A Dependency Parsing Approach to Biomedical Text Mining

Biomedical research is currently facing a new type of challenge: an excess of information, both in terms of raw data from experiments and in the number of scientific publications describing their results. Mirroring the focus on data mining techniques to address the issues of structured data, there has recently been great interest in the development and application of text mining techniques to make more effective use of the knowledge contained in biomedical scientific publications, accessible only in the form of natural human language. This thesis describes research done in the broader scope of projects aiming to develop methods, tools and techniques for text mining tasks in general and for the biomedical domain in particular. The work described here involves more specifically the goal of extracting information from statements concerning relations of biomedical entities, such as protein-protein interactions. The approach taken is one using full parsing—syntactic analysis of the entire structure of sentences—and machine learning, aiming to develop reliable methods that can further be generalized to apply also to other domains. The five papers at the core of this thesis describe research on a number of distinct but related topics in text mining. In the first of these studies, we assessed the applicability of two popular general English parsers to biomedical text mining and, finding their performance limited, identified several specific challenges to accurate parsing of domain text. In a follow-up study focusing on parsing issues related to specialized domain terminology, we evaluated three lexical adaptation methods. We found that the accurate resolution of unknown words can considerably improve parsing performance and introduced a domain-adapted parser that reduced the error rate of theoriginal by 10% while also roughly halving parsing time. To establish the relative merits of parsers that differ in the applied formalisms and the representation given to their syntactic analyses, we have also developed evaluation methodology, considering different approaches to establishing comparable dependency-based evaluation results. We introduced a methodology for creating highly accurate conversions between different parse representations, demonstrating the feasibility of unification of idiverse syntactic schemes under a shared, application-oriented representation. In addition to allowing formalism-neutral evaluation, we argue that such unification can also increase the value of parsers for domain text mining. As a further step in this direction, we analysed the characteristics of publicly available biomedical corpora annotated for protein-protein interactions and created tools for converting them into a shared form, thus contributing also to the unification of text mining resources. The introduced unified corpora allowed us to perform a task-oriented comparative evaluation of biomedical text mining corpora. This evaluation established clear limits on the comparability of results for text mining methods evaluated on different resources, prompting further efforts toward standardization. To support this and other research, we have also designed and annotated BioInfer, the first domain corpus of its size combining annotation of syntax and biomedical entities with a detailed annotation of their relationships. The corpus represents a major design and development effort of the research group, with manual annotation that identifies over 6000 entities, 2500 relationships and 28,000 syntactic dependencies in 1100 sentences. In addition to combining these key annotations for a single set of sentences, BioInfer was also the first domain resource to introduce a representation of entity relations that is supported by ontologies and able to capture complex, structured relationships. Part I of this thesis presents a summary of this research in the broader context of a text mining system, and Part II contains reprints of the five included publications.

Development of a systematic computer vision-based method to analyse and compare images of false identity documents for forensic intelligence purposes-Part I: acquisition, calibration and validation issues

Following their detection and seizure by police and border guard authorities, false identity and travel documents are usually scanned, producing digital images. This research investigates the potential of these images to classify false identity documents, highlight links between documents produced by a same modus operandi or same source, and thus support forensic intelligence efforts. Inspired by previous research work about digital images of Ecstasy tablets, a systematic and complete method has been developed to acquire, collect, process and compare images of false identity documents. This first part of the article highlights the critical steps of the method and the development of a prototype that processes regions of interest extracted from images. Acquisition conditions have been fine-tuned in order to optimise reproducibility and comparability of images. Different filters and comparison metrics have been evaluated and the performance of the method has been assessed using two calibration and validation sets of documents, made up of 101 Italian driving licenses and 96 Portuguese passports seized in Switzerland, among which some were known to come from common sources. Results indicate that the use of Hue and Edge filters or their combination to extract profiles from images, and then the comparison of profiles with a Canberra distance-based metric provides the most accurate classification of documents. The method appears also to be quick, efficient and inexpensive. It can be easily operated from remote locations and shared amongst different organisations, which makes it very convenient for future operational applications. The method could serve as a first fast triage method that may help target more resource-intensive profiling methods (based on a visual, physical or chemical examination of documents for instance). Its contribution to forensic intelligence and its application to several sets of false identity documents seized by police and border guards will be developed in a forthcoming article (part II).

Towards actionable international comparisons of health system performance: expert revision of the OECD framework and quality indicators.

