Propping acts by controlling shareholders are common in Chinese listed firms In this paper, we use data on related-party transactions of all listed Chinese firms from 2002 to 2008 to investigate the motivation behind ...Propping acts by controlling shareholders are common in Chinese listed firms In this paper, we use data on related-party transactions of all listed Chinese firms from 2002 to 2008 to investigate the motivation behind controlling share holders' propping acts and subsequent wealth-transfer behavior and how both affect firm performance. We find that such institutional motivators as the maintenance of shell resources and qualification for refinancing have a significant effect on the propping behavior of controlling shareholders of Chinese listed firms and that such behavior is often followed by more serious tunneling when shareholders are driven by these motivators. Compared with non-state owned firms, state-owned firms with the motivation to qualify for refinancing exhibit more severe tunneling after engaging in propping behavior. We also find that while propping by controlling shareholders improves a firm's current operating performance, in firms whose controlling shareholders' are motivated by the desire to maintain shell resources or obtain a refinancing qualification their performance declines in the following year because of subsequent tunneling. The results presented in this paper provide us with a better understanding of the relationship between propping and tunneling, controlling shareholders engagement in both and the consequences of that behavior.展开更多
目的利用医疗大数据和机器学习技术相结合,探索基于临床结果的临床医师绩效评价方法。方法采用非负主成分分析法(non-negative principal component analysis,NPCA),基于非负稀疏主成分算法(non-negative sparse principal component an...目的利用医疗大数据和机器学习技术相结合,探索基于临床结果的临床医师绩效评价方法。方法采用非负主成分分析法(non-negative principal component analysis,NPCA),基于非负稀疏主成分算法(non-negative sparse principal component analysis,NSPCA)对170名治疗心血管疾病的临床医师的11个临床工作绩效指标进行综合指数拟合。同时,基于根本原因评估技术(root cause assessment techniques)构建置信区间计算每一名临床医师各指标范围。结果门诊出院诊断符合率、手术切口甲级愈合率、手术患者比例、三日确诊率、开展三级和四级手术比例、完成手术及操作数在区分临床医师工作绩效上较为显著,而术前平均住院日、30天内非计划再入院率、出院患者平均住院日、主要诊断治愈/好转、收治患者数在区分临床医师临床工作绩效上不显著。通过综合指数拟合可对所有临床医师的整体工作绩效进行排名,进一步对各具体指标的高、中、低绩效评估可针对性地揭示每一名临床医师潜在的改建维度。结论利用机器学习技术实现以医疗大数据为载体综合评价临床医师临床工作绩效,有望为更科学、客观地评价临床医师工作绩效提供重要支撑。展开更多
基金the National Natural Science Foundation of China(No.71003108)Soft Science Foundation ofGuangdong Province(2011B070400008)Research Fund of Sichuan University(skqy201312)
文摘Propping acts by controlling shareholders are common in Chinese listed firms In this paper, we use data on related-party transactions of all listed Chinese firms from 2002 to 2008 to investigate the motivation behind controlling share holders' propping acts and subsequent wealth-transfer behavior and how both affect firm performance. We find that such institutional motivators as the maintenance of shell resources and qualification for refinancing have a significant effect on the propping behavior of controlling shareholders of Chinese listed firms and that such behavior is often followed by more serious tunneling when shareholders are driven by these motivators. Compared with non-state owned firms, state-owned firms with the motivation to qualify for refinancing exhibit more severe tunneling after engaging in propping behavior. We also find that while propping by controlling shareholders improves a firm's current operating performance, in firms whose controlling shareholders' are motivated by the desire to maintain shell resources or obtain a refinancing qualification their performance declines in the following year because of subsequent tunneling. The results presented in this paper provide us with a better understanding of the relationship between propping and tunneling, controlling shareholders engagement in both and the consequences of that behavior.
文摘目的利用医疗大数据和机器学习技术相结合,探索基于临床结果的临床医师绩效评价方法。方法采用非负主成分分析法(non-negative principal component analysis,NPCA),基于非负稀疏主成分算法(non-negative sparse principal component analysis,NSPCA)对170名治疗心血管疾病的临床医师的11个临床工作绩效指标进行综合指数拟合。同时,基于根本原因评估技术(root cause assessment techniques)构建置信区间计算每一名临床医师各指标范围。结果门诊出院诊断符合率、手术切口甲级愈合率、手术患者比例、三日确诊率、开展三级和四级手术比例、完成手术及操作数在区分临床医师工作绩效上较为显著,而术前平均住院日、30天内非计划再入院率、出院患者平均住院日、主要诊断治愈/好转、收治患者数在区分临床医师临床工作绩效上不显著。通过综合指数拟合可对所有临床医师的整体工作绩效进行排名,进一步对各具体指标的高、中、低绩效评估可针对性地揭示每一名临床医师潜在的改建维度。结论利用机器学习技术实现以医疗大数据为载体综合评价临床医师临床工作绩效,有望为更科学、客观地评价临床医师工作绩效提供重要支撑。
