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Sap flow characteristics and physiological adjustments of two dominant tree species in pure and mixed plantations in the semi-arid Loess Plateau of China 被引量:9
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作者 TANG Yakun WU Xu CHEN Yunming 《Journal of Arid Land》 SCIE CSCD 2018年第6期833-849,共17页
It is essential to understand the water consumption characteristics and physiological adjustments of tree species under drought conditions,as well as the effects of pure and mixed plantations on these characteristics ... It is essential to understand the water consumption characteristics and physiological adjustments of tree species under drought conditions,as well as the effects of pure and mixed plantations on these characteristics in semi-arid regions.In this study,the normalized sap flow(SFn),leaf water potential,stomatal conductance(gs),and photosynthetic rate(Pr)were monitored for two dominant species,i.e.,Pinus tabuliformis and Hippophae rhamnoides,in both pure and mixed plantations in a semi-arid region of Chinese Loess Plateau.A threshold-delay model showed that the lower rainfall thresholds(RL)for P.tabuliformis and H.rhamnoides in pure plantations were 9.6 and 11.0 mm,respectively,and the time lags(τ)after rainfall were 1.15 and 1.76 d for corresponding species,respectively.The results indicated that P.tabuliformis was more sensitive to rainfall pulse than H.rhamnoides.In addition,strong stomatal control allowed P.tabuliformis to experience low gsand Prin response to drought,while maintaining a high midday leaf water potential(Ψm).However,H.rhamnoides maintained high gsand Prat a lowΨmexpense.Therefore,P.tabuliformis and H.rhamnoides can be considered as isohydric and anisohydric species,respectively.In mixed plantation,the values of RLfor P.tabuliformis and H.rhamnoides were 6.5 and 8.9 mm,respectively;and the values ofτwere 0.86 and 1.61 d for corresponding species,respectively,which implied that mixed afforestation enhanced the rainfall pulse sensitivity for both two species,especially for P.tabuliformis.In addition,mixed afforestation significantly reduced SFn,gs,and Prfor P.tabuliformis(P<0.05),while maintaining a high leaf water potential status.However,no significant effect of mixed afforestation of H.rhamnoides was observed at the expense of leaf water potential status in response to drought.Although inconsistent physiological responses were adopted by these species,the altered water consumption characteristics,especially for P.tabuliformis indicated that the mixed afforestation requires further investigation. 展开更多
关键词 normalized sap flow physiological adjustments mixed afforestation Pinus tabuliformis Hippophae rhamnoides
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Adaptability of anticipatory postural adjustments associated with voluntary movement 被引量:8
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作者 Eric Yiou Teddy Caderby Tarek Hussein 《World Journal of Orthopedics》 2012年第6期75-86,共12页
The control of balance is crucial for efficiently performing most of our daily motor tasks, such as those involving goal-directed arm movements or whole body displacement. The purpose of this article is twofold. First... The control of balance is crucial for efficiently performing most of our daily motor tasks, such as those involving goal-directed arm movements or whole body displacement. The purpose of this article is twofold. Firstly, it is to recall how balance can be maintained despite the different sources of postural perturbation arising during voluntary movement. The importance of the so-called "anticipatory postural adjustments"(APA), taken as a "line of defence" against the destabilizing effect induced by a predicted perturbation, is emphasized. Secondly, it is to report the results of recent studies that questioned the adaptability of APA to various constraints imposed on the postural system. The postural constraints envisaged here are classified into biomechanical(postural stability, superimposition of motor tasks),(neuro) physiological(fatigue), temporal(time pressure) and psychological(fear of falling, emotion). Overall, the results of these studies point out the capacity of the central nervous system(CNS) to adapt the spatio-temporal features of APA to each of theseconstraints. However, it seems that, depending on the constraint, the "priority" of the CNS was focused on postural stability maintenance, on body protection and/or on maintenance of focal movement performance. 展开更多
关键词 Anticipatory POSTURAL adjustments ADAPTABILITY VOLUNTARY movement BALANCE BIOMECHANICS Motor control
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BUNDLE ADJUSTMENTS CCD CAMERA CALIBRATION BASED ON COLLI NEARITY EQUATION 被引量:3
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作者 LiuChangying YuZhijing CheRensheng YeDong HuangQingcheng YangDingning 《Chinese Journal of Mechanical Engineering》 SCIE EI CAS CSCD 2004年第4期494-497,共4页
The solid template CCD camera calibration method of bundle adjustments basedon collinearity equation is presented considering the characteristics of space large-dimensionon-line measurement. In the method, a more comp... The solid template CCD camera calibration method of bundle adjustments basedon collinearity equation is presented considering the characteristics of space large-dimensionon-line measurement. In the method, a more comprehensive camera model is adopted which is based onthe pinhole model extended with distortions corrections. In the process of calibration, calibrationprecision is improved by imaging at different locations in the whole measurement space,multi-imaging at the same location and bundle adjustments optimization. The calibration experimentproves that the calibration method is able to fulfill calibration requirement of CCD camera appliedto vision measurement. 展开更多
