In other words, if institutional and individual expectations

英语翻译
Recent research finds that country-level institutional factors are associated with the usefulness of accrual-based accounting information.One implication of this research is that poor investor protection laws and weak law enforcement result in environments in which earnings are less likely to capture underlying economic events.While this research suggests that weak investor protection institutions limit earnings’ usefulness,it does not address how information markets respond to these limitations.We conjecture that investors are more likely to demand cash flow information in environments in which earnings are less likely to capture underlying economic events,because cash flows are useful in supplementing and interpreting the information in reported earnings and thus are likely to help attenuate the adverse effects of weak investor protection on earnings’ usefulness.We expect further that analysts respond to this demand by providing investors with additional cash flow information,because analysts are information intermediaries with incentives to meet investors’ information demands.An important way in which analysts provide investors information is through their forecasts.Therefore,the purpose of our investigation is to test the association between analysts’ propensity to forecast cash flows and the strength of investor protection institutions.
最近的研究发现，国家级体制因素与以权责发生制为基础的会计信息的实用性相关。这个研究意味着，在投资者保护法不完善和执法不力的环境法下，收益是不太可能反映出潜在经济活动的结果。虽然这一研究表明，投资者保护体系的不足限制收益实用性，它并没有说明怎样突破这些信息市场的限制。我们推测出在收益很难反映潜在的经济活动的环境下，投资者更倾向于需要现金流量表信息，因为现金流量能对收益报告补充和解释更多有用的信息，这样才有可能帮助减缓在收益实用性方面对弱投资者的不利影响。我们期待着更多的分析师作出响应，提供额外的现金流量信息，因为分析师是满足投资者的信息需求获取奖励的信息中介。分析师为投资者提供信息的一个重要方式是通过他们的预测。因此，我们调查的目的是测试分析师们现金流量预测倾向和投资者保护制度之间的关系。

英语翻译
所以说虽然Institutional adverstising不推广具体的公司产品,但却能促进公司的良好形象.一个好形象对于一个公司来说是非常重要的.

thomson reuters cda/spectrum institutional holdings detabase是什么意思

谁知道这句话什么意思“INSTITUTIONAL INVESTMENT IN LISTED PRIVATE EQUITY” 这是一篇论文的标题
顺便能不能把摘要大意告诉我呀 小妹感激不尽 This paper examines institutional investors’ propensity to invest in a relatively unknown asset class of listed private equity.Based on data provided by LPEQ and Preqin covering 100 institutional investors in Europe in 2008,we find allocations are primarily a function of size,type,location,decisionmaking authority and liquidity preferences.Investment in listed private equity is more commonly made by institutions that are smaller,private (not public) pension institutions,institutions that have a preference for liquidity,and institutions that are based in the UK.As well,institutions are more likely to invest in listed private equity when investment decision-making is not empowered to a private equity team,an alternative asset class team,or a board / investment committee,but are more likely when decision-making is delegated to an equities team