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Article

Ahsan Habib and Hedy Jiaying Huang

Although a substantial body of literature investigates the determinants of audit report lag (ARL), scant empirical evidence exists on the consequences of ARL. The purpose…

Abstract

Purpose

Although a substantial body of literature investigates the determinants of audit report lag (ARL), scant empirical evidence exists on the consequences of ARL. The purpose of this paper is to examine the association between abnormally long ARL and future stock price crash risk.

Design/methodology/approach

This quantitative study employed a large scale (14,445 firm-year observations) of annual financials, audit and ownership information for the Chinese listed companies during 2002–2013 which were retrieved from the China Stock Market and Accounting Research database.

Findings

This study finds evidence that abnormally long ARL increases the risk of a future stock price crash. Furthermore, the study finds that this adverse consequence is more pronounced for firms with a poor internal control environment.

Practical implications

Recently literature started to explore the consequences of abnormal ARL such as going concern audit opinion and restatements in the subsequent periods. This paper reveals that abnormal ARL has consequences for investor wealth losses as well. This is relevant in China, where the ongoing economic growth has attracted, and will continue to attract, a growing body of domestic and international investors. Understanding what factors could expose investors to wealth losses is of paramount importance for allocating their scarce capital.

Originality/value

This study extends the scant literature on the consequences of ARL, and provides useful insights for the Chinese regulatory authorities when considering the appropriateness of the current filing deadline for listed firms.

Details

International Journal of Managerial Finance, vol. 15 no. 4
Type: Research Article
ISSN: 1743-9132

Keywords

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Article

Yanru Zhong, Chaohao Jiang, Yuchu Qin, Guoyu Yang, Meifa Huang and Xiaonan Luo

The purpose of this paper is to present and develop an ontology-based approach for automatic generation of assembly sequences.

Abstract

Purpose

The purpose of this paper is to present and develop an ontology-based approach for automatic generation of assembly sequences.

Design/methodology/approach

In this approach, an assembly sequence planning ontology is constructed to represent the structure and interrelationship of product geometry information and assembly process information. In the constructed ontology, certain reasoning rules are defined to describe the knowledge and experience. Based on the ontology with reasoning rules, the algorithm for automatically generating assembly sequences is designed and implemented.

Findings

The effectiveness of this approach is verified via applying it to generate the assembly sequences of a gear reducer.

Originality/value

The main contribution of the paper is presenting and developing an ontology-based approach for automatically generating assembly sequences. This approach can provide a feasible solution for the issue that mathematics-based assembly sequence generation approaches have great difficulty in explicitly representing assembly experience and knowledge.

Details

Assembly Automation, vol. 40 no. 2
Type: Research Article
ISSN: 0144-5154

Keywords

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Article

Caiquan Bai, Yiqing He, Decai Zhou, Yi Zhang and Zhengyi Jiang

The paper aims to know about energy condition’s impacts on inflation comprehensively.

Abstract

Purpose

The paper aims to know about energy condition’s impacts on inflation comprehensively.

Design/methodology/approach

This paper constructs China’s energy condition index (ECI) by bringing in three variables (China’s energy price, consumption and production) based on the financial condition index.

Findings

The result of empirical analysis shows that the index can predict China’s inflation well.

Originality/value

China’s ECI can predict China’s inflation well.

Details

International Journal of Energy Sector Management, vol. 9 no. 3
Type: Research Article
ISSN: 1750-6220

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Article

Yilei Zhang and Yi Jiang

The purpose of this paper is to examine CEO wealth changes around seasoned equity offerings (SEOs) to explore the shareholder-manager incentive alignment in major…

Abstract

Purpose

The purpose of this paper is to examine CEO wealth changes around seasoned equity offerings (SEOs) to explore the shareholder-manager incentive alignment in major corporate equity financing decisions.

Design/methodology/approach

The authors decompose CEO wealth into three major components: price effect, board compensation grant, and CEO’s own portfolio adjustment. The authors then compare SEO-event sample vs non-event samples; and evaluate the dynamic and long-run CEO wealth effect.

Findings

The authors find when market reacts negatively to SEO announcement leading to losses in CEO’s existing firm-related wealth, CEO gets additional grants to offset the losses. Although this appears to be a rent-seeking activity, the authors find that the additional grants are mainly in the form of stock options which would have no value if stock price failed to pick up in the future. In this sense, the additional grants align the interests between shareholders and managers. Consistent with this argument, the authors show that the additional grants motivate CEOs to promote the stock performance, benefiting themselves as well as shareholders in the long-run.

