Aesthetics of hotel photos and its impact on consumer engagement: A computer vision approach

Visual content has been an essential marketing approach to exerting enjoyable virtual experiences and inducing consumer engagement. However, despite the widespread acknowledgment of the importance of visual content, how would the exerted aesthetic perception affect consumer engagement is still unexplored. Adopting a deep convolutional neural network model, this study quantifies the aesthetics of thumbnail images and managerial photos of hotels and thereby explores the impact of hotel photo aesthetics on consumer engagement. Aesthetically enjoyable photos are shown effective not only to encourage more consumers to engage in word-of-mouth discussions but also to promote consumer ratings. Such impact is also significantly moderated by hotel price. This study illustrates a viable approach to probing the perceived aesthetics of visual content in the hospitality field, and the uncovered significant role of aesthetics highlights the necessity of further attention to the cognitive perceptions of visual marketing content in both theoretical research and practical management.     

Exploring the influence of tourists’ happiness on revisit intention in the context of Traditional Chinese Medicine cultural tourism

Based on how tourists interpret the destination experience and on attachment theory, this study investigates the influencing mechanism of tourists' happiness on revisit intention for traditional Chinese medicine (TCM) cultural tourism destinations. Three tourist samples confirm the three dimensions of tourists' happiness: positive emotions, engagement, and meaning. Two surveys were conducted to test the direct and indirect influence of tourists' happiness on revisit intention and the moderating role of tourists' health consciousness. The results show that tourists' happiness promotes memorable tourism experience and place attachment, in turn stimulating revisit intention. The results also support health consciousness as a significant moderator between happiness, place attachment, and revisit intention. The findings enrich theoretical understanding of tourists’ happiness and provide marketing and management advice for TCM cultural tourism destinations.     

协调发展战略下地方政府合作的动力机制探析--以深汕特别合作区为例

党的十九大报告首次提出区域协调发展战略,要求各地充分发挥比较优势,加强政府间合作,着力解决区域发展不平衡不充分的问题。深汕合作区正是实施这一战略的典型代表。其中,政府的战略政策导向、经济全球化、区域一体化和非政府组织的发展是合作区得以形成的主要外部动力;区域协调发展、产业结构调整、官员升迁诉求是内部动力。但是,在合作区发展的过程中也存在一定的阻力。如地方保护主义的抬头、利益博弈、市场运作的行政化。因此,为促进地方政府间良性合作,应不断强化合作的正向激励,降低合作的阻力,保证区域府际合作的长久性。     

Search efficiency,wage dynamics and welfare

Advances in information technology have improved the job-search process in the labor market. We analyze the effects of this improvement by constructing a search-and-matching model with two sectors: a risky sector with firm-specific productivity shocks and a risk-free sector. The risky sector is characterized by a low level of commitment between employers and workers – either party can end the employment relationship. We show that a better job-search process generates more job matches in the risky sector, and this benefits workers by improving their outside options. The effect on employers is subtle: while it is easier to fill vacancies, workers become more expensive. At the same time, the ease of finding new workers makes it harder for employers to keep their wage promises to workers and increases wage volatility. Our paper contributes to the literature by offering a novel explanation for the observed rise in wage volatility.     

A tale of two countries: Directed technical change,trade and migratory movements

We propose a North-South model that reconciles trade and production strategies, flows of innovators and the path of economic divergence, or convergence, between countries. We explain the mechanisms behind these forces and show how the technological and economic gaps can be reversed if southern countries stop imitating northern goods and, instead, produce complementary goods. Such a strategy of complementarity on production yields the necessary incentives to innovators to engage in research in southern countries, which enhances the catching-up process between countries. It is also shown that migratory movements of unskilled labor between countries are also relevant to understand the dangers and benefits of different trade strategies for economic growth. This paper suggests a positive (negative) correlation between technological innovation in the North (South) and the level of substitutability in production, while under complementarity, technological innovation catches up in the South, therefore fostering the economic catching up process. A positive correlation between inflows of skilled and unskilled labor and substitutability of production between countries is also verified.     

