The Benefit of Frequent Corporate Philanthropy

Applying behavioural economic theory, we argue that the frequency of philanthropic activity is important in determining corporate philanthropy's economic outcome. Using Chinese data from 2003 to 2016, we find that firms with more frequent philanthropic activities obtain more government subsidies than firms that only engage in one-off charitable donations. Firms with better corporate governance, such as higher management ownership and more independent directors, are more likely to adopt a strategy of frequent donation. Furthermore, firms are more likely to be frequent donors when management or local government officers have a long tenure. Our findings provide insight into the giving process and suggest that firms can maximize the benefit of corporate philanthropy if they strategically consider the donation frequency and donation amount simultaneously.     

Exploring the influence of tourists’ happiness on revisit intention in the context of Traditional Chinese Medicine cultural tourism

Based on how tourists interpret the destination experience and on attachment theory, this study investigates the influencing mechanism of tourists' happiness on revisit intention for traditional Chinese medicine (TCM) cultural tourism destinations. Three tourist samples confirm the three dimensions of tourists' happiness: positive emotions, engagement, and meaning. Two surveys were conducted to test the direct and indirect influence of tourists' happiness on revisit intention and the moderating role of tourists' health consciousness. The results show that tourists' happiness promotes memorable tourism experience and place attachment, in turn stimulating revisit intention. The results also support health consciousness as a significant moderator between happiness, place attachment, and revisit intention. The findings enrich theoretical understanding of tourists’ happiness and provide marketing and management advice for TCM cultural tourism destinations.     

Positive Feedback Trading and Investor Sentiment

This article examines how investor sentiment affects positive feedback trading behavior. By analyzing the daily closing total return of CSI 300 index and its individual returns of stocks, we find that relatively high or low sentiment induces active positive feedback trading. With a specific indicator of sentiment, we explain the microstructure setting of the relationship between positive feedback trading and sentiment. We adopt the classical feedback model from Sentana and Wadhwani (1992) to measure positive feedback trading behavior. By adding sentiment factor to the model, we successfully explain how sentiment influences the behavior of both feedback traders and rational investors. The empirical findings suggest that positive feedback traders are more likely to trade when the prices of most securities move forward together. When the sentiment of feedback traders is at an intermediate level, the feedback trading behavior is insignificant.     

Review: Chinese public administration and finance—a call for a new theory,research and dialogue

In implementing its national strategy to achieve global leadership, China needs a new public administration theory that integrates political administration, economic management and social regulation. Even so, China has already started to promote its brand of political and economic development abroad. Therefore new comparative research and dialogue is called to explore the universality of Chinese and Western public administration ideas.     

Dialectical mind can be sweet toward crisis‐associated products/brands

Consumers’ thinking style (e.g., dialectical thinking), which is fundamental to cognition, has been paid inadequate attention in the consumer literature. This research explores the impact of dialectical thinking on Chinese consumer responses toward crisis‐associated products/brands. Findings in three experimental studies indicate that, in comparison to those primed with nondialectical thinking, consumers primed with dialectical thinking report higher levels of purchase intention and trust for a crisis‐associated product/brand. This is the case not just for products with Chinese cultural background, but also for products with western cultural background. Consumers’ perceived severity of crises moderates the impact of dialectical thinking, with a stronger impact in a highly severe crisis situation than in a less severe one. A survey study indicates a similar pattern. These findings are important in suggesting ways of encouraging Chinese consumers to be insistent on quality standard in order to better protect their consumer rights, and moreover, for multinational corporations on how best to respond and formulate strategies of handling product‐harm crises in the Chinese market.     

Enabling the language of accessible tourism

The growing body of literature on “accessible tourism” lacks a critical scholarly debate around its specific language use and nomenclatures. To fill this gap, this paper provides a first examination of language. Language provides a unique capability to resist, strengthen and reframe identities of individuals and groups, yet can also reinforce, weaken and perpetuate dominant worldviews of disability. A content analysis examined previous accessible tourism literature with results illustrating that diversity exists amongst the varying terminologies adopted by scholars. Terms were employed loosely, inconsistently and interchangeably, euphemistically with erroneous understandings and nuances. The paper concludes with critical discussion about the power of researchers to (re) produce oppression through language that maligns and misrepresents, or to (re) conceptualise and (re) construct the world we live in with liberating language that facilitates positive social change.     

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.     

Chinese tourists' views of nature and natural landscape interpretation: a generational perspective

This study investigates Chinese tourists’ views of nature, interest in animal experiences and their preferred natural landscape interpretation content from a generational perspective. Eight hundred and eight self-administered questionnaires were collected at Wulingyuan, a UNESCO World Natural Heritage Site, in China. It suggests that overall Chinese traditional cultural values and beliefs, notably the thinking of tian ren he yi (oneness of nature with humans), still have considerable impacts on Chinese tourists. They were found to have a strong sense of connection with nature and a preference for cultural interpretations of natural landscapes. Meanwhile, Chinese might be reaching a point of convergence in terms of attitude towards nature and animals with their Western counterparts, as reflected by their weak anthropocentric view, and strong ethical and aesthetic appreciation of animals, regardless of generation cohorts. Yet, the study shows significant generational gaps: older generations have a stronger connection with nature, are more concerned about environmental issues and show more support for the Western approach towards nature protection; the younger generations hold weaker anthropocentrism, and are more interested in animals, yet are less likely to learn about nature through tourism interpretation.     

Organisational change in new ventures in Chinese context: the open innovation

This paper uses case study method to examine the acquisition process of information and funding through the implementation of open innovation (OI) in new ventures in Chinese context. We find that in the process of accessing to the marketing or technical information through OI, the most important thing for enterprises is to establish trust and cooperation with familiar partners, and trust is derived from existing social relations. In the process of funding acquisition through OI, the most important thing for enterprises is to strike a balance between gains and losses.     

Comparing automated text classification methods

Online social media drive the growth of unstructured text data. Many marketing applications require structuring this data at scales non-accessible to human coding, e.g., to detect communication shifts in sentiment or other researcher-defined content categories. Several methods have been proposed to automatically classify unstructured text. This paper compares the performance of ten such approaches (five lexicon-based, five machine learning algorithms) across 41 social media datasets covering major social media platforms, various sample sizes, and languages. So far, marketing research relies predominantly on support vector machines (SVM) and Linguistic Inquiry and Word Count (LIWC). Across all tasks we study, either random forest (RF) or naive Bayes (NB) performs best in terms of correctly uncovering human intuition. In particular, RF exhibits consistently high performance for three-class sentiment, NB for small samples sizes. SVM never outperform the remaining methods. All lexicon-based approaches, LIWC in particular, perform poorly compared with machine learning. In some applications, accuracies only slightly exceed chance. Since additional considerations of text classification choice are also in favor of NB and RF, our results suggest that marketing research can benefit from considering these alternatives.