Determinants of earnings management and their effects on the profitability, market, liquidity and activity ratios for publicly listed firms in the Philippines from 2008 to 2012

Income manipulation is a primary attribute associated with earnings management in which a company uses various techniques that generally seek to alter financial statement figures for the purpose of providing its stakeholders a comprehension or interpretation that favor its reputation. A degree of fraud can be paralleled with the management tool as the presentation of financial figures often devices stakeholders from various sectors. The deteriorating ability of financial statements to reflect transparency as to the financial standing of companies has prompted the researchers to identify what particular accounts contribute to discretionary accruals and how the latter affects the financial ratios. In pursuing the ultimate goal of the study, the sample size of all publicly listed companies in the Philippines from 2008 to 2012, other than financial institutions and service-oriented business, have been identified through scientific procedures undertaken by the researchers. First, the discretionary accruals using the modified Jones model was computed. This is then followed by panel regressions subjected to various statistical tests to determine the optimal models. Finally, simultaneous equation model (SEM) was conducted to make sense of the relationship of the discretionary accruals to the financial ratios. Statistical results obtained from this study has yielded that accounts receivable, net financial assets, salary expense, property , plant and equipment, long-term debt, and inventory significantly impact the discretionary accruals. As the effect of the 2nd step, discretionary accruals was speculated to have a significant impact on inventory turnover ratio only. Consequently after the simultaneous equation model, it was found that all of the above mentioned accounts besides net financial assets have a significant effect on inventory turnover

Tailoring nanopore formation in atomic layer deposited ultrathin films

\u3cp\u3eSelectivity is a critical attribute of catalysts used in manufacturing of essential and fine chemicals. An excellent way to induce selectivity in catalysts is by using ultrathin films with tailored nanoporosity. For instance, nanopores can be created in atomic layer deposition (ALD) ultrathin over-coatings on supported metal nanoparticles by subjecting the coatings to high temperature annealing. These nanopores expose the active surface of the underlying metal nanoparticles. The dimensions of these nanopores can be tuned to impart shape selectivity: only reactants or products with a specific size or shape can fit inside the pore. In this work, the authors explore the underlying mechanism driving nanopore formation in ALD films. Ultrathin films of ALD TiO\u3csub\u3e2\u3c/sub\u3e (∼2.5 nm thick) and ALD Al\u3csub\u3e2\u3c/sub\u3eO\u3csub\u3e3\u3c/sub\u3e (∼4.9 nm thick) were deposited on nonporous γ-Al\u3csub\u3e2\u3c/sub\u3eO\u3csub\u3e3\u3c/sub\u3e nanoparticles. The pore formation and evolution were monitored in situ during thermal annealing using small-angle x-ray scattering (SAXS), and the crystallinity was monitored by in situ x-ray diffraction. A correlation between the nanopore formation and amorphous to crystalline phase transitions in the ALD layers was observed. The authors hypothesize that the pores form through the relaxation of stress induced by densification of the ALD films during the phase transitions. The authors developed a mathematical model to evaluate this hypothesis and found remarkable agreement between the model and the SAXS measurements.\u3c/p\u3

Size-Selective Synthesis and Stabilization of Small Silver Nanoparticles on TiO₂ Partially Masked by SiO₂

Controlling metal nanoparticle size is one of the principle challenges in developing new supported catalysts. Typical methods where a metal salt is deposited and reduced can result in a polydisperse mixture of metal nanoparticles, especially at higher loading. Polydispersity can exacerbate the already significant challenge of controlling sintering at high temperatures, which decreases catalytic surface area. Here, we demonstrate the size-selective photoreduction of Ag nanoparticles on TiO₂ whose surface has been partially masked with a thin SiO₂ layer. To synthesize this layered oxide material, TiO₂ particles are grafted with <i>tert</i>-butylcalix­[4]­arene molecular templates (∼2 nm in diameter) at surface densities of 0.05–0.17 templates.nm^–2, overcoated with ∼2 nm of SiO₂ through repeated condensation cycles of limiting amounts of tetraethoxysilane (TEOS), and the templates are removed oxidatively. Ag photodeposition results in uniform nanoparticle diameters ≤ 3.5 nm (by transmission electron microscopy (TEM)) on the partially masked TiO₂, whereas Ag nanoparticles deposited on the unmodified TiO₂ are larger and more polydisperse (4.7 ± 2.7 nm by TEM). Furthermore, Ag nanoparticles on the partially masked TiO₂ do not sinter after heating at 450 °C for 3 h, while nanoparticles on the control surfaces sinter and grow by at least 30%, as is typical. Overall, this new synthesis approach controls metal nanoparticle dispersion and enhances thermal stability, and this facile synthesis procedure is generalizable to other TiO₂-supported nanoparticles and sizes and may find use in the synthesis of new catalytic materials

Tailoring nanopore formation in atomic layer deposited ultrathin films

Selectivity is a critical attribute of catalysts used in manufacturing of essential and fine chemicals. An excellent way to induce selectivity in catalysts is by using ultrathin films with tailored nanoporosity. For instance, nanopores can be created in atomic layer deposition (ALD) ultrathin over-coatings on supported metal nanoparticles by subjecting the coatings to high temperature annealing. These nanopores expose the active surface of the underlying metal nanoparticles. The dimensions of these nanopores can be tuned to impart shape selectivity: only reactants or products with a specific size or shape can fit inside the pore. In this work, the authors explore the underlying mechanism driving nanopore formation in ALD films. Ultrathin films of ALD TiO2 (∼2.5 nm thick) and ALD Al2O3 (∼4.9 nm thick) were deposited on nonporous γ-Al2O3 nanoparticles. The pore formation and evolution were monitored in situ during thermal annealing using small-angle x-ray scattering (SAXS), and the crystallinity was monitored by in situ x-ray diffraction. A correlation between the nanopore formation and amorphous to crystalline phase transitions in the ALD layers was observed. The authors hypothesize that the pores form through the relaxation of stress induced by densification of the ALD films during the phase transitions. The authors developed a mathematical model to evaluate this hypothesis and found remarkable agreement between the model and the SAXS measurements