Fair value disclosures and crash risk

In response to the public criticism of the inadequate disclosures mandated by SFAS No. 157, Fair Value Measurements, the FASB issued ASU (Accounting Standards Update) 2010–06, Improving Disclosures about Fair Value Measurements, and ASU 2011–04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements, in an effort to increase the reporting transparency. We examine whether the increased fair value disclosures required by these two updates effectively decrease crash risk, defined as the frequency of extreme negative stock returns. In support of the hypothesis, we find that increased transparency from these updates reduces crash risk among U.S. banking firms and that the reduction is greater in banks that have a higher level of Level 3 financial assets.     

Determinants of Relationship Quality and Loyalty in Personalized Services

The study adopts a relationship perspective to examine and better understand customers' interactions with service firms' contact personnel, physical environment and customer environment and their influence on the relationship quality, that is trust and satisfaction, and consequently loyalty. The conceptual model, which integrates relational and evaluative perspectives, is validated in the Asian context of personalized service through findings from a survey of 325 respondents. The findings at the aggregate level indicate that while the physical environment is an important determinant of both trust and satisfaction in personalized service encounters, the customer environment influences only satisfaction but not trust. Service contact personnel's friendliness and knowledge of customers strongly influence relationship quality; while expertise, similarity and disclosure influence trust but not satisfaction. Both relationship trust and satisfaction were found to significantly influence loyalty to the service provider. At the disaggregate level, trust was found to be a stronger predictor of loyalty for high-end service providers while satisfaction was a stronger predictor of loyalty for low-end service providers. The implications for high-end and low-end service providers to enhance loyalty by strategically leveraging on key customer-firm antecedents of relationship trust and satisfaction are discussed.     

Environmental Protection Becomes the Trend for Dye Industry Transformation

Digitat printing,green and environment-friendly dyeing auxiliaries become focus As one of the top exhibitions for global dyeing industry,the 12th China International Dye Industry Pigments and Textile Chemi cals Exhibition was held on April 11,2012 in Shanghai.In the exhibition,as the key fields for recent two years,environment friendly dyeing auxiliaries and printing equipments continued to be hot issues.Environmental protection for textiles and textile production was attached much importance,and non-toxic,non-polluting “green fabric” has become the mainstream for production and consumption.     

Top Galleries Come Together for Art Beijing 2011

From April 29 to May 2,2011,the Art Beijing 2011 Contemporary Art Fair was held at the New Hall of the National Agricultural Exhibition Center in Beijing. The theme wasPushing Forward Chinese Contemporary Art.The main art fair for the Art Beijing brand—the Art Beijing Contemporary Art Fair has been successfully held for five consecutive years,presenting a perfect balance of Asian and international aesthetics. The fair also provides a platform for academic and economic perspectives toward the development ...     

China to Promote Investment in Jamaica

Jamaica is one of China＇s important trade partners in the English-speaking Caribbean, in recent years, bilateral trade has developed rapidly, although last year, because of the economic crisis, bilateral trade has been greatly affected.According to China Customs statistics, bilateral trade in 2008 amounted to US$291 million. Influenced by the financial crisis, bilateral trade between China and Jamaica in 2009 was US$2.19 million, down 25.7% when compared with the same period in 2008. However, with the continuous development of the two economies, bilateral economic and trade has great potential. Dur- ing the state visit of the Jamaican Prime Minister to China,     

India-China Bilateral Trade to Touch $60 Billion

On occasion of National Day of India at Shanghai World Expo, an India Business Forum was held on 19 August 2010. One of the largest ever business delegation from India led by Minister of State for Commerce ＆ In- dustry, Mr. Jyotiraditya M Scindia at- tended in Shanghai from 17th August to 19th August 2010.     

Dusseldorf's Pro-China Strategy

Since 2004,the number of enterprises China has invested in Dusseldorf has tripled.This is attributed to Dusseldorf's “proChina” strategy,which aims at providing investors with customized and oneto-one service guidance to help them adapt to the local conditions and step onto the track.So far,Dusseldorf has become a region in Germany with the fastest growth in the number of Chinese enterprises,revealed Uwe Kerkmann,Director of the Germany Dusseldorf Economic Promotion Bureau,in an interview with China's Foreign Trade.     

A True Partnership for Stronger Intellectual Property Protection in China

<正>From 2007 to 2011,the EU-China IPR2 Project reports successful cooperation bet ween EU and China,according to a closing ceremony held by the EU-China IPR2 co...     

A Fairy Tale Trip in the World Expo

Summer holiday is here. Many parents wish to take their children to see the World Expo. But there are so many extraordinary pavilions that you may have a puzzle. Among the pavilions, which ones are the paradise for children？ Which ones are filled with surprise？ For a better choice of what you are interested in, here are some pavilions for your reference.