M Wu

In this study, we examine the equity premium of seventeen nonfinancial sectors covering sample 306 firms using monthly data from January 2002 to December 2018. Two-stage least square method is applied to estimate the macro-based multifactor model. It is found that the market premium and the interest rate factors are significantly affecting the industry equity premium of all the nonfinancial sectors. However, there exists a positive effect of other macroeconomic variables such as money supply, foreign direct investment, and industrial production which is different for the different sectors based on its nature of product and services they offered. The industries based on their product development which are linked to particular macroeconomic variables have more effect than others such as increase in money supply which cannot increase the sale of pharmaceutical products until needed. Similarly, an interesting insight reveals that industries producing seasonal goods, e.g., food producing, are not very much affected by macroeconomic variables but the change in seasons and similar results also revealed for tobacco industry.

Work procrastination is a retreat behavior associated with negative cognitive experience and it results in great losses to individual as well as organizational development. Understanding the antecedents of employees’ work procrastination behavior contributes to lower frequency of its occurrence. This research builds a dual-moderated mediation model from the perspective of cognitive appraisal theory and explored work procrastination behavior of employees subjected to abusive supervision. With 378 valid returned questionnaires, data collected from 32 companies in Beijing, Shanghai, Tianjin, and Chongqing supports our hypotheses. This result has enriched the understanding of work procrastination behavior and provided practical implications to avoide its negative effects.

The current study mainly explored the influence of fluid intelligence and emotional intelligence on affective decision-making from a developmental perspective, specifically, during the transition from childhood into early adolescence. Meanwhile, their age-related differences in affective decision-making were explored. A total of 198 participants aged 8–12 completed the Iowa Gambling Task, the Cattell’s Culture Fair Intelligence Test and the Trait Emotional Intelligence Questionnaire-Child Form. Based on the net scores of IGT, the development of affective decision-making ability did not increase monotonically with age, and there was a developmental trend of an impaired IGT performance in early adolescence, especially in the early learning phase of the IGT. More importantly, IQ and EI played different roles for children and early adolescents: IQ and EI jointly predicted the IGT performance for 8–10 years old children, whereas only EI contributed to the IGT performance of 11–12 years old early adolescents. The present study extends the evidence how cognitive processing and emotional processing interact in affective decision-making from the developmental perspective. Furthermore, it provides insights of future research and intervention with early adolescents’ poor affective decision-making.

Consumers play an important role as one of the main actors in food safety social co-governance. To create a pattern of food safety social co-governance, the active and effective participation of consumers is critical. To encourage consumers to participate in food safety social co-governance voluntarily and positively, we attempted to develop and preliminarily validate a multidimensional questionnaire on consumer psychological capital that could be used to measure the degree of consumer participation in food safety social co-governance. The aim of the initial sample and test sample 2 was to investigate the factor structure of a preliminary measure of consumer psychological capital. A 4-factor model with 23 items explained 61.05% of the total variance in item scores. The aim of test sample 3 was to measure the retest reliability. Test sample 4 was randomly allocated to the modeling sample and validation sample to verify questionnaire reliability and validity. Convergent validity, discriminant validity, and the internal inconsistency coefficients of the questionnaire were assessed in the modeling sample. While processing CFA, we deleted 9 items with small standardized factor loadings. The remaining 14 items in the final revised 4-factor model included self-efficacy, resilience, hope, and optimism. The fit indices of the revised four-factor model and second-order factor model in the modeling sample revealed an acceptable model fit. The convergent validity and discriminant validity of the revised model were good and acceptable, respectively. A cross-validation procedure confirmed the appropriateness of the revised four-factor model and second-order factor model in the validation sample. The cross-validation results confirmed that the fit indices of the revised four-factor model fitted the data well and the second-order factor model in the validation sample reached acceptable values. We concluded that the questionnaire developed in this study had good reliability and stable and acceptable construct validity. It could provide a theoretical basis for measuring psychological capital in food safety co-governance.

Customers are skeptical about shopping online because e-commerce environments are typically considered impersonal. To assure product quality and to enhance customer proclivity in such environments, post-sale services may be considered to alleviate customers’ skepticism. Therefore, this study’s objective is to investigate the role of an online retailer’s post-sale services on customers’ attitudinal and behavioral aspects. Structural equation modeling is applied to data collected through an online survey answered by 409 online customers of jd.com. Research findings show that product return, exchange, and maintenance services are strongly predictive of online customer satisfaction, and satisfaction significantly impacts customer trust. Both customer satisfaction and trust, as indicators of relationship quality, further mediate the links between product return, exchange, and maintenance services and online customer repurchase intention. In addition, differences between male and female customers were found in various aspects of online retailers’ product return, exchange, and maintenance services. This is the first empirical study that not only examines the influence of all three dimensions of online retailers’ post-sale services on customers’ online shopping perceptions and decisions, but also considers differences between male and female customers. Finally, this research provides theoretical and managerial implications based on conceptual and empirical evidence.