The quality of financial information in the extractive industries: a value relevance analysis

The extractive industry is characterized by high levels of risk and uncertainty. These attributes create challenges when applying traditional accounting concepts (such as the revenue recognition and matching concepts) to the preparation of financial statements in the industry. The International Accounting Standards Board (2010) states that the objective of general purpose financial statements is to provide useful financial information to assist the capital allocation decisions of existing and potential providers of capital. The usefulness of information is defined as being relevant and faithfully represented so as to best aid in the investment decisions of capital providers. Value relevance research utilizes adaptations of the Ohlson (1995) to assess the attribute of value relevance which is one part of the attributes resulting in useful information. This study firstly examines the value relevance of the financial information disclosed in the financial reports of extractive firms. The findings reveal that the value relevance of information disclosed in the financial reports depends on the circumstances of the firm including sector, size and profitability. Traditional accounting concepts such as the matching concept can be ineffective when applied to small firms who are primarily engaged in nonproduction activities that involve significant levels of uncertainty such as exploration activities or the development of sites. Standard setting bodies such as the International Accounting Standards Board and the Financial Accounting Standards Board have addressed the financial reporting challenges in the extractive industry by allowing a significant amount of accounting flexibility in industryspecific accounting standards, particularly in relation to the accounting treatment of exploration and evaluation expenditure. Therefore, secondly this study examines whether the choice of exploration accounting policy has an effect on the value relevance of information disclosed in the financial reports. The findings show that, in general, the Successful Efforts method produces value relevant information in the financial reports of profitable extractive firms. However, specifically in the oil & gas sector, the Full Cost method produces value relevant asset disclosures if the firm is lossmaking. This indicates that investors in production and non-production orientated firms have different information needs and these needs cannot be simultaneously fulfilled by a single accounting policy. In the mining sector, a preference by large profitable mining companies towards a more conservative policy than either the Full Cost or Successful Efforts methods does not result in more value relevant information being disclosed in the financial reports. This finding supports the fact that the qualitative characteristic of prudence is a form of bias which has a downward effect on asset values. The third aspect of this study is an examination of the effect of corporate governance on the value relevance of disclosures made in the financial reports of extractive firms. The findings show that the key factor influencing the value relevance of financial information is the ability of the directors to select accounting policies which reflect the economic substance of the particular circumstances facing the firms in an effective way. Corporate governance is found to have an effect on value relevance, particularly in the oil & gas sector. However, there is no significant difference between the exploration accounting policy choices made by directors of firms with good systems of corporate governance and those with weak systems of corporate governance.

The influence of genotype information on psychiatrists' treatment recommendations: more experienced clinicians know better what to ignore

Objectives: To assess if psychiatrists were influenced by a patient’s genetic information, even when the patient’s response to treatment was already known to them. Methods: Sixty-seven psychiatrists were presented with patients' pre and post-treatment scores on the PANSS for two hypothetical treatments for schizophrenia. Psychiatrists were also informed whether the patient possessed a genotype linked to hyper-responsiveness to one of the treatments, and were asked to recommend one of these two treatments. Attribute non-attendance assessed whether the information on genotype influenced psychiatrists' treatment recommendations. Results: Years of experience predicted whether psychiatrists were influenced by the genetic information. Psychiatrists with one year or less of experience had a 46% probability of considering genetic information, while psychiatrists with at least 15 years of experience had a lower probability (7%). Conclusions: Psychiatrists and other clinicians should be cautious about allowing a patient's genetic information to carry unnecessary weight in their clinical decision making.

Maurer, Markus: Skill Formation Regimes in South Asia, A Comparative Study on the Path-Dependent Development of Technical and Vocational Education and Training for the Garment Industry (Komparatistische Bibliothek; Bd. 21). Frankfurt am Main: Peter Lang 2011 [Rezension]

Rezension von: Maurer, Markus: Skill Formation Regimes in South Asia, A Comparative Study on the Path-Dependent Development of Technical and Vocational Education and Training for the Garment Industry (Komparatistische Bibliothek; Bd. 21), Frankfurt am Main: Peter Lang 2011 (449 S.; ISBN Skill Formation Regi)

Using technology to overcome the tyranny of space: information provision and wayfinding.

