bluuebunny/crossref_metadata_2025 huggingface dataset:
Investor Dissatisfaction toward Auditors
Authors: Sainty Barbara J. , Taylor Gary K. , Williams David D.
Published: January 2017

Shareholders, as owners of the firm, often are sought to ratify management's selection of an auditor through a formal vote during the annual shareholders' meeting. This vote represents the primary vehicle for investor communication concerning auditor-related issues and, thus, can be used as an indicator of investor dissatisfaction with the auditor. This study proposes to measure shareholders' dissatisfaction with the auditor through the shareholders' auditor ratification vote.

We identify attributes associated with high levels of investor dissatisfaction and then determine if a high level of investor dissatisfaction is associated with a subsequent change in a firm's auditor. We determined that investor dissatisfaction is associated with a firm having engaged a less credible auditor and the issuance of a going concern audit opinion. In addition, we find that investors react strongly to the unexpected issuance of a going concern opinion. Finally, we discovered that managers are sensitive to shareholder dissatisfaction signals by noting a higher occurrence of auditor changes for firms with high investor dissatisfaction.
Executive Compensation, Investment Opportunities, and Earnings Management: High-Tech Firms versus Low-Tech Firms
Authors: Kwon Sung S. , Yin Qin Jennifer
Published: January 2017

This paper examines the systematic differences between high-tech and low-tech firms in compensation policies, the sensitivity of compensation to market and accounting performance, and earnings management in the presence of investment opportunities. We find that the level of industry participation (i.e., high-tech versus low-tech) has incremental contracting value beyond the investment opportunity set (IOS) in determining executive compensation. When we control for the IOS factor, we find that high-tech firms generally pay higher levels of total compensation by granting larger amounts of stock options than low-tech firms, even though they typically offer lower cash salaries and bonuses than their low-tech counterparts. The relationship between compensation and stock return is higher for high-tech firms, and there appears to be no difference in the association between compensation and accounting return in both groups. More importantly, we find that the association between bonus and discretionary accruals is higher for high-tech firms than for low-tech firms, especially when earnings before discretionary accruals are lower than analyst-forecasted earnings. Furthermore, even in cases where premanaged earnings exceed earnings expectations, or in cases where the probability of meeting analysts' forecasts is low, high-tech firms are more likely to reward managers who use discretionary accruals to meet earnings forecasts. This is consistent with the practice of compensation committees of hightech firms rewarding CEOs for using discretionary accruals to signal private information to reduce information asymmetry.
Earnings Restatements, the Sarbanes-Oxley Act, and the Disciplining of Chief Financial Officers
Authors: Collins Denton , Masli Adi , Reitenga Austin L. , Sanchez Juan Manuel
Published: January 2017

We investigate involuntary chief financial officer (CFO) turnover following earnings restatements, the labor market penalties imposed on former restatement-firm CFOs, and whether these disciplinary consequences have increased following the passage of the Sarbanes-Oxley Act of 2002 (SOX). Our results suggest that relative to a control group of non-restating firms, firms restating earnings have higher rates of involuntary CFO turnover, and that former restatement-firm CFOs face stiff labor market penalties. We generally find that the passage of SOX has not increased involuntary CFO turnover rates following restatements. However, we find that labor market penalties for former CFOs of restatement firms are more severe in the post-SOX period, suggesting that SOX has increased ex post settling-up costs. Our results suggest that the influence of SOX on the labor market has resulted in CFOs being held more accountable for their actions.
Using Industry Classification Codes to Sample High-Technology Firms: Analysis and Recommendations
Authors: Kile Charles O. , Phillips Mary E.
Published: January 2017

This study develops procedures for selecting and partitioning samples of high-technology firms for North American Industry Classification System (NAICS), Global Industry Classification System (GICS), and Standardized Industry Classification (SIC) codes. This study also assesses whether NAICS or GICS codes offer improvement over SIC codes as a methodology to identify high-technology firms, including Internet firms. SIC codes are predominantly used in accounting, information systems, business, and economics studies to select high-technology firms for analyses. However, recent studies such as Clarke (1989), Fan and Lang (2000), Ramnath (2001), and Bhojraj, Lee, and Oler (2003) have called into question the accuracy of using SIC codes for firm classification. Our study constructs a benchmark industry classification, constructed from analyses of detailed descriptions of firms' businesses from Description of Business and footnote disclosures (required in all 10-Ks and registration statements). Based on a comparison with our benchmark industry classification, we developed combinations of codes from each system that we recommend be used to construct samples of high-technology firms or specifically targeted high-technology industries. We conclude from our analyses that GICS codes offer improvement over SIC and NAICS codes for targeting technology firms.
How Does Regulation Fair Disclosure Affect Pre-Fair Disclosure Selective Disclosers?
Authors: Sun Yan
Published: January 2017