关键词 Bundle adjustments Distortions corrections Collinearity equation Cameracalibration
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Discussion on Adjustments of Redundancies in C-E Interpretation
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作者 张媛 刘艾云 《海外英语》 2014年第9X期283-284,共2页
Information redundancy is one of the important factors of successful language communication.It makes the implications more obvious and clearly,which helps the receiver get enough information,making the interpreters co... Information redundancy is one of the important factors of successful language communication.It makes the implications more obvious and clearly,which helps the receiver get enough information,making the interpreters complete the task successfully.However,if an interpreter just translates the Information redundancy without any adjustment in C-E interpretation,it will cause the overloads or loss of information which will affect a successful communication.The article discussed the ways to adjust Information redundancy in C-E interpretation in order to achieve dynamic redundancy equivalence through practices and examples. 展开更多
关键词 adjustments of redundancies C-E INTERPRETATION
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Security Policy: Consistency, Adjustments and Restraining Factors
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作者 Yang Jiemian Research Professor and Deputy Director, Shanghai Institute of International Studies. 《Contemporary International Relations》 2004年第11期33-38,共6页
关键词 Security Policy adjustments and Restraining Factors CONSISTENCY
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The Value Relevance of Foreign Currency Translation Adjustments (FCTAs) in the Italian Stock Exchange
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作者 Olga Ferraro Stefania Veltri 《Journal of Modern Accounting and Auditing》 2012年第10期1523-1534,共12页
The main aim of this paper is to test whether the foreign currency translation adjustments (FCTAs), the largest components of other comprehensive income (OCI) for most firms, are incrementally value-relevant for i... The main aim of this paper is to test whether the foreign currency translation adjustments (FCTAs), the largest components of other comprehensive income (OCI) for most firms, are incrementally value-relevant for investors with respect to the net income (NI). Previous archival research on the value relevance of FCTAs has documented a weak or non-existent link between FCTAs and firm valuation (Pinto, 2005). The hypothesized reasons could reside in the econometric method employed, in the use of as-if numbers, and in the missing consideration of the differential effect that exchange rate changes have on firms of varying levels of capital intensiveness. This study adds to the existing literature by empirically testing the value relevance of as-reported FCTAs numbers in the earnings and book value model the Ohlson-like interacted model through panel data techniques. The main finding of this study is that as-reported FCTAs are significantly and incrementally value-relevant, when their parameter estimates are allowed to vary in the cross-section. 展开更多
关键词 value relevance foreign currency translation adjustments (FCTAs) other comprehensive income (OCI) Italy listed groups as-reported data
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China Busy Making Legal Adjustments for WTO Entry
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《China's Foreign Trade》 2001年第3期18-20,共3页
关键词 WTO China Busy Making Legal adjustments for WTO Entry
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Influences of Border Carbon Adjustments on China's Foreign Trade
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作者 Zhou Lingling Gu Alun +1 位作者 Teng Fei He Jiankun 《Chinese Journal of Population,Resources and Environment》 2012年第2期94-100,共7页
The EU, the United States and other economies, with the intention to implement unilateral trade measures Border Carbon Adjustments, impose emission reduction pressure on developing countries. Once implemented, the mea... The EU, the United States and other economies, with the intention to implement unilateral trade measures Border Carbon Adjustments, impose emission reduction pressure on developing countries. Once implemented, the measures will have great impact on China's foreign trade. Using the input-output table in 2007, this paper had analyzed the influences on China's foreign trade as a whole and sub-sectors in three tax rates scenarios. The results showed that the tariff level of China's exports will increase by 3.6%-6.3% if the tax was levied on exports embodied emissions, and by 1.0%-1.7% if levied on export direct emissions. In 2007, the former total amount of carbon tax was about US$42.6-73.0 billion, 4 times that of the latter. Based on export embodied emissions, sectors largely influenced were non-traditional energy intensive ones, such as textile, et al. These sectors should be encour-aged to carry out industrial upgrading, raising the value-added of export goods, and reducing their embodied emissions by reduction of energy intensity. Taking into account of the complexity of data collection, the tax levied on products direct emission is more operational. The results showed that the five top sectors most affected were other chemical materials, processing of petroleum and nuclear fuel, coking, smelting and rolling of ferrous metal and textile. Most of them were energy intensive sectors. Therefore, adjusting export products structure, and controlling too fast development of energy intensive industries are also important strategies in China. 展开更多
