WorldWideScience

Sample records for profits earned upstream

  1. 26 CFR 1.1502-33 - Earnings and profits.

    Science.gov (United States)

    2010-04-01

    ... also lost in Year 1, P would have decreased its earnings and profits for Year 1 by the additional $50... 26 Internal Revenue 12 2010-04-01 2010-04-01 false Earnings and profits. 1.1502-33 Section 1.1502... (CONTINUED) INCOME TAXES Basis, Stock Ownership, and Earnings and Profits Rules § 1.1502-33 Earnings and...

  2. 26 CFR 1.312-6 - Earnings and profits.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 4 2010-04-01 2010-04-01 false Earnings and profits. 1.312-6 Section 1.312-6...) INCOME TAXES Effects on Corporation § 1.312-6 Earnings and profits. (a) In determining the amount of earnings and profits (whether of the taxable year, or accumulated since February 28, 1913, or accumulated...

  3. Evaluating impacts of unexpected earning on precision of profit estimation

    Directory of Open Access Journals (Sweden)

    Hossein Kazemi

    2013-03-01

    Full Text Available Precision in earning report has always been a concern among investors, and when there are some negative adjustments on earning, investor may find it challenging to decide whether they should hold or sell their shares. This paper studies the impact of earning precision and unexpected earning adjustments on firms whose share are listed on Tehran Stock Exchange. The proposed study of this paper considers three hypotheses including whether earning precision has negative relationship with unexpected profit, whether it has a negative with unexpected decline in profit and finally, whether, in prediction on negative news compared with positive news, there is a negative relationship between stronger earnings forecast and precision of earning forecast. The study gathers the necessary data from official news released for some firms whose shares were active over the period 2003-2012. The study uses two regression models and the results of regression analysis have confirmed all hypotheses of this survey.

  4. Danwei Profitability and Earnings Inequality in Urban China*

    Science.gov (United States)

    Xie, Yu; Wu, Xiaogang

    2009-01-01

    Prior research has debated the relative importance of such factors as human capital, political capital and region in determining workers’ earnings in reform-era urban China. This article argues that a main agent of social stratification in contemporary China continues to be the danwei, the work unit. Using data from a 1999 survey we conducted in three large Chinese cities, Wuhan, Shanghai and Xi’an, we assess the extent to which workers’ earnings (including regular wages, bonuses and subsidies) depend on the profitability of their danwei. Results show that the financial situation of the danwei is one of the most important determinants of earnings in today’s urban China. Furthermore, the importance of danwei profitability does not vary by city or by employment sector. PMID:20445771

  5. 26 CFR 1.537-2 - Grounds for accumulation of earnings and profits.

    Science.gov (United States)

    2010-04-01

    ... indicate that the earnings and profits of a corporation are being accumulated beyond the reasonable needs... 26 Internal Revenue 7 2010-04-01 2010-04-01 true Grounds for accumulation of earnings and profits... Shareholders § 1.537-2 Grounds for accumulation of earnings and profits. (a) In general. Whether a particular...

  6. 26 CFR 1.857-7 - Earnings and profits of a real estate investment trust.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Earnings and profits of a real estate investment... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Real Estate Investment Trusts § 1.857-7 Earnings and profits of a real estate investment trust. (a) Any real estate investment trust whether or not such trust...

  7. 26 CFR 1.852-5 - Earnings and profits of a regulated investment company.

    Science.gov (United States)

    2010-04-01

    ... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Regulated Investment Companies and Real Estate Investment Trusts § 1.852-5 Earnings and profits of a regulated investment company. (a) Any regulated investment... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Earnings and profits of a regulated investment...

  8. 26 CFR 1.381(c)(2)-1 - Earnings and profits.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 4 2010-04-01 2010-04-01 false Earnings and profits. 1.381(c)(2)-1 Section 1.381(c)(2)-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Insolvency Reorganizations § 1.381(c)(2)-1 Earnings and profits. (a) In...

  9. 26 CFR 1.312-15 - Effect of depreciation on earnings and profits.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 4 2010-04-01 2010-04-01 false Effect of depreciation on earnings and profits... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Effects on Corporation § 1.312-15 Effect of depreciation on earnings and profits. (a) Depreciation for taxable years beginning after June 30, 1972—(1) In general...

  10. 26 CFR 1.852-12 - Non-RIC earnings and profits.

    Science.gov (United States)

    2010-04-01

    ... (CONTINUED) INCOME TAXES Regulated Investment Companies and Real Estate Investment Trusts § 1.852-12 Non-RIC earnings and profits. (a) Applicability of section 852(a)(2)(A)—(1) In general. An investment company does... profits the investment company succeeded by the operation of section 381, part I of subchapter M applied...

  11. 26 CFR 1.857-11 - Non-REIT earnings and profits.

    Science.gov (United States)

    2010-04-01

    ... TAX (CONTINUED) INCOME TAXES Real Estate Investment Trusts § 1.857-11 Non-REIT earnings and profits. (a) Applicability of section 857(a)(3)(A). A real estate investment trust does not satisfy section... profits of real estate investment trusts. (d) Effective date. This regulation is effective for taxable...

  12. 26 CFR 1.964-1 - Determination of the earnings and profits of a foreign corporation.

    Science.gov (United States)

    2010-04-01

    ... translating distributions or inclusions of the foreign corporation's earnings and profits into dollars. (b... distribution purposes, under section 963(c)(2)(B). Corporation N regularly maintains books of account for the... taxable year of a specified foreign corporation as defined in section 898(b). Any allowable method of...

  13. 26 CFR 1.960-4 - Additional foreign tax credit in year of receipt of previously taxed earnings and profits.

    Science.gov (United States)

    2010-04-01

    ... controlled foreign corporation B. All corporations use the calendar years as the taxable year. Corporation B... foreign income taxes of $5 on such dividend from B Corporation, has total earnings and profits of $30, all... therefrom. (b) For 1979, B Corporation has no earnings and profits, but distributes in such year to A...

  14. The Influence of Corporate Social Responsibility, Profit Persistence, and Capital Structure To Earnings Response Coefficient.

    Directory of Open Access Journals (Sweden)

    Abdur Rahman Dalimunthe

    2016-07-01

    Full Text Available This study aims to examine the factors that influence the Earnings Response Coefficient on state-owned companies go public listed in Indonesia Stock Exchange. These factors are the corporate social responbility, earnings persistence, and capital structure.The study‟s population is a go-public SOEs company which is listed in Indonesia Stock Exchange within 2008-2011 period. The research sample using purposive sampling. Number of companies studied were 14 (fourteen as samples and were taken by using purposive sampling method on state-owned companies went public within 2008-2011 period in Indonesia Stock Exchange, bringing the total observations in this research were 56 observations. Methods of data analysis use multiple linear regression analysis. Hypothesis tests using the t test and F test. These results indicate that corporate social responbility, earnings persistence, and capital structure affect the earnings response coefficient simultaneously at the state-owned company publicly traded on the Indonesia Stock Exchange listed period 2008-2011. Only the persistence of earnings are not significantly influence the earnings response coefficient. However, corporate social capital structure responbility and significant negative effect on earnings response coefficient.

  15. When is vertical integration profitable? Focus on a large upstream company in the gas market; Naar er vertikal integrasjon loennsomt? Fokus paa en stor oppstroemsbedrift i gassmarkedet

    Energy Technology Data Exchange (ETDEWEB)

    Hatlebakk, Magnus

    2001-12-01

    This note discusses basic economic mechanisms that may affect the profitability of vertical integration in the European gas industry. It concentrates on reasonable strategies for a large upstream company which considers a stronger engagement downstream. The note warns against the effect of simplified conclusions with regard to the impact of vertical integration. It applies a simple model of successive oligopolies to discuss double mark-ups, exclusions, barriers to entry, etc.

  16. Timing earnings

    Directory of Open Access Journals (Sweden)

    Donghua Chen

    2011-12-01

    Full Text Available Since the opening of China’s securities market, there have been a number of bull and bear cycles. This paper discusses how executives use the market timing approach to manage earnings in different cycles to maximize firm value. We find that Chinese listed companies choose to release more earnings during bull markets and this phenomenon is more evident in companies that are more profitable and have higher valuations. We also find that executives who do not release more earnings during bull markets are more likely to be dismissed.

  17. 26 CFR 1.1502-43 - Consolidated accumulated earnings tax.

    Science.gov (United States)

    2010-04-01

    ... that the group's earnings and profits are permitted to accumulate beyond the reasonable needs of its... either any of its members or any other corporation by permitting earnings and profits to accumulate... profits. For purposes of this paragraph (a) and paragraph (d) of this section, the following rules apply...

  18. 40 CFR 35.936-4 - Profits.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Profits. 35.936-4 Section 35.936-4... ASSISTANCE Grants for Construction of Treatment Works-Clean Water Act § 35.936-4 Profits. Only fair and reasonable profits may be earned by contractors in subagreements under EPA grants. See § 35.937-7 for...

  19. 5 CFR 844.402 - Restoration of earning capacity.

    Science.gov (United States)

    2010-01-01

    ... to earn post-retirement income in exchange for personal services or a work product, or as a profit... same as income for the purposes of the Internal Revenue Code. (2) Income earned from one source is not offset by losses from another source. Income earned as wages is not reduced by a net loss from self...

  20. Earnings Volatility, Accounting Conservatism, and Earnings Persistence: A Consideration of Unsystematic Earnings and Systematic Earnings Components

    OpenAIRE

    Chi-Chuang Hsieh; Che-Hui Cheng; Jian-Shan Wang

    2015-01-01

    Unlike previous studies investigating earnings persistence through cash flows and accrual components, this study separates earnings into unsystematic and systematic earnings so that we can differentiate between the earnings persistence of both components where the earnings persistence of the former is higher than that of the latter. In addition, the information properties of both earnings components are different. The earnings persistence of unsystematic earnings is affected by accounting con...

  1. EARNINGS MANAGEMENT IN U.S. HOSPITALS.

    Science.gov (United States)

    Dong, Gang Nathan

    2016-01-01

    This paper examines the hospital management practices of manipulating financial earnings within the bounds of generally accepted accounting principles (GAAP). We conduct regression analyses that relate earnings management to hospital characteristics to assess the economic determinants of hospital earnings management behavior. From the CMS Cost Reports we collected hospital financial data of all U.S. hospitals that request reimbursement from the federal government for treating Medicare patients, and regress discretionary accruals on hospital size, profitability, asset liquidity, operating efficiency, labor cost, and ownership. Hospitals with higher profit margin, current ratio, working capital, days of patient receivables outstanding and total wage are associated with more earnings management, whereas those with larger size and higher debt level, asset turnover, days cash on hand, fixed asset age are associated with lower level of earnings manipulation. Additionally, managers of non-profit hospitals are more likely to undertake some form of window-dressing by manipulating accounting accruals without changing business models or pricing strategies than their public hospital counterparts. We provide direct evidence of the use of discretionary accruals to manage financial earnings among U.S. hospitals and the finding has profound policy implications in terms of assessing the pervasiveness of accounting manipulation and the overall integrity of financial reporting in this very special public and quasi-public service sector.

  2. Intergenerational earnings mobilities

    DEFF Research Database (Denmark)

    Hussain, Azhar; Munk, Martin D.; Bonke, Jens

    2009-01-01

    This article gives various estimates of intergenerational earnings mobility by applying different earning periods, age brackets, and earning components. The methodology enables us to investigate how sensitive results are to different delimitations and, thereby, to make more accurate international...

  3. Debt Issues and Earnings Management

    Directory of Open Access Journals (Sweden)

    Bianca Piloto Sincerre

    2016-01-01

    Full Text Available ABSTRACT The aim of this paper is to analyze earnings management (EM surrounding debenture issues of companies listed on the BM&FBOVESPA. EM is an intentional intervention in external financial reports in order to obtain some private gain. This practice is especially important at the time of issuing debentures because if earnings are inflated, investors may pay an artificially high price. To measure earnings management, current discretionary accruals were used as a proxy, based on the Modified Jones and Modified Jones with ROA econometric models. All of the regressions considered the fixed effects of the companies and the time series effects of the analyses. Evidence was found that companies inflate their financial results in the issuing period in order to positively influence their investors. The results suggest that there is EM in the quarter preceding the issue (t = - 1, indicating the influence that investors may have been under when making the decision to invest in debentures from these companies. In addition, it was verified that companies with higher debt, profitability, and sales growth ratios have higher levels of earnings management. The reputation of the auditor was not statistically significant regarding reductions in the level of management. The results also show that companies listed on Level II and New Market had higher levels of management when considering the Modified Jones with ROA model. Therefore, it can be concluded that there is a greater level of earnings management in companies that issue debentures in the period preceding the event. Finally, the variable that is directly related to the level of earnings management is sales growth.

  4. PRAKTIK EARNING MANAGEMENT DALAM PERSPEKTIF ETIKA SYARI’AH

    Directory of Open Access Journals (Sweden)

    Diska Arliena Hafni

    2012-07-01

    Full Text Available Earning Management representing one of choice to manager in determining policy of accountancy to reach specific purposes. The target is to maximize manager utilitas and improve company value. This target relate manager motivation in earning management praktik as: getting high bonus, debt in bond fund, trust of public in capital market, low tax expense, achievement which both for CEO, and positive reaction of investor in IPO. With existence of the target of profit management to maximize utilitas, hence profit management activity can be classified into ethics understanding of utilitarianisme. But which still become question in earning management will delivering many benefit to management agent or principle, particularly all stakeholder

  5. Earnings management, corporate governance and expense sticki

    Directory of Open Access Journals (Sweden)

    Shuang Xue

    2016-03-01

    Full Text Available Cost and expense stickiness is an important issue in accounting and economics research, and the literature has shown that cost stickiness cannot be separated from managers’ motivations. In this paper, we examine the effects that earnings management has on expense stickiness. Defining small positive profits or small earnings increases as earnings management, we observe significant expense stickiness in the non-earnings-management sub-sample, compared with the earnings-management sub-sample. When we divide expenses into R&D, advertising and other general expenses, we find that managers control expenses mainly by decreasing general expenses. We further examine corporate governance’s effect on expense stickiness. Using factor analysis, we extract eight main factors and find that good corporate governance reduces expense stickiness. Finally, we investigate the interaction effects of earnings management and corporate governance on expense stickiness. The empirical results show that good corporate governance can further reduce cost stickiness, although its effect is not as strong as that of earnings management.

  6. The Determinants Of European Bank Profitability

    OpenAIRE

    Christos K. Staikouras; Wood, Geoffrey E.

    2011-01-01

    The rate of return earned by a financial institution is affected by numerous factors. These factors include elements internal to each financial institution and several important external forces shaping earnings performance. The type of explanation would determine possible policy implications and ought to be taken seriously. This paper reviews the literature on bank performance studies and classifies the bank profitability determinants. The second part of the paper quantifies how internal dete...

  7. For-profit colleges.

    Science.gov (United States)

    Deming, David; Goldin, Claudia; Katz, Lawrence

    2013-01-01

    For-profit, or proprietary, colleges are the fastest-growing postsecondary schools in the nation, enrolling a disproportionately high share of disadvantaged and minority students and those ill-prepared for college. Because these schools, many of them big national chains, derive most of their revenue from taxpayer-funded student financial aid, they are of interest to policy makers not only for the role they play in the higher education spectrum but also for the value they provide their students. In this article, David Deming, Claudia Goldin, and Lawrence Katz look at the students who attend for-profits, the reasons they choose these schools, and student outcomes on a number of broad measures and draw several conclusions. First, the authors write, the evidence shows that public community colleges may provide an equal or better education at lower cost than for-profits. But budget pressures mean that community colleges and other nonselective public institutions may not be able to meet the demand for higher education. Some students unable to get into desired courses and programs at public institutions may face only two alternatives: attendance at a for-profit or no postsecondary education at all. Second, for-profits appear to be at their best with well-defined programs of short duration that prepare students for a specific occupation. But for-profit completion rates, default rates, and labor market outcomes for students seeking associate's or higher degrees compare unfavorably with those of public postsecondary institutions. In principle, taxpayer investment in student aid should be accompanied by scrutiny concerning whether students complete their course of study and subsequently earn enough to justify the investment and pay back their student loans. Designing appropriate regulations to help students navigate the market for higher education has proven to be a challenge because of the great variation in student goals and types of programs. Ensuring that potential

  8. The Entrepreneurial Earnings Puzzle

    DEFF Research Database (Denmark)

    Chen, Jing; Åstebro, Thomas

    2014-01-01

    A review of recent evidence on relative earnings from entrepreneurship versus wage work presents a puzzle: why do individuals become entrepreneurs when entrepreneurs on average apparently earn less than employees? After considering several potential explanations, we empirically analyze one: incom...

  9. Intergenerational earnings mobilities

    DEFF Research Database (Denmark)

    Hussain, Azhar; Munk, Martin D.; Bonke, Jens

    2009-01-01

    This article gives various estimates of intergenerational earnings mobility by applying different earning periods, age brackets, and earning components. The methodology enables us to investigate how sensitive results are to different delimitations and, thereby, to make more accurate international...... comparisons of intergenerational earnings mobility. We find that intergenerational earnings mobility is found to be substantially lower when hourly wage rates rather than annual earnings are used, whether the latter are inclusive or exclusive of public transfers. Moreover, when the same specifications...... are applied for Denmark as for other countries, we find that intergenerational earnings mobility from father to son in Denmark is on the same level as in Sweden, Norway, and Finland, whereas the intergenerational earnings mobility in all the Nordic countries is found to be higher than in the United Kingdom...

  10. SPOUSAL MOBILITY AND EARNINGS

    National Research Council Canada - National Science Library

    TERRA MCKINNISH

    2008-01-01

    An important finding in the literature on migration has been that the earnings of married women typically decrease with a move, while the earnings of married men often increase with a move, suggesting...

  11. Essays on Earnings Predictability

    DEFF Research Database (Denmark)

    Bruun, Mark

    forecasts are not more accurate than the simpler forecasts based on a historical timeseries of earnings. Secondly, the dissertation shows how accounting standards affect analysts’ earnings predictions. Accounting conservatism contributes to a more volatile earnings process, which lowers the accuracy......This dissertation addresses the prediction of corporate earnings. The thesis aims to examine whether the degree of precision in earnings forecasts can be increased by basing them on historical financial ratios. Furthermore, the intent of the dissertation is to analyze whether accounting standards...... affect the accuracy of analysts´earnings forecasts. Finally, the objective of the dissertation is to investigate how the stock market is affected by the accuracy of corporate earnings projections. The dissertation contributes to a deeper understanding of these issues. First, it is shown how earnings...

  12. Intergenerational earnings mobilities

    DEFF Research Database (Denmark)

    Hussain, Azhar; Munk, Martin D.; Bonke, Jens

    2009-01-01

    comparisons of intergenerational earnings mobility. We find that intergenerational earnings mobility is found to be substantially lower when hourly wage rates rather than annual earnings are used, whether the latter are inclusive or exclusive of public transfers. Moreover, when the same specifications...

  13. Intergenerational earnings mobilities

    DEFF Research Database (Denmark)

    Hussain, Azhar; Munk, Martin D.; Bonke, Jens

    2009-01-01

    This article gives various estimates of intergenerational earnings mobility by applying different earning periods, age brackets, and earning components. The methodology enables us to investigate how sensitive results are to different delimitations and, thereby, to make more accurate international...... are applied for Denmark as for other countries, we find that intergenerational earnings mobility from father to son in Denmark is on the same level as in Sweden, Norway, and Finland, whereas the intergenerational earnings mobility in all the Nordic countries is found to be higher than in the United Kingdom...

  14. Intergenerational earnings mobilities

    DEFF Research Database (Denmark)

    Hussain, Azhar; Munk, Martin D.; Bonke, Jens

    2009-01-01

    This article gives various estimates of intergenerational earnings mobility by applying different earning periods, age brackets, and earning components. The methodology enables us to investigate how sensitive results are to different delimitations and, thereby, to make more accurate international...... and the United States....... are applied for Denmark as for other countries, we find that intergenerational earnings mobility from father to son in Denmark is on the same level as in Sweden, Norway, and Finland, whereas the intergenerational earnings mobility in all the Nordic countries is found to be higher than in the United Kingdom...

  15. Profit U

    Science.gov (United States)

    Weinstein, Margery

    2012-01-01

    Preparing employees for the immediate work in front of them is a challenge. While most companies are still mastering effectively training their own workforce, some, such as "Training" magazine Top 10 Hall of Famer The Ritz-Carlton Hotel Company, have set up for-profit academies open to the public. When Ritz-Carlton won the national Malcolm…

  16. Research on immigrant earnings.

    Science.gov (United States)

    Duleep, Harriet Orcutt; Dowhan, Daniel J

    2008-01-01

    As the first in a trio of pieces devoted to incorporating immigration into policy models, this review of research on immigrant earnings trajectories brings to light several findings. Controlling for demographic and human capital characteristics, immigrants often start their U.S. lives at substantially lower earnings, but experience faster earnings growth than natives with comparable years of education and experience. The extent to which the earnings trajectories of immigrants and natives differ varies by country of origin, with the source-country's level of economic development being a key determinant of the size of the U.S.-born/ foreign-born difference. The earnings profiles of immigrants from economically developed countries such as Japan, Canada, or Western Europe resemble those of U.S. natives who are of the same age and education level. In contrast, the earnings of immigrants from developing nations tend to start well below those of U.S. natives with comparable education levels and experience, but rise more rapidly than their U.S. counterparts. Comparing the earnings profiles of immigrants of similar age, sex, and years of schooling, over time and across groups, a strong inverse relationship emerges between their initial earnings and their subsequent U.S. earnings growth. In other words, the lower (higher) the initial earnings are, the higher (lower) the earnings growth. These and other research results have important implications for the projection of immigrant earnings and emigration in microsimulation models, as discussed in the two articles following this one: (1) "Adding Immigrants to Microsimulation Models" and (2) "Incorporating Immigrant Flows into Microsimulation Models".

  17. Profitability of Snail Production in Osun State,Nigeria | Baba ...

    African Journals Online (AJOL)

    The costs and returns analysis revealed that variable costs accounted for 96% of the production costs. Labour was the most costly single item in snail production in the area. The results further showed that snail farming was highly profitable, with the average farmer earning a net return of 40 naira per snail. There was a profit ...

  18. Earnings management to avoid earnings decreases and losses

    DEFF Research Database (Denmark)

    Schøler, Finn

    2005-01-01

    This study focuses on earnings management by investigating the frequency distribution of the reported earnings (changes) by use of the approach documented by Burgstahler & Dichev (1997). In this study, it is investigated whether Danish firms use earnings management to avoid earnings decreases (and......) and current liabilities, and reported earnings (changes) are examined. To address the problem further the modified Jones (1991) model is used to identify and separate discretionary accruals in order to identify pre-managed earnings (changes). The frequency distribution of these calculated premanaged earnings...... asset accounts by using the well known Jones model to "identify" the pre-managed earnings in order to compare these pre-managed earnings with the reported earnings It is shown that the combination of the research of earnings management based on studies of irregularities in the earnings frequency...

  19. Handedness and earnings.

    Science.gov (United States)

    Ruebeck, Christopher S; Harrington, Joseph E; Moffitt, Robert

    2007-03-01

    We examine whether handedness is related to performance in the labour market and, in particular, to earnings. We find a significant wage effect for left-handed men with high levels of education. This positive wage effect is strongest among those who have lower than average earnings relative to those of similar high education. This effect is not found among women.

  20. Incentives and Earnings Growth

    DEFF Research Database (Denmark)

    Frederiksen, Anders

    2013-01-01

    by investigating the effects that explicit short-run incentives and implicit incentives have on earnings growth. The model’s predictions are tested using personnel records from a large bank and are found to be consistent with the observed earnings growth during the first half of the employees’ careers....

  1. Fluctuations of company yearly profits versus scaled revenue: Fat tail distribution of Levy type

    OpenAIRE

    H. E. Roman; Siliprandi, R. A.; Dose, C.; Riccardi, C.; Porto,M.

    2008-01-01

    We analyze annual revenues and earnings data for the 500 largest-revenue U.S. companies during the period 1954-2007. We find that mean year profits are proportional to mean year revenues, exception made for few anomalous years, from which we postulate a linear relation between company expected mean profit and revenue. Mean annual revenues are used to scale both company profits and revenues. Annual profit fluctuations are obtained as difference between actual annual profit and its expected mea...

  2. Earning Management dan Expected Future Earning di Bursa Efek Indonesia

    Directory of Open Access Journals (Sweden)

    Taofiq Rachmat

    2017-09-01

    Full Text Available The purpose of this study was to applicated M-score to identify earning management in Indonesian corporation. This study also aims to analyst future earning condition from kind of group or sector of corporation which is indicated doing earning management. This study took a sample of 42 corporation using criteria about corporation which is had negatif information. The results of multiple linear regression analysis show that there is evidence that companies with an Earning Management detected earn lower future earnings (a study in Indonesian Stock Exchange Market, the ability of forecast changes in future earnings stems from its ability of predictive power of M-Score (Earning Management Detection Model. There is also, evidence that group companies which had “high attention” from Regulator earn lower expected future earnings. Based on the results of this study, the stake holder are advised to consider M-score to make judgement about financial reports.Keywords: earning management, expected future earning, indonesian stock exchange market, m-score, cross- sectional time-series dataAbstrak: Tujuan dari penelitian ini adalah untuk mengkaji aplikasi M-Score untuk mengidentifikasi earning management pada korporasi di Indonesia. Penelitian ini juga bertujuan mengkaji kondisi expected future earning dari kelompok korporasi yang di informasikan terindikasi melakukan earning management. Penelitian ini mengambil sampel dari 42 korporasi dengan menggunakan kriteria korporasi yang memiliki informasi negatif. Hasil analisis regresi linier berganda menunjukkan terdapat bukti apabila korporasi yang terdeteksi earning management akan mendapatkan expected future earning yang rendah. Kemampuan memprediksi perubahan pada expected future earning didapat dari kemampuan prediksi yang kuat dari M-score (Model untuk mendeteksi adanya earning management. Penelitian menunjukkan bahwa ditemukan konglomerasi usaha yang mendapat pengawasan dari regulator mendapatkan

  3. Long-time correlations in company profit fluctuations: presence of extreme events.

    Science.gov (United States)

    Roman, H Eduardo; Siliprandi, Riccardo A; Dose, Christian; Porto, Markus

    2009-09-01

    The accuracy of earnings predictions is hampered by the several predominantly unpredictable effects due to the complex evolution of economy. Finding out which are the dominant market features embracing uncertainty is therefore the key to get beyond present state-of-art earnings forecasts. The analysis of annual revenues and earnings data (1954-2008) from the 500 largest-revenue U.S. companies suggests a linear relation between company expected mean profit and revenue. Annual profit fluctuations are then obtained as difference between actual annual profits and expected mean values. It is found that the temporal evolution of profit fluctuations for a single company displays a slowly decaying autocorrelation, yielding Hurst exponents in the range H=0.75+/-0.17 . The study of profits cross correlations between companies suggests a way to distinguish typical earnings years from anomalous ones by looking at minimal information structures contained within the space defined by the associated covariance metric.

  4. Long-time correlations in company profit fluctuations: Presence of extreme events

    Science.gov (United States)

    Roman, H. Eduardo; Siliprandi, Riccardo A.; Dose, Christian; Porto, Markus

    2009-09-01

    The accuracy of earnings predictions is hampered by the several predominantly unpredictable effects due to the complex evolution of economy. Finding out which are the dominant market features embracing uncertainty is therefore the key to get beyond present state-of-art earnings forecasts. The analysis of annual revenues and earnings data (1954-2008) from the 500 largest-revenue U.S. companies suggests a linear relation between company expected mean profit and revenue. Annual profit fluctuations are then obtained as difference between actual annual profits and expected mean values. It is found that the temporal evolution of profit fluctuations for a single company displays a slowly decaying autocorrelation, yielding Hurst exponents in the range H=0.75±0.17 . The study of profits cross correlations between companies suggests a way to distinguish typical earnings years from anomalous ones by looking at minimal information structures contained within the space defined by the associated covariance metric.

  5. Earned Value Management System

    Data.gov (United States)

    US Agency for International Development — EVMS is a system for measuring project performance and progress in an objective manner by supporting earned value management. EVMS has the ability to combine...

  6. (JASR) Vol. 11, No. 2, 2011 EVALUATION OF EARNING ...

    African Journals Online (AJOL)

    OMA

    entrepreneurs were selected from Ariaria and Ahia markets respectively. ... earnings from these enterprises can sustain economic development in most ... problems of labour and human capital, and poor and inconsistent legislative framework. In an .... profitability indicators shows a positive performance on the aspect of the ...

  7. 26 CFR 1.1552-1 - Earnings and profits.

    Science.gov (United States)

    2010-04-01

    ... income, then for purposes of this subdivision such member's taxable income shall be zero. (2)(i) The tax... return tax liability shall be zero. (3)(i) The tax liability of the group (excluding the tax increases...) of this section shall be made not later than the time prescribed by law for filing the first...

  8. Earned value project management

    CERN Document Server

    Fleming, Quentin W

    2010-01-01

    Organizations that follow the principles of good Earned Value Management (EVM) create an environment that allows teams to successfully operate and thrive ? even in the face of challenges that could negatively impact their projects. Earned Value Project Management (EVPM) is a methodology used to measure and communicate the real physical progress of a project taking into account the work completed, the time taken and the costs incurred to complete that work. As a result, EVPM allows more educated and effective management decision-making, which helps evaluate and control project risk by measuring project progress in monetary terms. In the first two editions of Earned Value Project Management, Quentin W. Fleming and Joel M. Koppelman provided guidance for project management practitioners already familiar with EVPM, was well as those who were new to the use of this technique. The third edition expanded the information available on of EVPM for medium and smaller projects while still being relevant for larger projec...

  9. Earnings management through loss avoidance: Does South Africa have a good story to tell?

    Directory of Open Access Journals (Sweden)

    Mangakane Lehlogonolo Pududu

    2016-03-01

    Full Text Available The purpose of this study is to determine whether South African managers manage earnings to avoid reporting small losses (small earnings decreases. The study covers all the companies listed on the Johannesburg Stock Exchange (JSE from 2003 to 2011. In line with Burgstahler and Dichev (1997, the cross-sectional distributions of earnings and changes in earnings are examined and the distributions are shown in histograms. Previous research (using data from the United States has shown that the distribution curve for both the earnings and the change in earnings variable had noticeably fewer observations just below zero than would normally be expected, and a significantly higher number of observations just above zero. This pattern in the distributions suggests that managers manage reported earnings to ensure that earnings do not fall below a specific threshold, this being zero or the previous year’s performance. Interestingly, and in contrast with  the previous  literature, using the Burgstahler and Dichev (1997 research model of analysis, our results show no evidence in South Africa of managers managing earnings to avoid reporting small losses or small decreases in earnings. A possible reason for this could be the relatively smaller size of the JSE (compared with stock exchanges in the United States. In addition, and more important, is the possibility that investors and analysts in South Africa may be fixated on other performance indicators, such as revenue and headline earnings per share, rather than on earnings (profits.  This study adds to the limited research on earnings management in South Africa, which is a developing economy. Furthermore, previous research shows an inverse relationship between earnings management and earnings quality. The results of this study may therefore be useful to the users and the regulators of financial reports, both are concerned with earnings for the purposes of assessing the cost of capital and how companies

  10. An Empirical Examination of Ownership Structure, Earnings Management and Growth Opportunities in Mexican Market

    Directory of Open Access Journals (Sweden)

    Juan Manuel San Martín Reyna

    2013-07-01

    Full Text Available This paper analyses the influence of ownership structure, board and leverage on the earnings management when companies either face, or do not face, profitable growth opportunities for a sample of 90 listed Mexican firms during the period 2005-2009. The results confirm the relevance of debt and board of directors in terms of earnings management by showing a positive relationship between earnings management and both board of directors and leverage in the presence of growth opportunities. In contrast, this relationship becomes negative when firms have no profitable investment projects. The results also demonstrate the relevance of controlling shareholders on earnings management under a growth opportunity setting.Therefore, our results show that ownership structure, composition and size of board and leverage play a dual role: reduce the earnings management when there are no investments projects, but impact positively in presence of growth opportunities.

  11. Presentation of 2004 earnings

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2005-03-01

    This presentation offers financial information on the AREVA Group earnings for the year 2004. With manufacturing facilities in over 40 countries and a sales network in over 100, Areva offers customers technological solutions for nuclear power generation and electricity transmission and distribution. The Group also provides interconnect systems to the telecommunications, computer and automotive markets. (A.L.B.)

  12. Personality, Education and Earnings

    Science.gov (United States)

    Silles, Mary A.

    2010-01-01

    Economists are only beginning to understand the relationship between personality traits and economic outcomes. This paper examines the influence of childhood social maladjustment on cognitive development, labor market earnings and career progression using longitudinal data drawn from the National Child Development Study. Net of differences in…

  13. On the relation between forecast precision and trading profitability of financial analysts

    DEFF Research Database (Denmark)

    Marinelli, Carlo; Weissensteiner, Alex

    2014-01-01

    We analyze the relation between earnings forecast accuracy and the expected profitability of financial analysts. Modeling forecast errors with a multivariate normal distribution, a complete characterization of the payoff of each analyst is provided. In particular, closed-form expressions for the ......We analyze the relation between earnings forecast accuracy and the expected profitability of financial analysts. Modeling forecast errors with a multivariate normal distribution, a complete characterization of the payoff of each analyst is provided. In particular, closed-form expressions...

  14. MEXICO'S UPSTREAM BUSINESS MODEL

    OpenAIRE

    Baker, George

    2015-01-01

    A fundamental question concerning the upstream business model that is incorporated into the 2014 Energy Reform in Mexico concerns the intended evolution of the energy policy framework in which it appears. The situation of “before,” as alluded to in President Peñas remarks on March 18, 2015, was one in which Pemex served as the iconic state monopoly, and through which, by virtue of Article 6 of the now-abrogated Petroleum Law of 1958, all contracting was required to take place under restrictiv...

  15. Relationship between Non-current Assets & Firms Profitability

    OpenAIRE

    Iqbal, Athar; mati, madhu

    2012-01-01

    The current study examines the relation between capital еxpеnditurе and earnings of the companies which are non-financial. The scope of research is related to the firm’s profitability and the relationship with the noncurrent assets as managing working capital and capital expenditure efficiently affects the profitability of the firm. Last ten years data of non – financial firms listed at KSE 100 index was taken. It includes Cement, Manufacturing, Engineering, Chemical, Paper, Sugar, Textile, T...

  16. Earning management in Brazilian financial institutions

    Directory of Open Access Journals (Sweden)

    Adriana Bruscato Bortoluzzo

    2016-06-01

    Full Text Available ABSTRACT The present study aims to study earnings management in a significant sample of 123 banks in the Brazilian market between 2001 and 2012. Given the important role that banks play in a country's economy, it is important to understand that there are discretionary factors involved in the reporting of a financial institution's profitability. Credit provisioning guidelines for Brazilian financial institutions are described in Resolution 2682/99 of the National Monetary Council (Conselho Monetário Nacional. Because of the discretion allowed in this resolution, loan loss provision is used as instrument of earnings management, which is not an illegal practice, but this behavior does affect the risk perception of agents and analysts, and they should be aware of it and understand it. We found that credit provisioning is used as an earnings management mechanism to smooth the net income of Brazilian financial institutions. Brazilian banks tend to avoid not only negative net income pre-loan loss provisions and taxes, but also negative net income pre-loan loss provisions and taxes in relation to the previous period. Contrary to the previous studies, it is not clear if banks avoid lower net income pre-loan loss provisions and taxes than a given peer group.

  17. Personality, IQ, and Lifetime Earnings

    DEFF Research Database (Denmark)

    Gensowski, Miriam

    2018-01-01

    This paper estimates the effects of personality traits and IQ on lifetime earnings of the men and women of the Terman study, a high-IQ U.S. sample. Age-by-age earnings profiles allow a study of when personality traits affect earnings most, and for whom the effects are strongest. I document...

  18. Professional Differentiation and Occupational Earnings.

    Science.gov (United States)

    Cullen, John B.

    1985-01-01

    "Professional" and other occupational characteristics were selected as variables for predicting the earnings of occupational groups. Task complexity and education were significant predictors of occupational earnings. In support of some power theorists, the data suggested that some occupational groups derive additional earnings by influencing their…

  19. Personnel Policy and Profit

    DEFF Research Database (Denmark)

    Bingley, Paul; Westergård-Nielsen, Niels Chr.

    2004-01-01

    personnel structure variation. It is found that personnel policy is strongly related to economic performance. At the margin, more hires are associated with lower profit, and more separations with higher profit. For the average firm, one new job, all else equal, is associated with ?2680 (2000 prices) lower...... annual profit. Higher wage level and lower wage growth is associated with higher profit. A workforce that has less tenure, all else equal, is more profitable....

  20. A More Detailed Understanding Of Factors Associated With Hospital Profitability.

    Science.gov (United States)

    Bai, Ge; Anderson, Gerard F

    2016-05-01

    To identify the characteristics of the most profitable US hospitals, we examined the profitability of acute care hospitals in fiscal year 2013, measured as net income from patient care services per adjusted discharge. Based on Medicare Cost Reports and Final Rule Data, the median hospital lost $82 for each such discharge. Forty-five percent of hospitals were profitable, with 2.5 percent earning more than $2,475 per adjusted discharge. The ten most profitable hospitals, seven of which were nonprofit, each earned more than $163 million in total profits from patient care services. Hospitals with for-profit status, higher markups, system affiliation, or regional power, as well as those located in states with price regulation, tended to be more profitable than other hospitals. Hospitals that treated a higher proportion of Medicare patients, had higher expenditures per adjusted discharge, were located in counties with a high proportion of uninsured patients, or were located in states with a dominant insurer or greater health maintenance organization (HMO) penetration had lower profitability than hospitals that did not have these characteristics. These findings can inform policy reforms, while providing a baseline against which to measure the impact of any subsequent reforms. Project HOPE—The People-to-People Health Foundation, Inc.

  1. Personality, IQ, and Lifetime Earnings

    DEFF Research Database (Denmark)

    Gensowski, Miriam

    2014-01-01

    through education, which has sizeable positive rates of return for men in this sample. Women’s returns to education past a bachelor’s degree are lowered through worse marriage prospects, which offset gains to education in terms of own earnings. The causal effect of education is identified through matching......, as identified in a factor model, significantly affect earnings, but not for young workers. The effects are furthermore heterogeneous by educational attainment. For women, personality traits do not affect family earnings in the same way as own earnings. Personality and IQ also influence earnings indirectly...

  2. A Decomposition of Hospital Profitability

    Directory of Open Access Journals (Sweden)

    Jason Turner

    2015-06-01

    Full Text Available Objectives: This paper evaluates the drivers of profitability for a large sample of U.S. hospitals. Following a methodology frequently used by financial analysts, we use a DuPont analysis as a framework to evaluate the quality of earnings. By decomposing returns on equity (ROE into profit margin, total asset turnover, and capital structure, the DuPont analysis reveals what drives overall profitability. Methods: Profit margin, the efficiency with which services are rendered (total asset turnover, and capital structure is calculated for 3,255 U.S. hospitals between 2007 and 2012 using data from the Centers for Medicare & Medicaid Services’ Healthcare Cost Report Information System (CMS Form 2552. The sample is then stratified by ownership, size, system affiliation, teaching status, critical access designation, and urban or non-urban location. Those hospital characteristics and interaction terms are then regressed (OLS against the ROE and the respective DuPont components. Sensitivity to regression methodology is also investigated using a seemingly unrelated regression. Results: When the sample is stratified by hospital characteristics, the results indicate investor-owned hospitals have higher profit margins, higher efficiency, and are substantially more leveraged. Hospitals in systems are found to have higher ROE, margins, and efficiency but are associated with less leverage. In addition, a number of important and significant interactions between teaching status, ownership, location, critical access designation, and inclusion in a system are documented. Many of the significant relationships, most notably not-for-profit ownership, lose significance or are predominately associated with one interaction effect when interaction terms are introduced as explanatory variables. Results are not sensitive to the alternative methodology. Conclusion: The results of the DuPont analysis suggest that although there appears to be convergence in the behavior of

  3. A Decomposition of Hospital Profitability

    Science.gov (United States)

    Broom, Kevin; Elliott, Michael; Lee, Jen-Fu

    2015-01-01

    Objectives: This paper evaluates the drivers of profitability for a large sample of U.S. hospitals. Following a methodology frequently used by financial analysts, we use a DuPont analysis as a framework to evaluate the quality of earnings. By decomposing returns on equity (ROE) into profit margin, total asset turnover, and capital structure, the DuPont analysis reveals what drives overall profitability. Methods: Profit margin, the efficiency with which services are rendered (total asset turnover), and capital structure is calculated for 3,255 U.S. hospitals between 2007 and 2012 using data from the Centers for Medicare & Medicaid Services’ Healthcare Cost Report Information System (CMS Form 2552). The sample is then stratified by ownership, size, system affiliation, teaching status, critical access designation, and urban or non-urban location. Those hospital characteristics and interaction terms are then regressed (OLS) against the ROE and the respective DuPont components. Sensitivity to regression methodology is also investigated using a seemingly unrelated regression. Results: When the sample is stratified by hospital characteristics, the results indicate investor-owned hospitals have higher profit margins, higher efficiency, and are substantially more leveraged. Hospitals in systems are found to have higher ROE, margins, and efficiency but are associated with less leverage. In addition, a number of important and significant interactions between teaching status, ownership, location, critical access designation, and inclusion in a system are documented. Many of the significant relationships, most notably not-for-profit ownership, lose significance or are predominately associated with one interaction effect when interaction terms are introduced as explanatory variables. Results are not sensitive to the alternative methodology. Conclusion: The results of the DuPont analysis suggest that although there appears to be convergence in the behavior of NFP and IO

  4. LHCb upstream tracker

    CERN Multimedia

    Artuso, Marina

    2016-01-01

    The detector for the LHCb upgrade is designed for 40MHz readout, allowing the experiment to run at an instantaneous luminosity of 2x10^33 cm$^2$s$^-1$. The upgrade of the tracker subsystem in front of the dipole magnet, the Upstream Tracker, is crucial for charged track reconstruction and fast trigger decisions based on a tracking algorithm involving also vertex detector information. The detector consists of 4 planes with a total area of about 8.5m$^2$, made of single sided silicon strip sensors read-out by a novel custom-made ASIC (SALT). Details on the performance of prototype sensors, front-end electronics, near-detector electronics and mechanical components are presented.

