顶级券商的明星分析师荐股评级更有价值么?——基于券商声誉、分析师声誉的实证研究

利用2003—2009年《新财富》杂志评选作为分析师声誉和券商声誉代理变量,结合超过54000条分析师推荐评级样本,从投资者角度检验了券商声誉、分析师声誉与分析师荐股评级价值之间的短期关系和长期关系,研究结果发现:在评级公告日,"买入/增持","中性","减持/卖出"评级分组的超常收益率与分析师声誉和券商声誉之间存在不同的影响规律。通过长期关系检验还发现牛市阶段,非顶级券商明星分析师"买入/增持"评级的投资价值高于顶级券商明星分析师,但在熊市阶段,非顶级券商非明星分析师"买入/增持"评级投资价值最高,顶级券商明星分析师投资价值最低。顶级券商和非顶级券商的明星分析师"中性"评级投资价值低,投资者容易错失投资机会。顶级券商明星分析师"减持/卖出"评级投资价值最高;非顶级券商明星分析师"减持/卖出"评级投资价值最低。最后提出了维护分析师证券研究报告独立性的四条政策建议。     

禅宗兴起与陶诗在齐梁中声誉倍增因缘考

沈约于齐永明六年撰成的《宋书》不设文苑传,但以《谢灵运传论》概述两汉魏晋迄于南朝刘宋的文学概况,而只字不提陶渊明所取得的文学成就。但昭明太子编集《陶渊明集》,于序中极力推崇陶渊明诗品和人品。由此可以看出,陶渊明在诗坛的地位以永明年间为前后分界线。自永明而后,陶诗声誉日益隆起,至宋代苏轼和陶诗出而登峰造极。而这一切是与陶渊明诗歌中的禅韵和佛教禅宗的兴起密不可分的。     

Pre-recovery emotions and satisfaction: A moderated mediation model of service recovery and reputation in the banking sector

This study examines the mediating role of service recovery judgments between pre-recovery emotions and post-recovery satisfaction, and investigates the role of firm reputation in this mediation context. Using a moderated mediation framework, the authors test the model with data from 366 customers who experienced a banking service failure and complained to a third party. The results show that distributive, procedural, and interactional justice dimensions mediate the relationship between pre-recovery emotions and satisfaction. Firm reputation moderates the relationship between emotions and satisfaction via distributive and interactional justice, but not via procedural justice. This study provides evidence for the notion that pre-recovery emotion is an antecedent of service recovery process and firm reputation plays an essential role in this process.     

Who should we get? How employer reputation shapes network hiring in Dutch professional football

Despite a vast literature examining networks in labor markets, it remains unclear how employers differ in their use of networks during recruitment. This study examines network hiring among high and low reputation organizations in Dutch professional football. Within-employer within-transfer window fixed effects conditional logistic regression models demonstrate that networks increase the likelihood that low reputation employers hire workers, but no network effect was found among high reputation employers. Qualitative interviews with employees suggest that low reputation employers identify their search pool and gather hard-to-observe information about potential hires through networks, while high reputation employers do not rely on networks for their search pool and gather information through observing workers for prolonged periods of time     

The effects of media slant on public perception of an organization in crisis

This study investigates the effects of mainstream media coverage on public perception of an organizational program in crisis. A survey was administered via Qualtrics using a web-based network sampling approach. The survey contained two mainstream media clips, one slanted negatively and the other slanted positively regarding an incident within the organizational program. Participants viewed both clips and answered questions regarding their perceptions of the program immediately after viewing each clip. Order of clip presentation was counterbalanced. Results of a mixed-model ANOVA revealed main effects for both media slant and presentation order on perceptions of the program; no statistically significant interaction was found between presentation order and media slant. Recommendations for practice, limitations and directions for future research are provided.     

