Miracle-dz/UniFAR-FTUs huggingface dataset:
Firm value, audit quality, and social welfare in the presence of costly litigation against auditors

This dissertation has two objectives. The first is to provide a framework for understanding strategic interactions between an auditor and investors in a competitive rational expectations economy. The second is to provide a welfare analysis of auditor litigation in a costly legal environment. We present a model which captures the following aspects: (i) investors in a competitive capital market form rational expectations about their future litigation opportunities against auditors; (ii) auditors compete for potential clients, and they strategically consider the threat of litigation; (iii) the audited firm's production decision depends on audit quality; and (iv) trial is a costly process, and litigants have settlement opportunities. The market price of the firm and audit quality are endogenized. The welfare analysis provides a rationale why society maintains a legal system which provides an incentive for the investors to recover their ex post financial loss from the auditor through a costly legal process, even if they can price-protect themselves ex ante with or without such a mechanism. We interpret the court system as a decentralized disciplinary mechanism for the auditor moral hazard problem, which enables the potential auditee to use an auditor as a commitment device. We examine the economic consequences of legal policies which potentially influence the size of legal costs. When audit failure is clearly defined, an increase in the auditor's legal costs decreases social welfare. An increase in the investors' legal costs has a more complex impact on the actions of economic agents upon which the social costs and benefits of an audit crucially depend. We also study the economic impact of a change from an American to a British rule of allocating legal costs, which was recently proposed by the accounting profession in the U.S. In contrast to the practitioners' common belief, we demonstrate that the British rule might increase the frequency of lawsuit. Therefore, regulators must be very careful in evaluating the accountants' proposal of the British rule, and it should not replace the American rule unless a careful analysis indicates that the net benefit of audits under the British rule is larger than that under the American rule.
Image representation and enhancement on elastic manifolds

Enhancing detail and contours of objects in low resolution noisy natural images is still one of the most outstanding challenges in image processing. This study is devoted to a new approach to adaptive image enhancement, based on the application of a damped elastic deformation process to single images. The proposed approach results in a Telegraph-Diffusion (TeD) denoising-and-sharpening filtering scheme which enhances fine details in images. Three efficient numerical schemes are presented. Advantages of the algorithm are discussed with reference to computational results.
Verification and validation of the physical layer ATSC 3.0 standard

This paper reports on the functional verification work of the physical layer of the next-generation broadcast television standard ATSC 3.0 performed by the Verification and Validation (V&V) group. The main goal of the V&V work is to confirm a common understanding of the ATSC 3.0 physical layer specification A/322, particularly during the so-called candidate standard period before the final standard is released. The paper presents an overview of the V&V work, describing the suite of tests defined, the software tests and the hardware tests of the first two ATSC 3.0 plug-fests undertaken in Shanghai (China) in October 2015 and in Baltimore (US) in March 2016.
Assessment and management of the Dermersal Fisheries of the Java Sea, Indonesia

The major goals of this research were: (i) to review and evaluate the Java Sea fisheries legal, policy and management framework in particular, with respect to the demersal fishery; and, (ii) to investigate the current information available for assessment of the Java Sea fisheries resources and their sustainability. To achieve these goals, the complexities of Indonesia’s fisheries management and policy framework have been critically reviewed. In addition, fisheries statistical data and information has been collected from national, provincial and district governments surrounding Java Sea, which includes 7 provinces and 31 districts. Finally, to investigate the problems and issues in implementing the current fisheries laws and regulations, interviews with fisheries management authorities at all levels of government have been carried out and observations of fishing vessels and fishing activities have been made throughout the region. Large-scale development of demersal fisheries in the Java Sea occurred in the late 1960s, after the introduction of trawl fishing. This was promoted by strong international demand for shrimp, especially from Japan. As a result, the Java Sea demersal fisheries became very important as a source of fish for domestic consumption and as raw materials for fish processing, resulting in new industries and creating local job opportunities. The average contribution of Java Sea fisheries to the national marine fisheries production during the period from 1985 to 2008 was about 23.5 %. To deal with the increasing exploitation of fisheries resources, the Indonesian Government enacted Fisheries Law No. 9 (1985), later followed by Fisheries Law No. 31 (2004). These laws covered most aspects of fisheries in Indonesia, including jurisdiction, management, exploitation, development, delegation of responsibilities, as
DMP 323, a nonpeptide cyclic urea inhibitor of human immunodeficiency virus (HIV) protease, specifically and persistently blocks intracellular processing of HIV gag polyprotein

