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The purpose of this paper is to investigate the interaction effect between customer satisfaction and monetary incentives on online reviews and test the moderating effect of personal characteristics, filling the research gap in online review behavior from the senders.

Using a project role-playing technique that is widely applied in the marketing field, the authors conducted two experimental studies in a laboratory setting with student subjects and collected 390 and 362 acceptable samples for analysis in Studies 1 and 2, respectively.

This research confirms the positive effects of satisfaction and incentives on review scores and tests the interaction effect between satisfaction and incentives on review scores with the moderating effects of moral judgment and sensitivity of promotion. Incentives could strengthen customers’ review scores except under small incentives situation where dissatisfied customers decrease scores instead. Additionally, the moderating effects of moral judgment and sensitivity of promotion are more significant in the case of dissatisfaction.

As this study focuses exclusively on a single service context and uses student samples, limitations persist regarding the generalizability of the results.

The research provides new insights for marketers on designing effective incentive programs, as well as how to better balance costs and benefits in promotion strategies.

This is one of the first studies to explore the interaction effect between satisfaction and incentives on online reviews considering the moderating effects of moral judgment and sensitivity of promotion. As a result, a new model is forwarded.

The purpose of this paper is to construct some negative grey relational analysis models to measure the relationship between reverse sequences.

The definition of reverse sequence has been given at first based on analysis of relative position and change trend of sequences. Then, several different negative grey relational analysis models, such as the negative grey similarity relational analysis model, the negative grey absolute relational analysis model, the negative grey relative relational analysis model, the negative grey comprehensive relational analysis model and the negative Deng’s grey relational analysis model have been put forward based on the corresponding common grey relational analysis models. The properties of the new models have been studied.

The negative grey relational analysis models proposed in this paper can solve the problem of relationship measurement of reverse sequences effectively. All the new negative grey relational degree satisfying the requirements of normalization and reversibility.

The proposed negative grey relational analysis models can be used to measure the relationship between reverse sequences. As a living example, the reverse incentive effect of winning Fields Medal on the research output of winners is measured based on the research output data of the medalists and the contenders using the proposed negative grey relational analysis model.

The definition of reverse sequence and the negative grey similarity relational analysis model, the negative grey absolute relational analysis model, the negative grey relative relational analysis model, the negative grey comprehensive relational analysis model and the negative Deng’s grey relational analysis model are first proposed in this paper.

We demonstrate in a laboratory experiment that the effectiveness of performance-contingent incentives is inversely related to risk-aversion levels. For about 16.5% of participants, performance fails to improve under performance-pay, and the probability of such failure increases with risk-aversion. This phenomenon works in part through the reduced effort level of more risk-averse individuals when effort level is positively correlated with risk exposure. It is also associated with higher self-reported levels of stress by more risk-averse people working under performance-contingent pay. We find no evidence of such stress causing decrements in the quality of effort affecting performance after controlling for effort level. However, controlling for effort, more risk-averse participants perform better under a fixed salary, leaving less room for improvement under performance-pay.

The purpose of this paper is to investigate the relationship between the characteristics of the incubation industry, government funding, and the intensity of funding for different services. Because the incubation industry has particular characteristics, government funding varies for different services, and its intensity varies with service.

Government funding is classified as incubation subsidy and incubation incentive. Besides, incubation services include property management, business mentoring as well as investment and financing. Based on this, this study examines the influence mechanism of different subsidy and incentive on incubation services by using the generalized propensity score matching method.

The empirical results show that subsidy and incentive have an inverse-U shape effect on property management service, but a linear effect on business guidance service. Furthermore, subsidy does not affect investment and financing service, but incentive that can have a significant impact.

The theme of government funding and incubator services plays an important role in helping entrepreneurs expand their businesses. Incubation subsidy and incentive can provide important support to help enterprises obtain more preferential loans, technical services and technical support in the incubator. Applying it to incubator services can provide better technology and entrepreneurship guidance. These services can help new entrepreneurs understand products and markets, and how to develop more successfully in the early stage. In short, incubators supported by government funds can provide important support to entrepreneurs to help them successfully realize their business plans.

