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Local corruption and corporate cash holdings:Sheltering assets or agency conflict?

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China Journal of accounting Research 2018年第4期11卷 307-324页

作者： Xixiong Xu Yaoqin Li School of Economics and Business Administration Chongqing University The Innovation institute of Corporate finance & accounting Governance Chongqing University (IICFAG)

This study investigates the impact of corruption on corporate cash holdings in China. The political extraction argument predicts that firms might shelter liquid assets to avoid extraction by corrupt officials. Using data on A-shared listed firms between 2007 and 2012, we find that firms located in more corrupt regions hold less cash, supporting this hypothesis. Political resources help to diminish the risk of exploitation, reducing the extent to which liquid assets are sheltered. We find that the negative association between corruption and cash holding is more significant for non-state-owned enterprises(Non-SOEs)than for state-owned enterprises(SOEs). Moreover, the cash holdings of Non-SOEs without political connections are more sensitive to corruption than those of Non-SOEs with political connections. These findings demonstrate that expropriation by corrupt officials is an important factor driving firms to manage liquidity.

关键词： Corruption Corporate cash holding Political extraction Asset sheltering Agency cost

The Meaning of Financial Management

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China Book International 2023年第2期 16-18页

作者： Tan Jianli institute of finance and Taxation Shanxi University of Finance and Economics

In China,the term"financial management"can trace back to the record of the Book of Changes,and is also recorded in other historical *** mainly means that managing people's wealth comes first,followed by managing the state's *** state should set upofficial branches for financial management,with the principle of natural development and people's *** means food *** refers to edible crops and livestock;clothingrefers to clothes and *** management began with food and *** thedevelopment of the times and theprogress of social productivity,it was expanded and extended from content to means.

关键词： record crops expanded

Improving sentiment analysis accuracy with emoji embedding

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Journal of Safety Science and Resilience 2021年第4期2卷 246-252页

作者： Chuchu Liu Fan Fang Xu Lin Tie Cai Xu Tan Jianguo Liu Xin Lu College of Systems Engineering National University of Defense TechnologyChangsha410073China College of Computer National University of Defense TechnologyChangsha410073China School of Software Engineering Shenzhen Institute of Information TechnologyShenzhen518172China institute of accounting and finance Shanghai University of Finance and EconomicsShanghai200433China

Due to the diversity and variability of Chinese syntax and semantics,accurately identifying and distinguishing individual emotions from online texts is *** overcome this limitation,we incorporate a new source of individual sentiment,emojis,which contain thousands of graphic symbols and are increasingly being used for expressing emotion in online *** examined popular sentiment analysis algorithms,including rule-based and classification algorithms,to evaluate the impact of supplementing emojis as additional features to improve the algorithm *** were also translated into corresponding sentiment words when con-structing features for comparison with those directly generated from emoji label *** addition,considering different functions of emojis in texts,we classified all posts in the dataset by their emoji usage and examined the changes in algorithm *** found that emojis are effective as expanding features for improving the accuracy of sentiment analysis algorithms,and the algorithm performance can be further increased by taking different emoji usages into *** this study,we developed an improved emoji-embedding model based on Bi-LSTM(namely,CEmo-LSTM),which achieves the highest accuracy(around 0.95)when analyzing online Chinese *** applied the CEmo-LSTM algorithm to a large dataset collected from Weibo from December 1,2019 to March 20,2020 to understand the sentiment evolution of online users during the COVID-19 *** found that the pandemic remarkably impacted individual sentiments and caused more passive emotions(e.g.,horror and sadness).Our novel emoji-embedding algorithm creatively combined emojis as well as emoji usage with the sentiment analysis model and can handle emotion mining tasks more effectively and efficiently.

关键词： Sentiment analysis Emoji CEmo-LSTM Sentiment evolution COVID-19

Cryptocurrency technology revolution:are Bitcoin prices and terrorist attacks related?

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Financial Innovation 2023年第1期9卷 1293-1312页

作者： Yu Song Bo Chen Xin‑Yi Wang institute of Defense Economics and Management Central University of Finance and Economics39 Xueyuan South RoadBeijingChina

As a financial innovation of the information age,cryptocurrency is a complex concept with clear advantages and disadvantages and is worthy of *** from a terrorism perspective,this study uses the time-varying parameter/stochastic volatil-ity vector autoregression model to explore the risk hedging and terrorist financing capabilities of *** results show that both terrorist incidents and brutality may explain Bitcoin price,but their effects are slightly *** to terrorist brutality,terrorist incidents have a weaker impact on Bitcoin price,showing that Bitcoin investors are more concerned about the number of deaths than the frequency of ter-rorist *** turn,the impact of Bitcoin price on terrorist attacks is *** is a potential means of financing terrorism,but it does not currently play an important *** research findings can help investors analyze and predict Bitcoin prices and help improve the theoretical system of anti-terrorist financing,helping to maintain world peace and security.

