Chinese Regulation of Issuer Earnings Forecasts: Recommendations for an Ex Ante Legal Framework

Chinese Regulation of Issuer Earnings Forecasts: Recommendation for an Ex Ante Legal Framework Chengxi Yao© (April 20, 2015) Abstract In contrast to the voluntary earnings projection regime in the U.S., the Chinese securities regulation applies a bifurcated mandatory-voluntary earnings projection regime. The forecasting issuers are neither protected by any safe harbor nor exposed to any private litigation risk; the forecasts are regulated through public enforcement on an ex post accuracy basis. This Article contributes to extant literature on issuer forward-looking information regulation, by applying U.S.disclosure theories and examining empirical data of the Shanghai Stock Exchange and Shenzhen Stock Exchange listed issuers during the 2013-2014 period. It argues that regulation of issuer forecasts solely by means of confidential Fidelity regulation and deprivation of market opportunities for ex post inaccurate forecasts is both ineffective (due to issuer strategic projection behavior) and inefficient (due to inaccurate enforcement induced resource misallocation). It recommends an open legal framework to support an informed market. Key Words Earnings forecast; mandatory disclosure; voluntary disclosure; ex ante; ex post; China; U.S

Study on the Influencing Factors of Health Information Sharing Behavior of the Elderly under the Background of Normalization of Pandemic Situation

This study aims to solve the problem of unwise judgment, decisions, and correspondingly dangerous behaviors caused by error health information to the elderly. Based on the MOA model and self-determination theory, this paper constructs a health information sharing model for the elderly and analyzes it with Amos\u27s structural equation model. The study finds that media richness, health information literacy, perceived benefits, and negative emotions of the coronavirus epidemic positively influence health information sharing behavior. In contrast, perceived risks have a significant negative impact on health information sharing behavior. At the same time, media richness positively affects health information literacy, perceived benefits, and negative emotions of the coronavirus epidemic but has no significant impact on perceived risks. Health literacy positively affects perceived benefits but does not significantly affect the perceived risks and negative emotions of the coronavirus epidemic. This study aims to assist government and online social platforms in taking relevant measures under the background of normalization of the pandemic situation, controlling the spread of error health information among the elderly, and guiding the elderly to share health information better

Identification of Traditional She Medicine Shi-Liang Tea Species and Closely Related Species Using the ITS2 Barcode

Traditional She medicine is part of China’s cultural heritage and has become remarkably popular worldwide. The Shi-Liang tea is made from the processed leaves of Chimonanthus salicifolius S. Y. Hu and Chimonanthus zhejiangensis M. C. Liu. To ensure the safety and efficacy of Shi-Liang tea, we used DNA barcoding based on the internal transcribed spacer 2 (ITS2) of nuclear ribosomal DNA to distinguish the original plant sources of Shi-Liang tea from closely related species. All 71 ITS2 sequences were aligned by Clustal-W, and genetic distances were computed using MEGA 6.0 according to the Kimura 2-parameter model. The results indicated that the sequence lengths of ITS2 regions of the original plants of Shi-Liang tea and closely related species ranged from 256 bp to 260 bp. Interspecific genetic distances ranged from 0 to 0.078. The neighbor-joining (NJ) tree showed that the original plants of Shi-Liang tea species can be easily differentiated from closely related species. Distinct molecular differences were found between the secondary structures of ITS2 sequences from Shi-Liang tea and closely related species. The results in the present investigation suggested that the ITS2 could be an effective DNA marker to identify the original plants of Shi-Liang tea and their closely related species. These DNA barcodes can greatly benefit the supervision of the commercial circulation of She medicine