The Impact of Ownership Structure and External Audit on Accruals and Real Activities Earnings Management in Jordan

Agency theory predicts that ownership structure monitoring mechanisms can effectively align the interests of managers with those of the shareholders. In additions, it views external audit as a function that lends credibility to the information disclosed in financial reports. Prior research sustains these predictions in developed markets such as in the US. However, institutional settings such as ownership structure and regulatory oversight bodies differ around the world and accordingly, the sustainability of agency theory predictions might also differ. Further, little research differentiates between accruals and real activities earnings management in contexts such as the Jordanian where ownership is concentrated, investors’ protection is weak and capital market is still evolving. Therefore, this study addresses these issues and investigates the validity of agency theory predictions concerning the effectiveness of ownership structure and external audit monitoring mechanisms in mitigating both accruals and real activities earnings management in Jordan. In this study, four measures of earnings management are estimated through the models of Kothari et al. (2005) and Roychowdhury (2006). Magnitudes of abnormal accruals are obtained from the former model and magnitudes of abnormal cash flow from operating activities, abnormal production costs and abnormal discretionary expenses are obtained from the latter model. As a result, four empirical models are constructed in which the estimated earnings management measures represent the dependent variables. Independent variables in each empirical model are the same and are classified into three categories: first, ownership structure variables include ownership concentration, controlling shareholders, institutional ownership and foreign ownership. The second category includes external audit quality measured by auditor size. Third, a set of control variables include board size, leverage, growth and firm size. These models are tested using the population of all manufacturing firms listed on Amman Stock Exchange over the period 2005 – 2008. The results reveal that controlling shareholders appear effective in constraining accruals manipulations, sales manipulations and production costs manipulations. As for manipulations in discretionary expenses, the results show that only high levels of institutional ownership can effectively deter abnormal discretionary expenses. Moreover, contrary to the popular convention, the results suggest that non-big 5 auditors in Jordan who in fact mitigate abnormal accruals not big 5 auditors. Finally, no evidence is found supportive of the substitutive effect. That is, firms that are prevented from managing their earnings through accruals due to the enhanced scrutiny of non-big 5 auditors, do not resort to sales manipulations, production costs manipulations or discretionary expenses manipulations as substitutes to achieve desired levels of reported earnings. Given these findings, the present study provides understanding and extension for agency theory literature that focuses on earnings management in general and in emerging markets in particular. It highlights challenges to applicability of agency theory in emerging markets where corporate governance mechanisms are supposed to mitigate the practice of earnings management. As such, these findings could be helpful to investors and other stakeholders in making rational contractual decisions, especially when such decisions involve non-owner-controlled firms. Finally, Amman Stock Exchange could impose the corporate governance codes that actively promote internal corporate governance mechanisms to restrain accruals and real activities earnings management

Responses of Periwinkle (Catharanthus roseus) to soil and foliar applications of Haza (Haplophyllum tuberculatum).

This study aimed to investigate the responses of Periwinkle plants to soil and foliar applications of Haza plant in two separate tests under the conditions of the nursery at Shambat, Khartoum North, Sudan. The foliar treatments were for boiled water extracts of hand crushed Haza shoots in concentrations: 0.0, 5, 10, 15 and 20 g/l, while the soil dressing test was for powder of dry shoots of Haza applied in doses of: 0.0, 5, 10, 15 and 20 g per plant. The Periwinkle transplants were planted in 18 inch plastic pots containing River Nile sedimentary soil. The study was arranged in complete randomized design and each treatment was replicated 7 times. Data were collected 4 months after applications. The results showed substantial increments in vegetative and reproductive growth parameters coupled with high alkaloids content from soil dressing with 10 g/plant Haza treatment or the foliar application of the 10 g/l Haza extract. These findings elucidated the bio-stimulating potential of Haza applications for enhanced vegetative and reproductive growth beside alkaloids content of Periwinkle. This stimulating potential may be of value for trials on organic production of other horticultural crops

Modification of Institute for Agricultural Research Multi-Crop Thresher for Improved Performances