This paper investigates the impact of Regulation Fair Disclosure (hereafter Reg FD) by examining its influence on firms that relied on selective disclosures in the pre-FD period. I construct a proxy for the extent of a firm's reliance on selective disclosures and identify public disclosers and selective disclosers prior to Reg FD. Because Reg FD affects selective disclosers, whereas confounding events around the passage of Reg FD affect all firms, I compare changes in information metrics around Reg FD between these two groups of firms. The differences in their changes indicate Reg FD's effects. I find that Reg FD is associated with reductions in the number of analysts following a firm and the informational efficiency of stock prices prior to earnings announcements, and with increases in analysts' forecast error, their forecast dispersion, and the abnormal trading volume at earnings announcements for pre-FD selective disclosers. This study helps us better understand and evaluate the impact of Reg FD.
Do Auditors Price Audit Committee's Expertise? The Case of Accounting versus Nonaccounting Financial Experts
Authors: Krishnan Gopal , Visvanathan Gnanakumar
Published: January 2017

The issue of whether audit pricing reflects the effectiveness of the audit committee is of fundamental interest to auditors, managers, and others. Auditors are expected to price the effectiveness of the audit committee because it relates to the control risk and thus, the overall audit risk. This study examines the relation between audit fees and a key determinant of the audit committee's effectiveness—that is, the financial expertise of the audit committee. Though the Sarbanes-Oxley Act mandates the disclosure of a financial expert, the Securities and Exchange Commission (SEC) broadly defined experts to include accounting or nonaccounting financial experts. Does audit pricing differentiate between accounting and nonaccounting financial expertise? For a sample of Standard & Poor's (S&P) 500 firms for the years 2000 through 2002, we find that after controlling for several board and audit committee characteristics and firm characteristics, audit pricing is negatively related to accounting financial expertise. However, this finding is conditional upon the strength of the overall governance structure. We do not find a significant relation between audit fees and accounting financial expertise for observations with weak governance structure. Overall, our evidence is consistent with the SEC's initial narrow definition to include only the accounting financial experts. The lack of a significant relationship between nonaccounting financial expertise and audit fees suggests that auditors perceive that only accounting financial expertise contributes to audit committee's effectiveness.
Reducing the Federal Deficit: A Critical Challenge
Authors: Bowsher Charles A.
Published: January 2017

In this article, the Comptroller General of the United States discusses the implications of the huge federal deficit for the U.S. economy, including the impact on interest rates, influx of foreign capital, and Third World debt problems. He gives solutions for cutting the deficit, including cuts in spending programs and raising revenue. Finally, he outlines procedures for preventing future occurrences by putting our financial house in order. This means having reliable, relevant, and timely information in order to understand the issues and to make good decisions. This requires overhauling our inadequate federal financial management systems.
Regulatory Compliance Costs and LIFO: No Wonder Small Companies Haven't Switched
Authors: Hilke John C.
Published: January 2017

The widespread decision of small companies to avoid using LIFO is discussed as a function of the difficulties that companies have in complying with LIFO requirements. 1983 survey estimates indicate that small companies face considerably higher costs in switching to LIFO than do large companies. Both large and small companies could save a large proportion of their LIFO conversion costs if LIFO regulations were modified to permit use of government price indexes in determining price changes.
Operating Cash Flows: A Growing Need for Separate Reporting
Authors: Thode Stephen F. , Drtina Ralph E. , Largay James A.
Published: January 2017

This study provides empirical evidence on the extent to which cash flow from operations is not proxied by more traditional performance measures such as income from continuing operations and working capital from operations. The study reaches definitive conclusions about the potential of these three measures to have differential information content; accordingly, an effort should be made to clarify and standardize the separate reporting of cashflow from operations statements. These results and those of previous research lead to the conclusion that a requirement for separate reporting of cashflow from operations is an idea whose time has come.
Common Stock Equivalents, Earnings per Share, and Stock Valuation
Authors: Bierman Harold
Published: January 2017

This paper deals with how the primary earnings per share should be affected by common stock equivalents. Following the present rules there can be convertible bonds which should be converted but are not converted because their conversion will adversely affect primary earnings per share. Two accounting issues studied are (1) Should common stock equivalency be determined at time of issue? (2) Should there be no dilution if the stock price is less than the conversion price or less than the exercise price of a warrant or option? The author answers no to the first question and yes to the second. He recommends present disclosure of future distribution on a pro forma basis.
Stock Price Behavior Associated with Post-1974–75 LIFO Adoptions Announced at Alternative Disclosure Times
Authors: Pincus Morton , Wasley Charles E.
Published: January 2017

We examine the behavior of stock prices at the time of post-1974–75 LIFO adoption announcements. We exploit recent theoretical and empirical developments in the LIFO adoption literature in an attempt to resolve some of the mixed findings in Hand (1993). We study LIFO adoptions announced prior to as well as at the time of annual earnings announcements. Previous research has mostly centered on 1974–75 adoptions made at the time of annual earnings announcements. Our study of LIFO adoptions announced prior to annual earnings announcement dates enables us to provide evidence on whether the early announcement of a LIFO adoption is used by firms to signal positive information about earnings growth. Collectively, our results suggest that in explaining the market response to LIFO adoption announcements, extant models of the LIFO adoption decision do not fully capture the richness of differing inflationary environments or of alternative disclosure times.
The Role of Economic Trade-Offs in the Audit Opinion Decision: An Empirical Analysis
Authors: Krishnan Jagan , Krishnan Jayanthi
Published: January 2017

