Independent director interlocks: effects and boundary on the earnings persistence of the firm

This article first analyses the impact of independent director interlocks on firms’ earnings persistence in China, an emerging market from 2007 to 2017. Using the independent director network data and the unique internal control index, this article investigates the association between independent director interlocks and earnings persistence, and the roles of firms’ outside director interlocks and firms’ inside internal control playing in earnings persistence. Our results reveal a significant and positive association between independent director interlocks and earnings persistence, and in the context, there is a clear mediation effect of internal control in relationship of independent director interlocks and earnings persistence. Further analyses on the scope and stability of independent director interlocks effects show that independent director interlocks can both improve accrual earnings persistence and cash flow persistence. Meanwhile, the effect of independent director interlocks differentiates under the influence of firms’ strategy, only playing a significant role in defensive ones. Moreover, we find that independent director interlocks can relieve the ‘accrual anomalies’ in the securities market. Our results are robust to the various measure of earnings persistence and alternative methodological techniques

Development Of Structural-functional Integrated Energy Storage Concrete With Innovative Macro-encapsulated PCM By Hollow Steel Ball

Phase change materials (PCMs) have great potential for applications in energy efficient buildings. In this study, an innovative method of macro-encapsulation of PCM using hollow steel balls (HSB) was developed and the thermal and mechanical performance of PCM-HSB concrete was examined. The macro-encapsulation system (PCM-HSB) was attached with a metal clamp (c) for better mechanical interlocking with the mortar matrix. The latent heat of PCM-HSB-c that can be acquired is approximately 153.1 J/g, which can be considered to rank highly among PCM composites. According to the self-designed thermal performance evaluation, the PCM–HSB-c concrete panel is capable of reducing and deferring the peak indoor temperature. The indoor temperature of the room model using PCM-HSB-c panels was significantly lower than the ones with normal concrete panels by a range of 3–6%. Furthermore, the test room using a higher PCM-HSB-c content demonstrated a greater ability to maintain a lower indoor room temperature for a longer period of time during heating cycles. In consideration of the mechanical properties, thermal performance and other aspects of cost factors, 50% and 75% PCM-HSB-c replacement levels are recommended in producing concrete

Multistep Hybrid Iterations for Systems of Generalized Equilibria with Constraints of Several Problems

We first introduce and analyze one multistep iterative algorithm by hybrid shrinking projection method for finding a solution of the system of generalized equilibria with constraints of several problems: the generalized mixed equilibrium problem, finitely many variational inclusions, the minimization problem for a convex and continuously Fréchet differentiable functional, and the fixed-point problem of an asymptotically strict pseudocontractive mapping in the intermediate sense in a real Hilbert space. We prove strong convergence theorem for the iterative algorithm under suitable conditions. On the other hand, we also propose another multistep iterative algorithm involving no shrinking projection method and derive its weak convergence under mild assumptions

A Retrospective Cohort Study Comparing Stroke Recurrence Rate in Ischemic Stroke Patients With and Without Acupuncture Treatment.

Little was known about the effects of acupuncture on stroke recurrence. The aim of this study is to investigate whether ischemic stroke patients receiving acupuncture treatment have a decreased risk of stroke recurrence. A retrospective cohort study of 30,058 newly diagnosed cases of ischemic stroke in 2000 to 2004 was conducted based on the claims of Taiwan National Health Insurance Research Database. The use of acupuncture treatment and stroke recurrence were identified during the follow-up period from 2000 to 2009. This study compared the risk of stroke recurrence between ischemic stroke cohorts with and without acupuncture treatment by calculating adjusted hazard ratios (HRs) and 95% confidence intervals (CIs) of acupuncture associated with stroke recurrence in the Cox proportional hazard model. The stroke recurrence rate per 1000 person-years decreased from 71.4 without to 69.9 with acupuncture treatment (P < 0.001). Acupuncture treatment was associated with reduced risk of stroke recurrence (HR 0.88; 95% CI 0.84-0.91). The acupuncture effect was noted in patients with or without medical treatment for stroke prevention but its impact decreased with aging of stroke patients. Compared with stroke patients without acupuncture treatment and medication therapy, the hazard ratios of stroke recurrence for those had medication therapy only, acupuncture only, and both were 0.42 (95% CI 0.38-0.46), 0.50 (95% CI 0.43-0.57), and 0.39 (95% CI 0.35-0.43), respectively. This study raises the possibility that acupuncture might be effective in lowering stroke recurrence rate even in those on medications for stroke prevention. Results suggest the need of prospective sham-controlled and randomized trials to establish the efficacy of acupuncture in preventing stroke

