Ⅰ. Beijing Subway Line 10 Accident
On March 28, 2007, six people were buried by a cave-in at Suzhoujie Station on Line 10 of the Beijing Subway. The fatalities were caused when the unit in charge of construc... Ⅰ. Beijing Subway Line 10 Accident
On March 28, 2007, six people were buried by a cave-in at Suzhoujie Station on Line 10 of the Beijing Subway. The fatalities were caused when the unit in charge of construction failed to implement a timely evacuation after a construction accident took place. (See Beijing Youth, April 1, 2007)……展开更多
This paper examines how independent directors’social capital,as measured by their social network,affects corporate fraud.We find that firms with wellconnected independent directors are less likely to commit fraud,sup...This paper examines how independent directors’social capital,as measured by their social network,affects corporate fraud.We find that firms with wellconnected independent directors are less likely to commit fraud,supporting our monitoring effect hypothesis.This result is robust to a battery of tests.Further analyses show that the effect is stronger for firms with a relatively poor legal environment,for firms whose independent directors face strong reputation incentives and when independent directors are audit committee members.Moreover,we explore a potential economic mechanism of the effect and observe that well-connected independent directors are associated with less absenteeism and more dissension.Overall,our findings suggest that independent directors’social capital plays an important role in corporate governance.展开更多
The authors would like to apologize for some mistakes in the letter on Chinese Optics Letters vol. 12, no. 11, page 111701 and wish to make the corrections described below：
The governance effects of directors’and officers’liability insurance(D&O insurance),an important tool for risk diversification,are of strong concern in the capital market.Using a sample of Chinese A-share listed...The governance effects of directors’and officers’liability insurance(D&O insurance),an important tool for risk diversification,are of strong concern in the capital market.Using a sample of Chinese A-share listed firms from2009 to 2018,we examine the impact of D&O insurance on excess corporate leverage.We find that D&O insurance is negatively associated with excess corporate leverage and that this result is consistent with a series of robustness tests.Further analyses show that D&O insurance impedes excess corporate leverage mainly because of its effect on external monitoring.The effect is more pronounced for firms that are state-owned,have political connections and are located in provinces with low marketization than for other firms.展开更多
The deep dielectric charging effect monitor(DDCEM)has been designed to study the internal charging effect by measuring the charging currents and potentials inside the spacecraft.It is equipped on three Chinese navigat...The deep dielectric charging effect monitor(DDCEM)has been designed to study the internal charging effect by measuring the charging currents and potentials inside the spacecraft.It is equipped on three Chinese navigation satellites in a circular medium earth orbit(MEO)with 22000 km average height and 55°inclinations.Numerical simulation based on the Geant4-RIC method was used to evaluate the data of DDCEM.The data during May to November 2019 on one of the three satellites show that the charging currents of DDCEM were negatively enhanced when the satellite moved into the outer radiation belt.The currents reached the negative maximum during a significant electron enhancement in September 2019.Positive currents were also detected besides negative currents that were caused by the deposition of electrons in the sensor.The causation of positive currents in the space environment may be that the low-energy electrons cannot penetrate the satellite skin and make it charging to negative potential,the reference ground of DDCEM that is connected to the satellite skin drops below zero by the low-energy electrons so that the output currents turn to positive.Ground experiment was used to simulate the causation of positive currents and the result verified our theory.展开更多
文摘 Ⅰ. Beijing Subway Line 10 Accident
On March 28, 2007, six people were buried by a cave-in at Suzhoujie Station on Line 10 of the Beijing Subway. The fatalities were caused when the unit in charge of construction failed to implement a timely evacuation after a construction accident took place. (See Beijing Youth, April 1, 2007)……
文摘This paper examines how independent directors’social capital,as measured by their social network,affects corporate fraud.We find that firms with wellconnected independent directors are less likely to commit fraud,supporting our monitoring effect hypothesis.This result is robust to a battery of tests.Further analyses show that the effect is stronger for firms with a relatively poor legal environment,for firms whose independent directors face strong reputation incentives and when independent directors are audit committee members.Moreover,we explore a potential economic mechanism of the effect and observe that well-connected independent directors are associated with less absenteeism and more dissension.Overall,our findings suggest that independent directors’social capital plays an important role in corporate governance.
文摘The authors would like to apologize for some mistakes in the letter on Chinese Optics Letters vol. 12, no. 11, page 111701 and wish to make the corrections described below：
基金supported by the National Social Science Youth Foundation of China(Project No.20CGL014)the Social Science Planning Project in Chongqing,China(Project No.2021BS084)
文摘The governance effects of directors’and officers’liability insurance(D&O insurance),an important tool for risk diversification,are of strong concern in the capital market.Using a sample of Chinese A-share listed firms from2009 to 2018,we examine the impact of D&O insurance on excess corporate leverage.We find that D&O insurance is negatively associated with excess corporate leverage and that this result is consistent with a series of robustness tests.Further analyses show that D&O insurance impedes excess corporate leverage mainly because of its effect on external monitoring.The effect is more pronounced for firms that are state-owned,have political connections and are located in provinces with low marketization than for other firms.
基金supported by the National Natural Science Foundation of China (Grant No. 41374181)the Beijing Municipal Natural Science Foundation (Grant No. 3184048)
文摘The deep dielectric charging effect monitor(DDCEM)has been designed to study the internal charging effect by measuring the charging currents and potentials inside the spacecraft.It is equipped on three Chinese navigation satellites in a circular medium earth orbit(MEO)with 22000 km average height and 55°inclinations.Numerical simulation based on the Geant4-RIC method was used to evaluate the data of DDCEM.The data during May to November 2019 on one of the three satellites show that the charging currents of DDCEM were negatively enhanced when the satellite moved into the outer radiation belt.The currents reached the negative maximum during a significant electron enhancement in September 2019.Positive currents were also detected besides negative currents that were caused by the deposition of electrons in the sensor.The causation of positive currents in the space environment may be that the low-energy electrons cannot penetrate the satellite skin and make it charging to negative potential,the reference ground of DDCEM that is connected to the satellite skin drops below zero by the low-energy electrons so that the output currents turn to positive.Ground experiment was used to simulate the causation of positive currents and the result verified our theory.
