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Open Access
Article
Publication date: 8 July 2022

David Lau, Koji Ota and Norman Wong

The purpose of this study is to investigate whether audit quality is associated with the speed with which managers revise earnings forecasts to arrive at the actual earnings…

1043

Abstract

Purpose

The purpose of this study is to investigate whether audit quality is associated with the speed with which managers revise earnings forecasts to arrive at the actual earnings through the lens of the auditor selection theory. This study examines this relationship in a unique institutional setting, Japan, where nearly all managers disclose earnings forecasts.

Design/methodology/approach

The authors pioneer an empirical proxy to capture the speed of management forecast revisions based on well-established principles from the finance and disclosure literatures. This proxy is tested alongside other disclosure proxies (namely, accuracy, frequency and timeliness) to assess the influence of audit quality on managerial forecasting behavior.

Findings

This empirical analysis shows that forecast revision speed is higher for firms that select higher-quality auditors. While firms that select higher-quality auditors revise forecasts in a more timely fashion, these firms revise less frequently. Moreover, the authors find that the influence of audit quality on forecast revisions is asymmetric. Specifically, the analysis of downward forecast revisions shows that higher-quality auditors are associated with firms that disclose bad news via forecasts revisions faster, more frequently and in a more timely fashion. However, the analysis of upward forecast revisions shows that higher-quality auditors have no effect on the speed with which firms disclose good news via forecast revisions, even though they are associated with less frequent but more timely forecast revisions. These findings have important implications for prior studies that consistently document an asymmetric response of the stock market to good news and bad news.

Originality/value

The authors provide evidence on the relationship between audit quality and management earnings forecasts using a novel and intuitive measure that captures forecast revision speed. This measure speaks to the growing interest in understanding the notion of speed and timing of voluntary disclosures. This study provides a more robust and comprehensive measure of the speed with which managers revise their earnings forecasts to arrive at the actual earnings. Furthermore, this study is among the first to document an asymmetric effect of audit quality on the type of news disclosed in forecast revisions.

Details

Meditari Accountancy Research, vol. 30 no. 7
Type: Research Article
ISSN: 2049-372X

Keywords

Open Access
Article
Publication date: 2 November 2023

FengShou Liu, Guang Yang, Zhaoyang Chen, Yinhua Zhang and Qingyue Zhou

The purpose of this paper is to summarize the status and characteristics of rail technology of high-speed railway in China, and point out the development direction of rail…

Abstract

Purpose

The purpose of this paper is to summarize the status and characteristics of rail technology of high-speed railway in China, and point out the development direction of rail technology of high-speed railway.

Design/methodology/approach

This study reviews the evolution of high-speed rail standards in China, comparing their chemical composition, mechanical attributes and geometric specifications with EN standards. It delves into the status of rail production technology, shifts in key performance indicators and the quality characteristics of rails. The analysis further examines the interplay between wheels and rails, the implementation of grinding technology and the techniques for inspecting rail service conditions. It encapsulates the salient features of rail operation and maintenance within the high-speed railway ecosystem. The paper concludes with an insightful prognosis of high-speed railway technology development in China.

Findings

The rail standards of high-speed railway in China are scientific and advanced, highly operational and in line with international standards. The quality and performance of rail in China have reached the world’s advanced level. The 60N profile guarantees the operation quality of wheel–rail interaction effectively. The rail grinding technology system scientifically guarantees the long-term good service performance of the rail. The rail service state detection technology is scientific and efficient. The rail technology will take “more intelligent” and “higher speed” as the development direction to meet the future needs of high-speed railway in China.

Originality/value

The development direction of rail technology for high-speed railway in China is defined, which will promote the continuous innovation and breakthrough of rail technology.

Details

Railway Sciences, vol. 2 no. 4
Type: Research Article
ISSN: 2755-0907

Keywords

Open Access
Article
Publication date: 13 June 2023

Xiaogen Liu, Shuang Qi, Detian Wan and Dezhi Zheng

This paper aims to analyze the bearing characteristics of the high speed train window glass under aerodynamic load effects.

Abstract

Purpose

This paper aims to analyze the bearing characteristics of the high speed train window glass under aerodynamic load effects.

Design/methodology/approach

In order to obtain the dynamic strain response of passenger compartment window glass during high-speed train crossing the tunnel, taking the passenger compartment window glass of the CRH3 high speed train on Wuhan–Guangzhou High Speed Railway as the research object, this study tests the strain dynamic response and maximum principal stress of the high speed train passing through the tunnel entrance and exit, the tunnel and tunnel groups as well as trains meeting in the tunnel at an average speed of 300 km·h-1.

