The effect of board size on shareholder value: Evidence from bank mergers and acquisitions

This study examines the effect of board size on the economic impact of bank mergers and acquisitions (M&A) in the US. Using a hand-collected dataset of 508 M&A between 2012 and 2018, we find that board size is negatively related to acquirer excess returns. In an additional analysis, we show that large boards have positive value implications for banks that combine the CEO and chairman roles as well as for large banks. Our findings indicate that a “one-size-fits-all” approach to board size is not necessarily in the interests of shareholders; instead, a more flexible and proactive formulation is needed.     

Revisiting the cooperation–competition paradox: A configurational approach to short- and long-term coopetition performance in business networks

Cooperation and competition are often viewed as incompatible, antagonistic forces, thus are operationalized as two extremes on a continuum. However, they can coexist and even enable each other, thus may be operationalized as orthogonal constructs. We address this contradictory phenomenon by developing a more granular view of the cooperation–competition paradox. Building on interdisciplinary research, we develop a three-dimensional model of relational space (fairness–opportunism, sharing–control, and engagement–rivalry), providing a novel tool with which to investigate the paradoxical interplay between cooperation and competition through eight operationalizable configurations. Using fuzzy-set qualitative comparative analysis (fsQCA), we test our model by assessing how different configurations of interfirm relationships influence the short- and long-term success of a sample of 217 firms. Our findings show that only two of the eight possible relational configurations are associated with firm success, one in both the long and short term, and the other in the short term only.     

What constitutes great IDEA? An examination of corporate diversity communication on facebook and external and internal stakeholder reactions

This study conducted a quantitative content analysis to examine corporate Inclusivity, Diversity, Equity, and Accessibility (IDEA) communication (n = 1216) from 48 corporations on Facebook through the lens of dimensionality, stakeholders, drivers (legitimation), and level of investment. Findings indicated that most of the IDEA communication on Facebook focused on gender and racial/ethnicity diversity, employee, and community stakeholders. The IDEA communication was almost equally value- and performance-driven and reflected external promotion level of investment. External stakeholders engaged more with performance-driven and external promotion IDEA communication. The volume of IDEA posts reflected corporate internal diversity practice and was positively related with Glassdoor ratings of the corporation by African American, Middle Eastern, and LGBTQ+ employees.     

走出离合词现象的迷局——从准定语与准名词现象入手

词的离合现象是语法研究中的老大难问题。文章独辟蹊径,从与词的离析使用密切相关的准定语和准名词入手,根据句子的信息结构原则,解释了词的离合现象的成因。文章指出,话语的信息结构安排是促成句法结构重组的语用推力:话题语的指称化处置诱发了准定语结构的操作,基本不涉及词的离析;评述语受单一新信息原则制约而出现的事件化处置,迫使及物性低的双音词强行拆分以容纳事件化所需要素,是诱发词的离析并催生准定语和准名词的直接动因。文章的观点是,用朴素的眼光看汉语,汉语中并无什么离合词,词的离合只是非形态语中双音词的用法变异,是语用型语言句子信息结构进行整编与重组的副产品。     

When are organizations punished for organizational misconduct? A review and research agenda

Scholars have highlighted the use of punishment as a tool to defend laws and norms, deter deviance, and restore justice in the aftermath of organizational misconduct. However, current theory and research primarily draw on a micro-oriented lens to understand how punishment occurs in response to deviant actors within organizations, neglecting macro-oriented questions of whether and how organizations are punished for their misconduct. We review sociological and macro-organizational work that suggests punitive severity can vary with three key attributes of the organization: status, reputation, and embedded ties. We then develop a mezzo-lens framework motivated at the intersection of micro- and macro-perspectives on organizational misconduct to shed light on opportunities for theoretical expansion by crossing levels of analysis.     

