This study investigated the role of entrepreneurial passion in recognition of opportunity, developing entrepreneurial self-efficacy, and entrepreneurial intention, in the shaping of entrepreneurial actions in the presence of proactive personality. This study applied partial least squares structural equation modeling to test the hypotheses on a sample of 346 university students from Jiangsu province, China. The output of the study showed that entrepreneurial passion positively and significantly influenced entrepreneurial alertness, entrepreneurial self-efficacy to entrepreneurial intention, and entrepreneurial behavior. The findings also showed (...) that a proactive personality positively and significantly moderated the relationship between entrepreneurial intention and entrepreneurial behavior. (shrink)

In this article, we examine the empirical association between firm value and CSR engagement for firms in sinful industries, such as tobacco, gambling, and alcohol, as well as industries involved with emerging environmental, social, or ethical issues, i.e., weapon, oil, cement, and biotech. We develop and test three hypotheses, the window-dressing hypothesis, the value-enhancement hypothesis, and the value-irrelevance hypothesis. Using an extesive US sample from 1995 to 2009, we find that CSR engagement of firms in controversial industries positively affects firm (...) value after controlling for various firm characteristics. To address the potential endogeneity problem, we further estimate a system of equations and change regression and continue to find a positive relation between CSR engagement and firm value. Our findings support the value-enhancement hypothesis and are consistent with the premise that the top management of US firms in controversial industries, in general, considers social responsibility important even though their products are harmful to human being, society, or environment. (shrink)

Seminal work by Knobe, Prasada, and Newman (2013) distinguished a set of concepts, which they named “dual‐character concepts.” Unlike traditional concepts, they require two distinct criteria for determining category membership. For example, the prototypical dual‐character concept “artist” has both a concrete dimension of artistic skills, and an abstract dimension of aesthetic sensibility and values. Therefore, someone can be a good artist on the concrete dimension but not truly an artist on the abstract dimension. Does this analysis capture people's understanding of (...) cornerstone social categories, such as gender, around which society and everyday life have traditionally been organized? Gender, too, may be conceived as having not only a concrete dimension but also a distinct dimension of abstract norms and values. As with dual‐character concepts, violations of abstract norms and values may result in someone being judged as not truly a man/woman. Here, we provide the first empirical assessment of applying the dual‐character framework to people's conception of gender. We found that, on some measures that primarily relied on metalinguistic cues, gender concepts did indeed resemble dual‐character concepts. However, on other measures that depicted transgressions of traditional gender norms, neither “man” nor “woman” appeared dual‐character‐like, in that participants did not disqualify people from being truly a man or truly a woman. In a series of follow‐up studies, we examined whether moral norms have come to replace gender role norms for the abstract dimension. Implications for the evolution of concepts and categories are explored. (shrink)

We propose that local corruption distorts the allocation of government-controlled resources and impairs the contract environment, thereby reducing firms’ use or suppliers’ provision of trade credit. We use a sample of Chinese-listed firms from 2007 to 2020 to examine the role of local corruption in firms’ access to trade credit and find that the level of local corruption is negatively related to firms’ trade credit use. This effect is more pronounced in firms with weak (vs. strong) internal governance, slack (tight) (...) external monitoring and high (low) supplier concentration. The results of path analysis show that local corruption extends short-term bank loans as well as government subsidies and impairs firms’ accounting quality, thereby inhibiting firms’ demand for or suppliers’ provision of trade credit. Moreover, the post-2012 anti-corruption campaign in China plays a significant role in correcting the misallocation of trade credit caused by corruption. The results of this study illuminate the negative external effects of local corruption on trade credit. (shrink)

We empirically examine the impact of corporate social responsibility (CSR) on CEO compensation using a large sample of the US firms from 1996 to 2010. We develop and test two hypotheses, the overinvestment hypothesis based on agency theory and the conflict–resolution hypothesis based on stakeholder theory. We find that the lag of CSR adversely affects both total compensation and cash compensation, after controlling for various firm and board characteristics. Our estimates show that an interquartile increase in CSR is followed by (...) a 4.35% (2.78%) decrease in total (cash) compensation. We also find an inverse association between lagged employee relations and CEO compensation. Our results are robust to the correction for endogeneity using instrumental variable approach. Taken together, our results support the conflict–resolution hypothesis, but not the CSR overinvestment argument. (shrink)

Previous studies argue that religious firms are more ethical and thus engage less in accrual earnings management. At odds with the ethical view, we use a sample of Chinese listed firms and show that firms in religious regions use more real earnings management. We postulate that besides ethics, religion also proxies for risk aversion, which motivates firms to substitute accrual earnings management with real earnings management. Consistent with this view, we show that the positive association between religiosity and real earnings (...) management is more pronounced for firms with lower litigation risk and for firms with less reputable auditors. In addition, we use a mediation model introduced by Baron and Kenny :1173–1182, 1986) to show that religiosity affects earnings management through the channel of risk aversion. We conclude that firms choose real earnings management over accrual-based earnings management because of risk aversion, rather than ethical reasons. (shrink)

