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The purpose of this paper is to examine the relationship between accounting conservatism, corporate governance and political connection in listed firms in Malaysia where political influence plays a significant role in the capital market and in many business dealings.

By utilizing 824 firm-year observations comprising large listed companies over a period of four years from 2004, this study uses ordinary least squares regression models to investigate the relationship between accounting conservatism, corporate governance and political connections in Malaysia. Multiple measures of conservatism developed by Basu (1997) and Khan and Watts (2009) are employed.

The results show evidence of accounting conservatism (bad news being recognized earlier than good news) in Malaysia. Further, the results reveal that better corporate governance structure in terms of board independence is positively associated with accounting conservatism while management ownership is negatively associated with it. However, political connection has a negative moderating effect on the positive relationship between accounting conservatism and board independence. The results also suggest political connections have a positive association with firm’s future performance.

This study is the first in investigating the effect of political connections on accounting conservatism in Malaysian context and how political connections negatively affect the monitoring role of the corporate boards. By directly measuring political connection and controlling for various corporate governance mechanisms and firm-specific attributes, this study contributes to enhance the authors’ understanding of the political influence in financial reporting quality and firm performance in an emerging market setting.

The results of this study have significant policy implications for charting a new course toward enhancing agricultural productivity among Chinese farmers.

By establishing a rural household decision-making model based on the transfer market of farmland operation rights, this paper systematically analyzes the effects of land transfer-in and land transfer-out on the productivity (per labor income) of rural households. The authors conducted basic regression analysis and robustness tests using propensity score-matching and proxy variable approaches based on the micro survey data from rural households in 30 counties in 21 provinces/municipalities/autonomous regions in 2013.

After the completion of land transfer, the total productivity of rural households transferring in lands will increase with an increase in the agricultural productivity; the total productivity of rural households transferring out land will increase due to a rise in non-agricultural productivity and the absolute total productivity of rural households not involved in land transfer will remain unchanged.

Unlike previous literature, this paper discusses the impacts of land transfer-in and transfer-out on total productivity, agricultural productivity and non-agricultural productivity among various rural households (i.e. those transferring in land, transferring out land or which are self-sufficient).

This paper aims to examine the voluntary disclosure practices of family and non-family listed firms and whether family firms have improved their disclosure practices following the introduction of the Principles of Good Corporate Governance and Best Practice Recommendations in 2003 in Australia.

Voluntary disclosures are measured by constructing an index specifically for this study. Such indexes consist of corporate governance disclosure, strategic disclosure and future disclosures. They are then regressed on firm-specific variables while controlling for family and non-family firms. A total of 60 family firms and 60 non-family firms in Australia are randomly chosen from 2001 to 2006 for examining their disclosure practices.

The research findings show that family firms disclose information voluntarily to signal to the market regarding their growth potentials and abide by government regulations to improve their reputation. Despite the fact that compliance with the Principles of Good Corporate Governance and Best Practice Recommendations was not compulsory, this paper finds that the recommendation encouraged family and non-family firms to disclose more corporate governance information.

The findings from this research will help investors and regulators make more strategic decisions on investments and regulations respectively in family firms.

There has been limited empirical evidence on the disclosure practices and their determinants of family firms in Australia. The study will thus significantly contribute to the current knowledge in this regard.

Purpose: This chapter revisits digital financial inclusion as an international development agenda and discusses everything you need to know about digital financial inclusion.

Methodology: This chapter uses conceptual discourse methodology to explain digital financial inclusion.

Findings: This chapter identifies the definitions of digital financial inclusion, the goal of digital financial inclusion, the components of digital financial inclusion, the types of providers of digital financial services, the instruments for digital financial inclusion, the benefits of digital financial inclusion, the risks of digital financial inclusion, and the regulatory issues associated with digital financial inclusion. It also proposes suggestions on how to make digital financial inclusion work for the good of all. This chapter concludes by offering some implications for policymaking and practice in the digital finance ecosystem.

Optimal ordering decision for a retailer in a dual-sourcing procurement is an important research area. The main purpose of this paper is to explore a loss-averse retailer’s ordering decision in a dual-sourcing problem.

For a loss-averse retailer, the study obtains the optimal ordering decision to maximize expected utility. Based on sensitivity analysis, the properties of the optimal ordering decision are well discussed.

Under the optimal ordering quantity that maximizes expected loss aversion utility, the relevant expected profit of a retailer turns to be smaller under a bigger loss aversion coefficient. For this point, a retailer needs to balance between expected loss aversion utility maximization and expected profit maximization in deciding the optimal ordering policy in a dual-sourcing problem.

This paper reveals the influence of loss aversion on a retailer’s ordering decision in a dual-sourcing problem. Managerial insights are suggested to devise the optimal ordering policy for retailers in practice.

Purpose: This study investigates how couple similarity in various aspects affects their life satisfaction and how these impacts vary across educational groups among the young married couples in Shanghai.

Methodology: This study employs the pooled data from three waves of the Fudan Yangtze River Delta Social Transformation Survey which sampled Shanghai youths born between 1980 and 1989, the first single-child generation. Couple similarity is evaluated through the comparison in age, hukou status, education, and income quartile between the husband and wife. Ordered logistic regression model is applied to assess the impacts of couple similarity on life satisfaction.

