科技创新治理能力对治理绩效的影响研究

以系统论思想为指引，遵循要素-结构-功能的分析范式，从科技创新治理能力发展的水平结构和外部性结构两个方面入手，就科技创新治理能力对科技创新治理绩效的作用机理进行逻辑推演。结合中国科技创新治理体系治理能力发展现状，对治理绩效低下的形成机理进行系统探讨，结果表明：科技创新治理能力的强度结构是决定科技创新治理绩效的关键，而科技创新治理体系整体治理能力水平偏低、内部结构失衡是导致现行科技创新治理绩效低下的根源。与此同时，科技创新治理能力外溢效应在不同方向上的非对称性加剧了科技创新治理能力的结构性失衡，阻碍了科技创新治理能力的整体性提升，抑制了科技创新治理绩效有效增长。因此，应加快转变治理理念，逐步构建以“创新链”为核心的现代科技创新治理模式；增强微观治理能力，构建开放包容的科技创新管理服务体系；提升中观治理能力，实行科技创新管理机构垂直管理；优化治理环境，将知识产权法律制度环境和科技交易市场环境营造纳入科技创新管理服务体系，逐步构建与现代科技创新治理理念相匹配的科技创新管理部门地方政府官员政绩考评体系。     

Why do stock repurchases change over time?

Recent studies have shown the time trends of firm stock repurchase behavior. We examine these time changes for stock repurchase through the lens of real activities earnings management. Managers appear more likely to manipulate earnings through stock repurchases since the passage of the Sarbanes–Oxley Act (SOX) in 2002. Furthermore, suspect firms that just missed analyst earnings per share forecasts have higher incentives to manipulate earnings through stock repurchases. The results are not driven by changes in corporate governance associated with the passage of SOX. Overall, our results suggest earnings management can be a significant determinant of the dynamics of stock repurchases.     

Examining relationships among perceived benefit,tourist experience and satisfaction: the context of intelligent sharing bicycle

Intelligent sharing bicycle has been a new fashion in China and appeals to more and more tourists. To better understand the experience of tourists traveling on sharing bicycle, this study explored the influence of perceived benefit of sharing bicycle on different perceived experiences, including escape, entertainment, esthetic and educational experiences. The relationships between these experiences and perceived satisfaction were also tested. An effective questionnaire survey was conducted for 296 tourists in Chengdu, China. The results of the study show that perceived benefit significantly relates to all the four dimensions of experience. However, only entertainment and esthetic experience seem to affect tourist satisfaction in this context. The relationship among educational experience, escape experience and tourist satisfaction are insignificant. Theoretical and practical implications of the study results are discussed for further research.     

Can Management Turnover Restore the Financial Statement Credibility of Restating Firms? Further Evidence

This paper investigates the association between management turnover following financial restatements and the probability of subsequent restatements. We find that restating firms that replace management (CEO and/or CFO) are more likely to restate their financial statements again. We also find that subsequent restatements are mainly attributable to the new management. Overall, our results suggest that management turnover following restatements may not be an effective mechanism to remediate financial restatements, but the change to a new management results in a greater possibility of lower earnings quality (i.e., higher probability of subsequent financial restatements and accruals‐based earnings management). Our study supports prior literature's findings that the change in the top management leads to organizational instability and higher accounting information risk. Our findings have implications for internal decisionmaking with regard to top executive replacement.     

Work-family conflict and organizational citizenship behavior: the role of job satisfaction and decision authority

Drawing upon the conservation of resources theory (Hobfoll, Am Psychol 44:513–524, 1989), social exchange theory (Blau, Exchange and power in social life, 1964) and the job demand-control model (Karasek, Adm Sci Q 24:285–308, 1979), this study uncovers the theoretical mechanism that explains the relationship between work-family conflict and organizational citizenship behavior (OCB). First, this study focuses on how employee job satisfaction mediates the relationship. Then, we investigate the moderating role of decision authority in the mediated relationship. We employ three-wave data collected from 324 employees in 102 teams to test our hypotheses. Results of hierarchical linear modeling (HLM) first shows that job satisfaction mediates the relationship between work interference with family (WIF) and OCB. In addition, employees’ decision authority moderates the direct effect of WIF on OCB. Specifically, the negative relationship between WIF and OCB is stronger when employees’ decision authority is high. Moreover, decision authority moderates the indirect effect of WIF on OCB via job satisfaction. Specifically, the negative relationship between WIF and job satisfaction is weaker when employees’ decision authority is high. The results suggest that organizations should give employees enough decision authority over their work, as a high level of decision authority may act as a double-edged sword regarding critical organizational outcomes.     

CKshare: secured cloud-based knowledge-sharing blockchain for injection mold redesign

This paper proposes a trustable mold redesign knowledge-sharing platform, known as CKshare, based on private cloud and blockchain technology. Firstly, we use private cloud to store the mold redesign knowledge of each party to meet its own privacy and data format requirements. Secondly, a blockchain network is used for recording the knowledge and its transactions to ensure security and trustfulness. Thirdly, a simple retrieval mechanism is developed based on k-nearest neighbors for retrieving the codified knowledge on the platform. To realize CKshare, a prototype platform has been developed and explained based on real data from the case mold company.     

Media heterogeneity and post‐earnings announcement drift: evidence from China

This paper examines how the Chinese stock market acts differently towards state‐controlled and market‐oriented media coverage. Using a setting of post‐earnings announcement drift, we find that information from state‐controlled media enters the stock price in a timelier manner, while the message from market‐oriented media needs more time to get a response from investors. The effect is also influenced by whether the type of news coverage is good or bad. Our findings suggest that the capital market underreacts when good news is reported by the market‐oriented media.     

The value relevance of comprehensive income under alternative presentation formats permitted by ASU 2011-05

Review of Quantitative Finance and Accounting - Under Accounting Standards Update 2011-05, firms can present comprehensive income (CI), defined as the sum of net income (NI) and other comprehensive...     

The Evolving Structure of Chinese R&D Funding and its Implications for the Productivity of Agricultural Biotechnology Research

China’s research and development (R&D) policy has changed considerably over recent decades, and great changes occurred in 2006 when the main programme objective of China’s R&D changed from the 863 Programme and 973 Programme to the National Science and Technology Major Project. One topic that has drawn extensive attention is whether the investment reform improved R&D productivity in China. Using a unique panel dataset from 160 universities, this paper examines the effect of the investment reform on productivity improvement in China’s agricultural biotechnology sector. We use a panel count data model with a dynamic feedback mechanism to model the knowledge production process. Strong evidence indicates that the investment reform greatly contributes to knowledge output production in China’s agricultural biotechnology sector. We also find that the input quality is more important than the absolute quantity; human research capacity exhibits the greatest contribution to the output of patents; past knowledge accumulation helps produce more patents; and entry barriers to patent production exist in China’s agricultural biotechnology sector. Moreover, the patent explosion in China may have been largely caused by improvements in the human capital input quality.