67
Views
0
CrossRef citations to date
0
Altmetric
Research Article

Synchronicity and Sentiment: Decoding Earnings Quality and Market Returns in EU under Economic Policy Uncertainty

&

References

  • Al-Debi’e, M. M., and M. Abu Nassar. 1999. “Specification of the Relationship between Stock Returns and the Accounting Earnings of Jordanian Companies.” Dirasat, Administration Sciences 26 (2):312–29.
  • Ali, A., and P. Zarowin. 1992. “The Role of Earnings Level in Earnings Return Studies.” Journal of Accounting Research 30 (2):286–96. doi:10.2307/2491128
  • Ali, A., and U. G. Gurun. 2009. “Investor Sentiment, Accruals Anomaly, and Accruals Management.” Journal of Accounting, Auditing & Finance 24 (3):415–31. doi:10.1177/0148558X0902400305
  • Ali, A., M. Liu, D. Xu, and T. Yao. 2016. “Corporate Disclosure, Analyst Forecast Dispersion and Stock Returns.” Journal of Accounting, Auditing & Finance 34 (1):54–73. doi:10.1177/0148558X16674857
  • Almahrog, Y., Z. Ali Aribi, and T. Arun. 2018. “Earnings Management and Corporate Social Responsibility: UK Evidence.” Journal of Financial Reporting and Accounting 16 (2):311–32. doi:10.1108/JFRA-11-2016-0092
  • Antonakakis, N., I. Chatziantoniou, and G. Filis. 2013. “Dynamic Co-Movements of Stock Market Returns, Implied Volatility and Policy Uncertainty.” Economics Letters 120 (1):87–92. doi:10.1016/j.econlet.2013.04.004
  • Antonio, M. S., S. F. Laela, and R. R. Darmawan. 2019. “Corporate Governance, Earnings Quality and Market Response: Comparison of Islamic and non-Islamic Stock in the Indonesian Capital Market.” Academy of Accounting and Financial Studies Journal 23:1–22.
  • Arellano, M., and,S. Bond. 1991. “Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations.” The Review of Economic Studies 58 (2):277. doi:10.2307/2297968
  • Athanassakos, G., and M. Kalimipalli. 2003. “Analyst Forecast Dispersion and Future Stock Return Volatility.” Quarterly Journal of Business and Economics 42(½):57–78.
  • Avci, O. B., and P. E. Mandaci. 2014. “Effect of Investor Sentiment on Stock Markets.” Finansal Arastirmalar Ve Calismalar Dergisi 6:51–64.
  • Baker, M., and J. Wurgler. 2006. “Investor Sentiment and the Cross-Section of Stock Returns.” The Journal of Finance 61 (4):1645–80. doi:10.1111/j.1540-6261.2006.00885.x
  • Baker, M., and J. Wurgler. 2007. “Investor Sentiment in the Stock Market.” Journal of Economic Perspectives 21 (2):129–51. doi:10.1257/jep.21.2.129
  • Baker, S. R., N. Bloom, and S. J. Davis. 2016. “Measuring Economic Policy Uncertainty.” The Quarterly Journal of Economics 131 (4):1593–636. doi:10.1093/qje/qjw024
  • Balli, F., H. O. Balli, M. Hasan, and R. G. Allen. 2020. “Economic Policy Uncertainty Spillover Effects on Sectoral Equity Returns of New Zealand.” Journal of Economics and Finance 44 (4):670–86. doi:10.1007/s12197-020-09508-6
  • Barron, O. E., M. H. Stanford, and Y. Yu. 2010. “Further Evidence on the Relation between Analysts’ Forecast Dispersion and Stock Returns.” Contemporary Accounting Research 26 (2):329–57. doi:10.1506/car.26.2.1
  • Bashirimanesh, N., and J. Oradi. 2019. “Investor Sentiment and Accounting Earnings Management.” Empirical Research in Accounting 9 (3):77–99.