  5. ZNJPrice/Earnings Ratio Model through Dividend Yield and Required Yield Above Expected Inflation

    Directory of Open Access Journals (Sweden)

    Emil Mihalina

    2010-07-01

    Full Text Available Price/earnings ratio is the most popular and most widespread evaluation model used to assess relative capital asset value on financial markets. In functional terms, company earnings in the very long term can be described with high significance. Empirically, it is visible from long-term statistics that the demanded (required yield on capital markets has certain regularity. Thus, investors first require a yield above the stable inflation rate and then a dividend yield and a capital increase caused by the growth of earnings that influence the price, with the assumption that the P/E ratio is stable. By combining the Gordon model for current dividend value, the model of market capitalization of earnings (price/earnings ratio and bearing in mind the influence of the general price levels on company earnings, it is possible to adjust the price/earnings ratio by deriving a function of the required yield on capital markets measured by a market index through dividend yield and inflation rate above the stable inflation rate increased by profit growth. The S&P 500 index for example, has in the last 100 years grown by exactly the inflation rate above the stable inflation rate increased by profit growth. The comparison of two series of price/earnings ratios, a modelled one and an average 7-year ratio, shows a notable correlation in the movement of two series of variables, with a three year deviation. Therefore, it could be hypothesized that three years of the expected inflation level, dividend yield and profit growth rate of the market index are discounted in the current market prices. The conclusion is that, at the present time, the relationship between the adjusted average price/earnings ratio and its effect on the market index on one hand and the modelled price/earnings ratio on the other can clearly show the expected dynamics and course in the following period.

  6. Foreign trade and the gender earnings differential in urban Mexico

    OpenAIRE

    Hazarika, Gautam; Otero, Rafael

    2002-01-01

    This paper examines the effect of foreign trade induced product market competition, upon workplace gender discrimination in urban Mexico as measured by the gender earnings differential. More than four decades ago, Becker argued that labour market discrimination was economically inefficient in that discriminating firms must forego a quantity of profit. Thus, firms with more market power, i.e., firms facing less competition, may be more likely to discriminate. It therefore follows that competit...

  7. A study on relationship between abnormal accruals and future profitability: Evidence from Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Mohammad Khodaei Valahzaghard

    2013-11-01

    Full Text Available This paper presents an empirical investigation to study the relationship between future profitability and abnormal accruals on selected firms from Tehran Stock Exchange (TSE. The study selects 223 firms from TSE market over the period 2007-2011. Using the regression analysis, the study shows there was no meaningful relationship between abnormal earnings and future profitability when the level of significance is five percent. There are also seven sub-hypotheses associated with the proposed study of this paper. The results indicate that while there were no meaningful relationship between firm size, ratio of book value to equity, capital expenditure, earnings quality, earning forecasted error and book value leverage on one side and future earnings, the study confirms a significance relationship between market leverage and future earnings.

  8. The Depreciation Impact of the Profit and Activity Development Carried out by an Economic Operator

    OpenAIRE

    Dobrota, Gabriela; Chirculescu, Felicia Maria

    2008-01-01

    It's interesting how an economic operator decides to depreciate its depreciable fixed assets, because depreciation is an expense input from the taxable profit in accordance with the laws in force, thus contributing to diminishing the operating profit/loss and implicitly the gross and net earnings, without real impact on profitability and especially without any impact on the self-funding capacity. But the impact given by the depreciation expenses may be influenced by the organization policy...

  9. On using an efficiency matrix in analysing profit per employee (on the basis of the Estonian SME software sector) 

    OpenAIRE

    Paavo Siimann; Jaan Alver

    2015-01-01

    Service companies earn their profit mainly due to their employees’ intellectual skills, therefore, increasing profit per employee is one opportunity to increase profit and thereby also the company’s market value. In this article the number of employees, the value of owners’ equity and loan capital, operating expenses, net sales and profit before income tax have been used to analyse the change in profit per employee of the Estonian software small and medium-sized enterprise (SME) sector in ...

  10. DOD Contractor Profitability 1980-1984

    Science.gov (United States)

    1985-12-01

    compdny’s control), surf)lus, and retdined earnings. 2. Seleccion of a Profit ~~asure A number of prot1t measures have been used in s t u d y i n g de E...iC- GGG GGG GGG L"II .:)S. 0.. S.t?ACr; F1ŕC COHPOkA’l’ I ON 1. ~1C Corp. is the world’s largest ~roducer of natural sod~ ash and

  11. Beyond Good and Evil: Understanding the Role of For-Profits in Education through the Theories of Disruptive Innovation. Private Enterprise in American Education. Special Report 1

    Science.gov (United States)

    Horn, Michael B.

    2011-01-01

    For decades, for-profit educational provision has been tolerated, often grudgingly. In the world of charter schooling, for-profit providers are lambasted and sometimes prohibited. In higher education, for-profit institutions have grown rapidly, enrolling millions of nontraditional students and earning enmity, suspicion, and now investigative and…

  12. Earnings Public-Use File, 2006

    Data.gov (United States)

    Social Security Administration — Social Security Administration released Earnings Public-Use File (EPUF) for 2006. File contains earnings information for individuals drawn from a systematic random...

  13. DataProfit

    DEFF Research Database (Denmark)

    2016-01-01

    DataProfit er et værktøj til at kortlægge og analysere din virksomheds evne til datadreven forretningsudvikling.......DataProfit er et værktøj til at kortlægge og analysere din virksomheds evne til datadreven forretningsudvikling....

  14. Profit vs. Purpose

    DEFF Research Database (Denmark)

    Strand, Robert

    2017-01-01

    Money helps us meet our basic needs, but what about our need for meaning? Businesses will profit — not just financially — by finding their souls.......Money helps us meet our basic needs, but what about our need for meaning? Businesses will profit — not just financially — by finding their souls....

  15. Profit maximization mitigates competition

    DEFF Research Database (Denmark)

    Dierker, Egbert; Grodal, Birgit

    1996-01-01

    competition than utility maximization. Since profit maximization tends to raise prices, it may be regarded as beneficial for the owners as a whole. Moreover, if profit maximization is a good proxy for utility maximization, then there is no need for a general equilibrium analysis that takes the distribution...

  16. Management Information & Control for Earnings

    Data.gov (United States)

    Social Security Administration — Provides the ability to track and manage earnings inquiries from the general public by automated selection of cases for quality review. It also provides Management...

  17. 48 CFR 970.5215-3 - Conditional payment of fee, profit, and other incentives-facility management contracts

    Science.gov (United States)

    2010-10-01

    ..., profit, and other incentives-facility management contracts 970.5215-3 Section 970.5215-3 Federal....5215-3 Conditional payment of fee, profit, and other incentives—facility management contracts As... Incentives—Facility Management Contracts (AUG 2009) (a) General. (1) The payment of earned fee, fixed fee...

  18. 573 Earnings-Dividend Relationship in Corporate Nigeria; A Test of ...

    African Journals Online (AJOL)

    User

    2010-10-17

    Oct 17, 2010 ... Nigerian capital market in order to improve market efficiency and potential benefits derivable from the ... rewards, which normally should accrue from their investments for risk taking. For finite horizon ... investment opportunities, profitability of operations and stability of earnings. Others include access to the ...

  19. PENGARUH PENGUNGKAPAN CORPORATE SOCIAL RESPONSIBILITY TERHADAP EARNING RESPONSE COEFFICIENT

    Directory of Open Access Journals (Sweden)

    MI Mitha Dwi Restuti

    2012-03-01

    Full Text Available Tujuan penelitian ini adalah untuk mengetahui pengaruh negatif pengungkapan Corporate Sosial Responsibility (CSR disclosure terhadap Earning Response Coefficient (ERC. Alat analisis yang digunakan dalam penelitian ini menggunakan metode analisis regresi berganda.Sampel yang digunakan adalah sebanyak 150 perusahaan yang terdaftar pada Bursa Efek Indonesia pada tahun 2010. Berdasarkan hasil penelitian ditemukan bahwa pengungkapan Corporate Social Responsibility tidak berpengaruh terhadap Earning Response Coefficient (ERC. Hal ini dapat dikatakan bahwa investor belum memperhatikan informasi-informasi sosial yang diungkapkan dalam laporan tahunan perusahaan sebagai informasi yang dapat mempengaruhi investor dalam melakukan keputusan investasi. Investor masih mengganggap informasi laba lebih bermanfaat dalam menilai perusahaan dan dianggap lebih mampu memberikan informasi untuk mendapatkan return saham yang diharapkan oleh investor dibandingkan dengan informasi sosial yang diungkapkan oleh perusahaan.The purpose of this study is to determine the negative effect of Corporate Social Responsibility disclosure (CSR disclosure of Earnings Response Coefficient (ERC. Multiple regressions were used to analyze the data. The samples were 150 companies listed on the Indonesia Stock Exchange in 2010. Based on the research, the result was the disclosures of Corporate Social Responsibility did not influence Earning Response Coefficient (ECR. It can be said that investors did not pay attention to social information that was disclosed in the company’s annual report as information that could affect investors in making investment decisions. Investor did not consider sosial information; they only consider profit information to assess the company value and their investment return

  20. Board of Commisioner Duality Role, Governance and Earnings Management of Initial Public Offerings in Indonesia

    Directory of Open Access Journals (Sweden)

    Widi Prasetiawati

    2011-09-01

    Full Text Available Public firm is required to implement good corporate governance as assurance to reduce information asymmetry between firm and its stockholders. Corporate governance mechanism should be able to limit any improper actions of the firm’s management. This study investigates whether the duality role of the board affects earnings management practice of firms making initial public offering at Indonesian Stock Exchange. The study also examines other corporate governance mechanism factors, namely the number of board of commission-ners, the proportion of independent board of commissioners, size of firm, financial leverage, and profitability. Earnings management was measured using Cross-Sectional Modified Jones model. The study employs a total of 60 firms that went public from 2000 to 2006. The results show that duality status of board of commissioners positively and significantly affects earnings management in IPO firms. This could be interpreted that board of directors with duality role had a lower function in monitoring the firms’ performance so that management have opportunity to manage reported earnings. When board of commissioners have dual role, the level of earnings management is getting intense, and vice versa. Size of board of commissioners and profitability are positively related to earnings management.

  1. An investigation on important factors influencing on forecasted earnings adjustment: Evidence from Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Fatemeh Babakhani

    2014-01-01

    Full Text Available This paper presents an empirical investigation to detect important factors influencing earning adjustment on firms selected on Tehran Stock Exchange over the period 2006-2011. There are four independent variables associated with the proposed study of this paper including Proportion of shares owned by institutional investors, Return on assets, Profit change and Market value to book value. In addition, Investment restructuring is considered as control variable. The results of the implementation of regression analysis indicate that there was a reverse relationship between earning forecasted adjustment and two independent variables including size of firm as well as the ratio of market value to book value. However, Net profit has a direct and positive relationship with earning forecast adjustment.

  2. For-Profit Colleges

    National Research Council Canada - National Science Library

    David Deming; Claudia Goldin; Lawrence Katz

    2013-01-01

    For-profit, or proprietary, colleges are the fastest-growing postsecondary schools in the nation, enrolling a disproportionately high share of disadvantaged and minority students and those ill-prepared for college...

  3. Combining Purpose With Profits

    DEFF Research Database (Denmark)

    Julian Birkinshaw, Julian; Foss, Nicolai Juul; Lindenberg, Siegwart

    2014-01-01

    A sense of purpose that transcends making money can motivate employees. But to sustain both a sense of purpose and a solid level of profitability over time, companies need to pay attention to several fundamental organizing principles.......A sense of purpose that transcends making money can motivate employees. But to sustain both a sense of purpose and a solid level of profitability over time, companies need to pay attention to several fundamental organizing principles....

  4. Determinants of Bank Profitability

    OpenAIRE

    Mukesh Chaudhry; Arjun Chatrath; Ravindra Kamath

    1995-01-01

    This study investigates the determinants of profitability of U.S. commercial banks in the 1970s and 1980s. It is established that banks, depending on their size, may need to exercise greater control over a defined set of variables in order to maximize profits and/or minimize costs. Further, the study provides some indirect evidence of economies of scale/scope in certain aspects of the banksÕ loan and investment portfolios.

  5. Measuring Bank Profit Efficiency

    OpenAIRE

    Fitzpatrick, Trevor; McQuinn, Kieran

    2005-01-01

    This paper proposes that a variant of the Battese and Coelli (1995) inefficiency model can be applied as a consistent and unifying framework in exploring the determinants of credit institutions’ profit inefficiency scores. To date, work concerned with the potential determinants of credit institutions' profit inefficiency levels has addressed the issue in either a single-step or multi-step process. In the former, inefficiency scores are conditioned by region and bank-specific indicators, while...

  6. Market Response toward Accrual Earnings Management, Real Transactions, and Strategic Revenue Recognition - Earnings Management1

    Directory of Open Access Journals (Sweden)

    Windy Puspita Dewi

    2015-01-01

    Full Text Available This study investigates how the capital market response to a variety of earnings management tools i.e., accrual-based earnings management, real transaction activities, and strategic revenue recognition. We measure the market response to the information content of earnings by the earnings response coefficient (ERC. By using pooled-OLS regression from 748 firm-years data of public listed companies on the Indonesian Stock Exchange (IDX in 2004-2009, we find some evidence of a negative association between earnings response coefficients and information content of earnings that contained earnings management. Our study find that real transactions earnings management in operating activities has negative association with earnings response coefficient, but we do not find any evidence from the other earnings management tools. The findings of this study imply that the market participants are able to capture a certain kind of earnings management behaviour that may reduce the earnings response coefficient.

  7. Thoughts on Earned Value Assessments

    Science.gov (United States)

    Pido, Kelle

    2009-01-01

    This slide presentation reviews the concepts of Earned Value reporting and Earned Value Metrics (EVM) and the implementation for the Constellation Program. EVM is used to manage both the contract and civil service workforce, and used as a measure of contractor costs and performance. The Program EVM is not as useful for Level of Effort tasking, for either contractor, or civil service employees. Some issues and concerns in reference to EVM and the process for the use of EVM for Mission assurance are reviewed,

  8. Cash Flows versus Accounting Earnings in Managing Exchange Rate Exposures: An Empirical Study of Non-Financial Companies

    DEFF Research Database (Denmark)

    Aabo, Tom

    Financial theory argues that companies should manage cash flows and not accounting earnings when they hedge exchange rate exposures. Still, empirical evidence shows that a number of companies choose to manage accounting earnings. This empirical study of Danish, non-financial companies finds (1......) that when hedging the majority of companies expect to add value to their company by avoiding financial distress (reduce down side risk), (2) that when hedging managing cash flows versus managing accounting earnings as a first priority splits the companies in two, (3) a lack of difference (except...... for profitability) in company characteristics between the group of companies that manage cash flows versus the group of companies that manage accounting earnings as a first priority. The decision in real business on whether to manage cash flows or accounting earnings when hedging exchange rate exposures seems...

  9. Financialization and financial profit

    Directory of Open Access Journals (Sweden)

    Arturo Guillén

    2014-09-01

    Full Text Available This article starts from the critical review of the concept of financial capital. I consider it is necessary not to confuse this category with of financialization, which has acquired a certificate of naturalization from the rise of neoliberalism. Although financial monopoly-financial capital is the hegemonic segment of the bourgeoisie in the major capitalist countries, their dominance does not imply, a fortiori, financialization of economic activity, since it depends of the conditions of the process reproduction of capital. The emergence of joint stock companies modified the formation of the average rate of profit. The "promoter profit" becomes one of the main forms of income of monopoly-financial capital. It is postulated that financial profit is a kind of "extraordinary surplus-value" which is appropriated by monopoly-financial capital by means of the monopolistic control it exerts on the issue and circulation of fictitious capital.

  10. The influence of temporary differences between accounting and tax revenues, proprietary costs and liquidity on profit growth

    Directory of Open Access Journals (Sweden)

    NURAMALIA HASANAH

    2017-07-01

    Full Text Available This study aimed to examine the influence of temporary differences between accounting profit and tax, proprietary costs, and Liquidity toward earnings growth of the companies listed in Indonesia Stock Exchange (IDX 2011-2012. The factors examined in this study are temporary differences between accounting profit and tax, proprietary costs, and liquidity as an independent variable, while earnings growth has the dependent variable. This study used a descriptive quantitative method using secondary data and the number of samples collected was thirty- eight (38 that have met the criteria the researchers used purposive sampling. From the data that has been collected and then processed and analyzed using multiple regression analysis with a significance level of 0.05. This research proves temporary differences between accounting profit and tax has no significant influence on earnings growth, proprietary cost has no significant influence on earnings growth, and liquidity has negatively significant influence earnings growth. Temporary differences between accounting profit and tax, proprietary costs, and liquidity together or simultaneously significant influence toward the earnings growth.

  11. Determinants of Profitability of Food Industry in India: A Size-Wise Analysis

    Directory of Open Access Journals (Sweden)

    Ramachandran Azhagaiah

    2012-01-01

    Full Text Available Profitability is the profit earning capacity, which is a crucial factorin contributing to the survival of firms. This paper is a maidenattempt at estimating the impact of size on profitability, consideringthe ‘size’ as the control variable. For this purpose, the selectedfirms are classified into three size categories as ‘small,’ ‘medium,’and ‘large’ based on the sales turnover. The results show that volatilityand growth are the major predictors in determining profitabilityin case of small size firms while growth is important in determiningthe profitability of medium size firms. Capital intensityhas a significant positive coefficient with the profitability of largesize firms. The overall result shows that the larger the size of thefirm, the more the investment in long lived assets has helped toincrease the profitability of the firm unlike the trend in cases ofsmall size and medium size firms.

  12. Sexual orientation, disclosure and earnings

    NARCIS (Netherlands)

    Plug, E.; Berkhout, P.

    2008-01-01

    Gay/bisexual workers tend to earn less than other men. Does this occur because of discrimination or because of selection? In this paper we address this question and collect new information on workplace disclosure to separate out discrimination effects from selection effects. Using a large sample of

  13. Capital Structure and Profitability of Quoted Companies in Nigeria

    Directory of Open Access Journals (Sweden)

    AMOS O. AROWOSHEGBE. Ph.D; ACA.

    2013-07-01

    Full Text Available The study examined the relationship of capital structure to profitability of quoted firms in Nigeria. The study was based on a panel data set from 1996 to 2010 comprising sixty non – financial companies. The study specified two panel regression models. Two profitability measures: Net Profit Margin (NPM and Operating Profit Margin (OPM were taken as the dependent variables respectively. The principal explanatory variable for each of the models was Debt Ratio (DR. The results of the study indicated that there was a significant negative relationship between capital structure and profitability of quoted companies in Nigeria. Indeed, the results the Pecking order theory that profitable firms do not target an optimal level of leverage to balance the benefits and costs of debt financing. Rather, firms use retained earnings first, then debts and finally equity. Such firms would actually be paying high tax charges and also high operating costs arising from over dependence on the money market for their funds requirements. It was recommended that appropriate fiscal policies, relevant capital market institutional and legal framework should be put in place. These measures, we believe, will ensure better access to funds and reduce the cost of doing business.

  14. Medical Schools for Profit?

    African Journals Online (AJOL)

    and that funding is only spent on that will deliver more or better medical education. So staffing and other resources will be kept to the minimum required to deliver a high‑quality service. Secondly as in other walks of life, the profit motive should be a driver of innovation, and this should also be the case in medical education.

  15. From People to Profits.

    Science.gov (United States)

    Barber, L.; Hayday, S.; Bevan, S.

    An empirical test of the service-profit chain in a large United Kingdom retail business explored how employee attitudes and behavior can improve customer retention and, consequently, company sales performance. Data were collected from 65,000 employees and 25,000 customers from almost 100 stores. The business collected customer satisfaction for…

  16. Causes of Earnings Volatility and Risk Sharing

    OpenAIRE

    Donggyun Shin

    2011-01-01

    This paper investigates the causes of volatility of household heads’ earnings, evaluates the extent to which variability of the heads’ earnings is translated into changes in household consumption, and, in the process, identifies effective measures of smoothing idiosyncratic earnings variation. Analysis, based on the Panel Study of Income Dynamics (PSID) data, reveals that, although causes of the earnings volatility are multi-dimensional, job separations are closely related with substantia...

  17. Pay More, Earn Less, Work Harder - New Evidence on Foreign Subsidiary Performance and Market Efficiency in Emerging Markets

    OpenAIRE

    Jensen, Camilla

    2009-01-01

    Foreign subsidiary performance and market efficiency effects are estimated and confronted in this paper using a rich firm-level panel for Polish manufacturing. Besides estimating total factor productivity, other performance measures are calculated and contrasted such as labor productivity, employment growth, markup levels and profitability. The findings show that foreign subsidiaries in Poland pay more (in wages and capital), earn less (in terms of profitability or ROA) and work harder (in te...

  18. Earnings of Students Who Change Universities

    Science.gov (United States)

    Holmlund, Linda; Regner, Hakan

    2012-01-01

    Using data on Swedish university entrants, this study finds that earnings are significantly lower for students who change universities compared to students who do not change. Earnings differences decrease over time and over the earnings distribution. The pattern in the estimates seems consistent with non-transfer students having higher earnings…

  19. Earnings among people with spinal cord injury.

    Science.gov (United States)

    Krause, James S; Terza, Joseph V; Dismuke, Clara

    2008-08-01

    To identify differences in conditional and unconditional earnings among participants with spinal cord injury (SCI) attributable to biographic, injury, educational, and employment factors by using a 2-part model (employment, earnings). A secondary analysis of cross-sectional survey data. A Midwestern university hospital and a private hospital in the Southeastern United States. All participants (N=1296) were adults between the ages of 18 and 64 who had a traumatic SCI at least 1 year before study initiation. Not applicable. Earnings were defined by earnings within the previous 12 months and were measured by a single categoric item. Conditional earnings reflect the earnings of employed participants, whereas unconditional earnings reflect all participants with $0 in earnings recorded for those unemployed. Sex and race were significantly related to conditional earnings, even after controlling for educational and vocational variables. Additionally, conditional earnings (employed participants only) were related to 16 or more years of education, number of years employed, the percentage of time after SCI spent employed, and working in either government or private industry (not self-employed or family business). There was a greater number of significant variables for unconditional earnings, largely reflective of the influence of the portion employed (those not working having $0 in earnings). Efforts to improve employment outcomes should focus on facilitating return to work immediately after injury, returning to preinjury job, maintaining regular employment, and working for placement in government or private industry. Special efforts may be needed to promote vocational outcomes among women and nonwhites.

  20. The LHCb Upstream Tracker Project

    CERN Document Server

    Steinkamp, Olaf

    2015-01-01

    The LHCb detector performs searches for New Physics in CP-violating observables and rare heavy-quark decays at the LHC. A comprehensive upgrade is planned for the long shutdown of the LHC in 2018/19. A goal of this upgrade is to abolish hardware triggers and read out the full detector at 40 MHz. This requires to replace the existing TT station upstream of the LHCb magnet by a new silicon micro-strip detector, the Upstream Tracker (UT). The UT will have a new front-end chip compatible with 40 MHz readout, silicon sensors with improved radiation hardness, finer readout granularity, and improved acceptance coverage at small polar angles. The outer region of each detection layer will be covered by p-in-n sensors with 10 cm long strips and a pitch of about 180 mum, while n-in-p sensors with half the pitch and strip length will be employed in the regions of highest particle density close to the beam pipe. The innermost sensors will have a circular cutout to optimize the forward acceptance. The front-end chip is bei...

  1. Profit and place

    Directory of Open Access Journals (Sweden)

    Ian Bentley

    1997-01-01

    Full Text Available The article deals with the physical and symbolic effects the built environment has on human activities in a capitalist economy. The built environment is integrated in the capitalist economy on three levels: as the focus of a profit-oriented manufacturing industry, as the setting for all sorts of other enterprises and as the built context of the whole economy. The built environment is understood as a commodity. The capitalist system contains inbuilt tensions which have important design implications: the first tension arises because the system, if left to itself, lacks any overall planning functions, the second tension stems from the ability of the system to generate profit and the third arises from the character of labour, which distinguishes it from other commodities used in the production process. In conclusion methods of designing built environments, which perpetuate social order, are discussed.

  2. New high profitable wind turbines

    Energy Technology Data Exchange (ETDEWEB)

    Frankovic, Bernard [Rijeka Univ., Faculty of Engineering, Rijeka (Croatia); Vrsalovic, Ivan [Rijekaprojekt d.o.o., Rijeka (Croatia)

    2001-11-01

    To generate more quantities of electric energy from wind it is necessary to use a new type of wind turbine built in the regulable mantle's nozzle. This wind turbine type replaces the free air stream from wind by a programmed, i.e. regulated, and partially concentrated stream of air. The nozzle shell is designed as an aerodynamically shaped ring with wings with its lower pressure side pointed towards the centre so that the lift force on each part of the wing is directed radially towards the centre. This induces centrifugal reaction force in the airflow that causes the stream field to expand strongly downstream of the rotor and includes a greater number of streamlines in the active stream in front of the rotor (upstream). Thus the nozzle forces a higher mass flow rate of air through the turbine. The higher mass flow and higher velocity reduction behind the rotor result in a higher energy output from the wind turbine in the nozzle. In this way the wind turbine efficiency is multiplied. New turbines induce more power from weaker and medium winds and their lasting time, because of the relation p = f(v{sup 3}) (i.e. the power corresponds to wind velocity raised to third power). Wind turbine nozzle produces three times more energy than conventional wind turbine. Short economic analysis for conditions of the island of Lastovo indicates that profit gained by new turbines is up to five times higher than by conventional turbines. The new wind turbine nozzle should generate interest and demand on an international market, even for regions with weaker winds. (Author)

  3. Determinants of Tunisian Bank Profitability

    OpenAIRE

    Raoudha Bejaoui; Houssam Bouzgarrou

    2014-01-01

    The aim of this study is to examine the persistence of profit and the effect of bank-specific determinants of Tunisian bank profitability. To account for profit persistence, we apply a dynamic panel model, using Generalized Methods of Moments (GMM) system for 16 Tunisian commercial banks, divided into 11 deposit banks and 5 development banks during the period 1999-2010. The estimates show that the evidence for profit persistence is positive and significant for both deposit and development ban...

  4. An investigation on the effects of the profit quality structures on Iranian Co. capital cost

    Directory of Open Access Journals (Sweden)

    Hassan Ghodrati

    2013-06-01

    Full Text Available This paper evaluates the effect of profit quality structures on capital cost and the primary objective is to disclose the effect to investors. The research methodology is practical based on its goal and its research design is Expose-Facto. The study selects 36 Iranian firms as statistical sample over the period 2006-2010 from some Iranian firms and the study selects post performances from their financial reports. The statistical parameters, statistical plots, multiple-variables linear-regression and correlation analysis are implemented for data analysis. The results show that the estimated model could explain 22 percentages of variable changes. This means that there is a weak linear relationship between cost of capital and profit persistence, profit predictability and other variables. Based on the regression estimation we concluded that there was a direct relationship between earnings persistence and cost of capital and there was a reverse relationship between earnings predictability and cost of capital.

  5. Earnings quality and P/E ratio: Evidence from Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Hassan Ghodrati

    2014-08-01

    Full Text Available This paper evaluates the impacts of earnings quality criteria on the ratio of price to earnings per share (P/E on 88 accepted companies in Tehran Stock Exchange (TSE over the period 2007- 2012. The results indicate that there was a positive and significant relationship between the P/E ratio and cash dividend. There is also a positive and significant relationship between P/E ratio as dependent variable and the gross profit ratio to sales. On the other hand, there is a significant reverse relationship between P/E ratio and the profit variability. However, no significant relationship exists between P/E as dependent variable and deferrals (accruals variable.

  6. The gender earnings gap among pharmacists.

    Science.gov (United States)

    Carvajal, Manuel J; Armayor, Graciela M; Deziel, Lisa

    2012-01-01

    A gender earnings gap exists across professions. Compared with men, women earn consistently lower income levels. The determinants of wages and salaries should be explored to assess whether a gender earnings gap exists in the pharmacy profession. The objectives of this study were to (1) compare the responses of male and female pharmacists' earnings with human-capital stock, workers' preferences, and opinion variables and (2) assess whether the earnings determination models for male and female pharmacists yielded similar results in estimating the wage-and-salary gap through earnings projections, the influence of each explanatory variable, and gender differences in statistical significance. Data were collected through the use of a 37-question survey mailed to registered pharmacists in South Florida, United States. Earnings functions were formulated and tested separately for male and female pharmacists using unlogged and semilog equation forms. Number of hours worked, human-capital stock, job preferences, and opinion variables were hypothesized to explain wage-and-salary differentials. The empirical evidence led to 3 major conclusions: (1) men's and women's earnings sometimes were influenced by different stimuli, and when they responded to the same variables, the effect often was different; (2) although the influence of some explanatory variables on earnings differed in the unlogged and semilog equations, the earnings projections derived from both equation forms for male and female pharmacists were remarkably similar and yielded nearly identical male-female earnings ratios; and (3) controlling for number of hours worked, human-capital stock, job preferences, and opinion variables reduced the initial unadjusted male-female earnings ratios only slightly, which pointed toward the presence of gender bias. After controlling for human-capital stock, job-related characteristics, and opinion variables, male pharmacists continued to earn higher income levels than female

  7. METKA - Forest energy profitably

    Energy Technology Data Exchange (ETDEWEB)

    Kymaelaeinen, M. (FMA Kanta-Hame, Hameenlinna (Finland)); Rieppo, K. (TTS Research, Hameenlinna (Finland)), e-mail: matti.kymalainen@mhy.fi, e-mail: kaarlo.rieppo@tts.fi

    2010-07-01

    The harvesting and profitability of forest energy in Finland is practically entirely dependent on state subsidies. Currently, there is a lot to improve in forest energy knowledge and competence. METKA - Forest energy profitably project (2008-2011) aims at increasing the cost efficiency of the forest energy chain and the volume of the supply chain in Haeme region. The project ia coordinated by Forest Management Association Kanta-Haeme (Kanta-Haemeen Metsanhoitoyhdistys ry). Project partners include FMA Paeijaet-Haeme, TTS Research and the Finnish Forest Research Institute's (METLA) Joensuu unit. METKA -project belongs to the Rural Development Programme for Mainland Finland 2007-2013 and is being funded partly by the European Agricultural Fund for Rural Development (EAFRD). The final project objective is to develop a new operational forest energy model for FMA Kanta-Haeme and FMA Paeijaet-Haeme. In order to create the operational model, the project has been divided into several sub-tasks, in which TTS Research and Metla are responsible for the research. TTS Research conducts studies that focus on forest energy harvesting and processing. The studies investigate especially small-diameter energy wood harvesting. Majority of the studies investigate the use of time, and they form the basis for cost and profit analyses. Metla is responsible or areas of research that contribute to the development of a forest energy storage's moisture estimation algorithm and a forest energy harvesting yield calculation program. Upon completion, the calculation program and the estimation algorithm are integrated to the logistics control system developed by FMA Kanta-Haeme and FMA Paeijaet-Haeme and taken into use as aids in forestry planning. During 2008 and 2009, several practical tests have been performed. Tests will be executed in autumn 2010 as well. The analysis of the results is likely to be completed in 2010, and the results is likely to be completed in 2010, and the results

  8. Does outsourcing affect hospital profitability?

    Science.gov (United States)

    Danvers, Kreag; Nikolov, Pavel

    2010-01-01

    Organizations outsource non-core service functions to achieve cost reductions and strategic benefits, both of which can impact profitability performance. This article examines relations between managerial outsourcing decisions and profitability for a multi-state sample of non-profit hospitals, across 16 states and four regions of the United States. Overall regression results indicate that outsourcing does not necessarily improve hospital profitability. In addition, we identify no profitability impact from outsourcing for urban hospitals, but somewhat positive effects for teaching hospitals. Our regional analysis suggests that hospitals located in the Midwest maintain positive profitability effects with outsourcing, but those located in the South realize negative effects. These findings have implications for cost reduction efforts and the financial viability of non-profit hospitals.

  9. The Service-profit Chain

    DEFF Research Database (Denmark)

    Grønholdt, Lars; Martensen, Anne

    2016-01-01

    This paper examines the links between employee attitudes, customer loyalty and company profitability. From a conceptual point of view, this employee-customer-profit chain, also known as the service-profit chain, is well founded and generally accepted. But for many companies, it seems difficult...... to demonstrate such links, and several issues must be addressed to uncover the links. To investigate these links empirically, a hotel chain provided data matching employee and customer measures with measures of profitability. We have successfully employed a modeling approach, and the paper reports empirical...... evidence of the employee-customer-profit chain. As it is possible to estimate the links, we have demonstrated their effect on company profitability. The research findings provide a better understanding of the service-profit chain and may help practitioners in improving company financial performance....

  10. Family Control and Earnings Quality

    Directory of Open Access Journals (Sweden)

    Carolina Bona Sánchez

    2007-06-01

    Full Text Available El trabajo analiza la relación entre el control familiar y la calidad de la información contable en un contexto en el que el tradicional conflicto de agencia entre directivos y accionistas se desplaza a la divergencia de intereses entre accionistas controladores y minoritarios. Los resultados alcanzados muestran que, en comparación con las no familiares, las empresas de naturaleza familiar divulgan unos resultados de mayor calidad, tanto en términos de menores ajustes por devengo discrecionales como de mayor capacidad de los componentes actuales del resultado para predecir los cash flows futuros. Además, el aumento en los derechos de voto en manos de la familia controladora incrementa la calidad de los resultados contables. La evidencia obtenida se muestra consistente con la presencia de un efecto reputación/vinculación a largo plazo asociado a la empresa familiar. Adicionalmente, el trabajo refleja que a medida que disminuye la divergencia entre los derechos de voto y de cash flow en manos de la familia controladora, aumenta la calidad de la información contable.PALABRAS CLAVE: derechos de voto, divergencia, empresa familiar, calidad delresultado, reputación, beneficios privados.This work examines the relationship between family control and earnings quality in a context where the salient agency problem shifts away from the classical divergence between managers and shareholders to conflicts between the controlling owner and minority shareholders. The results reveal that, compared to non-family firms, family firms reveal higher earnings quality in terms of both lower discretionary accruals and greater predictability of future cash flows. They also show a positive relationship between the level of voting rights held by the controlling family and earnings quality. The evidence is consistent with the presence of a reputation/long-term involvement effect associated with the family firm. Moreover, the work reflects that, as the divergence

  11. Shaping Earnings Mobility: Policy and Institutional Factors

    Directory of Open Access Journals (Sweden)

    Cathal O’Donoghue

    2011-12-01

    Full Text Available This paper explores the role of labour market policy and institutional factors in explaining cross-national differences in earnings mobility across Europe in the 1990s using the European Community Household Panel and OECD data on institutional variables. More regulation in both labour and product markets emerge as sources of labour market rigidity, being positively associated with earnings immobility and exacerbating the adverse effects of macro-economic shocks on earnings mobility. Unionization is found to promote earnings mobility, effect, however, counteracted in periods with adverse macroeconomic shocks. Corporatism is found to promote mobility and to counteract the adverse effects of macroeconomic shocks on earnings mobility. The generosity of the unemployment benefit is found to limit the adverse effects of macroeconomic shocks on earnings mobility.

  12. Does it pay to attend a for-profit college? Vertical and horizontal stratification in higher education.

    Science.gov (United States)

    Denice, Patrick

    2015-07-01

    Despite the recent growth of for-profit colleges, scholars are only beginning to understand the labor market consequences of attending these institutions. Using data from the National Longitudinal Survey of Youth 1997, I find that for-profit associate's degree holders encounter lower hourly earnings than associate's degree holders educated at public or private, nonprofit colleges, and earnings that are not significantly different than high school graduates. However, individuals who complete a bachelor's degree by attending college in either the for-profit or nonprofit sectors encounter positive returns. These findings, robust to model selection, suggest that the distinction between for-profit and nonprofit colleges constitutes an important axis in the horizontal dimension of education at the sub-baccalaureate level, and complicate notions of vertical stratification such that higher levels of educational attainment do not necessarily guarantee a wage premium. Copyright © 2015 Elsevier Inc. All rights reserved.

  13. The importance of working capital management for hospital profitability: evidence from bond-issuing, not-for-profit U.S. hospitals.

    Science.gov (United States)

    Rauscher, Simone; Wheeler, John R C

    2012-01-01

    Increased financial pressures on hospitals have elevated the importance of working capital management, that is, the management of current assets and current liabilities, for hospitals' profitability. Efficient working capital management allows hospitals to reduce their holdings of current assets, such as inventory and accounts receivable, which earn no interest income and require financing with short-term debt. The resulting cash inflows can be reinvested in interest-bearing financial instruments or used to reduce short-term borrowing, thus improving the profitability of the organization. This study examines the relationship between hospitals' profitability and their performance at managing two components of working capital: accounts receivable, measured in terms of hospitals' average collection periods, and accounts payable, measured in terms of hospitals' average payment periods. Panel data derived from audited financial statements for 1,397 bond-issuing, not-for-profit U.S. hospitals for 2000-2007 were analyzed using hospital-level fixed-effects regression analysis. The results show a negative relationship between hospitals' average collection period and profitability. That is, hospitals that collected on their patient revenue faster reported higher profit margins than did hospitals that have larger balances of accounts receivable outstanding. We also found a negative relationship between hospitals' average payment period and their profitability. Hospital managers did not appear to delay paying their vendors. Rather, the findings indicated that more profitable hospitals paid their suppliers faster, possibly to avoid high effective interest rates on outstanding accounts payable, whereas less profitable hospitals waited longer to pay their bills. The findings of this study suggest that working capital management indeed matters for hospitals' profitability. Efforts aimed at reducing large balances in both accounts receivable and accounts payable may frequently be

  14. THE ACCURACY OF EARNINGS FORECAST AND POST-IPO EARNINGS MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Yanthi Hutagaol

    2017-03-01

    Full Text Available Prior studies showed that before IPO, many companies conducted earnings management in order to attractpotential investors through impressive earnings figures. This study aimed to investigate the tendency of earningsmanagement practice post - IPO. This practice of earnings management was motivated to preserve managers’reputation in achieving their earnings forecasts. Using a total of 165 IPOs in IDX during year 2000-2010, thisstudy employed descriptive analyses to identify the earnings management differences within the sample. A crosssectionanalysis was conducted to test the difference of earnings management indicator among the forecasters.Then, controlling for audit quality, ownership, firm size, and firm leverage, a regression analysis was performedto test the impact of earnings forecasts accuracy on the earnings management. The result of this research showedthat there was an indication that the forecasters conducted more earnings management than the non-forecasters.The study found that forecast accuracy was significantly related to managers’ behavior to manage post-IPOearnings. Further analysis showed that optimistic forecasters tended to engage more in more earning managementthan conservative forecasters. The cross section analysis confirmed that optimistic earnings forecast strengthenedthe relationship of forecast accuracy and post-IPO earnings management, while high audit quality failed toweaken it.

  15. The effect of environmental performance and accounting characteristics to earnings informativeness

    Science.gov (United States)

    Herawaty, V.

    2018-01-01

    The objective of this empirical study is to analyze the influence of environmental performance and company’s accounting characteristics to earnings informativeness proxied by earnings response coefficient (ERC) on manufacturing companies listed on Indonesia Stock Exchange and consistently follow the PROPER assessment in 2010–2014. One of the company’s considerations is to create the green environment reflecting its environmental measures, drawing investors to respond to the company’s environmental performance. The data were obtained from Indonesian Capital Market Directory (ICMD), the Indonesia Stock Exchange homepage, the company’s annual reports, the decree of the Minister of Environment. The samples used in this research are 27 go public manufacturing companies listed on Indonesia Stock Exchange that consistently follow the PROPER in 2010–2014. The sampling technique used was the purposive method. This research uses multiple regression analysis. The results show that the environmental performance and profitability have a positive influence to earnings informativeness, while leverage has a negative influence to earnings informativeness. Growth opportunities as a control variable has a positive effect on earnings informativeness. This research has proved that the environmental performance is crucial through observing the investors’ reaction in the capital market.

  16. THE ANALYSIS OF PROFITABILITY INDICATORS

    Directory of Open Access Journals (Sweden)

    SUCIU GHEORGHE

    2013-08-01

    Full Text Available The analysis of profitability indicators is an activity that should preoccupy all companies. Profitabilitydoes not mean only obtaining profit. A company is competitive if the ownership equity grows (the shareholders’money, the company has a profit that is comparable to that of other companies from the same area of activity,has a positive cash flow and the employees are satisfied with their salaries. Multiple indicators are used tomeasure performance: profit, commercial, economic, financial, investment rate of return, breakeven point,economic value added, net operating result.

  17. Improving the Measurement of Earnings Dynamics

    DEFF Research Database (Denmark)

    Daly, Moira K.; Hryshko, Dmytro; Manovskii, Iourii

    The stochastic process for earnings is the key element of incomplete markets models in modern quantitative macroeconomics. We show that a simple modification of the canonical process used in the literature leads to a dramatic improvement in the measurement of earnings dynamics in administrative a...

  18. The College Payoff: Education, Occupations, Lifetime Earnings

    Science.gov (United States)

    Carnevale, Anthony P.; Rose, Stephen J.; Cheah, Ban

    2011-01-01

    A college degree pays off--but by just how much? In this report from the Georgetown University Center on Education and the Workforce, the authors examine just what a college degree is worth--and what else besides a degree might influence an individual's potential earnings. This report examines lifetime earnings for all education levels and…

  19. Insult to Injury: Disability, Earnings, and Divorce

    Science.gov (United States)

    Singleton, Perry

    2012-01-01

    This study measures the longitudinal effect of disability on earnings, marriage, and divorce. The data come from the Survey of Income and Program Participation matched to administrative data on longitudinal earnings. Using event-study methods, the results show that the onset of a work-preventing disability is associated with a precipitous decline…

  20. Earnings progression, human capital and incentives

    DEFF Research Database (Denmark)

    Frederiksen, Anders

    progression by investigating the effects of on-the-job human capital acquisition, explicit short-run incentives and career concern incentives on earnings progression. The model leads to predictions about the incentive structure and the progression in both cross-sectional and individual earnings which...

  1. Intraoccupational Earnings Inequality. Human Capital and Institutional Determinants.

    Science.gov (United States)

    Lorence, Jon

    1987-01-01

    Examines the distribution of earnings within occupations. Finds that these are more widely distributed than earnings among differing occupations. Suggests some gender differences in the processes generating earnings disparities within occupations. (CH)

  2. What happened to real earnings in Egypt, 2008 to 2009?

    OpenAIRE

    Cichello, Paul; Abou-Ali, Hala; Marotta, Daniela

    2013-01-01

    Nominal earnings in Egypt did not respond to the increase in inflation between February 2008 and February 2009, resulting in a 12.3 (9) percent decline in average (median) real earnings among 25 to 60 years old workers. Changes in earnings differ significantly by groups: (i) those with higher initial earnings (reported and predicted) suffered the largest declines in earnings; (ii) men lost more than women but after controlling for initial earnings, women lost considerably more than men; (iii)...