Urban wayfinding technology offers many possibilities by which older people and mobility-impaired users can overcome the barriers encountered on every-day journeys in the built environment. Previous work has highlighted the extent to which personal mobility and independence are significant determinants of the quality of life amongst both elderly and visually impaired groups. The paper outlines the development of the auditory location finder (ALF), which is a beacon-based local information system designed to enhance the wayfinding activities of these, and potentially other, user-groups in the community. The proposed system provides the user with an audio message, which is obtained on request via a small portable hand unit. The messages inform the user of their whereabouts and give information about the area that they are currently in. The development of the device involves issues such as message content and structure, route choice, orientation, landmarks, clues and the extent of user reliance on technology. Preliminary trials have been carried out in a UK city and have obtained initial user feedback to help underpin the technological development of the device and its potential application. The paper concludes by outlining the importance of new urban technology and the way in which such local information systems can potentially contribute to overcoming particular patterns of exclusion experienced by mobility-impaired groups, such as the visually impaired

EXTENDED-RANGE OBOE: THE IMPACT OF TECHNICAL AND MUSICAL ADVANCEMENTS IN 19th-CENTURY AND CONTEMPORARY OBOE REPERTOIRE

I believe that the purpose of expanding the oboe’s repertoire is to not only create original compositions, but to also utilize technical advancements in order to achieve access to a wider range of repertoire through the art of transcription. This paper examines the various paths to achieving such expansion, including utilizing unique performer skills, use of auxiliary instruments, advancements in the instrument itself and musical developments that challenge the perception of the oboe’s solo role in a particular era of music history. The oboe need not be relegated to the confines of a compositionally limited stereotype. The goal of my “extended-range” dissertation project is to expand the “range” of programmable repertoire, with a focus on music in both the 19th and 21st-centuries, while simultaneously expanding the technical capabilities and expectations of the modern oboe—in part by exploiting the new possibilities of the recently invented low-A extension key.

The role of relevant information in functional counterfactual thinking

Although counterfactual thinking is typically activated by a negative outcome, it can have positive effects by helping to regulate and improve future behavior. Known as the content-specific pathway, these counterfactual ruminations use relevant information (i.e., information that is directly related to the problem at hand) to elicit insights about the problem, create a connection between the counterfactual and the desired behavior, and strengthen relevant behavioral intentions. The current research examines how changing the type of relevant information provided (i.e., so that it is either concrete and detailed or general and abstract) influences the relationship between counterfactual thinking and behavioral intentions. Experiments 1 and 2 found that counterfactual thinking facilitated relevant intentions when these statements involved detailed information (Experiment 1) or specific behaviors (Experiment 2) compared to general information (Experiment 1), categories of behavior, or traits (Experiment 2). Experiment 3 found that counterfactuals containing a category of behavior facilitated specific behavioral intentions, relative to counterfactuals focusing on a trait. However, counterfactuals only facilitated intentions that included specific behaviors, but not when intentions focused on categories of behaviors or traits (Experiment 4). Finally, this effect generalized to other relevant specific behaviors; a counterfactual based on one relevant specific behavior facilitated an intention based on another relevant specific behavior (Experiment 5). Together, these studies further clarify our understanding of the content-specific pathway and provide a more comprehensive understanding of functional counterfactual thinking.

Packaging as a vehicle of nutritional information for children: Enhancing children’s perceptions of healthy food

Field lab in marketing: Children consumer behaviour

Reading keys in the communication of wine in China. Wine marketing strategies

Mestrado Vinifera Euromaster - Instituto Superior de Agronomia - UL

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.

Essays on Innovative Activity and the Protection of Innovations

This dissertation looks at three widely accepted assumptions about how the patent system works: patent documents disclose inventions; this disclosure happens quickly, and patent owners are able to enforce patents. The first chapter estimates the effect of stronger trade secret protection on the number of patented innovations. When firms find it easier to protect business information, there is less need for patent protection, and accordingly less need for the disclosure of technical information that is required by patent law. The novel finding is that when it is easier to keep innovations, there is not only a reduction in the number of patents but also a sizeable reduction in disclosed knowledge per patent. The chapter then shows how this endogeneity of the amount of knowledge per patent can affect the measurement of innovation using patent data. The second chapter develops a game-theoretic model to study how the introduction of fee-shifting in US patent litigation would influence firms’ patenting propensities. When the defeated party to a lawsuit has to bear not only their own cost but also the legal expenditure of the winning party, manufacturing firms in the model unambiguously reduce patenting, with small firms affected the most. For fee-shifting to have the same effect as in Europe, the US legal system would require shifting of a much smaller share of fees. Lessons from European patent litigation may, therefore, have only limited applicability in the US case. The third chapter contains a theoretical analysis of the influence of delayed disclosure of patent applications by the patent office. Such a delay is a feature of most patent systems around the world but has so far not attracted analytical scrutiny. This delay may give firms various kinds of strategic (non-)disclosure incentives when they are competing for more than a single innovation.

Demarcações conceituais dos princípios científicos da Arquivologia e da Ciência da Informação : contribuições para a configuração científica das disciplinas no campo da informação

Dissertação (mestrado)—Universidade de Brasília, Faculdade de Ciência da Informação, Programa de Pós-Graduação em Ciência da Informação, 2016.

