The Impact of Auditor-Client Traffic Convenience on Earnings Management in China

YIN, Hong,DU, Yanbin Korea Distribution Science Association 2021 Asian journal of business environment Vol.11 No.4

Purpose: This study aims to investigate the impact of auditor-client traffic convenience on accrual -based and real earnings management of the client firms. Research design, data and methodology: Using a sample of firms listed in Shanghai and Shenzhen Stock Exchanges over the period of 2007 to 2018, this paper empirically investigates the association between auditor-client traffic convenience and earnings management. We use three measures of auditor-client traffic convenience: railway traffic convenience, expressway traffic convenience, and air traffic convenience. The accrual-based earnings management is measured by abnormal accruals estimated by industry and year using the Modified Jones Model. Results: Findings indicate that traffic convenience is conducive to detecting and restraining positive accrual earnings management and real earnings management. After changing the measurement of independent variable and dependent variable, including potential omitted variables, the results are statistically unchanged. Further, the research shows that traffic convenience can not only improve audit quality, but also lead to higher fee premiums. Auditors didn't share with clients the cost reduction benefits caused by traffic convenience. Conclusions: Traffic convenience provides auditors with easy access to the client firms, alleviating the information asymmetry and improving corporate earnings quality. The findings have implications for regulators, audit practitioners and stakeholders.

The Effect of Maturity Mismatch between Investing and Financing on Audit Pricing

YIN, Hong,ZHANG, Ruo Nan Korea Distribution Science Association 2020 The Journal of Asian Finance, Economics and Busine Vol.7 No.9

This research investigates the consequences of the increase in corporate use of short-term debt in China over the past decades. Using a sample of Chinese firms from 2007 to 2018, we empirically explore the effect of corporate use of short-term debt for long-term investment (SFLI) on audit pricing. We first examine the relationship between SFLI and audit pricing for different groups of firms. Then, we investigate the role of the increase in short-term debt in alleviating principal-agent conflicts and reducing agency costs. We have four primary empirical findings. First, auditors tend to charge SFLI clients higher fees. Second, the negative relationship between SFLI and audit fee is found in private firms, firms audited by Chinese domestic auditors, and firms with higher information asymmetry. Third, the time auditors spent on SFLI clients is significantly more than that spent on non-SFLI clients, suggesting that the decrease in audit fee is not due to the decrease in cost. Fourth, SFLI significantly reduces the agency costs of the firm, which auditors regard as a low risk signal and grant an audit fee discount. Our findings suggest that the decrease in debt maturity, not only influences managerial behaviors, but also influences auditors' risk assessment and pricing decisions.

China and the Obstacles to the Northeast Asian Security Multilateralism

Shi Yinhong 한반도선진화재단 2011 한반도선진화재단 기타 단행본 Vol.- No.-

China, the Nuclear Problem, and Prospect of the Peninsular : Persistent Dilemmas with a Promising Future