  3. DataProfit

    DEFF Research Database (Denmark)

    Ritter, Thomas; Lund Pedersen, Carsten; Eibe Sørensen, Hans

    Mange erhvervsledere har store forventninger til at bruge data til at tjene penge i deres virksomheder. Dog viser det sig, at det ikke er så ligetil – mange forventninger bliver simpelthen ikke indfriet. Derfor har vi igennem de seneste to år kortlagt de kompetencer, som er nødvendige for at real......Mange erhvervsledere har store forventninger til at bruge data til at tjene penge i deres virksomheder. Dog viser det sig, at det ikke er så ligetil – mange forventninger bliver simpelthen ikke indfriet. Derfor har vi igennem de seneste to år kortlagt de kompetencer, som er nødvendige...... sammen for at udnytte mulighederne for datadreven profitabel vækst. Denne guide giver en anvendelsesorienteret gennemgang af de ni kompetencer i vores kort, som vi kalder for DataProfit. I guiden beskrives hver kompetence – og du inviteres til at analysere din virksomhed. Til sidst sætter vi hele...

  4. Analisis Variabel yang Mempengaruhi Earnings Per Share pada Industri Food And Baverages yang Go Public di Bursa Efek Jakarta

    OpenAIRE

    -, Sutejo -; Salim, Ubud -; Swasto, Bambang -

    2009-01-01

    This research has as its rationale the fact that investors are willing to invest their money in a particular object of investment (stock) if the latter is able to yield a higher return than provided by other objects of investment. Earnings per share is a main indicator used by investors to examine whether or not a particular stock is profitable. Information resulted from earnings per share is fundamentally useful for the financial decision made by firms whose stock is listed in the stock exch...

  5. How Do Families Smooth Household Heads` Earnings Volatility?

    National Research Council Canada - National Science Library

    Ki Seong Park; ; Dong Gyun Shin

    2010-01-01

    We investigate the extent to which household heads` earnings volatility is translated into household consumption volatility, and, in the process, identify measures of smoothing idiosyncratic earnings variation...

  6. Influence of board interlocking on earnings management

    Directory of Open Access Journals (Sweden)

    Paulo Roberto da Cunha

    2017-03-01

    Full Text Available ABSTRACT The participation of directors on more than one board is called “board interlocking”. This phenomenon contributes to the spread of management and governance practices, through directors sharing their knowledge and experiences on other boards. Thus, directors could “carry” the earnings management practices present in one company into another in which they sit on the board. It is assumed that the greater directors’ direct or indirect connections on boards, the greater the sharing of information, especially information that can be reflected in company earnings quality. In light of the above, the aim of this study is to verify the influence of board interlocking on earnings management in companies listed on the São Paulo Stock, Commodities, and Futures Exchange (BM&FBovespa. The study is characterized as descriptive, quantitative, and documentary, and uses a sample of companies listed on the BM&FBOVESPA between 2011 and 2013. For earnings management, the model from Kang and Sivaramakrishnan (1995 was used, while for interlocking, degree centrality measures were used for direct board member connections, and intermediation centrality for indirect connections. The results indicate that earnings management is influenced by the interlocking of board members. It is concluded that the greater the degree centrality, the greater positive earnings management is, and that variations in positive and negative accruals are influenced by board member intermediation. The results reinforce the idea that earnings management behavior can be transferred between companies by the directors that make up their boards.

  7. 26 CFR 1.959-3 - Allocation of distributions to earnings and profits of foreign corporations.

    Science.gov (United States)

    2010-04-01

    ...(b)(2)) located in the United States and distributes $45 to M Corporation, the $20 investment of... Corporation does not, under section 959(b) and § 1.959-2, constitute gross income of M Corporation for 1966...), or (3) of paragraph (b) of this section which is distributed by a foreign corporation through a chain...

  8. 26 CFR 1.964-2 - Treatment of blocked earnings and profits.

    Science.gov (United States)

    2010-04-01

    ... into United States dollars at the appropriate exchange rate for the translation period during which... the taxable year of receipt if such shareholder elects a method of accounting under which the... taxable year 1965, M elects a method of accounting under which the reporting of blocked foreign income is...

  9. Earnings Quality, Earnings Management, and Cross-listings: Evidence from French Firms

    Directory of Open Access Journals (Sweden)

    Trabelsi Slaheddine

    2015-07-01

    Full Text Available This article examines the earnings quality of French firms cross-listed in the United States and United Kingdom, and non-cross-listed French firms. We examined the quality of financial reporting based on measures of earnings management, timely loss recognition (TLR, and price-earnings association. We found that both cross-listings and non-cross-listings show significant earnings smoothing activities and tend to use accruals to manage earnings, and are not timely in loss recognition. We surmise that cross-listing in the United States or United Kingdom has not changed the accounting choices of French cross-listing firms relative to firms that are not cross-listed. However, our findings show that the market considers earnings and book value data of cross-listing firms to be more informative than those of non-cross-listing firms.

  10. Office of Personnel Management (OPM) Earnings

    Data.gov (United States)

    Social Security Administration — Each year the Office of Personnel Management (OPM) sends SSA a file to be verified and matched against the Master Earnings File (MEF) and Employer Information File...

  11. Voluntary Management Earnings Forecasts and Discretionary Accruals

    DEFF Research Database (Denmark)

    Gramlich, Jeffrey; Sørensen, Ole Vagn

    2004-01-01

    as a natural laboratory for learning how business would occur without strict rules, enforcement and sanctions. Danish managers often volunteer pro forma financial statements for results that are expected to occur subsequent to the IPO. We examine a sample of 58 Danish firms that issue voluntary management......This paper seeks to determine whether Danish managers exercise discretionary accruals to reach earnings forecast targets they voluntarily specify in conjunction with initial public offerings (IPOs). Because the Danish accounting and legal environment is more permissive than the US, we use Denmark...... earnings forecasts in connection with IPOs that occur between 1984 and 1996. The evidence we uncover strongly suggests that pre-managed earnings are adjusted toward these targets. In contrast with Kasznik's (1999 Kasznik, R. (1999). On the association between voluntary disclosure and earnings management...

  12. Earnings Management and Corporate Social Responsibility

    National Research Council Canada - National Science Library

    Benjamin Uyagu; Alexander Olawumi Dabor

    2017-01-01

    .... Reliability is the accountant’s terminology for integrity of financial statements. This study focused on the impact of Corporate Social Responsibility on earnings management in the Nigerian manufacturing sectors...

  13. Marianas Boat Fishing Cost Earnings Study 2011

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — These data represent a cost-earnings study of the boat based fishing in the Mariana Archipelago fielded in 2011. Data collected include fisher classification, vessel...

  14. Hawaii Charter Fishing Cost Earnings Survey 2012

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — These data represent a cost-earnings study of the main Hawaiian Island Charter fishing fleet in 2012. Data collected include fisher classification, vessel...

  15. Hawaii Bottomfish Cost-Earnings Survey 2010

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — These data represent a cost-earnings study of the Main Hawaiian Islands bottomfish fishery for the 2010 operating year. Data collected include fisher classification,...

  16. Racial Earnings Differentials and Performance Pay

    Science.gov (United States)

    Heywood, John S.; O'Halloran, Patrick L.

    2005-01-01

    A comparative analysis between output-based payment and time rates payment is presented. It is observed that racial or gender earnings discrimination is more likely in time rates payment and supervisory evaluations.

  17. Immigrants' initial firm allocation and earnings growth

    National Research Council Canada - National Science Library

    Wen Ci; Feng Hou

    2017-01-01

    .... Using a Canadian employer–employee matched dataset, this paper considers whether immigrants initially employed in low-paying firms in Canada experienced inferior earnings growth than those initially employed in high-paying firms...

  18. Cost Earnings Data 1993 - Hawaii Longline

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — These data were collected to support the first cost-earnings study of this fleet. Operational and vessel costs were collected by in-person interviews with vessel...

  19. Earnings persistence across generations: Transmission through health?

    OpenAIRE

    Eriksson, Tor; Bratsberg, Bernt; Raaum, Oddbjørn

    2005-01-01

    Using a unique data set that links adult labour market outcomes and health status of a cohort of Danes and their parents, we study the interrelationships between transmission of health and economic status across generations. We first establish new evidence on intergenerational earnings resemblance in Denmark, obtaining estimates of father-child earnings elasticities of .29 for sons and .27 for daughters. Next, we show that children from low-income families are more likely to experience health...

  20. Related Party Transactions and Earnings Management

    OpenAIRE

    Kuan, Linvani; Tower, Greg; Rusmin, Rusmin; Zahn, J-L.W. Mitchell Van der

    2010-01-01

    This study examines the association between related party transactions and earnings man-agement, based on a sample of 50 Indonesian publicly listed companies for the periods ending 2004 and 2005. The hypothesis developed in this study draw on past literature and the tenets of agency theory which suggest that the existence of related party transactions represent potential conflict of interest which may results in earnings management and appropriation by controlling shareholder to minority shar...

  1. Profit Patterns Across American Agriculture

    OpenAIRE

    Blank, Steven C.; Erickson, Kenneth W.; Moss, Charles B.

    2005-01-01

    To remain viable, agriculture in each location must offer returns that are competitive with those from alternative investments and sufficient to cover producers' financial obligations. Economic theory says that rates of return converge over time as resources flow into more-profitable industries and out of less-profitable industries, causing factor price changes. Both traditional growth and trade theories say factor markets will adjust to equalize commodity returns over time. This study examin...

  2. Earnings Quality Measures and Excess Returns.

    Science.gov (United States)

    Perotti, Pietro; Wagenhofer, Alfred

    2014-06-01

    This paper examines how commonly used earnings quality measures fulfill a key objective of financial reporting, i.e., improving decision usefulness for investors. We propose a stock-price-based measure for assessing the quality of earnings quality measures. We predict that firms with higher earnings quality will be less mispriced than other firms. Mispricing is measured by the difference of the mean absolute excess returns of portfolios formed on high and low values of a measure. We examine persistence, predictability, two measures of smoothness, abnormal accruals, accruals quality, earnings response coefficient and value relevance. For a large sample of US non-financial firms over the period 1988-2007, we show that all measures except for smoothness are negatively associated with absolute excess returns, suggesting that smoothness is generally a favorable attribute of earnings. Accruals measures generate the largest spread in absolute excess returns, followed by smoothness and market-based measures. These results lend support to the widespread use of accruals measures as overall measures of earnings quality in the literature.

  3. KEPEMILIKAN INSTITUSIONAL DAN KUALITAS AUDIT TERHADAP PENGUNGKAPAN INFORMASI DAN FUTURE EARNINGS RESPONSE COEFFICIENT

    Directory of Open Access Journals (Sweden)

    Etty Murwaningsari

    2017-03-01

    Full Text Available The objectives of this research were to analyze the direct effects of institutional ownership and audit qualitytowards future earnings response coefficient, as well as their indirect effects towards future earnings responsecoefficient through disclosure as intervening variable. This research used secondary data from manufacturingcompanies listed in Indonesia Stock Exchange (IDX between 2002-2011. The number of samples used in thisresearch were 111companies. The method used in this research was Structure Equation Model (SEM processedusing AMOS 6. The results of this research demonstrated that institutional ownership and disclosure hadpositive significant effect while audit quality had negative significant effects towards future earnings responsecoefficient. On the other hand, institutional ownership had positive significant effect while audit quality hadnegative significant effects towards disclosure. Further testing proved that indirect effect was very weak.Control variable which had positive significant effect was profitability towards disclosure while leverage andlong term investment had negative significant towards future earnings response coefficient. Liquidity variableswere proven that they had no effect towards disclosure.

  4. 20 CFR 302.4 - Nonqualifying earnings or payments.

    Science.gov (United States)

    2010-04-01

    ... lost; (e) Wages from employment that is subject to the Federal Unemployment Tax Act; (f) Earnings from... 20 Employees' Benefits 1 2010-04-01 2010-04-01 false Nonqualifying earnings or payments. 302.4... INSURANCE ACT QUALIFIED EMPLOYEE § 302.4 Nonqualifying earnings or payments. The following types of earnings...

  5. 46 CFR 287.14 - Deposit of earnings and receipts.

    Science.gov (United States)

    2010-10-01

    ... 46 Shipping 8 2010-10-01 2010-10-01 false Deposit of earnings and receipts. 287.14 Section 287.14... OPERATORS ESTABLISHMENT OF CONSTRUCTION RESERVE FUNDS § 287.14 Deposit of earnings and receipts. (a) Earnings. A citizen may deposit all or any part of earnings derived from the operation, within the scope of...

  6. Geographic Differences in the Earnings of Economics Majors

    Science.gov (United States)

    Winters, John V.; Xu, Weineng

    2014-01-01

    Economics has been shown to be a relatively high-earning college major, but geographic differences in earnings have been largely overlooked. The authors of this article use the American Community Survey to examine geographic differences in both absolute earnings and relative earnings for economics majors. They find that there are substantial…

  7. Trade Credit, Future Earnings, and Stock Returns: A Self-Dealing Perspective

    Directory of Open Access Journals (Sweden)

    Jigao Zhu

    2009-12-01

    Full Text Available Chinese listed firms are characterized by a great magnitude of long-duration accounts receivable from controlling shareholders and their affiliates, and they often do not make bad debt allowances. On many occasions, these receivables are never collected. We find that firms with a great magnitude of accounts receivable demonstrate a low level of future profitability and low stock returns. It does not appear that the low earnings persistence of these firms is responsible for their poor future performance as predicted by the accrual anomaly, because the firms also report low concurrent earnings. In the context of the Chinese stock market, we interpret the results as being consistent with self-dealing through trade credit by controlling shareholders. This study contributes to the self-dealing literature by identifying a more subtle channel of expropriation of minority shareholders in China.

  8. The Relation Between Cash Holdings and Earnings Persistence

    OpenAIRE

    Yoshinaga, Yuto

    2015-01-01

    Our research question is whether corporate cash holdings can benefit firms through improving earnings persistence which is one of the measures of earnings quality. In order to answer this question, we test whether and how cash holdings are related to earnings persistence. Our results show a strong positive relation between cash holdings and earnings persistence. Next, we examine whether this relation holds after controlling for earnings volatility, since Dichev and Tang (2009) find a strong n...

  9. Persistence of quarterly earnings: an empirical investigation in Brazil

    OpenAIRE

    Renê Coppe Pimentel; Andson Braga de Aguiar

    2012-01-01

    The aim of this paper is to estimate and analyze quarterly earnings persistence. In addition, we explore if earnings persistence varies across firms based on size and corporate governance standards. We first estimate the parameter revision of earnings and then we test the hypotheses that the parameter of earnings persistence is different for firms with different sizes (H1) and corporate governance standards (H2). We collect data from Brazilian listed firms with quarterly earnings per share av...

  10. Open pit mining profit maximization considering selling stage and waste rehabilitation cost

    Science.gov (United States)

    Muttaqin, B. I. A.; Rosyidi, C. N.

    2017-11-01

    In open pit mining activities, determination of the cut-off grade becomes crucial for the company since the cut-off grade affects how much profit will be earned for the mining company. In this study, we developed a cut-off grade determination mode for the open pit mining industry considering the cost of mining, waste removal (rehabilitation) cost, processing cost, fixed cost, and selling stage cost. The main goal of this study is to develop a model of cut-off grade determination to get the maximum total profit. Secondly, this study is also developed to observe the model of sensitivity based on changes in the cost components. The optimization results show that the models can help mining company managers to determine the optimal cut-off grade and also estimate how much profit that can be earned by the mining company. To illustrate the application of the models, a numerical example and a set of sensitivity analysis are presented. From the results of sensitivity analysis, we conclude that the changes in the sales price greatly affects the optimal cut-off value and the total profit.

  11. Electronic Payments Profitability Extent Model

    Directory of Open Access Journals (Sweden)

    Rudolf Vohnout

    2016-12-01

    Full Text Available Cashless payments are recent phenomena, which even increased with the introduction of contactless means like NFC, PayPass or payWave. Such new methods speed-up the entire payment process and in comparison to cash transactions are much simpler and faster. But on the other hand the key question for merchant is if it is worth to have such device, which accept these new payment means or not to have the terminal at all. What is the amount of cash flow, which delimits the cash holdings to be still profitable? This paper tries to give answers to such question by presenting general profitability model, which will address defining the cash threshold amount. The aim is to show that cash holdings could be profitable up to certain amount, but after the threshold is met, cashless payment methods are fairly superior despite their additional costs.

  12. Education and Lifetime Earnings in the United States.

    Science.gov (United States)

    Tamborini, Christopher R; Kim, ChangHwan; Sakamoto, Arthur

    2015-08-01

    Differences in lifetime earnings by educational attainment have been of great research and policy interest. Although a large literature examines earnings differences by educational attainment, research on lifetime earnings--which refers to total accumulated earnings from entry into the labor market until retirement--remains limited because of the paucity of adequate data. Using data that match respondents in the Survey of Income and Program Participation to their longitudinal tax earnings as recorded by the Social Security Administration, we estimate the 50-year work career effects of education on lifetime earnings for men and women. By overcoming the purely synthetic cohort approach, our results provide a more realistic appraisal of actual patterns of lifetime earnings. Detailed estimates are provided for gross lifetime earnings by education; net lifetime earnings after controlling for covariates associated with the probability of obtaining a bachelor's degree; and the net present 50-year lifetime value of education at age 20. In addition, we provide estimates that include individuals with zero earnings and disability. We also assess the adequacy of the purely synthetic cohort approach, which uses age differences in earnings observed in cross-sectional surveys to approximate lifetime earnings. Overall, our results confirm the persistent positive effects of higher education on earnings over different stages of the work career and over a lifetime, but also reveal notably smaller net effects on lifetime earnings compared with previously reported estimates. We discuss the implications of these and other findings.

  13. 19 CFR 351.523 - Upstream subsidies.

    Science.gov (United States)

    2010-04-01

    ... 19 Customs Duties 3 2010-04-01 2010-04-01 false Upstream subsidies. 351.523 Section 351.523 Customs Duties INTERNATIONAL TRADE ADMINISTRATION, DEPARTMENT OF COMMERCE ANTIDUMPING AND COUNTERVAILING... all of the following elements exist: (i) A countervailable subsidy, other than an export subsidy, is...

  14. Laser scan with upstream crystal #1

    CERN Document Server

    Gyr, Marcel

    1996-01-01

    A laser scan was performed with the new U-shaped crystal G5, which has a known miscut of +1 mrad and is installed at the upstream position #1 in the TEC. The aim was to cross-check the angular sensitivity of the stepping motor of the goniometer, which theoretically should be 1.98 µrad/step.

  15. Inventories and upstream gasoline price dynamics

    NARCIS (Netherlands)

    Kuper, Gerard H.

    This paper sheds new light on the asymmetric dynamics in upstream U.S. gasoline prices. The model is based on Pindyck's inventory model of commodity price dynamics. We show that asymmetry in gasoline price dynamics is caused by changes in the net marginal convenience yield: higher costs of marketing

  16. Ion distributions upstream of an interplanetary shock

    Science.gov (United States)

    Kajdic, Primoz; Hietala, Heli; Blanco-Cano, Xochitl

    2017-04-01

    It is well known that supercritical collisionless shocks in the interplanetary (IP) space reflect part of the incoming particles (ions, electrons) in order to dissipate the kinetic energy of the upstream solar wind flow. When the conditions are right the reflected particles can escape far upstream from the shock. Their interaction with incoming ions and electrons results in the formation of the foreshock region which is populated by ultra-low frequency magnetic field fluctuations and different populations of reflected ions. Our knowledge on the latter comes mostly from observations of our planet's foreshock. However, the bow shock of the Earth typically has high Mach numbers, and the relatively small global curvature radius of the shock's shape affects the ion distribution characteristics. Interplanetary (IP) shocks, on the other hand, typically have lower Mach numbers and larger global curvature radii. In the past the majority of observed ion distributions detected upstream of IP shocks were diffuse. In only a couple of works the field-aligned ion beams were reported and even then the details of the ion distributions functions could not be determined. Here we present the first study showing clear observations of different types of ion distributions upstream of an interplanetary shock. The shock was observed on 8 October 2013 by several spacecraft, namely Wind, ACE, and the two ARTEMIS spacecraft P1 and P2. By using combined data from the Electrostatic Analyzer and the Solid State Telescope instruments onboard both ARTEMIS spacecraft we observed different types of ion distributions upstream of the shock: The distributions changed from field-aligned ion beams that were detected farthest from the shock, to intermediate and then to almost diffuse ion distributions near the shock transition. Furthermore, the observations at P1 and P2 locations also show spatial variability of the foreshock and the IP shock. The angle between the local shock normal and the upstream

  17. Stock Prices, Earnings and Expected Dividends

    OpenAIRE

    Shiller, Robert; Campbell, John

    1988-01-01

    This paper presents estimates indicating that, for aggregate U.S. stock market data 1871-1986, a long historical average of real earnings is a good predictor of the present value of future real dividends. This is true even when the information contained in stock prices is taken into account. We estimate that for each year the optimal forecast of the present value of future real dividends is roughly a weighted average of moving average earnings and current real price, with between 2/3 and 3/4 ...

  18. Family migration and relative earnings potentials

    DEFF Research Database (Denmark)

    Foged, Mette

    2016-01-01

    A unitarian model of family migration in which families may discount wives’ private gains is used to derive testable predictions regarding the type of couples that select into migrating. The empirical tests show that gender neutral family migration cannot be rejected against the alternative...... of husband centered migration. Couples are more likely to migrate if household earnings potential is disproportionally due to one partner, and families react equally strongly to a male and a female relative advantage in educational earnings potential. These results are driven by households with a strong...

  19. Education and Lifetime Earnings in the United States

    Science.gov (United States)

    Tamborini, Christopher R.; Kim, ChangHwan; Sakamoto, Arthur

    2015-01-01

    Differences in lifetime earnings by educational attainment have been of great research and policy interest. Although a large literature examines earnings differences by educational attainment, research on lifetime earnings—which refers to total accumulated earnings from entry into the labor market until retirement—remains limited because of the paucity of adequate data. Using data that match respondents in the Survey of Income and Program Participation to their longitudinal tax earnings as recorded by the Social Security Administration, we estimate the 50-year work career effects of education on lifetime earnings for men and women. By overcoming the purely synthetic cohort approach, our results provide a more realistic appraisal of actual patterns of lifetime earnings. Detailed estimates are provided for gross lifetime earnings by education; net lifetime earnings after controlling for covariates associated with the probability of obtaining a bachelor’s degree; and the net present 50-year lifetime value of education at age 20. In addition, we provide estimates that include individuals with zero earnings and disability. We also assess the adequacy of the purely synthetic cohort approach, which uses age differences in earnings observed in cross-sectional surveys to approximate lifetime earnings. Overall, our results confirm the persistent positive effects of higher education on earnings over different stages of the work career and over a lifetime, but also reveal notably smaller net effects on lifetime earnings compared with previously reported estimates. We discuss the implications of these and other findings. PMID:26100983

  20. E-Learning Strategy for Earning Learners

    Science.gov (United States)

    Singaravelu, G.

    2011-01-01

    The study enlightens the effectiveness of e-learning strategy in learning English among the in-service teachers who are studying B.Ed in School of Distance Education, Bharathiar University, Coimbatore. E-learning strategy is a life long learning strategy for earning in-service teachers. It is a strategy of remaining in employment, which can be…

  1. Japan's Teachers Earn Tenure on Day One

    Science.gov (United States)

    Ahn, Ruth; Asanuma, Shigeru; Mori, Hisayoshi

    2016-01-01

    Teachers in Japan earn tenure on their first day of employment--not after two years of experience based on evaluations of teaching performance or student test scores. This is almost too good to be true. If tenure is so easy to attain, how do the Japanese make sure their teachers, especially novice teachers hired with little teaching experience,…

  2. Education, Variation in Earnings, and Nonmonetary Compensation.

    Science.gov (United States)

    Mathios, Alan D.

    1989-01-01

    The National Academy of Sciences-National Research Council Twin Offspring data support the proposition that for those with low levels of education, earnings may be an adequate proxy for compensation, whereas the opposite holds for highly educated people. (Author/JOW)

  3. The College Double Major and Subsequent Earnings

    Science.gov (United States)

    Hemelt, Steven W.

    2010-01-01

    In this study I examine the relationship between graduating from college with two majors rather than one and labor market earnings using the 2003 National Survey of College Graduates. Because institutions are heterogeneous both in terms of overall quality and in the availability of opportunities to double major, I attempt to control for such…

  4. Economic implications on management earnings of substituting ...

    African Journals Online (AJOL)

    Economic implications on management earnings of substituting traditional for improved cassava varieties in mix cropping farms in Cross River State. ... A sample of one thousand heads of farms family household across the State were interviewed and their records obtained were analysed following the residual claimant ...

  5. Profitability analysis of KINGLONG nearly 5 years

    Science.gov (United States)

    Zhang, Mei; Wen, Jinghua

    2017-08-01

    Profitability analysis for measuring business performance and forecast its prospects play an important role. In this paper, the research instance King Long Motor in understanding the basic theory on the basis of financial management, to take a combination of theory and data analysis methods, combined with a measure of profitability related indicators of King Long Motor company’s profitability do a specific analysis to identify factors constraining the profitability of Kinglong company exists and the motivation to improve profitability, which made recommendations to improve the profitability of Kinglong car company to promote the company’s future can be better and faster development.)

  6. Upstream petroleum industry financial conditions and distribution of industry generated revenue

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1996-11-01

    A review of profitability of Canada`s upstream petroleum industry and of the direct fiscal burden (all payments to governments) on the industry was presented based on a study conducted during June-September 1996. Information was collected from 200 companies that represent over 90 per cent of the total oil and gas production revenue and most of the refining and fuel sales. Part 2 of the review examined taxes and other payments to government by 58 companies. It was concluded that the Canadian oil and gas industry is a major contributor of taxes to all three levels of government. While the industry has made concerted efforts to reduce its controllable costs and increase its profitability, it is claimed that Canadian petroleum industry profit margins are extremely low. A plea was made to all levels of governments to consider the highly competitive nature of the industry, the constantly changing market forces, shifts in world politics, regulatory trends, currency values and technology that affect the industry, and the high risks inherent in exploration and development prior to establishing ever-increasing claims on the industry`s dwindling profits. 22 tabs., 17 figs.

  7. Investors’ response on the deviation between quarterly and annual earnings

    Directory of Open Access Journals (Sweden)

    Saidin Saidatunur Fauzi

    2017-01-01

    Full Text Available Despite the benefits of timely information, concerns have been raised on the reliability of the quarterly accounts. The occurrence of deviation between audited annual accounts and cumulative quarterly accounts indicates the misstatements in the latter. This study examines investors’ response towards the occurrence of the deviation. Data is based on 792 listed companies of Bursa Malaysia in 2012. The results of the OLS regression show that the companies without earnings deviation have significantly higher earnings response coefficient than companies experiencing earnings deviation. It is also found that understated quarterly earnings companies have higher earnings response coefficient than overstated companies. Results imply that investors place higher reliability on the quarterly accounts produced by companies without earnings deviation. Higher reliability is placed on the understated quarterly earnings companies as compared to overstated companies. Findings suggest that investors do value the occurrence and types of earnings deviation. Therefore, steps should be taken to overcome the occurrence of deviation.

  8. Earnings Management, Audit Quality and Legal Environment: An International Comparison

    National Research Council Canada - National Science Library

    Mehmet Unsal Memis; Emin Huseyin Cetenak

    2012-01-01

      This paper investigates the relationship between earnings management-audit quality and earnings management-legal system quality by using 1507 firms' observations from listed companies in private...

  9. Management's performance justification and failure to meet earnings thresholds

    NARCIS (Netherlands)

    Zhang, S.; Aerts, Walter

    2015-01-01

    We examine the intensity of management's performance justification as a remedial narrative impression management device, by investigating the association between behavioural earnings thresholds and causal language intensity on earnings-related outcomes in annual management commentary reports. Not

  10. Degrees to Dollars: Earnings of College Graduates in 1998.

    Science.gov (United States)

    Crosby, Olivia

    2001-01-01

    Uses Current Population Survey data to compares earnings by education level from high school diploma to doctoral degree in selected occupations. Finds that college graduates earned at least $15,000 more than high school graduates in 1998. (JOW)

  11. Management’s causal reasoning on performance and earnings management

    NARCIS (Netherlands)

    Aerts, W.A.A.; Zhang, S.

    2014-01-01

    We investigate the association between the intensity of causal reasoning on performance in a firm’s annual management commentary and its earnings management propensity. Anticipated earnings management concerns are argued to constitute a significant accountability predicament, bringing management to

  12. How Do Families Smooth Household Heads` Earnings Volatility?

    National Research Council Canada - National Science Library

    Ki Seong Park; ; Dong Gyun Shin

    2010-01-01

    ...` earnings is almost entirely smoothed. The most effective measure of smoothing heads` earnings volatility is income from self-employment, with the next most effective being labor income of other family members...

  13. Management’s earnings justification and earnings management under different institutional regimes

    NARCIS (Netherlands)

    Aerts, W.A.A.; Cheng, P.; Tarca, A.

    2013-01-01

    Manuscript Type Empirical Research Question/Issue This study examines whether accruals earnings management is associated with managers' explanations of performance provided in narrative reports accompanying the financial statements in an international setting that covers voluntary and mandatory

  14. Immigrant-Native Differences in Earnings Mobility Processes

    DEFF Research Database (Denmark)

    Ahmad, Nisar; Esmaeilzadeh, Rayhaneh; Hansen, Jørgen

    2014-01-01

    This study compares the earnings mobility between immigrants and natives within and between Denmark and Canada. Both countries have different labour market conditions and immigration history which leads to an interesting comparison of earning mobility processes. The paper employs a dynamic...... that immigrants-native differences in earnings mobility, structural state dependence, and segmentation of earnings distribution are relatively more prominent in Denmark compared to Canada...

  15. Immigrant-Native Differences in Earnings Mobility Processes

    DEFF Research Database (Denmark)

    Ahmad, Nisar; Esmaeilzadeh, •Rayhaneh

    2009-01-01

    This study compares the earnings mobility between immigrants and natives within and between Denmark and Canada. Both countries have different labour market conditions and immigration history which leads to an interesting comparison of earning mobility processes. The paper employs a dynamic...... that immigrants-native differences in earnings mobility, structural state dependence, and segmentation of earnings distribution are relatively more prominent in Denmark compared to Canada....

  16. PENGARUH EARNINGS SURPRISE TERHADAP CONTRARIUM RETURN SHARE PRICES

    OpenAIRE

    Aristianto, Astri Indranila

    2013-01-01

    Earning surprise is difference between earning forecast and earning announcement value. Earning surprise will influence stock price of a company, so it needs a strategy to make expected investment. This research utilized contrarian strategy that was opposite strategy to habit by doing stock purchase when market was experiencing decrease and other investors did selling and sold their share when market was experiencing increase, while other investors made stock purchasing (Manurung, 2009). The ...

  17. Earnings from commercial motorcycle operations in Ilorin, Nigeria: A ...

    African Journals Online (AJOL)

    ... earnings in commercial motorcycle transport. Formal education was found not to be a significant variable, which further confirms the fact that in some activities in the informal sector, formal education does not affect earnings. The core determinant i.e. patronage index explained over 75 percent of the variations in earnings.

  18. 26 CFR 1.535-3 - Accumulated earnings credit.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 7 2010-04-01 2010-04-01 true Accumulated earnings credit. 1.535-3 Section 1... Accumulated earnings credit. (a) In general. As provided in section 535(a) and § 1.535-1, the accumulated earnings credit, provided by section 535(c), reduces taxable income in computing accumulated taxable income...

  19. 48 CFR 252.234-7002 - Earned Value Management System.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Earned Value Management... of Provisions And Clauses 252.234-7002 Earned Value Management System. As prescribed in 234.203(2), use the following clause: Earned Value Management System (APR 2008) (a) In the performance of this...

  20. Do managers manipulate earnings prior to management buyouts?

    NARCIS (Netherlands)

    Mao, Yaping; Renneboog, Luc

    2015-01-01

    To address the question as to whether managers intending to purchase their company by means of a levered buyout transaction manipulate earnings in order to buy their firm on the cheap, we study the different types of earnings management prior to the transaction: accrual management, real earnings

  1. The Returns to School Quality: College Choice and Earnings.

    Science.gov (United States)

    Strayer, Wayne

    2002-01-01

    Examines the effects of high school quality on earnings, suggesting that school quality affects the student's choice of college, and college choice then affects the individual's post-school earnings, and that additional skills accumulated via a higher quality school directly influence wages. High school quality influences earnings by affecting…

  2. How Sensitive is Intergenerational Earnings Mobility to Different Measures?

    DEFF Research Database (Denmark)

    Hussain, Mohammad Azhar; D. Munk, Martin; Bonke, Jens

    2008-01-01

    comparison of intergenerational earnings mobility. Thus, intergenerational earnings mobility is found quite lower when applying hourly wage rates rather than annual earnings inclusive or exclusive of public transfers. Moreover, when applying the same specifications for Denmark as used for other countries, we...

  3. Deferred Tax Assets and Deferred Tax Expense Against Tax Planning Profit Management

    Directory of Open Access Journals (Sweden)

    Warsono

    2017-09-01

    Full Text Available The purpose of this study is to examine the probability of earnings management performed by Property and Real Estate companies listed in Indonesia Stock Exchange (BEI in the period 2011-2015. How to do the management to influence the accounting numbers can be either profit management through deferred tax assets, deferred tax expense and tax planning in the financial statements. This paper examines the effect of deferred tax assets deferred tax burden, and tax planning to earnings management conducted by the company. Data of the research is to use secondary data from company financial statements that were downloaded from the official website of Indonesia Stock Exchange. Using sampling technique is performed by purposive sampling. The study population is the Property and Real Estate companies listed in Indonesia Stock Exchange in the period 2011-2015. The study take sample as many as 34 companies Property and Real Estate in the Stock Exchange in 2011-2015. Hypothesis testing uses multiple regressions with SPSS software version 22. The result shows that the Deferred Tax Assets positive and significant effect on earnings management; while deferred tax expense and tax planning significant negative effect on earnings management.

  4. An ethical justification of profit maximization

    DEFF Research Database (Denmark)

    Koch, Carsten Allan

    2010-01-01

    behaviour. It is argued that some form of consequential ethics must be applied, and that both profit seeking and profit maximization can be defended from a rule-consequential point of view. It is noted, however, that the result does not apply unconditionally, but requires that certain form of profit (and...

  5. Overcoming the Uncertainty in the Du-Pont Graph of Profitability

    Directory of Open Access Journals (Sweden)

    Jan Hron

    2015-01-01

    Full Text Available Financial analysis of a company requires a wealth of information. There is so much information available and so much of the analysis can be computerized, that the task of the analyst is to select the appropriate tools, gather the pertinent information, and interpret the information. Analysis is becoming more important following the recent scandals as investors and financial managers are learning to become more sceptical of accounting information and look more closely at trends in data, comparisons with other firms, the relation between management compensation and earnings, and footnote disclosures. One of the best tools for predicting profit from financial analysis is the use of Du-Pont graph of profitability. It sees a connection between profit and turnover of operating assets. Each company has, however, individual curve of this dependence, therefore, the determination of turnover for the planned profit vague matter (values create the array of values. The aim of this paper is to propose a method to resolve uncertainty in planning for asset turnover target profit. Will be used polynomial interpolation theory and posterior information.

  6. Earnings Management and Corporate Social Responsibility

    Directory of Open Access Journals (Sweden)

    Benjamin Uyagu

    2017-09-01

    Full Text Available This study lies at the heart of the issue of reliability of financial statements. Reliability is the accountant’s terminology for integrity of financial statements. This study focused on the impact of Corporate Social Responsibility on earnings management in the Nigerian manufacturing sectors. The study is motivated by the paucity of research on subject matter in manufacturing sub-sector in Nigeria. The study employed the ordinary least square multivariate regression technique. A sample of fifty- two manufacturing firms was used. The result shows that there is a positive relationship between CSR and earnings management. This study recommended that statutory bodies should put a ceiling on the amount to be expended on CSR which must be exceeded by any firm.

  7. Marital status and earnings in developed countries.

    Science.gov (United States)

    Schoeni, R F

    1995-11-01

    "When estimating earnings equations for men in the United States, a dichotomous variable for whether or not the man is currently married is often included as a regressor. The coefficient estimate for this variable is most usually large and significant. However, there is rarely much discussion of the marriage effect. This effect is central to this study, which contributes to the understanding of this statistical association in two ways. First, it shows that the relationship exists in almost all of the fourteen developed countries examined and across several different time periods. Controlling for age, and, when available, education, race/ethnicity, hours worked, and location, marriage differences in annual earnings in favor of currently married males range from 0% to 30%. Second, it finds that there are important differences between those who are separated, divorced, widowed, and never married." excerpt

  8. Earnings Inequality and the Business Cycle

    OpenAIRE

    Gadi Barlevy; Daniel Tsiddon

    2004-01-01

    Economists have long viewed recessions as contributing to increasing inequality. However, this conclusion is largely based on data from a period in which inequality was increasing over time. This paper examines the connection between long-run trends and cyclical variation in earnings inequality. We develop a model in which cyclical and trend inequality are related, and find that in our model, recessions tend to amplify long-run trends, i.e. they involve more rapidly increasing inequality more...

  9. Twitter sentiment around the Earnings Announcement events.

    Science.gov (United States)

    Gabrovšek, Peter; Aleksovski, Darko; Mozetič, Igor; Grčar, Miha

    2017-01-01

    We investigate the relationship between social media, Twitter in particular, and stock market. We provide an in-depth analysis of the Twitter volume and sentiment about the 30 companies in the Dow Jones Industrial Average index, over a period of three years. We focus on Earnings Announcements and show that there is a considerable difference with respect to when the announcements are made: before the market opens or after the market closes. The two different timings of the Earnings Announcements were already investigated in the financial literature, but not yet in the social media. We analyze the differences in terms of the Twitter volumes, cumulative abnormal returns, trade returns, and earnings surprises. We report mixed results. On the one hand, we show that the Twitter sentiment (the collective opinion of the users) on the day of the announcement very well reflects the stock moves on the same day. We demonstrate this by applying the event study methodology, where the polarity of the Earnings Announcements is computed from the Twitter sentiment. Cumulative abnormal returns are high (2-4%) and statistically significant. On the other hand, we find only weak predictive power of the Twitter sentiment one day in advance. It turns out that it is important how to account for the announcements made after the market closes. These after-hours announcements draw high Twitter activity immediately, but volume and price changes in trading are observed only on the next day. On the day before the announcements, the Twitter volume is low, and the sentiment has very weak predictive power. A useful lesson learned is the importance of the proper alignment between the announcements, trading and Twitter data.

  10. Measuring Customer Profitability in Complex Environments

    DEFF Research Database (Denmark)

    Holm, Morten; Kumar, V.; Rohde, Carsten

    2012-01-01

    that the degree of sophistication deployed when implementing customer profitability measurement models is determined by the type of complexity encountered in firms’ customer environments. This gives rise to a contingency framework for customer profitability measurement model selection and five research......Customer profitability measurement is an important element in customer relationship management and a lever for enhanced marketing accountability. Two distinct measurement approaches have emerged in the marketing literature: Customer Lifetime Value (CLV) and Customer Profitability Analysis (CPA...... propositions. Additionally, the framework provides design and implementation guidance for managers seeking to implement customer profitability measurement models for resource allocation purposes....

  11. Firm Life Cycle, Book-Tax Differences and Earnings Persistence

    Directory of Open Access Journals (Sweden)

    Antonio Lopo Martinez

    2016-06-01

    Full Text Available The objective in this study is to show if the life cycle explains the relation between the Book-Tax Differences (BTDs and earnings persistence, as well as to inform on the future gains and their relation with the BTDs. Therefore, univariate tests were applied to verify the differences between the mean BTDS, life cycle stages and regression coefficient for the Earnings Before Income Tax (EBIT. The study focused on Brazilian publicly traded companies between 2009 and 2013. The results indicated that the control of earnings persistence was related with the stages of the life cycle. The information relevance of the life cycle and the Book-Tax Differences for earnings persistence is registered. In conclusion, the firm life cycle should be included in the analysis of the relation between the BTDs and earnings persistence. The evidence registered here is crucial to identify the quality of the earnings and incorporate them into earnings valuation models.

  12. Selection and Specialization in the Evolution of Marriage Earnings Gaps

    Directory of Open Access Journals (Sweden)

    Chinhui Juhn

    2016-08-01

    Full Text Available We examine changes in marriage and earnings patterns across four cohorts born between 1936 and 1975 using data from Survey of Income and Program Participation panels linked to administrative data on earnings. We find that, for both men and women, marriage has become increasingly positively associated with education and earnings potential. We compare ordinary least squares and fixed-effect estimates of the earnings differential associated with marriage. We find that the marriage earnings gap fell for women in fixed-effect estimates, implying that the impact of specialization has diminished over time. We also find that increasingly positive selection into marriage overstates the reduction in the marriage earnings gap. Although marriage is no longer associated with lower earnings among women in our most recent cohort, the motherhood gap remains large. Among men, we find that the marriage premium actually increases for more recent birth cohorts in fixed-effects regressions.