The evaluation of workers by customers as a method of control and monitoring in firms: Digital reputation and the European Union's General Data Protection Regulation

As a method of surveillance and monitoring, the evaluation of workers by customers and employers and the disclosure of the results pose a series of challenges for the current legal framework of the European Union (EU). Employees subject to such evaluations are exposed to a far more intense and wider degree of monitoring of their work than traditional workers. The phenomenon arises from the adoption of a customer perspective, seeking to make work observable at all times, without any cost to firms. In this light, the author analyses the EU's General Data Protection Regulation, which establishes very specific restrictions when requesting and disclosing information about workers.     

神农架的美誉度调查研究

神农架地处渝鄂边陲的鄂西北,是世界中纬度地带生态保存完好的宝地,以其神奇俊秀、原始神秘而成为名扬中外的旅游胜地。为了解游客对神农架旅游区的自然环境、旅游设施、服务质量、拥挤感受、信息、价格六个方面的印象和评价,2006年5月1日至12日进行了美誉度调查。调查样本中男性占65.2%,女性34.8%,19-45岁的中青年游客占总数的78.4%,大专及本科以上文化程度者占62.9%。结果显示:初次到访者占游客总数的80.8%,第二次到访10.6%,第三次到访3.6%,四次和四次以上者占5.0%;游客最满意的是神农架的自然环境,92.77%的游客认为神农架自然环境优美,85.43%的游客认为神农架的生态环境保护很好;游客拥挤感受评价居第二位,70.2%的游客没有感觉拥挤;对服务质量的评价居第三位,73.9%的游客认为工作人员的态度是友好的;对神农架的信息服务感受排第四,59.0%的游客基本满意;对旅游设施的满意度排第五;游客对神农架的价格满意度最低,普遍认为神农架多次收门票、旅游商品同质不同价、餐饮食宿价格太高。     

Emotional crisis communication

Organizational crises are usually highly emotional experiences for both organizations and stakeholders. Hence, crisis situations often result in emotionally charged communication between the two parties. Despite the attention of organizations and scholars to the emotions of stakeholders during crises, little is known about the effects of the emotions communicated by organizations on corporate reputations. Through the use of vignettes, this experiment reveals that besides crisis-response strategy (diminish vs. rebuild), the communicated emotion (i.e., shame and regret) has a positive effect on corporate reputation. Mediation analyses showed that this effect of communicated emotion could be explained by the public's (negative) affective as well as cognitive responses (i.e., account acceptance). This study confirms that emotional signals embedded in crisis responses may affect corporate reputations by reducing feelings of anger and by increasing the acceptance of the organizational message. In doing so, this study provides a starting point for further exploration of the effectiveness of other emotions in crisis communication.     

Publish or Perish: How Are Research and Reputation Related?

A study of twenty-seven fields in 350 highly ranked universities examines the relationship between reputation and rank. We find that many metrics associated with research prowess significantly correlate to university reputation. However, the next logical step– looking at the relationship that links different academic fields with the reputation of the university–did not always offer the expected results. The phrase “publish or perish” clearly has very different meanings in different fields.     

基于声誉考虑的高管和控股股东策略演化博弈研究

在委托代理理论的框架下,基于中国上市公司单一控股股东特征的股权结构,分析中国上市公司高管与控股股东的委托代理问题对中国公司的治理有重要的作用.在高管与控股股东有限理性的假设前提下,文章引入了声誉激励机制的动态模型,运用演化博弈理论分析对高管实施激励过程中,高管是否努力工作的策略选择和控股股东是否选择监督的策略选择的互动机制,揭示了基于声誉考虑的高管和控股股东在委托代理关系中的演化进程,并对影响该动态系统稳定的关键因素进行分析.研究结果表明,演化博弈不存在最优的稳定策略,但存在三个局部稳定策略.文章最后提出通过结合股权和股票期权等显性激励,加大对有偷懒行为的高管处罚力度,通过聘用高声誉的高管发挥声誉的隐性激励作用等方法使演化博弈的策略向公司委托代理机制所期望达到的最优目标收敛.