Originality/value

The study explicitly calculates the contribution of each wealth component to CEO total wealth effect. The results improve the understanding of CEO compensation policy change after major corporate event and contribute to the literature of the optimality explanation of prevailing compensation policy.

Details

Managerial Finance, vol. 41 no. 1
Type: Research Article
ISSN: 0307-4358

Keywords

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Article

Yi Jiang and Jing Zhao

IT-based supply chain performance is co-created through inter-organizational business processes. This research is motivated to explore how business value of IT in supply…

Abstract

Purpose

IT-based supply chain performance is co-created through inter-organizational business processes. This research is motivated to explore how business value of IT in supply chain is co-created in downstream process and probe into the possible complementary effect of relational resources from retailers and customers during the cooperative process. The paper aims to discuss these issues.

Design/methodology/approach

A model is proposed to conceptualize the process with three dimensions and six constructs, which emerges a causal link between organization resources application, e-supply chain capability (ESCC) and process performance. And then the research model was validated using partial least squares with data collected from 128 manufacturing firms in China.

Findings

The results provide broad support for the following: the casual relationship among inter-organizational resources interaction, ESCC and process performance; the mediating role of ESCC in the e-CRM process is more significant than that in e-ordering process; and there is the moderating effect between relational resources and internal resources in e-CRM process.

Practical implications

It offers guidelines for managers to plan the roles played by resource, capabilities and performance for e-supply chain success in multi-firm environments.

Originality/value

This study provides a novel perspective and offers important implications for e-supply chain research and practice, by exploring intermediate factors and shedding light on the process of co-creating business value of IT in supply chain.

Details

Industrial Management & Data Systems, vol. 114 no. 1
Type: Research Article
ISSN: 0263-5577

Keywords

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Article

Ying Li, Ke Yang, Jin Chen, Sumeet Gupta and Feiyang Ning

Drawing upon the Elaboration Likelihood Model, the purpose of this paper is to examine how the characteristics of social media moderate the effect of a firm’s apology on…

Abstract

Purpose

Drawing upon the Elaboration Likelihood Model, the purpose of this paper is to examine how the characteristics of social media moderate the effect of a firm’s apology on the attitude of its customers.

Design/methodology/approach

An online experiment including 360 active users of internet was employed to test the research model.

Findings

Results revealed that an after-crisis apology and firm reputation both have a positive effect on after-crisis user attitude toward the firm. Furthermore, the positive effect of apology becomes stronger as online media interactivity increases, whereas the positive effect of reputation becomes weaker.

Research limitations/implications

This study included only one important characteristic of social media, and experimental scenarios were limited to car recall crisis. Considering that social media has so many platforms that may have different kinds of interactivity, further studies can be conducted to figure out the most suitable social media for firms to deal with an online crisis.

Practical implications

The results inform managers of the importance of after-crisis apology and firm reputation. It is worthwhile for managers to find out the levels of online media interactivity at which users focus on apology and reputation and accordingly conduct an effective online crisis management response strategy.

Originality/value

This study extends the literature on online crisis management and the literature on ELM by highlighting the role of online media interactivity in influencing the persuasive effectiveness of firm’s crisis response in the context of social media.

Details

Information Technology & People, vol. 32 no. 4
Type: Research Article
ISSN: 0959-3845

Keywords

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Article

Jiang Guo, Yajin Liu, Xianglian Xu and Qijuan Chen

The purpose of this paper is to obtain the characteristic parameters of dynamic trend for hydro turbine governors, and take these as the inputs of the neural network to…

Abstract

Purpose

The purpose of this paper is to obtain the characteristic parameters of dynamic trend for hydro turbine governors, and take these as the inputs of the neural network to realize the diagnosis of the system.

Design/methodology/approach

Computer simulation technique has become an important tool in the science research and development. Because of the different degree defaults of the traditional modeling method, a distributed bond graph modeling (BGD) method is presented in this paper. Fault diagnosis and identification have been widely developed in recent years, while many kinds of diagnosis methods have been used in this area. Since it is difficult to get the characteristic parameters of dynamic trend, a new methodology is proposed which integrates BGD and neural network. It gets the characteristic parameters by simulation to the system, and takes these as the inputs of the neural network to realize the diagnosis of the system.

Findings

The paper presents the need for application of two models – conventional procedure and bond graph model approaches.

Practical implications

The paper is a very useful diagnosis tool for operators.

