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Urban Unemployment Duration Analysis in Post-Reform China 改革开放后中国城市失业持续时间分析
American Business Review Pub Date : 2024-05-01 DOI: 10.37625/abr.27.1.302-325
Soumyatanu Mukherjee, Soumya Roy
{"title":"Urban Unemployment Duration Analysis in Post-Reform China","authors":"Soumyatanu Mukherjee, Soumya Roy","doi":"10.37625/abr.27.1.302-325","DOIUrl":"https://doi.org/10.37625/abr.27.1.302-325","url":null,"abstract":"We link China’s accession to the WTO with the unemployment duration of urban jobseekers. Using data from the Rural Urban Migration in China (RUMiC) of a survey conducted in early 2008, we construct an inflow sample of those who started a period of joblessness between January 2002 and December 2007 to estimate the unemployment duration for local urban jobseekers. Deploying the Cox Proportional Hazards and Accelerated Failure Time models, we find reduced trade policy uncertainty significantly shortens unemployment duration, with hazard-rate varying across internal in-migrants and urban natives, due to variations in job accessibility and reservation wages.","PeriodicalId":34785,"journal":{"name":"American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141028034","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A New Look at the Connectedness Between Energy and Metal Markets Using a Novel Approach 用新方法重新审视能源和金属市场之间的关联性
American Business Review Pub Date : 2024-05-01 DOI: 10.37625/abr.27.1.116-166
Adeolu O. Adewuyi, Olusegun S. Adeboye, A. Tiwari
{"title":"A New Look at the Connectedness Between Energy and Metal Markets Using a Novel Approach","authors":"Adeolu O. Adewuyi, Olusegun S. Adeboye, A. Tiwari","doi":"10.37625/abr.27.1.116-166","DOIUrl":"https://doi.org/10.37625/abr.27.1.116-166","url":null,"abstract":"This study extends the existing literature in this area by examining the conditional connectedness between energy and metal markets using a novel time-varying quantile and frequency connectedness method developed by Chatziantoniou, et al. (2022) based on Ando, et al. (2018) and Barunik & Krehlik (2018) techniques. Connectedness between the markets was analyzed across various times and frequencies, with daily data covering May 18, 2011, to September 23, 2020. Short-term dynamics strongly drive the total pairwise shocks, while the contribution of medium-term dynamics was meagre, and that of long-term dynamics was insignificant. While the natural gas, gasoline, gas oil, heating oil, crude oil, coal, kerosene, propane, and diesel markets spilled-out shocks to many markets, gold, copper, aluminum, platinum, silver, nickel, palladium and lead markets received shocks from many markets. Zinc appears as an isolated market. The market which influenced the majority of other markets is natural gas, followed by gasoline, gas oil, heating oil, crude oil, coal, kerosene, propane and diesel. In contrast, zinc did not influence any of the markets. The pairwise connectedness results reveal the existence of intra-market linkages within the energy markets (horizontal market integration), while inter-market associations also exist between energy and metal markets (vertical market integration). However, there are only intra-market linkages in the metal markets. Linkages are strong in some markets during the COVID-19 crisis. These results inform some policy recommendations well-articulated in the conclusion section.","PeriodicalId":34785,"journal":{"name":"American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141028981","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Effect of Managerial Ability on the Market Valuation of Unrecognized Tax Benefits 管理能力对未确认税收优惠市场估值的影响
American Business Review Pub Date : 2024-05-01 DOI: 10.37625/abr.27.1.349-371
Chunhao Xu, Xiangge Wang, Shiyou Li, Rachana Kalelkar, Lili Gai
