In this study, we examine the empirical association between corporate social responsibility and information asymmetry by investigating their simultaneous and endogenous effects. Employing an extensive U.S. sample, we find an inverse association between CSR engagement and the proxies of information asymmetry after controlling for various firm characteristics. The results hold using 2SLS considering the reverse side of information asymmetry influencing CSR activities. The results also hold after mitigating endogeneity based on the dynamic panel system generalized method of moment. Furthermore, the (...) CSR–information asymmetry relation is amplified in high-risk firms due to managers’ efforts to build a good reputation. Last, we find that CSR engagement is inversely associated with reputational risk measure and lower predicted value of reputational risk is positively associated with lower information asymmetry measures. We interpret these results as supporting the stakeholder theory-based, reputation-building explanation that considers CSR engagement as a vehicle to build and maintain firm reputation thereby enhancing the information environment. (shrink)

In this study, we examine the relation between corporate environmental responsibility and risk in U.S. public firms. We develop and test the risk-reduction, resource-constraint, and cross-industry variation hypotheses. Using an extensive U.S. sample during the 1991–2012 period, we find that for U.S. industries as a whole, CER engagement inversely affects firm risk after controlling for various firm characteristics. The result remains robust when we use firm fixed effect or an alternative measure of CER using principal component analysis or downside risk (...) measures. To address the concern of endogeneity bias, we use a system equations approach and dynamic system generalized methods of moment regressions, and continue to find that environmentally responsible firms experience lower risk. These findings support the risk-reduction hypothesis, but not the resource-constraint hypothesis, along with the notion that the top management in U.S. firms is generally risk averse and that their CER engagement facilitates their risk management efforts. Our cross-industry analysis further reveals that the inverse CER-risk association mainly comes from the manufacturing sector, whereas in the service sector, CER tends to increase firm risk. (shrink)

The issue of management’s relations to the environment has received a significant amount of attention in the literature on corporate social responsibility. Yet the influence of religion on managers’ environmental decisions has until now remained unexamined despite its known importance. In this article, we examine the empirical association between religion—primarily Christianity—and the environmental practices a firm’s management undertakes by investigating their OLS, principal component, simultaneous, and endogenous effects. Employing a large and extensive U.S. sample, we find a negative association between (...) the environmental practices initiated by a firm’s managers and the religiosity of the surrounding community, after controlling for various firm and demographic characteristics. In addition, after mitigating endogeneity with the dynamic system generalized method of moment, we still find an inverse association between religiosity and environmental-friendly decisions of management. We interpret these results as providing some support for the “dominion hypothesis” that claims Christian beliefs discourage environmental concern, but not for the “stewardship hypothesis” that implies that Christianity encourages people to “exercise a responsible stewardship over nature.” Nevertheless, additional analysis shows Christian groups differ significantly in how each influences managers’ environmental decisions. (shrink)

A beneficial effect of gesture on learning has been demonstrated in multiple domains, including mathematics, science, and foreign language vocabulary. However, because gesture is known to co‐vary with other non‐verbal behaviors, including eye gaze and prosody along with face, lip, and body movements, it is possible the beneficial effect of gesture is instead attributable to these other behaviors. We used a computer‐generated animated pedagogical agent to control both verbal and non‐verbal behavior. Children viewed lessons on mathematical equivalence in which an (...) avatar either gestured or did not gesture, while eye gaze, head position, and lip movements remained identical across gesture conditions. Children who observed the gesturing avatar learned more, and they solved problems more quickly. Moreover, those children who learned were more likely to transfer and generalize their knowledge. These findings provide converging evidence that gesture facilitates math learning, and they reveal the potential for using technology to study non‐verbal behavior in controlled experiments. (shrink)

ABSTRACT:We examine whether religion influences company decisions related to corporate community involvement. Employing a large US sample, we show that the CCI initiatives of a company are positively associated with the level of Christian religiosity present in the region within which that company’s headquarters is located. This association persists even after we control for a wide range of firm characteristics and after we subject our results to several econometric tests. These results support our religious morality hypothesis which holds that companies (...) headquartered in regions with higher levels of Christian religiosity will engage in more CCI initiatives. We also find that while Catholic and mainline Protestant religiosity have a positive influence on firms’ CCI initiatives, evangelical Protestant religiosity does not. This supports our differentiated responses hypothesis which holds that institutional differences among religious groups will produce different effects on companies’ CCI. This hypothesis is based on institutional theory. (shrink)

