摘要:
Abstract The media plays an important role in detecting corporate financial fraud. However, little systematic research exists on the impact of media reports on corporate fraud detection; thus, our understanding of the impact is limited. Therefore, we are committed to determining how the configuration of different media report content systematically detects corporate fraud by logistical regression, grounded theory and qualitative comparative analysis (QCA). First, the media reports are classified into three major categories and 35 subclasses to determine their features through fraud triangle theory and grounded theory. Then, based on a dataset of 110 fraudulent listed companies and 110 matched listed companies from 2010 to 2020, three major features comprising 10 subclasses are identified by the logistical regression method. The causal configurations of the features of media reports that detect corporate fraud are explored using the QCA method. The results show that five particular associations can interpret corporate fraud revelation by meeting the equifinality and asymmetric causality principles. Finally, the combined model is proposed. Through 56 fraudulent listed companies and 56 matched listed companies from 2021 to 2022, the combined model is proven to be most effective in detecting corporate fraud. In summary, we offer theoretical contributions to corporate fraud detection and empirical experiences for corporate managers and regulators.
摘要:
Using the exogenous event of oil price sharp decline in 2014-2015, this paper employs the difference-in-difference method to establish a causal link between the oil price decline and the Chinese firms' labour investment. Data of listed companies in China from 2012 to 2016 are used to explore this relationship. We show that the employment for firms in industries with significant negative oil price risk exposure increases 16.4% after the oil price plummeted, that is, the oil price decline significantly promotes the firms' labour force. Additionally, the positive effect of oil price decline on the firms' labour force is more pronounced in firms with higher risk-taking, financing constraints, and industry competition. Lastly, we also document that the effect of oil price decline is through sales growth channels to increase labour demand. However, firms tend to overinvest in labour after the oil price plummeted. Based on these findings we suggest that oil price fluctuation should be an important factor for the Chinese government and enterprises when they make an economic decision related to the labour force.
摘要:
Objective: The division of responsibility in vehicle-two-wheelers accidents reflects the extent to which different fault parties contributed to the occurrence of the accident, with significant differences in the injuries sustained by the riders in accidents where diverse parties were primarily responsible. We want to explore the difference in the severity of injury of riders in different fault parties of accidents so that we can make targeted protection improvements.Methods: In this study, three generalized ordered logit models were established for the total sample (n = 1204), the sample with drivers as the primary fault party (n = 607), and the sample with riders as the primary fault party (n = 597), respectively, to explore the differential impact factors on rider injury severity in vehicle-two-wheelers accidents involving different fault parties. Inter-group difference tests were conducted on the mean rider injury severity caused by differential factors in different accidents. Combining the impact effect trends and mean differences in the model, the differences in rider injury severity in accidents involving different fault parties were analyzed from the standpoints of human, vehicle, and road factors.Results: It was found that the effects of curve on injury severity was sheerly opposite in accidents with different fault parties and that factors, such as visual obstruction, road surface condition, gender, and helmet wearing differed in their effects on rider injury severity under different fault parties accidents. This reveals the driving tendencies and states of both parties in different environments.Conclusion: Based on the differential impact factor analysis and rider injury characteristics in accidents involving different fault parties, suggestions for improvement were made from the perspectives of road facilities, and safety awareness of drivers and riders, which are beneficial for improving rider safety and providing a theoretical reference for future regulations on liability allocation.
关键词:
green building;spatiotemporal evolution;influence factors;GeoDetector
摘要:
This paper explores the spatiotemporal evolution characteristics and spatial correlation patterns of green building development differences in 41 cities in the Yangtze River Delta region from 2012 to 2020 by means of the gravity center analysis model and spatial autocorrelation analysis. In addition, it further clarifies the impact factors of the spatial differentiation pattern of green building development in combination with GeoDetector based on four dimensional factors of population and economy, market environment, policy, and other factors. The results showed that: (1) According to the analysis of the number of green buildings in each city from 2012 to 2020 and the natural discontinuity method, the development pattern of green buildings in the Yangtze River Delta region city clusters shows an imbalance, being highly concentrated in the eastern coastal areas with Suzhou (1) and Shanghai as the core. The overall trajectory of the center of gravity shows the development from southeast to northwest. (2) The global Moran's I of green buildings in the Yangtze River Delta region city clusters is greater than 0, and all passed the significance test (Z > 1.96, p < 0.01), indicating that the green buildings in the Yangtze River Delta region city clusters show typical spatial aggregation characteristics. By using the local LISA index, it is found that in the H-H spatial autocorrelation distribution pattern with Suzhou (1) and Shanghai as the core, the core city has a strong attraction ability and relatively low radiation ability. (3) Based on the explanatory power mean, the main driving factors of the spatial differentiation pattern of green building development in the Yangtze River Delta region city clusters are education level (0.6656), technical level (0.6269), and the gross domestic product (0.6091). The factor interaction shows a two-factor enhancement and nonlinear enhancement effect, and there is neither a weakening nor an independent relationship.
