Abstract:A three-node trust experiment which contains one principle and two agents is designed on the basis of the BDM trust game． Experimental results reveal that principals send more to agents in the three-node trust game than in the two-node trust game，and the amount sent to both agents are equal in order to diversify risk． Besides the game structure，the principals’risk preference and the family environment also have a significant influence on trust behavior． After all，the total efficiency of the three-node trust game is higher than that of the two-node one，though the trustworthiness of the receivers in both two structures is almost the same．

Abstract:Whether decision makers are inclined to be risk-taking or risk averse when firm performance is be-low the level of aspiration is still an unsolved issue． This article incorporates decision makers’perceived com-petence and motivations into the model of decision making，which indicates that the risk-taking behavior is a result of interaction of perceived competence with motivations． Simultaneously，such interaction is constrained by organizational slack and competitive threats． Based on data of Chinese private listed companies，several main conclusions are drawn． Firstly，the relationship between negative attainment discrepancy and Ｒ＆D in-vestments is rise-fall reverse U-shaped，which is caused by both the motivation and competence in the poor performance situation． Secondly，organizational slack has significant positive moderating effects，that is，a-bundant organizational slack increases firm’s Ｒ＆D expenditures． Thirdly，competitive threats have negative moderating effects on the relationship between negative attainment discrepancy and Ｒ＆D investments，which means that a decision maker is more likely to reduce Ｒ＆D investments when a firm suffers from more external competitive threats． Finally，organizational slack and competitive threat change both the curvature and slope of the curvilinear relationship between negative attainment discrepancies and Ｒ＆D investments．

Abstract:Failing to recognize entrepreneurial risks may lead to entrepreneurial failure． Social networks can be useful to entrepreneurs when mitigating such risks by helping them to overcome information liability，but few existing studies explore whether and how social networks affect entrepreneurial risk recognition． To fill this gap，a model of entrepreneurial risk recognition is built based on information processing theory． The results in-dicate that structural holes and network strength can help entrepreneurs acquire more and higher quality infor-mation to recognize more entrepreneurial risks． The quantity of the information acquired completely mediates the relationship between network strength and entrepreneurial risk recognition． Moreover，prior experience has a positive effect on entrepreneurial risk recognition，and moderates the relationship between structural holes and the quantity of information acquired． The theoretical and managerial implications are also discussed．

Abstract:Collecting data from Chinese listed firms from 2005 to 2013，the paper develops a measure of prod-uct market competition advantage ( or PMCA) ，and investigates the effect of PMCA on capital structure and trade credit supply as well as the moderating role of macro，industry，and micro factors． It is found that firms with PMCA have lower capital structure and higher trade credit supplies to their suppliers or customers． More-over，the effect of PMCA on capital structure and trade credit supply is greater in fast-growing economic re-gions，weakly competitive industries，and non-state-owned firms． Overall，the paper provides new evidence to a better understanding of the effect of PMCA on capital structure and trade credit supply．

Abstract:This paper manually collected data of analysts’recommendations published in the three largest Chi-nese security newspaper and investigates the potential investment value and market impact of media recommen-dations． Empirical results show that: 1) media recommendations have significant impacts on the trading be-haviors of individual investors; 2) there are significant negative abnormal returns after the release of media recommendations，which is particularly prominent in the bearish market; 3) media recommendations affect the transfer of market wealth and lead to a direct loss of individual investors． Our study indicates that security ana-lysts in the Chinese market have a poor ability in discovering market information and that there is a possibility of insider trading and interest transfer behavior in the emerging markets．

Abstract:Considering institutional investors’self-protection，a game model between insiders and institutional investors is built to reveal the micro mechanism how institutional holdings influence corporate performance． An empirical test is performed on the listed firm samples in Shanghai and Shenzhen A Stock Market between 2004 ～ 2012． The results show the structural change of the effects of institutional investors on corporate per-formance during the first period ( 2004 － 2007) and the second one ( 2008 － 2012) ． The results also show that although during these two periods the institutional investors as a whole had positive effects on corporate per-formance，the effect in the second period was obviously weaker than in the first period． The mutual fund hold-ings rather than the other institutional holdings could improve corporate performance． The main reason is that during the sample period，the holding ratio of the mutual fund decreased and the ratio of other institutional in-vestors increased rapidly，which resulted in the overall weakening of the positive effect of the institutional in-vestors on corporate performance．

Abstract:This paper discusses the procurement decision for logistics service integrator，including the number of whole sale price and booking option in the first period，options to perform in the second period and the spot purchasing in the third period，and sets up a purchase model without the influence of shortage of capital to find the purchase decision for logistics service integrator in the third period． Then introduced the constraint of order budget，analyzed the procurement decision for integrator under this condition，and compared the decision of logistic service integrator in both situation，discussed the influence of shortage of capital on logistic capabilities procurement for integrator． Finally，the research findings was described and verified by data analysis．

Abstract:China has the largest share of container throughput in the world． The initiatives of domestic eco-nomic strategy of the “Silk Ｒoad Economic Belt”and “21st Century Maritime Silk Ｒoad”( jointly referred to as “One Belt One Ｒoad”) have brought new opportunities to Chinese ports． Port management and operations involve optimization for single or multiple resource allocation from the perspective of the port，collaborative be-havior and mechanism from the perspective of port groups，and collaborative behavior and mechanism among ports，carriers and shippers from the perspective of maritime supply chain． This paper shows the critical role of Chinese ports in the global maritime logistics and reviews literature on port management and operations in re-cent decades． Furthermore，this paper points out current research limitations considering the practical issues in China． The goal of this paper is to emphasize the necessity and importance of certain research areas，and to suggest more research efforts on potential hot topics．