Paleontological research on late Triassic radiolarians from Oman and Sicily

Les radiolaires sont des unicellulaires planctoniques qui peuplent nos océans depuis plus de 500 millions d'années. Ces microorganismes développent un squelette en silice ayant des géométries extrêmement diversifiées et sophistiqués qui varient rapidement à l'échelle géologique et permettent de construire des échelles biochronologiques basées sur les différents assemblages qui se succèdent dans le temps. On retrouve ces organismes à l'état fossile dans les roches ma¬rines siliceuse desquelles on peut les extraire avec de l'acide. Des échantillons provenant du sultanat d'Oman et de Sicile ont été étudiés afin de mieux com¬prendre les relations de parenté entre les groupes et de comparer les faunes avec celles du même âge venant de Colombie britannique, du Japon et de Turquie, qui sont représentatives de divers domaines océaniques de l'époque. Certains radiolaires possèdent un anneau autour de leur coque centrale sphérique et ont ainsi été baptisés Saturnalides. Il y a 215 millions d'années, au Norien moyen, ce groupe se diversifie soudainement et donne naissance à une multitude d'espèces qui évoluent rapidement ce qui a permis d'établir des subdivisions temporelles supplémentaires et d'affiner les zonations exis¬tantes. L'étude détaillée de formes intermédiaires entre les espèces a permis d'établir de nouveaux liens de parenté et de considérer le genre Praehexasaturnalis comme l'ancêtre probable de nom¬breuses formes dans le Norien moyen et supérieur. Grâce à l'étude comparative des espèces de Saturnalidae allant du Mésozoïque au Cénozoïque, un certain type d'asymétrie de l'anneau a pu être identifiée comme étant propre à cette famille et plus précisément liée à la disposition de la coque la plus interne (microsphère). Deux nouveaux genres, Blechschmidtia et Tjerkium, s'inscrivent dans une lignée parallèle au Saturnalidae. Cette lignée met en évidence la formation au cours du temps d'un anneau à partir de la fusion de deux épines opposées. -- Late Triassic marine deposits of the Tethyan realm have been investigated in the Sultanate of Oman and in Sicily in order to contribute to the knowledge of radiolarian taxonomy and bio- stratigraphy of this key period preceding the Triassic-Jurassic boundary. In the middle Norian, the saturnalid radiolarians display intense diversification. This blooming of fast evolving spe¬cies has been used to establish a new zonation based on evolutionary successions that refine the existing zonal schemes. One new genus and 16 new species are described. The chronologic distribution of 172 species belonging to 72 genera is established from five sections in the Umar and Al Aridh units of the Hawasina Basin. Many Late Triassic saturnalid species are interpreted to originate from the genus Praehexasaturnalis Kozur & Mostler, which shows strong morpho¬logical diversification patterns. Detailed comparative studies of different types of asymmetric ring morphologies of Mesozoic to Cainozoic saturnalid species permitted to relate the origin of the asymmetry to the disposition of the initial skeletal structure and to gain new insight on the internal and external geometrical transformations of this group trough time and how the emergence of new families is induced by environmental stress. RÉSUMÉ Les formations marines du Trias supérieur du domaine téthysien ont été étudiées dans le Sultanat d'Oman et en Sicile afin de contribuer à la connaissance et au développement de la taxonomie et de la biostratigraphie des radiolaires de cette période clé qui précède la crise de la limite Trias-Jurassique. Au Norien moyen, les radiolaires Saturnalides montrent une intense diversi¬fication. Ce véritable "bloom" d'espèces qui évoluent rapidement a été utilisé pour l'établisse¬ment d'une nouvelle zonation basée sur les successions évolutives de ce groupe qui permettent d'affiner les subdivisions biochronologiques existantes. Un nouveau genre et seize nouvelles espèces sont décrits. La distribution stratigraphique de 172 espèces appartenant à 72 genres est établie pour 5 sections dans les unités d'Umar et d'Al Aridh du bassin de Hawasina. Un essai d'établissement d'une phylogénèse des Saturnalidae du Trias supérieur mène à proposer que le genre Praehexasaturnalis Kozur & Mostler est l'ancêtre de beaucoup d'espèces de Saturnalidae du Trias supérieur. L'étude comparative détaillée des différents types d'asymétrie de l'anneau chez les Saturnali¬dae du Mésozoïque au Cénozoïque a permis de lier l'origine de ce phénomène à la disposition de la structure initiale de leur squelette et par ce fait d'avoir une meilleure compréhension des transformations géométriques internes et externes subies par ce groupe au cours du temps et de concevoir comment l'émergence de nouvelles familles est induite lors de périodes de stress environnemental.

