regions statistically. Therefore, it shows a balanced development trend for the efficiency of universities in different regions.     

Bank dividends,agency costs and shareholder and creditor rights

Using data on listed banks in 51 countries, we analyze whether banks' dividend payouts are influenced by the relative strengths of the agency conflicts faced by their shareholders and creditors. We show that dividend policy depends on the relative strengths of these agency conflicts, but with a more decisive role played by the agency cost of equity than the one of debt, in contrast to results found in the literature on non-financial firms. We then further investigate whether those relationships are shaped by differences in funding structure, levels of capitalization and capital stringency, and potential differences in external corporate governance mechanisms.     

Psychological contract violation and customer intention to reuse online retailers: Exploring mediating and moderating mechanisms

This study examines the impact of psychological contract violation (PCV) on customer intention to reuse online retailer websites via the mediating mechanisms of trust and satisfaction. The moderating role of perceived structural assurance (SA) is also investigated. An empirical study conducted among online shoppers confirms the indirect effects of PCV on customers' intention to reuse via trust and satisfaction. The findings also support the moderating impact of perceived SA in the network of relationships. The study underscores the importance of SA as a trust-building mechanism for mitigating the deleterious effects of PCV among online customers, although the role of SA in preserving satisfaction is found to be limited. The findings suggest that online retailers may benefit by investing in SA and addressing the negative effects of PCV proactively rather than simply relying on post-failure service recovery mechanisms.     

自由主义民主的解蔽与超越--基于艾伦·梅克森斯·伍德对麦克弗森的批判

伍德认为麦克弗森的自由主义民主理论没有方法论或理论可能性，没有正确揭示自由主义民主同资本主义之间的关系。资本主义并不能借助于自由主义民主获得永恒的生命力，自由主义民主也不能同资本主义一起走向胜利。自由主义民主是一种权利体系，兼具公共权威性和维持占有性关系的双重职能。自由主义民主和社会主义的融合只能依赖没有任何社会内容的空洞的形式主义。自由主义民主导致资本主义国家的自我封闭，制造了不可消除的内在矛盾，最终只能以革命的形式来超越自身的评价系统。国家的消亡只能在无阶级社会中实现，国家权力与公共权力之间具有明显的张力。伍德指出麦克弗森不主张暴力革命，而主张走改良主义道路，希望利用和平手段过渡到社会主义社会，因而麦克弗森不是马克思主义者，更多的是自由主义民主者。     

Risk shifting in the US banking system: An empirical analysis

This paper contributes to the empirical literature on risk shifting. It proposes a method to find out whether risk shifting is present in the banking industry and, if so, what type. The type of risk shifting depends on the group of debt holders to whom risk is shifted. We apply this method to the US banking sector in 1998–2011. To study the relationship between risk shifting and the 2008 crisis, the sample is also split into pre-crisis, crisis, and post-crisis periods. Our results suggest that the same type of risk shifting is present in the entire sample and in the pre-crisis and crisis subsamples. We find no evidence of risk shifting after the crisis. Furthermore, holding capital buffers seems to disincentivize risk shifting. This finding appears to provide support for the conservative buffer included in Basel III.     

不确定性容忍度、决策逻辑与突破式创新关系研究

以位于武汉市产业园、孵化器、创业园等多家公司的255位产品开发及技术研发人员、市场开发人员为有效样本，采用层级回归方法探讨不确定性容忍度、决策逻辑与突破式创新的关系。结果表明:不确定性容忍度与突破式创新显著正相关；不确定性容忍度与因果逻辑显著负相关，与效果逻辑显著正相关；突破式创新与因果逻辑显著负相关，与效果逻辑显著正相关；因果/效果决策在不确定性容忍度与突破式创新关系中发挥部分中介作用；不确定性容忍度正向调节效果逻辑与突破式创新的关系，对因果逻辑与突破式创新的关系没有显著调节作用。研究结论对企业创新管理实践具有重要指导价值。     

地位竞争动机对个体知识共享行为的影响

知识共享行为是学术界和企业界关注的焦点，虽然以往文献从多个角度和层次研究了组织中的知识共享行为，但忽视了地位竞争动机对个体知识共享决策的内在作用机制。基于地位竞争动机差异，将个体地位动机区分为支配型和威望型，以职场排斥为中介变量、组织公平氛围为调节变量，构建地位竞争动机对知识共享行为的影响过程模型，基于13个组织630套上下级配对样本数据进行实证检验。结果显示，支配型地位竞争动机负向影响知识共享行为，威望型地位竞争动机正向影响知识共享行为，职场排斥、组织公平氛围分别发挥中介效应和调节效应。结果为知识共享领域研究提供了新的视角和框架，揭示了地位竞争动机对知识共享促进和抑制作用的两面性，对企业管理实践有一定的现实意义。     

基于多级库存的电网运维物资安全库存优化配置研究

针对电力公司运维物资多级库存体系与安全库存配置现状,结合安全库存聚集效应,文章提出了周转库安全库存差异聚集策略。在综合考虑库存持有成本与普通、紧急配送成本的基础上,构建了安全库存优化配置模型。通过两类电网运维物资实际数据的分析,验证了差异聚集策略下成本低于全部聚集以及全部分散策略,可以为电力公司物资集约化、差异化、精益化管理以及仓库定额配置提供依据。     

Is Indonesia's stock market different when it comes to predictability?

We construct a unique dataset consisting of 342 firms aimed at stock return predictability. Using seven predictors, we show that unlike in conventional markets, it is capital expenditure that is the most successful predictor of returns. However, the overall evidence of out-of-sample predictability when using other conventional return predictors is weak. Capital expenditure-based forecasting models do lead to profits also although these are small. This tends to imply that for markets that are at the nascent stages of development, such as Indonesia, capital expenditure might have a role to play in shaping the market. Our results are in sharp contrast to the literature on emerging markets.     

Vertical separation of transmission control and market efficiency in the wholesale electricity market

This study examines how vertical separation of transmission control affects the wholesale market efficiency in the electric power industry. We analyze a unique regional electricity wholesale market in the U.S. where initially restructuring only occurred in the transmission sector. Following a commonly-used best dispatch model (Wolfram, 1999; Borenstein et al., 2002), we simulate competitive benchmark prices and compare with the best estimates available for actual prices to measure price-cost markups of the wholesale market. Empirical results demonstrate that the vertical separation of transmission control led to a significant increase in market markups in peak-load hours, documenting evidence of enhanced market power. Although we also find a reduction in the price-cost margin in low-demand hours, we reserve caution for this finding.