{"title":"The Effect of Managerial Ability on the Market Valuation of Unrecognized Tax Benefits","authors":"Chunhao Xu, Xiangge Wang, Shiyou Li, Rachana Kalelkar, Lili Gai","doi":"10.37625/abr.27.1.349-371","DOIUrl":"https://doi.org/10.37625/abr.27.1.349-371","url":null,"abstract":"This study examines the effect of managerial ability on the market valuation of unrecognized tax benefits (UTBs). While UTBs are generally associated with significant risks, we hypothesize that highly able managers can enhance the market valuation of the UTBs through their ability and efforts to report high-quality UTBs and retain the economic benefits of tax strategies. Consistent with our expectations, we find that managerial ability positively moderates the relationship between UTBs and firm values. Our additional analyses show that highly able executives can reduce firms’ future overall tax risk and tax settlements. Collectively, our findings suggest that the stock market values UTBs positively in firms managed by highly capable executives who can minimize tax risks while lowering tax payments.","PeriodicalId":34785,"journal":{"name":"American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141031852","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
To Sue or Not To Sue?: Foreign-Sounding CEO Name and Class-Action Lawsuits 起诉与否：听起来像外国人的首席执行官名字与集体诉讼
American Business Review Pub Date : 2024-05-01 DOI: 10.37625/abr.27.1.5-95
Gajanan Ganji, Arati Kale, Devendra Kale
{"title":"To Sue or Not To Sue?: Foreign-Sounding CEO Name and Class-Action Lawsuits","authors":"Gajanan Ganji, Arati Kale, Devendra Kale","doi":"10.37625/abr.27.1.5-95","DOIUrl":"https://doi.org/10.37625/abr.27.1.5-95","url":null,"abstract":"In this paper, we investigate if the perceived name-based ethnicity of CEOs has any relationship with the likelihood of shareholder class-action lawsuits. Using machine learning algorithms on CEO names, we develop an objective proxy of name-based ethnicity and find that firms managed by ‘foreign-sounding’ CEOs exhibit a lower likelihood of class-action lawsuits. Our results are robust to matched sample analysis, Heckman two-stage selection, alternate model specifications as well as use of an alternate proxy. We further find that succession of a foreign-sounding CEO by a non-foreign-sounding CEO increases the likelihood of class-action lawsuits. Our paper has important implications for firms, especially in high litigation industries or high litigation situations.","PeriodicalId":34785,"journal":{"name":"American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141045078","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Asset Returns and Economic Uncertainty: A Cross-Country Analysis 资产回报与经济不确定性：跨国分析
American Business Review Pub Date : 2024-05-01 DOI: 10.37625/abr.27.1.244-276
Javed Bin Kamal, A. Hossain, Omar Al Farooque, M. Wohar
{"title":"Asset Returns and Economic Uncertainty: A Cross-Country Analysis","authors":"Javed Bin Kamal, A. Hossain, Omar Al Farooque, M. Wohar","doi":"10.37625/abr.27.1.244-276","DOIUrl":"https://doi.org/10.37625/abr.27.1.244-276","url":null,"abstract":"This paper examines the effects of economic uncertainty (idiosyncratic vis-à-vis common uncertainty) on equity, bond and housing returns across both developed and developing countries. Building on International/Intertemporal Capital Asset Pricing Model (ICAPM), we find that economic uncertainty exerts negative effects on equity, bond and housing returns. When we decompose economic uncertainty into two parts: idiosyncratic and common economic uncertainty, we find that ‘idiosyncratic uncertainty’ affects equity, bond and housing returns more negative and pronounced than ‘common’ uncertainty, where investors do not demonstrate differences in responses to the different dimensions of uncertainty. Moreover, there are weak lagged effects of economic uncertainty on asset returns. Additionally, we find negative uncertainty premium for equity more persistently in bullish rather than bearish market conditions. Our results are also robust for low frequency data and inclusion of covid period in the analysis. Our findings have implications for policy makers in both developed and emerging markets regarding clear communication of economic policies.","PeriodicalId":34785,"journal":{"name":"American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141023939","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Designing Efficient and Equitable Freight Services Markets for Sustainable Economic Performance 设计高效公平的货运服务市场，实现可持续经济效益
American Business Review Pub Date : 2024-05-01 DOI: 10.37625/abr.27.1.167-181
Arim Park, Mark Rodgers, Soohyun Cho
