We thank Alan D. Jagolinzer (editor) and an anonymous reviewer for their valuable comments and suggestions. This paper has benefitted from feedback from Kurt Gee and participants at the 2021 Canadian Academic Accounting Association Annual Conference, the 2021 American Accounting Association Annual Meeting, the 2022 Hawaii Accounting Research Conference, and workshops at the University of Waterloo, McMaster University, The University of Hong Kong, and the Accounting Design Project hosted by Columbia University. We thank Shiyu Chen for excellent research assistance. The authors of this publication have no conflicts of interest related to this research.

We examine changes in voluntary disclosure of balance sheet and cash flow (BS/CF) information in earnings releases after restatement announcements. We consider these disclosures to be particularly relevant in the restatement context since they help investors interpret accruals and assess reporting quality at a time when information uncertainty is high. We find that BS/CF disclosures drop significantly for at least five quarters following restatement announcements, particularly for severe restatements and those restatements more likely to lead to litigation, and less for firms likely to benefit from reputation-repairing activities. We next consider the impact of BS/CF changes on earnings informativeness and find significantly lower post-restatement earnings response coefficients for firms ceasing BS/CF disclosure, but not otherwise. Overall, we argue that litigation concerns provide a strong disincentive for disclosure following restatement announcements. Our findings add to a growing literature on the importance of disaggregated BS/CF information in interpreting accruals.

In this research, I examine the effect of relationship-specific investments (RSI) made by suppliers on customers' decisions to issue management forecasts. Suppliers' RSI have a low value outside of the customer-supplier relationship. Anticipating that their RSI may provide their customers more bargaining power (i.e., the "hold up " problem), suppliers may be reluctant to make RSI in the first place. To lessen suppliers' hold-up concerns and underinvestment in RSI, customers may issue management forecasts to build reputation and credibility, and establish an image of cooperation and transparency by meeting suppliers' information demands. I find the likelihood of customers' issuing management forecasts is positively associated with suppliers' RSI. I also find that such positive association is less pronounced when suppliers have higher bargaining power, and that customers' management forecasts contribute to longer-term customer-supplier relationships.

Accelerated share repurchases (ASRs) have gained popularity in recent years. At the inception of an ASR, a firm receives most of the shares that would be repurchased at the current stock price. At the completion of the ASR, the repurchase price is adjusted to the average stock price during the ASR contract period. I find that managers increase the media coverage of negative press releases before the inception date but not during the contract period. While prior research has documented that managers deflate stock prices before open market repurchase announcements to reduce subsequent repurchase prices, this paper suggests that, in ASRs, managers rank accelerating share delivery higher than reducing the repurchase price.

We examine whether note disclosures play an enhanced role in value relevance when financial statement line item placement becomes more uniformly prominent. We consider ASU 2011-05, which prohibited reporting other comprehensive income (“OCI”) in the statement of changes in stockholders’ equity. We document that firms changing OCI placement exhibited incremental positive changes in OCI value relevance, in line with the FASB’s goal of raising OCI prominence. This finding resolves the puzzling findings of early studies, which documented an incremental decrease in OCI value relevance. We then find that this effect is enhanced when OCI-related note disclosures are more specific, numeric, readable, or shorter in length. Collectively, our findings suggest that financial statement placement and note disclosure characteristics interact in a manner such that when financial statement line items influence valuation to a greater extent via prominent placement, qualitative characteristics of accompanying note disclosures assume this role more prominently as well.

