2,288 research outputs found
Preface to Intertwingled: The Work and Influence of Ted Nelson
This is the preface to Intertwingled: The Work and Influence of Ted Nelson , which examines and honors the work and influence of the computer visionary and re-imagines its meaning for the future. Emerging from a conference held in 2014 at Chapman University, it includes contributions from world-renowned computer scientists and media figures.
The full text of this book is available on an open access basis at Springer.
The blog for the Intertwingled Conference can be read here.https://digitalcommons.chapman.edu/scs_books/1023/thumbnail.jp
The growth companies puzzle: can growth opportunities measures predict firm growth?
While numerous empirical studies include proxies for growth opportunities in their analyses, there is limited evidence as to the validity of the various growth proxies used. Based on a sample of 1942 firm-years for listed UK companies over the 1990-2004 period, we assess the performance of eight growth opportunities measures. Our results show that while all the growth measures show some ability to predict growth in company sales, total assets, or equity, there are substantial differences between the various models. In particular, Tobin's Q performs poorly while dividend-based measures generally perform best. However, none of the measures has any success in predicting earnings per share growth, even when controlling for mean reversion and other time-series patterns in earnings. We term this the 'growth companies puzzle'. Growth companies do grow, but they do not grow in the key dimension (earnings) theory predicts. Whether the failure of 'growth companies' to deliver superior earnings growth is attributable to increased competition, poor investments, or behavioural biases, it is still a puzzle why growth companies on average fail to deliver superior earnings growth
Validating soil denitrification models based on laboratory N2 and N2O fluxes and underlying processes: evaluation of DailyDayCent and COUP models
Denitrification is an anaerobic key process by microbes where the NO3- is step-by-step reduced and emitted as NO, N2O and finally N2 gas from the soil. Accurate knowledge on denitrification dynamics is important because the N2O is further reduced to N2 and constitutes the main emission source of this greenhouse gas from agricultural soils. Hence, our understanding and ability to quantify soil denitrification is crucial for mitigating nitrogen fertilizer loss as well as for reducing N2O emissions. Models can be an important tool to predict mitigation effects and help to develop climate smart mitigation strategies.
Ideally, commonly used biogeochemical models could provide adequate predictions of denitrification processes of agricultural soils but often simplified process descriptions and inadequate model parameters prevent models from simulating adequate fluxes of N2 and N2O on field scale. Model development and parametrization often suffers from limited availability of empirical data describing denitrification processes in agricultural soils. While in many studies N2O emissions are used to develop and train models, detailed measurements on NO, N2O, N2 fluxes and concentrations and related soil conditions are necessary to develop and test adequate model algorithms.
To address this issue the coordinated research unit „Denitrification in Agricultural Soils: Integrated Control and Modelling at Various Scales (DASIM)” was initiated to more closely investigate N-fluxes caused by denitrification in response to environmental effects, soil properties and microbial communities.
Here, we present how we will use these data to evaluate common biogeochemical process models (DailyDayCent, Coup) with respect to modeled NO, N2O and N2 fluxes from denitrification. The models are used with different settings. The first approximation is the basic “factory” setting of the models. The next step would show the precision in the results of the modeling after adjusting the appropriate parameters from the result of the measurement values and the “factory” results. The better adjustment and the well-controlled input and output measured parameters could provide a better understanding of the probable scantiness of the tested models which will be a basis for future model improvement
Earnings Management: The Effect of Ex Ante Earnings Expectations
Yeshttps://us.sagepub.com/en-us/nam/manuscript-submission-guideline
Return Predictability: The Dual Signaling Hypothesis of Stock Splits
This paper aims to differentiate between optimistic splits and overoptimistic/opportunistic splits. Although markets do not distinguish between these two groups at the split announcement time, optimistic (over-optimistic/opportunistic) splits precede positive (negative) long-term buy-and-hold abnormal returns. Using the calendar month portfolio approach, we show that the zero-investment, ex-ante identifiable, and fully implementable trading strategy proposed in this paper can generate economically and statistically significant positive abnormal returns. Our findings indicate that pre-split earnings management and how it relates to managers’ incentives, is an omitted variable in the studies of post-split long-term abnormal returns
Where do firms manage earnings?
Despite decades of research on how, why, and when companies manage earnings, there is a paucity of evidence about the geographic location of earnings management within multinational firms. In this study, we examine where companies manage earnings using a sample of 2,067 U.S. multinational firms from 1994 to 2009. We predict and find that firms with extensive foreign operations in weak rule of law countries have more foreign earnings management than companies with subsidiaries in locations where the rule of law is strong. We also find some evidence that profitable firms with extensive tax haven subsidiaries manage earnings more than other firms and that the earnings management is concentrated in foreign income. Apart from these results, we find that most earnings management takes place in domestic income, not foreign income.Arthur Andersen (Firm) (Arthur Andersen Faculty Fund
Applying Benford’s law to detect accounting data manipulation in the banking industry
We utilise Benford’s Law to test if balance sheet and income statement data broadly used to assess bank soundness were manipulated prior to and also during the global financial crisis. We find that all banks resort to loan loss provisions to manipulate earnings and income upwards. Distressed institutions that have stronger incentives to conceal their financial difficulties resort additionally to manipulating loan loss allowances and non-performing loans downwards. Moreover, manipulation is magnified during the crisis and expands to encompass regulatory capital
Cross-sectional estimation of abnormal accruals using quarterly and annual data: effectiveness in detecting event-specific earnings management
Adaptations in the Temporalis Muscles of Rabbits after Masseter Muscle Removal
Masseter muscles were surgically removed in six young female rabbits so that we could study adaptations of the superficial temporalis muscles (ST) to increased functional requirements. Eight weeks following surgery, we used morphological measurements, histochemistry, contractile properties in situ, and occlusal force in vivo to compare the muscles in the experimental animals and six control rabbits. Analysis of the results demonstrated a decrease in fatigability of ST after masseter myectomy. Incisal occlusal force decreased by 65% during the first two weeks, and no recovery was observed during the following six weeks. At eight weeks post-surgery, the mass, twitch tensions, and tetanic tensions of ST were not significantly different from those of the controls. An increase in the percent of the cross-sectional area composed of fast fatigue-resistant fibers, a slower time-to-peak twitch tension, and a decrease in fatigability suggest an increase in oxidative metabolism. Analysis of these results suggests that muscles used for highly repetitious activities with submaximal loadings adapt to increased functional requirements by increasing fatigue-resistant properties.Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/68261/2/10.1177_00220345860650110201.pd
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