It is widely accepted that quid pro quo or favoritism exists in bookbuilding IPOs where the securities underwriter has share allocation discretion, and that auctioned IPOs should be largely free from quid pro quo because the underwriter does not have share allocation discretion. Using proprietary data on IPO auctions from China and a regulatory regime change on share allocation, we show that when the share allocation rule shifts from pro rata to lottery draw (that makes quid pro quo valuable to (...) a bidder), mutual fund families having stronger pre-shift brokerage commission ties with the underwriter submit bids later, place more strategic bids, have more bids qualified for the allocation round, and are more likely to receive share allocation than other fund families. These patterns are not apparent in fund families that possess a robust business culture. The evidence is consistent with the existence of quid pro quo in IPO auctions facilitated by the underwriter’s leakage of confidential bidding information in some fund family and underwriter pairs. This unethical practice not only creates conflicts of interest, jeopardizes fair play, but also discourages information production and affects accurate valuation. (shrink)

Drawing on the theory of cognitive-affective processing system and that of construal level, we propose a moderated mediation model illustrating the relationship among abusive supervision, shame, construal level, and work withdrawal. We tested this model with a two-source time-lagged survey of 387 employees from 129 work teams in central and East China. Results revealed that abusive supervision had a positive association with the emotion of shame and supported the mediating role of shame linking abusive supervision to work withdrawal. Besides, our (...) findings supported the buffering effect of construal level on the shame-work withdrawal relationship as well as the indirect relationship between abusive supervision and work withdrawal channeled through the emotion of shame. (shrink)

BackgroundInstitutional Review Boards (IRBs) play a vital role in safeguarding the rights and interests of both research participants and researchers. However, China initiated the establishment of its own IRB system relatively late in comparison to international standards. Despite commendable progress, there is a pressing need to strengthen the organizational capacity building of Chinese IRBs. Hence, this study aims to analyze the key factors driving the enhancement of organizational capacity within these committees.MethodThe cross-sectional survey for this research was conducted from July (...) 2020 to January 2022. Following the statistical grouping based on the "2020 China Health Statistical Yearbook", a systematic investigation of IRBs in various provinces of China was carried out. In-depth interviews and questionnaire surveys were conducted with the chairpersons and administrative executives (or secretaries) of highly cooperative IRBs. Subsequently, data were collected from 107 IRBs. Qualitative Comparative Analysis (QCA) was employed as the method to analyze the factors influencing the organizational capacity of medical ethics committees and explore the diverse combinations of these factors.ResultsThrough a singular necessary condition analysis, the variable "protection of rights and interests" emerges as a critical factor contributing to the robust construction of Institutional Review Boards Institutional Review Boards (IRBs). Conversely, the variables of "lack of member ability, absence of review process, and deficiency in the supervision mechanism" collectively constitute a sufficient condition leading to weaker IRB construction. The state analysis uncovers three interpretation modes: member ability-oriented (M1), system process-oriented mode (M2), and resource system-oriented mode (M3).ConclusionsThe results of this study are effectively explicable using the "Triangular Force" model proposed for the hypothesis of IRBs' organizational capacity, which provides a solid foundation for the development of organizational capabilities in IRBs. To enhance the organizational capacity of IRBs in China, it is imperative to elevate the competence of committee members and strengthen team development. This can be achieved by establishing a comprehensive regulatory framework and refining procedural protocols. Moreover, clarifying the organizational structure and optimizing resource allocation are essential steps in bolstering the overall organizational capabilities of these committees. (shrink)

本书以系统辨证思维方式为导向,运用现代系统科学方法论,从“广角镜”式的多维立体视野出发,综合考察了囊括天体、地球、生物、人类在内的广阔世界之现状和未来。.

In this paper, an in-depth study of interactive visual communication of network topology through non-line-of-sight congestion control algorithms is conducted to address the real-time routing problem of adapting to dynamic topologies, and a delay-constrained stochastic routing algorithm is proposed to enable packets to reach GB within the delay threshold in the absence of end-to-end delay information while improving network throughput and reducing network resource consumption. The algorithm requires each sending node to select an available relay set based on the location (...) of its neighbor nodes and channel state and computes transfer probabilities for each node in the relay set combining the remaining delay of the packet with the distance from the relay node to GB. Based on the obtained transfer probability and local channel state, the sending node passes the packet to the relay node. The convergence of the algorithm is proved and its performance is verified by simulation. The first part of the algorithm is based on the greedy algorithm to deploy and locate the network flying platform nodes with the goal of efficient coverage of the network flying platform nodes, considering the ground base station services. As the delay on each link varies due to the change of channel state, the source and relay nodes asynchronously update the data generation rate and the pairwise parameters based on the received local information and use the obtained optimal values to pass the packets to GB. (shrink)

Educational psychology focuses on the laws of change in the knowledge, skills, and individual psychology of the educatees in the process of education and teaching. Writing teaching is a key and difficult point in literature teaching. Nowadays, it is common for students to be afraid and tired of writing in school literature education. In view of these problems, the present work optimizes the teaching mode of writing from the perspective of reconstructing the writing subject. Through literature research and interdisciplinary analysis, (...) a questionnaire is designed to analyze the literary situation and the reconstruction of writing subjects in literary education. The questionnaire is aimed at three aspects, namely the hidden educational effect of teachers’ personality charm, the influencing factors of students’ psychology and students’ learning effect, and the influencing factors of psychology of the communication between teachers and students and teachers’ teaching effect. Then, the changes of students’ performance in literary class in these three aspects before and after using the teaching strategy of writing subject reconstruction are analyzed. Finally, the changes of students’ grades in the literary course are investigated. In this experiment, a total of 400 questionnaires were distributed, and a total of 389 questionnaires were collected. The survey results show that the number of students who feel the classroom atmosphere is active increases by 10%, the number of students who listen carefully and take notes increases by 7%, and 45% of students have improved their grades. Besides, after the implementation of the teaching strategy, most students change their attitude to the literature course, become more active, and significantly improve their motivation for learning. This study has a certain reference value for the analysis of literary situations and the reconstruction of writing subjects in literary education from the perspective of educational psychology. (shrink)