应计信息、机构投资者反应与股票错误定价

利用日内交易数据构建订单流不平衡指标,考察机构投资者对上市公司应计信息的即时反应情况及对股票价格产生的影响.结果表明,机构投资者在公司意外盈余为正的前提下,根据应计利润水平采取反转交易策略,买入(卖出)低(高)应计公司股票;受机构投资者交易行为的影响,低应计(高应计)公司股价在盈余公告后短期内上涨(下跌),在公告后长期则下跌(上涨),股价在整个区间内经历反转;通过构建套利组合研究发现,公司应计对股票盈余公告后长期收益的正向预测能力,不能完全被基于风险的资产定价模型所解释,说明机构投资者的交易行为造成股价过度反应,导致市场对公司应计项目错误定价.

Application of International Public Sector Accounting Standards in Vietnam in Current Conditions

The objective of improving the state accounting system is to build a state accounting system based on a single and complete database which is applied uniformly across all public authorities and agencies from central to local. Such an accounting system must ensure a reliable and smooth flow of information among all the entities that take part in the preparation, allocation, execution, and finalization of the state budget. In order to improve the quality of financial information, to harmonize, and to develop accounting profession globally, the trend of international economic integration requires the standardization of accounting legislative framework among countries and first of all, the harmonization and unification of the preparation, presentation, and disclosure of financial information. Financial statements of each business in the private sector and financial statements of the government in the public sector in different countries should be transparent and presented in accordance with the accounting standards and principles and in line with international practices so that the financial information will be able to be compared and evaluated. Therefore, financial statements of each entity in the public sector and the consolidated financial statements of public sector entities issued by the government in different countries must be prepared and presented in a unified form to suit the international public sector accounting standards. Accordingly, with the application of the interview method in research, the main objective of this article is to focus on searching for the bases and consideration for the application of international public sector accounting standards in Vietnam in current conditions. This article consists of eight sections： （1） what are international public sector accounting standards？ （2） accounting entities of the public sector; （3） the limitations of current public sector accounting in Vietnam; （4） financial information to meet the requirements of state management and to comply with international practices; （5） the advantages of applying international public sector accounting standards in Vietnam; （6） the difficulties and challenges of applying international public sector accounting standards in Vietnam; （7） learning experiences from other countries; and （8） conclusion.

Fuzzy entropy design for non convex fuzzy set and application to mutual information

Fuzzy entropy was designed for non convex fuzzy membership function using well known Hamming distance measure.The proposed fuzzy entropy had the same structure as that of convex fuzzy membership case.Design procedure of fuzzy entropy was proposed by considering fuzzy membership through distance measure,and the obtained results contained more flexibility than the general fuzzy membership function.Furthermore,characteristic analyses for non convex function were also illustrated.Analyses on the mutual information were carried out through the proposed fuzzy entropy and similarity measure,which was also dual structure of fuzzy entropy.By the illustrative example,mutual information was discussed.

Survey on Key Technology Development and Application in Trusted Computing

Trusted computing,which can effectively increase the credibility of information system,has made great achievements and is in continuous development. For country who is going to strengthen network construction like China,it is an important fundamental supporting technology worth researching. China is in the international forefront in the field of trusted computing. This paper gives comprehensive introductions to the new development and application of key technologies in trusted computing,such as various trusted platform modules(TPM、TCM、TPCM),TCG Software Stack(TSS),trusted cloud server and Trusted Execution Environment(TEE). We illustrate the progressing and application extension of these technologies and also point out some key problems worth studying in the future.

Do Auditors Postpone Reporting in Response to Insider Trading？ A Korean Perspective

How do auditors react to insider trading in client firms？ This paper examines the effects of insider trading on the audit report date. Insiders tend to urge managers to manage earnings to make more profits through trading their own firm＇s shares. If auditors play an important role in monitoring managers, they may pay more attention to insider trading, which may delay the filing of audit reports. We find that the more the insiders trade their stocks, the longer the audit report lag is. In addition, to address the effectiveness of auditors＇ efforts to prevent managers from earnings management, we test whether an extra effort by auditors can reduce aggressive accounting. We also find that auditors deter aggressive accounting by stretching report lag in response to insider trading, implying that auditors＇ efforts weaken insiders＇ opportunistic behavior. This study contributes to the literature by providing evidence that insider trading is a significant determinant of the audit report lag. We suggest that auditors are interested in insiders＇ activity and it can enhance the quality of accounting information.