Purpose - This paper studied a bid generation problem in combinatorial transportation auctions that considered in-vehicle consolidations. The purpose of this paper seeks to establish mixed integer programming to the most profitable transportation task packages. Design/methodology/approach - The authors proposes a mathematical model to identify the most profitable transportation task packages under vehicle capacity, flow balance and in-vehicle consolidation operational constraints, after which a two-phase heuristic algorithm was designed to solve the proposed model. In the first phase, a method was defined to compute bundle synergy, which was then combined with particle swarm optimization (PSO) to determine a satisfactory task package, and in the second phase, the PSO was adopted to program vehicle routings that considered in-vehicle consolidation. Findings - Three numerical examples were given to analyze the effects of the proposed model and method, with the first two small-scale examples coming from the same data base and the third being a larger scale example. The results showed that: (1) the proposed model was able to find a satisfactory solution for the three numerical examples; (2) the computation time was significantly shorter than the accurate algorithm and (3) considering in-vehicle consolidations operations could increase the carrier profits. Originality/value - The highlights of this paper are summarized as following: (1) it considers in-vehicle consolidation when generating bids to maximize profits; (2) it simultaneously identifies the most valuable lane packages and reconstructs vehicle routes and (3) proposes a simple but effective synergy-based method to solve the model.

市场需求的不确定性使得企业经常产生临时性物流需求,物流现货市场采购的补充作用能够有效解决上述问题.为最大程度地利用运力及物流网络,降低运输成本,提高企业收益,承运人往往通过运输服务组合拍卖的形式选择运输线路组合.针对如何在运输服务组合拍卖中选择合适的运输线路组合这一关键问题,基于零担物流承运人的视角,建立了以收益最大化为目标的数学模型,提出了一种基于托运任务间协同效应的求解策略,并采用粒子群算法通过两个不同规模的算例对所提模型及协同效应策略进行验证.在小规模算例1中协同效应策略与反向精英粒子群算法求解方案相同,但协同效应策略运算时间仅需120.6 s,较反向精英粒子群算法减少1775.1 s,求解时间缩短93.64％;算例2中协同效应策略得到最优方案仅耗时148.6 s,反向精英粒子群算法求得相同最优方案则需4125.9 s,运算时间增加96.4％.研究结果表明:使用协同效应的求解策略在两个算例中均能够得到较为满意的决策结果,且计算复杂度较小,在求解质量相同的情况下,协同效应求解策略运算时间更短.

We examine whether financial statement note disclosures play an enhanced role in value relevance when managers lose the ability to convey information via financial statement placement discretion. Specifically, we consider the setting of ASU 2011-05, which removed the option for firms to report other comprehensive income (OCI) in the statement of changes in stockholders’ equity. We report two main findings. First, using a larger sample and longer time period than early studies examining ASU 2011-05, we document that, relative to firms that were unaffected by the OCI reporting mandate, firms that changed OCI placement away from the statement of changes in stockholders’ equity exhibited greater increases in OCI value relevance after ASU 2011-05 became effective, in line with the FASB’s stated goal of raising the the prominence of items reported in OCI. Our findings contradict the seemingly puzzling findings of early studies, which documented an incremental decrease in OCI value relevance for these firms. Second, we find that this incremental positive effect for firms that changed OCI placement is enhanced when OCI-related note disclosures are more specific, contain more numerical information, are more readable, are more stable from year to year, and are shorter in length. Collectively, our findings suggest that financial statement placement and note disclosure characteristics interact in a manner such that when managers lose their ability to convey information via their financial statement placement choice, note disclosures become a relatively more important vehicle in the determination of value relevance.

基于承运人的视角,考虑运输任务在可搭载情况下的零担物流路径规划问题,建立了以收益最大为目标函数的数学模型,并设计了一种基于动态规划的启发式(a heuristic algorithmbased on dynamic planning,HAbDP)算法进行求解.首先利用改进的动态规划算法求出无搭载任务时任意起点到任意终点间的最短路径,随后利用2-opt交换算子将各阶段出现的不可行路径转化为可行路径并进行任务搭载操作,统筹优化后得到完整计划期内车辆路径运行方案.通过数值算例分析得到如下结论:①在小规模问题中,HAbDP算法与精确算法相比,二者的最优收益相近,但前者计算时间大幅度减少;②在较大规模问题中,HAbDP算法与粒子群算法相比,在计算时间上较为接近,但是在求解质量上前者占优;③与传统零担物流路径方案相比,考虑运输任务可搭载后,其空载率、空载线路数量均有显著降低,而总收益显著提升.因此,提出的模型及HAbDP算法对求解可搭载零担物流路径优化问题具有一定的现实意义和参考价值.

