A multiple criteria methodology for priority based portfolio selection

This paper presents a new methodology combining multiple criteria sorting or ranking methods with a project portfolio selection procedure. The multicriteria method permits the comparison of projects in terms of their priority based on qualitative and quantitative criteria. Then, a feasible set of projects, i.e. a portfolio, is selected according to the priority defined by the multiple criteria method and satisfying a set of resources and logical constraints. The proposed portfolio selection methodology is called Priority Based Portfolio Selection (PBPS) and can be applied in different contexts. We present an application in the urban planning domain where our approach allows us to select a set of urban projects based on their priority, budgetary constraints, and urban policy requirements. Given the increasing interest of historical cities to reuse their cultural heritage, we applied and tested our methodology in this context. In particular, we show how the methodology can support the prioritization of the interventions on buildings with some historical value in the historic city center of Naples (Italy), taking into account several points of view.     

The paradox and change of Russian cultural values

Existing studies on Russian culture using the dominant dimensional theory of culture (e.g., Hofstede’s), in general, offer “stereotypical” characterization of that country’s societal culture but fail to capture the dynamics of cultural values that exist in Russian business and society. We argue that this weakness stems from the either/or logic associated with such an approach. We echo the call for improving the quality of cross-cultural research by going beyond Hofstede (Tung & Verbeke, 2010) through studying cultural paradoxes and their embedded contexts (e.g., Osland & Bird, 2000) in historical and contemporary Russia. To this end, we have applied Faure & Fang’s (2008) framework which builds on the holistic, dynamic, and paradoxical Yin Yang thinking to unravel the paradox inherent and changes to Russian cultural values over time. We find that underlying paradoxical values that traditionally coexisted in Russian culture during the Communist regime have been further reinforced as a consequence of Russia’s interactions with the rest of the world. In post-Communist Russia, traditional values have not disappeared; rather, they coexist and interact with new values as a result of cultural learning and knowledge transfer in global economy. We discuss the implications of these findings for future research.     

人类合作之谜:群体选择及其演化仿真研究

基因-文化共同进化塑造了人类物种。专业化和分工是人类独特的生存策略和行为模式,一系列先天心理倾向和文化本能等基础性适应器发展出来,通过组织和市场交换支持这种生存策略和行为模式。群体选择是驱动人类合作的主导力量。普莱斯方程揭示了群体间选择与群体内个体选择的净效应如何导致合作的进化。本文基于普莱斯方程的数值模拟和演化仿真发现,尽管非合作策略在"群体内个体选择"中占优,而在考虑"群体间选择"的净效应是合作策略占优。把合作行为收益b作为测度合作剩余的平均项,演化仿真发现,群体中合作者频率越高、平均适应度越大,都会导致所需b值降低,而当迭代次数越多,所需b值增加;合作者成本成倍增加时,所需最小b值是成倍增加;当加入促进合作的"执行机制"(迭代后的合作者频率乘1.001),所需b值降低。利己和利他作为主观行为动机在很多场合不具备第三方不可证实性,而合作和非合作则在人类实际生活和实验室实验中具有第三方可证实性,因此本文纠正传统上利己、利他这一对具有误导性的概念,提出将"合作行为"替换"利他主义行为","非合作行为"替换"利已主义行为",使群体选择理论在解释人类合作秩序的涌现时更具一般性。     

“Take it or leave it?”: Evidence on cultural differences affecting return behaviour for Gen Z

Both culture and age have a direct impact on consumers' shopping behaviour. Similarly, this paper explores consumers’ return behaviour in two different cultural contexts, China and Italy, characterized by low/high individualism vs. high/low collectivism. To this end, the research employs a qualitative approach based on semi-structured interviews collected in May and June 2020 for a sample of Generation Z consumers in China and Italy. Results show differences and similarities affecting consumers' willingness to return in the different stages of effective purchase behaviour. For instance, in the pre-purchase stage, Chinese consumers often show a limited interest in return policies since they usually prefer not to return and repurchase otherwhere the product to maximize their cost-benefit trade-off. In contrast, when retailers adopt return policies, Italian consumers are more interested in feeling protected against the risk of wrong purchases. Instead, both samples are very attentive in return and refund efficiency in the post-purchase stage, which are perceived as two discriminating factors in terms of repurchase from the same retailers.This study offers theoretical and managerial insights towards consumers' return behaviour, offering new directions for future studies.     

Income inequality and educational expenditures on children: Evidence from the China Family Panel Studies

Using the data from the China Family Panel Studies from 2010 to 2018, we find that rising income inequality causes parents to spend more on children’s education, both in school and out of school. The impact of income inequality on out-of-school expenditures is significant at intensive and extensive margins, especially for study-related tutoring participation. Furthermore, we find some empirical evidence suggesting that in response to rising inequality, mothers spend more time on children’s education and there exists a substitution effect between time and money. Further analysis suggests two potential reasons for the rising education spending: (1) a higher income inequality resulting from rising skill premium strengthens parents’ long-lasting cultural attitude towards education to higher levels, inducing them to spend more on educational investment, and (2) a higher income inequality increases the value of higher education, leading to a stronger demand for better educational opportunities, and then, more intense education competition, forcing parents to invest more in education.     

Once upon a time in a foreign market: The role of cultural distance in the economic performance of multilateral non-equity partnerships

As a consequence of globalization and advancements in technology, international collaborations, which bring together partners from different cultural backgrounds, have become increasingly prominent in the business world. While several studies have examined the impact of cultural distance on the performance of such partnerships, they have tended to focus on bilateral relationships, and the results they have produced are conflicting. By building on the resource-based view and distinguishing the differences between the concepts of cultural distance among partners and the cultural distance of partnerships from target markets, the present study provides insights into the role of cultural distance in the performance of multilateral project-based non-equity collaborations. Drawing on a sample of 1183 movies that were released in the U.S. between the years 2000 and 2020, this study demonstrates that while projects co-produced by culturally distant partners have yielded higher revenues, the cultural distance of partnerships from target markets can have a negative impact on economic performance. Furthermore, the results show that partnerships formed with firms that originated in countries that have greater diversity perform better in the target market, and such partnerships manage cultural distance more efficiently.     

Performance of cultural heritage institutions: A regional perspective

Most studies on performance evaluation in the cultural sector are based on the efficiency assessment of a network of institutions. Nevertheless, very few works take territorial divisions as the case study. Under this approach, we design a spatial production function which merges several cultural resources in order to optimize the impact of a regional system of cultural institutions in terms of cultural production and use of services provided. The aim of this paper is therefore to evaluate the efficiency of cultural heritage institutions in Spain from a regional perspective. We take regional networks of museums and libraries as emblematic case studies over a long period, from 2002 to 2020. We first apply a dynamic-network DEA model to measure efficiency, which allows the production function to be divided into stages and time intervals, considering inter-reliant inputs between production phases and time lapses. We also apply truncated regression models to study the effect of external variables on regional cultural efficiency, especially those related to socioeconomic conditions in regions, the scope of the cultural and tourist sector, and institutional indicators. Results show that regional cultural efficiency depends on the level of training and on the demographic structure rather than on economic wealth. Differences are also found between the goals of cultural production and cultural consumption (visitor impact). These findings might prove useful for policy implications regarding resource allocation vis-à-vis defining and accomplishing cultural purposes at a regional scale, and also for revealing causes of inefficiency with a view to improving quality in institutions –which ultimately drives economic development.