Vacancy-assisted domain-growth in asymmetric binary alloys: A Monte Carlo Study

A Monte Carlo simulation study of the vacancy-assisted domain growth in asymmetric binary alloys is presented. The system is modeled using a three-state ABV Hamiltonian which includes an asymmetry term. Our simulated system is a stoichiometric two-dimensional binary alloy with a single vacancy which evolves according to the vacancy-atom exchange mechanism. We obtain that, compared to the symmetric case, the ordering process slows down dramatically. Concerning the asymptotic behavior it is algebraic and characterized by the Allen-Cahn growth exponent x51/2. The late stages of the evolution are preceded by a transient regime strongly affected by both the temperature and the degree of asymmetry of the alloy. The results are discussed and compared to those obtained for the symmetric case.

2-oxazolinas quirais: algumas aplicações como indutores de assimetria em reações orgânicas

This article summarizes how chiral 2-oxazolines have been employed as inducers of asymmetry in many kinds of organic reactions, including the more recent examples reported in which chiral bis(oxazolines) have been complexed in situ with transition metals and utilized to induce the stereoselectivity of some reactions.

Molluscan radiations and landscape evolution in Miocene Amazonia

This PhD study aims to exploit the rich archive provided by the Miocene mollusc fauna of the Pebas Formation and other inland Miocene Amazonian formations to reconstruct landscape evolution and biotic development in lowland Amazonia during the Neogene. Over 160 samples from more than 70 Pebas Formation outcrops mostly collected by the author were processed for this study. Additional samples were collected in Andean areas of Colombia and Venezuela and further material from other northwestern South American basins was studied in museums. Pebas Formation samples and well log data made available by Occidental Peru from three wells in the Marañon Basin in Peru were also investigated. During this study four genera and 74 species from the Pebas Formation have been described and a further 13 species have been introduced in open nomenclature, and several species were reported for the first time. The number of mollusc species attributed to the Pebas fauna has increased from around 50 to 156. The Pebas fauna is characterised as aquatic, endemic and extinct, and is a typical representative of a long-lived lake fauna. Fluvial taxa are not common, (marginal) marine taxa are rare. An additional molluscan fauna from the Miocene Solimões Formation of Brazil, containing 13 fresh water species was also described. The newly documented fauna was used to improve biostratigraphic framework of Miocene Amazonian deposits. Twelve mollusc zones were introduced, the upper eleven of which cover a time interval of approximately seven million years covered previously by only three pollen zones. An age model calculated for the borehole data indicates that the Pebas Formation was deposited between c. 24 and 11 Ma. The areal distribution of the outcropping mollusc zones uncovered a broad dome structure, termed here the Iquitos-Araracuara anteclise in the study area. The structure appears to have influenced river courses and also contributed to edaphic heterogeneity that may have been in part responsible for the current high biodiversity in the study area. The Pebas system was a huge system (> one million km2) dominated by relatively shallow lakes, but also containing swamps and rivers. The system was fed by rivers draining the emergent Andes in the west and lowlands and cratons to the east. The Pebas system was located at sea level and was open to marine settings through a northern portal running through the Llanos Basin and East Venezuela Basin towards the Caribbean. Cyclical baselevel changes possibly related to Mylankhovitch cycles, have been documented in depositional sequences of the Pebas Formation. The composition of the Pebasian mollusc fauna implies that the system was mostly a fresh water system. Such an interpretation is matched by strontium isotope ratios as well as very negative δ18O ratios found in the shells, but is at odds with oligohaline and mesohaline ichnofacies found in the same strata. The mollusc fauna of the Pebas Formation diversified through most of the existence of the lake system. The diversification was mostly the result of in-situ cladogenesis. The success of some of the Pebasian endemic clades is explained by adaptation to fresh water, low oxygen, common unconsolidated lake bottoms (soup grounds) as well as high predation intensity. Maximum diversity was reached at the base of the late Middle to early Late Miocene Grimsdalea pollen zone, some 13 Ma. At the time some 85 species co-occurred, 67 of which are considered as Pebasian endemics. A subsequent drop in species richness coincides with indications of elevated salinities, although a causal relation still needs to be established. Apparently the Pebas fauna went (almost) entirely extinct with the replacement of the lake system into a fluvio-tidal system during the Early Late Miocene, some 11 Ma.

