Relationship between positive psychological capital and creative performance

Despite considerable attention to the creative process and its relationship with personal characteristics, there is no published study focused directly on the relationship between the recently recognized core construct of psychological capital (PsyCap) and creative performance. Drawing from a large (N = 899) and heterogeneous sample of working adults, this study investigates PsyCap and its components (i.e., efficacy, hope, optimism, and resilience) as predictors of creative performance. Overall PsyCap predicted creative performance over and above each of the four PsyCap components. Theoretical and practical implications of these findings are considered. Copyright © 2010 ASAC. Published by John Wiley & Sons, Ltd.     

An empirical analysis of euro cash payments

If the denominational structure of the euro is used in an optimal way, there should be no preferences for certain coins and notes when making cash payments. In Kippers et al. [2003. An empirical study of cash payments. Statistica Neerlandica 57, 484-508] it is documented that the Dutch public did have certain preferences concerning the Dutch guilder in the sense that a few notes and coins were used less often than they should have been. With the advent of the euro, which changed the denominational structure from 1--5 (guilder) to 1-2-5 (euro), it is of interest to examine whether there are any preferences for euro coins and notes. In this paper we use a unique dataset for the Netherlands to empirically examine if the euro range is used in an optimal way. We find that there are no preferences for certain euro denominations.     

The spillover effect of financial information in mergers and acquisitions

In this study we investigate whether and how a firm's investment activities are affected by the financial information of peer firms on merger and acquisition (M&A) efficiency. Using changes in M&A accounting performance to measure efficiency, we find a positive association between the post-M&A accounting performance of an acquiring firm and that of previous peer acquirers. We show that this spillover effect is derived from peer firms with improved rather than poorer post-M&A accounting performance. We also find that the spillover effect varies with the characteristics of both the acquiring and the peer firms. The effect is stronger when the peer firms are larger, are non-SOEs (vs. SOEs), have improved accounting performance after M&As and undertake M&As with unrelated (vs. related) entities, and when the acquiring firms are smaller, non-SOEs (vs. SOEs) and have poorer accounting performance before M&As.     

CLASSIFICATION PROBLEMS AND THE DIVIDING LINE BETWEEN GOVERNMENT AND THE MARKET: AN EXAMINATION OF NHS FOUNDATION TRUST CLASSIFICATION IN THE UK

ABSTRACT: In this paper we argue that national accounting categories provide an inadequate basis for evaluating differences between public and private sector services. This is because accounting categories rely on economic concepts such as market price but do not take account of substantive public policy goals such as universality. The argument has important consequences for the structures and systems of delivery especially where nonprofit providers and social enterprise models are substituted for public bodies formerly integrated into the government's delivery system. Using an example taken from the UK's National Health Service, we show that the mechanisms for ensuring universality through redistribution are not sufficiently taken into account for classification purposes.     

中国金融结构问题与M2/GDP偏高现象研究

上世纪90年代中期尤其是1997年之后,流动性过剩和资产价格剧烈波动成为中国经济运行中的典型现象,表现为货币供给量的变化和实体经济变量即产出和物价变化的脱节———M2/GDP偏高现象。根据宏观经济学的分析框架,货币总量与名义GDP之比作为衡量流动性过剩的尺度,反映了货币供求状态与实体宏观经济总量之间的关系。当流动性过剩成为持续现象时,说明相对于实体经济形成的总供给,货币市场持续出现超额供给,即货币市场提供的一部分货币资金没有流向实体经济,或投入到实体经济的货币资金没有形成真实的商品供给。由于现代货币制度下,货币供给量与金融体系提供的信贷规模和信贷资金流向紧密联系。因此考察流动性过剩现象应该更多关注金融结构,进而金融资源的配置方式和效率的变化。本文结合金融结构发展情况分析中国M2/GDP偏高现象,揭示金融结构发展中的问题并提出相应对策。     

M2M消防远程监控系统的应用

文章把M2M的概念引入消防远程监控系统中应用,消防远程监控系统通过运营商网络将各建筑物内独立的火灾自动报警系统联网,在监控中心内对所有联网建筑物的火灾报警情况进行实时监测,对消防设施进行集中管理。     

道路运输行业面向节能减排的I/M制度检测方法研究

I/M制度是保证汽车处于良好的技术状况,投资最少、最有效、最根本的途径。文章介绍了适用于我国道路运输行业现状的I/M制度在实施时所能采用的检测方法。并且对这些检测方法进行了详细的分析及比较。     

ERM crisis in retrospect: What if a European central bank had been in existence before 1992?

This paper explores whether policy coordination or a single monetary policy implemented earlier would have kept the U.K. in the process of European monetary integration. On the basis of the pre-ERM crisis empirics by Douven and Plasmans (1996), a counterfactual game simulation approach is used, and five scenarios are established for comparison with the actual historical records. The final answer is negative.     

The impact of firm strategy on performance measures used in executive compensation

We investigate the relationship between firm strategy and the use of performance measures in executive compensation. Our analysis shows that there is an increased emphasis on sales in the determination of executive compensation for firms pursuing a cost leadership strategy, which seek to achieve their competitive advantage through low price and high volume. In contrast, there is a decreased emphasis on accounting measures in firms pursuing a differentiation strategy, which require investments in brand recognition and innovative products, investments that are subject to unfavorable accounting treatment. These results indicate that compensation committees link executive rewards to firm strategy.     

Are Asian Sovereign Wealth Funds Different?

Sovereign wealth funds have become a prominent feature of the international financial landscape. However, legitimate concerns have been raised about these funds. Many of those concerns can be addressed via increased accountability and transparency by the funds. The Santiago Principles are a good start in doing so. My sovereign wealth funds scoreboard points to areas where these Principles can be improved. At the same time, the OECD effort to address concerns from the host‐country side has not resulted in the erection of new barriers to that form of cross‐border investment, but the OECD failed to reverse the creeping financial protectionism of the past decade. Because of their size and the source of their funding, some Asian funds stand out. As a result, those funds will be held to a higher standard of accountability and transparency.