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1.
Are farmers better stewards of the land they own than the land they rent from others? We answer this question using a data set that identifies Ontario farmers’ conservation practices on their own land as well as the land they rent. Using a fixed‐effects regression approach, we find that the role of tenure varies for different types of conservation practices. Farmers were found to be just as likely to adopt a machinery‐related practice such as conservation tillage on their rented land as that land which they own. On the other hand, farmers were found to be less likely to adopt site‐specific conservation practices such as planting cover crops on rented land. However, this effect diminishes as the expected length of the rental relationship increases when the landlord has a farming background. 相似文献
2.
Most wholesalers are small family-owned firms that frequently lack marketing skills and an infrastructure capable of setting into practice state-of-the-art marketing distribution systems. They are much more consumed with daily activities and credit and collection functions than they are with developing marketing skills and logistics networks. The purpose of this exploratory study is to identify the elements of marketing skills and logistics that are associated with the performance of small and large wholesalers, and to compare and contrast these variables. Data were collected from 4500 small and large wholesalers in Hyogo and Osaka prefectures in Japan. Multiple regression analysis of this study found that the factors of supplier's financial assistance and buyer's services to wholesalers explained the performance of small wholesalers, and the factors of supplier's service to wholesalers and buyer's service to wholesalers explained the performance of large wholesalers. Multivariate analysis of variance and multiple discriminant analysis revealed that large and small wholesalers differed with respect to supplier's services to wholesalers, the supplier's financial assistance, and the wholesaler's intra logistics activities. Implications are discussed. 相似文献
3.
Cindy Claycomb Author Vitae Karthik Iyer Author Vitae Richard Germain Author Vitae 《Industrial Marketing Management》2005,34(3):221-234
Through the use of business-to-business electronic commerce (B2B e-commerce), leading companies are transforming interorganizational transaction processing, trading, and collaboration into a competitive advantage. The research empirically examines several models with B2B e-commerce overall use as the dependent variable and innovation characteristics, context, channel factors, and organizational structure as the predictor variables. The results demonstrate that compatibility with existing systems, cooperative norms with customers, lateral integration within a firm, technocratic specialization, and decentralization of information technology decisions facilitate B2B e-commerce overall use. In addition, large firms are more likely than small firms to have greater levels of B2B e-commerce and firms are more likely to use B2B e-commerce with customers that use recommendations rather than threats to encourage e-commerce use. 相似文献
4.
Drawing on a sample of 1223 US hotels, this paper examines the relationships between compensation (direct and indirect) practices in hotel organizations and their performance. The results show that in the case of management employees, direct compensation fully mediated the relationship between indirect compensation and hotel performance. In the case of non-management employees, however, such relationship was only partially mediated by direct compensation. It is therefore important for hotel industry HR executives to pay greater attention to the nature and level of benefits being offered to non-management employees. For management employees, on the other hand, it is more important to attend to the level of direct compensation in order to ensure higher levels of organizational performance. 相似文献
5.
SFAS 142 requires managers to estimate the current fair value of goodwill to determine goodwill write-offs. In promulgating the standard, the FASB predicted that managers will, on average, use the fair-value estimates to convey private information on future cash flows. The current fair value of goodwill is unverifiable because it depends in part on management??s future actions (including managers?? conceptualization and implementation of firm strategy). Agency theory predicts managers will, on average, use the unverifiable discretion in SFAS 142 consistent with private incentives. We test these hypotheses in a sample of firms with market indications of goodwill impairment. Our evidence, while consistent with some agency-theory based predictions, does not confirm the private information hypothesis. 相似文献
6.
