summarized from wachtel et al 2005 pp 347 354

... promoting audit quality Following Myers et al (2003) and Johnson et al (2002), we first use two accrualbased proxies for audit quality: abnormal accruals and abnormal working capital accruals We find ... Growth potential, Growth, calculated as the sum of market value of equity and book value of total debt divided by book value of total assets, all measured at the end of the first half of year t; ... prediction and Myers et al (2003) 4.1.3 Empirical Findings Based on Abnormal Working Capital Accruals We also use abnormal working capital accruals (AWCA) as a second proxy for audit quality and re-estimate...

Ngày tải lên: 06/01/2015, 19:41

... defined above, DSALESi;t is change in sales scaled by lagged total assets (ASSETSi,tÀ1), and PPEi,t is net property, plant and equipment scaled by ASSETSi,tÀ1 Discretionary accruals from the modified-Jones ... Data14Þ=lagged Data6Š; DSALESi;t is change in sales scaled by lagged total assets (ASSETSi,tÀ1), and PPEi,t is net property, plant and equipment scaled by ASSETSi,tÀ1 Discretionary accruals from the Jones ... lagged Data6] DSALESi;t is change in sales scaled by lagged total assets (ASSETSi,tÀ1), and PPEi,t is net property, plant and equipment scaled by ASSETSi,tÀ1 Discretionary accruals from the Jones...

Ngày tải lên: 02/01/2015, 17:34

... of earnings management (Dhaliwal et al. , 1982; and Warfield et al. , 1995) Also, there is evidence in both the US and the UK of a negative association between managerial share ownership and both ... et al 1995) Both methods involve estimating parameters for normal accrual activity by regressing a measure of accounting accruals on proxies for normal business activity These estimated normal ... have generally defined total operating accruals as working capital accruals plus a key long-term accrual, depreciation We ignore the long-term component of total accruals, for several reasons...

Ngày tải lên: 02/01/2015, 17:34

... Jiambalvo, 1994; Becker et al. , 1998; Bartov et al. , 2000) Under this model, the level of discretionary accruals for a particular firm is calculated as the difference between the firm’s total accruals ... predicted level of non-discretionary accruals (NDAC) from total accruals, as calculated under the cash-flow approach (standardized by lagged total assets) TAC ijt = total accruals for firm i in industry ... net income between t and t − divided by total assets SIZE (firm size) = natural log of total assets MKT (market to book ratio) = the market value of shareholders’ equity divided by the book value...

Ngày tải lên: 02/01/2015, 17:34

... asymmetry at the time of the IPO Balvers et al (1998) and Hogan (1997) find that big five auditors are associated with lower under-pricing of the offering Balvers et al (1998) argue that a high quality ... of total accruals is used as a control variable because Becker et al (1998) provide evidence that this is significantly negatively related to unexpected accruals Also MAJ 20,1 94 Francis et al (1999) ... Teoh et al (1998b) find that managers use unexpected accruals opportunistically in the IPO process Managers may try to signal the firm’s future prospects through unexpected accruals The log of sales...

Ngày tải lên: 06/01/2015, 19:41

Ngày tải lên: 06/01/2015, 19:41

... natural logarithm of total assets (#6); decile rank of absolute value of residual from regression of annual returns on annual earnings (#18), changes in annual earnings, both scaled by total assets ... performance matched discretionary accruals per the modified Jones [1991] model scaled by ending total assets LEVERAGE equals total debt divided by total assets BLOCK is equal to one if an outside ... distinction between our analysis and Myers et al. ’s (2003) is that we performance adjust discretionary accruals (our dependent variable), whereas Myers et al (2003) does not Given our much smaller sample...

Ngày tải lên: 06/01/2015, 19:41

... Audit costs 0 1 2 Audit market competition 0 1 2 Capital market reaction 0 3 Total 16 24 30 Total 24 Note: The total of the empirical studies (24) is different from the total shown in this figure ... bankruptcies was collected from the yearly publication “Bankruptcy Almanac”, relating to the U.S market Real estate and financial utilities companies were deleted from the sample In total, 117 companies ... relationship between a company and audit firm is associated with financial reporting quality The analysis is conducted using two empirical proxies of quality: the absolute value of unexpected accruals...

Ngày tải lên: 06/01/2015, 19:41

... Cash flow from operations in year t scaled by total assets in year t-1 = Total assets in year t = log of the market value of equity in year t = Ratio of total liabilities to total assets in year ... incremental effect of partner rotation, and estimate the following regression: OI = α + α DRET + α PSWITCH + α DRET * PSWITCH + β MRET + β MRET * DRET + β MRET * PSWITCH + β MRET * DRET * PSWITCH ... = Operating income in year t scaled by total assets in year t-1 DRET = if MRET in year t is less than 0; else = MRET = Fiscal year share return adjusted for the All Ordinary Index in year t PSWITCH...

Ngày tải lên: 06/01/2015, 19:42

... antitakeover devices, abnormal returns, sales growth, the ration of net-liquid assets to total assets, debt/equity ratios, market/book ratios, price/earnings ratios and total assets (size) for 1977–91 ... analysis alone that there is a unique set of optimal rules that are universally applicable to all corporations and economies, just as there is no single political constitution that is universally ... other financial markets as evidence that stock valuations are as likely to reflect fundamental value as not They argue that when stock valuations deviate in this way from fundamental value they...

Ngày tải lên: 06/01/2015, 19:49

... coefficients at infinite dilution are calculated, which are listed in Table where "Exp." denotes experimental values, and "Cal.l", "Cal.2" and "Cal.3" denote calculated values from models 1, and 3, respectively ... parameter Vi can be calculated by using the relative van der Waals volumes Rk of the different groups v; = J'' ( 84 ) VA s All other parameters are calculated in the same way as in the original ... assumption of ideal solution is virtually different from the assumption of ideal gas in that in the latter the ideal gas law is tenable According to the ideal gas law, not only yiv = 1, but also l...

