Board interlocks and earnings management contagion

We examine whether earnings management spreads from firm to firm via board connections of shared directors. A firm has a higher likelihood of restating earnings in a given year if it shares a director with another firm that restated earnings either in that same year or within the past two years. We also find evidence of earning management contagion at the earlier restating period when the accounting violated GAAP. In this case, a firm has a higher probability of later restating earnings reported in the current year if it shares a director with other firms that have to restate earnings for the current or past two years. Furthermore, we find that earnings management contagion is stronger when it’s the shared director has a more important relevant position. A board chairman, audit committee member or especially audit committee chairman who is also a director at another firm is associated with stronger contagion relative to other board positions of shared directors. This finding is consistent with the importance of the role of board monitoring to ensure high quality financial reporting. Board network contagion effects are not due to reverse causality, endogenous matching of firm characteristics or common industry shocks, but are weakened by endogenous matching of director characteristics. Board network contagion effects also subsume contagion from geographical proximity of firms, and are incremental to other sources of earnings management incentives, such as M&A and new issue activities. Overall, the evidence supports the idea that economic behaviors such as earnings manipulation spread through social networks.postprin

Preliminary investigations on an enzyme immobilized optical biosensor for arsenite detection

Arsenite is an inorganic form of arsenic that poses hazardous effect to human. It is a common environmental heavy metal contaminant ubiquitously found in water and groundwater. In this study, an optical biosensor for arsenite determination was developed by immobilization of crude arsenite oxidase (Aio) extracted from recombinant E. coli, in chitosan solution coated on triacetyl-cellulose membrane employing DCPIP as colour indicator. The arsenite oxidase (Aio) was successfully expressed and extracted from recombinant E. coli strain BL21 (DE3). The protein concentration and specific activity of the crude arsenite oxidase were determined. Expression of Aio was confirmed by SDS-PAGE. The crude Aio was also successfully immobilized in chitosan and coated on triacetyl cellulose membrane. The response time and dynamic range of the optical biosensor were optimized. The response time of the developed biosensor was 15 minutes. The amount of DCPIP reduced (ΔA) was inversely proportional to the arsenite concentration. Standard calibration curve for arsenite detection was achieved within the range of arsenite concentration from 25 μM to 200 μM. The maximum detection limit was determined to be 250 μM arsenite

Cognitive Style as a Factor in Accounting Students\u27 Performance on Multiple Choice Examinations

Using 59 final year accounting students as subjects and multiple regression analysis, this paper tests the hypothesis that accounting students\u27 performance on multiple choice examinations is related to field dependence cognitive style. Results support the hypothesis and suggest that in evaluating student performances in multiple choice examinations, accounting academics should bear in mind that the scores on these examinations may be partly a function of students\u27 cognitive style. This finding has implications for the use of multiple choice examinations in classroom evaluations

The M, E, and N structural proteins of the severe acute respiratory syndrome coronavirus are required for efficient assembly, trafficking, and release of virus-like particles

Copyright @ 2008 American Society for Microbiology.The production of virus-like particles (VLPs) constitutes a relevant and safe model to study molecular determinants of virion egress. The minimal requirement for the assembly of VLPs for the coronavirus responsible for severe acute respiratory syndrome in humans (SARS-CoV) is still controversial. Recent studies have shown that SARS-CoV VLP formation depends on either M and E proteins or M and N proteins. Here we show that both E and N proteins must be coexpressed with M protein for the efficient production and release of VLPs by transfected Vero E6 cells. This suggests that the mechanism of SARS-CoV assembly differs from that of other studied coronaviruses, which only require M and E proteins for VLP formation. When coexpressed, the native envelope trimeric S glycoprotein is incorporated onto VLPs. Interestingly, when a fluorescent protein tag is added to the C-terminal end of N or S protein, but not M protein, the chimeric viral proteins can be assembled within VLPs and allow visualization of VLP production and trafficking in living cells by state-of-the-art imaging technologies. Fluorescent VLPs will be used further to investigate the role of cellular machineries during SARS-CoV egress.The University of Hong Kong and the French Ministry of Health

