The Effect Of Advertising Content Control On Advertising Effectiveness In The Different Forced Exposure Circumstance

With advances in new technology, various formats of online advertising (e.g., in-stream video advertising) often force e-consumers to watch the advertisement during their goal-oriented activities, and this advertising interruption often makes them feel intruded upon and irritated. To reduce such negative reactions toward involuntary advertising exposures, this study examines whether offering e-consumers the option to choose advertising content can influence ad effectiveness in different degrees of forced exposure circumstance. Using a 2 (advertising content control: customization option vs. no option) × 2 (level of forced exposure: pre-rolls vs. rich media banners) factorial experiment, the researcher noted that advertising customization features generate a greater sense of relevance and increased advertising memory, which in turn may lead to more positive attitudes toward the ad regardless of the levels of forced exposure. The findings have theoretical and practical implications on the use of involuntary advertising interruptions in the web interface.     

Noise traders,firm-specific uncertainty and technical trading effectiveness

This is the first study to document evidence of technical trading effectiveness at firm level in the Chinese A-share market by investigating the relationship between excess profits of technical trading rules and firm-specific characteristics. Our results reveal that firms with higher excess profits from technical trading have more noise traders and higher institutional ownership and that those firms tend to be growth firms with lower liquidity and higher firm-specific uncertainty. Further analysis shows that the profitability of technical trading rules is unsustainable and the excess profits of the highest technical trading profit quintile portfolio disappear in the following year.     

Disappearing investment-cash flow sensitivities: Earnings have not become a worse proxy for cash flow

According to a recent conjecture in the literature, earnings have become a poorer proxy for cash flow from operations over time. We find that since 1988, when cash flow statements started to be consistently reported in Compustat, the cash effectiveness of earnings has actually increased for a large sample of US manufacturing firms. This occurs despite the introduction of fair value accounting and increasing accounting accruals during the last three decades. Also contrary to the conjecture, using more comprehensive measures of cash flow does not restore the investment-cash flow sensitivity, which continues to be around 0.05 in more recent periods.     

Organizational CQ: Cultural intelligence for 21st-century organizations

We live in an age of massive global disruption. Technological advancements threaten century-old business models, globalization is reordering supply chains, and people need to work with colleagues and customers who have vastly different backgrounds. On top of that, we have been in the midst of a global pandemic, and customers, employers, and investors are demanding more than just a Black Lives Matter social media post from organizations that purport to take social justice seriously. Organizations with high cultural intelligence (CQ) are able to navigate this volatility and complexity effectively. Over the last two decades, scholars from across the world have published hundreds of articles on CQ, the capability to relate and work effectively in complex, culturally diverse situations. Most of the work has examined CQ at the individual level. But what about organizations? Can organizations be culturally intelligent? The emerging research on CQ at the organizational level offers leaders and organizations critical insights for navigating today’s diverse, digital world. Organizational CQ is a firm’s capability to function effectively in a complex and unpredictable multicultural world. This article stresses the importance of the culturally intelligent organization and explains how to develop organizational CQ.     

Gold and US sectoral stocks during COVID-19 pandemic

In this study, we examine the hedging relationship between gold and US sectoral stocks during the COVID-19 pandemic. We employ a multivariate volatility framework, which accounts for salient features of the series in the computation of optimal weights and optimal hedging ratios. We find evidence of hedging effectiveness between gold and sectoral stocks, albeit with lower performance, during the pandemic. Overall, including gold in a stock portfolio could provide a valuable asset class that can improve the risk-adjusted performance of stocks during the COVID-19 pandemic. In addition, we find that the estimated portfolio weights and hedge ratios are sensitive to structural breaks, and ignoring the breaks can lead to overestimation of the hedging effectiveness of gold for US sectoral stocks. Since the analysis involves sectoral stock data, we believe that any investor in the US stock market that seeks to maximize risk-adjusted returns is likely to find the results useful when making investment decisions during the pandemic.     

