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From the perspective of local government tax administration, the impact of geographic dispersion on the corporate tax burden is investigated in this paper.

Using unbalanced panel data with a sample of listed companies from 2003 to 2020 in China, this paper focuses on the effect of geographic dispersion on corporate tax burden and the mechanisms.

It is found that corporate tax burden is positively related to geographic dispersion. It is also found that geographic dispersion affects the corporate tax burden by increasing the effort of local government tax administration. In addition, the relation between geographic dispersion and corporate tax burden is more pronounced for local SOEs prior to the implementation of Golden Tax Project III and in cases where local governments face stronger financial pressure to obtain revenue.

This study has important implications for the promotion of the coordinated development of the regional economy, as well as the legalization, modernization and informatization of tax administration.

This study aims to examine the effects of product market competition (PMC) on analysts’ earnings forecast attributes, particularly forecast accuracy and dispersion. The authors also investigate whether investor protection moderates the relationship between PMC and forecast attributes.

The sample covers 49,578 firm-year observations from 38 countries. This study uses an ordinary least squares regression, a Heckman two-stage regression and an instrumental two-stage least squares regression.

This study finds that PMC is associated with higher forecast accuracy and lower dispersion. The results also show that investor protection enhances the effect of PMC on forecast accuracy and dispersion. These findings imply that countries with strong investor protection have a better information environment, as exhibited by the stronger relationship between PMC and analysts’ forecast properties.

The findings highlight the importance of strong governance mechanisms in both the country and industry environments. Policymakers, including government agencies and financial regulators, can leverage these insights to formulate regulations that promote competition, ensure investor protection and facilitate informed investment decisions.

This study advances our understanding of how PMC affects analysts’ earnings forecast attributes. In addition, it pioneers evidence of the moderating role of investor protection in the relationship between PMC and forecast attributes.

The purpose of this paper is to synthesize a polyacrylate-based dispersant with a determined target molecular weight for oily systems and to determine the optimal dispersant level and monomer ratio of the dispersant.

The dispersant was synthesized by conventional radical polymerization using methacrylic acid, butyl acrylate and dimethylamino ethyl methacrylate as the monomer. It was characterized by Fourier transform infrared spectroscopy, nuclear magnetic hydrogen spectroscopy, gel permeation chromatography and thermogravimetric analysis. The dispersant was used to disperse TiO₂, and the performance of the dispersant was evaluated by measuring the viscosity, particle size and dispersive force of the slurry.

The dispersant exhibited high thermal stability and was successfully anchored to the surface of the TiO₂ pigment. When used to disperse a TiO₂ slurry, it effectively made the TiO₂ slurry more fluid, indicating its strong viscosity-reducing properties. The viscosity, particle sizes and dispersion capabilities of the TiO₂ slurry were found to vary depending on the contents and monomer ratios of the dispersant.

P(MAA-BA-DM) dispersant increases the wettability of TiO₂ only in oily solvents but not in aqueous solvents.

P(MAA-BA-DM) dispersant makes it easier to disperse TiO₂ pigments in oily solvents, increasing the amount of pigment in the solvent and making the preparation of highly pigmented pastes easier.

A dispersant containing suitable carboxyl and tertiary amine groups was initially synthesized to disperse TiO₂ in an oily system. The findings are anticipated to be used in the formulation of pigment concentrates, industrial coatings and other solvent-based coatings.

This work aims to focuse on improving the performance of the new exponentially weighted moving average (NEWMA) scheme for monitoring process dispersion. The authors use the generalized time-varying fast initial response (GFIR) to further enhance the detection ability of variability NEWMA control charts at the process startup. The performance of the proposed chart and other schemes discussed in this article are evaluated; and compared using the average run length (ARL) and standard deviation run length (SDRL) measures. It is observed that the ARL of the proposed scheme is quicker in detecting small and moderate shifts in the process dispersion than its counterparts. The real-life application of the proposed scheme is presented.

The dynamic parameter of GFIR is used to enhance the detection ability of variability NEWMA control charts. The authors apply GFIR to the control limit of variability NEWMA scheme. This further narrows the control limit, hence enabling it to swiftly detect small and moderate changes in process dispersion.

The authors present the performance comparisons by examining the ARL properties of the proposed chart and its counterparts. The performance comparison shows that the proposed chart is highly sensitive in detecting small and intermediate process shifts. The real-life application presented also supports the study’s conclusion from the simulation studies. The performance comparison of the proposed chart and its counterparts shows that the proposed scheme is efficient in detecting process abnormalities, especially at the startup.

In terms of the control limits, the proposed chart is the generalized variability NEWMA control chart in which all the previously proposed NEWMA variant schemes can be obtained. Also, the newly proposed control scheme is more efficient in detecting small or moderate persistent shifts in the process dispersion.

