Objective The aim of this study was to develop and validate a rapid psychosocial well-being screening tool for metastatic breast cancer patients(MBC-PsySoc-Well-being).Methods Applying a mixed method approach,the stud...Objective The aim of this study was to develop and validate a rapid psychosocial well-being screening tool for metastatic breast cancer patients(MBC-PsySoc-Well-being).Methods Applying a mixed method approach,the study was conducted in two phases.Phase 1,a focus group method was employed for item development,and three focus group sessions were conducted,with patients,caregivers,and medical professionals,respectively.Phase 2,validity and reliability testing were performed.Five experts reviewed items for content validity.Construct validity,criterion-related validity,internal consistency,and test-retest reliability were conducted among a sample of 53 patients with metastatic breast cancer.Results Six themes were qualitatively analyzed based on focus group participants’responses.Eight items were then developed based on these themes.The index of Item-Objective Congruence scored by the experts ranged from 0.6 to 1.0.An exploratory factor analysis yielded three factors:Being curious and active in information seeking,Enthusiasm to return to a normal life,and Adjusting to positive lifestyle.The total scores of MBC-PsySoc-Well-being and the European Organization for Research and Treatment of Cancer’s Quality of Life Core Questionnaire(EORTC QLQ-C30)were moderately correlated(r=0.404,P=0.003).Cronbach’sαcoefficient of the overall scale was 0.686.Pearson correlation coefficients of items between two tests within 14-day ranged from 0.410 to 0.673.Conclusion This study represents an initiative to develop a rapid psychosocial well-being screening tool for patients with metastatic breast cancer.The results from validity and reliability testing indicate that the scale is moderately suitable for application to patients with metastatic breast cancer.However,a larger scale study should be further administered to confirm the validity and reliability of the measurement.展开更多
Over the past decade the world banking industry has grown significantly and this has led to increasing sophistication and complexity in its practices.The industry has been affected by changes in the way in which it is...Over the past decade the world banking industry has grown significantly and this has led to increasing sophistication and complexity in its practices.The industry has been affected by changes in the way in which it is regulated and supervised,by changes in the nature of its products,by the way in which individual bank manages its own affairs and controls its assets and by the way in which it accounts to the outside world for its activities.These changes have probably been of more significance than those experienced in any other industry over the past few years.Hong Kong which is one of the foremost financial centres of the world,has experienced all of these changes,probably to a greater extent than most other parts of the world.Hong Kong is one of the world’s major international banking centres and has a thriving domestic banking community.There is a need to review our banking practices and their accounting and auditing implications.The BCCI and BCCHK events happened in mid—1991 should trigger us to further reassess the role of auditor(both external and internal)in this ever changing and fast moving industry in co—operation with local authorities such as the Banking Commission,Department of Monetary Affairs and Security Commission.A number of investigations and articles on the role of bank auditors have been done and written,these include the study of challenges faced by bank auditors in today’s environment (Seidman,1987),the examination of the changing role of the bank audit committee(Haugh and Bradley,1987)and new risks faced by bank auditors (Clark,1987).In this paper,we will try to identify some of the common problems which might have caused the banking crisis.We will examine the role of auditor and try to establish the responsibilities of auditor when performing an audit task in a banking environment with the view to reducing the chance of the crisis happening again,if not eliminated completely.The regulatory body will still be the Banking Commission,while auditor will assume a supporting role in the banking monitoring and reguatory functions.展开更多
Socially-responsible business and ethical behavior of companies have been of interest to academia and practice for decades, but the focus has almost exclusively been on large corporations, while small and medium-sized...Socially-responsible business and ethical behavior of companies have been of interest to academia and practice for decades, but the focus has almost exclusively been on large corporations, while small and medium-sized enterprises (SMEs) have not received as much attention (Hammann, et al., 2009). Worthington, et al (2006) recognized the need to encourage socially-responsible business practices among the 90 per cent or more of the world's businesses that are classified as SMEs. Perrini, et al (2007) found that size explains the differences in firms' willingness to define and implement such specific corporate social responsibility (CSR) strategies, while Murillo and Lozano (2006) concluded that it still remains to be explored whether manufacturing companies tend to apply CSR more extensively, or whether businesses oriented to other business have a tendency to incorporate CSR into their management patterns to a higher degree. Moreover, President Gloria Macapagal-Arroyo, in her 7 June, 2002 speech, recognized the importance of Chinese-Filipinos in helping improve the Philippine economy, and yet, not much research had been done on this sub-sector. Thus, this paper focuses on the effect of finn size and finn activities on the social responsibility practices of selected 30 micro, small and medium-sized enterprises (MSMEs) in Metro Manila which are owned by Chinese-Filipinos. Survey questionnaires and interview were used for gathering data, while a correlations test was used to analyze the data and to conclude whether finn size and finn activities have an effect on the sampled companies' CSR practices.展开更多
The paper addresses the question of optimal development of a developing economy. The framework presented, it is believed, can be of help in thinking about policies relating, inter alia, to population growth, inter-sec...The paper addresses the question of optimal development of a developing economy. The framework presented, it is believed, can be of help in thinking about policies relating, inter alia, to population growth, inter-sectoral migration, agriculture-industry relationship, wages in different sectors, and income distribution in an inter-connected way in the context of optimal development of an economy with an informal sector.展开更多
