Important Implications For Stakeholders Research Articles

To tell or not to tell about bullying-New insights from the study on the perceptions of criminal sanctioning, anticipation of school punishment, agency, and trust toward school staff.

The primary aim of this study was to determine whether perceptions of criminal sanctioning and school punishment predict students' willingness to report different types of bullying (material, physical, sexual, verbal, relational, and cyberbullying). An online survey was conducted with secondary school students (n=1092) as participants. Traditionally included predictors (trust toward school staff, cost of reporting bullying, gender, and school agency) were also incorporated into a multiple linear regression analysis. The perception of criminal sanctioning for a particular type of bullying was a significant predictor of the willingness to report a given type of bullying, whereas anticipation of school punishment was relevant only in the case of cyberbullying. Trust toward school staff and gender were also significant predictors of willingness to report any type of bullying. School agency helped predict the willingness to report any kind of bullying except cyberbullying. Surprisingly, the costs of reporting bullying were relevant only in the case of material bullying. These results have important implications for stakeholders and school administration in identifying unreported bullying, developing and implementing anti-bullying policies, and introducing programs aimed at improving students' legal awareness.

To tell or not to tell about bullying-New insights from the study on the perceptions of criminal sanctioning, anticipation of school punishment, agency, and trust toward school staff.

The primary aim of this study was to determine whether perceptions of criminal sanctioning and school punishment predict students' willingness to report different types of bullying (material, physical, sexual, verbal, relational, and cyberbullying). An online survey was conducted with secondary school students (n=1092) as participants. Traditionally included predictors (trust toward school staff, cost of reporting bullying, gender, and school agency) were also incorporated into a multiple linear regression analysis. The perception of criminal sanctioning for a particular type of bullying was a significant predictor of the willingness to report a given type of bullying, whereas anticipation of school punishment was relevant only in the case of cyberbullying. Trust toward school staff and gender were also significant predictors of willingness to report any type of bullying. School agency helped predict the willingness to report any kind of bullying except cyberbullying. Surprisingly, the costs of reporting bullying were relevant only in the case of material bullying. These results have important implications for stakeholders and school administration in identifying unreported bullying, developing and implementing anti-bullying policies, and introducing programs aimed at improving students' legal awareness.

Economic uncertainty and stock market asymmetric volatility: analysis based on the asymmetric GARCH-MIDAS model

PurposeWe aim to clarify the effect of economic uncertainty on Chinese stock market fluctuations. We extend the understanding of the asymmetric connectedness between economic uncertainty and stock market risk and provide different characteristics of spillovers from economic uncertainty to both upside and downside risk. Furthermore, we aim to provide the different impact patterns of stock market volatility following several exogenous shocks.Design/methodology/approachWe construct a Chinese economic uncertainty index using a Factor-Augmented Variable Auto-Regressive Stochastic Volatility (FAVAR-SV) model for high-dimensional data. We then examine the asymmetric impact of realized volatility and economic uncertainty on the long-term volatility components of the stock market through the asymmetric Generalized Autoregressive Conditional Heteroskedasticity-Mixed Data Sampling (GARCH-MIDAS) model.FindingsNegative news, including negative return-related volatility and higher economic uncertainty, has a greater impact on the long-term volatility components than positive news. During the financial crisis of 2008, economic uncertainty and realized volatility had a significant impact on long-term volatility components but did not constitute long-term volatility components during the 2015 A-share stock market crash and the 2020 COVID-19 pandemic. The two-factor asymmetric GARCH-MIDAS model outperformed the other two models in terms of explanatory power, fitting ability and out-of-sample forecasting ability for the long-term volatility component.Research limitations/implicationsMany GARCH series models can also combine the GARCH series model with the MIDAS method, including but not limited to Exponential GARCH (EGARCH) and Threshold GARCH (TGARCH). These diverse models may exhibit distinct reactions to economic uncertainty. Consequently, further research should be undertaken to juxtapose alternative models for assessing the stock market response.Practical implicationsOur conclusions have important implications for stakeholders, including policymakers, market regulators and investors, to promote market stability. Understanding the asymmetric shock arising from economic uncertainty on volatility enables market participants to assess the potential repercussions of negative news, engage in timely and effective volatility prediction, implement risk management strategies and offer a reference for financial regulators to preemptively address and mitigate systemic financial risks.Social implicationsFirst, in the face of domestic and international uncertainties and challenges, policymakers must increase communication with the market and improve policy transparency to effectively guide market expectations. Second, stock market authorities should improve the basic regulatory system of the capital market and optimize investor structure. Third, investors should gradually shift to long-term value investment concepts and jointly promote market stability.Originality/valueThis study offers a novel perspective on incorporating a Chinese economic uncertainty index constructed by a high-dimensional FAVAR-SV model into the asymmetric GARCH-MIDAS model.