会计信息与分析师的信息解释行为

本文以2007-2013年我国A股主板上市公司为样本,针对财务报告中的会计信息,研究分析师信息解释的具体内容及其行为特征。结果发现:(1)分析师倾向于解读应计信息含量较高的财务报告,并且相对于操控性应计,分析师更倾向于解读非操控性应计含量较高的财务报告;(2)分析师倾向于解读会计信息可比性程度较高的财务报告;(3)针对存在公允价值信息的样本,我们发现分析师更倾向于解读利润表的公允价值信息。本文为分析师在资本市场中对于会计信息的解读提供了新的经验证据,也弥补了现有文献对于分析师信息解释内容和行为特征研究的欠缺。

Application research on three-dimensional virtual mine in the framework of internet of things

Based on the information system characteristics of mine, proposed network architecture design of the mine property. And in this framework based on the design of three-dimensional virtual mine described the application of intelligent management platform. Three-dimensional virtual underground mine that shows the situation, the core application is through remote monitoring system of information exchange between devices （material object communication）. Internet of things in the framework of mining three-dimensional virtual reconstruction of mine. On coal mine safety in the production process of human, machine and environment, control elements and their harmony and unity. 3D virtual mine management platform integrates personnel positioning, dust control, gas monitoring, roof pressure monitoring, fan-line monitoring and other subsystems. Platform through the underground mine sensing equipment to conduct various types of monitoring data integration, through the transport layer device to transmit the information to the application layer intelligence processing software platform, the system automatically handles the operational status of each subsystem and the need for safe production under the proper introduction of human factors deal with special event. 3D virtual mine management platform to mining, excavation, transport, ventilation and other safety information quickly and accurately transmitted to the ground operation control center. Underground for the first time on the linkage between systems in case of emergencies, to provide safety for management decision support.

Research on the Cloud Computing Technology Application Based on Ubiquitous Network

Ubiquitous breadth of applications and data to quantify the sea and other features need an efficient means to provide information processing technology ensure. This paper analyzes the ubiquitous network application platform and its initial request for all kinds of computing and network resources. The current cloud computing technology distributed processing capabilities, which were assessed. And cloud computing in the future will provide a reference to the proposed application of research on cloud computing technology application and a new application fields.

Information Fusion Methods in Computer Pan-vision System

Aiming at concrete tasks of information fusion in computer pan vision (CPV) system, information fusion methods are studied thoroughly. Some research progresses are presented. Recognizing of vision testing object is realized by fusing vision information and non vision auxiliary information, which contain recognition of material defects, intelligent robot’s autonomous recognition for parts and computer to defect image understanding and recognition automatically.

Study on the Application of Cloud Technology to Information-based Enterprise Management

The innovation of enterprise management model and the improvement of efficiency are the impetuses to the internal development of enterprises. Computer information technology, with its advantages in low cost, high efficiency and high quality, has been widely popularized and applied in the enterprise development. In this paper, the core competitiveness of enterprises in the information age and the far-reaching influence of a creative, sustainable growth on the development of enterprises are analyzed mainly from the information-based application in enterprise management and the influence of informatization and networking on enterprise management.

Assessing Disclosure Quality： A Methodological Issue

The voluntary disclosure studies conducted until today, in social accounting and related fields, use different approaches to evaluate the so-called ＂disclosure quality＂. Disclosure quality is not so easy to measure, and it is derived from the application of different methodologies. In particular, the methodologies to assess the level of disclosure could be classified as subjective or objective. To the first category belong all the ＂tools＂ that are used directly without relying on the analysis of the original source of the information studies （Imhoff, 1992; Coleman ＆ Eccles, 1997; Welker, 1995）. The objective measurements used to assess the disclosure quality are, instead, based on the direct study of the original information source in order to obtain the information required （Krippendorff, 1980; Weber, 1985; Botosan, 1997; Lang ＆ Lundholm, 2000）. The aim of the paper is to give scholars and researchers a brief framework to understand the different methodologies used in accounting literature to assess the disclosure quality, providing examples of the application of the same in different research contexts.

Application and Development of Computer and Software Technology in the Field of Sports

This paper expounds and summarizes the application situation of modem information technology in the current sports field in our country, and prospected its future development trend. At the same time, Chinese perception is an important strategic thought for development and application of network technology in China, represents the important development direction of information technology in the next generation. The perception sports can be considered using the Internet of things technology to develop and utilize sports resources, thus realize the wisdom management and effective monitoring of sports system, ultimately to serve the sports powerful nation strategy.

Adaptive and local analysis of climate data

This paper focuses on how to extract physically meaningful information from climate data,with emphases placed on adaptive and local analysis. It is argued that many traditional statistical analysis methods with rigorous mathematical footing may not be efficient in extracting essential physical information from climate data;rather,adaptive and local analysis methods that agree well with fundamental physical principles are more capable of capturing key information of climate data. To illustrate the improved power of adaptive and local analysis of climate data,we also introduce briefly the empirical mode decomposition and its later developments.