Ngày tải lên: 01/04/2014, 11:32

... time to complete the activities is the key parameter • Quality improvement efforts will reduce cycle time Quality and Value • Value = Quality/ Price • Organizations must evaluate the value they ... CONSTRUCTION QUALITY MANAGEMENT time, effecting substantial reductions in the overall cost of maintaining quality Statistical quality control could never meet the challenge; thus, a totally new concept ... functions, especially top management leadership, that determine quality policy objectives and responsibilities for all members of the organization Total Quality Management Total quality management...

Ngày tải lên: 12/05/2014, 17:31

... points of the raw data Fujiki et al Nanoscale Research Letters 2011, 6 :347 http://www.nanoscalereslett.com/content/6/1 /347 virtual electronic all excited states in analogy to surfaceenhanced Raman ... spectroscopy Appl Phys Lett 2005, 87:071102 28 Zhang Y, Aslan K, Previte MJR, Geddes CD: Metal-enhanced fluorescence from copper substrates Appl Phys Lett 2007, 90:173116 29 Pompa PP, Martiradonna ... Local Heating in Nanoscale Conductors Nano Lett 2003, 3:1691 35 Jensen ET, Palmer RE, Allison W, Annett JF: Temperature-Dependent Plasmon Frequency and Linewidth in a Semimetal Phys Rev Lett...

Ngày tải lên: 21/06/2014, 04:20

... environments, all targets are initially unallocated During each round of bidding, all robots bids on all unallocated targets The robot that places the overall lowest bid on any target is allocated ... costs along its path, from its initial location to the first target on the path, and so on, stopping at the last target on the path The per target cost of a target is the sum of the costs along ... given team objective between the current allocation of targets to robots and the allocation that results from the current one if robot r is allocated target t (Unallocated targets are ignored.) Consequently,...

Ngày tải lên: 10/08/2014, 05:20

... coalition value The modified algorithm then calculates the balance coefficient for all these coalitions and chooses the most balanced coalition This ensures that the algorithm always favors the balanced ... Vig and Adams coalitions Choosing the optimal coalition from all possible coalitions is an intractable problem due to the size of coalition structure space (Sandholm et al. , 1999) Algorithms exist ... balanced coalition Economize on the number of robots: Maintain a list of all coalitions with values within a bound of the best coalition value Remove all coalitions larger than the best coalition from...

Ngày tải lên: 10/08/2014, 05:20

... states In our recent works (Qu et al. , 2004a)(Qu et al. , 2004b), we extend the results in (Jadbabaie et al. , 2003)(Lin et al. , 2004) to a general class of MIMO dynamical systems of finite but arbitrary ... strategy was analyzed in (Qu et al. , 2004a) and general leaderless cooperative control was studied in (Qu et al. , 2004b) In this paper, we continue the works in (Qu et al. , 2004a)(Qu et al. , 2004b), ... the distributions at original means Sensor Network-Mediated Multi-Robot Task Allocation 37 sensor network allows a robot to detect a goal (alarm, event) even though the alarm is not in the robot’s...

Ngày tải lên: 10/08/2014, 05:20

... ((Gerkey et al. , 2004)) Randomized pursuit algorithms have also been studied, in both discrete graphs ((Adler et al. , 2003)) and polygonal free spaces ((Isler et al. , 2003)) Algorithm The Parish algorithm ... scalable manner by considering the possible actions of not only single robots, but also small 68 Gerkey, et al teams of robots The general form of the algorithm can be summarized as follows: Algorithm ... misleading analogies between synthetic markets as used by robots and real markets as used by humans 3.2 Application to multi-robot pursuit-evasion We now make Parish concrete by explaining how we apply...

Ngày tải lên: 10/08/2014, 05:20

... Parker et al (eds.), Multi-Robot Systems From Swarms to Intelligent Automata Volume III, 93–105 c 2005 Springer Printed in the Netherlands 94 Roth, et al to be highly intractable (Bernstein et al. , ... attractor lies between the robot and home Whether or not an attractor is between the robot and its home is determined by the alignment between vector from the robot to the attractor and that from the ... Perceptual Cues Transitions between states depend on a set of perceptual cues described in this section First of all, the “detect attractor” cue is triggered when an attractor object falls within...

Ngày tải lên: 10/08/2014, 05:20

... them) Additionally, it is assumed the robots detect the targets perfectly within the nominal sensor range of rnom , never detect targets beyond the maximum range of rmax and detect targets with linearly ... from Matlab to the robots and odometry and observation feedback were sent back from the robots to Matlab All communication was implemented using 114 Powers, et al TCP/IP over wireless Ethernet ... problem If the targets are known to interact, Khan et al (Khan and Dellaert, 2003a),(Khan and Dellaert, 2003b) demonstrate several approaches for tracking interacting targets 4.1 Approach Negative...

Ngày tải lên: 10/08/2014, 05:20

... several robots, is usually solved by extending SLAM techniques (Burgard et al. , 2002, Ko et al. , 2003, Fenwick et al. , 2002), or using EM (Simmons et al. , 2000, Thrun et al. , 2000) Most map merging ... can be obtained from odometry readings In this paper we propose methods to build a global geometrical map by integrating partial maps without using any odometry information This approach increases ... III, 133–144 c 2005 Springer Printed in the Netherlands 134 Amigoni, et al erated integration of two partial maps The methods we propose are robust to displacements between the partial maps, provided...

Ngày tải lên: 10/08/2014, 05:20