Does the Diversification–Firm Performance Relationship Change Over Time? A Meta‐Analytical Review

We study the relationship between diversification and firm performance in the context of the decline in levels of diversification over time. We argue that the pressure to reduce diversification may have more strongly affected those firms whose diversification strategies were most detrimental to firm performance. We employ meta‐analytical regression (MARA) in order to test our hypotheses, using a total of 267 primary studies containing 387 effect sizes based on 150,000 firm‐level observations from over 60 years of research on the diversification–firm performance relationship. The findings suggest that levels of unrelated diversification have decreased, whereas levels of related diversification have increased since the mid‐1990s, following an initial decrease in the 1970s and 1980s. Furthermore, we find that the relationship between unrelated diversification and firm performance has improved significantly over time, whereas the relationship between related diversification and performance has remained relatively stable.     

Building Trust? Conditional Cash Transfer Programmes and Social Capital*

In this paper, we propose a measure of social capital based on behaviour in a public goods game. We conducted a public goods game within 28 groups in two similar neighbourhoods in Cartagena, Colombia, one of which had been targeted for over two years by a conditional cash transfer programme that has an important social component. The level of cooperation we observe in the ‘treatment’ community is considerably higher than that in the ‘control’ community. The two neighbourhoods, however, although similar in many dimensions, turn out to be significantly different in other observable variables. The result we obtain in terms of cooperation, however, is robust to controls for these observable differences. We also compare our measure of social capital with other more traditional measures that have been used in the literature.     

The income elasticity of meat: a meta‐analysis

The demand for meat has been estimated by many studies utilizing various data and estimation methods. In this study, we perform a meta‐analysis of the income elasticity of meat that involves regressing 3357 estimated income elasticities, collected from 393 studies, on variables that control for study characteristics. Across several meta‐regression specifications, we find significant differences in income elasticities tied to the type of meat being studied, as well as a few functional forms, data aggregations, publication characteristics, and locations of demand. However, many study characteristics do not significantly influence reported income elasticities. Less concern should be given to such characteristics when choosing an income elasticity from the literature.     

也说“園(园)”

“園(园)”是风景园林学科的“元概念”之一。 现有对“園”的解释主要基于“囗”与“袁”组合的象形认 知,却存在谬误,且未能触及其本质。训诂是传统小学中 用来对汉字进行追本溯源的方法,将训诂学用于厘清“園 (园)”最为原始的音、形、义及其后世流变,揭示“園” 源于“圓”“圜”,最初是与“祀天”功能相关的“自然空 间”。从殷商至战国,“袁”逐渐代替“圓”“圜”中的 “員”“睘”讹为“園”,继承并扩大其字义。简化字“园” 亦有与“祀天”相关的“圓”“圜”的渊源,隐含了古人宇宙 观、时空观的传承。“天人合一”“人与天调”始终是“園 (园)”的基本内涵,是当今风景园林之“元”。     

The Effects of Kenya's ‘Smarter’ Input Subsidy Programme on Smallholder Behaviour and Incomes: Do Different Quasi‐experimental Approaches Lead to the Same Conclusions?

Kenya joined the ranks of sub‐Saharan African (SSA) countries implementing targeted input subsidy programmes (ISPs) for inorganic fertiliser and improved seed in 2007 with the establishment of the National Accelerated Agricultural Inputs Access Programme (NAAIAP). Although several features of NAAIAP were ‘smarter’ than other ISPs in the region, some aspects were less ‘smart’. However, the efficacy of the programme, and the relationship between its design and effectiveness, have been little studied. This article uses nationwide survey data to estimate the effects of NAAIAP participation on Kenyan smallholders’ cropping patterns, incomes, and poverty status. Unlike most previous studies of ISPs, a range of panel data‐ and propensity score‐based methods are used to estimate the effects of NAAIAP. The article then compares these estimated effects across estimators and to the effects of other ISPs in SSA, and discusses the likely links between differences in programme designs and impacts. The results are robust to the choice of estimator and suggest that, despite substantial crowding out of commercial fertiliser demand, NAAIAP had sizeable impacts on maize production and poverty severity. NAAIAP's success in targeting resource‐poor farmers and implementation through vouchers redeemable at private agro‐dealer shops likely contributed to its more favorable impacts than those of ISPs in Malawi and Zambia.     