关键词 border carbon adjustments input-output model inter-national trade climate change
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Study on the Spatial Characteristics and Adjustments of the Tourist Demands in China
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作者 Fali Geng 《Chinese Business Review》 2004年第3期75-81,共7页
With the development of the social economy, Chinese tourism will surely change from medium scale to massive scale. As people are more and more focusing on the inner values of life style, new types of tourist demands w... With the development of the social economy, Chinese tourism will surely change from medium scale to massive scale. As people are more and more focusing on the inner values of life style, new types of tourist demands will emerge at anytime, and the spatial structure of tourist demands will show new characteristics as well Until now there is few study on tourist demand, especially on its spatial pattern. Study on spatial characteristics of tourist demand will contribute to spatial optimization and adjustments of tourist flow and supply. So this article has put forward the spatial pattern of tourist demand in China and measures of spatial adjustments and grade system of the spatial adjustment of tourists demand. 展开更多
关键词 tourist demands spatial characteristics spatial adjustments grade system
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Frequent Crises Usher in Deepgoing Adjustments
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作者 谌取荣 《Contemporary International Relations》 1999年第1期1-5,共5页
The past year witnessed an extremely complicated world scene characterised byemergence of frequent crises accompanied by deepgoing adjustments as well asof fierce competition coupled with strengthening cooperation. Th... The past year witnessed an extremely complicated world scene characterised byemergence of frequent crises accompanied by deepgoing adjustments as well asof fierce competition coupled with strengthening cooperation. The dangers of finan-cial storms, economic recession, political turmoils and military jeopardies emergingat the turn of the century bring to the world both big-scale tensions on the negativeside and unusual early warnings on the positive side. The tendencies toward glob-alization, multi-polarization and a new-type relationship among nations have 展开更多
关键词 Frequent Crises Usher in Deepgoing adjustments
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Dynamic changes of cellular immune function and individualized adjustments of immunosup-pressant for the management of severe infection after liver transplantation
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作者 李瑞东 《外科研究与新技术》 2011年第4期276-276,共1页
Objective To explore the dynamic changes of the cellular immune function in severe infection after liver transplantation,and to guide the individualized immunology adjustment. Methods 378 cases of liver transplantatio... Objective To explore the dynamic changes of the cellular immune function in severe infection after liver transplantation,and to guide the individualized immunology adjustment. Methods 378 cases of liver transplantation were analyzed retrospectively. Seventy - four cases ( infection group) suffered serious infection,including 54 cases cured ( cure group) ,20 cases died ( 展开更多
关键词 than Dynamic changes of cellular immune function and individualized adjustments of immunosup-pressant for the management of severe infection after liver transplantation
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Improvement of Radar Quantitative Precipitation Estimation Based on Real-Time Adjustments to Z-R Relationships and Inverse Distance Weighting Correction Schemes 被引量:19
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作者 王改利 刘黎平 丁媛媛 《Advances in Atmospheric Sciences》 SCIE CAS CSCD 2012年第3期575-584,共10页
The errors in radar quantitative precipitation estimations consist not only of systematic biases caused by random noises but also spatially nonuniform biases in radar rainfall at individual rain-gauge stations. In thi... The errors in radar quantitative precipitation estimations consist not only of systematic biases caused by random noises but also spatially nonuniform biases in radar rainfall at individual rain-gauge stations. In this study, a real-time adjustment to the radar reflectivity rainfall rates (Z R) relationship scheme and the gauge-corrected, radar-based, estimation scheme with inverse distance weighting interpolation was devel- oped. Based on the characteristics of the two schemes, the two-step correction technique of radar quantitative precipitation estimation is proposed. To minimize the errors between radar quantitative precipitation es- timations and rain gauge observations, a real-time adjustment to the Z R relationship scheme is used to remove systematic bias on the time-domain. The gauge-corrected, radar-based, estimation scheme is then used to eliminate non-uniform errors in space. Based on radar data and rain gauge observations near the Huaihe River, the two-step correction technique was evaluated using two heavy-precipitation events. The results show that the proposed scheme improved not only in the underestimation of rainfall but also reduced the root-mean-square error and the mean relative error of radar-rain gauge pairs. 展开更多
