Information and Knowledge as Antecedents of Consumer Attitudes and Intentions to Buy and Recommend Fair-Trade Products

The authors propose and empirically test a causal model to understand how the availability of fair-trade information and consumer knowledge about this issue affect consumers’ attitudes and intentions toward fair-trade products. The model is built upon the attitude-behavior paradigm and the premises of agency theory. It is tested through structural equation modeling with a sample of 292 Spanish consumers. The findings are that consumers do not have good knowledge about fair trade and that this is significantly determined by the lack of information about this in the market. It is also observed that consumers’ perceptions about the availability of fair-trade information have negative effects on their concern about this issue and that such information as is available is not effective in reducing consumer skepticism. The research represents an extension of previous fair-trade literature because the role of information and communication in improving consumer attitudes and buying intentions has rarely been explored in the case of ethical products.     

Corporate brand strategy: Drivers and outcomes of hotel industry’s brand orientation

The MNC resellers are vastly competitive and capital-intensive. Based on the corporate brand orientation, the objective is to investigate how the individual dimensions of hotel industry’s brand orientation can improve a corporate experience and subsequently create superior hotel performance and retailer preferences. A model of the integration of the hotel industry’s brand orientation was tested in a survey conducted among MNC resellers from hospitality industry. Structural equation modelling was applied to gain insight into the various influences and relationships. The research makes two main contributions. It makes a theoretical contribution by classifying the integration of the hotel industry’s brand orientation for hospitality industry and from this extrapolate key suggestions for further study. The continuous evolution and economic influence of the hospitality industry require the application of innovative marketing practices.     

提振消费要关注政策偏好的社会结构效应

新冠肺炎疫情爆发之后,人们非常关注通过提振消费来防止经济出现大幅度下滑。事实上,提振消费政策同时也具有社会政策属性。调查表明,在双循环背景下,通过社会政策维持一定的生计方式,并保持人们的消费水平具有重要意义。从对企业家FR、小手工业者BF与房屋中介LC的访谈资料以及在麓村、唐村的调查情况来看,人们在理解提振消费政策时具有共同的叙事特征。叙事本身具有鲜明的政策偏好,其核心是一定空间背景下结构与利益的分配正义问题。而风险社会与低欲望社会特征的并存深刻地影响着提振消费政策的制定,是行动者要面对的情境。为此,需要从规则与制度、空间与代际等长期性和持续性的角度系统思考提振消费政策的受益对象与受益群体,防止政策偏好所带来的结构性挑战。     

Risk preference heterogeneity in group contests

We analyze the first model of a group contest with players that are heterogeneous in their risk preferences. In our model, individuals’ preferences are represented by a utility function exhibiting a generalized form of constant absolute risk aversion, allowing us to consider any combination of risk-averse, risk-neutral, and risk-loving players. We begin by proving equilibrium existence and uniqueness under both linear and convex investment costs. Then, we explore how the sorting of a compatible set of players by their risk attitudes into competing groups affects aggregate investment. With linear costs, a balanced sorting (i.e., minimizing the variance in risk attitudes across groups) always produces an aggregate investment level that is at least as high as an unbalanced sorting (i.e., maximizing the variance in risk attitudes across groups). Under convex costs, however, identifying which sorting is optimal is more nuanced and depends on preference and cost parameters.     

Do measurement-related fair value disclosures affect information asymmetry?

Using a sample of European real estate firms over the 2007–2010 period, this study provides some evidence that measurement-related fair value disclosures reduce information asymmetry. We find a negative association between the extent of fair value disclosures and the bid-ask spread, but no association with two additional measures of information asymmetry (zero returns and price impact). Contrary to our expectation, we fail to find evidence that firms using model estimates exclusively benefit the most from such additional disclosure. Analysing measurement errors (the absolute difference between the selling price of an asset and its fair value prior to sale), we find that firms that use model estimates exclusively and provide more measurement-related disclosures have lower errors and more accurate fair value estimates. In other words, if our lack of results is due to investors not using this additional disclosure this is to their detriment.     

重男轻女观念会加剧当地家族企业的机会主义动机吗——以家族企业上市公司为例

本文基于重男轻女观念的视角，探究地区文化是否会影响当地家族企业的机会主义动机。本文研究发现，重男轻女地区的家族企业更愿意安排男性家族成员担任CEO等重要职位，更多地引入家族成员参与企业经营。由于担心这种机会主义行为，外部投资者对当地家族企业的投资更为谨慎。本文从地区文化的视角阐释了家族企业的异质性，推动了已有研究从“家族企业与非家族企业有何不同”向“不同地区文化下的家族企业间有何不同”层面深入。     

Revealed preferences of individual players in sequential games

This paper studies rational choice behavior of a player in sequential games of perfect and complete information without an assumption that the other players who join the same games are rational. The model of individually rational choice is defined through a decomposition of the behavioral norm assumed in the subgame perfect equilibria, and we propose a set of axioms on collective choice behavior that characterize the individual rationality obtained as such. As the choice of subgame perfect equilibrium paths is a special case where all players involved in the choice environment are each individually rational, the paper offers testable characterizations of both individual rationality and collective rationality in sequential games.     

妇女家庭地位与代际人力资本投资

代际人力资本投资是经济增长的重要源泉。但实证显示，相较于男性而言女性更愿意将家庭资源配置在子女教育上。通过构建人力资本代际传递模型，从劳动生产率折旧率的角度解释女性对子代人力资本投资的偏好，并利用2014年中国家庭追踪调查数据、工具变量两阶段实证发现劳动生产率折旧率更高的女性当其家庭决策地位提升时，该家庭的代际人力资本投资比重将显著增加，且存在城乡差异。但是，不论城乡，男孩因未来劳动生产率更高而获得更多的人力资本投资，这表明针对妇女开展扶贫项目，提高妇女在家庭中的地位将更加有助于增加子代人力资本投资。     

Financing the sustainable management of Rwanda's protected areas

Rwanda's Nyungwe National Park is a biodiversity hotspot with the most endemic species in the ecoregion and the highest number of threatened species internationally. Nyungwe supplies critical ecosystem services to the Rwandan population including water provisioning and tourism services. Tourism in the Park has strong potential for financing enhanced visitor experiences and the sustainable management of the Park. This paper explores quantitatively the economic impacts of adjustment in Park visitation fees and tourism demand as a source of revenues to improve Park tourism opportunities and ongoing operations and maintenance. The methods developed in this paper are novel in integrating the results of stated preference techniques with a regional computable general equilibrium modelling approach to capture multisectoral, direct, indirect and induced impacts. Such methods have strong potential for assessing revenue generation alternatives in other contexts where park managers are faced with the need to generate additional revenue for sustainable park management while facing diminishing budget allocations. Results of this analysis demonstrate that adjustment of Park fees has a relatively small impact on the regional economy and well-being when compared with a strategy aimed at generating increased tourism demand through investment in improving the visitor experience at Nyungwe National Park.