scholarly journals The Influence of Carbon Emission Disclosure On Enterprise Value Under Ownership Heterogeneity: Evidence From The Heavy Polluting Corporations

2021 ◽  
Author(s):  
Liang Yuan ◽  
Yuying Chen ◽  
Weijun He ◽  
Yang Kong ◽  
Xia Wu ◽  
...  
Keyword(s):  
Ownership Structure ◽  
Information Disclosure ◽  
Environmental Regulations ◽  
Corporate Image ◽  
Moderating Effect ◽  
Image Management ◽  
Moderating Effects ◽  
Short Term ◽  
Enterprise Value

Abstract China has put forward the goals of “Emission Peak” and “Carbon Neutrality”. Therefore, whether the restriction of carbon information disclosure could promote the transformation and upgrading of heavily polluting corporations to raise their value and realize the “double carbon” goal is a problem worthy of in-depth study. This article analyzed the impact of carbon information disclosure on the enterprise value of heavily polluting corporations based on the perspective of ownership structure heterogeneity. The paper discussed the moderating effect of carbon information disclosure on enterprise value taking into account government environmental regulations, media evaluation, and corporate image management based on the Gatekeeper Theory. This article found that carbon information disclosure and enterprise value have a “U-shaped” relationship in the short term and a positive correlation in the long term. The government environmental regulation, media evaluation, and corporate image management produced different moderating effects under the difference in ownership structure. Government environmental regulations, media evaluation, and corporate image management made significant moderating effects on state-owned corporations in the short term, while they have no significant moderating effect in the long term. The results also showed that there were no significant effects on private corporations. In order to push heavily polluting corporations to implement environmental protection measures, government and corporations are necessary to promote the long-term mechanism of sustainable cleaner production.

scholarly journals Are Investors Warned by Disclosure of Conflicts of Interest? The Moderating Effect of Investment Horizon

2019 ◽  
Vol 95 (6) ◽  
pp. 291-310 ◽  
Author(s):  
Yuanyuan Liu ◽  
Zhongwei Huang ◽  
Like Jiang ◽  
William F. Messier
Keyword(s):  
Decision Making ◽  
Conflicts Of Interest ◽  
Financial Analysts ◽  
Moderating Effect ◽  
Experimental Results ◽  
Data Availability ◽  
Investment Horizon ◽  
Limited Evidence ◽  
Short Term

ABSTRACT Financial analysts are required to disclose conflicts of interest (COI) in their research reports, but there is limited evidence on the effectiveness of COI disclosures. We investigate whether the influence of disclosing COI in analyst reports on investors' decision making depends on investment horizon. Experimental results show that short-term investors who view a COI disclosure are significantly less willing to invest in the recommended stock compared to short-term investors who do not view such a disclosure, while the presence of a COI disclosure does not significantly affect long-term investors' willingness to invest. Results further demonstrate that the COI disclosure decreases short-term investors' willingness to invest by reducing their perception of analysts' trustworthiness and expertness. This study provides evidence on when and how the COI disclosure can influence investors' behavior and enhances our understanding of investors' reactions to cautionary disclaimers. Data Availability: Contact the authors.

scholarly journals How Does R&D Investment Affect the Financial Performance of Cultural and Creative Enterprises? The Moderating Effect of Actual Controller

2019 ◽  
Vol 11 (2) ◽  
pp. 297 ◽  
Author(s):  
Zhipeng Zang ◽  
Qiwei Zhu ◽  
Helena Mogorrón-Guerrero
Keyword(s):  
Financial Performance ◽  
Technological Innovation ◽  
Local Governments ◽  
Central Government ◽  
Moderating Effect ◽  
Short Term ◽  
D Investment ◽  
Positive Impacts

R&D investment has a sophisticated correlation with the financial performance of cultural and creative enterprises. In this study, using the panel data of listed cultural and creative enterprises in China from 2011 to 2013, we found that R&D investment has positive impacts on financial performance in both the current and the lag periods. However, these positive impacts are moderated by actual controllers. More specifically, there is a positive moderating effect on enterprises’ financial performance when the central government is the actual controller. On the other hand, there is no evident effect when the actual controller is a local government or a state-owned enterprise, and there is a clear negative moderating effect on financial performance when a natural person is the actual controller. Given these findings, we argue that local governments and state-owned enterprises should improve their long-term strategies for the cultural and creative enterprises they control and reduce actions forced by short-term economic goals. Additionally, local governments and state-owned enterprises should fundamentally stress the role of R&D in order to handle the pressure of increasingly keen competition from international companies’ technological innovation programs.