DMP 323, a C-2-symmetrical cyclic urea, is representative of a new class of inhibitors of human immunodeficiency virus protease. In this study, we correlate the potent antiviral activity of DMP 323 in acute infections with antiprotease activity assessed by monitoring the inhibition of the processing of viral gag precursor polyprotein from chronically infected lymphoid and monocytoid cell lines. Electron microscopic examination confirmed that the inhibition of gag processing was associated with the production of immature viral particles. Reduction of DMP 323 in the environment of unprocessed gag viral particles did not result in the resumption of gag processing for at least 72 h.
A 3D Human Lung Tissue Model for Functional Studies on Mycobacterium tuberculosis Infection

Tuberculosis (TB) still holds a major threat to the health of people worldwide, and there is a need for cost-efficient but reliable models to help us understand the disease mechanisms and advance the discoveries of new treatment options. In vitro cell cultures of monolayers or co-cultures lack the three-dimensional (3D) environment and tissue responses. Herein, we describe an innovative in vitro model of a human lung tissue, which holds promise to be an effective tool for studying the complex events that occur during infection with Mycobacterium tuberculosis (M. tuberculosis). The 3D tissue model consists of tissue-specific epithelial cells and fibroblasts, which are cultured in a matrix of collagen on top of a porous membrane. Upon air exposure, the epithelial cells stratify and secrete mucus at the apical side. By introducing human primary macrophages infected with M. tuberculosis to the tissue model, we have shown that immune cells migrate into the infected-tissue and form early stages of TB granuloma. These structures recapitulate the distinct feature of human TB, the granuloma, which is fundamentally different or not commonly observed in widely used experimental animal models. This organotypic culture method enables the 3D visualization and robust quantitative analysis that provides pivotal information on spatial and temporal features of host cell-pathogen interactions. Taken together, the lung tissue model provides a physiologically relevant tissue micro-environment for studies on TB. Thus, the lung tissue model has potential implications for both basic mechanistic and applied studies. Importantly, the model allows addition or manipulation of individual cell types, which thereby widens its use for modelling a variety of infectious diseases that affect the lungs.
Research, part of a Special Feature on Coupled Human-Coastal Ecosystems: Building Resilience Through Teaching and Research Partnerships Design considerations for community-based stream monitoring to detect changes in Pacific salmon habitats

Communities in the Great Bear Rainforest of British Columbia, Canada are highly dependent on Pacific salmon (Oncorhynchus spp.) and the watersheds that support them, yet current monitoring efforts are likely inadequate for detecting changes in stream habitats that may affect salmon populations. The Coastal First Nations Regional Monitoring System is attempting to address these information gaps through a new stream assessment program that collects baseline information and tracks changes in stream habitats. Using the program's monitoring protocol, we assessed the habitat characteristics of eight streams within the Koeye and Namu watersheds, then used a statistical power simulation to determine within-stream sampling requirements for detecting changes in substrate composition that may affect salmon habitat suitability. We also assessed resource constraints and perceived threats to stream habitats via questionnaires to coastal First Nations' stewardship staff. Results suggest that the current recommended sample size of 6 within- stream transects has low statistical power for detecting biologically significant changes in fine sediment. Given limited monitoring resources, we recommend higher transect sampling intensities within productive riffle-pool streams, but an emphasis on monitoring site level characteristics, such as large woody debris and pool volume, in less productive, high gradient cascade-pool streams. Questionnaire results highlight the need for flexibility and local adaptation in monitoring efforts because of differences in resource constraints among First Nations communities. If successfully implemented, the stream assessment program can integrate local knowledge with western science to inform ecosystem-based management of watersheds within the Great Bear Rainforest.
The Association between Earnings Quality and Regulatory Report Opinions in the Accounting Industry

We compare the outcome of two different information systems – self regulation versus private sector regulation – in the accounting industry. Under the Sarbanes-Oxley Act, Public Company Accounting Oversight Board (PCAOB) inspections replaced American Institute of Certified Public Accountants (AICPA) peer reviews of auditors. Peer review opinions are useful with respect to decisions about hiring and firing of auditors (Hilary and Lennox, 2005); therefore, the question remains what are the benefits of incurring the cost to replace a selfregulatory system with a private regulatory agency. We examine the usefulness of these two information systems at distinguishing earnings quality at firms audited by the reviewed auditors. We find opinions from the PCAOB inspection are able to distinguish earnings quality (accounting discretion and earnings informativeness) whereas the peer review opinion does not. Given that the PCAOB inspection report opinions are associated with earnings quality, we next identify characteristics associated with auditors that receive a positive PCAOB opinion. We find they are larger (measured by the number of professional staff) and are more independent of clients.
Projection Reconstruction Techniques for Reduction of Motion Effects in MRI