摘要:
The article examines the impact of a firm's product-market advertising campaign on stock price synchronization. Based on a sample of listed companies in the Chinese A-share market that have disclosed advertising expenditure, we find that the advertising expenditure of listed companies significantly increases the extent to which information about firm characteristics is incorporated into the stock price, thereby inhibiting stock price synchronization. Moreover, the negative relationship between product market advertising expenditure and stock price synchronization is more significant when the firm's internal and external information asymmetry is higher.
摘要:
This research examines the effects of financial risk on green innovations by adopting the panel Poisson model for 99 countries. We employ environmental management innovations as a proxy for green innovations and financial risk index as the main explanatory variable, documenting strong evidence that financial risk presents significantly negative impacts on green innovations by decreasing patent applications related to environmental management technologies. Moreover, we conclude that increased financial risk hinders a country's performance of green innovation by restricting foreign direct investment (FDI) inflows and foreign trade. Lastly, financial risk considerably affects the development of green innovation in democracy nations and countries with low political risk, but not in non-democracy countries and countries with high political risk. In light of this, our research should help policymakers in many nations develop workable cur-rency and valuable policies from the perspective of financial risk for enhancing their green innovation level and sustainable development.
作者机构:
[Wang, Chaolun; Xiang, Wang] Changsha Univ Sci & Technol, Key Lab Special Environm Rd Engn Hunan Prov, Changsha 410114, Peoples R China.;[Xu, Guiqiu] Guangdong Architectural Design & Res Inst Co Ltd, Guangzhou 510010, Peoples R China.;[Li, Xiaomeng] Queensland Univ Technol QUT, Ctr Accid Res & Rd Safety CARRS Q, Kelvin Grove, Qld 4059, Australia.
关键词:
expressway toll station;guidance signage;lane-changing behavior;voice warning;technique of order of preference by similarity to the ideal solution;driving simulation
摘要:
China has actively promoted electronic toll collection (ETC), increasing the proportion of ETC vehicles, and the number of ETC lanes at mainline toll stations has exceeded that of manual toll collection (MTC) lanes. To investigate the effects of ETC and MTC vehicles as guidance objects on the lane-changing behaviors of drivers, we designed three guidance signal plans, including the original sign plan (OR), a complete MTC sign plan (CMS), and a complete MTC sign plan with voice warnings (VW&CMS), for expressway mainline toll lanes. A driving simulator experiment with 40 participants was conducted to evaluate the efficacy of the plans. Generalized estimating equations were used to analyze the characteristics of lane-changing behaviors in different guidance plans, and an entropy weight model using the technique of ranking the order of preference by its similarity to the ideal solution (TOPSIS) was constructed to evaluate the guidance effects of different plans. The results showed that the CMS and VW&CMS plans significantly improved lane-changing behaviors. This improvement is demonstrated by a higher lane-changing ratio, shorter response time, earlier initiation of lane-changing location, higher speed, lower deceleration rate, and longer lane-changing duration distance. These findings can help expressway designers to optimize the guidance-sign system for mainline toll stations.
