bluuebunny/crossref_metadata_2025 huggingface dataset:
Efficacy of ACC (1-aminocyclopropane-1-carboxylic acid) as a Chemical Thinner Alone or Combined with Mechanical Thinning for Japanese Plums (Prunus salacina)
Authors: Theron Karen Inge , Steenkamp Human , Steyn Willem Jacobus
Published: February 2017

Thinning is a labor-intensive and expensive, but important practice in japanese plum production requiring new thinning strategies. The purpose of this study was to evaluate a new chemical thinner 1-aminocyclopropane-1-carboxylic acid (ACC) on ‘Laetitia’, ‘Fortune’, and ‘African Rose™’. ACC was also combined with 6-benzyl adenine (6-BA) and in one season on ‘African Rose™’ with mechanical thinning using the Darwin 300™ or hand thinning during bloom. All the foliar applications were made when the average fruitlet diameter was 7–10 mm using a spray volume of 1000 L·ha−1 under slow drying conditions. Significant thinning effects were found in all the trials conducted over the two seasons. ACC consistently reduced the hand-thinning requirement at commercial hand thinning in both seasons in ‘African Rose™’. In the second season there was a linear decrease in yield and an increase in fruit size as the ACC rate increased from the low to medium rate before flattening off. The combination treatment of ACC and the Darwin 300™ used in the ‘African Rose™’ trial thinned more aggressively, improved fruit size and shifted harvest earlier. The yield however was not lower than that of the control treatment. 6-BA was included in all trials to prevent ACC-induced leaf drop, and generally did not thin fruitlets, except in the case of ‘Laetitia’ where the combination with ACC resulted in stronger thinning. Cultivars differed in their sensitivity to ACC and the rate for each cultivar should be determined separately. The recommended ACC rate for ‘African Rose™’ would be 600 µL·L−1 and for ‘Laetitia’ 400 µL·L−1. For ‘Fortune’ a rate recommendation is not possible at this stage, thus further trials should be conducted. No broken stones were observed in fruit in any trial. Also, no leaf drop/phytotoxicity was recorded in any trial when ACC was applied during cool, slow-drying conditions.
Аналіз причин інвалідизації постраждалих із психологічною травмою внаслідок ДТП
Authors: Nazarenko I.I. , Ivanov V.I. , N.I. Iskra
Published: February 2017

Метою роботи було визначення причин інвалідизації в постраждалих із психологічною травмою внаслідок дорожньо-транспортної пригоди. Матеріали і методи. Проведено огляд сучасної фахової літератури та повідомлень державних установ, що здійснюють судово-медичну експертизу, стосовно визначення причин інвалідизації постраждалих із психологічною травмою внаслідок дорожньо-транспортної пригоди. Результати. Встановлено, що дорожньо-транспортна пригода є потужним стресовим фактором, що впливає на психологічний стан людини, соціальну та професійну адаптацію, міжособистісні стосунки й може призвести до інвалідизації постраждалих осіб. Посттравматичний стресовий розлад є одним із можливих психологічних наслідків переживання травматичного стресу після дорожньо-транспортної пригоди, діагноз «посттравматичний стресовий розлад» повинен бути врахований при визначенні групи інвалідності постраждалого. Висновки. Розкрито потребу в удосконаленні методичних рекомендацій та впровадженні змін у нормативно-правові акти щодо надання кваліфікованої медичної та психологічної допомоги на госпітальному етапі лікування та реабілітації, з подальшим визначенням групи інвалідності постраждалим із психологічною травмою після дорожньо-транспортної пригоди при проведенні ­медико-соціальної експертної комісії.
Добовий профіль артеріального тиску та жорсткість каротидних артерій у хворих з офісно контрольованою артеріальною гіпертензією в поєднанні з ревматоїдним артритом
Authors: Kuriata O.V. , Sirenko O.Yu.
Published: February 2017

Мета дослідження. Визначення особливостей добового профілю артеріального тиску та показників жорсткості каротидних артерій у пацієнтів із артеріальною гіпертензією (АГ) у поєднанні з ревматоїдним артритом (РА). Матеріали та методи. Обстежено 62 хворих (6 чоловіків, 56 жінок) віком 45–65 років (медіана — 54 [51; 60] роки) з АГ та достатнім офісним конт­ролем АТ. Першу групу дослідження становили 42 хворі на АГ у поєднанні з РА низької активності захворювання та стабільно дібраною терапією, другу групу — 20 хворих на АГ без супутнього РА. Всім пацієнтам проводили загальноклінічне обстеження, ультразвукове дослідження каротидних судин із визначенням товщини комплексу інтима-медіа, пружно-еластичних властивостей, добове моніторування артеріального тиску. Результати. Визначені порушення пружно-еластичних властивостей каротидних артерій у 38 (90,5 %) пацієнтів із АГ у поєднанні з РА, які мали достовірно вищі показники індексу жорсткості, модулю Петерсона та достовірно нижчий рівень коефіцієнту розтяжності, модуля Юнга порівняно з групою ізольованої АГ (р < 0,05). У 32 (76,2 %) пацієнтів із поєднаним перебігом АГ та РА визначені порушення показників добового моніторування артеріального тиску (ДМАТ). Рівень середньонічного ДМАТ, добової варіабельності ДМАТ, швидкості ранкового підвищення артеріального тиску, ступінь нічного зниження ДМАТ були достовірно вищими у хворих першої групи — 74,81 [69,34; 77,27] мм рт.ст.; 14,08 [12,15; 15,89] мм рт.ст.; 11 [8; 14] мм рт.ст./год; 11,23 [9,52; 13,69] % відповідно (р < 0,05). Середньодобова варіабельність систолічного артеріального тиску (ВСАТ) і діастолічного артеріального тиску (ВДАТ) перевищувала нормативні значення в більшості пацієнтів із АГ у поєднанні з РА — 32 (76,2 %) та 29 (69,1 %) відповідно, що достовірно частіше, ніж у групі ізольованої АГ (р < 0,05). 21 (50 %) і 4 (20 %) пацієнти першої та другої груп мали профіль артеріального тиску «нон-дипер» (р < 0,05). Пацієнти зі встановленими змінами пружно-еластичних властивостей каротидних артерій мали достовірно вищі показники ВСАТ, ВДАТ, індексу часу (ІЧ) САТ, ІЧ ДАТ. Висновки. У більшості хворих з поєднанням АГ і РА встановлені зміни добового профілю артеріального тиску та порушення пружно-еластичних властивостей каротидних артерій, що достовірно частіше порівняно з групою ізольованої АГ. Артеріосклеротичне ремоделювання каротидних артерій при поєднанні АГ з РА асоціювалось зі змінами показників ВДАТ, ІЧ, ступеня зниження артеріального тиску.
Кальцинуючий стеноз аортального клапана: сучасні підходи до діагностики, медикаментозного та хірургічного лікування
Authors: Skybchyk V.A. , Melen Yu.P.
Published: February 2017