This study attempts to investigate if and how students' perceptions regarding the first accounting course related with the selection of accounting as a major. Moreover, it examines students' initial perceptions and ...This study attempts to investigate if and how students' perceptions regarding the first accounting course related with the selection of accounting as a major. Moreover, it examines students' initial perceptions and course performance regarding the introductory accounting course. Participants in this study were 120 students from Technological Educational Institute of Kavala, School of Business and Economics (3 departments), who were asked to complete a survey instrument. The instrument used eleven statements regarding students' perceptions (such as difficulty and motivation of the course) of the first accounting course. The main factors affect students' decisions to follow accounting and seem to be similar with other researchers' findings (Geiger & Ogilby, 2000). Future research could be used larger sample from different countries and the survey could also be used for a longer time period.展开更多
This study ascertained the effect of corporate governance compositions on timeliness of financial reporting in deposit money banks in Nigeria.Ex Post Facto research design was employed for this study.Purposive samplin...This study ascertained the effect of corporate governance compositions on timeliness of financial reporting in deposit money banks in Nigeria.Ex Post Facto research design was employed for this study.Purposive sampling was used to select eight(8)deposit money banks in Nigeria with international authorization.Data were extracted from annual reports and accounts of the sampled banks and analyzed with regression analysis.The results show that board size has a positive and significant effect on financial reporting timeliness deposit money banks in Nigeria,while audit committee independence has a positive but insignificant effect on financial reporting timeliness of deposit money banks in Nigeria.Therefore,on the basis of the findings and conclusions of the study,the study recommends among other things that the number of banks board of directors should play a vital role in how well it can oversee daily operations of the institution and monitor management.展开更多
This study looked at the impact of the Nigerian stamp duty tax on the growth of the economy.Time series data were employed spanning the years 1999-2020.For various years,related data were extracted from the Central Ba...This study looked at the impact of the Nigerian stamp duty tax on the growth of the economy.Time series data were employed spanning the years 1999-2020.For various years,related data were extracted from the Central Bank of Nigeria Statistical Bulletin,the Bureau of National Statistics,and Federal Inland Revenue Service reports.E-view 9.0 was used to test the hypothesis using the ordinary least square.The study outcome revealed that stamp duty has an insignificant and positive impact on Nigeria’s economic growth.It was recommended that the government improve public entities and provide strong government investment as a source of domestic revenue generated from various business activities.展开更多
This research work determined the impact of value relevance of accounting information on the stock price of manufacturing companies in Nigeria.More specifically,the study determines the impact of earnings per share an...This research work determined the impact of value relevance of accounting information on the stock price of manufacturing companies in Nigeria.More specifically,the study determines the impact of earnings per share and dividends on the stock price of Nigerian manufacturing companies.Ex post facto research and data were obtained from twenty audited annual reports and financial statements.This study used the ordinary least squares(OLS)estimation from 2012 to 2021 and covered ten years with the help of E-view 9.0 data analysis revealed that there is a positive insignificant relationship between stock dividends,earnings per share and stock price in the manufacturing sector in Nigeria.展开更多
Overconfidence behavior,one form of positive illusion,has drawn considerable attention throughout history because it is viewed as the main reason for many crises.Investors’overconfidence,which can be observed as over...Overconfidence behavior,one form of positive illusion,has drawn considerable attention throughout history because it is viewed as the main reason for many crises.Investors’overconfidence,which can be observed as overtrading following positive returns,may lead to inefficiencies in stock markets.To the best of our knowledge,this is the first study to examine the presence of investor overconfidence by employing an artificial intelligence technique and a nonlinear approach to impulse responses to analyze the impact of different return regimes on the overconfidence attitude.We examine whether investors in an emerging stock market(Borsa Istanbul)exhibit overconfidence behavior using a feed-forward,neural network,nonlinear Granger causality test and nonlinear impulseresponse functions based on local projections.These are the first applications in the relevant literature due to the novelty of these models in forecasting high-dimensional,multivariate time series.The results obtained from distinguishing between the different market regimes to analyze the responses of trading volume to return shocks contradict those in the literature,which is the key contribution of the study.The empirical findings imply that overconfidence behavior exhibits asymmetries in different return regimes and is persistent during the 20-day forecasting horizon.Overconfidence is more persistent in the low-than in the high-return regime.In the negative interest-rate period,a high-return regime induces overconfidence behavior,whereas in the positive interest-rate period,a low-return regime induces overconfidence behavior.Based on the empirical findings,investors should be aware that portfolio gains may result in losses depending on aggressive and excessive trading strategies,particularly in low-return regimes.展开更多
