Chapter 7 and Chapter 11 Bankruptcy Factors

In light of the Financial Accounting Standards Board’s August 2014 Accounting Standard Update on management Going Concern Statements, research using financial ratios to predict bankruptcy is more relevant than ever. Even though numerous research articles examine factors that predict bankruptcy, few make the distinction between the factors that affect Chapter 7 versus Chapter 11 bankruptcy. This work examines the factors that affect these two bankruptcy types (7 and 11) using the Securities and Exchange Commission data on 425 firms that filed for Chapter 7 or Chapter 11 bankruptcy. We tested our data using t-test, ordinary least squares (OLS), and logistic regression. Our results indicate that the asset turnover ratio and going concern statement are significant predictors of Chapter 7 versus Chapter 11 bankruptcy. We note the implications for auditors, corporate management, corporate creditors and investors, and the Financial Accounting Standards Board

Generalized Knudsen number for unsteady fluid flow

We explore the scaling behavior of an unsteady flow that is generated by an oscillating body of finite size in a gas. If the gas is gradually rarefied, the Navier-Stokes equations begin to fail and a kinetic description of the flow becomes more appropriate. The failure of the Navier-Stokes equations can be thought to take place via two different physical mechanisms: either the continuum hypothesis breaks down as a result of a finite size effect or local equilibrium is violated due to the high rate of strain. By independently tuning the relevant linear dimension and the frequency of the oscillating body, we can experimentally observe these two different physical mechanisms. All the experimental data, however, can be collapsed using a single dimensionless scaling parameter that combines the relevant linear dimension and the frequency of the body. This proposed Knudsen number for an unsteady flow is rooted in a fundamental symmetry principle, namely, Galilean invariance

Tokin Up in the 5280: Insight Into How Denver Police Officers Make Sense of, and Define, Interpret, and React to the Legalization of Marijuana

Laws surrounding the possession, use, and distribution of marijuana have undergone many changes for over a century. Political pressures and social prejudices have most often been the cause of these changes, rather than scientific research or rational thinking. As a result, the law has sometimes lagged behind social practice as in the current case in much of the U.S., including Colorado. In such an environment, it often falls on a police officer\u27s definition, interpretation, and reaction to the laws to determine the extent to which certain laws and sanctions are enforced. Drawing on the work of Weick (1976), this dissertation utilizes the theoretical framework of sensemaking to examine two research questions. First, what sense are police officers in Colorado making of new legalization of marijuana laws? Second, how are officers defining, interpreting, and reacting to marijuana laws in Colorado? Semi-structured interviews were conducted with 22 Denver police officers. Findings suggest that the lack of bright line policies regarding marijuana enforcement play a role in officers making sense of the law in different ways. Officers\u27 definition and interpretation of marijuana law seems to be founded upon their experiences, as well as the experiences of their peers. Several unintentional consequences of marijuana legalization were identified by officers, and appear to play a substantial role in the sensemaking process. Theoretically, this research contends that the four key components of sensemaking (Weick 1976) (i.e., social process, ongoing process, reliant on extracted cues, and based off of plausibility rather than accuracy) are interwoven with the aspects of defining, interpreting, and reacting to laws. As such, a call exists for the elaboration or construction of a theory combining the intertwined elements of defining, interpreting, and reacting to organizational change with the interwoven elements of sensemaking. Findings suggest several policy implications. The call for Colorado and all states that are considering legalization for recreational purposes is to create bright line policies in an effort to reduce confusion among officers. The construction of such policies will reduce the grey area in which officers operate thereby ensuring that users are treated fairly across all jurisdictions and states

The impact of the COVID-19 pandemic on primary school students’ mathematical reasoning skills: a mediation analysis

The present research aimed to reveal how the COVID-19 pandemic influenced the mathematical reasoning of primary school students through mediation analysis. It was designed as ex post facto research. The research sample consisted of two cohorts. Cohort 1 included 415 primary school children who received face-to-face instruction by attending school for six months until COVID-19 emerged. Cohort 2 included 964 children who were taught curricular skills through distance education due to COVID-19 and school closures. In total, 1,379 primary school children were recruited into the research sample. Data were collected through a mathematical reasoning test by sending items from the instrument via Google Docs. The data were analysed with mediation analysis. Results demonstrated that the school closures due to the COVID-19 pandemic negatively influenced mathematical reasoning skills. Findings are discussed in the light of human interaction and Cattell’s intelligence theory