Under SFAS No. 159, U.S. firms can measure debt liabilities at fair value, which results in recognition of unrealized gains and losses from debt valuation adjustments (DVA) when a firm’s own credit risk changes. Critics have raised concerns about the counterintuitive income consequences of DVA; that is, when a firm’s credit risk increases (i.e., bad news), debt values decrease, and resulting DVA gains increase the firm’s income (i.e., good news), and vice versa. In this paper, we examine the relation between market valuation and DVA gains and losses, conditioning on the level of unrecognized asset value (UAV). We develop a model to demonstrate the mitigating effect of UAV on the relation between equity returns and DVA. We show that, while the association between equity returns and DVA is positive when the level of UAV is low, the association decreases and eventually turns negative with increasing levels of UAV.

This paper studies the Bidding Generation Problem (BGP) by using bi-level programming. The carrier, as the upper level decision maker, tries to generate its optimal bidding strategy considering the possible reaction of the shipper; and the shipper, as the lower level decision maker, tries to select the proper carriers to provide the transportation services in order to minimize its total cost. Then after establishing the bi-level programming, a particle swarm optimization (PSO) is designed to solve the proposed model.

正 Software-Defined Networking (SDN) is now considered as one of the promising future networking technologies, and this trend can be clearly verified by observing activities of both industry and academia. In industry, we can easily notice that many major network

Software-Defined Networking (SDN) is now considered as one of the promising future networking technologies, and this trend can be clearly verified by observing activities of both industry and academia. In industry, we can easily notice that many major network vendors, such as Cisco and Juniper, are actively supporting SDN functionalities. In addition, several network service provides have deployed SDN enabled networks service provides have deployed SDN enabled networks in their services (e.g., Google B4 and Microsoft SWAN). This trend can also be noticeable in academia. Recently, many SDN related research outputs have been published and announced at diverse top tier networking venues (e.g., SIGCOMM, CoNEXT, and NSDI). As such, SDN is now a key player in networking, and thus it is clear that we, researchers, should put more attention on this area.

Energy harvesting is an attractive technique to take advantage of renewable energy and make systems, such as wireless sensor nodes, less dependent on external power sources. A photovoltaic (PV) energy-harvesting charger can convert energy from solar panels to charge batteries or super capacitors. To manage the variation in illumination, maximum power point tracking (MPPT) is essential to lock the output power of solar panels on the maximum power points [1, 2]. For any generic solar cell, its output current is determined by the output voltage in an exponential relation. Without knowing the characteristics of the solar cell in advance, it is necessary to monitor a feedback parameter to reach its maximum power point. Current measurement is needed at the output of the boost converter [1] or in the output path of the solar cell [2]. Motivated by the topology in [2], we propose a mixed-signal integration to avoid power hungry digital signal processing. In this paper, we report a charger with an integrated MPPT controller that can provide fast tracking for wide-range illumination levels while keeping high conversion efficiency. Also, a battery management unit is implemented and integrated on the same IC.

During software development, a developer often needs to discover specific usage patterns of Application Programming Interface (API) methods. However, these usage patterns are often not well documented. To help developers to get such usage patterns, there are approaches proposed to mine client code of the API methods. However, they lack metrics to measure the quality of the mined usage patterns, and the API usage patterns mined by the existing approaches tend to be many and redundant, posing significant barriers for being practical adoption. To address these issues, in this paper, we propose two quality metrics (succinctness and coverage) for mined usage patterns, and further propose a novel approach called Usage Pattern Miner (UP-Miner) that mines succinct and high-coverage usage patterns of API methods from source code. We have evaluated our approach on a large-scale Microsoft codebase. The results show that our approach is effective and outperforms an existing representative approach MAPO. The user studies conducted with Microsoft developers confirm the usefulness of the proposed approach in practice.