The COVID-19 pandemic is a virus that has disastrous effects onhuman lives globally;still spreading like wildfire causing huge losses to humanityand economies. There is a need to follow few constraints like social dis...The COVID-19 pandemic is a virus that has disastrous effects onhuman lives globally;still spreading like wildfire causing huge losses to humanityand economies. There is a need to follow few constraints like social distancingnorms, personal hygiene, and masking up to effectively control the virus spread.The proposal is to detect the face frame and confirm the faces are properly covered with masks. By applying the concepts of Deep learning, the results obtainedfor mask detection are found to be effective. The system is trained using4500 images to accurately judge and justify its accuracy. The aim is to developan algorithm to automatically detect a mask, but the approach does not facilitatethe percentage of improper usage. Accuracy levels are as low as 50% if the maskis improperly covered and an alert is raised for improper placement. It can be usedat traffic places and social gatherings for the prevention of virus transmission. Itworks by first locating the region of interest by creating a frame boundary, thenfacial points are picked up to detect and concentrate on specific features. Thetraining on the input images is performed using different epochs until the artificialface mask detection dataset is created. The system is implemented using TensorFlow with OpenCV and Python using a Jupyter Notebook simulation environment. The training dataset used is collected from a set of diverse open-sourcedatasets with filtered images available at Kaggle Medical Mask Dataset by Mikolaj Witkowski, Kera, and Prajna Bhandary. To simulate MobilNetV2 classifier isused to load and pre-process the image dataset for building a fully connectedhead. The objective is to assess the accuracy of the identification, measuringthe efficiency and effectiveness of algorithms for precision, recall, and F1 score.展开更多
Today’s economic growth is not promising without air transport, up-to-date airports infrastructure, efficient and safe airline services and international air transport networks. According to WB [1], 40% of the world-...Today’s economic growth is not promising without air transport, up-to-date airports infrastructure, efficient and safe airline services and international air transport networks. According to WB [1], 40% of the world-wide tourists travel by air transport. The main aim of this study is to analyze the literatures of air transport and economic growth study. A systematic literature review (SLR) method was used in order to examine related articles from ABDC list journals which are ranked on A*, A or B, published in period 1992-2018. This study gives a summary of the trends and research themes which have been identified. Key scholars, as well as their approaches and locations and citations are also mapped. The findings of this study show that there is a growing interest in researching and publishing on Air transportation and economic growth. This study fills a deficiency in specialized literature concerning air transportation in developing countries and provides a foundation for future research in the field of air transportation.展开更多
The study determine the effect of CEO duality on the effective tax rate of quoted foods and Beverage companies.Ex-post facto research design was adopted.A purposive sampling technique was applied in selecting nine(9)c...The study determine the effect of CEO duality on the effective tax rate of quoted foods and Beverage companies.Ex-post facto research design was adopted.A purposive sampling technique was applied in selecting nine(9)companies during the data collection process.Data were collected from annual reports and accounts of the sampled companies from 2013-2019.Data for the study analyzed using descriptive statistics and regression was used with aid of the e-view was at 95%confidence at five degrees of freedom(df).The result shows that CEO duality was significant and had a positive coefficient on tax planning of food and beverage companies in Nigeria.The study,therefore recommended that non-separation of CEO from Chairman of the Board may lead to higher levels of tax planning;and an opportunity for manager’s rent extraction,because of their dominating role to ensure that adequate oversight roles are separated.展开更多
When there is high information asymmetry between directors and managers,independent directors do not have enough information to perform their functions. Only when faced with a good internal information environment can...When there is high information asymmetry between directors and managers,independent directors do not have enough information to perform their functions. Only when faced with a good internal information environment can such directors acquire enough information to provide advice and monitor managers,and only under these conditions can increasing their proportion on the board effectively reduce agency problems, such as driving managers to disclose information to investors. Using a sample of Chinese listed firms that voluntarily disclose their auditors' reports on internal controls from 2007 to 2009, this study explores how the information acquisition costs of independent directors affect their monitoring effectiveness by investigating the disclosure decisions of their internal control audits. We find that when the information asymmetry between insiders and outside directors is low and the proportion of independent directors on a board is high, a firm is more likely to voluntarily disclose its internal control audit report.展开更多
We examine the association between auditor choice and the accruals patterns of Chinese listed firms that cross-list in Hong Kong.Our evidence suggests that the clients of Big 4 auditors report lower unsigned discretio...We examine the association between auditor choice and the accruals patterns of Chinese listed firms that cross-list in Hong Kong.Our evidence suggests that the clients of Big 4 auditors report lower unsigned discretionary accruals relative to the clients of non-Big 4 auditors.Further,we find that cross-listed firms with non-Big 4 auditors are more likely to understate their earnings and experience larger reversals of accruals in the future than cross-listed firms with Big 4 auditors.These findings suggest that Big 4 auditors play a meaningful role in improving earnings quality for cross-listed firms,which helps to explain why crosslisted firms have higher earnings quality than their domestic counterparts,as documented in the previous literature.展开更多
