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The aim of this paper is to investigate the association of earnings quality with corporate performance of publicly listed firms of China and tries to provide a new explanation. Poor earnings quality is normally characterized by unhealthy profitability and/or untrue financial information, which leads to a misallocation of capital and low corporate performance. The largest emerging economy of China has experienced a fast and fluctuant growth, while the companies have been thought of low earnings quality.

Initial univariate and multivariate analyses are conducted using four earnings quality measures and either accounting-based corporate performance or market-based corporate performance. Further analyses apply unmanaged earnings, earnings-increase management and financially distressed firms.

The authors find that low earnings quality is associated with high corporate performance for the Chinese publicly listed firm in their sample period. Further evidence shows that earnings management is only a contributor to the negative relationship, not its main driver. They argue that the negative association of earnings quality with corporate performance is a phenomenon of a new emerging market within an economy booming period, particularly in China.

The results and argument of this paper may not totally follow the traditional literature. But they provide a new research question that requires further studies.

In theoretical discussion, this paper partitions earnings quality into two components: One results from reporting accuracy and the other results from firm’s operating outcome. In empirical analyses, this paper examines both accounting-based performance and market-based performance, and both managed earnings and unmanaged earnings.

The financial sector's resilience is associated with greater prosperity and a better average income. Banks have evolved their business model and diversified their sources of income, and bank digitalization has become one of the prominent strategies. The purpose of this study is to examine how bank service expansion represented by revenue diversification activities and digital strategy will enhance bank stability in ASEAN countries from 2010 to 2021.

This study uses information from the Datastream database and banks’ annual reports to measure bank stability, diversification and market power, which also provide information for bank digital strategy. This study uses the two-step system generalized method of moments to investigate the effect of diversification and digitalization on bank stability in ASEAN.

The results of this study show that bank revenue diversification has no effect on bank stability, and the presence of the chief digital officer and digital disclosure improves banks’ stability. However, alliance strategy with financial technology companies does not significantly impact bank stability and might increase bank risk.

The findings of this study provide relevant policy implications: the regulation should support bank business to diversify the source of income; regulators and policymakers should regulate and enhance the Information and Communication Technology infrastructure; and banks should design their strategy comprehensively.

This study provides new evidence of the essential role of digital strategy in enhancing bank stability in ASEAN. In addition, this study also shows how banks diversify their business in a competitive environment.

This paper aims to empirically examine the impact of mandatory CSR disclosure on the CEO pay performance sensitivity.

Using the mandatory requirement of CSR disclosure as an exogenous shock, the authors compare the changes in CEO pay performance sensitivity for treatment firms with control firms through a difference-in-difference (DiD) approach.

The authors find that mandatory CSR disclosure enhances CEO pay performance sensitivity. The results also show that monitoring CEO power is a conduit through which mandatory CSR disclosure affects CEO pay performance sensitivity. The positive impact is more profound in firms with a powerful CEO, i.e. one who is politically well-connected, holds dual roles as both CEO and Chairman, and/or has had a long tenure. Furthermore, the increased CEO pay performance sensitivity after the mandate is prominent among state-owned enterprises (SOEs) only.

The findings of this paper have implications for other economies with similar institutional backgrounds as China. Although the mandatory CSR disclosure does not require firms to spend on CSR investment, the mandatory CSR disclosure alters firm behaviour, and mitigates agency problems.

This paper contributes to the studies on the impact of CSR disclosure on firms' behaviour. To the authors' knowledge, this is the first study to examine the effects of mandatory CSR disclosure on CEO pay performance sensitivity using the quasi-natural experiment settings.

The authors examine the debt maturity structure of Chinese listed companies during the period when bond market was under-developed and the majority of commercial banks were owned by the state. The purpose of this paper is to answer why and how the different ownership control types impact the firms’ preference and accessibility to either long- or short-term debts.

The univariate analysis was used to test the differences of debt maturity choices for firms grouped by ownership control types, profitability and institutional development. Then, logit regression and ordinary least squares regression were applied to examine the determinants of ownership control types in debt maturity structures.

Compared to privately controlled firms, state-owned enterprises had greater access to long-term debt and used less short-term debt during the sample period. Evidences also indicate that the on-going financial reform has increased the motivation of banks to consider company profitability in their lending decisions. However, state-owned banks still discriminate private firms in allocation of financial resources, particular in less-developed regions.

Due to the research scope and data limitations, the authors cannot take some factors into consideration, such as collateral, guarantee, credit ranking, financing agreement and leasing obligation.

This study extends the existing literature in three ways. First, the authors investigate the bank discrimination problem into the loan term structure. Second, the authors recognise the effect of financial reform on alleviation in bank discrimination problem. Finally, the authors take the consideration of institutional development of firms’ location areas in their analyses.

The paper aims to propose a systematic approach for human factors (HFs) automatic evaluation for entire maintenance processes in virtual environment.

First, a maintenance process information model is constructed to map real maintenance processes into computer environment. Next, based on this information model, the automatic evaluation methods for visibility, operation comfort and reachability are presented. All evaluation results are weighted and added up to establish a comprehensive HFs evaluation model. Then, the methods mentioned above are realized as an HFs evaluation module, which is integrated into virtual maintenance simulation platform, software developed by our lab.

An application in HFs evaluation of repairing hydraulic motor on container spreader is implemented, and an on-site survey is carried out. The comparison between the result from the survey and the result we get using the presented methods shows that our solution can support HFs fast assessment accurately and effectively.