  13. ANALISIS VARIABEL YANG MEMPENGARUHI EARNINGS PER SHARE PADA INDUSTRI FOOD AND BAVERAGES YANG GO PUBLIC DI BURSA EFEK JAKARTA

    Directory of Open Access Journals (Sweden)

    SUTEJO - -

    2012-05-01

    Full Text Available ABSTRAK Ide penelitian ini didasarkan pada kenyataan bahwa para investor bersedia melakukan investasi, kalau obyek investasi tersebut mampu menghasilkan keuntungan yang lebih tinggi dari obyek investasi lainya, sehingga perusahaan yang go public harus menarik bagi calon investor. Earnings per share merupakan salah satu indikator utama yang digunakan investor dalam melihat daya tarik suatu saham. Informasi ini akan bermanfaat bagi pengambilan keputusan di bidang keuangan pada industri food and baverages yang menjual sahamnya di Bursa Efek Jakarta. Tujuan penelitian ini adalah untuk mengidentifikasi pengaruh variabel-variabel return on equity (X1, net sales (X2, current ratio (X3, debt to equity (X4, inventory turnover (X5, total assets turnover (X6, dan net profit margin (X7 terhadap earnings per share, baik secara simultan maupun secara partial. Penelitian ini dilakukan dengan mengambil keseluruhan elemen populasi industri food and baverages yang go public di Bursa Efek Jakarta, mulai tahun 1992 sampai dengan tahun 1996 dengan rincian sebagai berikut: tahun 1992 berjumlah 9 perusahaan, tahun 1993 berjumlah 15 perusahaan, tahun 1994 berjumlah 19 perusahaan, tahun 1995 berjumlah 20 perusahaan dan tahun 1996 berjumlah 20 perusahaan. Analisis yang digunakan dalam penelitian ini adalah analisis regresi berganda, dengan hasil sebagai berikut : Pertama, return on equity (X1, net sales (X2, current ratio (X3, debt to equity (X4, inventory turnover (X5, total assets turnover (X6, dan net profit margin (X7 secara simultan berpengaruh dalam menentukan variabilitas earnings per share. Kedua, diantara berbagai variabel bebas tersebut hanya inventory turnover (X5 yang tidak berpengaruh secara signifikan dalam menentukan variabilitas earnings per share, hal ini tentunya tidak terlepas dari kenyataan pada industri food and baverages di Indonesia, dimana untuk menjamin kelancaran dan kualitas bahan baku yang dibeli, perusahaan harus memberikan bantuan teknis

  14. Understanding the Impact of Human Mobility Patterns on Taxi Drivers’ Profitability Using Clustering Techniques: A Case Study in Wuhan, China

    Directory of Open Access Journals (Sweden)

    Hasan A. H. Naji

    2017-06-01

    Full Text Available Taxi trajectories reflect human mobility over the urban roads’ network. Although taxi drivers cruise the same city streets, there is an observed variation in their daily profit. To reveal the reasons behind this issue, this study introduces a novel approach for investigating and understanding the impact of human mobility patterns (taxi drivers’ behavior on daily drivers’ profit. Firstly, a K-means clustering method is adopted to group taxi drivers into three profitability groups according to their driving duration, driving distance and income. Secondly, the cruising trips and stopping spots for each profitability group are extracted. Thirdly, a comparison among the profitability groups in terms of spatial and temporal patterns on cruising trips and stopping spots is carried out. The comparison applied various methods including the mash map matching method and DBSCAN clustering method. Finally, an overall analysis of the results is discussed in detail. The results show that there is a significant relationship between human mobility patterns and taxi drivers’ profitability. High profitability drivers based on their experience earn more compared to other driver groups, as they know which places are more active to cruise and to stop and at what times. This study provides suggestions and insights for taxi companies and taxi drivers in order to increase their daily income and to enhance the efficiency of the taxi industry.

  15. Evaluating Earnings Management in Financial Institutions

    Directory of Open Access Journals (Sweden)

    Margot S. Geagon

    2013-11-01

    Full Text Available Most companies listed on the Standard & Poor’s 500 (S&P 500 index have smoothed reported earnings since the 1990s inspiring questions from regulators about the accuracy of financial statements. In 2002, the Sarbanes-Oxley Act (SOX was issued to eradicate earnings management activities and improve transparency in financial reporting. Although many studies have been conducted to evaluate changes in reporting requirements, much less is known about the effectiveness of these regulations on earning smoothing with discretionary accruals (DA. Accordingly, this study was an investigation of DA from 2002 to 2011. In addition, this study included an evaluation of DA before and after the financial crisis of 2008. This study is a quasi-experimental research design where 330 observations from the U.S. financial industry segment were used for the analysis. The Modified Jones model was used to separate DA and repeated measures analyses of variance were used to assess differences in levels before and after the financial crisis of 2008. The findings suggest DA activities are decreasing but represent over 50% of total net accruals (TNA for all years. Improved financial regulation is needed. The study contributes to positive social change by providing regulators and investors with new information about accruals for income conservative firms by segmenting DA within the financial industry segment.

  16. Relationship between auditors’ fees and earnings management

    Directory of Open Access Journals (Sweden)

    Antonio Lopo Martinez

    2017-03-01

    Full Text Available This study investigates the relationship between audit fees and earnings management in the Brazilian market. In response to the research question, we used a sample of 300 firms listed on the BM&FBovespa for which it was possible to identify the amount paid to the auditors, using data gathered from the Economatica® database and the website of the Brazilian Securities Commission (Comissão Brasileira de Valores Mobiliários [CVM]. We analyzed the regressions with the aim of supporting or refuting the hypothesis that audit firms that charge less for their service tend to be more relaxed regarding earnings management by their client companies. The results support this hypothesis. The main contribution of this study is the possibility of stating that more aggressive earnings management occurs predominantly among firms that pay less than expected for audit services. This study evidences the perception of risk by audit firms and how this is reflected in the audit fees charged.

  17. Upstream Public Engagement in Nanotechnology : Constraints and Opportunities

    NARCIS (Netherlands)

    Krabbenborg, Lotte; Mulder, Henk A.J.

    Upstream public engagement with new science and technology is considered important but challenging. This article shows how engagement events are embedded in broader institutional and cultural contexts. By studying two different cases of upstream engagement in nanotechnology, we demonstrate how

  18. Biodiesel byproduct bioconversion to rhamnolipids: Upstream aspects

    Directory of Open Access Journals (Sweden)

    Ana Maria Salazar-Bryam

    2017-06-01

    Full Text Available This study focused on two important aspects of the upstream process: the appropriate use of crude glycerol as a low-cost carbon source, and strain selection. The effect of different crude glycerol concentrations on rhamnolipid biosynthesis by two Pseudomonas aeruginosa strains (wild type LBI and mutant LBI 2A1 was studied. Finally, the synthesized rhamnolipids were characterized by mass spectrometry. When both strains were compared, 50 g/L was the most favorable concentration for both, but P. aeruginosa LBI 2A1 showed an increase in rhamnolipid production (2.55 g/L of 192% over wild type (1.3 g/L. The higher rhamnolipid production could be related to a possible mechanism developed after the mutation process at high antibiotic concentrations. Mass spectrometry confirmed the glycolipid nature of the produced biosurfactant, and the homologue composition showed a wide mixture of mono and di-rhamnolipids. These results show that high glycerol concentrations can inhibit microbial metabolism, due to osmotic stress, leading to a better understanding of glycerol metabolism towards its optimization in fermentation media. Since P. aeruginosa LBI 2A1 showed higher conversion yields than P. aeruginosa LBI, the use of a mutant strain associated with a low cost carbon source might improve biosurfactant biosynthesis, therefore yielding an important upstream improvement.

  19. Upstream pipelines : inspection, corrosion and integrity management

    Energy Technology Data Exchange (ETDEWEB)

    Paez, J.; Stephenson, M. [Talisman Energy Inc., Calgary, AB (Canada)] (comps.)

    2009-07-01

    Accurate inspection techniques are needed to ensure the integrity of pipelines. This working group discussed methods of reducing pipeline failures for a variety of pipes. A summary of recent pipeline performance statistics was presented, as well as details of third party damage and fiberglass pipe failures. A batch inhibitor joint industry project was described. The session demonstrated that integrity program need to be developed at the field-level as well as at the upper management level. Fiberglass pipeline failures are significant problem for pipeline operators. Corrosion monitoring, pigging and specific budgets are needed in order to ensure the successful management of pipeline integrity. New software developed to predict pipeline corrosion rates was discussed, and methods of determining mole fractions and flow regimes were presented. The sessions included updates from regulators and standards agencies as well as discussions of best practices, regulations, codes and standards related to pipeline integrity. The working group was divided into 4 sessions: (1) updates since 2007 with input from the Canadian Association of Petroleum Producers (CAPP) and the Upstream Pipeline Integrity Management Association (UPIMA); (2) integrity of non-metallic pipelines; (3) upstream pipeline integrity issues; and (4) hot topics. tabs., figs.

  20. Whistler mode waves upstream of Saturn

    Science.gov (United States)

    Sulaiman, A. H.; Gurnett, D. A.; Halekas, J. S.; Yates, J. N.; Kurth, W. S.; Dougherty, M. K.

    2017-01-01

    Whistler mode waves are generated within and can propagate upstream of collisionless shocks. They are known to play a role in electron thermodynamics/acceleration and, under certain conditions, are markedly observed as wave trains preceding the shock ramp. In this paper, we take advantage of Cassini's presence at 10 AU to explore the importance of whistler mode waves in a parameter regime typically characterized by higher Mach number (median of 14) shocks, as well as a significantly different interplanetary magnetic field structure, compared to near Earth. We identify electromagnetic precursors preceding a small subset of bow shock crossings with properties which are consistent with whistler mode waves. We find these monochromatic, low-frequency, and circularly polarized waves to have a typical frequency range of 0.2-0.4 Hz in the spacecraft frame. This is due to the lower ion and electron cyclotron frequencies near Saturn, between which whistler waves can develop. The waves are also observed as predominantly right handed in the spacecraft frame, the opposite sense to what is typically observed near Earth. This is attributed to the weaker Doppler shift, owing to the large angle between the solar wind velocity and magnetic field vectors at 10 AU. Our results on the low occurrence of whistler waves upstream of Saturn also underpin the predominantly supercritical bow shock of Saturn.

  1. Upstream and Downstream Influence in STBLI Instability

    Science.gov (United States)

    Martin, Pino; Priebe, Stephan; Helm, Clara

    2016-11-01

    Priebe and Martín (JFM, 2012) show that the low-frequency unsteadiness in shockwave and turbulent boundary layer interactions (STBLI) is governed by an inviscid instability. Priebe, Tu, Martín and Rowley (JFM, 2016) show that the instability is an inviscid centrifugal one, i.e Görtlerlike vortices. Previous works had given differing conclusions as to whether the low-frequency unsteadiness in STBLI is caused by an upstream or downstream mechanism. In this paper, we reconcile these opposite views and show that upstream and downstream correlations co-exist in the context of the nature of Görtler vortices. We find that the instability is similar to that in separated subsonic and laminar flows. Since the turbulence is modulated but passive to the global mode, the turbulent separated flows are amenable to linear global analysis. As such, the characteristic length and time scales, and the receptivity of the global mode might be determined, and low-order models that represent the low-frequency dynamics in STBLI might be developed. The centrifugal instability persists even under hypersonic conditions. This work is funded by the AFOSR Grant Number AF9550-15-1-0284 with Dr. Ivett Leyva.

  2. Hydraulic performance of sluice gate with unloaded upstream rotor ...

    African Journals Online (AJOL)

    Swift speed cameras and Tracker software were used to measure the upstream backwater depth and to estimate the instantaneous variation of the rotor speed. The study shows that adding a rotor upstream of the gate caused the upstream water level to increase such that the averaged normalized afflux increased to 1.72 ...

  3. Pengaruh Return On Equity, Price Earning Ratio, Price To Book Value Dan Inflasi Terhadap Harga Saham PT Bhakti Investama Tbk Jakarta

    Directory of Open Access Journals (Sweden)

    Pariang Siagian

    2011-11-01

    Full Text Available Investment on stocks is a high-risky investment to make investors to possibly gain a lot of profit. On the other hand, those investors might experience some big loss. Data collecting comes from theoretical books and other related references. Secondary data including Return On Equity (ROE, Price Earnings Ratio (PER, Earning Per Share (EPS, Book Value (BV, Price To Book Value (PBV and Stock Prices of PT Bhakti Investama Tbk. This research is intended to find whether Return On Equity (ROE, Price Earnings Ratio (PER, Price To Book Value (PBV and Inflation, have some influences on the Stock Price of PT Bhakti Investama Tbk., both partially and entirely; and how much the influences are.

  4. Upstream from OPERA: extreme attention to detail

    CERN Multimedia

    CERN Bulletin

    2011-01-01

    Two weeks ago, at a seminar held at CERN, the OPERA collaboration revealed their astonishing observation: neutrinos might move faster than light. The finding is currently under scrutiny in the scientific community. While the result downstream at Gran Sasso speaks for itself, upstream at CERN things are no less intriguing, with high-tech GPS systems, novel techniques for accurately measuring the time, and unique ways keeping the initial particle beam stable. Take away one ingredient and the accuracy needed for the final measurement is spoiled.   Underground installations of the CERN Neutrinos to Gran Sasso (CNGS) project. First ingredient: a stable beam CERN produces neutrinos by sending a beam of protons to hit a target. The collisions produce a secondary beam, which mostly consists of pions and kaons that decay in flight within an evacuated tunnel. Their decay products are muons and muon-neutrinos. An absorber stops the pions and kaons that do not decay, while the resulting muons are absorb...

  5. Moving stormwater P management upstream (Invited)

    Science.gov (United States)

    Baker, L. A.; Hobbie, S. E.; Finlay, J. C.; Kalinosky, P.; Janke, B.

    2013-12-01

    Reducing stormwater phosphorus loading using current approaches, which focus on treatment at the end of the pipe, is unlikely to reduce P loads enough to restore nutrient-impaired urban lakes. An indication of this is that of the nearly 150 nutrient impaired lakes in the Twin Cities region, only one has been restored. We hypothesize that substantial reduction of eutrophication will require reductions of P inputs upstream from storm drains. Developing source reduction strategies will required a shift in thinking about system boundaries, moving upstream from the storm drain to the curb, and from the curb to the watershed. Our Prior Lake Street Sweeping Project, a 2-year study of enhanced street sweeping, will be used to illustrate the idea of moving the system boundary to the curb. This study showed that P load recovery from sweeping increases with both sweeping frequency and overhead tree canopy cover. For high canopy streets, coarse organic material (tree leaves; seed pods, etc.) comprised 42% of swept material. We estimate that P inputs from trees may be half of measured storm P yields in 8 urban catchments in St. Paul, MN. Moreover, the cost of removing P during autumn was often 1000/lb P for stormwater ponds. We can also move further upstream, to the watershed boundary. P inputs to urban watersheds that enter lawns include lawn fertilizer, polyphosphates added to water supplies (and hence to lawns via irrigation), and pet food (transformed to pet waste). Minnesota enacted a lawn P fertilizer restriction in 2003, but early reductions in stormwater P loads were modest, probably reflecting reduction in direct wash-off of applied fertilizer. Because urban soils are enriched in P, growing turf has continued to extract available soil P. When turf is mowed, cut grass decomposes, generating P in runoff. As soil P becomes depleted, P concentrations in lawn runoff will gradually decline. Preliminary modeling suggests that substantial reductions in P export from lawns may

  6. THE DETERMINANTS OF PROFITABILITY IN COMPANIES LISTED ON THE BUCHAREST STOCK EXCHANGE

    Directory of Open Access Journals (Sweden)

    SORANA VĂTAVU

    2014-10-01

    Full Text Available This research aims to establish the determinants of financial performance in 126 Romanian companies listed on the Bucharest Stock Exchange, over a period of ten-years (2003-2012. The analysis is based on cross sectional regressions. Return on assets is the performance proxy, while the variables expected to have a significant impact on profitability are debt, asset tangibility, size, liquidity, taxation, risk, inflation and crisis. Regression results indicate that profitable companies operate with limited borrowings. Tangibility, business risk and the level of taxation have a negative impact on return on assets. Although earnings are sustained by significant sales turnover, performance is affected by high levels of liquidity. Periods of unstable economic conditions, reflected by high inflation rates and the current financial crisis, have a strong negative impact on corporate performance.

  7. Is merging and acquisition profitable?; Fusjoner og oppkjoep - er det loennsomt?

    Energy Technology Data Exchange (ETDEWEB)

    Skjeret, Frode; Soergard, Lars

    2002-07-01

    This report deals with mergers and acquisitions in the electricity sector in Norway. The background is the fact that the profitability of these activities proves to be low. In buying, it is typically the selling shareholder who profits from the transaction, while the buying company does not really earn much. This result appears to be a robust result both in different countries, between sectors and independent of methodology. The report provides theoretical justification for merging and buying up and empirical evaluations of the effects of company integration. It is asserted that what can be learned in general from the literature may also occur in the European power sector. Furthermore, the report discusses the challenges faced by the companies if they want to expand through mergers and acquisitions.

  8. ANALISIS VARIABEL YANG MEMPENGARUHI EARNINGS PER SHARE PADA INDUSTRI FOOD AND BAVERAGES YANG GO PUBLIC DI BURSA EFEK JAKARTA

    Directory of Open Access Journals (Sweden)

    Sutejo - -

    2012-05-01

    Full Text Available ABSTRAK Tujuan penelitian ini adalah untuk mengidentifikasi pengaruh variabel-variabel return on equity (X1, net sales (X2, current ratio (X3, debt to equity (X4, inventory turnover (X5, total assets turnover (X6, dan net profit margin (X7 terhadap earnings per share, baik secara simultan maupun secara partial. Penelitian ini dilakukan dengan mengambil keseluruhan elemen populasi industri food and baverages yang go public di Bursa Efek Jakarta, mulai tahun 1992 sampai dengan tahun 1996 dengan rincian sebagai berikut: tahun 1992 berjumlah 9 perusahaan, tahun 1993 berjumlah 15 perusahaan, tahun 1994 berjumlah 19 perusahaan, tahun 1995 berjumlah 20 perusahaan dan tahun 1996 berjumlah 20 perusahaan. Hasil penelitian menunjukkan bahwa return on equity (X1, net sales (X2, current ratio (X3, debt to equity (X4, inventory turnover (X5, total assets turnover (X6, dan net profit margin (X7 secara simultan berpengaruh dalam menentukan variabilitas earnings per share. Variabel inventory turnover (X5 tidak mempengaruhi variabilitas earnings per share, hal ini tentunya tidak terlepas dari kenyataan pada industri food and baverages di Indonesia, dimana untuk menjamin kelancaran dan kualitas bahan baku yang dibeli, perusahaan harus memberikan bantuan teknis maupun modal kerja kepada para supplier lokal, sehingga perusahaan harus menyediakan modal atau kredit lunak dalam rangka kerja sama yang saling menguntungkan. Di sisi lain bahan baku industri food and baverages dalam prakteknya dipengaruhi oleh keberhasilan dan kegagalan panen para supplier, sehingga dari berbagai kendala yang dihadapi industri food and baverages tersebut sebagai akibatnya kadang-kadang bahan baku melimpah dan tidak jarang mengalami kekurangan atau menghadapi kelangkaan. Oleh karena itu tingginya tingkat perputaran persediaan tidak dapat menunjukan efisiensi perusahaan. Diantara variabel bebas yang berpengaruh signifikan tersebut net sales (X2, dan current ratio (X3 mempunyai pengaruh

  9. Impact of robotic operative efficiency on profitability.

    Science.gov (United States)

    Geller, Elizabeth J; Matthews, Catherine A

    2013-07-01

    We sought to determine the impact of robotic operative efficiency on profitability and assess the impact of secondary variables. Financial data were collected for all robotic cases performed for fiscal years 2010 (FY10) and 2011 (FY11) at University of North Carolina at Chapel Hill, and included 9 surgical subspecialties. Profitability was defined as a positive operating income. From July 2009 through June 2011, 1295 robotic cases were performed. Robotic surgery was profitable in both fiscal years, with an operating income of $386,735 in FY10 and $822,996 in FY11. In FY10, urogynecology and pediatric surgery were the only nonprofitable subspecialties. In FY11, all subspecialties were profitable. Profitability was associated with case time, payor mix, and procedure type (all P profitability regardless of surgical specialty. Copyright © 2013 Mosby, Inc. All rights reserved.

  10. Analyzing profit efficiency of banks in India with undesirable output – Nerlovian profit indicator approach

    Directory of Open Access Journals (Sweden)

    A.R. Jayaraman

    2014-12-01

    Full Text Available The objective of this paper is to provide a holistic approach to measure the profit efficiency of banks, factoring desirable/undesirable outputs, using Nerlovian profit indicator approach. The profit inefficiency of banks has been decomposed into technical and allocation inefficiency using directional distance function. Results reveal that profit inefficiency of banks is primarily due to allocative inefficiency and the impact of technical inefficiency on profit inefficiency is minimal compared to allocative inefficiency, which indicates that banks need to focus on optimal utilization of input–output mix to enhance profit efficiency.

  11. Profitable tail-end production

    Energy Technology Data Exchange (ETDEWEB)

    Pinchbeck, R.H.

    1997-12-31

    This presentation discusses the origins of the present challenge faced in making mature oil fields profitable in the North Sea. It briefly examines the origins of these challenges, which are rooted in the industrial psychology of the North Sea. It develops a methodological formula for the successful re-engineering of inefficiently-run assets, focusing in particular on the personnel management aspects. It identifies some key areas to seek sustainable cost reductions and recognises the importance of renewing the context for investment in tail-end fields. Finally, it speculates about the way in which the learnings developed in the experiences of the last few years will influence the future of the North Sea. 2 refs.

  12. Profitable use of bio fuels

    Energy Technology Data Exchange (ETDEWEB)

    Ekelund, Mats [Strateco Develoment AB, Vega (Sweden)], e-mail: mats.e@strateco.se

    2012-11-01

    Traditionally, the transportation industry has been opposed to any new legislation and when rather stringent emission legislation occurred, they objected just as they did when new fuels came on the agenda. On very short notice, Taxi Stockholm lost 20 % of their business when the County decided to award all public transportation contracts to a competitor. It was time to change plans instead of complaining and to take advantage of new opportunities - 'The first mover advantage'. Making the use of bio fuels into a profitable business takes a change of a standard 'business model' to do and there is still much room others to do the same. With a new CEO, an active marketing department and active individuals among the Board of Directors, Taxi Stockholm massaged a strategy where more business and private customers would be attracted by justifying the green leaf on every cab. All initiatives were publically announced and Taxi Stockholm broke new ice by putting a ban on spike tires - a decision which the vice Mayor made part of her ruling for the whole city. The Ban on gasoline and diesel cars were announced and such a statement attracted business from a loyalty point of view and from companies that had a 'Green Transport Policy' to live up to. Taxi Stockholm has seen growth and profitability grow since and credit the green policy on bio fuels such as bio gas and ethanol for most of it. Preem, Stockholm Transit, Volvo and other market driven operators have all seen markets grow from green initiatives.

  13. The Persistence of Shocks to Profitability

    OpenAIRE

    Anita M McGahan; Porter, Michael E.

    1999-01-01

    In this study, we use data for 1981 through 1994 on a large sample of U.S. companies to examine the persistence of incremental industry, corporate-parent, and business-specific effects on profitability. Our results indicate that the incremental effects of industry on profitability persist longer than the incremental effects of the corporate parent and of the specific business. Changes in industry structure have a more persistent impact on profitability than do changes in firm structure. © 199...

  14. The Choice of For-Profit College

    OpenAIRE

    Chung, Anna

    2008-01-01

    In this paper I investigate whether students self-select into the US for-profit colleges or whether the choice of for-profit sector is accidental or due to the reasons external to the students (geographic exposure to for-profit providers, tuition pricing, or random circumstances). The main student-level data samples come from the National Education Longitudinal Study of 1988 (NELS:88) and the associated Postsecondary Education Transcript Study (PETS:2000). I estimate a multinomial logit of co...

  15. Farm profitability and Labour Use Efficiency

    OpenAIRE

    Amarender A, Reddy

    2013-01-01

    Appropriate choice of cropping systems to local agro-ecology increases profitability and employment. The increased labour shortage and reduced profitability are growing concerns to the farmers. Keeping this, the paper written with the following objectives: i) To assess the profitability among different cropping systems in the semi-arid tropics; ii) To assess the labour use pattern among different cropping systems and farm size; iii) To determine the resource use efficiency of the different cr...

  16. INEQUALITY AND DETERMINANTS OF EARNINGS IN MALAYSIA, 1984-97

    OpenAIRE

    Branko Milanovic

    2005-01-01

    Using the large nationally-representative Malaysian Household Income Surveys from 1984, 1989 and 1997, the paper studies earnings inequality and determinants of earnings. During the period 1984-97, Malaysia’s real per capita GDP increased by about 70 percent, participation rates for both men and women went up among all age groups and the average number of years of schooling increased by 1.2 years. Inequality of earnings, measured by the Gini coefficient, remained stable, but other measures of...

  17. EARNINGS MANAGEMENT AND THE QUALITY OF THE FINANCIAL REPORTING

    OpenAIRE

    Ingrid Shuli

    2011-01-01

    During the last time in the development of the financial reporting and frauds there have emerged several problems related to the quality of several indicators on the financial statements and especially the quality of the earnings indicator. According to the literature on the financial reporting it results that companies have the possibility to smooth earnings or manage earnings as a tool to avoid reporting a loss. While the economic entities are using the national and international accounting...

  18. The Determinants of Earning Differentials in Ankara and Istanbul

    OpenAIRE

    I.Semih Akçomak; Zehra Kasnakoglu

    2001-01-01

    In this study, an attempt is made to compare and contrast the determinants of earnings differentials in Ankara and Istanbul. The determinants of earnings differentials are first examined with semi-logarithmic single equation models based on the basic human capital approach. Secondly, extended models are formed in which all the variables are expressed as dummy variables. In general, the average per hour earnings in Istanbul, is higher than in Ankara. It is found that age, gender, education and...

  19. Marriage, Divorce and the Work and Earning Careers of Spouses

    OpenAIRE

    Lee Lillard; Linda Waite

    2000-01-01

    Social Security benefits depend on the employment and earnings history of the covered worker, but, especially for women, they depend on one’s marital history and the employment and earnings history of one’s spouse. This paper examines the interrelationship between marriage, divorce, employment and earnings of men and women. Since getting married (or getting divorced) tends to affect women’s employment choices differently than men’s, we consider the sexes separately. We estimate: (1) the impac...

  20. Earnings progression, human capital and incentives: Theory and evidence

    OpenAIRE

    Frederiksen, Anders

    2010-01-01

    The career prospects of newly recruited employees differ substantially within an organization. The stars experience a considerable growth in earnings; others can hardly maintain their entry salaries. This article sheds light on the mechanisms generating the observed heterogeneity in earnings progression by investigating the effects of on-the-job human capital acquisition, explicit short-run incentives and career concern incentives on earnings progression. The model leads to predictions about ...

  1. Explaining earnings persistence: a threshold autoregressive panel unit root approach

    OpenAIRE

    Galimberti, Jaqueson Kingeski; Cupertino, César Medeiros

    2009-01-01

    This paper proposes a reassessment to the hypothesis that the persistence of current earnings performance is decreasing in the magnitude of the accrual component of earnings and increasing in the magnitude of the cash flow component of earnings. For this purpose, a threshold autoregressive panel unit root approach is proposed using a Fisher-type. This approach allowed us to distinguish between unconditioned and conditioned measures of persistence, making it possible to infer whether the earni...

  2. The Impact of Changing Earnings Volatility on Retirement Wealth

    OpenAIRE

    Austin Nichols; Melissa M. Favreault

    2008-01-01

    Over the last several decades, the volatility of family income has increased markedly, and own earnings volatility has remained relatively flat. Volatility may affect retirement wealth, depending on whether volatility affects accrued pension contributions or withdrawals or earnings credited toward future Social Security benefits. This project assesses the effect of the volatility of individual and family earnings on asset accumulation and projected retirement wealth using survey data matched ...

  3. Emissions trading and profit-neutral grandfathering

    Energy Technology Data Exchange (ETDEWEB)

    Hepburn, Cameron; Ritz, Robert; Quah, John (Oxford Univ., Smith School of Enterprise and the Environment, Oxford (United Kingdom))

    2008-07-01

    This paper examines the amount of grandfathering needed for an emissions trading scheme (ETS) to have a neutral impact on firm profits. We provide a simple formula to calculate profit-neutral grandfathering in an asymmetric Cournot model with a general demand function. Using this formula, we obtain estimates of profit-neutral grandfathering for the electricity, cement, newsprint and steel industries. Under the current EU ETS, firms obtain close to full grandfathering. We find no evidence that any industry as a whole could be worse off with full grandfathering. We also show that the common presumption that a higher rate of cost pass-through lowers profit-neutral grandfathering is unreliable

  4. Predictors of High Profit and High Deficit Outliers under SwissDRG of a Tertiary Care Center.

    Directory of Open Access Journals (Sweden)

    Tarun Mehra

    Full Text Available Case weights of Diagnosis Related Groups (DRGs are determined by the average cost of cases from a previous billing period. However, a significant amount of cases are largely over- or underfunded. We therefore decided to analyze earning outliers of our hospital as to search for predictors enabling a better grouping under SwissDRG.28,893 inpatient cases without additional private insurance discharged from our hospital in 2012 were included in our analysis. Outliers were defined by the interquartile range method. Predictors for deficit and profit outliers were determined with logistic regressions. Predictors were shortlisted with the LASSO regularized logistic regression method and compared to results of Random forest analysis. 10 of these parameters were selected for quantile regression analysis as to quantify their impact on earnings.Psychiatric diagnosis and admission as an emergency case were significant predictors for higher deficit with negative regression coefficients for all analyzed quantiles (p<0.001. Admission from an external health care provider was a significant predictor for a higher deficit in all but the 90% quantile (p<0.001 for Q10, Q20, Q50, Q80 and p = 0.0017 for Q90. Burns predicted higher earnings for cases which were favorably remunerated (p<0.001 for the 90% quantile. Osteoporosis predicted a higher deficit in the most underfunded cases, but did not predict differences in earnings for balanced or profitable cases (Q10 and Q20: p<0.00, Q50: p = 0.10, Q80: p = 0.88 and Q90: p = 0.52. ICU stay, mechanical and patient clinical complexity level score (PCCL predicted higher losses at the 10% quantile but also higher profits at the 90% quantile (p<0.001.We suggest considering psychiatric diagnosis, admission as an emergency case and admission from an external health care provider as DRG split criteria as they predict large, consistent and significant losses.

  5. Analisis Variabel Yang Mempengaruhi Earnings Per Share Pada Industri Food and Baverages Yang Go Public Di Bursa Efek Jakarta

    OpenAIRE

    -, Sutejo -; Swasto, Bambang -; Salim, Ubud -

    2010-01-01

    This research aimed at identifying both the simultaneous and partial influence of such variables as: return on equity (X1), net sales (X2), current ratio (X3), debt to equity (X4), inventory turnover (X5), total assets turnover (X6), and net profit margin (X7), on earnings per share. To examine such influence, this research investigated the food and beverages industries listed at the Jakarta Stock Exchange. The sample investigated included: 9 firms of 1992, 15 firms of 1993, 19 firms of 1994,...

  6. Within- and Cross-Firm Mobility and Earnings Growth

    DEFF Research Database (Denmark)

    Frederiksen, Anders; Halliday, Timothy; Koch, Alexander Karl

    It is widely accepted that promotions within firms and mobility across firms lead to significant earnings progression. Existing research generally examined cross-firm mobility separately from hierarchical advancement. Yet, as our descriptive evidence from Danish panel data shows, how the two types...... of mobility interact is important for understanding earnings growth. Cross-firm moves at the non-executive level provide sizeable short-run earnings growth (similar to the effect of being promoted to an executive position). These gains, however, appear modest compared with the persistent impact on earnings...... growth of promotions (either within or across firms) and subsequent mobility at a higher hierarchy level....

  7. The Differential Choice Of Chaebol In Earnings Management

    National Research Council Canada - National Science Library

    Youngeun Hong; Taewoo Kim; Jongkook Park

    2015-01-01

    .... Consistent with our prediction, we find a negative association between chaebols ownership and accrual-based earnings management, whereas there is no clear difference between chaebols ownership...

  8. The Audit Committee Characteristics and Earnings Quality: Evidence from Jordan

    Directory of Open Access Journals (Sweden)

    Allam Mohammed Mousa Hamdan

    2013-12-01

    Full Text Available The aim of the paper is to investigate the relationship between audit committee characteristics and earnings management. Samples in the study included 50 industrial companies listed on the Amman Stock Exchange ASE. Two models were used to measure earnings quality: one which depends on earnings continuity as an indication of quality, and one which depends on the decrease of discretionary accruals of quality, using pooled data regression for the two tests (Ordinary Least Squares OLS and Binary Logit. The study found that there was an influence of some standard characteristics of the audit committee on earnings quality.

  9. Persistence of quarterly earnings: an empirical investigation in Brazil

    Directory of Open Access Journals (Sweden)

    Renê Coppe Pimentel

    2012-01-01

    Full Text Available The aim of this paper is to estimate and analyze quarterly earnings persistence. In addition, we explore if earnings persistence varies across firms based on size and corporate governance standards. We first estimate the parameter revision of earnings and then we test the hypotheses that the parameter of earnings persistence is different for firms with different sizes (H1 and corporate governance standards (H2. We collect data from Brazilian listed firms with quarterly earnings per share available at Economatica database from last quarter of 1995 to first quarter 2011. Our results indicate that for most of the firms the earnings persistence is not significantly different from zero. The main implication of this result is that most of quarterly earnings innovation is transitory. In addition, the results support our first hypothesis indicating that larger firms present higher parameter of earnings persistence. The results also indicate that the parameter of earnings persistence is different for firms with different corporate governance standards, partially supporting our second hypothesis.

  10. Reconciling Estimates of Earnings Processes in Growth Rates and Levels

    DEFF Research Database (Denmark)

    Daly, Moira; Hryshko, Dmytro; Manovskii, Iourii

    The stochastic process for earnings is the key element of incomplete markets models in modern quantitative macroeconomics. It determines both the equilibrium distributions of endogenous outcomes and the design of optimal policies. Yet, there is no consensus in the literature on the relative...... show theoretically that the difference can be induced by the fact that earnings at the start or at the end of earnings spells are lower and more volatile than the observations in the interior of earnings histories. Using large administrative datasets from Denmark and Germany, we show that this property...

  11. Leadership Strategies for Maintaining Profitability in a Volatile Crude Oil Market

    Science.gov (United States)

    Braimoh, Lucky Anderson

    Volatile crude oil prices significantly affect the profitability of crude oil firms. The purpose of this single case study was to explore strategies some crude oil and gas business leaders used to remain profitable during periods of crude oil price volatility. The target population comprised 8 crude oil and gas business leaders located in Calgary, Canada, whose company remained profitable despite crude oil price volatility. The transformational leadership theory formed the conceptual framework for the study. Data were collected through the use of semistructured face-to-face interviews, company reports, and field notes. Data analysis involved a modified Van Kamm method, which included descriptive coding, a sequential review of the interview transcripts, and member checking. Based on methodological triangulation and thematic analysis, 5 themes emerged from the study, including communication and engagement; motivation and empowerment; measurement, monitoring, and control; self-awareness and humility; and efficiency and optimization. The implications for social change include the potential for crude oil and gas companies in Calgary, Canada to manage production costs, ensure earnings and profitability, and thus improve the socioeconomic well-being of Calgary indigenes through improved employment opportunities.

  12. Closing the Door to Lost Earnings Under the National Childhood Vaccine Injury Act of 1986.

    Science.gov (United States)

    Levin, Aaron

    2015-01-01

    After a wave of lawsuits against vaccine manufacturers hindered the profitability and production of life-saving vaccines, Congress enacted The National Childhood Vaccine Injury Act of 1986. The Act offers an incentive for individuals to get vaccinated in order to mitigate the population's exposure to disease, while encouraging the continued production of these serums by pharmaceutical companies. Although imperfect, the Vaccine Act fosters promise in filtering out frivolous claims and,provides a central route for due process to the individuals who suffer from a vaccine-related injury. By removing a potential state tort issue to the Federal Circuit, Congress created a reasonably justified avenue for the recovery of damages for injuries and adverse reactions to vaccines. However, this is not to say that the Act can't still be improved. Currently, the Act is silent on whether the death of a child from a vaccine-related injury, before a compensation decision is rendered, should bar the family from recovering for the child's lost earnings. Unless the victim demonstrates a stable source of income that they would have earned had their lives not been interrupted by the adverse reaction to the vaccine, the holding that a minor child may not recover for lost earnings is defensible. However, Congress should revise the statute to issue guidance to clarify its ambiguity. Under the current compensation regime, the standard is too arbitrary to decide that a child who dies before reaching the majority age of 18 has no earning potential. Any line Congress or the Supreme Court tries to draw will be arbitrary, but from an economic, policy, and legal perspective clarity and guidance can be offered to maintain greater flexibility through a case-by-case analysis and by applying the modern minimum wage in reference to the child's age. Independent from future earnings awards, Vaccine Act compensation should be amended to increase the cap on these damages to account for inflation since the

  13. Whistler-mode Waves Upstream of Saturn

    Science.gov (United States)

    Sulaiman, A.; Gurnett, D. A.; Halekas, J. S.; Yates, J. N.; Kurth, W. S.; Dougherty, M. K.

    2016-12-01

    Whistler-mode waves are generated within and can propagate upstream of collisionless shocks. They play a role in the dissipation process and, under certain conditions, are markedly observed as wave trains preceding the shock ramp. In this letter, we take advantage of Cassini's presence at 10 AU to explore the importance of whistler-mode waves in a new parameter regime typically characterized by higher Mach number shocks compared to near Earth. We identify electromagnetic precursors preceding a small subset of crossings with properties which are consistent with whistler-mode waves. We find these monochromatic, low-frequency, circularly-polarized waves to have a typical frequency range of 0.2 - 0.4 Hz in the spacecraft frame. The waves are observed as predominantly right-handed in the spacecraft frame, the opposite sense to what is typically observed near Earth. Our results suggest that whistlers in this parameter regime are more likely to be associated with electron acceleration than their thermal heating.

  14. Developmental Origins, Epigenetics, and Equity: Moving Upstream.

    Science.gov (United States)

    Wallack, Lawrence; Thornburg, Kent

    2016-05-01

    The Developmental Origins of Health and Disease and the related science of epigenetics redefines the meaning of what constitutes upstream approaches to significant social and public health problems. An increasingly frequent concept being expressed is "When it comes to your health, your zip code may be more important than your genetic code". Epigenetics explains how the environment-our zip code-literally gets under our skin, creates biological changes that increase our vulnerability for disease, and even children's prospects for social success, over their life course and into future generations. This science requires us to rethink where disease comes from and the best way to promote health. It identifies the most fundamental social equity issue in our society: that initial social and biological disadvantage, established even prior to birth, and linked to the social experience of prior generations, is made worse by adverse environments throughout the life course. But at the same time, it provides hope because it tells us that a concerted focus on using public policy to improve our social, physical, and economic environments can ultimately change our biology and the trajectory of health and social success into future generations.

  15. Block share ownership and corporate earning: Evidence from Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Somayye Adhami

    2013-01-01

    Full Text Available During the past few years, there have been growing interests among researchers to study the effect of block share ownership on corporate earning especially in developing countries. The purpose of this paper is to consider the impact of block ownership on performance of firms in terms of profitability. The proposed study develops two econometric models and applies them on selected firms from Tehran Stock Exchange over the period 2002-2010. The primary objective of this survey is to find the relationship between return of assets and Tobin's Q as dependent variables with eight independent variables including company size, sales growth, block ownership, debt and liability ratios, etc. The results of implementation of ordinary least squares on two econometric models reveal that while there is no meaningful relationship between return of asset and block ownership there is a meaningful relationship between block ownership and Tobin's Q.

  16. Education for Profit, Education for Freedom

    Science.gov (United States)

    Nussbaum, Martha C.

    2009-01-01

    Education is often discussed in low-level utilitarian terms: how can educators produce technically trained people who can hold onto "their" share of the global market? With the rush to profitability, values precious for the future of democracy are in danger of getting lost. The profit motive suggests to most concerned politicians that science and…

  17. Corporate Social Responsibility and Profit Maximizing Behaviour

    OpenAIRE

    Becchetti, Leonardo; Giallonardo, Luisa; Tessitore, Maria Elisabetta

    2005-01-01

    We examine the behavior of a profit maximizing monopolist in a horizontal differentiation model in which consumers differ in their degree of social responsibility (SR) and consumers SR is dynamically influenced by habit persistence. The model outlines parametric conditions under which (consumer driven) corporate social responsibility is an optimal choice compatible with profit maximizing behavior.

  18. Price Discrimination, Economies of Scale, and Profits.

    Science.gov (United States)

    Park, Donghyun

    2000-01-01

    Demonstrates that it is possible for economies of scale to induce a price-discriminating monopolist to sell in an unprofitable market where the average cost always exceeds the price. States that higher profits in the profitable market caused by economies of scale may exceed losses incurred in the unprofitable market. (CMK)

  19. Cooperation and profit allocation in distribution chains

    NARCIS (Netherlands)

    Guardiola, Luis A.; Meca, Ana; Timmer, Judith B.

    2007-01-01

    We study the coordination of actions and the allocation of profit in supply chains under decentralized control in which a single supplier supplies several retailers with goods for replenishment of stocks. The goal of the supplier and the retailers is to maximize their individual profits. Since the

  20. Risk Management And Organisational Profitability | Ukandu ...

    African Journals Online (AJOL)

    The level of growth and profit maximization in the oil industry has been impaired by a lot of risks. Risk control measures and effective plan are used to reduce the occurrence of such risks. Also, proper risk evaluation techniques are used to evaluate the cost implication of risk on production and the profitability level of such ...

  1. Will farm profits shift in 2013?

    OpenAIRE

    Nathan Kauffman

    2012-01-01

    Despite a severe drought, profits in the U.S. farm sector soared in 2012. Beginning in late June, U.S. crops and pastures wilted under one of the worst droughts in history. Although total farm incomes remained high, the drought exacerbated a widening gulf in profitability between the crop and livestock sectors.

  2. relating customer satisfaction to customer profitability

    African Journals Online (AJOL)

    PROF EKWUEME

    carried out by marketing scholars. This is not likely to advance marketing theory. After all, accounting to profitability lies at the heart of the marketing concept, Kohli & Jaworski (1990:1-18) and Narver and Slater (1990:35). Similarly, according to Buttle (1996) marketing's link to profitability is stressed in the definitions of.

  3. On using an efficiency matrix in analysing profit per employee (on the basis of the Estonian SME software sector 

    Directory of Open Access Journals (Sweden)

    Paavo Siimann

    2015-11-01

    Full Text Available Service companies earn their profit mainly due to their employees’ intellectual skills, therefore, increasing profit per employee is one opportunity to increase profit and thereby also the company’s market value. In this article the number of employees, the value of owners’ equity and loan capital, operating expenses, net sales and profit before income tax have been used to analyse the change in profit per employee of the Estonian software small and medium-sized enterprise (SME sector in total, and for small and medium-sized companies separately in the years 2009–2013. Furthermore, this article demonstrates that the efficiency matrix methodology and its developments that were refined in Estonia and Russia from the 1960s to the 1990s can be deployed nowadays as well. Of all the components, profit margin and owners’ equity per employee showed the most rapid growth during the analysed period. Profit per employee was higher in the small enterprises segment and lowest among medium-sized enterprises, where owners’ equity per employee, net sales to operating expenses, and profit margin were lower than in small enterprises over the whole period analysed.