Heterogeneous effects of credit constraints on SMEs’ employment: Evidence from the European sovereign debt crisis

This paper takes advantage of access to detailed matched bank-firm data to investigate whether and how employment decisions of SMEs have been affected by credit constraints during the European sovereign debt crisis. Variability in banks’ financial health following the 2008 crisis is used as an exogenous determinant of firms’ access to credit. Findings, relative to the Belgian economy, clearly highlight that credit matters. They show that SMEs borrowing money from pre-crisis financially less healthy banks were significantly more likely to be affected by a credit constraint and, in turn, to adjust their labour input downwards than pre-crisis clients of more healthy banks. These results are robust across types of loan applications that were denied credit, i.e. applications to finance working capital, debt or new investments. Yet, estimates also show that credit constraints have been essentially detrimental for employment among SMEs experiencing a negative demand shock or facing strong product market competition. In terms of human resources management, credit constraints are not only found to foster employment adjustment at the extensive margin but also to increase the use of temporary layoff allowances for economic reasons. This outcome supports the hypothesis that short-time compensation programmes contribute to save jobs during recessions.     

How Competitive Action Mediates the Resource Slack–Performance Relationship: A Meta‐Analytic Approach

The fungibility of organizational slack provides firms significant latitude in addressing both internal and market pressures. A vast literature suggests that slack influences firm performance; however, the empirical record is mixed, and the underlying mechanism linking slack to performance remains ambiguous. We address these issues by theoretically expanding the slack–performance model to include mediation. Specifically, we develop and test a model in which a firm’s competitive behaviours direct the utilization of slack toward the realization of firm performance. Our meta‐analytic‐based structural equation model supports partial mediation, showing that competitive behaviours provide some resolution to the conflicted understanding of how slack affects performance. Further, we provide value to the slack literature by consolidating the evidence for the effects of various types and forms of organizational slack. Beyond providing robustness to our theoretical model, doing so offers a more complete understanding of how operationalizations of slack and performance outcomes matter.     

Time for carbon neutrality and other emission reduction measures at European airports

Since 2009, one out of five European airports participate in carbon dioxide (CO₂) reduction programmes, although only 8% of them are certified as CO₂ neutral. This study aims to examine empirically internal as well as external factors of importance for airport participation in emission reduction programmes at different levels of involvement. Estimates of the Cox proportional hazard model based on almost 600 airports for the period 2009 to 2017 reveal that the likelihood and timing of participation increase with the size of the airport (number of passengers), independent of level of commitment. Performance (growth in number of passengers) and if the airport is part of a group are crucial for the advanced levels of the programme. Environmental progress at the country level is also a significant predictor, most distinctly represented by renewable electricity generation, whereas airports serving as hubs for low‐cost airlines are less likely to enter the carbon reduction programmes.     

Age diversity management and organisational outcomes: The role of diversity perspectives

Several macro‐level and meso‐level factors have led to unprecedented proportions of aged employees in organisations, resulting in higher levels of age diversity. Little is known about which age diversity practices and programmes are effective in which types of organisations for which outcomes. Derived from social exchange theory, this paper proposes and tests positive relationships between age diversity practices and organisational outcomes and work‐life programmes and organisational outcomes. Derived from contingency theory, it also proposes and tests for a moderating effect of diversity perspective (fairness and discrimination vs. synergy) on the two main relationships. Data were collected from 248 medium to large‐sized for‐profit organisations. The results partially support both main effect hypotheses and one moderating effect hypothesis. The findings suggest different organisational outcomes for age diversity practices and work‐life programmes. Theoretical and practical implications are discussed.     

以职业能力本位构建高职计算机应用基础课程新模式

信息基础的不断发展,软件的日新月异,对计算机应用基础教学提出了更高的要求。针对教学中存在的内容陈旧、层次不分明、与专业知识脱节等弊端,探讨了职业能力内涵视角下的课程模式,提出了"层次模块化"的计算机应用基础课程体系、"分层次"教学方案和任务驱动教学方式,从而构建职业能力本位教育理念指导下高职计算机应用基础课程新模式。