Essays in Corporate Responsibility and Finance

This dissertation consists of three chapters: Chapter 1: The Effects of Corporate Social Performance and Social Norms on Market Valuation of Nonfinancial Disclosures Using a novel measure of the quality of corporate social responsibility (CSR) disclosures by global companies, this paper analyzes how CSR report quality affects firm value when mediating roles of social pressure and CSR performance are considered. I find that firms operating in socially controversial industries enjoy higher valuations when they issue high-quality CSR reports. I also find that for firms with poor CSR performance, higher-quality CSR disclosure is associated with a decline in firm value, while this negative association is mitigated for firms with superior CSR performance. These results indicate that CSR disclosure quality is priced by the market over and above CSR performance and the act of CSR disclosure. Chapter 2: Firm Value, Legal Environment, and Corporate Social Responsibility Disclosure Regulations I study valuation implications of Corporate Social Responsibility (CSR) disclosure quality in countries with strong and weak legal systems. I find that CSR disclosure quality has a negative impact on firm value when CSR reporting is regulated and the legal system in place is strong. By contrast, CSR disclosure quality has a positive impact on firm value when CSR disclosure is regulated and the legal system is weak. I interpret these results as disclosure regulations partially making up for lack of adequate legal system strength to induce credible disclosures to benefit firm value. CSR disclosure regulations do not have as much a role to play in countries with strong legal systems, which already foster disclosure credibility. Instead, CSR disclosure regulations impair the discretion firms could exercise in choosing a judicious level of disclosure quality to improve firm value. Chapter 3: Does Corporate Responsibility Affect Firm Leverage? The Roles of Environmental Risk Management and Stakeholder Relations on Capital Structure This paper investigates the impact of a firm’s corporate social and environmental activities on its capital structure decisions. I find that firms with superior environmental corporate responsibility (CR) and poor social CR activities hold significantly higher leverage. However, a strong environmental commitment completely dominates the leverage impact of CR for firms that excel in both social and environmental CR. This result is also valid for firms with high cash flow volatility and taxable income, consistent with the risk reduction benefits associated with pursuing a proactive environmental program. Furthermore, environmental commitment mostly preserves its impact on leverage even when the incentives to maintain better stakeholder (social) relations are paramount relative to good environmental reputation, such as for firms producing unique products or those with high liquidation risk, as predicted by the stakeholder theory of capital structure. These results underscore the material impact of environmental management policies, alongside social relations, on corporate financing decisions, and thus extend the stakeholder theory of capital structure beyond its initial conceptualization to cover the role of a firm’s broader CR orientation on financial leverage

A study on the calculations of cross–sections for 66,67ga and 75se radionuclides production reactions via 3he particles

The intend of this paper is to study on different production routes of medical 66,67Ga and 75Se radionuclides used in cancer diagnostic. Both 66,67Ga and 75Se are the most well-known radionuclides used in diagnostics of malignant and benign tumors also brain studies and scintigraphy scanning. For this purpose, production cross–section calculations of medical 66,67Ga and 75Se radionuclides have been calculated for 64Zn(3He,p)66Ga, 65Cu(3He,2n)66Ga, 65Cu(3He,n)67Ga, 66Zn(3He,n+p)67Ga, 69Ga(3He,n+α)67Ga, 76Se(3He,α)75Se, 77Se(3He,n+α)75Se reactions. In the calculations, TALYS 1.8 and ALICE/ASH computer codes have been used. The models which have been employed within the calculations are Two Component Exciton and Equilibrium of TALYS 1.8 and Hybrid and Geometry Dependent Hybrid of ALICE/ASH. The results obtained from the calculations for each reaction have been compared with other calculation results and previously recorded experimental values collected from the Experimental Nuclear Reaction Data (EXFOR) library.No sponso

Current conduction in Schottky barrier diodes with poly(propylene glycol)-b-polystyrene block copolymer interfacial layer

Polymeric materials have gained great importance in electron devices. There has been considerable number of studies on block copolymers due to enhanced features that appear after co-polymerization. In this study, poly (propylene glycol)-b-polystyrene block copolymer has been synthesized and Schottky barrier diodes (SBDs) have been fabricated with this block copolymer. Current-voltage (I-V) measurements have been conducted at room temperature in order to investigate electrical characteristics and current conductions governing in these SBDs. Series resistance and shunt resistance of the SBDs have been calculated using Ohm’s law. Ideality factor, reverse saturation current and zero-bias barrier height of the SBDs have been extracted from the forward-bias I-V data. Fabricated SBDs exhibited high rectifying ratio of the order 104. Also, current conduction mechanisms and the density of interface states in the SBDs have been investigated. Calculated values of density of interface states in the SBDs are on the order of 1013 which is acceptable for this kind of SBDs having polymeric interfacial layer

