How novel actors achieve a positive reputation: A case of prep schools with elite‐level hockey programs

How are novel organizations able to build a positive reputation while attempting to enter into a system with established organizations? To address this, we examined the field of elite‐level amateur hockey. Private Secondary Schools (PSS) are novel in that they offer a nontraditional pathway for players with respect to fielding elite‐level hockey teams. Findings from interviews with PSS with elite‐level hockey programs revealed that PSS highlight their Selection Processes, Player Development Practices, and the enhanced Player Experience in an effort to build a positive reputation. This study contributes to the literature on reputation by showing that novel organizations can build a reputation through highlighting the unique value they add. Copyright © 2016 ASAC. Published by John Wiley & Sons, Ltd.     

Building A Sustainable Shelf: The Role of Firm Sustainability Reputation

The reputation of firms for being environmentally friendly and socially responsible is a key purchase driver for sustainable products. However, the commitment of firms to sustainability varies – some firms are founded on strong environmental and social principles; other more traditional firms are built on strong product/brand focus and are not known for sustainability. In response to market trends, many traditional firms are introducing sustainable products to their portfolios. We argue that the firm’s sustainability reputation (FSR) will influence consumer purchase with respect to equally sustainable products from different firms. Two choice studies demonstrate that FSR favors sustainable product choice when the consumer decides between equally sustainable products. However, FSR affects the choice only for sustainable products and not regular products and does so only for consumers that construe sustainability at a high (abstract) level. Retailers should pay attention to the role that FSR plays in consumer response when they select sustainable products to sell.     

投资银行声誉与IPO超额回报率相关分析

国外理论与实证研究表明,投资银行声誉与IPO超额回报率负相关。本文选择2002~2006年在沪深证券市场发行上市的股票为样本,同时考虑股票发行定价方式及股权分置等证券市场制度改革的影响,分时段、分市场进行分析,结果显示,声誉型投资银行相对普通投资银行所承销的股票具有较高的平均抑价率,就声誉型投资银行内部而言,其声誉水平与IPO抑价率呈负相关,但其关系并不显著,即投资银行声誉假说在我国不成立。     

资本市场开放与公司内部控制质量——基于“沪港通”的证据

以中国“沪港通”交易制度的实施为政策背景,采用多时点双重差分模型,考察资本市场开放对标的公司内部控制质量的影响,研究发现,“沪港通”交易制度的实施显著提升了公司的内部控制质量,在控制其他因素并经过安慰剂检验、去除A+H股影响、改变周期范围等稳健性检验后,结论依然成立。机制检验表明,“沪港通”主要通过内部和外部两种机制对公司内部控制质量产生影响,其中,内部机制是对股价波动性风险控制,外部机制是审计师声誉风险与政府部门监管。     

集群网络组织信用的声誉模型分析

本文利于非完全信息动态博弈方法中的KMPW声誉模型分析信息不对称下产业集群的信用问题,认为有效披露和传递集群内企业的信用信息是发挥网络组织作用的关键,并针对性地提出建立集群内企业信用制度的建议。     

Rules versus discretion - A disinflation case

This paper compares a strict inflation target regime to a conservative central bank regime to determine the monetary regime appropriate for a disinflation process. The analysis shows that in a two-period model, in which policymakers face given first-period inflationary expectations, a strict inflation target could be preferred to the appointment of a conservative central banker who has discretion. The result differs from that of Rogoff (1985), who assumed rational expectations and concluded that a conservative central banker is always preferable. The disadvantage of the conservative central banker derives from his tendency to accelerate disinflation relative to rate that maximizes social welfare.JEL Classification: E52, E58The authors are grateful to Alex Cukierman, Nissan Liviatan, Allan Drazen, Amit Friedman and Yoav Friedmann for their useful suggestions. We also thank the anonymous referees for helpful comments. Earlier versions of this paper were presented at the Tel Aviv University macroeconomic workshop, at the Research Department seminar, Bank of Israel, and at the Bank of Israels conference on Macroeconomic Policy, October 2002.     

信息约束下的金融监管与银行声誉

如何在信息不对称的约束条件下降低金融风险、提高监管绩效,是金融监管中的一项重要课题.本文分析了信息结构对于监管的重要性,认为声誉机制的建立可以降低银行与监管部门之间信息不对称的程度和风险发生的概率,并运用KMFW模型,分析了不对称信息下银行声誉机制减少违规动机的过程,指出应该注重激励相容的制度安排,将外部监管与自律有机结合起来,促使银行自发选择接受监管且减少进行高风险投资的动机,这是信息不对称条件下提高监管效率的重要策略.结合我国实情,本文提出可通过银行风险评级、建立可置信的惩罚机制、完善银行内部治理机构、改进监管人员激励约束机制、构建和完善金融监管信息系统等措施,建立健全银行声誉机制,以进一步改善监管绩效.     

非正式制度视角下的集群企业信誉机制

产业集群中的企业信誉是保证产业集群有序运作的前提,要保证企业间高效的合作就必须有强有力的制度保障。与科层组织的信誉机制不同,产业集群中企业间的信任和合作主要是依靠非正式制度。文章从关系性嵌入、专用性投资,以及联合制裁三个方面对此问题进行了阐释。文章的结论是,产业集群中特有的信誉机制是导致产业集群竞争优势的一个重要原因。     

Credit claiming

We consider a leader and a subordinate he appoints who work in a team. The public observes the organization’s performance, but not the separate contribution of the leader or of the subordinate. The leader may therefore claim credit for the good work of his subordinate. We find conditions which induce the leader to claim credit (both truthfully and untruthfully), and the conditions which lead the leader to appoint a subordinate of low ability.JEL Classification: M5Björn Segendorff gratefully acknowledge financial support from The Swedish Council for Research in Humanities and Social Sciences (HSFR, F0357/97). We are also grateful for comments by an anonymous referee.     

农村社区公共物品的农户自愿供给——基于声誉理论的分析

农户的声誉不仅能给农户带来直接效用,它还具备信息效应与资本效应,对农户参与农村社区公共物品供给博弈的均衡路径产生重要影响。在独立博弈下,声誉的直接效用能使农户采取合作行动;在关联博弈和重复博弈中,声誉的信息及资本效应对农户的偷懒行为有很强的约束,将导致博弈进入合作均衡。因此基于声誉损益的考虑,由农户自愿供给农村社区内的公共物品会是一个有效的结果。