Does the tax planning effect R&D expenditures? a study of Borsa Istanbul (BIST) manufacturing sector

Tax planning, which has an important place in financial planning, is the systematic way of avoiding tax in accordance with the laws. In this process, R&D expenditures constitute a tax shield for firms to decrease their tax base. The purpose of this study is to examine whether tax planning affects R&D expenditures. The sample includes 564 firm-year observations over the period 2008-2019 for listed firms operating in the BIST-Manufacturing sector and spending R&D. As the past values of R&D expenditures have an effect on current period expenditures, the dynamic relationship between variables was analyzed by the Generalized Method of Moments (GMM) and System GMM. The findings show that tax planning has a positive effect on R&D expenditures. However, the change in firm size negatively affects R&D expenditures. The study focuses only on certain firms listed in the BIST-Manufacturing sector that made R&D and hence the results might have a limited explanatory capacity for the other sectors. Nevertheless, the findings highlight the need for firms to establish units to carry out tax planning practices that can reduce the tax burden through various means, especially R&D incentives

The effect of R&D expenditures on earnings management: a research on BIST-All Shares

R&D expenditures are important in increasing the level of information and technological development. Efficiency in production, cost reduction and competitive advantage are achieved with the added value created by successful R&D activities. However, in the process of accounting and reporting the R&D expenditures, some manipulative applications can be implemented by the business management for achieving personal or corporate targets. The purpose of this research is to reveal the effect of R&D expenditures on earnings management. In this context, from 2007 to 2018, 65 companies that made R&D expenditures included in BIST-All Shares Index were examined. The earnings management effect calculated on the Modified Jones Model, taking into account the current period, one-year and two-year time lag of R&D expenditures was tested with panel data analysis. As a result of the research, it was determined that R&D expenditures negatively affect earnings management in the current period and positively in lagged periods. In addition, while size and leverage have negative effects on earnings management in the current period, one-year and two-year time lag, no statistically significant relationship was found in terms of return on assets

The effect of spin orbit interaction on the physical properties of LaTSi3 (T = Ir, Pd, and Rh): First-principles calculations

This is the final version of the article. Available from AIP Publishing via the DOI in this record.We have presented the structural, elastic, electronic, phononic, and electron-phonon interaction properties of the La-based noncentrosymmetric superconductors, such as LaIrSi3, LaRhSi3, and LaPdSi3, by using the generalized gradient approximation of the density functional theory. The calculated elastic constants reveal the mechanical stability of all the studied compounds in their noncentrosymmetric structure, while the lack of inversion symmetry gives rise to lift the degeneracy of their electronic bands, except in the Γ-Z and X-P directions. The calculated Eliashberg spectral function shows that all phonon branches of these materials couple considerably with electrons, and thus, all of them make contribution to the average electron-phonon coupling parameter λ. Using the calculated values of λ and the logarithmically averaged phonon frequency ωln, the superconducting critical temperature Tc values for LaIrSi3, LaRhSi3, and LaPdSi3 are estimated to be 0.89, 2.56, and 2.40 K, respectively, which accord very well with their corresponding experimental values of 0.77, 2.16, and 2.60 K.This work was supported by the Scientific and Technical Research Council of Turkey (TÜBİTAK) (Project No. MFAG-115F135)

Lattice dynamics of mixed semiconductors (Be,Zn)Se from first-principles calculations

Vibration properties of Zn(1-x)Be(x)Se, a mixed II-VI semiconductor haracterized by a high contrast in elastic properties of its pure constituents, ZnSe and BeSe, are simulated by first-principles calculations of electronic structure, lattice relaxation and frozen phonons. The calculations within the local density approximation has been done with the Siesta method, using norm-conserving pseudopotentials and localized basis functions; the benchmark calculations for pure endsystems were moreover done also by all-electron WIEN2k code. An immediate motivation for the study was to analyze, at the microscopic level, the appearance of anomalous phonon modes early detected in Raman spectra in the intermediate region (20 to 80%) of ZnBe concentration. This was early discussed on the basis of a percolation phenomenon, i.e., the result of the formation of wall-to-wall --Be--Se-- chains throughout the crystal. The presence of such chains was explicitly allowed in our simulation and indeed brought about a softening and splitting off of particular modes, in accordance with experimental observation, due to a relative elongation of Be--Se bonds along the chain as compared to those involving isolated Be atoms. The variation of force constants with interatomic distances shows common trends in relative independence on the short-range order.Comment: 11 pages, 10 figures, to be published in Phys. Rev.

