The Role of Ethical Standards in the Relationship Between Religious Social Norms and M&A Announcement Returns

Journal of Business Ethics - Prior studies suggest that firms headquartered in areas with strong religious social norms have higher ethical standards. In this study, we examine whether the ethical...     

经济带:新发展阶段的新愿景

经济带已成为承东启西、连南贯北的"经济主骨架",在国民经济整体格局中的战略地位日益凸显,对我国经济发展具有重大战略意义.经济带的形成有其深刻的理论基础和现实条件,我国"两横"——长江经济带和陇海兰新经济带,以及"三纵"——沿海经济带、京广京哈经济带、包昆经济带五条经济带,需要进一步集聚经济要素,破除要素流动壁垒,提升节点城市能级,推动区域经济合作,以经济带建设推动我国经济高质量发展.     

Cross-national differences in stakeholder management: Applying institutional theory and comparative capitalism framework

Drawing upon the research in institutional theory and comparative capitalism, the present study investigates how cross-national differences in the political, business, and economic institutional contexts of the United States, Italy, and Japan are associated with the ways in which companies in each of these countries prioritize and engage in their stakeholder engagement activities (SEAs). Using Porter and Kramer's framework, which classifies corporate social responsibility (CSR) activities as falling into four categories (good citizenship, mitigating harm from value chain, transforming value chain activities, and strategic philanthropy), we investigate how companies in the United States, Japan, and Italy prioritize and engage in these four SEAs. An analysis of data collected from 340 companies across these countries reveals that while companies in each of these three countries undertake the four types of SEAs, the prioritization and prevalence of the four types of SEAs vary from one country to the other, in ways that align with the prevailing institutional contexts of each country. The results contribute to a more nuanced understanding of why and how companies' approaches to CSR differ across countries. From a practitioner's perspective, the findings highlight the cultural specificity of CSR, implying that despite the global nature of CSR, the implementation of CSR needs to be tailored to a country's context.     

The influencing factors of satisfaction and lending intention in online lending investment: an empirical study based on the Chinese market

This paper develops a platform‐based influencing factors model which considers value perception, risk prevention measure, non‐default experience, trust and incentive gap, to better examine the impact of platforms on investors’ satisfaction and lending intention based on the Chinese market. The results reveal that the first four factors positively influence the satisfaction of the investors, while the incentive gap has a negative impact, and there is a positive association between investors’ satisfaction and lending intention. Some specific features of China’s online lending market are identified, which provides valuable insights for online lending platforms and the government.     

Impulse response function analysis of the impacts of land value-added tax policy on government performance

In this study, an epsilon-based network data envelopment analysis is employed to construct assessment mechanisms for government performance. Moreover, performance indicators of two dimensions of tax collection efficiency and financial effectiveness are measured. We propose a vector autoregression model in which all economic variables are regarded as dependent variables to address the disadvantages of traditional regression model. The conclusions are as follows: (a) measures of tax collection efficiency deteriorated, whereas those of financial effectiveness improved. (b) In an impulse response analysis of the model, an increase in government-published land values produced significantly increased tax collection efficiency.     

Determinants of students’ entrepreneurial intention to compete in a fast-pitch competition

Despite the heightened popularity of entrepreneurship education, there remain open questions regarding best practices in co-curricular programs. Using the theory of planned behavior, the authors examine how students’ intention is shaped to increase the likelihood of participation in entrepreneurship co-curricular programs. To the best of the authors’ knowledge, this study is the first to examine the relation between entrepreneurial identity and entrepreneurial intention theory. They find the popular personality trait, openness, is related to ambition, which reveals the interaction between personal elements (personality/identity) and contextual elements (aspirations to success/intention), a novel finding in the literature. This further illustrates the interconnectedness between the theory of planned behavior and the entrepreneurial event model     

Catch Animal Spirits in Auction: Evidence from New Zealand Property Market

Following the animal spirits theory proposed by Akerlof and Shiller, this article contributes to behavior economics by investigating the possibility of using auction sales data to capture evidence of irrational exuberance in the housing market. Using the monthly percentages of residential property auction sales for Auckland, Wellington and Christchurch regions in New Zealand from 2006 to 2015, and the exuberance testing method proposed by Phillips, Shi and Yu, we find that animal spirits have been developing in the Auckland housing market since 2013, but not in other regions. When compared to the results based on price‐to‐rent ratios, auction sales provide more meaningful results for identifying market‐wide irrational exuberance at an early stage. The causality test on price‐to‐rent ratios and auction sales volume shows that asset prices and animal spirits influence each other in the short run. In the long run, prices have significant effect on animal spirits, but not vice versa.     

Regional economic performance in China1

This paper investigates convergence patterns among China's provinces using GDP data for the period 1952–97. We analyze convergence behaviour on the basis of Markov chains proposed by Quah (1993 ) and the generalized entropy decomposition proposed by Shorrocks (1980, 1984 ). Both sets of results show similar evidence of convergence within the pre‐defined geo‐economic sub‐regions, but no evidence is found of convergence between the sub‐regions. This finding has important policy implications for regional economic development in China. JEL classification: C33, E20, O47.     

国有商业银行经营绩效的超产权理论分析

超产权论在产权制度改革的基础上提出了竞争和市场结构对企业治理机制改善的作用.我们把超产权理论的企业产权、竞争、治理机制与绩效相互关系模型引入国有商业银行中,建立市场竞争状态下国有商业银行产权、竞争、治理机制和绩效的理论模型.要提高国有商业银行的经营绩效,构建竞争性的银行体系是关键;竞争绩效的产生还有赖于市场的完善和市场得以有序运作的制度结构的建立与完善.     

如何搞好农村消费市场的调查

从农村消费市场调查的实际出发, 文章介绍了农村消费品市场调查在调查方法的选取、人员的培训、资料的获取等方面存在的一些问题及应注意的事项, 并分析了农村消费市场调查过程中存在的问题以及所造成的调查结果的特定性。为企业进行农村消费品市场的调查提供借鉴, 以便更有效地进行调查。