В статті розкриті етіологічні і патогенетичні аспекти виникнення кальцинуючого стенозу аортального клапана. Автори детально висвітлюють сучасну класифікацію, критерії діагностики і вибору тактики лікування у даної когорти пацієнтів згідно з сучасними рекомендаціями.
The 3-Year Incidence of Gout in Elderly Patients with CKD
Authors: Tan Vivian S. , Garg Amit X. , McArthur Eric , Lam Ngan N. , Sood Manish M. , Naylor Kyla L.
Published: February 2017

Background and objectives

The risk of gout across CKD stages is not well described.

Design, setting, participants, & measurements

We performed a retrospective cohort study using linked health care databases from Ontario, Canada from 2002 to 2010. The primary outcome was the 3-year cumulative incidence of gout, on the basis of diagnostic codes. We presented our results by level of kidney function (eGFR≥90 ml/min per 1.73 m2, 60–89, 45–59, 30–44, 15–29, and chronic dialysis) and by sex. Additional analyses examined the risk of gout adjusting for clinical characteristics, incidence of gout defined by the receipt of allopurinol or colchicine, and gout risk in a subpopulation stratified by the level of eGFR and albuminuria.

Results

Of the 282,925 adults aged ≥66 years, the mean age was 75 years and 57.9% were women. The 3-year cumulative incidence of gout was higher in older adults with a lower level of eGFR. In women, the 3-year cumulative incidence of gout was 0.6%, 0.7%, 1.3%, 2.2%, and 3.4%, and in men the values were 0.8%, 1.2%, 2.5%, 3.7%, and 4.6%, respectively. However, patients on chronic dialysis had a lower 3-year cumulative incidence of gout (women 2.0%, men 2.9%) than those with more moderate reductions in kidney function (i.e., eGFR 15–44 ml/min per 1.73 m2). The association between a greater loss of kidney function and a higher risk of diagnosed gout was also evident after adjustment for clinical characteristics and in all additional analyses.

Conclusions

Patients with a lower level of eGFR had a higher 3-year cumulative incidence of gout, with the exception of patients receiving dialysis. Results can be used for risk stratification.
Criações docentes e o papel do ensino de Ciências no combate ao racismo e a discriminações
Authors: Verrangia Douglas
Published: February 2017

Este texto busca identificar concepções e práticas de um grupo de docentes, participantes de um curso de formação continuada, relativas ao combate ao racismo por meio do ensino de Ciências. Dito de outra forma, buscou-se compreender o papel assumido pelas aulas de Ciências na educação de relações étnico-raciais justas entre os/as estudantes. A metodologia utilizada, inspirada na fenomenologia de Merleau-Ponty, contribuiu para identificar que os processos educativos são produzidos nas experiências e no pensar sobre o vivido, em espaços marcados pelas relações sociais: étnico-raciais, de gênero e de classe social. Ao percorrer o caminho trilhado para atingir o objetivo do estudo, foram reveladas formas – conteúdos, posturas, atividades – pelas quais o ensino de Ciências pode contribuir para uma educação mais ética.
HOW TO IMPLEMENT ISLAMIC BANKING'S CSR IN THE SOCIETY?
Authors: Yusuf Muhammad Yasir
Published: February 2017