We extend existing audit opinion models by incorporating economic tradeoffs that arise in the auditor's qualification (modification) decision. Prior qualification studies (e.g., Dopuch, Holthausen, and Leftwich [1987]; Bell and Tabor [1991]) do not investigate whether the opinion issued is influenced by particular trade-offs facing an auditor. On the one hand, the audit firm faces the risk of losing the client if it issues a qualification, and on the other, failing to qualify exposes the auditor to lawsuits and reputation loss. We model the auditor's qualification decision as a two-stage model. We estimate a bivariate model that breaks down the probability of qualifying into two components: (1) the probability that the client deserves a qualified opinion based on the audit and (2) the probability that the auditor reports a qualified opinion, given the auditor considers that the client deserves such an opinion.

We hypothesize that the second-stage decision to qualify or not is influenced by factors such as the auditor's risk of litigation, the type (Big Six or not) of auditor, the extent of outsider ownership, the share of public debt in total debt, the relative importance of the client in the auditor's portfolio, and the future growth rate of the client. Our results indicate that the auditor's litigation risk, the extent of outsider ownership, the relative importance of the client in the auditor's portfolio, and future growth are important factors in the audit opinion decision. Estimated mean and median probabilities indicate significantly higher values of reporting probabilities for qualified as compared to unqualified firms, suggesting that the second stage is an important component of the qualification decision.
The Information Content of Calls of Convertible Preferreds: The Evidence from Earnings Forecasts
Authors: Shastri Karen A. , Shastri Kuldeep
Published: January 2017

This paper examines the impact of the announcement of convertible preferred calls on earnings forecasts by financial analysts. Our results show that in-the-money calls are associated with no change in either forecasted earnings or forecasted long-term earnings growth. In addition, we find that the abnormal return around the announcement of the call is uncorrected with changes in earnings or long-term growth rates. Similar results are obtained from the analysis of earnings changes around out-of-the-money calls. Out-of-the-money calls, however, are associated with marginally significant increases in forecasts of long-term growth, but these increases are not correlated with the announcement period abnormal returns. These results suggest that any information inherent in convertible preferred calls is not associated with future earnings. Therefore, they are more consistent with the Jensen free-cash-flow hypothesis than the Harris-Raviv signaling hypothesis.
A Review of Hypersomolar Hyperglycemic Nonketotic Dehydration (HHND): Etiology, Pathophysiology and Prevention During Intravenous Hyperalimentation
Authors: Kaminski Mitchell V.
Published: January 2017

The records of 200 patients, nutritionally supported by synthetic means, were reviewed for evidence of clinical hyperosmolar hyperglycemic nonketotic dehydration (HHND). There was a 3% incidence of morbidity, with a single mortality. Laboratory values demonstrated a positive correlation between persistent glucosuria and HHND. The pathophysiology of HHND demonstrated a relative insulin lack with sufficient insulin to prevent lipolysis, but insufficient to prevent hyperglycemia, glucosuria and osmotic diuresis. The mechanism and management of the pseudodiabetes of stress is reviewed. It is concluded that HHND is an avoidable iatrogenic morbidity. Prevention of osmotic diuresis secondary to glucosuria and, therefore, prevention of HHND is achieved by providing exogenous insulin sufficient to prevent glucosuria.
Catheter‐Related Infections Associated With Home Parenteral Nutrition and Predictive Factors for the Need for Catheter Removal in Their Treatment
Authors: Buchman Alan L. , Moukarzel Adib , Goodson Blaine , Herzog Faye , Pollack Paul , Reyen Laurie , Alvarez Maria , Ament Marvin E. , Gornbein Jeff
Published: January 2017

The inpatient and outpatient records were reviewed for 527 patients, including 138 children, who were discharged on home total parenteral nutrition and followed by the University of California, Los Angeles, home total parenteral nutrition service for a minimum of 1 week between April 1973 and October 1991. The total follow‐up time was 1154 patient years; the median follow‐up time was 206 days (range 7 to 6344 days). Thirty‐six patients were followed for more than 10 years (median 12.7 years). Three hundred fifteen adults (but only four children) were never infected. A total of 427 catheter‐related infections occurred, giving an overall infection rate of 0.37 per patient year (0.51 per patient year in children and 0.28 per patient year in patients followed for more than 10 years). Seventy percent of the infections overall were sepsis (0.26 per patient year); of those, 17% were exit site (0.06 per patient year), and 2% were tunnel (0.01 per patient year) infections. In children, 67% of the infections were sepsis (0.37 per patient year) and 24% were exit site (0.13 per patient year). Fifty‐four different organisms were responsible, and 12% of the infections were polymicrobial in origin. Sixty percent of sepsis in all patients was caused by Gram‐negative organisms (44% of the catheters were removed). Forty‐three percent of sepsis in children was caused by Gram‐negative organisms. Twenty‐six percent of sepsis in all patients was caused by Gram‐positive organisms (40% of the catheters were removed). Thirty‐six percent of sepsis in children was caused by Gram‐positive organisms. Fourteen percent of sepsis was fungal in origin in both adults and children (92% of the catheters were removed). Seventy‐four percent of the exit‐site infections were caused by Staphylococcus aureus. (38% of the catheters were removed). Fifty‐seven percent of the tunnel infections were caused by S aureus. (100% of the catheters were removed), x2 analysis demonstrated that the presence of fever, leukocytosis, bandemia, left shift, organism, Gram status, polymicrobial infections, or organism species (except for fungi and mycobacteria) could not reliably predict the need for catheter removal in any type of catheter‐related infection. Catheter infection is uncommon in home total parenteral nutrition patients, although it is more common in children than in their adult counterparts. This, as well as the overall incidence of catheter infection in home total parenteral nutrition patients, may relate to the protocol and technique of catheter care. (Journal of Parenteral and Enteral Nutrition. 18:297–302, 1994)
Histamine Receptor Antagonists and Lipid Stability in Total Nutrient Admixtures
Authors: Hatton Jimmi , Luer Mark , Hirsch John , Westrich Tom , Holstad Sheldon
Published: January 2017

