The Effect Of Advertising Content Control On Advertising Effectiveness In The Different Forced Exposure Circumstance

With advances in new technology, various formats of online advertising (e.g., in-stream video advertising) often force e-consumers to watch the advertisement during their goal-oriented activities, and this advertising interruption often makes them feel intruded upon and irritated. To reduce such negative reactions toward involuntary advertising exposures, this study examines whether offering e-consumers the option to choose advertising content can influence ad effectiveness in different degrees of forced exposure circumstance. Using a 2 (advertising content control: customization option vs. no option) × 2 (level of forced exposure: pre-rolls vs. rich media banners) factorial experiment, the researcher noted that advertising customization features generate a greater sense of relevance and increased advertising memory, which in turn may lead to more positive attitudes toward the ad regardless of the levels of forced exposure. The findings have theoretical and practical implications on the use of involuntary advertising interruptions in the web interface.     

Enhanced Special Drawing Rights: How China Could Contribute to a Reformed International Monetary Architecture

Since the end of the Bretton Woods era, the world has operated on a de facto system of free‐floating exchange rates, with the US dollar as the dominant international currency. The system, characterized by large pro‐cyclical capital flows and chronic imbalances, is inherently unstable, and has contributed to repeated crises, recessions and geopolitical tensions. One potentially “least‐difficult” line of reform would be to allow the evolution of a multi‐currency system, underpinned by an expanded role for Special Drawing Rights (SDRs). Attempts to promote wider use of the SDR have foundered on the liquidity premium. However, for Chinese corporations and institutions, at present restricted in their capital account activities, the SDR liquidity premium would appear less daunting. The Chinese authorities could provide policy encouragement for the use of SDRs by their institutions. This initiative, supported by China's Special Administrative Region Hong Kong, would kick‐start an international SDR ecosystem, and encourage even broader use of SDRs, to the benefit of international monetary stability.     

The major determinants of logistic performance in a global perspective: evidence from panel data analysis

The global logistics industry has grown significantly and logistics has become an important sector of the business economic system and a major global economic activity in recent years. Logistics activities accelerate economic and productivity growth. Efficient logistics is also important to a country’s competitiveness and source of employment. The purpose of this paper is to uncover and understand the major determinants of logistics performance (LP) to further lift the LP of countries. Using unbalanced panel data of 93 selected countries from 2007 to 2014, the present research attempts to critically investigate the major determinants of LP. In estimating the model, this study prefers to use static panel data approach owing to limited data. The findings of the present study reveal that (a) countries with low level of corruption and stable political environment are likely to yield a high level of LP; (b) improvement in resources supply such as infrastructure, technology, labour, and education also have a significant positive effect on LP. Therefore, institutional reforms and upgrading resources will effectively accelerate LP.     

Uncertainty,Control, and Karl Polanyi’s Protective Response

Post-Keynesian institutionalist economists like Wallace Peterson and John Kenneth Galbraith recognized that the impact of uncertainty on economic wellbeing depends in part on the degree of control people have over the sources and consequences of it. Given the inability of government and other large institutions to reduce uncertainty or to provide citizens with the ability to manage it, mediating structures are considered as an alternative means of promoting economic security. The article concludes by describing and evaluating several of these alternatives.     

Assessing the role of components of life satisfaction

Factors affecting subjective well-being and their gross effect measurement have been widely studied. However, how people derive utility from these factors has not been fully explored. This article provides a way to decompose the gross effect of major determinants on life satisfaction into direct and indirect effects and make inference for the latter. Because the indirect effect is nonlinear in parameters associated with different models in an equation system, it creates a problem in estimating the standard error. Besides, the categorical nature in survey data further introduces bias to the covariance estimation even asymptotically. To address these issues without knowing the form of heteroskedasticity under the null hypothesis, we propose to extend the wild bootstrap procedure in this particular context. Its robustness against various data properties is validated via several simulation experiments. Using three recent waves of World Values Survey, we find that the relative importance of life control has significantly increased recently, and endowing citizens with the right to enjoy their freedoms and liberties is a more effective policy in raising life satisfaction than promoting national income.     