The concept of CSR began in the West in the 1970s and discussions on the concept of CSR often focused on the view that is founded on the norms, cultures, and beliefs of the West. The Western perspective of CSR has become common practice for a corporate to run CSR programs. One of the goals of Islamic banking operations is to increase the economic growth towards a better and just society. Therefore, Islamic CSR in IBIs should be underpinning on Islamic philosophy that differs from a western perspective. This study aims to examine the implementation of Islamic CSR in IBIs in society base on an underpinning of Islamic philosophy. This study relies on secondary data to explore the basic sources of Islam using content analysis. The study found that the implementation of Islamic corporate social responsibility on IBIs in the society should be guided by two Islamic principles, first, the application of maslahah (the public good) which provides a better framework that managers can use when faced with potential conflicts arising from diverse expectations and interests of any corporation's stakeholders. Secondly, the corporate social responsibility program should pay more attention to the importance of social capital in society. The corporate social responsibility practices in Islamic banking should not only be based on responsibility al kifayah (obligatory upon the community) and get a positive corporate image but can also be deemed as a method to alleviate poverty and achieve the true economic goals of Islam. ========================================================================================================Konsep CSR dimulai di Barat pada era 1970-an sehingga bahasan CSR seringkali dipengaruhi oleh norma-norma, budaya dan keyakinan masyarakat Barat. Pandangan ini kemudian mempengaruhi praktik banyak perusahaan dalam program CSR-nya. Dalam Islam, perusahaan seperti Institusi Perbankan Syariah (IPI) diarahkan untuk meningkatkan pertumbuhan ekonomi umat dengan adil dan merata sehingga pelaksanaan CSR dalam filosofi Islam berbeda dengan konsep Barat. Artikel ini bertujuan untuk menguji implementasi CSR Islam dalam IPI yang dilaksanakan berdasarkan filosofi Islam. Kajian ini menggunakan data sekunder untuk mengeksplorasi sumber-sumber dasar Islam yang kemudian dianalisis dengan content analysis. Hasil kajian menunjukkan bahwa implementasi CSR Islam dalam IPI dipandu oleh dua prinsip Islam, pertama, maslahah yang memberikan kerangka kepada para manager untuk bertindak secara lebih baik dalam kondisi yang tidak menentu. Kedua, program CSR dalam IPI harus menitikberatkan pada social capital masyarakat. Jadi, praktik CSR dalam IPI tidak hanya berdasarkan al-kifayah (kewajiban atas masyarakat) dan memperoleh citra positif tetapi juga sebagai metode dalam mengentaskan kemiskinan dan mencapai tujuan-tujuan ekonomi dalam Islam.
ISLAMISASI ILMU EKONOMI: ANALISA KOMPARATIF KURIKULUM JURUSAN SMI IAIN AR-RANIRY DAN JURUSAN EKONOMI IIUM
Authors: Furqani Hafas
Published: February 2017

There is a growing trend in the Muslim world to restructure modern knowledge and discipline in line with Islamic epistemological principles. Islamic economics, in particular, receives wide attention among scholars. Islamic economics is currently moving from a mere discourse on economics in Islamic perspective towards becoming a distinct discipline marked by a complete body of knowledge, clear subject matter, methodology/methodologies to appraise theories and continuous growing of knowledge. At the practical level, the universities all around the world are offering various subjects on Islamic economics and finance. There are significant attempts have been made to structure new framework of economics curriculum by incorporating various discipline of Islamic economics. The paper attempts to observe and survey the Islamization of knowledge program at the International Islamic University Malaysia and IAIN Ar-Raniry Banda Aceh Indonesia. A comparative analysis of the teachings and syllabus of Islamic economics, banking, and finance in both universities will be made. Some recommendations on the structure and program of Islamic economics at IAIN Ar-Raniry which is going to be officiated as Islamic University will also be outlined.

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Saat ini sedang berkembang tren di dunia muslim untuk merestrukturisasi pengetahuan modern dan disiplin sesuai dengan prinsip epistemologis Islam. Ekonomi Islam, khususnya, mendapatkan perhatian luas di kalangan ilmuwan. Ekonomi Islam saat ini bergerak dari sekadar wacana tentang ekonomi dalam perspektif Islam menjadi disiplin yang berbeda ditandai dengan tubuh pengetahuan yang lengkap, materi pelajaran yang jelas, metodologi untuk menilai teori dan pengetahuan yang tumbuh secara terus-menerus. Pada tingkat praktis, saat ini universitas di seluruh dunia saat ini menawarkan berbagai mata pelajaran ekonomi dan keuangan Islam. Ada upaya-upaya signifikan yang telah dilakukan untuk membangun kerangka kerja baru kurikulum ekonomi dengan memasukkan berbagai disiplin ilmu ekonomi Islam. Makalah ini mencoba untuk mengamati dan menyurvei Islamisasi program pengetahuan pada International Islamic University Malaysia dan IAIN Ar-Raniry Banda Aceh Indonesia. Sebuah analisis komparatif pada ajaran-ajaran dan silabus ekonomi Islam, perbankan dan keuangan di kedua universitas akan dibuat. Beberapa rekomendasi tentang struktur dan program ekonomi Islam di IAIN Ar-Raniry yang akan diresmikan sebagai Universitas Islam juga akan diuraikan.
ISLAMIC VALUE-DRIVEN COOPERATION IN SKILLS ACQUISITION AND MOBILITY FOR EMPOWERING MARGINAL SOCIETY
Authors: Shahabuddin Abu Saim Mohammad , Islam Muhammad Hedayatul
Published: February 2017

Islam exhorts for cooperation in righteous and God conscious acts. This exhortation has individual and institutional implications for efforts geared towards promoting the welfare of less privileged marginal segment of society. Conceiving an institutional form of cooperation, this paper proposes and explains a program which will target at empowering this segment. The program is for developing non-professional skills which have to be founded on and inspired by the Islamic principles of cooperation and self-reliance. As non-professional skills are mostly learned informally and on-the-job, business houses will be the cooperator who will provide platforms for training. Members of a marginal segment of society will be the beneficiaries who will receive training for acquiring job skills and mobility towards achieving their self-reliance. Government organ will be a facilitating party that shall provide support for the collaborative venture to occur and sustain. Apart from Islamic principles of cooperation and self-reliance, this paper will draw upon the theory of social learning, theory of conforming to group norms and doctrine of market supervision (al-Hisbah) in Islamic civilization to expound the role of the triadâ€”the cooperator, the beneficiaries, and the facilitatorâ€”in achieving the major outcomes of the program.

