This study aims to find the effect of financial risks, price risks and market risks on the Earning Response Coefficients （ERC） for China Commercial Banks. The research methodologies use the traditional cumulative ab...This study aims to find the effect of financial risks, price risks and market risks on the Earning Response Coefficients （ERC） for China Commercial Banks. The research methodologies use the traditional cumulative abnormal returns and the unexpected earning as the main dependent and independent variables. The evidences show that： （1） There is a strong returns-to-earnings relation for banks; （2） The liquidity risk has information content beyond earnings changes in the returns-to-earnings relation. This probably due to the reason that managers of banks find the level of liquidity that fulfilled the need of investors and at the same time earns good profits for the banks.展开更多
Song Dynasty was very significant in Chinese feudal history, and ceramic industry boomed during that time： all kinds of kilns were scattered all over the country, and ceramic art achieved great success. Among those a...Song Dynasty was very significant in Chinese feudal history, and ceramic industry boomed during that time： all kinds of kilns were scattered all over the country, and ceramic art achieved great success. Among those achievements, ceramic censers were a very typical one which features unique styles in patterns, decorations, and glaze colors. This paper covers the developing process and artistic characteristics of censers in Song Dynasty.展开更多
文摘This study aims to find the effect of financial risks, price risks and market risks on the Earning Response Coefficients （ERC） for China Commercial Banks. The research methodologies use the traditional cumulative abnormal returns and the unexpected earning as the main dependent and independent variables. The evidences show that： （1） There is a strong returns-to-earnings relation for banks; （2） The liquidity risk has information content beyond earnings changes in the returns-to-earnings relation. This probably due to the reason that managers of banks find the level of liquidity that fulfilled the need of investors and at the same time earns good profits for the banks.
文摘Song Dynasty was very significant in Chinese feudal history, and ceramic industry boomed during that time： all kinds of kilns were scattered all over the country, and ceramic art achieved great success. Among those achievements, ceramic censers were a very typical one which features unique styles in patterns, decorations, and glaze colors. This paper covers the developing process and artistic characteristics of censers in Song Dynasty.