A beneficial effect of gesture on learning has been demonstrated in multiple domains, including mathematics, science, and foreign language vocabulary. However, because gesture is known to co-vary with other non-verbal behaviors, including eye gaze and prosody along with face, lip, and body movements, it is possible the beneficial effect of gesture is instead attributable to these other behaviors. We used a computer-generated animated pedagogical agent to control both verbal and non-verbal behavior. Children viewed lessons on mathematical equivalence in which an (...) avatar either gestured or did not gesture, while eye gaze, head position, and lip movements remained identical across gesture conditions. Children who observed the gesturing avatar learned more, and they solved problems more quickly. Moreover, those children who learned were more likely to transfer and generalize their knowledge. These findings provide converging evidence that gesture facilitates math learning, and they reveal the potential for using technology to study non-verbal behavior in controlled experiments. (shrink)

The World Bank recently noted: “Social license to operate has traditionally referred to the conduct of firms with regard to the impact on local communities and the environment, but the definition has expanded in recent years to include issues related to worker and human rights”. In this paper, we examine a factor that can influence the kind of work conditions that can facilitate or obstruct a firm’s attempts to achieve the social license to operate. Specifically, we examine the empirical association (...) between a company’s employee practices and the religiosity of its local community by investigating their fixed and endogenous effects. Using a large and extensive U.S. sample, we find a positive association between the “employee friendly” practices of a firm and the religiosity of the local community after controlling for several firm characteristics. In addition, after mitigating endogeneity with the dynamic panel system generalized method of moment and after employing several other econometric tests, we still find a robust positive association between the religiosity of the local community and employee-friendly practices. Since recent research has shown that the firm’s treatment of its stakeholders is a key to achieving an SLO, and since employees constitute a highly significant stakeholder group, we interpret our results as supporting the view that religion is an important influence on the kinds of employee practices that can increase the likelihood that a firm will acquire the SLO. (shrink)

Background: The prevalence of sedentary behavior in adolescents has aroused social attention. The association between sedentary behavior and cognitive flexibility remains unclear, and it may vary depending on the type of sedentary behavior. This study aimed to investigate the associations between specific-type sedentary behaviors and cognitive flexibility in adolescents.Method: A total of 700 Chinese adolescents aged 10–15 years were recruited. The self-report questionnaire was used to assess total sedentary time, recreational screen-based sedentary time, and educational sedentary time. The More-odd shifting (...) task was used to assess cognitive flexibility.Results: The correlation analysis showed that recreational screen-based sedentary time was negatively correlated with cognitive flexibility, whereas educational sedentary time was positively correlated with cognitive flexibility. The regression analysis also further revealed that a significantly negative association between recreational screen-based sedentary time and cognitive flexibility, while a significantly positive association existed between educational sedentary time and cognitive flexibility.Conclusion: The findings shown that the association between recreational screen-based sedentary behavior and cognitive flexibility differs from educational sedentary behavior in adolescents, providing new ideas for a more comprehensive understanding of the association between sedentary behavior and cognitive flexibility in adolescents. (shrink)

Workforce diversity has received increasing amounts of attention from academics and practitioners alike. In this article, we examine the empirical association between a firm’s workforce diversity and the degree of religiosity of the firm’s management by investigating their unidirectional and endogenous effects. Employing a large and extensive U.S. sample of firms from the years 1991–2010, we find a positive association between a measure of the firm’s commitment to diversity and the religiosity of the firm’s management after controlling for various firm (...) characteristics. In addition, after controlling for endogeneity with the dynamic panel generalized method of moment, we still find a positive association between the firm’s diversity and management’s religiosity. We interpret these results as supportive of the religious motivation explanation that views the firm as a human community and considers religion as a factor that influences managers to more positively embrace diversity. Our results, however, provide no support for the resource-constraint hypothesis that views the firm as a nexus of contracts and sees managers as aiming to maximize shareholder returns under resource constraints that force them to invest only in projects that have a positive net present value and reject diversity initiatives since these do not have a positive NPV. (shrink)

The Iowa Gambling Task (IGT) simulates uncertain gains and losses in real life situations and thus is a good measure of uncertain decision making. The role of working memory (WM) in IGT performance still remains unclear. The present study aimed to examine the effect of WM on IGT performance. Three groups of participants matched on gender ratio were randomly assigned to no WM load, low WM load, and high WM load conditions. Initially the three groups did not show significant difference (...) in WM capacity. They finished a modified version of IGT and then their implicit learning effect and explicit cognition on IGT were assessed. Results indicated a linear increasing trend of IGT performance among high WM load, low WM load and no WM load groups; participants in the no WM load and low WM load groups revealed implicit learning effect, while participants in the high WM load group did not; all participants showed explicit cognition on IGT to the same level. These results suggested that participants in the high WM load group showed good explicit cognition to IGT but showed poor performance. This pattern is similar to frontal patients. Further studies should be conducted to explore this issue. (shrink)

