An Empirical Studyon the Impact of Corporate Social ResponsibilityInformation Disclosure on EquityCapital Cost

Taking public companies of Shenzhen A-share as samples,the paper analyses the impact of CSR disclosure on the cost of equity capital and the differences in various disclosure ways.The empirical results show that:the CSR disclosure has negative correlation with the cost of equity capital,and different ways of disclosure are not relative to the cost of equity capital.Corporate social responsibility information disclosure plays a critical role in the company's management.

Establishing minimum clinically important difference values for the Patient-Reported Outcomes Measurement Information System Physical Function, hip disability and osteoarthritis outcome score for joint reconstruction, and knee injury and osteoarthritis out

AIM To establish minimum clinically important difference(MCID) for measurements in an orthopaedic patient population with joint disorders.METHODS Adult patients aged 18 years and older seeking care for joint conditions at an orthopaedic clinic took the Patient-Reported Outcomes Measurement Information System Physical Function(PROMIS~? PF) computerized adaptive test(CAT), hip disability and osteoarthritis outcome score for joint reconstruction(HOOS JR), and the knee injury and osteoarthritis outcome score for joint reconstruction(KOOS JR) from February 2014 to April 2017. MCIDs were calculated using anchorbased and distribution-based methods. Patient reports of meaningful change in function since their first clinic encounter were used as an anchor.RESULTS There were 2226 patients who participated with a mean age of 61.16(SD = 12.84) years, 41.6% male, and 89.7% Caucasian. Mean change ranged from 7.29 to 8.41 for the PROMIS~? PF CAT, from 14.81 to 19.68 for the HOOS JR, and from 14.51 to 18.85 for the KOOS JR. ROC cut-offs ranged from 1.97-8.18 for the PF CAT, 6.33-43.36 for the HOOS JR, and 2.21-8.16 for the KOOS JR. Distribution-based methods estimated MCID values ranging from 2.45 to 21.55 for the PROMIS~? PF CAT; from 3.90 to 43.61 for the HOOS JR, and from 3.98 to 40.67 for the KOOS JR. The median MCID value in the range was similar to the mean change score for each measure and was 7.9 for the PF CAT, 18.0 for the HOOS JR, and 15.1 for the KOOS JR.CONCLUSION This is the first comprehensive study providing a wide range of MCIDs for the PROMIS? PF, HOOS JR, and KOOS JR in orthopaedic patients with joint ailments.

Challenges and New Directions of Information Accessibility for Persons with Disabilities in China: From the Perspective of the Convention on the Rights of Persons with Disabilities

Accessibility is the basis and prerequisite for persons with disabilities to enjoy and exercise all human rights and fundamental freedoms With the rapid development of the internet, providing and promoting information accessibility is considered an important obligation for the State In the process of transforming international human rights law into domestic law, how to deal with the human rights protection of persons with disabilities and the obligations of the private sector to ensure persons with disabilities receive services and products that meet the requirements and principles of information accessibility has become a development issue in the new era Against the backdrop of the Convention on the Rights of Persons with Disabilities and in the context of the booming development of the cause of persons with disabilities in China, legal scholars, persons with disabilities, and organizations have jointly proposed the Beijing Initiative on the Principles of Information Accessibility for Science and Technology Products It clarifies that the private sector should embrace the human rights model advocated by the Convention in terms of information accessibility, and provide equal participation for persons with disabilities in the process of designing, producing and selling scientific and technological products The Initiative also states that the private sector should keep pace with the United Nation’s sustainable development goals and the basic national policy of building a well-to-do society in an all round way, ensuring persons with disabilities are included within a moderately well-off society It also provides civil opinions on the formulation and clarification of relevant laws in the future.