In millet producing areas of Nigeria, the predominant method of threshing is traditional. It involves beating the millet panicle with a stick, over a log of wood or by pounding using mortar and pestle. This method is inefficient, time-consuming, labor intensive, prone to drudgery, uneconomical, low output and gives product contaminate with extraneous material such as stones and sand. Though imported threshers are effective in millet threshing; they are expensive, complexed in design and required skillful personnel for operation. An Institute for Agricultural Research  (IAR) multi-crop thresher for sorghum, millet, and wheat was modified for improved performances. The performance of the modified thresher was evaluated using Ex-borno variety of pearl millet. Two levels of moisture content; 9.21% and 10.81%, four feed rates levels; 3, 4, 5 and 6 kg/min, four levels of drum speed; 700, 800, 900 and 1000 rpm were considered during the experiment. The test results indicated as high as 98.78% threshing efficiency, a minimum of 1.02% grain damage, maximum cleaning efficiency of 97.19%, and 2.50% scatter loss and maximum throughput capacity of 194.02 kg/hr. In comparison to the previous thresher, threshing efficiency, mechanical grain damage, cleaning efficiency, scatter losses, and throughput capacity have improved by 2.01%, 330.56%, 9.79%, 10.78%, and 69.86% respectively. The developed thresher is anticipated to increase the farmer’s productivity due to improved performances.Keywords: Millet, Threshing Efficiency, Cleaning Efficiency, Feed Rate, cylinder Spee

SARS-CoV-2 seroprevalence in pregnant women during the first three COVID-19 waves in The Gambia

OBJECTIVES: SARS-CoV-2 transmission in Sub-Saharan Africa has probably been underestimated. Population-based seroprevalence studies are needed to determine the extent of transmission in the continent. METHODS: Blood samples from a cohort of Gambian pregnant women were tested for SARS-CoV-2 total receptor binding domain (RBD) IgM/IgG before (Pre-pandemic: October-December 2019), and during the pandemic (Pre-wave1: February-June 2020; Post-wave1: October-December 2020, Post-wave2: May-June 2021; and Post-wave3: October-December 2021). Samples reactive for SARS-CoV-2 total RBD IgM/IgG were tested in specific S1- and nucleocapsid (NCP) IgG assays. RESULTS: SARS-CoV-2 total RBD IgM/IgG seroprevalence was 0.9% 95%CI (0.2, 4.9) in Pre-pandemic; 4.1% (1.4, 11.4) in Pre-wave1; 31.1% (25.2, 37.7) in Post-wave1; 62.5% (55.8, 68.8) in Post-wave2 and 90.0% (85.1, 93.5) in Post-wave3. S-protein IgG and NCP-protein IgG seroprevalence also increased at each Post-wave period. Although S-protein IgG and NCP-protein IgG seroprevalence was similar at Post-wave1, S-protein IgG seroprevalence was higher at Post-wave2 and Post-wave3, [prevalence difference (PD) 13.5 (0.1, 26.8) and prevalence ratio (PR) 1.5 (1.0, 2.3) in Post-wave2; and 22.9 (9.2, 36.6) and 1.4 (1.1, 1.8) in Post-wave3 respectively, p<0.001]. CONCLUSION: SARS-CoV-2 transmission in The Gambia during the first three COVID-19 waves was high, differing significantly from official numbers of COVID-19 cases reported. Our findings are important for policy makers in managing the near-endemic COVID-19

Interaction of Pyrrolobenzodiazepine (PBD) Ligands with Parallel Intermolecular G-Quadruplex Complex Using Spectroscopy and ESI-MS