OBJECTIVE: To review and update the conceptual framework, indicator content and research priorities of the Organisation for Economic Cooperation and Development's (OECD) Health Care Quality Indicators (HCQI) project, after a decade of collaborative work. DESIGN: A structured assessment was carried out using a modified Delphi approach, followed by a consensus meeting, to assess the suite of HCQI for international comparisons, agree on revisions to the original framework and set priorities for research and development. SETTING: International group of countries participating to OECD projects. PARTICIPANTS: Members of the OECD HCQI expert group. RESULTS: A reference matrix, based on a revised performance framework, was used to map and assess all seventy HCQI routinely calculated by the OECD expert group. A total of 21 indicators were agreed to be excluded, due to the following concerns: (i) relevance, (ii) international comparability, particularly where heterogeneous coding practices might induce bias, (iii) feasibility, when the number of countries able to report was limited and the added value did not justify sustained effort and (iv) actionability, for indicators that were unlikely to improve on the basis of targeted policy interventions. CONCLUSIONS: The revised OECD framework for HCQI represents a new milestone of a long-standing international collaboration among a group of countries committed to building common ground for performance measurement. The expert group believes that the continuation of this work is paramount to provide decision makers with a validated toolbox to directly act on quality improvement strategies.

Methodology used in studies reporting chronic kidney disease prevalence : a systematic literature review.

BACKGROUND: Many publications report the prevalence of chronic kidney disease (CKD) in the general population. Comparisons across studies are hampered as CKD prevalence estimations are influenced by study population characteristics and laboratory methods. METHODS: For this systematic review, two researchers independently searched PubMed, MEDLINE and EMBASE to identify all original research articles that were published between 1 January 2003 and 1 November 2014 reporting the prevalence of CKD in the European adult general population. Data on study methodology and reporting of CKD prevalence results were independently extracted by two researchers. RESULTS: We identified 82 eligible publications and included 48 publications of individual studies for the data extraction. There was considerable variation in population sample selection. The majority of studies did not report the sampling frame used, and the response ranged from 10 to 87%. With regard to the assessment of kidney function, 67% used a Jaffe assay, whereas 13% used the enzymatic assay for creatinine determination. Isotope dilution mass spectrometry calibration was used in 29%. The CKD-EPI (52%) and MDRD (75%) equations were most often used to estimate glomerular filtration rate (GFR). CKD was defined as estimated GFR (eGFR) <60 mL/min/1.73 m(2) in 92% of studies. Urinary markers of CKD were assessed in 60% of the studies. CKD prevalence was reported by sex and age strata in 54 and 50% of the studies, respectively. In publications with a primary objective of reporting CKD prevalence, 39% reported a 95% confidence interval. CONCLUSIONS: The findings from this systematic review showed considerable variation in methods for sampling the general population and assessment of kidney function across studies reporting CKD prevalence. These results are utilized to provide recommendations to help optimize both the design and the reporting of future CKD prevalence studies, which will enhance comparability of study results.

Adaptación del Índice de Bienestar Personal para adolescentes en lengua española y portuguesa

The psychometric properties of the Personal Wellbeing Index are analyzed on a Spanish and Portuguese adolescent sample. We test the reliability of the scale using Cronbach’s alpha. And complementarily we analyze the item-total correlations in the different wellbeing domains included. We execute an exploratory factor analysis (principal components) and a multigroup Confirmatory Factor Analysis (CFA). The results show that Cronbach’s alpha is 0.79 for the Chilean version and in the Brazilian version is 0.78 confirming adequate levels of reliability found in previous studies. Correlations between fields of well-being shows values ranging between 0.224 and 0.496 for Chile and from 0.24 to 0.46 for Brazil. The results are similar to those obtained in other countries. The monofactorial structure of the scale is cinfirmed, also the adjustment to the scale structure to the data of the two samples and the comparability of means of global indices. The results suggest the existence of other well-being domains that had not been considered in the original proposal of the scale