  • Batabyal, S., and R. Killins. 2021. “Economic Policy Uncertainty and Stock Market Returns: Evidence from Canada.” The Journal of Economic Asymmetries 24: E 00215. doi:10.1016/j.jeca.2021.e00215
  • Bathia, D., and D. Bredin. 2013. “An Examination of Investor Sentiment Effect on G7 Stock Market Returns.” The European Journal of Finance 19 (9):909–37. doi:10.1080/1351847X.2011.636834
  • Beaulieu, M. –C., J. –C. Cosset, and N. Essaddam. 2006. “Political Uncertainty and Stock Market Returns: Evidence from the 1995 Quebec Referendum.” Canadian Journal of Economics/Revue Canadienne D'économique 39 (2):621–42. doi:10.1111/j.0008-4085.2006.00363.x
  • Bellemare, M. F.Takaaki Masaki, andT. B. Pepinsky. 2017. “Lagged Explanatory Variables and the Estimation of Causal Effect.” The Journal of Politics 79 (3):949–63. doi:10.1086/690946
  • Bilinski, P., D. Lyssimachou, and M. Walker. 2013. “Target Price Accuracy: International Evidence.” The Accounting Review 88 (3):825–51. doi:10.2308/accr-50378
  • Blundell, R., and,S. Bond. 1998. “Initial Conditions and Moment Restrictions in Dynamic Panel Data Models.” Journal of Econometrics 87 (1):115–43. doi:10.1016/S0304-4076(98)00009-8
  • Bowers, A. H., H. R. Greve, H. Mitsuhashi, and J. A. Baum. 2014. “Competitive Parity, Status Disparity, and Mutual Forbearance: Securities Analysts’ Competition for Investor Attention.” Academy of Management Journal 57 (1):38–62. doi:10.5465/amj.2011.0818
  • Brown, G. N., and M. T. Cliff. 2004. “Investor Sentiment and the near-Term Stock Market.” Journal of Empirical Finance 11 (1):1–27. doi:10.1016/j.jempfin.2002.12.001
  • Brown, N., T. Christensen, W. Elliott, and R. Mergenthaler. 2012. “Investor Sentiment and Pro Forma Earnings Disclosures.” Journal of Accounting Research 50 (1):1–40. doi:10.1111/j.1475-679X.2011.00427.x
  • Canbas, S., and S. Y. Kandir. 2009. “Investor Sentiment and Stock Returns: Evidence from Turkey.” Emerging Markets Finance and Trade 45 (4):36–52.
  • Chan, K., and A. Hameed. 2006. “Stock Price Synchronicity and Analyst Coverage in Emerging Markets.” Journal of Financial Economics 80 (1):115–47. doi:10.1016/j.jfineco.2005.03.010
  • Changsheng, H., and Y. Yongfeng. 2012. “Investor Sentiment and Assets Valuation.” Systems Engineering Procedia 3:166–71. doi:10.1016/j.sepro.2011.11.023
  • Chen, J., F. Jiang, and G. Tong. 2017. “Economic Policy Uncertainty in China and Stock Market Expected Returns.” Accounting & Finance 57 (5):1265–86. doi:10.1111/acfi.12338
  • Chong, T. T.-L., and X. Wang. 2009. “The Nexus between Analyst Forecast Dispersion and Expected Returns Surrounding Stock Market Crashes.” Journal of Risk and Financial Management 2 (1):75–93. doi:10.3390/jrfm2010075
  • Christou, C., J. Cunado, R. Gupta, and C. Hassapis. 2017. “Economic Policy Uncertainty and Stock Market Returns in Pacific Rim Countries: Evidence Based on a Bayesian Panel VAR Model.” Journal of Multinational Financial Management 40:92–102. doi:10.1016/j.mulfin.2017.03.001
  • Chuang, W.-J., L.-Y. Ouyang, and W.-C. Lo. 2010. “The Impact of Investor Sentiment on Excess Returns: A Taiwan Market Case.” International Journal of Information and Management Sciences 21:13–28.
