The Value Relevance of Dirty Surplus Accounting Flows in the Netherlands

Recently the Dutch financial reporting standard setters have taken steps to make dirty surplus accounting flows more visible to parties outside firms, either by eliminating their possibility or by requiring comprehensive income type statements. These steps are presumably based on the idea that dirty surplus accounting flows are value relevant to investors and hence have to be visible to them. Whether dirty surplus accounting flows are indeed value relevant is an empirical issue. This paper therefore explores both incremental and relative value relevance of various dirty surplus accounting flows for Dutch listed firms. We find evidence that dirty surplus goodwill write-offs in particular are relevant in explaining returns and that the clean surplus earnings perform better than the reported earnings over 1-year intervals. Taken together, these 1-year interval empirical results indeed imply that the Dutch managers in the period considered wrote-off value relevant information via dirty surplus accounting flows. Over longerterm intervals, dirty surplus items are not or negatively related to returns and reported income becomes more value relevant than clean surplus income.accounting;incomes;value relevance;Netherlands

Critical Field of MGB2 : Crossover from Clean to Dirty Regimes

We have studied the upper critical field, Bc2, in poly-crystalline MgB2 samples in which disorder was varied in a controlled way to carry selectively p and s bands from clean to dirty limit. We have found that the clean regime survives when p bands are dirty and s bands are midway between clean and dirty. In this framework we can explain the anomalous behaviour of Al doped samples, in which Bc2 decreases as doping increases.Comment: 11 pages, 2 figure

The exercise of moral imagination in stigmatized work groups.

This study introduces the concept of moral imagination in a work context to provide an ethical approach to the controversial relationships between dirty work and dirty workers. Moral imagination is assessed as an essential faculty to overcome the stigma associated with dirty work and facilitate the daily work lives of workers. The exercise of moral imagination helps dirty workers to face the moral conflicts inherent in their tasks and to build a personal stance toward their occupation. Finally, we argue that organizations with dirty work groups should actively adopt measures to encourage their employees’ exercise of moral imagination. This study investigates how organizations might create conditions that inspire moral imagination, particularly with regard to the importance of organizational culture as a means to enhance workers’ moral sensitivity. Furthermore, this investigation analyzes different company practices that may derive from a culture committed to moral imagination.Moral imagination; Dirty work; Moral conflicts; Stigma; Work groups;

Drones and Dirty Hands

The period known as the “War on Terror” has prompted a revival of interest in the idea of moral dilemmas and the problem of “dirty hands” in public life. Some contend that a policy of targeted killing of terrorist actors is (under specified but not uncommon circumstances) an instance of a dirty-handed moral dilemma – morally required yet morally forbidden, the least evil choice available in the circumstances, but one that nevertheless leaves an indelible moral stain on the character of the person who makes the choice. In this chapter we argue that, while dirty hands situations do exist as a persistent problem of political life, it is generally a mistake to classify policies of target killing (such as the current US policy) as examples of dirty hands. Instead, we maintain, such policies, if justified at all, must ordinarily be justified under the more exacting standards of just war theory and its provisions for justified killing – in particular the requirement that (with limited and defined exceptions) non-combatants be immune from intentional violence. Understanding this distinction both clarifies the significance of dirty hands as a moral phenomenon and also forestalls a set of predictable and all-too-easy appropriations of the concept to domains it was never intended to address

Scaling of the superfluid density in high-temperature superconductors

A scaling relation \rho_s \simeq 35\sigma_{dc}T_c has been observed in the copper-oxide superconductors, where \rho_s is the strength of the superconducting condensate, T_c is the critical temperature, and \sigma_{dc} is the normal-state dc conductivity close to T_c. This scaling relation is examined within the context of a clean and dirty-limit BCS superconductor. These limits are well established for an isotropic BCS gap 2\Delta and a normal-state scattering rate 1/\tau; in the clean limit 1/\tau \ll 2\Delta, and in the dirty limit 1/\tau > 2\Delta. The dirty limit may also be defined operationally as the regime where \rho_s varies with 1/\tau. It is shown that the scaling relation \rho_s \propto \sigma_{dc}T_c is the hallmark of a BCS system in the dirty-limit. While the gap in the copper-oxide superconductors is considered to be d-wave with nodes and a gap maximum \Delta_0, if 1/\tau > 2\Delta_0 then the dirty-limit case is preserved. The scaling relation implies that the copper-oxide superconductors are likely to be in the dirty limit, and that as a result the energy scale associated with the formation of the condensate is scaling linearly with T_c. The a-b planes and the c axis also follow the same scaling relation. It is observed that the scaling behavior for the dirty limit and the Josephson effect (assuming a BCS formalism) are essentially identical, suggesting that in some regime these two effects may be viewed as equivalent. This raises the possibility that electronic inhomogeneities in the copper-oxygen planes may play an important role in the nature of the superconductivity in the copper-oxide materials.Comment: 8 pages with 5 figures and 1 tabl

Clean and Dirty Superconductivity in Pure, Al doped, and Neutron Irradiated MgB2: a Far-Infrared Study

The effects of Al substitution and neutron irradiation on the conduction regime (clean or dirty) of the $\pi$- and $\sigma$-band of MgB$_{2}$ have been investigated by means of far-infrared spectroscopy. The intensity reflected by well characterized polycrystalline samples was measured up to 100 cm$^{- 1}$ in both normal and superconducting state. The analysis of the superconducting to normal reflectivity ratios shows that only the effect of the opening of the small gap in the dirty $\pi$-band can be clearly observed in pure MgB$_{2}$, consistently with previous results. In Al-doped samples the dirty character of the $\pi$-band is increased, while no definitive conclusion on the conduction regime of the $\sigma$-band can be drawn. On the contrary, results obtained for the irradiated sample show that the irradiation-induced disorder drives the $\sigma$-band in the dirty regime, making the large gap in $\sigma$-band observable for the first time in far-infrared measurements.Comment: 11 pages, 1 figur

Trade and the Environment in Latin America: Examining the Linkage with the USA

This paper investigates how trade of "dirty" goods with the USA can affect the environmental pollution in Latin American (LA). By controlling for trade openness, the share of manufacturing in GDP, and the trade of pollution-intensive products with USA, CO2 emissions are estimated for 14 LA countries between 1986 and 1999. Our results show that increasing exports of "dirty" products to the USA tends to raise CO2 emissions in LA countries, while the opposite results occur for growing imports of those goods from the USA. Since the effect of "dirty" imports from the USA is larger than the effect of "dirty" exports to the USA, our results indicate that the trade of "dirty" products with the USA on the whole reduces CO2 emissions in LA countries during the estimation period.Trade Pollution Environmental Kuznets curves Inter-American relationship

Taxing pollution: agglomeration and welfare consequences

This paper demonstrates that a pollution tax with a fixed cost component may lead, by itself, to segregation between clean and dirty firms without heterogeneous preferences or increasing returns. We construct a simple model with two locations and two industries (clean and dirty) where pollution is a by-product of dirty good manufacturing. Under proper assumptions, a completely stratified configuration with all dirty firms clustering in one city emerges as the only equilibrium outcome when there is a fixed cost component of the pollution tax. Moreover, a stratified Pareto optimum can never be supported by a competitive spatial equilibrium with a linear pollution tax. To support such a stratified Pareto optimum, however, an effective but unconventional policy prescription is to redistribute the pollution tax revenue from the dirty to the clean city residents.Pollution Tax; Agglomeration of Polluting Producers; Endogenous Stratification