Information consequences of accounting conservatism

We study the information consequences of conservatism in accounting. Prior research shows that information asymmetries in capital markets lead to firm-level increases in conservatism. In this paper, we further argue that increases in conservatism improve the firm information environment and lead to subsequent decreases in information asymmetries between firm insiders and outsiders. We predict and test if this decrease in information asymmetries manifests itself through: (a) a decrease in the bid-ask spread and in stock-returns volatility, and (b) an improved information environment for financial analysts, leading to more precise and less dispersed forecasts, and to more analysts following the firm. Using a large US sample for the period 1977-2007 and several proxies for conservatism we find robust evidence consistent with our expectations. Our results are in line with conservatism being useful not only for debt-holders, but also for equity-holders.We acknowledge financial assistance from the Spanish Ministry of Education and Science (ECO2010–19314, ECO2008–06238/ECON and SEJ2007-67582/ECON), the ICJCE/AT1 UAM-Auditores Madrid Chair, IESE Research Division, the Government of Comunidad de Madrid (Grant CCG10-UC3M/HUM-4760) and the AECA Chair in Accounting and Auditing

Combined use of relative drought indices to analyze climate change impact on meteorological and hydrological droughts in a Mediterranean basin

[EN] Standardized drought indices have been traditionally used to identify and assess droughts because of their simplicity and flexibility to compare the departure from normal conditions across regions at different timescales. Nevertheless, the statistical foundation of these indices assumes stationarity for certain aspects of the climatic variables, which could no longer be valid under climate change. This contribution provides a framework to analyze the impact of climate change on meteorological and hydrological droughts, considering shifts in precipitation and temperature, adapted to a Mediterranean basin. For this purpose, droughts are characterized through a combination of relative standardized indices: Standardized Precipitation Index (rSPI), Standardized Precipitation Evapotranspiration Index (rSPEI) and a Standardized Flow Index (rSFI). The uncertainty and the stationarity of the distribution parameters used to compute the drought indices are assessed by bootstrapping resampling techniques and overlapping coefficients. For the application of the approach to a semiarid Mediterranean basin (Jucar River Basin), the Thornthwaite scheme was modified to improve the representation of the intra-annual variation of the potential evapotranspiration and low flow simulation in hydrological modelling was improved for a better characterization of hydrological droughts. Results for the Jucar basin show a general increase in the intensity and magnitude of both meteorological and hydrological droughts under climate change scenarios, due to the combined effects of rainfall reduction and evapotranspiration increase. Although the indicators show similar values for the historical period, under climate change scenarios the rSPI could underestimate the severity of meteorological droughts by ignoring the role of temperature. (C) 2017 Elsevier B.V. All rights reserved.This study has been supported by the IMPADAPT project (CGL2013-48424-C2-1-R) with Spanish MINECO (Ministerio de Economia y Competitividad) and European FEDER funds. Patricia Marcos-Garcia is also supported by a FPI grant from the PhD Training Program (BES-2014-070490) of the former MINECO. The authors thank AEMET (Spanish Meteorological Office) and University of Cantabria for the data provided for this work (dataset Spain02).Marcos-García, P.; Lopez-Nicolas, A.; Pulido-Velazquez, M. (2017). Combined use of relative drought indices to analyze climate change impact on meteorological and hydrological droughts in a Mediterranean basin. Journal of Hydrology. 554:292-305. https://doi.org/10.1016/j.jhydrol.2017.09.028S29230555

Usability, acceptability, and feasibility of two technology-based devices for mental health screening in perinatal care: A comparison of web versus app