True knot of the umbilical cord in advanced weeks of pregnancy: a case report

True knot of the umbilical cord is a very rare condition. Usually a true knot is noticed after delivery and does not lead to problems. It is relatively less common than the other umbilical cord anomalies. Most authors agree that there is little that can be done to prevent fetal death in undiagnosed true knot. In our case, the patient gave birth to a healthy male baby weighing 2700 grams by normal vaginal delivery after an ultrasound was suggestive of intrauterine growth restriction (IUGR). The baby’s Apgar scores were 8 at one minute and 9 at five minutes. The umbilical cord measured 125 cm and contained two loose true knots. It was surprising that the baby could survive until term with these two knots and we hypothesize that this was the cause of the IUGR. Our case was interesting as neither neurologic sequela nor intrauterine death developed, despite two true umbilical cord knots

True knot of the umbilical cord in advanced weeks of pregnancy: a case report

True knot of the umbilical cord is a very rare condition. Usually a true knot is noticed after delivery and does not lead to problems. It is relatively less common than the other umbilical cord anomalies. Most authors agree that there is little that can be done to prevent fetal death in undiagnosed true knot. In our case, the patient gave birth to a healthy male baby weighing 2700 grams by normal vaginal delivery after an ultrasound was suggestive of intrauterine growth restriction (IUGR). The baby’s Apgar scores were 8 at one minute and 9 at five minutes. The umbilical cord measured 125 cm and contained two loose true knots. It was surprising that the baby could survive until term with these two knots and we hypothesize that this was the cause of the IUGR. Our case was interesting as neither neurologic sequela nor intrauterine death developed, despite two true umbilical cord knots

Emphysematous pyelonephritis with left renal vein thrombosis-case report successfully treated by conservative methods

Presently emphysematous pyelonephritis is a rare but life-threatening disease, mostly seen in patients with urinary tract obstr uc- tion and diabetes mellitus. It is characterized by the production of gas and necrosis in the renal parenchyma, collecting systems, and perinephritic tissue. Radiologically, the Huang and Tseng classification is used to categorize the severity of the disease. Our case was 49 years old female pre- senting with unconsciousness, fever and bilateral Grade 3 lower extremity eodema one week after left percutaneous nephrolithotomy procedure because of urinary tract stone. Abdominal computerized tomography scan showed renal parenchymal and perinephritic tissue necrosis with the production of gas and renal vein thrombosis which was in accordance with Huang and Tseng classification Grade 3A. We treated our patient with the appropriate antibiotic, enoxaparin sodium, strict glycemic control, and supportive treatment without any surgical intervention or nephrectomy

CSR-Sustainability Monitor 2016 Edition

The report examines how large companies around the world communicate the impact of their non-financial activities through their CSR report (standalone or integrated)

FACTORS ASSOCIATED WITH SUICIDE ATTEMPTS IN PATIENTS WITH BIPOLAR DISORDER TYPE I

Background: The aim of this study is to identify the risk factors that are associated with suicide attempts in patients with bipolar disorder type I. Subjects and methods: This cross-sectional study was conducted with inpatients and outpatients with BD type I. Patients who met the study inclusion criteria (n=91) were evaluated in terms of sociodemographic variables, history of childhood trauma, comorbidity of adult attention deficit hyperactivity disorder and posttraumatic stress disorder, and the course of the disease. The patients were divided into two groups: those with a history of suicide attempts and those without a history of suicide attempts. The parameters of the study groups were compared with t and chi-square tests as appropriate. Logistic regression was used to identify the predictors of suicide attempt. Results: Logistic regression analysis of the study parameters suggested that the number of major depressive episodes (odds ratio: 7.18; 95% confidence interval: 1.84-28) and history of emotional neglect (odds ratio: 1.83; 95% confidence interval: 1.15- 2.90) were significant predictors of suicide attempt in patients with BD. Conclusion: In BD type I patients with a history of suicide attempts, the number of depressive episodes and emotional neglect, a subtype of childhood traumas, were the most remarkable risk factors. Considering the frequency of depressive episodes during the course of the disease and assessing traumas including those in childhood may help predict future suicide attempts in patients with BD