Reported Profits And Effective Tax Rate Following Accounting Standards Changes Analysis Of Consolidated Financial Statements And Separate Financial Statements

This study empirically examines how the adoption of IFRS affected the reported profits and effective tax rates of firms by analyzing consolidated financial statements and separate financial statements. Firms that adopted IFRS in 2011 were required to disclose consolidated financial statements and separate financial statements in both K-IFRS and K-GAAP for this period. We conjecture that there will be a difference in the reported profits and effective tax rates between the financial statements that adopt the two different accounting standards. This study will provide policy implications with regards to the recent IFRS adoption and the use of accounting standards. The findings of this study are as follows. First, we find that the effective tax rate and corporate tax expenses decreased after the adoption of K-IFRS from K-GAAP. Earnings Before Tax (EBT) and net income also decreased when reported in K-IFRS. When we divide the total sample into the listed firms and KOSDAQ firms, we found a significant difference between the accounting standards in the total sample and listed firms, but did not see such a difference in KOSDAQ firms. In addition, results from the analysis of separate financial statements were analogous to those from consolidated financial statements. Additional analyses examined the effect of the early adoption of IFRS, but a significant influence due to early adoption was not found in consolidated financial statements from both parametric and non-parametric tests. However, the effective tax rate did decrease in the separate financial statements of firms that adopted K-IFRS earlier. The implementation of K-IFRS (changes in accounting standards) has made the managerial performance of firms accounted for in the Equity Method to be reflected in EBT and net income. This entailed an increase (or decrease) in the Equity Method profit, which in turn increased reported profits and decreased effective tax rates. In other words, the total increase of reported profits in consolidated financial statements can be attributed to subsidiary companies. However, the adoption of IFRS also reduced the tax burden, which is considered to be the motivation for firms to adopt IFRS in advance. This article attempts to provide policy implications with regards to the adoption of new accounting standards and its influence on the corporate tax expenses and effective tax rates in listed firms and KOSDAQ firms. &nbsp

The Study On The Effect And Determinants Of Small - And Medium-Sized Entities Conducting Tax Avoidance

SME often lack the capacity to keep transparency in management due to a small number of information users. Thus, the adoption of K-IFRS can be burdensome to numerous SME, which led to the enactment of Accounting Standards for Small- and Medium-sized Entities (AS-SME). AS-SME allows the accountants to easily implement accounting rules when writing financial statements and the users to comprehend useful information. SME hold less tax burden since they receive a tax deduction and exemption from the Tax Act. Thus, we conjecture that the financial determinants of tax avoidance between SME and non-SME will differ. We divide the total sample according to the corporate tax avoidance and empirically examine whether the difference actually exists. Our sample consists 18,954 audited firms including those external audited from 2011 to 2013. This study implements BTD, the difference between accounting profit and taxable income and estimated corporate tax avoidance (TS), which is the part that cannot be explained by total accruals in BTD to proxy for tax avoidance. (Desai and Dharmapala 2006). We summarize our findings as below: there is a significant distinction between SME and non-SME regarding the related financial determinants. The result shows that firm size (SIZE), profitability (ROA), leverage (LEV), operating cash flow(CFO), capital intensity (PPE), R&D intensity (RNDS), and growth rate (GS) all influence the corporate tax avoidance of SME. Our result also suggests that there is variation in the determinants among the SME with high corporate tax avoidance. The attempt to investigate the financial determinants of the tax avoidance in SME can be a barometer of the effectiveness of AS-SME, which is enacted to lessen the tax burden of the SME. We intend to provide policy implication regarding SME subsidy by examining the motive for corporate tax avoidance in SME

Development of Financial Support Program for High Risk Pregnant Women

AbstractObjectivesThe purpose of this study was to develop a financial support program for high-risk pregnant women based on opinions obtained using a questionnaire survey.MethodsThe program development involved two steps: (1) developing a questionnaire through reviewing previous financial support programs for maternal care and then validating it via professional consultation; and (2) drafting a financial support program. Sixty professionals, 26 high-risk pregnant women, and 100 program implementers completed the questionnaire between August 2014 and October 2014.ResultsBased on the obtained professional consultation and survey investigation, the framework of the financial support program was constructed. The suggested recipients were mothers with early labor pains, mothers who have been hospitalized for > 3 weeks, and mothers who used uterine stimulant Pitocin during hospitalization. All hospitalization, medication, and examination costs needed to be supported considering the income level of the recipient.ConclusionA basic policy for financially supporting high-risk pregnant women has been developed. The efficacy and feasibility of the policy needs to be carefully examined in future studies

