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.     

论海湾河口水环境治理制度建设的理论基石

通过对经济学与管理学的相关文献与理论的梳理分析,提出海湾河口水环境治理制度建设的四块理论基石:海岸带综合管理理论、湖泊流域水环境管理理论、环境产权理论、合作型环境治理理论,以期为建立海湾河口水环境治理制度体系提供理论依据和指导。     

“四港合一”背景下广西北部湾港口发展现状研究

首先分析了广西北部湾钦州港、防城港、北海港、铁山港实现"四港合一"的必要性以及可实现的增效效益,接着分析了"四港合一"面临的困境,提出了实现"四港合一"的发展对策。     

Opening the Black Box of Upper Echelons in China: TMT Attributes and Strategic Flexibility

Many scholars have suggested that strategic flexibility is a critical firm capability to survive in today's competitive arena. The decision to take strategic actions to make the firm more strategically flexible typically originates in the top management team (TMT). As the principal decision‐making unit of the firm, TMT members' information acquisition and processing capabilities and subsequent interpretation of environmental changes critically influence the decision to make the firm more strategically flexible to achieve a better fit with its market environment. Therefore, in order to understand how firms can adapt to environmental changes, scholars must study the sociopsychological processes of interaction among members of the TMT. This study examines the relationships between TMT's sociopsychological attributes (shared vision, social integration, and political ties) and strategic flexibility, which is decomposed into organizational flexibility and technological flexibility. The study further investigates how the level of competitive intensity can moderate the relationships. All the hypotheses are tested using structural equation models based on the survey data from 227 firms in China. The results show that organizational flexibility mediates the impact of TMT's social integration and political ties on technological flexibility. Surprisingly, a TMT's shared vision for the firm neither impedes nor facilitates the firm's effort in attaining the desired degree of organizational flexibility. However, TMT's shared vision does have a positive and direct impact on technological flexibility. Moreover, intense competition amplifies the positive impact of TMT social integration on the degree of organizational flexibility, but there is no significant moderating effect of competitive intensity on the relationship between a TMT's political ties and organizational flexibility. The results extend previous research by highlighting the importance of TMTs' sociopsychological attributes in driving technological flexibility, through the mediating impact of organizational flexibility.     

Opportunity recognition and SME performance: the mediating effect of business model innovation

Opportunity recognition is vital for small and medium-sized enterprises (SMEs), but SMEs face challenges in capturing recognized opportunities. Given that opportunity recognition does not automatically lead to higher SME performance and that SMEs need to take appropriate actions to exploit recognized opportunities to achieve better performance, it is imperative to explore the mediators that enable SMEs to translate opportunity recognition into higher performance. This study proposes that business model innovation may be a key conduit through which opportunity recognition affects SME performance. Based on a dataset of 155 SMEs, we find that the positive relationship between opportunity recognition and SME performance is mediated by business model innovation. These findings not only aid SMEs in accomplishing the performance effect of opportunity recognition, but also provide some insights into the implications of business model innovation.     

跨境电子商务背景下中非贸易发展浅析

】中非贸易对中国和非洲各国的经济发展有着重要意义。基于此，本文分析了跨境电子商务背景下中非贸易的发展现状和存在的问题，认为 非洲电子商务平台之间存在竞争愈发激烈、物流成本昂贵、贸易摩擦频发、专业人才不足的问题，提出了加强中非经贸合作和交流、建立物流风险应 急机制、培养中非跨境电子商务专业人才、帮助非洲进行基础设施建设、充分挖掘国内消费潜力、丰富产品品类，推动产品本土化的建议。     

基于跨境社交平台的产品推广模式研究

论文调查分析了近年来热度较高的跨境社交媒体平台以及相关使用数据,利用相关性分析方法分析了多个平台的数据,在此过程中发现了各平台间具有相当高的互惠性,并运用互惠比例和推广方式适配度模型完成了对跨境社交平台的运行模式以及推广方式的对比分析,最终研究得出跨境社交媒体平台的产品推广模式。     

浅析新形势下财务管理对石油化工产业的作用

石油化工产业相较于其他的行业具有较大的发展规模,并且具有很强的经济实力。在开展日常管理工作中,相关事务较为繁杂,尤其是企业管理层具有较为复杂的结构,经营的主要业务为国家原油及与化工有关的产品,因此,其经营活动有着较高的风险。在这样的情况下,石油化工企业为了自身的可持续发展,应该确保财务管理工作与自身发展趋势相符合。     

The Chinese Stock Dividend Puzzle

In this paper, we examine the announcement effects of dividends with an emphasis on stock dividends in China's capital market. We find that dividend-paying stocks exhibit significantly positive abnormal returns while non-dividend-paying stocks show a negative announcement effect. Further, we document that the cumulative abnormal returns for pure stock dividends and combined dividends are the main drivers of this announcement effect. In contrast, pure cash dividend stocks experience no significant price run-up before announcement. The significant announcement effect of stock dividends is robust to controlling the earnings surprise effect. We offer some discussion of the possible explanations.