粤港澳大湾区制造业集聚与区域创新

以2009—2020年粤港澳大湾区11个城市为研究对象，探讨制造业集聚与区域创新的关系。研究发现，制造业集聚显著提高区域创新水平，可通过提高企业竞争这一路径实现。进一步分析发现，金融业集聚对区域创新发展具有显著的正向关系，金融产业和制造业产融协同集聚显著提高区域创新水平。研究结果表明，制造业集聚加剧产业内部企业创新竞争，带动区域创新发展，且金融业在创新中起到积极的推动作用。指出应鼓励区域企业创新竞争，优化营商环境，为产业融合发展提供保障。     

Does justice affect brand advocacy? Online brand advocacy behaviors as a response to hotel customers’ justice perceptions

This study focuses on customers' information-sharing behavior in the context of online brand advocacy behavior regarding hotel brands. We aim to explain hotel customers' online brand advocacy behavior through three-sided justice evaluations (i.e., justice for employees, justice for the self, and global belief in a just world), and their hotel satisfaction. Hypotheses are tested by using survey data acquired from 688 individuals on Amazon's Mechanical Turk (MTurk) through partial least squares structural equation modeling (PLS-SEM). The findings show that customers' perceptions of justice for the self positively affect their hotel satisfaction, perceptions of justice for employees and the global belief in a just world positively affect online brand advocacy behavior, and hotel satisfaction also positively affects online brand advocacy behavior. We expand current research efforts on online brand advocacy research and provide theoretical and managerial implications for the development of marketing and management research and practice.     

基于AHP-TOPSIS模型的京津冀家政服务人力资源供给质量评价研究

依托已有的研究成果构建了家政服务人力资源供给质量评价指标体系,利用AHP-TOPSIS模型对京津冀家政服务人力资源供给质量进行了评价和排名,并使用障碍度模型分析了员工制、准员工制、培训学校、中介制四种类型家政机构人力资源供给质量的关键制约因素,在此基础上,给出了不同类型家政机构人力资源供给质量改善的针对性建议,为家政服务人力资源供给质量的改善提供参考依据。     

Does corporate diversification create value in emerging markets? New evidence from Chile

Using a sample of 85 Chilean firms listed in the Santiago Stock Exchange from 2005 to 2013, we analyze the impact of corporate diversification on firm value. We consider voting rights of the main shareholder and institutional investors’ influence on firm value. We report firm‐value destruction for diversified firms. Regarding ownership concentration, we report a negative relation between the largest shareholder ownership and firm value. Separation between voting rights and cash flows rights of this shareholder is negatively related to firm value. While Pension Fund Administrators (AFP) mitigate firm value destruction in diversified firms, other institutional investors do not play an active role in controlling value destruction. Finally, if the largest owner is a family, we report firm‐value creation in diversified firms. Copyright © 2016 ASAC. Published by John Wiley & Sons, Ltd.     

Mandatory disclosure,greenhouse gas emissions and the cost of equity capital: UK evidence of a U-shaped relationship

This paper examines the effects of disclosing greenhouse gas (GHG) information mandatorily on the cost of equity capital (COC) using a longitudinal unbalanced panel database of the United Kingdom's FTSE 350 firms for the period 2011–2016. We use a nonlinear panel quantile regression (PQR) model to examine the relationship between GHG disclosure (GHGD) and COC in the United Kingdom. This technique was supplemented by conducting a two-step generalised method of moment (GMM) estimation to address any concerns related to the potential existence of endogeneity problems. Our findings suggest that high-level GHGD appeared to be negatively associated with COC up to a certain level, which is known as the turning point; then, any increase in GHGD is likely to increase the COC. This means that the nonlinear association between GHGD and COC is evidenced in our study and takes a U shape. Likewise, our findings are associative of a moderating effect of the 2013 carbon disclosure regulation (CDR) on the GHGD–COC nexus. We argue that mandatory GHGD and GHG risk are linked so that those companies that are associated with higher GHG risk have a tendency to be better disclosers. Consequently, we urge regulators to design GHGD regulations in a way that mirrors corporate environmental risk and leads to a lower COC in order to align the interests of corporations with those of the society at large.     

资本外逃的经济效应与应对政策选择研究

资本外逃是一个复杂的经济问题,是由多种原因造成的,并会给一国经济发展带来不可估量的风险和损失。基于此,论文梳理了资本外逃的研究现状,提出了资本外逃所产生的经济效应,在此基础上,提出了资本外逃的政策选择,为一国在治理资本外逃时提供了政策选择和借鉴。     

The role of innovation in venture capital: empirical evidence from European Union and EFTA countries

This article investigates the effects of innovation attempts on the venture capital and investment activity in the cases of the selected European Union plus European Free Trade Agreement countries using annual panel data and by controlling for real income growth and business sophistication. Our findings suggest that innovation has positively significant effects on venture capital in the cases without opt-out countries (United Kingdom and Denmark); however, these effects become negative in the cases with opt-out countries. Policy implications are provided in the conclusion section of this study.     

Social capital and well-being in the Italian provinces

Recent years witnessed a growing interest in the concept of well-being and quality of life, as alternative to the Gross Domestic Product (GDP). The determinants of well-being, especially at the regional and provincial levels, is understudied in a macro perspective, as opposed to a micro perspective (individuals, survey data) that has been the dominant approach until recently. In this paper, we estimate an empirical model for the Italian NUTS-3 provinces to evaluate the role of social capital on well-being by using aggregated (provincial) data. Our findings suggest that social capital, social security programs, income, and grant-making activities by Bank Foundations, even though not uniformly distributed across Italy, positively affect well-being, thus contributing to explain the persistent dualism that characterizes the Italian economy.