试论法与金融风险

法律对投资者、债权人的权益保护得力,金融业就能发展;金融业的发展有利于化解金融风险;企业破产中的金融风险在于金融机构的债权处于什么法律地位;法律诉讼中的金融风险表现在诉讼的期限、证据和法官自由裁量权方面;增强人们的法治观念,能避免和减轻金融风险;行长任期制产生风险转嫁.     

How Have Restaurant Firms Responded to Food Safety Crises? Evidence From Media Coverage

Media communication has become a crucial part of crisis communications due to the rapid dissemination of information along with its immense impact on consumers and other stakeholders. Based on a structured content analysis of electronic media reports on restaurant-associated food safety crises from 1993 to 2015, this study examined media reporting patterns focusing on three elements: instructing information, crisis response strategies, and stakeholders. This study also identified the effect of situational factors (severity of risk and crisis type) on the media reporting patterns using Chi-square tests. The results indicated that restaurant firms were more likely to use proactive than passive response strategies, and identified primary stakeholders during a food safety crisis such as regulatory agencies, victims, and customers. Finally, two situational factors were found to influence the pattern of media reporting. The media reporting patterns were found to vary by risk severity and crisis type.     

Does the “management approach” contribute to segment reporting transparency?

Segment reporting creates an opportunity for companies to add value to the information they disseminate about their industry and geographic operations. This article examines the “management approach” to segment reporting from a user perspective that should be of great interest to corporate financial executives. The management approach to segment reporting requires companies to report segment financial information consistent with the way they manage their businesses. We conclude that, despite more segment data being reported, the potential of the new management approach to significantly benefit users is compromised by uneven compliance among reporting companies. The complicity of external auditors in compliance shortcomings should concern all stakeholders in the financial reporting process. Noting two high-profile examples of accounting fraud, we comment on how the management approach sheds light on Enron's operations, while WorldCom concealed important segment information due to probable auditor malfeasance.     

Social Networking Media: An Approach for the Teaching of International Business

Internet technology and Web 2.0 applications have enabled social networking media to expand in ways that link people globally. By fostering communication, social networks hold immense potential for the enhancement of teaching, especially in the business arena. This article defines social networking and provides a framework for understanding the six categories of social media. It also describes specific applications of social media for the academic environment. It underscores the notion that learning business at the university level is not solely an instructor-led, one-way form of communication, but a student-led, two-way dialogue. An application of social media to an international business course is described. International trade, culture, and global HR management are selected topics that are enhanced by usage of social media. A mini-case study outlining how social media was incorporated into a course is furnished. Assessment data reveal that social media enhances student learning, satisfaction, and sense of connectedness. In its conclusion, the article argues that creatively applying social networking enables international companies, regions, and nations to achieve shared prosperity—thus reaping the benefits of sustained financial growth.     

现行财务报告的局限性及其改革

财务报告从诞生到今天,已经有70年的历史。自21世纪,随着科学技术的飞速发展,电子技术突飞猛进,财务报告日益成为连接金融信息提供商,接受者,监管机构和审计师之间的纽带。然而,传统的财务报告逐渐显示出了其局限性,无法满足财务报告使用者的需求。本文从财务报告的发展历程入手,阐述社会经济的发展决定财务报告的发展变化。也就是说,社会经济的发展是财务报告发展的根本动力。接着,文章通过分析现行财务报告存在的缺陷,以及造成的重大事项,论述改进现行财务报告的重要意义。然后,文章详细指出了我国现行财务报告存在的种种局限性：财务报告的内容不够完整,财务报告的信息披露方式不够完善等。据此,文章进一步对现行财务报告在信息的披露内容、披露模式等方面提出了具体的改进建议。     

Online Media,Market Orientation,and Financial Performance in Nonprofits

The combination of social, political, and economic changes causing simultaneously decreasing funding and increasing demand for services is driving nonprofit managers to engage in proactive marketing in a for-profit model, including the use of online media. This research extends the MARKOR model of market orientation to examine the relationship between market orientation practices, as reflected in the utilization of online media, and their effects on the financial viability of nonprofit organizations (NPOs). The Wayback Machine website (http://waybackmachine.org) provided a unique ability to track site content over time, for comparison with each organization's financial indicators at corresponding points in time. The results of this study confirm the positive relationship between higher market orientation via online media presence and improved financial viability for the sampled group of NPOs. This study provides a simple, actionable, and free measure that NPOs can use to assess their current and planned online media.     

