Assessing Earnings Management in European Publicly Traded Firms

We investigate if investors may benefit from using the accruals quality measure to assess the level of earnings management exercised by firms when preparing their accounting statements. More earnings management is expected to be associated with high information asymmetry among stock market participants because it makes earnings information less precise, thus providing an information advantage to informed investors relative to liquidity traders. Our results based on a sample of European publicly traded firms are consistent with a positive association between earnings management and information asymmetry. However, given some previous studies suggesting that accruals based measures may be noisy indicators of earnings management we further develop and test a method to enhance the performance of accruals quality in detecting earnings management

Trajectory prediction uncertainty modelling for Air Traffic Management

The anticipated growth of air traffic worldwide requires enhanced Air Traffic Management (ATM) technologies and procedures to increase the system capacity, efficiency, and resilience, while reducing environmental impact and maintaining operational safety. To deal with these challenges, new automation and information exchange capabilities are being developed through different modernisation initiatives toward a new global operational concept called Trajectory Based Operations (TBO), in which aircraft trajectory information becomes the cornerstone of advanced ATM applications. This transformation will lead to higher levels of system complexity requiring enhanced Decision Support Tools (DST) to aid humans in the decision making processes. These will rely on accurate predicted aircraft trajectories, provided by advanced Trajectory Predictors (TP). The trajectory prediction process is subject to stochastic effects that introduce uncertainty into the predictions. Regardless of the assumptions that define the aircraft motion model underpinning the TP, deviations between predicted and actual trajectories are unavoidable. This thesis proposes an innovative method to characterise the uncertainty associated with a trajectory prediction based on the mathematical theory of Polynomial Chaos Expansions (PCE). Assuming univariate PCEs of the trajectory prediction inputs, the method describes how to generate multivariate PCEs of the prediction outputs that quantify their associated uncertainty. Arbitrary PCE (aPCE) was chosen because it allows a higher degree of flexibility to model input uncertainty. The obtained polynomial description can be used in subsequent prediction sensitivity analyses thanks to the relationship between polynomial coefficients and Sobol indices. The Sobol indices enable ranking the input parameters according to their influence on trajectory prediction uncertainty. The applicability of the aPCE-based uncertainty quantification detailed herein is analysed through a study case. This study case represents a typical aircraft trajectory prediction problem in ATM, in which uncertain parameters regarding aircraft performance, aircraft intent description, weather forecast, and initial conditions are considered simultaneously. Numerical results are compared to those obtained from a Monte Carlo simulation, demonstrating the advantages of the proposed method. The thesis includes two examples of DSTs (Demand and Capacity Balancing tool, and Arrival Manager) to illustrate the potential benefits of exploiting the proposed uncertainty quantification method.

Green supply chain management practices and firm performance: evidence from Finland

In order to address the increasing stakeholder requirements for environmentally sustainable products and processes, firms often need the participation of their supply chain partners. Green supply chain management has emerged as a set of managerial practices that integrate environmental issues into supply chain management. If implemented successfully, green supply chain management can be a way to achieve competitive advantage while enhancing the environmental sustainability of the firm. The overall purpose of this dissertation is to contribute to the discussion on green supply chain management practices from the perspective of their drivers and performance implications. The theoretical background arises from the literature on competitive strategy, firm performance and green supply chain management. The research questions are addressed by analysing firm-level data from manufacturing, trading and logistics firms operating in Finland. The empirical data comes from two consecutive Finland State of Logistics surveys in 2012 and 2014, combined with financial reporting data from external databases. The data is analysed with multiple statistical methods. First, the thesis contributes to the discussion of the drivers of GSCM practices. To enhance the understanding of the relationship between competitive strategy and GSCM practices, a conceptual tool to describe generic competitive strategy approaches was developed. The findings suggest that firms pursuing marketing differentiation are more likely to be able to compete by having only small environmental effects and by adopting a more advanced form of external green supply chain management, such as a combination of strong environmental collaboration and the increased environmental monitoring of suppliers. Furthermore, customer requirements for environmental sustainability are found to be an important driver in the implementation of internal GSCM practices. Firms can respond to this customer pressure by passing environmental requirements on to their suppliers, either through environmental collaboration or environmental monitoring. Second, this thesis adds value to the existing literature on the effects of green supply chain management practices on firm performance. The thesis provides support for the idea that there is a positive relationship between GSCM practices and firm performance and enhances the understanding of how different types of GSCM practices are related to 1) financial, 2) operational and 3) environmental performance in manufacturing and logistics. The empirical results suggest that while internal GSCM practices have the strongest effect on environmentalperformance, environmental collaboration with customers seems to be the most effective way to improve financial performance. In terms of operational performance, the findings were more mixed, suggesting that the operational performance of firms is more likely to be affected by firm characteristics than by the choices they make regarding their environmental collaboration. This thesis is also one of the first attempts to empirically analyse the relationship between GSCM practices and performance among logistics service providers. The findings also have managerial relevance. Management, especially in manufacturing and logistics industries, may benefit by gaining knowledge about which types of GSCM practice could provide the largest benefits in terms of different performance dimensions. This thesis also has implications for policy-makers and regulators regarding how to promote environmentally friendly activities among 1) manufacturing; 2) trading; and 3) logistics firms.

