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Using a sample of 9,898 firm-year observations from 1,821 unique Chinese listed firms over the period from 2004 to 2019, this study aims to investigate whether the market rewards meeting or beating analyst earnings expectations (MBE).

The authors use an event study methodology to capture market reactions to MBE.

The authors document a stock return premium for beating analyst forecasts by a wide margin. However, there is no stock return premium for firms that meet or just beat analyst forecasts, suggesting that the market is skeptical of earnings management by these firms. This market underreaction is more pronounced for firms with weak external monitoring. Further analysis shows that meeting or just beating analyst forecasts is indicative of superior future financial performance. The authors do not find firms using earnings management to meet or just beat analyst forecasts.

The authors provide evidence of market underreaction to meeting or just beating analyst forecasts, with the market's over-skepticism of earnings management being a plausible mechanism for this phenomenon.

The findings of this study are informative to researchers, market participants and regulators concerned about the impact of analysts and earnings management and interested in detecting and constraining managers' earnings management.

The authors provide new insights into how the market reacts to MBE by showing that the market appears to focus on using meeting or just beating analyst forecasts as an indicator of earnings management, while it does not detect managed MBE. Meeting or just beating analyst forecasts is commonly used as a proxy for earnings management in the literature. However, the findings suggest that it is a noisy proxy for earnings management.

Many experts suggest that the human being explore marine resources and marine new energy sources to alleviate the shortage of land resources and the ecological degradation. However, island coastal zones are considered to be fragile ecosystems; their geographical location and natural characteristics, their biodiversity and associated ecosystems, and their exposure to diverse land and sea conditions all make them highly vulnerable to environmental changes and human activities. Therefore, it is necessary to achieve the goals of environmental protection and sustainable development on the basis of a comprehensive evaluation and understanding of islands.

Due to the importance of island groups, this paper conducts evaluation studies on them. Using the Delphi, AHP and TOPSIS methods, this study evaluated quantitatively the comprehensive development level and comprehensive development potential of island groups in terms of resources, natural environment, economy and society. Innovatively using them as two subsystems, the present study combined the coupling coordination model and the obstacle factor calculation method.

The prospective index of comprehensive development was applied to the Changdao Island Group in Yantai, Shandong Province as an example, and the final evaluation revealed that the comprehensive development prospect of this island group had an upward trend from 2010 to 2017. Future efforts should be made to improve its economic and social conditions and economic development status, apart from promoting its comprehensive development by improving human resources management, increasing the GDP growth rate, and improving fresh water and electricity supply.

This study takes the integrated development level of the island and the integrated development potential of the island as two subsystems, and the innovative application of the coupling coordination degree model is used to calculate the integrated development index of the island to understand the development status of the island area. On the basis of this model, the obstacle factor identification method is designed to identify the main obstacle factors, and on the basis of evaluation and identification, specific measures to ensure the sustainable development of the island area are effectively proposed.

This paper proposes a solution for recognizing human faces under mask-wearing. The lower part of human face is occluded and could not be used in the learning process of face recognition. So, the proposed solution is developed to recognize human faces on any available facial components which could be varied depending on wearing or not wearing a mask.

The proposed solution is developed based on the FaceNet framework, aiming to modify the existing facial recognition model to improve the performance of both scenarios of mask-wearing and without mask-wearing. Then, simulated masked-face images are computed on top of the original face images, to be used in the learning process of face recognition. In addition, feature heatmaps are also drawn out to visualize majority of parts of facial images that are significant in recognizing faces under mask-wearing.

The proposed method is validated using several scenarios of experiments. The result shows an outstanding accuracy of 99.2% on a scenario of mask-wearing faces. The feature heatmaps also show that non-occluded components including eyes and nose become more significant for recognizing human faces, when compared with the lower part of human faces which could be occluded under masks.

The convolutional neural network based solution is tuned up for recognizing human faces under a scenario of mask-wearing. The simulated masks on original face images are augmented for training the face recognition model. The heatmaps are then computed to prove that features generated from the top half of face images are correctly chosen for the face recognition.