We construct a new measure to capture corporate political connections, which is based on the amount a corporation spends on socializing with government officials. We examine the validity of this measure using the exog...We construct a new measure to capture corporate political connections, which is based on the amount a corporation spends on socializing with government officials. We examine the validity of this measure using the exogenous turnover of top local officials and find that firms increase their political networking expenditures when top local officials are replaced. Compared to state-owned enterprises(SOEs), non-state-owned enterprises(non-SOEs) react more aggressively to changes in local officials, which implies that non-SOEs have stronger incentives to build political connections with officials through social intercourse. We also find that firms located in regions with low levels of marketization react more aggressively to the turnover of local politicians. In addition, we find a positive effect of corporate political socializing expenditures on corporate performance and valuation, which suggests that political connections built through social intercourse benefit corporations.展开更多
Utilizing CO_(2) in an electro-chemical process and synthesizing value-added chemicals are amongst the few viable and scalable pathways in carbon capture and utilization technologies.CO_(2) electro-reduction is also c...Utilizing CO_(2) in an electro-chemical process and synthesizing value-added chemicals are amongst the few viable and scalable pathways in carbon capture and utilization technologies.CO_(2) electro-reduction is also counted as one of the main options entailing less fossil fuel consumption and as a future electrical energy storage strategy.The current study aims at developing a new electrochemical platform to produce low-carbon e-biofuel through multifunctional electrosynthesis and integrated co-valorisation of biomass feedstocks with captured CO_(2).In this approach,CO_(2) is reduced at the cathode to produce drop-in fuels(e.g.,methanol)while value-added chemicals(e.g.,selective oxidation of alcohols,aldehydes,carboxylic acids and amines/amides)are produced at the anode.In this work,a numerical model of a continuous-flow design considering various anodic and cathodic reactions was built to determine the most techno-economically feasible configurations from the aspects of energy efficiency,environment impact and economical values.The reactor design was then optimized via parametric analysis.展开更多
Running a social enterprise(SE) is more difficult than running a small or medium-sized enterprise because SEs have to achieve both economic sustainability as business enterprises and their social mission for the benef...Running a social enterprise(SE) is more difficult than running a small or medium-sized enterprise because SEs have to achieve both economic sustainability as business enterprises and their social mission for the benefit of society.After a few years of operation, many SEs fail or struggle for survival. In this study, we examine some of the factors that affect an SE’s profitability, financial management, and business planning and management. Based on in-depth interviews with 22 social enterprises in Hong Kong, we find that SEs with the dual investment objectives of social mission and financial return are more sustainable and competitive than SEs with social impact as their sole objective. Furthermore, SEs managed by non-owner managers have better financial planning and performance than those managed by owner managers. In addition, SEs with an oversight/advisory committee are more competitive and have better management practices than those without such a committee. Our findings have policy implications for government, SEs, funding bodies, and non-profit organizations to enhance and promote the development of the social enterprise sector.展开更多
After issuing the 1998 Accounting Standards, Chinese regulators implemented additional regulations in 2001 governing write-downs of impaired assets and required assessment of recoverable amounts for four additional as...After issuing the 1998 Accounting Standards, Chinese regulators implemented additional regulations in 2001 governing write-downs of impaired assets and required assessment of recoverable amounts for four additional asset categories. As the recoverable value cannot be obtained objectively, management can discretionally assess the magnitude of write-downs to affect bottom-line profit. This study used 7258 firm-year observations in China from 1998 to2005 to examine whether the percentage of asset write-downs by statecontrolled firms differs from non-state-controlled firms, conditional upon more conservative financial reporting rules, and investigate whether local auditors support managerial decisions on asset write-downs. The empirical findings support the tendency of state-controlled ownerships to have lower asset write-downs. Local auditors also support managerial decisions on asset write-downs, especially when the companies are controlled by local governments.展开更多
Whether proportionate consolidation(PC) or the equity method(EM) provides more informative financial statements is a controversial issue. This study uses data from listed companies in Hong Kong to investigate the valu...Whether proportionate consolidation(PC) or the equity method(EM) provides more informative financial statements is a controversial issue. This study uses data from listed companies in Hong Kong to investigate the value relevance of the EM compared with PC during 2005–2008 when the local wordfor-word equivalent HKAS 31 offered the same options. The results of this study provide evidence that PC does not offer higher value relevance than the EM. PC's horizontal aggregation of a portion of the operations, assets and liabilities of the jointly controlled entities with those of the venturer is less informative to investors than the EM's vertical aggregation.展开更多
In this study,we take a machine learning-based approach to measure institutional investor attention to corporate social responsibility(CSR)issues when communicating with firms during site visits.We find that instituti...In this study,we take a machine learning-based approach to measure institutional investor attention to corporate social responsibility(CSR)issues when communicating with firms during site visits.We find that institutional investors can effectively enhance CSR performance through CSR-related communication.This effect remains robust to various checks and is more pronounced for non-state-owned enterprises and firms with lower levels of institutional ownership and in periods following the issuance of Green Investment Guidelines.We also identify information asymmetry and financing constraints as the two mechanisms underlying this effect.Overall,our findings highlight the importance of private interactions between management and institutional investors in promoting CSR.展开更多
基金This study was financially supported by the 90th anniversary of Chulalongkorn University Fund(Ratchadaphiseksomphot Endow-ment Fund)partially supported by the Behavioral Research and Informatics in Social Science Research Unit,Chulalongkorn University,Thailand.