{"title":"Designing Efficient and Equitable Freight Services Markets for Sustainable Economic Performance","authors":"Arim Park, Mark Rodgers, Soohyun Cho","doi":"10.37625/abr.27.1.167-181","DOIUrl":"https://doi.org/10.37625/abr.27.1.167-181","url":null,"abstract":"Despite the indispensability of freight trucking services and truckers’ role as critical stakeholders in supply chains, relatively little attention has been paid to analyzing small independent truckers’ roles. Shippers often prefer working with larger trucking companies to the detriment of smaller independent truckers, who must grapple with an inherently disadvantageous job market. Furthermore, in the presence of uncertainty or peak demand periods, trucker shortages can pose significant economic challenges for shippers and downstream customers. In this paper, we propose an analytical framework to address these challenges in efforts to enhance the sustainability of the freight service industry. We formulate and solve a weighted bi-objective optimization model that simultaneously maximizes the total profits of both shippers and truckers to design a sustainable freight services market. Further, we leverage Monte Carlo simulation trials to examine how all players in this market can achieve a better solution under uncertainty. Ultimately, after evaluating multiple scenarios, we find that shippers and truckers yield the highest economic benefits under a balanced design that leverages principles of supply chain coordination, while satisfying all demand from shippers. This framework can serve as a decision support tool for policymakers who aim to ensure all stakeholders in the market can become and remain profitable. Based on our findings, this study suggests practical implications on how to consider humanitarian policies aimed at promoting equity for truckers and ensuring the timely shipment of essential products for both shippers and truckers.","PeriodicalId":34785,"journal":{"name":"American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141045112","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Firm Type and Unconditional Conservatism: The Indian Experience with IFRS Convergence 公司类型与无条件保守主义：印度的《国际财务报告准则》趋同经验
American Business Review Pub Date : 2024-05-01 DOI: 10.37625/abr.27.1.221-243
Debarati Basu
{"title":"Firm Type and Unconditional Conservatism: The Indian Experience with IFRS Convergence","authors":"Debarati Basu","doi":"10.37625/abr.27.1.221-243","DOIUrl":"https://doi.org/10.37625/abr.27.1.221-243","url":null,"abstract":"This paper investigates how private and public firms vary with respect to unconditional conservatism in financial reporting in the pre and post IFRS worlds. I consider unconditional conservatism (UC) which pre-empts the more commonly studied conditional conservatism, private firms that are differently regulated, IFRS convergence instead of the more uniform IFRS adoption and an emerging market. Using a large Indian sample of 63,000 observations across more than 15,500 firms (~41% are private) over 10 years (2011-2020), I show that private firms are less unconditionally conservative than public firms. Also, contrary to literature, IFRS convergence increases conservatism in India and reduces the conservatism gap between private and public firms. These results hold even after controlling for monitoring, governance, and group-affiliation. This adds significantly to our understanding of how the effect of uniform accounting standards on reporting choices of different firm types varies significantly by and within a context and region.","PeriodicalId":34785,"journal":{"name":"American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141048272","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A Rational Perspective of Servant Leadership: Towards a Paradigm Shift in Servant Leader Motivation 仆人式领导的理性视角：实现仆人式领导激励范式的转变
American Business Review Pub Date : 2024-05-01 DOI: 10.37625/abr.27.1.326-348
Kevin J. Hurt, Ross Nolan
{"title":"A Rational Perspective of Servant Leadership: Towards a Paradigm Shift in Servant Leader Motivation","authors":"Kevin J. Hurt, Ross Nolan","doi":"10.37625/abr.27.1.326-348","DOIUrl":"https://doi.org/10.37625/abr.27.1.326-348","url":null,"abstract":"Advocates of servant leadership maintain that altruism is the foundational ethic fueling the success of the servant leader. Thus, the foremost requirement of a servant leader is the possession of a concern for others above and beyond his or herself. Researchers have largely neglected the possibility that servant leaders may be, at least partially, motivated by self-interest. We challenge the current foundational ethic attributed with servant leadership and put forth a