Delegation and the regulation of U.S. financial markets

We analyze the institutional determinants of U.S. financial market regulation with a general model of the policy-making process in which legislators delegate authority to regulate financial risk at both the firm and systemic levels. The model explains changes in U.S. financial regulation leading up to the financial crisis. We test the predictions of the general model with a novel, comprehensive data set of financial regulatory laws enacted specifically between 1950 and 2009. The theoretical and empirical analysis finds that economic and political factors impact Congress’ decision to delegate regulatory authority to executive agencies, which in turn impacts the stringency of financial market regulation, and our estimation results indicate that political factors may have been stronger and resulted in inefficiencies.     

Natural resource rents and internal conflicts: Can decentralization lift the curse?

We study how natural resource rents affect the risk of internal conflict within countries and how the federal structure of countries influences this relationship. Natural resource abundance may induce excessive rent-seeking and thus increase the risk of internal conflict. Fiscal and political decentralization as an institutional arrangement for rent-sharing and political codetermination of regions within a country may limit the destructive effect of natural resource rents on internal stability. Using cross-country and panel data from more than 90 countries covering the period 1984–2004, we find evidence that natural resource rents indeed increase the risk of internal conflict, but this relationship is significantly mitigated by political decentralization.     

To Empower or Not to Empower? Multilevel Effects of Empowering Leadership on Knowledge Hiding

It is widely acknowledged that knowledge hiding persists and has detrimental effects in service organizations. With organizations increasingly becoming team based, understanding the interactions between supervisor and team members especially how team- and individual-level empowering leadership behaviors influence followers’ knowledge hiding is important. Using data on 527 followers from 60 departments in 19 Chinese hotels, the study proposes a multilevel model to examine the manifestation of two types of empowering leadership (individual-focused and differentiated empowering leadership) and the dual-level processes on followers’ knowledge hiding. Results show that differentiated empowering leadership is positively related to followers’ knowledge hiding via group relational conflict, whereas individual-focused empowering leadership is negatively related to followers’ knowledge hiding via their psychological safety. In addition, follower’s psychological safety buffers the positive relationship between group relational conflict and followers’ knowledge hiding. We discuss the implications on both theory and practice of empowering leadership on knowledge hiding.     

New employee orientation,role-related stressors and conflict at work: Consequences for work attitudes and performance of hospitality employees

Combining role theory with theories on hindrance stressors and intragroup conflict, we develop a model of the attitudinal and behavioral consequences of new employee orientation in hospitality organizations. We test hypotheses about main and mediated effects in this model, using data from a sample of 156 recently hired hospitality interns and applying a longitudinal approach, with data collection shortly after organizational entry and several months later. Results suggest that employee orientation is negatively related to two hindrance stressors: role ambiguity and role conflict. Role ambiguity predicts a range of attitudinal outcomes and the relationship is partially mediated by relationship conflict. In addition, role ambiguity is negatively related to task performance. Role conflict predicts hospitality employees’ job attitudes and this relationship is fully mediated by relationship conflict. We discuss important theoretical and practical implications of these findings for human resource management in hospitality firms.     

Potential Impact of Climate Change and Armed Conflict on Inequality in Sub-Saharan Africa

This study investigates the potential impact of climate change and armed conflict on inequality in Sub-Saharan Africa (SSA). The system-GMM for a panel of 35 SSA countries is employed using annual data from 1997 to 2018. The empirical results indicate that armed conflict and climate are major drivers of inequality in SSA. The direct impact of the two determinants is more than the indirect impact. Also, the impact of armed conflict is more than the climate change. The coefficients of population growth, output growth, unemployment, natural rent, exchange rate and inflation rate are significant positive predictors of inequality in the SSA. The study advocates for a multidisciplinary inclusive growth strategy that prioritises the climate change reversal, de-escalation of armed conflict, population control, reduction of the unemployment rate and increasing informal sector productivity, to promote inclusive growth and reduce inequality. However, sequencing the policy targets relative to the magnitude of their impact on inequality is extremely crucial.     

