The Effect of Earnings–Announcement Timing on Earnings Management

This paper examines whether firms which delay earnings announcements engage in earnings management. The cross–sectional version of the modified Jones 1995 model is used to estimate 'normal' accruals. Prior research has documented that, on average, delayed earnings announcements are associated with negative earnings surprises. Our evidence suggests that the market anticipates unfavorable earnings news when it observes reporting delays. As a consequence, late reporters appear to make the most of a bad situation by employing income–decreasing accruals in big–bath–type earnings management and in contractual renegotiations. We find that the magnitude of income–reducing abnormal accruals is related to the reporting lag.     

黑河流域生态环境保护和建设

黑河是我国西北地区一个较大的内陆河，该流域由于人口压力，林牧矛盾，水资源粗放利用，出现了严重的土地沙化，盐化，沙尘暴等生态问题，本文提出应执行抢救性水源林生态环境建设，合理配置和科学利用水资源，实施跨流域调水等补水工程，构建生态农业体系的发展方略，实现黑河流域生态良性循环，促进区域经济，社会的可持续发展。     

关于社会责任会计的辨析

随着许多社会问题越来越严重,人们要求企业在追求微观利益的同时,也要承担相应的社会责任。社会责任会计应运而生,并成为会计关注的热点问题。本文主要对社会责任会计与传统企业会计、社会会计、责任会计和环境会计之间的关系进行分析,以期为更准确的理解社会责任会计提供参考。     

上市公司内部审计管理战略初探

上市公司内部审计在建立完善企业内部控制、加强内部管理、提高企业核心竞争力方面发挥着越来越大的作用。本文认为,在国际、国内经济形势日益发生变化的今天,如何从战略的角度开展内部审计的核心专长和核心能力的培养;内部审计人员的人事、招聘管理和内部审计人员的绩效评价管理的研究,显得十分重要。     

中国物流现状与发展

论述了我国物流的现状和存在的问题；分析了我国经济发展和改革对物流业提出的新要求；对如何加快交通运输业的发展、建立现代化物流中心等问题应采取的发展对策进行了探讨．     

中国地方政府债务管理“弱动力”问题研究

近年来地方政府债务问题成为我国改革与发展中的一个重点和难点。作为债务人和最直接、最主要的债务管理者,地方政府的债务管理动力是否充足,直接关系着地方政府债务的运行状态和债务管理体系的建立。当前,地方政府的债务管理活动尽管透露出一定的创新动力,但总体上看仍存在明显的“弱动力”问题,尚不足以推动债务管理的改革。该文认为,强化地方政府债务管理动力,中央政府应授予地方政府合法举债权,将债务管理纳入地方政府绩效考核体系,硬化地方政府的预算约束,并完善对地方政府债务管理的监督制约。     

Do constraints created by economic growth targets benefit sustainable development? Evidence from China

An economic growth target is a declaration by policy authorities of commitment to that target and the corresponding allocation of resources. The constraints created by economic growth target are an important economic management method in China, which has helped China's economy to achieve remarkable achievements. However, it has also brought about serious environmental problems, threatening China's sustainable development. Using the data about economic growth targets in the work reports of 30 Chinese provincial governments from 2006 to 2017, this paper constructs several spatial measurement methods, such as the spatial Durbin model, to examine the constraints created by economic growth target's impacts on air pollution. The main conclusions are as follows. First, a significant “U-shaped” relationship exists between the constraints created by economic growth targets and air pollution. Second, the spatial Durbin model analysis revealed that PM_2.5 across China's provinces display significant positive spatial spillover effects and spatial agglomeration characteristics. Third, the direct, indirect, and total effects of constraints created by economic growth targets on air pollution are all statistically significant and depict a “U shape.” Finally, the constraints created by economic growth targets have an apparent threshold effect on air pollution, and the inhibiting effects increase with human capital and industrial restructuring. However, with the increase in foreign direct investments, constraints created by economic growth targets may increase air pollution. The conclusions of this paper are of great significance for improving the management of local government economic growth targets and sustainable development.     

Corporate Social Responsibility,Firm Value and Corporate Governance Code Revisions: The Asian Evidence*

The present study examines the relationship between corporate social responsibility (CSR) and firm value, and the effects of corporate governance code revisions on the relationship. We examine this relationship for: (i) a high‐income country, Japan; (ii) middle‐income countries China, Malaysia and Thailand; and (iii) low‐income countries India and Indonesia. We use the Heckman two‐stage sample selection bias approach for the empirical analysis. We find that Japanese stakeholder CSR and environmental CSR have a smaller positive effect on firm value compared to the middle‐income countries, but we do not find any statistically significant association for the low‐income countries. In addition, we find that only Japanese corporate governance code revisions significantly contribute to the positive relationship between CSR and firm value, which concurs with the new recommendations documented in the revised codes of corporate governance. The present study reveals that foreign major shareholders matter to the value creation of CSR in Japan and the middle‐income countries of China, Malaysia and Thailand.     

Chinese relationship management: a qualitative study of banking in New Zealand

This study investigates the relational factors and motivations of Chinese migrant consumers towards financial service providers in New Zealand. Using convergent interviews, a deeper understanding is developed of immigrants’ relational behaviour with service providers. These relationships with service providers are significantly influenced by traditional Chinese values and guanxi and relational embeddedness plays an important role in how they are developed. The research contributes a better understanding of the interplay between Eastern and Western cultures in service relationships among immigrant groups. A general theory of the Chinese perspective of customer relationship management is developed. The implications for how marketing practitioners manage their relationships with migrant customers are explored.     

Consumer specialization and the Romantic transformation of the British Grand Tour of Europe

This paper posits that significant changes in 19th century British recreational travel patterns resulted from a change in the manner in which tourists used entertaining stimuli in order to attain pleasure. Consumers no longer merely viewed arousing stimuli, but attempted to use them to produce emotional states of being which they could partially modify to intensify pleasurable feelings (Damasio, Looking for Spinoza: Joy, sorrow, and the feeling brain, William Heinemann, 2003). The impetus for this modification stemmed from an increasing awareness that emotional responses could be to some degree self-cultivated, as embodied in the Romantic ethos that become popular at the time via the emergence of the paperback novel and magazine industry (Campbell, The romantic ethic and the spirit of modern consumerism, Blackwell, 1987). By learning how to manipulate and modify mental images in a way that may not necessarily correspond with objective reality, Romantic tourists learned to elicit pleasure through engaging of their imagination. Such a change in the mode of pleasure seeking had important long run economic consequences for tourist regions throughout the European continent.