Through evaluating maintenance operation processes, engineers can better analyze and validate the maintainability design of complex equipment, and some potential ergonomic issues can be found and dealt earlier.

The paper contributes to present a systematic approach to achieve HFs fast and accurate evaluation for entire maintenance processes, rather than for a few maintenance postures.

The need for a holistic framework for studying organisational transformation towards Servitization is implicit. This is particularly relevant as Servitization demands consideration of both business model and organisational change. The purpose of this paper is, therefore, to provide an integrative framework that systematically captures and evaluate existing literature on Servitization.

The aim of the paper has been achieved through three main objectives; comprehensively examine the literature in organisational change management that would assist with the selection of the most effective evaluation framework, classify previous studies against the proposed framework through a systematic literature review methodology and analyse the selected papers and propose research questions/propositions based on the identified gaps.

Results indicate that there are two somewhat macro opportunities for the Servitization community, namely, stronger infusion of generic theory into the Servitization debate and exploring Servitization in action through the lens of the theoretical framework.

The findings of the paper demonstrate the gaps in the Servitization literature, which indeed require further theoretical/empirical research.

It is discussed the usefulness and practicality of viewing research contributions that are setting out to be either “descriptive” or “prescriptive”. Consequently, the authors have proposed several avenues for future research based on these two viewpoints.

This study aims to investigate the relationship between earnings quality and corporate voluntary disclosure among Malaysian listed companies. Moreover, it examines the moderating effect of the ownership structure on the relationship between earnings quality and corporate voluntary disclosure.

This study covers 300 companies listed on Bursa Malaysia. It has used strategic, financial and non-financial information to measure voluntary disclosure; earnings management, persistence and smoothness to measure earnings quality; and institutional and managerial shareholders to measure ownership structure. Hierarchical regression analysis was used to investigate if ownership structure moderates the relationship between earnings quality and corporate voluntary disclosure.

The results in this work imply that companies with high earnings quality are more likely to disclose voluntary information to help stakeholders. Furthermore, this study provides original evidence that institutional ownership and managerial ownership play a main role as moderating variables that influence management motives toward practices of voluntary disclosure and earnings quality.

Because of the limited number of empirical studies on the relationship between voluntary disclosure and earnings quality, this study fills a gap in the literature by investigating the relationship between them. In addition, a lack of research exists on the effects of ownership structure on the relationship between voluntary disclosure and the earnings quality. Therefore, this study makes an original contribution to the literature by using institutional and managerial ownership as moderating variables to investigate the effects of the ownership structure on the relationship between voluntary disclosure and earnings quality in Malaysian companies.

The purpose of this paper is to estimate the relationship between stock prices and exchange rates of eight Asian countries. The analysis is based on methodologies that possess the ability to provide a complete representation of data series from both time and frequency perspectives simultaneously. In addition, instead of limiting the analysis to focus on the conditional mean of the response variable y in the regression equation, the authors investigate the extremes of distribution to reveal a range of hidden relationships between these variables.

Given the limitations of classical methodology of Pearson correlation and least-squares regression, this study estimates the relationship between stock prices and exchange rates through wavelet correlation and cross-correlation to serve as a protocol for different traders who view the market with different time resolutions. In addition, quantile regression technique robust to heteroscedasticity, skewness and leptokurtosis is used to understand the relationship between stock prices and a specified quantile of the exchange rates.

In accordance with the portfolio balance effect, it is observed that stock prices and exchange rates are negatively correlated at all frequencies. In particular, the negative correlation grows with higher time scales (lower frequency intervals). The findings from quantile regression also suggest that the coefficients are more inclined to be negative when exchange rates are extremely high.

The paper contributes to the literature by focussing on the multi-scale relationship between stock prices and exchange rates. In addition, it also analyzes the relationship between stock prices and a specified quantile of the exchange rates.

The purpose of this paper is to propose a new assessment methodology for the African Peer Review Mechanism (APRM) using fuzzy comprehensive evaluation method (FCEM) and the Delphi technique. The proposed approach by its design simplifies the review processes and also quantifies the outcome of the assessment result for easier interpretation and benchmarking among member countries. The proposed hybrid method demonstrates how the subjective APRM thematic areas and their objectives can be efficiently tracked country by country while addressing the key identified challenges.

Using a numerical example, a demonstration of how the APRM assessment could be carried is shown using the FCEM and the Delphi method. The APRM's own thematic areas are used as the evaluation factors and the weights are assigned using Delphi technique. A novel remark set is constructed to linguistically describe the performance of a country against each or all of the thematic areas. Then in line with the maximum membership degree principle, the position of the maximum number would correspond to its respective remark element to indicate the level of performance.

The result shows a hybrid method of FCEM and Delphi used to determine whether a member country has “achieved”, “on track”, “very likely to be achieved”, “possible if some changes are made” or “off-track” on the four focus areas of the APRM. The method provides a well-organized way of tracking progress of member countries. It is also an ideal method of tracking progress of individual thematic areas and objectives. Moreover, the simplicity of the proposed method, the preciseness of the final result it generates and the clear interpretation of the result makes it a stronger alternative to the current approach for assessing member countries.

The APRM is a respected body with the backing of the heads of state in Africa. As most African countries become conscious of the pressure to meet international standards as far as governance performance is concerned, this proposed assessment methodology if adopted would go a long way in improving performance evaluation on the continent.

The proposed methodology is unique in its simplicity and its ability to evaluate any of the APRM thematic areas independent of the others. This means an overall performance can be tracked as well as that of individual evaluation factors.