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The purpose of this paper is to explore how a politically connected firm moderates the relationship between media coverage and market value. More specifically, the authors are interested in the interplay of an external corporate governance (CG) mechanism with an internal one. By interacting different mechanisms, this paper advances the empirical setting of application and functions of the corporate governance.

This paper tests the hypotheses presented using panel data with a fixed-effect model, by assembling and exploiting a unique, hand-collected set of data on media coverage consisting of over 164,000 media reports and a politically connected board of directors comprising over 12,000 CVs tracked from 2010 to 2014. Data is originally from Brazil, a country where political connections are highly used by firms and that has been a place of much research on corporate political activity.

The results of this paper suggest that a politically connected board of directors can mitigate the negative effects of media coverage on market value. Overall, the results imply that the validity of a CG mechanism might be affected by other mechanisms.

The findings of this paper imply the need for research focusing on the mutual effects of different CG mechanisms. While CG is understood as a set of mechanisms, new research could focus on the interplay of these mechanisms.

The findings suggest that the presence of former politicians and government officers on the board dissipates bad news reported by the media and boosts market value when media is positive. To maximize investment returns, investors should analyze firms' political human capital.

To the best of the authors’ knowledge, this paper is the first to develop hypotheses on the moderation effects of a politically connected board on the relation between media coverage and market value. This is relevant because this brings insights on how firms could jointly manage these mechanisms.

The purpose of this study is to investigate the effects of capital market liberalization on audit reporting and pricing. The authors use the announcement of the Shanghai-Hong Kong Stock Connect program in China as a shock to capital market liberalization.

The authors use the difference-in-differences method to study the difference in changes in the frequency of modified audit opinions and audit fees between the treatment group and the control group.

This study finds that capital market liberalization increases reputational and litigation risks for auditors and leads to more conservative audit reports. In addition, capital market liberalization stimulates the management of eligible firms to improve the information environment, helps to reduce information asymmetry and decreases audit fees. Specifically, the authors identify the channels of active foreign institutional investors as a new governance mechanism through which capital market liberalization impacts eligible firm and auditor decisions.

This study complements the literature by showing that capital market liberalization may bring a new and strong governance mechanism for eligible firms and auditors.

This study may provide new references for active foreign institutional shareholders as a new and strong governance mechanism in weak institutional regimes such as China, auditors’ optimization decisions when litigation risks increase and management’s improvements in the information environment under the monitoring of foreign institutional shareholders.

Overall, this study contributes to the literature by showing that capital market liberalization can bring a new governance mechanism for the management of eligible firms and auditors in a weak institutional environment. Foreign institutional shareholders may be superior to the domestic market forces and other corporate governance in the role of monitoring the management of eligible firms and auditors.

This paper examines the influence of different types of political connections and political uncertainty on earnings credibility in Pakistan. Based on discernible differences, connected firms are grouped into civil connected and military connected firms.

The authors provide evidence concerning the earnings credibility incentives of groups of political connected firms and report that their incentives are significantly different. The findings remain robust to alternate methods of earnings credibility.

The findings evidence that civil (military) connected firms report less (more) credible earnings than the control group. High political uncertainty reduces the credibility of earnings. Results for the interaction of political connections and political uncertainty variables are not significant.

The paper investigates just one aspect of Pakistan's political economy, i.e. credibility of earnings; thus, it requires to be cautious on part of readers and policymakers. To reach a clearer conclusion, earnings credibility should be ex amined in the larger context, i.e. in conjunction with rent extractions, etc. A possible extension of the paper can be to investigate the channels of rent extractions used by the two types of connected firms.

The paper has contribution for policymakers as well as users of general purpose financial reports. The findings indicate that the users of general purpose financial reports should be more careful in the use of financial information during political uncertain periods and also of politically connected firms. Furthermore, policymakers should keep the larger context at the forefront while attempting to strengthen the enforcemnet regime.

This paper adds to extant political connections literature by identifying two types of politically connected firms and report that both groups have divergent financial reporting incentives. Furthermore, political uncertainty reduces the credibility of earnings.

The purpose of this paper is to examine the association between politically connected boards (both supervisory boards [SBs] and boards of directors [BODs]) and firm performance.

We focus on the political connections of SBs and BODs separately and estimate a quadratic model based on 1,099 Indonesian listed firm-year observations. Additionally, we address endogeneity problem by using sample selection model, generalized method of moments (GMM), propensity score matching\ and lagged variables regression.

We find that political connections of SBs are more significantly associated with firm performance than that of BODs. Furthermore, such an association is not monotonic, in that the relationship declines after a certain level of political connections. We also find that stand-alone firms with political connections perform better than firms belonging to family business groups. Our results are robust to alternative measures and to tests for endogeneity.