Drug stability and compatibility studies should be performed for all medications added to total nutrient admixtures (TNAs) before administration to patients. The stability of TNA components will vary depending on product selection and final concentrations. This variability prohibits generalizing published study results generically to TNAs containing untested products or combinations. Histamine receptor antagonists (H2RAS) are commonly administered by continuous infusion via nutrient solutions. When the delivery vehicle is a TNA, comparative stability and compatibility studies performed under similar test conditions are lacking. The stability of marketed parenteral H2RAs and of the investigational H2RA, nizatidine was analyzed in TNA solutions containing either Liposyn II or Intralipid at differing concentrations. All H2RAS remained at more than 90% of initial concentration at 24 hours. After 48 hours, only ranitidine concentrations fell to less than 90% in all study solutions. Each TNA containing an H2RA was within pH stability ranges for lipid products, and no change in particle size was detected during the 48‐hour period. This is the first report determining H2RA compatibility and stability in TNA solutions with both 3% and 5% Intralipid and Liposyn II and using similar methodology for all standard H2RA concentrations. Results suggest that these drugs are stable for 24 hours in TNAs containing either lipid product. Beyond this time, administration of ranitidine may be unreliable because of poor stability under the conditions tested. (Journal of Parenteral and Enteral Nutrition 18:308–312, 1994)
Supplemental Alanylglutamine, Organ Growth, and Nitrogen Metabolism in Neonatal Pigs Fed by Total Parenteral Nutrition
Authors: Burrin Douglas G. , Shulman Robert J. , Langston Claire , Storm Michael C.
Published: January 2017

The objective of this study was to determine whether supplemental glutamine (alanylglutamine dipeptide) is effective in preventing small intestinal mucosal atrophy associated with total parenteral nutrition and whether it affects the growth of other organs in neonatal pigs. We compared organ growth, intestinal enzyme activity, and plasma nitrogen metabolites in 4‐day‐old pigs randomly selected to receive total parenteral nutrition supplemented with 0 g, 2.0 g, or 4.5 g of glutamine per deciliter for a total amino acid intake of either 11 or 25 g‐kg−1d−1 for 7 days. Glutamine supplementation increased (60% to 100%) plasma concentrations of glutamine, urea nitrogen, ammonia, and both jejunal villus height and surface area, but it did not significantly affect jejunal mucosal protein and DNA masses or the relative growth of liver, kidneys, and brain. No histologic evidence of tissue toxicity was found. Supplementing large amounts of glutamine (alanylglutamine dipeptide) did not completely prevent total parenteral nutrition‐associated intestinal mucosal atrophy but did improve villus morphology without affecting vital organ growth or histology. (Journal of Parenteral and Enteral Nutrition 18:313–319, 1994)
Long‐term Effect of Glycyl‐glutamine After Elective Surgery on Free Amino Acids in Muscle
Authors: Petersson Benny , Waller Sven‐Olof , Vinnaks Erik , Wernerman Jan
Published: January 2017

In order to evaluate the long‐term effect of total parenteral nutrition supplemented with glutamine after surgery, patients (n = 17) undergoing elective abdominal surgery were randomized into two groups and studied for 30 days after surgery. During the 3 days immediately after surgery, one group (n = 8) was given total parenteral nutrition including a conventional amino acid solution (control group). The other group (n = 9) was given isocaloric and isonitrogenous total parenteral nutrition including the same amino acid solution supplemented with the dipeptide, glycyl‐glutamine (GLN group). Oral food intake started on the third postoperative day and was gradually increased at will. The concentration of free amino acids in percutaneous muscle biopsy specimens was determined preoperatively and on days 3, 10, 20, and 30 after the operation. Free glutamine decreased in skeletal muscle in the control group on days 3 and 10 by 32.2 ± 5.4% (p <.01) and 20.1 ± 6.9% (p <.05), respectively. In the glycyl‐glutamine group, the decrease in glutamine was delayed until day 10 when it was 22.1 ± 8.1% (p <.05). The glutamine levels were restored on days 20 and 30 in both groups. Total parenteral nutrition supplemented with glutamine maintained the free glutamine levels in skeletal muscle after surgery, but when treatment was discontinued, the glutamine concentration in muscle dropped, despite a normal enteral dietary intake. (Journal of Parenteral and Enteral Nutrition 18:320–325, 1994)
The Effect of Fiber Source in Enteral Products on Fecal Weight, Mineral Balance, and Growth Rate in Rats
Authors: Wang Youyu , Funk Martha A. , Garleb Keith A. , Chevreau Nathalie
Published: January 2017