Projection reconstruction (PR) techniques are shown to have intrinsic advantages over spin‐warp (2DFT) methods with respect to diminished artifacts from respiratory motion. The benefits result from (1) portrayal of artifacts as radial streaks, with the amplitude smallest near the moving elements; (2) streak deployment perpendicular to the direction of motion of moving elements and often residing outside the anatomic boundaries of the subject; (3) inherent signal averaging of low spatial frequencies from oversampling of central k‐space data. In addition, respiratory‐ordered view angle (ROVA) acquisition is found to diminish residual streaking significantly by reducing interview inconsistencies. Comparisons of 2DFT and PR acquisitions are made with and without ROVA. Reconstructions from magnitude‐only projections are found to have increased streaks from motion‐induced phase shifts. © 1992 Academic Press,Inc.
Quantitative Equidistribution for Certain Quadruples in Quasi-Random Groups

Bergelson and Tao have recently proved that if G is a D-quasi-random group, and x, g are drawn uniformly and independently from G, then the quadruple (g, x, gx, xg) is roughly equidistributed in the subset of G4 defined by the constraint that the last two coordinates lie in the same conjugacy class. Their proof gives only a qualitative version of this result. The present note gives a rather more elementary proof which improves this to an explicit polynomial bound in D−1.
Available data sources for monitoring non-communicable diseases and their risk factors in South Africa.

BACKGROUND Health information systems for monitoring chronic non-communicable diseases (NCDs) in South Africa (SA) are relatively less advanced than those for infectious diseases (particularly tuberculosis and HIV) and for maternal and child health. NCDs are now the largest cause of premature mortality owing to exposure to risk factors arising from obesity that include physical inactivity and accessible, cheap but unhealthy diets. The National Strategic Plan for the Prevention and Control of Non-Communicable Diseases 2013 - 17 developed by the SA National Department of Health outlines targets and monitoring priorities. OBJECTIVES To assess data sources relevant for monitoring NCDs and their risk factors by identifying the strengths and weaknesses, including usability and availability, of surveys and routine systems focusing at national and certain sub-national levels. METHODS Publicly available survey and routine data sources were assessed for variables collected, their characteristics, frequency of data collection, geographical coverage and data availability. RESULTS Survey data sources were found to be quite different in the way data variables are collected, their geographical coverage and also availability, while the main weakness of routine data sources was poor quality of data. CONCLUSIONS To provide a sound basis for monitoring progress of NCDs and related risk factors, we recommend harmonising and strengthening available SA data sources in terms of data quality, definitions, categories used, timeliness, disease coverage and biomarker measurement.
Managerial Approach of International Initial Public Offerings Valuation

Initial public offerings (IPO) of financial instruments on international financial markets represent one of the most important financing channels not only for developed countries, but for emerging ones too. The most sensitive element of international IPOs that could determine the success or failure of them is the initial price mentioned in the prospectus. This initial price used to sell securities to individual or institutional investors is always compared with real market price and is essential for investment decision. For this reason, in almost cases of international IPOs, the underpricing effect is present. This paper discusses the problem of underpricing effect and highlights the most sensitive problems with securities’ valuation methods that are commonly used by financial managers to decide and to act in this case.
Idiosyncratic Corporate Liquidity and Equity Returns

This paper examines the effect corporate liquidity may impose on the equity returns. We find that firms with more cash have higher expected stock returns because they are riskier. In general, firms with higher corporate liquidity tend to be smaller, financially distressed, have higher beta, more volatile cash flows and more financial constraints. In addition, the positive impact of corporate liquidity on stock returns is stronger for firms with volatile cash flows and financial constraints. We also show that corporate liquidity contains risk information different from that in size and value factors. The paper provides empirical evidence to support the precautionary motive of holding cash, and suggests that corporate liquidity may serve as a proxy for the cash flow risk and financial constraint risk of the firms.
Measuring Push, Pull And Personal Factors Affecting Turnover Intention: A Case Of University Teachers In Pakistan

