219 research outputs found

    Pengaruh financial distress terhadap manajemen laba pada perusahaan sub sektor telekomunikasi yang terdaftar di bei periode 2015-2019

    Get PDF
    Penelitian ini bertujuan untuk mengetahui pengaruh financial distress terhadap manajemen laba. Penelitian ini menggunakan analisis regresi linear sederhana dengan program SPSS V.26. Sampel yang digunakan adalah laporan keuangan perusahaan sub sektor telekomunikasi yang terdaftar di Bursa Efek Indonesia tahun 2015-2019 yang diambil berdasarkan kriteria tertentu dengan menggunakan metode purposive sampling berjumlah 4 perusahaan. Manajemen laba diukur dengan model jones modifikasi dan financial distress diukur dengan model altman z-score. Hasil pada penelitian ini menunjukkan adanya pengaruh positif financial distress terhadap manajemen laba

    Tracing the socio-spatial logics of transnational landlords’ real estate investment: Blackstone in Madrid

    Get PDF
    The rapid internationalisation of the Spanish property market has triggered debates about the main characteristics of emerging post-crisis urban dynamics. Financial and urban policy reforms have shaped a model depicted by incessant rent increases and displacements. Echoing these concerns, this article addresses two interconnected objectives about the way policy restructuring encouraged transnational investments into Spanish real estate and the concomitant socio-spatial effects this wider asset reshuffling has produced. Both queries are discussed by pinpointing the multi-scalar investment strategies of the private equity firm, Blackstone, which emerged as the predominant institutional investor during the recovery phase of the Spanish property market. The article initially sketches out the trajectory of the political economy of housing in Spain, and then it focuses on the strategies pursued by Blackstone for the acquisition of real estate and housing stock. The following sections connect the nodes of the financial chain that link this investor to former social housing tenants whose homes are by now owned by Blackstone. The spatial and social effects of this change in property ownership demonstrate the importance of in-depth research about the financial nodes that interplay with and shape the post-crisis urban condition in and beyond Southern Europe

    Expansion cone for the 3-inch PMTs of the KM3NeT optical modules

    Full text link
    [EN] Detection of high-energy neutrinos from distant astrophysical sources will open a new window on the Universe. The detection principle exploits the measurement of Cherenkov light emitted by charged particles resulting from neutrino interactions in the matter containing the telescope. A novel multi-PMT digital optical module (DOM) was developed to contain 31 3-inch photomultiplier tubes (PMTs). In order to maximize the detector sensitivity, each PMT will be surrounded by an expansion cone which collects photons that would otherwise miss the photocathode. Results for various angles of incidence with respect to the PMT surface indicate an increase in collection efficiency by 30% on average for angles up to 45 degrees with respect to the perpendicular. Ray-tracing calculations could reproduce the measurements, allowing to estimate an increase in the overall photocathode sensitivity, integrated over all angles of incidence, by 27% (for a single PMT). Prototype DOMs, being built by the KM3NeT consortium, will be equipped with these expansion cones.This work is supported through the EU, FP6 Contract no. 011937, FP7 grant agreement no. 212252, and the Dutch Ministry of Education, Culture and Science.Adrián Martínez, S.; Ageron, M.; Aguilar, JA.; Aharonian, F.; Aiello, S.; Albert, A.; Alexandri, M.... (2013). Expansion cone for the 3-inch PMTs of the KM3NeT optical modules. Journal of Instrumentation. 8(3):1-19. https://doi.org/10.1088/1748-0221/8/03/T03006S1198

    Regional climate hindcast simulations within EURO-CORDEX: evaluation of a WRF multi-physics ensemble

    Get PDF
    In the current work we present six hindcast WRF (Weather Research and Forecasting model) simulations for the EURO-CORDEX (European Coordinated Regional Climate Downscaling Experiment) domain with different configurations in microphysics, convection and radiation for the time period 1990?2008. All regional model simulations are forced by the ERA-Interim reanalysis and have the same spatial resolution (0.44°). These simulations are evaluated for surface temperature, precipitation, short- and longwave downward radiation at the surface and total cloud cover. The analysis of the WRF ensemble indicates systematic temperature and precipitation biases, which are linked to different physical mechanisms in the summer and winter seasons. Overestimation of total cloud cover and underestimation of downward shortwave radiation at the surface, mostly linked to the Grell?Devenyi convection and CAM (Community Atmosphere Model) radiation schemes, intensifies the negative bias in summer temperatures over northern Europe (max ?2.5 °C). Conversely, a strong positive bias in downward shortwave radiation in summer over central (40?60%) and southern Europe mitigates the systematic cold bias over these regions, signifying a typical case of error compensation. Maximum winter cold biases are over northeastern Europe (?2.8 °C); this location suggests that land?atmosphere rather than cloud?radiation interactions are to blame. Precipitation is overestimated in summer by all model configurations, especially the higher quantiles which are associated with summertime deep cumulus convection. The largest precipitation biases are produced by the Kain?Fritsch convection scheme over the Mediterranean. Precipitation biases in winter are lower than those for summer in all model configurations (15?30%). The results of this study indicate the importance of evaluating not only the basic climatic parameters of interest for climate change applications (temperature and precipitation), but also other components of the energy and water cycle, in order to identify the sources of systematic biases, possible compensatory or masking mechanisms and suggest pathways for model improvement.The contribution from Universidad de Cantabria was funded by the Spanish R&D programme through projects CORWES (CGL2010-22158-C02-01) and WRF4G (CGL2011-28864), co-funded by the European Regional Development Fund. M. García-Díez acknowledges financial support from the EXTREMBLES (CGL2010-21869) project