文摘Objective The aim of this study was to develop and validate a rapid psychosocial well-being screening tool for metastatic breast cancer patients(MBC-PsySoc-Well-being).Methods Applying a mixed method approach,the study was conducted in two phases.Phase 1,a focus group method was employed for item development,and three focus group sessions were conducted,with patients,caregivers,and medical professionals,respectively.Phase 2,validity and reliability testing were performed.Five experts reviewed items for content validity.Construct validity,criterion-related validity,internal consistency,and test-retest reliability were conducted among a sample of 53 patients with metastatic breast cancer.Results Six themes were qualitatively analyzed based on focus group participants’responses.Eight items were then developed based on these themes.The index of Item-Objective Congruence scored by the experts ranged from 0.6 to 1.0.An exploratory factor analysis yielded three factors:Being curious and active in information seeking,Enthusiasm to return to a normal life,and Adjusting to positive lifestyle.The total scores of MBC-PsySoc-Well-being and the European Organization for Research and Treatment of Cancer’s Quality of Life Core Questionnaire(EORTC QLQ-C30)were moderately correlated(r=0.404,P=0.003).Cronbach’sαcoefficient of the overall scale was 0.686.Pearson correlation coefficients of items between two tests within 14-day ranged from 0.410 to 0.673.Conclusion This study represents an initiative to develop a rapid psychosocial well-being screening tool for patients with metastatic breast cancer.The results from validity and reliability testing indicate that the scale is moderately suitable for application to patients with metastatic breast cancer.However,a larger scale study should be further administered to confirm the validity and reliability of the measurement.
文摘Over the past decade the world banking industry has grown significantly and this has led to increasing sophistication and complexity in its practices.The industry has been affected by changes in the way in which it is regulated and supervised,by changes in the nature of its products,by the way in which individual bank manages its own affairs and controls its assets and by the way in which it accounts to the outside world for its activities.These changes have probably been of more significance than those experienced in any other industry over the past few years.Hong Kong which is one of the foremost financial centres of the world,has experienced all of these changes,probably to a greater extent than most other parts of the world.Hong Kong is one of the world’s major international banking centres and has a thriving domestic banking community.There is a need to review our banking practices and their accounting and auditing implications.The BCCI and BCCHK events happened in mid—1991 should trigger us to further reassess the role of auditor(both external and internal)in this ever changing and fast moving industry in co—operation with local authorities such as the Banking Commission,Department of Monetary Affairs and Security Commission.A number of investigations and articles on the role of bank auditors have been done and written,these include the study of challenges faced by bank auditors in today’s environment (Seidman,1987),the examination of the changing role of the bank audit committee(Haugh and Bradley,1987)and new risks faced by bank auditors (Clark,1987).In this paper,we will try to identify some of the common problems which might have caused the banking crisis.We will examine the role of auditor and try to establish the responsibilities of auditor when performing an audit task in a banking environment with the view to reducing the chance of the crisis happening again,if not eliminated completely.The regulatory body will still be the Banking Commission,while auditor will assume a supporting role in the banking monitoring and reguatory functions.
文摘Socially-responsible business and ethical behavior of companies have been of interest to academia and practice for decades, but the focus has almost exclusively been on large corporations, while small and medium-sized enterprises (SMEs) have not received as much attention (Hammann, et al., 2009). Worthington, et al (2006) recognized the need to encourage socially-responsible business practices among the 90 per cent or more of the world's businesses that are classified as SMEs. Perrini, et al (2007) found that size explains the differences in firms' willingness to define and implement such specific corporate social responsibility (CSR) strategies, while Murillo and Lozano (2006) concluded that it still remains to be explored whether manufacturing companies tend to apply CSR more extensively, or whether businesses oriented to other business have a tendency to incorporate CSR into their management patterns to a higher degree. Moreover, President Gloria Macapagal-Arroyo, in her 7 June, 2002 speech, recognized the importance of Chinese-Filipinos in helping improve the Philippine economy, and yet, not much research had been done on this sub-sector. Thus, this paper focuses on the effect of finn size and finn activities on the social responsibility practices of selected 30 micro, small and medium-sized enterprises (MSMEs) in Metro Manila which are owned by Chinese-Filipinos. Survey questionnaires and interview were used for gathering data, while a correlations test was used to analyze the data and to conclude whether finn size and finn activities have an effect on the sampled companies' CSR practices.