Central bank disclosure as a macroprudential tool for financial stability

The Basel Capital Accord (pillar 3) states that disclosure of information (transparency) is essential to financial stability. This study analyzes, through inflation reports, the disclosure of information from the Central Bank of Brazil concerning the credit market. We consider credit risk and capital buffers as measures of financial stability in this analysis. Furthermore, in order to measure the perception of the monetary authority on the credit market, we built two indices based on the central bank’s communication on credit development. We performed a panel data analysis based on a sample of 125 banks for the period from June 1999 to September 2014 (7000 observations). The findings suggest that central bank communication regarding expectations concerning the credit market contributes to financial stability. Therefore, this kind of communication of central banks (about credit development) may constitute an important macroprudential tool to improve financial stability.     

Does gender matter? The association between gender and the use of management control systems and performance measures

Literature shows that female (male) managers are more likely to adopt a transformational (transactional) leadership style, as well as make greater (lesser) use of information for decision-making. We draw on this research to investigate whether gender is related to a manager's use of management control systems (MCS) and performance measures. We surveyed the head of school of all schools across all Australian public universities. Our results indicate that females use MCS in an interactive manner to a greater extent than their male counterparts and make greater use of non-financial performance measures. We conclude with contributions to theory and practice.     

基于西门子PLC除尘器粉尘防爆危险源信号检测及预警系统的研究

研发适用于滤袋式除尘器粉尘爆炸危险源信号的实时检测及预警系统。该系统综合应用工业控制、PLC控制、智能测控终端无线传输、云平台数据管理等技术。采用传感器分别监测除尘器运行时的进出风口压差、除尘器运行状态、高压脉冲喷吹压力和箱体温度。当监测信号不在系统预设的合理范围时,PLC输出就地预警信号,监测信号也可通过无线传输模块上传到云平台。运用云平台的数据分析功能,实现除尘器运行状态系统化监测和综合管理。     

Direct intervention or indirect support? The effects of cooperative control measures on farmers’ implementation of quality and safety standards

In recent years, labor-intensive agricultural products from developing countries have exhibited inferior performance in international trade due to quality and safety incidents, among which pesticide residue is a major issue. Aiming to improve food quality and safety in the context of cooperatives, we introduced three categories of control measures: outcome control, process control and social control. Based on the Pre-Harvest Interval Standard (PHIS), we selected three indices, farmers’ implementation rate of PHIS, absolute distance to PHIS and relative distance to PHIS, to evaluate appropriateness of pesticides use, reduction of pesticide residue and safety improvements of agricultural products. By using random sampling survey data, we empirically analyzed the marginal effects of control measures and their combinations on food quality and safety standards. The empirical results show that implementing process control, namely, unified production standards or supply of unified agricultural inputs, can comprehensively improve farmers’ implementation rate of PHIS, absolute distance and relative distance to PHIS respectively by 34.9%, 3.2 days and 46.0% on average. While the effects of outcome control (safety inspection) and social control (bonus-penalty incentive or training) are restricted to other measures. Therefore, we suggest cooperatives should take farmers’ features, implementation conditions and the effects of control measures into consideration in order to make a sustainable management plan for improving food quality and safety and enhancing competitiveness in international markets.     

Life insurance decisions under recursive utility

In this paper, we generalize recursive utility to include lifetime uncertainty and utility from bequest. The generalization applies to discrete-time as well as continuous-time recursive utility, and it is an important step forward in the development of recursive utility. We formalize the problem of optimal consumption, investment, and life insurance choice under recursive utility, and we state a verification theorem with a generalized Hamilton-Jacobi-Bellman equation. Our generalization of recursive utility allows us to study optimal consumption, investment, and life insurance choice under separation of (market) risk aversion, elasticity of inter-temporal substitution, and elasticity of substitution between bequest and future utility. The separation gives rise to hump-shaped consumption patterns as observed in realized consumption.