Findings

The results show that while crossing the tunnel, the passenger compartment window glass of high speed train is subjected to the alternating action of positive and negative air pressures, which shows the typical mechanic characteristics of the alternating fatigue stress of positive-negative transient strain. The maximum principal stress of passenger compartment window glass for high speed train caused by tunnel aerodynamic effects does not exceed 5 MPa, and the maximum value occurs at the corresponding time of crossing the tunnel groups. The high speed train window glass bears medium and low strain rates under the action of tunnel aerodynamic effects, while the maximum strain rate occurs at the meeting moment when the window glass meets the train head approaching from the opposite side in the tunnel. The shear modulus of laminated glass PVB film that makes up high speed train window glass is sensitive to the temperature and action time. The dynamically equivalent thickness and stiffness of the laminated glass and the dynamic bearing capacity of the window glass decrease with the increase of the action time under tunnel aerodynamic pressure. Thus, the influence of the loading action time and fatigue under tunnel aerodynamic effects on the glass strength should be considered in the design for the bearing performance of high speed train window glass.

Originality/value

The research results provide data support for the analysis of mechanical characteristics, damage mechanism, strength design and structural optimization of high speed train glass.

Open Access
Article
Publication date: 3 May 2022

Bo Jiang, Changhai Tian, Jiehang Deng and Zitong Zhu

This study aims to analyze the development direction of train speed, density and weight in China.

1801

Abstract

Purpose

This study aims to analyze the development direction of train speed, density and weight in China.

Design/methodology/approach

The development of China's railway in the past 40 years can be divided into 3 stages. At the stage of potential tapping and capacity expansion, it is important to improve the train weight and density by upgrading the existing lines, and improving transportation capacity rapidly. At the stage of railway speed increase, the first priority is to increase train speed, reduce the travel time of passenger train, and synchronously take into account the increase of train density and weight. At the stage of developing high-speed railway, train speed, density and weight are co-developing on demand.

Findings

The train speed of high-speed railway will be 400 km h−1, the interval time of train tracking will be 3 min, and the traffic density will be more than 190 pairs per day. The running speed of high-speed freight EMU will reach 200 km h−1 and above. The maximum speed of passenger train on mixed passenger and freight railway can reach 200 km h−1. The minimum interval time of train tracking can be compressed to 5 min. The freight train weight of 850 m series arrival-departure track railway can be increased to 4,500–5,000 t and that of 1,050 m series to 5,500–6,400 t. EMU trains should gradually replace ordinary passenger trains to improve the quality of railway passenger service. Small formation trains will operate more in intercity railway, suburban railway and short-distance passenger transportation.

Originality/value

The research can provide new connotations and requirements of railway train speed, density and weight in the new railway stage.

Details

Railway Sciences, vol. 1 no. 1
Type: Research Article
ISSN: 2755-0907

Keywords

Open Access
Article
Publication date: 3 June 2022

Shuanbao Yao, Dawei Chen and Sansan Ding

The nose length is the key design parameter affecting the aerodynamic performance of high-speed maglev train, and the horizontal profile has a significant impact on the…

Abstract

Purpose

The nose length is the key design parameter affecting the aerodynamic performance of high-speed maglev train, and the horizontal profile has a significant impact on the aerodynamic lift of the leading and trailing cars Hence, the study analyzes aerodynamic parameters with multi-objective optimization design.

Design/methodology/approach

The nose of normal temperature and normal conduction high-speed maglev train is divided into streamlined part and equipment cabin according to its geometric characteristics. Then the modified vehicle modeling function (VMF) parameterization method and surface discretization method are adopted for the parametric design of the nose. For the 12 key design parameters extracted, combined with computational fluid dynamics (CFD), support vector machine (SVR) model and multi-objective particle swarm optimization (MPSO) algorithm, the multi-objective aerodynamic optimization design of high-speed maglev train nose and the sensitivity analysis of design parameters are carried out with aerodynamic drag coefficient of the whole vehicle and the aerodynamic lift coefficient of the trailing car as the optimization objectives and the aerodynamic lift coefficient of the leading car as the constraint. The engineering improvement and wind tunnel test verification of the optimized shape are done.

Findings

Results show that the parametric design method can use less design parameters to describe the nose shape of high-speed maglev train. The prediction accuracy of the SVR model with the reduced amount of calculation and improved optimization efficiency meets the design requirements.

