Do credit ratings influence the demand/supply of audit effort?

© 2020, Emerald Publishing Limited. Purpose: Firm management has an incentive to improve credit ratings to enjoy the reputational and financial benefits associated with higher credit ratings. In this study, the authors question whether audit effort in hours can be considered incrementally increasing with credit ratings. Based on legitimacy theory, the authors conjecture that firms with higher credit ratings will demand higher levels of audit effort to signal audit and financial quality compared to firms with higher levels of credit risk. Design/methodology/approach: The authors conduct empirical tests using a sample of Korean-listed firms using a sample period covering 2001–2015. Findings: The results show that firms with higher credit ratings demand higher audit effort in hours compared to client firms with lower credit ratings. The authors interpret that firms with higher ratings (lower risk) demand higher levels of audit effort in hours to reduce information asymmetry and to demonstrate that financial reporting systems are robust based on audit effort signaling audit quality. The authors also interpret that firms with lower credit ratings do not have incentives to signal similar audit quality. The authors also capture the “Big4 auditor expertise” effect by demonstrating that client firms audited by nonBig4 auditors demand additional audit effort with increasing credit rating compared to Big4 clients. Research limitations/implications: Audit effort is considered a signal of firm risk in the literature. This study’s results show evidence that audit effort is inversely related to firm risk. Practical implications: The results show that audit hour information is informative and likely managed by firm stakeholders. Internationally, it is not possible to capture the audit demand of clients because listing audit hours on financial statements is not a rule. Given that audit hours can be considered informative, the authors believe that legislators could consider implementing a policy to mandate that audit hours be recorded on international annual reports to enhance transparency. Originality/value: South Korea is one of few countries to list audit effort on annual reports. Therefore, the link between audit effort and credit ratings is unique in South Korea because it is one of few countries in which market participants likely monitor audit effort

Role of ABCB1 C3435T variant in response to antiepileptic drugs in epilepsy: a review

Over-expression of P-glycoprotein (P-gp), the encoded product of the ATP-binding cassette (ABC), sub-family B, member 1 (ABCB1/MDR1) gene, plays an important role in mediating multidrug resistance to antiepileptic drugs (AEDs) in about 30 of patients with epilepsy. Genetic variation may in part explain inter-individual differences in phenotype-genotype relationships in the pharmacological response of epilepsy patients to AEDs. The synonymous C3435T polymorphism is one of the most common allelic variants in the ABCB1/MDR1 gene, proposed in the causation of refractory epilepsy. Many studies have shown the relationship between C3435T polymorphism and refractoriness to AEDs in epilepsy. However, there is controversy between the findings of various studies, that is, whether ABCB1/MDR1 C3435T gene polymorphism is associated with response to AEDs in epilepsy patients. This review provides a background and discusses the results of investigations on possible confounding factors affecting the interpretation and implementation of association studies in this area

Cognitive Ability and Cardiovascular Control in Intellectually and Developmentally Disabled People

Earlier, we examined positive effects of hyperoxic air on the cognitive ability of intellectually and developmentally disabled people (IDDP). In this study, correlation between cognitive performance in the visual matching task and heart rate (HR) was investigated under normal air conditions. Eighteen men (mean age 28.7 ± 5.0 year) and 22 women (mean age 35.5 ± 6.9 year) with an assessed disability level of 2.3 ± 0.6 participated. The experiment consisted of three phases, a total of 7 min, including the rest (3 min), control (2 min), and visual matching task 2 min phases. The HR in visual matching task phase increased, compared to those in the rest and control phases. The cognitive ability in the visual matching task correlated with the HR values; the response time showed a negative correlation with HR, while the accuracy rate showed a positive correlation. Thus, adaptive changes in cardiovascular regulation probably related to cognitive efforts and emotional excitation should be considered a noticeable factor influencing brain supply with oxygen in IDDP (similarly to healthy people). The result of this study agrees with the earlier obtained indications that hyperoxic air can positively affect the cognitive performance in IDDP.Раніше ми вивчали позитивні впливи повітря, збагаченого киснем, на когнітивні здатності людей з недостатнім інтелектуальним розвитком (НІР). У нашій роботі ми досліджували кореляцію між показниками когнітивної активності в тесті візуальної відповідності та частотою серцевих скорочень (ЧСС) у таких суб’єктів в умовах дихання нормальним повітрям. У тестах брали участь 18 чоловіків (середній вік 28.7 ± 5.0 року) та 22 жінки (35.5 ± 6.9 року) з оцінкою рівня інтелектуального розвитку 2.3 ± 0.6. Експеримент (загальна тривалість 7 хв) складався з трьох фаз: стан розслаблення (3 хв), контроль (2 хв) та тест візуальної відповідності (2 хв). Величини ЧСС у межах цього тесту порівняно з величинами в умовах розслаблення й контролю зростали. Показники когнітивних здібностей корелювали з величинами ЧСС; кореляція часу відповіді була негативною, а точності відповіді – позитивною. Отже, адаптивні зміни регуляції серцево-судинної системи, мабуть, пов’язані з когнітивними зусиллями та емоційним збудженням, є істотним фактором, який впливає на постачання мозку киснем у людей із НІР (як і у здорових людей). Результати нашої роботи узгоджуються з отриманими раніше свідоцтвами про те, що дихання повітрям, збагаченим киснем, позитивно впливає на когнітивні можливості людей із НІР

