Fair value accounting for non-current assets and audit fees: Evidence from Australian companies

We investigate the association between asset revaluations of non-current assets and audit fees, using a sample of ASX 300 companies from the years 2003–2007.We report that there is a significant increase in the audit fees paid when non-financial assets (PPEs, investment properties and intangible assets) are measured at fair values. Moreover, we provide evidence that an independent valuer or appraiser significantly weakens the positive association between asset revaluations and audit fees. Furthermore, companies whose noncurrent assets are revalued upwards and those that revalue their non-current assets upwards every year have significantly higher audit fees. Additional tests provide empirical evidence that the strength of corporate governance has a moderating effect on the level of audit fees. This study contributes to the ongoing debate on the role of fair value accounting. The findings suggest agency costs associated with fair value estimates may offset the benefits from the use of fair value accounting.

Polypharmacy among inpatients aged 70 years or older in Australia

Objectives To investigate medication changes for older patients admitted to hospital and to explore associations between patient characteristics and polypharmacy. Design Prospective cohort study. Participants and setting Patients aged 70 years or older admitted to general medical units of 11 acute care hospitals in two Australian states between July 2005 and May 2010. All patients were assessed using the interRAI assessment system for acute care. Main outcome measures Measures of physical, cognitive and psychosocial functioning; and number of regular prescribed medications categorised into three groups: non-polypharmacy (0–4 drugs), polypharmacy (5–9 drugs) and hyperpolypharmacy (≥ 10 drugs). Results Of 1220 patients who were recruited for the study, medication records at admission were available for 1216. Mean age was 81.3 years (SD, 6.8 years), and 659 patients (54.2%) were women. For the 1187 patients with complete medication records on admission and discharge, there was a small but statistically significant increase in mean number of regular medications per day between admission and discharge (7.1 v 7.6), while the prevalence of medications such as statins (459 [38.7%] v 457 [38.5%] patients), opioid analgesics (155 [13.1%] v 166 [14.0%] patients), antipsychotics (59 [5.0%] v 65 [5.5%] patients) and benzodiazepines (122 [10.3%] v 135 [11.4%] patients) did not change significantly. Being in a higher polypharmacy category was significantly associated with increase in comorbidities (odds ratio [OR], 1.27; 95% CI, 1.20–1.34), presence of pain (OR, 1.31; 1.05–1.64), dyspnoea (OR, 1.64; 1.30–2.07) and dependence in terms of instrumental activities of daily living (OR, 1.70; 1.20–2.41). Hyperpolypharmacy was observed in 290/1216 patients (23.8%) at admission and 336/1187 patients (28.3%) on discharge, and the proportion of preventive medication in the hyperpolypharmacy category at both points in time remained high (1209/3371 [35.9%] at admission v 1508/4117 [36.6%] at discharge). Conclusions Polypharmacy is common among older people admitted to general medical units of Australian hospitals, with no clinically meaningful change to the number or classification (symptom control, prevention or both) of drugs made by treating physicians.

Long-term Ingham and Mackay farming system experiments: comparisons between permanent non-tilled beds and re-formed beds

Experiments involving row spacing and tillage, originally established in Mackay and Ingham in 2001, were planted to a second cycle of sugarcane in 2006 following a soybean break. Despite large yield differences, economic analysis indicated that there would be little difference in gross margins because of the much higher costs of the tilled system. It is concluded that without GPS guidance, as was the case with these experiments, cane yields are likely to be reduced with no tillage but these problems may well be overcome by implementing minimum strategic tillage to remove compaction from the planting row.