This study examines the influence of Christian religion on corporate decisions related to human rights in the United States. Specifically, it examines the empirical association between a company's human rights practices and the Christian religiosity in its local community, as well as individual CEO religiosity in the United States, both of which have not been tested in prior studies. Employing a large sample from the United States, we find a congruent association between the “human rights friendly” practices of a company (...) and the Christian religiosity of the local community. This novel finding is robust to a diverse set of tests. In addition, we find that the association between Christian religiosity in the United States and human rights is more significant in reducing human rights concerns, than it improves human rights strengths. This study interprets these results as upholding the religious morality hypothesis, namely, that companies located in areas with higher religiosity are likely to engage in more human rights-friendly practices, and the United States. Christians consider religion as an influencing factor that encourages managers to embrace human rights. Furthermore, this study finds that individual religious managers tend toward more human rights-friendly practices, supporting our religious manager hypothesis. (shrink)

Student performance prediction aims to evaluate the grade that a student will reach before enrolling in a course or taking an exam. This prediction problem is a kernel task toward personalized education and has attracted increasing attention in the field of artificial intelligence and educational data mining. This paper provides a systematic review of the SPP study from the perspective of machine learning and data mining. This review partitions SPP into five stages, i.e., data collection, problem formalization, model, prediction, and (...) application. To have an intuition on these involved methods, we conducted experiments on a data set from our institute and a public data set. Our educational dataset composed of 1,325 students, and 832 courses was collected from the information system, which represents a typical higher education in China. With the experimental results, discussions on current shortcomings and interesting future works are finally summarized from data collections to practices. This work provides developments and challenges in the study task of SPP and facilitates the progress of personalized education. (shrink)

This study examines the impact of corporate social responsibility activities on insider trading. While opponents of insider trading claim that the buying or selling of a security by insiders who have access to non-public information is illegal, proponents argue that insider trading improves economic efficiency and fairness when corporate insiders buy and sell stock in their own companies. Based on extensive U.S. data of insider trading and CSR engagement, we find that both the number of insider transactions and the volume (...) of insider trading are positively associated with CSR activities.We also find that legal insider transactions are positively related to CSR engagement even after controlling for potential endogeneitybias and various firm characteristics. Furthermore, our evidence suggests that firms perceive adjustment to CSR dimension of product as being efficient, while adjustment to diversity and environmental CSR as being inefficient. Our results of bad and illegal insider trading proxies are consistent with the interpretation that firms with high CSR ratings do not attempt to engage in unethical or bad insider trading in a significant fashion. Combined together, we consider our empirical evidence supportive of the fairness and efficiency explanation, but not the unfairness and inefficiency hypothesis. (shrink)

This paper aims to propose an improved learning algorithm for feature selection, termed as binary superior tracking artificial bee colony with dynamic Cauchy mutation. To enhance exploitation capacity, a binary learning strategy is proposed to enable each bee to learn from the superior individuals in each dimension. A dynamic Cauchy mutation is introduced to diversify the population distribution. Ten datasets from UCI repository are adopted as test problems, and the average results of cross-validation of BSTABC-DCM are compared with other seven (...) popular swarm intelligence metaheuristics. Experimental results demonstrate that BSTABC-DCM could obtain the optimal classification accuracy and select the best representative features for the UCI problems. (shrink)

The coaxiality and unbalance are the two important indexes to evaluate the assembly quality of an aeroengine. It often needs to be tested and disassembled repeatedly to meet the double-objective requirements at the same time. Therefore, an intelligent assembly method is urgently needed to directly predict the optimal assembly orientations of the rotors at each stage to meet the double-objective requirements simultaneously. In this study, an assembly optimization method for the multistage rotor of an aeroengine is proposed based on the (...) genetic algorithm. Firstly, a spatial location propagation model is developed to accurately predict the spatial position of each rotor after assembly. The alignment process of the assembly screw holes of the adjacent rotors is considered for the first time. Secondly, a new assembly optimization strategy is proposed to select different assembly data for the specific values of the coaxiality and unbalance, respectively. Finally, a double-objective fitness function is constructed based on the coaxiality and unbalance. The simulation and experimental results show that the assembly optimization method proposed in this study can be utilized to achieve synchronous optimization of the coaxiality and unbalance of an aeroengine during preassembly. (shrink)

