Does financial development stimulate environmental sustainability? Evidence from a panel study of 115 countries

This paper investigates the moderation effect of financial development (FD) on the environmental Kuznets curve (EKC). Using comprehensive panel data of 115 countries spanning the 1990–2016 period and dividing the countries into different income groups, the researcher found systematic differences in the relationship between significant indicators of environmental degradation and economic growth. More specifically, the interaction effect of FD on the relationship between gross domestic product (GDP) growth and CO₂ emissions are positive; nevertheless, the interaction effect of FD on the relationship between GDP squared and CO₂ emissions become negative for all income groups and therefore supports the EKC. Moreover, the interaction effect of FD is negative on the relationship of GDP with both CH₄ and PM_2.5 emissions in the middle‐income groups, whereas the interaction effect of FD on the relationship between GDP squared and PM_2.5 emissions are negative for the high‐income group. Our results suggest that FD can reduce environmental degradation without adversely impacting on growth.     

The moderating effect of personal and situational characteristics in behavioural factors affecting ports of call

This research aims to study the moderating effects of cruise passengers’ gender, age, education, and prior experiences on a Mediterranean port of call destination image formation and the influence that image and passenger satisfaction has on future behavioural intentions. The partial least squares technique is applied to test the hypotheses developed with a sample of 492 cruise passengers. Our findings show that (1) gender, age, education, and experience have a moderating influence on the image of ports of call, on cruise passengers’ satisfaction, and on future behavioural intentions derived from cruise passengers’ satisfaction; (2) prior experience has a moderating influence on the image formation of ports of call.     

Customers’ savings rate and share of wallet: the moderating role of religion and ethnicity/immigrant generation vis-à-vis attitude as mediator

This study explores the role of attitude toward money, religion and ethnicity in the relationship between income and consumer behavior. The three-country (Australia, Canada and China) study sampled 755 consumers and uses structural equation modeling and multivariate analysis to test for mediating effects of attitude toward money and moderating effects of religion and ethnicity/immigrant generation. Religion is found to be a moderating variable for savings rate and share of wallet, while ethnicity/immigrant generation only moderates the association between income and savings rate. We also demonstrate the interaction effects of religion and ethnicity/immigrant generation with income as determinants of savings rate and share of wallet. This research provides the foundation for modeling savings rate and share of wallet, incorporating attitude, religion, and ethnicity/immigrant generation, as well as income, demonstrating the need to include other factors (i.e. demographic factors in addition to attitudinal/satisfaction measures) to better identify, understand and strategically target consumer segments with potential for profitability and growth.     

Superior–subordinate communication during organizational change: under which conditions does high-quality communication become important?

Restructuring and organizational change have become ever-present across all industrial countries. Based on conservation of resources theory, this study explored a buffering effect of superior–subordinate communication (SSC) in the relationship between management support for the change and both job satisfaction and work-related irritation. It was also assumed that dispositional resistance to change (RTC) would further impact this buffering effect. We tested these assumptions in a sample of 119 employees from eight organizations in which change had occurred. A buffering effect of SSC was supported for job satisfaction but not for irritation. In case of irritation, an interaction effect of RTC, SSC and management support was found. For irritation, the quality of SSC and the degree of management support are relevant only under the condition of high RTC. In our study, RTC was found offer a valuable approach for a successful implementation of organizational change. Practical approaches should refer to communication processes between superior and subordinates, especially when employees are high in RTC.     

我国的外汇储备规模探析

20世纪90年代以来我国外汇储备呈现出持续增长的态势,目前的外汇储备规模已远远超过了我国外汇储备的适度规模。文章在分析我国高额外汇储备的利弊基础上,提出了降低我国外汇储备规模的政策建议。     

Financial Globalization,International Business Cycles and Consumption Risk Sharing*

In spite of two decades of financial globalization, consumption‐based indicators do not seem to signal more international risk sharing. We argue that the fraction of idiosyncratic consumption risk that gets shared among industrialized countries has actually increased considerably over the period 1980–2000 and, in particular, during the 1990s—from around 30 to more than 60 percent. However, standard consumption‐based measures of risk sharing—such as the volatility of consumption conditional on output or international consumption correlations—have been unable to detect this increase because consumption has also been affected by the concurrent decline in the volatility of output growth in most industrialized countries since the 1980s. First, the volatility of output at business‐cycle frequencies has declined by more than has the volatility of permanent fluctuations. Since consumption reacts mainly to permanent shocks, it appears more volatile in relation to current changes in output. This effect seems to have offset the tendency of financial globalization to lower the volatility of consumption conditional on output. Second, because the variability of permanent global shocks has also fallen, international consumption correlations have also generally not increased as financial markets have become more integrated.     

关系利益对关系质量影响的实证研究——基于银行服务业背景下客户性别的调节效应

在服务业顾客关系管理中,关系利益对关系质量的影响极为重要。在系统回顾以往文献的基础上,针对关系收益对于关系质量的影响进行了研究,剖析了客户性别扮演的调节作用,并构建了调节作用模型。同时,以转型经济下中国银行服务业为研究背景,从顾客视角收集数据,对相关假设进行了实证检验。实证结果显示,客户性别在承诺模型中的调节作用全部显著,而在信任模型中仅有部分调节作用显著。     

Combining Formal Controls to Improve Firm Performance

Formal controls are an essential part of organizational design, and are theorized to positively influence organizational performance. Mello and Hunt ([2009] Transportation Journal, 48:20–39) were the first to suggest using formal controls to influence truck drivers' behavior. Extending the salesperson control literature, they documented an underresearched method of formal control that we term technology control, whereby firms use on‐board and communications technology to influence drivers. We build on their work by investigating the contingent effects of formal controls that influence the behavior of truck drivers and thereby influence the operational performance of firms in the U.S. motor carrier industry. Our work integrates the monitoring aspect of agency theory with the theory of operant conditioning and the theory of psychological reactance to develop a rationale for hypothesized contingent effects of formal controls on motor carriers' operational performance. We collected primary data pertaining to the controls used to influence truck drivers' behavior from a large sample of U.S. motor carrier firms. The results of our analyses using nonlinear structural equation modeling suggest a complex set of relationships between formal controls and operational performance. Our results shed light on scenarios where using technology to monitor driver behavior can result in positive and/or negative organizational outcomes.     

外汇储备适度规模分析:理论方法与中国实证

截止到2006年9月末我国外汇储备余额已达9879亿美元,然而外汇储备和其他很多经济变量一样存在一个适度规模的问题。首先介绍了衡量外汇储备适度规模的几种主要的方法;然后对我国外汇储备的适度规模进行了实证分析;最后针对我国超额外汇储备的管理问题提出了一系列的建议。     

我国期货市场投机适度性研究

通过选择期货市场适度性衡量指标对投机是否适度进行基差和换手率的实证分析,基本判断我国期货市场存在操纵市场、多空逼仓等风险事件,投机性风险高于国外成熟市场,存在投机过度。造成投机过度的原因是多方面的．如期货法律不健全,监管存在漏洞,现货市场发展不完善,套期保值者不足等等。解决我国期货市场投机过度要从完善期货市场制度、加强现货市场建设、培育大宗期货品种、完善期货品种结构、大力培育套期保值者等方面入手。