你要好好睡

对于习惯以工作忙为借口而牺牲睡眠时间的职场人，尤其是第二天还要开车上班的你，熬夜不仅会给身体带来潜在的危险，还有可能正在悄悄侵蚀你的心理和精神健康，增加你患上抑郁症的可能。     

Horizontal Equity and the Taxation of Employed and Self-Employed Workers

The schedular system of income tax in the UK frequently comes under attack, not least in relation to the distinctions it draws between the tax treatment of the employed and the self-employed. However, on examination, it appears that non-schedular systems of taxation share both these distinctions and the difficulties that arise from them, albeit to varying degrees. The division between employed and self-employed is also problematic for social security systems. These difficulties are found, to a greater or lesser extent, in all the jurisdictions studied by the authors. It may be argued that all or some of the tax and social security differences are justified by fundamental economic and legal differences between the nature of employment and self-employment relationships. This may be true where the relationships compared are unambiguously, on the one hand, employment and, on the other, self-employment. However, there have always been non-standard relationships that combine characteristics of both these broad categories. This grey area appears to be increasing with changing work patterns. Consequently, the simple dichotomous system adopted by the UK tax and social security systems has come under pressure. This article considers the problems arising from this situation and some of the ideas that have been put forward to deal with them. JEL classification: H24, K34.     

XBRL and Accruals: Empirical Evidence from China

We examine whether XBRL adoption by publicly traded firms on the Shanghai Stock Exchange and Shenzhen Stock Exchange is related to the level of total accruals that firms report in the pre‐XBRL versus post‐XBRL periods. Our results indicate that the level of total accruals in the post‐XBRL period is lower relative to the pre‐XBRL period. This finding is robust to several controls for macroeconomic conditions and firm fundamentals. Moreover, we find this main effect is most prominent for firms that are most likely to benefit from greater transparency: high‐growth firms, small firms, and firms in high‐technology industries. One interpretation of our results is that XBRL implementation decreases investor’s information acquisition costs and thereby improves their ability to detect earnings management; managers in turn reduce accruals.     

Determinants of the Time Series of Earnings and Implications for Earnings Quality*

This paper examines whether differences in accrual accounting methods across balance sheet accounts influence the time‐series process of earnings. We define earnings quality as the responsiveness of earnings to shifts in permanent earnings and predict that responsiveness will increase in a firm's use of variable rate debt, where accruals move directly with shifts in interest rates. We also predict that responsiveness will decrease in a firm's investment in property plant and equipment because depreciation is largely predetermined and does not respond to shifts in opportunity costs. </P><P>To test these hypotheses, we regress earnings on lagged earnings and a proxy for permanent earnings (that is, the implied dividend annuity in lagged equity value). Within the context of an adjustment cost model, this regression captures the responsiveness of earnings by the coefficient on lagged price and by one minus the coefficient on lagged earnings. Consistent with this framework, we find the unconstrained estimated coefficients on these two variables to be negatively correlated. Furthermore, consistent with our hypotheses, we find that the coefficient on lagged earnings (lagged price) is positively (negatively) associated with the relative magnitude and life of fixed assets on the balance sheet and negatively (positively) associated with the relative magnitude of variable rate debt on the balance sheet.</P>