  4. Determinants of Iranian bank profitability

    Directory of Open Access Journals (Sweden)

    Hassan Ghodrati

    2014-04-01

    Full Text Available Banks are the most important tool for preparing and supplying money in each country. In recent years, by institution of the new private banks and privatization of the governmental banks, banking competition has become very complex. This paper performs an empirical investigation to study the effects of different factors on return on assets and return on equities on 18 selected Iranian firms over the period 2002-2011. Using different regression models, the study studies the effects of total assets, debt ratio, etc. on return of assets (ROA and return on equities (ROE on selected eighteen Iranian banks as statistical community. The study considers total assets, ownership ratio, deposits to assets ratio, and loans to assets ratio as independent variables, and ROE and ROA as dependent variables. The results indicate that the private banks returns were better than governmental banks and the commercial banks’ returns were better than special banks. There is a reverse relationship between logarithm of total assets and ownership ratio with profitability based on return of assets.

  5. Profiting from innovative user communities

    DEFF Research Database (Denmark)

    Jeppesen, Lars Bo

    Modding - the modification of existing products by consumers - is increasingly exploited by manufacturers to enhance product development and sales. In the computer games industry modding has evolved into a development model in which users act as unpaid `complementors' to manufacturers' product pl......, a manufacturer can incorporate and commercialize the best complements found in the user communities. Keywords: innovation, modding, user communities, software platform, business model. JEL code(s): L21; L23; O31; O32...... platforms. This article explains how manufacturers can profit from their abilities to organize and facilitate a process of innovation by user communities and capture the value of the innovations produced in such communities. When managed strategically, two distinct, but not mutually exclusive business...... models appear from the production of user complements: firstly, a manufacturer can let the (free) user complements `drift' in the user communities, where they increase the value to consumers of owning the given platform and thus can be expected to generate increased platform sales, and secondly...

  6. Profitability Analysis of Soybean Oil Processes

    Directory of Open Access Journals (Sweden)

    Ming-Hsun Cheng

    2017-10-01

    Full Text Available Soybean oil production is the basic process for soybean applications. Cash flow analysis is used to estimate the profitability of a manufacturing venture. Besides capital investments, operating costs, and revenues, the interest rate is the factor to estimate the net present value (NPV, break-even points, and payback time; which are benchmarks for profitability evaluation. The positive NPV and reasonable payback time represent a profitable process, and provide an acceptable projection for real operating. Additionally, the capacity of the process is another critical factor. The extruding-expelling process and hexane extraction are the two typical approaches used in industry. When the capacities of annual oil production are larger than 12 and 173 million kg respectively, these two processes are profitable. The solvent free approach, known as enzyme assisted aqueous extraction process (EAEP, is profitable when the capacity is larger than 17 million kg of annual oil production.

  7. Profitability Analysis of Soybean Oil Processes.

    Science.gov (United States)

    Cheng, Ming-Hsun; Rosentrater, Kurt A

    2017-10-07

    Soybean oil production is the basic process for soybean applications. Cash flow analysis is used to estimate the profitability of a manufacturing venture. Besides capital investments, operating costs, and revenues, the interest rate is the factor to estimate the net present value (NPV), break-even points, and payback time; which are benchmarks for profitability evaluation. The positive NPV and reasonable payback time represent a profitable process, and provide an acceptable projection for real operating. Additionally, the capacity of the process is another critical factor. The extruding-expelling process and hexane extraction are the two typical approaches used in industry. When the capacities of annual oil production are larger than 12 and 173 million kg respectively, these two processes are profitable. The solvent free approach, known as enzyme assisted aqueous extraction process (EAEP), is profitable when the capacity is larger than 17 million kg of annual oil production.

  8. Hard-headedness will get you there. Matthias Eggert generates profitable solar power on a south-western roof in Schleswig-Holstein; Mit Sturheit kommt man weiter. Matthias Eggert produziert in Schleswig-Holstein auf einem Suedwestdach rentablen Solarstrom

    Energy Technology Data Exchange (ETDEWEB)

    Krause, Matthias B.

    2011-12-15

    Profitable generation of solar power in northern Germany, on a roof that is not facing south? Home owner Matthias Eggert of Schafstedt in the German region of Dithmarschen decided to give it a try. His solar cell arrays started power generation in 2009, and in 20 years he will have earned nearly 10,000 Euros if things go well.

  9. Effects of Foreign Education on Immigrant Earnings

    Directory of Open Access Journals (Sweden)

    Cao, Xingshan

    2009-01-01

    Full Text Available AbstractThis study explores the effects of foreign education on earnings. Previously, most research used indirect estimated information about foreign education, and documented the lower earnings of immigrants who had foreign education in comparison to those who had domestic education. Using direct information obtained from respondents of a recent survey, this research goes beyond the existing studies by suggesting three factors in earning discounts: (1 whether the highest level of education was received overseas, (2 the country where foreign education was received, and (3 name recognition of the foreign university. In addition, our study points out that social networks can reduce the foreign education discount, especially in nonprofessional occupations.RésuméCette recherche explore les effets de l’éducation acquise à l’étranger sur le niveau des gains. Auparavant, la majorité des enquêtes se basaient sur une estimation indirecte des données sur l’éducation acquise à l’étranger et documentaient les gains moins élevés des immigrants qui avaient reçu leur éducation à l’étranger en comparaison à ceux qui avaient suivi leurs études au pays. En utilisant des données directes recueillies auprès des répondants d’un récent sondage, cette étude va plus loin que les études actuelles en suggérant trois facteurs dans la réduction des gains : 1 est-ce que le plus haut niveau de scolarité a été acquis à l’étranger, 2 dans quel pays l’éducation a-t-elle été reçue, et 3 quel est le niveau de réputation de l’université étrangère. De plus, notre étude indique que les réseaux sociaux peuvent diminuer la réduction des gains causée par l’éducation acquise à l’étranger, particulièrement dans les professions non-diplômées.

  10. Improving balance of payment in Nigeria through agricultural earnings

    African Journals Online (AJOL)

    Improving balance of payment in Nigeria through agricultural earnings. MACA Odii, CSV Onyemauwa. Abstract. The broad objective of this research is to analyse how the balance of payment management in Nigeria can be improved through agricultural earnings. Data for the study was secondary time series data covering ...

  11. 5 CFR 630.303 - Part-time employees; earnings.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 1 2010-01-01 2010-01-01 false Part-time employees; earnings. 630.303... AND LEAVE Annual Leave § 630.303 Part-time employees; earnings. A part-time employee for whom there... workweek, and a part-time employee on a flexible work schedule for whom there has been established only a...

  12. 5 CFR 550.106 - Annual maximum earnings limitation.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 1 2010-01-01 2010-01-01 false Annual maximum earnings limitation. 550.106 Section 550.106 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT CIVIL SERVICE REGULATIONS PAY ADMINISTRATION (GENERAL) Premium Pay Maximum Earnings Limitations § 550.106 Annual maximum...

  13. 5 CFR 550.105 - Biweekly maximum earnings limitation.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 1 2010-01-01 2010-01-01 false Biweekly maximum earnings limitation. 550.105 Section 550.105 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT CIVIL SERVICE REGULATIONS PAY ADMINISTRATION (GENERAL) Premium Pay Maximum Earnings Limitations § 550.105 Biweekly maximum...

  14. Earnings-Dividend Relationship in Corporate Nigeria; A Test of ...

    African Journals Online (AJOL)

    Prompted by the need for an empirical evaluation of the relationship between corporate net earnings and dividend payouts of quoted Nigerian firms as well as the search for a strong predictive model for this relationship, the study evaluates the predictive efficacies of current- and one- year- lagged earnings regression ...

  15. Accrual-based and real earnings management and political connections

    NARCIS (Netherlands)

    Braam, Geert; Nandy, Monomita; Weitzel, Utz; Lodh, Suman

    2015-01-01

    This study examines whether the trade-off between real and accrual-based management strategies differs between firms with and without political connections. We argue that politically connected firms are more likely to substitute real earnings management for accrual-based earnings management than

  16. Skill Demands and Earnings in Female and Male Occupations.

    Science.gov (United States)

    England, Paula; And Others

    1982-01-01

    Uses regression substitution procedure to show skill differences between male and female occupations explain virtually none of the earning gap between the sexes. Female occupations systematically pay less than is predicted by their skill demands. Doing manual work, in which men predominate, has a negative effect on female earnings. (NEC)

  17. Gender Earnings Gap among Young European Higher Education Graduates

    Science.gov (United States)

    Garcia-Aracil, Adela

    2007-01-01

    This paper examines the composition of the gender earnings gap among young European higher education graduates, with a particular focus on competencies controlling for individual background and job characteristics. The results show that much of the female worker's earnings advantage can be explained by job characteristics. With respect to the…

  18. Understanding the quality of earnings for integrated health systems.

    Science.gov (United States)

    Zismer, Daniel K; Proeschel, Steven

    2009-12-01

    Integrated delivery systems could benefit from analyzing quality of earnings to better understand their management plans and methods. Quality-of-earnings analyses can provide understanding of current and future financial performance beyond the bottom line. Following a framework for analysis can help leaders gain a better overall picture of the system's finances.

  19. Investigating MBA Degrees Earned by Women: A Decade of Change

    Science.gov (United States)

    McConnell, Cheryl; Rush, Douglas; Gartland, Myles

    2016-01-01

    The authors examined master of business administration (MBA) degrees earned by women at U.S. higher education institutions at three specific years spanning a decade: 2003, 2008, and 2013 to determine whether there was a significant difference in the percentage of MBA degrees earned by women based on the independent variables of institutional type,…

  20. Within- and cross-firm mobility and earnings growth

    DEFF Research Database (Denmark)

    Frederiksen, Anders; Halliday, Timothy; Koch, Alexander Karl

    and techniques from the literature on earnings dynamics. Furthermore, linked measures of income taxation - a unique feature of our data - allow us to estimate whether the effects of mobility on gross income growth carry over to net income. We show that vertical mobility, either within or across firms......, and not horizontal mobility across firms is what ultimately matters for gross earnings growth. However, because of progressive taxation, we do not see any effects of vertical mobility on net earnings growth. Instead, the fruits of promotions are enjoyed in the form of tax shields such as future consumption via tax......While it is well established that both promotions within firms and mobility across firms lead to substantial earnings progression, few studies offer an integrated analysis of the effects of these two types of mobility on earnings growth. To do this, we exploit a large Danish panel data set...

  1. EARNINGS MANAGEMENT: DETERMINANT FACTORS AND STOCK PRICE IN DEVELOPING MARKET

    Directory of Open Access Journals (Sweden)

    Zaenal Fanani

    2017-03-01

    Full Text Available The aim of this study was to prove whether manager coped its earnings for the purpose ofinformative or target opportunistic. Research also investigated whether investment opportunity setinfl uenced the choice of manager to report as opportunistic to hide performance, or to report earningmore informative concerning with debt, political cost, market share, and earning. Sample of thisresearch was chosen by using purposive sampling of 350 manufacturing business listed in the JakartaStock Exchange, started from 1997 up to 2002. Structural Equation Modeling (SEM by using programof Analysis of Moment Structures (AMOS was considered as the appropriate statistical technique toexamine pattern relation of formed model. The results showed that earning management conductedby manager in Developing Market such as Indonesia represented informative earning managementwhich meant all investors had more own belief in earning reporting, but this research could notprove that company owning high investment opportunity set tended to conduct informative earningmanagement.

  2. Measuring the effect of managerial ability on earning quality

    Directory of Open Access Journals (Sweden)

    Jamal Bahri Sales

    2015-09-01

    Full Text Available This paper presents an empirical investigation to measure the effect of managerial ability on earning quality on selected firms listed on Tehran Stock Exchange over the period 2007-2013. The proposed study uses data envelopment analysis to measure the relative efficiency of selected firms where Sales is considered as output and Cost of goods (COGS, Selling, General and Administrative Expenses (SG&A, Net Property Plant and Equipment (PPE, Net operating Leases (OpsLease, Research & Development (R&D, Purchased Good will (Goodwill and Other intangible assets (OtherIntan are considered as inputs. Earning quality in this survey consists of three parts of quality of accruals, earnings and earnings forecast persistence. The results of our survey have indicated that managerial ability influences positively on earning quality.

  3. Study of prototype sensors for the Upstream Tracker Upgrade

    CERN Document Server

    Abba, Andrea; Blusk, Steven R.; Bursche, Albert; Davis, Adam; Dendek, Adam Mateusz; Dey, Biplab; Ely, Scott Edward; Forshaw, Dean Charles; Fu, Jinlin; Kelsey, Matthew Jordan; Lionetto, Federica; Manning Jr, Peter Michael; Mountain, Ray; Neri, Nicola; Papula, Alana Leigh; Petruzzo, Marco; Pikies, Malgorzata Maria; Rudolph, Matthew Scott; Sokoloff, Michael David; Stone, Sheldon; Szumlak, Tomasz; Wang, Jianchun

    2016-01-01

    Three testbeams were carried out in 2015 to test the performance of prototype sensors for the Upstream Tracker. Two of the testbeams were devoted to studying full size n-in-p sensors, and one was devoted to testing mini-sensors, all from Hamamatsu. Results on the performance of these Upstream Tracker sensor prototypes are presented.

  4. Can Bt Technology Reduce Poverty Among African Cotton Growers? An Ex Ante Analysis of the Private and Social Profitability of Bt Cotton Seed in Mozambique.

    OpenAIRE

    Pitoro, Raul; Walker, Thomas S.; Tschirley, David L.; Swinton, Scott M.; Boughton, Duncan; de Marrule, Higino Francisco

    2009-01-01

    This paper presents an ex ante analysis of the private and social profitability of the introduction of Bt cotton for a major cotton producing area of northern Mozambique. Cotton is especially relevant to rural poverty reduction because smallholders often have few alternative cash earning activities, and yields are among the lowest in Africa. Multivariate regression is used to quantify the relationship between pest control and yield loss at farm level as a basis for estimating the expected yie...

  5. A comparison of ethical perceptions of earnings-management practices

    Directory of Open Access Journals (Sweden)

    Leonie Jooste

    2011-12-01

    Full Text Available In 1990, Bruns and Merchant (1990 surveyed earnings-management practices and asked the readership of the Harvard Business Review to rate the acceptability of those practices. Prior to the Bruns and Merchant (1990 study, the morality of short-term earnings-management was of little concern to researchers and accounting practitioners. However, in the light of increased financial frauds and failures, new and increased emphasis has been placed on the importance of the concepts of earnings quality and earnings-management practices. Despite increased research focusing on business ethics since 1990, there is little evidence that the profession is educating accountants about earnings-management practices. This study compares the results of studies on earnings-management practices. Students and business managers were surveyed at the Nelson Mandela Metropolitan University (NMMU and these results were compared to studies prior to the Sarbanes-Oxley Act 2002 in the USA. The aim of the study is to determine if there have been changes in attitudes towards earnings-management practices since the acceptance of the Sarbanes-Oxley Act.

  6. Marketization, occupational segregation, and gender earnings inequality in urban China.

    Science.gov (United States)

    He, Guangye; Wu, Xiaogang

    2017-07-01

    This article analyzes a large sample of the 2005 population mini-census data and prefecture-level statistics of China to investigate gender earnings inequality in the context of economic marketization, paying special attention to the changing role of occupational segregation in the process. We approximate marketization by employment sectors and also construct an index of marketization at the prefecture level. Results show that, despite the tremendous economic growth, marketization has exacerbated gender earnings inequality in urban China's labor markets. Gender earnings inequality is the smallest in government/public institutions, followed by public enterprises, and then private enterprises. The gender inequality also increases with the prefecture's level of marketization. Multilevel analyses show that occupational segregation plays an important role in affecting gender earnings inequality: the greater the occupational segregation, the more disadvantaged women are relative to men in earnings in a prefecture's labor market. Moreover, the impact of occupational segregation on gender earnings inequality increases with the prefectural level of marketization. These findings contribute to understanding the dynamics of gender earnings inequality and have important implications for policy to promote gender equality in urban China. Copyright © 2016 Elsevier Inc. All rights reserved.

  7. The Process Management in Non - Profit Organisations

    National Research Council Canada - National Science Library

    Dagmara Bubel; Sylwia Legowik-Swiacik; Michal Dziadkiewicz; Anna Wisniewska-Salek

    2016-01-01

      The purpose of this paper is to learn about the implementation of the process management concepts in the non-profit organisations and the possible evaluation of effectiveness raise of the organisations' functioning...

  8. Donations and Differentiation: Three Essays on Non-Profit Strategy

    OpenAIRE

    Wolfolds, Sarah

    2016-01-01

    Given increased competition with for-profit firms, the issue of the comparative advantage of non-profit organizations is renewed. While non-profits may want to differentiate themselves when faced with additional non-profit competition, it is unclear whether they would want to differentiate themselves or converge towards for-profit competitors. This paper addresses this issue by considering the different financing models, human resource systems, and objectives of non-profit organizations, as c...

  9. TRANSPARENCY IN ITALIAN NON PROFIT ORGANIZATIONS

    Directory of Open Access Journals (Sweden)

    Patrizia Gazzola

    2014-07-01

    Full Text Available The aim of the paper is to evaluate the accountability and transparency of Italian non profits organizations. The main goal is to understand if a general accountability or transparency problem, or a systematic publicity deficit, exist in the third sector in Italy. Non profit organizations have an ethical obligation to their stakeholder and to the public to conduct their activities with accountability and transparency. Non profit organizations should regularly and openly convey information to the stakeholder about their vision, mission, objectives, activities, accomplishments, decision-making processes and organizational structure. Information from a non profit organization should be easily accessible to the stakeholder and should create external visibility, public understanding and trust in the organization, conditions necessary to find donors. Non profit organizations work with communities and community donors need to know how their money is used. In the first part the analysis of the definition of transparency and accountability is made and the sustainability report like an important instrument of communication is considered. In the second part an empirical research is presented. The Italian law allows taxpayers to devote 5 per thousand of their income tax to non profit organizations, choosing between charities, social promotion associations, recognized associations, entities dedicated to scientific research and health care, universities, municipal social services and other non profit organizations. The present study present a quantitative research and it’s based on an empirical analysis of non-profit organizations that receive this donation in Italy in the year 2010 and 2011. In the paper we analyze the transparency and the accountability of the top 100 non profit organizations that have received the contribution of 5 per thousand, checking whether they prepare their Sustainability Report or any other kind of report for communicate the use

  10. Immigrants’ initial firm allocation and earnings growth

    Directory of Open Access Journals (Sweden)

    Wen Ci

    2017-05-01

    Full Text Available While employers are playing an increasingly important role in immigration selection in Canada, little is known about how firm-level characteristics affect the economic integration of immigrants. Using a Canadian employer–employee matched dataset, this paper considers whether immigrants initially employed in low-paying firms in Canada experienced inferior earnings growth than those initially employed in high-paying firms. The results show that the large earnings differential observed between immigrants initially employed in low- and high-paying firms diminished only slightly over the subsequent 14 years, even when differences in demographic and general human capital characteristics are taken into account. Alors que les employeurs jouent un rôle de plus en plus important dans la sélection des immigrants qui s’établissent au Canada, on en sait peu sur la façon dont les caractéristiques au niveau de l’entreprise influencent l’intégration économique de ces derniers. Au moyen d’un ensemble de données appariées sur les employeurs et les employés, le présent document vise à déterminer si la croissance des gains des immigrants employés initialement au Canada par des entreprises à bas salaires est plus faible que celle des gains des immigrants employés au départ par des entreprises à hauts salaires. Les résultats montrent que l’écart important observé entre les gains des immigrants employés au départ par des entreprises à bas salaires et de ceux employés par des entreprises à hauts salaires ne diminuait que légèrement au cours des 14 années suivantes, même après avoir tenu compte des différences de caractéristiques démographiques et de caractéristiques générales du capital humain.

  11. Tax Evasion, Monopoly, and Nonneutral Profit Taxes

    OpenAIRE

    Lee, Kangoh

    1998-01-01

    It is known in the literature that tax evasion does not influence the monopolist's output decision, and hence, profit taxes are neutral, even in the presence of tax evasion. This result is based on the assumption that the audit probability and the penalty rate are fixed or depend on the understatement or overstatement of relevant economic indicators. However, under alternative and perhaps more reasonable formulations of the audit probability, the neutrality of profit taxes may not be preserve...

  12. Social media and small non profit organisations

    OpenAIRE

    Gulyás, A.

    2016-01-01

    This project sought to explore patterns of and views about social media adoption among small non-profit organisations and to identify mechanisms that could effectively support these organisations with their social media use. \\ud The following findings emerged from the study: \\ud • Social media are now part of the organisational infrastructure of small non-profits and the main ways in which they communicate with the public\\ud • Key variables that influence social media adoption among small non...

  13. Inclusive governance in non-profit organisations

    OpenAIRE

    Borzaga, Carlo; Sacchetti, Silvia

    2015-01-01

    The study of private non-profit enterprises that offer general interest services is only at the start. The understanding of existing organisations resists an inclusive, public interest view of governance. This contribution aims at providing a reflection on specific features that non-profit enterprises should have, and outlines four main justifications for including stakeholders in production governance: 1) access to knowledge and other resources, 2) trust creation, 3) internal efficiency, 4) ...

  14. DETERMINANTS OF BANK PROFITABILITY IN CROATIA

    OpenAIRE

    Ana Kundid; Blanka Škrabić; Roberto Ercegovac

    2011-01-01

    The research objective of this study is twofold. It aims to provide a synthesis of relevant empirical researches on the determinants of commercial banks’ profitability and to establish empirical verification of profitability determinants of banks in the Republic of Croatia using an econometric method of dynamic panel analysis. The empirical analysis is carried out on a data sample of 28 commercial banks in the period 2003-2008 which continuously refers to more than 95 % of assets of the overa...

  15. Determinants of commercial bank profitability in Mexico

    OpenAIRE

    Chavarín, Rubén

    2015-01-01

    The aim of the present work is to identify the main determinants of profitability for commercial banks established in Mexico. A data base of 45 banks representing virtually the whole world of commercial banking in the period 2007-2013 was used. Dynamic models using Arellano-Bover/Blundell-Bond estimators with an error that follows an MA(1) process were employed along with static models having random effects and Hausman-Taylor estimator. Findings suggest that the profitability of commercial ba...

  16. Energy Conflicts and Differential Profits: An Update

    OpenAIRE

    Bichler, Shimshon; Nitzan, Jonathan

    2014-01-01

    During the late 1980s and early 1990s, we identified a new phenomenon that we called ‘energy conflicts’ and showed that these conflicts were intimately linked to the differential profitability of the leading oil companies. This link remains as true today as it was in the early 1970s. Like earlier energy conflicts, the ‘Arab Spring’, the outsourced wars that followed and the third Gulf War against ISIS continue to march to the drum beat of differential profits.

  17. 77 FR 22515 - Allocation of Earnings and Profits in Tax-Free Transfers From One Corporation to Another

    Science.gov (United States)

    2012-04-16

    ...: Send submissions to: CC:PA:LPD:PR (REG-141268-11), Room 5203, Internal Revenue Service, P.O. Box 7604... between the hours of 8 a.m. and 4 p.m. to: CC:PA:LPD:PR (REG- 141268-11), Courier's Desk, Internal Revenue... the IRS and Treasury Department participated in their development. List of Subjects in 26 CFR Part 1...

  18. Fractal profit landscape of the stock market.

    Science.gov (United States)

    Grönlund, Andreas; Yi, Il Gu; Kim, Beom Jun

    2012-01-01

    We investigate the structure of the profit landscape obtained from the most basic, fluctuation based, trading strategy applied for the daily stock price data. The strategy is parameterized by only two variables, p and q Stocks are sold and bought if the log return is bigger than p and less than -q, respectively. Repetition of this simple strategy for a long time gives the profit defined in the underlying two-dimensional parameter space of p and q. It is revealed that the local maxima in the profit landscape are spread in the form of a fractal structure. The fractal structure implies that successful strategies are not localized to any region of the profit landscape and are neither spaced evenly throughout the profit landscape, which makes the optimization notoriously hard and hypersensitive for partial or limited information. The concrete implication of this property is demonstrated by showing that optimization of one stock for future values or other stocks renders worse profit than a strategy that ignores fluctuations, i.e., a long-term buy-and-hold strategy.

  19. TURKISH BANKING SECTOR’S PROFITABILITY FACTORS

    Directory of Open Access Journals (Sweden)

    Songül Kakilli ACARAVCI

    2013-01-01

    Full Text Available Profitability of banking sector is the most important instrument of financial system for the future of the economy. The objective of this study is to determine by using Johansen and Juselius cointegration test approach of the bank specific and macroeconomic factors that affect the profitability of commercial banks in Turkish banking sector. In study, the data are collected from the three biggest state-owned, privately-owned and foreign banks. The sample period spans from 1998 to 2011. In the study, return of asset, return of equity and net interest margin were used as proxy for profitability of banks. The bank specific determinants, which were thought to have effects on profitability are total credits/total assets, total deposits/total assets, total liquid assets/total assets, total wage and commission incomes/ total assets, total wage and commission expenses/total assets, the logarithm of total assets and total equity/total assets. The macroeconomic determinants of study are real gross domestic product, inflation rate, real exchange rate and real interest rate. Empirical findings suggest that the bank specific determinants have been more effect than macroeconomic factors on profitability of the banks. The reel gross domestic product and real exchange rate have been effective on the profitability. In addition, the 2001 economic crisis has a negative effect on all Turkish Banking sector.

  20. The Commercial Profitability of Growing Hybrid Eucalyptus Clones in The Coast Province, Kenya

    Directory of Open Access Journals (Sweden)

    Balozi Bekuta Kirongo

    2014-04-01

    Full Text Available Due to the current high demand for timber, fuelwood, and building poles and the realization that tree growing may pay dividends in the short and long term, many farmers are planting trees on their farms. Farmers are increasingly planting eucalyptus partly due to the fast growth rates of the hybrid clones as well as the opportunity to earn money within a short time. In this paper we report on the profitability of growing eucalyptus hybrid clones in the coastal region, Kenya. Tree growth and cost data was sourced from farmers in Malindi, Kilifi, and Msambweni. Market information was sourced from hardwares in North and South Coast while tree growth models were used to provide average tree sizes at various ages. Results showed that a farmer could make a net income of upto Kshs.500,000.00 (USD6,250 in 5 years. Farmers in the South Coast (Kwale and Msambweni spent more on transport than their counterparts in the North Coast (near Gede-KEFRI. This, added to the fact that trees in the South Coast (Msambweni grew less compared to those in North Coast meant that farmers in the south made less profits. Keywords: profitability, eucalyptus on-farm tree growing, renewable energy, aforestation

  1. Disparities in earnings and education in India

    Directory of Open Access Journals (Sweden)

    P. Geetha Rani

    2014-12-01

    Full Text Available This paper studies the impact of different levels of education, religion, caste as well as the impact of living in urban and rural communities on earnings in India. Besides these conventional stratification, yet another academic caste which influence earnings—the English language ability, is also examined. The paper uses a large cross-section sample of India Human Development Survey to estimate Mincer and augmented Mincer equations. The rates of return estimates obtained in these data and method confirm that returns to education increase with the level of education across location, caste-religion and English language ability. Returns to lower levels of education are low across different groups, indicating the low quality of basic schooling in the country. Returns to higher education vary at a great deal ranging between 4.9% among the rural workers and 38.2% among fluent English ability group. This is in contrast to Duraisamy reporting the highest returns to secondary education in India, between the period 1983 and 1993–1994. In a decade’s time, with changes in the economy and in the labour market, higher education especially the English language ability along with higher education brings in the highest wage premium.

  2. Profits in reverse? An examination of the decisive factors for reverse supply chain profitability

    DEFF Research Database (Denmark)

    Larsen, Samuel; Jacobsen, Peter

    2015-01-01

    Although the concept of the reverse supply chain (RSC) is not unknown in industry, an inhibitor for its successful use is low (or no) profitability. A research challenge is investigating ways to establish the RSC as a profit-creating center in the organization. This paper contributes to this chal......Although the concept of the reverse supply chain (RSC) is not unknown in industry, an inhibitor for its successful use is low (or no) profitability. A research challenge is investigating ways to establish the RSC as a profit-creating center in the organization. This paper contributes...

  3. Ownership Structure and Earnings Management in periods of Executive Changes

    DEFF Research Database (Denmark)

    Sommer, Rasmus S.

    This paper reports evidence of earnings management associated with non-routine executive changes in a Danish context. It is hypothesised that incoming executives in non-owner-controlled companies decrease earnings by means of discretionary accruals in the financial statements relating to the period...... of the executive change. A modified, modified Jones model is used to divide income before tax into discretionary and non-discretionary components. The empirical evidence is consistent with the hypothesis. Non-owner-controlled companies significantly decrease earnings around executive changes, while...... this is not the case for owner-controlled companies. Also, a test shows a significant difference in earnings management in owner- versus non-owner-controlled companies around executive changes. The study elaborates on the research in the area by including ownership structure. Furthermore, the study is carried out...

  4. Cost Earnings Survey of NWHI Bottomfish Fleets (1993): Obsolete

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — This study collected cost-earnings information for the 12 vessels which had reported bottomfish landings from Northwestern Hawaiian Islands in 1993 in order to...

  5. Hawaii Small Boat Cost-Earnings Data: 2014

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — These data represent a cost-earnings study of the Hawaii small boat fishery in 2014. Data collected include fisher classification, vessel characteristics, levels of...

  6. Hawaii Small Boat Cost-Earnings Data: 2007-2008

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — These data represent a cost-earnings study of the Hawaii small boat fishery in 2007-2008. Data collected include fisher classification, vessel characteristics,...

  7. Hawaii Small Boat Cost-Earnings Data: 1995-1996

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — These data represent a cost-earnings study of the Hawaii small boat fishery in 1995-1996. Data collected include fisher classification, vessel characteristics,...

  8. EARNINGS MANAGEMENT: DETERMINANT FACTORS AND STOCK PRICE IN DEVELOPING MARKET

    National Research Council Canada - National Science Library

    Zaenal Fanani

    2017-01-01

    ... with debt, political cost, market share, and earning. Sample of thisresearch was chosen by using purposive sampling of 350 manufacturing business listed in the JakartaStock Exchange, started from 1997 up to 2002...

  9. Decomposing gender differences in college student earnings expectations

    OpenAIRE

    Delaney, Liam; Harmon, Colm; Remond, Cathy

    2010-01-01

    Despite the increasing coverage and prevalence of equality legislation and the general alignment of key determining characteristics such as educational attainment, gender differentials continue to persist in labour market outcomes, including earnings. Recently, evidence has been found supporting the role of typically unobserved non-cognitive factors in explaining these gender differentials. We contribute to this literature by testing whether gender gaps in the earnings expectations of a repre...

  10. Do partial disability pensions close the earnings gap?

    OpenAIRE

    Cueto, Begona; Miguel Á., Malo

    2014-01-01

    In this article, we estimate the total earnings losses of male workers with a partial disability, i.e., they are able to work in a different occupation after disability onset. We use a Spanish administrative dataset (Muestra Continua de Vidas Laborales) from a specific partial disability pension scheme (Incapacidad Permanente Total). Using propensity score estimators combined with difference-in-differences, the estimation of the causal effect of the disability onset shows earnings losses to b...

  11. The earnings effect of education at community colleges

    OpenAIRE

    Marcotte, Dave E.

    2006-01-01

    In this paper, I make use of data from the 2000 follow-up of the National Education Longitudinal Survey (NELS) post-secondary education transcript files to extend what is known about the value of education at community colleges. I examine the effects of enrollment in community colleges on students' subsequent earnings. I estimate the effects of credits earned separate from credentials because community colleges are often used as a means for students to engage in study not necessarily leading ...

  12. Optimal Replenishment Decisions under Two-Level Trade Credit with Partial Upstream Trade Credit Linked to Order Quantity and Limited Storage Capacity

    Directory of Open Access Journals (Sweden)

    Chih-Te Yang

    2014-01-01

    Full Text Available This paper extends the previous economic order quantity (EOQ models under two-level trade credit such as Goyal (1985, Teng (2002, Huang (2003, 2007, Kreng and Tan (2010, Ouyang et al. (2013, and Teng et al. (2007 to reflect the real-life situations by incorporating the following concepts: (1 the storage capacity is limited, (2 the supplier offers the retailer a partially upstream trade credit linked to order quantity, and (3 both the dispensable assumptions that the upstream trade credit is longer than the downstream trade credit Nearned per dollar per year Ic

  13. Working group 3: upstream pipelines: inspection, corrosion and integrity management

    Energy Technology Data Exchange (ETDEWEB)

    Paez, Jorge; Stephenson, Mark [Talisman Energy, (Canada)

    2011-07-01

    The third topic investigated the latest challenges to upstream pipeline operation and the areas for improvement in upstream integrity in the pipeline industry. The first session of talks reported on the pipeline incident analysis conducted by the CAPP on several companies from 2006 to 2010 in order to identify best management practises and to drive improvement in pipeline integrity management. Reviews of primary failure statistics and failure frequency were conducted with respect to the various materials of pipes. A summary of changes to the CSA standard related to non-metallic pipes was also presented to complete this background overview of the upstream industry. The second session provided more information about these non-metallic pipes, focusing on construction and quality issues with large diameter HDPE pipelines. The third session discussed the ERW pipeline in relation to upstream industry. An integrity management panel discussion was carried out to close this third working group.

  14. The flexible fairness: equality, earned entitlement, and self-interest.

    Science.gov (United States)

    Feng, Chunliang; Luo, Yi; Gu, Ruolei; Broster, Lucas S; Shen, Xueyi; Tian, Tengxiang; Luo, Yue-Jia; Krueger, Frank

    2013-01-01

    The current study explored whether earned entitlement modulated the perception of fairness in three experiments. A preliminary resource earning task was added before players decided how to allocate the resource they jointly earned. Participants' decision in allocation, their responses to equal or unequal offers, whether advantageous or disadvantageous, and subjective ratings of fairness were all assessed in the current study. Behavioral results revealed that participants proposed more generous offers and showed enhanced tolerance to disadvantageous unequal offers from others when they performed worse than their presumed "partners," while the reverse was true in the better-performance condition. The subjective ratings also indicated the effect of earned entitlement, such that worse performance was associated with higher perceived feelings of fairness for disadvantageous unequal offers, while better performance was associated with higher feelings of fairness for advantageous unequal offers. Equal offers were considered "fair" only when earned entitlement was even between two parties. In sum, the perception of fairness is modulated by an integration of egalitarian motivation and entitlement. In addition to justice principles, participants were also motivated by self-interest, such that participants placed more weight on entitlement in the better-performance condition than in the worse-performance condition. These results imply that earned entitlement is evaluated in a self-serving way.

  15. The Islamic Capital Market Response to the Real Earnings Management

    Directory of Open Access Journals (Sweden)

    Rita Yuliana

    2017-06-01

    Full Text Available This study aims to prove the effect of the company's status, i.e membership on the Islamic capital market and the status as suspect firm, as a determinant of real earnings management (REM. REM is conducted by abnormally increasing sales, increasing production and reducing discretionary costs in order to achieve a certain earnings target. This study uses Earnings Distribution Analysis (EDA technique, which refers to the Prospect Theory (Kahneman & Tversky, 1979 to identify the suspect firms. Suspect firms are companies that have small positive earnings. The samples of this research are companies listed on the Indonesia Stock Exchange in 2011 and 2012. Based on the result of regression analysis, hypothesis testing results show that the suspect firms conduct real earnings management in all three types of activities more aggressively than the non-suspect firms. Furthermore, this study also showed empirical evidence that there are differences in real earnings management actions between companies listed in the Islamic capital market compared to conventional capital markets. Then, this study also showed that the Islamic capital market is more appropriate in response to the REM than the conventional capital market.

  16. EARNINGS MANAGEMENT, AUDIT QUALITY AND LEGAL ENVIRONMENT: AN INTERNATIONAL COMPARISON

    Directory of Open Access Journals (Sweden)

    Mehmet Unsal Memis

    2012-01-01

    Full Text Available This paper investigates the relationship between earnings management-audit quality and earnings management-legal system quality by using 1507 firms’ observations from listed companies in private firms across different 8 emerging countries. Consistent with previous research, differentiation between Big 4 and non-Big 4 audit firms are used as a audit quality proxy and discretionary accruals are used to measure the earnings management. According to the results, only for Brazilian and Mexican companies, there is significant relationship between the discretionary accruals and audit quality. For the other countries there is not significant relationship. Furthermore efficiency of the legal system helps decrease earnings management incentives. Along with results, the big four auditors do not constrain the earnings management incentives in every emerging country but effective legal system does. In this analysis we used other earnings management related variables like the size of the firms, leverage, lagged ROA of the firms which have loss in the previous year and Tobin Q as control variables.

  17. Social Desirability Bias and Earnings Management around the World

    Directory of Open Access Journals (Sweden)

    Niszczota Paweł

    2015-09-01

    Full Text Available In this paper we test whether inter-country variation in individuals’ tendency to conform, as measured by the Lie (social desirability scale used in the Eysenck Personality Questionnaire, can explain differences in the propensity to employ corporate earnings management around the world. Such a link is feasible, given that survey data suggest executives tend to be under severe pressure to meet earnings benchmarks, to which they often succumb by engaging in earnings management (to the detriment of the company’s long-term prospects. We hypothesize that in countries where the propensity to act in a socially desirable (outsider-satisfying way is stronger, earnings management should be more prevalent. Research results support our hypothesis, and demonstrate the existence of a positive relationship between the prevalence of earnings management in a country and the mean score of individuals from that country on the Eysenck Lie scale, which further evidences that capital market pressure is a significant determinant of earnings management.

  18. Wave fronts may move upstream in semiconductor superlattices

    Science.gov (United States)

    Carpio; Bonilla; Wacker; Scholl

    2000-05-01

    In weakly coupled, current biased, doped semiconductor superlattices, domain walls may move upstream against the flow of electrons. For appropriate doping values, a domain wall separating two electric-field domains moves downstream below a first critical current, it remains stationary between this value and a second critical current, and then moves upstream above. These conclusions are reached by using a comparison principle to analyze a discrete drift-diffusion model, and validated by numerical simulations. Possible experimental realizations are suggested.

  19. Flow preferences of upstream migrating Atlantic salmon (Salmo salar)

    OpenAIRE

    Lindberg, Dan-Erik

    2016-01-01

    On their way from the sea to their spawning grounds in rivers, Atlantic salmon are often delayed or hindered by dams or other obstructions. Building a fishway can save a population that would otherwise go extinct. But even when there is a fishway present, sometimes the fish will have difficulties finding the entrance or navigating through the fishway. Understanding fish preferences during their upstream migration can help us improve fishway design so we can help the fish move upstream. T...

  20. 5 CFR 839.1003 - How will OPM compute the amount of lost earnings?

    Science.gov (United States)

    2010-01-01

    ... ERRONEOUS RETIREMENT COVERAGE CORRECTIONS ACT Lost Earnings for Certain Make-up Contributions to the TSP § 839.1003 How will OPM compute the amount of lost earnings? (a) Lost earnings will generally be computed in accordance with the Board's lost earnings regulations (5 CFR 1606 of chapter VI). However, the...

  1. 26 CFR 2.1-14 - Deposit of earnings and receipts.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Deposit of earnings and receipts. 2.1-14... TAX (CONTINUED) MARITIME CONSTRUCTION RESERVE FUND § 2.1-14 Deposit of earnings and receipts. (a) Earnings. A citizen may deposit all or any part of earnings derived from the operation, within the scope of...

  2. Upstream trophic structure modulates downstream community dynamics via resource subsidies.

    Science.gov (United States)

    Harvey, Eric; Gounand, Isabelle; Little, Chelsea J; Fronhofer, Emanuel A; Altermatt, Florian

    2017-08-01

    In many natural systems, the physical structure of the landscape dictates the flow of resources. Despite mounting evidence that communities' dynamics can be indirectly coupled by reciprocal among ecosystem resource flows, our understanding of how directional resource flows might indirectly link biological communities is limited. We here propose that differences in community structure upstream should lead to different downstream dynamics, even in the absence of dispersal of organisms. We report an experimental test of the effect of upstream community structure on downstream community dynamics in a simplified but highly controlled setting, using protist microcosms. We implemented directional flows of resources, without dispersal, from a standard resource pool into upstream communities of contrasting interaction structure and then to further downstream communities of either one or two trophic levels. Our results demonstrate that different types of species interactions in upstream habitats may lead to different population sizes and levels of biomass in these upstream habitats. This, in turn, leads to varying levels of detritus transfer (dead biomass) to the downstream communities, thus influencing their population densities and trophic interactions in predictable ways. Our results suggest that the structure of species interactions in directionally structured ecosystems can be a key mediator of alterations to downstream habitats. Alterations to upstream habitats can thus cascade down to downstream communities, even without dispersal.

  3. PROFIT: Bayesian profile fitting of galaxy images

    Science.gov (United States)

    Robotham, A. S. G.; Taranu, D. S.; Tobar, R.; Moffett, A.; Driver, S. P.

    2017-04-01

    We present PROFIT, a new code for Bayesian two-dimensional photometric galaxy profile modelling. PROFIT consists of a low-level C++ library (libprofit), accessible via a command-line interface and documented API, along with high-level R (PROFIT) and PYTHON (PyProFit) interfaces (available at github.com/ICRAR/libprofit, github.com/ICRAR/ProFit, and github.com/ICRAR/pyprofit, respectively). R PROFIT is also available pre-built from CRAN; however, this version will be slightly behind the latest GitHub version. libprofit offers fast and accurate two-dimensional integration for a useful number of profiles, including Sérsic, Core-Sérsic, broken-exponential, Ferrer, Moffat, empirical King, point-source, and sky, with a simple mechanism for adding new profiles. We show detailed comparisons between libprofit and GALFIT. libprofit is both faster and more accurate than GALFIT at integrating the ubiquitous Sérsic profile for the most common values of the Sérsic index n (0.5 automated bulge-disc decomposition with PROFIT on SDSS, KiDS, and future LSST imaging. We find that the biggest increases in fit quality come from moving from SDSS- to KiDS-quality data, with less significant gains moving from KiDS to LSST.

  4. Investor reaction to strategic emphasis on earnings numbers: An empirical study

    Directory of Open Access Journals (Sweden)

    M. Shibley Sadique

    2013-10-01

    Full Text Available We analyze the earnings information and stock prices of S&P500 firms and find that investors following S&P500 stocks (i respond more to pro forma earnings than to GAAP earnings, (ii respond to an emphasis on pro forma earnings, and (iii are fixated on pro forma earnings. We provide the first direct evidence that a strategic emphasis on earnings numbers may affect return volatility. Further, our results do not support the argument that a larger investor response to Street earnings might be driven by large differences between the Street numbers and GAAP numbers.