This study contributes to the literature by proposing non-linear model to incorporate the rent-seeking and resource dependence arguments. Although previous studies use regression analysis (linear model) and find mixed results on the association between political connections and firm performance, our non-linear model extends our understanding of the relationship between political connections and firm performance. We extend corporate governance literature by examining the role of political supervisory boards in the dual board system and the role of family business group in Indonesia. Several limitations are addressed to interpret all the findings. We use one period of the presidency (SBY-Susilo Bambang Yudhoyono) in Indonesia as our sample, but other regimes are not considered. We collect political connection and family business group information based on publicly data available. For politically connected firms, we do not have information whether they obtain connections through ruling parties or not.

Practitioners (such as companies and policymakers) can use our models to consider the level of political connections that can improve corporate’s performance. Additionally, they can use our findings to design corporate governance policies.

The paper identifies the use of the non-linear model on the association between political connections and firm performance in Indonesian dual board system.

The purpose of this paper is to examine whether the political connections of listed firms in China affect how the market reacts to cases of financial misrepresentation investigated by the regulatory authorities.

The authors use an event study method and the financial misrepresentation events in China stock markets as research setting and empirically test the association between market reactions to the announcement of financial misrepresentations and the presence of political connections.

The results show that on average, there is no significant market reaction to financial misrepresentation for politically connected firms. In contrast, however, there is a significantly negative market reaction for non-connected firms, which suggests that investors do not punish politically connected firms for financial misrepresentation. The authors argue that politically connected companies use the altered financial information to gain legitimacy and obtain benefits from the government. Consistent with the argument, the authors find that in the years after they disclose their financial misrepresentation, firms with political connections are more likely to increase their bank loans than firms without political connections.

The authors provide a new explanation for the low-earnings quality of politically connected firms.

Connected Health is an emerging and rapidly developing field never before witnessed across the healthcare sector. It has the potential to transform healthcare service systems by increasing its safety, quality and overall efficiency. However, as healthcare technologies or medical devices continuously rely more on software development, one of the core challenges is examining how Connected Health is regulated – often impacting Connected Health innovation. The purpose of this paper is to present an understanding of how Connected Health is regulated. Many of these regulatory developments fall under “medical devices”, giving rise to Software-as-a-Medical Device (SaaMD).

Through an extensive literature review, this paper demystifies Connected Health regulation. It presents the outcome of expert discussions which explore the key regulatory developments in the context of Connected Health to provide a practical guide to understanding how regulation can potentially shape healthcare innovation.

Several key issues are identified, and the authors present a comprehensive overview of regulatory developments relating to Connected Health with a view to support the continued growth of IT-enabled healthcare service models. The authors also identify the key challenges in Connected Health and identify areas for future research.

A key outcome of this research is a clearer understanding of the opportunities and challenges that regulation and standards present to Connected Health. Furthermore, this research is of critical importance in a first attempt towards recognising the impact of regulation and standards compliance in Connected Health.

