Relatórios de sustentabilidade e sua auditoria: efeito na liquidez do mercado

This study analyses whether the presentation of sustainability reports, their audits, and the use of International Standards on Auditing (ISAE3000-AA1000), have an effect on the Chilean market liquidity. A comparative analysis is carried out before and after the publication of the Chilean Regulation N.o 385, which recommends reporting sustainable development. By using panel data, and by estimation of econometric models, the results show that the presentation of sustainability reports has a positive effect on liquidity of companies. The effect is increased after the normative was published. Contrary to the expectations, the audit of these reports does not have the expected effect. However, the use of the international standard AA1000 positively affects the liquidity of those companies that voluntarily decide to use it.Esta investigación analiza si la presentación de los reportes de sustentabilidad, su auditoría y el uso de estándares internacionales de auditoría (ISAE3000-AA1000) tienen un efecto en la liquidez del mercado chileno. Se realiza un análisis comparativo previo y posterior a la publicación de la Norma de Carácter General N.º 385, la cual recomienda informar el desarrollo sustentable. Mediante la utilización de datos de panel, y a través de la estimación de modelos econométricos, los resultados muestran que la presentación de los reportes de sustentabilidad tiene un efecto positivo en la liquidez de las compañías. El efecto se ve incrementado posterior a la publicación de la normativa. Contrario a las expectativas, la auditoría de estos reportes no tiene el efecto esperado. Sin embargo, el uso del estándar internacional AA1000 afecta positivamente a aquellas empresas que voluntariamente lo utilizan. Esta pesquisa analisa se a apresentação de relatórios de sustentabilidade, sua auditoria e o uso de normas internacionais de auditoria (ISAE3000-AA1000) afetam a liquidez do mercado chileno. Uma análise comparativa realizou-se antes e depois da publicação da Norma Geral nº 385, que recomenda informar o desenvolvimento sustentável. Por meio do uso de dados em painel e da estimativa de modelos econométricos, os resultados mostram que a apresentação de relatórios de sustentabilidade afeta positivamente a liquidez das empresas. O efeito aumenta após a publicação dos regulamentos. Contrariamente às expectativas, a auditoria desses relatórios não tem o efeito esperado. No entanto, o uso do padrão internacional AA1000 afeta positivamente as empresas que o utilizam voluntariamente

Ataxia telangiectasia: effects of cycloheximide on G2 repair of chromosome damage in lymphocytes cultured in vitro Ataxia telangiectasia: efectos de cicloheximida en la reparacion del daño cromosomico durante G2 en linfocitos cultivados in vitro.

The chromosomal sensitivity to the spontaneous and induced DNA damage detected in lymphocytes from patients affected with ataxia telangiectasia (AT) might be related with disturbances in DNA repair mechanisms. We have studied the effect of caffeine, an inhibitor of G2 repair and the enlargement of G2 by 0.5 ug/ml cycloheximide on chromosomal aberration frequencies in AT lymphocytes, both in control and X-ray irradiated conditions. The increase of spontaneous and X-ray induced chromosomal aberrations by caffeine treatments during G2 in AT lymphocytes was higher than in control cells. The number of spontaneous and X-ray induced lesions repaired during G2 in AT cells was higher than in normal cells. The enlargement of G2 duration by 0.5 ug/ml cycloheximide decreased the spontaneous and X-ray induced chromosomal aberrations in AT cells, whereas no such effect was observed in control cells. We postulate that disturbances in the mechanism that control G2 duration might be involved in the hi

The effect of integrated reporting quality on market liquidity and analyst forecast error

Purpose The purpose of this study is to examine the effect of integrated reporting (IR) quality on both market liquidity and analyst forecast accuracy in South Africa as the only country in the world having IR as a listing requirement. This study uses the Sustainability Disclosure Transparency Index (SDTI) as a proxy for IR disclosure quality. The analysis of this study is based on the period after the publication of the international framework and its adoption by the International Reporting Committee of South Africa in 2014. Design/methodology/approach The companies sampled in this study are those listed on the Johannesburg Stock Exchange (JSE) from 2013 to 2015. The major factor driving the selection of this particular period was to not only analyse the existing IR practice but also investigate IR two years after King III came into force. The SDTI developed by Integrated Reporting and Assurance Services (IRAS) was used to analyse IR quality. Ordinary least squares regressions were analysed. The models include year and industry fixed effects. The variance inflation factor and its tolerance were used to test the severity of multi-collinearity. Also, alternative measures of IR quality and alternate model specifications were analysed to check the robustness of the results. Findings The authors find that quality of IR is associated with lower earnings forecast error. The evidence indicates that earnings forecast error is lower for firms in the materials sector of the South African economy. Consistent with prior research, the results also suggest that forecast errors are higher for companies with volatile returns and lower for larger firms. Additional analysis indicates that IR quality is positively associated with market liquidity. Overall, these findings support the virtues of IR, thus providing useful information to capital markets. Research limitations/implications The results obtained cannot be generalised to other jurisdictions. While the South African economy is the best setting to investigate IRs, new economies are also working actively on IR disclosures, so future research is likely to extend the literature in this field. Secondly, the availability of data constrained the sample size; however, this only mediates against finding any statistically significant result. While the IRAS database offers information about 324 JSE companies, Datastream covers only the 170 largest South African firms. In spite of the sample reduction, robust and consistent results are found in the market liquidity and analyst forecast accuracy proxies. Practical implications The sample period of this study (2013-2015) allows to understand disclosure behaviour after the international IR framework was published and endorsed by the JSE. The release of the IIRF gave clear guidance to firms regarding the nature and purpose of IR. Overall, the results obtained in this paper are consistent with IR expectations, thus providing useful information for investors and financial analysts. It is expected that the results might have practical implications for other nations about the cost and benefits of implementing integrated management reporting. Originality/value This paper contributes incrementally to the existing debate about whether disclosure information through IR has real benefits or is a passing fad. It examines the economic consequences of IR in a mandatory setting using an in-house ranking system, adapted to South Africa, designed by IRAS to determine IR quality. IRAS provides an SDTI that assesses the accuracy, consistency, completeness and reliability of quantitative data for 84 indicators based on IR and global reporting initiative aspects and subdivided into seven categories