粤港澳大湾区知识产权法律冲突及解决路径探析

自《内地与香港、澳门关于建立更紧密经贸关系的安排》(CEPA)实施以来,粤港澳一直将知识产权保护作为三地间实现贸易便利化、自由化过程中的一项重要任务。由于粤港澳三地间法律制度的差异,产生了管辖权、冲突法、实体法以及司法协助等诸多方面的冲突,这些差异直接导致三地间知识产权法律纠纷的发生。在粤港澳大湾区建设中,需要基于粤港澳现有知识产权法律制度,通过完善立法,强化司法和执法保护,纾解粤港澳大湾区现有知识产权法律冲突的困境,创新知识产权纠纷解决机制,以知识产权发展推动科技创新,为推进粤港澳大湾区建设营造良好的法治环境。     

Spatial and temporal analyses of potential land use conflict under the constraints of water resources in the middle reaches of the Heihe River

With the rapid urbanization in China, land resources are becoming increasingly scarce. Identifying and resolving land use conflict is essential for reasonably using land resources and achieving land sustainability. Taking the middle reaches of the Heihe River as an example, we included the constraints of local water resources to construct a multi-criteria evaluation system for assessing land use competitiveness in 2000 and 2015 based on land use, socio-economic, and nighttime light data. By comparing the competitiveness of cultivated land, construction land and ecological land, we then derived the spatiotemporal patterns of potential land use conflicts. Actual land use changes supported the hypothesis that land use tended to convert into the type with higher competitiveness at areas with intense conflict, which better indicated that our assessment model was effective. The results showed that the potential land use conflict was more acute in the central and northwest but weak in the southeast and northeast, and its pattern showed a significantly positive spatial autocorrelation. The conflict between cultivated land and construction land was most prominent and mainly occurred in the transitional zone from urban to rural areas. Rapid urban development and water shortage were the main causes of the potential land use conflict. Assessing land use multi-functions and making a tradeoff among ecological, economic, and social services will be an effective way to guide future land use to solve land use conflict. Our research provides scientific evidence for sustainable land use planning and management in the arid areas.     

自恋领导对下属绩效的影响研究：基于关系视角

近年来,在领导特质研究领域,自恋领导得到了学者的广泛关注。尽管现有研究探讨了自恋领导对下属的影响效果,但鲜有研究从领导与下属人际互动视角揭示自恋领导的作用机制。本研究基于领导特质过程模型和权威互补理论,探讨自恋领导对下属绩效的影响,并挖掘其内在影响机制以及作用边界条件。通过对一家保险公司进行多时点、多来源的问卷调查,研究结果表明：自恋领导对下属绩效具有显著的负向影响；关系冲突在其中起中介作用；下属权力距离负向调节了自恋领导与关系冲突之间的正向关系,即下属权力距离越低,自恋领导与关系冲突的正向关系越强,反之则越弱。此外,当下属权力距离较低时,关系冲突的中介作用更强,反之则被削弱。     

年轻高管与企业股价崩盘风险：来自“代理冲突观”的证据*

在企业纷纷实施高管年轻化战略的背景下，本文从股价崩盘风险的视角分析和检验了年轻高管风险偏好的经济后果及其作用机理。本文基于“个体认知观”和“代理冲突观”展开理论推演，采用中国沪深A股非金融上市公司的数据，检验发现，年轻高管会显著加剧企业未来的股价崩盘风险，且这种影响主要存在于民营企业，在国有企业并不显著。进一步针对具体作用机制的检验发现，年轻高管在投资决策中选择了更多能迅速提升个人收益的风险性投资项目，但在不能迅速提升个人收益的风险性投资项目上与年长高管没有显著差异。同时，年轻高管对股价崩盘风险的加剧效应仅仅存在于高管在上市公司领取薪酬的样本企业，且更高的独立董事比例能显著抑制年轻高管的股价崩盘风险加剧效应。这表明，年轻高管个体认知层面的风险偏好被其追求个人私利最大化的代理冲突所扭曲，进而为年轻高管风险偏好的“代理冲突观”提供了实证证据。     

Climate for conflict management,exposure to workplace bullying and work engagement: a moderated mediation analysis

The present study investigates a potential preventive factor in relation to workplace bullying. Specifically, we examine how climate for conflict management (CCM) may be related to less bullying, increased work engagement, as well as whether CCM is a moderator in the bullying engagement relationship. The study was based on a cross-sectional survey among employees in a transport company (N = 312). Hypotheses were tested simultaneously in a moderated mediation analysis which showed that bullying and job engagement were related (H1), CCM was related to less reports of bullying (H2), CCM was related to work engagement (H3) and that CCM was indirectly related to job engagement through bullying (H4), but only when CCM was weak (H5). That is, CCM moderated the relationship between bullying and work engagement in that this relationship only existed when CCM was low. The present study contributes to theory within this research field by showing that organizational measures may not only prevent bullying, but may also affect how employees react when subjected to bullying. Furthermore, the effect of climate in relation to bullying may be down to the narrow bandwidth facet of CCM. The study informs employers how they may act to prevent bullying while also reducing the potential negative outcomes of those cases of bullying that inevitably will show up from time to time.