文摘The paper addresses the question of optimal development of a developing economy. The framework presented, it is believed, can be of help in thinking about policies relating, inter alia, to population growth, inter-sectoral migration, agriculture-industry relationship, wages in different sectors, and income distribution in an inter-connected way in the context of optimal development of an economy with an informal sector.
文摘This study attempts to investigate if and how students' perceptions regarding the first accounting course related with the selection of accounting as a major. Moreover, it examines students' initial perceptions and course performance regarding the introductory accounting course. Participants in this study were 120 students from Technological Educational Institute of Kavala, School of Business and Economics (3 departments), who were asked to complete a survey instrument. The instrument used eleven statements regarding students' perceptions (such as difficulty and motivation of the course) of the first accounting course. The main factors affect students' decisions to follow accounting and seem to be similar with other researchers' findings (Geiger & Ogilby, 2000). Future research could be used larger sample from different countries and the survey could also be used for a longer time period.
文摘This study ascertained the effect of corporate governance compositions on timeliness of financial reporting in deposit money banks in Nigeria.Ex Post Facto research design was employed for this study.Purposive sampling was used to select eight(8)deposit money banks in Nigeria with international authorization.Data were extracted from annual reports and accounts of the sampled banks and analyzed with regression analysis.The results show that board size has a positive and significant effect on financial reporting timeliness deposit money banks in Nigeria,while audit committee independence has a positive but insignificant effect on financial reporting timeliness of deposit money banks in Nigeria.Therefore,on the basis of the findings and conclusions of the study,the study recommends among other things that the number of banks board of directors should play a vital role in how well it can oversee daily operations of the institution and monitor management.
文摘This study looked at the impact of the Nigerian stamp duty tax on the growth of the economy.Time series data were employed spanning the years 1999-2020.For various years,related data were extracted from the Central Bank of Nigeria Statistical Bulletin,the Bureau of National Statistics,and Federal Inland Revenue Service reports.E-view 9.0 was used to test the hypothesis using the ordinary least square.The study outcome revealed that stamp duty has an insignificant and positive impact on Nigeria’s economic growth.It was recommended that the government improve public entities and provide strong government investment as a source of domestic revenue generated from various business activities.
文摘This research work determined the impact of value relevance of accounting information on the stock price of manufacturing companies in Nigeria.More specifically,the study determines the impact of earnings per share and dividends on the stock price of Nigerian manufacturing companies.Ex post facto research and data were obtained from twenty audited annual reports and financial statements.This study used the ordinary least squares(OLS)estimation from 2012 to 2021 and covered ten years with the help of E-view 9.0 data analysis revealed that there is a positive insignificant relationship between stock dividends,earnings per share and stock price in the manufacturing sector in Nigeria.
基金support for the research,authorship,and/or publication of this article.
文摘Overconfidence behavior,one form of positive illusion,has drawn considerable attention throughout history because it is viewed as the main reason for many crises.Investors’overconfidence,which can be observed as overtrading following positive returns,may lead to inefficiencies in stock markets.To the best of our knowledge,this is the first study to examine the presence of investor overconfidence by employing an artificial intelligence technique and a nonlinear approach to impulse responses to analyze the impact of different return regimes on the overconfidence attitude.We examine whether investors in an emerging stock market(Borsa Istanbul)exhibit overconfidence behavior using a feed-forward,neural network,nonlinear Granger causality test and nonlinear impulseresponse functions based on local projections.These are the first applications in the relevant literature due to the novelty of these models in forecasting high-dimensional,multivariate time series.The results obtained from distinguishing between the different market regimes to analyze the responses of trading volume to return shocks contradict those in the literature,which is the key contribution of the study.The empirical findings imply that overconfidence behavior exhibits asymmetries in different return regimes and is persistent during the 20-day forecasting horizon.Overconfidence is more persistent in the low-than in the high-return regime.In the negative interest-rate period,a high-return regime induces overconfidence behavior,whereas in the positive interest-rate period,a low-return regime induces overconfidence behavior.Based on the empirical findings,investors should be aware that portfolio gains may result in losses depending on aggressive and excessive trading strategies,particularly in low-return regimes.