Titanium(IV) oxide nanoparticles (TiO₂ NP) were deposited to cotton denim fabrics using a self-crosslinking acrylate – a polymer dispersion to extend the lifetime of the products. This study aims to determine the optimum conditions to increase abrasion resistance, to provide self-cleaning properties of denim fabrics and to examine the effects of these applications on other physical properties.

The denim samples were first treated with nonionic surfactant to increase their wettability. Three different amounts of the polymer dispersion and two different pH levels were selected for the experimental design. The finishing process was applied to the fabrics with pad-dry-cure method.

The presence of the coatings and the adhesion of TiO₂ NPs to the surfaces were confirmed by scanning electron microscope and Fourier transform infrared spectroscopy analysis. It was ascertained that the most appropriate self-crosslinking acrylate amount and ambient pH level is 10 mL and “2”, respectively, for providing increased abrasion resistance (2,78%) and enhanced self-cleaning properties (363,4%) in the denim samples. The coating reduced the air permeability and softness of the denim samples. Differential scanning calorimetry and thermogravimetry analysis results showed that the treatments increased the crystallization temperatures and melting enthalpy values of the denim samples. Based on the thermal test results, it is clear that mass loss of the denim samples at 370°C decreased as the amount of self-crosslinking acrylate increased (at pH 3).

This study helped us to find out optimum amount of self-crosslinking acrylate and proper pH level for enhanced self-cleaning and abrasion strength on denim fabrics. With this finishing process, an environmentally friendly and long-life denim fabric was designed.

Both the SEC (Securities and Exchange Commission) and the popular press have routinely criticized firms for the complexity of their financial disclosures. This study aims to investigate how financial analysts respond to the tone complexity of firm disclosures.

Using approximately 20,000 earnings conference call transcripts of S&P 1,500 firms between 2005 and 2015, the authors first calculate the abnormal negative tone, the measure of tone complexity; then use such tone measure in econometric models to examine analyst forecast behavior. The authors also test the robustness of the results under different model specifications, tone word lists and alternative tone measure calculations.

Consistent with the notion that analysts respond to the information demand from investors and incur more costs and effort to analyze firm disclosure when the tone is more complex, the authors find that higher tone complexity is positively and significantly associated with more analyst following, longer report duration, more forecast revisions, larger forecast error and larger forecast dispersion. In addition, the authors find that tone complexity has a long-term impact on analyst following but has a limited long-term impact on analyst report duration, analyst revision, forecast error and dispersion.

This study complements existing literature by highlighting the information role of financial analysts and by providing evidence that analysts incorporate the management tone disclosed during conference calls to adjust their forecasting behaviors. The results can be used by policymakers as evidence and support for further improving firm communication from a new dimension of disclosure tone.

This study aims to perform the surface treatment of synthetic α-Fe₂O₃ red iron oxide pigment with hydrolysate 3-aminopropyl silane (A) and colloidal silica (CS) and investigate the effects of surface-treated pigment on the styrene acrylic (SA) emulsion and polyurethane (PU) dispersion.

For this purpose, firstly red iron oxide particles were modified with A and CS separately in an aqueous medium. After isolation of the modified iron oxide were characterized by Fourier transform infrared spectroscopy (FTIR), X-ray photoelectron spectroscopy (XPS) and scanning electron microscopy with energy dispersive spectroscopy (SEM-EDS). Moreover, the degree of the dispersion stability of the modified pigment in coatings with SA emulsion and PU dispersion was investigated by using an oscillation rheometer. Loss (G''), storage (G') modulus, loss factor [tan(δ)] and yield stress (τ⁰) values were determined by performing amplitude and frequency sweep tests.

The τ⁰ in SA coatings decreases with the amount of used A and increases with the amount of used CS. The τ⁰ decreases as the amount of used A and CS in PU coatings increases. The use of CS on red iron oxide pigments causes storage modulus to increase in SA coatings at low angular frequencies, while it causes a decrease in PU coatings.

To the best of the authors’ knowledge, for the first time, the suspended state of the iron oxide hybrid pigment formed with CS in the coating was investigated rheologically in this study.

This paper aims to solve the problems molybdenum disulfide (MoS₂) nanosheets suffer from inadequate dispersion stability and form a weak lubricating film on the friction surface, which severely limits their application as lubricant additives.

MoS₂/C₆₀ nanocomposites were prepared by synthesizing molybdenum disulfide (MoS₂) nanosheets on the surface of hydrochloric acid-activated fullerenes (C₆₀) by in situ hydrothermal method. The composition, structure and morphology of MoS₂/C₆₀ nanocomposites were characterized. Through the high-frequency reciprocating tribology test, its potential as a lubricant additive was evaluated.

MoS₂/C₆₀ nanocomposites that were prepared showed good dispersion in dioctyl sebacate (DOS). When 0.5 Wt.% MoS₂/C₆₀ was added, the friction reduction performance and wear resistance improved by 54.5% and 62.7%, respectively.

