Over the last three decades, academic research has sought to understand how cash shortfalls impact a firm’s ability to take all available value-increasing investment projects. We investigate whether firms facing greater financing constraints turn to tax strategies that generate lower cash...

We select mutual funds in real time by combining individual fund holdings and a large number (94) of stock characteristics to compute fund-level characteristics on the basis of the stocks they hold. We show that, first, the majority of funds are largely exposed---both positively and...

Whether annual reports to shareholders provide valuable information for investors’ portfolio decisions has been the subject of considerable research, but the findings are mixed. Furthermore, establishing causality is challenging given the endogenous nature of financial reporting and the...

As with other jurisdictions, China has introduced a range of newer technologies into its justice sector to promote greater access to justice, improve judicial transparency and to promote just outcomes for disputing parties with legal issues. Chinese courts’ practice of embracing technology is...

Geographic diversification of listed companies expands the distance between parent and subsidiary in space geographically; thus, it is urgent to clarify whether the geographic distance between parent and subsidiary companies inhibits or promotes corporate innovation performance. This paper...

Purpose: Key performance indicators (KPIs) are an essential management tool. Realtime KPIs for production and logistics form the basis for flexible and adaptive production systems. These indicators unfold their full potential if they are seamlessly integrated into the “Digital Twin” of a...

Drought is one of the most detrimental natural disasters. Studying the changing characteristics of drought is obviously of great importance to achieve the sustainable use of water resources at river basin scales. In this paper, the satellite-based Vegetation Condition Index (VCI) and Vegetation...

We conduct analysis on the urban construction's demand for land, tourism's demand for land, infant industry's demand for land and infrastructure's demand for land in Hainan Province, respectively, and forecast the amount of newly-added land in Hainan Province in 2015 compared to 2008. Based on...