转换障碍对顾客忠诚作用的实证分析

建立了结构方程模型用于检验积极转换障碍和消极转换障碍与顾客忠诚之间的关系,运用LISREL软件对223个方便样本数据展开分析。结果说明：转换障碍通过顾客满意对顾客忠诚产生调和作用;积极转换障碍对顾客满意和顾客忠诚产生正向作用,消极转换障碍对顾客满意和顾客忠诚产生负向作用。此结论与其他研究者的结论有所差异,可解释的原因为：在消极转换障碍较高的市场中,消费者会产生较高的不满情绪,从而导致转换意图（行为忠诚）的产生。     

外商直接投资与中国雾霾治理——基于要素市场扭曲视角的分析

结合寻租理论与地方政府竞争理论,以外资企业与地方政府互动为切入点,构建FDI-要素市场扭曲-雾霾污染的逻辑框架,基于中国2004~2018年城市面板数据,构造动态空间杜宾模型与空间联立方程模型研究FDI对雾霾污染的影响机制,结果显示：（1）FDI既通过产业结构升级、环境技术溢出（区域内与区域间）、源自全球价值链分工的空间溢出发挥治霾效应,又通过要素市场扭曲（区域内与区域间）与经济规模加剧雾霾,最终总体上有利于治霾;（2）为吸引FDI,地方政府在要素市场上存在逐底竞争,加剧了要素市场扭曲;（3）要素市场扭曲削弱了FDI的产业结构升级效应与环境技术溢出效应,并刺激其经济增长效应,从而不利于发挥其治霾效应;（4）雾霾污染存在显著的路径依赖特征与空间溢出效应,并抑制偏好优质环境的FDI的流入。     

Mediating role of customer forgiveness between perceived justice and satisfaction

The relationship between perceived justice facets and satisfaction is well discussed in literature. The aim of this study is to test the mediating impact of customer forgiveness between justice facets and satisfaction in the context of Pakistan's banking industry. Structural equation modelling was employed to test the proposed hypotheses by using the data of 453 bank customers of domestic banks in Pakistan. Results of the study indicate that customer forgiveness mediates the relationship between justice facets and satisfaction. However, the direct impact of procedural justice on satisfaction was insignificant. Such findings have implications to theory and practice. In theory, it proposes and tests new linkages. In practice, managers need to consider that not only the justice facets but customer forgiveness is also an important predictor of satisfaction.     

Dividend policy and capital structure of a defaultable firm

Default risk significantly affects the corporate policies of a firm. We develop a model in which a limited liability entity subject to default at an exponential random time jointly sets its dividend policy and capital structure to maximize the expected lifetime utility from consumption of risk‐averse equity investors. We give a complete characterization of the solution to the singular stochastic control problem. The optimal policy involves paying dividends to keep the ratio of firm's equity value to investors' wealth below a critical threshold. Dividend payout acts as a precautionary channel to transfer wealth from the firm to investors for mitigation of losses in the event of default. Higher the default risk, more aggressively the firm leverages and pays dividends.     

The impact of internal,external, and competitor factors on marketing strategy performance

ABSTRACT

Strategy formulation is commonly understood as the match between a firm’s internal resources and skills and its external environment. Marketing strategy performance is the function of a dynamic, interactive process incorporating internal firm resources, external environmental factors, and competitive actions. The study aims to assess the impact of competitor actions on marketing strategy performance. We develop a model that accommodates the effects of 29 variables (comprising internal marketing strategy variables, external environmental factors and competitors’ marketing mix variables) on business performance. We empirically test the model using simultaneous equation modelling of time-series data on UK car manufacturers collected from publically available resources and annual reports. The results show that external factors, in particular competitors’ marketing mix elements, have a greater influence on a company’s business performance than internal (marketing and non-marketing) strategy variables. Implications for marketing theory and management are discussed.     

Deconfounding and Causal Regularisation for Stability and External Validity

We review some recent works on removing hidden confounding and causal regularisation from a unified viewpoint. We describe how simple and user-friendly techniques improve stability, replicability and distributional robustness in heterogeneous data. In this sense, we provide additional thoughts on the issue of concept drift, raised recently by Efron, when the data generating distribution is changing.     

Does financial development stimulate environmental sustainability? Evidence from a panel study of 115 countries

This paper investigates the moderation effect of financial development (FD) on the environmental Kuznets curve (EKC). Using comprehensive panel data of 115 countries spanning the 1990–2016 period and dividing the countries into different income groups, the researcher found systematic differences in the relationship between significant indicators of environmental degradation and economic growth. More specifically, the interaction effect of FD on the relationship between gross domestic product (GDP) growth and CO₂ emissions are positive; nevertheless, the interaction effect of FD on the relationship between GDP squared and CO₂ emissions become negative for all income groups and therefore supports the EKC. Moreover, the interaction effect of FD is negative on the relationship of GDP with both CH₄ and PM_2.5 emissions in the middle‐income groups, whereas the interaction effect of FD on the relationship between GDP squared and PM_2.5 emissions are negative for the high‐income group. Our results suggest that FD can reduce environmental degradation without adversely impacting on growth.     

绿色管理、企业形象与竞争优势关联性研究

中国大陆已成为世界性的生产集中地,在企业迅速发展的同时,生态环境亦遭受严重冲击,若长期忽略环境问题,将对企业永续发展产生重大威胁与挑战,因而实现节能减排和绿色管理已成为业界的共识.本研究旨在探讨绿色管理、企业形象与竞争优势之关联性,以结构方程模式对中国大陆企业员工与主管共286个有效样本作数据分析.研究结果发现,本研究假说皆获得支持验证,在绿色管理对竞争优势、绿色管理对企业形象、企业形象对竞争优势之影响等路径皆达到显著水平;企业形象在绿色管理与竞争优势之间的影响关系则为部分中介模式.本研究提出了相关讨论与建议,以提供中国大陆企业在实践绿色管理策略与后续研究之参考.     

Resident attitudes toward sustainable community tourism

This study examined, using social exchange theory, a range of variables involved in determining resident attitudes toward tourism development and the adoption of sustainable tourism. After a comprehensive review of the literature on the role of residents in tourism development, and of the use of social exchange theory, 430 completed questionnaires obtained in a Texas town involved in tourism were analyzed. A structural equation model was utilized to understand the effects of selected components of sustainability on the attitudes of the respondents about future tourism development and to test hypothesized causal relationships among the variables. The findings revealed that three major components of sustainable tourism, namely long-term planning, full community participation and environmental sustainability within tourism, are critically related to support for tourism and to the positive and negative impacts of tourism. The paper uses the findings to suggest critical implications that local governments need to consider when developing tourism.