Taking absorptive capacity effects on research spillovers into consideration, this paper focuses on the R＆D investment decisions and the output decisions of labor-managed firms. Based on the general model of the cost...Taking absorptive capacity effects on research spillovers into consideration, this paper focuses on the R＆D investment decisions and the output decisions of labor-managed firms. Based on the general model of the cost-reducing R＆D, the strategic interactions of output and R＆D investment between labor-managed firms in a duopoly are analyzed. Moreover, the impact of absorptive capacity effects on optimal output in the production stage is discussed. In the R＆D stage, the impacts of absorptive capacity effects on the equilibrium R＆D investment in cooperative and non-cooperative R＆D are analyzed. Finally, the R＆D strategy of labor-managed firms is compared with the behavior of profit-maximizing firms. The results show that equilibrium R＆D investment is always higher than that in the exogenous spillover rate, which is similar to the behavior of the profit-maximizing firms. However, unlike the profit-maximizing firms, the impact of the absorptive capacity that affects the relationship between the optimal output and its own（rival＇ s）R＆D is shown to be dependent upon a return-to-scale of the production.展开更多
Nowadays, earnings management is a hot issue, but most of the researches focus on the incentives of earnings management and few of them refer to the effect of audit quality on earnings management. In this study, we di...Nowadays, earnings management is a hot issue, but most of the researches focus on the incentives of earnings management and few of them refer to the effect of audit quality on earnings management. In this study, we directly examine the effect of external audit quality on earnings management by using discretionary accruals. We find that the discretionary accruals of non-dual audit companies are significantly greater than those of dual audit companies. We also find that clients of non-First Ten auditors intend to report greater discretionary accruals than those of First Ten auditors.展开更多
One of the objectives of the 1257/99 EU regulation was that rural populations should be able to gain an extra income. This regulation may not be any longer in force, but soon a new one will replace it. The plantations...One of the objectives of the 1257/99 EU regulation was that rural populations should be able to gain an extra income. This regulation may not be any longer in force, but soon a new one will replace it. The plantations that are created by Greek farmers more specifically the plantations of poplar trees-have a ten-year rotation at least. This means that the time between the establishment of the plantation and the harvest is high. As a consequence, during this time, the market environment （e.g. prices） may face substantial changes. Frequently, these changes are so immense that producers are driven in economic distress. This situation is also linked to the domestic timber supply and imports, and as a result to the product prices. Concerning the market prices of poplar trees, one additional factor that has probably deteriorated the situation is the E.U. expansion. This paper examines a case study in North Greece. Vital conclusions are made which may be useful for the Greek and E.U. decision makers regarding the process of dealing with current issues such as the 1257/99 regulation replacement （1698/2005）.展开更多
Considering the uncertainty of kelp-abalone-sea cucumber population, an interval model of carbon sink fisheries with multi-trophic levels is proposed. The equilibria of the model are identified and the corresponding s...Considering the uncertainty of kelp-abalone-sea cucumber population, an interval model of carbon sink fisheries with multi-trophic levels is proposed. The equilibria of the model are identified and the corresponding stabilities are discussed. And the existence of bionomic equilibrium of the model is investigated. Next the optimal controller is designed to obtain the optimal harvest using Pontryagin＇s maximum principle. Numerical simulations are carried to prove the results.展开更多
基金The National Natural Science Foundation of China(No.70671024)Annual Research Results in Zhejiang Federation of Humanities and Social Sciences Circles(No.08N40)
文摘Taking absorptive capacity effects on research spillovers into consideration, this paper focuses on the R＆D investment decisions and the output decisions of labor-managed firms. Based on the general model of the cost-reducing R＆D, the strategic interactions of output and R＆D investment between labor-managed firms in a duopoly are analyzed. Moreover, the impact of absorptive capacity effects on optimal output in the production stage is discussed. In the R＆D stage, the impacts of absorptive capacity effects on the equilibrium R＆D investment in cooperative and non-cooperative R＆D are analyzed. Finally, the R＆D strategy of labor-managed firms is compared with the behavior of profit-maximizing firms. The results show that equilibrium R＆D investment is always higher than that in the exogenous spillover rate, which is similar to the behavior of the profit-maximizing firms. However, unlike the profit-maximizing firms, the impact of the absorptive capacity that affects the relationship between the optimal output and its own（rival＇ s）R＆D is shown to be dependent upon a return-to-scale of the production.
文摘Nowadays, earnings management is a hot issue, but most of the researches focus on the incentives of earnings management and few of them refer to the effect of audit quality on earnings management. In this study, we directly examine the effect of external audit quality on earnings management by using discretionary accruals. We find that the discretionary accruals of non-dual audit companies are significantly greater than those of dual audit companies. We also find that clients of non-First Ten auditors intend to report greater discretionary accruals than those of First Ten auditors.
文摘One of the objectives of the 1257/99 EU regulation was that rural populations should be able to gain an extra income. This regulation may not be any longer in force, but soon a new one will replace it. The plantations that are created by Greek farmers more specifically the plantations of poplar trees-have a ten-year rotation at least. This means that the time between the establishment of the plantation and the harvest is high. As a consequence, during this time, the market environment （e.g. prices） may face substantial changes. Frequently, these changes are so immense that producers are driven in economic distress. This situation is also linked to the domestic timber supply and imports, and as a result to the product prices. Concerning the market prices of poplar trees, one additional factor that has probably deteriorated the situation is the E.U. expansion. This paper examines a case study in North Greece. Vital conclusions are made which may be useful for the Greek and E.U. decision makers regarding the process of dealing with current issues such as the 1257/99 regulation replacement （1698/2005）.
文摘Considering the uncertainty of kelp-abalone-sea cucumber population, an interval model of carbon sink fisheries with multi-trophic levels is proposed. The equilibria of the model are identified and the corresponding stabilities are discussed. And the existence of bionomic equilibrium of the model is investigated. Next the optimal controller is designed to obtain the optimal harvest using Pontryagin＇s maximum principle. Numerical simulations are carried to prove the results.