MoS₂/C₆₀ composite nanoparticles were prepared by in-situ formation of MoS₂ nanosheets on the surface of C₆₀ activated by HCl through hydrothermal method and were used as potential lubricating oil additives.

The peer review history for this article is available at: https://publons.com/publon/10.1108/ILT-10-2023-0321/

This paper aims to examine the conditions under which small and medium enterprises (SMEs) invest in security services when they migrate their e-commerce applications to the cloud environment. Using a risk management perspective, the paper assesses the impact of security service pricing, security incident prevalence and virulence to estimate SME security spending at the market level and draw out implications for SMEs and security service providers.

Security risks are inherently characterized by uncertainty. This study uses a Monte Carlo approach to understand the role of uncertainty in the decision to adopt security services. A model relating key security constructs is assembled based on key constructs from the domain. By manipulating security service costs and security incident types, the model estimates the market-level adoption of services, security incidents and damages incurred, along with measures of their relative dispersion.

Three key findings emerge from this study. First, adoption of services and protection is higher when tiered security services are provided, indicating that SMEs prefer to choose their security services rather than accept uniformly priced products. Second, SMEs are considered price-sensitive, resulting in a maximum level of spending in the market. Third, results indicate that security incidents and damages can be much higher than the mean in some cases, and this should serve as a cautionary note to SMEs.

Security spending has been modeled at the firm level. Adopting a market-level perspective represents a novel contribution. Additionally, the Monte Carlo approach provides managers with tangible measures of uncertainty, affording additional information and insight when making security service adoption decisions.

In this study, the authors investigate if analysts, as knowledgeable information intermediaries, can correctly identify bank corporate social responsibility (CSR) activities and can reliably transmit that information to investors. Hence, the authors specifically explore if analysts perceive and behave differentially in the presence of genuine bank CSR activities (strengths). The authors also analyze if financial markets differentially assess bank CSR strengths. The authors further explore the viability of focusing on analyst and financial markets to validate genuine bank CSR strengths.

The authors use COMPUSTAT and CRSP for firm and financial data, I/B/E/S for analyst reporting data and MCSI Research KLD for CSR data. The sample consists of 329 distinct banks and 2,525 bank-year observations from 2003 to 2016. The primary CSR score is the total number of CSR strengths less the total number of CSR concerns, across six of the seven dimensions for each firm in each year of the sample (Adjusted CSR Score). In addition, the authors estimate all the analyses with dis-aggregated measures of total CSR strengths and total CSR concerns (Adjusted Total Strength Score).

The authors find that analysts correctly distinguish and construe bank CSR strengths from CSR concerns. Specifically, bank CSR strengths increase analyst following and forecast accuracy, while decreasing analyst forecast dispersion. The authors further find that bank CSR strengths increase bank market returns. These results are reversed for bank CSR concerns. Additionally, the authors demonstrate that this method using knowledgeable intermediaries can help validate bank CSR strengths.

The sample is limited to US banks and financial markets. The regulatory and information environment is likely to be different from global or emerging markets. However, since banks in many countries aspire to emulate the US banks, these results would be a precursor of banking sectors conditions in emerging markets. Additionally, the availability of data limits the sample to a period that ends in 2016. To the extent that the importance of ESG and CSR concerns has increased in the intervening time, the results may not accurately reflect the current state of the market.

This investigation benefits researchers, customers, banking executives, regulators and activist groups. First, the authors show that in addition to customers, analysts and the financial markets appreciate bank CSR strengths. Second, despite sophisticated financial reporting by banks, analysts correctly distinguish and construe bank CSR strengths. Third, the authors demonstrate a method for bank marketing researchers to validate genuine bank CSR activity, as well as provide additional support for customer related bank CSR outcomes. Fourth, the findings highlight the importance for banks to have high-quality CSR reporting. This might be especially helpful to a bank rebuilding its reputation after a CSR failure. Finally, this investigation using US banks could serve as a precursor for future bank CSR research and help develop CSR reporting guidelines for banks in emerging economies.

This investigation benefits researchers, customers, banking executives, regulators and activist groups.

This investigation benefits researchers, customers, banking executives, regulators and activist groups. First, the authors show that in addition to customers, analysts and the financial market appreciates bank CSR strengths. Second, despite sophisticated financial reporting by banks, analysts correctly distinguish and construe bank CSR strengths. Third, the authors demonstrate a method for bank marketing researchers to validate genuine bank CSR activity, as well as provide additional support for customer related bank CSR outcomes. Fourth, the findings highlight the importance for banks to have high-quality CSR reporting. This might be especially helpful to a bank rebuilding its reputation after a CSR failure. Finally, this investigation using US banks could serve as a precursor for future bank CSR research and help develop CSR reporting guidelines for banks in emerging economies.