文摘The COVID-19 pandemic is a virus that has disastrous effects onhuman lives globally;still spreading like wildfire causing huge losses to humanityand economies. There is a need to follow few constraints like social distancingnorms, personal hygiene, and masking up to effectively control the virus spread.The proposal is to detect the face frame and confirm the faces are properly covered with masks. By applying the concepts of Deep learning, the results obtainedfor mask detection are found to be effective. The system is trained using4500 images to accurately judge and justify its accuracy. The aim is to developan algorithm to automatically detect a mask, but the approach does not facilitatethe percentage of improper usage. Accuracy levels are as low as 50% if the maskis improperly covered and an alert is raised for improper placement. It can be usedat traffic places and social gatherings for the prevention of virus transmission. Itworks by first locating the region of interest by creating a frame boundary, thenfacial points are picked up to detect and concentrate on specific features. Thetraining on the input images is performed using different epochs until the artificialface mask detection dataset is created. The system is implemented using TensorFlow with OpenCV and Python using a Jupyter Notebook simulation environment. The training dataset used is collected from a set of diverse open-sourcedatasets with filtered images available at Kaggle Medical Mask Dataset by Mikolaj Witkowski, Kera, and Prajna Bhandary. To simulate MobilNetV2 classifier isused to load and pre-process the image dataset for building a fully connectedhead. The objective is to assess the accuracy of the identification, measuringthe efficiency and effectiveness of algorithms for precision, recall, and F1 score.
文摘Today’s economic growth is not promising without air transport, up-to-date airports infrastructure, efficient and safe airline services and international air transport networks. According to WB [1], 40% of the world-wide tourists travel by air transport. The main aim of this study is to analyze the literatures of air transport and economic growth study. A systematic literature review (SLR) method was used in order to examine related articles from ABDC list journals which are ranked on A*, A or B, published in period 1992-2018. This study gives a summary of the trends and research themes which have been identified. Key scholars, as well as their approaches and locations and citations are also mapped. The findings of this study show that there is a growing interest in researching and publishing on Air transportation and economic growth. This study fills a deficiency in specialized literature concerning air transportation in developing countries and provides a foundation for future research in the field of air transportation.
文摘The study determine the effect of CEO duality on the effective tax rate of quoted foods and Beverage companies.Ex-post facto research design was adopted.A purposive sampling technique was applied in selecting nine(9)companies during the data collection process.Data were collected from annual reports and accounts of the sampled companies from 2013-2019.Data for the study analyzed using descriptive statistics and regression was used with aid of the e-view was at 95%confidence at five degrees of freedom(df).The result shows that CEO duality was significant and had a positive coefficient on tax planning of food and beverage companies in Nigeria.The study,therefore recommended that non-separation of CEO from Chairman of the Board may lead to higher levels of tax planning;and an opportunity for manager’s rent extraction,because of their dominating role to ensure that adequate oversight roles are separated.
基金the China National Natural Science Foundation "Internal Control of Listed Companies and Investors Protection" (Project No. 70972076)Humanities Social Science Foundation of the Ministry of Education "Internal Control, Overinvestmentand Financial Crisis" (Project No. 09YJA790199)+2 种基金The Key Research Institutions of Humanities and Social Science Foundation of Guangdong Province "Internal Control and Value Creation–An Empirical Study Based on China’s Capital Market"(Project No. 11JDXM79004)National Social Science Foundation Youth Project (Project No.10CGL041)Academic New Distinguished Scholar Prize 2011 for PhD candidates offered by the Ministry of Education (14000-3191033)
文摘When there is high information asymmetry between directors and managers,independent directors do not have enough information to perform their functions. Only when faced with a good internal information environment can such directors acquire enough information to provide advice and monitor managers,and only under these conditions can increasing their proportion on the board effectively reduce agency problems, such as driving managers to disclose information to investors. Using a sample of Chinese listed firms that voluntarily disclose their auditors' reports on internal controls from 2007 to 2009, this study explores how the information acquisition costs of independent directors affect their monitoring effectiveness by investigating the disclosure decisions of their internal control audits. We find that when the information asymmetry between insiders and outside directors is low and the proportion of independent directors on a board is high, a firm is more likely to voluntarily disclose its internal control audit report.
基金The National Natural Science Foundation of China supported this study(ProjectNos.70802067,71002026,and 70772080)
文摘We examine the association between auditor choice and the accruals patterns of Chinese listed firms that cross-list in Hong Kong.Our evidence suggests that the clients of Big 4 auditors report lower unsigned discretionary accruals relative to the clients of non-Big 4 auditors.Further,we find that cross-listed firms with non-Big 4 auditors are more likely to understate their earnings and experience larger reversals of accruals in the future than cross-listed firms with Big 4 auditors.These findings suggest that Big 4 auditors play a meaningful role in improving earnings quality for cross-listed firms,which helps to explain why crosslisted firms have higher earnings quality than their domestic counterparts,as documented in the previous literature.
