Adverse effect of social media on generation Z user's behavior: Government information support as a moderating variable

Social media emerged as a primary source of information among young users, but its severe effect on mental state due to information overload, still an area of concern for the researchers. Generation Z users' addiction to the mobile phone/gadgets is increasing with a rise in social media and consequently their behavioral outcomes have transformed completely. Nowadays behavioral issues including stress, fatigue, ‘fear of missing out’ and ‘phubbing’, anxiety etc. rising each day but the relationship among these issues and information overload is less examined. The social media users are unable to filter the trustworthy information due to its enormous size and thus role of information support from government becomes essential. The current study extends the S-O-R theory exploring relationship between the stimulus of enormous information on the responses generated among the Generation Z such as social media fatigue, ‘fear of missing out’, ‘phubbing’ and anxiety. The findings from a sample of 319 users belonging to Generation Z suggest that social media platforms need to understand user's compulsive usage that is resulting into fatigue and consequently anxiety. The role of government information support on reducing fatigue and anxiety is found to be positive. The relationship between ‘fear of missing out’, ‘phubbing’ and anxiety is found significant and shows presence of partial mediation. The study offers significant theoretical and practical implications. It is significant for the service providers and social media platforms to advance interfaces with minimum fatigue for the users and offers information support to the users to reduce stress caused by information load.     

Mining semantic features in current reports for financial distress prediction: Empirical evidence from unlisted public firms in China

It is difficult to predict the financial distress of unlisted public firms due to their longer disclosure cycle of accounting information and more inadequate continuity of market trading information compared to listed firms. In this paper, we propose a framework to predict the financial distress of unlisted public firms using current reports. Specifically, to better represent the meaning of current report texts, we propose a semantic feature extraction method based on a word embedding technology. Empirical results show that current reports contain more effective information for predicting the financial distress of unlisted public firms compared with periodic reports. In addition, semantic features extracted using our proposed method significantly improve the predictive performance, and their enhancing effect is superior to that of topic features and sentiment features. Our study also provides implications for stakeholders such as investors and creditors.     

Antecedents of mobile payment loyalty: An extended perspective of perceived value and information system success model

Drawing on the information system success model and perceived value theory, we develop a research model to examine factors that may affect user satisfaction and loyalty of mobile payment platforms. Empirical data was collected from users using Alipay and WeChat Pay in China, and a total of 410 valid responses were gathered for data analysis. The results show that the multi-dimensional formative perceived value including benefits and sacrifice is important determinant of mobile payment user satisfaction and loyalty. The three benefit dimensions of functional value, experiential value and social value are more important value components than the two sacrifice dimensions of risk and cost, and experiential value is the dominant component of mobile payment users' value perception. As for the antecedents of perceived value, system quality and service quality mainly affect perceived benefits, while information quality has a greater impact on risk. The research results provide the contribution of specific value dimensions to users' perceived value and the impact of quality characteristics on specific perceived value for mobile payment platform providers, thus helping them to adopt effective strategies to strengthen market competitiveness and retain existing users.     

Can information and communication overload influence smartphone app users' social network exhaustion,privacy invasion and discontinuance intention? A cognition-affect-conation approach

Thanks to the expansion of network technologies and the coupling of smartphone hardware, younger generations have unparalleled access to a diverse range of information and interactive communication opportunities. Despite voluminous research on the causes of social network exhaustion and privacy invasion, limited academic attention has been devoted to understanding the driving forces and contributing factors for discontinuing usage of smartphone app. Drawing on the cognition-affect-conation paradigm, the present research proposes a conceptual research model to examine how information overload and communication overload effect social network exhaustion, privacy invasion, and ultimately, smartphone app users' intentions to discontinue usage. The study evaluates data from 442 smartphone app users, employing statistical analyses to demonstrate that both information overload and communication overload significantly impact users' exhaustion and privacy invasion. Additionally, social network exhaustion and privacy invasion are two major predictors of smartphone app discontinuance intention. By identifying the influential factors and causes of younger generations' discontinuous usage intention of smartphone app, this study meets the need for a thorough assessment of the social network exhaustion and privacy invasion phenomena. The findings may potentially enhance comprehension of the discontinuation intention phenomenon in the context of cognitive overload. Furthermore, they may provide novel insights for practitioners regarding effective strategies conducive to managing mobile social network adoption behavior, as well as the preservation of engagement levels among young users in mobile-saturated societies.     

