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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 examine the association between firm performance and product market competition (PMC), and then examine the mitigation effect of corporate governance and/or state-ownership (SOEs) in the association between PMC and firm performance using Chinese listed firms.

The authors consider three determinants of the PMC that affect the nature of competition, and use market concentration, product substitutability and market size as proxies for PMC. The authors construct a corporate governance index which measures the extent of board independence, monitoring strength of supervisory board over board of directors, and monitoring strength of board of directors over CEO. The authors use Tobin’s Q as a proxy for firm performance. The authors use a sample of 20,706 firm-year observations listed on the Chinese stock market between 2001 and 2016 to empirically investigate the research questions proposed in the paper.

The authors find that higher PMC is associated with lower firm performance. The authors find that good corporate governance practices moderate the negative effect of higher PMC on firm performance. The association between higher PMC and lower performance is weaker for firms controlled by SOEs compared to non-SOEs. Further, the moderation effect of SOEs on the association between higher PMC and lower performance is more pronounced for firms with good corporate governance practices compared to firms with weak corporate governance practices.

Extant studies investigating the relationship between PMC and corporate governance suggest an either complementary or substitution relationship in developed economies. Our study highlights the interactive role played by SOEs and good corporate governance practices in firm performance in highly competitive product markets in an emerging economy. The findings provide insightful information to regulators of other emerging countries that SOEs with good corporate governance practices can play an important role in the economy by mitigating the negative effect of higher PMC on firm performance.

The purpose of this paper is to examine the effectiveness of the “Made in China, Made with the World” advertisement broadcast on the US television station CNN in 2009 and derives recommendations for China's further efforts in promoting the image of products made in China (PMC).

Through a survey based on the Solomon four‐group design, this study collected primary data from 546 students at an American university in 2010 and used the data to test the effectiveness of the CNN advertisement and identify factors that affect the respondents' perceptions about PMC.

Statistical tests indicate that the TV advertisement did not result in the expected effects and even had some boomerang effects on the perceptions about PMC and China's developments, and regression analysis confirms these conclusions. Also, the TV advertisement received low ratings from the respondents in credibility, trustworthiness, rationality, information, stimulation, and excitability.

As exports continue to play an important role in the Chinese economy and PMC are likely to face more challenges in the global markets, China needs to understand both consumer preferences and product safety regulations in the foreign markets, focus more on quality and safety over low prices, and improve the effectiveness of its promotion efforts on the basis of scientifically sound studies.

While the CNN TV advertisement was China's first TV campaign abroad to enhance the image of PMC, this paper presents one of the first studies for assessing the effectiveness of the advertisement and deriving recommendations for China's further efforts in promoting PMC.

The purpose of this paper is to analyze the effect of exposure to prosocial media content (PMC) on the subsequent intention to donate to a prosocial cause of a rejected group versus a prosocial cause of a neutral group. The hypothesis, supported in two experimental studies, is that for the individual exposed to a PMC, the difference in the donations for social causes of a rejected group and a neutral group is smaller than for the individual exposed to a non-PMC.

Two between-subjects experimental studies were performed. In both studies, the individual’s emotional responses were manipulated through PMC (conditions: prosocial versus non-prosocial). Then, respondents were asked to split a fixed amount of money between two social actions whose beneficiaries were members of a rejected group versus members of a neutral group.

It was found that the difference in donation between the two actions associated with different types of beneficiaries (i.e. rejected group vs neutral group) was smaller for the individuals exposed to PMC than for individuals exposed to non-PMC.

In this research, the donating behavior was operationalized by a simulated donation and not by a real donation.

Results suggest that PMC on the internet could be effective in reducing rejection for stigmatized dissociation groups for which it is difficult to get help.

The results suggest that exposure to PMC on the internet can increase donations for rejected groups. The confirmation of the PMC effect on reducing negative outcomes opens the possibility to diminish negativity toward stigmatized groups.

Theoretically, the explanations are based on the social comparison theory.

This study aims to examine the impact of product market competition (PMC) from existing rivals and potential market entrants on earnings quality (EQ) in China.

This study examines the impact of PMC on EQ by using the EQ measure of Kothari et al. (2005), and it uses measures for competition from existing and potential rivals. This study analyzed Chinese firms for the period of 2000-2014 and also examined the impact of International Financial Reporting Standards (IFRS) adoption and state ownership on the relationship between PMC and EQ.

This study found a positive relationship between PMC and EQ. It also documents that competition from existing rivals does not improve EQ by reducing real activity manipulation, but competition from potential entrants does. The findings propose that market competition from existing rivals is a relevant factor for determining EQ before and after IFRS adoption, but competition from potential entrants improves EQ only after IFRS adoption. Moreover, the results suggest that market competition plays no role in improving the EQ of state-owned enterprises (SOEs).

The results support the argument that PMC acts as a governance mechanism and influences managerial decisions regarding financial reporting. Our study also helps to understand the impact of change in the regulatory regime, i.e. IFRS adoption, on the relationship between PMC and EQ. This study also helps demonstrate the impact of competition on management decisions with respect to the EQ of SOEs.

This paper aims to investigate the joint effect of product market competition (PMC) and institutional environment on accrual quality.