Raportointi- ja suunnittelujärjestelmän käyttöönotto ja kehittäminen

Diplomityö liittyy case-yhtiön raportointi- ja suunnittelujärjestelmän käyttöönottoon ja kehittämiseen. Työn tavoitteena on raportoinnin toteuttaminen uudella järjestelmällä. Diplomityön teoriaosuudessa perehdytään johdon laskentatoimen rooliin johtamisen tukena, business intelligence -käsitteeseen ja raportointijärjestelmähankkeisiin liittyviin haasteisiin johdon laskentatoimen näkökulmasta. Työn empiirisessä osassa kuvataan raportoinnin toteutus uudella järjestelmällä, laaditaan raportointi- ja suunnittelujärjestelmän arkkitehtuurikuvaus, arvioidaan käyttöönottoprojektin onnistumisesta sekä esitetään jatkokehitysehdotuksia. Diplomityö on osa case-yhtiön johdon laskentatoimen kehittämistä ja jatkoa aiemmin yhtiön raportoinnin kehittämistä tutkineelle diplomityölle. Meneillään oleva raportointi- jasuunnittelujärjestelmä -projekti on osa yhtiön laajempaa IT-järjestelmien integraatioprojektia. Näin diplomityö liittyy myös yhtiön tietojärjestelmien kehittämiseen ja uudistamiseen. Diplomityössä rakennettiin case-yhtiön talouden raportointiympäristöä uuteen järjestelmään ja kehitettiin johdon laskentatoimen raportteja. Työssä kehitetty talouden raportointi täyttää raportointi- ja suunnittelujärjestelmähankkeelle asetetut tavoitteet. Raportointi on erilaiset tarpeet huomioivaa, läpinäkyvää ja antaa kokonaiskuvan tarkasteltavasta kohteesta, mutta mahdollistaa myös tapahtumien yksityiskohtaisen tarkastelun. Raportointi perustuu sähköpostin kautta jaettaviin vakioraportteihin sekä käyttäjän itse raportointiportaalissa suorittamaan raportointiin. Talouden seurannan lisäksi työssä laadittiin raportteja teknisen tiedon ja työtuntien seurantaan. Case-yhtiön nykyinen johdon laskentatoimen raportointi toteutetaan työssä esitetyllä järjestelmällä.

Hankintaprosessin kehittäminen sellulaitteiden valmistuksessa- Toimituksen kokonaisläpimenoajan lyhentäminen

Diplomityön tavoitteena oli lyhentää hankinnallisin keinoin DD-pesurin toimituksen kokonaisläpimenoaikaa Savonlinna Works Oy:lla. Kirjallisuustutkimuksessa perehdytään tutkimaan hankinta- ja toimitusprosessia sekä läpimenoaikaa. Käsiteltäviä alueita ovat hankintastrategia, tuotekategoriat ja teknisen tieto. Empiirisen osan alussa kuvattiin Savonlinna Works Oy:nnykytilaa. Käsiteltäviä osa-alueita olivat kriittiset hankinnat, joiden pääongelmina havaittiin olevan toimittajaverkon ja teknisen tiedon hallinta. Empiirisenosan tiedot ovat kerätty haastattelujen ja intranetin avulla. Empiirinen osa perustuu kirjallisuuteen, joka on peräisin artikkeleista ja kirjoista. Työn tuloksena Savonlinna Works Oy:lle luotiin hankintastrategia ja tuotekategoriat, joiden avulla toimittajia hallitaan. Teknisen tiedon hallinnassa ratkaisuksi kehitettiin työkaluja, joiden avulla tieto on paremmin sitä tarvitsevien käytettävissä.

Teknisen tiedon tietovarastoanalyysi kunnossapidon ja suunnittelun tarpeisiin

Työn tavoitteena oli selvittää UPM-Kymmene Oyj Kaukaan tehtaalla käytettävän teknisen tiedon tietovarastoja, tiedon määrää ja laatua. Lisäksi työssä selvitetään tiedon kasvuvauhtia lähivuosina sekä sen dokumentointia ja dokumentoinnin kehitystä. Työssä keskityttiin tekniseen tietoon, mitä käyttää pääsääntöisesti kunnossapito, suunnittelu ja materiaalihallinto. Työn johdosta havaittiin, että tehtaalla käytetään huomattavia määriä henkilöstöresursseja tiedon etsimiseen ja sen päivittämiseen. Lisäksi huomattiin tehtaan teknisessä tiedossa olevan selkeitä päällekkäisyyksiä tiedon tallentamisen osalta, mikä aiheuttaa epävarmuutta tiedon validiutta arvioitaessa. Toimenpiteiksi ehdotettiin tietovarastojen systemaattista läpikäymistä siten, että tiedot luokiteltaisiin luotavalla asteikolla tärkeisiin ja vähemmän tärkeisiin kokonaisuuksiin. Kriteerinä voisi toimia esimerkiksi kriittisyys tuotantoon nähden.