Coherent control of electron spin qubits in silicon using a global field

Silicon spin qubits promise to leverage the extraordinary progress in silicon nanoelectronic device fabrication over the past half century to deliver large-scale quantum processors. Despite the scalability advantage of using silicon technology, realising a quantum computer with the millions of qubits required to run some of the most demanding quantum algorithms poses several outstanding challenges, including how to control many qubits simultaneously. Recently, compact 3D microwave dielectric resonators were proposed as a way to deliver the magnetic fields for spin qubit control across an entire quantum chip using only a single microwave source. Although spin resonance of individual electrons in the globally applied microwave field was demonstrated, the spins were controlled incoherently. Here we report coherent Rabi oscillations of single electron spin qubits in a planar SiMOS quantum dot device using a global magnetic field generated off-chip. The observation of coherent qubit control driven by a dielectric resonator establishes a credible pathway to achieving large-scale control in a spin-based quantum computer

Transcriptomic analyses reveal differential gene expression of immune and cell death pathways in the brains of mice infected with West Nile virus and chikungunya virus

West Nile virus (WNV) and chikungunya virus (CHIKV) are arboviruses that are constantly (re-)emerging and expanding their territory. Both viruses often cause a mild form of disease, but severe forms of the disease can consist of neurological symptoms, most often observed in the elderly and young children, respectively, for which the mechanisms are poorly understood. To further elucidate the mechanisms responsible for end-stage WNV and CHIKV neuroinvasive disease, we used transcriptomics to compare the induction of effector pathways in the brain during the early and late stage of disease in young mice. In addition to the more commonly described cell death pathways such as apoptosis and autophagy, we also found evidence for the differential expression of pyroptosis and necroptosis cell death markers during both WNV and CHIKV neuroinvasive disease. In contrast, no evidence of cell dysfunction was observed, indicating that cell death may be the most important mechanism of disease. Interestingly, there was overlap when comparing immune markers involved in neuroinvasive disease to those seen in neurodegenerative diseases. Nonetheless, further validation studies are needed to determine the activation and involvement of these effector pathways at the end stage of disease. Furthermore, evidence for a strong inflammatory response was found in mice infected with WNV and CHIKV. The transcriptomics profile measured in mice with WNV and CHIKV neuroinvasive disease in our study showed strong overlap with the mRNA profile described in the literature for other viral neuroinvasive diseases. More studies are warranted to decipher the role of cell inflammation and cell death in viral neuroinvasive disease and whether common mechanisms are active in both neurodegenerative and brain infectious diseases

B_c meson rare decays in the light-cone quark model

We investigate the rare decays $B_c \rightarrow D_s(1968) \ell \bar{\ell}$ and $B_c\rightarrow D_s^*(2317) \ell \bar{\ell}$ in the framework of the light-cone quark model (LCQM). The transition form factors are calculated in the space-like region and then analytically continued to the time-like region via exponential parametrization. The branching ratios and longitudinal lepton polarization asymmetries (LPAs) for the two decays are given and compared with each other. The results are helpful to investigating the structure of $B_c$ meson and to testing the unitarity of CKM quark mixing matrix. All these results can be tested in the future experiments at the LHC.Comment: 9 pages, 11 figures, version accepted for publication in EPJ

Association between pregnancy intention and psychological distress among women exposed to different levels of restrictions during the COVID-19 pandemic in Australia.

