Article Highlights
Updates every hour. Last Updated: 20-Dec-2025 02:11 ET (20-Dec-2025 07:11 GMT/UTC)
Historical high prices drive seasoned equity offerings in China
Shanghai Jiao Tong University Journal CenterAbstract
Purpose – We are the first to investigate the relationship between seasoned equity offerings (SEOs) and anchoring on historical high prices in China.
Design/methodology/approach – We use the ratio of the recent closing price to its historical high in the previous 12–60 months (anchoring-high-price ratio) to study its impact on the market timing of SEOs.
Findings – Empirical results show that the anchoring-high-price ratio significantly and positively affects the probability of additional stock issuances. Contrary to the USA market, the Chinese stock market reacts negatively to the SEOs at historical highs. Moreover, the anchoring-high-price ratio exacerbates the negative effect of announcements and leads to long-term underperformance. Finally, we investigate the impact of the anchoring-high-price ratio on a company’s capital structure, showing that the additional issuance anchoring on historical highs reduces the company’s leverage ratio in the long run. Overall, our findings support the anchoring theory and can help understand better the anchoring behavior of managers and the company’s decision on additional stock issuances.
Originality/value – We are the first to use the anchoring-high-price ratio to study the timing of SEOs. We find that the anchoring-high-priceratio positively affects the probability of SEOs. Unlike the USA, the Chinese stock market reacts negatively to SEOs at high prices. SEOs anchoring on historical highs reduce a firm’s leverage ratio in the long run. Finally, our results support the anchoring theory.
- Journal
- China Finance Review International
Checking your assumptions
King Abdullah University of Science & Technology (KAUST)- Journal
- Journal of the Royal Statistical Society Series B Statistical Methodology
New fuel technology offers cleaner, more efficient diesel engines
Biochar Editorial Office, Shenyang Agricultural University- Journal
- Carbon Research
Researchers link neuronal hyperactivity and broader tuning with altered sound processing
Beckman Institute for Advanced Science and Technology- Journal
- PLOS Biology
- Funder
- NIH/National Institute on Deafness and Other Communication Disorders, NIH/Eunice Kennedy Shriver National Institute of Child Health and Human Development
Mindfulness and self-compassion - allies in the struggle with depression
SWPS University- Journal
- Archives of Psychiatry and Psychotherapy
- Funder
- Fundacja na rzecz Nauki Polskiej, Narodowe Centrum Nauki
Open BIM exchange on Blockchain 3.0 virtual disk: A traceable semantic differential transaction approach
Higher Education PressA new study published in Frontiers of Engineering Management presents a novel blockchain-enabled Open BIM data exchange paradigm based on a traceable semantic differential transaction (tSDT) approach. The tSDT approach minimizes data redundancy and enables semantic-level traceability of BIM changes. A Blockchain 3.0 application named openBIMdisk implements the tSDT approach and provides an intuitive and user-friendly interface for BIM practitioners.
- Journal
- Frontiers of Engineering Management
Emotion dual-space network based on common and discriminative features for multimodal teacher emotion recognition
Higher Education PressTeacher emotion recognition (TER) is crucial for classroom dynamics, yet limited by scarce multimodal data and feature modeling. We present a multimodal TER dataset with 102 lessons and 2,170 video segments, annotated with interaction-based emotional tags. We propose an Emotion Dual-Space Network (EDSN) with a Commonality Space (ECSC) using central moment differences to align modalities, and a Discrimination Space (EDSC) using gradient reversal and orthogonal projection to extract unique features. EDSN achieves 77.0% accuracy and 0.769 F1-score on the dataset, outperforming state-of-the-art models, demonstrating its effectiveness in educational emotion recognition.
- Journal
- Frontiers of Digital Education
Advancements in proteogenomics for preclinical targeted cancer therapy research repair
Higher Education PressAdvancements in molecular characterization technologies have accelerated targeted cancer therapy research at unprecedented resolution and dimensionality. Integrating comprehensive multi-omic molecular profiling of a tumor, proteogenomics, marks a transformative milestone for preclinical cancer research. In this paper, we initially provided an overview of proteogenomics in cancer research, spanning genomics, transcriptomics, and proteomics. Subsequently, the applications were introduced and examined from different perspectives, including but not limited to genetic alterations, molecular quantifications, single-cell patterns, different post-translational modification levels, subtype signatures, and immune landscape. We also paid attention to the combined multi-omics data analysis and pan-cancer analysis. This paper highlights the crucial role of proteogenomics in preclinical targeted cancer therapy research, including but not limited to elucidating the mechanisms of tumorigenesis, discovering effective therapeutic targets and promising biomarkers, and developing subtype-specific therapies.
- Journal
- Biophysics Reports
Single-molecule techniques in studying the molecular mechanisms of DNA synapsis in non-homologous end-joining repair
Higher Education PressDNA double-strand breaks (DSBs) are the most severe form of DNA damage, primarily repaired by non-homologous end joining (NHEJ) pathway. A critical step in this process is DNA synapsis, where the two broken ends are brought together to facilitate timely repair. Deficiencies in NHEJ synapsis can lead to improper DNA end configurations, potentially resulting in chromosomal translocations. NHEJ synapsis is a highly dynamic, multi-protein mediated assembly process. Recent advances in single-molecule techniques have led to significant progress in understanding the molecular mechanisms driving NHEJ synapsis. In this review, we summarize single-molecule methods developed for studying NHEJ synapsis, with a particular focus on the single-molecule fluorescence resonance energy transfer (smFRET) technique. We discuss the various molecular mechanisms of NHEJ synapsis uncovered through these studies and explore the coupling between synapsis and other steps in NHEJ. Additionally, we highlight the strategies, limitations, and future directions for single-molecule studies of NHEJ synapsis.
- Journal
- Biophysics Reports