Pressure management in water distribution systems: current status, proposals, and future trends

Pressure management (PM) is commonly used in water distribution systems (WDSs). In the last decade, a strategic objective in the field has been the development of new scientific and technical methods for its implementation. However, due to a lack of systematic analysis of the results obtained in practical cases, progress has not always been reflected in practical actions. To address this problem, this paper provides a comprehensive analysis of the most innovative issues related to PM. The methodology proposed is based on a case-study comparison of qualitative concepts that involves published work from 140 sources. The results include a qualitative analysis covering four aspects: (1) the objectives yielded by PM; (2) types of regulation, including advanced control systems through electronic controllers; (3) new methods for designing districts; and (4) development of optimization models associated with PM. The evolution of the aforementioned four aspects is examined and discussed. Conclusions regarding the current status of each factor are drawn and proposals for future research outlined

Analysis of Outcome of Intraplueral Streptokinase in Pediatric Empyema Thoracis even in Advanced Stages: A Prospective Study

Background: Empyema thoracis in children causes significant morbidity. Standard treatment of Empyema thoracis includes tube drainage and antibiotics. But the tube drainage often fails. Intrapleural Streptokinase has been used in empyema thoracis with good success rate. Objectives: We evaluated the efficacy of intra-pleural Streptokinase in management of empyema thoracis even in advanced stages. Patients and Methods: A total of 28 patients with empyema thoracis requiring intercostal tube drainage aged zero to twelve years were included in the study who were admitted in Pediatric intensive care unit. 15,000 units/kg of Streptokinase was instilled into the pleural cavity. Response was assessed by clinical outcome, after unclamping and subsequent chest radiography and serial chest ultrasounds. Results: Streptokinase enhanced drainage in all patients with complete resolution of empyema thoracis in 26 patients. Two patients were referred for surgery. Only 7.2% required surgery. Streptokinase was equally effective if started before or after seven days. Conclusions: Intrapleural Streptokinase is the preferred treatment for treating pediatric empyema thoracis even in advanced stages and can avoid surgery.

Development of the Andalusian Registry of Patients Receiving Community Case Management, for the follow-up of people with complex chronic diseases.

Background: Complex chronic diseases are a challenge for the current configuration of Health services. Case management is a service frequently provided for people with chronic conditions and despite its effectiveness in many outcomes, such as mortality or readmissions, uncertainty remains about the most effective form of team organization, structures, and the nature of the interventions. Many processes and outcomes of case management for people with complex chronic conditions cannot be addressed with the information provided by electronic clinical records. Registries are frequently used to deal with this weakness. The aim of this study was to generate a registry-based information system of patients receiving case management to identify their clinical characteristics, their context of care, events identified during their follow-up, interventions developed by case managers, and services used. Methods and design: The study was divided into three phases, covering the detection of information needs, the design and its implementation in the healthcare system, using literature review and expert consensus methods to select variables that would be included in the registry. Objective: To describe the essential characteristics of the provision of ca re lo people who receive case management (structure, process and outcomes), with special emphasis on those with complex chronic diseases. Study population: Patients from any District of Primary Care, who initiate the utilization of case management services, to avoid information bias that may occur when including subjects who have already been received the service, and whose outcomes and characteristics could not be properly collected. Results: A total of 102 variables representing structure, processes and outcomes of case management were selected for their inclusion in the registry after the consensus phase. Total sample was composed of 427 patients, of which 211 (49.4%) were women and 216 (50.6%) were men. The average functional level (Barthel lndex) was 36.18 (SD 29.02), cognitive function (Pfeiffer) showed an average of 4.37 {SD 6.57), Chat1son Comorbidity lndex, obtained a mean of 3.03 (SD 2.7) and Social Support (Duke lndex) was 34.2 % (SD 17.57). More than half of patients include in the Registry, correspond lo immobilized or transitional care for patients discharged from hospital (66.5 %). The patient's educational level was low or very low (50.4%). Caregivers overstrain (Caregiver stress index), obtained an average value of 6.09% (SD 3.53). Only 1.2 % of patients had declared their advanced directives, 58.6 had not defined the tutelage and the vast majority lived at home 98.8 %. Regarding the major events recorded at RANGE Registry, 25.8 % of the selected patients died in the first three months, 8.2 % suffered a hospital admission at least once time, 2.3%, two times, and 1.2% three times, 7.5% suffered a fall, 8.7% had pressure ulcer, 4.7% had problems with medication, and 3.3 % were institutionalized. Stroke is the more prevalent health problem recorded (25.1%), followed by hypertension (11.1%) and COPD (11.1%). Patients registered by NCMs had as main processes diabetes (16.8%) and dementia (11.3 %). The most frequent nursing diagnoses referred to the self-care deficit in various activities of daily living. Regarding to nursing interventions, described by the Nursing Intervention Classification (NIC), dementia management is the most used intervention, followed by mutual goal setting, caregiver and emotional support. Conclusions: The patient profile who receive case management services is a chronic complex patient with severe dependence, cognitive impairment, normal social support, low educational level, health problems such as stroke, hypertension or COPD, diabetes or dementia, and has an informal caregiver. At the first follow up, mortality was 19.2%, and a discrete rate of readmissions and falls.

