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51.
John L. Campbell Hye Seung “Grace” Lee Hsin-Min Lu Logan B. Steele 《Contemporary Accounting Research》2020,37(2):1140-1171
We argue that volatility in a manager's disclosure tone across time should be a function of two components: (i) the firm's innate operating risk and (ii) the extent to which the manager's disclosure transparently reflects that risk. Consistent with this argument, we find that both operating risk and disclosure transparency are important determinants of disclosure tone volatility. We then examine whether investors incorporate the incremental information provided by disclosure tone volatility into their assessments of firm risk. If disclosure tone volatility primarily provides investors with incremental information about a firm's operating risk, we should find a positive association between tone volatility and market-based assessments of risk. On the other hand, if disclosure tone volatility primarily provides investors with incremental information about a manager's disclosure transparency, we should find a negative association between tone volatility and market-based assessments of risk. Consistent with an operating risk explanation, we find a positive association between disclosure tone volatility and market-based assessments of firm risk after controlling for a comprehensive set of proxies for operating risk and transparency. We find little support for an information risk explanation, even when we examine multiple measures specifically designed to capture information risk. Taken together, our results suggest that although disclosure tone volatility is a function of both a firm's operating risk and a manager's disclosure transparency, investors appear to respond as if disclosure tone volatility only provides incremental information about a firm's operating risk. 相似文献
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Sultanuzzaman Md Reza Hongzhong Fan Banban Wang Miraj Ahmed Bhuiyan Adnan K. M. Mehedi 《International Trade Journal》2019,33(1):95-110
ABSTRACTThis article examines the effects of trade (exports) on the economic growth of Bangladesh from 1986 to 2016, using the application of a Johansen cointegration and vector error correction model. The empirical findings exhibit that trade (exports) has a unique long-run equilibrium relationship with the economic growth of Bangladesh. The short-run results also display a robust causality between variables. This study suggests that exports play a major role in the growth of Bangladesh. Policymakers should promote the export of goods and services, especially manufactured goods, in the long term, in order to possibly reduce the trade deficit and rapidly stimulate the growth of Bangladesh. 相似文献
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The purpose of this study was to understand interrelationships among customers’ perception of nonverbal communication, customers’ emotional responses and customer satisfaction in the family restaurant. A total of 333 customers in Korea participated. The results showed that employees’ kinesics and proxemics among nonverbal communications have a significant effect on customers’ positive emotions, while employees’ kinesics and paralanguage affect customers’ negative emotions. Also, it was found that whether customers feel positive or negative determines their satisfaction. Limitations and future research directions are also discussed. 相似文献
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Shida Rastegari Henneberry Muhhamad Ehsan Khan Kullapapruk Piewthongngam 《Agricultural Economics》2000,22(1):17-27
This paper empirically analyzes the relationship between Pakistan's industrial and agricultural sectors. Pakistan was chosen because of its status of a semi‐industrialized country with heavy dependence on the agricultural sector. The relationship between cotton production and industrial growth is also evaluated due to the prominence of this crop in Pakistani agriculture. The results indicate that these sectors are complementary, yet industry tends to benefit more from agricultural growth than vice versa. The timing of this information is critical, as Pakistan's policy makers now face major agricultural policy reforms in their quest for continued industrial development. 相似文献
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Service Business - Emotional contagion is important in predicting employees’ behaviors and organizational performance, as people are inevitably affected by emotions. This study examines the... 相似文献
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Xia Wanjun Doğan Buhari Shahzad Umer Adedoyin Festus Fatai Popoola Abiodun Bashir Muhammad Adnan 《Portuguese Economic Journal》2022,21(2):239-266
Portuguese Economic Journal - Due to urbanization and the need for people to go from one country to another either for commercial purpose or tourism, it is therefore important to determine the... 相似文献
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The deregulation and liberalization process towards establishing a single European financial market has some important implications for the insurance industries. Due to the increased competition, insurance firms have to adjust their costs and operate efficiently to survive in this new environment. This paper attempts to analyze the cost efficiency and scale economies in the single European insurance market. Considering the ongoing enlargement process of the EU, our sample includes the insurance industries of the major EU‐15, four new members and a candidate country, Turkey, over the period 1995–2005. We use the firm‐level financial data and estimate a stochastic cost frontier that controls for differences in environmental conditions. All insurance systems display significant levels of cost inefficiency. The results further indicate that there are significant economies of scale, particularly for small‐ and medium‐size insurance firms. Finally, the analyses suggest similar results for major EU countries, new members and the candidate. 相似文献
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This study investigates the content of diet websites in the United States (US), United Kingdom (UK), and Korea from a cross-cultural perspective using two cultural typologies: Hofstede's individualism-collectivism and Hall's low-high context. The results show a balance of the universal features and culture specific characteristics in the websites. Interestingly, the UK was in the middle between the US and Korea in several features even though the UK and the US typically had been generally included in the same cultural group in advertising studies. It was also determined that neither Hofstede's typology nor Hall's high-low context is enough to explain the cultural representations found on the websites. The need for new typologies for explaining or categorizing the cultural characteristics in advertising is suggested. 相似文献