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

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

An improved optimization technique for estimation of solar photovoltaic parameters

The nonlinear current vs voltage (I-V) characteristics of solar PV make its modelling difficult. Optimization techniques are the best tool for identifying the parameters of nonlinear models. Even though, there are different optimization techniques used for parameter estimation of solar PV, still the best optimized results are not achieved to date. In this paper, Wind Driven Optimization (WDO) technique is proposed as the new method for identifying the parameters of solar PV. The accuracy and convergence time of the proposed method is compared with results of Pattern Search (PS), Genetic Algorithm (GA), and Simulated Annealing (SA) for single diode and double diode models of solar PV. Furthermore, for performance validation, the parameters obtained through WDO are compared with hybrid Bee Pollinator Flower Pollination Algorithm (BPFPA), Flower Pollination Algorithm (FPA), Generalized Oppositional Teaching Learning Based Optimization (GOTLBO), Artificial Bee Swarm Optimization (ABSO), and Harmony Search (HS). The obtained results clearly reveal that WDO algorithm can provide accurate optimized values with less number of iterations at different environmental conditions. Therefore, the WDO can be recommended as the best optimization algorithm for parameter estimation of solar PV

Esophageal cancer presenting with atrial fibrillation: A case report

<p>Abstract</p> <p>Introduction</p> <p>Atrial fibrillation was previously reported in patients with esophageal cancer as a complication of total esophagectomy or photodynamic therapy. Here, we propose that atrial fibrillation may also be caused by external compression of the left atrium by esophageal cancer.</p> <p>Case presentation</p> <p>We present a 58-year-old man who developed atrial fibrillation with rapid ventricular rate in the emergency room while being evaluated for dysphagia and weight loss. Atrial fibrillation lasted less than 12 hours and did not recur. Echocardiogram did not reveal any structural heart disease. A 10-cm, ulcerated mid-esophageal mass was seen during esophagogastroscopy. Microscopic examination showed squamous cell carcinoma. Computed tomography of the chest revealed esophageal thickening compressing the left atrium.</p> <p>Conclusion</p> <p>External compression of the left atrium was previously reported to provoke atrial fibrillation. Similarly, esophageal cancer may precipitate atrial fibrillation by mechanical compression of the left atrium or pulmonary veins, triggering ectopic beats in susceptible patients.</p

Characterization of angularly resolved EUV emission from 2-μm-wavelength laser-driven Sn plasmas using preformed liquid disk targets

The emission properties of tin plasmas, produced by the irradiation of preformed liquid tin targets by several-ns-long 2 µm-wavelength laser pulses, are studied in the extreme ultraviolet (EUV) regime. In a two-pulse scheme, a pre-pulse laser is first used to deform tin microdroplets into thin, extended disks before the main (2 µm) pulse creates the EUV-emitting plasma. Irradiating 30- to 300 µm-diameter targets with 2 µm laser pulses, we find that the efficiency in creating EUV light around 13.5 nm follows the fraction of laser light that overlaps with the target. Next, the effects of a change in 2 µm drive laser intensity (0.6–1.8 × 1011 W cm−2) and pulse duration (3.7–7.4 ns) are studied. It is found that the angular dependence of the emission of light within a 2% bandwidth around 13.5 nm and within the backward 2π hemisphere around the incoming laser beam is almost independent of intensity and duration of the 2 µm drive laser. With increasing target diameter, the emission in this 2% bandwidth becomes increasingly anisotropic, with a greater fraction of light being emitted into the hemisphere of the incoming laser beam. For direct comparison, a similar set of experiments is performed with a 1 µm-wavelength drive laser. Emission spectra, recorded in a 5.5–25.5 nm wavelength range, show significant self-absorption of light around 13.5 nm in the 1 µm case, while in the 2 µm case only an opacity-related broadening of the spectral feature at 13.5 nm is observed. This work demonstrates the enhanced capabilities and performance of 2 µm-driven plasmas produced from disk targets when compared to 1 µm-driven plasmas, providing strong motivation for the use of 2 µm lasers as drive lasers in future high-power sources of EUV light

Cutting processes of natural fiber reinforced polymer composites

Recently, natural fiber-reinforced polymers (NFRPs) have become important materials in many engineering applications; thus, to employ these materials some final industrial processes are needed, such as cutting, trimming, and drilling. Because of the heterogeneous nature of NFRPs, which differs from homogeneous materials such as metals and polymers, several defects have emerged when processing the NFRPs through traditional cutting methods such as high surface roughness and material damage at cutting zone. In order to overcome these challenges, unconventional cutting methods were considered. Unconventional cutting methods did not take into account the effects of cutting forces, which are the main cause of cutting defects in traditional cutting processes. The most prominent unconventional cutting processes are abrasive waterjet (AWJM) and laser beam (LBM) cutting technologies, which are actually applied for cutting various NFRPs. In this study, previously significant studies on cutting NFRPs by AWJM and LBM are discussed. The surface roughness, kerf taper, and heat-affected zone (HAZ) represent the target output parameters that are influenced and controlled by the input parameters of each process. However, this topic requires further studies on widening the range of material thickness and input parameter values

Mikroskop İle Tümleştirilmiş Tek Eksenli Çekme Cihazı İle Pdms’nin Viskoelastik Karakterizasyonu