Apples to advocacy: Evaluating consumer preferences for hard cider policies

AbstractHard cider is a sector of a maturing craft beverage industry that continues to experience growth in the United States. Cider is also experiencing challenges, however, such as competition from other alcohol markets, changing consumer preferences, the supply chain, and inflationary pressures. National policy changes may help promote more optimal outcomes for this sector, but public support is important to policy formation. This study uses survey data from a best-worst scaling experiment of consumers in four leading cider-producing states (Michigan, Washington, Wisconsin, and Vermont) to understand preferences toward ten broad cider policy initiatives. The results of multinomial logistic modeling reveal that consumers prefer policies mandating ingredients, nutrition facts, and allergen labeling across all ciders. The least preferred policy initiatives include allowing producers to use vintage on labeling and funding regional cider development. These results have important implications for stakeholders across the industry, including the benefits of labeling disclosures in marketing and the need to improve public awareness of barriers to cider industry development.

Autoregressive Distributed Lag Modeling of Climate and Non-climatic Determinants Affecting Cereal Production: Empirical Evidence from Somalia

This study investigates the impact of climate and non-climate factors on cereal production in Somalia from 1990 to 2019. The study used the Autoregressive Distributed Lag (ARDL) modeling approach to analyze the effect of CO2, temperature, rainfall, land under cereal production, and rural population on cereal production. The study employed the ARDL model to determine the long-run and short-run effects of the variables. The results indicate that all variables negatively impacted cereal production, except for land under cereal production, which had a positive effect on cereal production in both the short and long run. These findings suggest that policymakers should prioritize investment in land management practices to increase cereal production in Somalia. The study's results have important implications for stakeholders in the agricultural sector, highlighting the need for sustainable land use policies and climate change adaptation measures to ensure the country's food security.

Road rule enforcement and where to find it: An investigation of applications used to avoid detection when violating traffic rules

Introduction: One of the primary countermeasures in place to prevent road rule violations is legal enforcement, yet there are numerous applications that can undermine such efforts by notifying drivers of enforcement locations. However, the capabilities of these applications and how they can impact offending behavior is currently unknown. Method: Two studies were conducted to understand which of these applications are being used by drivers and how these applications are impacting road rule violations. Study 1 consisted of a content analysis that involved searching the Google Play Store and Apple iTunes Store for applications that could be used to avoid road rule violations using pre-determined keywords. Meanwhile, Study 2 consisted of 468 licensed Australian drivers (54.5% males) over the age of 17 years (Mage = 35 years) who completed a survey. Results: A total of 73 applications were identified for Study 1, with most of the applications displaying speed camera locations. It was found that applications that notify drivers of traffic enforcement locations are widely prevalent, can be used on a variety of interfaces and include numerous additional features. Study 2 found that those who use the applications were more willing to speed than those who do not use the applications, while there was no difference in phone use while driving between those who do and do not use the applications. Practical Applications: The findings have important implications for stakeholders, policy, and future research. For example, it is suggested that specific functions of these applications need to be regulated to reduce road rule violations and crash risk. Meanwhile, enforcement initiatives need to evolve at a faster rate to keep up to date with the changing technology that can undermine them.

