The economic consequences of financial reporting on Twitter

The use of social media has spread into many different areas including marketing, customer service, and corporate disclosure. However, our understanding of the timely effect of financial reporting information on Twitter is still limited. In this paper, we propose to examine the timely effect of financial reporting information on Twitter in Australian context, as reflect in the stock market trading. We aim to find out whether the level of information asymmetry within the stock market will be reduced, after the introduction of Twitter and the use of Twitter for financial reporting purpose

The economic consequences of corporate financial reporting on Twitter

The use of social media has spread into many different areas including marketing, customer service, and corporate disclosure. However, our understanding of the timely effect of financial reporting information on Twitter is still limited. In this paper, we examine the timely effect of financial reporting information on Twitter in the Australian context, as reflected in the follow-up stock market reaction. With the use of event methodology and comparative setting, we find that financial reporting disclosure on Twitter reduces the information asymmetry level. This is evidenced by reduction of bid-ask spread and increase of share trading volume. The results of this study imply that financial reporting disclosure on social media assists the dissemination of information and the stock market response to this information

Phylogenetics, taxon delimitation and phylogenetic diversity

Throughout the history of Linnean taxonomy, species have been described with varying degrees of justification. Many descriptions have been based on only a few ambiguous morphological characters. Moreover, species have been considered natural, well-defined units whereas higher taxa have been treated as disparate, non-existent creations. In the present thesis a few such cases were studied in detail. Often the species-level descriptions were based on only a few specimens and the variation previously thought to be interspecific was found to be intraspecific. In some cases morphological characters were sufficient to resolve the evolutionary relationships between the taxa, but generally more resolution was gained by the addition of molecular evidence. However, both morphological and molecular data were found to be deceptive in some cases. The DNA sequences of morphologically similar specimens were found to differ distinctly in some cases, whereas in other closely related species the morphology of specimens with identical DNA sequences differed substantially. This study counsels caution when evolutionary relationships are being studied utilizing only one source of evidence or a very limited number of characters (e.g. barcoding). Moreover, it emphasizes the importance of high quality data as well as the utilization of proper methods when making scientific inferences. Properly conducted analyses produce robust results that can be utilized in numerous interesting ways. The present thesis considered two such extensions of systematics. A novel hypothesis on the origin of bioluminescence in Elateriformia beetles is presented, tying it to the development of the clicking mechanism in the ancestors of these animals. An entirely different type of extension of systematics is the proposed high value of the white sand forests in maintaining the diversity of beetles in the Peruvian Amazon. White sand forests are under growing pressure from human activities that lead to deforestation. They were found to harbor an extremely diverse beetle fauna and many taxa were specialists living only in this unique habitat. In comparison to the predominant clay soil forests, considerably more elateroid beetles belonging to all studied taxonomic levels (species, genus, tribus, and subfamily) were collected in white sand forests. This evolutionary diversity is hypothesized to be due to a combination of factors: (1) the forest structure, which favors the fungus-plant interactions important for the elateroid beetles, (2) the old age of the forest type favoring survival of many evolutionary lineages and (3) the widespread distribution and fragmentation of the forests in the Miocene, favoring speciation.

Captured by conventions : On objectivity and factuality in international news agency discourse

The thesis explores the discourse of two global news agencies, the Associated Press (AP) and Reuters, which together with the French AFP are generally regarded as the world s leading news distributors. A glance at the guidelines given by AP and Reuters to their journalists shows that these two news agencies make a lot of effort to strive for objectivity the well-known journalistic ideal, which, however, is an almost indefinable concept. In journalism textbooks definitions of objectivity often contain various components: detachment, nonpartisanship, facticity, balance, etc. AP and Reuters, too, in their guidelines, present several other ideals besides objectivity , viz., reliability, accuracy, balance, freedom from bias, precise sourcing, reporting the truth, and so on. Other central concepts connected to objectivity are neutrality and impartiality. However, objectivity is, undoubtedly, the term that is most often mentioned when the ethics of journalism is discussed, acting as a kind of umbrella term for several related journalistic ideals. It can even encompass the other concept that is relevant for this study, that of factuality. These two intertwined concepts are extremely complex; paradoxically, it is easier to show evidence of the lack of objectivity or factuality than of their existence. I argue that when journalists conform to the deep-rooted conventions of objective news reporting, facts may be blurred, and the language becomes vague and ambiguous. As global distributors of news, AP and Reuters have had an influential role in creating and reinforcing conventions of (at least English-language) news writing. These conventions can be seen to work at various levels of news reporting: the ideological (e.g., defining what is regarded as newsworthy, or who is responsible), structural (e.g., the well-known inverted pyramid model), and stylistic (e.g., presupposing that in hard news reports, the journalist s voice should be backgrounded). On the basis of my case studies, I have found four central conventions to be worthy of closer examination: the conventional structure of news reports, the importance of newsworthiness, the tactics of impersonalisation which tends to blur news actors responsibility, and the routines of presenting emotions. My linguistic analyses draw mainly on M.A.K. Halliday s Systemic Functional Grammar, on notions of transitivity, ergativity, nominalisation and grammatical metaphor. The Appraisal framework, too, has provided useful tools for my analyses. The thesis includes six case studies dealing with the following topics: metaphors in political reporting, terrorism discourse, terrorism fears, emotions more generally, unnamed sources as rhetorical constructs, and responsibility in the convention of attribution.

