Ahsan Habib, Rong Gong and Mahmud Hossain
The purpose of this research note is to examine the association between overvalued equities and audit fees in the USA.
Abstract
Purpose
The purpose of this research note is to examine the association between overvalued equities and audit fees in the USA.
Design/methodology/approach
The paper employs a standard audit fee regression model incorporating proxies for overvalued equities and controls for other known determinants of audit fees. Three proxies for overvaluation are used in this paper. These are: a lagged price‐earnings‐based overvaluation measure; a lagged price‐to‐book‐based overvaluation measure; and finally, a lagged abnormal‐return‐based overvaluation proxy measure.
Findings
Findings show that auditors charge higher audit fees for clients posing increased audit risks because of equity overvaluation, that this relationship did not change during and after the global financial crisis period, and is more pronounced for firms prone to aggressive earnings management.
Practical implications
This finding should assure investors about audit quality, since the positive finding potentially implies that auditors exert extra audit effort in auditing financial statements of firms that have been identified as overvalued. This finding should also provide some evidence to audit regulators that the audit profession incorporates audit risk into audit pricing. However, since no test has been conducted to identify the association between clients' business risk and audit effort, the positive association between equity overvaluation and audit fees should be interpreted in light of this limitation.
Originality/value
Jensen cautions that firms with overvalued equities suffer substantial agency costs. Although empirical research has documented managerial responses to overvaluation, there exists scant empirical evidence on auditors' response to the increased risk emanating from equity overvaluation. Since external auditors perform a significant role in ensuring the credibility of financial statements, it is important to understand whether auditors efficiently price this risk while determining audit fees.
Details
Keywords
Given the historical legacy of policing Black bodies, this research focuses on the structures of anti-Blackness within school policing and the strategies students of Color…
Abstract
Purpose
Given the historical legacy of policing Black bodies, this research focuses on the structures of anti-Blackness within school policing and the strategies students of Color activists use as they work to defund or abolish police departments in the Los Angeles Unified School District (LAUSD).
Design/methodology/approach
Specifically, this article looks to Twitter as a counter-storytelling space for students of Color activists to organize and build movements to end anti-Black school policing. Through the frameworks of critical race theory (CRT) and Black critical theory (BlackCrit), this research applies inductive coding to analyze 42 Twitter posts from three students of Color-led organizations based in Los Angeles.
Findings
This document analysis presents four themes, which describe four dominant strategies students of Color activists use in their campaigns to defund or abolish school police in the LAUSD: (1) centering Blackness and Black student experiences, (2) making demands for the elimination of funding and support for school police, (3) calling for a shift in funding to support Black students and (4) employing multiple tactics concurrently.
Research limitations/implications
These findings demonstrate the importance of developing and centering a critical understanding of anti-Blackness to achieve racial and educational justice within social movements.
Originality/value
Moreover, the demands of students of Color activists reflect visions of public schools free from anti-Black school policing.
Details
Keywords
Łukasz Łach and Dmytro Svyetlichnyy
Some functional properties of engineering materials, i.e. physical, mechanical and thermal ones, depend directly on the microstructure, which is a result of processes occurring in…
Abstract
Purpose
Some functional properties of engineering materials, i.e. physical, mechanical and thermal ones, depend directly on the microstructure, which is a result of processes occurring in the material during the forming and thermomechanical processing. The proper microstructure can be obtained in many cases by the phase transformation. This phenomenon is one of the most important processes during hot forming and heat treatment. The purpose of this paper is to develop a new comprehensive hybrid model for modeling diffusion phase transformations. A problem has been divided into several tasks and is carried out on several stages. The purpose of this stage is a development of the structure of a hybrid model, development of an algorithm used in the diffusion module and one-dimensional heat flow and diffusion modeling. Generally, the processes of phase transformations are studied well enough but there are not many tools for their complex simulations. The problems of phase transformation simulation are related to the proper consideration of diffusion, movement of phase boundaries and kinetics of transformation. The proposed new model at the final stage of development will take into account the varying grain growth rate, different shape of growing grains and will allow for proper modeling of heat flow and carbon diffusion during the transformation in many processes, where heating, annealing and cooling can be considered (e.g. homogenizing and normalizing).
Design/methodology/approach
One of the most suitable methods for modeling of microstructure evolution during the phase transformation is cellular automata (CA), while lattice Boltzmann method (LBM) suits for modeling of diffusion and heat flow. Then, the proposed new hybrid model is based on CA and LBM methods and uses high performing parallel computations.