It has been observed that professional and qualified teacher’s retention become a challenge for Higher Education Institutions (HEIs) in Pakistan as the turnover rate has been significantly increased in recent years. The main objective of this paper is to access personal, push and pull factors and to find out that which factors contribute more to turnover intention. Primary data were collected from 100 teachers of 5 HEIs using questionnaire methods. The results indicate that all factors (personal, pull and push) have contributed in the employees’ turnover intentions. However, some facets of personal factor have significantly contributed in turnover intentions.
Impact of Customer Relationship Management on Product Innovation Process

In marketing, the common view is that customer relationships enhance innovativeness. Regularly it involves doing something new or different in response to market conditions. However, previous studies have not addressed how customer relationship management (CRM) plays its role in product innovation process. This thesis proposes and tests how key CRM activities influence and relate to each stage in product innovation process. The objective of this study is to test how customer relations management activities influence four basic stages of product innovation process. Five practices of CRM is found in the literature (i.e., information sharing, customer involvement, long-term partnership, joint problem-solving and technology-based CRM). Furthermore, our literature review suggests four stages of innovation process (i.e., innovation initiation, input, thoroughput and output). The one-to-one relationship between CRM activities and innovation stages are established in four models. These associations are tested and some are verified in a survey-based study. Specifically data from 83 respondents were collected. All respondents represent a strategic business unit and work closely with R&D, product development or marketing. Regression analysis is conducted to examine the impacts of CRM on innovation process. The statistical results indicate that not all CRM activities make contributions to each stage within innovation process. It is found that 1) information sharing effectively enhances both innovation throughput and innovation output. 2) Customer involvement and joint problem-solving exert positive influence on innovation throughput stage, while long-term partnership has significant effects on innovation output. 3) CRM activities have no impact on innovation initiation and input. 4) Technology-based CRM is the least effective mechanism during the innovation process. The findings suggest the need for more research in this area and the statistical results provide corporate management with useful reference to align their CRM activities with a certain stage of innovation process.
New Tuning Method for 94 GHz Waveguide Voltage Controlled Oscillator

We propose a simple, yet highly effective tuning method to increase the bandwidth of a waveguide voltage controlled oscillator (VCO) by applying controlled mechanical pressures to the packaged Gunn diode mounted in the waveguide cavity resonator. When we applied this method to a varactor-tuned, second-harmonic 94 GHz VCO, the bandwidth was doubled to 1 GHz with an output power over 14.8 dBm, which is suitable for frequency-modulated continuous-wave radar sensor applications.
Türkiye ve Avrupa’daki Çocukların İnternet Alışkanlıkları ve Güvenli İnternet Kullanımı

In this study, Internet use and activities of children and parents, the risks they encountered, and parental awareness related children’s Internet activities were reported by examining the findings based on 23 European countries and Turkey data of EU Kids Online project. In the study, the data were obtained via interviewing of 23.000 of 23 European countries’ and 1018 Turkish Internet-user children who were ages between 9 and 16 and one of their parents. The results showed that the majority of children’s Internet skills were not adequate and they were exposed to many online risks. Besides, the fact that parents’ Internet use rates were very low and they did not have enough knowledge to save their children from the Internet risks. To raise awareness of children about potential online risks, some precautions that families, school, policy makers and the Internet service providers might take were suggested in the discussion part of the study.
Monitoring for a Sustainable Tourism Transition: The Challenge of Developing and Using Indicators

Part 1: Introduction Sustainable Development Sustainable Tourism Part 2: Motivations for Monitoring Private Sector Drivers Public Sector Drivers Part 3: Monitoring Process Monitoring Using Indicators Developing Indicators Implementing Monitoring Systems Part 4: Introduction to Case Studies The World Tourism Organisation Tourism Optimisation Management Model Samoa Sustainable Tourism Indicator Project The Tour Operators' Initiative for Sustainable Development Conclusion.
Dissecting Offshore Outsourcing and R&D: A Survey of Japanese Manufacturing Firms

This paper summarizes main descriptive results from the survey on a wide range of offshore outsourcing and R&D. This survey covers more than five thousand large-sized firms across all manufacturing industries in Japan. The principal findings are as follows. Merely 21% of the firms are outsourcing offshore. Nearly two-thirds of the cases, firms are outsourcing production-related tasks to East Asia. More than one-third of the cases, especially often in R&D and customer supports, tasks are outsourced to own offshore affiliates within the boundary of multinational firm. Offshore R&D is often integrated with corporate headquarters and is motivated for supporting the production and sales in the local market. The survey also covers firm's evaluation of the intellectual property rights protection in 56 countries.