  • Connolly, R., C. Stivers, and S. Licheng. 2005. “Stock Market Uncertainty and the Stock-Bond Return Relation.” Journal of Financial and Quantitative Analysis 40 (1):161–94. doi:10.1017/S0022109000001782
  • Cormier, D., S. Houle, and M.-J. Ledoux. 2013. “The Incidence of Earnings Management on Information Asymmetry in an Uncertain Environment: Some Canadian Evidence.” Journal of International Accounting, Auditing and Taxation 22 (1):26–38. doi:10.1016/j.intaccaudtax.2013.02.002
  • Dasgupta, S., J. Gan, and N. Gao. 2010. “Transparency, Price Informativeness, and Stock Return Synchronicity: Theory and Evidence.” Journal of Financial and Quantitative Analysis 45 (5):1189–220. doi:10.1017/S0022109010000505
  • Desai, H., S. Krishnamurthy, and K. Venkataraman. 2006. “Do Short Sellers Target Firms with Poor Earnings Quality? Evidence from Earnings Restatements.” Review of Accounting Studies 11 (1):71–90. doi:10.1007/s11142-006-6396-x
  • Díaz, A., and C. Esparcia. 2019. “Assessing Risk Aversion from the Investor’s Point of View.” Frontiers in Psychology 10:1490. doi:10.3389/fpsyg.2019.01490
  • Diether, K. B., C. J. Malloy, and A. Scherbina. 2002. “Differences of Opinion and the Cross Section of Stock Returns.” The Journal of Finance 57 (5):2113–41. doi:10.1111/0022-1082.00490
  • Ding, D. K., C. Charoenwong, and R. Seetoh. 2004. “Prospect Theory, Analyst Forecasts and Stock Returns.” Journal of Multinational Financial Management 14 (4–5):425–42. doi:10.1016/j.mulfin.2004.03.005
  • Farooq, O., and M. Hamouda. 2016. “Stock Price Synchronicity and Information Disclosure: Evidence from an Emerging Market.” Finance Research Letters 18:250–4. doi:10.1016/j.frl.2016.04.024
  • Filbeck, G., V. Ricciardi, H. R. Evensky, S. Z. Fan, H. M. Holzhauer, and A. Spieler. 2017. “Behavioral Finance: A Panel Discussion.” Journal of Behavioral and Experimental Finance 15:52–8. doi:10.1016/j.jbef.2017.07.008
  • Francis, J., R. Lafond, M. P. Olsson, and K. Schipper. 2004. “Cost of Capital and Earnings Attribute.” The Accounting Review 79 (4):967–1010. doi:10.2308/accr.2004.79.4.967
  • Gao, B., and C. Yang. 2018. “Investor Trading Behavior and Sentiment in Futures Markets.” Emerging Markets Finance and Trade 54 (3):707–20. doi:10.1080/1540496X.2016.1262760
  • Giot, P. 2005. “Relationships between Implied Volatility Indexes and Stock Index Returns.” The Journal of Portfolio Management 31 (3):92–100. doi:10.3905/jpm.2005.500363
  • Graham, R., R. King, and J. Bailes. 2000. “The Value Relevance of Accounting Information during a Financial Crisis: Thailand and the 1997 Decline in the Value of the Baht.” Journal of International Financial Management & Accounting 11 (2):84–107. doi:10.1111/1467-646X.00057
  • Grinblatt, M. S., R. W. Masulis, and S. Titman. 1984. “The Valuation Effects of Stock Splits and Stock Dividends.” Journal of Financial Economics 13 (4):461–90. doi:10.1016/0304-405X(84)90011-4
  • Habib, A., M. Hossain, and H. Jiang. 2011. “Environmental Uncertainty and the Market Pricing of Earnings Smoothness.” Advances in Accounting 27 (2):256–65. doi:10.1016/j.adiac.2011.04.003
  • Haque, A., H. Fatima, A. Abid, and M. A. J. Qamar. 2019. “Impact of Firm-Level Uncertainty on Earnings Management and Role of Accounting Conservatism.” Quantitative Finance and Economics 3 (4):772–94. doi:10.3934/QFE.2019.4.772
  • Hirshleifer, D. 2015. “Behavioral Finance.” Annual Review of Financial Economics 7 (1):133–59. doi:10.1146/annurev-financial-092214-043752
  • Hofstede, G. 2011. “Dimensionalizing Cultures: The Hofstede Model in Context.” Online Readings in Psychology and Culture 2 (1):8. doi:10.9707/2307-0919.1014
