Turning Agents into Psychological Principals: Aligning Interests of Non‐Owners through Psychological Ownership

Principals who delegate tasks to agents face the perennial challenge of overcoming agency problems. We investigate whether feelings of ownership among senior managers in the absence of formal ownership can align agents' interests with those of principals, thus turning agents into psychological principals. Using a moderated mediation model, we find that psychological ownership is positively related to company performance through the mediating effect of individual‐level entrepreneurial behaviour. We also find that the effect of psychological ownership on individual‐level entrepreneurial behaviour and, ultimately, company performance is weaker for high levels of monitoring compared to low levels. These findings offer important contributions to agency, psychological ownership, and entrepreneurship literatures.     

Estimating Recreation Preferences Using Hedonic Travel Cost and Random Utility Models

Over the last decade, several authors have questioned thevalidity of the hedonic travel cost model, arguing instead that the random utility model is a superior method forvaluing recreational site attributes. This paper demonstrates that the two methods emanate from a similar utilitytheoretic framework; yet in practice these methods differ in the assumptions made in their application.Constraining the underlying utility functions to be consistent, both models are applied to the valuation ofrecreational site attributes in the Southeastern United States. The way in which each method estimates preferencesfor site attributes is shown to depend critically on the method and the functional form of theunderlying utility function.     

我国中小企业融资约束、代理成本与生产效率关系研究——基于我国180家上市公司的统计数据

中小企业是我国国民经济发展的重要组成部分,对于我国国民经济持续稳定的发展有着重要的促进作用。但是我国中小企业由于存在规模都比较小、体制不完善等问题,因此在融资时有许多困难;并且现代企业制度所有权和经营权分离,又会出现代理成本问题;同时目前国内生产资料价格普遍上升,就如何提高生产效率降低生产成本成为这些中小企业共同面临的问题。文章就上述中小企业问题进行实证研究,检验了融资约束、代理成本与生产效率之间存在的关系。     

4C理论与我国会计师事务所的营销策略

本文简要论述了我国会计师事务所在考虑产品策略、价格策略、分销策略、促销策略时用4C理论观念来思考,从顾客、成本、便利和沟通四个方面说明了我国会计师事务所在执行营销方案时应该考虑的一些策略和自身实际情况。     

广西旅游企业市场营销存在的问题与对策

改革开放以后,我国经济得到了较快发展,人民的生活水平不断提高,旅游活动已经逐渐成为我国人民休闲、度假的良好方式,因此,广西的旅游事业得以蓬勃发展,而旅游市场营销是发展旅游事业的重要问题。文章在研究、分析广西旅游市场营销现状和存在的问题基础上,提出解决问题的对策,探究了旅游市场营销的合理发展趋势。     

Federalism and Conflicts over Principalship. Some Insights into the American Constitutional History

The article provides an economic interpretation of Kelsen's theory of decentralized governments. It helps to distinguish different forms of federalism and in particular the corresponding conflicts of principalship inside the governmental structure. The model is applied to the early American constitutional history and shows how opposed views of agency relationships in the constitution foreshadowed what would later end up in a civil war.     

社会审计委托代理分析

本文分析了社会审计契约中委托代理关系及审计信息不对称表现及形成原因,通过建立社会审计的委托代理模型,揭示了在审计人和委托人均完全理性的假设下,委托人可以通过激励机制鼓励审计人尽最大努力完成工作。在此基础上分析了我国社会审计收费制度的不合理性、转轨经济环境下社会审计合约具有的不完全契约特性,并提出了改革的设想。     

关注NTYAA的实施,警惕新的贸易技术壁垒

本文对NTTAA的产生、主要内容及其实施进行了深度分析，并提醒人们NTTAA的实施可能产生新的贸易技术壁垒。     

关于外贸代理制若干问题的探讨

由于我国外贸代理制本身所具有的特点,再加上有关法律、法规不完善、不明确等方面的原因,外贸代理实务中产生了诸多法律问题,文中就这方面的问题作出了一些探讨。     

Psychological ownership and stewardship behavior: The moderating role of agency culture

This study investigates whether employees’ psychological ownership results in stewardship behavior and whether this relationship is affected by an employee’s perception of the organization’s agency culture. A survey of the financial managers of 129 firms in Germany generally confirms these expectations. In addition, and surprisingly, our findings suggest a negligible effect of an agency culture on the relationship between psychological ownership and stewardship behavior when managers perceive high psychological ownership. Thereby, our study enriches the literature on the consequences of psychological ownership by providing insights into the boundary conditions of such outcomes at the manager level.