The purpose of this paper is to empirically examine whether corporate insiders extract information from activity of outsiders, specifically the short sellers.

Using portfolio approach and Fama-MacBeth regressions, this study examines the relation between short interest and subsequent insider trading activities.

The following results are reported. First, there is a strong inverse relation between short selling and subsequent insider trading, which is partially due to common private information and same target firm characteristics. Second, insiders extract information from shorts. This information extraction effect is more pronounced for firms whose insiders have stronger incentives to extract shorts information (insider purchases, higher short sale constraints, and better information environments). Third, during the September 2008 shorting ban, the information extraction affect disappeared among the large banned firms, whose shorting activities were distorted.

The findings contradict the of-cited accusations corporate executives hold against short sellers. Instead, corporate insiders appear to trade in the same direction as suggested by shorting activities.

Among the vocal critics of short sellers are corporate insiders, who allege that short sellers beat down their stock prices. Many corporations even engage in stock repurchases to show confidence that the stock will perform well going forward despite the short sellers’ actions. This paper’s analysis on their personal portfolios suggests the other way around.

By focusing on how corporate insider trading is related to shorts information, this paper sheds new light on whether corporate decisions convey the true information the corporate insiders possess.

We take Cumulative Prospect Theory (CPT) seriously by rigorously estimating structural models using the full set of CPT parameters. Much of the literature only estimates a subset of CPT parameters, or more simply assumes CPT parameter values from prior studies. Our data are from laboratory experiments with undergraduate students and MBA students facing substantial real incentives and losses. We also estimate structural models from Expected Utility Theory (EUT), Dual Theory (DT), Rank-Dependent Utility (RDU), and Disappointment Aversion (DA) for comparison. Our major finding is that a majority of individuals in our sample locally asset integrate. That is, they see a loss frame for what it is, a frame, and behave as if they evaluate the net payment rather than the gross loss when one is presented to them. This finding is devastating to the direct application of CPT to these data for those subjects. Support for CPT is greater when losses are covered out of an earned endowment rather than house money, but RDU is still the best single characterization of individual and pooled choices. Defenders of the CPT model claim, correctly, that the CPT model exists “because the data says it should.” In other words, the CPT model was borne from a wide range of stylized facts culled from parts of the cognitive psychology literature. If one is to take the CPT model seriously and rigorously then it needs to do a much better job of explaining the data than we see here.

The purpose of this study is to investigate the link between top management team (TMT) gender diversity and firm risk-taking in hospitality companies. The study also links female leadership to risk-taking. Finally, this study examines the moderating effects of TMT incentive pay and TMT age on the relationship between TMT gender diversity and firm risk-taking.

This study uses an unbalanced data set of 81 hospitality firms and 888 firm-year observations over the period of 1992–2020. The study uses fixed-effects regression estimation for primary analyses and addresses potential endogeneity concerns via two-stage least square regression with firm fixed-effects instrumental variable regression. Risk-taking is measured by total firm risk (i.e. the annualized volatility of daily stock returns). Main results are supported with alternative measures of firm risk and estimation methods.

The study finds that increasing TMT gender diversity leads to a reduction in firm risk-taking in the hospitality industry. Moreover, the study finds that hospitality firms led by a female CEO experience lower firm risk compared to firms led by a male CEO. Finally, the study finds evidence that the relationship between TMT gender diversity and firm risk is contingent on the level of incentive pay awarded to TMT members and the age of TMT members. Increasing incentive pay and aging executive teams decrease the risk reduction effect of TMT gender diversity.

The findings of this study recommend that firm risk-taking in the hospitality industry is related to gender diversity in TMTs. Hence, the board of directors should pay attention to gender composition for executive positions for risk management. Moreover, the results also suggest that care should be exercised when using incentive pay to align the interests of managers and shareholders. Finally, the board of directors needs to consider both gender diversity and age of the TMT members for TMT composition to manage executives’ risk-taking behavior.