Triple Hierarchical Variational Inequalities with Constraints of Mixed Equilibria, Variational Inequalities, Convex Minimization, and Hierarchical Fixed Point Problems

We introduce and analyze a hybrid iterative algorithm by virtue of Korpelevich's extragradient method, viscosity approximation method, hybrid steepest-descent method, and averaged mapping approach to the gradient-projection algorithm. It is proven that under appropriate assumptions, the proposed algorithm converges strongly to a common element of the fixed point set of infinitely many nonexpansive mappings, the solution set of finitely many generalized mixed equilibrium problems (GMEPs), the solution set of finitely many variational inequality problems (VIPs), the solution set of general system of variational inequalities (GSVI), and the set of minimizers of convex minimization problem (CMP), which is just a unique solution of a triple hierarchical variational inequality (THVI) in a real Hilbert space. In addition, we also consider the application of the proposed algorithm to solve a hierarchical fixed point problem with constraints of finitely many GMEPs, finitely many VIPs, GSVI, and CMP. The results obtained in this paper improve and extend the corresponding results announced by many others

Reducing Crosstalk of Silicon-based Optical Switch with All-optical Multi-wavelength Regenerator

Improving crosstalk performance of Mach–Zehnder-interferometer-type optical switches is experimentally investigated by use of an all-optical multi-wavelength regenerator. Extinction ratio and bit error rate of WDM signals are simultaneously improved in proposed regenerative optical switching

Structural Characterization and Antioxidative Activity of Low-Molecular-Weights Beta-1,3-Glucan from the Residue of Extracted Ganoderma lucidum Fruiting Bodies

The major cell wall constituent of Ganoderma lucidum (G. lucidum) is β-1,3-glucan. This study examined the polysaccharide from the residues of alkaline-extracted fruiting bodies using high-performance anion-exchange chromatography (HPAEC), and it employed nuclear magnetic resonance (NMR) and mass spectrometry (MS) to confirm the structures. We have successfully isolated low-molecular-weight β-1,3-glucan (LMG), in high yields, from the waste residue of extracted fruiting bodies of G. lucidum. The 3-(4,5-dimethylthiazol-2-yl)-2,5-diphenyl tetrazolium bromide (MTT) assay evaluated the capability of LMG to suppress H2O2-induced cell death in RAW264.7 cells, identifying that LMG protected cells from H2O2-induced damage. LMG treatment decreased H2O2-induced intracellular reactive oxygen species (ROS) production. LMG also influenced sphingomyelinase (SMase) activity, stimulated by cell death to induce ceramide formation, and then increase cell ROS production. Estimation of the activities of neutral and acid SMases in vitro showed that LMG suppressed the activities of both neutral and acid SMases in a concentration-dependent manner. These results suggest that LMG, a water-soluble β-1,3-glucan recycled from extracted residue of G. lucidum, possesses antioxidant capability against H2O2-induced cell death by attenuating intracellular ROS and inhibiting SMase activity

Strong and Weak Convergence Criteria of Composite Iterative Algorithms for Systems of Generalized Equilibria

We first introduce and analyze one iterative algorithm by using the composite shrinking projection method for finding a solution of the system of generalized equilibria with constraints of several problems: a generalized mixed equilibrium problem, finitely many variational inequalities, and the common fixed point problem of an asymptotically strict pseudocontractive mapping in the intermediate sense and infinitely many nonexpansive mappings in a real Hilbert space. We prove a strong convergence theorem for the iterative algorithm under suitable conditions. On the other hand, we also propose another iterative algorithm involving no shrinking projection method and derive its weak convergence under mild assumptions. Our results improve and extend the corresponding results in the earlier and recent literature

Enhanced Antifungal Bioactivity of Coptis Rhizome Prepared by Ultrafining Technology

The aim of this study was to identify and quantify the bioactive constituents in the methanol extracts of Coptis Rhizome prepared by ultrafining technology. The indicator compound was identified by spectroscopic method and its purity was determined by HPLC. Moreover, the crude extracts and indicator compound were examined for their ability to inhibit the growth of Rhizoctonia solani Kühn AG-4 on potato dextrose agar plates. The indicator compound is a potential candidate as a new plant derived pesticide to control Rhizoctonia damping-off in vegetable seedlings. In addition, the extracts of Coptis Rhizome prepared by ultrafining technology displayed higher contents of indicator compound; they not only improve their bioactivity but also reduce the amount of the pharmaceuticals required and, thereby, decrease the environmental degradation associated with the harvesting of the raw products