Taivekartongin sävytys ja jälkikellertyminen

Taivekartongilta vaaditaan nykyisin korkealaatuista ja tasaista ulkonäköä. Pakkauksen tehtävänä on parantaa myyntiä hyvällä ulkonäöllä ja siisteydellä sekä antaa informaatiota ja käyttöohjeita. Tässä diplomityössä tutkittiin taivekartongin sävyttämistä, optisia ominaisuuksia sekä vaaleuden ja sävyjen pysyvyyttä. Kirjallisuusosassa käsiteltiin paperin ja kartongin optisia ominaisuuksia sekä esiteltiin Kubelka-Munkin teoria. Teoriaa voidaan käyttää mm. monikerroskartongin vaaleuden ja sävyjen mallintamisessa. Esillä oli paljon eri prosessitekijöitä, massoja ja kemikaaleja, jotka vaikuttavat kartongin vaaleuteen ja sävyyn. Työssä kärsiteltiin myös keinoja vaikuttaa kartongin sävyyn sävytyksellä ja sävytyksen eri tapoja. Toisaalta vaaleuden ja sävyn pysyvyyteen vaikuttaa kartongin jälkikellertyminen. Työssä tarkasteltiin jälkikellertymisen mekanismeja ja siihen vaikuttavia tekijöitä sekä esitettiin keinoja ennalta ehkäistä ja estää kellertymistä. Kokeellisessa osassa käsiteltiin massan ja päällystyspastan värjäyksen vaikutuksia ulkonäköön ja optisiin ominaisuuksiin. Sinertävillä tai violeteilla sävyväreillä voidaan pienentää mekaanisten massojen luonnollista kellertyvyyttä, jolloin valkoisuuden vaikutelma lisääntyy. Värien lisääminen heikentää vaaleutta, koska värien lisäys nostaa valon absorptiota. Tämän takia on tärkeää lisätä väri mielellään siihen kerrokseen, jossa kellertävä massa on, joka on tyypillisesti kartongin keskikerros. Pintakerrokset ovat valkaistua sellua ja niillä on tärkeä merkitys kartongin vaaleudelle, joten värin lisäys pintaan alentaisi vielä merkittävämmin kartongin kokonaisvaaleutta. Pastan värjäyksellä saadaan tasaisuutta värjäykseen, mutta sävyn säätö on tehtävä edelleen massavärjäyksellä. Pigmenttivärien käytöllä pystytään lisäämään mm. valonkestoa kartongille. Kartongin ja paperituotteiden valonkeston tutkimiseen ei ole olemassa standardia. Työssä tutkittiin laboratorio-olosuhteissa ja huonevalossa vanhentuneiden kartonkinäytteiden vertailtavuutta. Materiaalivalinnoilla pystytään vaikuttamaan valon-kestoon. Siihen vaikuttavat mm. massan laatu, lateksivalinta sekä pigmenttivärin käyttö. Mekaanista massaa sisältävät tuotteet kellertyvät pääasiassa ligniinin takia. Ligniini sisältää paljon UV-säteilyyn reagoivia ryhmiä, jotka muuttuvat värilliseksi lisäten kellertymistä. Valkaistujen sellujen vanhentuminen on suhteessa mekaaniseen massaan erittäin vähäistä. SA-lateksin havaittiin suojaavan vaaleuden menetykseltä ja lisäävän sävyn pysyvyyttä paremmin kuin SB-lateksi.

Pk-IFRS -standardin edut ja ongelmat - empiirinen tutkimus

Pk-IFRS -standardi on pk-yritysten sekä niiden tilinpäätösten käyttäjien erityistarpeita ajatellen kehitetty kansainvälinen tilinpäätösstandardi. Tämän tutkimuksen tavoitteena on selvittää, mitä etuja ja ongelmia standardin soveltamiseen liittyy Euroopan unionin pk-yritysten keskuudessa. Tutkimuksessa tarkastellaan erityisesti tilinpäätösten laatijoiden ja käyttäjien näkemyksiä standardin eduista ja ongelmista sekä tilinpäätösinformaation vertailukelpoisuudesta. Alatavoitteena on myös selvittää, mitkä tekijät vaikuttavat standardin kannatukseen ja vastustukseen. Tutkimus on laadullinen. Sen empiirinen aineisto muodostuu kommenttikirjeistä, joita eri Euroopan valtioiden sidosryhmät lähettivät vastauksiksi standardia koskeneeseen EU-komission konsultaatioon. Pk-IFRS:n soveltamispäätöstä tehtäessä on kyse laatijoille koituvien kustannusten ja käyttäjille aiheutuvien hyötyjen tasapainottelusta. Tutkimuksesta käy kuitenkin ilmi, että pk-IFRS ei ole optimaalinen ratkaisu EU:n pk-yrityksiä ja niiden tilinpäätösten käyttäjiä ajatellen. Tilinpäätösten käyttäjät kokevat EU:n tilinpäätösdirektiivien tarjoavan riittävän vertailukelpoisuuden tason. Kansainvälistä liiketoimintaa harjoittavien pk-yritysten kannalta pk-IFRS olisi kuitenkin edullinen vaihtoehto. Standardia kohtaan esitettyihin puoltaviin ja vastustaviin näkökantoihin vaikuttaa oleellisesti se, kuinka paljon valtion kansalliset laskentakäytännöt eroavat pk-IFRS:stä. Standardin vastustajille luonteenomaista on, että ne edustavat kontinentaalisia valtioita, joiden kirjanpidon ja verotuksen välillä on läheinen yhteys. Sidosryhmistä erityisesti tilintarkastusyhteisöt, tilitoimistot yms. laskentaorganisaatiot kannattavat standardia.