国有林场改革成效评价——职工获得感的统计分析

利用国有林场职工监测数据,基于物质维度和精神维度,从改革后职工自身的收益情况、职工对林场的整体评价、职工对林场管理方式的评价等方面,采用比较分析法和主成分分析法对国有林场改革职工获得感进行分析。研究结果表明:国有林场改革后职工获得感有所提升,改革进程与职工获得感呈强正相关性,改革促进了林场的可持续发展。但林场整体基础设施环境一般,场部相对较好,管护站点则较差。同时,在领导班子建设方面应注重自主、公平,仍需提高领导水平。     

结构性减税与扩张政府支出的宏观经济效应

为了深入研究不同类型财政政策对宏观经济的影响效应，本文构建纳入异质性家庭和细化财税工具的新凯恩斯DSGE模型，并着重模拟分析了不同类型财政政策冲击对居民消费、私人投资、通胀率以及总产出水平的动态影响效应。研究结果表明，不同类型财税工具对宏观经济的冲击效果存在显著差异，对于税收政策，劳动收入税减税能够有助于提升消费水平和消费需求，并调节和完善消费结构；而对于政府支出政策，转移支付规模的扩张通过刺激家庭消费，引导消费内需有效提升，从而带动经济增长方式由投资驱动型向消费驱动型转变，进而推动经济高质量发展。     

Assessing cost‐effectiveness when environmental benefits are bundled: agricultural water management in Great Barrier Reef catchments

Using economic analysis to prioritise improvements in environmental conditions is particularly difficult when multiple benefits are involved. This includes ‘bundling’ issues in agricultural pollution management, where a change in management action or farming systems generates multiple improvements, such as reductions in more than one pollutant. In this study, we conceptualise and compare two different approaches to analysing cost‐effectiveness when varying bundles of benefits are generated for a single project investment. Each approach requires data to be transformed in some way to allow the analysis to proceed. The index approach requires the transformation on the benefits side so that the effects of multiple pollutant changes can be combined into a measure for each project which can then be compared to costs. By comparison, the disaggregation approach requires the transformation on the costs side where costs for each project have to be apportioned across the different pollutants involved. The paper provides novel insights with an application to agricultural water quality improvements into the Great Barrier Reef in Australia, demonstrating that while both approaches are effective in prioritising projects by cost‐effectiveness, the disaggregation approach provides more insightful results and values that may be relevant for use as upper value guidelines in future project selection.     

Social media and sustainable purchasing attitude: Role of trust in social media and environmental effectiveness

The role of social media in promoting sustainable attitudes is currently understudied. Underpinned by social learning theory, this study unveils the effect of social media usage and browsing on sustainable purchasing attitude, the underlying mechanism, and the boundary condition. Drawing on a sample of 693 experienced respondents analyzed using structural equation modeling, this study reveals that social media usage and browsing have a significant positive association. Both constructs significantly impact sustainable purchasing attitudes with complementary partial mediation of the drive for environmental responsibility. Further, trust in social media and perceived environmental effectiveness significantly moderate the relationships belongs to the browsing and drive for environmental responsibility. Contrary to the theorization, moderating constructs cannot substantially impact the proposed associations of social media usage. In this manner, the present research is innovative and provides valued knowledge to comprehend social media's role in encouraging sustainable attitudes.     

Workplace deviance and human resource management relations: A case study of Turkish hotel employees

The main purpose of this study is to examine the negative associations between employees' perception of the effectiveness of performance appraisal practices and deviant workplace behavior. This study also tests the mediating effect of the forms of organizational justice in the relationship between performance appraisal practices and deviant workplace behavior. Moreover, it also investigates how line managers' performance appraisal politics may influence the relationship between perceptions of performance appraisal practices and employee deviant workplace behavior. In order to facilitate this study, the research team employed a survey design. A total of 193 service employees from different service establishments attended the forum where the study was conducted in the capital city of Turkey, Ankara. The results of this study strongly support the premise that effective performance appraisal practices influence employee deviance behavior, and especially that interactional justice is an important predictor of employee violative behavior. Moreover, the findings indicate that there is no evidence regarding the moderating effect of employees' perception of managers' appraisal politics in the negative relationship between performance appraisal effectiveness and employee deviance.