Originality/value

Compared with the original shape, the aerodynamic drag coefficient of the whole vehicle is reduced by 19.2%, and the aerodynamic lift coefficients of the leading and trailing cars are reduced by 24.8 and 51.3%, respectively, after adopting the optimized shape modified according to engineering design requirements.

Details

Railway Sciences, vol. 1 no. 2
Type: Research Article
ISSN: 2755-0907

Keywords

Open Access
Article
Publication date: 29 August 2023

Yangsheng Ye, Degou Cai, Qianli Zhang, Shaowei Wei, Hongye Yan and Lin Geng

This method will become a new development trend in subgrade structure design for high speed railways.

Abstract

Purpose

This method will become a new development trend in subgrade structure design for high speed railways.

Design/methodology/approach

This paper summarizes the structural types and design methods of subgrade bed for high speed railways in China, Japan, France, Germany, the United States and other countries based on the study and analysis of existing literature and combined with the research results and practices of high speed railway subgrade engineering at home and abroad.

Findings

It is found that in foreign countries, the layered reinforced structure is generally adopted for the subgrade bed of high speed railways, and the unified double-layer or multi-layer structure is adopted for the surface layer of subgrade bed, while the simple structure is adopted in China; in foreign countries, different inspection parameters are adopted to evaluate the compaction state of fillers according to their respective understanding and practice, while in China, compaction coefficient, subsoil coefficient and dynamic deformation modulus are adopted for such evaluation; in foreign countries, the subgrade top deformation control method, the subgrade bottom deformation control method, the subsurface fill strength control method are mainly adopted in subgrade bed structure design of high speed railways, while in China, dynamic deformation control of subgrade surface and dynamic strain control of subgrade bed bottom layer is adopted in the design. However, the cumulative deformation of subgrade caused by train cyclic vibration load is not considered in the existing design methods.

Originality/value

This paper introduces a new subgrade structure design method based on whole-process dynamics analysis that meets subgrade functional requirements and is established on the basis of the existing research at home and abroad on prediction methods for cumulative deformation of subgrade soil.

Details

Railway Sciences, vol. 2 no. 3
Type: Research Article
ISSN: 2755-0907

Keywords

Open Access
Article
Publication date: 7 December 2020

Jing Wang, Yinghan Wang, Yichuan Peng and Jian John Lu

The operation safety of the high-speed railway has been widely concerned. Due to the joint influence of the environment, equipment, personnel and other factors, accidents are…

Abstract

Purpose

The operation safety of the high-speed railway has been widely concerned. Due to the joint influence of the environment, equipment, personnel and other factors, accidents are inevitable in the operation process. However, few studies focused on identifying contributing factors affecting the severity of high-speed railway accidents because of the difficulty in obtaining field data. This study aims to investigate the impact factors affecting the severity of the general high-speed railway.

Design/methodology/approach

A total of 14 potential factors were examined from 475 data. The severity level is categorized into four levels by delay time and the number of subsequent trains that are affected by the accident. The partial proportional odds model was constructed to relax the constraint of the parallel line assumption.

Findings

The results show that 10 factors are found to significantly affect accident severity. Moreover, the factors including automation train protection (ATP) system fault, platform screen door and train door fault, traction converter fault and railway clearance intrusion by objects have an effect on reducing the severity level. On the contrary, the accidents caused by objects hanging on the catenary, pantograph fault, passenger misconducting or sudden illness, personnel intrusion of railway clearance, driving on heavy rain or snow and train collision against objects tend to be more severe.

Originality/value

The research results are very useful for mitigating the consequences of high-speed rail accidents.

Details

Smart and Resilient Transportation, vol. 3 no. 1
Type: Research Article
ISSN: 2632-0487

Keywords

Open Access
Article
Publication date: 7 April 2021

Leyi Cheng, Yinghan Wang and Yichuan Peng

The causes of high-speed railway failures are complex, and it is difficult to quantitatively and accurately describe safety evaluation. The purpose of this paper is to construct a…

1651

Abstract

Purpose

The causes of high-speed railway failures are complex, and it is difficult to quantitatively and accurately describe safety evaluation. The purpose of this paper is to construct a model to ensure the safety of high-speed railway operations.

Design/methodology/approach

The authors construct a high-speed railway operation safety evaluation index system from four aspects: personnel, equipment, environment and management and analyze the inter-coupling relationship of various safety factors. Based on the evaluation index system, the use of network analytic hierarchy process (ANP) and fuzzy comprehensive evaluation will be used to establish a high-speed railway operation safety evaluation model.

