The Effect of Technical Default Cost on Discretionary Accounting Decisions

This is the author's final draft. Copyright 2014 Kaizen Publications.This study investigates whether the variation in the expected costs of technical default leads managers to manipulate earnings in periods prior to, as well as in, the year in which avoidance of technical default becomes unlikely. We argue that managers have private information about the expected costs and consequences of default and, prior to default, condition their decisions about accounting choice and discretion on these expectations. We provide evidence on the endogeneity of two forms of discretion in accounting choices in the context of testing the debt covenant hypothesis. We document that both forms of earnings management are associated with a lower cost of technical default. Our findings also suggest earnings management is less likely when the expected cost of technical default is low, and such decisions are associated with a lower default cost for firms that actually enter technical default

Association of Ferredoxin:NADP+ oxidoreductase with the photosynthetic apparatus modulates electron transfer in Chlamydomonas reinhardtii

R.M. acknowledges support from the MEXT (Ministry of Education, Culture, Sports, Science and Technology, 15K21122). T.H. gratefully acknowledges support from the DFG (DIP project cooperation “Nanoengineered optoelectronics with biomaterials and bioinspired assemblies”) and the Volkswagen Foundation (LigH2t). G.K. acknowledges support from CREST, Japan Science and Technology Agency. M.H. acknowledges support from the DFG (Deutsche Forschungsgemeinschaft, HI 739/13-1)

Mobile Fourier-transform infrared spectroscopy monitoring of air pollution

Fourier transform infrared spectroscopy is an efficient technique for the detection and quantification of molecules in gas mixtures. Measurement results from a mobile laboratory for ambient air analysis and for remote sensing of plume emission with the commercially available K300 spectrometer are reported. CO, CO2, NO, NO2, N2O, NH3, CH4, SO2, H2O, HCl, and HCHO concentrations have been determined with good agreement with in situ results. The on-line multicomponent analysis software is based on line-by-line retrieval and least-squares fitting procedures, including the effects of multiple aerosol scattering and cloud and rain influences

Erprobung neuerer endokrino- und anaesthesiologischer Erkenntnisse bei der kuenstlichen Ernaehrung Schwerverletzter 1. Zwischenbericht

Technische Informationsbibliothek Hannover: RN 3603 (81-6) / FIZ - Fachinformationszzentrum Karlsruhe / TIB - Technische InformationsbibliothekSIGLEDEGerman