启发式认知下的会计信息价值相关性研究

通过借鉴行为经济学对投资者启发式认知方式研究的发展,本文发现,目前的会计研究基本忽视了会计信息的价值相关性与投资者在短时间内的决策特征有着密切的联系,我国的一些研究成果认为上市公司的信息披露都存在"好消息早、坏消息晚"的现象,并且提出以报表发布时间的早晚采衡量及时性的观点.对此,本文结合我国特殊的制度背景,探讨了在新信息即将发布前的短时间窗口中市场反应的具体诱因,发现投资者的心态和认知过程对会计信息的价值相关性影响较大,而报表发布时间并不构成会计信息价值相关性的影响因素,我国当前制度仍存在着不利于投资者保护的潜在风险.     

The Rise of Global Warming Skepticism: Exploring Affective Image Associations in the United States Over Time

This article explores how affective image associations to global warming have changed over time. Four nationally representative surveys of the American public were conducted between 2002 and 2010 to assess public global warming risk perceptions, policy preferences, and behavior. Affective images (positive or negative feelings and cognitive representations) were collected and content analyzed. The results demonstrate a large increase in “naysayer” associations, indicating extreme skepticism about the issue of climate change. Multiple regression analyses found that holistic affect and “naysayer” associations were more significant predictors of global warming risk perceptions than cultural worldviews or sociodemographic variables, including political party and ideology. The results demonstrate the important role affective imagery plays in judgment and decision‐making processes, how these variables change over time, and how global warming is currently perceived by the American public.     

An Exploratory Study of Variations in Exposure to Environmental Tobacco Smoke in the United States

There is considerable interest in assessing exposure to environmental tobacco smoke (ETS) and in understanding the factors that affect exposure at various venues. The impact of these complex factors can be researched only if monitoring studies are carefully designed. Prior work by Jenkins et al. gathered personal monitor and diary data from 1,564 nonsmokers in 16 metropolitan areas of the United States and compared workplace exposures to ETS with exposures away from work. In this study, these data were probed further to examine (1) the correspondence between work and away-from-work exposure concentrations of ETS; (2) the variability in exposure concentration levels across cities; and (3) the association of ETS exposure concentrations with select socioeconomic, occupation, and lifestyle variables. The results indicate (1) at the population level, there was a positive association between ETS concentrations at the work and away-from-work environments; (2) exposure concentration levels across the 16 cities under consideration were highly variable; and (3) exposure concentration levels were significantly associated with occupation, education, household income, age, and dietary factors. Workplace smoking restrictions were associated with low ETS concentration levels at work as well as away from work. Generally, the same cities that exhibited either lower or higher away-from-work exposure concentration levels also showed lower or higher work exposure concentration levels. The observations suggest that similar avoidance characteristics as well as socioeconomic and other lifestyle factors that affect exposure to ETS may have been in operation in both away-from-work and work settings.     

Conceptualizing Effects of Office Information Systems: A Methodology and Application for the Study of Alpha,Beta, and Gamma Changes*

This article applies the concepts of alpha, beta, and gamma changes to test whether the implementation of a new office information system with networking capabilities changes the way organizational members conceptualize office work. The traditional approach (t-test) was used to measure alpha change and indicated little change in how effectively the respondents felt they performed eight generic office activities before implementation (T1) and nine months after implementation (T2). However, considerable change was detected between effectiveness reported at T1 and a retrospective assessment of T1 effectiveness reported at T2 (called “then” assessments). Strong change was also detected between “then” assessments and T2 effectiveness reported at T2, indicating beta change. Multiple hierarchical tests showed that most of the change was actually gamma change; the T2 and the “then” factor structures and covariances differed significantly. This study supports propositions that using computers to accomplish organizational work may be associated with different conceptualizations of work, which may create ambiguity and uncertainty if training and management policies do not respond appropriately. Finally, this study provides an expanded version of a prior solution to detecting alpha, beta, and gamma changes.     

