Using a uniquely hand-collected dataset, we examine how financial analysts react to expectations management in the post-Regulation Fair Disclosure (FD) period. We find evidence that management issues pessimistic public guidance to lower analysts' expectations to a beatable level in the new...

We investigate the relation between investor sentiment and property-liability insurers' loss reserves. We use the Michigan Consumer Confidence Index as a proxy for sentiment, we show that during high sentiment periods, property-liability insurers intend to under-estimate loss reserves. In...

This paper investigates the capital market consequences of expectations management in the postRegulation Fair Disclosure period. Results show that investors “punish” firms that deliberately issue pessimistic public guidance to dampen analysts' expectations to a beatable level in the...

This paper investigates whether the Chinese state-owned financial institutions’ (national team) bailouts in the crash of 2015, as a symbol of implicit government guarantees, were able to stabilize the market in the absence of any stock purchases (or sells) during the COVID-19 pandemic. By...

This paper tries to explain various human psychological phenomenon within a unified framework. By the first signal system, the human being and the animal both have the ability of reflecting the objective world. But, because the human being also owns the second signal system, differing from the...

To curb global warming man has to reduce greenhouse gas emissions (GHGs) created to the atmosphere by human activities, and it cannot neglect the efforts of corporate communities. Indeed, companiesa direct emissions are dwarfed by supply chain GHGs from an industry sector. No matter to prepare...

The impact of Inward Foreign Direct Investment’s influence on a country’s exports to the FDI source is a subject matter of significance. This paper applies an augmented gravity model of international trade with Foreign Direct Investment integrated into it to empirically estimate the factors...

The phenomenon of expectations management has received considerable attention from the popular press, accounting regulators and accounting researchers over the past number of years. Both anecdotal and academic evidence are consistent with managers actively taking actions to dampen financial...

Based on the actual situation and the survey results in rural areas, with the domestic and foreign advanced green building standard as a reference, we initially determine the evaluation indicator system for rural green building. We use the AHP-Delphi method to calculate the weight, and get a...