신용등급과 기업의 혁신활동

This study examines the impact of credit ratings on corporate innovation activities. A sample of domestic securities-listed companies is selected, and changes in innovation activities are investigated when firms exhibit high sensitivity to credit ratings. Credit rating data from December settlement companies, spanning the period from 2002 to 2019, excluding the financial industry, is employed. A total of 2,179 company-year observations are used, which include corporate patent data as a proxy for measuring innovation performance, to examine the relationship between credit ratings and innovation activities. Furthermore, the study analyzes how these relationships vary across high-tech and non-high-tech industries, as well as investment ratings and speculative ratings.
 The empirical analysis reveals a significant positive relationship between the sensitivity of firms to credit ratings and their innovation activities. Specifically, firms that are more sensitive to credit rating downgrades show an increase in innovation activities, while no significant results are found for credit rating upgrades. This suggests that firms with a higher likelihood of credit rating downgrades are more likely to actively pursue innovation activities to maintain their current credit rating. Moreover, this asymmetric relationship between credit ratings and innovation is more pronounced in high-tech industries compared to non-high-tech industries, and in investment-rated firms compared to speculative-rated firms. Based on these empirical findings, this study provides important implications for stakeholders and financial market participants regarding the relationship between credit ratings and innovation.

The Influence of Environmental, Social, and Governance (ESG) Practices on US Firms’ Performance: Evidence from the Coronavirus Crisis

This study explores the influence of total and individual ESG practices and the coronavirus crisis on US firm performance (FP). A large and recent sample of 406 US firms that adopted ESG issues during 2016–2020 was used. This study uses the generalized least-squares (GLS) regression estimator, the dynamic analysis technique, and robustness tests. The results indicate that firms with heightened ESG practices have better performance measures. In most cases, the results suggest that firms with heightened environmental, social, and governance performances have better performance measures. The results suggest that the coronavirus crisis negatively affected FP measures. In addition, the analyses of the differences suggest significant distinctions in FP due to the coronavirus crisis. This study’s findings have important implications for stakeholders. Managers could benefit from the results of this examination by recognizing the status of ESG practices and FP before and during the coronavirus crisis and identifying the linkage between the fulfillment of ESG responsibilities and FP. This study provides noteworthy practical implications that could enable managers to develop strategies and policies for adopting and enhancing ESG practices to achieve the best performance. Furthermore, the results could influence trading processes as investors and financiers pursue attractive financial returns from investments in businesses concerned with ESG issues.

When corporate culture matters: The case of stakeholder violations

This study examines whether and how a strong corporate culture influences stakeholder violations. Using a longitudinal sample of monetary penalties imposed on US-listed firms for stakeholder violations, I find evidence that a strong corporate culture is significantly and negatively associated with such violations. This outcome remains robust to a series of robustness and endogeneity tests, including the application of the generalized method of moments (GMM), entropy balancing, and propensity score matching (PSM) estimation. The channel analysis evidence implies that information asymmetry is a possible mechanism through which a strong corporate culture is associated with stakeholder violations. A cross-sectional analysis demonstrates that the documented association between strong corporate culture and stakeholder violations is stronger for companies with weak external monitoring. Additionally, the negative association between strong corporate culture and stakeholder violations varies across violation types and cultural dimensions. This study contributes to the ongoing discourse on the role of informal corporate governance mechanisms (corporate culture) in mitigating corporate stakeholder violations. Finally, it has important implications for stakeholders, including policymakers, regulators, and practitioners, intending to promote responsible business practices.

41. Defining Predictors of Academic Productivity in Plastic Surgery Residency: A Bibliometric Analysis of Research Experiences Throughout Training