Tutkimus- ja kehittämistoiminnan tilinpäätöskäsittely teknologiayrityksissä

Tutkimus- ja kehittämistoiminta (t&k-toiminta) on teknologia-alalla yhä merkittävämmässä roolissa. Tutkimuksen tavoitteena on selvittää, miten t&k-toiminta ja sen raportointikäytännöt ovat kehittyneet teknologiayrityksissä vuosina 2007-2011. Tutkimus toteutettiin kuvailevana analyysinä, jossa aineistona toimi Helsingin pörssiin vuonna 2012 listattujen teknologiayritysten tilinpäätöstiedot. Tutkimustulokset osoittavat teknologiayritysten yhteenlaskettujen t&k-menojen vähentyneen, pääasiassa Nokian takia, vuosina 2007-2011. Yritysten välillä oli havaittavissa selkeitä eroavaisuuksia t&k-toiminnan laajuuden sekä kehittämismenojen kirjauskäytäntöjen välillä. Yritykset luokiteltiin t&k-toiminnan laajuuden perusteella t&k-passiivisiin, t&k-neutraaleihin sekä t&k-intensiivisiin. Vaikka IAS 38 vaatii kehittämismenojen taseaktivointia aktivointiedellytysten täyttyessä, määrää yritysten konservatiivisuuden taso lopulta kehittämismenojen kirjauskäytännön. Eroavaisuudet konservatiivisuuden suhteen saattavat näin ollen heikentää yritysten tilinpäätöstietojen läpinäkyvyyttä ja vertailukelpoisuutta t&k-toiminnan suhteen.

Evaluation of methods for estimating energy performance of biogas production

This study focused on identifying various system boundaries and evaluating methods of estimating energy performance of biogas production. First, the output-input ratio method used for evaluating energy performance from the system boundaries was reviewed. Secondly, ways to assess the efficiency of biogas use and parasitic energy demand were investigated. Thirdly, an approach for comparing biogas production to other energy production methods was evaluated. Data from an existing biogas plant, located in Finland, was used for the evaluation of the methods. The results indicate that calculating and comparing the output-input ratios (Rpr1, Rpr2, Rut, Rpl and Rsy) can be used in evaluating the performance of biogas production system. In addition, the parasitic energy demand calculations (w) and the efficiency of utilizing produced biogas (η) provide detailed information on energy performance of the biogas plant. Furthermore, Rf and energy output in relation to total solid mass of feedstock (FO/TS) are useful in comparing biogas production with other energy recovery technologies. As a conclusion it is essential for the comparability of biogas plants that their energy performance would be calculated in a more consistent manner in the future.

Sähköisen taloushallinnon kehityksen vaikutukset tilintarkastukseen ammattilehtikirjoittelussa vuosina 2003-2013

Tutkielman tavoitteena on tutkia, miten sähköisen taloushallinnon kehitys on vaikuttanut tilintarkastukseen ja miten se näkyy ammattilehtien kirjoittelussa vuosina 2003-2013. Alatavoitteina tutkitaan, mitä sähköisen taloushallinnon kehityksen tuomia hyötyjä ja haasteita on havaittu tarkastellussa suomalaisessa sekä kansainvälisessä ammattilehtikirjoittelussa tilintarkastuksen näkökulmasta. Kyseessä on laadullinen tutkimus ja tutkimusmetodologiana käytetään sisällönanalyysia. Tietokoneavusteisten tilintarkastuksen tekniikoiden kehityksen seurauksena tekniikoita voidaan kehittää kohti jatkuvaa tilintarkastusta. Kannettavien tietokoneiden ja pilvipalveluiden seurauksena tilintarkastuksesta on tullut enemmän ajasta ja paikasta riippumatonta. XBRL:n avulla tietojen vertailtavuus, luotettavuus ja tarkkuus ovat parantuneet. Haasteina voidaan nähdä tilintarkastajien IT-taitojen kehittämisen tarve sekä asiakkaan ja tilintarkastusyhteisön tietojärjestelmien yhteensopivuus. Hyvätkin ohjelmistot voivat altistaa väärinkäytöksille, jolloin tarvitaan uusia innovatiivisia tekniikoita väärinkäytösten havaitsemiseen. Tutkielman empiirisen osion luotettavuus perustuu ammattilehtien artikkeleiden kirjoittajien näkökulmiin. Tilintarkastusalan kehittyminen tulevaisuudessa on kiinni kehittyvän tekniikan lisäksi asenteista.

