The role of economic and normative signals in international prosocial crowdfunding: An illustration using market orientation and psychological capital

Entrepreneurs in emerging nations are increasingly seeking microloans on international crowdfunding platforms composed of prosocial lenders primarily seeking non-monetary returns. Drawing on signaling theory, we posit that economic signals (as illustrated by market orientation) and normative signals (as illustrated by psychological capital) embedded within borrower narratives will influence funding time. A Computer-Assisted-Text-Analysis (CATA) of 130,964 profiles across 49 countries suggests that borrower cues of customer orientation, competitor orientation, long-term focus, profitability focus, confidence, and optimism are positively associated funding time, while cues of coordination, hope, and resilience are negatively associated with funding time. Prosocial lenders seem less inclined to lend to borrowers that exhibit a desire for economic success or normative expectations for positive outcomes in the future, while they seem to lend more rapidly to those exhibiting current hardship or a concern for people. A discussion of these findings and their implications for poverty alleviation concludes the study.     

Quantitative Assessment of U.S. Wheat Performance for Quality Characteristics

Quality of U. S. grain exports has been a contentious issue over the past decade. Nowhere is the issue more hotly debated than for wheat. At the core of the debate has been the ability of Canada to command a premium for its wheat in foreign markets. Buyers' perceptions of quality have been suggested as an explanation, but empirical evidence on the quality attributes responsible for this country-of-origin premium has been limited to hedonic pricing studies. This paper quantifies purchasers' perceptions of the relative importance of quality characteristics for the world's major importing countries. This is done by calculating three indices. The attainment index measures how well buyers' perceptions of the importance of the characteristic matches buyers' perceptions of how well it is being supplied. The supply index measures buyers' perceptions on how well a characteristic is being supplied. The demand index measures how important the buyers perceive a particular characteristic to be. Then buyers' perceptions of the performance of U.S. and Canadian wheats are evaluated, given the perceived importance of each characteristic, and related to previous empirical results. Finally, these results are compared for alternative groupings of importing countries.     

Momentum and reversals in Taiwan index futures returns during periods of extreme trading imbalance

The study analyzes the relation between a trading imbalance metric that captures data observable by investors, and future momentum and reversals in Taiwan index futures returns. Standard regression analyses do not show any significant dynamic relations between daily index futures returns and the trading imbalance, regardless of whether the trading imbalance metric is lagged, contemporaneous, or leads the index futures return. However, when the analyses are focused on periods with extreme trading imbalances I find that the daily index futures returns exhibit significant reversals following periods of extreme (low) trading imbalances and low returns. I also find some evidence of residual momentum in consecutive daily index futures returns following periods of extreme (high) trading imbalances and high returns. Trading simulation, directional accuracy, and market timing tests show these effects to be economically significant, even after accounting for transaction costs.     

Influences on coastal tourism demand and substitution behaviors from climate change impacts and hazard recovery responses

Climate change impacts can negatively affect tourism demand and, subsequently, local economies by disrupting access and altering physical conditions, including those from adaptation and recovery efforts. Research is needed that helps destinations become more climate ready, including studies of decision factors that influence trip-taking behaviors. This paper presents findings from a discrete choice experiment to determine how physical and economic changes could affect visitation behaviors to a vulnerable coastal destination, the Outer Banks region of North Carolina, USA. We embedded our experiment within an on-site visitor survey to reveal thresholds of negative changes to coastal attributes that tourists are willing to tolerate, and also examined tourists’ willingness to substitute their future trips to the region. Transportation-related changes had the highest relative importance among the four selected attributes. The likelihood of three types of spatial substitution, spurred by not being able to access the destination, were consistently related to residency but less consistently related to place meanings, visitation history, and other demographic variables. Study results can inform climate change planning within coastal zones to minimize negative impacts to tourism demand, such as the need to develop creative revenue streams to maintain resilience in communities that rely on occupancy taxes.     

刍议跨国并购交易中的几个关注因素

在全球经历了五次并购浪潮后，越来越多的中国公司希望通过跨国并购的形式寻求海外投资机会，实现跨越式发展。有鉴于此．中华咨询与美国波士顿商学院联合进行了跨国并购领域的专项研究，     

Community gardening and health-related benefits for a rural Victorian town

Community gardens are growing in popularity as a strategy to effectively deal with population health at a local level. There is a need to gather information about the health-related benefits of community gardens for people living in a rural locale. This paper discusses the health-related benefits of rural community gardens. We adopted a qualitative approach to examine these issues. Ten participants, eight females and two males, aged between 50 and 82, who have participated in a community garden located in South Gippsland, Victoria, for a minimum of 12 months, took part in this study. Semi-structured interviews that lasted between 30 and 60 min were conducted to explore the perspectives and lived experiences of the participants. Thematic analysis was utilised to analyse the data. We situate our discussion in this paper within the therapeutic landscape theory. Findings indicate that there is a range of health-related benefits associated with participation in rural community gardens, including physical, nutritional, social and psychological. Despite these benefits, the participants wished to see some improvements that could attract more people in rural areas to participate in community gardens. Given the paucity of research available regarding rural community gardens, future research should continue to develop an understanding of these rural sites, especially given the ever-growing popularity of community gardens Australia-wide.     

An exploratory study of managerial compensation in the restaurant industry

ABSTRACT

Set within the human capital framework, the focus of this exploratory study is to investigate how individual and industry attributes affect the earnings of salaried restaurant managers in the United States. Previous compensation studies in the restaurant industry have almost exclusively focused on executive compensation and its relationship to a firm's financial variables. Given the size of the industry, it is important to investigate compensation practices at various levels of its leadership. The findings show that relevant work experience, gender, education, race, and property size are significant attributes effecting restaurant managers’ compensation. Practical implications are provided.