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Aiming to investigate the direct and indirect effects of community involvement on residents’ life satisfaction, this study builds a conceptual framework through the mediation effect of perceived impacts and trust in government based on social exchange theory. The moderating effect of place attachment among these variables is proposed and empirically examined.

The conceptual model and causal relationships were estimated by adopting structural equation modeling, a serial mediation and moderation analysis. A total of 362 valid questionnaire data from residents in five rural tourism communities of China were collected and used for data analysis.

The results indicate that residents’ community involvement directly influences their life satisfaction and indirectly through perceived benefits and trust in government. Place attachment is also found to moderate the effect of community involvement on residents’ life satisfaction.

This study tests the effect of community involvement on residents’ life satisfaction that evolves from linking community involvement to perceived tourism impacts and trust in government to increase life satisfaction within the rural tourism context. It simultaneously detects place attachment as a moderating variable. The findings of this study can provide valuable insights for rural tourism managers to improve residents’ life satisfaction.

为了探究社区参与对居民生活满意度的直接和间接影响, 本研究基于社会交换理论构建了通过感知影响和政府信任作为中介效应的理论模型。同时, 提出并实证检验了地方依恋在这些变量关系中的调节作用。

采用结构方程模型和一系列的中介和调节分析来估计概念模型和变量之间的因果关系。从中国五个乡村旅游社区收集了362份有效问卷并进行数据分析。

结果显示, 居民的社区参与不仅直接影响他们的生活满意度, 并且通过感知收益和政府信任对他们的生活满意度产生间接影响。研究还发现,地方依恋可以调节社区参与对居民生活满意度的影响关系。

本研究探讨了乡村旅游可持续发展中社区参与对生活满意度的影响, 这种影响从链接社区参与与旅游感知效应到政府信任, 从而提高生活满意度,同时检验了地方依恋的调节作用。本研究能够为乡村旅游管理者提高居民生活满意度提供有价值的建议。

Con el objetivo de investigar los efectos directos e indirectos de la participación de la comunidad en la satisfacción con la vida de los residentes, este estudio construye un marco conceptual a través del efecto mediador de los impactos percibidos y la confianza en el gobierno basado en la teoría del intercambio social. Se propone y examina empíricamente el efecto moderador del apego local entre estas variables.

La relación causal entre el modelo conceptual y la estructura se estima a través del modelo de ecuación estructural, y se lleva a cabo una serie de análisis de mediación y regulación. Los datos fueron recolectados de 362 cuestionarios válidos de cinco comunidades de turismo rural en China.

Los resultados muestran que la participación comunitaria de los residentes influye directamente en su satisfacción con la vida, e indirectamente a través de sus ingresos percibidos y la confianza en el Gobierno. El estudio también encontró que el apego local puede regular la participación de la comunidad en la satisfacción de los residentes con la vida.

Este estudio explora el impacto de la participación comunitaria en la satisfacción con la vida en el desarrollo sostenible del turismo rural, que va desde la vinculación de la participación comunitaria y la percepción turística hasta la confianza del Gobierno, mejorando así la satisfacción con la vida. Al mismo tiempo, se examina la función reguladora del apego local. Los resultados de este estudio proporcionan información de referencia valiosa para que los administradores del turismo rural mejoren la satisfacción de los residentes con la vida.

Employee Stock Options are the most widely used incentive compensation tool, and prior research has shown their advantages. However, research among different peer groups, different time frames, different research methodologies, and the constantly changing public opinion prevents unanimous agreements on the various benefits of Employee Stock Options. In this paper we apply a number of research hypotheses tested in recent US studies to a European sample of EuroStoxx 50 companies. Due to the globalisation, the similar accounting regulations and the IT and telecommunications revolu tions, Europe and the United States have grown closer together than ever before and are expected to display similar business practices. This assessment should be especially relevant for the large European companies, which mostly have a dual listing in the United States and are therefore essentially forced to manage according to American practices. How ever, the results differ significantly from the existing US research, providing insufficient grounds to accept previous findings for European companies.

Suggests that misunderstandings frequently occur when trying to understand Chinese language and culture, and so gives the implied meaning of various Chinese expressions and sayings such as greetings, thanks, respect, age, congratulations and taboo subjects.

This study proposed a research model for verifying the structural relationships among users' perceived spatial presence (VR affordance), situational interest (affective factor) and behavioral attitudes (outcome) toward online virtual museum navigation. What role of situational interest plays in the relationships between spatial presence and outcomes was further examined.

There were 141 adults invited to participate in the research trials on the navigation of the online virtual museum which was established by 3D space capture techniques. This study conducted a series of PLS-SEM to analyze the participants' quantitative responses to the surveys of spatial presence, situational interest and attitudes.

The testing of reliability and validity for the measurement model of this study was satisfied. The significance of users' perceived situational interest: attention demand, instant enjoyment and exploration intention when navigating the online virtual museum with perceptions of spatial presence were identified. The mediation of situational interest in the relationships between spatial presence and behavioral attitudes were also verified.

For the practical design of desktop-based online virtual museums, it is suggested that more engaging strategies such as narrative storytelling and gamified interaction could be integrated to enhance users' situational interest including attention demand, instant enjoyment and exploration intention.