Tuotteen ympäristöjalanjälki -menetelmän soveltuvuus ympäristöviestinnän työkaluksi

Työn tavoitteena oli arvioida tuotteen ympäristöjalanjälki –menetelmän (PEF) käytettävyyttä ympäristöviestintään. PEF-metodologiaa vertailtiin muihin ympäristötehokkuuden laskenta- ja viestintätyökaluihin, jotta löydettäisiin PEF:n epäkohtia ja vaihtoehtoja menetelmäpäätösten toimivammaksi muuttamiseen. Työssä tehtiin myös haastattelututkimus yhden tuoteryhmäsääntöjen (PEFCR) laadintaprojektin toimijoille, jotta löydettäisiin PEFCR:ien laadinnan epäkohtia. Työssä arviointiin myös testattavaksi ehdotetun PEF-merkinnän käytettävyyttä ympäristöviestintään. Työssä todettiin, että PEF-metodologiassa on epäkohtia, joiden todellinen merkitys ja vaikutus selviävät vasta pilottivaiheen jälkeen. PEF:ssä on annettu vähemmän vapauksia menetelmäpäätösten tekoon kuin nykyisissä menetelmissä, mutta se mahdollistaa paremmat lähtökohdat halvemmille ja vertailukelpoisemmille selvityksille. Ympäristöviestinnän kannalta erityisesti PEFCR:ien toimivaksi saaminen on hyvin tärkeää, jotta työkalulla on edellytykset käyttöönotolle. Lähtökohdat PEFCR:ien toimivaksi saamiseksi ovat kunnossa, mutta projektin tiukka aikataulu yhdessä PEF:n ja PEFCR:ien kyseenalaisten menetelmäpäätösten kanssa saattavat aiheuttaa ongelmia. Menetelmän käyttöönoton onnistumiseen vaikuttavat myös työkalusta riippumattomat asiat, kuten nykyiset ympäristömerkintäjärjestelmät sekä kuluttajakäytöksen muuttamiseen ja yritysmaailman integrointiin PEF:n käyttäjiksi liittyvät haasteet.

Family ownership – a source of sustainable success in listed companies

Extant research on exchange-listed firms has acknowledged that the concentration of ownership and the identity of owners make a difference. In addition, studies indicate that firms with a dominant owner outperform firms with dispersed ownership. During the last few years, scholars have identified one group of owners, in particular, whose ownership stake in publicly listed firm is positively related to performance: the business family. While acknowledging that family firms represent a unique organizational form, scholars have identified various concepts and theories in order to understand how the family influences organizational processes and firm performance. Despite multitude of research, scholars have not been able to present clear results on how firm performance is actually impacted by the family. In other words, studies comparing the performance of listed family and other types of firms have remained descriptive in nature since they lack empirical data and confirmation from the family business representatives. What seems to be missing is a convincing theory that links the involvement and behavioral consequences. Accordingly, scholars have not yet come to a mutual understanding of what precisely constitutes a family business. The variety of different definitions and theories has made comparability of different results difficult for instance. These two issues have hampered the development of a rigorous theory of family business. The overall objective of this study is to describe and understand how the family as a dominant owner can enhance firm performance, and can act a source of sustainable success in listed companies. In more detail, in order to develop understanding of the unique factors that can act as competitive advantages for listed family firms, this study is based on a qualitative approach and aims at theory development, not theory verification. The data in this study consist of 16 thematic interviews with CEOs, members of the board, supervisory board chairs, and founders of Finnish listed-family firms. The study consists of two parts. The first part introduces the research topic, research paradigm, methods, and publications, and also discusses the overall outcomes and contributions of the publications. The second part consists of four publications that address the research questions from different viewpoints. The analyses of this study indicate that family ownership in listed companies represents a structure that differs from the traditional views of agency and stewardship, as well as from resource-based and stakeholder views. As opposed to these theories and shareholder capitalism which consider humans as individualistic, opportunistic, and self-serving, and assume that the behaviors of an investor are based on the incentives and motivations to maximize private profits, the family owners form a collective social unit that is motivated to act together toward their mutual purpose or benefit. In addition, socio-emotional and psychological elements of ownership define the family members as owners, rather than the legal and financial dimensions of ownership. That is, collective psychological ownership of family over the business (F-CPO) can be seen as a construct that comprehensively captures the fusion between the family and the business. Moreover, it captures the realized, rather than merely potential, family influence on and interaction with the business, and thereby brings more theoretical clarity of the nature of the fusion between the family and the business, and offers a solution to the problem of family business definition. This doctoral dissertation provides academics, policy-makers, family business practitioners, and the society at large with many implications considering family and business relationships.

