Simultaneous Determination Of Stock Price Synchronicity And Dividend Payout Ratios: Evidence From The MENA Region

This paper examines the determinants of cross-sectional differences in stock price synchronicity and dividend payout ratio in the MENA region during the period between 2003 and 2013. These variables are related not only directly, but also indirectly, through their relationship with information environment of firms. To distinguish these effects, we examine the determinants of both variables within a system of equations. Our results indicate that both of these variables affect each other negatively. We argue that higher information asymmetries associated with firms exhibiting high synchronicity leads to lower payout ratios, while lower information asymmetries that accompany firms paying high dividends lead to lower synchronicity

A theory of the corporate decision to resist FASB standards: An organization theory perspective

Purpose - To discuss the factors which make companies resist US accounting standards proposed by the FASB (Financial Accounting Standards Board). Design/methodology/approach - Explains the FASB's standard setting process and reviews previous relevant research to develop 12 research propositions on the variables relating to the standards, the corporations and their industries which stimulate companies to resist FASB standards. Suggests how these might be tested. Findings - Believes corporations are more likely to resist standards which increase uncertainty, have high information processing demands, require deviation from accepted practice and/or threaten the company's ability to acquire resources. Resistance is more likely from companies dependent on external stakeholders who oppose a standard, those with power over stakeholders which the FASB depends on, large companies and those with a history of opposition. Companies which are in concentrated industries, likely to suffer a negative impact on performance criteria valued by stakeholders, less regulated and/or rapidly growing are also more likely to resist standards seen as detrimental. Research limitations/implications - Calls for empirical research to test this theoretical framework and offers guidelines for conducting it. Practical implications - Identifies situations in which regulators might meet resistance and suggests some ways to reduce it. Originality/value - Puts forward a wide range of variables which can affect corporate resistance to FASB standards

Evaluating the Utility of Plain Radiograph and Computerised Tomography Scanning in Identifying Concomitant Foot Fractures in Patients with Unstable Lisfranc Injuries

Category: Midfoot/Forefoot; Trauma Introduction/Purpose: Lisfranc fracture dislocations are uncommon injuries, which frequently require surgical intervention. Currently, there is varying evidence on the diagnostic utility of plain radiographs (XR) and CT in identifying Lisfranc injuries and concomitant fractures. Our aim was to identify the utility of XR as compared to CT, with the nul hypothesis that there was no difference in fracture identification. Methods: A retrospective assessment of patients who had sustained a Lisfranc injury between 2013 and 2022 across two trauma centres within the United Kingdom who underwent surgery. Pre-operative XR and CT images were reviewed independently by 2 reviewers to identify the presence of associated fractures. Results: A total of 175 patients were included. Our assessment identified that XR images significantly under-diagnosed all metatarsal and midfoot fractures. The largest discrepancies between XR and CT in their rates of detection were in fractures of the cuboid (5.7% vs 28%, p< 0.001), medial cuneiform (20% vs 51%, p=0.008), lateral cuneiform (4% vs 36%, p=0.113), second metatarsal (57% vs 82%, p< 0.001), third metatarsal (37% vs 61%, p< 0.001) and fourth metatarsal (26% vs 43%, p< 0.001). As compared to CT, the sensitivity of XR was low. The lowest sensitivity for identification however was lateral foot injuries, specifically fractures of the lateral cuneiform (sensitivity 7.94%, specificity 97.3%), cuboid (sensitivity 18.37%, specificity 99.21%), fourth (sensitivity 46.7%, specificity 89.80%) and fifth metatarsal (sensitivity 45.00%, specificity 96.10%). Conclusion: From our analysis, we can determine that XR significantly under-diagnoses associated injuries in patient sustaining an unstable Lisfranc injury, with lateral foot injuries being the worst identified. We advised the use of CT imaging in all cases for appropriate surgical planning

Artificial Intelligence and Reliability of Accounting Information

International audienceProducing relevant and reliable accounting information is the main responsibility of accounting profession. Reliability and relevance of accounting information heavily depend on a sound internal control system as well as management and employees ethical and integrity characteristics. This paper shows how Artificial Intelligence innovatively works with the internal controls systems to help managers to produce high-quality accounting information by reducing information risk. Despite many types of research proposed using Artificial Intelligence in accounting and auditing, but none of them directly showed how to reduce information risk using Artificial Intelligence. The research benefits companies cut many costs and losses of failing to produce reliable accounting information, help managers to make a better decision and in overall improve entities performances. This paper proposes a general model to be applied by all type of business entities how practically use Artificial Intelligence to automate removing the weakness of internal control systems. This, in turn, reduces control risk, detection risk and increase audit quality by reducing accounting information risk