Chapter 7 and Chapter 11 Bankruptcy Factors

In light of the Financial Accounting Standards Board’s August 2014 Accounting Standard Update on management Going Concern Statements, research using financial ratios to predict bankruptcy is more relevant than ever. Even though numerous research articles examine factors that predict bankruptcy, few make the distinction between the factors that affect Chapter 7 versus Chapter 11 bankruptcy. This work examines the factors that affect these two bankruptcy types (7 and 11) using the Securities and Exchange Commission data on 425 firms that filed for Chapter 7 or Chapter 11 bankruptcy. We tested our data using t-test, ordinary least squares (OLS), and logistic regression. Our results indicate that the asset turnover ratio and going concern statement are significant predictors of Chapter 7 versus Chapter 11 bankruptcy. We note the implications for auditors, corporate management, corporate creditors and investors, and the Financial Accounting Standards Board

Study of the impact of special interest groups on major tax reform: Agriculture and the 1913 income tax law

Farmers have benefited from unique tax treatment since the beginning of the income tax law. This paper explores agricultural influences on the passage of the income tax in 1913, using both qualitative and quantitative analysis. The results show that agricultural interests were influential in the development and passage of tax/tariff laws. The percentage of congressmen with agricultural ties explains the strong affection for agriculture. Discussion in congressional debates and in agricultural journals was passionate and patriotic in support of equity for farmers. The quantitative analysis reveals that the percentage farm population was a significant predictor of passage of the 16th Amendment by the states and of adoption of state income taxes in the 20th century

Correlating Degradation Models and Image Quality Metrics

OCR often performs poorly on degraded documents. One approach to improving performance is to determine a good filter to improve the appearance of the document image before sending it to the OCR engine. Quality metrics have been measured in document images to determine what type of filtering would most likely improve the OCR response for that document image. In this paper those same quality metrics are measured for several word images degraded by known parameters in a document degradation model. The correlation between the degradation model parameters and the quality metrics is measured. High correlations do appear in many places that were expected. They are also absent in some expected places and offer a comparison of quality metric definitions proposed by different authors

Could decision trees help improve Farm Service Agency lending decisions?

This study examines whether a statistically derived decision tree could serve as a means to improve U.S.A. Farm Service Agency lending decisions. The study is a substantial extension and reanalysis of an earlier work by Barney, Graves and Johnson, (1999). Results indicate that a decision tree could be a valuable tool for Farm Service Agency employees in their lending decisions. The decision tree provides as good or better predictive accuracy than neural networks and logistic regression models at reasonable cutoff levels of Type II to Type I costs of lending. The decision tree also meets the transparency criteria for Farm Service Agency purposes by providing logical, understandable rules for lending decisions

Business Value Is not only Dollars - Results from Case Study Research on Agile Software Projects

Business value is a key concept in agile software development. This paper presents results of a case study on how business value and its creation is perceived in the context of agile projects. Our overall conclusion is that the project participants almost never use an explicit and structured approach to guide the value creation throughout the project. Still, the application of agile methods in the studied cases leads to satisfied clients. An interesting result of the study represents the fact that the agile process of many projects differs significantly from what is described in the agile practitioners’ books as best practices. The key implication for research and practice is that we have an incentive to pursue the study of value creation in agile projects and to complement it by providing guidelines for better client’s involvement, as well as by developing structured methods that will enhance the value-creation in a project

On the feasibility of N2 fixation via a single-site FeI/FeIV cycle: Spectroscopic studies of FeI(N2)FeI, FeIV=N, and related species

The electronic properties of an unusually redox-rich iron system, [PhBPR 3]FeNx (where [PhBPR 3] is [PhB(CH2PR2)3]−), are explored by Mössbauer, EPR, magnetization, and density-functional methods to gain a detailed picture regarding their oxidation states and electronic structures. The complexes of primary interest in this article are the two terminal iron(IV) nitride species, [PhBPiPr 3]FeN (3a) and [PhBPCH2Cy 3]FeN (3b), and the formally diiron(I) bridged-Fe(μ-N2)Fe species, {[PhBPiPr 3]Fe}2(μ-N2) (4). Complex 4 is chemically related to 3a via a spontaneous nitride coupling reaction. The diamagnetic iron(IV) nitrides 3a and 3b exhibit unique electronic environments that are reflected in their unusual Mössbauer parameters, including quadrupole-splitting values of 6.01(1) mm/s and isomer shift values of −0.34(1) mm/s. The data for 4 suggest that this complex can be described by a weak ferromagnetic interaction (J/D < 1) between two iron(I) centers. For comparison, four other relevant complexes also are characterized: a diamagnetic iron(IV) trihydride [PhBPiPr 3]Fe(H)3(PMe3) (5), an S = 3/2 iron(I) phosphine adduct [PhBPiPr 3]FePMe3 (6), and the S = 2 iron(II) precursors to 3a, [PhBPiPr 3]FeCl and [PhBPiPr 3]Fe-2,3:5,6-dibenzo-7-aza bicyclo[2.2.1]hepta-2,5-diene (dbabh). The electronic properties of these respective complexes also have been explored by density-functional methods to help corroborate our spectral assignments and to probe their electronic structures further