The Financial Impact of FSC Certification in the United States: A Contingency Perspective

This article focuses on an important and emergent standard for sustainable operations management: the Forest Stewardship Council (FSC) certification. Unlike similar certifications, its focus is on the entire upstream supply chain, reflecting the criticality of supply chain management to ensure sustainable products. We investigate the financial impact from FSC certification, offering valuable decision support for managers considering this certification. Taking a contingency perspective, we view a firm's supply chain position and its prior certification to the ISO 14001 standard as influencing the results. Drawing on signaling theory, we suggest that firms farther downstream in the supply chain realize significantly greater abnormal financial performance benefits than firms upstream in the supply chain. We further hypothesize that firms that were not ISO 14001 certified at the time of FSC certification realize significantly greater abnormal financial performance benefits than firms that did have the ISO 14001 certification. To test these hypotheses, we utilize financial data of all publicly traded firms in the United States that have obtained the FSC certification, and assess whether FSC certification leads to abnormal performance benefits considering the above contingencies. Data collected from the FSC Certificate Database and Compustat, employed in an event study, provide support for our hypotheses. Overall, our findings contribute to research on decision making in the context of sustainable operations management, and offer a plausible explanation for contradictory results in prior studies. We highlight the applicability of signaling theory to decision sciences research, and stress the need to consider contingencies in sustainability management research.     

公允价值的运用与应计利润功能——基于中国新旧会计准则比较的研究

与现有文献多从价值相关性角度研究公允价值的实施后果不同,本文通过考察我国新准则下应计利润功能的变化来评价公允价值对会计盈余的影响.以2006年非金融类上市公司为样本,我们发现新准则下各期经营性现金流对应计利润的解释能力显著下降,应计利润与上期现金流之间的正相关关系,以及与本期现金流之间的负相关关系都所有减弱,但与下期现金流之间的正相关关系以及对之的预测能力显著增强,对经济收益的确认更加及时和充分.鉴于新准则对会计盈余、特别是应计利润的系统性影响主要来自于公允价值的运用,这些证据表明实施公允价值能够增强应计利润确认经济收益功能,但会削弱其降低现金流噪音功能.     

控股股东两权偏离、董事会行为与企业价值:基于中国民营上市公司面板数据的比较研究

论文对2002-2004年中国民营上市公司的董事会行为与公司价值之间的关系进行了实证研究.在根据面板数据本身的特征选择适宜回归技术的基础上,通过研究发现,在通过家族控股上市而形成的民营上市公司中,年度内董事会会议次数对企业的市场价值有显著的正向影响,而在通过兼并重组取得控股地位的民营上市公司中,这种影响并不显著;在考虑控股股东现金流权与投票权分离程度的调节作用后发现,随着控股股东现金流权与投票权分离程度的提高,年度内董事会召开会议次数的增加有利于企业市场价值的增加.同时,本研究通过比较不同回归方法的结果还发现,如果不注意控制面板数据本身可能存在的非观测因素的影响,就可能会得出虚假的结论,这启发我们在对面板数据进行分析时,一定要审慎选择具体的回归技术,而不能简单地直接选择OLS方法.     

Cooperation Versus Confrontation: A Comparison of Approaches to Environmental Risk Management in Japan and the United States1

This paper compares approaches to environmental risk management in Japan and the United States. The paper includes an historical examination of two case studies of environmental risk management: synthetic detergents and lead in gasoline. In addition, the paper discusses several important differences between Japan and the United States, including (a) different attitudes toward separating environmental risk management from environmental risk assessment, and (b) different approaches toward environmental risk management. Specifically, the Japanese approach is based largely on a cooperative model of risk management, with a strong emphasis on negotiation and consensus-building, while the U.S. approach is based largely on a confrontational model of risk management, with a strong emphasis on rigorous scientific analysis and open adverserial processes.     

Three dimensions of COVID-19 risk perceptions and their socioeconomic correlates in the United States: A social media analysis

Social media analysis provides an alternate approach to monitoring and understanding risk perceptions regarding COVID-19 over time. Our current understandings of risk perceptions regarding COVID-19 do not disentangle the three dimensions of risk perceptions (perceived susceptibility, perceived severity, and negative emotion) as the pandemic has evolved. Data are also limited regarding the impact of social determinants of health (SDOH) on COVID-19-related risk perceptions over time. To address these knowledge gaps, we extracted tweets regarding COVID-19-related risk perceptions and developed indicators for the three dimensions of risk perceptions based on over 502 million geotagged tweets posted by over 4.9 million Twitter users from January 2020 to December 2021 in the United States. We examined correlations between risk perception indicator scores and county-level SDOH. The three dimensions of risk perceptions demonstrate different trajectories. Perceived severity maintained a high level throughout the study period. Perceived susceptibility and negative emotion peaked on March 11, 2020 (COVID-19 declared global pandemic by WHO) and then declined and remained stable at lower levels until increasing once again with the Omicron period. Relative frequency of tweet posts on risk perceptions did not closely follow epidemic trends of COVID-19 (cases, deaths). Users from socioeconomically vulnerable counties showed lower attention to perceived severity and susceptibility of COVID-19 than those from wealthier counties. Examining trends in tweets regarding the multiple dimensions of risk perceptions throughout the COVID-19 pandemic can help policymakers frame in-time, tailored, and appropriate responses to prevent viral spread and encourage preventive behavior uptake in the United States.     

