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This study investigates the impact of the enhanced continuous disclosure regime introduced in December 2002 on several measures of information risk in NZX‐listed stocks. We employ two microstructure models and an intraday data set to measure information risk in a sample of 71 stocks. Our empirical results show that the reforms enacted in December 2002 had no significant effect on either the level of information‐based trading or the adverse selection component of market spreads in our sample of NZX‐listed stocks.

THERE are now so many meetings of the Library Association and its branches and sections that the good custom of recording meetings and the discussions at them has fallen into desuetude. In a way it is a gain, for when the discussion was commonplace the account of a meeting became a mere list of those who attended and spoke, bones without flesh; but in the days when The Library Association Record really was a record, its reports were a part of the educational and informational material of every librarian. Something should be done about this, because 1938 opened with a series of meetings which all deserved the fullest report. The principal one was the investiture meeting of the President of the Library Association on January 17th. The attendance was greater than that at any meeting of librarians in recent years, of course other than the Annual Conference. Chaucer House was beautifully arranged, decorated and lighted for the occasion, an atmosphere of cheerfulness and camaraderie pervaded the affair. The speeches were limited to a few preliminary words by the retiring President, the Archbishop of York, before placing the badge on his successor's neck; a brief, but deserved panegyric of Dr. Temple's services by Mr. Berwick Sayers; and then a delightful acknowledgment from His Grace. The serious point the Archbishop made was his surprise at learning the wide extent of the library movement and his conviction that it must be of great value to the community. His lighter touch was exquisite; especially his story of the ceremonial key, which broke in the lock and jammed it when he was opening a library in state, and of his pause to settle mentally the ethical point as to whether he could conscientiously declare he had “opened” a place when he had made it impossible for anyone to get in until a carpenter had been fetched. Altogether a memorable evening, which proved, too, as a guest rightly said, that one cannot easily entertain librarians, but, if you get them together in comfortable conditions, they entertain themselves right well.

VINE is produced at least four times a year with the object of providing up‐to‐date news of work being done in the automation of library housekeeping processes, principally in the UK. It is edited and substantially written by the Information Officer for ctdirary Automation bused in Southampton University Library and supported by a grant from the British Library Research and Development Department. Copyright for VINE articles rests with the British Library‐Boards but Opinions expressed in VINE do not necessarily reflect the views and policies of the British Library. The subscription for 1983 for VINE is £22 for UK subscribers and £25 for overseas subscribers. The first copy will be charged at normal rate, but all others will be supplied for only £12 per year UK and £14 per year overseas. VINE is available in either paper copy or microfiche and all back issues are available on microfiche.

This paper explores the impact of China’s growing prominence in global and regional foreign direct investment (FDI) fl ows on the Southeast Asian countries as investment locations. Providing internal social and economic cohesion is maintained, China is likely to exert a greater pull on regional FDI after WTO accession. To benefit from China’s success, the Southeast Asian countries will need to replace deteriorating individual locational advantages relative to China with a superior regional one. The ASEAN Free Trade Agreement or the Asian Investment Area or both are likely to be important policy solutions.

The objective of this research work is to study the artificial intelligence (AI)-based product benefits and problems of the agritech industry. The research variables were developed from the existing review of literature connecting to AI-based benefits and problems, and 90 samples of primary data from agritech industry managers were gathered using a survey of a well-structured research questionnaire. The statistical package of IBM-SPSS 21 was utilized to analyze the data using the statistical techniques of descriptive and inferential statistical analysis. Results show that better information for faster decision-making has been ranked as the topmost AI benefit. This implies that the executives of agritech units have a concern about the quality of decisions they make and resistance to change from employees and internal culture has been ranked as the topmost AI problem.

This paper aims to analyze the spatiotemporal heterogeneity of regional total factor productivity (TFP) growth and explores how haze pollution and different levels of new-type urbanization affect China’s economic growth.

This paper constructs an index for evaluating the TFP growth of China’s 31 provinces by integrating slack-based measures and the Global Malmquist (GM) productivity index. Meanwhile, the panel threshold estimation method is used to examine the complex relationships among haze pollution, new-type urbanization and TFP growth.

The results reflect conspicuous spatiotemporal heterogeneity in TFP growth in China. Interestingly, the influence of haze pollution on TFP growth is limited by the “critical mass” of new-type urbanization in China. When new-type urbanization does not cross the first threshold, haze pollution has a negative but non-significant effect on TFP growth. When new-type urbanization crosses the first threshold but not the second, haze pollution has a significant positive impact on TFP growth. When new-type urbanization crosses the second threshold, haze pollution significantly and positively affects TFP growth with the strongest positive effect.