The cellular internal ribosomal entry site (IRES) is one of the most important elements to mediate cap‐independent translational initiation, especially under conditions of stress and pathology. However, a high‐throughput method to discover IRESs in these conditions is still lacking. Here, a possible way IRES long‐read sequencing based on the latest high‐throughput technologies is proposed to solve this problem. Based on this design, diversity and integrity of the transcriptome from original samples can be kept. The micro‐environment that stimulates or inhibits IRES (...) activity can also be mimicked. By using long read‐length sequencing technology, additional experiments that are essential for ruling out the cryptic promoters or splicing events in routine IRES identification processes can be circumvented. It is hoped that this proposed methodology may be adopted for IRES element discovery, hence uncovering the full extent of the role of IRESs in disease, development, and stress. Also see the video abstract here https://youtu.be/JuWBbMzWXS8. (shrink)

Graphical AbstractCellular internal ribosomal entry site (IRES) is important for cap-independent translational initiation during stress and pathology. In article number 1900180, Lei-Yun Wang et al. propose an idea to discover IRES based on the latest high-throughput technologies, hence facilitating the understanding of IRES in disease development and treatment.

Financial literacy is essential for every individual concerned with public welfare and household portfolio choices. In this study, we investigate the impact of household financial literacy on individuals’ financial behavior using the China Household Financial Survey Data of 2015 and 2017. The results show that financial knowledge has significant current, long-term, and dynamic effects on financial behavior. This finding suggests that financial literacy is an important factor in shaping and improving financial behavior. Second, financial literacy can improve residents’ limited attention, (...) and residents with high attention tend to have formal bank accounts, participate in the stock market, and engage in financial behaviors in situations such as risky financial markets. High attention also helps to improve residents’ financial behavior. This relationship suggests that financial literacy positively impacts formal bank account holding, participation in financial markets, participation in commercial insurance, participation in pension plans, and credit card holdings through limited attention channels that facilitate access to specific financial information. In addition, heterogeneity analysis showed that the impact of financial literacy on financial behavior differs significantly between urban and rural households, between men and women, and between high and low education levels. The study provides valuable insights for policy implications to enhance financial literacy, such as carrying out financial training to improve residents’ knowledge about financial aspects, which further helps to optimize household financial decision-making. (shrink)

To advertise or estimate demand, many pre-order items appear on crowdfunding platforms. Few studies have explored backers’ preferences between crowdfunding projects and pre-order items. To analyze backers’ preferences, 1,800 technology and innovation campaigns were collected from the Indiegogo crowdfunding platform. Using the product stage badge, the campaigns in the concept and prototype stages were treated as crowdfunding projects, while those in the production and shipping stages were labeled pre-order items, resulting in 1,305 crowdfunding projects and 495 pre-order items, respectively. Propensity (...) score matching was leveraged to investigate differences in fundraising outcomes between crowdfunding projects and pre-order items. The results indicate that pre-order items have better fundraising outcomes than crowdfunding projects, suggesting that backers are risk-averse on the crowdfunding platform. (shrink)

Although there have been numerous studies on mental wellbeing impairment or other negative consequences of Workplace Violence against healthcare professionals, however, the effects of WPV are not limited to those who experience WPV in person, but those who exposed to WPV information indirectly. In the aftermath of “death of Dr. Yang Wen,” a cross-sectional study was conducted to explore the psychological status of healthcare professionals. A total of 965 healthcare professionals from 32 provinces in China participated in our research. The (...) prevalence rates of Post-Traumatic Stress Disorder symptoms, depression, anxiety among healthcare professional in the current study were 25.60, 46.01, and 27.88%, respectively. Moreover, our research suggested that the awareness of WPV-incident had a significant association with PTSD symptoms. In addition, risk perception was shown to mediate the effect of WPV awareness on PTSD symptoms. Furthermore, the present research also found a U-shaped relationship between issue salience and PTSD symptoms, and the relationship between issue salience and anxiety, indicating that higher awareness of WPV issue was negatively related to mental health status but only to the points at which there were no additional effects of more issue salience. This study highlighted that more protective measures for healthcare professionals need to be implemented in response to potential WPV events. More importantly, risk perception was found to mediate the effect of WPV issue salience on PTSD symptoms, it is critical to reduce the mental health burden through intervening in risk perception. (shrink)

The requirement for anthropocentric, or human-centred decision support is outlined, and the IDIOMS management information tool, which implements several human-centred principles, is described. IDIOMS provides a flexible decision support environment in which applications can be modelled using both ‘objective’ database information, and user-centred ‘subjective’ and contextual information. The system has been tested on several real applications, demonstrating its power and flexibility.