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The purpose of this paper is to postulate that market participants’ views on the nature of discretionary accruals as earnings management or earnings manipulation could relate to a rise or a fall in a firm’s stock prices.

Applying the quantile regression and measuring gains and losses according to the stock returns, this study shows that the relation between earnings manipulation and stock returns is non-uniform and it varies significantly across various quantiles of the latter.

The empirical results imply a positive (negative) |DA|-RETURN relation for stocks experiencing a rise (fall) in stock prices. This finding is consistent with the notion that market participants lean towards (become) trend followers (fundamentalists) when their stocks price rise (fall) and, thus, positively reward (negatively punish) discretionary accruals.

Using the behavioural heterogeneity of market participants as a research framework, this paper contributes to the literature by demonstrating that market participants’ decisions to positively reward (negatively punish) earning management behaviour depend on their perceptions on nature of discretionary accruals (earnings management vs earnings manipulation).

The purpose of this paper is to assess to what extent intraday data can explain and predict long-term memory.

This article analysed the presence of long-memory volatility in five Asian equity indices, namely, SENSEX, CNIA, NIKKEI225, KO11 and FTSTI, using five-min intraday return series from 05 January 2015 to 06 August 2015 using two approaches, i.e. conditional volatility and realized volatility, for forecasting long-term memory. It employs conditional-generalized autoregressive conditional heteroscedasticity (GARCH), i.e. autoregressive fractionally integrated moving average (ARFIMA)-FIGARCH model and ARFIMA-asymmetric power autoregressive conditional heteroscedasticity (APARCH) models, and unconditional volatility realized volatility using autoregressive integrated moving average (ARIMA) and ARFIMA in-sample forecasting models to estimate the persistence of the long-term memory.

Given the GARCH framework, the ARFIMA-APARCH long-memory model gave the better forecast results signifying the importance of accounting for asymmetric information when modelling volatility in a financial market. Using the unconditional realized volatility results from the Singapore and Indian markets, the ARIMA model outperforms the ARFIMA model in terms of forecast performance and provides reasonable forecasts.

The issue of long memory has important implications for the theory and practice of finance. It is well-known that accurate volatility forecasts are important in a variety of settings including option and other derivatives pricing, portfolio and risk management.

It could be said that using long-memory augmented models would give better results to investors so that they could analyse the market trends in returns and volatility in a more accurate manner and reach at an informed decision. This is useful to minimize the risks.

This research enhances the literature by estimating the influence of intraday variables on daily volatility. This is one of very few studies that uses conditional GARCH framework models and unconditional realized volatility estimates for forecasting long-term memory. The authors find that the methods complement each other.

The purpose of this paper is to develop a new finite difference method for solving the seismic wave propagation in fluid-solid media, which can be described by the acoustic and viscoelastic wave equations for the fluid and solid parts, respectively.

In this paper, the authors introduced a coordinate transformation method for seismic wave simulation method. In the new method, the irregular fluid–solid interface is transformed into a horizontal interface. Then, a multi-block coordinate transformation method is proposed to mesh every layer to curved grids and transforms every interface to horizontal interface. Meanwhile, a variable grid size is used in different regions according to the shape and the velocity within each region. Finally, a Lebedev-standard staggered coupled grid scheme for curved grids is applied in the multi-block coordinate transformation method to reduce the computational cost.

The instability in the auxiliary coordinate system caused by the standard staggered grid scheme is resolved using a curved grid viscoelastic wave field separation strategy. Several numerical examples are solved using this new method. It has been shown that the new method is stable, efficient and highly accurate in solving the seismic wave equation defined on domain with irregular fluid–solid interface.

First, the irregular fluid–solid interface is transformed into a horizontal interface by using the coordinate transformation method. The conversion between pressures and stresses is easy to implement and adaptive to different irregular fluid–solid interface models, because the normal stress and shear stress vanish when the normal angle is 90° in the interface. Moreover, in the new method, the strong false artificial boundary reflection and instability caused by ladder-shaped grid discretion are resolved as well.

