Transparency, financial accounting information, and corporate governance

Audited financial statements along with supporting disclosures form the foundation of the firm-specific information set available to investors and regulators. In this article, the authors discuss economics-based research focused on the properties of accounting systems and the surrounding institutional environment important to effective governance of firms. They provide a framework for understanding the operation of accounting information in an economy, discuss a broad range of important research findings, present a conceptual framework for characterizing and measuring corporate transparency at the country level, and isolate a number of future research possibilities.Corporations - Accounting ; Stockholders ; Corporate governance

Variable temperature study of the crystal and magnetic structures of the giant magnetoresistant materials LMnAsO (L=La, Nd)

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Body Composition and Muscle Characteristics of Division I Track and Field Athletes

The purpose of this study was to evaluate event-specific body composition and muscle characteristics of track and field athletes, and to assess body composition changes after one year. Sixty collegiate track and field athletes (Mean ± SD; Age = 19.2 ± 1.4 yrs, Height = 174.6 ± 9.0 cm, Weight = 71.5 ± 12.5 kg) were stratified into six event groups. Total and regional body composition measurements were assessed using dual-energy x-ray absorptiometry. A panoramic scan of the vastus lateralis was taken with B-mode ultrasound to determine muscle cross sectional area (mCSA) and echo intensity (EI). Body composition measurements were repeated a year later in a subset of returning athletes (n=33). Throwers had significantly more absolute fat mass (FM; 21.6 ± 11.0 kg), total body mass (89.7 ± 17.4 kg), percent fat (23.6 ± 7.8) and trunk fat (9.4 ± 5.8 kg) than all other event groups (p0.05), but relative to body mass had relatively less LM (0.72 ± 0.08 kg; p<0.05). Despite high FM, throwers had lower EI (63.4 ± 5.2 a.u). After one year, relative armLM increased slightly in all event groups (p<0.05). Evaluation of muscle characteristics in addition to total and regional body composition may be valuable for improving performance, injury prevention, and assessing health risks. With appropriate training, track and field athletes may be able to minimize losses in LM and gains in FM between seasons

Seasonal Effects on Body Composition, Muscle Characteristics, and Performance of Collegiate Swimmers and Divers

Previous researchers have indicated the importance of body composition and muscle quality in athletic performance. However, body composition and muscle-quality measures in swimmers and divers over a training season have yet to be evaluated

Capital Allocation and Timely Accounting Recognition of Economic Losses

This paper explores direct relations between corporate investment behavior and the timeliness of accounting recognition of economic losses (TLR) reflected in a country’s accounting regime. We explicitly investigate the extent to which TLR plays a role in disciplining the investment decisions of firm managers. Building on the idea that asymmetric verification standards underpin TLR, we hypothesize that TLR has an asymmetric impact on investment behavior that depends on whether a firm is facing a decrease or an increase in investment opportunities. Specifically, we hypothesize that the sensitivity of investment to a decline in investment opportunities is increasing in country-level TLR, consistent with more timely loss recognition disciplining managers to avoid negative net present value projects. On the other hand, we hypothesize that TLR will not influence the sensitivity of investment responses to increasing investment opportunities. Using firm-level investment decisions spanning twenty five countries, we find that investment responses to declining opportunities increases with TLR, while we find no evidence that TLR influences the sensitivity of investment to increasing investment opportunities. Our results are robust to alternative estimates of TLR, alternative estimates of investment responses to changing investment opportunities, and to controls for important country-level, industry-level, and firm-level variables that may impact firms’ investment decisions

Effects of coffee and caffeine anhydrous on strength and sprint performance

Caffeine and coffee are widely used among active individuals to enhance performance. The purpose of the current study was to compare the effects of acute coffee (COF) and caffeine anhydrous (CAF) intake on strength and sprint performance. Fifty-four resistance-trained males completed strength testing, consisting of one-rep max (1RM) and repetitions to fatigue (RTF) at 80% of 1RM for leg press (LP) and bench press (BP). Participants then completed five, ten-second cycle ergometer sprints separated by one minute of rest. Peak power (PP) and total work (TW) were recorded for each sprint. At least 48 hours later, participants returned and ingested a beverage containing CAF (300 mg flat dose; yielding 3–5 mg/kg bodyweight), COF (8.9 g; 303 mg caffeine), or placebo (PLA; 3.8 g noncaloric flavoring) 30 minutes before testing. LP 1RM was improved more by COF than CAF (p=0.04), but not PLA (p=0.99). Significant interactions were not observed for BP 1RM, BP RTF, or LP RTF (p>0.05). There were no sprint × treatment interactions for PP or TW (p>0.05). 95% confidence intervals revealed a significant improvement in sprint 1 TW for CAF, but not COF or PLA. For PLA, significant reductions were observed in sprint 4 PP, sprint 2 TW, sprint 4 TW, and average TW; significant reductions were not observed with CAF or COF. Neither COF nor CAF improved strength outcomes more than PLA, while both groups attenuated sprint power reductions to a similar degree. Coffee and caffeine anhydrous may be considered suitable pre-exercise caffeine sources for high-intensity exercise