Findings
The first simulation results obtained for one-dimensional modeling confirm the correctness of interaction between LBM and CA in common numerical solution and the possibility of using these methods for modeling of phase transformations. The advantages of the LBM method can be used for the simulation of heat flow and diffusion during the transformation taking into account the results obtained from the simulations. LBM creates completely new possibilities for modeling of phase transformations in combination with CA.
Practical implications
The studies are focused on diffusion phase transformations in solid state in condition of low cooling rate (e.g. transformation of austenite into ferrite and pearlite) and during the heating and annealing (e.g. transformation of the ferrite-pearlite structure into austenite, the alignment of carbon concentration in austenite and growth of austenite grains) in carbon steels within a wide range of carbon content. The paper presents the comprehensive modeling system, which can operate with the technological processes with phase transformation during heating, annealing or cooling.
Originality/value
A brief review of the modeling of phase transformations and a description of the structure of a new CA and LBM hybrid model and its modules are presented in the paper. In the first stage of model implementation, the one-dimensional LBM model of diffusion and heat flow was developed. The examples of simulation results for several variants of modeling with different boundary conditions are shown.
Details
Keywords
Lei Gong, Zhiying Liu, Yanzhen Rong and Lihua Fu
The purpose of this study is to explore how inclusive leadership promotes organizational performance through ambidextrous innovation (i.e. exploratory and exploitative…
Abstract
Purpose
The purpose of this study is to explore how inclusive leadership promotes organizational performance through ambidextrous innovation (i.e. exploratory and exploitative innovation). Moreover, the authors examine the moderating role of environmental uncertainty in the relationship between inclusive leadership and ambidextrous innovation.
Design/methodology/approach
This study conducted a questionnaire survey of high-tech enterprises in China and obtained 325 useable samples. The hypotheses were tested using latent path analysis and ordinary least squares regression.
Findings
The results indicate that exploratory and exploitative innovations mediate the relationship between inclusive leadership and organizational performance. Moreover, environmental uncertainty positively moderated the relationship between inclusive leadership and exploitative innovation.
Practical implications
Managers should value the critical role of inclusive leadership in promoting exploratory and exploitative innovation, which in turn improves organizational performance. Meanwhile, managers need to pay attention to the risk caused by environmental uncertainty.
Originality/value
This paper extends the influence of inclusive leadership on innovation from the individual level to the organizational level and reveals the influence mechanism of inclusive leadership on organizational performance. In addition, this study supplements the knowledge regarding the boundary conditions under which the influence of inclusive leadership is strengthened or weakened.
Details
Keywords
Jinfan Zhou, Puwen Shang, Guanglei Zhang, Youqing Fan and Rong Ma
More and more literature points out that compared to fragmented strategic HRM, interactive or internally consistent HR systems can generate synergies and more effectively predict…
Abstract
Purpose
More and more literature points out that compared to fragmented strategic HRM, interactive or internally consistent HR systems can generate synergies and more effectively predict employee outcomes. Different HR subsystems (such as performance-oriented and maintenance-oriented HRM practices), respectively, play a critical role for organizations and employees. However, the impact of the synergy effect of different practices within the HRM system is less concerning to researchers. Based on self-regulation theory, this paper explores the congruence effects within the dual-oriented HR system on employee ethical behaviors (prosocial/unethical behavior).
Design/methodology/approach
Data were collected in a two-wave survey from 252 employees working in high-tech and service companies in China. Polynomial regression and response surface analyses were used to examine the hypotheses.
Findings
The results indicate that the internal congruence of performance-oriented and maintenance-oriented HRM practices is positively related to employees’ prosocial behavior but negatively related to employees’ unethical behavior. Employees have more prosocial behavior and less unethical behavior when they perceive the high-performance-oriented and high-maintenance-oriented HRM practices than the low-performance-oriented and low-maintenance-oriented HRM practices. Employees also have more prosocial behavior and less unethical behavior when they perceive the low performance-oriented and high maintenance-oriented HRM practices than the high performance-oriented and low maintenance-oriented HRM practices.
Originality/value
Drawing on self-regulation theory and the “Yin-Yang balancing” perspective, this paper extends the limited understanding of the influence of dual-oriented HR system internal congruence between performance-oriented and maintenance-oriented HRM practices on employee behaviors. This paper is of great significance for a better understanding of the complexity and potential of HR systems.