Impact of Information Technology Adoption on Value Relevance of Accounting Information： Evidence From the Colombo Stock Exchange

The purpose of this paper is to investigate the value relevance of earning based accounting information and to see how value relevance has changed with the introduction of new information technology at Colombo Stock Exchange （CSE） in Sri Lanka. Sample of the study includes 129 companies selected from 6 major sectors at CSE. Cross sectional and time series cross-sectional regressions are used for the data analysis. Study finds that earnings per share （EPS） and returns on equity （ROE） have a significant impact on market price. However, the explanatory power of combined variables is below average. Further, value explanatory power of earnings has considerably improved after the new information technology adoption at CSE. This study is unique because it examines the impact of technological advancements on value relevance of accounting information probably as the first paper to be applied on Sri Lanka.

Method to Evaluate the Location of Aged Care Facilitiesin Urban Areas Focusing on the Equity in Terms ofUsers’Accessibility

The present study developed and tested a method to evaluate the location of aged care facilities from the viewpoint of whether they are equitably located for users,using the improved Median Share Ratio(MSR).By evaluating the current location of aged care facilities,it is possible to extract the districts which are short of facilities.The evaluation method was applied to Chofu and Kiyose Cities in Tokyo Metropolis,Japan,and the evaluation result of weighting and that of not weighting by elderly population were compared and discussed.Consequently,adopting the evaluation method with weighting by elderly population,it is possible to adequately examine the districts where new aged care facilities should be constructed.From this evidence,it is significant to evaluate the location of aged care facilities,using the improved MSR with weighting by elderly population in the study.

Research on Property Rights, Revenue Transparency and Equity Financing Costs ——Based on the Perspective of CEO Overconfidence

This paper takes the Chinese listed company with the equity refinancing qualification from 2012 to 2013 as the research object, and uses the residual revenue model to calculate the equity financing cost. This paper discusses the impact of the overconfidence of executives on the equity financing cost and its impact mechanism. The unique institutional background examines the differences in property rights characteristics. The research found that:(1) executive overconfidence has a negative impact on the cost of equity financing, executives tend to be overconfident, the higher the equity financing cost of the company;(2) the overconfidence of executives to state-owned enterprises compared to private enterprises The negative impact of financing costs is more significant;(3) in addition, this paper also examines the potential impact mechanism of executive overconfidence on the cost of equity financing. The quality of information disclosure and the risk of investor prediction have a mediating effect on the impact of executive overconfidence on equity financing costs.

Analysis of stage-investing strategy in equity financing market

Stage-investing strategy is a primary measure to mitigate asymmetric information during equity investment. This paper attempts to investigate the problem faced by equity investors wishing to make optimal investment decision under stage-investing strategy. A serial investment-decision making model will be designed to help investors to take the best choice.

Use of Social Networks to Affect the Teaching and Learning Effectiveness of 3D Design

In recent years, with the rapid development of technologies, information technological software and social networks have been widely accepted. Therefore, social networks can be integrated with information technologies for teaching purposes. In addition, the sharing of learning outcomes via social networks can improve students’ learning effectiveness. This study used an information technology teaching environment to teach students 3D skills, and used 3D SketchUp to enable students to explore, operate, and complete their personal works by themselves. Moreover, this study used Facebook as the media of a WBI (web-based instruction) community, and used the discussions and sharing between students and students, and students and teachers, to improve learning effectiveness and reduce learning disabilities. The research results showed that, proper use of social networks to provide students with opportunities to discuss and share outcomes can help improve students’ learning effectiveness and reduce learning disabilities.

How Artificial Intelligence and Virtual Reality Benefit the Elderly and Individuals with Disabilities

The growing and evolving use of emerging technology including Artificial Intelligence(AI)and Virtual Reality(VR),has significantly impacted the lives of two specific groups-the elderly and the disabled.This paper investigates potential reasons for this phenomenon.Clearly,AI and VR Technology alters the everyday lives of people with disabilities and how they navigate the world.Technological developments increasingly work to address the isolation that people with disabilities as well as the elderly experience for they are often unable or limited in how they engage with their communities.This research paper outlines the way technology has improved social communication,information distribution,and day-to-day living for those with disabilities and the elderly.Undoubtedly,the internet has transformed social communication and interaction for most people.Socially isolated individuals with disabilities have gained exposure to social environments through social media.Moreover,the broad range of information available on the internet has increased access to resources such as government services,health services,and social services support.On a related point,assistive devices have enabled disabled people including many seniors to overcome motor,sensory,or cognitive difficulties that may have previously hindered them from performing daily tasks.However,although AI and VR technology has been effectively integrated in the lives of those with disabilities,many such individuals lack access to commonplace technologies,like a personal computer.This paper examines how AI and VR technology has enhanced communication,information access,and everyday activities for the disabled and aging communities despite such socio-economic limitations.