Background: It is likely that the importance of research experience in plastic and reconstructive surgery residency candidates will increase as the Step 1 exam and medical school rotations transition to pass/fail scoring. Institutional characteristics in undergraduate and graduate medical education that may influence academic productivity have not been collectively explored prior to this study. This study aims to assess predictors of academic productivity in residency, including medical school academic productivity, graduate institutional characteristics, and career intentions. Methods: This study utilizes a retrospective correlational study design to examine associations between academic history and research productivity during residency for chief residents of 2019 and 2020 of integrated programs. Background characteristics such as the following were collected for each resident: dedicated research time during medical school and residency, gap year after medical school, completion of other degrees, completion of fellowship, and academia versus private practice. Variables such as the following were collected to measure productivity: number of publications during medical school, number of publications during residency, and h-index. Descriptive statistics and linear regressions were generated to assess associations between medical school-related variables and residency-related variables with measures of academic productivity. Results: Overall, there were 221 graduates included, 95 (43.0%) of which were class of 2019 and 126 (57.0%) of which were class of 2020. The number of publications while in medical school and h-index calculated at the end of residency was positively associated with dedicated research time in medical school (coefficient=0.74, p=0.000; coefficient=2.96, p=0.002). For h-index calculated at the end of residency, having dedicated medical school research time was positively related and statistically significant (coefficient=2.96, p=0.002). Conclusion: The findings demonstrate that dedicated research time during medical school was an independent predictor of the number of publications and h-index by the end of residency, markers of quality and quantity of academic productivity. The study demonstrates that dedicated research time included in mandatory curricula shows impact, while optional research time, such as during gap years, does not. The findings have important implications for stakeholders in graduate medical education, including those considering taking extra research years and those looking to recruit candidates with academic potential.

How Do State-Owned and Private-Owned CVC Differ in Nurturing Innovation in China?

We investigate how state-owned corporate venture capital differs from privately owned corporate venture capital in fostering innovation among startups. Based on the data of Chinese A-share listed companies and the startups in their portfolios that they invested in between 2009 and 2018, we find that startups backed by state-owned corporate venture capital are less innovative than startups backed by privately owned corporate venture capital. Using a two-stage least-squares analysis yields the same results. Further, we find evidence consistent with two potential mechanisms: Investors of state-owned corporate venture capital provide weaker technical support and are less tolerant of failure. These results have important implications for stakeholders, management, and policy makers who care about incentivizing young and rapidly growing companies to innovate more effectively.

The Importance of Neighborhood Context and Gender on International Students' Fear of Crime in Istanbul.

Although fear of crime is an important issue for international students in a host country, this issue has not been explored in Turkey. The current study aims to fill this gap with data from a sample of 377 international students from a large urban university in Istanbul. The current study applies the incivilities thesis to fear of crime by including individual-level variables, perceived safety, and the perceived crime problem in Istanbul. The structural equation model (SEM) results show that social and physical incivilities do not mediate the relationship between international students' demographic characteristics and fear of crime. The findings indicate that gender is one of the important variables shaping internationals students' fear of crime and the perceived crime problem in Istanbul. By highlighting the importance of investigating international students' fear of crime, the study has important implications for stakeholders in host societies.

Methodology for defining homogeneous water bodies for management purposes

European legislation requires monitoring of toxic algae in marine areas where shellfish are harvested for consumption. Monitoring assumes the existence of homogeneous water bodies, the definition of which have important implications for stakeholders and consumers. Yet, the definition of homogeneous water bodies remains unclear. Here we present a methodology to divide coastal and estuarine waters into homogeneous water bodies to monitor toxic algae. The proposed method is mainly based on water transport, and secondarily on oceanographic characteristics; salinity and sea surface height. We apply the methodology to the Limfjord in Denmark and demonstrate its usefulness in areas with a complicated coastal morphology. The oceanographic descriptors applied in the method are standard outputs from coastal hydrodynamical models. Provided that validated and high resolution model output is available for a given area, the technique is thus adaptable to other morphologically and oceanographically complicated estuarine and coastal areas where toxic algae monitoring is necessary.

Principals’ Perceptions of Independence Mission Schools in the Catholic Archdiocese of Philadelphia