The effect of two fiber systems in enteral formulas on fecal output, mineral balance, weight gain, and cecal short‐chain fatty acid production was studied in rats. Enteral products tested had either no fiber; soy fiber (3.4 g of total dietary fiber/8 fluid oz); a fiber blend containing 75% oat fiber, 17.5% gum arabic, and 7.5% carboxymethylcellulose (3.4 g of total dietary fiber/8 fluid oz); or the same blend at 4 g of total dietary fiber/8 fluid oz. Food, feces, and urine were analyzed for nitrogen, calcium, magnesium, iron, and zinc. Cecal contents were analyzed for short‐chain fatty acids. Weight gain, intake, food efficiency, and nitrogen balance were unaffected by fiber source. Fecal weight was increased by the fiber blend (p <.05). Calcium and magnesium balances were similar for all groups fed fiber‐containing products but were lower for the fiber‐free group (p <.05). Iron balance was significantly lower for rats fed the fiber blend at 4 g/8 fluid oz as compared with the other treatment groups (p <.05). Cecal acetate, propionate, and total short‐chain fatty acid concentrations for rats fed the soy‐fiber diet were significantly higher than for the other three diets (p <.05). Rats fed the fiber blend at the higher level had a significantly higher percentage of butyrate production than rats fed the other three diets (p <.05). Results indicate that the fiber blend increases fecal bulk, has no negative effect on growth or retention of calcium and magnesium, does not affect iron balance when fed at 3.4 g of total dietary fiber/8 fluid oz, and enhances butyrate production (Journal of Parenteral and Enteral Nutrition 18:340–345, 1994)
Intravascular Stents in the Management of Acute Superior Vena Cava Obstruction of Benign Etiology
Authors: Rosenblum Jordan , Leef Jeffrey , Smith Richard Messer , Tomiak Myrosia , Bech Fritz
Published: January 2017

The purpose of our study was to report our experience with percutaneous placement of intravascular stents to relieve venous occlusion in patients with acute superior vena cava syndrome resulting from benign etiologies. Six patients ranging in age from 39 to 66 years received thrombolysis followed by placement of stents within the superior vena cava or received stent placement alone as emergency treatment for symptoms of acute superior vena cava obstruction. Treatment was successful in all patients, with establishment of a patent lumen angiographically, and patients experienced prompt symptomatic relief. Follow‐up examination at intervals of 5 months to 2 years has demonstrated no evidence of reocclusion. Three patients have subsequently had central lines placed across the stented vena cava for vascular access. Percutaneous placement of intravascular stents to treat acute occlusion offered a safe and effective method of treatment in patients with superior vena cava syndrome resulting from benign causes. Journal of Parenteral and Enteral Nutrition 18:362–366, 1994)
Nutrition and Wound Healing
Authors: Albina Jorge E.
Published: January 2017

A role for nutrition therapy in the regulation of wound healing has been predicated on two concepts. The first is that malnutrition increases the risk of wound‐related complications. The second is that dietary intervention, either in the form of complete nutrition support or as single nutrient supplementation, can improve or accelerate the wound‐healing response. Although frequently stated and extensively discussed, these two concepts are not supported by objective data. (Journal of Parenteral and Enteral Nutrition 18:367–376 1994)
Remarriage: Some Recent Changes and Variations
Authors: Glick Paul C.
Published: January 2017

THE upward trend in divorce during the last two decades and the high rate of remarriage after divorce have increased interest in the demographic aspects of remarriage. Factors associated with the increase in divorce and remarriage and with variations in remarriage among those in different social and economic groups are considered. As many young adults born during the baby boom postpone marriage, and as the divorce rate has risen, more of the marriages now are remarriages and are occurring in their late twenties and thirties. College women are shown to be more likely to marry late or never. The father is reported to be more likely to have custody of the children after divorce if the mother has remarried. Remarriage after divorce varies positively with income level for men and varies negatively with both education and income for women.
Effects of Children on Women's Remarriage Prospects
Authors: Koo Helen. P. , Suchindran C. M.
Published: January 2017

LIFE table analyses of data for white women from the 1975 Current Population Survey showed that the effects of the number of children women had at divorce on their remarriage probabilities depended on the women's age at divorce. Among women divorcing before age 25, being childless increased the likelihood of remarriage; but among women divorcing at 35 or older, having no children decreased it. For women divorcing at age 25 to 34, there was no effect. The failure of previous studies to take into account this interaction between children and age of woman at divorce, along with other problems discussed and corrected in the article, may explain the conflicting results obtained by earlier research.
Remarriage and Well-Being: National Survey Evidence of Social and Psychological Effects
Authors: Weingarten Helen
Published: January 2017

