The power of positivity? The influence of positive psychological capital language on crowdfunding performance

We extend the entrepreneurship literature to include positive psychological capital — an individual or organization's level of psychological resources consisting of hope, optimism, resilience, and confidence — as a salient signal in crowdfunding. We draw from the costless signaling literature to argue that positive psychological capital language usage enhances crowdfunding performance. We examine 1726 crowdfunding campaigns from Kickstarter, finding that entrepreneurs conveying positive psychological capital experience superior fundraising performance. Human capital moderates this relationship while social capital does not, suggesting that costly signals may, at times, enhance the influence of costless signals. Post hoc analyses suggest findings generalize across crowdfunding types, but not to IPOs.     

Advancing environmental productivity: Organizational mindfulness and strategies

This study investigates the importance of mindfulness‐based organization systems and policies on the organization's continuous efforts to become a greener company. The study is devised as a pooled cross‐sectional time series analysis of productivity in energy consumption, water utilization, and waste generation and recycling of U.S. companies. The data set taken from U.S. Newsweek 500 recorded 600 companies dispersed into 63 industries during the period of 2012–2014 and provided 1,498 company–industry–year observations. The study found that systems and policies (e.g., deployment of third‐party auditors for its environmental metrics report; linkage of the remuneration of company's senior executive team with the achievement of environmental performance targets; and establishment of a committee at the Board of Directors' level whose mandate includes sustainability of the company in environment‐ and resource‐related matters) connect the company's mindfulness to its effort in improving the environmental quality through the company's productivity in energy consumption, water utilization, and waste generation and recycling. The relationships are positive and significant. Also, systems and policies serve as a motivator for the firm to continue to improve upon the current achievements. The study emphasizes the importance of translating organizational and individual mindfulness into organization policies and systems in order to motivate the organization to continuously improve its productivity in energy consumption, water utilization, and waste generation and recycling leading to improvements in environmental quality.     

美国会计目标研究的历史考察及其对我们的启示

会计目标不仅是一个重要的理论问题,亦是一个重要的实际问题。美国是世界上研究会计目标最早、取得研究成果最丰富的国家之一。从美国会计学会1966年发表基本会计理论研究公告算起,美国从事会计目标研究已有30余年的历史。美国会计学会、会计原则委员会、特鲁布罗德委员会、财务会计准则委员会都对会计目标的研究作出过重要贡献,形成了像基本会计理论公告、APB第4号报告、特鲁布罗德报告和企业财务报告的目标等一系列研究成果。通过对美国会计目标研究历史的分析,我们从中可以得到如下三点启示: 第一,会计目标的研究与对会计本质的认识密不可分; 第二,会计目标研究应密切联系一定的社会经济环境; 第三,会计目标研究应采取理论分析与实证研究相结合的方法。     

The “swing of the pendulum” from public to market support for science and technology: Is the U.S. leading the way?

The structure and financing of science and technology activities are undergoing a slow, but profound, change. This change can be briefly characterized as a shift from relying and supporting public science to a stronger emphasis on “market-based” incentives for science and technology. In this paper we analyze this shift in a historical perspective, discussing both the theoretical explanations and the empirical trends of the ongoing change. While we do not claim to provide a comprehensive and exhaustive identification of the causes of this shift, we argue that it is largely driven by the perception of a shift of the U.S. policy towards market-based, rather than publicly supported, incentives for science and technology. This, in turn—given the strong economic performance of the United States over the 1990s—has influenced policies in most OECD countries, especially in Europe.We conclude by analyzing the evolution of research in U.S. higher education and find two major trends: an increasing diversity in the number of institutions of different types other than universities and a steady and continuous public funding of the leading U.S. universities. This has allowed the construction of an infrastructure now used largely by the private sector, but it also noted that the United States has not compromised public support for core areas or in those fields in which there is a clear perception that market incentives are not sufficient for meeting the strategic targets of the U.S. policy. The implication is that there is a considerable policy diversity in the U.S. practice and that all aspects of this diversity should be considered when using the United States as a reference.     

固定资产和商誉减值的中英比较与借鉴

资产减值等有关问题是目前我国会计理论和实务中急需加以关注的问题之一，本文试图通过对我国有关资产减值准则制度与英国会计准则委员会(ASB)发布的财务报告准则第11号(FRS11)比较，以期从中借鉴有益部分，促进我国有关资产减值会计的完善。     

美国农业补贴政策的演变趋势分析

从1933年第一部系统的农业法开始实行以来,美国先后出台了数十个有关农业补贴的法律,对农业进行了长期高强度的补贴,形成了有特色的补贴体系.     

