Winning us with trifles: Adverse selection in the use of philanthropy as insurance

Research Summary: We study the use of corporate philanthropy as a form of reputation insurance, developing a formal model of such insurance to examine how the terms of insurance in equilibrium change under different assumptions about the firm and its stakeholders. We then test the predictions from this model in the U.S. petroleum industry and find that philanthropic donations offer insurance‐like benefits, but are also positively associated with subsequent oil spills—firms that give more, spill more—with this association being stronger for spills that are under firms’ control and in states with low civic capacity. These results are consistent with an adverse selection/moral hazard equilibrium and suggest that the use of philanthropy as reputation insurance may benefit firms at the cost of society. Managerial Summary: Firms that donate to social causes develop a reputation for being socially responsible, and are often given the benefit of doubt when negative information about them comes to light. But are philanthropic firms truly more responsible? We argue that firms that donate more may be more likely to do harm—those that expect to do harm later are likely to give more now, and those that know their reputation protects them may become less careful. Evidence from the U.S. petroleum industry is consistent with this argument, with firms that give more having more subsequent oil spills, but only the type of spills that are under the firm's control, and only in states where the firm faces weaker scrutiny.     

<Emphasis Type="Italic">Guanxi</Emphasis> circle and organizational citizenship behavior: Context of a Chinese workplace

According to leader-member exchange (LMX) theory, good vertical working relations encourage organizational citizenship behavior (OCB) that benefits organizations. But how does supervisor-subordinate guanxi influence employees’ extra-role behaviors in relation to organizational interests? To answer this question, this paper examines a particular structural phenomenon in the context of the Chinese workplace. Guanxi circles (the phenomenon under investigation) are ego-centered guanxi networks with a powerful person at the center. Although a circle leader and his or her group members exchange favors for private goals, they need to actively balance their own interests with the interests of people/groups outside the guanxi circle; so as to maintain a harmonious relationship with the larger network. For this reason, extra-role performance benefiting the larger network is encouraged in the management of a guanxi circle. By studying survey data from China, we demonstrate how a wide variety of circle roles facilitate extra-role performance, and ultimately benefit the organization as a whole. Circle bridges have higher OCB toward organizations (OCB-O) than peripheral members of a circle, who in turn have higher OCB-O than core members of the same circle.     

企业集约经营获利能力的模糊综合评价

在财务分析与评价中,企业获利能力的评价是一项极为重要的组成部分。从企业的经营管理者,到企业的所有者,以及企业的投资人和潜在的投资者,都极为关注企业获利能力这一指标。因为获利能力反映了企业有效运用资源的能力,反映了企业的实力与发展潜力,是利害关系人采取相应决策的重要参考依据。但长期以来,对企业获利能力的评价考虑因素不全面,而且仅局限在财务报表所提供的财务数据中,用销售利税率、成本费用利润率、资本     

浅析连锁便利店之竞争优势

我国连锁便利店自20世纪90年代初开始出现以来,发展迅速,大有星火燎原,全国蔓延之势,但背后蕴藏着潜在的危机和薄弱环节。本文主要阐述连锁便利店如何形成自己的竞争优势,在需求过剩、市场激烈竞争中脱颖而出。     

股票价格服从分数布朗运动的再装期权定价

未定权益的定价是金融工程研究的前沿与热点问题。本文在标的资产的价格服从分数布朗运动的假设下,在风险中性条件下,运用鞅方法,导出了再装期权的定价公式。     

港航管理类专业实践教学的改革与实践探讨

高职教育必须高度重视实践教学,是人才培养质量的关键,本文依据港航管理类专业的特点,结合笔者近年来主管教学实践的经验,探析了港航管理类专业实践教学的现状及存在问题,提出应将实践教学的改革作为专业教学改革的重中之重,并对其改革措施作了一些理性思考。     

基于Flexsim物流仿真的仓储作业系统优化设计

在对Flexsim系统仿真软件分析的基础上构建某仓储物流作业系统,然后对出入库作业进行仿真模拟,并且进行仿真实验和数据分析,对系统优化提出改进策略。     

超滤膜性能指标检测技术现状

本文简要介绍了超滤膜的起源及发展前景,分析了开展超滤膜性能指标检测方法研究的必要性,通过分析和总结调研结果,初步提出超滤膜性能评价指标,并简要阐述了各项指标检测方法的研究现状,最后对于改善超滤膜性能指标检测方法研究现状提出几点建议。     

中外双方对合资子公司的控股博弈——基于行为战略的考察

许多外商通过合资方式对我国进行直接投资时,倾向于对合资子公司进行控股,而我国的一些本土企业也追求合资子公司的股权控制,于是中外双方展开控股博弈。我国企业要想在博弈中处于有利地位,不仅要运用适当的策略,还要注重增强自身的经济实力和竞争优势。     

服务属性重要性程度差异的实证研究

各类服务属性对顾客满意感的影响有明显差异。本研究以上海市三家三级甲等医院的医疗服务为对象,采用因子分析及多元线性回归方法进行实证研究。研究发现在给定环境条件下,不同服务属性在服务质量管理中的重要性程度存在着差异。