This study aims to provide a new method of multiscale directional Lyapunov exponents (MSDLE) calculated based on the state space reconstruction for the nonstationary time series, which can be applied to detect the small target covered by sea clutter.

Reconstructed state space is divided into non-overlapping submatrices whose columns are equal to a predetermined scale. The authors compute eigenvalues and eigenvectors of the covariance matrix of each submatrix and extract the principal components σ_ip and their corresponding eigenvectors. Then, the angles ψ_ip of eigenvectors between two successive submatrices were calculated. The curves of (σ_ip, ψ_ip) reflect the nonlinear dynamics both in kinetic and directional and form a spectrum with multiscale. The fluctuations of (σ_ip, ψ_ip), which are sensitive to the differences of backscatter between sea wave and target, are taken out as the features for the target detection.

The proposed method can reflect the local dynamics of sea clutter and the small target within sea clutter is easily detected. The test on the ice multiparameter imaging X-ban radar data and the comparison to K distribution based method illustrate the effectiveness of the proposed method.

The detection of a small target in sea clutter is a compelling issue, as the conventional statistical models cannot well describe the sea clutter on a larger timescale, and the methods based on statistics usually require the stationary sea clutter. It has been proven that sea clutter is nonlinear, nonstationary or cyclostationary and chaotic. The new method of MSDLE proposed in the paper can effectively and efficiently detect the small target covered by sea clutter, which can be also introduced and applied to military, aerospace and maritime fields.

The purpose of this paper is to review the insights provided by behavioral finance studies conducted in the last decade (2006-2015) examining behavioral variables in financial decision making.

The literature review assesses 623 qualitative and quantitative studies published in various international refereed journals and identifies possible scope of future work.

The paper identifies stock market anomalies which contradict rational agents of modern portfolio theory at an aggregate level and behavioral mediators, influencing the financial decision making at an investor level. The paper also attempts to classify different dimensions of risk as professed by the investor.

The authors synthesize the contribution made by behavioral finance studies in extending the knowledge of financial market and investor behavior.

This study aims to address how the social structure of the hospitality management field has evolved from 1960 to 2016.

The informal social structure of the hospitality management literature was analyzed by collecting authorship data from seven hospitality management journals. Co-authorship analyses via network analysis were conducted.

According to the findings, throughout the history of hospitality management, international collaboration levels are relatively low. Based on social network analysis, the research community is only loosely connected, and the network of the community does not fit with the small-world network theory. Additional findings indicate that researchers in the hospitality management literature are ranked via degree centrality, closeness centrality and betweenness centrality. Cliques, which contain at least five researchers, and core researchers are identified.

This study helps both scholars and practitioners improve the informal structure of the field. Scholars must generate strong ties to strengthen cross-fertilization in the field; hence, they collaborate with authors who have strong positions in the field. Specifically, this provides a useful performance analysis. To the extent that institutions and individuals are rewarded for publications, this study demonstrates the performance and connectivity of several key researchers in the field. This finding could be interesting to (post)graduate students. Hospitality managers looking for advisors and consultants could benefit from the findings. Additionally, these are beneficial for journal editors, junior researchers and agencies/institutions.

As one of the first study in the field, this research examines the informal social structure of hospitality management literature in seven journals.

To analyze networks of social interactions between the residents of a therapeutic community (TC) for women and the way, in which such interactions predict the discussion of issues that arise in treatment.

In total, 50 residents of a corrections-based TC for women were surveyed on the peers with whom they socialized informally, shared meals, shared letters from home and discussed issues that arose in treatment over a 12 h period. The data were analyzed using exponential random graph models (ERGM).

