Gender preference and transfers from parents to children: an inter-regional comparison

This paper examines whether parents exhibit gender preference in the allocation of family resources to their adult children. Gender preference is defined in the context of an altruistic model for inter-vivos transfer from parents to children extended to include educational investment. Data from the Health and Retirement Study (United States) and the Korean Longitudinal Study of Ageing are used to show that the degree of gender preference differs across these culturally distinct regions. Among Korean families, empirical results point to male preference as sons receive larger inter-vivos transfers and attain higher levels of education compared with daughters. In contrast, the evidence pertaining to gender preference among American families points to daughter preference as inter-vivos transfers and educational investment is generally higher among female adult children.     

Is a Picture Always Worth a Thousand Words? The Impact of Presentation Formats in Consumers' Early Evaluations of Really New Products (RNPs)

Really new products (RNPs) enable consumers to do things they have never been able to do before. However, research has shown that consumers have difficulties understanding the benefits of such novel products, and therefore, adoption intentions remain low. Mental simulations and analogies have been identified as effective framing strategies to convey the benefits of RNPs. However, existing research has focused solely on the use of mental simulations and analogies conveyed using words, whereas these can also be conveyed using pictures. Although the general consumer research literature points to a superiority effect of pictures, because the underlying mechanisms that individuals use to understand RNPs differ entirely from those used for traditional products, there is a need to study the impact of pictures for RNPs. Moreover, prior work has not examined differences in RNP type. The present research argues that RNPs can be utilitarian, hedonic, or hybrid and that the optimal presentation format (words versus pictures) is contingent upon the type of RNP considered. Consequently, failure to acknowledge this distinction could lead to negative consequences. The present study aims to identify the impact of alternative presentation formats (i.e., words versus pictures) presented using different framing strategies (i.e., analogies versus mental simulations) on individual responses (i.e., product comprehension and attitude to the product) to three types of RNPs (i.e., utilitarian versus hedonic versus hybrid). Hypotheses are tested by means of an experimental study. The results of the study show that the effectiveness of alternative combinations of framing strategies and presentation formats in enhancing comprehension and attitude for RNPs depends on product type (utilitarian versus hedonic versus hybrid). The empirical findings presented not only extend prior work on consumer responses to mental simulations and analogies for RNPs, but also establish connections between this literature and an underdeveloped stream of research on hybrid products, as well as a broader stream of research on utilitarian versus hedonic product benefits. The findings suggest that practitioners may not have been using optimal marketing communications strategies to convey the benefits of RNPs. Strategies that may help enhance consumer responses to RNPs by taking into consideration product type (utilitarian versus hedonic versus hybrid) are put forward.     

Path‐dependent currency options with mean reversion

This paper develops a path‐dependent currency option pricing framework in which the exchange rate follows a mean‐reverting lognormal process. Analytical solutions are derived for barrier options with a constant barrier, lookback options, and turbo warrants. As the analytical solutions are obtained using a Laplace transform, this study numerically shows that the solution implemented with a numerical Laplace inversion is efficient and accurate. The pricing behavior of path‐dependent options with mean reversion is contrasted with the Black‐Scholes model. © 2008 Wiley Periodicals, Inc. Jrl Fut Mark 28:275–293, 2008     

投资圈的“红色行动”

在被戏称为“兄弟会”的华尔街，女性投资决策人的数量屈指可数，但情况正在不懈的努力下一点一点发生变化。     

节约成本十法则

在当今竞争白热化的商业世界，削减成本已是势在必行了。大部分削减成本的技巧都简单易行，能够迅速起效，让企业实现短期的成本节约。     

‘Does it Really Affect Me?’ Tourism Destination Narratives,Destination Image,and the Intention to Visit: Examining the Moderating Effect of Narrative Transportation

The extent to which tourism destination marketing narratives with different themes influence readers by imaginatively ‘transporting’ them is quite varied. This study investigates the different degrees of influence such narratives have on destination image and the intention to visit, exploring how the intensity of readers' experiences of being transported by narratives with different themes can influence their intention to visit the places described. Our results reveal the extent to which different narrative themes affect destination image and significantly influence readers' intention to visit. The extent to which narratives with different themes make readers feel transported also has a significant moderating effect on their intention to visit. Copyright © 2015 John Wiley & Sons, Ltd.     

中国人民银行绩效审计的现状与思考

绩效审计已经成为现代政府审计发展的一种主流趋势。人民银行内审部门近年来积极探索转型,发挥咨询与增加组织价值的作用,探索开展绩效审计无疑是一个很好的突破口。本文分析了当前人民银行绩效审计现状与不足,并提出了人民银行内审部门如何推进绩效审计的思路。     

Tourism and Chinese popular nationalism

As a complex and emerging phenomenon, nationalism presents a serious challenge to international marketers, with no exception to the field of tourism. However, there is a lack of empirical evidence in understanding the role of nationalism in tourist travel intention. A qualitative research approach with in-depth interview and on-site observation was adopted to bridge this gap during the Diaoyu/Senkaku Island Incident between China and Japan since late 2012. In particular, this study seeks to shed light on the influence of nationalism on Chinese tourists. A nationalism dynamics model has been established to explore and explain different segments of tourists based on their self-perceived level of nationalism. The findings of this paper offer important implications for both scholars and practitioners in their strategic responses to this challenging nationalism phenomenon.     

Factor substitution and factor intensities in models with more factors than goods

This paper considers the commodity prices–factor prices relation in models with more factors than consumption goods. Under some simple factor substitutability assumptions, many results in the   n  ×  n   cases have counterparts in the   l  ×  n   cases. The proportional price changes of the "middle factors" will be trapped between those of the "extreme factors". A weak and a strong Stolper–Samuelson theorem can also be proven. If the numbers of goods and perfectly complementary factors are equal and the production functions have the nested constant elasticity of substitution form, two of the complementary factors would have the most extreme relative price changes, regardless of the factor intensities.     

Audit Fees: A Meta‐analysis of the Effect of Supply and Demand Attributes*

We evaluate and summarize the large body of audit fee research and use meta‐analysis to test the combined effect of the most commonly used independent variables. The perspective provided by the meta‐analysis allows us to reconsider the anomalies, mixed results, and gaps in audit fee research. We find that, although many independent variables have consistent results, several show no clear pattern to the results and others only show significant results in certain periods or particular countries. These variables include a loss by the client and leverage, which have become significant in comparatively recent studies; internal auditing and governance, both of which have mixed results; auditor specialization, regarding which there is still some uncertainty; and the audit opinion, which was a significant variable before 1990 but not in more recent studies.