摘要:
Journal of Humanistic Psychology, Ahead of Print. <br/>Mindfulness practices adapted from Theravada Buddhism have become widespread among many in Western societies who seek stress reduction and greater present-centeredness. Less well-known is the mindfulness practice in Sufism–the mystical path of Islam–known as meditative remembrance (dhikr). While mindfulness is often understood as a self-help technique, the aim of Buddhist and Sufi meditative paths is not limited to enhancing the well-being of a self that is envisioned as strictly bounded. Rather, both meditative paths aim at unitive mystical experience, which is held to profoundly transform the meaning of the practitioner’s selfhood as such. Whereas Buddhism’s non-self-doctrine is generally understood to hold that personal selfhood is an illusion, this is not the case for Akbari Sufism. This inquiry takes a phenomenological approach, exploring the varied meanings of being or “having” a self in the context of mindfulness, and contrasting these with the humanistic psychology of Abraham Maslow. I contrast Theravada and Akbari Sufism’s understandings of the aim of meditation and the meanings of selfhood and compare both traditions with Abraham Maslow’s view of self-transcendence.
摘要:
In the context of China's 2020 dual carbon goals of peak CO2 emissions by 2030 and carbon neutrality by 2060, the security of multi-energy systems is increasingly challenged as clean energy continues to be supplied to the system. This paper proposes a risk assessment and enhancement strategy for distributed energy stations (DESs) based on a security boundary. First, based on the coupling relationship between different energy sources and combining the mutual support relationships between different pieces of equipment, a security boundary for DESs was constructed. Second, based on the characteristics of different sources of equipment failure, the real-time failure probabilities of equipment and pipelines were calculated in order to obtain the security risks of DES operation states based on the security boundary. Finally, for equipment and pipelines at high risk, an economic security enhancement strategy is proposed, and the Pareto solution set is solved using a multi-objective algorithm. The analysis shows that the proposed method can effectively quantify the security risks of energy systems in real time, and the proposed enhancement strategy takes into account both economics and system security.
期刊:
International Journal of Finance & Economics,2023年28(2):1201-1213 ISSN:1076-9307
通讯作者:
Huang, Chuangxia
作者机构:
[Yang, Xin; Chen, Shan; Huang, Chuangxia] Changsha Univ Sci & Technol, Sch Math & Stat, Hunan Prov Key Lab Math Modeling & Anal Engn, Changsha 410114, Hunan, Peoples R China.;[Liu, Hong] Cent South Univ Forestry & Technol, Sch Econ, Changsha, Hunan, Peoples R China.;[Yang, Xiaoguang] Chinese Acad Sci, Acad Math & Syst Sci, Beijing, Peoples R China.
通讯机构:
[Huang, Chuangxia] C;Changsha Univ Sci & Technol, Sch Math & Stat, Hunan Prov Key Lab Math Modeling & Anal Engn, Changsha 410114, Hunan, Peoples R China.
关键词:
Financial institution network;jump volatility;panel data regression model
摘要:
The identification of systemically important financial institutions (SIFIs) is an important measure to deal with systemic risks. To achieve this goal, we first use generalized variance decomposition method and granger causality test to construct jump volatility spillover networks of Chinese financial institutions based on the 5-min high-frequency data. Then, out-strength and in-strength are adopted to analyze the SIFI. Finally, we use panel data regression model to investigate the determinant of the SIFIs. The empirical results show that: (a) The network density reaches a peak when the financial system under pressure during the China's stock market disaster of 2015. (b) Large banks and insurances usually display systemic importance, while some small financial institutions are also SIFIs due to their high value of out-strength and in-strength. (c) There are obvious differences in the factors that affect the out-strength and in-strength based on panel data regression model, but turnover rate, jump volatility, firm size and growth rate of total assets are the common driving factors.
摘要:
This research mainly examines the influence of democracy on forest protection by employing an estimation of generalized method of moments (GMM) and data on 111 countries during the period 1991-2018. The empirical results suggest that democracies tend to do better at forest protection, which is supported when we conduct several robustness tests. If the regimes transform from lower democratic to higher democratic, then this is also beneficial for forest protection. Although liberal democracy, electoral democracy, participatory democracy, and deliberative democracy promote forest protection, egalitarian democracy does not bring about the forest pro-tection. Additionally, better control of corruption strengthens the positive effect of democracy on forest pro-tection, while the utilization of renewable energy, trade globalization, and business freedom weaken it. Finally, parliamentary democracies and majoritarian democracies are more likely to protect forests than presidential democracies or proportional democracies.