上市公司财务业绩报告的缺陷及改进研究——基于企业资源理论视角

上市公司财务会计报告承担着受托责任及提供决策信息两大会计目标，但现行财务业绩报告在披露方式、内容的完整性、相关性、实质重于形式等方面存在问题。文章基于企业资源理论总结了现行上市公司财务业绩报告在形式与内容上的缺陷．并从企业资源理论的视角提出更加科学合理的财务业绩报告。     

Effects of Materiality, Risk, and Ethical Perceptions on Fraudulent Reporting by Financial Executives

This paper examines fraudulent financial reporting within the context of Jones' (1991) ethical decision making model. It was hypothesized that quantitative materiality would influence judgments of the ethical acceptability of fraud, and that both materiality and financial risk would affect the likelihood of committing fraud. The results, based on a study of CPAs employed as senior executives, provide partial support for the hypotheses. Contrary to expectations, quantitative materiality did not influence ethical judgments. ANCOVA results based on participants' estimates of the likelihood that a "typical CPA" would manipulate reported results indicated that both materiality and risk significantly influenced the likelihood of fraud, but that the perceived morality of the action did not. In contrast, results based on participants' self-reported behavior indicated that materiality and the perceived morality of the action would influence the likelihood of fraud, but that financial risk would not. Regardless of the measure used for the likelihood of fraud, the results indicate that financial executives continue to be influenced by quantitative materiality when misstatements are clearly material on qualitative grounds.     

Spotlight on pensions

Pensions represent a significant financial burden for many companies and a critical source of retirement income for employees. Accordingly, it is important that corporate financial statements transparently present information about the financial health and consequences of pension plans. Numerous criticisms have been levied at financial reporting for pensions, leading to a recent project to revise pension accounting. This article discusses implications of changes to pensions accounting for financial statement users and corporate managers. In general, research suggests that likely changes in pension accounting could increase financial statement users' perceptions of companies' pension burden and risk. In turn, these perceptions could affect corporate managers' decisions with respect to pension commitments and investments.     

The Impact of Publishing Foodservice Inspection Scores

ABSTRACT

The publishing of food safety inspection scores in the media has been the subject of much debate and controversy among consumers, health inspectors, and reporters. Part of the debate centers around whether publishing the results of health inspections by the media influences foodservice establishments to gain better scores, since the media influence consumers' decisions as to whether or not to patronize an establishment. Using a case study approach, the health inspection scores obtained from Tippecanoe County, Indiana, US are analyzed prior to and after media reporting began to determine if the publishing of scores does impact the scores foodservice establishments receive. The results show that overall inspection scores and individual inspector's inspection scores increased and the number of consumer complaints to the health department decreased. This suggests that the reporting of restaurant inspections in the media not only provides information to consumers, but may also impact the inspection process itself.     

Can you hear me now? Learning from customer stories

A large business generally knows its customers through quantitative analyses and summary reports, which are staples of market research and corporate reporting. Too often, the voices of individual customers are muffled by a torrent of numbers, and the stories they would tell are garbled. Few managers and even fewer executives hear customers speak, in their own words and ways, about the company's products and services. Yet, as we discuss, these stories may suggest enhanced customer service, better products, and organizational innovation; indeed, a number of companies have shown that the value of attentiveness to customer stories can be great. Herein, we describe a controlled, exploratory approach a company might take to develop its own engagement with customer storytelling—one that encompasses not only its interactions with customers along the front line, but also conversations ongoing in social media. Our proposal demands sustained commitment from senior management. We counsel senior executives to lead by example, to listen to customer stories, to learn from them, and to share them with others in the executive suite. By truly caring about storytelling, business leaders can better serve their customers and their companies.     

What's wrong with the treadway commission report? Experimental analyses of the effects of personal values and codes of conduct on fraudulent financial reporting

In three studies, factors influencing the incidence of fraudulent financial reporting were assessed. We examined (1) the effects of personal values and (2) codes of corporate conduct, on whether managers misrepresented financial reports. In these studies, executives and controllers were asked to respond to hypothetical situations involving fraudulent financial reporting procedures. The occurrence of fraudulent reporting was found to be high; however, neither personal values, codes of conduct, nor the interaction of the two factors played a significant role in fraudulent financial reporting.Arthur P. Brief is the Lawrence Martin Chair of Business at Tulane University where he also is the Director of The William B. and Evelyn Burkenroad Institute for the Study of Ethics and Leadership in Management as well as, by courtesy, Professor of Psychology.Janet M. Dukerich is an Associate Professor of Management in the College of Business Administration at The University of Texas at Austin.Paul M. Brown is an Associate Professor of Accounting in the Stern School of Business at New York University.Joan F. Brett is an Assistant Professor of Organizational Behavior in the Edwin L. Cox School of Business at Southern Methodist University.     