Does Competitive Environment Moderate the Market Orientation-Performance Relationship?

1994 ◽  
Vol 58 (1) ◽  
pp. 46-55 ◽  
Author(s):  
Stanley F. Slater ◽  
John C. Narver
Keyword(s):  
Market Orientation ◽  
Cost Effective ◽  
Competitive Environment ◽  
Moderating Effects ◽  
Short Term ◽  
Competitor Analysis ◽  
Limited Support ◽  
And Performance ◽  
Moderator Role

Recent studies have shown evidence of a positive relationship between market orientation and performance. However, some scholars have suggested that competitive environment could moderate this relationship. The authors investigate how competitive environment affects the strength of the market orientation-performance relationship and whether it affects the focus of the external emphasis within a market orientation—that is, a greater emphasis on customer analysis relative to competitor analysis, or vice versa, within a given magnitude of market orientation. Their results provide very limited support for a moderator role for competitive environment on the market orientation-performance relationship. The benefits of a market orientation are long term though environmental conditions are often transient, and thus being market oriented is cost-effective in spite of any possible short-term moderating effects of the environment.

Study on the Impact of Economic Growth and Financial Development on the Environment in China

2015 ◽  
Vol 3 (4) ◽  
pp. 334-347 ◽  
Author(s):  
Jin Yang ◽  
Yu Zhang ◽  
Yanmei Meng
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Environmental Kuznets Curve ◽  
Econometric Models ◽  
Moderating Effect ◽  
Kuznets Curve ◽  
Short Term ◽  
Financial Efficiency ◽  
The Impact

AbstractThis paper makes a theoretical and empirical study on the impact of economic growth and financial development on the environment in China. Through the establishment of econometric models, some conclusions have been found as follows: Firstly, there’s Environmental Kuznets Curve in China in the long and short term; Secondly, China’s financial interrelations ratio and financial efficiency can alleviate environmental pollution, and in the long term financial interrelations ratio has a stronger effect, instead, in the short term financial efficiency has a stronger effect; Moreover, in the long term financial interrelations ratio and financial efficiency have a positive moderating effect that can weaken the impact of economic growth on the environment, whereas financial interrelations ratio’s moderating effect is stronger; Finally, this article makes conclusion and inspiration for the improvement of China’s environmental quality.

scholarly journals Capital Structure and Firm Financial Performance: Moderating Effect of Board Financial Literacy in Nigerian Listed Non-Financial Companies

2021 ◽  
Vol 4 (1) ◽  
pp. 48-66
Author(s):  
Udisifan Michael Tanko ◽  
Akeem Adetunji SIYANBOLA ◽  
Paul Matudi Bako ◽  
Olalere Victor DOTUN
Keyword(s):  
Capital Structure ◽  
Financial Performance ◽  
Financial Literacy ◽  
Secondary Data ◽  
Moderating Effect ◽  
Least Square ◽  
Short Term ◽  
Firm Financial Performance ◽  
Academic Qualification

Objective – The study examined the moderating effect of board financial literacy on the relationship between capital structure and firm financial performance of listed non-financial companies in Nigeria.  Design/methodology – Capital structure was measured by long term debts to total assets, short term debts to total assets equity to total debt ratio and board financial literacy was measured by ratio of board members that have professional and academic qualification in accounting, finance and economics. Meanwhile financial performance was measured by return on assets. Secondary data was extracted from the sampled firms annual report and accounts and analyzed using Panel Least Square. Results – The study revealed a positive and significant relationship between long term debt and ROA. It also shows that board financial literacy moderate capital structure significantly and increase firm performance. The study recommended that the management of Nigerian listed non-financial firms should optimize the capital structure in order to increase the financial performance. They can do that through ensuring that their capital structure is optimal by using more of current debts and non-current debt than equity. The Board of Directors of Nigerian listed company should be concerned about the level of long term debt, short term debt and include members that are financially literate who will contribute in financing decision of firm in order make optimal capital structure for better financial performance. This is because the findings of this study revealed a positive significant moderating relationship between long term debt, short term debt and financial performance.

