We investigate how firms adjust corporate pension plans in response to economic policy uncertainty (EPU). Using a sample of US-listed firms, we find that firms increase pension underfunding levels when facing higher EPU. The result is robust to controlling for pension portfolio returns, discount rates, plan sizes, pension liability, numbers of employees, other macroeconomic factors, difference-in-differences and instrumental variable estimation, and additional evidence of pension risk-shifting. Further analysis reveals that financial distress and information asymmetry induced through EPU are the potential (...) channels. The effect is stronger for firms having CEOs being excessively paid, using cash flow as a performance metric in CEO compensation, paying high dividends, and having short-term institutional investors, whereas the presence of unions, positive corporate culture, and social capital alleviate the effect. Notably, managers, not shareholders, appear to be the party reaping the benefits. Our findings suggest that firms may shift risk to employees in response to heightened uncertainty and institutional characteristics play a moderating role in this crucial business ethics issue. (shrink)

Creative association is inherent and essential to creativity and insight. Here we utilised a Chinese compound Remote Associates Task (cRAT) to identify the potential impact of word order (i.e., solution position hereinafter) and word frequency on creative association across two behavioural experiments. Experiment 1 identified the effects of (a) word order and word frequency on cRAT-induced association without considering the specific strategies used during solving such problems and (b) their interaction not only on performance in solving the cRAT, including solution (...) time and accuracy, but also on difficulty rating. Following a coarse-to-fine approach, Experiment 2 examined the effect of both factors on creative association determined according to each participant’s trial-by-trial reports regarding insight solution strategies. Main effects of word order and word frequency, and a two-way interaction, were found on the accuracy and self-rated difficulty. These findings shed light on creative association, multiply-constrained problem solving and constructing compounds. (shrink)

ObjectiveTo explore the relationships between dispositional mindfulness and their post-traumatic stress symptoms of emergency nurses, and the mediating effects of coping styles and emotional exhaustion.MethodsA cross-sectional survey study was conducted to collect data on DM, coping styles, EE, and PTSS among 571 emergency nurses from 20 hospitals in Chongqing, China. Correlation and structural equation models were used to evaluate the relationship among variables.ResultsEmergency nurses with lower dispositional mindfulness, higher emotional exhaustion and preference for negative coping revealed more PTSS. The effect (...) of NC on PTSS was partially mediated by emotional exhaustion. Negative coping and emotional exhaustion played concurrent and sequential mediating roles between dispositional mindfulness and PTSS.ConclusionThis study has made a significant contribution to existing literature. It was suggested to develop interventions aimed at enhancing mindfulness, reducing negative coping strategies, and alleviating emotional exhaustion, which may be effective at reducing or alleviating post-traumatic stress symptoms of emergency nurses. (shrink)