Il passaggio dalla Business Intelligence all'Advanced Analytics: individuazione e analisi di un modello in merito all'influenza del lobbying nel sistema economico

I Big Data stanno guidando una rivoluzione globale. In tutti i settori, pubblici o privati, e le industrie quali Vendita al dettaglio, Sanità, Media e Trasporti, i Big Data stanno influenzando la vita di miliardi di persone. L’impatto dei Big Data è sostanziale, ma così discreto da passare inosservato alla maggior parte delle persone. Le applicazioni di Business Intelligence e Advanced Analytics vogliono studiare e trarre informazioni dai Big Data. Si studia il passaggio dalla prima alla seconda, mettendo in evidenza aspetti simili e differenze.

The Routledge companion to accounting and risk

To date, there has been little consideration of the many different ways in which accounting and risk intersect, despite organisations being more determined than ever to build resilience against potential risks. This comprehensive volume overcomes this gap by providing an overview of the field, drawing together current knowledge of risk in a wide range of different accounting contexts.

OpenDataHub: an open dataset management system

This thesis presents a cloud-based software platform for sharing publicly available scientific datasets. The proposed platform leverages the potential of NoSQL databases and asynchronous IO technologies, such as Node.JS, in order to achieve high performances and flexible solutions. This solution will serve two main groups of users. The dataset providers, which are the researchers responsible for sharing and maintaining datasets, and the dataset users, that are those who desire to access the public data. To the former are given tools to easily publish and maintain large volumes of data, whereas the later are given tools to enable the preview and creation of subsets of the original data through the introduction of filter and aggregation operations. The choice of NoSQL over more traditional RDDMS emerged from and extended benchmark between relational databases (MySQL) and NoSQL (MongoDB) that is also presented in this thesis. The obtained results come to confirm the theoretical guarantees that NoSQL databases are more suitable for the kind of data that our system users will be handling, i. e., non-homogeneous data structures that can grow really fast. It is envisioned that a platform like this can lead the way to a new era of scientific data sharing where researchers are able to easily share and access all kinds of datasets, and even in more advanced scenarios be presented with recommended datasets and already existing research results on top of those recommendations.

Conservative management in very elderly patients with severe aortic stenosis: Time to change?

Despite current recommendations, a high percentage of patients with severe symptomatic aortic stenosis are managed conservatively. The aim of this study was to study symptomatic patients undergoing conservative management from the IDEAS registry, describing their baseline clinical characteristics, mortality, and the causes according to the reason for conservative management. Consecutive patients with severe aortic stenosis diagnosed at 48 centers during January 2014 were included. Baseline clinical characteristics, echocardiographic data, Charlson index, and EuroSCORE-II were registered, including vital status and performance of valve intervention during one-year follow-up. For the purpose of this substudy we assessed symptomatic patients undergoing conservative management, including them in 5 groups according to the reason for performing conservative management [I: comorbidity/frailty (128, 43.8%); II: dementia 18 (6.2%); III: advanced age 34 (11.6%); IV: patients’ refusal 62 (21.2%); and V: other reasons 50 (17.1%)]. We included 292 patients aged 81.5 ± 9 years. Patients from group I had higher Charlson index (4 ± 2.3), higher EuroSCORE-II (7.5 ± 6), and a higher overall (42.2%) and non-cardiac mortality (16.4%) than the other groups. In contrast, patients from group III had fewer comorbidities, lower EuroSCORE-II (4 ± 2.5), and low overall (20.6%) and non-cardiac mortality (5.9%). Patients with severe symptomatic aortic stenosis managed conservatively have different baseline characteristics and clinical course according to the reason for performing conservative management. A prospective assessment of comorbidity and other geriatric syndromes might contribute to improve therapeutic strategy in this clinical setting.

