The impact of perfectionism on situational judgment among Chinese civil flying cadets: The roles of safety motivation and self-efficacy

The objective of this study is to test a mediation model in which safety motivation and self-efficacy mediate the relationship between perfectionism and situational judgment in Chinese civil flying cadets. We collected self-reported data from 218 civil flying cadets from Civil Aviation Flight University of China. The results show that concern over mistakes and personal standards have direct effects on flying cadets' situational judgment. Concern over mistakes, parental expectation and organization have indirect effects on flying cadets’ situational judgment through safety motivation; whereas concern over mistakes and parental criticism have indirect effects through self-efficacy. Managerial implications of the study as well as the future research directions are discussed.     

Employment adjustment in the global crisis

This paper analyzes the employment adjustment of domestic, foreign and state‐owned companies before and during the global crisis. Using Hungarian firm‐level data for the period between 2006 and 2012 and matching foreign and state‐owned firms to domestic enterprises by industry and employment, it finds that the net job creation rate is similar in domestic and state‐owned firms while it is larger by 3.5 percent in foreign‐owned enterprises before the crisis. Domestic and foreign‐owned firms react to the crisis in very similar fashion by dropping net job creation by about 4 percentage points. Contrary to this behaviour, state‐owned enterprises do not decrease net job creation in some, and increase it by 3.5‐6 percent in other regressions.     

Safety classification using GIS in decision-making process to define priority road interventions

Given the current economic situation of the Portuguese municipalities, it is necessary to identify the priority investments in order to achieve a more efficient financial management. The classification of the road network of the municipality according to the occurrence of traffic accidents is fundamental to set priorities for road interventions. This paper presents a model for road network classification based on traffic accidents integrated in a geographic information system. Its practical application was developed through a case study in the municipality of Barcelos. An equation was defined to obtain a road safety index through the combination of the following indicators: severity, property damage only and accident costs. In addition to the road network classification, the application of the model allows to analyze the spatial coverage of accidents in order to determine the centrality and dispersion of the locations with the highest incidence of road accidents. This analysis can be further refined according to the nature of the accidents namely in collision, runoff and pedestrian crashes.     

Financial Sector transparency and net interest margins: Should the private or public Sector lead financial Sector transparency?

This study examines the effect of private and public sector led financial sector transparency on bank interest margins across eighty-six economies. Using a two-step dynamic system generalized method of moments, least square dummy variables, fixed effects and bootstrap quantile panel models between 2005 and 2016, the findings of the two-step GMM are reported as follows. First, results reveal that financial sector transparency whether led by private or public sector reduces interest margins. Second, while no statistical evidence was found on which of the two (private or public sector led transparency) is more effective in dealing with bank interest margins, public sector-led financial transparency is found to be more consistent in reducing bank interest margins across many more economies. Third, the study shows that the effect of financial sector transparency is visible at lower and middle levels of bank interest margins implying that economies with lower and moderately high bank interest margin level can benefit more from policies targeted at improving transparency in the financial sector. These findings imply that the sampled countries must enact policies and laws that deepen and expand financial sector transparency in order to potentially reduce bank interest margins for the good of banking market participants and society at large.     

强化高校食品卫生安全教育的重要性

高校食品卫生安全教育工作一直是学校发展的重点,只有保证食品卫生安全管理工作的顺利开展,才能够确保学生及教师的身心健康得到保护,维护学校教育教学的安定秩序、稳定社会发展。所以,强化高校食品卫生安全教育工作是势在必行、不可阻挡的发展趋势。     

Regulation of road accident externalities when insurance companies have market power

Accident externalities that individual drivers impose on one another via their presence on the road are among the most important external costs of road transport. We study the regulation of these externalities when insurance companies have market power. Some of the results we derive have close resemblance to the earlier literature on externality regulation with market power in aviation and private roads, but there are important differences, too. Using analytical models, we compare the first-best public welfare-maximizing outcome with a private profit-maximizing monopoly, and oligopoly. We find that insurance companies will internalize some of the externalities, depending on their degree of market power. We derive optimal insurance premiums, and regular parametric taxes as well as “manipulable” ones that make the companies set socially optimal premiums. The latter take into account that the firm tries to exploit knowledge of the tax rule applied by the government. Finally, we also study the taxation of road users rather than that of firms.     

Liquidity provisions by individual investor trading prior to dividend announcements: Evidence from Taiwan

This paper investigates the role of liquidity provisions played by individual investors prior to dividend announcements in Taiwan. We first document a positive relationship between aggregate individual trading before dividend announcements and abnormal stock returns in the one month after the events. We find that this positive relationship varies with liquidity. We then decompose the abnormal returns following the event into information and liquidity provision components. The information component is not significant at all, but the liquidity component is positively significant, which shows that it is individual investors’ provisions of liquidity to institutional investors prior to dividend announcements that drives the positive relationship between pre-event individual trading and post-event returns.     

Are short rotation coppices an economically interesting form of land use? A real options analysis

Short rotation coppice (SRC) is intensively discussed as being an economical and ecological advantageous alternative to traditional agricultural land use. In various countries, farmers have been encouraged through incentives to cultivate SRC. Nevertheless, they often do not switch from conventional land use to SRC, even if SRC is relatively beneficial according to the net present value (NPV) rule. Therefore, farmers do not follow the classical investment theory. A relatively new theory is the real options approach (ROA). The ROA takes further aspects like irreversibility of the investment costs, flexibility regarding investment timing, and uncertainty of the investment returns into account, which the NPV rule ignores. In the case of SRC, investment (conversion) triggers when a farmer should switch to SRC following the ROA can be higher than those following the NPV rule. As it is often the case in real options applications, decision makers’ possibility to disinvest in general and farmers’ possibility to reconvert, in particular within the useful lifetime of SRC, is not considered. We build a model to calculate the conversion triggers for switching from annual crop production to SRC following the ROA. We consider the opportunity to reconvert the land and evaluate the respective effects on the conversion triggers according to the ROA. Furthermore, we analyze the effect of a former governmental incentive, in terms of an investment subsidy, on the conversion triggers of both theories. Our calculations show that following the ROA, a farmer should change land use to SRC more slowly than when following the NPV rule. Furthermore, neglecting the reconversion possibility would cause considerable bias amongst the results. The consideration of investment subsidies diminishes the conversion triggers of both theories. We conclude that the ROA can at least partially explain farmers’ inertia of converting to SRC.     

网络经济下“网商”协作模式研究——以阿里巴巴和淘宝为例

"网商"协作的出现是网络经济发展的必然结果,"网商"协作的形式多种多样。在对"网商"生态发展历程进行分析的基础上对"网商"协作模式进行研究,分析了"网商"协作的生态性、独特性和演化性等系统特征,并发现随着"网商"种类的不断增加、协作的不断深化,目前"网商"生态正走向复杂。同时,通过与非"网商"协作的比较研究发现:"网商"协作可以实现更多内容的协作并产生更大的协作效益。更进一步,把"网商"协作分成了基础型、拓展型、优势型和创新型四种类型,并以2007-2010年淘宝"网商"发展状况为例进行实证研究,总结了这四种协作模式的动态演变情况。