The use of Information and Communication Technologies (web pages and apps) in mental health has boosted. However, it is unknown which of these two devices can be better in terms of feasibility and acceptability. Our aim is to compare the feasibility, usability, and user satisfaction of two devices (web vs mobile application) of an online program for perinatal depression screening called HappyMom. In total, 348 and 175 perinatal women registered into HappyMom web and app version, respectively. The assessment protocol included different biopsychosocial evaluations (twice during pregnancy and thrice in the postpartum) and a satisfaction questionnaire. Results showed that a higher percentage of women in the web sample (27.3–51.1%) responded to each assessment compared to the app sample (9.1–53.1%). A smaller proportion of women in web sample never responded to any assessments. By contrast, the percentage of women who responded to all assessments was higher in app sample (longitudinal retention sample was 4.6% of web users and 9.1% of app users). In general, high satisfaction was found in both web and app users. Our result showed that online assessment methods are feasible and acceptable by perinatal women. However, dropout rates are a real problem that urge a solution that will be discussed further in the paper. Web and App devices present different advantages and limitations. The choice of one of them must be made taking into account the study’s objective, the sample characteristics, and the dissemination possibilities

Tratamientos Psicológicos Empíricamente Apoyados Para Adultos: Una Revisión Selectiva [Evidence-Based Psychological Treatments for Adults: A Selective Review]

Antecedentes: los tratamientos psicológicos han mostrado su efi cacia, efectividad y efi ciencia para el abordaje de los trastornos mentales; no obstante, considerando el conocimiento científi co generado en los últimos años, no se dispone de trabajos de actualización en español sobre cuáles son los tratamientos psicológicos con respaldo empírico. El objetivo fue realizar una revisión selectiva de los principales tratamientos psicológicos empíricamente apoyados para el abordaje de trastornos mentales en personas adultas. Método: se recogen niveles de evidencia y grados de recomendación en función de los criterios propuestos por el Sistema Nacional de Salud de España (en las Guías de Práctica Clínica) para diferentes trastornos psicológicos. Resultados: los resultados sugieren que los tratamientos psicológicos disponen de apoyo empírico para el abordaje de un amplio elenco de trastornos psicológicos. El grado de apoyo empírico oscila de bajo a alto en función del trastorno psicológico analizado. La revisión sugiere que ciertos campos de intervención necesitan una mayor investigación. Conclusiones: a partir de esta revisión selectiva, los profesionales de la psicología podrán disponer de información rigurosa y actualizada que les permita tomar decisiones informadas a la hora de implementar aquellos procedimientos psicoterapéuticos empíricamente fundamentados en función de las características de las personas que demandan ayuda. // Evidence-Based Psychological Treatments for Adults: A Selective Review. Background: Psychological treatments have shown their effi cacy, effectiveness, and effi ciency in dealing with mental disorders. However, considering the scientifi c knowledge generated in recent years, in the Spanish context, there are no updating studies about empirically supported psychological treatments. The main goal was to carry out a selective review of the main empirically supported psychological treatments for mental disorders in adults. Method: Levels of evidence and degrees of recommendation were collected based on the criteria proposed by the Spanish National Health System (Clinical Practice Guidelines) for different psychological disorders. Results: The results indicate that psychological treatments have empirical support for the approach to a wide range of psychological disorders. These levels of empirical evidence gathered range from low to high depending on the psychological disorder analysed. The review indicates the existence of certain fi elds of intervention that need further investigation. Conclusions: Based on this selective review, psychology professionals will be able to have rigorous, up-to-date information that allows them to make informed decisions when implementing empirically based psychotherapeutic procedures based on the characteristics of the people who require help

Cobalt (II) ions and nanoparticles induce macrophage retention by ROS-mediated down-regulation of RhoA expression

The authors are grateful to the China Scholarship Council (CSC) for the support of Jing Xu

Simulation Model for End-to-end QoS across Heterogeneous Networks

This paper describes a simulation model, developed within the framework of the EuQoS project, which is aimed at assessing QoS on an end-to-end basis, across heterogeneous networks. In that respect, it discusses modelling issues related to access network technologies, to the core network, and to traffic generation. Furthermore, the implementation of the simulator within the ns-2 framework is described, and preliminary simulation results are reported, showing how the lack of QoS mechanisms in one segment of the network negatively affects the overall performance