A cost analysis of SIR-Spheres yttrium-90 resin microspheres versus tyrosine kinase inhibitors in the treatment of unresectable hepatocellular carcinoma in France,Italy, Spain and the UK

Abstract

Background and aims: A wide range of treatment options are available for hepatocellular carcinoma (HCC), including systemic treatment with tyrosine kinase inhibitors (TKIs) such as sorafenib and lenvatinib, immunotherapies, locoregional therapies such as selective internal radiation therapy (SIRT) and treatments with curative intent such as resection, radiofrequency ablation and liver transplantation. Given the substantial economic burden associated with HCC treatment, the aim of the present analysis was to establish the cost of using SIRT with SIR-Spheres yttrium-90 (Y-90) resin microspheres versus TKIs from healthcare payer perspectives in France, Italy, Spain and the United Kingdom (UK).

Methods: A cost model was developed to capture the costs of initial systemic treatment with sorafenib (95%) or lenvatinib (5%) versus SIRT in patients with HCC in Barcelona Clinic Liver Cancer (BCLC) stages B and C. A nested Markov model was utilized to model transitions between progression-free survival (PFS), progression and death, in addition to transitions between subsequent treatment lines. Cost and resource use data were identified from published sources in each of the four countries.

Results: Relative to TKIs, SIRT with SIR-Spheres Y-90 resin microspheres were found to be cost saving in all four country settings, with the additional costs of the microspheres and the SIRT procedure being more than offset by reductions in drug and drug administration costs, and treatment of adverse events. Across the four country settings, total cost savings with SIR-Spheres Y-90 resin microspheres fell within the range 5.4–24.9% and SIRT resulted in more patients ultimately receiving treatments with curative intent (4.6 vs. 1.4% of eligible patients).

Conclusion: SIR-Spheres Y-90 resin microspheres resulted in cost savings relative to TKIs in the treatment of unresectable HCC in all four country settings, while increasing the proportion of patients who become eligible for treatments with curative intent.     

现行财务会计报告模式改进的探讨

随着信息技术的发展,现行财务会计报告模式正面临严峻挑战。如何建立适应经济发展和时代要求的财务会计报告模式已成为会计探讨的热点问题。本文从通用财务会计报告模式的分析入手,探讨了理想财务会计报告模式的设想和网络环境下以通用财务会计报告模式为基础,建立交互式按需报告模式的思路和联合按需报告模式的发展方向,旨在通过网络手段改进现行的财务会计报告模式,不断适应和满足信息使用者的需求。     

How efficient are national environmental standards? A benefit-cost analysis of the United States experience

This paper summarizes the results of the first systematic, geographically-specific efficiency assessment of the U.S. experience with national environmental standards and with alternative approaches to establishing those standards. This ex-post evaluation assessed the net benefits that resulted from EPA's regulation of conventional air and water pollutants from the pulp and paper industry between 1973 and 1984. The paper compares the benefit-cost efficiencies of the three dominant regulatory approaches: technology, ambient, and benefits. Unlike previous studies, which assessed benefits and costs on a national basis, the study estimates both costs and benefits on a facility-by-facility basis. The analysis shows how the efficiency of national environmental regulations can vary dramatically at local levels. The authors conclude that the technology-based standards for water pollution management failed as an efficient environmental strategy. The costs clearly exceeded the benefits in the aggregate, as well as in the specific in most situations. Benefits exceeded costs at only 11 of the 68 mills investigated. The ambient based standards for air pollution management succeeded as an environmental strategy in the aggregate, but succeeded in the specific for only one-third of the mills (22 of 60 mills). The benefits-based standards for air pollution management also succeeded in the aggregate as well as in the specific for about one-half of the mills. Benefits exceeded costs at 29 of the 60 mills investigated. The results of the study point to two major conclusions. First, a regulatory policy that is based on some measure of environmental results, either ambient-based or benefits-based, will be more efficient than a policy that ignores environmental results. Second, truly efficient policies for reducing environmental risks require pollution mitigation decisions that take into account local conditions. These include not only the changes in local ambient conditions, but also the number of people who will benefit from pollution reduction decisions. This latter conclusion suggests that national environmental standards per se may be inefficient.Dr. Luken is currently Senior Environmental Advisor to the United Nations Industrial Development Organization (UNIDO) in Vienna, Austria. He is on leave from the U.S. EPA where he was Chief of the Economic Analysis and Research Branch of the Office of Policy, Planning and Evaluation (OPPE). Mr. Clark is President of Environmental Economics Associates of Traverse City, Michigan. He was formerly Chief of EPA's Cost and Economic Impact Analysis Branch in OPPE. The views expressed are those of the authors and do not represent the views of the U.S. Environmental Protection Agency.