Working memory, selective visual attention and hierarchical perception

Previous research has shown that stimuli held in working memory can guide spatial allocation of attention, even when the stimuli are irrelevant to a subsequent search task. Responses are speeded when the content in working memory matches a target, and are slowed when the content matches a distractor (Downing, 2000; Soto, Heinke, Humphreys, & Blanco, 2005). The relevant literature reflects on whether or not this top-down process of attentional capture from working memory is an automatic mechanism where attention gets deployed without a need for voluntary effort, and on the neural process of this endogenous control working in conjunction with bottom-up exogenous factor. So far there have not been any explorations into how the working memory might influence non-spatial selection of attentional selection, whilst also testing for the automaticity of working memory. Using Navon stimuli, I explored if and how various types of items held in working memory affect the perception of visual targets non-spatially, at local and global levels in compound letters. The data show that information in working memory biases the selection of hierarchical forms whilst priming does not, that irrelevant part of memory item also influences attentional selection, that the specific type of attentional mode (distributed vs. focused) plays an important role in selection, and that it is not easy to eradicate the top-down working memory effect.EThOS - Electronic Theses Online ServiceGBUnited Kingdo

The Effect Of Brand Experience Provider On Brand Experience: Focus On Korean Cosmetic Brand Shop

This present research distinguishes brand experience providers of cosmetic companies that include three elements: Brand identity elements of cosmetic brand shops (feminine and environmental-friendly brand identity); Marketing mix elements (level of iconic product, level of steady-seller product, reasonable pricing, convenience of location, quality of additional service); Cosmetic brand store elements (effective product assortment, atmosphere of a store, availability of testers, proficiency of consultants). This paper aims to explore these elements and the effect of brand experience provider on all brand experience dimensions; sensory, affective, intellectual, and behavioral experience. After the review of extant studies, we propose 11 hypotheses. Based on the collected 295 consumers of experienced cosmetic brand shop, the proposed model is testified with the SPSS 15.0 and AMOS 7.0 is supported. According to the result of empirical analysis, it turns out that, in terms of characteristics of brand experiential provider, 'feminine brand identity', 'iconic product', 'steady seller product', 'convenient location', 'additional service quality', 'assortment', 'atmosphere', 'self-tester', and 'consultant' affected the customers' holistic brand experience of cosmetic brand shop. However, 'environmental-friendly brand identity', 'reasonable price' results to have no influence on the holistic brand experience of brand of cosmetic brand shop. The study produced a theoretical implication on brand experience that it empirically approached to factors of brand experiential provider on holistic brand experience of store. The earlier studies were at best conceptual analysis or they mainly dealt with in-store factor, whereas this paper divides factors that affect the customer's overall experience into 'brand identity', 'marketing mix strategy', and 'physical environment of in-store'

Use of Blended Learning for Effective Implementation of English-medium Instruction in a Non-English Higher Education Context

Although researchers agree with the strengths of an English-medium instruction (EMI) in addressing internationalization of a non-English higher education (HE) context, its implementation in classrooms has been widely criticized, mostly because of ineffective delivery of course content and a lack of evidence of English improvement. Grounded upon a critical review of the current state of internationalization of Korean HE and the subsequent examination of supplementary interview data from 15 college students who have taken EMI courses, this study proposes a model which integrates critical factors of EMI into one framework. This model aims at guiding the EMI policy from initiation to implementation. A major feature of this model is blended learning as a strategy to address the shortcomings of current EMI in this context and to facilitate the allocation of diverse online materials to scaffold EMI instruction. The benefits of the approach are presented from the perspectives both of policy-makers and of classroom participants.clos

Camera for QUasars in EArly uNiverse (CQUEAN)