THE influence of remarriage after divorce on psychological well-being and readjustment to marriage and parenting is examined using data from a national cross-sectional survey. After an initial stage of conventional contingency table analysis, multivariate analysis controlling for sex, education, and length of current marriage is conducted to determine whether remarriage exerts an influence on adjustment net of these contemporary circumstances. Although differences between remarried and first-married individuals are found with respect to past distress and feelings of family role inadequacy, the remarried appear similar to first-marrieds in most aspects of current well-being and marital and parental role adjustment. It is concluded that the remarried have mastered the crisis of divorce and have developed a viable pattern of affective and role functioning.
Conceptualisation in economics: How it has come to shape the main progress measures
Authors: Natoli Riccardo
Published: January 2017

The acceptance of a particular theory impacts the type and directions of linkages between factors. Consequently, the importance of choosing a theory becomes crucial as it literally serves to shape the way one analyses the world. How then, does one go about choosing an appropriate theory to explain a given phenomenon? While most epistemic privilege is commonplace and uncontroversial, claims of epistemic privilege over contested topics such as the definition and measurement of progress are clearly not. In this sense, knowledge is recognised as being both partial and subjective. This raises another important issue. If different standpoints and assumptions allow a measure to see only certain things, then conversely these same standpoints and assumptions must hide other things. Thus, anyone undertaking a review of progress measurement should not only consider what the measure analyses, but more > importantly, what it fails to analyse. This is what this paper intends to do since progress indicators act as a crucial guide for national policy decision-making.
“I Wish Someone Would Help Me Write this Song”: or, the Efficient Allocation of Resources in Rock Bands1
Authors: Balestrino Alessandro , Ciardi Cinzia
Published: January 2017

Economics, they say, can explain (almost) everything. In this paper, we argue that with a little help from its friends - that is, borrowing a few insights from psychology and sociology - economics can explain also why certain rock bands have had more success than others. We argue that the two most successful rock bands of all times in terms of album sales - Led Zeppelin and Pink Floyd - have both relied on an efficient internal organisation in which productive tasks were allocated according to the principle of comparative advantage. We also note that efficient organisational structures are difficult to achieve and to maintain in the case of rock bands. Finally, we suggest that our analysis yields valuable insights for the study of the internal organisation of productive teams without a pre-ordained hierarchical structure.
Discussion Paper An Assessment of the Criticisms of the Principle of Profit Maximization
Authors: Itang'ata Mukaria J.
Published: January 2017

This brief paper outlines the basis of the criticisms of the principle of profit maximization. Further it attempts to assess the validity of the criticisms of the principle of profit maximization as it relates to theory of the firm. Its conclusion is that there is no evidence of a single and comprehensive alternative model or theory that inclusively cover firms working under different market conditions such as perfect competition, monopoly, monopolistic competition and oligopoly.
China’s Development of Accounting Practices During Economic Reform
Authors: Yuen Chin Yau Laurence , Lu Yunshi Wendy
Published: January 2017

Since economic reform, accounting practices have progressively moved from accountability to governments and control over economic activities to various forms of economic entities. The development of Chinese accounting practices is to serve enterprises and the market, which are the micro organs of the national economy. This paper reviews the economic reform in the Mainland, and the reform of Chinese enterprises, legal environment, foreign direct investment and securities markets which have been contributing to the development of accounting practices. It also suggests that the Chinese Government should advance the new accounting standards to all business enterprises in order to ensure consistency. The continuous economic reform will certainly elevate industrial accounting, which calls for more stringent corporate governance to reduce corporate frauds.
Semiotics of Financial Marketplace
Authors: Schinckus Christophe
Published: January 2017

While finance has been concerned by expanding new information technology and mass media’s interest, it has made stunning progress in the last decades, both in practice and in theory. Financial reality is become more and more complex and new theoretical approaches have emerged to explain this evolution. Inspired by post-structuralism, this paper proposes a semiotic perspective of financial marketplace to better grasp the reciprocal link between financial interactions and quotations. We show then that each marketplace can be considered as a specific way of organizing financial reality with its own “rules” (as a language with its own “grammar”). Finally, we will see that this semiotic approach provides an interpretative framework to all empirical studies about the reciprocal link between volumes and prices.

JEL Classification: A12, B41, G10.
Institutional Change and Qualitative Research
Authors: Schlüter Achim
Published: January 2017

This paper argues for the use of more qualitative research when analysing institutional change. Institutional change is often complex, context dependant, and deals with new phenomena. It is argued that qualitative data – which is often linked to inductive approaches, completely disavowed since the Methodenstreit – has been used for many new institutional theory developments. The next argument made, is that currently favoured explanations of institutional change indicate that a more intensive and rigorous use of qualitative data is necessary. Many scholars claim that understanding institutional change demands the consideration of multiple rationalities and cognition. To understand these aspects, qualitative data and thereby qualitative methods are required. Many institutional scholars who emphasise the necessity for a qualitative understanding of institutional change processes do not apply their thoughts empirically.