Conceptual short-term memory (CSTM) supports core claims of Christiansen and Chater

2016 ◽  
Vol 39 ◽  
Author(s):  
Mary C. Potter
Keyword(s):  
Working Memory ◽  
Rapid Serial Visual Presentation ◽  
Language Comprehension ◽  
Short Term Memory ◽  
Visual Presentation ◽  
Long Term Memory ◽  
Short Term ◽  
Term Memory ◽  
Use Of Knowledge

AbstractRapid serial visual presentation (RSVP) of words or pictured scenes provides evidence for a large-capacity conceptual short-term memory (CSTM) that momentarily provides rich associated material from long-term memory, permitting rapid chunking (Potter 1993; 2009; 2012). In perception of scenes as well as language comprehension, we make use of knowledge that briefly exceeds the supposed limits of working memory.

Ultrastructural investigations of MDL 19,660-induced effects on the canine platelet and megakaryocyte

1990 ◽  
Vol 48 (3) ◽  
pp. 374-375
Author(s):  
D.E. Loudy ◽  
J. Sprinkle-Cavallo ◽  
J.T. Yarrington ◽  
F.Y. Thompson ◽  
J.P. Gibson
Keyword(s):  
Antidepressant Drug ◽  
Beagle Dogs ◽  
Long Term Effects ◽  
Short Term ◽  
Platelet Counts ◽  
Toxicological Studies ◽  
Induced Aggregation ◽  
Internal Architecture

Previous short term toxicological studies of one to two weeks duration have demonstrated that MDL 19,660 (5-(4-chlorophenyl)-2,4-dihydro-2,4-dimethyl-3Hl, 2,4-triazole-3-thione), an antidepressant drug, causes a dose-related thrombocytopenia in dogs. Platelet counts started to decline after two days of dosing with 30 mg/kg/day and continued to decrease to their lowest levels by 5-7 days. The loss in platelets was primarily of the small discoid subpopulation. In vitro studies have also indicated that MDL 19,660: does not spontaneously aggregate canine platelets and has moderate antiaggregating properties by inhibiting ADP-induced aggregation. The objectives of the present investigation of MDL 19,660 were to evaluate ultrastructurally long term effects on platelet internal architecture and changes in subpopulations of platelets and megakaryocytes.Nine male and nine female beagle dogs were divided equally into three groups and were administered orally 0, 15, or 30 mg/kg/day of MDL 19,660 for three months. Compared to a control platelet range of 353,000- 452,000/μl, a doserelated thrombocytopenia reached a maximum severity of an average of 135,000/μl for the 15 mg/kg/day dogs after two weeks and 81,000/μl for the 30 mg/kg/day dogs after one week.

Comparison of Auditory, Language, Memory, and Attention Abilities in Children With and Without Listening Difficulties

2020 ◽  
Vol 29 (4) ◽  
pp. 710-727
Author(s):  
Beula M. Magimairaj ◽  
Naveen K. Nagaraj ◽  
Alexander V. Sergeev ◽  
Natalie J. Benafield
Keyword(s):  
Auditory Processing ◽  
Short Term Memory ◽  
Group Differences ◽  
Long Term Memory ◽  
Short Term ◽  
Significant Group ◽  
Term Memory ◽  
Memory And Attention ◽  
Speed And Accuracy

Objectives School-age children with and without parent-reported listening difficulties (LiD) were compared on auditory processing, language, memory, and attention abilities. The objective was to extend what is known so far in the literature about children with LiD by using multiple measures and selective novel measures across the above areas. Design Twenty-six children who were reported by their parents as having LiD and 26 age-matched typically developing children completed clinical tests of auditory processing and multiple measures of language, attention, and memory. All children had normal-range pure-tone hearing thresholds bilaterally. Group differences were examined. Results In addition to significantly poorer speech-perception-in-noise scores, children with LiD had reduced speed and accuracy of word retrieval from long-term memory, poorer short-term memory, sentence recall, and inferencing ability. Statistically significant group differences were of moderate effect size; however, standard test scores of children with LiD were not clinically poor. No statistically significant group differences were observed in attention, working memory capacity, vocabulary, and nonverbal IQ. Conclusions Mild signal-to-noise ratio loss, as reflected by the group mean of children with LiD, supported the children's functional listening problems. In addition, children's relative weakness in select areas of language performance, short-term memory, and long-term memory lexical retrieval speed and accuracy added to previous research on evidence-based areas that need to be evaluated in children with LiD who almost always have heterogenous profiles. Importantly, the functional difficulties faced by children with LiD in relation to their test results indicated, to some extent, that commonly used assessments may not be adequately capturing the children's listening challenges. Supplemental Material https://doi.org/10.23641/asha.12808607

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