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Islam mendorong kerjasama dalam kebaikan dan bertindak semata-mata karena Allah. Dorongan ini memiliki implikasi individual dan institusional dalam upaya mensejahterakan masyarakat marjinal yang kurang beruntung. Dalam suatu bentuk upaya kerjasama secara institusional, artikel ini menawarkan dan menjelaskan suatu program yang akan menargetkan dalam memberdayakan segmen ini. Program ini bertujuan untuk mengembangkan keterampilan non-professional yang dibentuk dan didorong oleh prinsip-prinsip Islam dalam kerjasama dan kemandirian. Keterampilan non-professional sebagian besar dipelajari secara informal dan disaat bekerja, tempat-tempat bisnis akan menjadi pembuat kerjasama yang akan menyediakan platform untuk pelatihan. Para anggota masyarakat di segmen marjinal ini akan menjadi penerima manfaat yang akan mendapatkan pelatihan untuk mendapatkan keahlian kerja dan mobilitas untuk mencapai kemandirian. Institusi pemerintah yang berkaitan akan menjadi fasilitator yang akan menyediakan dukungan bagi skema kolaboratif agar dapat diwujudkan dan berkelanjutan. Selain dari prinsip- prinsip kerjasama dan kemandirian dalam Islam, paper ini akan mengutip teori pembelajaran sosial, teori sesuai dengan norma-norma kelompok dan doktrin pengawasan pasar (Al-Hisbah) dalam peradaban Islam guna menjelaskan peranan tiga pihak yaitu pembuat kerjasama, penerima manfaat, dan fasilitator dalam upaya mencapai hasil-hasil utama dalam program tersebut.
ISLAMIC MICROFINANCE AND POVERTY ALLEVIATION PROGRAM: PRELIMINARY RESEARCH FINDINGS FROM INDONESIA
Authors: Suzuki Yasushi , Pramono Sigit , Rufidah Rufidah
Published: February 2017

Poverty should be defined, measured, and scrutinized its root causes from a multi-dimension perspectives. Therefore, in designing and implementation of poverty alleviation program, it should consider economic factors, social and political contexts surrounding the poor. Sen (1982; 1999) views poverty as a multifaceted world and ethical dimension essentially should be placed underpinning it as a vital economic problem. The paper takes the stance that the poor themselves have potential capacity to alleviate their condition in resolving poverty trap. Community development program is one of the strategies to deal with the poverty problem. Islamic microfinance can play an important role in combating poverty dilemma especially in Muslim majority population communities. Through the approach proposed by Bigg and Satterthwaite (2005) with strengthening local organizations and community development programs, Islamic microfinance should engage a strategic partnership with the Masjid and Islamic charity institutions (zakat and waqf organization). This strategic alliance will result more integrated programs and also capacity building of the institutions involved. This paper aims to contribute a grass root model in the purpose of combating poverty in the framework of Islamic economic system.

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Kemiskinan harus didefinisikan, diukur, dan diteliti akar penyebabnya dari berbagai perspektif. Oleh karena itu, dalam merancang dan mengimplementasikan program pengentasan kemiskinan, faktor-faktor ekonomi, konteks sosial dan politik yang mengelilingi kemiskinan juga harus dipertimbangkan. Sen (1982; 1999) memandang kemiskinan sebagai sebuah dunia yang kompleks, dan dimensi dasar etika harus ditempatkan sebagai sebuah masalah ekonomi yang vital. Peneliti sendiri dalam hal ini berpandangan bahwa orang-orang miskin pada dasarnya punya kapasitas yang memadai untuk keluar dari garis kemiskinan. Salah satunya adalah dengan program pengembangan masyarakat yang merupakan satu strategi dalam pengentasan kemiskinan. Keuangan mikro syariah dapat memainkan peran penting dalam memerangi dilema kemiskinan, khususnya di daerah-daerah yang mayoritas penduduknya Muslim. Pendekatan yang diusulkan oleh Bigg dan Satterthwaite (2005) adalah dengan cara penguatan organisasi lokal dan program pengembangan masyarakat dimana keuangan mikro syariah harus terlibat dalam kemitraan-kemitraan strategis dengan masjid-masjid dan lembaga-lembaga sosial lainnya (seperti lembaga zakat dan wakaf). Aliansi strategis ini akan menghasilkan program-program yang lebih terintegrasi dan juga ada penguatan capacity building dari lembaga-lembaga yang terlibat. Makalah ini bertujuan untuk berkontribusi dalam memberikan model akar rumput dalam hal pengentasan kemiskinan dalam kerangka sistem ekonomi Islam.
Organizational peculiarities of bank liquidity management: international experience and Ukrainian practice
Authors: Riabichenko Dmitriy
Published: February 2017