(JEL B40, B52, P48)
“I Wish Someone Would Help Me Write this Song”: or, the Efficient Allocation of Resources in Rock Bands
Authors: Balestrino Alessandro , Ciardi Cinzia
Published: January 2017

Economics, they say, can explain (almost) everything. In this paper, we argue that with a little help from its friends – that is, borrowing a few insights from psychology and sociology – economics can explain also why certain rock bands have had more success than others. We argue that the two most successful rock bands of all times in terms of album sales – Led Zeppelin and Pink Floyd – have both relied on an efficient internal organisation in which productive tasks were allocated according to the principle of comparative advantage. We also note that efficient organisational structures are difficult to achieve and to maintain in the case of rock bands. Finally, we suggest that our analysis yields valuable insights for the study of the internal organisation of productive teams without a pre-ordained hierarchical structure.
Discussion Paper An Assessment of the Criticisms of the Principle of Profit Maximization
Authors: Itang’ata Mukaria J.
Published: January 2017

This brief paper outlines the basis of the criticisms of the principle of profit maximization. Further it attempts to assess the validity of the criticisms of the principle of profit maximization as it relates to theory of the firm. Its conclusion is that there is no evidence of a single and comprehensive alternative model or theory that inclusively cover firms working under different market conditions such as perfect competition, monopoly, monopolistic competition and oligopoly.
Discussion Paper Measuring the Size of the Informal Economy: Some Critical Comments*
Authors: Georgiou George M.
Published: January 2017

There has been a burgeoning number of studies attempting to measure the size of the ‘black’ economy. These are based on a variety of methodologies and provide a range of estimates, not just across countries but within the same countries. This raises a number of issues: What is meant by the term ‘black’ economy? Is it an appropriate description? What is the theory underlying the estimates of informal economic activity? This paper examines these and other issues, and concludes that whilst the existence of what we prefer to call the ‘informal’ economy in most countries is incontrovertible, there is a lack of consensus on the appropriate methodology for estimating its size. More importantly, the large number of studies are simply exercises in measurement without theory, though we are sceptical that even with strong theoretical underpinnings it is possible to provide accurate estimates of a complicated web of informal activities.

JEL Classification: E26, H26, K42.
Book Review: The Great Power Struggle in East Asia, 1944–50, Britain, America and Post-War Rivalry
Authors: Cortazzi Sir Hugh
Published: January 2017

The Great Power Struggle in East Asia, 1944–50, Britain, America and Post-War Rivalry by Christopher Baxter in the series Global Conflict and Security Since 1945. Palgrave Macmillan, 2009, 250 pages including endnotes, bibliography and index ISBN: 978-0-230-20297-9, £55
Book Review: The Political Economy of Natural Gas
Authors: Sweet Colin
Published: January 2017

The Political Economy of Natural Gas; F. Banks, Croom Helm Ltd, 1987, £30, ISBN 0-7099-3940-X
Book Review: The British Economy After Oil: Manufacturing or Services?
Authors: James Simon
Published: January 2017

The British Economy After Oil: Manufacturing or Services? Barker, Terry and Dunne, Paul (eds.) Beckenham: Croom Helm, 1988, pp. xv + 178, £25 hardback. ISBN 0-7099-5064-0.
Competitive Adsorption and Desorption of 2,4-D and PCOC in a Volcanic Soil
Authors: Susarla Sridhar , Bhaskar G.V. , Bhamidimarri S.M. Rao
Published: January 2017

The competitive adsorption and desorption of 2,4-D and PCOC, two of the commonly used phenoxy herbicide chemicals, in a volcanic soil has been examined. A Freundlich-type isotherm incorporating competition between the solutes was used to analyze the adsorption and desorption data. The competition coefficients for 2,4-D and PCOC were linearly dependent on the initial concentration for adsorption and on the amount adsorbed for desorption. The adsorption capacities of 2,4-D and PCOC in a bicomponent system were reduced by 10% and 8%, respectively, in comparison to their single-component values. The desorption studies showed that both 2,4-D and PCOC were difficult to desorb in a bicomponent system.
Quantification of Random Pore Structures of Porous Adsorbents
Authors: Mann R. , Yousef H.N.S.
Published: January 2017

The structure of pore spaces in typical catalyst particles could often be described as being “not so much fabricated as thrown together”. Thus whilst for certain materials, such as zeolites, the microstructures are well defined and have a precise geometry, most materials when used in typical particulate form are at least partly composed of chaotically configured pore spaces. These random pore structures can be important in determining an adsorbent's performance, so it is necessary to define them quantitatively.

