The impacts of SOX and SEC investigation on the corporate governance of option backdating firms

This study investigates the combined impact of the Sarbanes-Oxley Act of 2002 (SOX) and the subsequent related Securities and Exchange Commission's (SEC) initiatives on the corporate governance characteristics of firms that had historically backdated stock options. Our results show that backdating firms had both weaker board-level and committee-level corporate governance characteristics than control firms in the pre-SOX period. In contrast, backdating firms dress up their board-level governance to meet regulatory requirements but still feature weaker committee-level corporate governance in the post-SOX era.     

Translating corporate social performance into financial performance: exploring the moderating role of high-performance work practices

The purpose of this study is to examine the role of high-performance work practices (HPWPs) in helping to translate corporate social performance (CSP) into corporate financial performance (CFP). We employ arguments from the behavioral view of human resource management to highlight the vertical connection between a firm's proclivity for CSP and the management practices it adopts. Furthermore, we examine the moderating influence of HPWPs on the CSP–CFP linkage. Results suggest that HPWPs moderate the relationship between CSP and financial outcomes, and suggest that human resource practices may play an important role in enhancing a positive CSP–CFP relationship by helping to vertically align the behaviors of employees with the values and orientation of the organization.     

The relationship between stock returns and volatility in international stock markets

This study examines the relationship between expected stock returns and volatility in the 12 largest international stock markets during January 1980 to December 2001. Consistent with most previous studies, we find a positive but insignificant relationship during the sample period for the majority of the markets based on parametric EGARCH-M models. However, using a flexible semiparametric specification of conditional variance, we find evidence of a significant negative relationship between expected returns and volatility in 6 out of the 12 markets. The results lend some support to the recent claim [Bekaert, G., Wu, G., 2000. Asymmetric volatility and risk in equity markets. Review of Financial Studies 13, 1–42; Whitelaw, R., 2000. Stock market risk and return: an empirical equilibrium approach. Review of Financial Studies 13, 521–547] that stock market returns are negatively correlated with stock market volatility.     

Institutional Monitoring: Evidence from the F‐Score

The extant literature shows that institutional investors engage in corporate governance to enhance a firm's long‐term value. Measuring firm performance using the F‐Score, we examine the persistent monitoring role of institutional investors and identify the financial aspects of a firm that institutional monitoring improves. We find strong evidence that long‐term institutions with large shareholdings consistently improve a firm's F‐Score and that such activity occurs primarily through the enhancement of the firm's operating efficiency. Other institutions reduce a firm's F‐Score. Moreover, we find evidence that, while monitoring institutions improve a firm's financial health, transient (followed by non‐transient) institutions trade on this information.     

物流信息化因素识别与选取的探讨

物流信息化因素识别与选取是对物流信息化相关问题进行分析和研究的基础。通过阐述物流信息化概念,分析物流信息化系统及其组成结构,依据物流信息化系统组成框架,针对物流信息化因素识别问题设计物流信息化因素调查量表,采用因素分析法并运用统计分析软件对量表数据进行处理分析,提取6个因素作为物流信息化主因素,从而实现对物流信息化因素的识别与选取。     

适应铁路集装箱加快发展形势 全面实施人才队伍建设工程

在阐述铁路集装箱加快发展对人才队伍需求大幅增长新形势的基础上,分析当前全路集装箱人才队伍现状及队伍建设方面存在的问题,对加强铁路集装箱人才队伍建设提出建议：着力推进专业人才队伍建设工程,重点建立经营管理人才队伍培训体系,强力推进领导干部队伍素质建设工程,建立和完善人才培养、使用、激励有效衔接的闭合管理系统。     

中部欠发达地区县域中小企业融资状况的思考

中部县域经济欠发达,农业基础牢固,工业相对薄弱。种种原因使得中小企业融资难问题日益加剧,这制约着企业的可持续发展。     

Relationships of providing and receiving leisure social support to stress in older adults

Leisure has become a topic of interest in stress-coping research. This study examined the relationships between receiving leisure social support, providing leisure social support, leisure self-determination and leisure competence in older adults and their stress. A total of 639 community-dwelling older adults were recruited. Data were collected using face-to-face surveys, which included measures of leisure social support (receiving and providing), leisure self-determination, leisure competence and stress. Data were analysed using regression analysis. The results indicated that receiving leisure social support, providing leisure social support, leisure self-determination and leisure competence were significantly and negatively correlated with stress and that providing leisure social support was more significantly correlated with reduced stress than the other leisure factors. Implications of the results are discussed.     

The influence of attitudes towards healthy eating on food consumption when travelling

This study explores tourists' attitude towards healthy eating and its influence on their travel eating behaviour. Based on focus group interviews and literature review, two instruments were developed to measure healthy eating attitude and travel eating behaviour. Factor analysis results revealed two healthy eating attitude factors (‘food content and nutrients’ and ‘balanced diet and eating habit’), and five travel eating behaviour factors (‘novelty’, ‘risk avoidance’, ‘health steadfastness’, ‘familiarity’, and ‘food supplement and medicine’). The relationships among the factors were examined using structural equation modelling. The findings revealed that respondents who had a stronger attitude towards ‘balanced diet and eating habit’ tended to be more motivated by the ‘novelty’ factor; whereas ‘risk avoidance’, ‘health steadfastness’ and ‘familiarity’ were found to be associated with a stronger attitude towards ‘food content and nutrient’. The findings suggest that the healthy eating attitude construct is multidimensional and healthy eating conscious tourists should not be treated as a homogeneous group.