A Look at State‐Level Risk Assessment in the United States: Making Decisions in the Absence of Federal Risk Values

State environmental agencies in the United States are charged with making risk management decisions that protect public health and the environment while managing limited technical, financial, and human resources. Meanwhile, the federal risk assessment community that provides risk assessment guidance to state agencies is challenged by the rapid growth of the global chemical inventory. When chemical toxicity profiles are unavailable on the U.S. Environmental Protection Agency's Integrated Risk Information System or other federal resources, each state agency must act independently to identify and select appropriate chemical risk values for application in human health risk assessment. This practice can lead to broad interstate variation in the toxicity values selected for any one chemical. Within this context, this article describes the decision‐making process and resources used by the federal government and individual U.S. states. The risk management of trichloroethylene (TCE) in the United States is presented as a case study to demonstrate the need for a collaborative approach among U.S. states toward identification and selection of chemical risk values while awaiting federal risk values to be set. The regulatory experience with TCE is contrasted with collaborative risk science models, such as the European Union's efforts in risk assessment harmonization. Finally, we introduce State Environmental Agency Risk Collaboration for Harmonization, a free online interactive tool designed to help to create a collaborative network among state agencies to provide a vehicle for efficiently sharing information and resources, and for the advancement of harmonization in risk values used among U.S. states when federal guidance is unavailable.     

Modeling the Cost Effectiveness of Fire Protection Resource Allocation in the United States: Models and a 1980–2014 Case Study

The estimated cost of fire in the United States is about $329 billion a year, yet there are gaps in the literature to measure the effectiveness of investment and to allocate resources optimally in fire protection. This article fills these gaps by creating data‐driven empirical and theoretical models to study the effectiveness of nationwide fire protection investment in reducing economic and human losses. The regression between investment and loss vulnerability shows high R² values (≈0.93). This article also contributes to the literature by modeling strategic (national‐level or state‐level) resource allocation (RA) for fire protection with equity‐efficiency trade‐off considerations, while existing literature focuses on operational‐level RA. This model and its numerical analyses provide techniques and insights to aid the strategic decision‐making process. The results from this model are used to calculate fire risk scores for various geographic regions, which can be used as an indicator of fire risk. A case study of federal fire grant allocation is used to validate and show the utility of the optimal RA model. The results also identify potential underinvestment and overinvestment in fire protection in certain regions. This article presents scenarios in which the model presented outperforms the existing RA scheme, when compared in terms of the correlation of resources allocated with actual number of fire incidents. This article provides some novel insights to policymakers and analysts in fire protection and safety that would help in mitigating economic costs and saving lives.     

Effects of air pollution and weather on the initial COVID-19 outbreaks in United States,Italy, Spain,and China: A comparative study

Contrasting effects have been identified in association of weather (temperature and humidity) and pollutant gases with COVID-19 infection, which could be derived from the influence of lockdowns and season change. The influence of pollutant gases and climate during the initial phases of the pandemic, before the closures and the change of season in the northern hemisphere, is unknown. Here, we used a spatial-temporal Bayesian zero-inflated-Poisson model to test for short-term associations of weather and pollutant gases with the relative risk of COVID-19 disease in China (first outbreak) and the countries with more cases during the initial pandemic (the United States, Spain and Italy), considering also the effects of season and lockdown. We found contrasting association between pollutant gases and COVID-19 risk in the United States, Italy, and Spain, while in China it was negatively associated (except for SO₂). COVID-19 risk was positively associated with specific humidity in all countries, while temperature presented a negative effect. Our findings showed that short-term associations of air pollutants with COVID-19 infection vary strongly between countries, while generalized effects of temperature (negative) and humidity (positive) with COVID-19 was found. Our results show novel information about the influence of pollution and weather on the initial outbreaks, which contribute to unravel the mechanisms during the beginning of the pandemic.     