作者机构:
[Hu, Peng; Zhang, Fei; Han, Yan] Changsha Univ Sci & Technol, Sch Civil Engn, Changsha 410114, Peoples R China.;[Yan, Naijie] China Acad Railway Sci Corp Ltd, Railway Engn Res Inst, Beijing 100081, Peoples R China.
通讯机构:
[Han, Y ] C;Changsha Univ Sci & Technol, Sch Civil Engn, Changsha 410114, Peoples R China.
关键词:
high-speed train;fluctuating wind speed spectra;non-stationary wind;coherence function
摘要:
To promote energy saving, emission reduction, and sustainable development of high-speed trains, as well as achieve low-carbon operation of these trains. It is necessary to establish a fluctuating wind speed spectra model that can accurately describe the characteristics of the fluctuating wind speed field of the moving vehicle. This will help explore the effects of strong winds on the running resistance, energy consumption, safety, and comfort of trains. In this paper, based on Priestley's evolutionary power spectral density (EPSD) theory, an efficient method was developed for generating the fluctuating wind speeds at the moving point under the non-stationary wind field. On such basis, the effects of different mean wind speeds, ground clearances, temporal modulation function parameters, and vehicle's moving speeds on the time-varying correlation function ratio of fluctuating wind speed at fixed and moving points were analyzed. Subsequently, the relationship between the time-varying correlation functions of fluctuating wind speed at the fixed and moving points was established by analyzing the sensitivity of the above parameters, and a theoretical model of fluctuating wind speed spectra of the moving point under the non-stationary wind field was proposed. In addition, the relational expression of fluctuating wind speed spectra of the moving point under stationary and non-stationary wind fields was established, which was further validated using the fluctuating wind speed spectra model at the fixed points with different modulation function forms. The results demonstrated that the direct generation method can avoid n times of POD decomposition and Ns n-ary sumation j=1nNqjj times of FFT calculation, improve the calculation speed, and save memory. The proposed fluctuating wind speed spectra model at the moving point under the non-stationary wind field is in good agreement with the corresponding target one, indicating the high accuracy of the proposed model. Meanwhile, it is also noted that the fluctuating wind speed spectra at the moving point under the non-stationary wind field can be obtained by modulating the spectra under the stationary wind field using temporal modulation function, which is the same as that of the fluctuating wind speed spectra at fixed points under the non-stationary wind field.
摘要:
For each road crash event, it is necessary to predict its injury severity. However, predicting crash injury severity with the imbalanced data frequently results in ineffective classifier. Due to the rarity of severe injuries in road traffic crashes, the crash data is extremely imbalanced among injury severity classes, making it challenging to the training of prediction models. To achieve interclass balance, it is possible to generate certain minority class samples using data augmentation techniques. Aiming to address the imbalance issue of crash injury severity data, this study applies a novel deep learning method, the Wasserstein generative adversarial network with gradient penalty (WGAN-GP), to investigate a massive amount of crash data, which can generate synthetic injury severity data linked to traffic crashes to rebalance the dataset. To evaluate the effectiveness of the WGAN-GP model, we systematically compare performances of various commonly-used sampling techniques (random under-sampling, random over-sampling, synthetic minority over-sampling technique and adaptive synthetic sampling) with respect to dataset balance and crash injury severity prediction. After rebalancing the dataset, this study categorizes the crash injury severity using logistic regression, multilayer perceptron, random forest, AdaBoost and XGBoost. The AUC, specificity and sensitivity are employed as evaluation indicators to compare the prediction performances. Results demonstrate that sampling techniques can considerably improve the prediction performance of minority classes in an imbalanced dataset, and the combination of XGBoost and WGAN-GP performs best with an AUC of 0.794 and a sensitivity of 0.698. Finally, the interpretability of the model is improved by the explainable machine learning technique SHAP (SHapley Additive exPlanation), allowing for a deeper understanding of the effects of each variable on crash injury severity. Findings of this study shed light on the prediction of crash injury severity with data imbalance using data-driven approaches.
