Does educational diversity of managers matter for the performance of team‐managed funds?

We study the effect of the educational diversity of managers on the performance of team‐managed mutual funds using a large sample of U.S. equity funds from 1994 to 2013. We consider diversity in terms of both final educational degree and field of educational specialisation. We find that, in general, both types of diversity have a positive impact on fund performance, and our results are robust over a wide range of performance metrics and changes in market conditions.     

Unfolding the impact of leadership and management on sustainability performance: Green and lean practices and guanxi as the dual mediators

This study aims to empirically evaluate the predictors that influence sustainability performance among manufacturing firms. Leadership and management, green and lean practices, and guanxi were examined to determine whether these predictors are directly and/or indirectly affecting sustainability performance; 160 valid responses were collected and partial-least-squares-structural-equation-modeling (PLS-SEM) was used to analyze the data. The results showed that leadership and management positively influenced green and lean practices and green and lean practices positively influenced sustainability performance. Leadership and management also positively influenced guanxi. Interestingly, leadership and management and guanxi do not exert a significant direct influence on sustainability performance. The findings contributed to the development of the resource-based-view theory further by empirically exploring the significance of leadership and management coupled with green and lean practices as competencies and capability to drive sustainability performance. The testing of the dual mediators' effects further added value to this study.     

Contracting and Reporting Conservatism around a Change in Fiduciary Duties*

We exploit an influential 1991 Delaware court ruling to examine simultaneously two types of conservatism that play important roles in resolving creditor–owner agency conflicts: contracting conservatism and reporting conservatism. The ruling expanded managerial fiduciary duties in favor of creditors for Delaware-incorporated firms in the vicinity of insolvency. In those firms, following the ruling, debt contracts are less likely to include conservative adjustments to accounting numbers used for covenant compliance (i.e., contracting conservatism decreases), while public financial reporting becomes more conservative (i.e., reporting conservatism increases). The decrease in contracting conservatism is concentrated in firms that exhibit a greater increase in reporting conservatism, suggesting that reporting conservatism is more cost-effective in resolving agency conflicts. In addition, the substitution effect is more pronounced in firms facing greater business uncertainty and firms with greater board independence.     

Abuse of Market Dominance Under China’s Anti-Monopoly Law: The Case of Tetra Pak

Review of Industrial Organization - In this paper, we analyze a recent antitrust case of abuse of dominance that was decided by a Chinese administrative enforcement agency under China’s...     

Non-GAAP reporting following debt covenant violations

Review of Accounting Studies - We investigate whether firms change their non-GAAP reporting practices after debt covenant violations. We find that the likelihood that a firm will disclose non-GAAP...     

When Do Qualitative Risk Disclosures Backfire? The Effects of a Mismatch in Hedge Disclosure Formats on Investors' Judgments

Disclosure standards mandate the quantitative disclosure of hedging‐instrument‐related risks but not the disclosure of hedged‐item‐related risks. We examine how a match (mismatch) in formats, caused by making quantitative (qualitative) hedged item disclosures alongside quantitative hedging instrument disclosures, affects investors' integration of information from these two related disclosures. Our first experiment varies the hedged item disclosure format (quantitative or qualitative) and the portion of risk hedged (small or large). We find that when disclosure formats are mismatched, the less comparable nature of the two disclosures caused investors to neglect the offsetting relationship when assessing net risks. As a result, risk and investment judgments were influenced by the more prominent quantitative hedging instrument disclosures. Our second experiment finds that the use of a qualitative debiaser that clarifies the relationship between the two disclosures led to the integration of information and mitigated this effect.     

专利技术转让的产权关系研究

随着科学技术的不断创新和提高,专利技术的交易越来越频繁,其交易所占贸易的比重也越来越大。文章指出,在专利技术交易发生前后对被交易技术进行必要的产权研究,理顺交易双方的产权关系,明确交易双方的权利和义务,对于交易双方避免交易错位和发生法律纠纷有着重要的指导意义。     

浅谈质检机构的计量认

论述质检质机构必须进行计量认证的原因；阐明计量认证不仅是“金字塔牌”，而且认证的过程，同时是本单位昨技术更上一个台阶的过程。计量认证的前后，检测单位的面貌会不大一样。     

Educating business schools about safety & health is no accident

This paper summarizes the consequences of safety and health inattentiveness, and reviews four primary dangers in the workplace. In addition, perspectives of employee health and safety are presented from industry and academia which provide the basis for a strong recommendation to include safety and health issues in business school curricula. Wayne H. Stewart's areas of research and teaching interest include Social Responsibility in Management, Entrepreneurship, and International Business. Wayne is currently on the editorial board of the International Journal of Case Studies, and has published in the Journal of Management Learning, as well as participating in several academic conferences. Donna E. Ledgerwood is currently the Secretary for the Southern Management Association. Donna was President of the Southwest Academy of Management in 1993 and served as the Academy of Management's Director of Exhibits/Publisher Relations and Director of Advertising from 1983–1991. Having written one of the first articles on sexual harassment in 1980, Donna serves on the Editorial Review Board for the Journal of Business Strategies and has published in the Labor Law Journal, the Monthly Labor Review, and the Personnel Administrator. Ruth C. May's areas of expertise are International Business, Business Policy and Strategy and International Human Resource Management. Specializing in the transfer of Western management practices to the former Soviet Union, Ruth is currently involved in the development of training programs and privatization processes in central Russia. She has published in the Academy of Management Executive, Multinational Business Review, and Socialist Labor (Russia).