Shi Yinhong 부산대학교 중국연구소 2010 Journal of China Studies Vol.8 No.-

Focus-Directed RGBD Image Stylization

Xu Yinhong(쑤인홍),Yunjin Lee(이윤진) 한국HCI학회 2014 한국HCI학회 학술대회 Vol.2014 No.2

BACK TO THE FUTURE

SHI YINHONG 한반도선진화재단 2010 한반도선진화재단 기타 단행본 Vol.- No.-

China and the United States in East Asia

Shi Yinhong(스인홍) 한국전략문제연구소 2012 전략연구 Vol.55 No.-

최근 몇 년 동북아, 동남아를 포함한 서태평양지역에서 중국의 외교적 영향력이 급속도록 감소하였다. 이는 중국의 일본, 한국, 동남아국가들과의 관계 불안정에서 기인한 것이었다. 이러한 중국의 영향력 하락은 상대적으로 미국의 이 지역에서의 영향력 확대로 이어졌다. 2010년 센카쿠열도/댜오위다오에서 영해를 침범한 혐의로 일본에 구속됐던 중국인 선장을 석방하는 과정에서 보여준 중국의 대일 압박태도는 일본의 대중 감정을 악화시켰다. 천안함 사건 이후 서해에서의 한미 합동해상군사훈련 실시에 대한 중국의 강경한 대응은 한국으로 하여금 미국과의 동맹을 더욱 중시하게 하였다. 중국과 필리핀, 베트남 등 동남아 국가들과의 해양, 영토분쟁 및 중국 해군의 장거리 투사능력 확대는 중국을 군사적 위협으로 보는 시각을 강화하였다. 중국의 전반적인 국력상승과 세련되지 못한 독단적인 외교행태는 아시아 국가들의 대 중국 의구심과 우려를 확산하였다. 미국은 이 지역의 반중 정서를 잘 활용함으로써 용이하게 이 지역의 ‘맹주’로 복귀하였다. 실제 남중국해 갈등 직후인 2010년 7월 베트남 하노이에서 개최된 아세안지역안보포럼에서 힐러리 클린턴 미 국무장관은 항행의 자유라는 명분하에 역내 국가들의 지지를 확보하였다. 미국은 경제력과 금융력이 약화되었지만 연성파워를 이용한 전방위적인 대중 공세로 이 지역에서의 대중 우위를 확보하였다. 한편, 지역내 반발과 미국의 귀환은 중국외교에 큰 어려움을 가져왔다. 이러한 배경에는 여러 이유가 있겠지만 중국외교의 정책결정의 복잡성과 과정에서의 문제점에 기인한 바 크다. 즉, 개별 외교사건의 중요성 여부의 판단 혼란과 미숙한 대응, 정부내 관련 부처간 조율의 부족, 또 마오쩌둥과 덩샤오핑과 비교할 때 떨어지는 현 지도부의 정책장악력도 그 원인이었다. 관료, 군부, 정부, 국영기업 등 중국의 신엘리트그룹들의 이익집단화와 이들의 대외정책 결정과정에 미치는 영향도 무시할 수 없었다. 또 인민과 미디어의 민족주의적 성향은 중국정부으로 하여금 파플리즘적 강경한 대응을 하였고, 급기야 미국을 이 지역에 다시 불러들이는 꼴이 되었다. 그러나 인민들의 불만에도 불구하고 최근 중국정부는 좀 더 거시적인 시각에서 문제를 해결하고자 고민하고 있으며, 실제로 동남아와 동북아 지역 국가들에게 화해의 제스처를 보내고 있다. 중국정부는 영토분쟁중인 국가들과는 기존의 “논쟁유보 공동개발(?置??、共同??)” 입장을 재강조함으로써 마찰을 최소화하고자 하며, 역내 기타 국가들과는 가능한 갈등을 축소하며, 무엇보다도 미국과는 북한문제 등에 협력함으로써 미국에 대중 압박 빌미를 주지 않으려 한다. 비록 중국외교에 적지 않은 문제점이 있음에도 이러한 정책의 변화는 중국외교의 잠재력과 능력이 여전히 유효함을 보여준다. 중국은 외교정책의 철학, 소프트파워/스마트파워, 대전략차원에서 미국과 비교해 많이 부족하지만, 여전히 균형감각을 가지고 적절히 작동하고 있다. 중국은 국가지도자들의 전략과 의지 및 대응역량 차원에서 나름대로 외교적 자산과 능력을 가지고 있으며, 이에 근거해 향후 좀 더 의미 있는 외교적 경쟁력을 갖추고 가시적인 성과를 낼 수 있을 것으로 보인다. Contrary to the picture of the game a few years ago, China’s diplomatic influence and effectiveness in its immediate periphery has been shrunk for a time, while the United States won in the same region so much new advantages diplomatically and strategically. These U.S. achievements are in a great extent due to their vitally important “chanced” conditions, conditions or conveniences not created but readily used by the policy makers in Washington. They include among other things China’s own problem emerged in the most recent years in foreign policy orientation, diplomatic manner, and policy-making mechanism. In its relations with East Asian neighbours at large, the newly Chinese “triumphalism” is obvious on the part of public as well as policy elites, though for the latter the degree is indeed remarkably less. However, it is still much more complicated in performance and causes than what has been generally perceived outside China. For the causes of this complex “triumphalism,” the most important one should be found in “G2 the Chinese version,” a really untraditional conception in the contemporary Chinese foreign policy orientation that should be put into question and analysis. Besides, there has been also national dynamics in the related decision-making, i.e., rising popular nationalism reinforced bymuch less regularized mass media and bureaucratic in-coordination. The Chinese leaders and government have been indeed thereby restrained and interfered at various foreign policy issues in different times, but one still has to guard against the overestimation of the influence exerted by these forces. When they on a particular issue is quite prominent, this state of affairs is just an effect of confusion, hesitation, or temporary lack of sufficient attention on the part of the leaders, though the structural factors such as increasing complexities of an increasingly expanding government machine and that of foreign policy challenges are also important. All the analyses on these dynamics indicate an essential point: in despite of them, political leadership is still decisive.