Organizational component of liquidity management system is certainly formed under the influence of existing organizational stracture and subordinational links between the main governance structures of the bank. Taking into account the fact that Ukrainian legislation is developing very fast in order to implement the main international principles and best practices of banking regulation. Hovewer, national regulatory framework in the sphere of corporate governance and risk management in banks is still very weak. The main aim of this paper is to highlight the organizational peculiarities of such governance structures in banks as the board of directors, board committees (which operates on the strategic level) and bank’s treasury (which is involved in day-to-day management process) and compare the Ukrainian practice of functioning of these structures with foreign experienceto give precise recommendations concerning the issues of development of the organizational component of bank liquidity management system in Ukraine.
The analytical assessment of some Middle East corporate governance standards after the global crisis
Authors: Ngoc Huy Dinh Tran
Published: February 2017

The purpose of this paper is to present a set of comparative corporate governance standards in some Middle East countries including: Turkey, UAE, Saudi Arabia plus IIFS Code (Institutions offering Islamic financial services). There are strengths and weaknesses in these codes or practices which will be identified in this paperwork. Therefore, this paper not only identifies different points in latest corporate governance standard principles and systems in the above three (3) countries, but also provides with a summary of evaluation of current corporate governance systems in these above countries which may enable relevant organizations in re-evaluating their current ones. Last but not least, it aims to illustrate a limited comparative set of standards of Middle East corporate governance, and give proper recommendations to relevant governments and institutions toward a sustainable practices in business life.
A financial risk and fraud model comparison of Bear Stearns and Sehman Brothers: was the right or wrong firm bailed out?
Authors: Grove Hugh , Clouse Maclyn
Published: February 2017

In March 2008, the US government bailed out a failing Bear Stearns by arranging a sale to JP Morgan Chase, with US government guarantees for many Bear Stearns’ toxic assets that came with the acquisition. In September 2008, the US government failed to bail out a failing Lehman Brothers, which then went into bankruptcy. Soon thereafter, the US government established a bailout program for many other failing financial institutions. This paper uses financial risk and fraud models to attempt to answer the question as to why Bear Stearns was bailed out, but Lehman Brothers was not. Based on the analysis, was the right or wrong firm bailed out? In summary, these financial risk and fraud models show potential for developing effective risk management monitoring and stronger corporate governance in order to enhance relationships between management, financial reporting, and the stability of the economic system in crisis and post-crisis conditions.
Re-evaluating the effectiveness of auditing standard no. 2: longitudinal analysis of restatements and the outcome of auditor litigation in lawsuits filed from 1996 to 2009
Authors: Demirkan Sebahattin , Fuerman Ross D.
Published: February 2017

We provide evidence of the impact of Auditing Standard No. 2 (“AS 2”), issued pursuant to the Sarbanes-Oxley Act of 2002 (“SarBox”), on the outcome of auditors in financial reporting litigation. Specifically, we focus on the existence of financial restatements and how and why they affected the outcome of the auditor in the financial reporting lawsuits. Our longitudinal method subjected to year-by-year regression analysis 2,059 financial reporting lawsuits filed from 1996 to 2009. Our results indicate that restatements are positively associated with more severe outcomes for the auditor in lawsuits filed in 2002 and in the years after 2004. However, restatements are not significant in lawsuits filed in 2003 and 2004. Pressure from SarBox Section 906 criminal penalties and Section 302 requirements to disclose material weaknesses, coupled with a lack of guidance to distinguish material weaknesses from significant deficiencies, temporarily and indirectly caused the issuance of a large number of restatements that were not material or comprehensible to participants in the legal system. Thus, they were temporarily unable to use the restatements to inform their litigation behavior. However, after the June 17, 2004, release of AS 2, participants in the legal system were again able to use the restatements to inform their behavior. This suggests that AS 2, notwithstanding its inefficiency, necessitating its subsequent superseding by Auditing Standard No. 5 (“AS 5”), increased audit effectiveness and financial reporting quality by facilitating more accurate identification of material weaknesses
An analysis of integration degree between macroeconomic and financial variables through principal components (2002-2013)
Authors: Tambosi Filho Elmo
Published: February 2017

This work has as its objective to evaluate integration degree of these indexes: Sao Paulo Stock Exchange – IBOVESPA, New York Stock Exchange- Dow Jones, interest rate-SELIC, which fulfills as basic interest rate in Brazil, the civil construction index – CUB and the pricing index to the ample consumer- IPCA, which fulfills as an internal inflation rate in Brazil. The period of analysis was from January 2002 to March 2013. The methodology was principal component analysis (ACP). It shows a high relation degree among SELIC, CUB and IPCA. IBOVESPA and DOW JONES do not present relation with the other variables.
The importance of accurate risk modelling techniques for corporate owners and managers: an application of distribution fitting to illiquid securities
Authors: O’Connell Darren , O’Grady Barry
Published: February 2017

The Normal distribution is both the most commonly cited and highly parameterised of all the known probability distribution functions. This research highlights the importance of probing beyond standard textbook theory which assumes, for risk modelling purposes, that an asset’s return should follow a Normal distribution. Methods of modelling the stochastic price process of two illiquid securities, in order to manage price risk within a simple GARCH Value-at-Risk framework are examined. This analysis was developed using Microsoft Excel, IHS’s EVIews and Palisade’s Decision Tools Suite. These widely used tools are chosen to allow for ease of replication of this analysis for any interested market participant and can be expanded to portfolios of liquid and illiquid assets. By ensuring a strict and efficient risk modelling template owners and managers alike are in turn held accountable to all company stakeholders.
What determines audit independence and expertise in Russia? Firm-level evidence
Authors: Iwasaki Ichiro
Published: February 2017