Senior marketers’ insights into the challenges of social media implementation in large organisations: assessing generic and electronic orientation models as potential solutions

Abstract

The unique characteristics of social media (SM) have made it difficult to implement this tool within many large organisations. This paper seeks to identify the implementation challenges and evaluate alternative organisational orientations that may provide solutions. We aimed to reconcile theory with current practice by integrating the extant literature with data from three focus groups involving 27 senior marketing executives. The managerial discussions identified additional challenges to those previously discussed in the literature, which appear to result from SM’s unique characteristics. These include: interactivity, the integration of communication into distribution channels, collaborative media and information collection. Using both broad orientation models (market orientation and entrepreneurial orientation) and a specific digital orientation (e-marketing orientation), guidelines and research propositions for effective implementation are put forward.     

Building relationships through dialogic communication: organizations,stakeholders, and computer-mediated communication

Online media are integral to daily life, and while many organizations use them to reach broad audiences, others still appear to be uncomfortable with online media because they do not understand how to maximize their potential to interact effectively with stakeholders. Numerous organizations use online media for one-way communication to disseminate information, despite the affordances of the media platforms for two-way, dialogic communication. This article draws on two dominant interpersonal theories of computer-mediated communication—social information processing theory and the hyperpersonal model—to propose dialogic strategies that organizations can use to improve their online communication with their stakeholders. We illustrate the application of these principles through three stages of relationship building: initiating/experimenting, intensifying, and integrating/bonding. The article integrates the applications within an overall dialogic communication strategy, and provides organizations and practitioners with a model with which they can engage stakeholders with dialogic methods via social media.     

双重二元金融结构、农户信贷需求与农村金融改革——基于11省14县市的田野调查

破除二元金融结构、推进农村金融改革、及时调整非均衡增长模式是克服金融危机和保持经济可持续发展的关键。本文基于11省14县市的田野调查数据,对农户信贷意愿和信贷可及性及其影响因素进行了定量分析,同时运用统计数据揭示了我国农村系统性负投资和双重二元金融结构的制度特征与经济后果。本文最后对未来农村金融体系改革中激励与约束机制设计、存量改革与增量改革战略以及普惠金融体系的构建提出了系统的政策框架。     

Customer Lifetime Value and Firm Valuation

SUMMARY

Unlike most marketing metrics, CLV provides information which is directly relevant to marketing decision makers, non-marketing executives such as CFOs, and financial analysts. This paper highlights why and how CLV is financially relevant. It explicitly compares CLV-based valuation with four finance-oriented methods (DCF, P/E ratio, customer counting, and extrapolation). We also discuss implications for marketing managers, financial executives as well as educators.     

浅谈中国网络媒体新闻报道业务的改革——以新浪奥运报道为例

通过对新浪奥运报道特色的分析,对我国网络媒体新闻报道业务的创新提出了思考。同时针对我国网络媒体新闻报道业务出现的问题,提出了相应的改革措施。     

Stealing thunder as a crisis communication strategy in the digital age

The proliferation of social media and information communication technologies (ICTs) has transformed the crisis communication landscape. We are increasingly seeing new crisis development patterns and stakeholder communication processes that overwhelm traditional crisis communication protocols. Crisis communication theories and best practices, however, remain largely reactive and may not provide practical implications for effective communication strategies in the digital age. Crisis communication must advance to proactive strategies with stakeholder-focused communication. This article provides research-based evidence with real-world examples to illustrate why stealing thunder must be considered a strategic crisis communication option in the digital age. Managers must understand how social media and ICTs influence the current crisis communication ecosystem and how stealing thunder can help them navigate crises.     

Effects of IT knowledge and media selection on operational performance of small firms

This study examines the effects of information technology (IT) knowledge and media selection on operational performance, measured by balanced scorecard, in small firms. Small firms generally lag behind medium and large companies in adopting and implementing computerization. This study is based on a survey of 698 small firms. The results show that: (1) individual IT knowledge and both traditional and electronic communication methods significantly contribute to the internal process performance of small firms; (2) internal process performance, organizational IT knowledge, and electronic communication methods affect customer performance; and (3) financial performance is affected by process and customer performance. The findings imply that it is imperative for small firms to adopt computerization to achieve improvements in business performance.