Search results

This study aims to examine the association between fair value accounting and the cost of corporate bonds, proxied by bond yield spread. In addition, this study explores the moderating role of auditor industry expertise at both the national and the city levels.

This study first examines the effect of the use of fair value on yield spread by estimating firm-level regression model, where fair value is the testing variable and yield spread is the dependent variable. To test the differential impact of the three levels of fair value inputs, this paper divides the fair value measures based on the three-level hierarchy, Level 1, Level 2 and Level 3, and replace them as the test variables in the regression model.

This study finds that the application of fair value accounting is generally associated with a higher bond yield spread, primarily driven by Level 3 estimates. The results also show that national-level auditor industry expertise is associated with lower bond yield spreads for Level 1 and Level 3 fair value inputs, whereas the impact of city-level auditor industry expertise on bondholders is mainly on Level 3 fair value inputs.

The paper innovates by exploring the impact of fair value accounting in a setting that extends beyond financial institutions, the traditional area of focus. Moreover, most prior research considers private debt, whereas this study examines public bonds, for which investors are more likely to rely on financial reporting for their information about a firm. Finally, the study differentiates between city- and national-level industry expertise in examining the role of auditors.

This research has several practical implications. First, firms seeking to raise debt capital should consider involving auditors, with either industry expertise or fair value expertise, due to the roles that auditors play in safeguarding the reliability of fair value measures, particularly for Level 3 measurements. Second, from standard-setting and regulatory perspectives, the study’s findings that fair value accounting is associated with higher bond yield spread cast further doubt on the net benefits of applying a full fair value accounting regime. Third, PCAOB may consider enhancing guidance to auditors on Level 2 fair value inputs, to further enhance audit quality. Finally, creditors can be more cautious in interpretating accounting information based on fair value while viewing the employment of auditor experts as a positive signal.

First, the paper extends research on the role of accounting information in public debt contracting. Second, this study adds to the auditing literature about the impact of industry expertise. Finally, and more generally, this study adds to the ongoing controversy on the application of fair value accounting.

The purpose of this paper is to establish a direct link between securitizations and accrual-based earnings management by investigating whether financial statements in the periods of securitizations are more likely to be restated at a later time. In addition, this study examines whether the association between securitization and accounting restatements is more pronounced in the pre-financial crisis period and for banks with less independent or industry-specialized auditors.

This study covers a sample of bank holding companies with restatement information between 2001 and 2012. Using the incidence of material accounting restatements as a proxy for accrual earnings management, this study investigates whether securitizations are likely used as a tool for accrual earnings management. A logistic model is applied with standard errors clustered at the firm-year level. Various robustness tests are conducted to rule out the possibilities that the results are driven by unintentional reporting errors or endogeneity of the securitization decisions.

The empirical results reveal a positive and significant association between banks’ securitization activities and the likelihood of having accounting restatements. Moreover, this positive association is more pronounced in the pre-financial crisis period and for banks with less independent or industry-specialized auditors.

The findings suggest that managers take advantage of discretions on accounting rules for securitizations to manage earnings. This evidence provides multi-dimension implications for standard setters and practitioners, as well as investors.

This is one of the very first papers to document evidence that accrual earnings management is involved in securitization.

Energy consumption is a fundamental concern in wireless multimedia sensor networks, even more than that in traditional wireless sensor networks. In fact, sensors are battery‐constrained devices, while multimedia applications, which require higher transmission rates and more extensive processing capacity, produce large quantities of data. The purpose of this paper is to propose a method which could save multimedia nodes' energy during their sleeping and transmitting phases and effectively bring down energy consumption.

Based on the location and direction angle of nodes, areas of the overlapping sensing region between adjacent nodes could be calculated and a sleeping strategy is carried out to reduce energy consumption of inactive nodes. Moreover, an improved image comparison and block transmission methods by utilizing the sequence similar detection arithmetic theory is brought up as well to further save the node's energy.

With the help of the mobile nodes and by dividing the network into grids, sensing direction of multimedia node as well as the area of the overlapping sensing region could be obtained which provide a basis for the sleeping strategy. Furthermore, energy consumption on transmission is also reduced by only transmitting the unmatched blocks. Simulation results show that this method obtains satisfactory performance on prolonging the networks' lifetime.

This paper is of value in presenting an effective energy‐saving strategy for wireless multimedia sensor networks.

The purpose of this paper is to review and analyze the perishable inventory models along various dimensions such as its evolution, scope, demand, shelf life, replenishment policy, modeling techniques and research gaps.

In total, 418 relevant and scholarly articles of various researchers and practitioners during 1990-2016 were reviewed. They were critically analyzed along author profile, nature of perishability, research contributions of different countries, publication along time, research methodologies adopted, etc. to draw fruitful conclusions. The future research for perishable inventory modeling was also discussed and suggested.