Findings: Marriage hypergamy in age, education, and income barely have any impacts on couples’ life satisfaction, while hukou comparison, as an important indication of social stratification in Shanghai, is strongly associated with life satisfaction. The couple in which husband holds the urban hukou and wife rural hukou as well as the couple in which both partners hold the urban hukou are significantly happier than those in which both partners hold the rural hukou. Such a positive impact is partially explained by the higher husband’s decision-making power in male-advantaged families. Moreover, husband’s urban hukou status is especially important for those without college education, but not for those with college education.

Values: This chapter highlights the importance of hukou hypergamy in life satisfaction for married couples, in particular, lower-educated couples in Shanghai. These findings reveal an implicit but persistent preference for male-dominated family model, where husbands retain a higher decision-making power that, in turn, promotes life satisfaction for both partners.

Attitudes and beliefs towards marriage and family held by Chinese and American college students were compared in this study. The primary dimensions included whether to marry, age to marry, number of desired children, age to have children, perceptions of divorce, willingness to cohabit, openness to blended marriages, and gender roles within marriage. If a global convergence of cultures is occurring, then similarities should be found throughout the views of all respondents towards the institution of marriage. Dissimilarities in views could be interpreted as evidence of the entrenchment and uniqueness of culture, an outcome advanced by those who question cultural homogenisation. Hundreds of college students in several large universities in China and one regional university in the United States were surveyed at convenience. The Chinese students were found to prefer marrying and to plan having children a year later in age compared to the Americans. They also desired having nearly one fewer total number of children on average compared to the Americans. Surprisingly, the Chinese were more agreeable with divorce. The Americans were more likely to support gender equality within marriage and to accept blended types of marriage. Both groups equally approved of the overall idea of couples cohabiting if they plan on marrying. However, the Americans were far more willing to say that they themselves would cohabit. Visions of the benefits of married life were similar across countries. Overall, far more significant differences were found than no differences. The results suggest that elements of marriage norms in the world’s largest economies are somewhat constrained by social forces in their ability to completely converge.

This paper aims to develop an effective framework which combines Bayesian optimized convolutional neural networks (BOCNN) with Monte Carlo simulation for slope reliability analysis.

The Bayesian optimization technique is firstly used to find the optimal structure of CNN based on the empirical CNN model established in a trial and error manner. The proposed methodology is illustrated through a two-layered soil slope and a cohesive slope with spatially variable soils at different scales of fluctuation.

The size of training data suite, T, has a significant influence on the performance of trained CNN. In general, a trained CNN with larger T tends to have higher coefficient of determination (R²) and smaller root mean square error (RMSE). The artificial neural networks (ANN) and response surface method (RSM) can provide comparable results to CNN models for the slope reliability where only two random variables are involved whereas a significant discrepancy between the slope failure probability (P_f) by RSM and that predicted by CNN has been observed for slope with spatially variable soils. The RSM cannot fully capture the complicated relationship between the factor of safety (FS) and spatially variable soils in an effective and efficient manner. The trained CNN at a smaller the scale of fluctuation (λ) exhibits a fairly good performance in predicting the P_f for spatially variable soils at higher λ with a maximum percentage error not more than 10%. The BOCNN has a larger R² and a smaller RMSE than empirical CNN and it can provide results fairly equivalent to a direct Monte Carlo Simulation and therefore serves a promising tool for slope reliability analysis within spatially variable soils.

A geotechnical engineer could use the proposed method to perform slope reliability analysis.

Slope reliability can be efficiently and accurately analyzed by the proposed framework.

The purpose of this paper is to analyze the operational decisions of a manufacturer who produces multiple products and the government's selection of cap-and-trade and carbon tax regulations.

This paper explores the production decisions of a multi-product manufacturer under cap-and-trade and carbon tax regulations in a cap-dependent carbon trading price setting and compares carbon emission, the manufacturer's profits and social welfare under the two regulations. Game theory and extreme value theory are used to analyze our models.

First, the authors find that the optimal profit of the manufacturer (the optimal cap) increases and then decreases with the cap (the unit carbon emission of product). Second, if the environmental damage coefficient is moderate, the optimal cap of unit environmental damage coefficient is independent of the product carbon emission or other related product parameters. Ultimately, cap-and-trade regulation always generates more carbon emission than carbon tax regulation. And cap-and-trade regulation (carbon tax regulation) can generate more social welfare if the environmental damage coefficient is low (high), and the social welfare under the two regulations is equal to each other, or otherwise.

This paper contributes the prior literature by considering the inverse relationship of the allocated cap and the carbon trading price and discusses the social welfare under cap-and-trade and carbon tax regulations. Some important and new results are found, which can guide the government's implementation of the two regulations.

The feasibility and desirability of reverse logistics in market-motivated contexts are examined in China. Interactions between the major barriers, that hinder or prevent the application of reverse logistics in China are analyzed. Management’s key task is to diagnose barriers to the application of reverse logistics that could be crucial to the organization’s future survival. Simultaneity, a value delivery system exists to create value for customers and environments by supplying needed products and services. Value delivery systems are at the heart of every firm and, more than anything else, determine that, whether the firm survives in the marketplace or disappears into bankruptcy or takeover. The processes and model of market-motivated reverse logistics value delivery system are discussed, and the processes content and model are presented. Simultaneity, based on the advantage of the Third Party Reverse Logistics Providers (3PRLs) and Outsourced Service Providers, an integrated evaluation model is built to select 3PRLs by using the integrated decision-making methods. Reflecting the comprehensive information requirement, the Analytic Hierarchy Process and entropy approaches are applied to calculate the objective weights. A new kind of relative similarity degree is established by combining the Euclidean distance with the grey correlation degree. An example demonstrates the model’s efficiency.