The temporal dynamics of resource use by frugivorous birds: a network approach

Ecological network patterns are influenced by diverse processes that operate at different temporal rates. Here we analyzed whether the coupled effect of local abundance variation, seasonally phenotypic plastic responses, and species evolutionary adaptations might act in concert to shape network patterns. We studied the temporal variation in three interaction properties of bird species (number of interactions per species, interaction strength, and interaction asymmetry) in a temporal sequence of 28 plant frugivore interaction networks spanning two years in a Mediterranean shrubland community. Three main hypotheses dealing with the temporal variation of network properties were tested, examining the effects of abundance, switching behavior between alternative food resources, and morphological traits in determining consumer interaction patterns. Our results demonstrate that temporal variation in consumer interaction patterns is explained by short-term variation in resource and bird abundances and seasonal dietary switches between alternative resources (fleshy fruits and insects). Moreover, differences in beak morphology are associated with differences in switching behavior between resources, suggesting an important role of foraging adaptations in determining network patterns. We argue that beak shape adaptations might determine generalist and specialist feeding behaviors and thus the positions of consumer species within the network. Finally, we provide a preliminary framework to interpret phylogenetic signal in plant animal networks. Indeed, we show that the strength of the phylogenetic signal in networks depends on the relative importance of abundance, behavioral, and morphological variables. We show that these variables strongly differ in their phylogenetic signal. Consequently, we suggest that moderate and significant phylogenetic effects should be commonly observed in networks of species interactions. Read More: http://www.esajournals.org/doi/abs/10.1890/07-1939.1

The adequacy of different robust statistical tests in comparing two independent groups

In the current study, we evaluated various robust statistical methods for comparing two independent groups. Two scenarios for simulation were generated: one of equality and another of population mean differences. In each of the scenarios, 33 experimental conditions were used as a function of sample size, standard deviation and asymmetry. For each condition, 5000 replications per group were generated. The results obtained by this study show an adequate type error I rate but not a high power for the confidence intervals. In general, for the two scenarios studied (mean population differences and not mean population differences) in the different conditions analysed, the Mann-Whitney U-test demonstrated strong performance, and a little worse the t-test of Yuen-Welch.

Julkisten osakeyhtiöiden toimintakertomustietojen kehittyminen ajalla 2005-2008

Tutkimuksen tavoitteena on identifioida julkisten osakeyhtiöiden toimintakertomusta säätelevien normien muutokset vuosien 2005 ja 2008 välillä. Tutkimuksessa kartoitetaan sisältyvätkö kaikki normien edellyttämät tiedot yhtiöiden vuodelta 2008 julkistettuihin toimintakertomuksiin, esiintyykö puutteita joidenkin tiettyjen tietovaatimusten osalta, esiintyykö yhtiöiden toimintakertomuksissa selkeitä laadullisia eroja ja ovatko yhtiöt esittäneet vapaaehtoisesti joitain tietoja jo vuoden 2005 toimintakertomuksissa. Tutkimusaineiston muodostavat Helsingin pörssissä noteerattujen markkinaarvoltaan pienten ja suurten suomalaisten julkisten osakeyhtiöiden toimintakertomukset vuosilta 2005 ja 2008. Tutkimus on laadullinen kuvaileva tapaustutkimus, jolla pyritään keräämään yksityiskohtaista, intensiivistä tietoa sekä suomalaisten julkisten osakeyhtiöiden toimintakertomuksiin kohdistuvista normistomuutoksista tarkastelujaksolla että laadullisista eroavaisuuksista yhtiöiden toimintakertomusten välillä. Tulosten perusteella voidaan todeta, että suomalaisten julkisten osakeyhtiöiden toimintakertomuksissa esiintyy edelleen puutteita, vaikka tarkastelujaksolla oli tapahtunut myös selvää parannusta. Toimintakertomuksissa esiintyi selviä yhtiökohtaisia eroavaisuuksia, mutta selkeää eroa ei havaittu pienten ja suurten yhtiöiden toimintakertomusten välillä.

Possibilidades e limitações no uso da temperatura em cromatografia líquida de fase reversa

High-temperature liquid chromatography (HTLC) is a technique that presents a series of advantages in liquid phase separations, such as: reduced analysis time, reduced pressure drop, reduced asymmetry factors, modified retentions, controlled selectivities, better efficiencies and improved detectivities, as well as permitting green chromatography. The practical limitations that relate to instrumentation and to stationary phase instability are being resolved and this technique is now ready to be applied for routine determinations.