  • Hoque, M. E., and M. A. S. Zaidi. 2019. “The Impacts of Global Economic Policy Uncertainty on Stock Market Returns in Regime Switching Environment: Evidence from Sectoral Perspectives.” International Journal of Finance & Economics 24 (2):991–1016. doi:10.1002/ijfe.1702
  • Hsieh, S. F., C. Y. Chan, and M. C. Wang. 2020. “Retail Investor Attention and Herding Behavior.” Journal of Empirical Finance 59:109–32. doi:10.1016/j.jempfin.2020.09.005
  • Huang, C., X. Yang, X. Yang, and H. Sheng. 2014. “An Empirical Study of the Effect of Investor Sentiment on Returns of Different Industries.” Mathematical Problems in Engineering 2014:1–11. doi:10.1155/2014/545723
  • Jiraporn, P., G. A. Miller, S. S. Yoon, and Y. S. Kim. 2008. “Is Earnings Management Opportunistic or Beneficial? An Agency Theory Perspective.” International Review of Financial Analysis 17 (3):622–34. doi:10.1016/j.irfa.2006.10.005
  • Johnman, M., B. J. Vanstone, and A. Gepp. 2018. “Predicting FTSE 100 Returns and Volatility Using Sentiment Analysis.” Accounting & Finance 58 (S1):253–74. doi:10.1111/acfi.12373
  • Johnson, T. C. 2004. “Forecast Dispersion and the Cross Section of Expected Returns.” The Journal of Finance 59 (5):1957–78. doi:10.1111/j.1540-6261.2004.00688.x
  • Jones, P. M., and E. Olson. 2013. “The Time-Varying Correlation between Uncertainty, Output, and Inflation: Evidence from a DCC-GARCH Model.” Economics Letters 118 (1):33–7. doi:10.1016/j.econlet.2012.09.012
  • Kanagaretnam, K., C. Y. Lim, and G. J. Lobo. 2011. “Effects of National Culture on Earnings Quality of Banks.” Journal of International Business Studies 42 (6):853–74. doi:10.1057/jibs.2011.26
  • Khan, M. A., and E. Ahmad. 2019. “Measurement of Investor Sentiment and Its Bi-Directional Contemporaneous and Lead-Lag Relationship with Returns: Evidence from Pakistan.” Sustainability 11 (94):1–2.
  • Kim, K., S. Pandit, and C. E. Wasley. 2016. “Macroeconomic Uncertainty and Management Earnings Forecasts.” Accounting Horizons 30 (1):157–72. doi:10.2308/acch-51311
  • Kumar, A., and C. M. C. Lee. 2006. “Retail Investor Sentiment and Returns Comovements.” The Journal of Finance 61 (5):2451–86. doi:10.1111/j.1540-6261.2006.01063.x
  • Kundu, S., and A. Paul. 2022. “Effect of Economic Policy Uncertainty on Stock Market Return and Volatility under Heterogeneous Market Characteristics.” International Review of Economics & Finance 80:597–612. doi:10.1016/j.iref.2022.02.047
  • Kyiu, A., E. Jones, and H. Li. 2022. “Stock Return Synchronicity in a Weak Information Environment: Evidence from African Markets.” International Journal of Managerial Finance 19 (2):446–69. doi:10.1108/IJMF-08-2021-0378
  • Lee, W. Y., C. X. Jiang, and D. C. Indro. 2002. “Stock Market Volatility, Excess Returns, and the Role of Investor Sentiment.” Journal of Banking & Finance 26 (12):2277–99. doi:10.1016/S0378-4266(01)00202-3
  • Levy, J. S. 1992. “An Introduction to Prospect Theory.” Political Psychology 13 (2):171–86.
  • Li, J., and J. A. Born. 2006. “Presidential Election Uncertainty and Common Stock Returns in the United States.” Journal of Financial Research 29 (4):609–22. doi:10.1111/j.1475-6803.2006.00197.x
  • Li, L., and C. R. Chen. 2016. “Analysts’ Forecast Dispersion and Stock Returns: A Panel Threshold Regression Analysis Based on Conditional Limited Market Participation Hypothesis.” Finance Research Letters 18:100–7. doi:10.1016/j.frl.2016.04.006
  • Li, M.-Y., and J.-S. Wu. 2014. “Analysts’ Forecast Dispersion and Stock Returns: A Quantile Regression Approach.” Journal of Behavioral Finance 15 (3):175–83. doi:10.1080/15427560.2014.942420
  • Liu, W. H. 2019. “National Culture Effects on Stock Market Volatility Level.” Empirical Economics 57 (4):1229–53. doi:10.1007/s00181-018-1502-z
  • Lo, H.-C., and F. Rahadi. 2017. “Analyst Coverage and Stock Returns.” Journal of Business and Management Sciences 5 (2):42–56.