Findings

Through the literature investigation and field investigation, combined with high-speed railway safety key points and system composition, 4 first-level indicators and 17 second-level indicators were selected to construct a high-speed railway operation safety evaluation index system. It can be seen from the results that the personnel management system and the signal and control system have the largest weight.

Originality/value

On the basis of establishing an evaluation index system, comprehensively considering the internal coupling relationship between evaluation indexes and the fuzziness of high-speed railway operation safety evaluation, high-speed railway uses ANP fuzzy network analysis method to construct high-speed railway operation, and the safety evaluation model has certain advantages and practicability in the case of the relative lack of high-speed railway operation data and fault data.

Details

Smart and Resilient Transportation, vol. 3 no. 1
Type: Research Article
ISSN: 2632-0487

Keywords

Open Access
Article
Publication date: 17 May 2022

Chongyi Chang, Yuanwu Cai, Bo Chen, Qiuze Li and Pengfei Lin

In service, the periodic clashes of wheel flat against the rail result in large wheel/rail impact force and high-frequency vibration, leading to severe damage on the wheelset…

Abstract

Purpose

In service, the periodic clashes of wheel flat against the rail result in large wheel/rail impact force and high-frequency vibration, leading to severe damage on the wheelset, rail and track structure. This study aims to analyze characteristics and dynamic impact law of wheel and rail caused by wheel flat of high-speed trains.

Design/methodology/approach

A full-scale high-speed wheel/rail interface test rig was used for the test of the dynamic impact of wheel/rail caused by wheel flat of high-speed train. With wheel flats of different lengths, widths and depths manually set around the rolling circle of the wheel tread, and wheel/rail dynamic impact tests to the flats in the speed range of 0–400 km/h on the rig were conducted.

Findings

As the speed goes up, the flat induced the maximum of the wheel/rail dynamic impact force increases rapidly before it reaches its limit at the speed of around 35 km/h. It then goes down gradually as the speed continues to grow. The impact of flat wheel on rail leads to 100–500 Hz middle-frequency vibration, and around 2,000 Hz and 6,000 Hz high-frequency vibration. In case of any wheel flat found during operation, the train speed shall be controlled according to the status of the flat and avoid the running speed of 20 km/h–80 km/h as much as possible.

Originality/value

The research can provide a new method to obtain the dynamic impact of wheel/rail caused by wheel flat by a full-scale high-speed wheel/rail interface test rig. The relations among the flat size, the running speed and the dynamic impact are hopefully of reference to the building of speed limits for HSR wheel flat of different degrees.

Details

Railway Sciences, vol. 1 no. 1
Type: Research Article
ISSN: 2755-0907

Keywords

Open Access
Article
Publication date: 30 June 2021

Qingyu Qi and Oh Kyoung Kwon

This study explores the characteristics of high-speed rail (HSR) and air transportation networks in China based on the weighted complex network approach. Previous related studies…

Abstract

This study explores the characteristics of high-speed rail (HSR) and air transportation networks in China based on the weighted complex network approach. Previous related studies have largely implemented unweighted (binary) network analysis, or have constructed a weighted network, limited by unweighted centrality measures. This study applies weighted centrality measures (mean association [MA], triangle betweenness centrality [TBC], and weighted harmonic centrality [WHC]) to represent traffic dynamics in HSR and air transportation weighted networks, where nodes represent cities and links represent passenger traffic. The spatial distribution of centrality results is visualized by using ArcGIS 10.2. Moreover, we analyze the network robustness of HSR, air transportation, and multimodal networks by measuring weighted efficiency (WE) subjected to the highest weighted centrality node attacks. In the HSR network, centrality results show that cities with a higher MA are concentrated in the Yangtze River Delta and the Pearl River Delta; cities with a higher TBC are mostly provincial capitals or regional centers; and cities with a higher WHC are grouped in eastern and central regions. Furthermore, spatial differentiation of centrality results is found between HSR and air transportation networks. There is a little bit of difference in eastern cities; cities in the central region have complementary roles in HSR and air transportation networks, but air transport is still dominant in western cities. The robustness analysis results show that the multimodal network, which includes both airports and high-speed rail stations, has the best connectivity and shows robustness.

Details

Journal of International Logistics and Trade, vol. 19 no. 2
Type: Research Article
ISSN: 1738-2122

Keywords

1 – 10 of over 7000