新城市·逢源烟花派对迎国庆

为迎祖国60华诞和中秋佳节，白鹅潭在国庆节晚上举办广州有史以来规模最大的一次焰火晚会，而新城市逢源在现场摘星台上举行业主派对，邀请业主与家人一起欣赏火树银花美景。     

Wealth Affirming Policies for Women of Color

There are a range of solutions that address asset building challenges for low-wealth women. Here we highlight some solutions that focus on basic needs (child care, child support) and creating economic stability with disposable income (income available after basic needs are met); solutions that address predatory lending and the housing crisis; and solutions that focus on joint ownership of assets and community-based asset building.     

图像的力量:秦始皇的模型宇宙及其影响

在过去的几十年中,精美的唐代釉陶塑像,如骆驼和仆从等,一直是收藏者和博物馆的珍宝。人们一直称赞它们是出色的雕塑品,但却甚少留意它们在墓葬背景下的功能。文章对秦始皇陵(d.210 B.C.)的检视揭示出其墓中的塑像其实是一个更大型、更复杂的结构与形象之中的一个组成部分。著名的兵马俑是秦始皇巧夺天工的陵墓的一个组成部分,其他部分还包括“真实的”人和动物、缩小的青铜战车、宫殿模型和天体图案。如果我们想了解这众多部分所组成的整体的目的,就必须考虑古代中国人是如何看待各类图像的。我们会发现,其实在古代中国人眼中,图像与它所表现的主体地位是平等的。籍由在青铜、陶瓷或图画中创造形象,古代中国人为死去的皇帝重现出一个宇宙。文章描述了用来理解图像的哲学概念并运用考古发现和文本材料对此进行论述。近期考古发现使人们可以重新估量中国墓葬中的模型明器,普遍认为这些图像的力量相当大。中国人从不收集陵墓中的塑像的原因是,在他们看来,这些塑像是死者真实的仆从和士兵。     

Should Investors Avoid All Actively Managed Mutual Funds? A Study in Bayesian Performance Evaluation

This paper analyzes mutual-fund performance from an investor's perspective. We study the portfolio-choice problem for a mean-variance investor choosing among a risk-free asset, index funds, and actively managed mutual funds. To solve this problem, we employ a Bayesian method of performance evaluation; a key innovation in our approach is the development of a flexible set of prior beliefs about managerial skill. We then apply our methodology to a sample of 1,437 mutual funds. We find that some extremely skeptical prior beliefs nevertheless lead to economically significant allocations to active managers.     

The term structures of equity and interest rates

This paper proposes a dynamic risk-based model capable of jointly explaining the term structure of interest rates, returns on the aggregate market, and the risk and return characteristics of value and growth stocks. Both the term structure of interest rates and returns on value and growth stocks convey information about how the representative investor values cash flows of different maturities. We model how the representative investor perceives risks of these cash flows by specifying a parsimonious stochastic discount factor for the economy. Shocks to dividend growth, the real interest rate, and expected inflation are priced, but shocks to the price of risk are not. Given reasonable assumptions for dividends and inflation, we show that the model can simultaneously account for the behavior of aggregate stock returns, an upward-sloping yield curve, the failure of the expectations hypothesis, and the poor performance of the capital asset pricing model.     

The adequacy of measures of gender roles attitudes: a review of current measures in omnibus surveys

The measures of attitudes toward gender roles included in many representative international and national omnibus surveys were developed mostly in the 1970s and 1980s with a focus on the male breadwinner model. This article deals with the issue of whether the measures provided in these omnibus surveys need to be adjusted to specific social changes. A review of these measures has found that adjustments have occurred in a limited way that focused on the role of women and disregarded the role of men. Furthermore, most of these measures only examined the traditional roles of men and women. More egalitarian role models have not been considered sufficiently. In addition, most items that have been measured are phrased in a general form and, for example, do not specify parents’ employment or the ages of children. A specification of these aspects of measurement would help to clarify the conceptual meaning of the results and increase the possibility of more accurately analyzing gender role attitudes over time.

     

Analysts’ annual earnings forecasts and changes to the I/B/E/S database

Review of Accounting Studies - I/B/E/S is a common source of analyst earnings forecast data, and the reliability of these data is important for practice and academic research. Examining a common...     

A typology of organisational stakeholder engagement with place brand identity

ABSTRACT

This study explores how stakeholders engage with a place brand identity (PBI) in the context of country branding. This research extends beyond the importance and challenges of stakeholder brand engagement with place brand identity by exploring several typology of stakeholder engagement with PBI. A case study approach using semi-structured interviews with 39 senior-level representatives from national Australian organisations was adopted to explore how internal stakeholders in Australia are engaged with the current PBI initiative in Australia: Australia Unlimited (AU). A typology of stakeholder engagement with a PBI, including philosophical and concrete engagement was identified. Stakeholders’ philosophical engagement is reflected by their moral support, future engagement intention, as well as positive word-of-mouth (WOM) behaviour. Concrete engagement, on the other hand, is reflected by place brand partnership and internalisation of PBI in the organisations’ strategy. The research findings offer practical ways for place brand managing organisations (PBMO) to enhance stakeholder engagement with a PBI. The identification of multicomponent nature of PBI from the research findings allows PBMO to identify which PBI component lacks stakeholder support in order to make necessary improvements. Further, identification of the typology of stakeholder engagement with PBI provides alternative strategies of how stakeholder engagement can be managed.