Details
Keywords
Ci-Rong Li, Chun-Xuan Li and Chen-Ju Lin
The purpose of this paper is to test how team regulatory focus may relate to individual creativity and team innovation; and address the fit/misfit issue of team regulatory focus…
Abstract
Purpose
The purpose of this paper is to test how team regulatory focus may relate to individual creativity and team innovation; and address the fit/misfit issue of team regulatory focus and team bureaucracy.
Design/methodology/approach
The authors collected data from 377 members and their leaders within 56 R&D teams in two Taiwanese companies.
Findings
A team promotion focus was positively related, whereas a team prevention focus was negatively related, to both team innovation and member creativity through team perspective taking and employee information elaboration, respectively. Furthermore, team bureaucracy played a moderating role that suppressed the indirect relationship between team regulatory focus and creativity.
Originality/value
This is one of first studies to explore an underlying mechanism linking team regulatory focus and both team innovation and member creativity. The authors provide a more complete view of the creative and innovation implications of team-level self-regulation.
Details
Keywords
Value cocreation has become an important way to enhance the brand equity of a tourism destination. Different from common tourism contexts, agritourism has strong participatory and…
Abstract
Purpose
Value cocreation has become an important way to enhance the brand equity of a tourism destination. Different from common tourism contexts, agritourism has strong participatory and productive characteristics and is regarded as a critical platform of value cocreation. Therefore, this paper aims to explore the relationship between agritourism experience value cocreation and brand equity of rural tourism destinations from the perspective of tourists.
Design/methodology/approach
A questionnaire survey was conducted, and 602 valid questionnaires were collected by a random sample in 2021. Structural equation modeling was used to empirically analyze the data.
Findings
The results revealed that tourists’ participation, interaction and citizenship behaviors play a critical role in brand equity of rural tourism destinations. Meanwhile, tourists’ interaction and citizenship behaviors influenced brand equity of rural tourism destinations, via hedonic enjoyment and eudaimonia experience, and perceived experience value. Tourists’ participation behavior influenced brand equity of rural tourism destinations via hedonic enjoyment experience and perceived experience value.
Originality/value
This study focusing on agritourism as a critical platform of value cocreation explores the impact of agritourism experience value cocreation on brand equity of rural tourism destinations from the perspective of tourists. It enriches the existing literature on the relationship between value cocreation and brand equity of tourism destination, expands the research on value cocreation and happiness experience and also provides management basis for promoting brand equity of rural tourism destinations.
目的
价值共创已成为提升旅游目的地品牌资产的重要途径。与一般的旅游情境不同, 农业旅游具有强烈的参与性和生产性特征, 被视为价值共创的重要平台。因此, 本文基于游 客视角探讨了农业旅游体验价值共创与乡村旅游目的地品牌资产之间的内在关系。
设计/方法/步骤
本文于2021 年实施问卷调查, 随机抽取602 份有效问卷。结构方程模 型用于实证分析数据。
研究结果
游客参与、互动和公民行为对乡村旅游目的地品牌资产具有关键作用。同时, 游客互动和公民行为通过享乐型和实现型体验以及感知体验价值影响乡村旅游目的地品牌 资产。游客参与行为通过享乐型体验和感知体验价值影响乡村旅游目的地品牌资产。
独创性/价值
本研究将农业旅游作为价值共创的重要平台, 基于游客视角探讨了农业旅游 体验价值共创对乡村旅游目的地品牌资产的影响, 丰富了价值共创与旅游目的地品牌资产 关系的文献, 拓展了价值共创与快乐体验的研究, 为促进乡村旅游目的地品牌资产提供了 管理依据。
Propositus
La cocreación se ha convertido en una forma importante de mejorar el valor de marca de un destino turístico. A diferencia de los entornos turísticos comunes, el agroturismo tiene fuertes características participativas y productivas, y se considera una plataforma indispensable de cocreación de valor. Este artículo explora la relación entre la cocreación de valor de la experiencia de agroturismo y el valor de marca de los destinos de turismo rural desde la perspectiva de los turistas.
Diseño/metodología/método
Se realizó una encuesta y se recogieron 602 cuestionarios válidos mediante un muestreo aleatorioa en 2021. Se utilizó un modelo de ecuaciones estructurales para analizar empíricamente los datos.
Resultados
Los resultados revelaron que la participación e interacción de los turistas y los comportamientos de la ciudadanía juegan un papel crítico en el valor de marca de destinos de turismo rural. La interacción de los turistas y los comportamientos de la ciudadanía impactaron el valor de marca de destinos de turismo rural a través del disfrute hedónico, la experiencia eudaimonia y el valor percibido de la experiencia. El comportamiento de participación de los turistas influyó en el valor de marca de los destinos de turismo rural a través de la experiencia hedónica de disfrute y el valor percibido de la experiencia.