Adenoviral gene therapy for non-small cell lung cancer

Adenoviral gene therapy is an experimental approach to cancer refractory to standard cancer therapies. Adenoviruses can be utilized as vectors to deliver therapeutic transgenes into cancer cells, while gene therapy with oncolytic adenoviruses exploits the lytic potential of viruses to kill tumor cells. Although adenoviruses demonstrate several advantages over other vectors - such as the unparalleled transduction efficacy and natural tropism to a wide range of tissues - the gene transfer efficacy to cancer cells has been limited, consequently restricting the therapeutic effect. There are, however, several approaches to circumvent this problem. We utilized different modified adenoviruses to obtain information on adenovirus tropism towards non-small cell lung cancer (NSCLC) cells. To enhance therapeutic outcome, oncolytic adenoviruses were evaluated. Further, to enhance gene delivery to tumors, we used mesenchymal stem cells (MSCs) as carriers. To improve adenovirus specificity, we investigated whether widely used cyclooxygenase 2 (Cox-2) promoter is induced by adenovirus infection in nontarget cells and whether selectivity can be retained by the 3 untranslated region (UTR) AU-rich elements. In addition, we investigated whether switching adenovirus fiber can retain gene delivery in the presence of neutralizing antibodies. Our results show that adenoviruses, whose capsids were modified with arginine-glycine-aspartatic acid (RGD-4C), the serotype 3 knob, or polylysins displayed enhanced gene transfer into NSCLC cell lines and fresh clinical specimens from patients. The therapeutic efficacy was further improved by using respective oncolytic adenoviruses with isogenic 24bp deletion in the E1A gene. Cox-2 promoter was also shown to be induced in normal and tumor cells following adenovirus infection, but utilization of 3 UTR elements can increase the tumor specificity of the promoter. Further, the results suggested that use of MSCs could enhance the bioavailability and delivery of adenoviruses into human tumors, although cells had no tumor tropism per se. Finally, we demonstrated that changing adenovirus fiber can allow virus to escape from existing neutralizing antibodies when delivered systemically. In conclusion, these results reveal that adenovirus gene transfer and specificity can be increased by using modified adenoviruses and MSCs as carriers, and fiber modifications simultaneously decrease the effect of neutralizing antibodies. This promising data suggest that these approaches could translate into clinical testing in patients with NSCLC refractory to current modalities.

Resistance Mechanisms of Non-Hodgkin Lymphomas against Rituximab Treatment

Rituximab, a monoclonal antibody against B-cell specific CD20 antigen, is used for the treatment of non-Hodgkin lymphomas (NHL) and chronic lymphatic leukemia. In combination with chemotherapeutics rituximab has remarkably improved the outcome of NHL patients, but a vast variation in the lengths of remissions remains and the outcome of individual patients is difficult to predict. This thesis has searched for an explanation for this by studying the effector mechanisms of rituximab and by comparing gene expression in lymphoma tissue samples of patients with long- and short-term survival. This work demonstrated that activation of complement (C) system is in vitro more efficient effector mechanism of rituximab than cellular mechanisms or apoptosis. Activation of the C system was also shown in vivo during rituximab treatment. However, intravenously administered rituximab could not enter the cerebrospinal fluid, and neither C activation nor removal of lymphoma cells was observed in central nervous system. In vitro cytotoxicity assays showed that rituximab-induced cell killing could be markedly improved with simultaneous neutralization of the C regulatory proteins CD46 (Membrane cofactor protein), CD55 (Decay-accelerating factor), and CD59 (protectin). In a retrospective study of follicular lymphoma (FL) patients, low lymphoma tissue mRNA expressions of CD59 and CD55 were associated with a good prognosis and in a progressive flow cytometry study high expression of CD20 relative to CD55 was correlated to a longer progression free survival. Gene expression profile analysis revealed that expression of certain often cell cycle, signal transduction or immune response related genes correlate with clinical outcome of FL patients. Emphasizing the role of tumor microenvironment the best differentiating genes Smad1 and EphA1 were demonstrated to be mainly expressed in the non-malignant cells of tumors. In conclusion, this thesis shows that activation of the C system is a clinically important effector mechanism of rituximab and that microenvironment factor in tumors and expression of C regulatory proteins affect markedly the efficacy of immunochemotherapy. This data can be used to identify more accurately the patients for whom immunochemotherapy is given. It may also be beneficial in development of rituximab-containing and other monoclonal antibody therapies against cancer.

Non-Destructive Method to Estimate the Moisture Content in Bread using Multi-Channel Electrical Impedance Spectroscopy

Bread undergoes several physicochemical changes during storage that results in a rapid loss of freshness. These changes depend on moisture content present in bread product. An instrument based on electrical impedance spectroscopy technique is developed to estimate moisture content of bread at different zones using designed multi-channel ring electrodes. A dedicated AT89S52 microcontroller and associated peripherals are employed for hardware. A constant current is applied across bread loaf through central pair of electrodes and developed potential across different zones of bread loaf are measured using remaining four ring electrode pairs. These measured values of voltage and current are used to measure the impedance at each zone. Electrical impedance behavior of the bread loaf at crust and crumb is investigated during storage. A linear relationship is observed between the measured impedance and moisture content present in crust and crumb of bread loaf during storage of 120 hours.