家族企业海归继承人创业学习过程研究——基于文化框架转换的多案例分析

继承人成长模式是目前中国家族企业理论和实践的热门议题,也是保障和提高家族企业跨代持续发展的首要问题。在家族企业传承和转型的关键时期,作为创业的主力军,家族企业海归继承人的多元文化经历和文化框架转换为其创业学习过程提供了独特资源和路径,本文基于文化心理学的动态建构主义视角,以6个家族企业的海归继承人为研究对象,采用探索性多案例研究方法,通过扎根理论的数据处理程序提炼基于文化框架转换的海归继承人创业学习关键过程要素,包括海外获取性创业学习、创业动机促发、实验性创业学习(直觉和编译创业学习)3个创业学习阶段中,文化构念网络可用性、通达性和情境适用性的构建策略及其与创业学习过程的互动协同机制,试图在家族企业传承背景下构建基于文化框架转换的家族企业海归继承人创业学习过程理论模型,从文化心理学视角解读文化框架转换对家族企业海归继承人创业学习方式、路径选择和创业能力形成的微观作用机制,为家族企业海归继承人这一独特创业群体的成长提供富有前景的答案,为家族企业传承和跨代创业提供启迪和借鉴。     

A Cross‐Cultural Study of Perceived Benefit Versus Risk as Mediators in the Trust‐Acceptance Relationship

Several recent studies have identified the significant role social trust in regulatory organizations plays in the public acceptance of various technologies and activities. In a cross‐cultural investigation, the current work explores empirically the relationship between social trust in management authorities and the degree of public acceptability of hazards for individuals residing in either developed or emerging Latin American economies using confirmatory rather than exploratory techniques. Undergraduates in Mexico, Brazil, and Chile and the United States and Spain assessed trust in regulatory authorities, public acceptance, personal knowledge, and the risks and benefits for 23 activities and technological hazards. Four findings were encountered. (i) In Latin American nations trust in regulatory entities was strongly and significantly (directly as well as indirectly) linked with the public's acceptance of any activity or technology. In developed countries trust and acceptability are essentially linked indirectly (through perceived risk and perceived benefit). (ii) Lack of knowledge strengthened the magnitude and statistical significance of the trust‐acceptability relationship in both developed and developing countries. (iii) For high levels of claimed knowledge, the impact on the trust‐acceptability relationship varied depending upon the origin of the sample. (iv) Confirmatory analysis revealed the relative importance of perceived benefit over perceived risk in meditating the trust‐acceptability causal chain.     

竞争压力、战略变化、企业绩效间的结构关系——我国转型经济背景下的研究

从构建竞争压力、战略变化和企业绩效间的独立假设入手,基于来自全国10省市重要工业行业样本企业的数据,运用结构方程模型对3要素间结构关系进行了验证,主要结论包括:①相对竞争压力等产业环境因素而言,宏观经济因素在我国企业战略变化过程中发挥着更重要的作用,而企业内部要素正成为我国企业战略变化的重要约束条件;②战略变化对企业绩效具有重要影响,经济转型的深刻性和普遍性使得各行业企业依据环境需要进行战略调整对企业的生存和发展具有重要意义;③竞争压力同战略变化一起成为决定企业最终绩效的重要变量,它不但对绩效有直接影响,还会通过战略变化对其产生间接影响。     

零售商对供应商的信任、控制机制使用和价值创造之间的关系研究

面对日益激烈的竞争环境,零售企业越来越注重与其供应商建立长期稳定的合作关系以应对挑战.本文研究的是垂直渠道关系中零售商对供应商的信任、控制机制的使用以及从与供应商关系中获得的关系价值之间的关系.通过对中国家电业414对零售商-供应商关系的问卷调研数据的分析,运用因子分析及结构方程的方法,验证了我们提出的概念模型及假设.本文研究结论表明零售商对供应商的不同水平的信任通过不同的控制机制的使用能为零售商带来不同的关系价值.     

Are Large Differences in “Lifesaving” Costs Justified? A Psychometric Study of the Relative Value Placed on Preventing Deaths

Government actions to reduce risks to health have varied greatly in their cost per death prevented, frequently by 10-fold or even 100-fold. This research asks whether disparities of this magnitude are justified by citizens' preferences abut the relative value of reducing deaths from different hazards. Four samples were asked to rank the relative priority of preventing deaths through 8 realistic programs, each addressed to a different hazard, and then to rate how large the differences in spending should be. Subjects were not asked to give absolute values on preventing deaths and were asked only for their relative valuation of the benefits of preventing a death, not to weigh the benefits and costs or to determine an optimal spending level. We found that in all samples the median respondent valued his top-rated program 5 to 6 times more than his bottom-rated program. However, because individuals disagreed upon the relative priority for different programs, the aggregated rankings barely showed more than a 2-fold difference in the amounts that should be spent. Thus, for the important programs considered by these samples, a large variation in spending does not appear to be justified on the basis of differentials in the values placed on preventing different types of deaths. A more deliberative methodology like the one used here appears fruitful for providing insights to policymakers about preferences in this sensitive area.