  5. 48 CFR 1615.404-70 - Profit analysis factors.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Profit analysis factors... CONTRACTING BY NEGOTIATION Contract Pricing 1615.404-70 Profit analysis factors. (a) OPM contracting officers..., will likely serve to diminish this profit analysis factor in an overall determination of profit. This...

  6. DETERMINANTS OF BANK PROFITABILITY IN CROATIA

    Directory of Open Access Journals (Sweden)

    Ana Kundid

    2011-02-01

    Full Text Available The research objective of this study is twofold. It aims to provide a synthesis of relevant empirical researches on the determinants of commercial banks’ profitability and to establish empirical verification of profitability determinants of banks in the Republic of Croatia using an econometric method of dynamic panel analysis. The empirical analysis is carried out on a data sample of 28 commercial banks in the period 2003-2008 which continuously refers to more than 95 % of assets of the overall banking intermediation. Return on assets (ROA is profitability indicator used in the analysis. The presented research results and their economic interpretation may serve as a valuable foundation for the general assessment of commercial bank management in Croatia as well as for identifying several sources of potential improvement and impairment of their financial performance in the future. Thus, corrective actions could be planned and implemented in advance.

  7. IMPROVEMENTS IN ACCOUNTING OF BREWERIES’ PROFIT

    Directory of Open Access Journals (Sweden)

    I. Sklyaruk

    2013-11-01

    Full Text Available The peculiarities of formation of the profit of breweries, taking into account the specifics of the production process and business peculiarities were identified. There were found out the specificity of calculation of the expenses, considering the norms of the technological process, the duration of the operating cycle and the specifics of the production of beer and non-alcoholic products, which determine the methodology of formation of the prime price of the products and the price of its sale. The expediency of using the method for phases (with semi-ready and not semi- ready option method of calculation of the semi-finished products of own production there was proved. The irrelevance of using Account 44 “Undistributed profit (uncovered loss” according to its purpose under the current Plan of accounts is shown. The model of using the profit based on the proposed sub-accounts was built and the example of their use was shown.

  8. Faktor-Faktor yang Mempengaruhi Earnings Response Coeficient pada Perusahaan yang Terdaftar di Bursa Efek Jakarta

    OpenAIRE

    Mulyani, Sri; Asyik, Nur Fadjrih; Andayani, Andayani

    2007-01-01

    The objective of this study is to examine factors affect earnings response coefficient consist of earnings persistence, capital structure, systematic risk (beta), earnings growth, and firm size (Scott, 2000). The study added one variable, that is audit quality. Teoh and Wong (1993) argue that audit quality is positively associated with client's quality of earnings and the earnings response coefficient.Samples used in this study are 255 firms listed in the Jakarta Stock Exchange (JSE) from 200...

  9. Democracy and non-profit housing

    DEFF Research Database (Denmark)

    Hansen, Anne Vorre; Langergaard, Luise Li

    2017-01-01

    Resident democracy as a special form of participatory democratic set-up is fundamental in the understanding, and self-understanding, of the non-profit housing sector in Denmark. Through a case study, the paper explores how resident democracy is perceived and narrated between residents and employees...... at a housing association. The study indicates that the meta-story of democracy is disconnected from practice and the lived lives of residents. Three analytical tensions structure the analysis, which relate to the conditions for realizing the democratic ideal embedded in the structure of the sector......, the article discusses conditions for prospective democracy in the Danish non-profit housing sector....

  10. Health and safety in small workplaces: refocusing upstream.

    Science.gov (United States)

    Eakin, Joan M; Champoux, Danièle; MacEachen, Ellen

    2010-01-01

    Small workplaces have particular injury risks and are enduringly difficult for the occupational health and safety (OHS) system to reach. This paper puts forward an "upstream" perspective on OHS in small workplaces that moves beyond the attributes of the workplace and those who work there. The paper draws on and synthesizes ideas and findings from emerging upstream OHS research, our own empirical investigations in Ontario and Quebec, and our collected research experience in small workplace health. Upstream structures and processes (regulations, policies, services, interventions, professional practices) are often misaligned with the conditions of work and social relations of small workplaces. Key upstream factors include regulatory exemption, subcontracting, unionization levels, the changing character of small enterprise, joint management, service and inspection constraints, competing institutional accountabilities, institutional orientation to large business, and inappropriate service and policy. Misalignment of the OHS system with the nature and practical realities of small workplaces can undermine prevention and the management of ill health and injury. To address such misalignments, the paper calls for: 1) restructuring of data collection and consultation processes to increase the visibility, voice and credibility of small workplaces; 2) "audits" of OHS-related legislation, policy and interventions to assess and address implications for small workplaces; 3) reflection on current terms and concepts that render workers invisible and capture poorly the essence and (increasing) diversity of these workplaces; and 4) extension of the upstream gaze to the global level.

  11. Clustering in large networks does not promote upstream reciprocity.

    Directory of Open Access Journals (Sweden)

    Naoki Masuda

    Full Text Available Upstream reciprocity (also called generalized reciprocity is a putative mechanism for cooperation in social dilemma situations with which players help others when they are helped by somebody else. It is a type of indirect reciprocity. Although upstream reciprocity is often observed in experiments, most theories suggest that it is operative only when players form short cycles such as triangles, implying a small population size, or when it is combined with other mechanisms that promote cooperation on their own. An expectation is that real social networks, which are known to be full of triangles and other short cycles, may accommodate upstream reciprocity. In this study, I extend the upstream reciprocity game proposed for a directed cycle by Boyd and Richerson to the case of general networks. The model is not evolutionary and concerns the conditions under which the unanimity of cooperative players is a Nash equilibrium. I show that an abundance of triangles or other short cycles in a network does little to promote upstream reciprocity. Cooperation is less likely for a larger population size even if triangles are abundant in the network. In addition, in contrast to the results for evolutionary social dilemma games on networks, scale-free networks lead to less cooperation than networks with a homogeneous degree distribution.

  12. Management trends: Internationalization of non-profit organizations

    Directory of Open Access Journals (Sweden)

    Inić Branimir P.

    2015-01-01

    Full Text Available Non-profit organizations are increasingly gaining importance in the modern economy with their development and their numbers increasing day by day. It is very important to note that non-profit organizations are often subject to various benefits that the for-profit companies are not. Thus, for example, preferential tax status of non-profit organizations is manifested primarily in the form of exemption from corporate income tax. In addition, private non-profit organizations enjoy various other state, local and federal taxes exemptions. Under certain conditions, these organizations are exempt from taxes on donations and membership fees. A feature that differentiates various non-profit organizations and profit-oriented companies is their source of income. Profit oriented companies depend on their income, obtained from sales of their goods or services to customers, who usually cover the price and cost of goods and services plus the profit. In contrast, nonprofit organizations are very dependent on membership fees, tax exemptions, members donations or depend on funds of the sponsoring agency which covers most of their costs, for example a federal government agency. Those non-profit organizations that have substantial operating costs beyond national borders and do not identify themselves as purely domestic in their mandate are International non-profit organizations. Most non-profit organizations remain in their national boundaries, on the territory of the country in which they were created, but a large number of non-profit organizations rapidly internationalize, and some larger non-profits have grown into important global actors. The paper includes the following sections: (1 introduction, (2 why is the 'non-profit' important, (3 the internationalization of non-profit organizations, (4 sources of income of non-profit organizations (4.1. causality of impact and of strategic decisions in cases pertaining to universities, (5 the limits of strategic

  13. 48 CFR 415.404-4 - Profit.

    Science.gov (United States)

    2010-10-01

    ...) Termination settlements; and (v) Cost-plus-award-fee contracts; (b) Unless otherwise restricted by contracting... CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 415.404-4 Profit. (a)(1) USDA will use a... negotiation is based on cost analysis. (2) The following types of acquisitions are exempt from the...

  14. 48 CFR 215.404-4 - Profit.

    Science.gov (United States)

    2010-10-01

    ... prenegotiation profit or fee objective on any negotiated contract action when cost or pricing data is obtained, except for cost-plus-award-fee contracts (see 215.404-74, 216.405-2, and FAR 16.405-2) or contracts with... DEFENSE CONTRACTING METHODS AND CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 215.404-4...

  15. 262 257 Profitability Analysis of Three Met

    African Journals Online (AJOL)

    2008-12-02

    Dec 2, 2008 ... Profitability Analysis of Three Methods of Suya Production and Marketing in. Maiduguri metropolitan Council, Borno State, ... N 1.25:1 and N 1.1:1 for Kilishi, Tsire and Balangu production and marketing enterprises, respectively. The marketing ... packaging and retailing. It is retailed to consumers in cement ...

  16. Profitability analysis and management practices among poultry ...

    African Journals Online (AJOL)

    Profitability analysis and management practices among poultry farmers in Yola metropolis of Adamawa state, Nigeria. ... Global Journal of Agricultural Sciences ... The major constraints includes: high input costs, unstable market, power supply, diseases, loans, government assistance and to lack of poultry management ...

  17. Profitability of Qualified-Labour-Power Production

    Science.gov (United States)

    Baldino, Roberto Ribeiro; Cabral, Tânia Cristina Baptista

    2015-01-01

    In Baldino and Cabral (2013) we introduced the concept of qualified labour-power as the commodity produced by the school system. In the present article we outline a quantitative model to evaluate the profit rate of educational programmes. We compare a medical school programme with a teacher education programme at a public university in Brazil,…

  18. EPA for Businesses and Non-Profits

    Science.gov (United States)

    Information and links to EPA web pages that are meant to help businesses and non-profits adhere to EPA regulations and otherwise protect the environment, take advantage of opportunities to collaborate with the EPA, and find training EPA training programs.

  19. Continuous sawmill studies: protocols, practices, and profits

    Science.gov (United States)

    Robert Mayer; Jan Wiedenbeck

    2005-01-01

    In today's global economy, the "opportunity cost" associated with suboptimal utilization of raw material and mill resources is significant. As a result, understanding the profit potential associated with different types of logs is critically important for sawmill survival. The conventional sawmill study typically has been conducted on a substantially...

  20. How to Generate Good Profit Maximization Problems

    Science.gov (United States)

    Davis, Lewis

    2014-01-01

    In this article, the author considers the merits of two classes of profit maximization problems: those involving perfectly competitive firms with quadratic and cubic cost functions. While relatively easy to develop and solve, problems based on quadratic cost functions are too simple to address a number of important issues, such as the use of…

  1. THE PERFORMANCE AND PROFITABILITY OF SWEET POTATO ...

    African Journals Online (AJOL)

    propagule length and cattle dung application rates on the growth, yield and profitability of sweet potato. (Ipomea batatas L.) in a humid Ultisols. ... this permits the growing of two or three crop cycles in a year. This crop is usually produced ...... vegetative growth as evidenced by number of leaves, vines, shorter internodes and ...

  2. Data Sparseness and Variance in Accounting Profitability

    NARCIS (Netherlands)

    S. Stavropoulos (Spyridon); M.J. Burger (Martijn); D. Skuras (Dimitris)

    2015-01-01

    markdownabstract__Abstract__ A central question in strategic management is why some firms perform better than others. One approach to addressing this question empirically is to decompose the variance in firm-level profitability into firm, industry, location, and year components. Although it is

  3. Cooperation and profit allocation in distribution chains

    NARCIS (Netherlands)

    Guardiola, L.A.; Meca, A.; Timmer, Judith B.

    2005-01-01

    We study the coordination of actions and the allocation of profit in distribution chains under decentralized control. We consider distribution chains in which a single supplier supplies goods for replenishment of stocks of several retailers who, in turn, sell these goods to their own separate

  4. Profitability Analysis of Groundnuts Processing in Maiduguri ...

    African Journals Online (AJOL)

    This paper examines the profitability of groundnuts processing in Maiduguri Metropolitan Council of Borno State. The specific objectives of the study were to examine the socioeconomic characteristics of groundnut processors, estimate the costs and returns in groundnut processing and determine the return on investment in ...

  5. Earnings Quality and Investment Efficiency: Evidence from Eastern Europe

    Directory of Open Access Journals (Sweden)

    Cherkasova Victoria

    2017-12-01

    Full Text Available This study explores the firm-level relationship between earnings quality and investment efficiency. Higher quality of reported results has the capacity to positively impact the efficiency of company’s investment levels by over- and underinvestment reduction. The research is carried out on the sample of 7546 companies from Eastern Europe for the period 2010-2015. Eastern European countries have a unique institutional and business environment that is relevant to the purpose of this paper. We divide the sample into 2 fundamentally different economic sectors - industrial and retail - and test the significance of each factor in the main relationship. We also examine the factor of the firm’s ownership form by comparing earnings quality with investment efficiency values between public and private companies. Our main results show that a higher earnings quality mitigates both overinvestment and underinvestment issues. The relationship between earnings quality and underinvestment turns out to be stronger in the industrial sector. As for the comparison of public and private firms, public companies on average demonstrate a higher earnings quality and lower overinvestment issues.

  6. Earning management: analysis of publications in brazilian accounting journals

    Directory of Open Access Journals (Sweden)

    Débora Gomes Machado

    2014-06-01

    Full Text Available The goal of this study is to identify characteristics, from the perspective of social networks, of the scientific literature on earning management in Brazilian accounting journals. Specifically, were identified: a authors and their social networks of scientific production; b researched topics, models for accruals detection, authors’ networks and the period studied; c methodological procedures used. A bibliometric survey, with a quantitative approach was performed through the analysis of 17 Brazilian accounting journals, since their first edition until the year 2010. Out of them, 10 published articles having the theme earning management in the title, abstract or keywords. The 32 identified articles were submitted to content analysis and then the data were presented from the perspective of social networks. The survey results show that: the authors and their social networks of production originates mostly from Universidade de São Paulo (USP; the most researched theme was the methods or means to conduct earnings management, and accruals measurement models, with emphasis on Kang and Sivaramakrishnan Model; the descriptive research, based on document and quantitative approach were the most commonly used forms in the articles researched. It is noteworthy that structural gaps are the topics, such as compensation plans, political costs and earnings management in different contractual environments. The research results can contribute to academia to highlight some features of the earnings management theme and its researchers, in the field of publications in Brazilian accounting journals.

  7. A Decomposition of Hospital Profitability: An Application of DuPont Analysis to the US Market.

    Science.gov (United States)

    Turner, Jason; Broom, Kevin; Elliott, Michael; Lee, Jen-Fu

    2015-01-01

    This paper evaluates the drivers of profitability for a large sample of U.S. hospitals. Following a methodology frequently used by financial analysts, we use a DuPont analysis as a framework to evaluate the quality of earnings. By decomposing returns on equity (ROE) into profit margin, total asset turnover, and capital structure, the DuPont analysis reveals what drives overall profitability. Profit margin, the efficiency with which services are rendered (total asset turnover), and capital structure is calculated for 3,255 U.S. hospitals between 2007 and 2012 using data from the Centers for Medicare & Medicaid Services' Healthcare Cost Report Information System (CMS Form 2552). The sample is then stratified by ownership, size, system affiliation, teaching status, critical access designation, and urban or non-urban location. Those hospital characteristics and interaction terms are then regressed (OLS) against the ROE and the respective DuPont components. Sensitivity to regression methodology is also investigated using a seemingly unrelated regression. When the sample is stratified by hospital characteristics, the results indicate investor-owned hospitals have higher profit margins, higher efficiency, and are substantially more leveraged. Hospitals in systems are found to have higher ROE, margins, and efficiency but are associated with less leverage. In addition, a number of important and significant interactions between teaching status, ownership, location, critical access designation, and inclusion in a system are documented. Many of the significant relationships, most notably not-for-profit ownership, lose significance or are predominately associated with one interaction effect when interaction terms are introduced as explanatory variables. Results are not sensitive to the alternative methodology. The results of the DuPont analysis suggest that although there appears to be convergence in the behavior of NFP and IO hospitals, significant financial differences remain

  8. The relationship between the Balanced Budget Act (BBA) and hospital profitability.

    Science.gov (United States)

    Younis, Mustafa Z

    2006-01-01

    The Balanced Budget Act of 1997 (BBA) reduced the payment for fees for service providers and reduced the subsidy paid by the government for teaching hospitals. Since the passage of such cost containment measures, debates regarding their impact on hospitals, graduate medical education, and access to health care were raised. The need to examine the effect of such payment reduction on hospital profitability was widely ignored. We examined the relationship between the BBA and hospital profitability by using return on assets to measure profitability, by running an ordinary least squares regression for 1996 as pre-BBA and 1999 as post-BBA. We controlled for variables that were not included in previous literature, such as disproportionate share hospital status, critical access hospital status, and graduate medical education, measured by teaching hospitals to measure the effect of BBA cuts on teaching hospitals. Furthermore we incorporated several economic, financial, and utilization variables in the model. We used 1996 and 1999 data in our analysis to bridge potential effects of the BBA. To locate hospitals that changed ownership status we cross-matched the Medicare Cost Report data with the American Hospital Association Annual Survey. We found that overall hospital profitability declined as a result of the introduction of the BBA; however, small rural hospitals that converted to critical access status enjoyed improvement in financial status over the period of our study. Hospitals that converted to for-profit status did not improve in financial status, and showed a lower earning after the conversation. Our results show that the BBA had a negative effect on hospitals because of cuts in its reimbursement policy, except for critical access hospitals, which show improvement because of their exemption from the prospective payment system. Our study differs from others by using national comprehensive data for years that focus exclusively on the Balanced Budget Act period. We

  9. Human Resource Local Content in Ghana's Upstream Petroleum Industry

    Science.gov (United States)

    Benin, Papa

    Enactment of Ghana's Petroleum (Local Content and Local Participation) Regulations, 2013 (L.I. 2204) was intended to regulate the percentage of local products, personnel, financing, and goods and services rendered within Ghana's upstream petroleum industry value chain. Five years after the inception of Ghana's upstream oil and gas industry, a gap is evident between the requirements of L.I. 2204 and professional practice. Drawing on Lewin's change theory, a cross-sectional study was conducted to examine the extent of differences between the prevailing human resource local content and the requirements of L.I. 2204 in Ghana's upstream petroleum industry. The extent to which training acquired by indigenous Ghanaians seeking jobs in Ghana's oil fields affects the prevalent local content in its upstream petroleum industry was also examined. Survey data were collected from 97 management, technical, and other staff in 2 multinational petroleum companies whose oil and gas development plans have been approved by the Petroleum Commission of Ghana. To answer the research questions and test their hypotheses, one-way ANOVA was performed with staff category (management, technical, and other) as the independent variable and prevalent local content as the dependent variable. Results indicated that prevailing local content in Ghana's upstream petroleum industry meets the requirements of L.I. 2204. Further, training acquired by indigenous Ghanaians seeking jobs in Ghana's oil fields affects the prevalent local content in its offshore petroleum industry. Findings may encourage leaders within multinational oil companies and the Petroleum Commission of Ghana to organize educational seminars that equip indigenous Ghanaians with specialized skills for working in Ghana's upstream petroleum industry.

  10. Exploring Social Learning through Upstream Engagement in Science and Technology

    DEFF Research Database (Denmark)

    Mortensen, Jonas Egmose

    This discussion paper deliberates on how the concept of social learning can be used for evaluating upstream engagement initiatives in science and technology.  The paper briefly introduces to the concept of upstream engagement and a concrete case, the UK Citizen Science for Sustainability project...... (SuScit), as an outset for discussing how the concept of social learning can be used for analysing and understanding relations between citizen participation, Science and research, and sustainability. A number of relevant research questions and methodological considerations are distilled...

  11. Earnings, Uncertainty, and the Self-Employment Choice

    DEFF Research Database (Denmark)

    Le Maire, Daniel; Schjerning, Bertel

    2007-01-01

    This paper investigates the relationship between self-employment choice, expected earnings, and uncertainty. Several interesting results emerge from our analysis on Danish longitudinal register data: Firstly, self-employed (taxable) personal income bunch at kink points in the tax system since self......-employed can retain earnings and thereby transfer income across tax-years. Secondly, expected income level and income variance are important determinants in choice of occupation. Thirdly, men put more emphasis on expected earnings level, while women appears more risk averse, which contribute to explain why...... fewer women are self-employed. Finally, our results suggest that non-western immigrants are marginalized into self-employment. Occupational choice, self-employment, wage-di¤erentials, income uncertainty, risk aversion, overcon…dence, self-selection, gender di¤erences.  ...

  12. Earnings and Job Satisfaction of Employed Spanish Doctoral Graduates

    Directory of Open Access Journals (Sweden)

    Juan Francisco Canal Domínguez

    2013-01-01

    Full Text Available The increasing demand for highly qualifi ed workers in developed countries has raised a new interest in analysing whether doctoral training meets the needs of the European labour market. Job satisfaction enables an approach to both the relationship between training and job position and to a company?s successful management of its relationship with those workers who are PhD holders. The results indicate that an analysis based on earnings is relevant, as it makes it possible to identify two clear job satisfaction behaviours: on the one hand, as earnings increase, so does job satisfaction, although this is found to a lesser extent in the higher earnings range; on the other hand, when moving up in the salary range, the relative assessment of job satisfaction components changes, as well as their signifi cance in explaining the variations in job satisfaction.

  13. Alternative profit rate shariah-compliant for islamic banking

    Science.gov (United States)

    Gazali, Nadhirah; Halim, Nurfadhlina Abdul; Ghazali, Puspa Liza

    2017-09-01

    Profit is the aims for Islamic banking and conventional banking. Determination of profit in Islamic banking in Malaysia depends on the profit rate, whereas profit rate is essentially from reference rate which is known as the base rate (BR). However, the determination of the components contained in the BR such as benchmark cost of funds and the statutory reserve requirement (SRR) is non-compliance with the Shariah because its directly proportional to the overnight policy rate (OPR). Therefore, an alternative formula for the profit rate are proposed which is known as the base profit rate (BPR). Construction of BPR formula is based on the principle that are more Shariah-compliant.

  14. Banking system reform, earnings quality and credit allocation

    Directory of Open Access Journals (Sweden)

    Xiuli Zhu

    2012-09-01

    Full Text Available This paper investigates credit allocation before and after the 2003 banking system reform in China. We find that relationships between earnings quality and new short-term loans, long-term loans and total loans in listed companies changed significantly after the banking system reform, especially in state-owned listed companies. Further investigation shows that due to the influence of rent-seeking, banks have eased the earnings requirements of non-state-owned listed companies. These findings enhance our understanding of the economic consequences of the banking system reform and of credit discrimination under the new regime.

  15. Earnings among young and mature Danish university graduates

    DEFF Research Database (Denmark)

    Klausen, Trond Beldo

    2016-01-01

    This paper studies the association between graduation age and earnings among university graduates in Denmark, which is a country with one of the oldest student populations in the world. Exploiting a rich data-set from administrative registers, the current study is able to track labour market career...... for a longer period of time and to control for more labour market-relevant variables than any previous study of graduation age and earnings. The results show that graduation age has either a slightly positive or an insignificant impact on starting wages within the public sector or a negative impact on starting...

  16. The earnings of U.S. health economists.

    Science.gov (United States)

    Cawley, John; Morrisey, Michael A

    2007-03-01

    This paper presents data from a 2005 survey of health economists who were U.S. members of the International Health Economics Association or the Health Economics Special Interest Group of Academy Health. We present summary statistics of health economist earnings by rank and type of employer, estimate log earnings models as a function of education, experience, type of employer, and research productivity, and provide summary statistics of starting salaries expected to be offered to new Ph.D. health economists by type of employer. Our findings are compared to those for economics departments, business schools, schools of public health, and for health services researchers.

  17. Earnings management: estudo de caso do Banco Nacional Earnings management: Central Bank's case study

    Directory of Open Access Journals (Sweden)

    César Medeiros Cupertino

    2006-08-01

    Full Text Available Este artigo promove um estudo de caso de uma das maiores instituições financeiras brasileiras da década de 90: o Banco Nacional S.A. (BNSA. O BNSA teve sua intervenção decretada pelo Banco Central do Brasil em 1995, após ser identificada a existência de ativos insolventes, originados por gerenciamento fraudulento dos lucros da entidade. O estudo visa investigar a gestão fraudulenta de lucros do Banco Nacional S.A., tanto nos seus aspectos motivadores, quanto em relação aos seus efeitos na composição patrimonial da entidade. A abordagem metodológica contempla: (i pesquisa explicativa, quanto aos objetivos do estudo; (ii estudo de caso, quanto aos procedimentos aplicados e (iii pesquisa qualitativa, quanto à abordagem do problema. Constatou-se que pode haver interesses inconciliáveis entre o agente e o principal, conforme disciplinado pela teoria da agência. O artigo, ainda, ressalta a importância do conhecimento dos dados financeiros na identificação dos fatos de interesse, dos ajustes pertinentes e da correta evidenciação da situação patrimonial da entidade.This paper features a case study of one of the main Brazilian banks of the 90's: Banco Nacional S/A (BNSA. The bank had its intervention decreed by Central Bank of Brazil in 1995, after the existence of insolvent assets, originated by fraudulent earnings management, were identified. The study aims to investigate the fraudulent earnings management of BNSA, both in motivational aspects and in relation of the effects in its balance sheet structure. The methodological approach of the study encompasses: (i an explanatory research, regarding the intended aim of the study; (ii case study, regarding the applied procedures; and (iii a qualitative research, regarding the approach to the problem. It was concluded that irreconcilable conflicts of interest might occur between the agent and the principal, according to the Agency Theory. The paper also emphasizes the importance of

  18. Characterization of upstream sequences from the 8S globulin gene ...

    African Journals Online (AJOL)

    Seeds rich in protein in nature, are ideal bioreactors for economic production and storage of valueadded recombinant proteins and enzymes for industries. The upstream region of the seed storage protein gene is able to provide an attractive promoter for seed-specific expression of heterologous genes. Our previous ...

  19. Laser Doppler velocity measurements of swirling flows with upstream influence

    Science.gov (United States)

    Rloff, K. L.; Bossel, H. H.

    1973-01-01

    Swirling flow in a rotating tube is studied by flow visualization at a moderate Reynolds number, and its velocity field is measured by laser-Doppler anemometry. The tube has constant diameter, and approximately uniform initial rigid rotation of the flow is assured by passing the flow through a rotating plug of porous metal before it enters the test section. At moderate swirl values, an object mounted on the tube centerline causes a closed bubble to form upstream of the obstacle, with a clearly defined stagnation point on the axis, and recirculating flow inside the bubble. The bubble length grows upstream as the swirl is increased, until it breaks up into a Taylor column reaching all the way upstream and downstream at swirl values above a certain critical value. A vortex jump (in the sense of Benjamin) occurs downstream of the obstacle except when the Taylor column is present. Using a laser-Doppler anemometer, axial and swirl velocity profiles are obtained at several stations upstream and downstream of the bubble, and in and around the bubble.

  20. Characterization of groundwater in the Souss upstream basin ...

    African Journals Online (AJOL)

    The hydrochemistry of major ions and environmental isotope compositions (18O, 2H) of water samples have been used to identify the chemical characteristics and the origin of groundwater in the Souss upstream basin. The total dissolved solids (TDS) did not exceed 1000 mg.L-1 with an average of 635 mg.L-1.

  1. The Commercial Profitability of Growing Hybrid Eucalyptus Clones in The Coast Province, Kenya

    Directory of Open Access Journals (Sweden)

    Balozi Bekuta Kirongo

    2014-04-01

    Full Text Available Due to the current high demand for timber, fuelwood, and building poles and the realization that tree growing may pay dividends in the short and long term, many farmers are planting trees on their farms. Farmers are increasingly planting eucalyptus partly due to the fast growth rates of the hybrid clones as well as the opportunity to earn money within a short time. In this paper we report on the profitability of growing eucalyptus hybrid clones in the coastal region, Kenya. Tree growth and cost data was sourced from farmers in Malindi, Kilifi, and Msambweni. Market information was sourced from hardwares in North and South Coast while tree growth models were used to provide average tree sizes at various ages. Results showed that a farmer could make a net income of upto Kshs.500,000.00 (USD6,250 in 5 years. Farmers in the South Coast (Kwale and Msambweni spent more on transport than their counterparts in the North Coast (near Gede-KEFRI. This, added to the fact that trees in the South Coast (Msambweni grew less compared to those in North Coast meant that farmers in the south made less profits.

  2. Profitability and Efficiency of Red Onion Farming

    Directory of Open Access Journals (Sweden)

    Imron Rosyadi

    2014-12-01

    Full Text Available The purpose of this research is to determine and analyze the profitability and performance of onion farming marketing margins; analyze and know the parts of prices received by farmers and analyze the efficiency of onion farming in the district of Brebes. Samples taken in this study is 30 onion farmers in the district of Brebes, who settled in six villages, each village was taken 5 farmers as the research sample. These results indicate that the location of onion farming research does not provide benefits significantly to the household economy of farmers. Higher selling prices at the retail level and supermarkets do not have a significant impact on the level of profits of farming in the study area. Farming is done by farmers in the study area is inefficient. Onion marketing chain in the study area is relatively long, which consists of 4 lines of marketing.

  3. Competition and Profitability in European Financial Services

    DEFF Research Database (Denmark)

    Balling, Morten; Lierman, F.; Mullineux, A.

    Financial services firms play a key role in the European economy. The efficiency and profitability of these firms and the competition among them have an impact on allocation of savings, financing of investment, economic growth, the stability of the financial system and the transmission of monetary...... policy. This collection of research contributions includes evaluations of trends in the European financial service industry and examinations of the driving forces of efficiency, competition and profitability of financial firms and institutions in Europe. The papers have been written by leading academics...... and researchers in the field, who specialize in strategic, systematic and policy issues related to the European financial services industry. This edited collection will be will be essential reading for students and academics but will also be of interest to financial practitioners and government officials...

  4. Competition for FDI and Profit Shifting

    DEFF Research Database (Denmark)

    Ma, Jie; Raimondos-Møller, Pascalis

    When countries compete for the location of a new multinational plant they need to be aware of the profit shifting opportunities this new plant creates for the global multinational firm. By modelling explicitly the multinational’s intra-firm transactions, we show that the home market advantage tha...... easily win the location game ahead of a large country. How lenient the small country is in implementing transfer pricing regulations turns out to be an important variable in such location games....

  5. Profitability and Efficiency of Red Onion Farming

    OpenAIRE

    Rosyadi, Imron; Purnomo, Didit

    2014-01-01

    The purpose of this research is to determine and analyze the profitability and performance of onion farming marketing margins; analyze and know the parts of prices received by farmers and analyze the efficiency of onion farming in the district of Brebes. Samples taken in this study is 30 onion farmers in the district of Brebes, who settled in six villages, each village was taken 5 farmers as the research sample. These results indicate that the location of onion farming research does not provi...

  6. Base Erosion, Profit Shifting and Developing Countries

    OpenAIRE

    Ernesto Crivelli; De Mooij, Ruud A.; Michael Keen

    2015-01-01

    International corporate tax issues are prominent in public debate, notably with the G20-OECD project addressing Base Erosion and Profit Shifting (‘BEPS’). But while there is considerable empirical evidence for advanced countries on the cross-country fiscal externalities at the heart of these issues, there is almost none for developing countries. This paper uses panel data for 173 countries over 33 years to explore their magnitude and nature, focusing particularly on developing countries a...

  7. Determinants of Bank Profitability in Nigeria

    OpenAIRE

    Osuagwu, Eze

    2014-01-01

    There are increasing scholarly debates on the direction of policy to effectively improve the performance of banks. Some scholars argue that bank performance is enhanced by improvements in the internal organization and managerial efficiency, others argue that industry wide factors are integral to bank performance. In recent times, the direction of literature has shown that macroeconomic factors play a significant role in determining bank profitability. This paper investigates the determinants ...

  8. Business strategies, profitability and efficiency of production

    OpenAIRE

    S. Alarcón; M. Sánchez

    2013-01-01

    The strategy choices of market-oriented companies are a topic now under wide investigation in the analysis of business performance antecedents. The purpose of this study is to examine the outcomes of the combination of three different organizational strategies (market orientation, innovativeness and entrepreneurial orientation) on business performance indicators. Models using profitability and efficiency indicators are proposed with the specific aim of obtaining a deeper analysis of the relat...

  9. Profitability of Management Systems on German Fenlands

    Directory of Open Access Journals (Sweden)

    Marco Rebhann

    2016-10-01

    Full Text Available Fens are organic sites that require drainage for agricultural use. Lowering the groundwater level leads to trade-offs between economic benefits and environmental impacts (i.e., CO2 and nutrient emissions. To identify management options that are both environmentally and economically sustainable, a propaedeutic systematic analysis of the costs, income and profit of different land use and management systems on fenlands is necessary. This study provides an overview of the profitability, labor demand and comparative advantages of feasible management systems on German fenlands. Twenty management practices in four land use systems are analyzed. The results indicate that most management systems are profitable only with subsidies and payments for ecosystem services. In addition to sales revenue, these payments are indispensable to promote peat-saving agricultural practices on fenlands. Regarding the labor aspect, intensive management systems caused an increase in working hours per hectare, which may positively affect employment in rural areas. The calculations obtained in this study can be used as a basis for estimations of greenhouse gas (GHG mitigation costs when management systems are associated with GHG emission values.

  10. Stem cell industry update: 2012 to 2016 reveals accelerated investment, but market capitalization and earnings lag.

    Science.gov (United States)

    Ng, Mitchell; Song, Simon; Piuzzi, Nicolas S; Ng, Kenneth; Gwam, Chukwuweike; Mont, Michael A; Muschler, George F

    2017-10-01

    Treatments based on stem cells have long been heralded for their potential to drive the future of regenerative medicine and have inspired increasing medical and business interest. The stem cell therapy market has been expanding since 2012, but earnings and profitability still lag the broader health care sector (compounded annual growth rate in annual financing of 31.5% versus 13.4%, respectively). On the basis of historical financial data, approximately $23 billion has been invested in stem cell companies since 1994, with more than 80% of this raised from 2011 through 2016. This reflects a marked acceleration in capital investment, as companies began late-stage clinical trials, initiate partnerships or are acquired by large pharmaceutical companies. All of these data reflect a field that is emerging from infancy, which will demand more time and capital to mature. This update is relevant to researchers, clinicians and investors who wish to quantify the potential in this field. Copyright © 2017 International Society for Cellular Therapy. Published by Elsevier Inc. All rights reserved.

  11. Pengumuman Dividen Reguler terhadap Future Unexpected Earnings: Suatu Penelitian Empiris di Bursa Efek Jakarta

    Directory of Open Access Journals (Sweden)

    Dedi Herdiansyah

    2009-08-01

    Full Text Available Hasil-hasil penelitian terdahulu tentang apakah dividen mengandung informasi yang berguna bagi pasar masih saling bertentangan. Hasil penelitian Natts (1973, 1976, Ang (1975 dan Gonedes (1978 tidak menemukan bukti bahwa pengumuman dividen mengandung informasi. Sedangkan hasil penelitian terbaru yang dilakukan Laub (1976, Charest (1978, Aharony dan Swary (1980, Woolridge (1982, Asquith dan Mullins (1988, Venkantesh dan Chiang (1986. Healy dan Seifert (1992, dan Mande (1994 mendukung bahwa pengumuman dividen mengandung informasiPenelitian ini merupakan replikasi dari dari model penelitian yang dilakukan oleh Aharony dan Dotan (1994. Penelitian ini mencoba untuk mempertegas konfirmasi dari observasi-observasi yang mengungkapkan bahwa peningkatan (penurunan harga saham. Populasi penelitian ini adalah seluruh perusahaan yang terdaftar di Bursa Efek Jakarta (BEJ dengan periode pengumuman dividen tahun 1992 – 1995. Pemilihan periode tersebut dilakukan sebelum Indonesia mengalami krisis untuk menghindari bias karena selama krisis banyak saham yang menjadi kurang atraktif Hasil penelitian ini menunjukkan bahwa pengumuman perubahan dividen tidak berpengaruh secra signifikan terhadap peningkatan (penurunan keuntungan perusahaan. Hasil penelitian juga memberikan indikasi bahwa pengumuman dividen tidak memiliki kandungan informasi ke pasar. Peningkatan (penurunan dividen lebih disebabkan keuntungan perusahaan pada periode yang sama dengan dilakukannya pengumuman dividen. Hal ini mengindikasikan bahwa peningkatan (penurunan dividen tidak menggambarkan peluang profitable perusahaan di waktu yang akan datang.      Kata kunci: unexpected dividen change, future unexpected earnings, and information content of dividend.  

  12. Profit-Sharing – A Tool for Improving Productivity, Profitability and Competitiveness of Firms?

    Directory of Open Access Journals (Sweden)

    Fibirova Jana

    2013-12-01

    Full Text Available The importance of appropriate utilization of rewards for performance is still growing and therefore this type of rewards can be seen as a significant part of a total rewards package. Companies that are able to appropriately implement rewards for performance may gain competitive advantage over their competitors, but successful implementation requires a good knowledge of these rewards. The main aim of this paper is to contribute to the growth of this knowledge by identifying possible positive and negative impacts of profit-sharing on various areas that are important for the performance of a company, nevertheless, addressed are also macroeconomic consequences of profit-sharing. Furthermore, a comprehensive and up-to-date review of the relevant literature is provided, under-researched areas are identified and suggestions for further research are given. To accomplish these goals, we applied methods of bibliometric analysis to the articles indexed in ISI Web of Knowledge to identify the most important articles, authors and topics. According to our findings, the majority of studies report a neutral or positive impact of profit-sharing on productivity and profitability. This impact may be achieved by direct influence of profit-sharing on productivity of employees (due to the dependence of their pay on profit, but it seems that yet more important are various mediating mechanisms, especially effects on employment stability, absenteeism, quits and related issues, as well as effects on attitudes of employees and on relationships between employees. We argue that a well-designed profit-sharing plan is crucial for its success, but it is a relatively under-researched problem.

  13. Do Managers Manipulate Earnings Prior to Management Buyouts?

    NARCIS (Netherlands)

    Mao, Y.; Renneboog, L.D.R.

    2013-01-01

    Abstract: To address the question as to whether managers manipulate accounting numbers downwards prior to management buyouts (MBOs), we implement an industry-adjusted buyout-specific approach and receive an affirmative answer. In UK buyout companies, negative earnings manipulation (understating the

  14. Evaluation of Building Projects Using Earned Value Technique ...

    African Journals Online (AJOL)

    This study evaluates building construction projects using the Earned Value Analysis technique, the Experimental Approach, and Value Concept Analysis. The aim was to compare the cost incurred for an identified amount of work done on a project with the cost budgeted for the same work. The results were used to calculate ...

  15. A Price Earnings Index for the Danish Stock Market

    DEFF Research Database (Denmark)

    Risager, Ole

    2004-01-01

    Price-earnings ratios are part of the toolkit that is used for assessing the valuation ofindividual firms on the stock market as well as the entire market itself. This paperpresents consistent P/E series for the liquid Danish shares adjusted for share buybacks.The results show that over the period...

  16. Language Fluency and Earnings : Estimation with Misclassified Language Indicators

    NARCIS (Netherlands)

    Dustmann, C.; van Soest, A.H.O.

    1998-01-01

    We use panel data from the German Socio Economic Panel to estimate the determinants of language fluency of immigrants, and its impact on earnings. Self reported measures of language proficiency contain substantial reporting errors. We specify a panel data model which takes explicitly account of

  17. Optimal Taxation of Human Capital and the Earnings Function

    NARCIS (Netherlands)

    B. Jacobs (Bas); A.L. Bovenberg (Lans)

    2008-01-01

    textabstractThis paper explores how the specification of the earnings function impacts the optimal tax treatment of human capital. If education is complementary to labor effort, education should be subsidized to offset tax distortions on labor supply. However, if most of the education is enjoyed by

  18. Psychology Baccalaureates at Work: Major Area Subspecializations, Earnings, and Occupations

    Science.gov (United States)

    Rajecki, D. W.

    2012-01-01

    A Census Bureau national survey identified baccalaureates aged up to 64 years having major area subspecializations labeled "psychology," "industrial/organizational (I/O) psychology," and "counseling psychology." Median 2009 earnings of all such types of baccalaureate psychology alumni were well below the distribution mean of the 153 fields in the…

  19. Job Search Methods: Consequences for Gender-based Earnings Inequality.

    Science.gov (United States)

    Huffman, Matt L.; Torres, Lisa

    2001-01-01

    Data from adults in Atlanta, Boston, and Los Angeles (n=1,942) who searched for work using formal (ads, agencies) or informal (networks) methods indicated that type of method used did not contribute to the gender gap in earnings. Results do not support formal job search as a way to reduce gender inequality. (Contains 55 references.) (SK)

  20. The investigation of limiting factors of earnings management for ...

    African Journals Online (AJOL)

    The current study was to examine the limiting factors of earnings management for companies' listed Tehran stock exchange. The study was a kind of applied, descriptive- correlative research. All listed companies in Tehran stock exchange were selected as statistical population during 2009 to 2013. So, data was gathered by ...

  1. Earnings of Kansas State University Agriculture Graduates: 1978–88

    OpenAIRE

    Barkley, Andrew P.

    1992-01-01

    Survey data were utilized to identify salary determinants of agriculture graduates at Kansas State University. Findings include a secular decline in real annual starting salaries for Bachelor of Science degree holders. Salary determinants include major field, double major, job location, type of occupation, grade point average, sex, marital status, and highest degree earned. Implications for teaching, advising, and curricula change are discussed.

  2. The Impact of Overeducation on Earnings in China

    Science.gov (United States)

    Xiangrong, Wu

    2008-01-01

    The paper estimates the returns to overeducation by the Over-Required and Undereducation (ORU) model. The estimated results indicate that the returns to overeducation are positive, but lower than the returns to required education, which suggests that while overeducated employees' earnings are diminished, they still can benefit from it. The paper…

  3. Gender gap in earnings at the industry level

    NARCIS (Netherlands)

    Allen, J; Sanders, K

    In this article the authors seek an answer to the question: does the percentage of women working in an industry have an effect on earnings distinct from the effect of sex at the individual level? On the basis of the 'comparable worth' approach, the authors hypothesized that, controlling for

  4. Audit firm rotation, audit firm tenure and earnings conservatism

    NARCIS (Netherlands)

    Kramer, S.T.; Georgakopoulos, G.; Sotiropoulos, I.; Vasileiou, K.Z.

    2011-01-01

    This study aims to contribute to the debate around the possibility of mandating audit firm rotation. Specifically, it examines conservatism as an attribute of earnings quality, which has not attracted particular attention in the auditor rotation research. Applying regression analyses on a sample,

  5. Job Preferences, College Major, and the Gender Gap in Earnings.

    Science.gov (United States)

    Daymont, Thomas N.; Andrisani, Paul J.