This study innovates by combining haze pollution and TFP growth and proposing an integrated framework from the perspective of new-type urbanization, providing insight into how different degrees of new-type urbanization impact the mechanism between haze pollution and TFP growth. Using panel data in China and emphasizing green development, a sustainable economy and new-type urbanization, this study contributes to the current studies on haze pollution and economic development based on developed countries.

The endpoint and hallmark of the success of intercultural teaching is often seen as the attainment of intercultural competence. Yet, there is a need for a detailed examination of some of the enduring personal and professional identity and culture aspects of cross-cultural teaching. In this chapter, I deliberate over the application of narrative inquiry tools for unpacking teachers' experiences of immersion in a foreign country and culture of schooling. I reflect on my own experiences as a teacher in Japan and draw on an inquiry into the experiences of novice Canadian teachers in Hong Kong or Japan to shed light on fluid conceptions of culture shock and reverse culture shock in terms of cultural identity transformations. I also raise to the forefront inquiry puzzles about the phenomenon of intercultural competence acquisition.

This study mainly explores how ESG performance (ESG stands for Environment, Social, and Governance) affects corporate downside risk through innovation input and innovation output, thereby promoting sustainable development of enterprises.

Using Chinese A-share listed companies from 2014 to 2022 as research samples, a stepwise regression method is used to empirically test the impact of ESG performance on corporate innovation and downside risk by constructing multiple multivariate primary regression models.

ESG performance is beneficial for obtaining external resources and alleviating principal-agent problems. It can promote enterprises to increase innovation input and improve innovation output, thereby enhancing their core competitiveness, and suppressing their downside risk. This inhibitory effect is more significant in non-state-owned enterprises, non-high-tech enterprises, and enterprises where the chairman and the general manager are not combined in one. Further additional analysis has found that equity concentration weakens the inhibitory effect of ESG performance on corporate downside risk, equity balance strengthens the inhibitory effect of ESG performance on corporate downside risk, indicating that a mutually restrictive equity structure is conducive to promoting enterprises to actively fulfill ESG responsibility, thereby improving corporate innovation level and resolving their downside risk.

Enterprise managers, policy makers, and other practitioners can clearly see the benefits of implementing ESG measures, further strengthen their confidence in sustainable development, actively apply ESG concepts to the entire production and operation process of enterprises, increase attention and implementation of ESG elements, and promote the healthy and vigorous development of enterprises and macroeconomics.

The research conclusions reveal the inherent mechanism by which ESG performance empowers enterprises to improve their innovation level and reverse their performance decline, effectively expanding the theoretical achievements of ESG performance in enterprise innovation and risk management.

Previous research and logic indicate that capital markets generally value spending for advertising and promotion; however, empirical results from these studies are far from consistent. While most studies find a positive relationship between a firm's advertising spending and its market value (Hirschey, 1985; Jose, Nichols and Stevens, 1986; Lustgarten and Thomadakis, 1987;Morck, Shleifer and Vishny, 1988; and Morck and Yeung, 1991), others find a negative relationship when control variables are added to the empirical model (Erickson and Jacobson, 1992). Differences in model specification may explain these conflicting results. Previous studies have included a variety of control variables such as return on investment, market share, research and development (R&D) spending, and book value (Erickson and Jacobson, 1992; Chauvin and Hirschey, 1993; Hirschey, 1982) when testing the relationship between promotional expenses and market value. Different firm characteristics (e.g. sales, total assets, book value of equity and price) have been selected as scalers for empirical measures of both the dependent and independent variables. Although these studies investigated an essentially identical theoretical relationship, variation in model specifications renders interpretations different.

Feature selection is an important step for data pre-processing specially in the case of high dimensional data set. Performance of the data model is reduced if the model is trained with high dimensional data set, and it results in poor classification accuracy. Therefore, before training the model an important step to apply is the feature selection on the dataset to improve the performance and classification accuracy.

A novel optimization approach that hybridizes binary particle swarm optimization (BPSO) and differential evolution (DE) for fine tuning of SVM classifier is presented. The name of the implemented classifier is given as DEPSOSVM.

This approach is evaluated using 20 UCI benchmark text data classification data set. Further, the performance of the proposed technique is also evaluated on UCI benchmark image data set of cancer images. From the results, it can be observed that the proposed DEPSOSVM techniques have significant improvement in performance over other algorithms in the literature for feature selection. The proposed technique shows better classification accuracy as well.

The proposed approach is different from the previous work, as in all the previous work DE/(rand/1) mutation strategy is used whereas in this study DE/(rand/2) is used and the mutation strategy with BPSO is updated. Another difference is on the crossover approach in our case as we have used a novel approach of comparing best particle with sigmoid function. The core contribution of this paper is to hybridize DE with BPSO combined with SVM classifier (DEPSOSVM) to handle the feature selection problems.