丑角、看客与孤独者的悲喜剧 ——鲁迅与穆时英笔下的丑角形象之比较

鲁迅与穆时英笔下都塑造过一系列具有丑角特质的形象。不同的是,穆时英笔下的丑角具有自觉性,以小丑身份为面具,掩盖自己的孤独与恐惧；鲁迅笔下的丑角多是非自觉的,他们认真地践行着自己的人生理念,却因其与周遭环境格格不入,被人当作小丑、疯子。从中折射出两位作家迥异的生命观,穆时英从个体角度出发,写出了都市人在悲哀的脸上戴了快乐面具的无奈,对丑角表演持拥抱态度；鲁迅则从批判国民性的宏观角度出发,敏锐地意识到了丑角表演背后的隐忧,对其持拒斥的姿态。     

论改善型民生

根据支撑基础、责任负担、保障水平以及民众需求等维度，可以把民生保障划分为托底型、基本型、改善型以及富裕型等四种类型。改善型民生是经济社会发展到一定阶段的产物，也是国家治理体系与治理能力现代化的客观要求。它是指通过各类民生项目的安排及民生待遇优化以促进民众生活得到持续改善、社会发展水平得到提升的一种制度类型，是民生项目更加齐全、内容更为完善、治理水平更高、使民众各按其分的民生模式，是人们的日常生活与服务消费支出总额持续增长以便能够提升生活水平的民生类型，是那种不断满足人的需要特别是较高层次需要的模式类型，也是更有助于形成社会结构稳定、国家长治久安的民生制度类型，因而具有综合性、完善性、激励性以及发展性等特点。这要求我们优化民生类型设计及民生投入结构，补齐改善型民生短板，营造良好社会秩序，扎实推进国家治理体系及治理能力现代化建设。     

当代资本主义经济停滞问题:制度结构与治理危机——基于积累的社会结构理论的分析

关于经济停滞问题的探讨是对马克思主义经济危机理论的传承。2008年金融危机爆发十余年,资本主义经济停滞趋于常态化。积累的社会结构理论从资本积累与支撑这一积累的制度环境之间的矛盾出发,发现了主流经济学探讨资本主义经济停滞所忽略的制度性因素。积累的社会结构学派沿着"中间层次"的路径,将2008年金融危机界定为系统性的结构危机,认为新自由主义SSA的失灵是此次经济停滞持续的原因。资本主义经济停滞引发欧美发达资本主义国家的社会治理危机升级,一系列政治、社会和文化危机不断加剧。积累的社会结构理论从微观层面深刻把握了资本主义制度转型的轨迹,但并未深入探讨开展根本的制度变革。在面临百年未有之大变局的时代境遇下,中国在参与全球治理的过程中不断探索并推动世界经济政治新秩序朝着更加公正、合理的方向发展。     

Capturing hearts and minds: The influence of relational identification with the leader on followers' mobilization and cardiovascular reactivity

The influence of relational identification (RI) on leadership processes and the effects of social identity leadership on followers' responses to stress have received scant theoretical and research attention. The present research advances theoretical understanding by testing the assertion that high RI with the leader drives follower mobilization of effort and psychophysiological responses to stress. Two experimental scenario studies (Study 1 and Study 2) support the hypothesis that being led by an individual with whom followers perceive high RI increases follower intentional mobilization. Study 2 additionally showed that high (vs. low) RI increases follower resource appraisals and cognitive task performance. A laboratory experiment (Study 3) assessing cardiovascular (CV) reactivity showed that, compared to neutral (i.e., non-affiliated) leadership, being led by an individual with whom participants felt low RI elicited a maladaptive (i.e., threat) response to a pressurized task. In addition, relative to the low RI and neutral conditions, high RI with the leader did not engender greater challenge or threat reactivity. In conclusion, advancing social identity leadership and challenge and threat theory, findings suggest that leaders should be mindful of the deleterious effects (i.e., reduced mobilization and greater threat state) of low RI to optimize follower mobilization of effort and psychophysiological responses to stress.