Originality/value

A new methodology is proposed which integrates BGD and neural network. The paper is aimed at operational researches and engineers, the results from simulations are reported and commented in the paper.

Details

Kybernetes, vol. 39 no. 6
Type: Research Article
ISSN: 0368-492X

Keywords

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Article

Yeeun Kwon, Jaecheol Park and Jai-Yeol Son

Over-the-top (OTT) services, which provide streaming media through all devices in online setting, have surpassed the traditional content providers in the market. However…

Abstract

Purpose

Over-the-top (OTT) services, which provide streaming media through all devices in online setting, have surpassed the traditional content providers in the market. However, there is still no clear empirical evidence that indicates what recommendation agent values affect the users' search experience while using the OTT services and how it leads to continuous subscription. To address this gap, this study aims to examine recommendation agent values influencing search experience, which in turn affects decision satisfaction and continuance intention.

Design/methodology/approach

This study empirically develops and tests a research model with data obtained from 212 survey respondents in Korea. Structural equation modeling with partial least square approach was used to analyze the data.

Findings

(1) Recommendation agent variables such as match score accuracy, recommended content variety and thumbnail image appeal affect search experience variables such as perceived diagnosticity and perceived serendipity; (2) perceived diagnosticity and perceived serendipity of search experience increase decision satisfaction; and (3) decision satisfaction increases intention to continue to subscribe to OTT services.

Originality/value

Despite the widespread use of recommendation agents in OTT services, limited attention has been paid to understand what specific values of recommendation agents lead subscribers to continue their subscription. The findings of this study clarify subscribers' continuous subscription behavior in OTT services in terms of the recommendation agent values and search experience perspective.

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Article

Xinjie Zhang, Fansen Kong, Zhiyuan Gu and Xiao Shen

FOV splicing optical remote sensing instruments have a strict requirement for the focal length consistency of the lens. In conventional optical-mechanical structure…

Abstract

Purpose

FOV splicing optical remote sensing instruments have a strict requirement for the focal length consistency of the lens. In conventional optical-mechanical structure design, each optical element is equally distributed with high accuracy and everyone must have a high machining and assembly accuracy. For optical remote sensors with a large number of optical elements, this design brings great difficulties to lens manufacture and alignment.

Design/methodology/approach

Taking the relay lens in an optical remote sensing instrument with the field of view splicing as an example, errors of the system are redistributed to optical elements. Two optical elements, which have the greatest influence on modulation transfer function (MTF) of the system are mounted with high accuracy centering and the other elements are fixed by gland ring with common machining accuracy. The reduction ratio consistency difference among lenses is compensated by adjusting the optical spacing between the two elements.

Findings

Based on optical system simulation analysis, the optimized structure can compensate for the difference of reduction ratio among lens by grinding the washer thickness in the range of ±0.37 mm. The test data for the image quality of the lens show that the MTF value declined 0.043 within ±0.4 mm of space change between two barrels. The results indicate that the reduction ratio can be corrected by adjusting the washer thickness and the image quality will not obviously decline.

Originality/value

This paper confirms that this work is original and has not been published elsewhere nor is it currently under consideration for publication elsewhere. In this paper, the optimum structural design of the reduction relay lens for the field of view stitching applications is reported. The method of adjusting washer thickness is applied to compensate for the reduction ratio consistency difference of lenses. The optimized structure also greatly reduces the difficulty of lenses manufacture, alignment and improves the efficiency of assembly.

Details

Sensor Review, vol. 41 no. 1
Type: Research Article
ISSN: 0260-2288

Keywords

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Book part

Mike W. Peng and Yi Jiang

Since institutions are typically conceptualized as “the rules of the game in a society” (North 1990: 3; Scott 1995), “institutional transitions” are defined as…

Abstract

Since institutions are typically conceptualized as “the rules of the game in a society” (North 1990: 3; Scott 1995), “institutional transitions” are defined as “fundamental and comprehensive changes introduced to the formal and informal rules of the game” (Peng 2003: 275). One of the most dramatic sets of institutional transitions in the last two decades has been the political, economic, and social changes sweeping across Central and Eastern Europe (CEE), the newly independent states (NIS) of the former Soviet Union, and the East Asian countries of China and Vietnam. In fact, these institutional transitions are so profound that these countries, formerly known as the Eastern bloc, have now been collectively labeled “transition economies.”

Details

Entrepreneurship
Type: Book
ISBN: 978-0-76231-191-0

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