通讯机构:
[Wenjin Tang] S;School of Economics and Management, Changsha University of Science and Technology, Changsha, China
关键词:
Net interest margin;Non-interest income;Market concentration;African banks;Non-African banks
摘要:
Developing countries are noted for higher interest margins, and banking in Africa has recently witnessed the rise of African regional banks with a Pan-African ambition and the quest to modify the banking landscape. So far, the banking literature has received little attention regarding the determinants of net interest margin (NIM) of commercial banks in Africa, and the empirics across domestic, regional African, and non-African banks has not been studied either. Thus, we fill this lacuna by analyzing the intermediation margins of commercial banks across Africa while detailing the determinants for the three banking groups. We employ annual data of 552 commercial banks for eight years (2011 to 2018) across fifty-two African countries. The results of the study indicate that bank intermediation margin in Africa is a function of pure spread variables (bank concentration, credit risk, risk aversion, interest rate volatility), income from non-traditional banking activities, specialization, other bank-specific (transaction size, operating cost) and macro-economic variables (financial innovation and GDP). The results also suggest that there are some similarities and nuances for the determinants of bank intermediation margins across the domestic, regional African, and non-African banks. The results obtained have significant policy implications for bank regulation and financial sector development.
摘要:
Abstract: Asphalt mastic is the most important binder in asphalt mixtures and its rheology is inevitably influenced by the mineral aggregates. Due to the little consideration that has been paid to aggregates’ effects, the rheological properties of mastic films have not been accurately characterized for the present method. Therefore, this study aimed to investigate the rheological characteristics of mastic affected by mineral aggregates and reveal its fundamental mechanism of interfacial interaction. The results suggest that the aggregates increased the stiffness and toughness of mastic within the linear and nonlinear viscoelastic regions. The mastic on limestone had a higher linear viscoelastic modulus than that on basalt below 35 °C, and its ratio reached up to 1.18. However, the modulus of the mastic on basalt surpassed that on limestone by over 50 °C, and the maximum ratio reached 2.17. The mastic in contact with the limestone had a higher failure strain and failure modulus than that in contact with the basalt, the ratios of which reached 1.60 and 1.32, respectively. The macrorheological characteristics are closely related to the nanostructures and intermolecular interactions of bitumen–mineral systems. The coexistence of a stable bitumen nanostructure and an adsorbed layer on the calcite substrate provided a strong bonding energy and high resistance to external shear deformation, leading to the high stiffness and toughness of the limestone. Abundant metal ions from augite and albite diffused into the bitumen layer and destroyed its nanostructure, decreasing the stability of the mastic–basalt interface system. The non-bond energy of bitumen-calcite was 14.15% higher than that of bitumen-albite, and the ratio of shear stress of the bitumen-calcite to the bitumen-albite reached up to 6.8. Therefore, the calcite in limestone reinforced the bitumen, and the augite and albite in basalt destroyed the bitumen colloidal structure. This provides a fundamental understanding of the rheological characterization of mastic on mineral aggregates. Keywords: asphalt mastics; rheology; mineral aggregates; nanostructure; molecular dynamics
摘要:
Abstract: Based on analytical and simulation methods, this paper discusses the path choice behavior of mixed traffic flow with autonomous vehicles, advanced traveler information systems (ATIS) vehicles and ordinary vehicles, aiming to promote the development of autonomous vehicles. Firstly, a bi-level programming model of mixed traffic flow assignments constrained by link capacity is established to minimize travel time. Subsequently, the algorithm based on the incremental allocation method and method of successive averages is proposed to solve the model. Through a numerical example, the road network capacity under different modes is obtained, the impact of market penetration on travel time is analyzed, and the state and characteristics of single equilibrium flow and mixed equilibrium flow are explored. Analysis results show that the road network can be maximized based on saving travel time when all vehicles are autonomous, especially when the autonomous lane is adopted. The travel time can be shortened by increasing the market penetration of autonomous vehicles and ATIS vehicles, while the former is more effective. However, the popularization of autonomous vehicles cannot be realized in the short term; the market penetration of autonomous vehicles and ATIS vehicles can be set to 0.2 and 0.6, respectively, during the introduction period. Keywords: heterogeneous traffic flow; autonomous vehicles; capacity; market penetration; bi-level programming
关键词:
ESG disclosure;internal control level;real earnings management;the executive pay gap;the stakeholder theory
摘要:
This study investigates the mechanisms through which the executive pay gap affects the disclosure of environmental, social, and governance (ESG) information. Utilizing panel data from China's A-share listed firms between 2012 and 2020, our findings reveal a significant positive correlation between the executive pay gap and ESG disclosure, with real earnings management playing a partial mediating role. Notably, the impact of the executive pay gap on ESG disclosure is more pronounced in voluntary disclosure firms and those with low internal control levels, as compared to mandatory disclosure firms and those with high internal control levels. This study provides international evidence for the strategic disclosure behavior of ESG information and the necessity of ESG disclosure regulation.
