Shanshan Pan and Zhaohui Randall Xu
The purpose of this paper is to examine whether analysts’ cash flow forecasts improve the profitability of their stock recommendations and whether the positive effect of cash flow…
Abstract
Purpose
The purpose of this paper is to examine whether analysts’ cash flow forecasts improve the profitability of their stock recommendations and whether the positive effect of cash flow forecasts on analysts’ stock recommendation performance varies with firms’ earnings quality.
Design/methodology/approach
To test the authors’ predictions, they identify a sample of 161,673 stock recommendations with contemporaneous earnings forecasts and/or cash flow forecasts and regress market-adjusted stock returns on a binary variable that proxies for the issuance of cash flow forecasts while controlling for contemporaneous earnings forecast accuracy, earnings quality, analysts’ forecast experience and capability and certain firm characteristics. The authors’ test results are robust to alternative measures of recommendation profitability, earnings quality and the use of recommendation revisions instead of recommendation levels.
Findings
The authors find that when analysts issue cash flow forecasts concurrently with earnings forecasts, their stock recommendations lead to higher profitability than when they only issue earnings forecasts, after controlling for analysts’ forecast capability. Moreover, the authors document that the contemporaneous positive relationship between cash flow forecasts and recommendations profitability is stronger for firms with low earnings quality than for firms with high earnings quality. The findings suggest that cash flow forecasts issued by analysts in response to market demand likely play a more important role in firm valuation than cash flow forecasts issued by analysts mainly because of supply-side considerations.
Research limitations/implications
Future research could build on these findings to conduct further investigation on the alternative incentives for analysts’ forecasts of sales growth and long-term growth rates.
Practical implications
These findings may also help investors to better assess the quality of analysts’ research outputs and to identify superior stock recommendations.
Originality/value
This study provides insight into the role of cash flow forecasts in firm valuation and adds fresh evidence to the debate on the usefulness of cash flow forecasts. It extends the stream of research on the characteristics of analyst forecasts and increases our knowledge about the role of analysts in the financial market.
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Lijuan Luo, Siqi Duan, Shanshan Shang and Yu Pan
The reviews submitted by users are the foundation of user-generated content (UGC) platforms. However, the rapid growth of users brings the problems of information overload and…
Abstract
Purpose
The reviews submitted by users are the foundation of user-generated content (UGC) platforms. However, the rapid growth of users brings the problems of information overload and spotty content, which makes it necessary for UGC platforms to screen out reviews that are really helpful to users. The authors put forward in this paper the factors influencing review helpfulness voting from the perspective of review characteristics and reviewer characteristics.
Design/methodology/approach
This study uses 8,953 reviews from 20 movies listed on Douban.com with variables focusing on review characteristics and reviewer characteristics that affect review helpfulness. To verify the six hypotheses proposed in the study, Stata 14 was used to perform tobit regression.
Findings
Findings show that review helpfulness is significantly influenced by the length, valence, timeliness and deviation rating of the reviews. The results also underlie that a review submitted by a reviewer who has more followers and experience is more affected by review characteristics.
Originality/value
Previous literature has discussed the factors that affect the helpfulness of reviews; however, the authors have established a new model that explores more comprehensive review characteristics and the moderating effect reviewer characteristics have on helpfulness. In this empirical research, the authors selected a UGC community in China as the research object. The UGC community may encourage users to write more helpful reviews by highlighting the characteristics of users. Users in return can use this to establish his/her image in the community. Future research can explore more variables related to users.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/OIR-05-2020-0186.
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Ning Zhang, Ruru Pan, Lei Wang, Shanshan Wang, Jun Xiang and Weidong Gao
The purpose of this paper is to propose a novel method using support vector machine (SVM) classifiers for objective seam pucker evaluation. Features are extracted using wavelet…
Abstract
Purpose
The purpose of this paper is to propose a novel method using support vector machine (SVM) classifiers for objective seam pucker evaluation. Features are extracted using wavelet analysis and gray-level co-occurrence matrix (GLCM), and the samples are evaluated using SVM classifiers. The study aims to solve the problem of inappropriate parameters and large required samples in objective seam pucker evaluation.
Design/methodology/approach
Initially, seam pucker image was captured, and Edge detection and Hough transform were utilized to normalize the seam position and orientation. After cropping the image, the intensity was adjusted to the same identical level through histogram specification. Then, the standard deviations of the horizontal image and diagonal image, reconstructed using wavelet decomposition and reconstruction, were calculated based on parameter optimization. Meanwhile, GLCM was extracted from the restructured horizontal detail image, then the contrast and correlation of GLCM were calculated. Finally, these four features were imported to SVM classifiers based on genetic algorithm for evaluation.
Findings
The four extracted features reflected linear relationships among five grades. The experimental results showed that the classification accuracy was 96 percent, which catches up to the performance of human vision, and resolves ambiguity and subjective of the manual evaluation.