Measurement of Spindle Tilt Error based on Interference Fringe

Pengqiang Fu,Yinhong Jiang,Lijie Zhou,Yiwen Wang,Qinghui Cao,Qiang Zhang,Feihu Zhang 한국정밀공학회 2019 International Journal of Precision Engineering and Vol.20 No.5

The spindle rotation error is one of the important factors that affect the precision of the machined parts. The study of spindle rotation error is of great significance for finding the source of error, predicting the surface shape error of machining parts and improving the machining accuracy of ultra-precision machine tools. The structural of the aerostatic spindle this article focuses on is motorized spindle and the spindle tilt error has the maximum effect on the machining precision. A new method for measuring the rotation error of ultra-precision aerostatic spindle based on interference fringes is proposed in this paper. By using the principle of phase shifting interferometry, the mathematical model between the shape of interference fringes and the motion law of the spindle rotor is established by theoretical modeling. The interference fringes are processed with gray, smooth filtering, expansion corrosion, and edge detection and so on. The distance and direction of the interference fringes are calculated in the coordinate system, so as to get the spindle tilt error. Finally, the measurement system for the spindle rotation error of the aerostatic spindle is developed. The accuracy and effectiveness of this method are shown based on the experimental results.

Latin Hypercube Sampling Based Probabilistic Small Signal Stability Analysis Considering Load Correlation

Jian Zuo,Yinhong Li,Defu Cai,Dongyuan Shi 대한전기학회 2014 Journal of Electrical Engineering & Technology Vol.9 No.6

A novel probabilistic small signal stability analysis (PSSSA) method considering load correlation is proposed in this paper. The superiority Latin hypercube sampling (LHS) technique combined with Monte Carlo simulation (MCS) is utilized to investigate the probabilistic small signal stability of power system in presence of load correlation. LHS helps to reduce the sampling size, meanwhile guarantees the accuracy and robustness of the solutions. The correlation coefficient matrix is adopted to represent the correlations between loads. Simulation results of the two-area, four-machine system prove that the proposed method is an efficient and robust sampling method. Simulation results of the 16-machine, 68-bus test system indicate that load correlation has a significant impact on the probabilistic analysis result of the critical oscillation mode under a certain degree of load uncertainty.

Multiobjective Optimal Reactive Power Flow Using Elitist Nondominated Sorting Genetic Algorithm

Zhihuan Li,Yinhong Li,Xianzhong Duan 대한전기학회 2010 Journal of Electrical Engineering & Technology Vol.5 No.1

Elitist nondominated sorting genetic algorithm (NSGA-II) is adopted and improved for multiobjective optimal reactive power flow (ORPF) problem. Multiobjective ORPF, formulated as a multiobjective mixed integer nonlinear optimization problem, minimizes real power loss and improves voltage profile of power grid by determining reactive power control variables. NSGA-II-based ORPF is tested on standard IEEE 30-bus test system and compared with four other state-of-the-art multiobjective evolutionary algorithms (MOEAs). Pareto front and outer solutions achieved by the five MOEAs are analyzed and compared. NSGA-II obtains the best control strategy for ORPF, but it suffers from the lower convergence speed at the early stage of the optimization. Several problem-specific local search strategies (LSSs) are incorporated into NSGA-II to promote algorithm’s exploiting capability and then to speed up its convergence. This enhanced version of NSGA-II (ENSGA) is examined on IEEE 30 system. Experimental results show that the use of LSSs clearly improved the performance of NSGA-II. ENSGA shows the best search efficiency and is proved to be one of the efficient potential candidates in solving reactive power optimization in the real-time operation systems.