The Relationship between the Crystal Structure and Electrical Properties of Oxide Ion Conducting Ba3W1.2Nb0.8O8.6

This research was supported by the University of Aberdeen and EPSRC (research grant EP/L002493/1). We also acknowledge the UK Science and Technology Facilities Council (STFC) for provision of beamtime at ISIS and the ILL.Peer reviewedPostprintPostprin

Effects of Coffee and Caffeine Anhydrous Intake During Creatine Loading

The purpose of this study was to determine the effect of 5 d of creatine (CRE) loading alone or in combination with caffeine anhydrous (CAF) or coffee (COF) on upper and lower body strength and sprint performance. Physically active males (n=54; Mean ± SD; Age = 20.1 ± 2.1 yrs; Weight = 78.8 ± 8.8 kg) completed baseline testing, consisting of one-repetition maximum (1RM) and repetitions to fatigue (RTF) with 80% 1RM for bench press (BP) and leg press (LP), followed by a repeated sprint test of five, 10 s sprints separated by 60 s rest on a cycle ergometer to determine peak power (PP) and total power (TP). At least 72 hr later, subjects were randomly assigned to supplement with CRE (5 g creatine monohydrate, 4 times*d−1; n=14), CRE+CAF (CRE + 300 mg*d−1 of CAF; n=13), CRE+COF (CRE + 8.9 g COF, yielding 303 mg caffeine; n=13), or placebo (PLA; n=14) for 5 d. Serum creatinine (CRN) was measured prior to and following supplementation and on day six, participants repeated pre-testing procedures. Strength measures were improved in all groups (p<0.05), with no significant time × treatment interactions. No significant interaction or main effects were observed for PP. For TP, a time × sprint interaction was observed (p<0.05), with no significant interactions between treatment groups. A time × treatment interaction was observed for serum CRN values (p<0.05) that showed increases in all groups except PLA. Four subjects reported mild gastrointestinal discomfort with CRE+CAF, with no side effects reported in other groups. These findings suggest that neither CRE alone, nor in combination with CAF or COF, significantly affected performance compared to PLA

Dietary macronutrient distribution influences post-exercise substrate utilization in women: A cross-sectional evaluation of metabolic flexibility

Metabolic flexibility is the ability to alter substrate utilization in response to substrate availability, which may influence health and performance. The current study evaluated the effects of habitual macronutrient distribution on energy expenditure (EE) and metabolic flexibility in physically active women

Dietary protein intake is associated with maximal and explosive strength of the leg flexors in young and older blue collar workers

The aim of this study was to investigate the association between dietary PRO intake and maximal and rapid strength of the leg flexors in blue collar (BC) working men. Twenty-four young (age=23.2±2.1 yrs), and nineteen older aged (age=52.8±5.2 yrs) men employed in BC occupations completed a three day dietary record and isometric strength testing of the leg flexors. Food logs were analyzed for total protein (TPRO) and essential amino acid (EAA) intake. Rapid and maximal strength capacities were examined from the rate of torque development at 50ms (RTD50) and peak torque (PT) of the torque-time curves, respectively. Pearson correlations and partial correlations were used to examine the relationships between TPRO and EAA intake on strength variables. PT was positively correlated to TPRO and EAA intake in the young (r=0.439 and 0.431;P0.05) between TPRO and strength variables when controlling for EAA intake. TPRO intake explained 20–44% of the variance in rapid and maximal strength for both age groups. EAA intake was largely responsible for the positive relationship between PRO intake and strength. Across young and older aged blue collar working male populations, protein consumption was associated with both maximal and explosive strength capacities of the leg flexors muscle group