Using a unique dataset of joint-stock companies, we explore the corporate audit system in transition Russia. In comparison with companies in Western and Asian Pacific states, Russian firms have a weaker audit system in terms of the independence and expertise of the audit committee and the external auditor. Board composition, foreign investment, and affiliation with a business group are highly important factors determining audit committee composition and audit firm choice as well as a combination of the two auditing bodies. However, each of these factors has a clearly distinct impact. Moreover, empirical evidence suggests that government ownership, company size, fund procurement activities, and overseas advancement significantly affect audit independence and expertise in Russia.
The elite and their boards of directors
Authors: Carminatti-Marchand Géraldine , Paquerot Mathieu
Published: February 2017

Most of studies on corporate governance are based on the Anglo-Saxon view. However in France the majority of the top managers graduate from Ena and Polytechnic. Belonging to one or the other of these two clans, with the underlying link to the civil service, can have serious repercussions on the system of corporate governance. The clan tries to increase their power in the firms. In order to do this, it needs to control firms’ leaders, but also the board of directors. The control of the board allows the system to master all shareholders’ objections. It is also a means to widen its influence. This study proposes an analysis of the links between the characteristics of leaders and boards as well as the consequences of this control of the clan on the performance of the firm.
The effects of board characteristics on earnings management
Authors: Kao Lanfeng , Chen Anlin
Published: February 2017

This paper examines the relationship between board characteristics and earnings management. Management of a firm may engage in earnings management for his own benefit. However, under proper corporate governance mechanism, the board of directors might be able to monitor the firm and prevent the management from engaging in earnings management. We find that when the board size is large, the higher the extent of earnings management. However, when there are more outside directors in the board, the extent of earnings management is lower. The effects of board characteristics on earnings management are significant only for group affiliation firms or non-electronic firms.
Corporate social disclosure by banks and finance companies: Malaysian evidence
Authors: AbdulHamid Fathilatul Zakimi
Published: February 2017

This paper provides empirical evidences on the corporate social disclosure practice in the highly regulated industries namely banking and finance. In response to prior literature, research in specific industry will allow the researcher to see some specific pattern in disclosure theme for those industries because all social disclosure items were treated equally. Result from the study on disclosure theme shows that product related disclosure was highest. It may indicate some important issues taking place in the period under study. Furthermore, the result of the hypothesis testing shows that size, listing status and age of business appear to significantly influence the disclosure practice and may conforms to legitimacy theory postulate. While the profitability variable show insignificant relationship possibly due to prior literature notion that decision to disclose social information is related to public pressure variable rather than profitability variable. Finally, for the company profiles the result shows negative and insignificant relationship.
Shareholder wealth effects and corporate name change: Evidence from Malaysia
Authors: Karbhari Yusuf , Mohamad Sori Zulqarnain , Mohamad Shamsher
Published: February 2017

This study seeks to evaluate the shareholder wealth effect of corporate name change by Malaysian listed companies. Our sample comprises both failed and non-failed Malaysian companies and standard event study methodology is employed. Our results indicate that corporate name changes have no impact on shareholder wealth unless the announcement is accompanied with news of approved corporate restructuring by Malaysian regulatory authorities. In addition, extraordinary abnormal returns were found on the announcement day for the failed companies group whilst, the sub-sample of non-failed companies experienced a significant low negative abnormal return around the announcement date indicating disapproval of cosmetic name changes. Investors in Malaysia are generally cautious about receiving news of a corporate name change. The study also suggests that the market cannot be fooled by mere name change; such a change must be backed by serious efforts towards recovery.
Should the 4 big replace the big 4? An examination of audit quality using internal audit
Authors: Singh Harjinder , Newby Rick , Singh Inderpal
Published: February 2017

Prior research has linked audit quality with large audit firms. Consequently, a dichotomous variable, Big N/non-Big N has traditionally proxied for audit quality. Applying a different measure of audit quality than audit fee, this study investigates whether a single dummy variable for Big N is an appropriate proxy for audit quality in explaining differences in the existence of clients’ internal audit (IA) function. Results indicate that the existence of clients’ IA function is not consistent among Big 4 firms. This has important research implications for the universal use of a Big N dummy variable as a measure for audit quality.
Impact of corporate ownership and control on firm performance: The Nigerian experience
Authors: Tsegba Ioraver Nyenger , Sar John Iorpenda
Published: February 2017

The main purpose of this study is to ascertain whether alternative corporate ownership and control structures give rise to significant differential firm performance in light of Nigeria’s conflicting polices regarding the ownership structure of the state owned enterprises. The data obtained from a sample of 73 companies listed on the Nigerian Stock Exchange is analyzed through the Wilcoxon ranks tests for two independent samples. The evidence obtained suggests that firms with foreign ownership and control outperform their indigenous counterparts. However, firms controlled by single shareholders do not perform better than those controlled by multiple shareholders. The study recommends that foreign ownership and control of Nigerian firms be encouraged due to their affirmative features, while single shareholder control of firms, embedded in the core investor mode of ownership, is reconsidered.
CEO emotional bias and investment decision Bayesian Network method
Authors: Azouzi Mohamed Ali , Jarboui Anis
Published: February 2017

