Lead time reduction through ICT application in the footwear industry: A case study

This paper analyses some relevant supply chain management issues for Italian firms operating in the footwear industry. The analysis is carried out on representative firms, located in a specialized regional district with a high density of shoe manufacturing companies. Companies were experiencing substantial problems in the management of supplier relationships, as well as in the commercial/distributive channel. Specifically, synchronization issues in the logistics pipeline were weakening firms’ lead time performances.The case study presented strives to highlight the critical points in the set up of the supply chain management programme, as well as the main results obtained. The case study also shows that the adoption of tailored Information and Communication Technology (ICT) tools has the potential to save significant lead time in supplier/buyer relationships. From the case study, generalities can be drawn and transferred to the footwear industry.     

Empirical study of the subjective meanings of culture between American and Chinese

Subjective culture is a group's characteristic way of perceiving its social environment. This study analyzes cultural meanings through free verbal association derived from the Associative Group Analysis technique. More than one hundred important and relevant stimulus words were identified. Respondents were asked to list all the ideas associated with each stimulus word. The purpose is to find out the differences and similarities in the subjective meaning of selected words among American, Hong Kong and PRC Chinese. The research results provide empirical data on the understanding of culture-specific meanings of words. It is cultural experience that produces the unique distribution of association in a particular word. The spontaneously emerging response clusters offer deep insights into what is salient and what is dominant in the group's subjective meanings of selected themes.The authors are from The Chinese University of Hong Kong.     

Non-GAAP Earnings Disclosures on the Face of the Income Statement by UK Firms: The Effect on Market Liquidity

This study benefits by a special feature of the UK information environment which allows UK firms to disclose non-GAAP earnings on the face of the income statement to examine two interrelated questions. First, we ask whether the decision to disclose non-GAAP earnings on the face of the income statement is related to the firm's financial performance and corporate governance characteristics, and second, we investigate the effect of this disclosure decision on market liquidity. Using a dataset of 1227 hand-collected firm-year observations during the period 2006–2013, we show that better governed firms and firms with weaker financial performance are more likely to disclose non-GAAP earnings. Our evidence also suggests that this disclosure is associated with increased levels of market liquidity and the results hold after controlling for self-selection bias. We conclude that firms' decision to disclose non-GAAP earnings on the face of the income statement is more consistent with the incentive to provide information than to mislead the market.     

Christian Economic Thought in The Netherlands

The objective of this paper is to provide an insight into the ethics in the works of Christian economists in The Netherlands. The paper starts with a brief review of some key texts by Dutch Christian economists representing faith-based organizations. The next section presents a summary of (Dutch) Christian ethics, distinguishing four approaches: motivation, values, institutions, and instrumentalism. The following section will discuss some recent scholarly texts by Dutch Christian economists. It will be shown that three of the four ethical approaches are represented in these writings. In a comparison of the texts, the faith-based civil society economic thought seems to remain closer to the Christian ethics tradition. The last section will explain this gap by showing how, in faith-based civil society, morality is largely understood as being part and parcel of the economy, whereas in the academic economic literature, morality is largely regarded as belonging to the private sphere.

Asset bubbles in an overlapping generations model with endogenous labor supply

This paper examines the effects of asset bubbles in an overlapping generations model with endogenous labor supply. We show analytically that asset bubbles can lead to an expansion in steady-state capital, investment, employment and output under certain conditions.     

Decentralization Effects in Ecological Fiscal Transfers: A Bayesian Structural Time Series Analysis for Portugal

Portugal has a unitary system in which the central government transfers funds to lower government levels for their public functions. In 2007, Portugal introduced Ecological Fiscal Transfers (EFT), where municipalities receive transfers for hosting protected areas (PA). We study whether introducing EFT in Portugal incentivized municipalities to designate PA and has led to a decentralization of conservation decisions. We employ a Bayesian structural time series approach to estimate the effect of introducing EFT in comparison to a simulated counterfactual time series. Quantitative results show a significant increase in the ratio of municipal and national PA designations following Portugal’s EFT introduction—which we infer to be a causal consequence. The analysis furthermore places emphasis on the importance of relevant municipal conservation competencies for the functioning of the instrument. Results have important implications for conservation policy-making in terms of allocating budgets and competencies in multi-level governments.     

Same-Sex Couples in Advertisements: An Investigation of the Role of Implicit Attitudes on Cognitive Processing and Evaluation

This research examined how implicit attitudes are associated with cognitive processing and self-reported evaluation of advertisements featuring same-sex couples. Hypotheses were posited using the theoretical framework of social identity theory (Tajfel and Turner 1986) and perspectives on implicit attitudes. In Study 1, participants watched and evaluated 10 television advertisements while physiological measures of cognitive and affective processing were collected. Ads varied such that half used same-sex couples as protagonists while the other half used other-sex couples. Participants demonstrated less positive responses to ads featuring same-sex couples. Physiological and self-reported responses were associated with implicit attitudes toward homosexuality Negative implicit attitudes toward homosexuality were associated with more negative affect, less attention, less positivity, and less liking for ads featuring same-sex couples. Two subsequent studies replicated these findings in nonstudent samples, indicating that participants preferred ads with other-sex couples (Study 2) and that implicit attitudes were associated with this response (Study 3). This research suggests that implicit attitudes affect processing and evaluation of ads featuring same-sex couples in ways unaccounted for by explicitly measured attitudes. Results are discussed in terms of advancing theory, furthering understanding of the dynamic processing of ads featuring in-group and out-group members, and practical implications.     

How does stakeholder engagement through environmental,social, and governance affect eco-efficiency and profitability efficiency? Zooming into Apple Inc.'s counterparts

As global ecological degradation intensifies, a trade-off has arisen between environmental protection and production efficiency to achieve sustainable development for the environment, society, and the company itself. However, the potential reverse causality relationship between environmental, social, and governance (ESG) and corporate efficiency may lead to confusion. This study estimates the eco-efficiency of Apple Incorporated's value-chain counterparts in the first stage and creates values and profitability in the second stage of efficiency evaluation. Results obtained from the (i) directional distance function in the two-stage data envelopment analysis (DEA), (ii) additive efficiency decomposition two-stage network DEA model, and (iii) network slacks-based measure model are consistent. That is, Apple counterparts manage more efficient eco-efficiency than profitability efficiency, implying that eco-efficiency is their competitive advantage. We thus also run a regression analysis to examine how the ESG ratings of Apple counterparts explain their eco-efficiency and profitability efficiency. Although the overall ESG rating positively explains the efficiencies, we found that the individual governance rating shows no statistically significant effect. The regression results provide insight for practitioners on the importance of investing in the three aspects of a firm's collective conscientiousness for societal and environmental governance. This paper integrates companies' eco-efficiency and profitability efficiency to resolve the conflict between environmental issues and production efficiency. It also analyzes in depth the effects of ESG and its three individual factors on eco-, profitability, and average efficiencies. The diversity of research methods also provides new ideas for future research related to firm efficiency.