Explaining Accounting Policy Practices Under IFRS: The Role of Institutional Factors

Available at SSRN: https://ssrn.com/abstract=2869902 or http://dx.doi.org/10.2139/ssrn.2869902We argue and document that persistent institutional factors determine managerial accounting policy practice under IFRS. In an analysis of accounting choice across thirteen European countries, we study both overt and covert choices, aggregating them to measure their impact over income, thereby focusing on firm overall accounting strategy and not only on individual choices. Our results indicate that institutional factors significantly explain the observed heterogeneity in accounting policy practices and that firm characteristics have a smaller role in explaining them. Capital market structure and tax-alignment are particularly important factor in driving accounting practice. Contrary to the recent emphasis on enforcement as a key institutional factor, our evidence indicates it is a second order factor, when controlling for other institutional factors. Keywords: Accounting policy practices, International differences, IFRS, institutional factors, managerial reporting incentives JEL Classification: M41, M44, M4

Long-term management practices successfully reduce bird-related electrical faults in a transmission grid increasingly used by white storks for nesting

Bird nests on transmission lines can cause electrical faults which reduce service reliability. To address this problem, since the mid-90s, the Portuguese Transmission System Operator (TSO) has undertaken management actions to discourage white storks Ciconia ciconia from nesting in hazardous locations of the pylons. Here, we compiled and analyzed an 18-year series of data on electrical faults, TSO management actions to tackle these, and stork nests on transmission pylons in Portugal to: (a) determine the relative importance of bird-related faults over the total number of faults; (b) describe variations in bird-related faults across time (season of the year and time of the day); (c) describe spatial variations in bird-related faults and their association with the occurrence of white stork nests on pylons; and (d) analyze the trends, over the years, of the number of white stork nests on pylons, the TSO management actions and their effectiveness in reducing bird-related fault rates. Overall, birds accounted, on average, for 25.3% of the electrical faults in the transmission network, with the vast majority being attributed to white storks. The seasonal pattern of bird-related faults showed higher rates in April and in October–November. Faults occurred more often during the night period, when storks spend more time on the pylons. We found a positive spatial relationship between the electrical fault rate and the proportion of pylons with stork nests (and the correlated number of nests per 100 km of line). There was, however, considerable variation in the fault rates not explained by the stork nest variables, particularly during the non-breeding season. The TSO management actions (namely removal/translocation of nests in hazardous locations of the pylons, installation of anti-perching devices and provision of alternative nesting platforms) significantly reduced, as a whole, the annual number of bird-related faults between 2001 and 2018, despite the three-fold increase in the number of white stork nests on transmission pylons. A deeper understanding of how white storks use the transmission pylons outside the breeding season is needed, so that targeted management actions can be taken to reduce the remaining bird-related fault rates to residual levels.info:eu-repo/semantics/publishedVersio

Human-robot collaboration (HRC) with vision inspection for PCB assembly

Flexibility and speed in the development of new industrial machines are essential factors for the success of capital goods industries. When assembling a printed circuit board (PCB), since all the components are surface-mounted devices (SMD), the whole process is automatic. However, in many PCBs, it is necessary to place components that are not SMDs, called pin through-hole components (PTH), having to be inserted manually, which leads to delays in the production line. This work proposes and validates a prototype work cell based on a collaborative robot and vision systems whose objective is to insert these components in a completely autonomous or semi-autonomous way. Different tests were made to validate this work cell, showing the correct implementation and the possibility of replacing the human worker on this PCB assembly task.ERDF - European Regional Development Fund(45070

Shade and Altitude Implications on the Physical and Chemical Attributes of Green Coffee Beans from Gorongosa Mountain, Mozambique

Coffea arabica L. is as a tropical crop that can be grown under monocrop or agroforestry (AFS) systems, usually at altitudes greater than 600 m, with suitable environmental conditions to bean quality. This study aimed to assess the effect of altitude (650, 825, and 935 m) and light conditions (deep shade—DS, and moderate shade—MS provided by native trees, and full Sun—FS) on the physical and chemical attributes of green coffee beans produced in the Gorongosa Mountain. Regardless of altitude, light conditions (mainly MS and FS) scarcely affected most of the studied physical and chemical attributes. Among the few exceptions in physical attributes, bean mass tended to lower values under FS in all three altitudes, whereas bean density increased under FS at 650 m. As regards the chemical compound contents, sporadic changes were found. The rises in trigonelline (MS and FS at 935 m), soluble sugars (FS at 935 m), and the decline in p-coumaric acid (MS and FS at 825 m), may indicate an improved sensory profile, but the rise in FQAs (FS at 825 m) could have a negative impact. These results highlight a relevant uncertainty of the quality changes of the obtained bean. Altitude (from 650 to 935 m) extended the fruit maturation period by four weeks, and altered a larger number of bean attributes. Among physical traits, the average sieve (consistent tendency), bean commercial homogeneity, mass, and density increased at 935 m, whereas the bean became less yellowish and brighter at 825 and 935 m (b*, C* colour attributes), pointing to good bean trade quality, usually as compared with beans from 650 m. Furthermore, at 935 m trigonelline and 5-CQA (MS and FS) increased, whereas FQAs and diCQAs isomers declined (in all light conditions). Altogether, these changes likely contributed to improve the sensory cup quality. Caffeine and p-coumaric acid showed mostly inconsistent variations. Overall, light conditions (FS, MS, or DS) did not greatly and consistently altered bean physical and chemical attributes, whereas altitude (likely associated with lower temperature, greater water availability (rainfall/fog), and extended maturation period) was a major driver for bean changes and improved qualityinfo:eu-repo/semantics/publishedVersio