There are plethora of perishable inventory studies with divergent objectives and scope. Besides demand and perishable rate in perishable inventory models, other factors such as price discount, allow shortage or not, inflation, time value of money and so on were found to be combined to make it more realistic. The modeling of inventory systems with two or more perishable items is limited. The multi-echelon inventory with centralized decision and information sharing is acquiring lot of importance because of supply chain integration in the competitive market.

Only peer-reviewed journals and conference papers were analyzed, whereas the manuals, reports, white papers and blood-related articles were excluded. Clustering of literature revealed that future studies should focus on stochastic modeling.

Stress had been laid to identify future research gaps that will help in developing realistic models. The present work will form a guideline to choose the appropriate methodology(s) and mathematical technique(s) in different situations with perishable inventory.

The current review analyzed 419 research papers available in the literature on perishable inventory modeling to summarize its current status and identify its potential future directions. Also the future research gaps were uncovered. This systemic review is strongly felt to fill the gap in the perishable inventory literature and help in formulating effective strategies to design of an effective and efficient inventory management system for perishable items.

The authors develop a theoretical framework of how foreign competition in a firm's home country jointly interacts with other environmental factors to influence the internationalization pace. This study moves beyond the debate on whether foreign competition promotes or inhibits the internationalization pace by unpacking the nature of pace across strategic and operational dimensions. By differentiating the internationalization paces of market scope and international commitment, the study results show that foreign competition has a positive effect on the former and a negative effect on the latter. This indicates that the determinants of different paces are conditional upon the different knowledge types among foreign competitors.

Using a panel data set of Chinese construction corporations over the period from 2009 to 2015, the authors extend previous research on the effect of home country environment on internationalization behavior in an emerging economy by examining the effects of the interplay between foreign competition in home country and industrial contexts. The authors also explore the moderating effect of subnational institutions on the relationship between foreign competition and internationalization pace. They use a Poisson model and a GEE model to examine the main effects and moderating effects involved.

The results indicate that industry dynamism strengthens the positive effect of foreign competition and the pace of market scope, while industry munificence weakens the negative effect of foreign competition and the pace of international commitment. The authors’ findings support the coexistence of “pushing” and “pulling” effects of environmental factors from a firm's home country. The authors extend the argument of “institutional escapism” by focusing on subnational institutions. They show that firms located in a region with a low level of marketization are more likely to respond by accelerating the pace of their international expansion to escape from their home country.

The authors’ findings have implications for practitioners and policymakers working with emerging market firms (EMFs). The authors suggest that local governments should consider building high-quality institutions that can reduce the possibility of investment opportunities escaping EMFs. The authors’ findings indicate that international knowledge from foreign competitors may also assist EMFs in understanding more about the cultural environment before entering host countries, although it cannot help them to resolve cultural uncertainty when operating in host countries. Hence, managers should carefully evaluate their competitiveness before they decide to engage in global competition at an accelerated rate.

The purpose of this paper is to describe the structure of nonlinear dampers and the dynamic equations, and nonlinear realization principles and optimize the parameters of nonlinear dampers. Using the finite element method to analyze the seismic performance of the frame structure with shock absorber.

The nonlinear shock absorber was installed in a six-storey reinforced concrete frame structure to study its seismic performance. The main structure was designed according to the eight degree seismic fortification intensity, and the time history dynamic analysis was carried out by Abaqus finite element software. EL-Centro, Taft and Wenchuan seismic record were selected to analyze the seismic response of the structure under different magnitudes and different acceleration peaks.

Through the principle study and parameter analysis of the nonlinear shock absorber, combined with the finite element simulation results, the shock absorption performance and shock absorption effect of the nonlinear energy sink (NES) nonlinear shock absorber are given as follows: first, the damping of the NES shock absorber is satisfied, and the linear spring stiffness and nonlinear stiffness of the shock absorber are based on the relationship k1=kn×kl2, so that the spring design length is fixed, and the linear stiffness of the shock absorber can be obtained. The nonlinear shock absorber has the characteristics of high rigidity and frequency bandwidth, so that the frequency is infinitely close to the frequency of the main structure, and when the mass of the shock absorber satisfies between 0.056 and 1, a good shock absorption effect can be obtained, and the reinforced concrete with the shock absorber is obtained. The frame structure can effectively reduce the seismic response, increase the natural vibration period of the structure and reduce the damage loss of the structure. Second, the spacer and each additional shock absorber have a small difference in shock absorption effect. After the shock absorber parameters are accurately calculated, the number of installations does not affect the shock absorption effect of the structure. Therefore, the shock absorber is properly constructed and accurately calculated. Parameters can reduce costs.

New shock absorbers reduce earthquake-induced damage to buildings.

