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This research investigates the effect of audit report lag on the cost of equity capital. We argue that an extended audit report lag reduces the value of information and raises concerns for investors, resulting in an increased cost of equity capital.

We hypothesize that audit report lag increases the firm cost of equity capital. We conduct ordinary least squares (OLS) regression analyses to examine our hypothesis. Finally, we also perform a range of sensitivity tests to examine the hypothesis and robustness of findings.

Using a sample of the listed US firms from 2003 to 2018, we find that firms with higher audit report lag have a higher cost of equity capital. Our findings are economically significant as one standard deviation increase in audit report lag raises 3.82 basis points of cost of equity capital. Furthermore, our results remain robust to endogeneity concerns and alternative proxies for the cost of equity capital measures. Finally, we confirm that audit report lag increases the firm cost of equity capital through increasing information asymmetry and future financial restatement as a mediating channel.

We contribute to the theoretical discussion about the role of audit report lag and investors' perceptions. Overall, our results suggest that audit report lag affects a firm cost of equity capital.

This paper aims to examine the association between environmental disclosure and waste performance.

This study is based on a sample of S&P 500 firms over a nine-year period from 2010 to 2018. The pooled ordinary least squares (OLS), logistic, propensity score matching (PSM) and instrumental variable-generalized method of moments regressions analyses have been used to examine the data.

The findings show a significant positive relationship between waste performance and environmental disclosure, suggesting that firms with superior waste performance tend to disclose more environmental information. Further, the authors distinguish between “hard” and “soft” environmental disclosures and find that the effect of waste performance is consistently positive and significant for each type. The observed positive and significant association of waste performance with environmental disclosure remains unchanged, regardless of the industry affiliation of firms, although firms from industries that are less environmentally sensitive provide a slightly higher level of environmental disclosure. The authors also explore possible channels that may explain the association between waste performance and environmental disclosure and find that litigation risk and cash holdings positively moderate the association. The finding remains robust to a number of alternative estimation approaches.

Overall, the authors present important evidence that waste performance is an important indicator of environmental disclosure. The findings are useful for corporations and stakeholders and have important implications around the globe as the authors continue to grapple with the ongoing issue of waste.

The authors empirically examine the impact of the stand-alone risk committee on corporate risk-taking and firm value.

The authors argue that the existence of a stand-alone risk committee enhances the quality of corporate governance, which reduces corporate risk-taking and strengthens the firm value that might improve investor protection.

The authors find corporate risk-taking decline significantly for firms that have a stand-alone risk committee compared with firms that have a joint audit and risk committee. The authors also find that the presence of a stand-alone risk committee is positively associated with firm value.

The evidence is consistent with the proposition that firms with a stand-alone risk committee can effectively evaluate potential risks and implement a proper risk management system.

This is the first paper that investigates the association between the existence of a stand-alone risk committee and firm risk-taking in a multi-industry setting. Also, our research extends the association between a stand-alone risk committee and firm value.

The purpose of this paper is to conceptualize and make sense of the internationalization of the triple helix (TH) model.

As this study is exploitative in nature, an inductive approach is adopted in data collection and data analysis. The Danish TH's experiences in China are used as empirical evidences. Primary data are collected from in-depth interviews and discussions, filed observations, and personal experiences. Secondary data such as the government policies and documents, companies’ annual reports, and reliable web sites are also included.

The paper conceptualizes the internationalization of the TH into three stages: pioneering stage, exploration stage, and integration stage. In the pioneering stage, the authors see the establishment of each of the three helix spheres abroad, i.e. internationalization of companies, universities and governments; in the exploration stage, the three spheres start to interact abroad and collaborate with their counterparts in the host country; in the integration stage, helix to helix collaboration is emerging.

This study has both theoretical and practical significance. It expands the existing TH theory by proposing a model for the internationalization of it. On the other hand, this study gives implications regarding utilizing global knowledge resources and enhancing innovation performances overseas.

The purpose of this study is to propose a path-planning strategy based on the velocity-virtual spring method to realize collision-free tasks in dynamic environments and further improve the effect.

By considering factors such as the relative velocity and direction of dynamic obstacles, the repulsive force of the robot is improved, thereby enhancing the adaptability of the strategy and achieving flexible and effective avoidance against dynamic obstacles. The attraction formula has been designed to allow the robot to have better smooth changes and higher gradients near the target, helping robots better reach the target and follow formations. Moreover, to meet the demands of the various stages during the driving process, the null space behavioral control is used to solve multi-task conflict problems and strengthen formation coordination and control.

Comparison of the planning path and formation effects through simulation and physical experiments, the results of this study show that the algorithm proposed can successfully maintain formation stability and plan smooth and safe paths in static or dynamic environments.

This paper proposes a path-planning strategy based on the velocity-virtual spring method to plan collision-free paths for formation in dynamic environments.

The purpose of this paper is to present a visual servo tracking strategy for the wheeled mobile robot, where the unknown feature depth information can be identified simultaneously in the visual servoing process.

By using reference, desired and current images, system errors are constructed by measurable signals that are obtained by decomposing Euclidean homographies. Subsequently, by taking the advantage of the concurrent learning framework, both historical and current system data are used to construct an adaptive updating mechanism for recovering the unknown feature depth. Then, the kinematic controller is designed for the mobile robot to achieve the visual servo trajectory tracking task. Lyapunov techniques and LaSalle’s invariance principle are used to prove that system errors and the depth estimation error converge to zero synchronously.

The concurrent learning-based visual servo tracking and identification technology is found to be reliable, accurate and efficient with both simulation and comparative experimental results. Both trajectory tracking and depth estimation errors converge to zero successfully.

On the basis of the concurrent learning framework, an adaptive control strategy is developed for the mobile robot to successfully identify the unknown scene depth while accomplishing the visual servo trajectory tracking task.

The compilation of a core collection for Jewish reference sources raises a number of questions which must be confronted and answered. Should a Jewish reference collection be a listing of sources for the study of Judaism primarily as a religion, or primarily as a cultural group? Should the sources be leaning toward Biblical and Rabbinic studies or towards history, art, and music? For the purposes of this bibliography, I have chosen to concentrate on the cultural aspects of Judaism and Jews as a group to be studied. As such I have elected, somewhat arbitrarily, to exclude the primary sources of the study of Judaism as a religion, these sources being a Jewish version of an English translation of the Bible, an English copy of the Talmud, liturgies, and all of the supplementary primary sources which would be necessary. It is hoped, instead, that those items would be found in the religion section of the reference collection. Nevertheless, this core collection will provide the tools for any interested person seeking to include such sources in their Judaic reference collection.