Incentives to move up: Effects of pay gaps between levels on employee performance

Employees of a certain rank are motivated by the pay gap between them and the levels above (upward comparison), and the pay gap between them and the levels below (downward comparison). In some cases, employees face multiple upward comparisons such as immediate and subsequent upward comparisons. We hypothesise that upward comparison matters more than downward comparison, and in the case of multiple upward comparisons, the immediate one matters more than the subsequent ones. We also hypothesise that the pay gap effect resulting from the upward/downward comparison ought to be non‐linear in that performance increases with pay gap size at a decreasing rate. The results from two empirical studies, namely, a longitudinal field study and a laboratory experiment, largely support our hypotheses.     

Organisational regulatory legitimacy,entrepreneurial orientation,and SME innovation: an optimal distinctiveness perspective

The optimal distinctiveness perspective argues that firms face competing pressures to be both ‘like’ and ‘different from’ their peers. On the one hand, institutional scholars assert that firms need to be similar to peers in order to gain legitimacy. On the other hand, strategy scholars insist that firms need to strive to be different to gain competitive advantage. In order to enrich the optimal distinctiveness perspective, the present study builds a conceptual model that addresses the relationships among organisational regulatory legitimacy, entrepreneurial orientation, and SME innovation under the context of China’s transition economy. Our empirical results show that organisational regulatory legitimacy has an inverted-U relationship with SME innovation. Further, entrepreneurial orientation strengthens this inverse-U shaped relationship. That is, entrepreneurial orientation magnifies both the positive and the negative effect of organisational regulatory legitimacy on SME innovation. This study echoes to the call to conduct broader optimal distinctiveness research by integrating institutional theory and strategic management. Furthermore, our findings provide new evidence for the strategic balance perspective of optimal distinctiveness.     

区域规划的必要性与困境:从英格兰废止"区域空间战略"所引发的思考

面对全球经济衰退和地方可持续发展的严峻挑战,英国政府自2010年以来,为解决规划体系存在的层级过多、官僚、效率低下等弊端,通过重构空间规划体系,调整规划和发展之间的关系,实现经济的复苏.英国空间规划体系改革废止2004年《规划和强制收购法》所设立的法定"区域空间战略",区域协调出现问题.区域间的协作长期以来就是空间规划的一个难题,解决这个难题有两种模式,一个是政府行政的模式,另一个是市场和经济的模式.由于英国 自身具有自由裁量权特征的规划体系,区域间各方的合作十分重要,但以什么机制开展协作一直未能解决.这次的改革废除了区域规划和区域机构,希望以市场的手段进行协调、平衡区域间各方的利益在理论上具有操作性,但至今为止的实际运作并不理想.     

Does economic policy uncertainty raise corporate precautionary cash holdings? Evidence from China

Using China as the research setting, this paper investigates the relationship between economic policy uncertainty and corporate precautionary cash holdings. Empirical results show a U-shaped relation between economic policy uncertainty and corporate precautionary cash holdings. Empirical analysis, in terms of ownership structure, firm size, corporate competitiveness and geographical location, further shows that (i) the effects for economic policy uncertainty in both state-owned and non-state-owned enterprises are significant, but the effect is stronger for state-owned enterprises; (ii) such significant effect is also found more strongly in small and medium-sized enterprises and highly competitive enterprises; and (iii) the effects for eastern, central and western China are all statistically significant, but the effect is strongest for eastern China.     

基于价值链的全过程工程咨询业务流程再造研究

基于价值链视角对全过程工程咨询业务再造流程进行分析与构建,以期使重构后的流程体系更好的适应全过程工程咨询业务的发展需求.通过对全过程工流程再造动因及可行性进行分析,然后确定价值目标,构建价值链模型对工程咨询业务服务流程进行再造重组.旨在为工程咨询企业进行业务整合和转型升级提供了具体可行的全过程工程咨询业务流程再造实施方案.     

Social media bots and stock markets

This study examines the link between information spread by social media bots and stock trading. Based on a large sample of tweets mentioning 55 companies in the FTSE 100 composites, we find significant relations between bot tweets and stock returns, volatility, and trading volume at both daily and intraday levels. These results are also confirmed by an event study of stock response following abnormal increases in the volume of tweets. The findings are robust to various specifications, including controlling for traditional news channel, alternative measures of volatility, information flows in pretrading hours, and different measures of sentiment.     

校企关系与企业R & D投入研究

校企关系被看作是企业与高校交换创新资源的重要纽带,备受国内外学者关注，但其对企业的影响尚未得到一致结论，校企关系是否促进企业技术创新能力提升、降低企业创新投入成本有待进一步研究。以我国2009—2014 年高校上市公司为研究样本，建立回归方程模型，研究了高校和企业间关系对公司R&D投入的影响。实证研究表明，我国高校上市公司中不同属性的校企关系对企业研发投入的影响不同。其中，以高校持股比例为指征的校企关系与公司研发投入呈正相关关系，高校股权可以促进企业研发投入；以高校股东分红比例和高校从业经历高管比例为指征的校企关系与研发投入呈负相关关系，以政府补助为指征的校企关系对高校控股上市公司和非控股上市公司研发投入的影响不同。     

新时期做好企业思想政治工作的四大维度

企业思想政治工作是党的思想工作的重要组成部分。加强企业思想政治工作,需要从完善企业思想政治工作的运行机制、注重企业思想政治工作的开拓创新、丰富企业思想政治工作的文化内涵、培育企业思想政治工作干部队伍四大维度努力。