The impact of the stapled security structure on the quality of financial disclosure: Evidence from Australian Real Estate Investment Trusts and Listed Infrastructure Funds

This paper is the first study to explore whether the stapled structure influences firms’ activities in earnings management (EM). Trusts and firms under stapled securities are exposed to various managerial opportunities and activities that can provide the flexibility of using EM approaches. Therefore, the stapled structure is expected to induce increased EM behavior and signal a lower level of financial disclosure quality than the unstapled structure. This empirical research analyzes a panel dataset that contains information of Australian REITs (A-REITs) and Listed Infrastructure Funds (LIFs) from the year of 2000–2017. Evidence shows that stapled A-REITs and LIFs use a greater magnitude of EM approaches than unstapled entities. The results imply that the stapled security structure may signal lower-quality of financial disclosure for firms than the unstapled security structure. This study provides additional insight into the understanding of how the security structure may impact firms’ financial disclosure behavior.     

烟草行业“3+1”模式下“绿色工地”建设的探索与实践

论文以湖北新业烟草薄片开发有限公司的就地技改项目为基础,结合烟草行业规定和项目建设中的工期、质量、成本以及环保四个要素,系统分析项目建设中的管理要点、方法、措施以及项目体系建设,探索项目中“绿色工地”建设的管理机制。     

Economic cost–benefit analysis of the addictive digital game industry

This study attempts to estimate the economic costs and benefits of the addictive digital game industry. Addiction to digital games induces economic costs such as increase in crime, facilities investments for curbing addiction, increase in counselling costs and other welfare losses. As a case study, we investigate the digital game industry in South Korea which is known to have one of the highest rates of game addiction. According to our calculations, the annual cost of game addiction is estimated to be approximately $3.5B while the annual benefit is approximately $24.3B ($3.7B for addicted user market). The proportion of the total costs to total benefits from the game industry is an alarming 14% (95% for addicted user market). We offer some policy recommendations.     

晚清生员的技术性知识与传统乡村社会——以胡廷卿家庭收支账簿为核心

在传统乡村社会中,生员群体处于王朝体系中的最底层。他们数量众多,分布广泛,与当地普通民众的关系十分密切。出于谋生和求名的需要,他们往往将塾师当作首选职业,成为传授知识的重要载体和王朝权力深入乡村的媒介之一。除此之外,他们还会通过各种类书,从而掌握许多在乡村中有着广泛用途的“技术知识”,这些知识的运用与他们所处的地方社会密切相关,也扩大了他们的收入来源。     

铁路运输调度系统升级改造的研究

随着运输市场变化、铁路运输改革和铁路信息化水平提升的需要,加快对运输调度系统的升级改造十分关键。在分析既有运输调度系统存在主要问题的基础上,通过阐述铁路运输调度管理系统升级的目标和原则,从总公司级、铁路局级2个方面阐明铁路运输调度管理系统升级的主要内容,提出运输调度管理系统升级的实施步骤。     

高科技新创企业网络跨度与绩效的倒U型关系研究

由于网络关系管理和利用的复杂性以及组织资源、能力的限制，网络跨度与新创企业绩效之间的线性关系不断受到质疑。借鉴社会资本理论和能力观，考察网络跨度与新创企业绩效之间的关系本质，以及网络响应能力在上述关系中的重要作用。基于187份中国高科技新创企业数据，利用多元调节回归方法的实证结果表明，网络跨度与新创企业绩效间存在倒U型关系，网络响应能力在网络跨度与新创企业绩效间发挥调节效用，即通过有效管理和利用网络，优化网络跨度对高科技新创绩效的影响效应。最后，讨论研究的理论意义和实践价值。     

E-marketing services and e-marketing performance: the roles of innovation,knowledge complexity and environmental turbulence in influencing the relationship

The business-to-business electronic marketplace (e-marketplace) is becoming critical for small- and medium-sized enterprises (SMEs). However, which e-marketing services determine a firm’s e-marketing performance and how innovation, knowledge complexity and environmental turbulence influence the relationship between e-marketing services and e-marketing performance are under-researched topics in the field. We first empirically tested 176 SMEs from China to evaluate which e-marketing services are significantly related to e-marketing performance and how these services collectively influence the performance. Then, we used an NK model to examine how innovation, knowledge complexity and environmental turbulence mediate/moderate the relationship. The results show that five e-marketing services (e-CRM, e-SCM, e-competitiveness, IS/IT integration and information transparency) can greatly influence e-marketing performance; innovation positively mediates the relationship between e-marketing services and performance; and knowledge complexity and environmental turbulence positively moderate the relationship.     

小议公路工程中质量监理工作

为了提高公路工程的质量,实现对工程质量、费用、进度、安全、环保的科学有效监督和管理,实行监理制是势在必行的。本文就从公路工程中的质量监理工作的各方面进行简单论述。