Yue Pan, Qiuping Chen and Pengdong Zhang
The purpose of this study is to investigate whether and how policy uncertainty affect corporate environmental information disclosure.
Abstract
Purpose
The purpose of this study is to investigate whether and how policy uncertainty affect corporate environmental information disclosure.
Design/methodology/approach
This study conducts a difference-in-difference estimation and systematically investigates the relationship between policy uncertainty and corporate environmental information disclosure. The baseline regression results are robust to a series of robustness and endogeneity tests.
Findings
The authors show that firms located in cities with stronger policy uncertainty disclose less information on environmental issues. Furthermore, this negative relationship is stronger in the Midwest and in pre-industrial regions and for stated-owned firms and firms in highly polluting industries.
Practical implications
This study argues that policy uncertainty reduce the corporate disclosure of environmental information. Therefore, the results provide evidence on how to better emphasize the importance of green gross domestic product in the performance appraisal system for officials.
Social implications
This study confirms that corporate environmental disclosure is a response to public pressure. The results encourage the government and the public to increase corporate awareness of environmental protection.
Originality/value
This study contributes to the literature in the following ways. First, the authors provide a new perspective to study the relationship between policy uncertainty and corporate finance. Second, it contributes to the literature on corporate environmental information disclosure by linking policy uncertainty with firms’ disclosure of environmental information. Third, this study is a serious attempt to solve the problem of endogeneity between policy uncertainty and corporate environmental information disclosure.
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Malika Chaudhuri, Tanawat Hirunyawipada and Yue Pan
Pharmaceutical marketers use detailing, sampling and direct-to-consumer advertising (DTCA) to promote a branded prescription drug (brand drug) to health-care professionals and…
Abstract
Purpose
Pharmaceutical marketers use detailing, sampling and direct-to-consumer advertising (DTCA) to promote a branded prescription drug (brand drug) to health-care professionals and consumers. These promotion mix elements help raise brand awareness, increase prescription likelihood and guard a product market against competing brand drugs. However, the extent to which these elements remain effective when a brand drug goes off patent and its marketing exclusivity expires, allowing low-price generics to enter the market, remains unclear. This study aims to explore the effectiveness of promotion mix elements before and after the market entry of a generic drug.
Design/methodology/approach
The authors collected and analyzed a panel data set of 41 brand drugs from 7 therapeutic classes between 2007 and 2014 (3,201 observations) using the two-stage control function approach to address potential endogeneity.
Findings
The effectiveness of promotion mix elements changes significantly, but not in a universally uniform way, during a market transition. Detailing and DTCA are increasingly effective after a brand drug’s generics enter the market. In contrast, sampling is more effective before the market transition. The positive effects of sampling on brand sales are stronger when the price of a brand drug is higher than the average price of its competing brands. Sampling also helps amplify the positive influences of detailing and DTCA on brand sales.
Research limitations/implications
This study shows that pharmaceutical promotion is not equally effective in the brand drug market with/without generic competitors. Detailing and DTCA are increasingly effective when generic competition intensifies. In contrast, the distribution of free drug samples is less effective after more generic drugs enter the market.
Practical implications
Incumbent brands’ promotion expenditures often drop dramatically when the expiration of their patents is near, a practice that likely continues after generics enter the market. Taking into consideration these industry norms and their findings, the authors suggest that promotional decisions during a market transition should not overly focus on cutting promotional expenditures across the board. Since a firm’s promotional expenditure tends to be expensive, factoring in information on the effectiveness of each promotion mix element helps marketers make well-informed strategic decisions on resource allocation during the transition from a market without generics to a market with generics.
Originality/value
Previous studies do not explicitly account for structural changes in the brand drug market over time. However, the expiration of patent and marketing exclusivity marks a transitional period in which a brand drug eventually competes with its generic counterparts. Given the criticality of such structural change, the authors examine brand drugs’ promotion effectiveness in the presence of their generic counterparts.
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The paper reviews some theoretical approaches that have been adopted for understanding the drivers and achievements of the Chinese professional project and the challenges it faces…
Abstract
Purpose
The paper reviews some theoretical approaches that have been adopted for understanding the drivers and achievements of the Chinese professional project and the challenges it faces for the future, as a complement and a contrast to previous histories of China and to studies of other developing economies.
Design/methodology/approach
Based mainly on evaluating the information as obtained from the interviews in mainland China, in Hong Kong and in London reported by Macve (2020), complemented by other published histories.
Findings
China remains a paradox. Since the “reform and open” policy began in 1978 it has been transformed from one of the poorest countries to one of the economically most powerful in just some 40 years. However it remains (per capita) a “developing country”/”emerging economy” and ideologically a Communist country. While the accounting profession in the USA and UK has developed “from the bottom up” over more than a century and a half, the Chinese profession has effectively been created “from the top down” in under 25 years. The paper outlines alternative theorizations of the major stages in this achievement, in the context of the continuing rapid growth of China's economy and its stock markets, and of the overseas expansion of its manufacturing and increasingly service-oriented base.
