Analysts’ annual earnings forecasts and changes to the I/B/E/S database

Review of Accounting Studies - I/B/E/S is a common source of analyst earnings forecast data, and the reliability of these data is important for practice and academic research. Examining a common...     

Time series copulas for heteroskedastic data

We propose parametric copulas that capture serial dependence in stationary heteroskedastic time series. We suggest copulas for first‐order Markov series, and then extend them to higher orders and multivariate series. We derive the copula of a volatility proxy, based on which we propose new measures of volatility dependence, including co‐movement and spillover in multivariate series. In general, these depend upon the marginal distributions of the series. Using exchange rate returns, we show that the resulting copula models can capture their marginal distributions more accurately than univariate and multivariate generalized autoregressive conditional heteroskedasticity models, and produce more accurate value‐at‐risk forecasts.     

One village,one product: Agro‐industrial village corporatism in contemporary China

This paper investigates the implementation of “one village, one product” (OVOP) in four peri‐urban villages in China's Yangtze River Delta. China's agricultural transformation, including the introduction of new corporate actors and the growing pressure of market discipline, has challenged the relevance of villages in the organization of agricultural production. In response, village cadres in thousands of Chinese villages have used OVOP to transform their villages into agro‐industrial firms and re‐exert their control over the agricultural surplus, echoing earlier examples of village corporatism. Rooted in agricultural specialization, OVOP encompasses a diversity of strategies for the production of locality‐based value. I disaggregate these strategies into four sociospatial dimensions that comprise locality—place, network, territory, and scale. Place‐based branding is the dominant strategy, but village cadres also pursue complementary sociospatial strategies to ensure their control over the realization of the brand's value and reconstitute their redistributive and administrative powers.     

Efficiency and Ethically Responsible Management

One common justification for the pursuit of profit by business firms within a market economy is that profit is not an end in itself but a means to more efficiently produce and allocate resources. Profit, in short, is a mechanism that serves the market’s purpose of producing Pareto superior outcomes for society. This discussion examines whether such a justification, if correct, requires business managers to remain attentive to how their firm’s operation impacts the market’s purpose. In particular, it is argued that the value of efficiency, despite views to the contrary, cannot be fully separated from the planning and intentions of business managers as long as those managers direct their firms in an ethically responsible fashion. This position is inspired by, and serves as a supportive clarification of Joseph Heath’s so-called “market failures approach” to business ethics.     

Food fraud: economic insights into the dark side of incentives

In this review, we contextualise the articles in this special issue, relating them to existing food fraud research, and identify food fraud research trends, challenges and priorities for the near term. We accomplish these aims through a comprehensive review of research by food scientists, economists, other social scientists, legal experts, government research groups and international trade organisations. Existing food fraud research is heavily weighted towards food science, packaging and labelling, and legal areas of knowledge discovery. Moving forward, research is needed pertaining to general economic welfare outcomes from food fraud incidences, economic incentives to deter frauds, economic spillovers from fraud incidences to other food products and markets (domestic and international) and further delineation of the effect of different types of food fraud on consumer and producer welfare. The articles in this special issue make significant contributions to understanding of the role of food fraud in consumer decisions, measuring consumer welfare losses from fraud, food fraud spillover effects to other markets and new frameworks for fraud analysis.     

Innovation and performance in the hotel industry

The growing competition in the hotel industry is one of the main challenges of this segment, which increasingly depends on the ability to innovate. Thus, this article aims to analyze the impact of innovation on the performance of employees and hotel organizations. This is an exploratory study, with a quantitative approach using a structured computer-administered questionnaire to 73 managers of hotel chains, located in Brazil, which correspond to 792 hotels. Data analysis used multiple linear regression method with SPSS software to find out the relationship between the factors of innovation (communication, processes, leadership, and strategy) and the performance of employees and hotel organizations. Results show that the factors of communication, leadership, and strategy directly influence the performance of the employees. However, only the leadership factor directly affects the performance of hotel organizations.     

Understanding hospital quality: the case of cumulative and balanced quality

A more precise way to conceptualize and operationalize hospital quality is needed to increase hospitals’ productivity. This paper investigates how hospitals’ conformance quality (CQ) and experiential quality (EQ), in terms of their combined magnitude (i.e. their interaction) and relative balance (i.e. the absolute difference between them) impact hospital productivity. First, we explore the impact of both the ‘combined dimension of quality’ and ‘balance dimension of quality’ on hospital productivity. Second, we investigate quality dominance to analyze its impact on productivity when CQ is greater than EQ, and vice versa. Secondary data (January 2015 to December 2015) were collected from the Centers for Medicare and Medicaid Services and American Hospital Directory (AHD) for US acute care hospitals. The results provide strong empirical support for the benefit of minimizing the gap between the two types of quality. In addition, the results suggest that considering quality dominance (experiential vs. conformance) might be useful in shedding light on the inherent tension that exists when firms are forced to allocate resources to provide different types of quality simultaneously.     

The adequacy of measures of gender roles attitudes: a review of current measures in omnibus surveys

The measures of attitudes toward gender roles included in many representative international and national omnibus surveys were developed mostly in the 1970s and 1980s with a focus on the male breadwinner model. This article deals with the issue of whether the measures provided in these omnibus surveys need to be adjusted to specific social changes. A review of these measures has found that adjustments have occurred in a limited way that focused on the role of women and disregarded the role of men. Furthermore, most of these measures only examined the traditional roles of men and women. More egalitarian role models have not been considered sufficiently. In addition, most items that have been measured are phrased in a general form and, for example, do not specify parents’ employment or the ages of children. A specification of these aspects of measurement would help to clarify the conceptual meaning of the results and increase the possibility of more accurately analyzing gender role attitudes over time.