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In this paper, a dynamic projection scanning lithography (DPSL) technology and system is proposed to achieve cross-scale 3D printing, addressing the limitations of the traditional 3D printing methods that struggle to achieve both large build volumes and high precision. The method achieves a printing accuracy of 10 µm within a build volume of 100 × 100 × 100 mm, and successfully fabricates complex hollow structures and functional models.

DPSL uses a digital micromirror device (DMD)-based digital projector to generate light patterns for light-curing printing. The light patterns are created by sequentially loading the print design frame by frame, forming dynamic light patterns that are scanned line by line across the material surface for solidifying the printing materials. By controlling the scanning range of the digital projector, it is theoretically able to print models of any size. Additionally, by using DMD oblique scanning, the impact of the DMD micromirrors’ shape and arrangement on print accuracy is addressed by overlapping exposures along the scanning direction of the digital projector.

This study shows the printing system resolution of 1.3 µm, while the maximum size of the printing model depends on the system scanning range. Additionally, by using DMD oblique scanning, the impact of the DMD micromirrors’ shape and arrangement on print accuracy is addressed by overlapping exposures along the scanning direction of the digital projector.

This work demonstrates that DPSL based on oblique scanning technology is used to achieve 3D printing with high precision, large area and smoother surface. In addition, a rigid release method is used to achieve a precise printing layer thickness in the top-down printing process. By adhering the release film to the bottom surface of the glass and adjusting the descent distance of the stage for each layer, uniform layer thickness can be achieved for each exposure.

We adopt an information risk view and argue that higher levels of pledge risk incurred by insiders incentivize opportunistic financial disclosure and impair the quality of information available to analysts to forecast firm performance.

We sample Chinese listed companies from 2010 to 2022. Following the literature, we apply established models to measure and test analysts’ forecasting accuracy/dispersion related to controlling shareholders pledging equity and the amount of margin call pressure. Analyst characteristics and nonfinancial disclosures proxied by CSR reports are also examined as factors likely to influence the relationship between pledge risk and analysts’ forecast quality.

We find that analysts’ earnings predictions are less accurate and more dispersed as the proportion of shares pledged (pledge ratio) increases and in combination with greater margin call pressure. Pledge ratios are significantly associated with several information risk proxies (i.e. earnings permanence, accruals quality, audit quality, financial restatements, related party transactions and internal control weaknesses), validating the channel through which equity pledges undermine analysts’ forecast quality. The results also demonstrate that forecast quality declines for a wide variety of analysts’ attributes, including high- and low-quality analysts and analysts from small and large brokerage firms. Importantly, nonfinancial disclosures, as proxied by CSR reporting, improve analysts’ forecasts.

We extend the literature by demonstrating that incremental pledge risk increases non-diversifiable information risk; all non-pledging shareholders pay a premium through more diverse and less accurate earnings forecasts. Our study provides important policy implications with economically significant costs to investors associated with insider equity pledges. Our results highlight the benefits of nonfinancial disclosures in China, which has implications for the current debate on the global convergence of CSR reporting.

This paper examines the pre-factors of college students’ entrepreneurial behaviors and how their background characteristics affect corporate financial performance in high-tech businesses.

About 67 high-tech businesses in China focusing on technical innovation from the Guotai’an database are selected to carry out empirical analysis.

It is observed that the age, educational and professional backgrounds of college entrepreneurs profoundly influence their ventures geared toward high-tech innovation. Moreover, the transformation abilities, managerial proficiency and growth capabilities, which characterize these ventures, notably affect business performance. They further serve as a moderator in the relationship between the entrepreneurial backgrounds of college students and the overall business performance of their enterprises.

It insinuates novel strategic avenues for collegiate entrepreneurs’ entrepreneurial mindset and industrial positioning. Moreover, our findings will not only augment the practical research in the realm of collegiate entrepreneurship but also enhance the study of technological innovation theories, thereby offering further insight and guidance for collegiate entrepreneurs’ innovative endeavors and entrepreneurial pursuits.