基于地理信息技术的山地城市社区体育文化公园空间分布分析——以重庆市为例

社区体育文化公园作为居民身心健康发展的重要场域,研究其空间分布及影响因素具有重要意义。文章以具有典型山地城市特征的重庆市为例,运用核密度估算法、最小阻抗法、空间插值法和地理探测器对重庆92个社区体育文化公园进行深入分析。研究发现:重庆市社区体育文化公园主要分布在渝中、渝北、南岸、巴南西部临江一带,总体分布与城市发展具有耦合性,其空间分布主要受交通可达性、房价、人口密度和地势等因素影响,其中交通可达性和房价影响较大,人口密度和地势次之。文章提出以区域发展水平为着力点,建设多层级社区体育文化公园;秉持“以人为本”的核心理念,建设“亲民”社区体育文化公园;以山地城市独有的城市形态,丰富社区体育文化公园内部空间结构等优化配置建议,为社区体育文化公园的规划提供重要参考。

文过饰非:股权质押与MD&A文本信息粉饰——基于机器学习文本分析方法的实证研究

文章基于2013—2021年我国A股上市公司数据,研究控股股东股权质押对管理层讨论与分析(MD&A)文本信息粉饰的影响,并分析机构投资者异质性对二者关系的调节作用。研究发现:控股股东在进行股权质押后,会策略性地粉饰MD&A文本信息;压力抵制型机构投资者对股权质押与MD&A文本信息粉饰之间的关系发挥负向调节作用,压力敏感型机构投资者未发挥调节作用;进一步分析发现,在融资约束程度高、企业声誉差、信息不对称程度高的企业中,控股股东粉饰MD&A文本信息的动机更强,压力抵制型机构投资者的监督作用也更强。对此,今后应加强对控股股东的监管,制定年报文本信息披露细则,优化机构投资者结构,促进我国资本市场良性发展。

“隔空猥亵”未成年人刑法规制的不足与完善

“隔空猥亵”行为隐蔽且持续,具有严重的社会危害性,侵害未成年人的身心健康,且示范效应明显,容易引起群体效仿。目前,对于“隔空猥亵”行为的规制,学界在其侵害法益、出罪事由以及是否需要规定为具体罪名等方面存在争议。事实上,“隔空猥亵”行为已经类型化,可增添网络实名认证来锁定隔空犯罪主体,并对不同行为进行分类以准确确定罪行,配置刑罚。针对现行刑法不能完全规制的元宇宙“性侵”行为,刑法需要增设“网络性侵罪”,规制包括“隔空猥亵”在内的利用网络和现代科技进行的违法行为。

公共数字文化服务残疾人用户利用影响因素及信息无障碍完善路径研究

公共数字文化服务的信息无障碍建设是公共文化服务均等化发展、促进数字包容的重要议题。文章综合运用5S模型及民族志决策树模型等方法,针对残疾人用户群体开展实地访谈调研,对以残疾人为代表的特殊群体公共数字文化服务利用需求、障碍等进行实证分析研究;并对服务利用的影响因素进行扎根理论编码分析,形成残疾人群体公共数字文化服务利用影响因素的理论框架;在此基础上,提出公共数字文化服务信息无障碍完善路径,以更好地解决残疾人群体在利用公共数字文化服务过程中遇到的问题,促进数字时代公共文化服务均等化发展。

