Molding CNNs for text: non-linear, non-consecutive convolutions

The success of deep learning often derives from well-chosen operational building blocks. In this work, we revise the temporal convolution operation in CNNs to better adapt it to text processing. Instead of concatenating word representations, we appeal to tensor algebra and use low-rank n-gram tensors to directly exploit interactions between words already at the convolution stage. Moreover, we extend the n-gram convolution to non-consecutive words to recognize patterns with intervening words. Through a combination of low-rank tensors, and pattern weighting, we can efficiently evaluate the resulting convolution operation via dynamic programming. We test the resulting architecture on standard sentiment classification and news categorization tasks. Our model achieves state-of-the-art performance both in terms of accuracy and training speed. For instance, we obtain 51.2% accuracy on the fine-grained sentiment classification task

Regulatory incentives and financial reporting quality in public healthcare organisations

English National Health Service Foundation Trusts are subject to a regulatory regime in which the level of monitoring and intervention is determined by performance against two key performance metrics: a ‘financial risk rating’, based on a number of performance metrics, such as the reported surplus margin and return on assets, and a ‘prudential borrowing limit’. In this paper, we investigate the variation in financial reporting quality, proxied by discretionary accruals, with the incentives introduced by this regime. We find: first, that discretionary accruals are managed to report small surpluses; second, that, consistent with the avoidance of regulatory intervention in both the short and medium term, discretionary accruals are more positive when pre-managed performance is below intervention triggering thresholds and more negative when well above threshold; third, that, despite a move away from financial breakeven as the primary performance objective, there remains an aversion to small loss reporting. We further find that the level of discretionary accruals is driven by two metrics of strategic significance: the surplus margin (a measure of retained earnings) and the prudential borrowing limit (a measure of borrowing capacity)