    Beyond peak emission transfers: historical impacts of globalization and future impacts of climate policies on international emission transfers

    Get PDF
    Globalization of supply chains has resulted in rapid increases in emission transfers from the developing to the developed world. As outsourcing has risen, developed countries have been able to decarbonize domestically, at the expense of increased emissions in developing countries. However, the rapid improvement of carbon efficiency in developing regions together with the post-2008 deceleration in international trade raises the question of whether such embodied emission transfers have peaked. Here we update historical analysis, finding that emission transfers between OECD and non-OECD countries peaked in 2006, and have been declining since. The reversal is principally due to the reduction in the emissions intensity of traded goods, rather than the volume of trade. A more recent decline in embodied emissions transfers is also observed in trade between developing countries. We analyse whether these trends are likely to continue, by exploring a baseline and a Nationally Determined Contribution (NDC) scenario with the Macro-ejconometric Energy-Environment-Economy Model (E3ME) model. The results suggest that absolute embodied emissions will plateau at current levels or slowly return to pre-2008- crisis levels, and differences between the NDC and baseline scenarios imply that NDC policies will not result in significant carbon leakage. However, the share of national footprint embodied in imports, at least for countries with ambitious decarbonization policies, will likely increase. This suggests that, despite the world-wide stabilization of emissions transfers, addressing emissions embodied in imports will become increasingly important for reducing carbon footprints. // Key policy insights: (1) Emissions embodied in imports have plateaued since 2006, and are unlikely to return to the peak of the mid-2000s. (2) For developed countries, as domestic decarbonization occurs, the share of emissions embodied in imports as a percentage of the total national carbon footprint will increase. (3) The Paris NDCs in themselves are unlikely to cause significant carbon leakage. (4) Climate policy will ideally focus on reducing both production and consumption emissions, through a variety of mechanisms, especially centred around international assistance

    Beyond peak emission transfers: historical impacts of globalization and future impacts of climate policies on international emission transfers

    Get PDF
    Globalization of supply chains has resulted in rapid increases in emission transfers from the developing to the developed world. As outsourcing has risen, developed countries have been able to decarbonize domestically, at the expense of increased emissions in developing countries. However, the rapid improvement of carbon efficiency in developing regions together with the post-2008 deceleration in international trade raises the question of whether such embodied emission transfers have peaked. Here we update historical analysis, finding that emission transfers between OECD and non-OECD countries peaked in 2006, and have been declining since. The reversal is principally due to the reduction in the emissions intensity of traded goods, rather than the volume of trade. A more recent decline in embodied emissions transfers is also observed in trade between developing countries. We analyse whether these trends are likely to continue, by exploring a baseline and a Nationally Determined Contribution (NDC) scenario with the Macro-econometric Energy-Environment-Economy Model (E3ME) model. The results suggest that absolute embodied emissions will plateau at current levels or slowly return to pre-2008- crisis levels, and differences between the NDC and baseline scenarios imply that NDC policies will not result in significant carbon leakage. However, the share of national footprint embodied in imports, at least for countries with ambitious decarbonization policies, will likely increase. This suggests that, despite the world-wide stabilization of emissions transfers, addressing emissions embodied in imports will become increasingly important for reducing carbon footprints.Industrial Ecolog

    Genomic diversity and differentiation of a managed island wild boar population

    Get PDF
    The evolution of island populations in natural systems is driven by local adaptation and genetic drift. However, evolutionary pathways may be altered by humans in several ways. The wild boar (WB) (Sus scrofa) is an iconic game species occurring in several islands, where it has been strongly managed since prehistoric times. We examined genomic diversity at 49 803 single-nucleotide polymorphisms in 99 Sardinian WBs and compared them with 196 wild specimens from mainland Europe and 105 domestic pigs (DP; 11 breeds). High levels of genetic variation were observed in Sardinia (80.9% of the total number of polymorphisms), which can be only in part associated to recent genetic introgression. Both Principal Component Analysis and Bayesian clustering approach revealed that the Sardinian WB population is highly differentiated from the other European populations (F ST =0.126-0.138), and from DP (F ST =0.169). Such evidences were mostly unaffected by an uneven sample size, although clustering results in reference populations changed when the number of individuals was standardized. Runs of homozygosity (ROHs) pattern and distribution in Sardinian WB are consistent with a past expansion following a bottleneck (small ROHs) and recent population substructuring (highly homozygous individuals). The observed effect of a non-random selection of Sardinian individuals on diversity, F ST and ROH estimates, stressed the importance of sampling design in the study of structured or introgressed populations. Our results support the heterogeneity and distinctiveness of the Sardinian population and prompt further investigations on its origins and conservation status.</p
    corecore