Research limitations/implications
Space has restricted the analysis here to a general overview. Application of Gramsci's hegemony theory is argued to be inappropriate in the context of understanding China's professional project. Instead, this study is framed within the neo-institutional theory of “linked ecologies” originally developed to examine “Western” developments and extended to the emergence of glocalization, while offering a comparison with related theorization of Russia's post-Communist development. Further theoretical development outside the Western neo-liberal context is called for.
Originality/value
The paper demonstrates how accounting and auditing's development in this globally significant context has differed from that in other developing and transitional economies, reflecting in particular the proactive agency of the state. Given China's economic power, fuller understanding of the interrelated factors shaping its development is important for understanding the likely future shaping of the worldwide profession.
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Yue Pan, Xuebao Song, Ayalla Goldschmidt and Warren French
The purpose of the study is to investigate what values are now important to young American and Chinese managers, since they profile the direction in which their country is headed…
Abstract
Purpose
The purpose of the study is to investigate what values are now important to young American and Chinese managers, since they profile the direction in which their country is headed. It aims to explore if the ethical values of young executives in different countries are converging to a common global business culture. It also aims to argue that the individualism‐collectivism value dimension by itself does not capture the differences between the Chinese and American sample members. The vertical‐horizontal dimension, in contrast, seems to better delineate the value orientations among young executives in the two countries.
Design/methodology/approach
In this two‐phase study, both attitudinal and scenario‐based measurements are applied to assess the strength of work value orientations among similar subjects in China and the USA.
Findings
In study 1, Chinese respondents score significantly higher on a hierarchical‐vertical dimension than do the Americans, although the two groups do not differ significantly on the collectivism‐individualism dimension. In study 2, which entails resolving an ethical dilemma, the American subjects apply Egalitarianism as their most frequent expressed value, reflecting their horizontal perspective. The Chinese subjects, in contrast, rely strongly on a traditional vertical value system to resolve the ethical dilemma. Although both American and Chinese negotiators show a collectivist as well as an individualist orientation, their focuses are fundamentally different.
Originality/value
The well‐established collectivism/individualism cultural dimension has been heavily used in cross‐cultural studies, sometimes without much discretion. This study was undertaken as a preliminary attempt to outline the cultural patterns observed among young managers in America and China. The paper argues that cross‐cultural differences underlying ethical conflicts should not be reduced to the single value dimension of individualism/collectivism.
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Abstract
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Ruihui Pu, Thitinan Chankoson, Rebecca Kechen Dong and Lingxi Song
This study brings knowledge economy and sharing to advance environmental, social and governance (ESG). Nevertheless, knowledge economy is a broad research field and dynamic…
Abstract
Purpose
This study brings knowledge economy and sharing to advance environmental, social and governance (ESG). Nevertheless, knowledge economy is a broad research field and dynamic phenomenon. To fill this lacuna, the purpose of this study is to build a link between the literature field of knowledge economy and sharing to advance each ESG limitation. To achieve this aim, the authors have (1) presented the prevailing state of research on the literature field of knowledge economy and sharing and (2) provided future research avenues for understanding the ESG.
Design/methodology/approach
Therefore, this study has conducted a bibliometrics-based visualization analysis of literature data of 169 publications in knowledge economy field from 2010 to 2020. The authors classify findings into five clusters mapping the evolution of knowledge economy.
Findings
The analytical findings indicate the linkages between these clusters with ESG, as well as the application of knowledge economy to advance ESG limitations. This study offers future research implications for knowledge management scholars and managerial suggestions to ESG practitioners.
Originality/value
ESG is a newly emerging investment concept and corporate evaluation standard aiming at exploring a sustainable development path and striking a balance between commercial value and corporate social responsibility. But the status quo indicates identical ESG limitations due to the board of directors’ limited knowledge capacity, inconsistent and ununified ESG measurement and a lack of ESG information. In parallel, knowledge economy has increasingly created a huge higher rate of return and benefits towards this disruptive society. This study brings knowledge economy and sharing to advance ESG. Nevertheless, knowledge economy is a broad research field and dynamic phenomenon.
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This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies.
Abstract
Purpose
This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies.
Design/methodology/approach
This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.
Findings
The mythology of the dragon extends back into the mists of ancient Chinese history. Thought to be one of the primal spirits of the world, the dragon, symbolizing both power and wisdom, had a natural affinity with the lakes and rivers of China where it was believed to reside. The Chinese emperors adopted the dragon as the symbol of their imperial power and today the dragon is understood as a common metaphor for China itself: vast and powerful, beautiful and mysterious. However, the image of the dragon as a benevolent, protective spirit may be giving way to a more European interpretation of dragon mythology, which historically viewed the dragon as a marauding supernatural beast, spitting poisonous fire and leaving devastation in its wake. This can be understood when the cost of China's rapid industrialization is weighed up against the price paid by China's air and water quality, and ultimately by the health of China's greatest asset, the Chinese people.
Practical implications
This paper provides strategic insights and practical thinking that have influenced some of the world's leading organizations.
Originality/value
The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.