Improving Flow-Insensitive Solutions for Non-Separable Dataflow Problems

Flow-insensitive solutions to dataflow problems have been known to be highly scalable; however also hugely imprecise. For non-separable dataflow problems this solution is further degraded due to spurious facts generated as a result of dependence among the dataflow facts. We propose an improvement to the standard flow-insensitive analysis by creating a generalized version of the dominator relation that reduces the number of spurious facts generated. In addition, the solution obtained contains extra information to facilitate the extraction of a better solution at any program point, very close to the flow-sensitive solution. To improve the solution further, we propose the use of an intra-block variable renaming scheme. We illustrate these concepts using two classic non-separable dataflow problems --- points-to analysis and constant propagation.

Synthesis of radio frequency plasma polymerized non-synthetic Terpinen-4-ol thin films

Recent advancements in the area of organic polymer applications demand novel and advanced materials with desirable surface, optical and electrical properties to employ in emerging technologies. This study examines the fabrication and characterization of polymer thin films from non-synthetic Terpinen-4-ol monomer using radio frequency plasma polymerization. The optical properties, thickness and roughness of the thin films were studied in the wavelength range 200–1000 nm using ellipsometry. The polymer thin films of thickness from 100 nm to 1000 nm were fabricated and the films exhibited smooth and defect-free surfaces. At 500 nm wavelength, the refractive index and extinction coefficient were found to be 1.55 and 0.0007 respectively. The energy gap was estimated to be 2.67 eV, the value falling into the semiconducting Eg region. The obtained optical and surface properties of Terpinen-4-ol based films substantiate their candidacy as a promising low-cost material with potential applications in electronics, optics, and biomedical industries.

Calculation of Sparking Potentials of SF6 and SF6-GAS Mixtures in Uniform and Non-Uniform Electric Fields

A simple formula is developed to predict the sparking potentials of SF6 and SF6-gas mixture in uniform and non-uniform fields. The formula has been shown to be valid over a very wide range from 1 to 1800 kPa·cm of pressure and electrode gap separation for mixtures containing 5 to 100% SF6. The calculated values are found to be in good agreement with the previously reported measurements in the literature. The formula should aid design engineers in estimating electrode-spacings and clearances in power apparatus and systems.

Econometric models of Finnish non-industrial private forest owners' timber supply and timber stock

This dissertation examines the short- and long-run impacts of timber prices and other factors affecting NIPF owners' timber harvesting and timber stocking decisions. The utility-based Faustmann model provides testable hypotheses of the exogenous variables retained in the timber supply analysis. The timber stock function, derived from a two-period biomass harvesting model, is estimated using a two-step GMM estimator based on balanced panel data from 1983 to 1991. Timber supply functions are estimated using a Tobit model adjusted for heteroscedasticity and nonnormality of errors based on panel data from 1994 to 1998. Results show that if specification analysis of the Tobit model is ignored, inconsistency and biasedness can have a marked effect on parameter estimates. The empirical results show that owner's age is the single most important factor determining timber stock; timber price is the single most important factor in harvesting decision. The results of the timber supply estimations can be interpreted using utility-based Faustmann model of a forest owner who values a growing timber in situ.

Self-tuning control of a class of multivariable non-linear systems

Self-tuning is applied to the minimum variance control of non-linear multivariable systems which can be characterized by a ' multivariable Hammerstein model '. It is also shown that such systems are not amenable to self-tuning control if control costing is to be included in the performance criterion.

Flora Lotte "Lola" Reiss walking in the street with her non-Jewish boyfriend Walter; Karlovy Vary (Carlsbad) Portraits Family

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Predicting Additive and Non-additive Genetic Effects from Trials Where Traits Are Affected by Interplot Competition

There are two key types of selection in a plant breeding program, namely selection of hybrids for potential commercial use and the selection of parents for use in future breeding. Oakey et al. (in Theoretical and Applied Genetics 113, 809-819, 2006) showed how both of these aims could be achieved using pedigree information in a mixed model analysis in order to partition genetic effects into additive and non-additive effects. Their approach was developed for field trial data subject to spatial variation. In this paper we extend the approach for data from trials subject to interplot competition. We show how the approach may be used to obtain predictions of pure stand additive and non-additive effects. We develop the methodology in the context of a single field trial using an example from an Australian sorghum breeding program.