This study examines the influence of underwriter–auditor relationship on pre-initial public offering earnings management. Using a sample of Chinese to-be-listed firms, we find that a close UAR, as reflected in repeated collaborations between an underwriter and an audit firm in IPOs, is positively associated with pre-IPO earnings management. This association is more pronounced for firms with politically connected auditors/underwriters, firms with less reputable auditors/underwriters, firms located in provinces with weak legal environment, firms to-be-listed on boards with lax listing requirements, and (...) firms whose auditors are with low industry specialization, and legal liability exposures. We provide further evidence that UAR is associated with greater likelihood of irregular activities in post-IPO period and poorer post-IPO financial performance. To the extent that we control for alternative explanations and potential endogeneity, our results suggest that the collusion incentive is likely to drive repeated collaborations between underwriters and auditors in the Chinese IPO market. Our findings provide interesting implications for auditors, investors, and regulators seeking to understand the Chinese IPO market. (shrink)

We introduce a type of weighted modal logic with explicit weights both in the language and in the models. The framework has its applications in epistemic logic for reasoning about agents’ knowledge based on their capability, and in deontic logic for agents’ choices based on their deontic capability or utilities. We make use of weighted Kripke models with the weights understood epistemically as a similarity measure between states and deontically as a measure of expected utilities. We present sound and complete (...) axiomatizations for the logics, and discuss variants and possible extensions. (shrink)

Employee resilience is of great significance for organizations to resist pressures, overcome crises, and achieve sustainable development. However, existing research has largely failed to explore its situational triggers. Drawing on social information processing theory and social exchange theory, a cross-level study was conducted to theorize the underlying mechanisms through which authentic leadership facilitates employee resilience. Based on a two-wave time-lagged design, the data were obtained from 85 team leaders and 417 employees in China. The results of the cross-level model showed (...) that authentic leadership was positively related to employee resilience. Perceived insider status and error management climate both played a partial mediating role in linking authentic leadership and employee resilience. Error management climate positively moderated the relationship between perceived insider status and employee resilience. This paper not only contributes to revealing the cross-level effect of authentic leadership on employee resilience but also provides some managerial practices. (shrink)

In the analysis of Shaanxi Red Tourism Development status and existing problems, based on the proposed development of red tourism strategic positioning, strategic objectives and strategic measures, through the implementation of the "1312 Project", that is to cultivate a red tourism capital, northern Shaanxi, Guanzhong , 3 large red tourism sector in southern Shaanxi, and 12 fine line, as the red following the Warriors travel to create a new ace after the Shaanxi tourism products. Based on the analysis of the (...) current situation of Shaanxi red-tourism development, strategic positioning, goals and corresponding measures of developing Shaanxi red-tourism are put forward. Through implementing the project of 1312, which stands for one red-tourism center, three red -tourism regions and twelve red-tourism routes, the red-tourism products of Shaanxi would become new trump tourism products. (shrink)