摘要:
This paper studies the relationship between three types of risk borne by banks and climate policy uncertainty (CPU). We use panel data for 210 commercial banks in China from 2009 to 2020. This paper has the following main conclusions: Firstly, climate policy uncertainty significantly reduce the passive and active risks borne by banks and increase the insolvency risks borne by banks; Secondly, the impact of CPU on the passive risks borne by listed banks is greater than that of unlisted banks, and the impact of CPU on the active and insolvency risks borne by listed banks is less than that of unlisted banks; Thirdly, the impact of CPU on the three types of risks borne by banks is most pronounced among rural banks and state-owned banks and least pronounced among joint-stock banks. After a series of robustness tests, such as the system GMM approach, different sample periods and controlling for endogeneity, the results of this paper remain robust. We also used the difference in difference (DID) method to study the policy dynamic effects of the 2016 Paris Agreement, and we passed a parallel trend test. Our results provide insights for policy makers and investors. Policy makers should formulate visionary policies in order to minimize the adverse effects of CPU; investors should keep an eye on the implementation of climate policies and pay attention to the impact of policies on the economy, so that they can adjust their in-vestment strategies rationally.
摘要:
Abstract: Reversible lanes constitute an important solutions for sustainable transportation, with the aim to solve the practical problem of reversible lane optimization of urban road networks constrained by adjustment time. Considering the relationship between the number of lanes and the capacity of sections, a mixed-integer bilevel programming model of reversible lane optimization constrained by adjustment time is constructed in order to minimize the total travel time of the system. The results show that the model can effectively obtain the optimal strategy for any number of reversible sections subject to adjustment time constraints. With the increase of the number of reversible sections that can be optimized within the adjustment time, the cumulative reduced system time increases monotonically and the road network optimization effect improves, but as a whole, the optimization effect of the newly added reversible sections in each stage shows a decreasing trend. When the number of reversible sections that can be optimized within the adjustment time reaches a certain number, increasing the number of reversible sections will have a limited further effect on the overall system. For the reversible lane optimization problem of urban road networks, only efficient reversible sections need to be optimized to achieve a good optimization effect. Keywords: traffic engineering; transport planning; reversible lane; bilevel programming
期刊:
Technological Forecasting and Social Change,2023年188:122322 ISSN:0040-1625
通讯作者:
Chang, Chun-Ping
作者机构:
[Wen, Jun; Zhao, Xin-Xin] Xi An Jiao Tong Univ, Sch Econ & Finance, Xian, Peoples R China.;[Fu, Qiang] Changsha Univ Sci & Technol, Sch Econ & Management, Changsha, Peoples R China.;[Chang, Chun-Ping] Shih Chien Univ, New Taipei, Taiwan.
通讯机构:
[Chang, Chun-Ping] S;Shih Chien Univ, New Taipei, Taiwan.
关键词:
Extreme weather;Green innovation;Flood
摘要:
This research investigates the effect of extreme weather events on green innovation by using unbalanced panel data covering 117 countries from 1971 to 2018 and documents strong evidence that extreme weather has a significantly negative impact on green innovation. We also find among the four extreme weather events such as droughts, extreme temperature, floods, and storms that floods have the most prominent adverse impact on green innovation. Furthermore, the significantly negative effect of extreme weather is manifested in countries with a high level of corruption and low level of trade openness, but not in the countries with a low level of corruption and a high level of trade openness. Lastly, we show that extreme weather events have an adverse impact on green innovation by decreasing economic growth level, hindering financial development, widening income inequality, damaging the accumulation of human capital, and increasing the political risk.