CSR in forest industry – Case study of reporting and implementation of social responsibility in three international companies

Corporate Social Responsibility (CSR) has become increasingly important topic in forest industries, and other global companies, in recent years. Globalisation, faster information delivery and demand for sustainable development have set new challenges for global companies in their business operations. Also the importance of stakeholder relations, and pressure to become more transparent has increased in the forest industries. Three dimensions of corporate responsibility economic, environmental and social, are often included in the concept of CSR. Global companies mostly claim that these dimensions are equally important. This study analyses CSR in forest industry and has focus on reporting and implementation of social responsibility in three international companies. These case-companies are Stora Enso, SCA and Sappi, and they have different geographical base, product portfolios and therefore present interesting differences about forest industry strategy and CSR. Global Reporting Initiative (GRI) has created the most known and used reporting framework in CSR reporting. GRI Guidelines have made CSR reporting a uniform function, which can also be measured between companies and different sectors. GRI Guidelines have also made it possible to record and control CSR data in the companies. In recent years the use of GRI Guidelines has increased substantially. Typically CSR reporting on economic and environmental responsibility have been systematic in the global companies and often driven by legistlation and other regulations. However the social responsibility has been less regulated and more difficult to compare. Therefore it has previously been often less focused in the CSR reporting of the global companies. The implementation and use of GRI Guidelines have also increased dialogue on social responsibility issues and stakeholder management in global companies. This study analyses the use of GRI´s framework in the forest industry companies´ CSR reporting. This is a qualitative study and the disclosure of data is empricially analysed using content analysis. Content analysis has been selected as a method for this study because it makes it possible to use different sources of information. The data of this study consists of existing academic literature of CSR, sustainability reports of thecase-companies during 2005-2009, and the semi-structured interviews with company representatives. Different sources provide the possibility to look at specific subject from more than one viewpoint. The results of the study show that all case-companies have relatively common themes in their CSR disclosure, and the differences rise mainly from their product-portfolios, and geographic base. Social impacts to local communities, in the CSR of the companies, were mainly dominated by issues concerning creating wealth to the society and impacting communities through creation of work. The comparability of the CSR reporting, and especially social indicators increased significally from 2007 onwards in all case-companies. Even though the companies claim that three dimensions of CSR economic, environmental and social are equally important economic issues and profit improvement still seem to drive most of the operations in the global companies. Many issues that are covered by laws and regulations are still essentially presented as social responsibility in CSR. However often the unwelcome issues in companies like closing operations are covered just briefly, and without adequate explanation. To make social responsibility equally important in the CSR it would demand more emphasis from all the case-companies. A lot of emphasis should be put especially on the detail and extensiveness of the social reponsibility content in the CSR.

Influence of subcontracting on innovation and economic performance of SMEs in Indian automobile industry

Trans-national corporations (TNCs) expanding their production bases to developing countries having better conditions of manufacturing and domestic markets provide increasing opportunities for local small and medium enterprises (SMEs) to have subcontracting relationships with these TNCs Even though some theoretical and a few empirical studies throw light on the nature of assistance provided by TNCs to local SMEs through subcontracting relationships none of the studies so far quantitatively analysed the role of this assistance on the innovative performance of SMEs leading to better economic performance This paper probes the extent and diversity of assistance received by SMEs from a TNC through subcontracting and its influence on technological innovations and economic performance of SMEs in the Indian automobile industry Indian SMEs were able to receive mainly product related and purchase process assistance thereby implying that subcontracting is largely confined to purchase-supply relationships However assistance received through subcontracting is beneficial as It promoted technological innovations of SMEs the higher the degree of assistance the higher the level of innovations carried out by these SMEs which in turn facilitated their economic performance Thus this paper substantiates in the Indian context that subcontracting relationship with a TNC can be an important source of technological innovations and enhanced economic performance for SMEs (C) 2010 Elsevier Ltd All rights reserved

On the improvement of diversity-multiplexing gain tradeoff in a training based TDD-simo system

This paper investigates the diversity-multiplexing gain tradeoff (DMT) of a time-division duplex (TDD) single-input multiple-output (SIMO) system with perfect channel state information (CSI) at the receiver (CSIR) and partial CSI at the transmitter (CSIT). The partial CSIT is acquired through a training sequence from the receiver to the transmitter. The training sequence is chosen in an intelligent manner based on the CSIR, to reduce the training length by a factor of r, the number of receive antennas. We show that, for the proposed training scheme and a given channel coherence time, the diversity order increases linearly with r for nonzero multiplexing gain. This is a significant improvement over conventional orthogonal training schemes.

