中美货币之争：不如休战，来一次卡拉OK!

中美两国正在就人民币汇率问题争论不休,关于人民币升值的问题,将影响双方在世界上各自扮演的角色,并对双方的关系产生深远的影响。     

Factors Impacting Food Safety Risk Perceptions

We developed and applied a model of consumer risk perceptions of beef food safety to better understand the underlying drivers of consumer demand for food safety. We show how consumer demographics, country‐of‐residence, as well as reliance on, and trust in, alternative food safety information sources affect risk perceptions of consumers in Canada, Japan and the United States. Consumers in all three countries have risk perceptions shaped by their level of reliance on observable and credence attribute information. Risk perceptions of consumers in each country are significantly higher for those less trusting of doctors. Moreover, personal and indirect food safety experiences substantially affect risk perceptions. These results are useful to decision‐makers in developing more efficient supply chain management strategies and public policies aimed at building or sustaining consumer confidence in food safety.     

LACK‐OF‐RECALL AND CENTRALIZED MONETARY TRADE*

We introduce lack‐of‐recall of past transactions as an alternative assumption to anonymity in a model where trade is centralized. In environments where there is an intertemporal lack‐of‐double‐coincidence of wants problem and lack‐of‐commitment, lack‐of‐recall can give rise to monetary equilibria that dominate nonmonetary outcomes in terms of welfare.     

Community design of a light rail transit-oriented development using casewise visual evaluation (CAVE)

This paper proposes the casewise visual evaluation or CAVE, methodology and discusses its application to the participatory design of a transit-oriented development (TOD) in Louisville, Kentucky. CAVE is a fuzzy logic-based non-linear visual preference modeling system designed to provide design element guidance from composite visual scenarios under conditions of sparse data.The context of application in a low-income urban neighborhood is detailed. An architectural expert's design vocabulary allows model input and output to be structured. A small set of image samples was scored for preference using anonymous electronic polling in distributed neighborhood forums. Using fuzzy set theoretic software a community preference knowledge base (PKB) was built and interrogated. Four critical TOD design dimensions were selected: height, typology, density, and open space type. Preferred TOD design combinations were identified using the PKB and discussed. This project shows that CAVE can provide context-specific guidance for urban designers and that its strengths in effectively devolving design input and capturing local preferences are recognized by the community. The paper highlights the necessity for advanced geovisual analytic methods to be embedded into a structured public involvement (SPI) process.     

THE SHAREHOLDER WEALTH EFFECTS OF CALPERS' FOCUS LIST

Shareholder activism can help to protect shareholder value by promoting sound corporate governance practices. As an active institutional investor, CalPERS takes its role in the corporate governance process very seriously. In addition to many other initiatives, CalPERS publishes each year a list of six to twelve public companies with poor corporate governance principles and poor financial performance—its well-known "Focus List"—in the hope that the managements of these companies will be motivated to improve their performance and increase shareholder value for CalPERS and their other equity owners.
In an attempt to assess the effectiveness of CalPERS' governance program, the authors examine the market impact of the Focus List and find that companies on the list experience positive excess stock returns of about 12% over the three months following release of the list. Moreover, this wealth effect is even greater for companies with a large, widely dispersed shareholder base, as might be expected given the relative inability of such shareholders to act collectively.     

Recap of the 29th annual conference on financial economics and accounting,November 16–17, 2018

Review of Quantitative Finance and Accounting -     

Bringing the elephant into the room? Enacting conflict in collective prosocial organizing

Cross-sector partnerships have the capacity to bring together partners from very different backgrounds and circumstances toward collective prosocial efforts. We conducted a longitudinal inductive field study of eight cross-sector partnerships formed as new ventures addressing a variety of fundamental social challenges in the context of deep inequality in post-Apartheid South Africa. This allowed us to develop theory and a process model that explains how some partnerships are able to achieve collective prosocial efforts while others engage in only one-sided efforts or become inactive. The key differences hinge on processes of enacting or failing to enact conflicting material interests among relevant stakeholders. Our results have implications for the inclusion of material interests in theories of cross-sector partnering and for our understanding of entrepreneurship under conditions of inequality. The theory we develop provides a platform for future research on collective prosocial organizing in the contexts that need it most.