关键词： Terrorist incident Terrorist brutality Bitcoin price Time-varying

Analysis of Internal Control Management Problems in Hospital finance and accounting

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Proceedings of Business and Economic Studies 2024年第3期7卷 133-139页

作者： Yan Wang Tianjin Medical University Cancer institute&Hospital Tianjin 300060China

This paper outlines the internal control management of hospital accounting and finance,introducing its concept,importance,and *** then analyzes the problems existing in the internal control management of hospital accounting and finance,including an unsound management system,insufficient system implementation,inadequate risk assessment and control capabilities,poor information communication,weak internal supervision,and uneven personnel *** reasons for these problems are also analyzed,including outdated management concepts,irrational organizational structures,imperfect training and incentive mechanisms,low levels of information technology,and changes in the external *** paper proposes improvement measures for the internal control management of hospital accounting,including enhancing the management system,strengthening system implementation,improving risk assessment and control capabilities,enhancing the information communication mechanism,strengthening internal supervision,improving personnel quality,advancing information technology,and adapting to changes in the external environment.

关键词： Hospital accounting Internal control management Medical system reform Financial security Operational efficiency

Calculation and decomposition of regional household energy consumption in China:based on perspectives of urbanization and residents' consumption

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Chinese Journal of Population,Resources and Environment 2017年第2期15卷 132-141页

作者： Wen Guo Tianyan Zhao Hongjun Dai College of accounting Nanjing University of Finance & Economics College of Economics and Management Research Institute of Financial Development Nanjing University of Aeronautics and Astronautics School of accounting Capital University of Economics and Business

Demographic urbanization caused great changes in scale of residents' consumption and residents' lifestyle and then impacted changes of regional household energy consumption. This paper expanded Logarithmic Mean Decomposition Index method through introducing variables of urbanization and residential consumption into the model. It also analyzed the influences of six factors as energy structure, energy intensity, population scale, urbanization, residential consumption, and consumption inhibit on regional household energy consumption. Results showed that in 2003-2012, impact of urbanization on regional household energy consumption of Chinese three areas was significantly higher than population size. The "population gathered in eastern region" phenomenon caused eastern region getting the largest population scale effect. Driving force of residential consumption on regional household energy consumption was much higher than the other five effects. Due to the comparative advantage of residential consumption compared with government consumption, investment, and net export, the decrease of consumption ratio promoted the growth of regional household energy consumption. Energy intensity in Chinese three regions kept reducing in 2003-2012. The progress of energy utilization technology slowed the growth of regional household energy consumption, and energy intensity effect was most significant in the central region.

关键词：地区性都市化和分解消费精力家庭居民计算

Can media exposure improve stock price efficiency in China and why?

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China Journal of accounting Research 2016年第2期9卷 83-114页

作者： Jeong-Bon Kim Zhongbo Yu Hao Zhang School of accounting and finance University of Waterloo Shenzhen Stock Exchange Research institute College of Business City University of Hong Kong

The media in China has undergone extensive commercialization to become more market-driven over the last 35 years. Based on a sample of over two million newspaper articles, this study investigates whether the media in China has an incremental impact on stock price efficiency. We find that: as media coverage of a firm increases,(1) its stock price synchronicity decreases;(2)the probability of informed trading of its stock increases; and(3) the extent to which its stock price deviates from random walk decreases. Our interregional analysis over thirty-one provinces/regions within China reveals that the effects of the media on decreasing stock price synchronicity, increasing the probability of informed trading, and reducing stock price deviation from random walk are stronger in regions of weaker institutional *** findings suggest that a market-driven media can play the role of compensating for the underdeveloped governance institutions in transitional economies such as China.

关键词： Media exposure Stock price efficiency China

Macroeconomic control,political costs and earnings management:Evidence from Chinese listed real estate companies

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China Journal of accounting Research 2011年第3期4卷 91-106页

作者： Donghua Chen Jieying Li Shangkun Liang Guojun Wang institute of accounting and finance Department of AccountingSchool of BusinessNanjing University

Firms in China have faced high political costs during China's economic transition,because they are affected by macroeconomic ***,research to date has offered no consistent conclusions on the relationship between political costs and earnings management in *** study tests whether real estate firms attempt to decrease earnings during periods of macroeconomic control,using variables related to the national real estate market as proxies for political *** find that political costs are negatively related to earnings management in listed real estate *** addition,we find that non-state-owned enterprises utilized more income-decreasing accruals during this *** results are consistent with the political costs hypothesis.

关键词： Political costs Earnings management State-owned en

Reputation repair and corporate donations:An investigation of responses to regulatory penalties

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China Journal of accounting Research 2019年第3期12卷 293-313页

作者： Xue Xia Fei Teng Xiaolong Gu Center for accounting Financeand InstitutionsBusiness SchoolSun Yat-sen UniversityChina accounting School/International Business School Guangdong University of Finance and EconomicsChina institute of Capital Market and Audit Governance Studies for the Great Bay Area(Guangdong Hong-KongMacao)Guangdong University of Finance and EconomicsChina

According to the risk management and reputation insurance theory of corporate social responsibility, corporate donations can help a company to repair its reputation after a *** study uses a propensity score matching–difference in difference(PSM + DID) methodology to investigate the charitable donation activities of companies that have been subject to regulatory *** analysis of a sample of A-share listed companies in the 2004–2016 period shows that companies significantly increase their charitable donations after regulatory penalties, but this effect weakens over *** analysis reveals that non-state-owned companies, companies with higher ownership concentrations, and companies receiving severer penalties are more motivated to make donations after regulatory *** studying the reputation repair behavior of companies that have been subject to regulatory penalties, this study offers further support for the risk management and reputation insurance theory of corporate social *** also enriches our understanding of companies’ active responses to regulatory penalties and provides insights into companies’ motives for making charitable donations.

关键词： Regulatory penalty Donation Reputation repair