Powerful CEOs and Their Impact on Corporate Performance

Executives can only impact firm outcomes if they have influenceover crucial decisions. On the basis of this idea, we developand test the hypothesis that firms whose CEOs have more decision-makingpower should experience more variability in performance. Focusingprimarily on the power the CEO has over the board and othertop executives as a consequence of his formal position and titles,status as a founder, and status as the board’s sole insider,we find that stock returns are more variable for firms run bypowerful CEOs. Our findings suggest that the interaction betweenexecutive characteristics and organizational variables has importantconsequences for firm performance.     

Negative customer engagement behaviour: the interplay of intensity and valence in online networks

ABSTRACT

Recent marketing and service research highlights the detrimental impact of negative customer engagement behaviour (CEB) in online social networks. Nevertheless, the extant literature captures the impact of what customers say about service providers in their negative reviews and fails to provide any understanding of different intensity levels of negative engagement. This article marks the first attempt to provide a more nuanced view of negative CEB by investigating the impact of six forms of negatively valenced influencing behaviour (NVIB) using two online experiments. Our results provide new insights into intensity levels of NVIB and how they are moderated by positive reviews. Practically, this paper addresses one of the challenges for service providers in managing NVIBs, centred on understanding the heterogeneity of its forms. The results suggest that managers use semantic tools to detect the intensity levels of NVIB and to prioritise handling and/or mitigating the more intense NVIBs when they occur.     

Generalized habit formation in an Inverse Almost Ideal Demand System: An application to meat expenditures in the U.S.

The Inverse Almost Ideal Demand System (IAIDS) model of Moschini and Vissa (1992) and Eales and Unnevehr (1994) is extended to include: (1) general, nonlinear, nonadditive habit effects; and (2) a specification for habit stock terms that allows purchases from the distant past to influence current consumption (long memory). The resulting models are compared with a linear habit effects model and a static specification. The empirical estimation is on U.S. quarterly meat expenditures (1961–1993), with each model being subjected to a battery of misspecification tests. Results of these tests, along with tests of homogeneity and symmetry restrictions, indicate clearly that the most generalized dynamic specification-the one with nonlinear, nonadditive long-memory habit stock effects-is preferred. Furthermore, persistence effects are found to be qualitatively important in that flexibility, consumption scale, and habit flexibility estimates differ, in some instances substantially, between alternative specifications.     

Subtle world: Beyond sustainability, beyond information

A number of authors have examined the relationship between sustainability and information technology, most acknowledging that the connection is complex and problematic. In this essay, we revisit aspects of the debate and explore the relationship between sustainability and information at a fundamental level. We argue that the connection should be approached with caution and skepticism since it does little to address or edify the challenges of the ecological crisis. We conclude by exploring the shapes of a different, and hopefully more productive, kind of discourse.     

Overseas Chinese Entrepreneurs： Second Force of Chinese Economy

Most of the foreign-funded enterprises in China are in fact funded by overseas Chinese. They have made indelible contributions to China＇s remarkable economic achievement. Their pioneering spirit has already been written into the glorious annals of China＇s economic development!     

Housing Return and Construction Cycles

This paper presents a general equilibrium model of the residential housing market. Within the model housing returns, housing construction, mortgage loan terms, and household maintenance behavior are all endogenous. These interacting elements tie expected housing returns to expected changes in family wealth. As a result: (1) families are credit constrained; (2) mortgage loan-to-value ratios can be used to forecast future housing returns; (3) developers acquire land when expected housing returns lie above the rate of interest and then develop when housing returns lie below. Thus, their holdings and construction decisions also forecast housing returns.