Studies on ligand interaction with quadruplex DNA, and their role in stabilizing the complex at concentration prevailing under physiological condition, has attained high interest. Electrospray ionization mass spectrometry (ESI-MS) and spectroscopic studies in solution were used to evaluate the interaction of PBD and TMPyP4 ligands, stoichiometry and selectivity to G-quadruplex DNA. Two synthetic ligands from PBD family, namely pyrene-linked pyrrolo[2,1-c][1,4]benzodiazepine hybrid (PBD1), mixed imine-amide pyrrolobenzodiazepine dimer (PBD2) and 5,10,15,20-tetrakis(N-methyl-4-pyridyl)porphyrin (TMPyP4) were studied. G-rich single-stranded oligonucleotide d(5′GGGGTTGGGG3′) designated as d(T2G8), from the telomeric region of Tetrahymena Glaucoma, was considered for the interaction with ligands. ESI-MS and spectroscopic methods viz., circular dichroism (CD), UV-Visible, and fluorescence were employed to investigate the G-quadruplex structures formed by d(T2G8) sequence and its interaction with PBD and TMPyP4 ligands. From ESI-MS spectra, it is evident that the majority of quadruplexes exist as d(T2G8)2 and d(T2G8)4 forms possessing two to ten cations in the centre, thereby stabilizing the complex. CD band of PBD1 and PBD2 showed hypo and hyperchromicity, on interaction with quadruplex DNA, indicating unfolding and stabilization of quadruplex DNA complex, respectively. UV-Visible and fluorescence experiments suggest that PBD1 bind externally where as PBD2 intercalate moderately and bind externally to G-quadruplex DNA. Further, melting experiments using SYBR Green indicate that PBD1 unfolds and PBD2 stabilizes the G-quadruplex complex. ITC experiments using d(T2G8) quadruplex with PBD ligands reveal that PBD1 and PBD2 prefer external/loop binding and external/intercalative binding to quadruplex DNA, respectively. From experimental results it is clear that the interaction of PBD2 and TMPyP4 impart higher stability to the quadruplex complex

Concern with COVID-19 pandemic threat and attitudes towards immigrants: The mediating effect of the desire for tightness

Tightening social norms is thought to be adaptive for dealing with collective threat yet it may have negative consequences for increasing prejudice. The present research investigated the role of desire for cultural tightness, triggered by the COVID-19 pandemic, in increasing negative attitudes towards immigrants. We used participant-level data from 41 countries (N = 55,015) collected as part of the PsyCorona project, a crossnational longitudinal study on responses to COVID-19. Our predictions were tested through multilevel and SEM models, treating participants as nested within countries. Results showed that people’s concern with COVID19 threat was related to greater desire for tightness which, in turn, was linked to more negative attitudes towards immigrants. These findings were followed up with a longitudinal model (N = 2,349) which also showed that people’s heightened concern with COVID-19 in an earlier stage of the pandemic was associated with an increase in their desire for tightness and negative attitudes towards immigrants later in time. Our findings offer insight into the trade-offs that tightening social norms under collective threat has for human groups

Global overview of the management of acute cholecystitis during the COVID-19 pandemic (CHOLECOVID study)

Background: This study provides a global overview of the management of patients with acute cholecystitis during the initial phase of the COVID-19 pandemic. Methods: CHOLECOVID is an international, multicentre, observational comparative study of patients admitted to hospital with acute cholecystitis during the COVID-19 pandemic. Data on management were collected for a 2-month study interval coincident with the WHO declaration of the SARS-CoV-2 pandemic and compared with an equivalent pre-pandemic time interval. Mediation analysis examined the influence of SARS-COV-2 infection on 30-day mortality. Results: This study collected data on 9783 patients with acute cholecystitis admitted to 247 hospitals across the world. The pandemic was associated with reduced availability of surgical workforce and operating facilities globally, a significant shift to worse severity of disease, and increased use of conservative management. There was a reduction (both absolute and proportionate) in the number of patients undergoing cholecystectomy from 3095 patients (56.2 per cent) pre-pandemic to 1998 patients (46.2 per cent) during the pandemic but there was no difference in 30-day all-cause mortality after cholecystectomy comparing the pre-pandemic interval with the pandemic (13 patients (0.4 per cent) pre-pandemic to 13 patients (0.6 per cent) pandemic; P = 0.355). In mediation analysis, an admission with acute cholecystitis during the pandemic was associated with a non-significant increased risk of death (OR 1.29, 95 per cent c.i. 0.93 to 1.79, P = 0.121). Conclusion: CHOLECOVID provides a unique overview of the treatment of patients with cholecystitis across the globe during the first months of the SARS-CoV-2 pandemic. The study highlights the need for system resilience in retention of elective surgical activity. Cholecystectomy was associated with a low risk of mortality and deferral of treatment results in an increase in avoidable morbidity that represents the non-COVID cost of this pandemic

Search for new physics with dijet angular distributions in proton-proton collisions at root S = 13 TeV

Peer reviewe

Observation of Charge-Dependent Azimuthal Correlations in p-Pb Collisions and Its Implication for the Search for the Chiral Magnetic Effect

Peer reviewe

Search for anomalous Wtb couplings and flavour-changing neutral currents in t-channel single top quark production in pp collisions at root s=7 and 8 TeV

Peer reviewe