我国残疾人职业教育的价值意蕴与发展进路

发展残疾人职业教育,具有帮助残疾人获取参与社会生活的能力和信心,促进社会分配正义和关系正义双重价值目标实现等重要意义。通过梳理我国残疾人职业教育发展的现实情况,发现存在残疾人高等职业教育发展相对滞后,残疾人职业教育社会认可度不高,师资队伍建设不充分等问题。实现残疾人职业教育高质量发展,需要完善教育结构和专业类别,消除刻板印象并提高教育“温度”,优化师资队伍结构和水平。

信息通信技术赋能我国成人教育公平的路向研究——基于《联合国教科文组织教育领域技术创新战略(2021—2025年)》的思考

教科文组织在2021年3月12日通过的《联合国教科文组织教育领域技术创新战略(2021—2025年)》对未来五年信息通信技术在教育领域中的应用和创新做了系统谋划。从文本看,文件在明确教育领域技术创新的全球愿景后,凸显了教科文组织在教育领域技术应用和创新中的三项核心职能,并据此设计了三个行动领域,最后从机构设置、宣传、财政支持等方面部署了推进策略。在以数字化开辟教育发展新赛道的新时代,不仅要引导教师掌握信息通信技术融入具体教学工作的基本要领,持续提升成人教育教师信息通信技术应用能力,而且要系统培育成人教育教师的教育公平意识和能力,实现优势教育资源同质共享;更要围绕偏远地区的成人线上教学开展技术援助,在缩小“数字鸿沟”的同时提升成人教育质量。

数字包容:美国公共图书馆健康公平实践与启示

论文选取14所美国公共图书馆为研究对象,采用网络调查法、文献调研法并结合案例研究法,系统分析了美国弱势群体利用图书馆获取健康信息的障碍及美国公共图书馆面向弱势群体健康公平方面的实践,最后从提高对弱势群体健康不平等的关注度、把握群体差异构建多元服务模式、健全健康信息服务保障机制、整合健康信息资源四方面对我国图书馆健康信息服务提供建议。

绿色债券发行与权益资本成本:来自中国上市企业的经验证据

基于我国上市企业2009—2022年季度数据,运用PSM-DID模型探讨了绿色债券发行与企业权益资本成本之间的关系。研究发现,企业发行绿色债券可以获得更低的权益资本成本,此结论经过更换匹配方式、更换变量度量方式检验后依然成立。机制检验结果表明,绿色债券发行通过降低信息不对称、增强股票流动性、提升ESG表现、促进绿色创新,进而带动企业权益资本成本下降。异质性分析发现,绿色债券发行方获得的融资便利对规模较小、内控水平较高、重污染行业及绿色金融发展较低地区的企业影响更为明显。研究结论揭示了绿色债券发行对企业权益资本成本下降的具体作用机理,为加深对权益资本成本的理解和绿色金融政策的制定提供一定的参考价值。

长护保险支持家庭非正式照护的国际经验与启示

人口老龄化程度加剧导致失能风险增加,由此引发的长期照护问题成为各国共同面临的挑战。长期护理保险作为正式的制度安排,是护理责任社会化的体现,一定程度上弥补了家庭照护能力的不足,也引出了正式照护与非正式照护协同发展的重要议题。荷兰、德国、日本和韩国是实施社会长期护理保险的典型,本文探讨了其支持家庭非正式照护的国际经验,提出在中国情境下长护险支持家庭非正式照护的思考与建议。

控股股东股权质押对年报前瞻性信息披露的影响研究

近年来,随着上市公司股权质押的数量越来越多,控股股东股权质押和市值盈余管理成为研究热点。基于此,以上市公司控股股东股权质押作为研究对象,选取2013—2022年我国A股上市公司所发布的年度财务报告为样本,利用上市公司股权质押数据,从文本信息的内容和态度偏好程度进行挖掘。结果表明:控股股东进行股权质押后在年度报告中披露更多的积极信息和有利股价的预测信息,而控股股东为了控制风险,具有强烈粉饰年度报告的动机。进一步研究发现,粉饰年度报告采用的手段主要是增加乐观信息的陈述,上市公司面临外界质疑时将会披露更多的乐观文本信息。