基金Founded by Sun Yat-sen University and City University of Hong Kong
文摘We construct a new measure to capture corporate political connections, which is based on the amount a corporation spends on socializing with government officials. We examine the validity of this measure using the exogenous turnover of top local officials and find that firms increase their political networking expenditures when top local officials are replaced. Compared to state-owned enterprises(SOEs), non-state-owned enterprises(non-SOEs) react more aggressively to changes in local officials, which implies that non-SOEs have stronger incentives to build political connections with officials through social intercourse. We also find that firms located in regions with low levels of marketization react more aggressively to the turnover of local politicians. In addition, we find a positive effect of corporate political socializing expenditures on corporate performance and valuation, which suggests that political connections built through social intercourse benefit corporations.
基金This work is jointly supported by the UK Supergen Bioenergy Hub and the Department for Transport via grant number SGBHFF Feb20191.
文摘Utilizing CO_(2) in an electro-chemical process and synthesizing value-added chemicals are amongst the few viable and scalable pathways in carbon capture and utilization technologies.CO_(2) electro-reduction is also counted as one of the main options entailing less fossil fuel consumption and as a future electrical energy storage strategy.The current study aims at developing a new electrochemical platform to produce low-carbon e-biofuel through multifunctional electrosynthesis and integrated co-valorisation of biomass feedstocks with captured CO_(2).In this approach,CO_(2) is reduced at the cathode to produce drop-in fuels(e.g.,methanol)while value-added chemicals(e.g.,selective oxidation of alcohols,aldehydes,carboxylic acids and amines/amides)are produced at the anode.In this work,a numerical model of a continuous-flow design considering various anodic and cathodic reactions was built to determine the most techno-economically feasible configurations from the aspects of energy efficiency,environment impact and economical values.The reactor design was then optimized via parametric analysis.
基金fully supported by a grant from UGC Knowledge Transfer Earmarked Fund
文摘Running a social enterprise(SE) is more difficult than running a small or medium-sized enterprise because SEs have to achieve both economic sustainability as business enterprises and their social mission for the benefit of society.After a few years of operation, many SEs fail or struggle for survival. In this study, we examine some of the factors that affect an SE’s profitability, financial management, and business planning and management. Based on in-depth interviews with 22 social enterprises in Hong Kong, we find that SEs with the dual investment objectives of social mission and financial return are more sustainable and competitive than SEs with social impact as their sole objective. Furthermore, SEs managed by non-owner managers have better financial planning and performance than those managed by owner managers. In addition, SEs with an oversight/advisory committee are more competitive and have better management practices than those without such a committee. Our findings have policy implications for government, SEs, funding bodies, and non-profit organizations to enhance and promote the development of the social enterprise sector.
基金funded by grants from the Hong Kong Polytechnic University,Lingnan University,Hang Seng Management College and the Research Grants Council of the Hong Kong Special Administrative Region,China(Project No.UGC/IDS14/15)
文摘After issuing the 1998 Accounting Standards, Chinese regulators implemented additional regulations in 2001 governing write-downs of impaired assets and required assessment of recoverable amounts for four additional asset categories. As the recoverable value cannot be obtained objectively, management can discretionally assess the magnitude of write-downs to affect bottom-line profit. This study used 7258 firm-year observations in China from 1998 to2005 to examine whether the percentage of asset write-downs by statecontrolled firms differs from non-state-controlled firms, conditional upon more conservative financial reporting rules, and investigate whether local auditors support managerial decisions on asset write-downs. The empirical findings support the tendency of state-controlled ownerships to have lower asset write-downs. Local auditors also support managerial decisions on asset write-downs, especially when the companies are controlled by local governments.
基金the National Natural Science Foundation of China(project number:71790603,71302036,71332004)
文摘Whether proportionate consolidation(PC) or the equity method(EM) provides more informative financial statements is a controversial issue. This study uses data from listed companies in Hong Kong to investigate the value relevance of the EM compared with PC during 2005–2008 when the local wordfor-word equivalent HKAS 31 offered the same options. The results of this study provide evidence that PC does not offer higher value relevance than the EM. PC's horizontal aggregation of a portion of the operations, assets and liabilities of the jointly controlled entities with those of the venturer is less informative to investors than the EM's vertical aggregation.
基金supported by the Major Program of National Fund of Philosophy and Social Science of China(No.19ZDA105).
文摘In this study,we take a machine learning-based approach to measure institutional investor attention to corporate social responsibility(CSR)issues when communicating with firms during site visits.We find that institutional investors can effectively enhance CSR performance through CSR-related communication.This effect remains robust to various checks and is more pronounced for non-state-owned enterprises and firms with lower levels of institutional ownership and in periods following the issuance of Green Investment Guidelines.We also identify information asymmetry and financing constraints as the two mechanisms underlying this effect.Overall,our findings highlight the importance of private interactions between management and institutional investors in promoting CSR.