    1984-01-01

    The different preferences for occupational roles and college majors of the recent college graduates in this study account for one-third to two-thirds of the gender differences in earnings three years after graduation. The implications for estimating labor market discrimination are discussed. (SK)

  6. Within- and cross-firm mobility and earnings growth

    DEFF Research Database (Denmark)

    Frederiksen, Anders; Halliday, Timothy; Koch, Alexander

    While it is well established that both promotions within firms and mobility across firms lead to significant earnings progression, little is known about the interaction between these types of mobility. Exploiting a large Danish panel data set and controlling for unobserved individual heterogeneity...... or across firms) and subsequent mobility at a higher hierarchy level....

  7. CEO origin and accrual-based earnings management

    NARCIS (Netherlands)

    Kuang, Y.F.; Qin, B.; Wielhouwer, J.

    2014-01-01

    This study examines the influence of CEO origin on accrual-based earnings management and how these effects evolve over the CEO's tenure in office. Compared with CEOs promoted from within the company, CEOs recruited from outside have a stronger incentive to demonstrate their abilities in the initial

  8. CEO Origin and Accrual-Based Earnings Management

    NARCIS (Netherlands)

    Kuang, Y.; Qin, B.; Wielhouwer, J.L.

    2014-01-01

    This study examines the influence of CEO origin on accrual-based earnings management and how these effects evolve over the CEO’s tenure in office. Compared with CEOs promoted from within the company, CEOs recruited from outside have a stronger incentive to demonstrate their abilities in the initial

  9. 20 CFR 225.53 - Recomputation to consider additional earnings.

    Science.gov (United States)

    2010-04-01

    ... not used previously, as described in paragraphs (a)(2) through (a)(4) of this section. The inclusion... becomes entitled to an age annuity or becomes disabled. Earnings in the year an employee becomes entitled to an age annuity or becomes disabled are not used in the initial computation of the PIA. However...

  10. Size and earnings volatility of US bank holding companies

    NARCIS (Netherlands)

    de Haan, J.; Poghosyan, T.

    2012-01-01

    We examine whether bank earnings volatility depends on bank size. Using quarterly data for bank holding companies in the United States for the period 1995Q1-2010Q3 and controlling for the quality of management, leverage, and diversification, we find that bank size reduces return volatility. However,

  11. Corporate Social Responsibility and Earnings Management : Evidence from Asian Economies

    NARCIS (Netherlands)

    Scholtens, Bert; Kang, Feng-Ching

    2013-01-01

    We investigate how earnings management is associated with corporate social responsibility (CSR) and investor protection with 139 firms in ten Asian countries. In Asia, CSR is increasingly attracting attention but the legal system generally is perceived as being poor. We hypothesize that there is an

  12. The Marriage Earnings Premium as a Distributed Fixed Effect

    Science.gov (United States)

    Dougherty, Christopher

    2006-01-01

    Wage equations using cross-sectional data typically find an earnings premium in excess of 10 percent for married men. One leading hypothesis for the premium is that marriage facilitates specialization that enables married men to become more productive than single men. Another is that the premium is attributable to an unobserved fixed effect,…

  13. The effect of leverage increases on real earnings management

    NARCIS (Netherlands)

    I. Zagers-Mamedova (Irina)

    2009-01-01

    textabstractMain subject of this paper is to understand whether there could be an incentive for managers to manipulate cash flow from operating activities (CFO) through the use of real earnings management (REM), in situations with increasing leverage. Based upon a study of Jelinek (2007) who

  14. Labour-market institutions and the dispersion of wage earnings

    NARCIS (Netherlands)

    Salverda, W.; Checchi, D.

    Considering the contribution of the distribution of individual wages and earnings to that of household incomes we find two separate literatures that should be brought together, and bring ‘new institutions’ into play. Growing female employment, rising dual-earnership and part-time employment

  15. Labor Market Institutions and the Dispersion of Wage Earnings

    NARCIS (Netherlands)

    Salverda, W.; Checchi, D.; Atkinson, A.B.; Bourguignon, F.

    2015-01-01

    Considering the contribution of the distribution of individual wages and earnings to that of household incomes we find two separate literatures that should be brought together, and bring “new institutions” into play. Growing female employment, rising dual-earnership and part-time employment

  16. 5 CFR 531.404 - Earning within-grade increase.

    Science.gov (United States)

    2010-01-01

    ...) upon meeting the following three requirements established by law: (a) The employee's performance must... appraisal period. (b) The employee must have completed the required waiting period for advancement to the... UNDER THE GENERAL SCHEDULE Within-Grade Increases § 531.404 Earning within-grade increase. An employee...

  17. HIV-prevention studies: Educate smarter, boost women's earning ...

    African Journals Online (AJOL)

    Two pilot studies that have been teaching income- building, communication and relationship skills to men and women in 3 informal settlements around Durban have nearly tripled participants' earnings, and dramatically reduced intimate partner violence (IPV). The test probes could form the basis of an ambitious bid.

  18. International Financial Reporting Standards and Earnings Management in Latin America

    Directory of Open Access Journals (Sweden)

    Alex Augusto Timm Rathke

    2016-05-01

    Full Text Available This study analyzes the level of earnings management in Latin America after the adoption of the International Financial Reporting Standards (IFRS and analyzes the role of cross-listing in the United States. The literature on earnings management in less developed countries is still under construction, and few studies focus on this issue, especially with respect to Latin America, despite its relevant role in the global economy. This paper fills this gap in the literature as it analyzes the level of IFRS earnings management regarding the first and main Latin American countries applying IFRS (Brazil and Chile, when compared to the main Anglo-Saxon countries with IFRS tradition (United Kingdom and Australia, and with the main Continental European economies (France and Germany. The results show that Latin American firms present a higher level of earnings management than Continental European and Anglo-Saxon firms, and this opportunistic behavior remains significant when only global players with cross-listing in the United States are analyzed. Thus, even with a unique set of high quality accounting standards (IFRS and strong reporting incentives, countries’ specific characteristics still play an important role in the way IFRS is implemented in each country.

  19. Can "Some College" Help Reduce Future Earnings Inequality?

    Science.gov (United States)

    Gitterman, Daniel P.; Moulton, Jeremy G.; Bono-Lunn, Dillan; Chrisco, Laura

    2015-01-01

    This article addresses the policy debate over "college for all" versus "college for some" in the United States and analyzes the relationship between "some college" (as a formal education attainment category) and earnings. Our evidence confirms--using data from the American Community Survey (ACS), the Panel Study on…

  20. 20 CFR 702.285 - Report of earnings.

    Science.gov (United States)

    2010-04-01

    ... “earnings” is defined as all monies received from any employment and includes but is not limited to wages... Employees' Benefits EMPLOYMENT STANDARDS ADMINISTRATION, DEPARTMENT OF LABOR LONGSHOREMEN'S AND HARBOR... earnings from employment or self-employment. This report may not be required any more frequently than semi...

  1. Evaluation of Earning Performance of Female Owned Leather ...

    African Journals Online (AJOL)

    Questionnaire and oral interview were the instruments for data collection. The tools for data analyses ... The analyses of determinants of earning performance indicated the significant variables as interest rate on credit, distance to the nearest market, amount of credit available for investment and rent. It is recommended that ...

  2. How Money Matters: College, Motherhood, Earnings, and Wives' Housework

    Science.gov (United States)

    Usdansky, Margaret L.; Parker, Wendy M.

    2011-01-01

    Using new data from the American Time Use Survey (ATUS), the authors consider how educational and parental status influence the relationship between wives' relative earnings and the time they devote to housework in a climate of heightened gender egalitarianism and growing similarity between women's and men's time use. The authors capitalize on the…

  3. Relating customer satisfaction to customer profitability: an empirical ...

    African Journals Online (AJOL)

    This paper explores relationships between customer satisfactions; repurchase intentions, purchase behavior, and customer profitability with empirical data on attitudes, behavior, and profitability at the customer level of analysis. Purchase behavior and profitability data derived from the accounting system of a firm, are ...

  4. Comparative Corporate Governance of Non-Profit Organizations

    DEFF Research Database (Denmark)

    Thomsen, Steen

    2014-01-01

    Based on the impressive work of Hopt and von Hippel (2010), I review the comparative corporate governance of non-profit organizations and propose topics for future research. There is evidence of agency problems in non-profit as well as for-profit organizations, but the governance mechanisms...

  5. An Algorithm for the Nucleolus of Airport Profit Problems

    NARCIS (Netherlands)

    Brânzei, R.; Inarra, E.; Tijs, S.H.; Zarzuelo, J.

    2003-01-01

    Airport profit games are a generalization of airport cost games as well as of bankruptcy games.In this paper we present a simple algorithm to compute the nucleolus of airport profit games.In addition we prove that there exists an unique consistent allocation rule in airport profit problems, and it

  6. Taxing across Borders: Tracking Personal Wealth and Corporate Profits

    National Research Council Canada - National Science Library

    Gabriel Zucman

    2014-01-01

    ... that UScompanies are shifting profits to Bermuda, Luxembourg, and similar countries on a large and growing scale. About 20percent of all US corporate profits are now booked in such havens, a tenfoldincrease since the 1980s. This profit-shifting is typically done within the letter of the law and thus would be best described as tax avoidance rather than fraud. ...

  7. Determinants Of Profitability And Willingness To Pay For ...

    African Journals Online (AJOL)

    The study attempts to analyse the profitability of urban agriculture using metropolitan organic waste in Abuja, the Federal Capital Territory of Nigeria. The results show that the enterprise is profitable, and that output price is the most important determinant of maximum variable profit. Other price factors, specifically planting ...

  8. Mental health, absenteeism and earnings at a large manufacturing worksite.

    Science.gov (United States)

    French, Michael T.; Zarkin, Gary A.

    1998-12-01

    BACKGROUND: A few recent studies have examined the relationship between mental illness and labor market variables. The findings are inconsistent, however, and leave unanswered many questions concerning both the nature and magnitude of the relationship. AIMS OF THE STUDY: A recently available worksite-based data set is analyzed to explore the relationship between symptoms of emotional and psychological problems and employee absenteeism and earnings among employees at a large US worksite. METHODS: The analysis was based on data collected through a random and anonymous survey of workers at a large US manufacturing worksite. Two measures of absenteeism are combined - days absent during the past 30 days due to sickness or injury and days absent during the past 30 days because the employee did not want to be at work - to create both a dichotomous (i.e., ever absent) and a continuous (i.e., number of days absent) absenteeism variable. Annual earnings were measured as personal earnings from the primary job. Various statistical models were tested to determine the independent and joint (with alcohol and illicit drug use) relationship between symptoms of emotional problems and labor market variables. RESULTS: The analysis consistently finds that workers who report symptoms of emotional/psychological problems have higher absenteeism and lower earnings than otherwise similar coworkers. This finding is robust to model specification and to the inclusion of comorbid conditions such as alcohol and illicit drug use. DISCUSSION: This study contributes new information to the literature in this area by estimating the effects of emotional/psychological symptoms on two important labor market variables: absenteeism and earnings. Several specifications of the absenteeism and earnings equations were estimated to test the independent effect of emotional symptoms and the joint effects of emotional symptoms and other comorbid conditions. The results suggest that employers should consider the

  9. Impact of external job mobility and occupational job mobility on earnings

    Directory of Open Access Journals (Sweden)

    Chan Wai Wong

    2016-11-01

    Originality/value: The findings has also revealed important variables to be included in explaining high skill labor earnings in the context of Malaysian engineers, it serves as an important reference for future in modeling earnings.

  10. Disclosures of Insider Purchases and the Valuation Implications of Past Earnings Signals

    NARCIS (Netherlands)

    Veenman, D.

    2012-01-01

    This study examines whether disclosures of insider equity purchases on Securities and Exchange Commission (SEC) Form 4 resolve uncertainty regarding the valuation implications of reported earnings. Defining information uncertainty as ambiguity about firm value arising from low earnings precision, I

  11. THE ROLE OF EARNINGS PERSISTENCE IN VALUATION ACCURACY AND THE TIME HORIZON

    National Research Council Canada - National Science Library

    Renê Coppe Pimentel; Andson Braga de Aguiar

    2016-01-01

    Based on the assumption that earnings persistence has implications for both financial analysis and compensation contracts, the aim of this paper is to investigate the role of earnings persistence assuming...

  12. Disclosures of insider purchases and the valuation implications of past earnings signals

    NARCIS (Netherlands)

    D. Veenman (David)

    2012-01-01

    textabstractThis study examines whether disclosures of insider equity purchases on Securities and Exchange Commission (SEC) Form 4 resolve uncertainty regarding the valuation implications of reported earnings. Defining information uncertainty as ambiguity about firm value arising from low earnings

  13. How can work be designed to be intrinsically rewarding? Qualitative insights from South African non-profit employees

    Directory of Open Access Journals (Sweden)

    Michelle Renard

    2016-04-01

    Full Text Available Orientation: Intrinsic rewards are personal, psychological responses to the work thatemployees perform, which stem from the manner in which their work is designed.Research purpose: This study sought to discover in what ways non-profit employees arepsychologically rewarded by the nature of their work tasks. The use of a qualitative approachto data collection and analysis ensured that in-depth responses from participants were gained.Motivation for the study: Intrinsic rewards are of particular importance to non-profitemployees, who tend to earn below-market salaries. This implies that their motivationoriginates predominantly from intrinsic as opposed to extrinsic rewards; yet, research into thisarea of rewards is lacking.Research approach, design and method: In-depth, semi-structured interviews were conductedusing a sample of 15 extrinsically rewarded non-profit employees working within South Africa.Thematic analysis was utilised in order to generate codes which led to the formation of fiveintrinsic rewards categories.Main findings: Intrinsic rewards were classified into five categories, namely (1 MeaningfulWork, (2 Flexible Work, (3 Challenging Work, (4 Varied Work and (5 Enjoyable Work.These rewards each comprise of various subcategories, which provide insight into why suchwork is rewarding to non-profit employees.Practical/managerial implications: Traditional performance management systems shouldbe re-evaluated in the non-profit sector to shift focus towards intrinsic rewards, asopposed to focusing only on the use of extrinsic rewards such as incentives to motivateemployees.Contribution/value-add: The study provides a qualitative understanding of how extrinsicallyrewarded non-profit employees perceive their work to be intrinsically rewarding, whichbridges the empirical gap pertaining to intrinsic rewards within this sector.

  14. An investigation of the quality of earnings concept as applied to defense contractors.

    OpenAIRE

    Hauge, Todd Allen

    1989-01-01

    Approved for public release; distribution is unlimited This thesis analyzes whether the quality of earnings concept can be usefully employed in the security analysis of defense contractors. Background is provided by an extensive review of the literature relevant to quality of earnings. Since the quality of earnings concept is very subjective, specific quantitative measures of quality of earnings are developed and used in a statistical analysis to validate the variables...

  15. Alike in many ways: Intergenerational and sibling correlations of brothers' earnings

    OpenAIRE

    Bingley, Paul; Cappellari, Lorenzo

    2012-01-01

    We model the correlations of brothers' life-cycle earnings separating for the first time the effect of paternal earnings from additional residual sibling effects. We identify the two effects by analysing sibling correlations and intergenerational correlations jointly within a unified framework. Our multi-person model of earnings dynamics distinguishes permanent earnings from transitory – serially correlated – shocks, allows for life-cycle effects and nests the models of previous research that...

  16. Immigrant-Native Differences in Earnings Mobility Processes: Evidence from Canadian and Danish Data

    DEFF Research Database (Denmark)

    Ahmad, Nisar; Esmaeilzadeh, Rayhaneh

    This study compares the earnings mobility between immigrants and natives within and between Denmark and Canada. Both countries have different labour market conditions and immigration history which leads to an interesting comparison of earning mobility processes. The paper employs a dynamic...... that immigrants-native differences in earnings mobility, structural state dependence, and segmentation of earnings distribution are relatively more prominent in Denmark compared to Canada....

  17. Earnings Quality and IFRS Research in Africa: Recent Evidence, Issues and Future Direction

    OpenAIRE

    Ozili, P K

    2016-01-01

    This paper review the recent empirical research on IFRS and earnings quality among African studies and show mixed conclusions regarding the impact of IFRS on earnings quality and financial reporting quality in the region. Also, some discussions on factors that led to the growth in the earnings quality African literature over the last decade as well as some challenges in the recent literature, are provided. Also, the study makes several observations regarding IFRS and earnings quality research...

  18. 20 CFR 404.452 - Reports to Social Security Administration of earnings; wages; net earnings from self-employment.

    Science.gov (United States)

    2010-04-01

    ... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false Reports to Social Security Administration of...; and Nonpayments of Benefits § 404.452 Reports to Social Security Administration of earnings; wages...) Information required. If you are the beneficiary, your report should show your name, address, Social Security...

  19. Assessing the Predictive Power of Customer Satisfaction for Financial and Market Performances: Price-to-Earnings Ratio is a Better Predictor Overall

    Directory of Open Access Journals (Sweden)

    Pierre Rostan

    2012-01-01

    Full Text Available Our paper shows that based on the RMSE criteria, Price-to-Earnings ratio is a better predictor of financial and market performances of the firm than the Customer Satisfaction index (CS. This conclusion is based on the choice of five financial and seven market indicators that we consider as proxies for financial and market performances with a sample comprising eighty-six companies: Book value, dividend yield, Gross Profit Margin, Price to Cash-Flows, Price-to-Earnings, Price to Sales, Annual return, ROA, ROE, ROI, Volatility and Tobin’s Q. However, CS clearly outperforms our five benchmarks (Tobin’s Q, Price-to-Cash Flows, Price-to-Earnings, Volatility or the indicator itself when forecasting Tobin’s Q, Volatility, ROE and ROI. In periods of volatile market such as year 2008, CS is a more stable predictor of Volatility or ROE than the indicators themselves (i.e. Volatility for Volatility, ROE for ROE.

  20. Organizational Structure and Behaviour in Day Care: Differences between Non-Profit and For-Profit Centres.

    Science.gov (United States)

    Canning, Patricia M.; Lyon, Mary E.; Kienapple, Kim; Young, Jeffrey

    2002-01-01

    Examined how Canadian day care centers are operated and managed, to identify differences in organizational structure and behavior between non-profit and for-profit centers and characteristics of structure and management linked with high quality care. Found that non-profit centers were more complex, more formalized, and less centralized than…

  1. Relative Earnings of Hispanic Youth in the U.S. Labor Market.

    Science.gov (United States)

    Myers, Steven C.; King, Randall H.

    The presence of substantial earnings differentials in the youth labor market provides the motivation for this paper, which considers the financial position of Hispanic youth vis-a-vis non-Hispanic White and Black youth. Two fundamental measures of labor market success--average hourly earnings and salary earnings over a year--are employed as…

  2. Do Survey Data Estimate Earnings Inequality Correctly? Measurement Errors among Black and White Male Workers

    Science.gov (United States)

    Kim, ChangHwan; Tamborini, Christopher R.

    2012-01-01

    Few studies have considered how earnings inequality estimates may be affected by measurement error in self-reported earnings in surveys. Utilizing restricted-use data that links workers in the Survey of Income and Program Participation with their W-2 earnings records, we examine the effect of measurement error on estimates of racial earnings…

  3. The quality of reported earnings and the monitoring role of the board ...

    African Journals Online (AJOL)

    The quality of reported earnings and the monitoring role of the board: Evidence from small and medium companies. ... Southern African Business Review ... Key words: agency theory, corporate governance, non-executive directors, board composition, earnings quality, conservatism, timeliness of earnings, monitoring ability, ...

  4. A Study on the Relationship of Earnings and Cash Flows: Evidence of Finance Sector in Iran

    Directory of Open Access Journals (Sweden)

    Mahdi Salehi

    2013-08-01

    Full Text Available The present study is investigating the quality of annual accounting earnings in banking firms that have been listed in Tehran Stock Exchange (TSE and it evaluates the most important information of accounting that is earnings and cash flows. The study also intends to investigate the relationship between earnings and cash flows regarding their relationship with the expected return of stocks and the extent of informing in the analysis of the inevitable return of stocks. The analyses of data during 6 years revealed that the earnings in comparison to the cash flows are very important as they have positive effects on the stock. Moreover, in the case of the relations of earnings and earnings changes with the expected return of stocks and the relation of cash flows and cash flow changes with the expected return of stock, it was found that there is only a meaningful relationship between earning changes and the expected return of stock in banking groups. However, there is no meaningful relationship between earning and cash flows with the expected return of stock. The result was that the informational content test didn’t support the value relation of earning and cash flows. Furthermore, the classifying of information through banking group indicated that the changes of earning was in the first rank and next were earning, the changes of cash flow and cash flows.Keywords: Earnings; Cash flows; expected return; Value relevance; Banking risks

  5. Earnings risk and demand for higher education: a cross-section test for Spain

    NARCIS (Netherlands)

    Hartog, J.; Diaz-Serrano, L.

    2003-01-01

    We develop a simple human capital model for optimum schooling length when earnings are stochastic, and highlight the pivotal role of risk attitudes and the schooling gradient of earnings risk. We use Spanish data to document the gradient and to estimate individual response to earnings risk in

  6. The quality of reported earnings and the monitoring role of the board

    African Journals Online (AJOL)

    kirstam

    on the board and conservative accounting practices (asymmetric timeliness of earnings) that will improve earnings quality. Model and method of analysis. 1Basu's (1997) seminal paper on the conservatism principle and the asymmetric timeliness of earnings proposed a statistical technique to explore the effects of the.

  7. 5 CFR 1645.3 - Calculation of total net earnings for each TSP Fund.

    Science.gov (United States)

    2010-01-01

    ... each TSP Fund. 1645.3 Section 1645.3 Administrative Personnel FEDERAL RETIREMENT THRIFT INVESTMENT BOARD CALCULATION OF SHARE PRICES § 1645.3 Calculation of total net earnings for each TSP Fund. (a) Each business day, net earnings will be calculated separately for each TSP Fund. (b) Net earnings for each fund...

  8. 77 FR 14568 - Earned Import Allowance Program: Evaluation of the Effectiveness of the Program for Certain...

    Science.gov (United States)

    2012-03-12

    ... COMMISSION Earned Import Allowance Program: Evaluation of the Effectiveness of the Program for Certain... review in investigation No. 332-503, Earned Import Allowance Program: Evaluation of the Effectiveness of... Commerce to establish an Earned Import Allowance Program (EIAP) and directed the Commission to conduct...

  9. 78 FR 16297 - Earned Import Allowance Program: Evaluation of the Effectiveness of the Program for Certain...

    Science.gov (United States)

    2013-03-14

    ... COMMISSION Earned Import Allowance Program: Evaluation of the Effectiveness of the Program for Certain... fourth annual review in investigation No. 332-503, Earned Import Allowance Program: Evaluation of the... an Earned Import Allowance Program (EIAP) and directed the Commission to conduct annual reviews of...

  10. Accounting for cross‐country differences in intergenerational earnings persistence: The impact of taxation and public education expenditure

    National Research Council Canada - National Science Library

    Holter, Hans A

    2015-01-01

    ...‐cycle model of human capital accumulation and earnings that features progressive taxation, public education expenditure, and borrowing constraints among the determinants of earnings persistence...

  11. Vaccine production: upstream processing with adherent or suspension cell lines.

    Science.gov (United States)

    Genzel, Yvonne; Rödig, Jana; Rapp, Erdmann; Reichl, Udo

    2014-01-01

    The production of viral vaccines in cell culture can be accomplished with primary, diploid, or continuous (transformed) cell lines. Each cell line, each virus type, and each vaccine preparation require the specific design of upstream and downstream processing. Media have to be selected as well as production vessels, cultivation conditions, and modes of operation. Many viruses only replicate to high titers in adherently growing cells, but similar to processes established for recombinant protein production, an increasing number of suspension cell lines is being evaluated for future use. Here, we describe key issues to be considered for the establishment of large-scale virus production in bioreactors. As an example upstream processing of cell culture-derived influenza virus production is described in more detail for adherently growing and for suspension cells. In particular, use of serum-containing, serum-free, and chemically defined media as well as choice of cultivation vessel are considered.

  12. Hitchhiking behaviour in the obligatory upstream migration of amphidromous snails

    OpenAIRE

    Kano, Yasunori

    2009-01-01

    Migratory animals endure high stress during long-distance travel in order to benefit from spatio-temporally fluctuating resources, including food and shelter or from colonization of unoccupied habitats. Along with some fishes and shrimps, nerite snails in tropical to temperate freshwater systems are examples of amphidromous animals that migrate upstream for growth and reproduction after a marine larval phase. Here I report, to my knowledge, the first example of ‘hitchhiking’ behaviour in the ...

  13. Effect of Upstream Wake on Shower-Head Film Cooling

    Directory of Open Access Journals (Sweden)

    Ping-Hei Chen

    1996-01-01

    transfer distributions on both suction and pressure surfaces of the test blade. All mass transfer runs were conducted on a blowing-type wind tunnel with a six-blade linear cascade. The leading edge of the test blade was drilled with three rows of equally spaced injection holes. The upstream wake was simulated by a circular bar with the same diameter as that of the trailing edge of the test blade.

  14. Opening the upstream oil industry to private companies

    OpenAIRE

    Sylvain Rossiaud

    2014-01-01

    Oil nationalism cycle reflects the difficulties encountered by oil states, international oil companies (IOCs) and national oil companies (NOCs) in establishing order over and above the conflicts in upstream oil transaction. By drawing on transaction cost theory, this article identifies the coordination problems and contractual hazards resulting from transaction and contributes to a better understanding of the different roles of an NOC in the governance of transaction. An NOC can complement or...

  15. PERFORMANCE ANALYSIS OF MAJOR AIRLINE COMPANIES IN UAE WITH REFERENCE TO PROFITABILITY, LIQUIDITY, EFFICIENCY, EMPLOYEE STRENGTH AND PRODUCTIVITY

    Directory of Open Access Journals (Sweden)

    Indrani Hazarika

    2016-11-01

    Full Text Available The demand for air transport has been consistently increasing in UAE and has made significant growth in the aviation sector in terms of expansion and modernization. Within Dubai’s services sector, transport ranks first accounting for 14.8% of Dubai’s GDP in 2014.As per the Economics Report commissioned by Emirates and Dubai Airports, aviation sector is expected to contribute $53.1 billion to Dubai’s economy, 37.5 per cent to its GDP and will support over 750,000 jobs by 2020. The present study makes a comparative analysis of the top airline companies in UAE – Emirate Airlines and Air Arabia in terms of profitability, liquidity, efficiency and also Etihad Airways on employee strength and productivity from 2010 to 2014.Dubai’s aviation sector is projected to support over 1,194,700 jobs by 2030 and the total economic impact on UAE is expected to increase to $88.1 billion. The financial performance indicators of Emirates Airlines and Air Arabia has been compared and further analyzed to see if there is any significant impact of the macroeconomic indicators on the financial performance of the airline companies. Companies can create wealth either by increasing profit per employee or by increasing the number of employees earning such profits, or both.

  16. Monitoring upstream sinkhole development by detailed sonar profiling

    Energy Technology Data Exchange (ETDEWEB)

    Rigbey, S. [Acres International Ltd., Niagara Falls, ON (Canada)

    2004-09-01

    This paper describes the development and use of a simple sonar system that has been used by engineers for routine monitoring of small sinkholes on the upstream face of a distressed earth dam. Improper construction of the dam led to the development of several sinkholes measuring 10 to 20 m in diameter upstream from the dam which is founded on deep alluvial sands and gravels. The dam has a central core of silt and leakage varies between 200 and 500 l/s, depending on the water level of the reservoir. The main issues with the upstream blanket are: improper fill placement due to the inability to dewater the area properly; omission of a filter material between the blanket and the alluvium foundation; thin placement of fill and runnelling of the blanket prior to impoundment; and, short upstream extent of the blanket. A downstream weighting toe of material was placed to address the seepage and piping that developed immediately following impounding. Other incidents continued over the years, such as downstream sinkholes, slumping of the crest and repairs about 12 years after construction. An inverter filter was also constructed to better control the seepage. Simple bathymetric surveys conducted by sounding the bottom of the reservoir from the ice surface each winter revealed the presence of several large sinkholes. Although infilling programs were conducted, sinkholes redeveloped after each program. The bathymetric surveys were found to be limited in accuracy and repeatability. Therefore, it was not possible to monitor small developments on a yearly basis. A 3-dimensional seepage model was developed to reconcile some of the unexplained piezometric patterns and to better understand the seepage patterns. However, this was also unsuccessful on its own. A trial sonar survey was then undertaken in 2002 by a Vancouver-based sonar company using an Imagenix profiling sonar head. It was successful in locating a small, previously unknown sinkhole measuring a few metres in diameter at

  17. The influence of enterprise resource planning (ERP) systems' performance on earnings management

    Science.gov (United States)

    Tsai, Wen-Hsien; Lee, Kuen-Chang; Liu, Jau-Yang; Lin, Sin-Jin; Chou, Yu-Wei

    2012-11-01

    We analyse whether there is a linkage between performance measures of enterprise resource planning (ERP) systems and earnings management. We find that earnings management decreases with the higher performance of ERP systems. The empirical result is as expected. We further analyse how the dimension of the DeLone and McLean model of information systems success affects earnings management. We find that the relationship between the performance of ERP systems and earnings management depends on System Quality after ERP implementation. The more System Quality improves, the more earnings management is reduced.

  18. Stream maintenance as a profit center

    Energy Technology Data Exchange (ETDEWEB)

    Bouchillon, J.L.

    1997-06-01

    Probably one of the most overlooked profit centers in industrial management strategy is savings in energy costs. Every $1 in certified energy savings is often worth over $10 in increased sales. The author has found from actual practice that there is big corporate profit in a shrewd, diligent steam trap management program. He describes a way to restructure corporate handling of trap maintenance to turn it into a source of revenue. Cited is a case history of building an intensive trap maintenance program at a large, 4000 trap chemical plant. The previously {open_quotes}good{close_quotes} maintenance program which was losing $565,000 per year in steam was turned into a $485,000 per year cost savings. This article will also give the steps that can in as few as 3 months generate over $125,000 annually in tax-free cash per 1000 traps with an investment payback of 18 months or less. The author is a businessman and energy management consultant that has no trap sales or promotion.

  19. Business strategies, profitability and efficiency of production

    Directory of Open Access Journals (Sweden)

    S. Alarcón

    2013-02-01

    Full Text Available The strategy choices of market-oriented companies are a topic now under wide investigation in the analysis of business performance antecedents. The purpose of this study is to examine the outcomes of the combination of three different organizational strategies (market orientation, innovativeness and entrepreneurial orientation on business performance indicators. Models using profitability and efficiency indicators are proposed with the specific aim of obtaining a deeper analysis of the relative roles played by each. The empirical work takes place in the agro-food industry in the Ebro Valley, one of Spain’s most competitive regions. The estimates from profitability quantile and truncated regressions of the efficiency scores reveal that market orientation has a positive effect on economic and productivity performance. The impact of pro-active, innovation-seeking, and risk-averse entrepreneurship is nevertheless more debatable, despite some influence of these entrepreneurial styles on observed performance values. This enables conclusions regarding the possibility of combining a market-oriented business culture with innovation and entrepreneurial activity with a view to obtaining business performance gains.

  20. Mental Illness and Labour Market Outcomes: Employment and Earnings

    DEFF Research Database (Denmark)

    Westergård-Nielsen, Niels Chr.; Agerbo, Esben; Eriksson, Tor Viking

    1999-01-01

    after hospital treatment is about 35% lower for cases than for controls and varies somewhat depending on diagnosis. On average, those who keep their jobs have 20% lower earnings compared to a control group. We use longitudinal data from labour market registers covering a 5% sample of the Danish adult......This paper investigates the effect of severe mental illness on the capacity to hold a job and to earn an income. We find that the employment rate is reduced with about 1/3 during the development of the disease. Hospital admission seems to stabilize employment for all diagnoses. The employment rate...... population followed from 1976 to 1993 merged with data from the Central Psychiatric Case Register which covers all cases of hospitalizations with psychiatric disorders and their diagnoses since 1969. At the time of admission, we match all patients with people from the same cohort and gender. Both groups...

  1. EARNING MANAGEMENT, STOCK RETURN AND COMPANIES’ MERGER AND ACQUISITION

    Directory of Open Access Journals (Sweden)

    Sigit Handoyo

    2017-03-01

    Full Text Available The purpose of this study was to find out the practice earning management before merger and acquisitionannouncement. It also aimed to examine the differences of stock return before and after merger and acquisitionannouncement among companies that were listed on Indonesia stock exchange. The samples were 35 companiesthat did merger and acquisition and listed in Indonesia Stock Exchange (IDX period 2004–2013. Then, thedata analysis was performed by computer statistic program SPSS. These samples were selected by usingpurposive sampling method. Analysis hypothesis used Independent sample t-test and Wilcoxon sign rankstest. The result of independent sample t-test showed that the companies tended to do earning managementbefore merger and acquisitions. While the result of Wilcoxon signed ranks test showed that there was nodifference between stock return before and after merger and acquisition announcement.

  2. Detectando Earnings management no Brasil: estimando os accruals discricionários Detecting Earnings management in Brazil: estimating discretionary accruals

    Directory of Open Access Journals (Sweden)

    Antonio Lopo Martinez

    2008-04-01

    Full Text Available Este artigo analisa os modelos clássicos existentes na literatura acadêmica internacional para estimar os accruals discricionários, que são uma proxy empírica para detectar Earnings Manangement. Adicionalmente, evidencia que as Cias. Brasileiras "gerenciam" os seus resultados contábeis como resposta a estímulos do mercado de capitais. O primeiro passo é elucidar o significado de alguns conceitos relevantes tais como: accruals totais e accruals discricionários. Posteriormente, após uma análise crítica dos principais modelos de accruals agregados, implementar no contexto de empresas brasileiras, o modelo Kang e Silvaramakrishnan (1995, diagnosticado como o tecnicamente mais acurado para o Brasil. Para atestar a validade do modelo aplicado, investigamse circunstâncias em que o incentivo para gerenciamento de resultados é particularmente forte. Os resultados corroboram as hipóteses de gerenciamento de resultados para: a Evitar reportar perdas; b Sustentar o desempenho recente e c Piorar o resultado presente em prol de resultados futuros (take a bath.This paper analyzes classic models used in international academic literature to estimate discretionary accruals, which are an empirical proxy to detect earnings management. Additionally, it provides evidence that Brazilian public companies practice earnings management in response to capital market incentives. Initially, some important concepts are clarified, such as accruals and discretionary accruals. After a critical analysis of the main accruals model, the Kang & Silvaramakrishnan model (1995 was implemented in the context of Brazilian companies, which is technically considered the most accurate model for Brazil. To check the robustness of the model, circumstances were investigated where there were strong incentives to practice earnings management. The results confirm the earnings management hypothesis. Evidences were documented that Brazilian public companies manage their earnings to

  3. Cournot competition between a non-profit firm and a for-profit firm with uncertainty

    Science.gov (United States)

    Ferreira, Fernanda A.

    2010-03-01

    In this paper, we consider a Cournot competition between a nonprofit firm and a for-profit firm in a homogeneous goods market, with uncertain demand. Given an asymmetric tax schedule, we compute explicitly the Bayesian-Nash equilibrium. Furthermore, we analyze the effects of the tax rate and the degree of altruistic preference on market equilibrium outcomes.

  4. To Profit or Not To Profit: That Is the Tough Question.

    Science.gov (United States)

    Neugebauer, Roger

    1999-01-01

    Discusses advantages and disadvantages of organizing a child care operation as a for-profit or a nonprofit organization. Areas discussed include ease of start up; access to capital and funding; exposure to taxes; access to community support; appeal to volunteers, teaching candidates, and parents; challenge of management; risk to management;…

  5. Do non-profits make a difference? : Evaluating non-profit vis-à-vis for-profit organisations in social

    NARCIS (Netherlands)

    Koning, P.; Noailly, J.; Visser, S.

    2006-01-01

    This CPB Document provides a framework for the evaluation of non-profit organisations. This framework addresses the question under which conditions, and, if so, in what way non-profits should be stimulated. Essentially, in order to answer these questions, three steps can be followed: (i) identifying

  6. The Earned Value Body of Knowledge (EV-BOK)

    Science.gov (United States)

    2002-06-01

    Lillian Gilbreth • Henry Laurence Gantt • Henri Fayol • and others... Circa 1890s... ...in the Industrial Factories Exceptional = +1.0 Perfect...SUBTITLE The Earned Value Body of Knowledge (EV-BOK) Unclassified 5a. CONTRACT NUMBER 5b. GRANT NUMBER 5c. PROGRAM ELEMENT NUMBER 6. AUTHOR( S ) Fleming...PERFORMING ORGANIZATION REPORT NUMBER 9. SPONSORING/MONITORING AGENCY NAME AND ADDRESS OUSD(AT&L) Acquisition Resources & Analysis/Acquisition Management

  7. Agricultural Graduate Earnings: The Impacts of College, Career, and Gender

    OpenAIRE

    Barkley, Andrew P.; Cynthia K. Sylvius; Wendy A. Stock

    1999-01-01

    Survey data were used to identify determinants of starting and current salaries of agricultural graduates from Kansas State University from 1976–97. Salaries were significantly influenced by major field, advanced degrees, job location, gender and family variables, motivation for accepting a job, and job mobility. Salary structures were estimated separately for male and female alumni. Women earned less than men, after controlling for observed differences between the two groups. Decomposition o...

  8. An examination and comparison of airline and Navy career earnings

    OpenAIRE

    Kriegel, David A.

    1986-01-01

    Approved for public release; distribution is unlimited This thesis compares lifetime incomes of Navy and major airline pilots. Regression analysis of actual 1983 pilot wages predicts average wages as a function of pilot seniority. Regression results adjusted for post-1983 wage changes are used to forecast thirty-year pilot earnings. The average military benefit of tax-free income and allowances are computed. Three Navy salaries are compared against a weighted-average airline salary. Comp...

  9. Heterogeneity in graduate earnings by socio-economic background

    OpenAIRE

    Crawford, Claire; Vignoles, Anna

    2014-01-01

    Education is often regarded as a route to social mobility. For this to be the case, however, the link between family background and adult outcomes must be broken (or at least reduced) once we take account of an individual’s education history. This paper focuses on individuals who have completed university and provides new evidence on differences in graduates’ earnings by socio-economic background, with a particular focus on whether they attended a private school. We use data on the population...

  10. EARNING MANAGEMENT, STOCK RETURN AND COMPANIES’ MERGER AND ACQUISITION

    OpenAIRE

    Sigit Handoyo; Fitria Rahmadani Putri

    2017-01-01

    The purpose of this study was to find out the practice earning management before merger and acquisitionannouncement. It also aimed to examine the differences of stock return before and after merger and acquisitionannouncement among companies that were listed on Indonesia stock exchange. The samples were 35 companiesthat did merger and acquisition and listed in Indonesia Stock Exchange (IDX) period 2004–2013. Then, thedata analysis was performed by computer statistic program SPSS. These sample...

  11. Civilian Returns to Earnings from Prior Military Service.

    Science.gov (United States)

    1983-06-01

    there had been a clear indication of the results from the question. There were 682 afffirmative responses, 120 negative responses, and 1917 sample members...employment as well as in some state and local governments. Affirmative action programs and increasing adherence to equal opportunity regulations have...greatest return on their investment. This thesis did not use occupation as an earnings factor. The assumption was made that affirmative action

  12. Seigniorage Earnings of Commercial Banks and State Bank of Pakistan

    OpenAIRE

    Arby, Muhammad Farooq

    2006-01-01

    The paper reviews the trend of seigniorage earnings by State Bank of Pakistan and commercial banks. It is found that seigniorage revenue of the SBP has declined overtime which indicates autonomy of the central bank as well as less reliance of the government on SBP’s resources for budget financing. In general, a direct relationship has been observed between seigniorage and inflation in Pakistan. However, at the two extremes of very high or very low inflation an inverse relation is detected.

  13. Trade Union Membership and Earnings in Kenyan Manufacturing Firms

    OpenAIRE

    Manda , Damiano Kulundu; Bigsten, Arne; Mwabu , Germano

    2001-01-01

    This paper analyses the effect of trade unions on earnings in Kenyan manufacturing using a switching regression model, which takes into account endogeneity of union status of workers. In contrast to earlier studies of the Kenyan labour market, which indicate that the union effect on wages is negative, our results show a strong positive trade union effect. We also show that it is workers with relatively weak position in the labour market that joins the union.

  14. Corporate Social Responsibility Reporting and Earnings Management: The Role of Political Costs

    Directory of Open Access Journals (Sweden)

    Erica Yip

    2011-09-01

    Full Text Available Recently, Francis, Nanda and Olsson (2008 proposed that earnings quality influence firms’ disclosure decisions. We examine whether Corporate Social Responsibility (CSR disclosure is related to earnings management and if the relationship is mitigated by political cost considerations or by the firm’s ethical predisposition. We argue that the relationship between CSR reporting and earnings management is context-specific and we consider one particular context, the political environment. We test our hypotheses by regressing earnings management on CSR disclosure while controlling for other factors that may affect the level of earnings management. We find a significant relationship between CSR reporting and earnings management, and more specifically, we find evidence of a negative (complementary relationship in the oil and gas industry while we find evidence of a positive (substitutive relationship in the food industry. The evidence supports the view that the relationship between CSR reporting and earnings management is affected by the political environment and not by ethical considerations.

  15. Unemployment, earnings and enrollment among post 9/11 veterans.

    Science.gov (United States)

    Kleykamp, Meredith

    2013-05-01

    This paper examines three outcomes characterizing different aspects of post 9/11 veterans' economic reintegration to civilian life: unemployment, earnings and college enrollment, using Current Population Survey data from 2005 to 2011. Analyses include interactions of veteran status with sex, race/ethnicity and educational attainment to evaluate whether diverse veterans experience diverse consequences of service. In brief, I find that the basic unemployment differences between veterans and non-veterans often reported in the media understate the effect of military service on unemployment for men, since veterans have other characteristics that are associated with higher employment rates. Female veterans appear to suffer a steeper employment penalty than male veterans, but black veterans appear to suffer less of a penalty than white veterans. But on two other measures, earnings and college enrollment, veterans appear to be doing better than their civilian peers. Veterans with a high school education or less outearn their civilian peers, but veterans with at least some college education appear to lose some or all of the veteran earnings advantage compared to veterans with a high school degree, suggesting the greatest wage returns to military service accrue among the least educated. Veterans with at least a high school education are more likely to be enrolled in college than their civilian peers. Treating veterans as a monolithic block obscures differences in the consequences of military service across diverse groups. Copyright © 2013 Elsevier Inc. All rights reserved.

