Clear,conspicuous, and concise: Disclosures and Twitter word-of-mouth

Regulatory bodies in the United States and the United Kingdom recently issued revised guidelines concerning the use of endorsements and testimonials in marketing efforts. Of specific interest within these guidelines is the disclosure of a material connection when brand communications are sent within social media platforms such as Twitter. The findings of quantitative and qualitative survey data analysis indicate that consumers may be misled by current disclosure conventions. Managerial implications, policy recommendations, and suggestions for future research are presented in light of these findings.     

标准-普尔政府信用等级评价体系:分析与启示

标准—普尔政府信用等级评价体系(Standard&Poor'sSovereignCreditRatings)是国际上著名的对政府债务信用等级进行评价的体系,也是全球金融市场政府债券投资者“首瞻”的投资风险指示器之一。本文根据总部设在英国伦敦的标准-普尔政府信用等级评估集团(Standard&Poor'sSovereignRatingsGroup)公布的评价体系和有关材料对该体系进行分析,阐明其价值取向、内容结构和分析方法,探讨影响政府债务信用风险的重要因素,作为进一步改善我国政府债务信用等级的启示与参考。     

标准-普尔政府信用等级评价体系:分析与启示(续)

三、标准-普尔的政府信用等级评价体系的分析方法标准-普尔的政府信用等级评价体系有以下九类 指标. (一)政治风险分析 标准-普尔认为,一个国家(或地区)的政治制度的稳定性、可预测性和透明度,对于分析经济政策决策(包括怎样迅速识别和纠正政策错误)是需要考虑的重要参数。这其中包括国内政治的对抗性程度,政府更迭的频繁程度,以及公共安全事务。对与周边国家的关系,标准-普尔则是从潜在的安全风险的角度     

长沙市休闲娱乐业发展的思考

论文在对长沙市休闲娱乐业现状和问题进行分析的基础上,对长沙市休闲娱乐业的发展提出了几点建议:打造休闲娱乐业可持续的核心竞争能力;强调体验价值,使休闲娱乐产品不断升级;注重规模经济效应,打造知名品牌;重视范围经济效应,注重与其他旅游产品协调发展;将自律与他律结合,引导规范经营。     

数字传媒为媒体娱乐业带来新的春天

PWC（普华永道咨询公司）的一项研究显示，在未来5年内，音乐、影片及游戏的数字化分销（指通过互联网或手机的无线设备分销）将为媒体娱乐行业带来730亿美元的全球收入——去年数字传媒的全球收入总额仅为110亿美元，而5年之前这一行业几乎没有任何收入。数字传媒的增长以及全球经济的强劲表现和不断加大的广告投入，共同将媒体娱乐业推上自2000年互联网泡沫破裂以来发展的最高峰。     

打造层次分明结构合理的海工梯队

近年来．从中船集团公司到中船重工集团公司．从中远集团到中集集团．从中国海油到中国石化、中国石油……中国的船舶制造企业、物流及装备制造企业、能源企业纷纷涉足海洋工程领域．除上海外．辽宁、江苏、山东等造船大省也开始建造或计划开建海工基地．引发了一波进军海工的热潮。     

Corporate Governance Quality and CSR Disclosures

Given the increasing importance attached to both corporate social responsibility (CSR) and corporate governance, this study investigates the association between these two complimentary mechanisms used by companies to enhance relations with stakeholders. Consistent with both legitimacy and stakeholder theory and controlling for industry profile, firm size, stockholder power/dispersion, creditor power/leverage, and economic performance, our analysis of the annual reports for a sample of 222 listed companies suggests that firms providing more CSR information: have better corporate governance ratings; are larger; belong to higher profile industries; and are more highly leveraged. Our findings support the limited prior research suggesting a link between corporate governance quality and CSR disclosure in company annual reports and suggest that, rather than mandating specific disclosures, regulators might be better served focussing on corporate governance quality as a way of increasing CSR disclosures.     