Relatórios de sustentabilidade e sua auditoria: efeito na liquidez do mercado

This study analyses whether the presentation of sustainability reports, their audits, and the use of International Standards on Auditing (ISAE3000-AA1000), have an effect on the Chilean market liquidity. A comparative analysis is carried out before and after the publication of the Chilean Regulation N.o 385, which recommends reporting sustainable development. By using panel data, and by estimation of econometric models, the results show that the presentation of sustainability reports has a positive effect on liquidity of companies. The effect is increased after the normative was published. Contrary to the expectations, the audit of these reports does not have the expected effect. However, the use of the international standard AA1000 positively affects the liquidity of those companies that voluntarily decide to use it.Esta investigación analiza si la presentación de los reportes de sustentabilidad, su auditoría y el uso de estándares internacionales de auditoría (ISAE3000-AA1000) tienen un efecto en la liquidez del mercado chileno. Se realiza un análisis comparativo previo y posterior a la publicación de la Norma de Carácter General N.º 385, la cual recomienda informar el desarrollo sustentable. Mediante la utilización de datos de panel, y a través de la estimación de modelos econométricos, los resultados muestran que la presentación de los reportes de sustentabilidad tiene un efecto positivo en la liquidez de las compañías. El efecto se ve incrementado posterior a la publicación de la normativa. Contrario a las expectativas, la auditoría de estos reportes no tiene el efecto esperado. Sin embargo, el uso del estándar internacional AA1000 afecta positivamente a aquellas empresas que voluntariamente lo utilizan. Esta pesquisa analisa se a apresentação de relatórios de sustentabilidade, sua auditoria e o uso de normas internacionais de auditoria (ISAE3000-AA1000) afetam a liquidez do mercado chileno. Uma análise comparativa realizou-se antes e depois da publicação da Norma Geral nº 385, que recomenda informar o desenvolvimento sustentável. Por meio do uso de dados em painel e da estimativa de modelos econométricos, os resultados mostram que a apresentação de relatórios de sustentabilidade afeta positivamente a liquidez das empresas. O efeito aumenta após a publicação dos regulamentos. Contrariamente às expectativas, a auditoria desses relatórios não tem o efeito esperado. No entanto, o uso do padrão internacional AA1000 afeta positivamente as empresas que o utilizam voluntariamente

Evaluation of chromosome damage induced by X-rays in human lymphocytes Evaluación del daño cromosómico inducido por rayos X en linfócitos humanos.

Aiming to assess the DNA damage induced by low doses of ionizing radiations, control and X-ray irradiated (10 rad) whole blood cultured lymphocytes were treated with the following G2 DNA synthesis and repair inhibitors: caffeine (caff), hydroxyurea (hu), aphidicolin (aphi) and 1-beta-D-arabinofuranocylcytocine (ara C). The effects of each inhibitor or its combinations were assessed counting the number of chromatid breaks, which were considered equivalent to unrepaired lesions. Our results showed that 5 mM caff and 2.5 mM Hu were the inhibitors that separately produced the higher frequency of chromatid breaks. Likewise, the combination of 5 mM caff, aphi 5 micrograms/ml and ara C 1 microM, or 2.5 mM HU and 0.1 microM ara C, allowed to detect the highest number of induced lesions arriving G2 lesions. We therefore propose that the use of these two last inhibitor combinations, can be used as alternative methods to detect DNA damage induced by low levels of ionizing radiation, in lymphocyt

SALL Proteins; Common and Antagonistic Roles in Cancer

SALL proteins are a family of four conserved C2H2 zinc finger transcription factors that play critical roles in organogenesis during embryonic development. They regulate cell proliferation, survival, migration, and stemness; consequently, they are involved in various human genetic disorders and cancer. SALL4 is a well-recognized oncogene; however, SALL1–3 play dual roles depending on the cancer context and stage of the disease. Current reviews of SALLs have focused only on SALL2 or SALL4, lacking an integrated view of the SALL family members in cancer. Here, we update the recent advances of the SALL members in tumor development, cancer progression, and therapy, highlighting the synergistic and/or antagonistic functions they perform in similar cancer contexts. We identified common regulatory mechanisms, targets, and signaling pathways in breast, brain, liver, colon, blood, and HPV-related cancers. In addition, we discuss the potential of the SALL family members as cancer biomarkers and in the cancer cells’ response to therapies. Understanding SALL proteins’ function and relationship will open new cancer biology, clinical research, and therapy perspectives