In this study, we examine the relation between corporate environmental responsibility and risk in U.S. public firms. We develop and test the risk-reduction, resource-constraint, and cross-industry variation hypotheses. Using an extensive U.S. sample during the 1991–2012 period, we find that for U.S. industries as a whole, CER engagement inversely affects firm risk after controlling for various firm characteristics. The result remains robust when we use firm fixed effect or an alternative measure of CER using principal component analysis or downside risk (...) measures. To address the concern of endogeneity bias, we use a system equations approach and dynamic system generalized methods of moment regressions, and continue to find that environmentally responsible firms experience lower risk. These findings support the risk-reduction hypothesis, but not the resource-constraint hypothesis, along with the notion that the top management in U.S. firms is generally risk averse and that their CER engagement facilitates their risk management efforts. Our cross-industry analysis further reveals that the inverse CER-risk association mainly comes from the manufacturing sector, whereas in the service sector, CER tends to increase firm risk. (shrink)

This study aims to identify the influence of knowledge management practices on the entrepreneurial and organizational performance with the mediating effect of dynamic capabilities and moderating role of opportunity recognition. Data were gathered from 486 entrepreneurs and applied a structural equation model to test the hypotheses. We found that knowledge management practices have a positive and significant influence on dynamic capabilities, as well as have a significant impact on entrepreneurial and organizational performance. Moreover, results indicated that dynamic capabilities partially mediate (...) in the relationship between knowledge management practices on entrepreneurial and organizational performance. Furthermore, the relationship between knowledge management practices with entrepreneurial and organizational performance strengthening by opportunity recognition. Further, implications and limitations were discussed in the paper. (shrink)

This article examines the impact of traditional Chinese culture on organ donation from the perspective of Confucianism, Buddhism, and Taoism. In each of these cultural systems, it appears that there are some particular sayings or remarks that are often taken in modern Chinese society to be contrary to organ donation, especially cadaveric organ donation. However, this article argues that the central concerns of Buddhism, Confucianism, and Taoism are “great love,” “ren,” and “dao,” which can be reasonably interpreted to support organ (...) donation. The author understands that each cultural system, in order to play its cultural function, must have its central concerns as well as relevant ritual practices (li) that incarnate its religious and ethical commitments. That is, each plays a general cultural role, which influences organ donation in particular not merely through abstract or general ethical principles and teachings, but through a combination of ethical teachings and the forming of particular ritual practices. This article contends that the primary reason Chinese individuals fail to donate sufficient cadaveric organs for transplantation is not because particular remarks or sayings from each of these systems appear to conflict with donation. Neither is it that the central concerns of these systems cannot support cadaveric donation. Rather, it is that modern Chinese individuals have failed to develop and secure relevant ritual practices that support the central concerns of organ transplantation. The article concludes that in order to promote more donations, there is a need to form relevant ritual practices supporting organ donation in conformity with the central concerns of these cultural systems. (shrink)

Previous studies substantiate that religious social norms influence individual and organizational decisions. Using debt financing settings, we examine whether a firm’s religious environment influences outside parties’ perceptions in contracting with the firm. We document that firms located in the more religious areas use less debt financing and receive better credit ratings. Bond investors require lower yields and impose fewer covenants on such firms. Using the 2002 revelation of sex abuse by Catholic priests as an exogenous shock, we verify that these (...) findings are not driven by endogeneity issues. Our study highlights the role of social norms in financial transactions. (shrink)

This study investigated the mediating roles of self-acceptance and self-esteem in the relationship between body image dissatisfaction and impulse buying, and tested the moderating effect of gender on the relationships. A sample of 374 college students and graduate students participated in the study. Results revealed that body image dissatisfaction positively associated with impulse buying; self-esteem plays a mediating role between body image dissatisfaction and impulsive buying; a serial indirect pathway emerged; the mediation path from self-acceptance to self-esteem was stronger for (...) female than that from male. The results underscore the importance of identifying the mechanisms that moderate the mediated path between body image dissatisfaction and impulse buying among students. These findings point to the potential implications about how to reduce impulse buying through improving body image satisfaction. (shrink)

This paper uses an innovative way to screen stocks and analyzes the relationship between corporate environmental responsibility and long-run stock returns. By our definition, an environmentally responsible (green) company gives no environmental concern and shows environmental strength(s). Using 20 years’ data of 1992–2011, we find evidence that environmentally responsible company outperforms, in the 4th to 7th year after the screening year. An equal-weighted environmentally responsible portfolio earned an annual four-factor alpha of 4.06 % in the 4th year, 3.00 % above (...) industry benchmarks, and 3.87 % above characteristic benchmarks. The results are robust to alternative portfolio weighting methodologies, controlling for firm characteristics, and the removal of outliers. Testing using industry-adjusted Tobin’s Q, we find consistent evidence that environmental strength creates firm value. We argue that environmental responsibility is an intangible asset, likely to be undervalued by the market, especially in the long horizon, thereby causing environmentally responsible companies to exhibit long-horizon excess returns. (shrink)