Originality/value
There are large required samples in current research. This paper provides a novel method using finite samples, and the parameters of the methods were discussed for parameter optimization. The evaluation results can provide references for analyzing the reason of wrinkles during garment manufacturing.
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Min Qin, Wei Zhu, Jinxia Pan, Shuqin Li and Shanshan Qiu
Enterprises build online product community to expect users to contribute: opinion sharing (content contribution) and product consumption (product contribution). Previous…
Abstract
Purpose
Enterprises build online product community to expect users to contribute: opinion sharing (content contribution) and product consumption (product contribution). Previous literature rarely focused on both. The purpose of this paper is to explain user contribution mechanism by identifying content contribution and product contribution.
Design/methodology/approach
This research chose Xiaomi-hosted online product community (bbs.xiaomi.cn) and Huawei-hosted online product community (club.huawei.com) where users can freely share ideas and buy products at the same time. Data were crawled from 109,665 community users to construct dependent variable measurement, and 611 questionnaires were used to verify research hypotheses.
Findings
The results indicate that both cognitive needs and personal integration needs have a significant positive impact on browse behavior; social integration needs and hedonic needs have a significant positive impact on content contribution behavior. Browse behavior not only directly affects but also indirectly influences product contribution through content contribution behavior.
Research limitations/implications
Findings of this research provide community managers with useful insights into the relationship between content contribution and product contribution.
Originality/value
This study explains the formation mechanism of user product contribution and reveals the relationship between user content contribution and product contribution in online product community. This paper provides a different way of theorizing user contributions by incorporating uses and gratifications theory into the “Motivation-Behavior-Result” framework.
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Honggang Wang, Shanshan Wang, Jia Yao, Ruoyu Pan, Qiongdan Huang, Hanlu Zhang and Jingfeng Yang
The purpose of this paper is to study how to improve the performance of RFID robot system by anti-collision algorithms. For radio frequency identification (RFID) robots operating…
Abstract
Purpose
The purpose of this paper is to study how to improve the performance of RFID robot system by anti-collision algorithms. For radio frequency identification (RFID) robots operating in mobile scenes, effective anti-collision algorithm not only reduces missed reading but also enhances the speed of RFID robots movement.
Design/methodology/approach
An effective anti-collision algorithm is proposed to accelerate tag identification in RFID robots systems in this paper. The tag collisions in the current time slot are detected by a new method, and then further resolve each small tag collision to improve system throughput, rather than the total tags number estimation. After the reader detected the collision, three different collision resolution methods were described and studied, and the situation of missing tag caused by reader moving is also discussed.
Findings
The proposed algorithm achieves theoretical system throughput of about 0.48, 0.50 and 0.61 and simulates to show that the proposed algorithm performance is significantly improved compared with the existing ALOHA-based algorithm.
Originality/value
The proposed RFID anti-collision algorithm is beneficial to improve the moving speed and identification reliability of the RFID robots in complex environments.
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Lifan Chen, Shanshan Zhang, Xiaoli Hu, Shengming Liu and Rujia Lan
As a counterproductive interpersonal work behavior, knowledge hiding inhibits team creativity, hampers collaboration and ultimately has a detrimental impact on organizational…
Abstract
Purpose
As a counterproductive interpersonal work behavior, knowledge hiding inhibits team creativity, hampers collaboration and ultimately has a detrimental impact on organizational performance. Drawing upon the impression management perspective. This study aims to investigate how and when employees’ political skill affects their knowledge-hiding behavior in real work contexts.
Design/methodology/approach
The authors tested the hypotheses using data gathered from 266 employees in China using a time-lagged research design.
Findings
The results indicate that political skill positively influences knowledge hiding through the supplication strategy. Moreover, the positive effect of political skill on this strategy is stronger under higher levels of competition.
Research limitations/implications
A cross-sectional design and the use of self-report questionnaires are the limitations of this study.
Originality/value
The authors contribute to the literature on the emergence of knowledge hiding by identifying an impression management perspective. The authors also contribute to the literature on political skill by exploring the potential negative effects of political skill in the interpersonal interaction. Moreover, the authors enrich the understanding of the literature in competitive climate by introducing the impression management theory and exploring its influence on knowledge floating.
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Lijuan Luo, Yuwei Wang, Siqi Duan, Shanshan Shang, Baojun Ma and Xiaoli Zhou
Based on the perspectives of social capital, image motivation and motivation affordances, this paper explores the direct and moderation effects of different kinds of motivations…
Abstract
Purpose
Based on the perspectives of social capital, image motivation and motivation affordances, this paper explores the direct and moderation effects of different kinds of motivations (i.e. relationship-based motivation, community-based motivation and individual-based motivation) on users' continuous knowledge contributions in social question and answer (Q&A) communities.
Design/methodology/approach
The authors collect the panel data of 10,193 users from a popular social Q&A community in China. Then, a negative binomial regression model is adopted to analyze the collected data.
