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Firms’ real activities management (RAM) can have a more detrimental effect on firms’ future performance than accrual earnings management. This paper aims to examine whether analysts, who play an important role as information intermediaries, understand the negative effect of RAM on firms’ future performance and respond to it accordingly.

The authors investigate whether analysts lower their earnings forecasts and stock recommendations of the firms with RAM. The authors measure RAM by examining firms’ abnormal decreases in discretionary expenses, abnormal increases in production and abnormal decreases in cash flow from operations following prior literature.

The authors find that after controlling for earnings surprises and other important firm characteristics, analysts lower their forecasts of future annual earnings and stock recommendations of the firms that show signs of RAM.

First, as in other RAM studies, the results in this study are subject to measurement errors inherent in the estimation of RAM (i.e. abnormal production costs, abnormal CFO and abnormal discretionary expenditures). Second, we include only firm-year observations that barely make positive income in our samples following the previous study. This sample selection criterion helps increase the power of the test by examining the “suspect firms group,” which are more likely to engage in earnings management. However, one can challenge that our findings on the association between RAM and analysts’ reactions could be only case-specific and cannot be generalized.

This study contributes to the literature on earnings management and especially on RAM. Specifically, none of the previous studies clearly examines whether analysts understand the negative impact of RAM on firms’ future performance and respond accordingly, although there are studies showing the negative association between RAM and firms’ future operating performance and studies showing the negative association between analysts following and RAM. Thus, filling the gap, this study provides a specific reason for the negative association between the analyst following and real earnings management presented in previous studies.

The findings will be of interest to regulators, who are concerned about the potential negative consequences in which tighter accounting standards can result. For example, Ewert and Wagenhofer (2005) theoretically demonstrate that tighter accounting standards can prompt more RAM instead of accounting earnings management. The study provides important evidence supporting that such suboptimal operating activities are closely watched by analysts and are potentially penalized by the market. If the market is able to detect RAM and allocate fewer resources to the firms that engage in it, then the concerns associated with the substitution effect between accrual-based earnings management and RAM can be diminished.

Prior research suggests that tighter accounting regulations (e.g. the Sarbanes-Oxley Act) prompt more RAM than accounting earnings management. The study provides evidence supporting that such suboptimal operating activities are closely watched by analysts and are potentially penalized by the market.

Man has been seeking an ideal existence for a very long time. In this existence, justice, love, and peace are no longer words, but actual experiences. How ever, with the American preemptive invasion and occupation of Afghanistan and Iraq and the subsequent prisoner abuse, such an existence seems to be farther and farther away from reality. The purpose of this work is to stop this dangerous trend by promoting justice, love, and peace through a change of the paradigm that is inconsistent with justice, love, and peace. The strong paradigm that created the strong nation like the U.S. and the strong man like George W. Bush have been the culprit, rather than the contributor, of the above three universal ideals. Thus, rather than justice, love, and peace, the strong paradigm resulted in in justice, hatred, and violence. In order to remove these three and related evils, what the world needs in the beginning of the third millenium is the weak paradigm. Through the acceptance of the latter paradigm, the golden mean or middle paradigm can be formulated, which is a synergy of the weak and the strong paradigm. In order to understand properly the meaning of these paradigms, however, some digression appears necessary.

Examines the demographic transformation of Orange County, Los Angeles, USA and the designation of districts known as Little Saigon and Koreatown. Contends that Orange County is fifth in the USA for fastest growing Asian communities. Uses a comparative social ecology approach to show how Koreans and Vietnamese have managed to establish their ethnic communities. Finally discusses the challenges faced in sustaining their communities, given the resistance from Anglo residents for “foreigners”.

The integration of technology in the cruise ship industry offers tourists a valuable opportunity to engage with robotic services and entertainment while on board. This research aims to explore how cruisers’ perceived enjoyment of robotic services significantly influences disconfirmation and the emotional appeal of robots.

In total, 500 cruisers traveling from Florida, who had robotic experiences on Royal Caribbean and Mediterranean Shipping Company (MSC) ships, participated in the data collection through the online platform Prolific, a reputable platform for academic research with a large and diverse participant pool; 404 data sets were analyzed through partial least squares-structural equation model.

The findings underscore the positive impact of robotic services on cruise travelers’ enjoyable experiences with robots not only enhance their emotional appeal but also contribute to a stronger positive disconfirmation effect. Moreover, customer engagement was found to moderate the relationship between perceived enjoyment of robotic entertainment services and disconfirmation significantly and positively, impacting the overall satisfaction of cruise travelers.

This research takes a unique approach to the subject, offering a sentiment-based understanding of customer experiences and satisfaction with robotic entertainment services on cruise ships. Its novel perspective on the emotional appeal of these services makes it a compelling read for those interested in the intersection of technology and hospitality.

Man has been seeking an ideal existence for a very long time. In this existence, justice, love, and peace are no longer words, but actual experiences. How ever, with the American preemptive invasion and occupation of Afghanistan and Iraq and the subsequent prisoner abuse, such an existence seems to be farther and farther away from reality. The purpose of this work is to stop this dangerous trend by promoting justice, love, and peace through a change of the paradigm that is inconsistent with justice, love, and peace. The strong paradigm that created the strong nation like the U.S. and the strong man like George W. Bush have been the culprit, rather than the contributor, of the above three universal ideals. Thus, rather than justice, love, and peace, the strong paradigm resulted in in justice, hatred, and violence. In order to remove these three and related evils, what the world needs in the beginning of the third millenium is the weak paradigm. Through the acceptance of the latter paradigm, the golden mean or middle paradigm can be formulated, which is a synergy of the weak and the strong paradigm. In order to understand properly the meaning of these paradigms, however, some digression appears necessary.

