4,149 research outputs found
The role of financial reporting in reducing financial risks in the market
Accounting ; Financial markets ; Financial crises ; Transparency
Testing surface area with arbitrary accuracy
Recently, Kothari et al.\ gave an algorithm for testing the surface area of
an arbitrary set . Specifically, they gave a randomized
algorithm such that if 's surface area is less than then the algorithm
will accept with high probability, and if the algorithm accepts with high
probability then there is some perturbation of with surface area at most
. Here, is a dimension-dependent constant which is
strictly larger than 1 if , and grows to as .
We give an improved analysis of Kothari et al.'s algorithm. In doing so, we
replace the constant with for arbitrary. We
also extend the algorithm to more general measures on Riemannian manifolds.Comment: 5 page
Econometrics of the Basu Asymmetric Timeliness Coefficient and Accounting Conservatism
A substantial literature investigates conditional conservatism, defined as asymmetric accounting recognition of economic shocks (“news”), and how it depends on various market, political, and institutional variables. Studies typically assume the Basu [1997] asymmetric timeliness coefficient (the incremental slope on negative returns in a piecewise-linear regression of accounting income on stock returns) is a valid conditional conservatism measure. We analyze the measure's validity, in the context of a model with accounting income incorporating different types of information with different lags, and with noise. We demonstrate that the asymmetric timeliness coefficient varies with firm characteristics affecting their information environments, such as the length of the firm's operating and investment cycles, and its degree of diversification. We particularly examine one characteristic, the extent to which “unbooked” information (such as revised expectations about rents and growth options) is independent of other information, and discuss the conditions under which a proxy for this characteristic is the market-to-book ratio. We also conclude that much criticism of the Basu regression misconstrues researchers’ objectives
A bi-directional charged particle telescope to observe flux, energy spectrum and angular distribution of relativistic and non-relativistic particles
A Charged Particle Telescope (CPT) was designed, fabricated and calibrated to make the following observations: (1) discrimination between various singly charged particles, e.g., electrons, muons and protons, in about 5 to 100 MeV energy range; (2) measurement of the flux and the energy of the charged particles incident to the telescope from two opposite directions and stopping in the telescope, thus obtaining flux and energy spectrum of downward and upward moving charged particles; and (3) measurement of the broad angular distribution of selected particles as a function of azimuthal angle. This telescope can be used to study low energy electron, muon and proton energy spectra. The experiment was flown in a high altitude balloon from Hyderabad, India, in December 1984. This same equipment is also useful in ground level electron, muon spectrum study
Cross-Border Financing by the Industrial Sector Increases Competition in the Domestic Banking Sector
We predict that access to cross-border financing by the industrial sector reduces firms' reliance on domestic banks, thereby leading to lower rents for banks and greater competition in the domestic banking sector. We also predict that banks take on more risk to offset these lost rents and remain competitive. Using mandatory adoption of International Financial Reporting Standards (IFRS) to identify variation in cross-border financing, we find evidence consistent with our hypotheses. Additional tests verify that the effects emanate from the demand side (i.e., firms not relying on banks) rather than the supply side (i.e., banks not willing to lend to firms). Overall, we document how competition from overseas financial markets influences the domestic banking sector
Adaline-based control of capacitor supported DVR for distribution system
In this paper, a new control algorithm for the dynamic voltage restorer (DVR) is proposed to regulate the load terminal voltage during various power quality problems that include sag, swell, harmonics and unbalance in the voltage at the point of common coupling (PCC). The proposed control strategy is an Adaline (Adaptive linear element) Artificial Neural Network (ANN) and is used to control a capacitor supported DVR for power quality improvement. A capacitor supported DVR does not need any active power during steady state because the voltage injected is in quadrature with the feeder current. The control of the DVR is implemented through derived reference load terminal voltages. The proposed control strategy is validated through extensive simulation studies using the MATLAB software with its Simulink and SimPower System (SPS) toolboxes. The DVR is found suitable to support its dc bus voltage through the control under various disturbances
Upregulated wnt-11 and mir-21 expression trigger epithelial mesenchymal transition in aggressive prostate cancer cells
Prostate cancer (PCa) is the second-leading cause of cancer-related death among men. microRNAs have been identified as having potential roles in tumorigenesis. An oncomir, miR-21, is commonly highly upregulated in many cancers, including PCa, and showed correlation with the Wnt-signaling axis to increase invasion. Wnt-11 is a developmentally regulated gene and has been found to be upregulated in PCa, but its mechanism is unknown. The present study aimed to investigate the roles of miR-21 and Wnt-11 in PCa in vivo and in vitro. First, different Gleason score PCa tissue samples were used; both miR-21 and Wnt-11 expressions correlate with high Gleason scores in PCa patient tissues. This data then was confirmed with formalin-fixed paraffin cell blocks using PCa cell lines LNCaP and PC3. Cell survival and colony formation studies proved that miR-21 involves in cells’ behaviors, as well as the epithelial-mesenchymal transition. Consistent with the previous data, silencing miR-21 led to significant inhibition of cellular invasiveness. Overall, these results suggest that miR-21 plays a significant role related to Wnt-11 in the pathophysiology of PCa
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