关键词 precipitation estimation adjusted Z R relationship gauge correction
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A Methodology for Introducing M&V Adjustments during an Energy Retrofit Impact Assessment
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作者 Nikos Sakkas Evangelos Kaltsis 《Open Journal of Energy Efficiency》 2014年第3期77-84,共8页
The assessment of an energy retrofit necessarily requires an energy measurement campaign before (base year energy consumption) and after (post retrofit energy consumption) the retrofit. Only in this way is it possible... The assessment of an energy retrofit necessarily requires an energy measurement campaign before (base year energy consumption) and after (post retrofit energy consumption) the retrofit. Only in this way is it possible to reach a safe conclusion, on the true retrofit impact. In addition, a number of adjustments are necessary to secure that the retrofit impact on energy consumption is effectively isolated, i.e., which we report on the true retrofit impact and not, for example, on external variations, such as a more mild winter. This paper introduces a conceptual framework for taking account, in the retrofit impact assessment, of three external parameters: weather, indoor comfort and space occupancy. The broader strategy behind this work is to develop a comprehensive methodology that would allow a cost efficient, fast and accurate assessment of energy retrofits in buildings. This would allow insight, on the investor side, as to the prudence of his investment and, and in this way, could help the proliferation of the practice of energy retrofits. The adjustment methodology, introduced here, is a first step in this direction. 展开更多
关键词 ENERGY RETROFIT Impact Assessment External Parameter Adjustment OCCUPANCY Operational RETROFIT
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Proposing Adjustments to the Dry Season Inter-Reservoir Operation Rules of the Red River System to Improve Water Use Efficiency of the Reservoirs
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作者 Thuy T. B. Nguyen Ninh H. Bui 《Journal of Geoscience and Environment Protection》 2023年第5期316-334,共19页
The Red-Thai Binh River system is an important water resource to the Northern Delta, serving the development of agriculture, people’s livelihood and other economic sectors through its upstream reservoirs and a system... The Red-Thai Binh River system is an important water resource to the Northern Delta, serving the development of agriculture, people’s livelihood and other economic sectors through its upstream reservoirs and a system of water abstraction works along the rivers. However, due to the impact of climate change and pressure from socio-economic development, the operation of the reservoir system according to Decision No. 740/QD-TTg was issued on June 17, 2019 by the Prime Minister of Government promulgating the Red-Thai Binh River system inter-reservoir operation rules (Operation rules 740) has some shortcomings that need adjustments for higher water use efficiency, meeting downstream water demand and power generation benefits. Through the results of water balance calculation and analysis of economic benefits from water use scenarios, this research proposed adjustment to the inter-reservoir operation during dry season in the Red River system. The result showed that an average water level of 1.0 - 1.7 m should be maintained at Hanoi during the increased release period. 展开更多
关键词 Inter-Reservoir Operation Adjustment Operation Rules RESERVOIRS Red-Thai Binh River Basin
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A systematic review of avian response to urbanization in China:Research trends,current insights,and future directions
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作者 Xingmin Chen Yanping Wang 《Avian Research》 2025年第4期567-578,共12页
Urbanization is one of the most extreme forms of land-use alteration that is advancing across the world with unprecedented speed.As the largest developing country,China has developed a unique path through its high spe... Urbanization is one of the most extreme forms of land-use alteration that is advancing across the world with unprecedented speed.As the largest developing country,China has developed a unique path through its high speed and large scale of urbanization,offering valuable research opportunities for avian ecology.However,a comprehensive review on how birds respond to urbanization in China is still lacking.Here,we systematically reviewed 274 studies published from 1962 to 2024 to determine the research trends,current insights,and future directions of avian response to urbanization in China.We synthesized research trends across four core avian response dimensions to urbanization—diversity,behavior,physiology,and life-history—and their applications in conservation strategy design.The number of publications in avian response to urbanization in China increased annually,and it is influenced by China's developing policies of urbanization.The results also showed an unbalanced geographical pattern of the publications,as the research preferences are relatively prevalent in the developed areas of eastern China.In contrast,there are insufficient studies in the emerging urbanizing areas in the western and northeastern China.Regarding the research contents,most existing studies are focusing on the patterns of bird diversity,while there are few studies on the underlying mechanisms,such as physiological adjustments and life-history strategies.In addition,passerines are the most frequent ones among the studied species.Integrating multidimensional urbanization indices and citizen science data are gradually becoming a new trend in recent years.Our study emphasizes that future studies should pay more attention to the response mechanism of birds in urbanizing processes,multidimensional and interdisciplinary studies,and the transformation of the research results into conservation practices. 展开更多