A heirarchy of approaches based upon developments from simple stochastic pore networks is described. A stochastic pore network is one in which simple pore segments form interconnecting networks within which pores can be either randomly or partly randomly distributed. Such stochastic networks can be characterised by mercury porosimetry and low-temperature gas adsorption. Interconnectivity and randomness affect the degree of hysteresis for both these techniques. For 3-D random pattern stochastic networks, it is possible to interpret sectioned SEM images using ‘random’ slices of particles subject to low melting point alloy visual porosimetry in order to arrive at measures of random pore structure. This ‘image analysis’ approach is being extended to 3-D image reconstruction of SEM sections using fractal surfaces in conjunction with randomly tortuous pores.
Homogeneous Surface Diffusion Model for the Adsorption of Basic Dyestuffs onto Natural Clay in Batch Adsorbers
Authors: El-Geundi Mohammad S.
Published: January 2017

The adsorption of basic dyestuffs (Basic Blue 69 and Basic Red 22) onto natural clay has been studied using a series of batch adsorption runs. The homogeneous surface diffusion model (HSDM) has been developed based on external mass transfer and surface diffusion to explain the concentration–time curves. A computer program has been used to generate theoretical concentration–time curves and these results have been adjusted to the experimental data by means of a ‘best fit’ approach. The HSDM has been successfully used to model the dynamics of the adsorption process for basic dyestuffs onto natural clay. The model predicts a single external mass-transfer coefficient, Ks, and a single surface diffusion coefficient, Ds, with initial dye concentration or natural clay mass. The Ks values are 3.4×10–3 and 2.6×10–3 cm/s for Basic Blue 69 and Basic Red 22, respectively. The Ds values are 2.3×10–8 and 1.9×10–8 cm2/s for Basic Blue 69 and Basic Red 22, respectively.
Adsorptive and Membrane-Type Separations: A Bibliographical Update (1997)
Authors: Ray Martyn S.
Published: January 2017

This paper provides a bibliography of the 1997 journal literature for adsorptive and membrane-type separations. The references are taken from the 50 most important chemical engineering journals. This paper provides an update to the literature as provided in previous bibliographic papers (Ray 1990, 1991. 1994, 1995, 1996a,b, 1997). A new edited book (Dabrowski 1998) concerned with adsorption and related separations also contains extensive bibliographies prepared by this author. A complete bibliographic listing of the chemical engineering journal literature from 1959 to 1997 (with subsequent six-monthly updates) is available on a CD-ROM database and full details can be obtained from the author.

The papers included here have been divided into the following subject groups: theory; design data; adsorbents; PSA and cyclic systems, and applications; liquid-phase adsorption; ion exchange, chromatography and related separations; membranes; and membrane-type separations.
Catalytic Decomposition of H2O2 over a γ-Irradiated CuO–ZnO/Al2O3 System
Authors: Fagal Gehan A. , Attia Amina A. , El-Shobaky Hala G.
Published: January 2017

A CuO–ZnO/Al2O3, catalyst sample was prepared by wet impregnation methods using Al(OH)3, zinc and copper nitrate solutions followed by drying at 110°C and calcination at 600°C. The nominal molar composition of the resulting material was calculated to be 0.25CuO · 0.03ZnO/Al2O3 Samples of this solid were exposed to varying dosages of γ-irradiation (20–160 Mrad) and the effect of such treatment on their surface characteristics and catalytic activity investigated using nitrogen adsorption studies at −196°C and studies of the decomposition of H2O2 at 30–50°C.

The results obtained indicate that doses of γ-rays up to 80 Mrad had no significant effect on the specific surface area. SBET, of the supported mixed oxide material although this quantity increased by 20% when the solid was exposed to γ-irradiation doses of 160 Mrad. In contrast, such treatment brought about a progressive decrease in the catalytic activity of the treated catalyst samples. Thus, the reaction rate constant (k) of the catalyzed reaction measured at 50°C diminished from 8 × 10−2 min−1 to 0.3 × 10−2 min−1 on exposure of the supported mixed oxide material to a dose of 160 Mrad. What was surprising was that the activation energy (δE) of the catalytic reaction decreased as a function of the dose employed whereas it should have been expected to increase in the light of the observed decrease in the catalytic activity. This apparent discrepancy was resolved by recalculating the values of ΔE taking into account any possible changes in the pre-exponential factor of the Arrhenius equation brought about by γ-irradiation. The observed decrease in the catalytic activity due to treatment with γ-rays was attributed, mainly, to the enhanced removal of Brönsted acid centres by the action of such irradiation.
Comparative Adsorption of Cationic and Anionic Surfactants on Fluorite
Authors: Yehia Ahmed , Atia Asem A. , Ateya Badr G.
Published: January 2017

The adsorption behaviours of cetyltrimethylammonium bromide (CTAB) and dioctyl sodium sulphosuccinate (AOT) on fluorite mineral were analyzed as examples of the adsorption of cationic and anionic surfactants on salt-type minerals. Although both surfactants gave adsorption densities well below the monolayer capacity, there were considerable differences between the behaviours of the two surfactants. Thus, while the adsorption density of CTAB increased to a plateau value, that of AOT increased to a maximum before decreasing to very low values at high equilibrium concentrations of the surfactant.

Analysis of the behaviour of the surfactants was made using a modified version of the Frumkin adsorption isotherm, taking into account the cross-sectional area of the adsorbed surfactant species and the lateral interaction between their long hydrocarbon chains. The values of the free energy change indicated that both CTAB and AOT underwent adsorption via a physical process, while the lateral interaction coefficient was found to be twice as large in the case of AOT as for CTAB for small or moderate coverage. This latter behaviour was attributed to the fact that while CTAB possesses only one hydrocarbon chain per molecule, AOT has two such chains.