Background The COVID-19 pandemic has had a negative impact on the mental health of people globally. Significant concerns about health and access to services among women of reproductive age considering pregnancy may cause psychological distress, and in turn increase health risks during and after pregnancy for mothers and offspring. Objectives To examine the association between pregnancy intention and psychological distress during the COVID-19 pandemic in Australia, and explore if this association differed based on local viral transmission rates and corresponding levels of pandemic restrictions. Methods A nationwide online survey was completed by 849 non-pregnant women aged 18–50 years between 15 October and 7 November 2020. Women were asked about their intention to become pregnant, and psychological distress was assessed using the Kessler Psychological Distress Scale (K10). Multivariable regression analysis examined associations between pregnancy intention and psychological distress. An interaction term was added to the model to examine differences in associations by level of viral transmission rates and lockdown restrictions which was determined based on postcode. Results Pregnancy intention was not associated with experiencing (very) high psychological distress in the overall study population (odds ratio (OR) 1.42, 95% CI 0.94, 2.11). The interaction term (p = 0.09) suggested potential differences by level of restrictions and viral transmission rates. In stratified analysis among women living in a location with strict lockdown restrictions and high viral transmission rates leading up to and during the study, those planning to become pregnant were more likely to experience (very) high psychological distress (OR 3.39, 2.04, 5.65) compared with women not planning to become pregnant. Pregnancy intention was not associated with psychological distress among women exposed to lower levels of pandemic restrictions and viral transmission rates (OR 1.17, 0.74, 1.85). Conclusions Our findings highlight the need to identify and support women planning pregnancy during a public health crisis to mitigate potential short- and long-term intergenerational negative health outcomes associated with psychological distress.Danielle A. J. M. Schoenaker, Christie Bennett, Jessica A. Grieger, Cheryce L. Harrison, Briony Hill, Joanne Enticott, Lisa J. Moran, Helena J. Teede, Sharleen L. O, Reilly, Siew Li

Effect of Grain Boundary Character Distribution on the Impact Toughness of 410NiMo Weld Metal

Grain boundary character distributions in 410NiMo weld metal were studied in the as-welded, first-stage, and second-stage postweld heat treatment (PWHT) conditions, and these were correlated with the Charpy-V impact toughness values of the material. The high impact toughness values in the weld metal in the as-welded and first-stage PWHT conditions compared to that in the second-stage condition are attributed to the higher fraction of low-energy I pound boundaries. A higher volume fraction of retained austenite and coarser martensite after second-stage PWHT accompanied by the formation of the ideal cube component in the 2-hour heat-treated specimen led to a reduction in the toughness value. A subsequent increase in the PWHT duration at 873 K (600 A degrees C) enhanced the formation of {111}aOE (c) 112 >, which impedes the adverse effect of the cubic component, resulting in an increase in the impact toughness. In addition to this, grain refinement during 4-hour PWHT in the second stage also increased the toughness of the weld metal

Effect of Purity and Substrate on Field Emission Properties of Multi-walled Carbon Nanotubes

Multi-walled carbon nanotubes (MWNT) have been synthesized by chemical vapour decomposition (CVD) of acetylene over Rare Earth (RE) based AB2(DyNi2) alloy hydride catalyst. The as-grown carbon nanotubes were purified by acid and heat treatments and characterized using powder X-ray diffraction, Scanning Electron Microscopy, Transmission Electron Microscopy, Thermo Gravimetric Analysis and Raman Spectroscopy. Fully carbon based field emitters have been fabricated by spin coating a solutions of both as-grown and purified MWNT and dichloro ethane (DCE) over carbon paper with and without graphitized layer. The use of graphitized carbon paper as substrate opens several new possibilities for carbon nanotube (CNT) field emitters, as the presence of the graphitic layer provides strong adhesion between the nanotubes and carbon paper and reduces contact resistance. The field emission characteristics have been studied using an indigenously fabricated set up and the results are discussed. CNT field emitter prepared by spin coating of the purified MWNT–DCE solution over graphitized carbon paper shows excellent emission properties with a fairly stable emission current over a period of 4 h. Analysis of the field emission characteristics based on the Fowler–Nordheim (FN) theory reveals current saturation effects at high applied fields for all the samples