We describe the overall characteristics and the performance of an optical CCD camera system, Camera for QUasars in EArly uNiverse (CQUEAN), which is being used at the 2.1 m Otto Struve Telescope of the McDonald Observatory since 2010 August. CQUEAN was developed for follow-up imaging observations of red sources such as high redshift quasar candidates (z >= 5), Gamma Ray Bursts, brown dwarfs, and young stellar objects. For efficient observations of the red objects, CQUEAN has a science camera with a deep depletion CCD chip which boasts a higher quantum efficiency at 0.7 - 1.1 um than conventional CCD chips. The camera was developed in a short time scale (~ one year), and has been working reliably. By employing an auto-guiding system and a focal reducer to enhance the field of view on the classical Cassegrain focus, we achieve a stable guiding in 20 minute exposures, an imaging quality with FWHM >= 0.6" over the whole field (4.8' * 4.8'), and a limiting magnitude of z = 23.4 AB mag at 5-sigma with one hour total integration time.Comment: Accepted for publication in PASP. 26 pages including 5 tables and 24 figure

Clinical effect of IRT-5 probiotics on immune modulation of autoimmunity or alloimmunity in the eye

Background: Although the relation of the gut microbiota to a development of autoimmune and inflammatory diseases has been investigated in various animal models, there are limited studies that evaluate the effect of probiotics in the autoimmune eye disease. Therefore, we aimed to investigate the effect of IRT-5 probiotics consisting of Lactobacillus casei, Lactobacillus acidophilus, Lactobacillus reuteri, Bifidobacterium bifidum, and Streptococcus thermophilus on the autoimmunity of uveitis and dry eye and alloimmunity of corneal transplantation. Methods: Experimental autoimmune uveitis was induced by subcutaneous immunization with interphotoreceptor-binding protein and intraperitoneal injection of pertussis toxin in C57BL/6 (B6) mice. For an autoimmune dry eye model, 12-weeks-old NOD.B10.H2b mice were used. Donor cornea of B6 mice was transplanted into BALB/C mice. IRT-5 probiotics or phosphate buffered saline (PBS) were administered for three weeks immediately after induction of uveitis or transplantation. The inflammation score of the retinal tissues, dry eye manifestations (corneal staining and tear secretion), and graft survival were measured in each model. The changes of T cells were evaluated in drainage lymph nodes using fluorescence-activated cell sorting. Results: Retinal histology score in IRT-5 group of uveitis was lower than that in PBS group (p = 0.045). Ocular staining score was lower (p < 0.0001) and tear secretion was higher (p < 0.0001) in the IRT-5 group of NOD.B10.H2b mice than that in the PBS group. However, the graft survival in the IRT-5 group was not different from those of PBS group. The percentage of regulatory T cells was increased in the IRT-5-treated dry eye models (p = 0.032). The percentage of CD8+IL-17hi (p = 0.027) and CD8+ interferon gamma (IFN��)hi cells (p = 0.022) were significantly decreased in the IRT-5-treated uveitis models and the percentage of CD8+IFN��hi cells was markedly reduced (p = 0.036) in IRT-5-treated dry eye model. Conclusion: Our results suggest that administration of IRT-5 probiotics may modulate clinical manifestations of autoimmunity in the eye, but not on alloimmunity of corneal transplantation. ? 2017 by the authors.112Nsciescopu

Dissociation of Progressive Dopaminergic Neuronal Death and Behavioral Impairments by Bax Deletion in a Mouse Model of Parkinson's Diseases

Parkinson's disease (PD) is a common, late-onset movement disorder with selective degeneration of dopaminergic (DA) neurons in the substantia nigra (SN). Although the neurotoxin 6-hydroxydopamine (6-OHDA) has been used to induce progressive degeneration of DA neurons in various animal models of PD, the precise molecular pathway and the impact of anti-apoptotic treatment on this neurodegeneration are less understood. Following a striatal injection of 6-OHDA, we observed atrophy and progressive death of DA neurons in wild-type mice. These degenerating DA neurons never exhibited signs of apoptosis (i.e., caspase-3 activation and cytoplasmic release of cytochrome C), but rather show nuclear translocation of apoptosis-inducing factor (AIF), a hallmark of regulated necrosis. However, mice with genetic deletion of the proapoptotic gene Bax (Bax-KO) exhibited a complete absence of 6-OHDA-induced DA neuron death and nuclear translocation of AIF, indicating that 6-OHDA-induced DA neuronal death is mediated by Bax-dependent AIF activation. On the other hand, DA neurons that survived in Bax-KO mice exhibited marked neuronal atrophy, without significant improvement of PD-related behavioral deficits. These findings suggest that anti-apoptotic therapy may not be sufficient for PD treatment, and the prevention of Bax-independent neuronal atrophy may be an important therapeutic target