综合收益列报、估值判断和盈余管理识别的实验研究——基于评估师认知视角

估值判断会因综合收益列报模式的不同而有差异,因此利用实验设计检验了列报模式对评估师估值判断的影响,及其识别盈余管理的能力。调查和分析表明不同的综合收益列报模式对评估判断的影响不存在显著差异,符合中国评估行业现状;评估师能够识别盈余管理,但综合收益和它的组成部分的详细披露并没有显著增强公司盈余管理的透明度。     

中国城际高铁与商业信用供给——基于准自然实验的研究

本文利用中国城际高铁开通对公司产品质量保证动机产生的外生变化来考察其如何影响公司的商业信用供给决策。高铁开通通过降低运输成本,提高了公司与客户之间的交易量,不仅可以降低公司与客户之间的信息不对称,还可以促使公司提高产品质量,削弱了公司为了保证产品质量而提供商业信用的动机。借助高铁开通在时间和空间上错列发生的特征,构建准自然实验情境,本文使用双重差分方法的检验,结果表明高铁开通使公司商业信用供给减少约3.51%。研究发现,交易量提高是高铁开通减少公司商业信用供给的重要渠道。进一步分析发现,对于事前信息不对称程度较大、关系专用性投资水平较高和产品质量保证需求较低的公司,高铁开通导致公司商业信用供给减少更多。本文研究为商业信用供给的产品质量保证理论提供了进一步的补充和发展,研究结论对于理解交通基础设施的经济效应以及公司商业信用供给决策的影响因素具有一定的启示意义。     

Doing well by doing good: A quantitative investigation of the litter effect

Corporate social responsibility can prove challenging for traditional businesses as a profit-making agenda may well be in conflict with the wishes and expectations of other stakeholders. Nevertheless, if organizations can align the incentive of better business performance with beneficial outcomes on a wider social and/or environmental level, so called doing well by doing good, conflict ceases between the two aims. This paper investigates a particular global problem within the context of the fast-food industry. Discarded fast-food packaging is the fastest growing type of litter in many Western countries. The paper establishes, by using a quasi-experimental method (n = 1000), that multiple levels of a brand's evaluation are negatively affected when that brand's packaging is seen as litter. This paper also quantifies the financial impact of the litter effect on a company.     

Taking the initiative. What characterizes leaders?

Taking the initiative is a crucial element of leadership and an important asset for many jobs. We assess this element of leadership in a game in which it emerges spontaneously since people have a non-obvious possibility to take the initiative. We can show that leadership in this game correlates with real life activities associated with taking the initiative. Combining this game with other experimental games and with questionnaires, we investigate the personality characteristics that entail leadership. We find efficiency concerns and generosity to be important determinants of leadership. Leaders have an internal locus of control and are more patient than non-leaders, but they are not different from the non-leaders with respect to risk attitude. Response time patterns and the results from the cognitive reflection test show that cognitive resources are relevant in the decision to lead.     

论水利水电工程机电技术问题分析

针对早期建成的中小型水电工程中选用的机电设备存在的问题，以下笔者对我国水利工程机电技术标准体系现状进行详细分析。     

中国司法改革刍议:困境与方向

当我们总结与回顾司法改革的历程,不难发现中国的司法改革仍然存在诸多问题和面临复杂困境。这显然与司法改革的应然主体错位、司法改革的指导理念偏失以及司法改革的外部条件限制有关,这就需要确定司法改革所要依循的主导方向,以期持之以恒地推进司法改革。     

车辆电气及电子设备起动低电压的供电环境条件和试验标准解析

新版ISO标准已将车载电气及电子设备的起动低电压的供电环境条件和试验做了修订。本文对新国家标准起草中一些技术背景和标准文字中的未尽之言以及一些试验实践中应予把握的要点做了进一步的阐述。为相关专业人员在今后的标准执行中更好地应用提供些建议。     

Experimental evidence on the effect of earnings targets on managers' estimates in the financial statements

This paper reports on an experiment designed to provide evidence on whether external earnings targets, such as those imposed by analysts, influence managers' judgments about (and the related accuracy of) the value of assets/liabilities reported in the financial statements. Data from the experiment indicate that higher earnings targets result in managers reporting higher estimates of profitability/asset values, but also produce larger errors in estimating those amounts. The biased estimates and related errors are a result of managers being overly optimistic about their ability to generate outcomes that fully support their estimates. In addition, data indicate that managers, over-time, learn to make better estimates, but the relation between targets, estimates, and estimation errors persists. All of this occurred in a setting in which there were financial incentives to produce the most accurate estimates possible—nothing was to be gained by deliberately biasing estimates. This suggests that the earnings targets affected managers' judgment about amounts to be reported in the financial statements, and led to sub-conscious biases that produced results causing managers' estimates to be erroneously correlated with external earnings targets.     

一种新型电源线扭拉试验装置的设计与实现

本试验装置充分考虑了电动工具、家用电器产品标准对电源线的安全要求，采用独特的一次性电源线装夹技术，在确保拉力施加准确和扭矩施加合理的基础上保证了扭力试验和拉力试验的连贯性。     

Economic benefits from promoting linseed in the diet of dairy cows for reducing methane emissions and improving milk quality

Linseed for feeding dairy cows reduces methane emissions and increases the omega-3 content of milk. In a lab experiment, milk bottles from cows fed a diet with or without linseed were offered to French participants for eliciting their willingness to pay (WTP). Successive messages highlighting the different effects of linseed were revealed to participants. We find that messages including the ones on methane emissions and omega-3 in milk significantly impact the participants’ WTP. These WTP estimates are used for welfare simulations that underline the positive impact of a public advertising campaign informing about linseed. When informing participants via a campaign becomes difficult, some regulatory tools like a quality standard may complement this advertising campaign.