This paper examines the role of firms'government connections, defined by government intervention in the appointments of Chief Executive Officers and the status of state ownership, in determining the severity of financial constraints faced by Chinese firms. In line with the previous literature,...

This paper presents a model of financial reporting in which investors infer both pre-managed earnings and the precision of earnings from reported earnings. Over-reporting earnings has two opposing pricing effects: investors infer higher pre-managed earnings from an inflated positive earnings...

We examine the short-run dynamic relation between daily institutional trading and stock price volatility in a retail investor-dominated emerging market. We find a significantly negative relation between volatility and institutional net trading that is mainly due to the unexpected institutional...

An agent's productivity depends on his responsiveness to existing incentives ("drive"). Over the long term, this heterogeneity in drive may create significant incentives for the agent to work hard even with vanishingly small amount of existing incentives, explicit or implicit

Elimination of NOx from the non-electric industrial boilers has become priority under the effective implementation of ultra-low emissions. A series of Ce-promoted FeVO4 catalysts with improved acidity and reducibility have been synthesized in this work. Thereinto, 10Ce/FeVO4 exhibited an optimum...

Monoamine neurotransmitters such as L-epinephrine (EPI), norepinephrine (NE), dopamine (DA), and serotonin (ST) are important biomarkers for neurological diseases. However, specific detection of a single monoamine neurotransmitter is challenging. In this work, a water-stable fluorescent...

Transition metal sulfides (TMSs), as highly promising candidate anode materials, are gradually attracting the attention for lithium-ion batteries (LIBs) recently on account of its multiple valence states as well as considerable capacity. Nevertheless, TMSs have relatively low inherent electronic...

The photocarrier dynamics in polycrystalline CdTe films is closely related to device performance. However, the test results obtained at different illumination intensity may be different, and even significantly deviate from the ones in practical application environments. Here, the photocarrier...

Multiscale microstructure of tectonic coal evolution determines CBM storage, development and transport mechanism as well as its effect on coal and gas outburst potential. The multi-scale morphological and topological microstructure characterization of original and tectonic coals were performed...

Graphene/hexagonal boron nitride composites have great application prospects in the field of lubrication due to their unique layered structure and excellent mechanical properties. However, due to their complex synthesis process, easy agglomeration and poor stability, graphene/hexagonal boron...