Modern Money Theory and Distributive Justice

Modern money theory is a conjecture concerning fiscal spending and the nature of money. I show that modern money theory provides two interesting insights into distributive justice that have not been addressed in the recent Anglo-American distributive justice literature: (i) that the nature of a sovereign fiat currency allows for some distributive conflicts to be avoided; and (ii) that recent Anglo-American distributive justice theories assume that the economy is at capacity. Based on this, I consider whether the policy results of modern money theory can help foster a sense of justice.     

Who should own it? An agency‐based explanation for multi‐outlet ownership and co‐location in plural form franchising

Plural forms exist when managers use two owners to perform one activity. Franchising is a plural form explained by agency theory, however, the theory is unable to explain two franchisor actions: 1) allowing franchisees to own multiple outlets and 2) co‐locating company‐owned and franchised outlets. We use research that describes a symbiosis between company‐owned and franchised outlets to extend agency theory and explain these actions. Our investigation of ownership patterns among 4,339 outlets of 16 plural form franchisors is consistent with our theory that multi‐outlet franchising is cost efficient and that co‐location occurs when franchisors fill market gaps left by franchisees. Copyright © 2011 John Wiley & Sons, Ltd.     

运输定价的基本理论及其比较分析

详细介绍了运输成本导向定价论、运输需求导向定价论和运输竞争导向定价论各自包含的特色定价方法及定价依据,指明它们分别主要以运输成本、运输需求和市场竞争作为定价的依据,可以说各有利弊。通过对各种定价理论的比较分析,指出在实际应用中,更多应考虑三种定价理论的有机结合。     

新形势下基于情境理论的全视角员工管理

员工管理是企业管理的重要组成部分。在当前快速变化的市场环境里,企业员工管理工作面临着新的挑战和机遇。文章提出了基于情境理论的全视角员工管理理念,并从员工层面、管理人员层面和公司层面对其进行了阐述。     

Litigation risk,accounting quality,and investment efficiency

This paper examines the moderating effect of litigation risk on the relationship between accounting quality and investment efficiency. We use directors’ and officers’ (D&O) liability insurance as a proxy for litigation risk, accruals quality for accounting quality, and investment cash flow sensitivity for investment efficiency (Biddle & Hilary, 2006; Hovakimian & Hovakimian, 2009). Using Canadian data from 1998 to 2008, we show that firms with higher D&O insurance coverage exhibit lower quality accruals. Moreover, the previously documented negative association between accruals quality and investment cash flow sensitivity is stronger (weaker) when abnormal D&O coverage is low (high), suggesting that the role of accounting quality in facilitating investment efficiency is conditional upon observable litigation risk.     

Heterogeneity effects from market interventions

The aim of this paper is to test whether the European Commission activities generate a heterogeneity effect on the merging parties. A sample of 74 firms involved in 45 contested merger and acquisition operations during the years 1990 to 1999 is used. The methodology is based on the GARCH framework. The main result is that, globally, the DGC interventions seem not to reduce significantly the heterogeneity among investors, except for the operations where it takes strong decisions like prohibition. In these last cases, the signal coming from the DGC encompasses valuable information and is well understood by market participants.     

Financial resource availability and corporate social responsibility expenditures in a sub‐Saharan economy: The institutional difference hypothesis

Studies done in developed economies have demonstrated a positive relationship between financial resource availability and CSR. Arguments that we term the Institutional Difference Hypothesis (IDH) drawn from the institutional literature, however, suggest that institutional differences between developed and developing economies are likely to result in different CSR implications. Integrating the logic of IDH with insights from slack resources theory, we argue that there exists a negative relationship between financial resource availability and CSR expenditures for firms in Ghana, a sub‐Saharan African emerging economy. We use lagged data from the Ghana Investment Promotion Centre and find that Return on Sales, Return on Equity, and Net Profitability were consistently associated with lower CSR expenditures. We highlight the implications of our findings for research and managers. Copyright © 2013 John Wiley & Sons, Ltd.     

A Structural Model of Leisure Constraints Negotiation in Outdoor Recreation

A conceptual model tested the leisure constraints negotiation process of outdoor recreation: motivation and the constraints to participate likely influenced by negotiation efforts. Higher motivation to participate encourages using negotiation strategies and resources to overcome constraints. Experiencing constraints was thought to trigger negotiation efforts. Drawing from social cognitive theory, negotiation-efficacy was proposed to encourage motivation, diminish the perception of constraints and promote negotiation efforts, which indirectly influenced positive participation. The model tested used data collected from a random sample of Arizona residents through hierarchical confirmatory factor analysis and structural equation modeling. Results support the conceptual model and suggest the constraints negotiation process is a dynamic interaction of influences promoting outdoor recreation participation.     

City Image and Perceived Tourism Impact: Evidence from Port Louis,Mauritius

Research suggests that the images residents hold about their community influence the political support for tourism. Yet, few researchers have investigated the image that local residents have of their own area. Borrowing from the existing literature on place image and residents' perceptions of tourism impacts, a theoretical model incorporating these two lines of research is developed and tested using data collected from residents of the city of Port Louis, Mauritius. It proposes four city image attributes as the independent constructs influencing residents' perceptions toward the overall impact of tourism development. These include social attributes, transport attributes, government services attributes, and shopping attributes. Overall impact of tourism development is considered to be a determinant of the level of support for the industry. Results of the structural equation modeling analysis indicate that residents' perceived levels of shopping attributes, transport attributes, and social attributes of the city influence their level of support for the tourism industry. The hypothesis relating transport attributes to overall impacts of tourism was not supported. The study provides some important considerations for local planners attempting to make tourism more supportive in the city.     

基于接受理论的思想政治理论课教学新思路

基于接受理论视野,提高大学生思想政治教育课效果,既要激发他们参与思想政治理论课的积极性,还要端正他们对思想政治理论课的接受态度;既要优化他们接受思想政治理论课的方式,还要提高他们对思想政治理论课的接受水平。