Functional and emotional traits of corporate social media message strategies: Behavioral insights from S&P 500 Facebook data

Drawing from literature regarding public engagement, the Elaboration Likelihood Model (ELM), computer-mediated communication research, and emotion psychology, this study examines the effects of companies’ social media communication strategies on public engagement behaviors as indexed by post likes, shares, and comments. Specifically, it investigates how corporate Facebook posts’ functional traits (functional interactivity and vividness) and emotional traits (emotion presence, valence, and strength) impact public engagement online. Through data mining and computer-assisted sentiment analysis of 33,379 posts from 106 Standard & Poor 500 companies’ Facebook accounts, this study finds a negative effect of functional interactivity but a positive effect of vividness on engagement. It also shows that emotional traits overall yield stronger public engagement outcomes. Two-way interactions between emotional and functional features are also detected. Theoretical and practical implications are discussed.     

The quest for legitimacy and the communication of strategic cross-sectoral partnership on Facebook: A big data study

Nowadays, many wicked problems such as environmental issues require organizations from multiple sectors to form cross-sectoral alliances. Cross-sectoral alliance networks can transfer resources and signal affiliations and value alignment between strategic partners. The communication of cross-sectoral alliances is a form of CSR communication that serves organizations’ strategic goals and objectives. Drawing on the literature on digital CSR communication and legitimacy theory, this article examines which legitimacy needs shape the formation of cross-sectoral ties on Facebook in addressing environmental and sustainable development issues in the United States. Combining data-mining, text-mining, social network analysis, and exponential graph modeling, this research investigates the structure of a network among 3071 organizations across multiple sectors. Findings show that organizations’ cross-sectoral tie formation is mainly driven by social legitimacy and alliance legitimacy needs.     

股权质押与市值管理:基于中国沪深股市A股上市公司的实证检验

本文以沪深两市上市公司为研究对象,基于2012-2016年的样本数据,运用STATA14探讨了上市公司发生股权质押后,相较不存在股权质押的公司是否会更有可能进行市值管理,以及股权质押、股权激励和市值管理三者之间的传导机制。基于相关数据的实证结果显示,控股股东在发生股权质押行为后,为了避免股价发生异常波动或者持续下跌从而引发公司治理层面的风险,相较不存在控股股东股权质押情形的公司的确更有可能进行市值管理;进一步分析发现,股权质押后,控股股东会通过股权激励这种手段来进行市值管理。     

Validation of the Learning Transfer System Inventory (LTSI) in the Korean corporate context

Lack of a valid instrument to measure learning transfer predictors has been the major obstacle hindering Human Resource Development (HRD) professionals from moving forward. This problem is one of the lingering HRD issues in South Korea, in which human resources have been strategically emphasized as a critical asset due to the scarcity of natural resources. To address this issue, this study aims at testing the validity and reliability of the data collected with the Korean Learning Transfer System Inventory (LTSI) Version 4. A sample of 753 managers from 16 Korean industries was divided into two subsamples for exploratory and confirmatory factor analyses. Reliability and the effect of common method variance on the factor structure were examined, with the results suggesting that the LTSI is valid for use in the Korean industry.     

Marketing as an Investment in Shareholder Value

We present resource‐based and capability‐based arguments of marketing investment intensity to offer a strategic view of marketing as an investment in shareholder value. We find that marketing investment intensity has a U‐shaped quadratic effect on shareholder value creation (Tobin's q) that calls for marketing investment to be protected and increased, not surrendered. We show how marketing investments interact with investments in R&D, human capital and operations to reveal how strategic co‐investments can alter the shareholder value of marketing. Finally, we show how competitive intensity and failings in the firm's investment productivity (its ability to convert investment expenditure into sales) point to malaise in the firm's own strategic architecture as a fault for perceived poor returns from marketing investments. Our findings suggest that marketing investment should not be scapegoated when its contributions to shareholder value are not as expected. When invested in strategically and in combination with other investments, marketing can unlock exciting improvements in shareholder value.     

人民币汇率的双成分混合波动率模型

汇率波动性预测在金融和计算领域一直受到广泛关注,然而由于缺乏可以捕捉汇率波动动态变化的预测模型,高频汇率的波动率预测至今没有得到彻底的研究.文章提出了基于神经网络的双成分混合汇率波动率模型,该模型利用低通Hodrick-Prescott滤波器将已实现波动率分解为长期分量和短期分量,使用自回归神经网络模拟长期分量,一阶自回归过程模拟短期分量,通过实证分析确定自回归神经网络参数(10个隐神经元和四阶滞后输入神经元),以6种主要高频率汇率(英镑/人民币,美元/人民币,澳元/人民币,欧元/人民币,日元/人民币,和瑞士法郎/人民币),在5 h(d)、20 h(d)、100 h(d)、200 h(d)、360 h(d)和500 h(d)的预测区间构建1 h和1 d已实现波动率,并与双成分GARCH模型、EGARCH模型、四阶滞后自回归神经网络模型3个基准模型进行对比,分析模型的预测性能,实验评估表明,提出的混合预测模型在所有预测的范围内均显著地优于传统人民币汇率波动模型.     

湖北省旅游业发展战略构想与对策

湖北是旅游资源大省 ,具有发展旅游业的战略优势。湖北应坚持大旅游发展战略、重点发展战略、精品名牌战略、区域联盟战略、国际化战略和可持续发展战略 ,并采取一系列相应对策 ,将其建成旅游大省、旅游强省 ,从而实现“旅游兴鄂”的战略目标。     

《汉语大词典》引《周易大传》语词指瑕

《周易大传》中的复音词具有相同于经文所处时代文化的精神特质和异彩,本文对《汉语大词典》引《周易大传》语词之释义可商者、书证滞后者中的一部分进行考释,希望能对汉语词汇研究和辞书编纂提供语料和参考。     

西方启蒙知识分子与启蒙的权力

西方启蒙知识分子伴随着市民社会的兴起逐渐取代中世纪教士成为思想领袖。由于启蒙知识分子形成了对自己身份的认同,所以启蒙知识分子被看作是现代西方知识分子的诞生。知识与权力的同构关系赋予启蒙知识分子以革命领导者、民众教育者、国家政权实施者的角色。然而,启蒙的权力也是有其限度的,主要表现为启蒙者与被启蒙者之间的支配与被支配的二元结构和启蒙知识分子的有限的启蒙。     

外语专业研究生培养模式改革浅析

研究生教育是高等教育的重要组成部分,随着经济全球化和中国加入世贸组织,要求外语专业研究生教育为经济和社会发展提供有创新意识和实践能力的人才,同时也对现行的外语研究生培养质量提出了新要求。以此针对外语专业研究生教育所面临的新问题,提出了应当从培养目标、培养模式、课程设置及推进研究生教育国际化等方面对我国传统研究生培养模式进行改革的建议,以期进一步提高外语专业研究生的培养质量。