Reciprocity occurred in all networks while transitivity (a tendency of two residents who are connected to both connect to a third peer) occurred in all networks measuring informal social interactions. When controlling for reciprocity and transitivity, residents avoided spending social time or sharing meals with the same peers. There was no evidence of homophily by race, age or years of education. Homophily by entrance time and case manager occurred in social time. Case manager homophily occurred in the discussion of treatment issues but disappeared when controlling for social time and sharing letters from home.

Social networks in this TC arise from factors endogenous to the TC itself. It should be possible to determine the characteristics of optimal social networks in TCs. External validity is limited.

It should be possible to intervene to optimize the social networks of TC residents.

This is the first ERGM analysis of both informal and formal interactions in a TC.

Among the different methodologies used for performance control in precision manufacturing, the measurement of metrological test artefacts becomes very important for the characterization, optimization and performance evaluation of additive manufacturing (AM) systems. The purpose of this study is to design and manufacture several benchmark artefacts to evaluate the accuracy of the selective laser melting (SLM) manufacturing process.

Artefacts consist of different primitive features (planes, cylinders and hemispheres) on sloped planes (0°, 15°, 30°, 45°) and stair-shaped and sloped planes (from 0° to 90°, at 5° intervals), manufactured in 17-4PH stainless steel. The artefacts were measured optically by a structured light scanner to verify the geometric dimensioning and tolerancing of SLM manufacturing.

The results provide design recommendations for precision SLM manufacturing of 17-4PH parts. Regarding geometrical accuracy, it is recommended to avoid surfaces with 45° negative slopes or higher. On the other hand, the material shrinkage effect can be compensated by resizing features according to X and Y direction.

No previous work has been found that evaluates accuracy when printing inwards (pockets) and outwards (pads) geometries at different manufacturing angles using SLM. The proposed artefacts can be used to determine the manufacturing accuracy of different AM systems by resizing to fit the build envelope of the system to evaluate. Analysis of manufactured benchmark artefacts allows to determine rules for the most suitable design of the desired parts.

This study analyzes the effect of content marketing on women's happiness through eudaimonia and hedonism factors and the final result on desires and actions taken.

A total of 227 valid questionnaires were collected from women respondents. The data analysis used partial least squares structural equation modeling (PLS-SEM) to clarify the relationships in the proposed model.

Content marketing turns out to be a crucial factor affecting both eudaimonia and hedonism. Moreover, while eudaimonia plays a particular role in women's behavior, hedonism works likewise on desires.

A crucial decision before developing content marketing is to consider if the final result is to produce desirability or feasibility in consumers. Content marketing addressing eudaimonia will impact feasibility; while the content aims to create desirability, the hedonic aspect of happiness should be emphasized.

Though content marketing and the effect of content marketing on brands' performance and consumer decision processes has been deeply analyzed in the literature, there is a lack of research into the effect of such content on consumers' well-being. Another contribution of this study is the focus on local brands and on women's eudaimonia and hedonism.

Presents a special issue, enlisting the help of the author’s students and colleagues, focusing on age, sex, colour and disability discrimination in America. Breaks the evidence down into manageable chunks, covering: age discrimination in the workplace; discrimination against African‐Americans; sex discrimination in the workplace; same sex sexual harassment; how to investigate and prove disability discrimination; sexual harassment in the military; when the main US job‐discrimination law applies to small companies; how to investigate and prove racial discrimination; developments concerning race discrimination in the workplace; developments concerning the Equal Pay Act; developments concerning discrimination against workers with HIV or AIDS; developments concerning discrimination based on refusal of family care leave; developments concerning discrimination against gay or lesbian employees; developments concerning discrimination based on colour; how to investigate and prove discrimination concerning based on colour; developments concerning the Equal Pay Act; using statistics in employment discrimination cases; race discrimination in the workplace; developments concerning gender discrimination in the workplace; discrimination in Japanese organizations in America; discrimination in the entertainment industry; discrimination in the utility industry; understanding and effectively managing national origin discrimination; how to investigate and prove hiring discrimination based on colour; and, finally, how to investigate sexual harassment in the workplace.