Corporate Governance: Osakeyhtiön johdon velvollisuudet ja vastuu

Tutkimuksen tarkoituksena on selvittää, millainen Corporate Governance -järjestelmä ja sääntely-ympäristö Suomessa on voimassa. Tutkimuksessa tarkastellaan lisäksi osakeyhtiön johdon fidusiaarisia velvollisuuksia ja johdon velvollisuuksien tehosteena olevaa vastuujärjestelmää. Corporate Governance -järjestelmää analysoidaan perinteisestä oikeustieteellisestä näkökulmasta poiketen oikeustaloustieteen metodein. Tutkimuksen teoriapohja perustuu koti- ja ulkomaiseen oikeustaloustieteelliseen kirjallisuuteen, muutoin tutkimuksessa tukeudutaan suurimmilta osin kotimaiseen oikeuskirjallisuuteen ja virallislähteisiin. Suomalainen Corporate Governance -järjestelmä minimioi tehokkaasti transaktiokustannuksia ja tarjoaa osakkeenomistajille tehokkaan, informaation epäsymmetriaa rajoittavan valvontamekanismin. Jos johto toimii velvollisuuksiensa vastaisesti, osakkeenomistajat erottavat johdon, joka ei nauti sen luottamusta tai johto joutuu vastaamaan toimistaan vahingonkorvausvastuun tai rikosoikeudellisen vastuun kautta.

Preparação, caracterização e aplicação de fases estacionárias tipo C8 modificadas por óxidos metálicos para cromatografia líquida

This work describes three C8-stationary phases for high performance liquid chromatography based on silica metallized with ZrO2, TiO2 or Al2O3 layers, having poly(methyloctylsiloxane) immobilized onto their surfaces. The stationary phases were characterized using XRF, XAS, FTIR, SEM and elemental analysis to determine the physical characteristics of the oxide and polysiloxane layers formed on the surfaces and chromatographically to evaluate the separation parameters. The results show the changes on the silica surface and allowed proposing a structure for the oxide layer, being observed tetrahedral and octahedral structures, what is completely new in the literature. The formation of a homogeneous layer of metallic oxide (TiO2 and ZrO2) was observed on the silica. The C8-titanized and C8-aluminized stationary phases presented good chromatographic performances, with good values of asymmetry and efficiency. All stationary phase presented few loss of the polymeric layer after the HPLC, indicating that this layer is well attached on the metalized support.

Magnetic and transport properties of LaMnO3+δ, La1-xCaxMnO3, La1-xCaxMn1-yFeyO3 and La1-xSrxMn1-yFeyO3

Interest to hole-doped mixed-valence manganite perovskites is connected to the ‘colossal’ magnetoresistance. This effect or huge drop of the resistivity, ρ, in external magnetic field, B, attains usually the maximum value near the ferromagnetic Curie temperature, TC. In this thesis are investigated conductivity mechanisms and magnetic properties of the manganite perovskite compounds LaMnO3+, La1-xCaxMnO3, La1-xCaxMn1-yFeyO3 and La1- xSrxMn1-yFeyO3. When the present work was started the key role of the phase separation and its influence on the properties of the colossal magnetoresistive materials were not clear. Our main results are based on temperature dependencies of the magnetoresistance and magnetothermopower, investigated in the temperature interval of 4.2 - 300 K in magnetic fields up to 10 T. The magnetization was studied in the same temperature range in weak (up to 0.1 T) magnetic fields. LaMnO3+δ is the parent compound for preparation of the hole-doped CMR materials. The dependences of such parameters as the Curie temperature, TC, the Coulomb gap, Δ, the rigid gap, γ, and the localization radius, a, on pressure, p, are observed in LaMnO3+δ. It has been established that the dependences above can be interpreted by increase of the electron bandwidth and decrease of the polaron potential well when p is increased. Generally, pressure stimulates delocalization of the electrons in LaMnO3+δ. Doping of LaMnO3 with Ca, leading to La1-xCaxMnO3, changes the Mn3+/Mn4+ ratio significantly and brings an additional disorder to the crystal lattice. Phase separation in a form of mixture of the ferromagnetic and the spin glass phases was observed and investigated in La1- xCaxMnO3 at x between 0 and 0.4. Influence of the replacement of Mn by Fe is studied in La0.7Ca0.3Mn1−yFeyO3 and La0.7Sr0.3Mn1−yFeyO3. Asymmetry of the soft Coulomb gap and of the rigid gap in the density of localized states, small shift of the centre of the gaps with respect to the Fermi level and cubic asymmetry of the density of states are obtained in La0.7Ca0.3Mn1−yFeyO3. Damping of TC with y is connected to breaking of the double-exchange interaction by doping with Fe, whereas the irreversibility and the critical behavior of the magnetic susceptibility are determined by the phase separation and the frustrated magnetic state of La0.7Sr0.3Mn1−yFeyO3.

