Chinese science and technology — Structure and infrastructure

This paper identifies and analyzes the science and technology core competencies of China, based on a sampling of approximately half of the total Chinese publication output in the Science Citation Index/ Social Science Citation Index (SCI/SSCI) [SCI. Certain data included herein are derived from the Science Citation Index/Social Science Citation Index prepared by the Thomson Scientific®, Inc. (Thomson®), Philadelphia, Pennsylvania, USA: © Copyright Thomson Scientific® 2006. All rights reserved. [1]] for 2005. Aggregate China publication and citation bibliometrics were obtained and a hierarchical research taxonomy, based on document clustering, was generated. Additionally, bibliometrics and thematic trends were tracked over the past two decades.The key findings were that China's output of research articles has significantly expanded in the last decade. In terms of sheer numbers of research articles, especially in cuting-edge technologies, such as nanotechnology and energetic materials, it is among the leaders. Compared to the USA, the bulk of China's articles focus on the physical and engineering sciences, while the USA articles (compared to China) focus on medical, social, and psychological sciences.     

Early Movers Advantage? Evidence from Short Selling during After‐Hours on Earnings Announcement Days

We examine short sellers’ after‐hours trading (AHT) following quarterly earnings announcements released outside of the normal trading hours. Our innovation is to use the actual short trades immediately after the announcements. We find that on these earnings announcement days, there is significant shorting activity in AHT relative to shorting activity both during AHT on nonannouncements days and during regular trading sessions around announcements. Short sellers who trade after‐hours on announcement days earn an excess return of 0.82% and 1.40% during before‐market‐open (BMO) and after‐market‐close (AMC)sessions, respectively. The magnitude of these returns increases to 1.48 (3.92%) for BMO (AMC) earnings announcements with negative surprise. We find that the reactive short selling during AHT has information in predicting future returns. Short sellers’ trades have no predictive power if they wait for the market to open to trade during regular hours. In addition, we find that the weighted price contribution during AHT increases with an increase in after‐hours short selling. Overall, our results suggest that short sellers in AHT are informed. Our findings remain robust using alternative holding periods and after controlling for macroeconomic news announcements during BMO sessions.     

Investigation of the use of eye tracking to examine tourism advertising effectiveness

Previous studies of printed marketing stimuli have used self-report measures to determine the relative preference for one advertisement among several different versions. This study uses Tobii^TM eye-tracking hardware and software along with self-report measures to compare the relative effectiveness of two versions of a tourism magazine advertisement. Data were collected from 25 respondents in a laboratory-based study. Analysis of data shows significant differences between the two advertisements tested with agreement between the eye-tracking and self-report results. These results indicate that eye-tracking methods are useful for analysis of tourist advertising.     

Systems-thinking social marketing: conceptual extensions and empirical investigations

ABSTRACT

Systems thinking dominated the 2015 World Social Marketing conference with the premise that a more holistic approach takes into account all the issues at play for effective change. Augmenting the broadening social marketing literature, we contend that systems-thinking social marketing enhances the field’s conventional behavioural change with concepts of scale, causation, and iterative co-creating change processes for complex health and environmental problems. The results of our empirical Sea for Society study, a sustainable European marine ecosystem examination of what the barriers to change are and how they are interrelated, find systems-thinking social marketing offers the potential to strategically and critically reinforce, not replace, behavioural change campaigns. With systems-thinking social marketing, a coherent theory of change becomes a possibility. Orchestrating social change may become a reality.     

A new family of copulas,with application to estimation of a production frontier system

Journal of Productivity Analysis - In the empirical literature, the analysis of aggregate productivity dynamics using firm-level productivity has mostly been based on changes in the mean of...     

University–firm competition in basic research: Simultaneous versus sequential moves

This paper studies the endogenous timing of moves in a game with competition in basic research between a university and a commercial firm. It examines the conditions under which the two entities end up investing in innovation at equilibrium, both under simultaneous and sequential moves. It argues that when the innovation process is not too costly, under any timing, the firm conducts research despite the opportunities for complete free-riding. The two sequential move games with either player as leader emerge as equilibrium endogenous timings, with both entities realizing higher profits in either outcome than in a simultaneous move game. Each entity also profits more by following than by leading. Finally, as a proxy for a welfare analysis, we compare the propensities for innovation across the three scenarios and find that university leadership yields a superior performance. This may be used as a selection criterion to choose the latter scenario as the unique outcome of endogenous timing.     

COVID-19, labor demand,and government responses: evidence from job posting data

Business Economics - Using high-frequency job advertisement data, this paper evaluates dynamics among COVID-19, labor market, and government policies. We find that COVID-19 has caused a significant...     

Exploring the link between internationalization of top management and accounting quality: The CFO’s international experience matters

This study examines whether and how top management internationalization is associated with accounting quality. We combine upper echelons perspectives, agency theory, human capital theory and accounting research, and demonstrate that top management internationalization mitigates the level of managerial discretion in financial reporting. By decomposing the top management team, our analysis reveals that higher levels of accounting quality are associated with the internationalization of the CFO, not the internationalization of the CEO. In particular, we find that CFO’s international education and international work experience are important factors in higher accounting quality.     

Adaptation strategies to increase advertisement effectiveness in digital media

Personalization can break through the information clutter in digital media and increase advertising effectiveness. However, the term personalization refers to many different adaptation strategies, each of which lead to distinct functional requirements for adaptive advertising systems: additionally, these adaptation strategies can affect consumers in different ways. Therefore, it is necessary to differentiate between them. To do so, we suggest the PERSIT matrix, which distinguishes between PERson-centric and SITuation-centric adaptation strategies. Studies in the field of digital-out-of-home advertising are structured using the six identified adaptation strategies for advertising. Furthermore, the PERSIT matrix supports users in making educated decisions by encouraging them to select an adaptation strategy that fits the desired advertising goals. The matrix establishes a common base of understanding between advertisers and system designers, allowing effective cross-domain communication.