  16. Accruals, cash flows and earnings in european privately held firms

    Directory of Open Access Journals (Sweden)

    Borja Amor Tapia

    2013-03-01

    Full Text Available Este trabajo examina las propiedades de los ajustes al devengo, los flujos de caja y los resultados en las empresas europeas no cotizadas. A partir de varias hipótesis sobre la persistencia de losresultados y sus componentes, encontramos que las empresas no cotizadas parecen comportarse de forma diferente a la evidencia encontrada previamente sobre las empresas cotizadas. Lasdiferencias son significativas cuando los ajustes al devengo son extremos, dado que la persistencia del ROA y de los flujos de caja siguen patrones de comportamiento distintos a los encontrados en las empresas estadounidenses cotizadas. Pero contrariamente a nuestrashipótesis, las diferencias en la persistencia no son significativas cuando las empresas no cotizadas publican resultados positivos frente a resultados negativos.This paper examines the properties of accruals, cash flows and earnings in European privately held firms. We start from several hypotheses about the persistence of earnings and its components, finding that private companies seem to behave in a different manner than the publicly traded firms tested in previous literature. As hypothesized, differences are significant when accruals are extreme, though in European private firms, persistence of ROA relative to cash flow follows a different pattern than in US public firms. But contrary to our expectations, differences in persistence are not significant when companies report positive versus negative earnings.

  17. Lifetime earnings patterns, the distribution of future Social Security benefits, and the impact of pension reform.

    Science.gov (United States)

    Bosworth, B; Burtless, G; Steuerle, E

    2000-01-01

    In order to assess the effect of Social Security reform on current and future workers, it is essential to accurately characterize the initial situations of representative workers affected by reform. For the purpose of analyzing typical reforms, the most important characteristic of a worker is the level and pattern of his or her preretirement earnings. Under the current system, pensions are determined largely by the level of the workers' earnings averaged over their work life. However, several reform proposals would create individual retirement accounts for which the pension would depend on the investment accumulation within the account. Thus, the pension would also depend on the timing of the contributions into the account and hence on the exact shape of the worker's lifetime earnings profile. Most analysis of the distributional impact of reform has focused, however, on calculating benefit changes among a handful of hypothetical workers whose relative earnings are constant over their work life. The earnings levels are not necessarily chosen to represent the situations of workers who have typical or truly representative earnings patterns. Consequently, the results of such analysis can be misleading, especially if reform involves introducing a fundamentally new kind of pension formula. This article presents two broad approaches to creating representative earnings profiles for policy evaluation. First, we use standard econometric methods to predict future earnings for a representative sample of workers drawn from the Survey of Income and Program Participation (SIPP). Our statistical estimates are based on a simple representation of typical career earnings paths and a fixed-effect statistical specification. Because our estimation file contains information on each worker's annual earnings from 1951 through 1996 as reported in the Social Security Administration's earnings files, we have a record (though an incomplete one) of the actual earnings that will be used to

  18. Simulation of Upstream Tracker Detector Response for Modernised LHCb Experiment

    CERN Document Server

    Pikies, M

    2015-01-01

    LHCb experiment operates a forward spectrometer that collects proton–proton collision data at the Large Hadron Collider at CERN. During the so-called Long Shutdown 2 period in years 2018–2019, LHCb detector will undergo a major modernisation. A vital part of this upgrade process is building a silicon micro-strip tracking detector — Upstream Tracker (UT) — that will be placed before the bending magnet. The UT will play a critical role in the upgraded trigger system. This paper contains a general discussion of the UT detector and presents description of a silicon response simulation platform that is being currently designed by the AGH UST LHCb group.

  19. POSTRANSLATIONAL MODIFICATIONS OF P53: UPSTREAM SIGNALING PATHWAYS.

    Energy Technology Data Exchange (ETDEWEB)

    ANDERSON,C.W.APPELLA,E.

    2003-10-23

    The p53 tumor suppressor is a tetrameric transcription factor that is posttranslational modified at >20 different sites by phosphorylation, acetylation, or sumoylation in response to various cellular stress conditions. Specific posttranslational modifications, or groups of modifications, that result from the activation of different stress-induced signaling pathways are thought to modulate p53 activity to regulate cell fate by inducing cell cycle arrest, apoptosis, or cellular senescence. Here we review recent progress in characterizing the upstream signaling pathways whose activation in response to various genotoxic and non-genotoxic stresses result in p53 posttranslational modifications.

  20. Multiple upstream modules regulate zebrafish myf5 expression

    Directory of Open Access Journals (Sweden)

    Weng Chih-Wei

    2007-01-01

    Full Text Available Abstract Background Myf5 is one member of the basic helix-loop-helix family of transcription factors, and it functions as a myogenic factor that is important for the specification and differentiation of muscle cells. The expression of myf5 is somite- and stage-dependent during embryogenesis through a delicate regulation. However, this complex regulatory mechanism of myf5 is not clearly understood. Results We isolated a 156-kb bacterial artificial chromosome clone that includes an upstream 80-kb region and a downstream 70-kb region of zebrafish myf5 and generated a transgenic line carrying this 156-kb segment fused to a green fluorescent protein (GFP reporter gene. We find strong GFP expression in the most rostral somite and in the presomitic mesoderm during segmentation stages, similar to endogenous myf5 expression. Later, the GFP signals persist in caudal somites near the tail bud but are down-regulated in the older, rostral somites. During the pharyngula period, we detect GFP signals in pectoral fin buds, dorsal rostral myotomes, hypaxial myotomes, and inferior oblique and superior oblique muscles, a pattern that also corresponds well with endogenous myf5 transcripts. To characterize the specific upstream cis-elements that regulate this complex and dynamic expression pattern, we also generated several transgenic lines that harbor various lengths within the upstream 80-kb segment. We find that (1 the -80 kb/-9977 segment contains a fin and cranial muscle element and a notochord repressor; (2 the -9977/-6213 segment contains a strong repressive element that does not include the notochord-specific repressor; (3 the -6212/-2938 segment contains tissue-specific elements for bone and spinal cord; (4 the -2937/-291 segment contains an eye enhancer, and the -2937/-2457 segment is required for notochord and myocyte expression; and (5 the -290/-1 segment is responsible for basal transcription in somites and the presomitic mesoderm. Conclusion We suggest

  1. Determinants of profitability differences among major refiner/marketers

    Energy Technology Data Exchange (ETDEWEB)

    1985-01-01

    This report attempts to shed light on the factors affecting the differing profitabilities among companies, particularly, the effect of refinery upgrading, to contribute toward a better understanding of the performance of the domestic petroleum refining industry. The determinants of domestic refining-marketing profitability in the short run are evaluated. The focus is on those factors affecting the profitability of operations using the existing capital stock. Of particular interest is the effect on profitability of investments made for refinery upgrading. The refining-marketing segment is assumed to be operated to maximize profits of that segment rather than the profits of some other segment. The cost and financial data used in the analysis are proprietary line-of-business data from the FRS. The FRS provides detailed information on refining-marketing revenue, cost, income, and investment. The specific data used are discussed and key definitions provided later in this report. 14 refs., 1 fig., 2 tabs.

  2. Profitable solutions to climate, oil, and proliferation.

    Science.gov (United States)

    Lovins, Amory B

    2010-05-01

    Protecting the climate is not costly but profitable (even if avoided climate change is worth zero), mainly because saving fuel costs less than buying fuel. The two biggest opportunities, both sufficiently fast, are oil and electricity. The US, for example, can eliminate its oil use by the 2040s at an average cost of $15 per barrel ($2000), half by redoubled efficiency and half by alternative supplies, and can save three-fourths of its electricity more cheaply than operating a thermal power station. Integrative design permits this by making big energy savings cheaper than small ones, turning traditionally assumed diminishing returns into empirically observed expanding returns. Such efficiency choices accelerate climate-safe, inexhaustible, and resilient energy supply-notably the "micropower" now delivering about a sixth of the world's electricity and 90% of its new electricity. These cheap, fast, market-financeable, globally applicable options offer the most effective, yet most underestimated and overlooked, solutions for climate, proliferation, and poverty.

  3. Maximum Profit Configurations of Commercial Engines

    Directory of Open Access Journals (Sweden)

    Yiran Chen

    2011-06-01

    Full Text Available An investigation of commercial engines with finite capacity low- and high-price economic subsystems and a generalized commodity transfer law [n ∝ Δ (P m] in commodity flow processes, in which effects of the price elasticities of supply and demand are introduced, is presented in this paper. Optimal cycle configurations of commercial engines for maximum profit are obtained by applying optimal control theory. In some special cases, the eventual state—market equilibrium—is solely determined by the initial conditions and the inherent characteristics of two subsystems; while the different ways of transfer affect the model in respects of the specific forms of the paths of prices and the instantaneous commodity flow, i.e., the optimal configuration.

  4. Full truckload vehicle routing problem with profits

    Directory of Open Access Journals (Sweden)

    Jian Li

    2014-04-01

    Full Text Available A new variant of the full truckload vehicle routing problem is studied. In this problem there are more than one delivery points corresponding to the same pickup point, and one order is allowed to be served several times by the same vehicle or different vehicles. For the orders which cannot be assigned because of resource constraint, the logistics company outsources them to other logistics companies at a certain cost. To maximize its profits, logistics company decides which to be transported by private fleet and which to be outsourced. The mathematical model is constructed for the problem. Since the problem is NP-hard and it is difficult to solve the large-scale problems with an exact algorithm, a hybrid genetic algorithm is proposed. Computational results show the effectiveness of the hybrid genetic algorithm.

  5. Pharmaceutical technology management--profitable business avenue.

    Science.gov (United States)

    Puthli, Shivanand P

    2010-01-01

    Growing research expenditure, regulatory framework and generic erosion have forced pharmaceutical companies globally to resort to pharmaceutical technology management (PTM). Indeed, the pharmaceutical industry has witnessed the impact of innovative drug delivery and device technologies and their influence on business. PTM has given a new business insight with greater profits and enhancement of product franchise. Promising breakthrough technologies have not been able to reach a commercial platform largely owing to lack of capital at the preliminary stages of the product development program. Intellectual property plays a considerable role in protecting innovative technologies. Joint ventures and strategic alliances also become important for commercializing a new technology. The synergy of PTM with options of in-licensing is expected to infuse newer opportunities to the pharmaceutical business.

  6. There's no profiting from a joint venture misadventure.

    Science.gov (United States)

    Herschman, Gary W

    2004-10-01

    In St. David's vs. IRS, a not-for-profit health system effectively challenged the IRS's determination that the system should be disqualified from tax exemption because it had entered a 50/50 joint venture with a for-profit system. The court decisions in St. David's, coupled with a recent IRS ruling, Revenue Ruling 2004-51, provide insight into how a not-for-profit hospital can structure such a joint venture to avoid jeopardizing its tax-exempt status.

  7. Analisis Teknikal Untuk Mendapatkan Profit Dalam Forex Trading Online

    OpenAIRE

    Liyanto, .; Alwiyah, .

    2012-01-01

    Technical Analysis To Obtain Profit From Online Forex Trading. The purpose of the research is to find profitable consistency in predicting price movement, especially on pairs GBPUSD and EURUSD using candlestick, moving average convergence divergence (MACD) and stochastic oscillator as parts of technical analysis before taking an action whether to buy or to sell forex. The profit is calculated for every given buy-sell signal after considering transaction cost in the amount of spread. The desig...

  8. Investigating the effect of different factors on profitability

    Directory of Open Access Journals (Sweden)

    Mohsen Hamidian

    2014-11-01

    Full Text Available This paper presents an empirical investigation to study the effects of different factors influencing on profitability of shares of petrochemical industry. The study gathers the information of three firms whose stock prices were listed on Tehran Stock Exchange over the period 2006-2012. Using different regression analysis, the study has determined that while stock price, currency rate and material influence on profitability of these firms, energy price, liquidity and gold price had no impact on profitability in petrochemical industry.

  9. Benefits and Costs of For-Profit Public Education

    Directory of Open Access Journals (Sweden)

    Alex Molnar

    2001-04-01

    Full Text Available As a policy initiative, for-profit operation of public schools has not lived up to the claims of its proponents. An examination of issues such as teaching methods, academic achievement, autonomy, local control, and the image and influence of for-profit public schools suggests that "for-profits" are unlikely to succeed in the long term in improving the overall quality of public education. They do, however, seem capable of harming public schools.

  10. Components of the Profitability of Technical Currency Trading

    OpenAIRE

    Schulmeister, Stephan

    2005-01-01

    This paper investigates the sources of the profitability of 1024 moving average and momentum models when trading in the German mark (euro)/U.S. dollar market based on daily data. The main results are as follows. First, each of these models would have been profitable over the entire sample period. Second, this profitability is exclusively due to the exploitation of persistent exchange rate trends. Third, these results do not change substantially when trading is examined within subperiods. Four...

  11. Risk Sharing and Layoff Risk in Profit Sharing

    OpenAIRE

    Fabella, Raul V.

    1995-01-01

    We show that if the employer is risk averse, however slightly, there is always a profit sharing contract that will Pareto-dominate the spot wage contract in the sense of pure risk sharing. The smaller is the employer risk aversion, the narrower is the room for profit sharing. The higher the workers value employment stability (less layoff risk), the more Pareto attractive is profit sharing regardless of employer risk aversion.

  12. Rates of profit as correlated sums of random variables

    Science.gov (United States)

    Greenblatt, R. E.

    2013-10-01

    Profit realization is the dominant feature of market-based economic systems, determining their dynamics to a large extent. Rather than attaining an equilibrium, profit rates vary widely across firms, and the variation persists over time. Differing definitions of profit result in differing empirical distributions. To study the statistical properties of profit rates, I used data from a publicly available database for the US Economy for 2009-2010 (Risk Management Association). For each of three profit rate measures, the sample space consists of 771 points. Each point represents aggregate data from a small number of US manufacturing firms of similar size and type (NAICS code of principal product). When comparing the empirical distributions of profit rates, significant ‘heavy tails’ were observed, corresponding principally to a number of firms with larger profit rates than would be expected from simple models. An apparently novel correlated sum of random variables statistical model was used to model the data. In the case of operating and net profit rates, a number of firms show negative profits (losses), ruling out simple gamma or lognormal distributions as complete models for these data.

  13. Alternative quality measures and profitability of hospital inpatient services offered.

    Science.gov (United States)

    Self, Donald R; Hegji, Charles E; Self, Robin M

    2010-01-01

    In this analysis, we study the relationship between hospital quality and hospital profits for a sample of 88 Alabama (USA) hospitals. Quality is measured by three groups of procedures performed on newly admitted patients as suggested by the Center for Medicare and Medicaid Services and the Health Quality Alliance (HQA) as well as a weighted quality measure. Profit is measured for eight hospital services. Profits from cardiac care were most responsive to the quality measures studied. Moreover, profits from six of the inpatient services increased as the weighted quality measure increased. Finally, in two cases quality increased with the relative number of employees a hospital utilized.

  14. Computational sciences in the upstream oil and gas industry.

    Science.gov (United States)

    Halsey, Thomas C

    2016-10-13

    The predominant technical challenge of the upstream oil and gas industry has always been the fundamental uncertainty of the subsurface from which it produces hydrocarbon fluids. The subsurface can be detected remotely by, for example, seismic waves, or it can be penetrated and studied in the extremely limited vicinity of wells. Inevitably, a great deal of uncertainty remains. Computational sciences have been a key avenue to reduce and manage this uncertainty. In this review, we discuss at a relatively non-technical level the current state of three applications of computational sciences in the industry. The first of these is seismic imaging, which is currently being revolutionized by the emergence of full wavefield inversion, enabled by algorithmic advances and petascale computing. The second is reservoir simulation, also being advanced through the use of modern highly parallel computing architectures. Finally, we comment on the role of data analytics in the upstream industry.This article is part of the themed issue 'Energy and the subsurface'. © 2016 The Author(s).

  15. Turbulent junction flow with an upstream ribbed surface

    Energy Technology Data Exchange (ETDEWEB)

    Kairouz, Khalil A. [Center for Energy and Environmental, Research and Services (CEERS), Department of Mechanical and Aerospace Engineering, California State University, Long Beach, CA 90840 (United States); Rahai, Hamid R. [Center for Energy and Environmental, Research and Services (CEERS), Department of Mechanical and Aerospace Engineering, California State University, Long Beach, CA 90840 (United States)]. E-mail: rahai@csulb.edu

    2005-10-01

    Results of experimental investigations of the effects of an upstream longitudinal triangular ribbed surface on a turbulent junction flow and downstream wake are presented. The ribbed plate was placed right upstream of the wing on the flat plate surface, covering a 10 x 38 cm{sup 2} area. The junction flow was developed using a NACA0012 airfoil mounted normal to a flat plate downstream of its leading edge. The experiments were carried out at a free stream mean velocity of 31 m/s. which corresponds to a unit Reynolds number of 1.8 x 10{sup 6} and the airfoil chord length Reynolds number of 5.4 x 10{sup 5}. Measurements were carried out at four control planes of 50%, 100%, 133%, and 166% of the wing chord length. Results show that the riblets displace the location of the horseshoe vortex away from the corner and reduce its strength. There are significant reductions in mean streamwise circulation downstream at 133% and 166% planes.

  16. The effects of upstream plasma properties on Titan's ionosphere

    Science.gov (United States)

    Ledvina, S. A.; Brecht, S. H.

    2016-12-01

    Cassini observations have found that the plasma and magnetic field conditions upstream of Titan are far more complex than they were thought to be after the Voyager encounter. Rymer et al., (2009) used the Cassini Plasma Spectrometer (CAPS) electron observations to classify the plasma conditions along Titan's orbit into 5 types (Plasma Sheet, Lobe, Mixed, Magnetosheath and Misc.). Nemeth et al., (2011) found that the CAPS ion observations could also be separated into the same plasma regions as defined by Rymer et al. Additionally the T-96 encounter found Titan in the solar wind adding a sixth classification. Understanding the effects of the variable upstream plasma conditions on Titan's plasma interaction and the evolution of Titan's ionosphere/atmosphere is one of the main objectives of the Cassini mission. To compliment the mission we perform hybrid simulations of Titan's plasma interaction to examine how the properties of the incident plasma (composition, density, temperature etc…) affect Titan's ionosphere. We examine how much ionospheric plasma is lost from Titan as well as the amount of mass and energy deposited into Titan's atmosphere.

  17. On maximizing profit of wind-battery supported power station based on wind power and energy price forecasting

    DEFF Research Database (Denmark)

    Khalid, Muhammad; Aguilera, Ricardo P.; Savkin, Andrey V.

    2017-01-01

    This paper proposes a framework to develop an optimal power dispatch strategy for grid-connected wind power plants containing a Battery Energy Storage System (BESS). Considering the intermittent nature of wind power and rapidly varying electricity market price, short-term forecasting...... Dynamic Programming tool which can incorporate the predictions of both wind power and market price simultaneously as inputs in a receding horizon approach. The proposed strategy is validated using real electricity market price and wind power data in different scenarios of BESS power and capacity...... of these variables is used for efficient energy management. The predicted variability trends in market price assist in earning additional income which subsequently increase the operational profit. Then on the basis of income improvement, optimal capacity of the BESS can be determined. The proposed framework utilizes...

  18. Profiles of higher earning wives in Hong Kong and the implications for marital satisfaction.

    Science.gov (United States)

    Zhang, Huiping; Law, Frances Yik Wa; Hu, Debao; Fan, Susan; Yip, Paul Siu Fai

    2015-01-01

    Higher earning wives are emerging as a global phenomenon; however, the profiles of higher earning wives and the implications for marital satisfaction remain unknown in Hong Kong. On the basis of a representative household survey of 689 Hong Kong Chinese couples in 2012, this study aimed to explore the profiles of higher earning wives in Hong Kong and examine the effect of wives' income advantage on the couples' marital satisfaction. Results indicated that higher earning wives were clustered into 2 groups. One group of higher earning wives was older, was better educated, held managerial and professional jobs, and lived in high-income families compared with lower earning wives. The other group of higher earning wives was not well educated, held nonprofessional jobs, and lived in low-income families. Higher earning wives reported similar marital satisfaction with lower earning wives as well as their husbands. However, higher earning wives with nonprofessional jobs and from low-income families reported lower life and marital satisfaction than did those with better socioeconomic status. The implications of these findings are discussed.

  19. The relationship of CSR and the business profit: can the most responsible companies be more profitable?

    Directory of Open Access Journals (Sweden)

    Antonio Miguel Gil Salmerón

    2016-10-01

    Full Text Available Persistent financial crisis and the cases of corruption afflicting Spain have broken the trust of society that forcefully demands an ethical, responsible and sustainable management of organizations, which are not immune to environmental problems. The effects of globalization, the introduction of tecnoestructura as a management model, technological and socio-economic changes have reshaped the cultural, management and ownership system of the current company, the company nowadays is transferred the responsibility to combine growth and competitiveness with social development and environmental improvement. This reconfiguration of business management model is implemented with the introduction of Corporate Social Responsibility (CSR in the strategic plans of the companies with the purpose of achieving a competitive advantage. The question is: can the most responsible companies be more profitable? The introduction of CSR in the organizational culture of the companies involved as a vector, accelerates the profitability of the companies that apply it: the higher level of CSR used, the more profitable the companies are. These conclusions are determined from a linear regression analysis comparing the ROA –return on assets– to CSR levels in a hundred companies with higher levels of sustainability that operate in Spain, according to a survey published in 2014 by the Monitor business Corporate Reputation (Merco

  20. Evaluating Banking Profit Performance in Ghana during and post Profit Decline: A five Step Du-Pont Approach

    Directory of Open Access Journals (Sweden)

    Baah Aye Kusi

    2015-11-01

    Full Text Available In this study we aimed at three objectives. First, identify and rank banks based on a composite score comprising of all five du-pont variables. Second, we identify variables in the five step du-pont set up that are most likely to influence bank ROE during and post profit declining periods. And third, we estimate a model to capture the variables that drive bank ROE during and post profit declining periods. We first establish from our rankings that, foreign banks in Ghana performed better during profit declining periods while the local banks performed better in post profit decline periods using the top ten banks as a benchmark in both periods. Employing Pearson correlation coefficients matrix, we recognized that operating profit margin, asset turnover and leverage were most likely to influence bank ROE in both time periods. We further employ OLS regression and find that bank ROE was impacted by operating profit margin and leverage during profit declining periods and post profit decline while tax effect added up in post profit declining periods.

  1. PENGARUH PREMANAGED EARNINGS DAN DIVIDEN YANG DIHARAPKAN TERHADAP PRAKTIK MANAJEMEN LABA

    Directory of Open Access Journals (Sweden)

    Rosalia Anita Wibiksono

    2015-06-01

    Full Text Available This study aims to determine whether the companies paying dividend in the previous year (payers are more likely to perform earnings management than companies that do not (non-payers in order to meet the expected dividend. The study also examines the impact of premanaged earnings and expected dividend on earnings management practices. Sample used in this research are manufacturing companies listed in Indonesia Stock Exchange in 2010-2012. The findings suggest that there is a significant negative relationship between premanaged earnings and discretionary accruals, and a significant positive relationship between the expected dividends and discretionary accruals. This study concludes that dividend is important determinant of earnings thresholds. However, dividend is not a unique motivation to perform earnings management.

  2. Operating Profitability of For-Profit and Not-for-Profit Florida Community Hospitals During Medicare Policy Changes, 2000 to 2010

    National Research Council Canada - National Science Library

    Langland-Orban, Barbara; Large, John T; Sear, Alan M; Zhang, Hanze; Zhang, Nanhua

    2015-01-01

    ...) and not-for-profit (NFP) hospital operating margins in Florida. FP hospitals were expected to be more adversely affected as admissions growth has been one strategy to improve stock performance, which is not a consideration at NFPs...

  3. Thinking Upstream: A 25-Year Retrospective and Conceptual Model Aimed at Reducing Health Inequities.

    Science.gov (United States)

    Butterfield, Patricia G

    Thinking upstream was first introduced into the nursing vernacular in 1990 with the goal of advancing broad and context-rich perspectives of health. Initially invoked as conceptual framing language, upstream precepts were subsequently adopted and adapted by a generation of thoughtful nursing scholars. Their work reduced health inequities by redirecting actions further up etiologic pathways and by emphasizing economic, political, and environmental health determinants. US health care reform has fostered a much broader adoption of upstream language in policy documents. This article includes a semantic exploration of thinking upstream and a new model, the Butterfield Upstream Model for Population Health (BUMP Health).

  4. Effect of Financing on Profitability of Sawmill Industries in Cross ...

    African Journals Online (AJOL)

    This study examined the Effect of Financing on Profitability of Sawmill Industries in Cross River State, Nigeria. The study was conducted at enterprise level in Cross River State with a sample of 80 saw millers to ascertain the effect of finance on their profitability. The result shows that amount borrowed business experience, ...

  5. Methods utilized in evaluating the profitability of commercial space processing

    Science.gov (United States)

    Bloom, H. L.; Schmitt, P. T.

    1976-01-01

    Profitability analysis is applied to commercial space processing on the basis of business concept definition and assessment and the relationship between ground and space functions. Throughput analysis is demonstrated by analysis of the space manufacturing of surface acoustic wave devices. The paper describes a financial analysis model for space processing and provides key profitability measures for space processed isoenzymes.

  6. The relationship between size, growth and profitability of commercial banks

    NARCIS (Netherlands)

    Shehzad, C. T.; De Haan, J.; Scholtens, B.

    2013-01-01

    Using a dynamic panel model for more than 15 000 banks from 148 countries from 1988 to 2010, we investigate the interaction between size, growth and profitability of banks. For our total sample, we cannot reject the hypotheses that the variability of bank profitability and the level and variability

  7. Analysis of profitability and poverty reduction of yoghurt processing ...

    African Journals Online (AJOL)

    The study assessed the profitability of yoghurt processing with a view of determining its potentials for reducing poverty in Maiduguri Metropolitan Area. Data were collected from a survey of 10 yoghurt processing firms in Maiduguri and analysed using profit model and descriptive statistics. Results revealed that yoghurt ...

  8. A method for predicting the probability of business network profitability

    NARCIS (Netherlands)

    Johnson, P.; Iacob, Maria Eugenia; Välja, M.; van Sinderen, Marten J.; Magnusson, C; Ladhe, T.

    2014-01-01

    In the design phase of business collaboration, it is desirable to be able to predict the profitability of the business-to-be. Therefore, techniques to assess qualities such as costs, revenues, risks, and profitability have been previously proposed. However, they do not allow the modeler to properly

  9. Comparative Analysis of Profitability of Layers Production in Esan ...

    African Journals Online (AJOL)

    MICHAEL HORSFALL

    agricultural sector are rational, thus, they would increase their supply if they are sure of making higher profit ceteris paribus (Emokaro et al., 2009). Higher profit ..... Energy and Crude Protein Requirements for. Chicks of Nigeria Local Fowl and Crossbreeds. Int. J. Poult. Sci., 5:.271-274. Koutsoyiannis, A (2001). Theory of ...

  10. Summer 2012 Colorado Wildfire Non-Profit Sector Case Study

    Science.gov (United States)

    2012-11-01

    include commercial losses. Rocky Mountain Insurance Information Association is a non-profit consumer information organization . Affiliated with the...million. These estimates do not include commercial losses. Rocky Mountain Insurance Information Association is a non-profit consumer information ... organization . Affiliated with the Insurance Information Institute, RMIIA has been serving consumers and the media since 1952. 22 5.0 Observations

  11. Determinant of Profit Efficiency among Small Scale Traditional Palm ...

    African Journals Online (AJOL)

    This study was designed to examine the determinants of profit efficiency among traditional palm oil processing in Nigeria, using stochastic Cobb – Douglas profit frontier model. A Multi – Stage random sampling technique was used to select 240 traditional palm oil processors from which input – output data were collected.

  12. The implementation of customer profitability analysis: a case study

    NARCIS (Netherlands)

    van Raaij, E.M.; Vernooij, M.J.A.; Vernooij, Maarten J.A.; van Triest, S.P.

    2003-01-01

    By using customer profitability analysis (CPA), firms can determine the profit contribution of customer segments and/or individual customers. This article presents an approach for the implementation of CPA. The implementation process is illustrated using a case study of a firm producing and selling

  13. How's Business? Status Report #6 on For Profit Child Care.

    Science.gov (United States)

    Neugebauer, Roger

    1990-01-01

    Describes the growth of for-profit child care and indications of a potential slowdown. Discusses the declining expansion of major chains and the accelerated growth of midsize and small chains. Lists the nations' largest for-profit child care and center management organizations. (RJC)

  14. Profitability Analysis of Rice Processing and Marketing in Kano State ...

    African Journals Online (AJOL)

    ABSTRACT: The study determined the profitability of rice processing and marketing in Kano. State. The objective of the study was to assess the profitability levels of rice processing and marketing, evaluate the value added to the commodity at each stage in the study area and determine the most efficient services produce.

  15. Refined analysis results for multimedia network costs and profits

    DEFF Research Database (Denmark)

    Tahkokorpi, M.; Falch, Morten; Skouby, Knud Erik

    This deliverable describes the techno-economic business model developed in EURORIM WP3 and presents the refined results of the multimedia service delivery cost-profit calculations......This deliverable describes the techno-economic business model developed in EURORIM WP3 and presents the refined results of the multimedia service delivery cost-profit calculations...

  16. 45 CFR 74.81 - Prohibition against profit.

    Science.gov (United States)

    2010-10-01

    ... ORGANIZATIONS, AND COMMERCIAL ORGANIZATIONS Special Provisions for Awards to Commercial Organizations § 74.81 Prohibition against profit. Except for awards under the Small Business Innovation Research (SBIR) and Small... to any recipient even if the recipient is a commercial organization. Profit is any amount in excess...

  17. Academic Libraries in For-Profit Schools of Higher Education

    Science.gov (United States)

    Davis, Jinnie Y.; Adams, Mignon; Hardesty, Larry

    2011-01-01

    For-profit schools constitute the fastest-growing sector of higher education institutions in the United States. Yet accompanying the phenomenal growth of these proprietary colleges and universities has been considerable controversy over the role that the profit motive should play in higher education. The literature of higher education contains…

  18. The Nigerian Statements of Accounting Standards and Ribh (Profit ...

    African Journals Online (AJOL)

    However, the subject, profit (ribh), in relation to both conventional and Islamic accounting standards, has almost totally been neglected. This paper, therefore, investigates the determination of profit in line with the Nigerian Statements of Accounting Standards (SAS), conventional economics and Islamic economic ...

  19. 48 CFR 2115.404-71 - Profit analysis factors.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Profit analysis factors... TYPES CONTRACTING BY NEGOTIATION Contract Pricing 2115.404-71 Profit analysis factors. (a) The OPM... (service charge) for the FEGLI Program contract. In accordance with the factors defined in FAR 15.404-4(d...

  20. Management Control Systems in Not for Profit Organization

    OpenAIRE

    De La Cruz Marquez, Michelle

    2008-01-01

    The diploma thesis is about management control system. The first part contains the analysis of the subject, the factors, components and tools of management control. In the second part is about the difference of management control in profit and non-profit organizations.

  1. 26 CFR 509.105 - Industrial and commercial profits.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 19 2010-04-01 2010-04-01 false Industrial and commercial profits. 509.105...) REGULATIONS UNDER TAX CONVENTIONS SWITZERLAND General Income Tax § 509.105 Industrial and commercial profits... contracting States shall not be taxable by the other contracting State upon its industrial and commercial...

  2. Risk attitudes and profits among small enterprises in Nigeria

    NARCIS (Netherlands)

    Lammers, J.; Willebrands, D.; Hartog, J.

    2010-01-01

    This paper analyses the effect of risk attitudes of firm owners on profits among micro and small enterprises (MSEs) in Lagos, Nigeria. Higher risk perceptions are shown to have a significant positive effect on profits, whereas risk propensity has a negative or no effect. Education, age, being male,

  3. Profitability of cover crops for single and twin row cotton

    Science.gov (United States)

    With the increased interest in cover crops, the impact of adoption on profitability of cash crops is a common question from producers. The objective of this study was to evaluate the profitability of cover crops for single and twin row cotton (Gossypium hirsutum L.) in Alabama. This experiment inclu...

  4. Application of relationship marketing in non-profit organisations ...

    African Journals Online (AJOL)

    The concept of relationship marketing was born from this need for long-term interaction with customers. A variety of factors have over time contributed to a need for marketing in non-profit organisations, such as non-profit sports clubs and recreation centres at local and school levels, to offset the decrease in income and ...

  5. Short Term Effect of Consolidation on Profitability of Nigerian Banks ...

    African Journals Online (AJOL)

    The findings here confirm the existing controversy on whether or not mergers or acquisitions lead to improved profitability. What is however clear is that barring any effect of the present global economic meltdown; it may take some time for the EPS of most of the banks to change significantly. Key Words: EPS Profitability ...

  6. Profitability analysis of plantain marketing in Kaduna metropolis ...

    African Journals Online (AJOL)

    Descriptive statistics, Cost and return analysis, Herfindahl index, Gross ratio, Operating ratio, Expense structure ratio, Return per capital invested, Benefit cost ratio were used to analyze the data. The study showed that ... Analysis of the profit revealed that plantain marketing is a profitable business. The constraint militating ...

  7. Management and socio-economic determinants of profitability in dog ...

    African Journals Online (AJOL)

    Management and socio-economic determinants of profitability in dog breeding business in Oyo state, Nigeria. ... Descriptive statistics, univariate and multivariable analyses were done to determine predictors of profitability in dog breeding business. The mean age of respondents was 32.1 ± 7.7 years. The median year of ...

  8. Acquisition of the Profit Concept by Third-Grade Children.

    Science.gov (United States)

    Berti, Anna Emilia

    1992-01-01

    Conceptions of 50 third graders (aged 8-9 years) in Italy about shopkeepers' profit were examined using the Piagetian clinical procedure, with an interview followed by a comparison task that checked comprehension. Teaching children about profit had a higher impact at posttest on children who could compare correctly. (SLD)

  9. Distribution of Costs and Profits in Danish Urban Development

    DEFF Research Database (Denmark)

    Sørensen, Michael Tophøj; Christensen, Finn Kjær

    2009-01-01

    Most countries have a system – procedures and tools – for foreseeable, clear and fair distribution of costs and profits in urban development. However, the distribution of profits and costs between the municipality and the developers /landowners is in Denmark rather fragmented and not very transpa...

  10. Macroeconomy and Banks' Profitability in Nigeria | Chidozie | African ...

    African Journals Online (AJOL)

    It also seeks to examine the significance of microeconomic variables (cost to income ratio, loan to deposit ratio; loan to total assets ratio and total assets) on banks' profitability. It analysed the impact of banking industry concentration on banks' profitability. The estimation technique follows a panel regression which studied a ...

  11. Interactive Learning-driven Innovation in Upstream-Downstream Relations

    DEFF Research Database (Denmark)

    Machikita, Tomohiro; Ueki, Yasushi

    2012-01-01

    with new technologies and new markets. However, this is not true for simple improvement of products or process innovation. Mutual exchanges with engineers between producers and suppliers within a chain can be expected to play an important role in the case of costly innovation and in situations unknown......This paper presents a simple framework of the innovations that result from interfirm learning through exchanges of engineers in upstream-downstream relations within a production chain. To examine the framework, we empirically investigate the impact of mutual knowledge exchanges on product...... and process innovation using a survey of firm's self-reporting customer and supplier data in Indonesia, the Philippines, Thailand and Vietnam. Evidence from interconnected firms within a production chain suggests that firms with mutual exchanges between engineers and customers achieved product innovations...

  12. Hitchhiking behaviour in the obligatory upstream migration of amphidromous snails

    Science.gov (United States)

    Kano, Yasunori

    2009-01-01

    Migratory animals endure high stress during long-distance travel in order to benefit from spatio-temporally fluctuating resources, including food and shelter or from colonization of unoccupied habitats. Along with some fishes and shrimps, nerite snails in tropical to temperate freshwater systems are examples of amphidromous animals that migrate upstream for growth and reproduction after a marine larval phase. Here I report, to my knowledge, the first example of ‘hitchhiking’ behaviour in the obligatory migration of animals: the nerite snail Neritina asperulata appears to travel several kilometres as minute juveniles by firmly attaching to the shells of congeneric, subadult snails in streams of Melanesian Islands, presumably to increase the success rate of migration. PMID:19411267

  13. Shape and shear guide sperm cells spiraling upstream

    Science.gov (United States)

    Kantsler, Vasily; Dunkel, Jorn; Goldstein, Raymond E.

    2014-11-01

    A major puzzle in biology is how mammalian sperm determine and maintain the correct swimming direction during the various phases of the sexual reproduction process. Currently debated mechanisms for sperm long range travel vary from peristaltic pumping to temperature sensing (thermotaxis) and direct response to fluid flow (rheotaxis), but little is known quantitatively about their relative importance. Here, we report the first quantitative experimental study of mammalian sperm rheotaxis. Using microfluidic devices, we investigate systematically the swimming behavior of human and bull sperm over a wide range of physiologically relevant shear rates and viscosities. Our measurements show that the interplay of fluid shear, steric surface-interactions and chirality of the flagellar beat leads to a stable upstream spiraling motion of sperm cells, thus providing a generic and robust rectification mechanism to support mammalian fertilization. To rationalize these findings, we identify a minimal mathematical model that is capable of describing quantitatively the experimental observations.

  14. Accounting ethics – an empirical investigation of managing short-term earnings

    OpenAIRE

    Leonie Jooste

    2011-01-01

    Short-term earnings are managed in most, if not all, companies. The management of short-term earnings is vulnerable to misinterpretation, manipulation or deliberate deception even if these misleading accounting practices are prohibited by accounting regulations. Hence, the problem with managing short-term earnings is that it becomes an ethical practice, regardless of who is or may be affected by the practice or the information that flows from it. As a result of the publicity received by Enron...

  15. The Effects of Migration and Training on Post-Service Earnings of All- Volunteer Force Veterans

    Science.gov (United States)

    1990-06-01

    with military service. Daymont and Andrisani [Ref. 6] investigated the earnings trajectories of veterans and non-veterans. They used the NLSY to...exceed civilian earnings within two or three years after discharge from the service. Daymont and Andrisani argue that the conditions which generally...on civilian earnings. This result is similar to the previous results obtained by Daymont and Andrisani [Ref. 61, who used the NLSY survey. When

  16. Impact of external job mobility and occupational job mobility on earnings

    OpenAIRE

    Chan Wai Wong; Ming Yu Cheng; Teck Chai Lau

    2016-01-01

    Purpose: The purpose of the study is to examine the relationship between external job mobility and occupational job mobility on earnings among engineers in Malaysia. Design/methodology/approach: Using curricular vitae data from a job agency, this paper tracks job mobility through job histories and examine how it affects earnings. Findings: Results obtained from regression analysis indicate that higher external job mobility will contribute to higher earnings, but occupational mo...

  17. Deteksi Perbandingan Ekses Volatilitas Harga Serta Reaksi Earning terhadap Return & Harga Saham Sektor Lq45

    OpenAIRE

    Setyawan, I. Roni; Sudarto

    2006-01-01

    This paper examines the validity of Efficient Market Hypothesis (EMH) valuation model through stock price volatility and earning volatility excesses. Our research also analyzes stock price reaction to earning. Based on existence of stock price mispricing; there is no investor who will obtain abnormal return if we follow EMH. We find JS is not efficient. Over the observation periods; investors have more concerned with stock market volatility than earning quality. Specifically they have remaine...

  18. Wage trends in post-apartheid South Africa: Constructing an earnings series from household survey data

    OpenAIRE

    Rulof Burger; Derek Yu

    2006-01-01

    This paper examines South African wage earnings trends using all the available post-1994 household survey datasets. This allows us to identify and address the sources of data inconsistencies across surveys in order to construct a more comparable earnings time series. Taking account of the inconsistencies in questionnaire design and the presence of outliers, we find that it is possible to construct a fairly stable earnings series for formal sector employees. We find that claims that workers ha...

  19. Explosion Clad for Upstream Oil and Gas Equipment

    Science.gov (United States)

    Banker, John G.; Massarello, Jack; Pauly, Stephane

    2011-01-01

    Today's upstream oil and gas facilities frequently involve the combination of high pressures, high temperatures, and highly corrosive environments, requiring equipment that is thick wall, corrosion resistant, and cost effective. When significant concentrations of CO2 and/or H2S and/or chlorides are present, corrosion resistant alloys (CRA) can become the material of choice for separator equipment, piping, related components, and line pipe. They can provide reliable resistance to both corrosion and hydrogen embrittlement. For these applications, the more commonly used CRA's are 316L, 317L and duplex stainless steels, alloy 825 and alloy 625, dependent upon the application and the severity of the environment. Titanium is also an exceptional choice from the technical perspective, but is less commonly used except for heat exchangers. Explosion clad offers significant savings by providing a relatively thin corrosion resistant alloy on the surface metallurgically bonded to a thick, lower cost, steel substrate for the pressure containment. Developed and industrialized in the 1960's the explosion cladding technology can be used for cladding the more commonly used nickel based and stainless steel CRA's as well as titanium. It has many years of proven experience as a reliable and highly robust clad manufacturing process. The unique cold welding characteristics of explosion cladding reduce problems of alloy sensitization and dissimilar metal incompatibility. Explosion clad materials have been used extensively in both upstream and downstream oil, gas and petrochemical facilities for well over 40 years. The explosion clad equipment has demonstrated excellent resistance to corrosion, embrittlement and disbonding. Factors critical to insure reliable clad manufacture and equipment design and fabrication are addressed.

  20. THE PROFIT TARGET IN A RESTAURATION UNIT

    Directory of Open Access Journals (Sweden)

    Briciu Sorin

    2011-12-01

    Full Text Available The hospitality industry represents one of the most dynamic sectors of the contemporary society, with an emphasised role in the process of globalization. Currently, the hospitality industry does not only face the challenges of the economic crisis but the changes in the market, the consumers behaviour and the technological trends, too. That is why, in this time, it is extremely important to apply the management accounting and the cost calculation in any entity in the hospitality industry in order to cope with the market challenges. The main services are performed through the hospitality industry: the accommodation and the restauration. These services satisfy the vital needs of the tourists, but this industry must meet other needs or requests such as the acknowledgement of the social status, the desire to know other cultures or traditions, to spend free time in a pleasant manner etc. Our intention and goal in the current article is to approach an image of the CVP analysis in the decision making process with an emphasis on the restauration in the hospitality industry. In order to cope with this critical time, the competition and to achieve the profits estimated, the managers in the hospitality industry can apply the CVP analysis, one of the simplest and most useful analytical instruments. The paper will tackle with the problem of the break even point in a restaurant, one of the main indicators of the CVP model and also the possibility of the decision making process orientation.