new ethical perspective. Reviewing four motivational states, from purely other-centered to purely self-centered, we introduce a conceptual model and argue that the proper ethic to ascribe with servant leadership is a dual motivational perspective of rational self-interest and agapao love. A dual motivational perspective allows the servant leader to avoid the negative consequences of the self-sacrificial, altruistic motivation while maintaining the positive, pro-social behaviors that improve organizational outcomes associated with servant leadership.","PeriodicalId":34785,"journal":{"name":"American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141043513","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Boundary Conditions of Optimal Contracting and Managerial Entrenchment: A Simultaneous Two-Equation Vector Autoregression with Exogenous Variables Approach for Chief Executive Officer Compensation and Firm Performance 最优契约和管理者箝制的边界条件：首席执行官薪酬与公司业绩的同步两方程向量自回归与外生变量法
American Business Review Pub Date : 2024-05-01 DOI: 10.37625/abr.27.1.182-206
Juehui Shi, Ngoc Cindy Pham
{"title":"The Boundary Conditions of Optimal Contracting and Managerial Entrenchment: A Simultaneous Two-Equation Vector Autoregression with Exogenous Variables Approach for Chief Executive Officer Compensation and Firm Performance","authors":"Juehui Shi, Ngoc Cindy Pham","doi":"10.37625/abr.27.1.182-206","DOIUrl":"https://doi.org/10.37625/abr.27.1.182-206","url":null,"abstract":"We apply the vector autoregression with exogenous variables (VARX) approach to integrate the optimal contracting theory, the managerial entrenchment theory, the principal-agent theory, the contextual criteria theory, and the upper echelon theory. Based on this new approach, we discover two middle ground conditions between the boundary of managerial entrenchment and optimal contracting, where CEO non-entrenchment or entrenchment cannot be explained by the managerial entrenchment theory or optimal contracting theory alone. For example, some CEOs are not entrenched when the agency problem is not mitigated, while others are entrenched when the agency problem is mitigated. The results imply that merely mitigating the agency problem cannot prevent managerial entrenchment. However, not mitigating the agency problem at all leads to managerial entrenchment. We recommend the boards look at other non-financial means and social approaches (e.g., value- and culture-based trainings, performance recognition, goodwill and friendship building events, pay transparency increase, smooth flow of information among stakeholders, value-adding managerial investments, oversight committee) to minimize the impact of managerial entrenchment on both firm performance and CEO compensation. In addition, we recommend the boards take on the approaches unique to their own firms and their CEOs to address managerial entrenchment.","PeriodicalId":34785,"journal":{"name":"American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141055595","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Embracing AI with Integrity: Recommendations for Authors and Reviewers at American Business Review 诚信拥抱人工智能：美国商业评论》对作者和审稿人的建议
American Business Review Pub Date : 2024-05-01 DOI: 10.37625/abr.27.1.1-4
{"title":"Embracing AI with Integrity: Recommendations for Authors and Reviewers at American Business Review","authors":"","doi":"10.37625/abr.27.1.1-4","DOIUrl":"https://doi.org/10.37625/abr.27.1.1-4","url":null,"abstract":"As Editors of the American Business Review (ABR), we are navigating a complex landscape as the rapid integration of Artificial Intelligence (AI) into academic research unfolds. This digital transformation era offers remarkable opportunities yet poses significant challenges, particularly in educational contexts. As teachers, we've all observed a surge in AI usage among students where outputs often appear coherent initially but may lack depth or relevance to the class content. Many of these instances underscore critical aspects of AI, such as the \"black box\" problem, where the decision-making processes of AI systems are opaque, making it difficult for users to understand how conclusions are drawn.","PeriodicalId":34785,"journal":{"name":"American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141041242","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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