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The balanced vane pump is a common transmission component in hydraulic systems. Since the physicochemical properties of water and seawater are different from that of mineral oil, some problems can occur, for instance, poor lubrication, more leakage, and more corrosion. The paper aims to demonstrate the technical feasibility for the water hydraulic vane pump.

The material combinations were selected based on related research in literature. The volumetric efficiency and suction performance were measured in the current experiment. The relations between gap clearances and leakage flow, the contact and the friction forces between a vane tip and a cam contour were simulated based on mathematic models.

The soft‐hard material combinations in the prototype pump show preferable friction characteristics during tests. The axial clearances are the main channels of leakage flow. Pin type vane pump can reduce the contact force of the vane tip.

This paper outlines some key problems of the water hydraulic vane pump, such as the friction pair material,the structure, and the contact force of the vane tip by means of testing the basic performance of pump and mathematic model.

The purpose of this paper is to examine whether and how auditors’ and audit clients’ IFRS-related experience alters auditors’ pricing decisions in the initial years of IFRS adoption in China.

The authors conduct the analysis by examining audit fees from 4,129 sample observations that issued A-shares in the Shanghai and Shenzhen stock exchanges from 2005 to 2008. The authors empirically test the association between audit premiums and auditors’ and auditees’ IFRS experience.

The authors find that auditors with IFRS experience charged significantly higher audit premiums in the initial years of IFRS adoption. The authors also find that audit clients’ with IFRS experience paid significantly lower incremental fees. The authors further find that the increased fees charged by audit firms with IFRS experience are independent of the degree of changes in the financial reporting complexity of their clients. In contrast, audit clients with IFRS experience paid lower incremental fees only when they underwent a high degree of changes in financial reporting complexity.

First, it is the understanding that this study is the first to provide evidence on the effect of audit clients’ experience on audit fees. Second, the measure of auditors’ expertise is independent of audit clients’ decisions and is a less noisy measure. Third, the findings complement the existing evidence from other countries regarding the effects of IFRS convergence on audit fees. Finally, this study empirically tests the effects of changes in financial reporting complexity on audit fees.