Opinion diversity and community formation in adaptive networks

It is interesting and of significant importance to investigate how network structures co-evolve with opinions. The existing models of such co-evolution typically lead to the final states where network nodes either reach a global consensus or break into separated communities, each of which holding its own community consensus. Such results, however, can hardly explain the richness of real-life observations that opinions are always diversified with no global or even community consensus, and people seldom, if not never, totally cut off themselves from dissenters. In this article, we show that, a simple model integrating consensus formation, link rewiring and opinion change allows complex system dynamics to emerge, driving the system into a dynamic equilibrium with co-existence of diversified opinions. Specifically, similar opinion holders may form into communities yet with no strict community consensus; and rather than being separated into disconnected communities, different communities remain to be interconnected by non-trivial proportion of inter-community links. More importantly, we show that the complex dynamics may lead to different numbers of communities at steady state with a given tolerance between different opinion holders. We construct a framework for theoretically analyzing the co-evolution process. Theoretical analysis and extensive simulation results reveal some useful insights into the complex co-evolution process, including the formation of dynamic equilibrium, the phase transition between different steady states with different numbers of communities, and the dynamics between opinion distribution and network modularity, etc.Comment: 12 pages, 8 figures, Journa

Cardiovascular disease biomarkers are associated with declining renal function in type 2 diabetes

Aims/hypothesis: We investigated whether biochemical cardiovascular risk factors and/or markers of subclinical cardiovascular disease were associated with the development of reduced renal function in people with type 2 diabetes. Methods: A cohort of 1066 Scottish men and women aged 60–74 years with type 2 diabetes from the Edinburgh Type 2 Diabetes Study were followed up for a median of 6.7 years. New-onset reduced renal function was defined as two eGFRs <60 ml−1 min−1 (1.73 m)−2 at least 3 months apart with a > 25% decline from baseline eGFR. Ankle brachial pressure index (ABI), N-terminal pro-B-type natriuretic peptide (NT-proBNP) and high-sensitivity troponin T (hsTnT) were measured at baseline. Pulse wave velocity (PWV) and carotid intima media thickness were measured 1 year into follow-up. Data were analysed using Cox proportional hazards models. Results: A total of 119 participants developed reduced renal function during follow-up. ABI, PWV, NT-proBNP and hsTnT were all associated with onset of decline in renal function following adjustment for age and sex. These associations were attenuated after adjustment for additional diabetes renal disease risk factors (systolic BP, baseline eGFR, albumin:creatinine ratio and smoking pack-years), with the exception of hsTnT which remained independently associated (HR 1.51 [95% CI 1.22, 1.87]). Inclusion of hsTnT in a predictive model improved the continuous net reclassification index by 0.165 (0.008, 0.286). Conclusions/interpretation: Our findings demonstrate an association between hsTnT, a marker of subclinical cardiac ischaemia, and subsequent renal function decline. Further research is required to establish the predictive value of hsTnT and response to intervention

Social and gender analysis report: Barotse Floodplain, Western Province,Zambia

There is increasing awareness that integrating gender into development frameworks is critical for effective implementation of development strategies. In working to alleviate rural poverty, the CGIAR Research Program on Aquatic Agricultural Systems (AAS) recognizes that “business as usual” gender integration approaches will not deliver lasting and widespread improvements in agricultural productivity, poverty reduction and food security. In response, AAS operationalized a gender transformative approach. The approach is informed by conceptual frameworks that explicitly recognize the potent influence of social relations on creating and perpetuating gender inequalities. In this way, AAS aims to address the underlying causes of rural poverty and gender inequality in Zambia’s Barotse Floodplain, where people rely extensively on riverine and wetland ecosystems for food and livelihood security. A central question guiding the research program is “How do social norms and gendered power relations influence agricultural development outcomes?” The findings presented in this report provide insights that help answer this question. The report presents a review of literature relevant to livelihoods, ecosystem services, and gender and social relations in Zambia, with a specific focus on Western Province, where AAS is currently implemented. It also presents a synthesis of findings of a social and gender analysis conducted in 2013 in 10 focal communities situated in and around the Barotse Floodplain