Originalidad/valor
Este estudio, centrado en el agroturismo como plataforma importante para la cocreación de valor, explora el impacto de la cocreación de valor de la experiencia de agroturismo en el valor de marca de destinos de turismo rural desde la perspectiva de los turistas. Enriquece la literatura existente sobre la relación entre la cocreación de valor y el valor de marca de los destinos turisticos, expande la investigación sobre la cocreación de valor y la experiencia de felicidad, y ofrece también bases de gestión para promover el valor de marca de destinos de turismo rural.
Details
Keywords
Since China’s “opening-up” in the late 1970s, Singapore has played a major role in enhancing China’s engagement with the world, especially in economic terms. This traditional…
Abstract
Purpose
Since China’s “opening-up” in the late 1970s, Singapore has played a major role in enhancing China’s engagement with the world, especially in economic terms. This traditional relationship is well manifested in the third government-to-government (G–G) project under the BRI, which is known as the Chongqing Connectivity Initiative (CCI). The purpose of this paper is to address the following question: despite Singapore’s initial reluctance to agree on a third G–G project with China, why did Singapore eventually decide to join the CCI?
Design/methodology/approach
This paper draws on archives of over 700 Chinese language media reports and over 400 English language media reports, as well as private interactions with scholars interested in Sino-Singapore relations and with both sides’ officials in charge of the CCI project.
Findings
The paper finds that it is the goal of connecting the region, along with the need to maintain Singapore’s relevance to China and the regional economy that led to Singapore’s participation in the third G–G project. This paper also uses this case to analyse the changes that are taking place in the bilateral economic relations.
Originality/value
Despite wide media coverage, op-ed commentaries and respective government statements, there are a limited number of academic studies on the rationale of the third G–G project and contemporary Sino-Singapore relations in the literature. The scholarship has not addressed the rationale for Singapore’s changing attitude towards CCI and the manner in which the CCI has improved cooperation (or upgraded cooperation to a broader and regional level).
Details
Keywords
Ci-Rong Li, Yanyu Yang, Chen-Ju Lin and Ying Xu
This research adopts a dynamic self-regulation framework to test whether there is a curvilinear relationship between creative self-efficacy and individual creative performance at…
Abstract
Purpose
This research adopts a dynamic self-regulation framework to test whether there is a curvilinear relationship between creative self-efficacy and individual creative performance at the within-person level. Furthermore, to establish a boundary condition of the predicted relationship, the authors build a cross-level model and examine how approach motivation and avoidance motivation moderate the complex relationship between creative self-efficacy and individual creative performance.
Design/methodology/approach
To obtain results from a within-person analysis, the authors collect multi-source data from 125 technicians who provided monthly reports over an 8-month period.
Findings
The authors find evidence of an inverted U-shaped relationship between creative self-efficacy and individual creative performance at the within-person level and differential moderating effects of approach/avoidance motivations.
Originality/value
This study is one of the first to challenge the assumption that creative self-efficacy always has a positive linear relationship with creativity. It provides a more complete view of the complex pattern between creative self-efficacy and creativity at the within-person level.
Details
Keywords
Bao-Da Xu, Shu-Kuan Zhao, Ci-Rong Li and Chen-Ju Lin
The purpose of this paper is to test a multilevel framework to further explicate how team leaders’ authentic leadership is related to their followers’ individual creativity.
Abstract
Purpose
The purpose of this paper is to test a multilevel framework to further explicate how team leaders’ authentic leadership is related to their followers’ individual creativity.
Design/methodology/approach
This study is based on a questionnaire survey/analysis of analyses of multisource and lagged data from 63 team leaders and 428 followers in Taiwan.
Findings
The findings demonstrated that leader-member exchange (LMX) and team psychological safe climate mediated the positive relationship of authentic leadership on followers thriving at work. Furthermore, employee thriving at work sequentially mediated the positive relationship between authentic leadership and employee creativity. The author also found that indirect relationship of LMX with employee creativity through thriving at work was stronger when authentic leadership was higher.
Originality/value
The authors contribute to the existing understanding that authentic leadership relates to individual creativity through three multilevel mechanisms: leaders modeling their authenticity to develop and maintain their dyad-level exchange relationships with their followers (LMX), motivating the team, captured by team-level psychological safe climate and its members, reflected by employee-level thriving at work, and facilitating the relationship between LMX and employee thriving at work.