Study on the Design and Application of Enterprise Information Management System

Along with the continuous development and application of information technology, the information management system of the modem enterprises plays a crucial role in achieving efficient enterprise development. In this paper, the current problems in the information management system of modem enterprises are analyzed, the demand analysis of the information management system design is introduced, and also a feasible enterprise information management system is designed based on B/S mode.

Study on Application of Virtual Reality Technique in Environmental Artistic Design

With the advent of the information age, people＇ s lives have been changed unknowingly owing to lots of modem technology means. For the environmental artistic design, the traditional mode of environmental artistic design is broken through after the emergence of computer technology and virtual reality technique, which makes the scheme and application of virtual reality technique in environmental artistic design to own more practical value. In this paper, the virtual reality technique and its practical application in environmental artistic design are set forth, and the profound influence on the actual design by the virtual reality technique is studied with expectation of enlightenment for broadening the thought of environmental artistic design.

Educational Press for Remote Experimentation Applied in the Spring to Study Hooke＇s Law

The aim of this study is to report the use of RE （remote experimentation） in an educational press. The authors developed this remote experiment with the objective to study the Hooke＇s law through the analysis of the coil spring. The remote experiment is available in a website, where the students can manipulate and observe the educational press and confirm Hooke＇s statements with the output information. In addition, the students will have the opportunity to read in the website about the educational press, the physical law, and the use of the press in industrial processes. This remote experimentation exerts a force in the mechanical spring creating a deformation. In the defined point, the microcomputer will collect the data from the sensors, and it will save this data in the database. After the process execution, a graph with the data will be plotted in the website. The tests confirm that the educational press has informational potential because it returned values consistent with Hooke＇s law and the experiment presented repetition in all tests realized.

Implementing Enterprise Systems for Management： A Case of Kenyan Universities

Kenyan universities, as other business entities, are implementing various information systems to facilitate their operations. The systems include enterprise systems which are implemented to enhance institutional management given their emphasis on standardisation, streamlining, and integration of business operations. In this study, the authors have established that Kenyan universities have mainly implemented systems for finance and accounting, student admissions, examinations management, and library services. The authors have also established that there are no significant differences in information systems needs among Kenyan universities, but there are significant differences in strengths and weaknesses among the private and public universities in the capabilities of systems they have implemented. The authors have further established that despite fears especially on delays in projects implementation and system costs, Kenyan universities are in a position to implement enterprise systems to facilitate their operations. However, the universities need to allocate more funds to systems implementation if they have to successfully implement enterprise systems which generally require more resources than ordinary software applications.

The Application of Chinese Calligraphy Fonts to the Modem Art Design

Chinese calligraphy font design is based on Chinese characters as the carrier, and provides the modem people, the modem market, and the modem society with a font design by applying the modem technology conditions, combining with the modem design concept, and absorbing the traditional calligraphy form languages such as the midcourt line and structure. Along with the development of Chinese character information processing technology, the modem computer techology has been penetrated into every field of society, it has been very important in the field of the design to implement font design and application using the computer directly. In this paper, the application of Chinese calligraphy fonts to the modem design art is discussed from computer font design and the components of Chinese characters, development trend, and modem decoration design. Calligraphy font design will be applied to more design areas, and also will be penetrated into all aspects of people＇ s daily life.

Research of Order Allocation Model Based on Cloud and Hybrid Genetic Algorithm Under Ecommerce Environment

For massive order allocation problem of the third party logistics （TPL） in ecommerce, this paper proposes a general order allocation model based on cloud architecture and hybrid genetic algorithm （GA）, implementing cloud deployable MapReduce （MR） code to parallelize allocation process, using heuristic rule to fix illegal chromosome during encoding process and adopting mixed integer programming （MIP） as fitness flmction to guarantee rationality of chromosome fitness. The simulation experiment shows that in mass processing of orders, the model performance in a multi-server cluster environment is remarkable superior to that in stand-alone environment. This model can be directly applied to cloud based logistics information platform （LIP） in near future, implementing fast auto-allocation for massive concurrent orders, with great application value.

Sequencing Mixed-Model Flexible Assembly Lines with Variable Launching Intervals

To solve the sequencing problem in mixed-model flexible assembly lines (MMFALs) with variable launching intervals, a mathematical model aiming to minimize the cost of utility and idle times is developed. To obtain high-quality sequences, an advanced scatter search (ASS) algorithm is proposed. A heuristic approach, i.e. launching intervals between products algorithm (LIBPA), is incorporated into the ASS algorithm to solve the launching interval problem for each sequence. Numerical experiments with different scales are conducted to compare the performance of ASS with genetic algorithm (GA). In addition, we compare the cost of variable launching intervals approach with fixed launching intervals approach. The results indicate that the ASS is efficient and effective, and considering variable launching intervals in mixed-model assembly lines (MMALs) sequencing problem can improve the performance of the line.