  • Loughran, T., and J. W. Wellman. 2011. “New Evidence on the Relation between the Enterprise Multiple and Average Stock Returns.” Journal of Financial and Quantitative Analysis 46 (6):1629–50. doi:10.1017/S0022109011000445
  • Miranda, K. F., M. A. V. Machado, and L. A. F. Macedo. 2018. “Investor Sentiment and Earnings Management: Does Analysts’ Monitoring Matter?” Revista De Administracao Mackenzie 19 (4):1–29.
  • Morck, R., B. Yeung, and W. Yu. 2000. “The Information Content of Stock Markets: Why Do Emerging Markets Have Synchronous Stock Price Movements?” Journal of Financial Economics 58 (1-2):215–60. doi:10.1016/S0304-405X(00)00071-4
  • Namira, F., and B. Y. Nugroho. 2016. “Effect of Enterprise Multiple on Stock Return Non-Financial Companies in Indonesian Stock Exchange.” International Journal of Administrative Science and Organization 23 (2):86–94.
  • Neilson, J. J. 2022. “Investor Information Gathering and the Resolution of Uncertainty.” Journal of Accounting and Economics 74 (1):101513. doi:10.1016/j.jacceco.2022.101513
  • Oppenheimer, H. R., and G. G. Schlarbaum. 1981. “Investing with Ben Graham: An Ex Ante Test of the Efficient Markets Hypothesis.” The Journal of Financial and Quantitative Analysis 16 (3):341–60. doi:10.2307/2330242
  • Park, S. 2015. “Investor Sentiment and Earnings Management: Evidence from Korea.” Investment Management and Financial Innovations 12 (4):81–9.
  • Peng, G., Z. Huiming, and Y. Wanhai. 2018. “Asymmetric Dependence between Economic Policy Uncertainty and Stock Market Returns in G7 and BRIC: A Quantile Regression Approach.” Finance Research Letters 25:251–8.
  • Persakis, A., and G. Iatridis. 2016. “Audit Quality, Investor Protection and Earnings Management during the Financial Crisis of 2008: An International Perspective.” Journal of International Financial Markets, Institutions and Money 41:73–101. doi:10.1016/j.intfin.2015.12.006
  • Qiang, Z., and Y. Shu-e. 2009. “Noise Trading, Investor Sentiment Volatility, and Stock Returns.” Systems Engineering - Theory & Practice 29 (3):40–7. doi:10.1016/S1874-8651(10)60010-5
  • Rao, L., and L. Zhou. 2019. “The Role of Stock Price Synchronicity on the Return-Sentiment Relation.” The North American Journal of Economics and Finance 47:119–31. doi:10.1016/j.najef.2018.12.008
  • Reddy, Y. V., and P. Narayan. 2016. “Literature on Stock Returns: A Content Analysis.” Amity Journal of Finance 1 (1):194–207.
  • Reed, W. R. 2015. “On the Practice of Lagging Variables to Avoid Simultaneity.” Oxford Bulletin of Economics and Statistics 77 (6):897–905. doi:10.1111/obes.12088
  • Renault, T. 2017. “Intraday Online Investor Sentiment and Return Patterns in the U.S. stock Market.” Journal of Banking & Finance 84:25–40. doi:10.1016/j.jbankfin.2017.07.002
  • Richardson, S. A. 2003. “Earnings Quality and Short Sellers.” Accounting Horizons 17 (s-1):49–61. doi:10.2308/acch.2003.17.s-1.49
  • Richardson, V. J. 2000. “Information Asymmetry and Earnings Management: Some Evidence.” Review of Quantitative Finance and Accounting 15 (4):325–47. doi:10.1023/A:1012098407706
  • Sancetta, G., A. Renzi, and B. Orlando. 2012. “Dispersion in Analysts’ Forecasts and Stock Prices: An Empirical Test.” China-USA Business Review 11 (9):1199–204.