This study is a contribution to a new model of Catholic education that has emerged in the Catholic Archdiocese of Philadelphia, USA in the past eight years. The primary purpose of the research was to understand the experiences and perceptions of principals of the establishment and ‘mission’ of Independence Mission Schools (IMS) in the Archdiocese of Philadelphia. The study was approached qualitatively and designed as a case study. Using a sample of nine IMS principals, data was collected through interviews and analyzed thematically. The study found that there is great value for Catholic education. The study also unearthed that the principals of these institutions have deep understanding of the mission and vision of the IMS including the following: That the IMS system provides a model of Catholic education, a viable alternative to other private and public education providers; provides holistic education for the poor, ensures continuity in Catholic education, provides safe, caring, and supportive environment for students. The study further discovered that the Principals adopt different strategies to accomplish the mission and vision of IMS. Additionally, IMS impacts positively on students’ lives. However, limited finance, teacher turnovers, operation of schools as businesses have been challenging to the Principals’ effective management of the IMS schools. The principals nonetheless have positive perceptions of IMS’s future. At the same time, the principals expressed concerns about the sustainability of the IMS network. To ensure the sustainability of the IMS vision and mission, the Principals, during the study, recommended that more financial resources should be obtained, remunerations of teachers should be increased, Catholic identity should be kept in schools, improve competitive advantage, encourage good relationships, and constantly revisit the network’s mandate. The study has important implications for stakeholders. Stakeholders can use the findings of the study to meet the critical needs of the IMS network. Since the study was limited to only nine principals, it is recommended that a further research may be carried out to take into account the perceptions of other key actors in the IMS network such as teachers, students, parents and board members. That way a deeper understanding of the establishment mission of the IMS might be gained. Keywords: Principals, Perceptions, Independence Mission Schools, Archdiocese, Philadelphia DOI: 10.7176/JEP/12-10-11 Publication date: April 30 th 2021

Does the purchasing power parity fit for China?

This paper aims to assess whether the purchasing power parity (PPP) holds by examining the dynamic link between nominal exchange rate (NER) and relative consumer price (RCP) in China. With economic transitions and structural changes existing, we discover that by using full sample data the PPP does not hold. Consequently, we apply the rolling window causality method in order to reconsider the dynamic causal link, and as a result we observe NER having both positive and negative impacts on RCP in some sub-periods. However, RCP has no effect on the NER, meaning that the PPP does not hold. Trade cost, restrictions and imperfect competition are considered in explaining the deviations in some sub-sample periods. Therefore, this empirical result has important implications for stakeholders to distinguish factors that bring about the PPP deviations and further offers policy suggestions for the Chinese monetary authority.

R&D Investments and Firm Value: Evidence from China

This study examines whether R&D investments are non-linearly related to firm value. Using a sample of 563 Chinese listed firms between 2005 and 2013, we find that R&D investments have an inverted U-shaped relationship with firm value. This finding indicates that as R&D investments increase, firm value increases to a certain level and then decreases. We further find the presence of an inverted U-shaped relationship in firms with low state ownership. However, we find no evidence of a non-linear relationship in firms with high state ownership. These results suggest that the inverted U-shaped relationship is more pronounced for firms with low state ownership than for firms with high state ownership. Moreover, we find that there is an inverted U-shaped relationship between R&D investments and firm value in firms with high growth opportunities. In contrast, for firms with low growth opportunities, their relationship has a U-shaped pattern. These results are robust to robust standard errors clustered at the firm level, controlling for industry fixed effects, and omitting variable biases. Overall, our empirical evidence extends and complements the literature on the R&D investments–firm value relationship by considering their non-linear pattern. This study provides important implications for stakeholders, such as investors, policy makers, standard-setters, state owners, and regulators. Specifically, our findings can be useful to policy makers who pursue long-term performance objectives.

The impact of internal audit attributes on the effectiveness of internal control over operations and compliance

The internal audit function (IAF) assists management in improving internal controls over operations, reporting, and compliance. While many studies examine the association between the IAF and the internal control over financial reporting (ICFR), little is known about internal control over operations and compliance. Using a unique dataset from Taiwan, this paper examines the association between IAF quality and internal control deficiencies in operations and compliance. The results suggest that a larger internal audit team can enhance internal audit performance for both operations and compliance, whereas internal auditor competence is positively associated with the effectiveness of internal control over compliance, but not operations. This study contributes to the literature by shedding light on the determinants of the achievement of operations and compliance objectives. It also provides important implications for stakeholders and practitioners, as a company’s control over operations and compliance may mutually influence its ICFR and ultimately its business success.

MALAYSIAN STUDENTS’ ACHIEVEMENT IN TIMSS 2011: DOES SCIENCE INQUIRY REALLY MATTER?

