Aligning off-balance sheet risk, on-balance sheet risk and audit fees: a PLS path modelling analysis

This study focuses on using the partial least squares (PLS) path modelling methodology in archival auditing research by replicating the data and research questions from prior bank audit fee studies. PLS path modelling allows for inter-correlations among audit fee determinants by establishing latent constructs and multiple relationship paths in one simultaneous PLS path model. Endogeneity concerns about auditor choice can also be addressed with PLS path modelling. With a sample of US bank holding companies for the period 2003-2009, we examine the associations among on-balance sheet financial risks, off-balance sheet risks and audit fees, and also address the pervasive client size effect, and the effect of the self-selection of auditors. The results endorse the dominating effect of size on audit fees, both directly and indirectly via its impacts on other audit fee determinants. By simultaneously considering the self-selection of auditors, we still find audit fee premiums on Big N auditors, which is the second important factor on audit fee determination. On-balance-sheet financial risk measures in terms of capital adequacy, loan composition, earnings and asset quality performance have positive impacts on audit fees. After allowing for the positive influence of on-balance sheet financial risks and entity size on off-balance sheet risk, the off-balance sheet risk measure, SECRISK, is still positively associated with bank audit fees, both before and after the onset of the financial crisis. The consistent results from this study compared with prior literature provide supporting evidence and enhance confidence on the application of this new research technique in archival accounting studies.

Homing by path integration when a locomotion trajectory crosses itself

Path integration is a process with which navigators derive their current position and orientation by integrating self-motion signals along a locomotion trajectory. It has been suggested that path integration becomes disproportionately erroneous when the trajectory crosses itself. However, there is a possibility that this previous finding was confounded by effects of the length of a traveled path and the amount of turns experienced along the path, two factors that are known to affect path integration performance. The present study was designed to investigate whether the crossover of a locomotion trajectory truly increases errors of path integration. In an experiment, blindfolded human navigators were guided along four paths that varied in their lengths and turns, and attempted to walk directly back to the beginning of the paths. Only one of the four paths contained a crossover. Results showed that errors yielded from the path containing the crossover were not always larger than those observed in other paths, and the errors were attributed solely to the effects of longer path lengths or greater degrees of turns. These results demonstrated that path crossover does not always cause significant disruption in path integration processes. Implications of the present findings for models of path integration are discussed.

Creative arts research : a long path to acceptance

The majority of tertiary practice-led creative arts disciplines became part of the Australian university system as a result of the creation of the Unified National System of tertiary education in 1988. Over the past two decades, research has grown as the yardstick by which academic performance in the Australian university sector is recognised and rewarded. Academics in artistic disciplines, who struggled to adapt to a culture and workload expectations different from their previous, predominantly teaching based, employment, continue to see their research under-valued within the established evaluation framework. Despite a late 1990s Australian government funded inquiry, many of the inequities remain. While the Excellence in Research in Australia (ERA) exercise has acknowledged the non-text outputs of artist-academics in its evaluation of 'research outcomes', much of the process remains resolutely framed by measures that work against creative arts researchers.

The plasticity of NBS resistance genes in sorghum is driven by multiple evolutionary processes

Background Increased disease resistance is a key target of cereal breeding programs, with disease outbreaks continuing to threaten global food production, particularly in Africa. Of the disease resistance gene families, the nucleotide-binding site plus leucine-rich repeat (NBS-LRR) family is the most prevalent and ancient and is also one of the largest gene families known in plants. The sequence diversity in NBS-encoding genes was explored in sorghum, a critical food staple in Africa, with comparisons to rice and maize and with comparisons to fungal pathogen resistance QTL. Results In sorghum, NBS-encoding genes had significantly higher diversity in comparison to non NBS-encoding genes and were significantly enriched in regions of the genome under purifying and balancing selection, both through domestication and improvement. Ancestral genes, pre-dating species divergence, were more abundant in regions with signatures of selection than in regions not under selection. Sorghum NBS-encoding genes were also significantly enriched in the regions of the genome containing fungal pathogen disease resistance QTL; with the diversity of the NBS-encoding genes influenced by the type of co-locating biotic stress resistance QTL. Conclusions NBS-encoding genes are under strong selection pressure in sorghum, through the contrasting evolutionary processes of purifying and balancing selection. Such contrasting evolutionary processes have impacted ancestral genes more than species-specific genes. Fungal disease resistance hot-spots in the genome, with resistance against multiple pathogens, provides further insight into the mechanisms that cereals use in the “arms race” with rapidly evolving pathogens in addition to providing plant breeders with selection targets for fast-tracking the development of high performing varieties with more durable pathogen resistance.