The sample covers a large data set of 52,138 firm-year observations from 35 countries over the period of 2011-2015. Using the weighted least square regression, the study estimates PMC and institutional environment on accrual quality. The study measures PMC based on Herfindahl-Hirschman index, anti-director rights index (ADRI) based on the revised and updated La Porta et al.'s (1998) and accrual quality using the modified Dechow and Dichev (2002) model proposed by McNichols (2002). The study also uses a series of specification tests using alternative measures for each variable.

The study finds that highly intensified PMC relates to a lower quality of accruals. The results also show that accrual quality is better in countries with stronger institutional environment, specifically countries with higher ADRI, investor protection, judicial independence, protection of minority shareholders’ interests, protection of property rights, strength of the auditing and reporting standards, efficacy of corporate boards and corporate ethics. The findings suggest that institutional factors weaken the negative impact of PMC intensity on accrual quality, hence suggesting that institutional environment has a significant role to enhance accrual quality among firms in highly intensified industries.

The findings provide additional insights to policymakers and regulators on the importance of strong institutional and industry environment that can provide incentives and extra governance mechanisms besides the conventional firm-level corporate governance.

This study contributes in understanding the impact of intensity of PMC on accrual quality internationally and subsequently highlights the role of institutional environment as significant country-level governance in determining financial reporting quality, particularly accrual quality.

The use of external project management consulting firms (PMCs) in construction projects has not been widely accepted by practitioners in Malaysia because of several failed experiences in public projects. This study aims to investigate the important roles of PMCs, the key factors contributing to their effective performance, and the appropriate measurement criteria for assessing performance.

A list of potential PMC success factors and performance measurement criteria was initially obtained from a literature review and verified by a panel of selected experts. Opinions from the experts regarding the important roles of PMCs were also analysed. An industry‐wide survey questionnaire was then developed to collect data from industry practitioners who had recent hands‐on experience working with PMCs in construction projects. Finally, the PMC success model was formulated based on the responses of the industry‐wide survey.

Significant roles of PMCs were determined, as well as 12 underlying PMC success factors and five important criteria for assessing PMC performance. Practical applications of the PMC success model devised from the identified success factors and measurement criteria were also highlighted.

The findings of this study can help industry practitioners who are working or planning to work in projects implementing the PMC concept in Malaysia to gain an enhanced understanding of how to apply the concept effectively, leading to increased benefits of appointing PMCs and promoting the utilisation of the PMC concept in the Malaysian construction industry.

This paper aims to explore the impact of product market competition (PMC) on companies’ investment in external auditing.

This paper applies a conceptual framework derived from demand–supply analysis and a panel data set of 2,263 listed manufacturing companies in China covering the period 2012–2019. In the assessment of PMC, this study measures industry-level competition intensity and company-specific market power separately.

Industries appear to engage in a lower average level of external auditing if industrial competition intensity is either too high or too low. Similarly, companies spend less on external auditing if their market power is either too strong or too weak, and the company-level inverted U-shaped relationship is much more evident in industries with weak PMC.

This paper shows that a company’s external audit strategy is affected by the level of competition it faces in its market. The findings of this paper can improve the current linear PMC–auditing theoretical framework and provide insights into the strategic auditing of listed companies in China. The findings also have significant implications for policy recommendations regarding corporate governance and market scrutiny regulations.

This study aimed to examine the mental health information entities and associations between the biomedical, psychological and social domains of bipolar disorder (BD) by analyzing social media data and scientific literature.

Reddit posts and full-text papers from PubMed Central (PMC) were collected. The text analysis was used to create a psychological dictionary. The text mining tools were applied to extract BD entities and their relationships in the datasets using a dictionary- and rule-based approach. Lastly, social network analysis and visualization were employed to view the associations.

Mental health information on the drug side effects entity was detected frequently in both datasets. In the affective category, the most frequent entities were “depressed” and “severe” in the social media and PMC data, respectively. The social and personal concerns entities that related to friends, family, self-attitude and economy were found repeatedly in the Reddit data. The relationships between the biomedical and psychological processes, “afraid” and “Lithium” and “schizophrenia” and “suicidal,” were identified often in the social media and PMC data, respectively.

Mental health information has been increasingly sought-after, and BD is a mental illness with complicated factors in the clinical picture. This paper has made an original contribution to comprehending the biological, psychological and social factors of BD. Importantly, these results have highlighted the benefit of mental health informatics that can be analyzed in the laboratory and social media domains.

The purpose of this paper is to discuss the design and fabrication of magnetic couplings to use for vacuum robots. The permanent magnetic coupling (PMC) is appropriate for torque transmission in ultrahigh vacuum and highly clean environments. However, conventional structures of PMC are always unsuitable to use for vacuum robots.

Two types of design scheme for radial magnetic couplings are introduced and compared. The major characteristic of the novel design scheme is that the inner part uses a nonmagnetic mantle to enclose the magnets and yoke, and the outer part uses two end closures to position magnets. The locating groove on the end closure may be manufactured as T‐shape or dovetail shape.

The 3D finite element analysis simulation results and experimental studies have demonstrated that the proposed Design B had a lower contamination rate and a higher transmission efficiency than the Design A.

The limitation of the research to date is that issues of control, path‐planning, and communication have not yet been addressed.

The proposed PMC is successfully applied in vacuum robots which uses combined direct drive techniques and magnetic transmit techniques.

These results suggest that the proposed PMC is suitable for using in vacuum robots.