This study fills a research gap in the hospitality literature by providing empirical evidence for the link between TMT gender diversity and firm risk-taking. Additionally, the study introduces incentive pay and age of TMT as contingency factors for the link between TMT gender diversity and firm risk-taking.

The purpose of this paper is to explore the effects of organizational rewards on two forms of knowledge sharing – explicit knowledge sharing and tacit knowledge sharing in virtual communities, and further to explore the mediating effect of intrinsic motivation on the effect of virtual community rewards on implicit knowledge sharing.

Based on relevant knowledge sharing theories, this study develops an integrated framework to explore virtual community rewards and tacit and explicit knowledge sharing in a virtual context. This study then collected data from 429 virtual community users in four virtual communities via an online survey. Hierarchical regression analyzes were used to test the proposed research model.

The results of this study show that virtual rewards have a significantly positive linear relationship with explicit knowledge sharing but have an inverse U-shape relationship with tacit knowledge sharing in virtual communities. In addition, intrinsic motivations including enjoyment and self-efficacy mediate the relationship between rewards and tacit knowledge sharing.

This study suggests more virtual community rewards may not always lead to more tacit knowledge sharing. Instead, too many rewards may weaken the motivation for tacit knowledge sharing. Knowledge management practitioners should make full use of the positive impact of self-efficacy and enjoyment to set up appropriate reward incentives to encourage knowledge-sharing, in particular, tacit knowledge sharing and to better manage virtual communities.

This study explores knowledge-sharing behavior in virtual communities, an important step toward more integrated knowledge-sharing theories. While online communities have become increasingly important for today’s knowledge economy, few studies have explored knowledge and knowledge sharing in a virtual context and this study helps to bridge the gap. In addition, this study develops an integrated framework to explore the mechanism through which virtual community rewards affect knowledge sharing with intrinsic motivation mediating this relationship in online communities, which further enriches the understanding on how to use virtual rewards to motivate knowledge sharing behaviors in the virtual context.

In this paper, we review the literature on pay variation (e.g., pay dispersion, pay compression, pay range) in organizations. Pay variation research has increased markedly in the past two decades and much progress has been made in terms of understanding its consequences for individual, team, and organizational outcomes. Our review of this research exposes several levels-related assumptions that have limited theoretical and empirical progress. We isolate the issues that deserve attention, develop an illustrative multilevel model, and offer a number of testable propositions to guide future research on pay structures.

This paper aims to examine the impact of executive compensation on firm risk-taking behavior, measured by the volatility of stock price returns. Specifically, this analysis explores three hypotheses. First, the impact of short-term and long-term executive compensation packages on firm risk is analyzed to assess whether the packages incentivize risk-taking behavior. Second, the authors test how these compensation and risk relationships were impacted by the financial crisis. Third, they expand the analysis to see if the relationship varies across different industries.

The econometric approach used to examine the executive compensation and firm risk relationship takes the form of two different panel model specifications. The first model is a pooled model using the panel data of executive compensation, the firm-level control variables and volatility of stock market returns. The second model highlights the differences in the relationship between executive compensation and riskiness of firm behavior across industries.

The authors find a significant and robust relationship, showing that during the post-financial crisis period firms tended to use long-term compensation shares to reduce firm risk. They also find that the relationship between various compensation components and firm risk varies across industries. Specifically, the bonus share of compensation negatively impacted firm risk in the financial services industry, while it positively impacted risk in the transportation, communication, gas, electric and services sectors. Additionally, long-term compensation share exhibits an inverse relationship with firm risk in the financial services, manufacturing and trade industries.

The conclusions of this paper suggest that there is indeed a relationship between executive compensation and firm risk across industries. There was a notable change in the relationship however between firm risk and long-term compensation following the financial crisis, where firms used long-term compensation to reduce firm riskiness. In other words, the financial crisis changed the nature of this relationship across S&P 1500 firms. The last key finding is that there exist differences in risk and compensation relationships across industries, and these differences across industries are highlighted across both bonus share and long-term incentive share variables. This is the first study to explore this relationship across industries.