Converter-Fed Induction Motor Losses: Determination With IEC Methods

Energy efficiency is an important topic when considering electric motor drives market. Although more efficient electric motor types are available, the induction motor remains as the most common industrial motor type. IEC methods for determining losses and efficiency of converter-fed induction motors were introduced recently with the release of technical specification IEC/TS 60034-2-3. Determining the induction motor losses with IEC/TS 60034-2-3 method 2-3-A and assessing the practical applicability of the method are the main interests of this study. The method 2-3-A introduces a specific test converter waveform to be used in the measurements. Differences between the induction motor losses with a test converter supply, and with a DTC converter supply are investigated. In the IEC methods, the tests are run at motor rated fundamental voltage, which, in practice, requires the frequency converter to be fed with a risen input voltage. In this study, the tests are run on both frequency converters with artificially risen converter input voltage, resulting in rated motor fundamental input voltage as required by IEC. For comparison, the tests are run with both converters on normal grid input voltage supply, which results in lower motor fundamental voltage and reduced flux level, but should be more relevant from practical point of view. According to IEC method 2-3-A, tests are run at rated motor load, and to ensure comparability of the results, the rated load is used in the grid-fed converter measurements, although motor is overloaded while producing the rated torque at reduced flux level. The IEC 2-3-A method requires also sinusoidal supply test results with IEC method 2-1-1B. Therefore, the induction motor losses with the recently updated IEC 60034-2-1 method 2-1-1B are determined at the motor rated voltage, but also at two lower motor voltages, which are according to the output fundamental voltages of the two network-supplied converters. The method 2-3-A was found to be complex to apply but the results were stable. According to the results, the method 2-3-A and the test converter supply are usable for comparing losses and efficiency of different induction motors at the operating point of rated voltage, rated frequency and rated load, but the measurements do not give any prediction of the motor losses at final application. One might therefore strongly criticize the method’s main principles. It seems, that the release of IEC 60034-2-3 as a technical specification instead of a final standard for now was justified, since the practical relevance of the main method is questionable.

Accounting treatment for intangible assets acquired in a business combination under IFRS

The role of intangible assets and the amount of business combinations have increased significantly during the last decades which has caused the need to reform and harmonise the accounting treatment for acquired intangible assets. The aim of this study is to find out how the new accounting standard for business combinations, IFRS 3, has affected the accounting treatment for identifiable intangible assets and goodwill in the examined media companies between 2005 and 2014. The most significant reforms introduced by IFRS 3 have been goodwill impairment test and the fair value accounting for acquired intangibles. This study is conducted by using a descriptive analysis and the empirical data consists of financial statement information of listed Finnish and international media companies. The main objectives of IFRS 3 have been to reduce the amount of acquisition cost allocated to goodwill and allow companies to recognise new intangible assets separately from goodwill. The results of this study show that the amount of the acquisition cost allocated to goodwill has decreased during the examined period and due to the fair value accounting, business acquisitions have made new intangible assets visible that otherwise would have not met the recognition criteria under IAS 38. The application of IFRS has revealed a big amount of invisible assets in the balance sheets but at the same time this has reduced the comparability between companies.

Interpersonal Comparisons of Well-Being

This paper, which is to be published as a chapter in the Oxford Handbook of Political Economy, provides an introduction to social-choice theory with interpersonal comparisons of well-being. We argue that the most promising route of escape from the negative conclusion of Arrow’s theorem is to use a richer informational environment than ordinal measurability and the absence of interpersonal comparability of well-being. We discuss welfarist social evaluation (which requires that the levels of individual well-being in two alternatives are the only determinants of their social ranking) and present characterizations of some important social-evaluation orderings.