关键词 Avian response Behavioral adjustments Diversity patterns Life-history strategies Physiological adjustments Systematic review URBANIZATION
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CAS-ESM2.0 Dataset for the G1ext Experiment of the Geoengineering Model Intercomparison Project(GeoMIP) 被引量:2
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作者 Min CUI Duoying JI +8 位作者 John CMOORE He ZHANG Jiangbo JIN Kece FEI Chenglai WU Jiawen ZHU Juanxiong HE Zhaoyang CHAI Dongling ZHANG 《Advances in Atmospheric Sciences》 2025年第3期579-592,共14页
Solar radiation modification,a scheme aimed at mitigating rapid global warming triggered by anthropogenic greenhouse gas emissions,has been explored through the G1ext experiment under the Geoengineering Model Intercom... Solar radiation modification,a scheme aimed at mitigating rapid global warming triggered by anthropogenic greenhouse gas emissions,has been explored through the G1ext experiment under the Geoengineering Model Intercomparison Project(GeoMIP) framework,utilizing the Chinese Academy of Sciences Earth System Model version 2(CAS-ESM2.0).This paper briefly describes the basic configuration and experimental design of the CAS-ESM2.0 for G1ext,which involves a sudden reduction in solar irradiance to counterbalance the radiative forcing of an abrupt quadrupling of atmospheric CO_(2) concentration,running for 100 years.Preliminary results show that this model can reproduce well the compensatory effect of a uniform decrease in global solar radiation on the radiative forcing resulting from an abrupt quadrupling of CO_(2) concentration.Like other Earth system models,CAS-ESM2.0 reasonably captures variations in radiative adjustments,surface air temperature,and precipitation patterns,both globally and locally,under the G1ext scenario.The generated datasets have been released on the Earth System Grid Federation data server,providing insight into the potential efficacy and impact of solar geoengineering strategies. 展开更多
关键词 CAS-ESM2.0 GeoMIP GEOENGINEERING radiative adjustment temperature PRECIPITATION
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Co-phasing method for sparse aperture optical systems based on multichannel fringe tracking
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作者 AN Qi-chang WANG Kun +2 位作者 LIU Xin-yue LI Hong-wen ZHU Jia-kang 《中国光学(中英文)》 北大核心 2025年第2期401-413,共13页
To realize effective co-phasing adjustment in large-aperture sparse-aperture telescopes,a multichannel stripe tracking approach is employed,allowing simultaneous interferometric measurements of multiple optical paths ... To realize effective co-phasing adjustment in large-aperture sparse-aperture telescopes,a multichannel stripe tracking approach is employed,allowing simultaneous interferometric measurements of multiple optical paths and circumventing the need for pairwise measurements along the mirror boundaries in traditional interferometric methods.This approach enhances detection efficiency and reduces system complexity.Here,the principles of the multibeam interference process and construction of a co-phasing detection module based on direct optical fiber connections were analyzed using wavefront optics theory.Error analysis was conducted on the system surface obtained through multipath interference.Potential applications of the interferometric method were explored.Finally,the principle was verified by experiment,an interferometric fringe contrast better than 0.4 is achieved through flat field calibration and incoherent digital synthesis.The dynamic range of the measurement exceeds 10 times of the center wavelength of the working band(1550 nm).Moreover,a resolution better than one-tenth of the working center wavelength(1550 nm)was achieved.Simultaneous three-beam interference can be achieved,leading to a 50%improvement in detection efficiency.This method can effectively enhance the efficiency of sparse aperture telescope co-phasing,meeting the requirements for observations of 8-10 m telescopes.This study provides a technological foundation for observing distant and faint celestial objects. 展开更多
关键词 stripe tracking wavefront aberration sparse aperture telescope co-phasing adjustment
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Research on Printing Preferences for Skin Color
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作者 WANG Dan GONG Xu-ping +1 位作者 SHANG Xiao-yu HUANG Min 《印刷与数字媒体技术研究》 北大核心 2025年第1期46-52,共7页