This research examines the determinants of firms’ investment introducing a behavioral perspective that has received little attention in corporate finance literature. The following central hypothesis emerges from a set of recently developed theories: Investment decisions are influenced not only by their fundamentals but also depend on different factors. One factor is the biasness of any CEO to their investment, biasness depends on the cognition and emotions, because some leaders use them as heuristic for the investment decision instead of fundamentals. Keeping this in view, this paper shows how CEO emotional bias (optimism, loss aversion and overconfidence) effects the investment decisions. I will use Bayesian Network Method to examine this relation. Emotional bias has been measured by means of a questionnaire comprising several items. As for the selected sample, it has been composed of some100 Tunisian executives. Our results have revealed that the behavioral analysis of investment decision implies leader affected by behavioral biases (optimism, loss aversion, and overconfidence) adjusts its investment choices based on their ability to assess alternatives (optimism and overconfidence) and risk perception (loss aversion) to create of shareholder value and ensure its place at the head of the management team.
Different levels of corporate governance and the Ohlson valuation framework: The case of Brazil
Authors: Brugni Talles Vianna , Neto Alfredo Sarlo , Bortolon Patrícia Maria , Góes António Oscar Santos
Published: February 2017

We examine whether Brazilian companies with enhanced corporate governance levels have higher market values according to the model of Ohlson (1995), modified to include variables such as governance level, type of control and shareholding structure. This study produces empirical results based on information taken from the Economática® and Brazilian Securities Commission (CVM) databases, in the period from 2004 to 2010. Multiple linear regressions on panel data is used to analyze a sample of 90 firms through 630 observations. The findings indicate that the addition of governance measures to the model increased its explanatory power, suggesting that nonfinancial information about governance practices and ownership structure also can explain the market value of stocks. The results also indicate that firms with shares traded on the Level 2 and New Market trading segments of the BM&FBovespa, which require enhanced governance practices, are important signals of good governance and consequently increase firms’ market value. The type of control was also positively related to the market value, suggesting that firms under family control and government control are more valuable than companies without concentrated control.
An exploration of board effectiveness in family businesses using a scaling approach
Authors: Bettinelli Cristina , Caviezel Valeria
Published: February 2017

This study addresses the call for the development of team effectiveness scales that take team context into account. It develops and validates a measurement scale for effectiveness in the specific context of boards of directors in family firms. Results from a validation study based on 90 family businesses indicate that even if board task performance is associated with activities and roles that appear to represent differing views of effectiveness, they share a single, common line of inquiry. Moreover the study confirms that boards can be distinguished according to the degree to which they perceive themselves as more or less effective in performing certain roles. The scale demonstrates diagnostic properties that make it useful for practitioners as well as researchers.
SOX 404, Auditor Effort, and the Prevention of Financial Report Misstatements
Authors: Zhao Yuping , Bedard Jean C. , Hoitash Rani
Published: February 2017

Prior research shows that the Sarbanes-Oxley Act (SOX) Section 404(b) integrated audit is associated with a lower incidence of misstatements. We predict that under 404(b), the auditor's ability to detect misstatements increases relative to other internal control regimes when greater resources are exerted during the engagement. Supporting this prediction, we find that the benefits of 404(b) versus other regimes (including SOX 404(a)) in reducing misstatements increase with incremental audit effort (proxied by abnormal audit fees). We find no benefit of 404(b) in misstatement reduction when abnormal audit effort is low. This implies that the value of 404(b) testing is not uniform, but rather is greater when sufficient resources are available to thoroughly understand client controls. In contrast, we find no benefit of abnormal audit effort under other regulatory regimes. We further examine the conditions under which knowledge gained from auditor internal control testing is more valuable. We find that the benefits of increased audit effort under 404(b) do not vary across internal control regimes under AS2 versus AS5, and are more pronounced for engagements with shorter auditor tenure, non-Big 4 auditors, and industry-specialist auditors.

JEL Classifications: M49.

Data Availability: Data used in this study are available from public sources.
Clients' Workplace Environment and Corporate Audits
Authors: Huang Minjie , Masli Adi , Meschke Felix , Guthrie James P.
Published: February 2017

We obtain a novel dataset of workplace satisfaction ratings submitted by about 100,000 employees working for large public U.S. companies. We document that lower workplace ratings are associated with higher audit fees and longer audit report lags. Lower workplace ratings also increase the likelihood of firms receiving modified going concern opinions. Our study shows that organizational workplace environments affect auditor risk assessments and auditing outcomes and provide insights for practicing auditors and corporate executives. Our interviews with practicing auditors at large U.S. accounting firms also provide insights as to how workplace quality affects the corporate audit.

JEL Classifications: G3; J28; M14; M42.
Chemical Interaction Analysis of an Adhesive Containing 10-Methacryloyloxydecyl Dihydrogen Phosphate (10-MDP) With the Dentin in Noncarious Cervical Lesions
Authors: Oliveira BMB , Ulbaldini ALM , Sato F , Baesso ML , Bento AC , Andrade LHC , Lima SM , Pascotto RC
Published: February 2017