Nowadays, depression is the world’s major health concern and economic burden worldwide. However, due to the limitations of current methods for depression diagnosis, a pervasive and objective approach is essential. In the present study, a psychophysiological database, containing 213 subjects, was constructed. The electroencephalogram signals of all participants under resting state and sound stimulation were collected using a pervasive prefrontal-lobe three-electrode EEG system at Fp1, Fp2, and Fpz electrode sites. After denoising using the Finite Impulse Response filter combining the Kalman (...) derivation formula, Discrete Wavelet Transformation, and an Adaptive Predictor Filter, a total of 270 linear and nonlinear features were extracted. Then, the minimal-redundancy-maximal-relevance feature selection technique reduced the dimensionality of the feature space. Four classification methods distinguished the depressed participants from normal controls. The classifiers’ performances were evaluated using 10-fold cross-validation. The results showed thatK-Nearest Neighbor had the highest accuracy of 79.27%. The result also suggested that the absolute power of the theta wave might be a valid characteristic for discriminating depression. This study proves the feasibility of a pervasive three-electrode EEG acquisition system for depression diagnosis. (shrink)

ABSTRACT The research purpose is to investigate the influence of Confucianism, Taoism and Buddhism on Chinese folklore vocals and their elements in modern music. The research methodology is based on descriptive, comparative, interpretative and statistical analysis (Spearman’s rank correlation coefficient). The analysis of the folk vocals of each thematic group among 110 folk songs of the Shi Jing supports the argument that Confucianism, Taoism and Buddhism had the greatest influence on the vocals. During the analysis, it was determined that folk (...) songs about love (0.942) and songs themed around nature (0.917) exhibit the most pronounced influence on their potential utilisation in the performance of popular compositions. The findings indicated that 75% of the folk vocal compositions with nature-related themes demonstrated discernible influences from Buddhism. The research findings have enabled the identification of exemplary renditions of the folkloric composition ‘Czo-yui’ from the ‘Book of Changes’, adeptly adapted to contemporary motifs, which were achieved at a notably high level within respondent groups #1 (7.2), #4 (7.4) and #5 (7.1). These commendable outcomes are attributed to the preservation of harmonious tonality, precise intonation and artistic expression during the performance process. (shrink)

The article explores a gradual refinement of the notion of reflection in Husserlian phenomenology. In his early period, Husserl takes phenomenological reflection to attain adequate evidence, since its object is self-given in an absolute and complete manner. However, this conception of reflection does not remain unchanged. Husserl later realizes that immanent perception or phenomenological reflection also involves a certain horizonality and naivety that has to do with its temporal nature and must be queried in a further critical, apodictic reflection. Focusing (...) more on the notion of apodicticity than adequacy, Husserl subsequently ascribes a new methodological role to reflection: instead of a mere epistemic warrant that guarantees for us the ultimate truth of our experiential life once and for all, phenomenological reflection ensures the strictness of phenomenology insofar as it entails an ethical-existential dimension as the norm of a life-form where the subject pursues full self-understanding and self-justification. (shrink)

This paper explores organ donation through the perspective of Reconstructionist Confucianism. I argue that for organ donation in China to be morally permissible, public policy must conform to the norms of Confucian benevolence. Reconstructionist Confucianism appreciates benevolence as an objectively important feature of morality deeply connected to moral rules governing propriety, integrity, righteousness, and human freedom. Here, benevolence involves sincere affection for another as an intrinsic good, rather than as a means to achieve other purposes. It requires developing self-restraint and (...) proper respect for others. As I argue, family-based consent is essential for ensuring that organ donation conforms to such an understanding of benevolence and is, thereby, compatible with Confucian culture. Consequently, legislation in China should solidify family-based consent for organ donation to consolidate a benevolent family environment as the basis of morality, law, and social existence. (shrink)

Ben shu shi cai yuan pei xian sheng guan yu gong min dao de xiu yang fang mian de dai biao zuo, Zhu yao shou lu ta zui wei zhong yao de dao de si xiang dai biao zuo pinzhong xue xiu shen jiao ke shu hehua gong xue xiao jiang yi, Bing shou lu cai yuan pei qi ta you guan dao de xiu yang de ling san wen zhang, Chong fen ti xian le cai yuan pei xian sheng (...) dui yu xian dai zhong guo ren ying ju you de dao de su yang de zong ti gou xiang. (shrink)