The purpose of this paper is to test the impact of symbolic and functional incongruity on brand hate. According to self-congruity theory, symbolic and functional congruence are a critical phenomenon in consumer buying decisions. Therefore, the present study develops a theoretical framework based on self-congruity theory to examine the key determinants of brand hate.

Data were collected only in fast-food chain franchises in the capital city territory of Pakistan. Therefore, it is hard to generalize the findings of this research for customers from different cultural backgrounds.

The results of the study reveal that symbolic and functional incongruence are the primary factors responsible for brand hate among Pakistani fast-food customers. Customers carefully consider both self-image and product attributes when purchasing products.

The research uses the cross-sectional method, which limits the findings’ usefulness in other sectors.

The current research helps policymakers understand the key determinants of brand hate, showing that symbolic incongruence is the primary antecedent. Therefore, policymakers and corporate leaders should consider that Pakistan is an Islamic country where consumer choices of food are not only derived from food quality, food hygiene and service quality, but also the symbolic image (i.e. halal food) is a vital determinant of consumption.

This study contributes to the literature by discussing the above issue and presenting quantitative data. This research extends the literature by testing and validating a conceptual model that includes two types of congruence (symbolic and functional) to study brand hate. The proposed conceptual model provides a novel, theoretical, self-congruity point of view on brand hate.

Information and communication technologies (ICTs) are a key player in the food services and restaurants sector; thus, the aim of this work consists in studying the previous research on ICTs in food services and restaurants in the context of tourism and hospitality through a systematic literature review.

The systematic literature review is performed on full papers published in journals included in the Journal Citation Report of the WoS in the category of Hospitality, Leisure, Sport and Tourism. A total of 165 articles from 28 journals are analyzed, following different criteria, such as the research methods, perspectives, statistical techniques, geographical focus, topics, technologies, authors and universities.

The restaurant sector is more and more based on the creation of experiences and ICTs, through their multiple possibilities, can undoubtedly contribute to adding value to the simple meal and create and recreate experiences to attract and retain customers who are increasingly sophisticated and hooked on ICTs. ICTs are basic for managers taking decision at the highest level in food services and restaurants, so ICTs should not be seen as a technical tool but as an essential element for top management.

This paper examined articles from very well-known tourism and hospitality journals, leaving aside others as well as different publication formats such as books or papers presented at conferences.

A significant contribution made with this paper is the availability of a list of topics in the context of ICTs in food services and restaurants. These topics are classified into three areas (Consumers, Suppliers and Environment and Tendencies) that can serve as a future research framework. The paper also provides useful information to restaurant managers about ICTs, to researchers for their future projects and to academics for their courses.

To solve the shortcomings of existed search and rescue drones, search and rescue the trapped people trapped in earthquake ruins, underwater and avalanches quickly and accurately, this paper aims to propose a four-axis eight-rotor rescue unmanned aerial vehicle (UAV) which can carry a radar life detector. As the design of propeller is the key to the design of UAV, this paper mainly designs the propeller of the UAV at the present stage.

Based on the actual working conditions of UAVs, this paper preliminarily estimated the load of UAVs and the diameters of propellers and designed the main parameters of propellers according to the leaf element theory and momentum theory. Based on the low Reynolds number airfoil, this paper selected the airfoil with high lift drag ratio from the commonly used low Reynolds number airfoils. The chord length and twist angle of propeller blades were calculated according to the Wilson method and the maximum wind energy utilization coefficient and were optimized by the Asymptotic exponential function. The aerodynamic characteristics of the designed single propeller and coaxial propeller under different installation pitch angles and different installation distances were analyzed.

The results showed that the design of coaxial twin propellers can increase the load capacity by about 1.5 times without increasing the propeller diameter. When the installation distance between the two propellers was 8 cm and the tilt angle was 15° counterclockwise, the aerodynamic characteristics of the coaxial propeller were optimal.

The novelty of this work came from the conceptual design of the new rescue UAV and its numerical optimization using the Wilson method combined with the maximum wind energy utilization factor and the exponential function. The aerodynamic characteristics of the common shaft propeller were analyzed under different mounting angles and different mounting distances.

The purpose of this paper is to examine the influence of quality perception on customers’ repurchase behaviour in home internet services. Specifically, it was found that information quality, and privacy affected customers’ commitment and perceived value which were directly related to customer behavioural loyalty.

In order to achieve the research objectives, a model is proposed. The literature review and formulation of hypotheses related to each construct are then discussed. An online survey was conducted. The final usable sample size was 2,059.

Information quality was a stronger determinant of commitment and value when compared with privacy. The positive indirect effects of information quality and privacy on behavioural loyalty were also confirmed.

The research provides practical implications which can be used to design effective marketing strategies to retain customers in the residential internet market. Moreover, current issues of high-customer churn rate can be resolved. In general, the study confirms that putting customers’ privacy in the heart of company operations is critical for an internet service provider’s success and long-term sustainability.