Not drowning, (hand)waving? Molecular phylogenetics, biogeography and evolutionary tempo of the ‘Gondwanan’ midge Stictocladius Edwards (Diptera: Chironomidae)

Many insect clades, especially within the Diptera (true flies), have been considered classically ‘Gondwanan’, with an inference that distributions derive from vicariance of the southern continents. Assessing the role that vicariance has played in the evolution of austral taxa requires testing the location and tempo of diversification and speciation against the well-established predictions of fragmentation of the ancient super-continent. Several early (anecdotal) hypotheses that current austral distributions originate from the breakup of Gondwana derive from studies of taxa within the family Chironomidae (non-biting midges). With the advent of molecular phylogenetics and biogeographic analytical software, these studies have been revisited and expanded to test such conclusions better. Here we studied the midge genus Stictocladius Edwards, from the subfamily Orthocladiinae, which contains austral-distributed clades that match vicariance-based expectations. We resolve several issues of systematic relationships among morphological species and reveal cryptic diversity within many taxa. Time-calibrated phylogenetic relationships among taxa accorded partially with the predicted tempo from geology. For these apparently vagile insects, vicariance-dated patterns persist for South America and Australia. However, as often found, divergence time estimates for New Zealand at c. 50 mya post-date separation of Zealandia from Antarctica and the remainder of Gondwana, but predate the proposed Oligocene ‘drowning’ of these islands. We detail other such ‘anomalous’ dates and suggest a single common explanation rather than stochastic processes. This could involve synchronous establishment following recovery from ‘drowning’ and/or deleteriously warming associated with the mid-Eocene climatic optimum (hence ‘waving’, which refers to cycles of drowning events) plus new availability of topography providing of cool running waters, or all these factors in combination. Alternatively a vicariance explanation remains available, given the uncertain duration of connectivity of Zealandia to Australia–Antarctic–South America via the Lord Howe and Norfolk ridges into the Eocene.

Selection procedures for module discovery : exploring evolutionary algorithms for cognitive science

Evolutionary algorithms are playing an increasingly important role as search methods in cognitive science domains. In this study, methodological issues in the use of evolutionary algorithms were investigated via simulations in which procedures were systematically varied to modify the selection pressures on populations of evolving agents. Traditional roulette wheel, tournament, and variations of these selection algorithms were compared on the “needle-in-a-haystack” problem developed by Hinton and Nowlan in their 1987 study of the Baldwin effect. The task is an important one for cognitive science, as it demonstrates the power of learning as a local search technique in smoothing a fitness landscape that lacks gradient information. One aspect that has continued to foster interest in the problem is the observation of residual learning ability in simulated populations even after long periods of time. Effective evolutionary algorithms balance their search effort between broad exploration of the search space and in-depth exploitation of promising solutions already found. Issues discussed include the differential effects of rank and proportional selection, the tradeoff between migration of populations towards good solutions and maintenance of diversity, and the development of measures that illustrate how each selection algorithm affects the search process over generations. We show that both roulette wheel and tournament algorithms can be modified to appropriately balance search between exploration and exploitation, and effectively eliminate residual learning in this problem.

Numerical investigation of upstream fuel injection through porous media for scramjet engines via surrogate-assisted evolutionary algorithms

A multi-objective design optimization study has been conducted for upstream fuel injection through porous media applied to the first ramp of a two-dimensional scramjet intake. The optimization has been performed by coupling evolutionary algorithms assisted by surrogate modeling and computational fluid dynamics with respect to three design criteria, that is, the maximization of the absolute mixing quantity, total pressure saving, and fuel penetration. A distinct Pareto optimal front has been obtained, highlighting the counteracting behavior of the total pressure against the mixing efficiency and fuel penetration. The injector location and size have been identified as the key design parameters as a result of a sensitivity analysis, with negligible influence of the porous properties in the configurations and conditions considered in the present study. Flowfield visualization has revealed the underlying physics associated with the effects of these dominant parameters on the shock structure and intensity.

