Voluntary Disclosure and Earnings Management

Discretion pervades the accounting rules. Proponents argue that allowing discretion enables managers to incorporate more information in their disclosures, while opponents believe that managers can abuse discretion and engage in earnings management at the expense of shareholders. We explicitly model accounting discretion and earnings management in a disclosure setting motivated by Shin (1994). We use this setting to study the interaction between management’s voluntary disclosure and the subsequent mandatory disclosure of value-relevant information. We show that, in equilibrium, allowing the manager to have some discretion over the mandatory financial reports may enhance the informativeness of the more-timely voluntary disclosure. However, allowing too much discretion for earnings management may result in less informative voluntary disclosure. Thus there may be a hidden benefit of granting some (but not too much) discretion in firms’ mandatory financial statements

Design and Evaluation of Digital Baseband Converter Sub-channel Delay Compensation Method on Bandwidth Synthesis

The effect of sub-channel delay on bandwidth synthesis is investigated to eliminate the “phase step” phenomenon in bandwidth synthesis during the test of CDBE (Chinese Digital Backend). Through formula derivation, we realize that sub-channel delay may cause phase discontinuity between different sub-channels. Theoretical analysis shows that sub-channel delay can induce bandwidth synthesis error in group delay measurement of the linear system. Furthermore, in the differential delay measurement between two stations, bandwidth synthesis error may occur when the LO (Local Oscillator) frequency differences of corresponding sub-channels are not identical. Error-free conditions are discussed under different applications. The phase errors among different sub-channels can be removed manually. However, the most effective way is the compensation of sub-channel delay. A sub-channel delay calculation method based on Modelsim is proposed. The compensation method is detailed. Simulation and field experiments are presented to verify our approach

The Application of Resonance Light Scattering Technique for the Determination of Tinidazole in Drugs

A resonance light scattering technique to determine tinidazole in drugs was developed by tetraphenylboron sodium (TPB). Tinidazole was found to bind B(C6H5)−4 anion and transformed to tinidazole-TPB aggregate which displayed intense resonance scattering light. Effects of factors such as wavelength, acidity, stabilizers, and interferents on the RLS of tinidazole TPB were investigated in detail. The RLS intensity of the tinidazole-TPB suspension was obtained in sulfuric acid solution (pH = 1.44). The resonance scattering light intensity at the maximum RLS peak of 569.5 nm was linear to the concentration of tinidazole in the range of 10.0–30.0 μg mL−1 with a detection limit of 5.0 μg mL−1. Good results were also obtained with the recovery range of 95.13–106.76%. The method was applied to determine tinidazole in injections and tablets, showing high sensitivity and accuracy compared with the high performance liquid chromatography method (HPLC) according to Chinese Pharmacopoeia