从可持续发展战略看炫耀性消费

本文从探索炫耀性消费的理论源头出发，重点分析了炫耀性消费的负面效应。提出，根据我国国情，我们必须选择可持续的消费模式，坚持走可持续发展道路。     

Entertainment Marketing and Experiential Consumption

The placement of brand references within mainstream entertainment (called here ‘entertainment marketing’) is a rapidly evolving marketing communications field in its scale and sophistication. Much previous research in the field has conceptualized entertainment marketing as promotion and focused on measuring consumer attitudes, purchase intentions and brand recall in response to brand exposure. This conceptual paper suggests that there is also a need for understanding the quality of consumer engagement with brands in the context of mediated entertainment. The paper draws on phenomenological/existential research traditions in order to begin to theorize the role that entertainment marketing techniques may play in facilitating consumer self‐concepts and identity formation through brand exposure within dramatic portrayals of characters and lifestyles.     

Corporate Social Responsibility and Credit Ratings

This study provides evidence on the relationship between corporate social responsibility (CSR) and firms’ credit ratings. We find that credit rating agencies tend to award relatively high ratings to firms with good social performance. This pattern is robust to controlling for key firm characteristics as well as endogeneity between CSR and credit ratings. We also find that CSR strengths and concerns influence credit ratings and that the individual components of CSR that relate to primary stakeholder management (i.e., community relations, diversity, employee relations, environmental performance, and product characteristics) matter most in explaining firms’ creditworthiness. Overall, our results suggest that CSR performance conveys important non-financial information that rating agencies are likely to use in their evaluation of firms’ creditworthiness, and that CSR investments—particularly those that extend beyond compliance behavior to reflect what is desired by society—can lead to lower financing costs resulting from higher credit ratings.     

FASB Proposes Improved Disclosures for Derivatives and Hedging Activities

<正>The Financial Accounting Standards Board(FASB)today issued a proposal that would provide investors and others with better information about the effects of derivative and hedging activities on a company's financial statements.The proposed Statement specifically addresses constituents' concerns that existing disclosure requirements associated with FASB Statement No.133,Accounting for Derivative Instruments and Hedging Activities,do not provide adequate information to financial statement users."The proposed disclosure requirements are intended to enhance understanding of how and why entities use derivatives,how they are accounted for in an entity's financial statements,and how they affect an entity's financial position,results of operations,and cash flows," said Kevin Stoklosa,FASB Project Manager.     

FASB Proposes Improved Disclosures for Derivatives and Hedging Activities

The Financial Accounting Standards Board （FASB） today issued a proposal that would provide investors and others with better information about the effects of derivative and hedging activities on a company＇s financial statements. The proposed Statement specifically addresses constituents＇ concerns that existing disclosure requirements associated with FASB Statement No.133, Accounting for Derivative Instruments and Hedging Activities, do not provide adequate information to financial statement users.     

Sponsorship Disclosures of Native Advertising: Clarity and Prominence

The purpose of this study is to investigate the display of sponsorship disclosures in native advertisements. Based on the native ad guidelines of the Federal Trade Commission, we assessed the clarity and prominence of sponsorship disclosures used by major media outlets. Eighty‐three native ads posted in high‐traffic media Web sites were analyzed. Results revealed problems mostly related to clarity of disclosures. In labeling, various terms were used, including the media's own neologisms, which appear to be very ambiguous. In particular, when republished via social media, the identification of sponsors and the provision of disclosures were more problematic. Results point to the need for more proper and specific guidelines, and active self‐regulation by the industry.     

Opportunistic Disclosures of Earnings Forecasts and Non-GAAP Earnings Measures

When one addresses boycotts, the efforts of the Montgomery bus boycotts to end segregation likely come to mind. However, the moral merits of a boycott are not always so clearly determined and how a company reacts to a boycott can have long lasting repercussions for its public image. In this article, I will examine a number of boycotts including boycotts by the American Family Association of both Ford and Proctor & Gamble based on their advertising venue choices. In a politically and morally charged atmosphere, it can be difficult for companies to determine where their moral obligations lie while at the same time being mindful of the bottom line. I␣suggest a number of guidelines to aid in corporate moral decision making when faced with a boycott.     