Simulation and Flight Test Environments for the TASAR Traffic Aware Planner

The Traffic Aware Planner (TAP) software is a flight deck decision support tool that enhances the flight crews ability to make flight-optimizing route change requests while airborne. The software provides conflict-free, optimized trajectory suggestions during en route flight to produce time- and fuel-savings compared to the current trajectory. The TAP software requires evaluation in an operational environment with real pilot users to validate projected benefits. To this end, a set of developmental test environments have been developed to mature the software and mitigate technical risk prior to entering operational evaluation. The unique attributes of each test environment were leveraged to provide a range of purpose- and case-dependent TAP software tests. This paper describes the elements of a testing environment, discusses several environments of varying fidelity used to test the TAP software, and provides a review of two case studies highlighting the vital role testing played in the TAP software development process

Securing tropical forest carbon: the contribution of protected areas to REDD

Forest loss and degradation in the tropics contribute 6-17% of all greenhouse gas emissions. Protected areas cover 217.2 million ha (19.6%) of the world's humid tropical forests and contain c. 70.3 petagrams of carbon (Pg C) in biomass and soil to 1 m depth. Between 2000 and 2005, we estimate that 1.75 million ha of forest were lost from protected areas in humid tropical forests, causing the emission of 0.25-0.33 Pg C. Protected areas lost about half as much carbon as the same area of unprotected forest. We estimate that the reduction of these carbon emissions from ongoing deforestation in protected sites in humid tropical forests could be valued at USD 6,200-7,400 million depending on the land use after clearance. This is >1.5 times the estimated spending on protected area management in these regions. Improving management of protected areas to retain forest cover better may be an important, although certainly not sufficient, component of an overall strategy for reducing emissions from deforestation and forest degradation (REDD

Liquid atmospheric pressure matrix-assisted laser desorption/ionization mass spectrometry adds enhanced functionalities to MALDI MS profiling for disease diagnostics

A liquid matrix-assisted laser desorption/ionization (liquid MALDI) method has been developed for high-throughput atmospheric pressure (AP) mass spectrometry (MS) analysis of the molecular content of crude bioliquids for disease diagnostics. The presented method is rapid and highly robust, enabling its application in environments where speed and low-cost high-throughput analyses are required. Importantly, because of the creation of multiply charged analyte ions, it provides additional functionalities that conventional solid MALDI MS profiling is lacking, including the use of high-performance mass analyzers with limited m/z range. The concomitant superior MS/MS performance that is achieved similar to ESI MS/MS adds greater analytical power and specificity to MALDI MS profiling while retaining the advantages of a fast laser-based analysis system and off-line large-scale sample preparation. The potential of this MALDI MS profiling method is demonstrated on the detection of dairy cow mastitis, which is a substantial economic burden on the dairy industry with losses of hundreds of dollars per diseased cow per year, equating to a total annual loss of billions of dollars, as well as leading to the use of large quantities of antibiotics, adding to the proliferation of antimicrobial resistance. Only small amounts of aliquots obtained from the daily farm milking process were prepared for liquid MALDI MS profiling using a simple one-pot/two-step analyte extraction. Automated analysis was performed using a custom-built AP-MALDI ion source, enabling the simultaneous detection of lipids, peptides, and proteins. Diagnostic, multiply charged, proteinaceous ions were easily sequenced and identified by MS/MS experiments. Samples were classified according to mastitis status using multivariate analysis, achieving 98.5% accuracy (100% specificity) determined by “leave 20% out” cross-validation. The methodology is generally applicable to AP-MALDI MS profiling on most commercial high-resolution mass spectrometers, with the potential for expansion into hospitals for rapid assessment of human and other biofluids