  • Santana, C. V. S., L. P. G. D. Santos, C. V. D. O. Carvalho Júnior, and A. L. Martinez. 2020. “Investor Sentiment and Earnings Management in Brazil.” Revista Contabilidade & Finanças 31 (83):283–301. doi:10.1590/1808-057x201909130
  • Sarwar, G. 2014. “U.S. Stock Market Uncertainty and Cross-Market European Stock Returns.” Journal of Multinational Financial Management 28:1–14. doi:10.1016/j.mulfin.2014.07.001
  • Simpson, A. 2013. “Does Investor Sentiment Affect Earnings Management?” Journal of Business Finance & Accounting 40 (7-8):869–900. doi:10.1111/jbfa.12038
  • Smales, L. A. 2017. “The Importance of Fear: Investor Sentiment and Stock Market Returns.” Applied Economics 49 (34):3395–421. doi:10.1080/00036846.2016.1259754
  • Sullivan, J. H., M. Warkentin, and L. Wallace. 2021. “So Many Ways for Assessing Outliers: What Really Works and Does It Matter?” Journal of Business Research 132:530–43. doi:10.1016/j.jbusres.2021.03.066
  • Tarmidi, D., E. Murwaningsari, and Z. M. Ahnan. 2021. “Earnings Quality and Audit Quality: Analysis of Investor Reaction.” Humanities and Social Sciences Letters 9 (3):250–9. doi:10.18488/journal.73.2021.93.250.259
  • Ullah, S.,P. Akhtar, andG. Zaefarian. 2018. “Dealing with Endogeneity Bias: The Generalized Method of Moments (GMM) FOR Panel Data.” Industrial Marketing Management 71:69–78. doi:10.1016/j.indmarman.2017.11.010
  • Verma, R., and P. Verma. 2007. “Noise Trading and Stock Market Volatility.” Journal of Multinational Financial Management 17 (3):231–43. doi:10.1016/j.mulfin.2006.10.003
  • Viana, D. B. C., Jr, I. M. E. C. Lourenço, M. Ohlson, and S. F. Augusto, and G. de Lima. 2022. “National Culture and Earnings Management in Developed and Emerging Countries.” Journal of Accounting in Emerging Economies 12 (1):150–86. doi:10.1108/JAEE-12-2020-0323
  • Xu, Y., J. Wang, Z. Chen, and C. Liang. 2021. “Economic Policy Uncertainty and Stock Market Returns: New Evidence.” The North American Journal of Economics and Finance 58:101525. doi:10.1016/j.najef.2021.101525
  • Yang, H.,D. Ryu, andD. Ryu. 2017. “Investor Sentiment, Asset Returns and Firm Characteristics: Evidence from the Korean Stock Market.” Investment Analysts Journal 46 (2):132–47. doi:10.1080/10293523.2016.1277850
  • Yang, Z., R. Su, Q. Zhang, and S. Ying. 2014. “Managers’ Incentives, Earnings Management Strategies, and Investor Sentiment.” International Journal of Business and Economics 13 (2):157.
  • Youmans, T., and B. Tomlinson. 2018. “Six Reasons Why Companies Should Start Sharing Their Long-Term Thinking with Investors.” MIT Sloan Management Review 59 (3):1–5.
  • Yu, J.,H.-H. Huang, andS.-W. Hsu. 2014. “Investor Sentiment Influence on the Risk-Reward Relation in the Taiwan Stock Market.” Emerging Markets Finance and Trade 50 (sup2):174–88. doi:10.2753/REE1540-496X5002S212
  • Yu, J., and Y. Yuan. 2011. “Investor Sentiment and the Mean-Variance Relation.” Journal of Financial Economics 100 (2):367–81. doi:10.1016/j.jfineco.2010.10.011
  • Yung, K., and A. Root. 2019. “Policy Uncertainty and Earnings Management: International Evidence.” Journal of Business Research 100:255–67. doi:10.1016/j.jbusres.2019.03.058
  • Zahera, S. A., and R. Bansal. 2018. “Do Investors Exhibit Behavioral Biases in Investment Decision Making? A Systematic Review.” Qualitative Research in Financial Markets 10 (2):210–51. doi:10.1108/QRFM-04-2017-0028
  • Ziwei, W., Y. Li, and H. Feng. 2020. “Asymmetric Volatility Spillovers between Economic Policy Uncertainty and Stock Markets: Evidence from China.” Research in International Business and Finance 53:101233. doi:10.1016/j.ribaf.2020.101233

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.