Through the examination of situational interest from multiple constructs, the research model of this study advanced the conceptual framework for understanding the consequences of VR affordance in online virtual museum navigation. The theoretical contribution to verifying the mediated role of situational interest was made.

The purpose of this paper is to explore how outside directors' experience and their compensation affect firm performance through the quality of their monitoring and advising, when traditional board structure devices do not seem to work well.

First, the authors use a two‐way fixed effects (FE) regression model to explore the effects of outside director experience and compensation on firm performance. Second, in order to address the potential endogeneity problem of outside director compensation, the authors adopt two‐stage least squares regression (2SLS).

Controlling for other potentially influential variables, it is found that outside director experience and outside director compensation have an economically positive impact on a firm's accounting and market performance. Even when taking into account the endogeneity problem of outside director compensation, outside director compensation and experience still have positive effects on firm performance, consistent with the authors' predictions.

It is inferred that regulators are able to ask publicly owned firms to provide outside director's experience and compensation in detail. In addition, future research should investigate the social relationships between outside directors, which also affect the functions of monitoring and advising.

First, this paper contributes to this area of the extant literature by simultaneously considering the direct impacts arising from the outside director's experience and compensation. Second, the paper highlights the importance of considering multiple dimensions of director's experience in assessing its effects on firm performance.

Notes increasing consolidation of the banking industry in the USA, Western Europe and Japan; and presents a study of 1980‐1994 acquisitions of US banks by large interstate banking firms. Considers possible motives for cross‐border expansion, reviews relevant research and compares the performance of target banks with their local competitors and their buyers; and buyers’ performance with their competitors. Finds that most buyers are located in rich, densely populated states and most targets in states which have traditionally restricted bank branching activity; that buyers and targets have very different performance profiles (although some differences gradually reduce after acquisition); and that local market influences have a greater effect than common ownership. Concludes that targets are selected for their location and expected future performance, with possible diversification benefits.

The primary aim of this paper is to investigate the nature, degree and direction of the effects of certain classes of corporate ownership on capital structure decisions among firms.

Using a sample of 71 quoted companies in Nigeria, the study adopts panel fixed effects regression models to estimate the relationship between financial leverage and corporate ownership, while controlling for some firm‐specific characteristics like profitability, firm size and firm age.

The study finds that discrimination between indigenous and foreign firms is a major determinant of financial leverage in Nigeria; and that the consistency of empirical results and capital structure theories across countries depends much on the dominant nature of corporate ownership structure.

An attempt to widely generalize the results of this study may be challenged by its relatively small sample. With data from just a sample of 71 firms, the robustness of the country‐, time‐ and company‐ effects may not have been fully captured in the estimation process.

The paper provides necessary platforms, especially to corporate managers, for aligning financing decisions and ownership structure to other structural characteristics such as size, age, and profitability.

The study is unique because it examines ownership effects on leverage using selected ownership classes; and because it focuses on an economy with harsh corporate operating environment and constrained capital market condition..

The purpose of this paper is to evaluate the impact of minority shareholders’ attendance at shareholders meetings on related party transaction (RPT) proposals.

This paper empirically examines the impact of minority shareholders’ attendance in shareholders’ meetings on the voting results of RPT proposals based on the hand-collected voting data of Chinese listed companies.

The empirical result shows a significant positive relationship between the attendance of minority shareholders and the nonagreeable vote rate of RPT proposals. Moreover, this positive relationship is strengthened when the corporate governance is poor, the negative media coverage is high, and the on-site attendance of minority shareholders is high. Conversely, good corporate governance and high positive media coverage can weaken this positive correlation. The additional analysis reveals that the number of RPTs and better market performance in the future can be significantly reduced when minority shareholders express their nonagreeable voice actively.

This paper analytically and empirically examines the impact of minority shareholders’ attendance in shareholders’ meetings on the voting results of RPT proposals based on the hand-collected voting data of Chinese listed companies. It provides direct and convincing evidence for the impact of minority shareholders’ attendance and exercise of voting rights in shareholders’ meetings on the outcome of RPT proposals. It complements the literature on the governance effects of minority shareholders’ attendance in shareholders’ meetings to exercise their voting rights in emerging capital markets. This study has practical value by guiding minority investors to participate actively in corporate governance.

Sustainable property development has increased in market share over the past two to three years globally and locally. This research aims to analyze the drivers and barriers to sustainable property development in Melbourne using the triple bottom line (TBL) theoretical framework. The TBL posits that sustainability has social, economic and environmental aspects to fulfil.

A questionnaire was sent out to 190 developers in Melbourne who promoted sustainable property development to ascertain their views about the drivers and barriers.

This research indicates that in the 2007 Melbourne market the drivers were social rather than economic. The data reveal that social reasons are considered more than economic arguments for incorporating sustainability into developments. The business case, or the economic drivers for sustainability alone do not convince developers.

The questionnaire survey informed us about developers' views but not why they have these views. The sample was limited to Melbourne.

More developments are required for developers to become convinced of the benefits. The relatively low price of energy undermines the business case for sustainability in property here and needs to be fully costed.

This paper illustrates that whilst the theoretical framework cites three key areas for sustainability, the reality is that developers are currently driven by social and environmental factors primarily and the business case is not accepted by the majority of developers.