This study investigates how the mandatory adoption of International Financial Reporting Standards(IFRS) affects the contractual benefits of using accounting information to determine executive compensation in China. Af...This study investigates how the mandatory adoption of International Financial Reporting Standards(IFRS) affects the contractual benefits of using accounting information to determine executive compensation in China. After controlling for firm and corporate governance characteristics, we find strong evidence supporting the positive role of mandatory IFRS adoption on the accounting-based performance sensitivity of executive compensation. Subsample analysis suggests that improvements in accounting-based performance sensitivity after IFRS adoption differ across regions with various levels of institutional quality and across firms that are affected to a different extent by the adoption. Additional analysis supports the argument that the positive effects of IFRS adoption on the use of accounting performance in executive compensation are driven by the reduction in accounting conservatism associated with IFRS adoption.展开更多
ZnO has received tremendous attention for applications in photoelectrochemical water splitting, photocatalysis, and photovoltaic devices. However, the photoelectric conversion efficiency of ZnO is limited by the rapid...ZnO has received tremendous attention for applications in photoelectrochemical water splitting, photocatalysis, and photovoltaic devices. However, the photoelectric conversion efficiency of ZnO is limited by the rapid recombination of photoexcited electron-hole pairs and the wide band gap, which allows only a small fraction of the solar spectrum to be absorbed. Recently, substantial research efforts have aimed to increase the photoelectric conversion efficiency across the entire ultraviolet-visible （UV-vis） spectrum by coupling semiconductors such as ZnO with noble metal nanoparticles （NPs）. In this stud~ we compare the performance of a pure ZnO film and ZnO/Ag nanostructured films as photoelectrodes. We show that under broad-spectrum UV-vis illumination, the photocurrent generated in the ZnO/Ag three-dimensional （3D） nanostructured films increases 3.75 times relative to the photocurrent generated in the pure ZnO films. We attribute the high photocurrent to the electric-field enhancement associated with the localized surface plasmon resonance of the Ag NPs, which are present at a high density in the 3D nanostructured films, and to the creation of photoexcited hot electrons in Ag that are transferred to ZnO, promoting electron-hole pair separation. We propose a mechanism to explain the observed enhancement of the photoelectric conversion efficiency.展开更多
基金sponsored by the National Natural Science Foundation of China (Nos. 71072036, 71102134 and 71272012)the MOE Project for Key Research Institutes of Humanities and Social Science in Universities (No. 00JJD630006)
文摘This study investigates how the mandatory adoption of International Financial Reporting Standards(IFRS) affects the contractual benefits of using accounting information to determine executive compensation in China. After controlling for firm and corporate governance characteristics, we find strong evidence supporting the positive role of mandatory IFRS adoption on the accounting-based performance sensitivity of executive compensation. Subsample analysis suggests that improvements in accounting-based performance sensitivity after IFRS adoption differ across regions with various levels of institutional quality and across firms that are affected to a different extent by the adoption. Additional analysis supports the argument that the positive effects of IFRS adoption on the use of accounting performance in executive compensation are driven by the reduction in accounting conservatism associated with IFRS adoption.
文摘ZnO has received tremendous attention for applications in photoelectrochemical water splitting, photocatalysis, and photovoltaic devices. However, the photoelectric conversion efficiency of ZnO is limited by the rapid recombination of photoexcited electron-hole pairs and the wide band gap, which allows only a small fraction of the solar spectrum to be absorbed. Recently, substantial research efforts have aimed to increase the photoelectric conversion efficiency across the entire ultraviolet-visible （UV-vis） spectrum by coupling semiconductors such as ZnO with noble metal nanoparticles （NPs）. In this stud~ we compare the performance of a pure ZnO film and ZnO/Ag nanostructured films as photoelectrodes. We show that under broad-spectrum UV-vis illumination, the photocurrent generated in the ZnO/Ag three-dimensional （3D） nanostructured films increases 3.75 times relative to the photocurrent generated in the pure ZnO films. We attribute the high photocurrent to the electric-field enhancement associated with the localized surface plasmon resonance of the Ag NPs, which are present at a high density in the 3D nanostructured films, and to the creation of photoexcited hot electrons in Ag that are transferred to ZnO, promoting electron-hole pair separation. We propose a mechanism to explain the observed enhancement of the photoelectric conversion efficiency.
