We investigate the relationship between corporate reporting transparency and audit fees. We predi... more We investigate the relationship between corporate reporting transparency and audit fees. We predict that higher quality of information disclosure and better corporate reporting transparency can decrease the information asymmetry between the firms and outsiders, reducing the amount of audit risk, resulting in less audit work and lower audit fees. We find evidence of a negative relationship between financial reporting transparency and audit fees. Our results are relevant to public firms, regulators, and the public at large as they demonstrate another possible benefit to greater corporate reporting transparency
This paper empirically explores the role of the lead directors in the corporate governance system... more This paper empirically explores the role of the lead directors in the corporate governance system and strives to empirically examine the association between the lead directorship and firm performance. I measure firm performance by three empirical proxies: Tobin’s Q, returns on assets (ROA) and stock returns. I explore the research question on the relationship between lead directorship and firm performance in both cross-sectional and inter-temporal contexts. The sample consists of S & P 500 firms from 2001 to 2004 that have all the required financial, stock returns, and other relevant information. Overall, the empirical results of both cross-sectional and inter-temporal analyses indicate a positive association between lead directorship and firm performance.
ABSTRACT Forestland use right transactions (FURT) are mechanisms developed by China’s central gov... more ABSTRACT Forestland use right transactions (FURT) are mechanisms developed by China’s central government to cope with the problem of fragmented forestlands stemming from Collective Forest Tenure Reform (CFTR). We hypothesize that the rate of FURT remains surprisingly low after the CFTR because of households’ decision-making behavior, which depends on individual attitudes toward risks and benefits, namely risk preference. Game experiments were used to measure individual risk preferences in 301 rural households in Fujian Province, China. The results show that risk and loss averse households are less willing to participate in FURT, whether for renting-in or renting-out forestlands. When it comes to FURT contract choice, risk and loss averse households prefer to choose informal oral agreements with relatives and friends for short-term, relatively low, one-off payments. Our results also indicate that perceptions of secure forestland tenure could promote household’s renting-in of forestlands and weaken the negative impact of household risk preference. Meanwhile, risk and loss averse sellers generally give relative high price evaluations on their forestlands, which inhibits their possibilities to successfully rent-out. This study contributes to a better understanding of the relationship between household risk preference and FURT decisions, and will help inform the design of alternative policies that could promote FURT in China.
Many viral genomes encode small, integral membrane proteins that form homo-oligomeric channels in... more Many viral genomes encode small, integral membrane proteins that form homo-oligomeric channels in membrane, and they transport protons, cations, and other molecules across the membrane barrier to aid various steps of viral entry and maturation. These viral proteins, collectively named viroporins, are crucial for viral pathogenicity. In the past five years, structures obtained by nuclear magnetic resonance (NMR), X-ray crystallography, and electron microscopy (EM) showed that viroporins often adopt minimalist architectures to achieve their functions. A number of small molecules have been identified to interfere with their channel activities and thereby inhibit viral infection, making viroporins potential drug targets for therapeutic intervention. The known architectures and inhibition mechanisms of viroporins differ significantly from each other, but some common principles are shared between them. This review article summarizes the recent developments in the structural investigation ...
We investigate the relationship between corporate reporting transparency and audit fees. We predi... more We investigate the relationship between corporate reporting transparency and audit fees. We predict that higher quality of information disclosure and better corporate reporting transparency can decrease the information asymmetry between the firms and outsiders, reducing the amount of audit risk, resulting in less audit work and lower audit fees. We find evidence of a negative relationship between financial reporting transparency and audit fees. Our results are relevant to public firms, regulators, and the public at large as they demonstrate another possible benefit to greater corporate reporting transparency
This paper empirically explores the role of the lead directors in the corporate governance system... more This paper empirically explores the role of the lead directors in the corporate governance system and strives to empirically examine the association between the lead directorship and firm performance. I measure firm performance by three empirical proxies: Tobin’s Q, returns on assets (ROA) and stock returns. I explore the research question on the relationship between lead directorship and firm performance in both cross-sectional and inter-temporal contexts. The sample consists of S & P 500 firms from 2001 to 2004 that have all the required financial, stock returns, and other relevant information. Overall, the empirical results of both cross-sectional and inter-temporal analyses indicate a positive association between lead directorship and firm performance.
ABSTRACT Forestland use right transactions (FURT) are mechanisms developed by China’s central gov... more ABSTRACT Forestland use right transactions (FURT) are mechanisms developed by China’s central government to cope with the problem of fragmented forestlands stemming from Collective Forest Tenure Reform (CFTR). We hypothesize that the rate of FURT remains surprisingly low after the CFTR because of households’ decision-making behavior, which depends on individual attitudes toward risks and benefits, namely risk preference. Game experiments were used to measure individual risk preferences in 301 rural households in Fujian Province, China. The results show that risk and loss averse households are less willing to participate in FURT, whether for renting-in or renting-out forestlands. When it comes to FURT contract choice, risk and loss averse households prefer to choose informal oral agreements with relatives and friends for short-term, relatively low, one-off payments. Our results also indicate that perceptions of secure forestland tenure could promote household’s renting-in of forestlands and weaken the negative impact of household risk preference. Meanwhile, risk and loss averse sellers generally give relative high price evaluations on their forestlands, which inhibits their possibilities to successfully rent-out. This study contributes to a better understanding of the relationship between household risk preference and FURT decisions, and will help inform the design of alternative policies that could promote FURT in China.
Many viral genomes encode small, integral membrane proteins that form homo-oligomeric channels in... more Many viral genomes encode small, integral membrane proteins that form homo-oligomeric channels in membrane, and they transport protons, cations, and other molecules across the membrane barrier to aid various steps of viral entry and maturation. These viral proteins, collectively named viroporins, are crucial for viral pathogenicity. In the past five years, structures obtained by nuclear magnetic resonance (NMR), X-ray crystallography, and electron microscopy (EM) showed that viroporins often adopt minimalist architectures to achieve their functions. A number of small molecules have been identified to interfere with their channel activities and thereby inhibit viral infection, making viroporins potential drug targets for therapeutic intervention. The known architectures and inhibition mechanisms of viroporins differ significantly from each other, but some common principles are shared between them. This review article summarizes the recent developments in the structural investigation ...
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