The purpose of this study was to evaluate the chemical bonds of a self-etch 10-methacryloyloxydecyl dihydrogen phosphate (10-MDP) adhesive to natural noncarious cervical lesions (NCCLs) and compare them with those occurring in sclerotic dentin in artificially prepared defects (APDs). Four human teeth with natural NCCLs on the buccal surface were selected. Artificial defects matching the natural lesions were prepared on the lingual surface of the same teeth serving as control. Micro-Raman (MR) spectroscopy was used to quantify mineral content in natural NCCLs and in APDs. Fourier transform infrared-photoacoustic spectroscopy (FTIR-PAS) readouts were taken before and after adhesive application to analyze the protein matrix/mineral (M:M) ratio and chemical interactions between 10-MDP adhesive and dentin. The MR and FTIR-PAS spectra collected from natural NCCLs demonstrated a larger area of the band (961 cm−1, PO4) and lower M:M ratio, respectively, characterizing a hypermineralized dentin, compared with APDs. FTIR-PAS demonstrated emergence of a peak (1179 cm−1, P=O) in spectra after adhesive treatment, demonstrating a more intense chemical interaction in natural NCCLs. The results demonstrated that chemical bonding of 10-MDP adhesive to natural NCCLs is more intense, due to the hypermineralized surface, and suggest that it is unnecessary to remove the hypermineralized layer with burs, as this may decrease the chemical bonding potential of 10-MDP.
Kinetics and Mechanism of the Ozone Reaction with Alcohols, Ketones, Ethers and Hydroxybenzenes
Authors:   Institute of Catalysis, Bulgarian Academy of Sciences, 11, Acad. G. Bonchev str., 1113 Sofia, Bulgaria, Rakovsky Slavcho , Anachkov Metody ,   Institute of Catalysis, Bulgarian Academy of Sciences, 11, Acad. G. Bonchev str., 1113 Sofia, Bulgaria, Belitskii Mikhail ,   N.M. Emanuel Institute of Biochemical Physics, Russian Academy of Sciences, 4, Kosygin str., 119334 Moscow,  Russia, Zaikov Gennady ,   N.M. Emanuel Institute of Biochemical Physics, Russian Academy of Sciences, 4, Kosygin str., 119334 Moscow, Russia
Published: February 2017

The review, based on 92 references, is focused on degradation of organics by ozonation and it comprises various classes of oxygen-containing organic compounds – alcohols, ketones, ethers and hydroxybenzenes. The mechanisms of a multitude of ozone reactions with these compounds in organic solvents are discussed in details, presenting the respective reaction schemes. The corresponding kinetic parameters are given and some thermodynamic parameters are also listed. The dependences of the kinetics and the mechanism of the ozonation reactions on the structure of the compounds, on the medium and on the reaction conditions are revealed. Various possible applications of ozonolysis are specified and discussed. All these reactions have practical importance for the protection of the environment.
Sulfur Gas Production in Ukraine (Review)
Authors:   Lviv Polytechnic National University 12, S. Bandera St., 79013 Lviv, Ukraine, Yavorskiy Victor , Slyuzar Andriy ,   Lviv Polytechnic National University 12, S. Bandera St., 79013 Lviv, Ukraine, Kalymon Jaroslav ,   Lviv Polytechnic National University 12, S. Bandera St., 79013 Lviv, Ukraine
Published: February 2017

The state of sulfur gas production in Ukraine has been examined. The major producers and consumers of sulfur, as well as available technologies for gases purification from hydrogen sulfide have been characterized. The necessity of applying new methods of gas cleaning from hydrogen sulfide to form sulfur of special grades has been grounded. The advantages of quinhydrone cleaning method to form fine sulfur have been shown.
Polymer Modified Bitumen: Review
Authors:   Lviv Polytechnic National University 12, S. Bandery St., 79013 Lviv, Ukraine, Pyshyev Serhiy , Gunka Volodymyr ,   Lviv Polytechnic National University 12, S. Bandery St., 79013 Lviv, Ukraine, Grytsenko Yuriy ,   Lviv Polytechnic National University 12, S. Bandery St., 79013 Lviv, Ukraine, Bratychak Michael ,   Lviv Polytechnic National University 12, S. Bandery St., 79013 Lviv, Ukraine
Published: February 2017

The main reasons and ways of bitumen modification by polymers were examined. Positive and negative aspects of the usage of different polymer modifiers (elastomers, thermoplastic elastomers, reactive polymers, thermoplastics) were analysed. The authors’ achievements concerning modification of bitumen by various polymers, namely indene-coumarone, petroleum, phenol-formaldehyde and epoxy resins, were described.
Supercritical Fluid Extraction of Vegetable Materials
Authors:   Wroclaw University of Science and Technology, Faculty of Chemistry, 7/9 Gdanska St., 50-344 Wroclaw, Poland, Kulazynski Marek , Stolarski Marek ,   Wroclaw University of Science and Technology, Faculty of Chemistry, 7/9 Gdanska St., 50-344 Wroclaw, Poland, Faltynowicz Hanna ,   Wroclaw University of Science and Technology, Faculty of Chemistry, 7/9 Gdanska St., 50-344 Wroclaw, Poland, Narowska Beata ,   Wroclaw University of Science and Technology, Faculty of Chemistry, 7/9 Gdanska St., 50-344 Wroclaw, Poland, Swiatek Lukasz ,   Wroclaw University of Science and Technology, Faculty of Chemistry, 7/9 Gdanska St., 50-344 Wroclaw, Poland, Lukaszewicz Marcin ,   University of Wroclaw, Faculty of Biotechnology, 14a Fryderyka Joliot-Curie St., 50-383 Wroclaw, Poland
Published: February 2017

The paper presents the base and conditions for the extraction of organic materials with solvents in the supercritical state with particular attention to use of CO2 as the extraction agent. The advantages and disadvantages of this process are described. The examples of extraction of organic materials using supercritical of CO2 are presented.