Accounting Conservatism, Changes In Real Investment, And Analysts Earnings Forecasts

This study examines whether sell-side analysts fully incorporate into their earnings forecasts the joint effects between accounting conservatism and changes in real investment on the quality of current earnings. Our results indicate that sell-side analysts do not fully incorporate such effects when they forecast future earnings so that they overestimate (underestimate) future earnings when current earnings are inflated (depressed) by those effects. Thus, we conclude that sell-side analysts do not recognize fully the joint effects between accounting conservatism and real activity on the earnings quality and that they need to mitigate their bias to enhance market efficiency by providing investors with a good benchmark for their earnings expectation

CREEP-FATIGUE DAMAGE AND CRACK INITIATION FOR A MOD 9CR-1MO STRUCTURE WITH WELDMENTS

ABSTRACT A structural test and evaluation on creep-fatigue damage, and creep-fatigue crack initiation have been carried out for a Mod. 9Cr-1Mo steel structural specimen with weldments. The conservatisms of the design codes of ASME Section III subsection and NH and RCC-MR codes were quantified at the welded joints of Mod.9Cr-1Mo steel and 316L stainless steel with the observed images from the structural test. In creep damage evaluation using the RCC-MR code, isochronous curve has been used rather than directly using the creep law as the RCC-MR specifies. A y-shaped steel specimen of a diameter 500mm, height 440mm and thickness 6.35mm is subjected to creep-fatigue loads with two hours of a hold time at 600°C and a primary nominal stress of 30MPa. The defect assessment procedures of RCC-MR A16 guide do not provide a procedure for Mod.9Cr-1Mo steel yet. In this study application of σ d method for the assessment of creep-fatigue crack initiation has been examined for a Mod. 9Cr-1Mo steel structure

High-resolution crystal structure of the non-specific lipid-transfer protein from maize seedlings

AbstractBackground: The movement of lipids between membranes is aided by lipid-transfer proteins (LTPs). Some LTPs exhibit broad specificity, transferring many classes of lipids, and are termed non-specific LTPs (ns-LTPs). Despite their apparently similar mode of action, no sequence homology exists between mammalian and plant ns-LTPs and no three-dimensional structure has been reported for any plant ns-LTP.Results We have determined the crystal structure of ns-LTP from maize seedlings by multiple isomorphous replacement and refined the structure to 1.9 å resolution. The protein comprises a single compact domain with four α-helices and a long C-terminal region. The eight conserved cysteines form four disulfide bridges (assigned as Cys4–Cys52, Cys14–Cys29, Cys30–Cys75, and Cys50–Cys89) resolving the ambiguity that remained from the chemical determination of pairings in the homologous protein from castor bean. Two of the bonds, Cys4–Cys52 and Cys50–Cys89, differ from what would have been predicted from sequence alignment with soybean hydrophobic protein. The complex between maize ns-LTP and hexadecanoate (palmitate) has also been crystallized and its structure refined to 1.8 å resolution.Conclusion The fold of maize ns-LTP places it in a new category of all-α-type structure, first described for soybean hydrophobic protein. In the absence of a bound ligand, the protein has a tunnel-like hydrophobic cavity, which is large enough to accommodate a long fatty acyl chain. In the structure of the complex with palmitate, most of the acyl chain is buried inside this hydrophobic cavity

Virilizing Adrenocortical Oncocytoma in a Child: A Case Report

Functioning adrenocortical oncocytomas are extremely rare and most reported patients are 40-60 yr of age. To our knowledge, only 2 cases of functioning adrenocortical oncocytomas have been reported in childhood. We report a case of functioning adrenocortical oncocytoma in a 14-yr-old female child presenting with virilization. She presented with deepening of the voice and excessive hair growth, and elevation of plasma testosterone and dehydroepiandrosterone sulfate. She had an adrenalectomy. The completely resected tumor composed predominantly of oncocytes without atypical mitosis and necrosis. A discussion of this case and a review of the literature on this entity are presented

The Efficacy and Safety of Ablative Fractional Resurfacing Using a 2,940-Nm Er:YAG Laser for Traumatic Scars in the Early Posttraumatic Period

BackgroundSkin injuries, such as lacerations due to trauma, are relatively common, and patients are very concerned about the resulting scars. Recently, the use of ablative and non-ablative lasers based on the fractional approach has been used to treat scars. In this study, the authors demonstrated the efficacy and safety of ablative fractional resurfacing (AFR) for traumatic scars using a 2,940-nm erbium: yttrium-aluminum-garnet (Er:YAG) laser for traumatic scars after primary repair during the early posttraumatic period.MethodsTwelve patients with fifteen scars were enrolled. All had a history of facial laceration and primary repair by suturing on the day of trauma. Laser therapy was initiated at least 4 weeks after the primary repair. Each patient was treated four times at 1-month intervals with a fractional ablative 2,940-nm Er:YAG laser using the same parameters. Post-treatment evaluations were performed 1 month after the fourth treatment session.ResultsAll 12 patients completed the study. After ablative fractional laser treatment, all treated portions of the scars showed improvements, as demonstrated by the Vancouver Scar Scale and the overall cosmetic scale as evaluated by 10 independent physicians, 10 independent non-physicians, and the patients themselves.ConclusionsThis study shows that ablative fractional Er:YAG laser treatment of scars reduces scars fairly according to both objective results and patient satisfaction rates. The authors suggest that early scar treatment using AFR can be one adjuvant scar management method for improving the quality of life of patients with traumatic scars