The impact of shareholder litigation risk on income smoothing

This paper investigates whether and how shareholder litigation influences income smoothing. Using the ruling of the Ninth Circuit Court of Appeals in 1999 as an exogenous shock to the threat of litigation, we find that the increasing difficulty of class action lawsuits decreases income smoothing. This finding is robust to different model specifications. We also show that such an effect is stronger for firms that are more likely to face greater pressure from the threat of shareholder litigation risk. Overall, our findings extend the literature on investigating how class action lawsuits can affect the motivation of income smoothing

The Impact of Shareholder Litigation Risk on Income Smoothing

This paper investigates whether and how shareholder litigation influences income smoothing. Using the ruling of the Ninth Circuit Court of Appeals in 1999 as an exogenous shock to the threat of litigation, we find that the increasing difficulty of class action lawsuits decreases income smoothing. This finding is robust to different model specifications. We also show that such an effect is stronger for firms that are more likely to face greater pressure from the threat of shareholder litigation risk. Overall, our findings extend the literature on investigating how class action lawsuits can affect the motivation of income smoothing

Peran Praktisi Dalam Pengembangan Teori Dan Proses Pembelajaran Untuk Sekolah Bisnis

The decreasing number of intakes and quality of the students, and crisis identityhave jeopardise the survival of business schools. There must be a breakthrough toovercome these hard situation. One of the solution is theories-in-use approach, whichis needed to develop the appropriate theory. The writer also suggests to recruit practitionersas the faculty members. This will encourage original theories developmentwhich is appropriate for third world countries like Indonesia. The other solutionis to send the existing lecturers to join the consulting and encourage them to havethe knowledge of practice world. By doing these, hopefully better condition will beachieved

Pendugaan Model Permintaan Ubi Kayu di Indonesia

Cassava (Manihot esculenta Crantz) is important commodity of Indonesia not only as forth producer after Nigeria, Thailand, and Brazil but also as source of carbohydrate. This research will use time series data among 1999-2009. The increasing of cassava production along 1971-2009 reaching 22,03 million tons. And also the projection until 2010 increase until 25,54 million tons. By this increasing, it is expected can open fissure of production and marketing in Indonesia better than before. Simultaneously test of variable contained the coming of cassava stock, another demand, cassava export, cassava consumption, and the demand of cassava last year has significant effect toward cassava demand

Solar Ring Mission: Building a Panorama of the Sun and Inner-heliosphere

Solar Ring (SOR) is a proposed space science mission to monitor and study the Sun and inner heliosphere from a full 360{\deg} perspective in the ecliptic plane. It will deploy three 120{\deg}-separated spacecraft on the 1-AU orbit. The first spacecraft, S1, locates 30{\deg} upstream of the Earth, the second, S2, 90{\deg} downstream, and the third, S3, completes the configuration. This design with necessary science instruments, e.g., the Doppler-velocity and vector magnetic field imager, wide-angle coronagraph, and in-situ instruments, will allow us to establish many unprecedented capabilities: (1) provide simultaneous Doppler-velocity observations of the whole solar surface to understand the deep interior, (2) provide vector magnetograms of the whole photosphere - the inner boundary of the solar atmosphere and heliosphere, (3) provide the information of the whole lifetime evolution of solar featured structures, and (4) provide the whole view of solar transients and space weather in the inner heliosphere. With these capabilities, Solar Ring mission aims to address outstanding questions about the origin of solar cycle, the origin of solar eruptions and the origin of extreme space weather events. The successful accomplishment of the mission will construct a panorama of the Sun and inner-heliosphere, and therefore advance our understanding of the star and the space environment that holds our life.Comment: 41 pages, 6 figures, 1 table, to be published in Advances in Space Researc

NTIRE 2020 Challenge on Spectral Reconstruction from an RGB Image

This paper reviews the second challenge on spectral reconstruction from RGB images, i.e., the recovery of whole- scene hyperspectral (HS) information from a 3-channel RGB image. As in the previous challenge, two tracks were provided: (i) a "Clean" track where HS images are estimated from noise-free RGBs, the RGB images are themselves calculated numerically using the ground-truth HS images and supplied spectral sensitivity functions (ii) a "Real World" track, simulating capture by an uncalibrated and unknown camera, where the HS images are recovered from noisy JPEG-compressed RGB images. A new, larger-than-ever, natural hyperspectral image data set is presented, containing a total of 510 HS images. The Clean and Real World tracks had 103 and 78 registered participants respectively, with 14 teams competing in the final testing phase. A description of the proposed methods, alongside their challenge scores and an extensive evaluation of top performing methods is also provided. They gauge the state-of-the-art in spectral reconstruction from an RGB image

The effects of external shocks on market based accounting research (MBAR)

The thesis adopts three-chapter requirements and employs quantitative methods. All using difference-in-difference (DID) approach, chapter 2 takes 1999 rulings as an exogenous shock, while chapter 3 and chapter 4 both explore the real impacts of FAS 166/167. Using a sample spanning from 1995-2003 (with 1999 excluded), chapter 2 suggests that the litigation pressure from shareholders might be a potential explanation for managers to smooth income. The findings are robust to confounding laws and the falsification test. And the decrease in income smoothing after the 1999 rulings are more significant when firms fail to meet financial goals, are with more peer pressure, more financially constrained, in non-consumer-oriented industries and with moderate labor unions. My chapter 3 continuously explores the real impact of exogenous shock on accounting manipulation, proving the positive spillover effect of FAS 166/167 on corporate earnings management. We only find the increase in corporate accrual-based earnings management after their lenders adopt FAS 166/167, while no such evidence can be observed in real earnings management. The findings are robust to a battery of concurrent events which are triggered by the financial crisis and might be influential in the shock period. The spillover effect is more significant when firms are facing higher financially stress and experiencing lower-level governance. My chapter 4 extends the line of chapter 3 and proves the positive spillover effect of FAS 166/167 on corporate CSR performance. The main findings are robust to a set of tests and the falsification tests. And the spillover effect is more concentrated among firms which are more financially constrained, more externally monitored and with higher risk levels