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Using a sample of 9,898 firm-year observations from 1,821 unique Chinese listed firms over the period from 2004 to 2019, this study aims to investigate whether the market rewards meeting or beating analyst earnings expectations (MBE).

The authors use an event study methodology to capture market reactions to MBE.

The authors document a stock return premium for beating analyst forecasts by a wide margin. However, there is no stock return premium for firms that meet or just beat analyst forecasts, suggesting that the market is skeptical of earnings management by these firms. This market underreaction is more pronounced for firms with weak external monitoring. Further analysis shows that meeting or just beating analyst forecasts is indicative of superior future financial performance. The authors do not find firms using earnings management to meet or just beat analyst forecasts.

The authors provide evidence of market underreaction to meeting or just beating analyst forecasts, with the market's over-skepticism of earnings management being a plausible mechanism for this phenomenon.

The findings of this study are informative to researchers, market participants and regulators concerned about the impact of analysts and earnings management and interested in detecting and constraining managers' earnings management.

The authors provide new insights into how the market reacts to MBE by showing that the market appears to focus on using meeting or just beating analyst forecasts as an indicator of earnings management, while it does not detect managed MBE. Meeting or just beating analyst forecasts is commonly used as a proxy for earnings management in the literature. However, the findings suggest that it is a noisy proxy for earnings management.

Through the lens of self-perception theory, this paper investigates how avatar design (i.e. avatar user similarity) affects users' self-awareness and shapes their task engagement and performance in the Metaverse.

The authors conducted a 2 (avatar user similarity: high vs low) × 2 (task type: procedural vs creative) lab experiment and collected data from questionnaires, the recording of users' behavior during tasks and their actual task performance.

The results show that higher avatar user similarity leads to higher task engagement in general. Furthermore, while a similar avatar promotes users to regulate their behaviors and achieve better performance in a procedural task, high similarity also inhibits users' creativity by invoking habitual thinking, resulting in worse performance in generating original ideas in a creative task.

This study is expected to contribute to the information systems literature by revealing the value of avatar design and providing new perspectives on improving users' experiences in the Metaverse.

The aim of this paper is to provide additional insights on the association between real earnings management (REM) and crash risk, particularly from the perspective of an emerging market economy. It also examines the moderation role that internal and external corporate governance may play in this area.

Relying on archival data from the RESSET and CSMAR databases over a timeframe from 2010 to 2018 of China listed company, the authors test the hypotheses by regressing common measures of crash risk on the treatment variable (REM) and crash risk control variables identified in the prior crash risk literature. The authors also introduce monitoring proxies (internal controls as an internal governance and institutional ownership as an external governance) and assess how effective internal and external governance moderate the relation between REM and stock price crash risk.

The results suggest firms with higher REM have a significantly greater stock price crash risk, and that this association is mitigated by external monitoring. That is, greater institutional ownership, particularly pressure insensitive owners, mitigates the impact of REM on stock price crash risk. However, internal control does not mitigate the association between REM and stock price crash risk.

Following the passage of the Sarbanes–Oxley (SOX) Act, prior research has documented an increase in the use of REM and a positive association between REM and cash risk. The authors demonstrate that they persist in one of the largest emerging markets where institutional regulations, market conditions and corporate behaviors are different from those in developed markets. Also, the assessment of the moderation effect of internal and external governance mechanisms could have meaningful implications for investors and regulators in Chinese and other emerging markets.

To examine whether and how the different levels of regional economic incentives would have an effect on underwriters' market share in general.

Drawing on Chinese IPO firms during the period 2006-2016, this study examines the impact of different levels of regional economic incentives on underwriters' market share.

The authors find that regional economic incentives have a positive impact on underwriters' market share and that local economic incentives have a significantly stronger impact than central economic incentives. Furthermore, the authors find that IPO firms with underwriters driven by regional economic incentives experience worse post-IPO performance than firms with underwriters driven by central economic incentives, which do not experience a significant decline in post-IPO performance.

Taken together, the authors’ findings are consistent with the notion that performance assessment motivates officials at various levels of government to bring companies in their jurisdiction to the IPO market prematurely. In addition, the results indicate that central economic incentives play a significant role in driving China's macroeconomic development and market-oriented system reforms. As such, they are one of the major driving forces behind China's market-oriented system reforms.

This papers aims to study lattice structures in terms of geometric variables, manufacturing variables and material-based variants and their correlation with compressive behaviour for their application in a methodology for the design and development of personalized elastic therapeutic products.

