COVID-19 impact on firm investment—Evidence from Chinese publicly listed firms

The COVID-19 outbreak had a significant impact on business cash flows and investment activities. This paper examined the COVID-19 impact on Chinese business investment in 3326 A-share listed quarterly financial reports, from which it was found that the negative relationship was more pronounced in the large, eastern Chinese state-owned firms. Using a propensity score matching method and difference-in-differences estimation, corporate financial flexibility was also examined, with the results indicating that high cash flexibility provided a buffer that allowed firms to better deal with adverse external shocks as the firms that had high cash flexibility were able to significantly increase their investments after the COVID-19 outbreak. Various robustness tests were conducted, all of which verified the robustness of the results. Overall, the empirical results provided evidence that the COVID-19 pandemic in China had a negative impact on Chinese listed firms, and verified the vital role of flexible financial reserves for firm survival and development during crises.     

The effects of offering flexible work practices to employees with unpaid caregiving responsibilities for elderly or disabled family members

Approximately one in 10 employees in Australia, the United States, and Europe have unpaid caregiving responsibilities for elderly or disabled family members. This combination of employment and caregiving roles is problematic when there is conflict between their simultaneous demands. Flexible work practices can be an important mechanism for assisting these employees. However, limited attention has been given to determining the benefits of flexible work practices for these employees, or the process by which these effects arise. We address these gaps via a survey of employees with unpaid caregiving responsibilities for family who are elderly or disabled. Results indicate that greater availability of flexible work practices improves perceptions of workplace support for combining caregiving and employment. This effect was partially and sequentially mediated by disclosure, practice utilization, and practice helpfulness. Additionally, practice availability had a direct positive effect on practice utilization, while disclosure had a direct positive effect on perceived support. Overall, the findings demonstrate the benefits of flexible work practices for employees with caregiving responsibilities. The study also points the way to interventions that can improve the effectiveness of flexible work practices by demonstrating how the potential benefits of these practices are translated into actual improvements in perceived support.     

How does self-construal shape tourists' image perceptions of paradox destinations? The mediating roles of cognitive flexibility and destination involvement

This study proposes the concept of the ‘paradox destination’ as a novel destination positioning strategy for destination marketers. A paradox destination strategy describes the situation where a destination delivers a brand identity with contradictory personalities. Four experiments were conducted to investigate the interactive effects of self-construal (independent vs. interdependent) and destination type (paradox vs. non-paradox) on the image perception of potential tourists. The results revealed that independent potential tourists have a more positive image perception of paradox destinations than do interdependent potential tourists. Moreover, independent potential tourists reported a more positive image perception of paradox destinations than they did for non-paradox destinations. The mediating effects of cognitive flexibility and destination involvement were also tested by this research. In addition to theoretical implications, this paper also provides practical marketing strategies for destination marketers.     

实物期权在制造系统中的应用

实物期权是一种新的有很大发展前途和应用潜力的投资评价方法,人们对它在制造系统中的应用还没有给予足够的重视。本研究从设备柔性、生产柔性和企业总体柔性角度,对实物期权在制造系统中的应用进行了回顾,指出:实物期权是一种对制造系统有具大应用价值的战略管理工具;企业为了提高制造柔性,发展了多种经营形式;制造柔性不但有经营价值,也有战略价值;企业要关注战略柔性,应当把柔性的管理作为重要的战略任务;同时,企业还应对柔性的价值和成本进行权衡,以确定其经济性。     

Caught in the Middle: Organizational Impediments to Middle Managers’ Work-life Balance

As increased work demands and longer working hours become the reality for many employees, the concept of work-life balance has received increasing attention. This paper presents findings from an exploratory study of Australian middle managers, which investigated the impact of middle managers’ daily organizational experiences on their lives both in and beyond the workplace. We focus on respondents’ reports of the difficulty in achieving work-life balance, specifically, the organizational impediments to creating balance. Three particular areas where these impediments were apparent are: the impact of new technologies; limits to autonomy and control in the middle management role; and difficulties in taking advantage of flexibility initiatives in the workplace. As middle managers are caught in the middle between work and personal life, there is a need for organizations to support middle managers’ efforts to achieve work-life balance if the organization’s long-term goals are to be achieved.     

Credit supply,post-acquisition performance and financial constraints

We study the effect of credit supply on the acquisition behaviour of financially constrained (FC) and financially unconstrained (UC) firms. FC firms are likely to conduct acquisitions when credit supply is greater while UC firms can conduct acquisitions whenever a good opportunity arises. We argue that the flexibility unconstrained firms have is valuable. Our empirical results indicate that UC firms outperform FC firms up to 36 months after the acquisition. We also find that increased credit supply increases the probability of conducting mergers and acquisitions (M&As) for FC firms while it has less impact on M&A behaviour of UC firms.     

小议如何培养高职学生的数学思维

数学课是高等院校的基础课,是为各专业课的开设打基础的。数学知识是学生今后自学和深造所必备的知识。普通高校培养的是高级研究型、学术型人才,而高职高专院校培养的是应用型、技艺型人才。因此,在数学教学时,更重于数学思维和数学方法。为此,本文从不同的角度探讨了高职学生的数学思维。     

基于零售业连锁经营的供应链柔性探析

供应链作为一个动态系统,在这个动态系统中存在着诸多不确定性因素,这些不确定因素影响着整个供应链的运转效率.因此,从客观上要求供应链具有一定的适应环境变化和处理不确定性因素的柔性能力.对于零售业中以连锁经营企业为核心的供应链存在着两个主要的不确定性因素,一个是上游的供应商一个是下游的消费者,如何评价和处理这两个不确定因素对于提高连锁经营的效率至关重要.应对不确定因素的方法可以提高连锁经营的供应链柔性,从而提高连锁经营的效率.     

Flexibility for Whom? Control over Work Schedule Variability in the US

Abstract

According to the May Work Schedules and Work at Home Supplement of the Current Population Survey in 1997, 2001, and 2004, the proportion of employees in the United States with variable starting and/or stopping times who do not control their schedules has increased rapidly since the late 1990s. This category included one out of nine civilian employees ages 18–65 in 2004. These jobs have increased rapidly within industries and occupations. The incumbents of these jobs are more likely to be men, black, and immigrant; white, US-born women' chances of holding such jobs are greatly reduced by their responsibility for children. These findings identify a growing tendency to structure jobs so as to exacerbate the conflict between family work and paid employment, and to reinforce the gender division of labor between home and wage labor, especially in the most disadvantaged communities within the US.