Konferans Bildirisi-- İstanbul Teknik Üniversitesi, Teorik ve Uygulamalı Mekanik Türk Milli Komitesi, 2017Conference Paper -- İstanbul Technical University, Theoretical and Applied Mechanical Turkish National Committee, 2017Polidimetilsiloksan (PDMS) ayarlanabilir mekanik ve yüzey özellikleri sayesinde biyomedikal, ilaç taşıyıcı sistemler, mikroakışkan çalışmalar ve biyolojik algılayıcılarda sıklıkla kullanılmaktadır. Günümüzde PDMS kullanılarak kontrollü bir şekilde mikron-altı (submicron) boyutta yapılar inşa edilmekte ve bu yapılar kullanılarak nanoNewton-altı kuvvetler ölçülebilmektedir. PDMS yapılardaki deformasyonları doğru bir şekilde kuvvet değerlerine çevirmek için PDMS’ye en uygun bünye (constitutive) modelin oluşturulması gerekmektedir. Doğrusal olmayan mekanik özelliklere sahip PDMS’nin detaylı bir karakterizasyonu yapılmış olmasına rağmen Poisson oranı rapor edilirken PDMS’nin viskoelastik özelliği hesaba katılmamıştır. PDMS için literatürde belirtilen Poisson oranı 0.45 ile 0.5 arasında değişmektedir. Poisson oranının kullanılan gerinim tanımından bağımsız ve statik şartlarda raporlanması eksik ve hatalı bir ifadedir. PDMS için detaylı bir Poisson oranı incelemesi içeren bu çalışmada tek eksenli bir çekme düzeneği optik mikroskop ile tümleştirilerek çekme esnasında test numunesinin belirli bölgelerinden mikroskop görüntüleri alınmıştır. Poisson oranını doğru ve eksiksiz olarak tanımlamak için PDMS’nin viskoelastik özelliği ve kullanılacak gerinim tanımları hesaba katılmıştır.Polydimethylsiloxane (PDMS) is frequently used in drug delivery systems, microfluidic devices, biomedical systems and biosensors due to its tunable mechanical and surface properties. In recent studies, the traction forces in sub-nanoNewton were measured by interpreting the deformation of PDMS micropillars which are precisely patterned at the submicron scale. Although PDMS is a well-known viscoelastic material, researchers did not take viscoelastic properties into account while reporting Poisson’s ratio. The reported Poisson’s ratio for PDMS varies between 0.45 and 0.50 and is considered time-independent despite of its viscoelasticity. Defining Poisson’s ratio as a constant without referring to any strain definition provides an incomplete and incorrect picture. In this study, a detailed study of Poisson’s ratio of PDMS will be carried out by integrating a uniaxial tensile stretcher with an optical microscope to capture images of a certain area in the field of view during stretching. We took viscoelastic properties of PDMS and strain definition into account to make a complete and proper definition of Poisson’s ratio

Phylogeny and evolution of infectious bursal disease virus circulating in Turkish broiler flocks

The emergence of new infectious bursal disease virus (IBDV) variants can threaten poultry health and production all over the world causing significant economic losses. Therefore, this study was performed to determine IBDV molecular epidemilogy, VP2 gene variation, and corresponding pathological lesions in IBDV infected chickens in Turkey. For this, 1855 bursa of Fabricius samples were collected from 371 vaccinated broiler flocks. Atrophia and haemorrhages were seen in the bursa Fabricius of very virulent IBDV (vvIBDV) infected chickens. Partial VP2 gene was sequenced and phylogenetic, recombination, and evolutionary analyses were performed. 1548 (83.5%) out of 1855 of bursa of Fabricius samples were IBDV positive and 1525 of those could be sequenced. The recombination analysis did not detect occurrence of any recombination event among the Turkish strains. Among 1525 sequenced samples, 1380 of them were found to be classical strains. Among 1380 classical strains, 1317 were similar to IBDV 2512, 11 to Faragher 52/70, 40 to 228 E, and 12 to Lukert strain. Out of 1525 reverse transcriptase ploymerase chain reaction positive samples, 144 of them were found to be similar to vvIBDV-VP2 gene reported to GenBank previously. The phylogenetic tree performed on a broad sequence dataset demonstrated grouping of vvIBDV Turkish strains in three different clusters, including sequences collected also from Iraq and Kuwait (Cluster 1), Indian (Cluster 2), and a distinct Turkish-only cluster (Cluster 3). The evolutionary rate estimation on branches/clades including Turkish strain mirrored the expected one for RNA viruses and no significant differences were found among different considered branches. In conclusion, results of this study indicate that vvIBDV strains similar to those circulating in various countries in the Middle East are present and undergoing evolution in chickens from Turkish broiler flocks. This point needs to be taken into account in planning adequate control strategies

Budd-Chiari syndrome in a 25-year-old woman with Behçet's disease: a case report and review of the literature

<p>Abstract</p> <p>Introduction</p> <p>The risk that patients with Behçet's disease will develop thrombotic complications has been previously described. Although it is distributed worldwide, Behçet's disease is rare in the Americas and Europe. Even though the pathogenic mechanisms of vascular complications of Budd-Chiari syndrome in patients with Behçet's disease are unknown, severe vascular complications of Budd-Chiari syndrome associated with Behçet's disease seem to affect mainly young men.</p> <p>Case presentation</p> <p>We report a case of Budd-Chiari syndrome, a severe vascular complication that developed in a 25-year-old Afro-Brazilian woman with Behçet's disease.</p> <p>Conclusion</p> <p>Severe vascular complications of Budd-Chiari syndrome in patients with Behçet's disease are much more common in young adult male patients; we present a rare case of Budd-Chiari syndrome in a young Afro-Brazilian woman with Behçet's disease.</p