“强监督”还是“搭便车”：自然人大股东如何影响企业专利质量

通过构建改进的知识宽度法测算企业专利质量，并以2007—2016年中国沪深A股上市公司为样本，分析自然人大股东对企业专利质量的影响以及在不同类型企业中其作用的差异性。结果表明，作为“强力监督者”，自然人大股东能够促进企业专利质量提高。但因为其角色由“强监督”转变为“搭便车”，故这种促进作用在国有企业和具有政治关联的企业中并不存在。进一步研究表明，促进作用是通过加强对经理人和研发人员的监督，减少其控制权下投机性创新策略，提升其工作努力程度实现的。研究结论为促进国有企业与民营企业创新能力提升提供相应的政策启示。     

Credit stimulus and corporate excess employees

This study examines how the large and unexpected Chinese credit stimulus in 2008 affects firms' labor decision. Using a large sample of industrial firms, we find that state-owned enterprises tend to hire more employment than their counterparts after the credit stimulus. Mechanism analysis shows that the credit stimulus package is followed by lower financing costs and more bank loans for the state-owned enterprises, enhancing the degree of their excess employment compared with their counterparts. Moderating effect tests suggest that the overemployment effect is stronger in provinces with a high unemployment level, where the political leaders have stronger promotion incentives, in industries that are selected as the key stimulating industry, and in provinces with higher bank competition level, but weaker in provinces with higher marketization level. Finally, we find that the firm's overemployment caused by the credit stimulus plans decreases firm labor productivity. Overall, our findings shed light on how credit policy influence firms' labor decision and offer important implications for regulators.     

Performance effects of innovation in two-sided markets: The paradigmatic case of OTAs

Online Travel Agents (OTAs) play an important intermediary role in the two-sided travel distribution market. A critical factor that enhances a firm's competitive advantage is innovation. Yet, the analysis of innovation in the OTA context is scarce. The main objective of this article is to fill this gap and examine the effect of OTA innovations on firm performance. We analyze the effect of two-sided market specific innovations (same-side and cross-side) on performance and contribute to the literature by expanding the theoretical understanding of innovations. We find that producer-to-consumer innovations have a greater effect on OTA performance than producer-to-producer and consumer-to-consumer innovations. A fundamental managerial implication is that exchange management is an area to be enhanced when innovating in travel market distribution.     

Does air pollution change a firm's business strategy for employing capital and labor?

We examine the impact of air pollution on a firm's capital-labor ratio. We propose the hypothesis that, in dealing with air pollution, a firm responds strategically by using relatively more capital and less labor to contain labor costs and remain competitive in the market. Using a sample of Chinese firms and a satellite-based air pollution metric, we test this hypothesis, and our results confirm it. In addition, we document that the impact of air pollution on the capital-labor ratio is more salient for firms with high economic incentives and close monitoring. Further, we report that to respond to worsening air pollution, a firm uses more capital and substitutes lower-quality labor with more high-quality labor. Finally, after increasing the capital-labor ratio, a firm's value increases, in terms of Tobin's Q, suggesting that the adoption of a higher capital-labor ratio, due to air pollution, is a sound business strategy.     

权力义务视角下完善向基层赋权的思考

2010年开始,向基层赋权作为行政体制改革的重要内容在全国范围铺开。从权力义务视角对其进行研究有现实的必要性。赋权的核心是行政权力的转移,以权力转移过程中涉及的诸要素为切入点,可以分析出多重权力关系和有关主体在其中的权力义务。在此基础上,通过保障行政相对人对于赋权的参与权、设计上级行政机关实施赋权的制度、消除上级行政机关赋权的依据问题和设计基层行政机关行使权力的制度等方式完善向基层赋权,既使行政机关能够有效推进行政体制改革,又能对行政权进行有效规范、保障行政相对人权利。