Det vårdande samtalet

Syftet med studien är att utgående från ett vårdvetenskapligt perspektiv utveckla en teori för det vårdande samtalet, speciellt som det gestaltar sig i den psykiatriska vårdkontexten. Avsikten är primärt att tillföra den kliniska vårdvetenskapen kunskaper om hur samtal mellan vårdare och patienter kan lindra lidande. Studien tar sin utgångspunkt i ett vårdvetenskapligt perspektiv som har sina rötter i Katie Erikssons caritativa vårdteori. Den metodologiska ansatsen är hermeneutisk. Forskningen har genomförts i form av fem delstudier som publicerats i internationella vetenskapliga tidskrifter. Metoderna som använts är: 1) en fenomenologisk hermeneutisk ansats för att beskriva det vårdande samtalet som det skildras av sjuksköterskor och patienter i intervjuer, 2) kvalitativ forskningssyntes av studier rörande begreppen närvaro, beröring och lyssnande, 3) kvalitativ forskningssyntes av studier rörande begreppen narrativer, berättelser, mening och förståelse, 4) en hermeneutisk ansats inspirerad av Paul Ricoeurs hermeneutik för att undersöka hur psykiatriska patienter i samtal med vårdare berättar om lidande, 5) en hermeneutisk analys av de etiska fundamenten för ett vårdande samtal i ljuset av Paul Ricoeurs etik. Resultaten från de fem delstudierna formar utgångspunkten för en teori för hur ett vårdande samtal kan tolkas. Teorin består av tre aspekter, den relationella, den narrativa, och den etiska, vilka undersökts i delstudierna. I den relationella aspekten kan vårdaren genom att lyssna, beröra och vara med-varande skapa en närvaro. Genom vårdarens gåva av sin närvaro, d v s att vara tillgänglig och till förfogande med hela sitt väsen, visas möjligheten till ett möte med patienten utan roller och inlärda repliker. När patienten kan besvara denna gåva med en inbjudan att dela något av sin värld, skapas en förbindelse i vilken patienten kan dela sitt lidande och sin värld med vårdaren. Den narrativa aspekten gestaltas i samtalet som patientens berättelse om sitt lidande. Lidandeberättelsen tar sin början i den fasad som patienten skyddar sig mot lidande och skam med. Frågan om varför patienten lider banar vägen både för en ny förståelse av fasaden och också för upplevelsen av en vändpunkt när fasadens skydd överges, vilket leder till en upplevelse av mening-i-lidandet. Artikuleringen av berättelsens poäng, mening-med-lidandet innebär dels en ny tolkning och förståelse för de förhållanden som rådde vid berättelsens början, dels de nya preferenser för hur patienten vill leva sitt liv som vuxit fram. Den etiska aspekten gestaltas i en relation som på grund av patientens lidande och vårdarens medlidande är asymmetrisk, men omfattar en ömsesidig respekt. Genom caritas skapar vårdaren ett utrymme där patienten kan (åter)upprätta sin självaktning, autonomi och sitt ansvar och därmed skapa möjligheter för ett gott liv.

Rahoitusvälineiden markkinat -direktiivin (MiFID) vaikutukset sijoituspalvelun tarjoajan velvollisuuksiin ja sijoittajansuojaan

