This paper studies short sellers' trading strategies and their effects on the financial market by examining their accusations of fraud against Chinese reverse merger firms(CRMs) in the US. We find that short selle...This paper studies short sellers' trading strategies and their effects on the financial market by examining their accusations of fraud against Chinese reverse merger firms(CRMs) in the US. We find that short sellers rely on firms' fundamental information, especially relative financial indicators, to locate their "prey." Specifically, they compare a target firm's financial indicators(e.g., growth and receivables) with both the industry average and the firm's history. We find no evidence that short sellers accuse CRMs simply because of their reverse merger label. Additionally, we test the accuracy of short sellers' accusations in the long run and find that accused firms are more likely to delist and less likely to recover from price plunges. Our results also indicate that CRMs' high exposure to short sellers' accusations stem from adverse selection problems: firms with high litigation risk are more likely to choose reverse mergers to access the US capital market. Overall, our results support the view that short sellers are sophisticated investors and shed some light on their decision processes.展开更多
This paper is meant to indicate the different functional tasks covered by the two multifunctional bound morphemes: j9- and in Ezha. The former is found to mark accusative, genitive and dative cases. The latter, on the...This paper is meant to indicate the different functional tasks covered by the two multifunctional bound morphemes: j9- and in Ezha. The former is found to mark accusative, genitive and dative cases. The latter, on the other hand, renders the functions of contrastive focus marking, converb marking, declarative clause marking in the affirmative perfective, and coordination. After a thorough description of their functions, it is attempted to propose as to whether the various roles rendered by the two forms relate to distinctive homophonous morphemes or to a single morpheme. The required data for this study were collected from native speakers primarily through elicitation, and this method was supplemented by recording free narratives.展开更多
“The inferiority complex after being accused”is one of the typical cultural psychologies of some people currently in the judicial field at the grassroots society in China.It is mainly manifested in their reluctance ...“The inferiority complex after being accused”is one of the typical cultural psychologies of some people currently in the judicial field at the grassroots society in China.It is mainly manifested in their reluctance to be sued or cooperated with the investigation,and keep away from grass-roots judicial field as far as possible in terms of geographical location and behavior.Once someone else are called by the real judiciary or individuals or organizations pretending to the judiciary,it is easy to trigger the illusion that they may have done something wrong in past times,then they can easily fall into a state of depression and confusion,and even be deceived by other malicious people.Obviously,similar psychology is not conducive to the rule by law and modernization of grassroots society,and it is not conducive to the construction of a harmonious police-civilian relationship.Based on humanistic care and universal law,it is necessary to achieve fine justice based on the perspectives of language culture,costume culture,public psychology,etc.,and gradually guide the traditional people to correctly face the phenomenon of the“inferiority complex after being accused”,so it can help they integrate themselves into the modern society ruled by law smoothly.展开更多
In the case of The King and Kwok Leung & Others [HKLRD] Centenary Supplement 1,the evidence was not translated to the accused,this was the case which didn't respect the accused's language right and human r...In the case of The King and Kwok Leung & Others [HKLRD] Centenary Supplement 1,the evidence was not translated to the accused,this was the case which didn't respect the accused's language right and human rights.And there is an irregularity in the criminal proceedings,it should be a mistrial.This essay will study this case and discuss it from the perspective language right and human right of the accused in criminal proceedings in Hong Kong.展开更多
文摘This paper studies short sellers' trading strategies and their effects on the financial market by examining their accusations of fraud against Chinese reverse merger firms(CRMs) in the US. We find that short sellers rely on firms' fundamental information, especially relative financial indicators, to locate their "prey." Specifically, they compare a target firm's financial indicators(e.g., growth and receivables) with both the industry average and the firm's history. We find no evidence that short sellers accuse CRMs simply because of their reverse merger label. Additionally, we test the accuracy of short sellers' accusations in the long run and find that accused firms are more likely to delist and less likely to recover from price plunges. Our results also indicate that CRMs' high exposure to short sellers' accusations stem from adverse selection problems: firms with high litigation risk are more likely to choose reverse mergers to access the US capital market. Overall, our results support the view that short sellers are sophisticated investors and shed some light on their decision processes.
文摘This paper is meant to indicate the different functional tasks covered by the two multifunctional bound morphemes: j9- and in Ezha. The former is found to mark accusative, genitive and dative cases. The latter, on the other hand, renders the functions of contrastive focus marking, converb marking, declarative clause marking in the affirmative perfective, and coordination. After a thorough description of their functions, it is attempted to propose as to whether the various roles rendered by the two forms relate to distinctive homophonous morphemes or to a single morpheme. The required data for this study were collected from native speakers primarily through elicitation, and this method was supplemented by recording free narratives.
文摘“The inferiority complex after being accused”is one of the typical cultural psychologies of some people currently in the judicial field at the grassroots society in China.It is mainly manifested in their reluctance to be sued or cooperated with the investigation,and keep away from grass-roots judicial field as far as possible in terms of geographical location and behavior.Once someone else are called by the real judiciary or individuals or organizations pretending to the judiciary,it is easy to trigger the illusion that they may have done something wrong in past times,then they can easily fall into a state of depression and confusion,and even be deceived by other malicious people.Obviously,similar psychology is not conducive to the rule by law and modernization of grassroots society,and it is not conducive to the construction of a harmonious police-civilian relationship.Based on humanistic care and universal law,it is necessary to achieve fine justice based on the perspectives of language culture,costume culture,public psychology,etc.,and gradually guide the traditional people to correctly face the phenomenon of the“inferiority complex after being accused”,so it can help they integrate themselves into the modern society ruled by law smoothly.
文摘In the case of The King and Kwok Leung & Others [HKLRD] Centenary Supplement 1,the evidence was not translated to the accused,this was the case which didn't respect the accused's language right and human rights.And there is an irregularity in the criminal proceedings,it should be a mistrial.This essay will study this case and discuss it from the perspective language right and human right of the accused in criminal proceedings in Hong Kong.