H -supplemented modules with respect to a preradical

Let M be a right R-module and τ a preradical. We call M τ-H-supplemented if for every submodule A of M there exists a direct summand D of M such that (A+D)/D⊆τ(M/D) and (A+D)/A⊆τ(M/A). Let τ be a cohereditary preradical. Firstly, for a duo module M=M₁⊕M₂ we prove that M is τ-H-supplemented if and only if M₁ and M₂ are τ-H-supplemented. Secondly, let M=⊕ⁿi=1Mi be a τ-supplemented module. Assume that Mi is τ-Mj-projective for all j>i. If each Mi is τ-H-supplemented, then M is τ-H-supplemented. We also investigate the relations between τ-H-supplemented modules and τ-(⊕-)supplemented modules

Projection methods in conic optimization

There exist efficient algorithms to project a point onto the intersection of a convex cone and an affine subspace. Those conic projections are in turn the work-horse of a range of algorithms in conic optimization, having a variety of applications in science, finance and engineering. This chapter reviews some of these algorithms, emphasizing the so-called regularization algorithms for linear conic optimization, and applications in polynomial optimization. This is a presentation of the material of several recent research articles; we aim here at clarifying the ideas, presenting them in a general framework, and pointing out important techniques

Unexpectedly high piezoelectricity of Sm-doped lead zirconate titanate in the Curie point region

Large piezoelectric coefficients in polycrystalline lead zirconate titanate (PZT) are traditionally achieved through compositional design using a combination of chemical substitution with a donor dopant and adjustment of the zirconium to titanium compositional ratio to meet the morphotropic phase boundary (MPB). In this work, a different route to large piezoelectricity is demonstrated. Results reveal unexpectedly high piezoelectric coefficients at elevated temperatures and compositions far from the MPB. At temperatures near the Curie point, doping with 2 at% Sm results in exceptionally large piezoelectric coefficients of up to 915 pm/V. This value is approximately twice those of other donor dopants (e.g., 477 pm/V for Nb and 435 pm/V for La). Structural changes during the phase transitions of Sm-doped PZT show a pseudo-cubic phase forming ≈50 °C below the Curie temperature. Possible origins of these effects are discussed and the high piezoelectricity is posited to be due to extrinsic effects. The enhancement of the mechanism at elevated temperatures is attributed to the coexistence of tetragonal and pseudo-cubic phases, which enables strain accommodation during electromechanical deformation and interphase boundary motion. This work provides insight into possible routes for designing high performance piezoelectrics which are alternatives to traditional methods relying on MPB compositions

Using redundancy to cope with failures in a delay tolerant network

We consider the problem of routing in a delay tolerant net-work (DTN) in the presence of path failures. Previous work on DTN routing has focused on using precisely known network dy-namics, which does not account for message losses due to link failures, buffer overruns, path selection errors, unscheduled de-lays, or other problems. We show how to split, replicate, and erasure code message fragments over multiple delivery paths to optimize the probability of successful message delivery. We provide a formulation of this problem and solve it for two cases: a 0/1 (Bernoulli) path delivery model where messages are ei-ther fully lost or delivered, and a Gaussian path delivery model where only a fraction of a message may be delivered. Ideas from the modern portfolio theory literature are borrowed to solve the underlying optimization problem. Our approach is directly relevant to solving similar problems that arise in replica place-ment in distributed file systems and virtual node placement in DHTs. In three different simulated DTN scenarios covering a wide range of applications, we show the effectiveness of our ap-proach in handling failures