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Helen Borland and Stan Paliwoda
The purpose of this paper is to illustrate Michael Thomas's concept of civic professionalism and social trusteeship as a future alternative to the current marketing profession's…
Abstract
Purpose
The purpose of this paper is to illustrate Michael Thomas's concept of civic professionalism and social trusteeship as a future alternative to the current marketing profession's code of conduct and to put this in the context of climate change and ecological sustainability as a model for firms everywhere.
Design/methodology/approach
Review of the marketing profession's responsibility towards society, communities and the ecology of the planet in the twenty‐first century in the light of climate change.
Findings
The hypothesis for the paper emerges as: whether it is possible for Chinese firms to embrace the needs of twenty‐first century global ecological sustainability in meeting their own economic requirements for development and financial prosperity.
Research limitations/implications
Limited secondary research and primary research that is also limited in terms of scope.
Practical implications
As we move into an era of Chinese economic supremacy, we marketers must face up to the responsibility we have towards balancing the progression of global economic development (and selling goods and services in global market systems) with our responsibility towards our cultural systems and the global ecological system (the global ecosystem), the home of all our economic wealth.
Social implications
To extrapolate lessons and opportunities for firms from developing economies as they move towards global domination of world economic markets and, suggest strategies for sustainability that they can, and should, adopt.
Originality/value
The paper presents a theoretical framework for a global strategy for sustainability, and provides a vision of marketing responsibility that embraces civic professionalism, social trusteeship and a strategy for sustainability.
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To study these issues, the authors chose a GFSC with one producer and one material supplier as research object, the supplier will offer green material to the producer and the…
Abstract
Purpose
To study these issues, the authors chose a GFSC with one producer and one material supplier as research object, the supplier will offer green material to the producer and the producer will make green food using green production technology. Then, the authors proposed that consumers' perceived value was determined by the trustworthiness levels of the related green and quality-safety information provided by the supplier and the producer. Then, considering the trustworthiness levels of the green and quality information provided by the supplier and the producer, the authors improved the demand function. Afterwards, we constructed four investment models and their income models are built and then a cost-sharing and revenue-sharing contract (hereafter, CSRS) was adopted to coordinate the GFSC.
Design/methodology/approach
With the growth of consumers environmental awareness and life level, consumers' requirements for green and high quality food are growing. In recently years, to increase consumers' perceived trustworthiness on the product greenness and quality levels, stakeholders in green food supply chain (hereafter, GFSC) start to adopt the blockchain-based traceability system (hereafter, BLTS). For investors, they need to know the investment conditions and how to coordinate the GFSC.
Findings
(1) When the revenue-sharing coefficient is less than three-fourths and higher then a certain vaule, the cost-sharing and revenue-sharing contract can make the GFSC coordinate. (2) The investment cost threshold of the BLTS has a positive relationship with the trustworthiness improvement levels of the green and quality information, the green degree of food products and the quality of food products. (3) In the proposed four investment situations, as the growth of consumers perceived credibility coefficient about the greenness information and the quality information, chain members' revenues will increase. In addition, comparing with co-investing the BLTS, benefits of chain members are lower than them in the sole investment model.
Originality/value
(1) The demand function we proposed can help chain members forecast market demand to support production or ordering decisions. (2) The investment decision policies can offer a theoretical reference for chain members to use the BLTS. (3) The CSRS will offer the theoretical reference for coordinating the supply chain after using the BLTS. Furthermore, our study method can be referenced by other scholars. (4) The study method can offer a method reference for researchers who do a similar discussion in a manufacturing supply chain. Although, our research cannot guide the industrial practices, it can serve as a reference of the similar research in industry.
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The purpose of this paper is to examine the several methodologies and activities taken to assess the environmental impacts of a $33 million pilot project undertaken through a loan…
Abstract
Purpose
The purpose of this paper is to examine the several methodologies and activities taken to assess the environmental impacts of a $33 million pilot project undertaken through a loan from the Asian Development Bank (ADB) jointly with significant Chinese government investments. The ADB biogas utilization project has supported construction of over 7,500 biogas digesters in more than 140 rural villages. An additional 10,000 biogas digesters are programmed as well as significant investment in biogas production through large‐scale animal agribusinesses. The latter will be supported through investments utilizing the Clean Development Mechanism (CDM).
Design/methodology/approach
The paper provides a longitudinal perspective by: looking at the project's Initial Environmental Examination (IEE) undertaken at appraisal; assessing the ongoing energy and environmental monitoring plan currently under way; and examining the potential for the use of Strategic Environmental Assessment (SEA) as a tool for integrating environmental policy considerations on a regional or provincial level in China.
Findings
Improved technologies for application of renewable energy – in particular successful application and adoption of biogas digesters at the village level – offer the potential to promote sustainable, cost‐effective growth in agriculture with concurrent positive environmental impacts.
Practical implications
Based on the relative success of ongoing efforts to promote the adoption of biomass technologies, a significant expansion of the bioenergy program is under consideration by the Ministry of Agriculture.
Originality/value
The case study suggests that there is potential for use of SEA as a tool for the establishment of regional or provincial environmental priorities by taking account of information on the economic, social and environmental benefits, costs and risks of adopting a national strategy for biomass utilization. SEA is a recent innovation in China and must be adapted to local conditions.