Lattice samples were designed and manufactured using extrusion-based additive manufacturing technologies. Mechanical tests were carried out on lattice samples for elasticity characterization purposes. The relationships between sample stiffness and key geometric and manufacturing variables were subsequently used in the case study on the design of a pressure cushion model for validation purposes. Differentiated areas were established according to patient’s pressure map to subsequently make a correlation between the patient’s pressure needs and lattice samples stiffness.

A substantial and wide variation in lattice compressive behaviour was found depending on the key study variables. The proposed methodology made it possible to efficiently identify and adjust the pressure of the different areas of the product to adapt them to the elastic needs of the patient. In this sense, the characterization lattice samples turned out to provide an effective and flexible response to the pressure requirements.

This study provides a generalized foundation of lattice structural design and adjustable stiffness in application of pressure cushions, which can be equally applied to other designs with similar purposes. The relevance and contribution of this work lie in the proposed methodology for the design of personalized therapeutic products based on the use of individual lattice structures that function as independent customizable cells.

Preservice teacher (PST) professional development programs are crucial for cultivating high-quality STEAM teachers of the future, significantly impacting the quality of regional STEAM education. The Guangdong-Hong Kong-Macao Greater Bay Area, as a region of cross-border cooperation, integrates the resources and advantages of Guangdong, Hong Kong, and Macao, possessing rich cultural heritage and innovative capabilities. Transdisciplinary Education for Cultural Inheritance (C-STEAM) is an effective approach to promoting educational collaboration within the Greater Bay Area, facilitating the integration of both technological and humanities education. This study aims to develop a Technology-Enabled University-School-Enterprise (T-USE) collaborative education model and implement it in the Greater Bay Area, to explore its role as a support mechanism in professional development and its impact on C-STEAM PSTs' professional capital.

Adopting a qualitative methodology, the study interviewed PSTs who participated in a C-STEAM teacher education course under the T-USE model. Thematic coding is used to analyze their knowledge acquisition, interaction benefits with community members, and autonomous thinking and decision-making in theoretical learning and teaching practice.

The findings show that the T-USE model significantly enhanced the PSTs' human capital, including teaching beliefs, knowledge, and skills. In terms of social capital, PSTs benefited from collaboration with PST groups, university teaching teams, in-service teachers, and enterprises, though challenges such as varying levels of expertise among in-service teachers and occasional technical instability emerged. For decisional capital, the T-USE model provided opportunities for autonomous thinking and promoted teaching judgment skills through real teaching challenges and scenarios. Reflective practice activities also supported PSTs' professional growth.

This study reveals the effectiveness and internal mechanism of the T-USE model in C-STEAM PST training, offering significant theoretical and practical references for future PST education.

This paper aims to design an active shock absorber scheme for use in conjunction with a passive shock absorber to suppress the horizontal vibration of elevator cars in a smaller range and shorter time. The developed active shock absorber will also improve the safety and comfort of passengers driving in ultra-high-speed elevators.

A six-degree of freedom dynamic model is established according to the position and condition of the car. Then the active shock absorber and disturbance compensation-based adaptive control scheme are designed and simulated in MATLAB/Simulink. The results are analysed and compared with the traditional shock absorber.

The results show that, compared with traditional spring-based passive damping systems, the designed active shock absorber can reduce vibration displacement by 60%, peak acceleration by 50% and oscillation time by 2/3 and is more robust to different spring stiffness, damping coefficient and load.

The developed active shock absorber and its control algorithm can significantly reduce vibration amplitude and converged time. It can also adjust the damping strength according to the actual load of the elevator car, which is more suitable for high-speed elevators.

The purpose of this paper is to examine the impacts of farmland renting-in on planted grain acreage.

A survey data of five counties were analyzed with the two-stage ordinary least squares model.

Households renting-in land trended to plant more maize, and the more land was rented by a household the more maize was planted, while wheat acreage showed non-response to farmland renting-in.

Overall, the analysis suggests that policy makers should be prepared for different changing trends of grain crop acreage across the nation as farmland transfer continues. Future research should pay attention to the effect of farmland transfer on agricultural productivity and rural household income growth.

As the Chinese Government is promoting larger-scale and more mechanized farms as a way of protecting grain security, it is important to understand whether farmland renting-in will reduce planted grain acreage. This study provides empirical evidence showing the answer to that question may differ across different regions and depend on the particular grain crop in question.