In this article, we assess the time-varying volatility of the National Stock Exchange in the Indian equity market using unconditional estimators and asymmetric conditional econometric models. The volatility estimate and forecast is computed from the interday return and intraday range-based data of the exchange’s flagship index, CNX NIFTY, for the time period spanning 1 January 2009 through 31 December 2013. These are our findings: First, we determine that the time-varying volatility of the index is asymmetric with qualities of stationarity and leptokurtic distribution. Second, the one-step-ahead volatility forecast derived from the univariate time series parameters through the GJR-GARCH ?????process indicates that the model evaluation criteria of the autoregressive process tends towards range-based models vis-à-vis a return-based model. The validity of this methodology is further analysed with the superior predictive ability test, the outcome of which supports the use of range-based conditional models. Finally, among the evaluated range-based model variants, the model confidence set procedure favours the Yang–Zhang estimator as being better suited to forecast the exchange’s volatility than the ones by Parkinson, Garman–Klass and Rogers–Satchell. 相似文献
7.
We find significant variation in the prior stock returns of firms that dismiss their CEOs between 1996 and 2008. 49% of firms that dismiss their CEOs do so in the absence of negative industry-adjusted stock returns prior to dismissal (37% dismiss in the absence of negative raw returns). We find evidence for two reasons why boards may dismiss CEOs early, i.e., in the absence of significant poor prior stock performance. First, we find that early dismissals are more likely to be associated with corporate scandals, suggesting that CEOs that are found to engage in unethical or illegal activities are dismissed although their actions may not have a significant adverse impact on firm value. Second, we find support for the argument that early dismissals are proactive actions by boards to dismiss low ability CEOs. We find that firms with more equity-based compensation for directors and higher independent director ownership are more likely to dismiss their CEOs early. Boards with strong incentives are more likely to be proactive and act on their private information about the CEO than boards with poor incentives. Early dismissal firms experience a short-lived decline in operating performance around the date of CEO dismissal, and their operating performance recovers immediately after the CEO is replaced. On the other hand, the operating performance of late dismissal firms declines significantly prior to dismissal and improves substantially after dismissal. We also find that CEOs that are dismissed early are not more likely to find new CEO positions than CEOs that are dismissed late, supporting the idea that early dismissal CEOs may not have different ability than late dismissal CEOs. 相似文献
8.
Xinyuan Zhao Karthik Namasivayam 《International Journal of Hospitality Management》2012,31(2):458-467
The results of a field study examining the moderating role of chronic self-regulatory focus on the relationships between work-family conflict (WFC) and job satisfaction are reported here. Data from 284 hotel employees were analyzed using hierarchical regression with follow-up simple slope analyses. Results show that self-regulatory processes moderate the relationships between WFC and job satisfaction. When work interfered with family obligations, individuals reporting higher levels of chronic promotion focus were less satisfied with their jobs. On the contrary, when their family roles interfered with work tasks employees with higher levels of chronic prevention focus were less satisfied with their jobs. 相似文献
9.
The authors study how internal and downstream integration and their interaction affect logistical and financial performance within the firm. The results indicate that internal and downstream integration and their interaction affect logistical performance — that is, the higher the internal integration, the stronger the relationship of downstream integration with logistical performance. The results also suggest that logistical performance directly predicts financial performance. The results suggest that superior performance derives from the firm simultaneously integrating functions, decision‐making, and processes both within the firm and across the supply chain. 相似文献
10.
Karthik Balakrishnan Lakshmanan Shivakumar Peeyush Taori 《Journal of Accounting and Economics》2021,71(2-3):101367
We explore a large sample of analysts' estimates of the cost of equity capital (CoE) to evaluate their usefulness as expected return proxies (ERP). We find that the CoE estimates are significantly related to a firm's beta, size, book-to-market ratio, leverage, and idiosyncratic volatility but not other risk proxies. Even after controlling for the popular return predictors, the CoE estimates incrementally predict future stock returns. This predictive ability is better explained as the CoE estimates containing ERP information rather than reflecting stock mispricing. When evaluated against traditional ERPs, including the implied costs of capital, the CoE estimates are found to be the least noisy. Finally, we document CoE responses around earnings announcements, demonstrating their usefulness to study discount-rate reactions of market participants. We conclude that analysts' CoE estimates are meaningful ERPs that can be fruitfully employed in a variety of asset pricing contexts. 相似文献