The water-food nexus and the role of demand management

With the global population projected to reach 9 billion in 2050, demand for food is expected to increase by over 50% in 2030 and 70% in 2050 (UN-Water, 2013). Already agriculture is the largest user of water with irrigation accounting for nearly 70% of all freshwater withdrawals (UN-Water, 2016).

Determinants of environmental accounting and reporting practices in portuguese local entities

Purpose – The purpose of this paper is to develop environmental accounting and reporting practices (EARPs) by Portuguese local entities and their determining factors. Design/methodology/approach – Data were obtained through a postal survey. In order to measure the degree of development of environmental accounting and reporting practices index was developed, which reflects the extent to which a set of eight EARPs have been implemented by the 69 Portuguese local entities included in the sample. Three variables are considered in this study as possible factors that drive the development of environmental management practices (EMPs) by local entities, namely, size of entity, accounting framework, degree of development of EMPs. Findings – Results indicate the degree of development of EARPs in Portuguese local entities is low. Additionally, accounting regulation and the degree of development of EMPs are explaining factors of the degree of development of environmental accounting practices in Portuguese local entities. Originality/value – This study adds to the international research on environmental accounting in public sector by providing empirical data from a country, Portugal, where empirical evidence is still relatively limited.

The Influence of Accounting Information in the Re-Election of the Mayors in Portugal

The changes recommended by the New Public Management (NPM) in public accounting have given special attention and importance to the evaluation of mayor’s performance by citizens/voters. Thus, this study aims to assess the impact of accounting information on the re-election of Portuguese mayors. Taking the agency theory as a point of departure, we start from the following research question: Does the accounting information disclosed by the municipalities influence the re-election of Portuguese mayors? The research methodology used in this study is the quantitative type, through which a multivariate analysis of data was performed on 308 Portuguese municipalities, in the period 2005-2008, based on the election results of 2009. The results from the binary logistic regression show that some indicators of accounting nature have impact on the re-election of mayors in Portugal, namely, the components of financial accounting and municipal revenues.

Quantifying recreational shore angling catch and harvest in southern Portugal (north-east Atlantic Ocean): implications for conservation and integrated fisheries management

Recreational shore fishing along 250 km of the south and south-west coast of Portugal was studied based on roving creel and aerial surveys. Surveys were conducted between August 2006 and July 2007, following a stratified random-sampling design and provided information on catch and effort, harvest and discards, angler demographics and fishing habits. Overall, 192 roving creel surveys, 24 aerial surveys and 1321 interviews were conducted. Based on the aerial surveys, a mean +/- s.e. total fishing effort of 705 236 +/- 32 765 angler h year(-1) was estimated, corresponding to 166 430 +/- 9792 fishing trips year(-1). Average time spent per fishing trip was 4.7 h. A total of 48 species, belonging to 22 families, were recorded in roving creel surveys. The most important species was Diplodus sargus, accounting for 44% of the total catches by number and 48% by mass. Estimated mean +/- s.e. total annual recreational shore fishing catch was 160.2 +/- 12.6 t year(-1) (788 049 +/- 54 079 fishes year(-1)), of which 147.4 +/- 11.9 t year(-1) (589 132 +/- 42 360 fishes year(-1)) was retained. Although overall shore-based recreational catches only corresponded to 0.8% of the commercial landings (only common species considered), D. sargus catches by recreational shore anglers were considerable, corresponding to 65% of the commercial landings. The implications of these results for integrated fisheries management and conservation are discussed, and future research proposed.

OpenDataHub: an open dataset management system

This thesis presents a cloud-based software platform for sharing publicly available scientific datasets. The proposed platform leverages the potential of NoSQL databases and asynchronous IO technologies, such as Node.JS, in order to achieve high performances and flexible solutions. This solution will serve two main groups of users. The dataset providers, which are the researchers responsible for sharing and maintaining datasets, and the dataset users, that are those who desire to access the public data. To the former are given tools to easily publish and maintain large volumes of data, whereas the later are given tools to enable the preview and creation of subsets of the original data through the introduction of filter and aggregation operations. The choice of NoSQL over more traditional RDDMS emerged from and extended benchmark between relational databases (MySQL) and NoSQL (MongoDB) that is also presented in this thesis. The obtained results come to confirm the theoretical guarantees that NoSQL databases are more suitable for the kind of data that our system users will be handling, i. e., non-homogeneous data structures that can grow really fast. It is envisioned that a platform like this can lead the way to a new era of scientific data sharing where researchers are able to easily share and access all kinds of datasets, and even in more advanced scenarios be presented with recommended datasets and already existing research results on top of those recommendations.