Purpose – This study investigates the relationship of student and teacher level variables on Trend for International Mathematics and Science Study (TIMSS) 2011 Science achievement among Malaysian students. Specifically, it aims to examine the effect of students’ achievement when a science inquiry approach is considered. Method – Thirteen educational context variables were selected from the teacher and student questionnaires and were tested on the TIMSS 2011Science achievement. The data were retrieved from the IEA official website and consisted of 177 Science teachers and 5,549 Grade Eight students. A secondary data analysis was employed to examine the relationships between the variables from the perspective of the Dynamic Model of Educational Effectiveness Research. A two-level model of the Hierarchical Linear Modelling (HLM) consisting of Teacher-Student Level was employed. The 13 independent variables are: student gender, parents’ education level, home educational resources, liking Science, valuing Science, teacher gender, class size, teacher who emphasises on academic success, inquiry approach, science assessment, frequency of science test, teacher experience and teacher qualification. The nested data of students and teachers were analysed using Hierarchical Linear Modelling 6.0 statistical software. Findings – The study finds that teacher differences between schools account for 70% variation in the students’ achievement due to factors, such as teacher gender, enthusiasm of teacher in emphasising the academic success of students and class size. However, Science Inquiry is not a contributor to students’ achievement in Science; it has only a moderating effect on students’ achievement to value Science learning. Significance – The findings have important implications for stakeholders, specifically to Teachers’ Training Institutions, Curriculum Development Centres and the Teachers’ Development Division, on the Science teachers’ quality in Malaysia. Affective domain of the students is equally important as the cognitive domain and should not be ignored.

Corporate Philanthropy and Risk Management: An Investigation of Reinsurance and Charitable Giving in Insurance Firms

ABSTRACT:Drawing a framework from strategic stakeholder theory and using 1999 to 2010 panel data from the United Kingdom’s (UK) non-life insurance industry, we examine the effect of reinsurance on the decisions to donate to charities, and the amount given. We find that reinsurance substitutes for charitable giving as it optimizes the interests of multiple stakeholders. We further note that corporate giving is directly related to the size and age of insurers, proportion of female directorships and insider ownership, but generally inhibited by chief executive officer (CEO) bonus plans, dominant shareholders, and financial experts on the board. Interestingly, when reinsurance interacts with board-level variables we find that the donations decision is positively related to CEO bonus plans, and negatively linked with inside ownership and the proportion of female board members. Our research results could have important implications for stakeholders.

Subspecialization in Glaucoma Surgery

To evaluate trends in glaucoma surgery subspecialization. Population-based analysis of incisional glaucoma surgery and laser trabeculoplasty practice patterns among all ophthalmologists in Ontario, Canada, from 1995 through 2010. All ophthalmologists in Ontario, Canada, providing universal health care for the provincial population of approximately 12 million. The province of Ontario provides government-funded universal health care insurance to all citizens through the Ontario Health Insurance Plan (OHIP). Anonymized physician services data were obtained from the OHIP database, which has excellent accuracy for procedure performance. Proportion of ophthalmologists providing incisional glaucoma surgery and laser trabeculoplasty and the distribution of these surgical and laser procedures among ophthalmologists. Between 1995 and 2010, the median number of ophthalmologists in Ontario was 427 (35.1 per 1 million population), ranging from 417 to 453 (32.9-40.3 per 1 million population). The percentage of ophthalmologists providing incisional glaucoma surgery dropped from 35% in 1995 to 19% in 2010, a 47% decline. Over the same period, the mean number of incisional glaucoma surgeries performed per surgeon doubled, and the percentage of incisional glaucoma operations provided by high-volume surgeons rose from 23% to 59%. The percentage of ophthalmologists performing laser trabeculoplasty was relatively stable (48% in 1995 to 50% in 2010). Over the past 16 years, the proportion of ophthalmologists providing incisional glaucoma surgery has declined significantly. At the same time, the proportion of incisional glaucoma surgery provided by high-volume glaucoma surgeons has more than doubled. These trends will have important implications for stakeholders from policy makers and hospitals to academic departments and residency education programs.