Older and Wiser: How CEOs’ Time Perspective Influences Long‐Term Investments in Environmentally Responsible Technologies

Most theories of corporate governance argue that chief executive officers (CEOs) take less risk as they near the end of their career, and therefore are less likely to make major investments. This prediction is based on decisions related to firm‐specific benefits; however, it may not be generalizable to decisions that involve broad societal goals. In terms of societal investments, CEOs with a longer time perspective may be more likely, rather than less likely, to invest. In this paper, we argue that a CEO's future time perspective is fostered by shorter career horizons, longer tenures, higher organizational ownership and less short‐term compensation. We test these hypotheses on 150 observations from the US investor‐owned electric power generation sector over a three‐year unbalanced sample (64.3% of the population). We applied random‐effects generalized least squares (GLS) estimations to test our hypotheses, and found support for three out of four hypothesized relationships.     

Comments on “The power of monitoring: how to make the most of a contaminated multivariate sample”

These are comments on the invited paper “The power of monitoring: How to make the most of a contaminated multivariate sample” by Andrea Cerioli, Marco Riani, Anthony Atkinson and Aldo Corbellini.     

The Twitter games: media education,popular culture and multiscreen viewing in virtual concourses

Interactive media and virtual environments give rise to transmedia and multiscreen viewing in a new popular and participatory culture. This in turn requires a new type of critical, reflective media education. This article reviews expert opinions on the educational potential of The Hunger Games (THG) and the use of Twitter during the viewing of films by young audiences. The study has the twofold goal of analysing whether the tweets include the topics of ideology and values mentioned in the selected articles and whether the conversations help build knowledge of the subjects that, according to the experts, are discussed in the literary trilogy. The method, based on discourse analysis, is twofold as well, comprising, on one hand, the discussion of 61 selected academic papers on THG and, on the other, 6000 tweets posted by youngsters while watching the films in the trilogy shown on TV. The tweets were analysed using the ‘coding and counting’ technique in computer-mediated discourse analysis. The results show a great chasm between academic or educational perspectives and what youngsters see in the films. Twitter interactions show that the virtual environments where these interactions take place are mere virtual concourses rather than affinity or learning spaces. This draws attention to the need for a new type of media education which not only includes the popular culture in formal education environments, but also uses the virtual concourses where youngsters gather around media products to transform mere coexistence into convergence of interests based on the meaning of these products.     

Mutual halo effects in cultural production: the case of modernist architecture

Previous research has suggested that in cultural production fields the concatenation of eminence explains success, defined as influence and innovation. We propose that individuals in fields as diverse as philosophy, literature, mathematics, painting, or architecture gain visibility by cumulating the eminence of others connected to them across and within generations. We draw on interaction ritual chain and social movement theories, and use evidence from the field of modernist architecture, to formulate a model of how networks of very strong ties generate motivations and emotional enthusiasm, change reputations, and form collective movements that over time transform the structure of cultural fields. Because major aesthetic innovations break sharply with older styles, they need very strong group solidarity over a long period of time to propagate a new standard of practice. We propose mutual halo effects, i.e., the reciprocal reinforcement of upstream and downstream prestige on a given individual node, as the key factor accounting for success in a cultural production field. We discuss the relevance of these results for building a model of influence and innovation in cultural production fields in which networks??reshaped by shifting technological, political, and economic conditions??trigger new styles.     

Psychometric Properties of a Portuguese Version of the Subjective Happiness Scale

The Subjective Happiness Scale (SHS) constitutes an instrument for assessing subjective happiness. This study aims to present the validation of the SHS in a Portuguese adult population. A large representative sample (1,017 participants), from five different age groups was considered. Configurational invariance of the unidimensional structure of the scale was tested through multi-group confirmatory factorial analysis, and reliability and criterion-validity were investigated. The results support the single factorial structure and reliability of the SHS. Furthermore, the SHS correlated positively with the Satisfaction with Life Scale, thus supporting its criterion validity. Therefore, the Portuguese version of the SHS is a valid instrument to use with an adult Portuguese Sample.     

Effortful Bayesian updating: A pupil-dilation study

Journal of Risk and Uncertainty - When confronted with new information, rational decision makers should update their beliefs through Bayes’ rule. In economics, however, new information often...     

Local dimension reduction of summary statistics for likelihood-free inference

Statistics and Computing - Approximate Bayesian computation (ABC) and other likelihood-free inference methods have gained popularity in the last decade, as they allow rigorous statistical inference...     

A Bayesian approach for misclassified ordinal response data

ABSTRACT

Motivated by a longitudinal oral health study, the Signal-Tandmobiel^® study, a Bayesian approach has been developed to model misclassified ordinal response data. Two regression models have been considered to incorporate misclassification in the categorical response. Specifically, probit and logit models have been developed. The computational difficulties have been avoided by using data augmentation. This idea is exploited to derive efficient Markov chain Monte Carlo methods. Although the method is proposed for ordered categories, it can also be implemented for unordered ones in a simple way. The model performance is shown through a simulation-based example and the analysis of the motivating study.     

How does the combination of R&D and types of knowledge matter for patent propensity?

This paper examines whether the combined effects of R&D efforts and the types of knowledge obtained from the invention process determine patent propensity. With this aim, we investigate a unique, manually collected sample of firms and the Spanish and European Patent Offices to analyze how the combination of R&D and knowledge codifiability, observability and simplicity influence the patent decision. Our results contribute to the literature and assist R&D managers by showing that codified knowledge has a positive impact on patent propensity. Furthermore, we find that knowledge observability and simplicity only influence patent propensity when they are combined with internal R&D expenditures.     

University environment and entrepreneurial intention: the mediating role of the components of the theory of planned behaviour / El entorno universitario y la intención emprendedora: el papel mediador de los componentes de la teoría de la acción planificada

Entrepreneurship contributes to job creation and economic development. Thus, it is important to promote entrepreneurial initiatives; universities play a key role in this regard. The psychosocial perspective can contribute a great deal to studying the antecedents that lead a person to become an entrepreneur, with the theory of planned behaviour (TPB) being the theoretical framework used the most to predict entrepreneurial intention. Based on the data collected in Spain as part of the international GUESSS project (Global University Entrepreneurial Spirit Students’ Survey) with a sample of 9,753 students, the influence of the university environment, the entrepreneurial environment and the perceived risk of entrepreneurship on entrepreneurial intention are analysed, both directly and as mediated by the three components of the TPB (attitudes towards entrepreneurship, subjective norms and entrepreneurial self-efficacy). The results show that the university environment is the antecedent with the greatest effect on entrepreneurial intention; therefore, it is recommended that entrepreneurship be promoted through initiatives and educational programmes in the university environment.