In hydraulically‐operated retractable wheels for aircraft the actuating member comprises a jack having a piston connected on one side with a motive pump and an exhaust, and on the other side with a hydro‐pneumatic pressure accumulator into which the liquid is forced by the jack during each lifting operation, the stored energy in the accumulator actuating the jack to assist the action of gravity when lowering the wheels. The retractable wheels R (Fig. 1) are each pivoted at A and connected to a fluid‐operated piston in a cylinder V pivoted at T, the wheels being drawn up into the machine through spring‐operated doors C1, D1 which are opened by fluid‐operated means G2 (Fig. 2) when the wheels are lowered. The cylinder V is connected by pipe 3 and non‐return valve 4 to a pump 1 supplied from a reservoir 2, surplus liquid being bye‐passed from the pump through a pipe 16. A pipe 5 for exhausting the cylinder V is connected through a manually‐operated valve 6 to the reservoir 5 and a branch 3a from the pipe 3 is connected to a cylinder 8 whereby pressure is applied to move valve 12 and non‐return valve 10 to place the other end of the cylinder V to discharge through pipes 3b, 3e to a pneumatic accumulator 9 supplied with air from a cylinder 14. When pressure is supplied by the pump 1 to the cylinder V to retract the wheels, a projection on the valve 12 opens the valve 10 and the liquid in the other end of the cylinder is forced into the accumulator 9, and when the wheels are to be lowered the valve 6 is opened by the lever 7 to exhaust one end of the cylinder into the reservoir 2 while the other end of the cylinder is supplied with pressure fluid from the accumulator. A pipe 17 from the pump 1 is connected to a cylinder G2 and is provided with a branch 18 and manually‐operated valve 19 whereby the cylinder may be exhausted. The cylinders G2 (Fig. 5) are connected by links to the doors C1, C2 maintained in the closed position by springs r1, r2, the doors C1, C2 being interconnected to open smaller doors D1 (Fig. 1) which remain open when the wheels R are lowered. The levers 25, 20, 7 (Fig. 2) are connected to a single control lever. In Fig. 10, the wheel arm J is pivoted at A and is connected by piston rod P to the cylinder V pivoted at T. A wire 35 connected to the arm J passes over pulleys 36, 37, and is connected to a piston in a horizontal cylinder 41 open to a pneumatic reservoir 9. When the wheel R is raised to the position R1 by the admission of fluid under the piston P, the wire 35 rapidly withdraws the piston in the cylinder 41 to compress the air in the accumulator 9, and since the effect of gravity is not so pronounced between the positions R, R1 as between R1, R2 and the fact that the air pressure on R tends to raise the wheel, the pressure applied to the piston P is mainly stored in the accumulator 9. From the position R to R1 the effect of air pressure is less and gravity greater, so that between these positions the wire 35 is adapted to lap around a pulley 43 on the axis A whereby the movement of the piston in the cylinder 41 is small and less power is stored in the accumulator 9, the pressure on the piston P being primarily expended in raising the wheel from R1 to R2. Similarly when lowering the wheel the accumulator expends the greatest power between R1, R. A device for recovering any leakage from the pump 1 when the reservoir 2 is at a higher level is shown in Fig. 9. A leakage pipe 28 is connected by a housing 29 and pipe 30 to the suction pipe 33, and the housing contains a float 31 with upper and lower needle valves. When the housing 29 is full of liquid, the pipe 28 is closed by the upper needle valve and the liquid in the housing is withdrawn through pipe 30 and when the housing is empty the float falls and closes the pipe 30.

The purpose of this paper is to develop a new conceptual framework that reflects network dynamics in Internet of Things (IoT)-enabled service innovation processes.

Based on literature on service innovations, business networks and IoT, dynamic concepts are selected. Aided by information about an evolving case “The connected vehicle”, propositions about interaction between the variables in the framework are formulated.

A conceptual framework consisting of four interacting variables: overlapping, intermediating, objectification of actors and business modelling is developed, linking several streams of research. Propositions are motivated and issues for further research questions formulated.

The framework may stimulate further research on IoT-enabled service innovations.

Understanding network dynamics for developing and implementing business models for service innovations.

The conceptual framework provides an original contribution to understanding IoT-enabled service innovations.

The purpose of this study is to explore how tourists use connected mobile devices such as smartphones to manage their tourist experience.

A multi-method, cross-sectional approach was used consisting of questionnaires about tourists self-reported use of connected mobile devices and recorded observations of tourists' interaction with their devices.

Respondents who reported a more intense use of their connected mobile devices also reported a heightened tourist experience. Specifically, high users reported more intense emotions and expressed the belief that using their device improved the quality of their vacation. More extensive use of connected mobile devices was also linked to the perception that waits for attractions and restaurants were shorter.

While the data and methods employed do not allow for testing of causality, the field research approach provides the benefit of high ecological validity, complementing previous studies on this topic.

Commercial service providers should explore ways to stimulate the use of devices, for instance by offering information about the attraction, or by providing an attractive setting for tourists taking photos. This contributes to shorter time perception and improved visitor evaluations.

Tourists' use of connected mobile devices to manage their tourist experience varies in terms of quality and intensity. Findings show that travelers know how to use their smartphones in a way that best suit their information and social needs.

This paper aims to examine the association between political connections, political uncertainty and audit fees. The authors use various measures of political connections and uncertainty: political connections (civil and military), political events (elections) and a general measure of political stability (i.e. a world bank index).

The authors measure the association between political connections, political uncertainty and audit fees. Audit fees reflect auditors’ perceptions of risk. The authors examine auditors’ business risk, clients’ audit and business risk after controlling for the variables used in prior audit fee research.

Results indicate that civil-connected firms pay significantly higher audit fees than non-connected firms owing to the instability of civil-political connections. Military-connected firms pay significantly lower audit fees than non-connected firms owing to the stable form of government. Furthermore, considering high leverage as a measure of clients’ high audit risk and high return-on-assets (ROA) as a measure of clients’ lower business risk, the authors interact leverage and ROA with civil and military connections. The results reveal that these risks moderate the relationship between political connection and audit fees. Election risk is independent of risk associated with political connections. General political stability reinforces the theme that a stable government results in lower risks.

The authors combine cross-sectional measures of political uncertainty (civil or military connections) with time-dependent measures (general measures of political instability and elections).