Findings
The paper demonstrates that social learning, peer recognition and knowledge seeking positively affect users' continuous contribution behaviors. However, the results also show that social exposure has the opposite effect. In addition, self-presentation is found to moderate the influence of social factors on users' continuous use behaviors, while the moderation effect of motivation affordances has no significance.
Originality/value
First, this study develops a comprehensive motivation framework that helps gain deeper insights into the underlying mechanism of knowledge contribution in social Q&A communities. Second, this study conducts panel data analysis to capture the impacts of motivations over time, rather than intentions at a fixed time point. Third, the findings can help operators of social Q&A communities to optimize community norms and incentive mechanisms.
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Zhibang Qiao, Shanshan Lv, Jiyou Gu, Haiyan Tan, Junyou Shi and Yanhua Zhang
The purpose of this paper is to obtain high-solids-content and low-viscosity starch adhesive, and improve bonding strength of the pure starch adhesive.
Abstract
Purpose
The purpose of this paper is to obtain high-solids-content and low-viscosity starch adhesive, and improve bonding strength of the pure starch adhesive.
Design/methodology/approach
Maize starch was treated by hydrochloric acid solution with different concentrations, and acid-thinned starch adhesive was prepared. Polyisocyanate as a crosslinking agent was added to improve water resistance of the pure starch adhesive.
Findings
The physical and chemical properties of the acid-thinned starch adhesive were characterised. Acid hydrolysis did not change structure of starch granules, but increased its crystallinity. After acid modification, starch granules became less smooth and some fragments appeared. Acid treatment had little influence on thermal stability of starch, when acid hydrolysis was not strong. High concentration of HCl solution led to starch granules being destroyed, resulting in decrease in bonding strength. The optimal HCl concentration was 0.5 mol/L. Polyisocyanate addition was beneficial to improve the bonding strength of the acid-thinned starch adhesive.
Research limitations/implications
Acid hydrolysis changed the properties of the starch adhesive.
Practical implications
Acid hydrolysis decreased viscosity of the starch adhesive and improved its solids content, which had a positive effect on the application of the starch adhesive.
Social implications
It was helpful to develop an environment-friendly, natural polymer-based wood adhesive.
Originality/value
The properties of acid-thinned starch and acid-thinned starch adhesive were studied.
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Xia Liu, Yuli Wang, Shanshan Li, Lei Chen, Fanbo Li and Hongfeng Zhang
The objective of this study is to utilize empirical research and analysis to examine the coupling coordination relationship between new quality productivity and higher vocational…
Abstract
Purpose
The objective of this study is to utilize empirical research and analysis to examine the coupling coordination relationship between new quality productivity and higher vocational education sustainable development.
Design/methodology/approach
To this end, an evaluation index system for the new quality productivity and higher vocational education sustainable development was constructed. The panel data of 30 Chinese provinces from 2016 to 2022 were then analyzed using the entropy method, the coupling coordination degree model, the Tobit regression model and Dagum’s Gini coefficient.
Findings
The findings indicate that the coupling coordination degree of new quality productivity and higher vocational education sustainable development exhibited an upward trend, though significant regional disparities were observed, with the highest coupling coordination degree recorded in the eastern region and the lowest in the northeastern region.
Originality/value
The study’s findings further suggest that the three factors of technological innovation level, rationalization of industrial structure and advanced industrial structure have a significant positive influence on the coupling coordination degree, while the level of government intervention has a significant negative influence on the Coupling Coordination Degree. The study posits that augmenting policy support, optimizing the government’s role, reinforcing the drive for technological innovation, and enhancing regional cooperation and exchange are imperative to foster high-quality development of the integration of industry and education between new quality productivity and higher vocational education.
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Lijuan Luo, Siqi Duan, Shanshan Shang and Wenfei Lyu
In crises such as the coronavirus disease 2019 (COVID-19) pandemic, governments need to act in time to lead citizens toward rational reactions and disclose information effectively…
Abstract
Purpose
In crises such as the coronavirus disease 2019 (COVID-19) pandemic, governments need to act in time to lead citizens toward rational reactions and disclose information effectively to the public. This paper aims to understand the content published by the government and identify how citizen engagement relates to content type and emotional valence.
Design/methodology/approach
The grounded theory approach was adopted and nine types of content posted by the government were observed. The data were obtained from “People's Daily”, an official Sina Weibo account representing the voice of the Chinese government, from January 3 to June 22 in 2020.
Findings
The analysis shows that information related to emotional support and social mobilization were the most reposted, while those mentioning immoral and illegal incidents were the most liked and commented. Also, it was found that positive posts tend to attract more likes, yet with fewer reposts than neutral posts.
Originality/value
The authors adopted thematic analysis and focused on the impact of post content and valence on user participation behavior. This study expands the existing literature. The government can improve crises management capability by learning about citizen engagement behaviors on social media.