Tutkielmassa selvitetään rahoitusvälineiden markkinat -direktiivin vaikutuksia sijoituspalvelun tarjoajan velvollisuuksiin ja sijoittajansuojaan oikeusdogmaattisen metodin avulla. Tutkielmassa pyritään vastaamaan seuraaviin kysymyksiin: 1) Millainen merkitys MIFID-direktiivillä on Euroopan unionin rahoitusmarkkinoiden integraatiolle? 2) Mitä velvollisuuksia sijoituspalvelun tarjoajalla on MiFID-direktiivin implementoinnin jälkeen? 3) Millainen sijoittajansuoja on MiFID-direktiivin seurauksena? 4) Mitä mahdollisia puutteita sijoittajansuojassa on, ja miten säädäntöä tulisi kehittää? MiFID-direktiivi edistää merkittävästi EU:n rahoitusmarkkinoiden integrointia. MiFID helpottaa pääomien ja sijoituspalvelujen liikkuvuutta jäsenvaltioiden rajojen yli. Sijoituspalvelun tarjoajan menettelytapavelvollisuudet ovat lisääntyneet, minkä johdosta sijoittajansuoja on parantunut. Etenkin direktiivin selonotto- ja tiedonantovelvollisuus aiheuttavat transaktiokustannuksia, mutta vähentävät toisaalta palvelun tarjoajan ja asiakkaan välistä neoklassista oikeustaloustieteellistä informaation epäsymmetriaa. Selonottovelvollisuuden sääntelyä EU:ssa kehitettäessä tulee kansallisia menettelytapoja yhdenmukaistaa. Kun palvelun tarjoajat täyttävät tiedonantovelvollisuuttaan, ei-ammattimaiset asiakkaat saattavat joutua informaatiotulvaan, josta jotkut eivät kykene erottamaan merkityksellisiä tietoja. Menettelytapojen nykyinen paras toteutus -velvollisuus on tulkinnanvarainen. Sijoitusneuvontaa koskee päämies–agentti-teorian mukainen valvontaongelma, minkä takia palvelun tarjoajan ja sijoittajan intressit tulisi säädännön avulla saada nykyistä yhteneväisemmiksi. MiFIDin säädökset eivät välttämättä johda ei-ammattimaisten asiakkaiden saaman informaation optimaaliseen allokointiin eivätkä informaatiokustannusten tehokkaaseen kohdistumiseen. Monimutkaisten rahoitusinstrumenttien käsitettä tulisi tarkentaa ja kyseisiä tuotteita tarjota ainoastaan ammattimaisille asiakkaille ja hyväksyttäville vastapuolille. Sijoittajansuojaa lisäisi heterogeenisen ei-ammattimaisten asiakkaiden ryhmän jako informaatiotarpeeseen perustuviin alaryhmiin, jotta eri asiakasryhmille voitaisiin tarjota heidän tarvitsemansa palvelu nykyistäkin kohdentuvammin. Tulisi selvittää, pitäisikö varoitus pääoman menettämisestä merkitä niihin sijoitustuotteisiin, joita riski koskee. Yhteinen eurooppalainen valvontaorganisaatio ilmeisesti voimistaisi rahoitusmarkkinoiden transparenssia, toimivuutta ja sijoittajansuojaa.

The effect of institutional settings on accounting conservatism – Empirical evidence from the Nordic countries and the transitional economies of Europe

The purpose of the dissertation is to investigate how different institutional settings affect accounting conservatism. These aspects are of interest because prior studies show that accounting quality is influenced not only by accounting standards, but also by incentives from the financial reporting environment. Accounting quality could be defined as the usefulness of financial reporting to investors and other parties in contractual relationships with the firm. In this thesis it is measured by a single, but important attribute, accounting conservatism. Conservatism is understood as asymmetric timeliness of loss and gain recognition. The study examines the role and the users of financial statements, and how changes in both respectively affect accounting conservatism. These two questions are explored in two different research environments, the Nordic countries and the transitional economies of Europe. The results of the dissertation indicate that the degree of accounting conservatism increases the closer the financial statement comes to fulfilling the informational role of financial reporting. Secondly, it is also implied that foreign investors demand conservative accounting numbers in order to mitigate the problem of information asymmetry. Overall, the findings suggest that earnings conservatism is useful and increases the quality of financial information for the purpose of decision-making and contracting. These results are of relevance to managers, investors and other users of financial reporting information, as well as to standard setters.

Quantitative Sustainability Disclosure –An international comparison and its impact on investor valuation

This research focuses on the link between quantitative sustainability disclosure and information asymmetry. It builds upon previous research which links information asymmetry with voluntary disclosure. Stakeholders from the financial services sector claim that sustainability disclosure needs to be more numerical and comparable between companies. This research covers 111 firms from Denmark, Finland, the Netherlands and Sweden from non-service industries and studies how quantitative their sustainability disclosure is, and whether or not there is a negative relation with information asymmetry. The results support the hypotheses, where two out of three information asymmetry proxies have a significant negative relation with quantitative disclosure. Size is supported as a moderating factor. Quantitativity also proves to have a significant link with third party sustainability ratings. The direct link between quantitativity and cost of capital is not however supported.