In the new development stage of comprehensively building a socialist modern state, it is imperative to adhere to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, comprehensively summarize China's practical experiences in economic development, strengthen research on capital issues, construct theories of socialist political economy with Chinese characteristics regarding capital and provide scientific theoretical guidance for further promoting the positive role of various types of capital while preventing and overcoming their negative effects, which is a major theoretical issue and a glorious task for the theoretical and economic circles in China.

From the perspective of Marx's theory on capital and historical development, modern capital represents the organizational mode of socialized mass production and market economy. It serves as both the economic foundation of bourgeois society and a tool for socialist economic development.

The market economy represents an inevitable historical stage and form of socialist economic development, necessitating the adoption of capital as an organizational form within socialist economies.

The utilization of capital to advance a socialist economy is a remarkable achievement by the CPC and Chinese people, representing a significant innovation in both theory and practice. The role of capital is inherently dual under any social condition. In the context of a socialist system, capital can play a positive role effectively, and its behavior can be guided and regulated correctly to curb its negative or even destructive impact.

Drawing on the Health Belief Model (HBM), this study aims to investigate the roles of health beliefs (i.e. perceived susceptibility, perceived severity, perceived benefits, perceived barriers, health self-efficacy and cues to action) in promoting college students’ smartphone avoidance intention.

Empirical data were collected through a cross-sectional survey questionnaire administered to 4,670 student smartphone users at a large university located in Central China. Further, a two-step Structural Equation Modeling was conducted using AMOS 22.0 software to test the hypothesized relationships in the research model.

Analytical results indicate that (1) perceived susceptibility, perceived severity, perceived benefits and health self-efficacy positively influence users’ smartphone avoidance intention; (2) perceived barriers negatively influence smartphone avoidance intention, while (3) cues to action reinforce the relationships between perceived susceptibility/perceived benefits and smartphone avoidance intention, but attenuate the relationships between perceived barriers/health self-efficacy and smartphone avoidance intention.

This study demonstrates that HBM is invaluable in explaining and promoting users’ smartphone avoidance intention, thereby extending extant literature on both HBM and smartphone avoidance.

Research on smartphone avoidance is still in a nascent stage. This study contributes to the field by offering a fresh theoretical lens for pursuing this line of inquiry together with robust empirical evidence.

The purpose of this paper is to provide a conceptual model for examining the effects of trust (competence trust, goodwill trust) and cooperation on partner opportunism and for exploring the moderating effects of guanxi on the relationships among trust, cooperation and opportunism in joint ventures.

The sample for this paper comprises 981 manufacturing joint ventures from various industrial sectors. A total of 354 valid questionnaires were collected, representing a 36 per cent response rate. The conceptual model is tested with structural equation modeling adopting AMOS software.

The empirical findings indicate that both competence trust and goodwill trust reduce partner opportunism in a joint venture through fostering cooperation. Competence trust also exerts significant influence on preventing opportunism, whereas opportunistic behavior is not greatly affected by goodwill trust. Additionally, the results reveal that guanxi helps strengthen the negative relationship between cooperation and opportunism.

This paper makes a threefold contribution: First, it investigates empirically the direct influence of two types of trust on partner opportunism. Second, it tests indirect influence of trust on partner opportunism through the path of cooperation. Third, it explores the moderating effects of guanxi in relationships on trust, cooperation and partner opportunism. Implications offers suggestions for management practice to reduce partner opportunism in joint-venture manufacturing.

The purpose of this paper is to advance our understanding of the roles that service employees’ responses to high job demands play in service innovation, by examining the effects that service employees’ motivational orientation in self-regulation (regulatory focus) and their emotional labour strategy have on their creativity.

By integrating regulatory focus theory and emotion regulation theory, the authors developed a theoretical model to propose the links between promotion and prevention regulatory foci, different emotional labour strategies and frontline employee creativity. The research hypotheses were tested using hierarchical linear model based on data collected from 304 frontline employees and 72 supervisors in 51 restaurants.

The results showed that promotion focus was positively related to frontline employee creativity while prevention focus was negatively related to it. In addition, both emotional labour strategies (deep acting and surface acting) mediated the effect of promotion focus on frontline employee creativity. Surface acting mediated the effect of prevention focus on frontline employee creativity.

This is the first research conducted to explain, from a self-regulatory perspective, the influence that is exerted on service employees’ service innovation by their responses to high job demands. The findings identify the effects that service employees’ promotion focus or prevention focus in self-regulation have on their creativity, and the data unravel the role of emotional labour strategy as the mediating mechanism that explains the influence of regulatory focus on service employee creativity. On the basis of the findings, managerial directions are offered with regard to managing service employees’ regulatory focus and emotional labour, with a view to enhancing the creativity and innovation within a service organisation.