Identifying weak linear features with the "coalescing shortest path image transform"

The detection of line-like features in images finds many applications in microanalysis. Actin fibers, microtubules, neurites, pilis, DNA, and other biological structures all come up as tenuous curved lines in microscopy images. A reliable tracing method that preserves the integrity and details of these structures is particularly important for quantitative analyses. We have developed a new image transform called the "Coalescing Shortest Path Image Transform" with very encouraging properties. Our scheme efficiently combines information from an extensive collection of shortest paths in the image to delineate even very weak linear features. © Copyright Microscopy Society of America 2011.

Tubule detection in testis images using boundary weighting and circular shortest path

In studies of germ cell transplantation, measureing tubule diameters and counting cells from different populations using antibodies as markers are very important. Manual measurement of tubule sizes and cell counts is a tedious and sanity grinding work. In this paper, we propose a new boundary weighting based tubule detection method. We first enhance the linear features of the input image and detect the approximate centers of tubules. Next, a boundary weighting transform is applied to the polar transformed image of each tubule region and a circular shortest path is used for the boundary detection. Then, ellipse fitting is carried out for tubule selection and measurement. The algorithm has been tested on a dataset consisting of 20 images, each having about 20 tubules. Experiments show that the detection results of our algorithm are very close to the results obtained manually. © 2013 IEEE.

Convergence-guaranteed time-varying RRT path planning for profiling floats in 4-Dimensional flow

This paper presents an extension to the Rapidly-exploring Random Tree (RRT) algorithm applied to autonomous, drifting underwater vehicles. The proposed algorithm is able to plan paths that guarantee convergence in the presence of time-varying ocean dynamics. The method utilizes 4-Dimensional, ocean model prediction data as an evolving basis for expanding the tree from the start location to the goal. The performance of the proposed method is validated through Monte-Carlo simulations. Results illustrate the importance of the temporal variance in path execution, and demonstrate the convergence guarantee of the proposed methods.

Practical path planning and obstacle avoidance for autonomous mowing

There is a need for systems which can autonomously perform coverage tasks on large outdoor areas. Unfortunately, the state-of-the-art is to use GPS based localization, which is not suitable for precise operations near trees and other obstructions. In this paper we present a robotic platform for autonomous coverage tasks. The system architecture integrates laser based localization and mapping using the Atlas Framework with Rapidly-Exploring Random Trees path planning and Virtual Force Field obstacle avoidance. We demonstrate the performance of the system in simulation as well as with real world experiments.

The land hoarding and land inspector dilemma in China : an evolutionary game theoretic perspective

China has experienced considerable economic growth since 1978, which was accompanied by unprecedented growth in urbanization and, more recently, by associated rising urban housing and land banking issues. One such issue is that of land hoarding - where real estate developers purchase land to hold unused in the rising market for a future lucrative sale, often several years later. This practice is outlawed in China, where land use is controlled by increasingly strengthened Government policies and inspectors. Despite this, land hoarding continues apace, with the main culprits being the developers and inspectors working subversively. This resembles a game between two players - the inspector and the developer - which provides the setting for this paper in developing an evolutionary game theory model to provide insights into dealing with the dilemmas faced by the players. The logic and dilemma of land banking strategy and illegal land banking issues are analysed, along with the land inspector’s role from a game theory perspective by determining the replication dynamic mechanism and evolutionary stable strategies under the various conditions that the players face. The major factors influencing the actions of land inspectors, on the other hand, are the costs of inspection, no matter if it is strict or indolent, conflict costs, and income and penalties from corruption. From this, it is shown that, when the net loss for corruption (income from corruption minus the penalties for corruption and cost of strict inspections) is less than the cost of strict inspections, the final evolutionary stable strategy of the inspectors is to carry out indolent inspections. Then, whether penalising developers for hoarding is severe or not, the evolutionary strategy for the developer is to hoard. The implications for land use control mechanisms and associated developer-inspector actions and counteractions are then examined in the light of the model's properties.

Autonomous vehicle path planning for persistence monitoring under uncertainty using Gaussian based Markov decision process

One of the main challenges facing online and offline path planners is the uncertainty in the magnitude and direction of the environmental energy because it is dynamic, changeable with time, and hard to forecast. This thesis develops an artificial intelligence for a mobile robot to learn from historical or forecasted data of environmental energy available in the area of interest which will help for a persistence monitoring under uncertainty using the developed algorithm.