Modeling the dynamic rupture propagation on heterogeneous faults with rate- and state-dependent friction

We investigate the effects of non-uniform distribution of constitutive parameters on the dynamic propagation of an earthquake rupture. We use a 2D finite difference numerical method and we assume that the dynamic rupture propagation is governed by a rate- and state-dependent constitutive law. We first discuss the results of several numerical experiments performed with different values of the constitutive parameters a (to account for the direct effect of friction), b (controlling the friction evolution) and L (the characteristic length-scale parameter) to simulate the dynamic rupture propagation on homogeneous faults. Spontaneous dynamic ruptures can be simulated on velocity weakening (a < b) fault patches: our results point out the dependence of the traction and slip velocity evolution on the adopted constitutive parameters. We therefore model the dynamic rupture propagation on heterogeneous faults. We use in this study the characterization of different frictional regimes proposed by Boatwright and Cocco (1996) based on different values of the constitutive parameters a, b and L. Our numerical simulations show that the heterogeneities of the L parameter affect the dynamic rupture propagation, control the peak slip velocity and weakly modify the dynamic stress drop and the rupture velocity. Moreover, a barrier can be simulated through a large contrast of L parameter. The heterogeneity of a and b parameters affects the dynamic rupture propagation in a more complex way. A velocity strengthening area (a > b) can arrest a dynamic rupture, but can be driven to an instability if suddenly loaded by the dynamic rupture front. Our simulations provide a picture of the complex interactions between fault patches having different frictional properties and illustrate how the traction and slip velocity evolutions are modified during the propagation on heterogeneous faults. These results involve interesting implications for slip duration and fracture energy

Mouthwash Effects on the Oral Microbiome: Are They Good, Bad, or Balanced?

This narrative review describes the oral microbiome, and its role in oral health and disease, before considering the impact of commonly used over-the-counter (OTC) mouthwashes on oral bacteria, viruses, bacteriophages, and fungi that make up these microbial communities in different niches of the mouth. Whilst certain mouthwashes have proven antimicrobial actions and clinical effectiveness supported by robust evidence, this review reports more recent metagenomics evidence, suggesting that mouthwashes such as chlorhexidine may cause "dysbiosis," whereby certain species of bacteria are killed, leaving others, sometimes unwanted, to predominate. There is little known about the effects of mouthwashes on fungi and viruses in the context of the oral microbiome (virome) in vivo, despite evidence that they "kill" certain viral pathogens ex vivo. Evidence for mouthwashes, much like antibiotics, is also emerging with regards to antimicrobial resistance, and this should further be considered in the context of their widespread use by clinicians and patients. Therefore, considering the potential of currently available OTC mouthwashes to alter the oral microbiome, this article finally proposes that the ideal mouthwash, whilst combatting oral disease, should "balance" antimicrobial communities, especially those associated with health. Which antimicrobial mouthwash best fits this ideal remains uncertain

Detection of viable bacteria in environmental water samples using DNase I and PCR method. International Journal of Environmental Studies

In this study, we tested the potential application of a previously developed method in detecting Escherichia coli in environmental water samples. To increase the sensitivity of the method, and the recovery of microbial cells, water samples were filtered before being subjected to DNase treatment and polymerase chain reaction amplification. Results showed that DNase I treatment and PCR reaction were not affected by inhibitors as the expected amplicon was successfully amplified in autoclaved environmental waters spiked with E. coli. Then, we applied this method to naturally contaminated environmental water samples. We firstly confirmed the presence of coliforms and E. coli in these water samples by plating in eosin methylene blue agar. Simultaneous PCR amplification targeting Lac Z and uidR gene of total coliforms and E. coli respectively demonstrated that this developed method is potentially applicable for routine microbial assessment of health risks related to viable microorganisms in environmental or drinking waters