In order to study the preferred skin color for printing images,two CMYK images from ISO 400 and one from iStock,including five skin color images of East Asian females was selected in this study.The images were adjuste... In order to study the preferred skin color for printing images,two CMYK images from ISO 400 and one from iStock,including five skin color images of East Asian females was selected in this study.The images were adjusted with the CMYK printing ink volume variation of the single,double and triple channels in the given 280%total ink limit conditions.A larger number of color vision normal observers were organized to carry out the color preference evaluation experiment,and the selected preferred skin colors were analyzed.The distribution range of the chromaticity values for skin color images were obtained and the results indicated that there are three regions for printing skin color preferences,and the observers have a memory preference for brighter,fairer skin colors in young female and a reddish skin colors in girl,which can provide the guidance for color adjustment of printed skin color images. 展开更多
关键词 Preferred skin color Printing images Total ink limit CMYK ink adjustment
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Reevaluating health metrics:Unraveling the limitations of disabilityadjusted life years as an indicator in disease burden assessment
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作者 Ariel Beresniak Dominique Bremond-Gignac +1 位作者 Danielle Dupont Gerard Duru 《World Journal of Methodology》 2025年第1期14-19,共6页
In 1993,the World Bank released a global report on the efficacy of health promotion,introducing the disability-adjusted life years(DALY)as a novel indicator.The DALY,a composite metric incorporating temporal and quali... In 1993,the World Bank released a global report on the efficacy of health promotion,introducing the disability-adjusted life years(DALY)as a novel indicator.The DALY,a composite metric incorporating temporal and qualitative data,is grounded in preferences regarding disability status.This review delineates the algorithm used to calculate the value of the proposed DALY synthetic indicator and elucidates key methodological challenges associated with its application.In contrast to the quality-adjusted life years approach,derived from multi-attribute utility theory,the DALY stands as an independent synthetic indicator that adopts the assumptions of the Time Trade Off utility technique to define Disability Weights.Claiming to rely on no mathematical or economic theory,DALY users appear to have exempted themselves from verifying whether this indicator meets the classical properties required of all indicators,notably content validity,reliability,specificity,and sensitivity.The DALY concept emerged primarily to facilitate comparisons of the health impacts of various diseases globally within the framework of the Global Burden of Disease initiative,leading to numerous publications in international literature.Despite widespread adoption,the DALY synthetic indicator has prompted significant methodological concerns since its inception,manifesting in inconsistent and non-reproducible results.Given the substantial diffusion of the DALY indicator and its critical role in health impact assessments,a reassessment is warranted.This reconsideration is imperative for enhancing the robustness and reliability of public health decisionmaking processes. 展开更多
关键词 Disability adjusted life years Cost-utility analyses Outcome research Public health Burden of disease
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Stock index adjustments and analysts' forecast optimism:A quasi-natural experiment on the CSI 300 Index
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作者 Shangkun Liang Huaigu Cui Chun Yuan 《China Journal of Accounting Research》 2022年第3期28-56,共29页
As stock index adjustments comprise a basic system of capital market,their potential influence on analysts’earnings forecasts is worthy of research.Based on a research sample of 23 adjustments to the CSI 300 Index fr... As stock index adjustments comprise a basic system of capital market,their potential influence on analysts’earnings forecasts is worthy of research.Based on a research sample of 23 adjustments to the CSI 300 Index from June 2007 to June 2018 and the backup stocks announced during the same period,this study examines the impact of additions to stock index on analysts’forecast optimism using a staggered difference-in-differences model.The research results show that after stocks are added to the stock index,analysts’earnings forecast optimism about these stocks increases significantly.Cross-sectional analysis indicates that this increase is more significant when the market is bullish,institutional ownership is low,the ratio of listed brokerage firms is low,star analyst coverage is low,firms show seasoned equity offering activity,the ratio of analysts from the top five brokerage firms ranked by commission income is high,and the analysts’brokerage firms are shareholders.However,analystlevel tests find that analysts’ability helps to reduce the impact of additions to stock index on earnings forecast optimism.Furthermore,additions to stock index significantly increase analyst coverage and forecast divergence.Economic consequences tests find additions to stock index significantly increases stock price synchronization,which is partly mediated by analysts’earnings forecast optimism.This study enriches the literature on the impact of basic capital market systems and analyst behavior.The findings suggest that investors should rationally evaluate analysts’earnings forecasts for stocks added to the stock index and obtain further information from various channels to improve asset allocation efficiency. 展开更多
关键词 Stock index adjustments Backup stocks Analyst forecasts OPTIMISM Stock price synchronization
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