Uncertainty perception in bidding for Product-Service Systems under competition

This research investigates what impact of uncertainty perception arising from the existence of competition has on the pricing decision for Product-Service Systems (PSS) under uncertainty. PSS provision is an increasingly important area for many businesses and competition increases cognitive pressures on providers even further. We present an experimental study with industrial costing and bidding experts from the defence and aerospace sector. The study consisted of an experimental set-up via two questionnaires which differed in the existence of competition in the bidding scenario. The findings showed that bidding decision makers changed their evaluation of the cost estimate due to the introduction of competition but kept their evaluations of the profit margin and price bids constant. Furthermore, the participants listed the relevant sources of uncertainty that influenced their decision-making process. This research contributes to the literature in two ways. First, our findings showed that predictions from current theory regarding decision-making of cost estimation and pricing are not confirmed when competitively bidding for PSS. Second, we show uncertainty sources that influenced the decision makers and identified p the importance of internal processes of the PSS provider and environmental uncertainty.     

家族控制与企业创新投入

家族企业对社会情感财富目标的追求是其区别于非家族企业的重要特性，社会情感财富目标与企业经济利益间冲突对企业R&D投入的影响不容忽视。以社会情感财富为理论基础，基于573家上市家族企业2011-2015年的面板数据，分析受市场化程度影响时，家族涉入情境下信息透明度对企业R&D投入的影响。结果显示：信息透明度可以有效缓解信息不对称和代理冲突，促进企业R&D投入；家族控制对R&D投入有消极影响；当企业信息透明度较高时，会抑制家族所有者为个人谋取私利的动机，进而增强其对企业R&D投资的积极作用。在市场化程度更高、产权保护力度较大的地区，信息透明度会缓解家族控制权对R&D投入的消极作用。     

Reverse Payments and Risk of Bankruptcy Under Private Information

Abstract

In the pharmaceutical industry, a reverse payment (pay-for-delay) is a payment from an originator to a generic producer to delay her entry. In some recent cases, the US and EU antitrust authorities have banned these agreements per se, while in others they have used a rule of reason. This paper analyzes their dynamic effects and shows that a ban per se may reduce consumer surplus when the generic producer may go bankrupt and her financial situation is private information. Reverse payments are more beneficial when competition among few players is soft, the economy is in a downturn, and the period of drug usage after patent expiry is long. Results suggest that a rule of reason is more suited than a ban per se.     

Strategic insider trading around earnings announcements in Australia

This paper tests, within the Australian setting, whether directors strategically time trades in their own firms, around earnings announcements, in the context of impediments to trading in the immediately preceding period. I show that both signed and unsigned trade activity are insignificantly different from zero in the preceding period, and significantly negative and positive after the event. Further, directors in Australia significantly sell following positive earnings news, and buy after negative news, providing evidence of ‘indirect’ trading. Directors’ trades in the longer-term pre-announcement period are also negatively related to the news content sentiment, contrary to expectation. Finally, I find evidence of positive autocorrelation between directors’ trades over the longer-term past, and those executed after earnings announcements, which, in the absence of the ‘short-swing’ rule in Australia, casts doubt over short-term strategic insider trading, more generally.     

Turning local: Home-bias dynamics of relocating foreigners

Using comprehensive data from Denmark, we study private investors’ preferences for domestic stocks. We compare the equity home bias of foreigners recently relocated to Denmark to the equity home bias of other investors. We find that home bias of recently relocated foreigners is lower than home bias of other investors. Our main result is that when relocated foreigners’ duration of stay increases, their home bias also increases. After 7–8 years, home bias of relocated foreigners does not differ from home bias of other investors. Our results imply that familiarity with domestic stocks develops dynamically with the length of stay in a given country. We discuss implications for explanations of the home-bias puzzle building on information asymmetries.     

Information asymmetry in the innovation adoption decision of tourism and hospitality SMEs in emerging markets: A mixed-method analysis

Investment decisions, particularly innovation adoption decisions, can sustain long-term viability of small and medium enterprises (SMEs). However, information asymmetry could limit the ability of SME management to make informed innovation adoption decisions. Even though information asymmetry is a multidimensional construct, prior literature has only focused on financial information asymmetry in such decisions. Therefore, the current study fills the research gap by conducting two separate studies: one analyzes World Bank Group data from 1250 observations in 11 emerging markets, and the other interviews eight SME owners and managers. The findings of the mixed-method studies suggest that financial, business regulation, and court information asymmetry decrease the likelihood of SMEs' product innovation adoption. The study contributes to a more comprehensive understanding of information asymmetry in SMEs’ decision-making rooted in agency theory. Moreover, its methodological contribution lies in measuring information asymmetry with micro-level data.