深度挖掘电视收视率背后的增值效益——从“06跨年演唱会”看湖南卫视节目与短信互动

收看电视是最普遍的家庭娱乐方式,它吸引观众的最大特点就是同时分享性,虽然这种分享在空间上是以家庭为单位分隔的,但是从更广泛的意义来说,这个分享过程是收看了同一节目的观众之间的社会性互动,比如说《渴望》、《还珠格格》等热播剧,比如超级女声等热门活动,比如看了想骂、骂完还看的央视春晚。由电视媒体单向传播的特质决定,观众互动往往集中在电视节目结束之后,     

加快物流运输业标准体系和信息系统建设

随着我国经济的快速发展,物流行业业务需求增长迅速,但我国物流行业起步晚、规模小、集中度低的现状,已成为制约物流发展的瓶颈,因此必须加快物流业的标准化体系和信息系统的建设,以促进物流业的健康发展。     

Bond Ratings and Income Smoothing in Brazil

ABSTRACT

In this article we use the variables proposed by Eckel (1981 Eckel , N. ( 1981 ). “The Income Smoothing Hypothesis Revisited.” Abacus , Vol. 17 , No. 1 , pp. 28 – 40 . [Google Scholar]) and Leuz et al. (2003 Leuz , C. , Nanda , D. , and Wysocki , P. ( 2003 ). “Earnings Management and Investors Protection: an International Comparison,” Journal of Financial Economics , Vol. 3 , No. 69 , pp. 505 – 527 . [Google Scholar]) as proxies to measure income smoothing and find that Brazilian companies that engage in this behavior receive better ratings in their public bond issues. Using data obtained from the National Bond Registration System and the Economatica, we evaluated public bond offerings. The results of univariate and multivariate analyses and robustness tests attest to the significance of the income smoothing factor, regardless of the rating agency. The results support the notion that income smoothing is an information-signaling mechanism and has an impact on bond ratings.     

Sustainability Ratings and the Disciplinary Power of the Ideology of Numbers

The main purpose of this paper is to better understand how sustainability rating agencies, through discourse, promote an “ideology of numbers” that ultimately aims to establish a regime of normalization governing social and environmental performance. Drawing on Thompson’s (Ideology and modern culture: Critical social theory in the era of mass communication, 1990) modes of operation of ideology, we examine the extent to which, and how, the ideology of numbers is reflected on websites and public documents published by a range of sustainability rating agencies. Our analysis indicates that the ideology of numbers promotes a relatively narrow vision of corporate social and environmental responsibility. That is, it establishes some areas of visibility while leaving in the shadow certain aspects of the ways in which companies fulfill, or fail to meet, their social and environmental responsibilities. The ideology of numbers also exerts power by identifying those companies that are deemed to be worthy of inclusion, or not, in a supposedly socially responsible corporate elite.     

Sovereign Ratings and Oil‐Exporting Countries: The Effect of High Oil Prices on Ratings

We investigate how high and rising oil prices in the 2003–2008 period affected the sovereign ratings of oil‐exporting countries, after controlling for fundamentals. Based on a large dataset of countries from Standard and Poor's and Moody's, we find strong statistical evidence of a large ratings premium – nearly two notches – for those oil‐exporting countries with a large share of net oil revenue to gross domestic product, relative to countries with similar economic fundamentals. We have some limited forecast information from the rating agencies and the effect increases when we include this information, providing further evidence that this ratings premium is not driven by expected improvements in fundamentals. This finding has implications for asset prices in oil‐exporting countries and highlights the risk that in the event of a sharp unanticipated drop in oil prices, sovereign rating downgrades of oil‐exporting countries could be sharper than the deterioration in their economic fundamentals.