The Dynamics of Influence in Corporate Co‐Evolution

This paper aims to offer new theoretical and empirical insights into co‐evolutionary development. Theoretically, it advances a political perspective which focuses on the role of power and how this can be translated into influence as an evolutionary driver through the relational framework between an organization and external parties. Empirically, the paper elaborates this perspective by reference to how China's largest container terminal evolved within a changing environment, and how its evolution in turn impacted on the evolution of its sector. In this case, the key relational framework was that between the organization and government institutions. Application of a political perspective to the case study suggests a theoretical model that can inform future research and practice.     

Neoliberalism in the Laboratory? Experimental Economics on Markets and their Limits

Experimental economics is now part of mainstream economics and is fast becoming one of its most influential methods. Drawing on the distinction between market and behavioural experimentation, this article assesses the compatibility of the most influential experimental research with the neoliberal understanding of the political and moral preconditions for markets to develop. A politically relevant asymmetry at the core of this research programme will be signalled: while issues of political economy are eschewed by market experimenters (for example, whose interests are favoured and whose groups have power in economic processes), topics of moral economy are recognised and dealt with by behavioural experimenters (for example, the interactions between economic institutions and individuals' motivations and moral make-up). It is argued that experimental research has thereby contributed to a depoliticised and moralised view of markets, one that tends to present markets as a civilising institution once their technical and moral failures are recognised and adequately dealt with.     

Optimal portfolio choice for a behavioural investor in continuous-time markets

The aim of this work consists in the study of the optimal investment strategy for a behavioural investor, whose preference towards risk is described by both a probability distortion and an S-shaped utility function. Within a continuous-time financial market framework and assuming that asset prices are modelled by semimartingales, we derive sufficient and necessary conditions for the well-posedness of the optimisation problem in the case of piecewise-power probability distortion and utility functions. Finally, under straightforwardly verifiable conditions, we further demonstrate the existence of an optimal strategy.     

Play it again: how game-based learning improves flow in Accounting and Marketing education

ABSTRACT

Flow theory is used in this article [Csikszentmihalyi, M. (1990). The domain of creativity ] to determine whether gamified resources, named Accountingame and Marketingame, possess certain characteristics which, in the form of educational games, increase the performance of Portuguese undergraduate students attending Accounting (N?=?816) and Marketing (N?=?195) curricular units for the first time. A structural equation model was used to look into the direct effects of the characteristics of the game, such as Concentration, Clarity, Feedback, Challenge, Autonomy, Social Interaction, and Perceived Learning, on students’ learning Flow. Results clearly show that, with the exception of Feedback, all the other dimensions were Flow predictors. Overall, by introducing games into the curriculum, students’ motivation and interest increased and demonstrates that games can be an effective way for students to learn.     

Accounting for financial instruments: An analysis of the determinants of disclosure in the Portuguese stock exchange

This paper studies the determinants of disclosure level in the accounting for financial instruments of Portuguese listed companies. An index of disclosure based on IAS 32 and IAS 39 requirements is computed for each company. The analysis includes variables that capture intrinsic features of Portuguese companies and institutional regulatory context, such as capital structure and characteristics of the corporate governance structure, within contingency theory. We could not find any significant influence of corporate governance structure or of financing structure. We conclude that the disclosure degree is significantly related to size, type of auditor, listing status and economic sector. This research reveals areas for improvement of Portuguese companies' reporting practices and suggests areas for intervention of the Portuguese capital markets regulator in the context of mandatory IAS after 2005.     

中国生物燃料需求与巴西乙醇

中国gdp快速增长的同时带来严重的大气污染,因此中国政府正在寻求一种更加环保的可再生绿色燃料来满足国内的运输需求。生物燃料是一种从生长过程中吸收co2的植物中提取出来的新型燃料,尽管中国国内并没有足够的农用土地来生产满足其未来消费需求的生物燃料,但是选择生物燃料仍然不失为污染问题的部分解决方法。由于巴西从甘蔗中提取的乙醇比其他国家从谷物中提取的乙醇便宜且排放更少的温室气体,因此从巴西进口乙醇可以说是中国政府最好的选择。加上巴西不但在乙醇工业部门有着其特殊的技术,而且拥有大量的劳动力,丰富的水源和闲置的农业用地,这些条件足以为中国额外生产85亿升的乙醇来满足中国到2020年对乙醇的需求量。     

Motivation in sport and exercise: a comparison between the BRSQ and BREQ

Quality & Quantity - This study aimed to test whether the Behavioral Regulation in Sport Questionnaire and the Behavioral Regulation in Exercise Questionnaire can measure the same constructs in...     

Serving SMEs Via the Stock Exchange: Historical Lessons from the Lisbon Stock Exchange

The development of large companies in the western world — many being huge multinational corporations — and the sheer size of their financial needs has given an added importance to tradability, a fact that can clearly be gauged by the recently discovered “high frequency trading” (HFT) operations which are only possible with large issues. Also contributing to the importance of tradability is the recent demutualization of most exchanges during the 1990s, which turned them into for-profit organizations. In fact, large issues of shares or bonds allow economies of scale, and generate experience in listing practices and trading operations, thereby enhancing the profitability of those commercially oriented stock exchanges. Thus, small and medium enterprises (SMEs) are now much less attractive to these organizations, as compared to large enterprises (LEs), due to their inherent lack of liquidity and to the economies of scale. We discuss the barriers before SMEs, which require special accommodations to be able to raise stable funds for their development.