Search results

In this study, we examine the influence of a firm’s environmental, social, and governance (ESG) performance on analysts’ stock recommendations and earnings forecast accuracy in the Chinese context.

We take a textual analysis approach to analyst research reports issued between 2010 and 2019, and differentiate between two distinct analyst categories: “sustainability analysts,” which refer to those more inclined to incorporate ESG information into their analyses, and “other analysts.”

Our evidence indicates that sustainability analysts tend to be significantly more likely than others to provide positive stock recommendations and demonstrate enhanced accuracy in forecasting earnings for companies with superior ESG performance. Our additional analyses reveal that this finding is particularly prominent for analysts who graduated from institutions emphasizing the protection of the environment, those recognized as star analysts, those affiliated with ESG-oriented brokerages, and forecasts made by analysts in the later part of the sample period. Our findings further indicate that sustainability analysts exhibit a more pronounced negative response when confronted with a negative ESG event.

In general, the evidence from this study reveals the interplay between ESG factors and analyst behavior, offering valuable implications for both financial analysts and sustainable investment strategies.

Reinforced S-shape bellows are novel metal bellows with high pressure resistance. Displacement compensation ability is a key index in the design of metal bellows. Axial-tension-compression deformation and bending deformation are two typical displacement compensation forms. Thus, analysis of axial and bending stiffness is important in structure design.

In this study, theory analytics of axial tension and compression stiffness of reinforced S-shaped bellows structure is derived, and the load-displacement relationship during axial deformation is obtained by correcting the geometric parameters of waveform during axial tension and compression deformations. On the basis of them, the relationships of bending stiffness with axial tensile and compression stiffness under the action of bending loading are constructed, and thus, the theory analytics of bending stiffness is realized for S-shaped bellows.

This theory analytics is verified by comparing the results of theory analytics with those of numerical simulation for a few typical examples. An investigation on the axial and bending non-linear mechanical behaviors of multi-layer-reinforced S-shaped bellows was also carried out by numerical simulation and experiment, and the experimental results verified the reliability of the analysis method.

It is found that non-linearity behavior occurs greatly during the first loading course of reinforced S-shaped bellows, and the structure is strain-strengthened due to plastic deformation; however, stable stiffness characteristic is exhibited during the succeeding cyclic-loading course.

Against the backdrop of the convergence and divergence debate in comparative management studies, this study aims to explore Chinese-style management and proposes the husband-housewife-patriarchy (HHP) model of management, emphasizing the uniqueness of Chinese management practices that are differentiated from Western- and Japanese-oriented paradigms while advocating a progressive and practical approach to understanding and applying these principles [1].

This study combines a “bottom-up” and “top-down” logic of analysis to reexamine the general managerial approaches, with particular attention toward human resource management as a stream within the whole management spectrum across China, the USA, Europe and Japan, reaching a typological representation of the above prototypes, which is coined as the HHP model of management. In doing so, this paper proffers a novel lens for revisiting these models and advancing management innovation in China.

Chinese-style management is characterized by an array of unique approaches diverging from Western and Japanese models. The HHP management model is presented as a new framework for reinterpreting these distinctions and encouraging management innovation within China, highlighting the potential of Chinese management practices in contributing to global management knowledge.

This paper offers novel perspectives on Chinese-style management and introduces the HHP management model, enriching the discourse on comparative management and local innovation in the managerial arena.

The purpose of this study is to campare the corrosion behavior of Az91 films and bulk sample, in the objective to provide reference for the corrosion resistance improvement of Mg alloys.

AZ91 films with various thickness values are produced by magnetron sputtering technique, and the corrosion behavior was characterized by immersion tests and electrochemical measurements.

The AZ91 films exhibited a preferred orientation with basal planes parallel to the surface and increased densification with the increase of thickness, and a superior corrosion resistance for the AZ91 films compared with the bulk sample.

The preferred (0002) basal planes in AZ91 films benefited the corrosion resistance and the nanoscale AZ91 films facilitated the development of a dense passivation film. Consequently, AZ91 film exhibited a superior corrosion resistance.