Environmental variables and fisheries diversity of the Naaf River Estuary, Bangladesh

The Naaf River estuary is one of the large estuaries in the Bangladesh coastal region not to have been affected by extensive human disturbance. This research provides information about the fisheries diversity status by Estuarine Set Bag Net (ESBN) sampling relation to physicochemical variables in both spatio-temporal scales. About 25 km of the lower estuary was divided into six zones for sample collection by considering the accessibility and availability of the ESBN operation, fish landing centers and location of the fishing villages. In total 48 samples have been analyzed which were taken throughout March to October 2006. To quantify the species diversity, all fisheries data were analyzed by using EstimateS and EcoSim software which accounts the different diversity indices viz., species richness, Shannon–Wiener diversity Index, Dominance and Evenness index. The research results demonstrate that the Naaf River estuary is a habitat of 161 (species richness, Sobs=161, Choa 1=162±2.34, ACE=161.73) different species which belong to 98 fin fishes, 23 shrimps and prawns,13 crabs, 11 molluscs, 3 echinoderms, 4 other crustaceans;while 9 remain unidentified. Results on the aquatic environment,mainly salinity and turbidity were found to have a major influence on their occurrence and distribution. All the findings indicated that the Naaf River estuary is a highly productive system and provides a favourable environment for large variety of estuarine species assemblages.

Down to earth thoughts on conserving aquatic genetic diversity

A discussion is presented on the topic of maintaining genetic diversity in aquatic ecosystems, considering the various threats caused by irreversible damage or loss to the environment. The current situation in aquaculture and future prospects regarding the conservation and protection of endangered species are outlined, describing the case of tilapias in Africa as one particular example of fish conservation.

Workshop and Symposium on Sustainable Small-scale Fisheries: Towards FAO Guidelines on Marine and Inland Small-scale Fisheries, 19-21 September, 2011, Kolkata, West Bengal, India

The workshop and symposium titled Sustainable Small-scale Fisheries: Towards FAO Guidelines on Marine and Inland Small-scale Fisheries was jointly organized by the National Fishworkers’ Forum (NFF) and the Society for Direct Initiative for Social and Health Action (DISHA), in collaboration with the International Collective in Support of Fishworkers (ICSF). The workshop was the first in a series of consultations around the world organized to discuss the Voluntary Guidelines on Small-scale Fisheries (VGSSF) and propose measures, keeping in mind the interests and concerns of small-scale fisheries and fishing communities. The workshop was also a forum to make the role of small-scale fisheries and fishworkers more visible in the context of food security, poverty alleviation and sustainable use of fishery resources. The workshop had 62 participants from both the marine and inland sectors, representing 10 States of India. The participants included fishworkers, representatives of fishworker organizations, policymakers and representatives of multilateral organizations. The workshop was structured to facilitate active interaction and discussion among participants, taking into account linguistic diversity and the contextual differences of the marine and inland sectors. This publication will be useful for fishworkers, fishworker organizations, researchers, policymakers, fish farmers, members of civil society and anyone interested in small-scale fisheries and livelihoods.

Experiments on preservation and weathering of net twines

Koura (1963) reporting the results of the comparative studies on different preservation methods of cotton twines stated that "by the difference of rotting in the different waters, not ever one method may be the most economical one". The observations were simultaneously made at Alexandria in Egypt in the sub-tropical region and Cuxhaven in the estuary of the River Elbe in the temperate zone. The course of weathering and effect of immersion in water of man-made fibres have also been mentioned in this communication. Subsequently work on similar lines were extended to Cochin in the tropical region with Cuxhaven and Hamburg as the other places of observation and the results of these studies are presented in this paper.

ICTs, globalization and local diversity

This paper is based on a panel discussion at the 2002 International Conference on Information Systems in Barcelona. Three panellists responded to a set of questions on the meaning of the term globalization to them, and the role of information and communications technologies (ICTs) in globalization processes. The panellists also highlighted the importance of local diversity in understanding globalization and ICTs, drawing from their varied research in contexts such as western country financial markets, health systems in Guatemala, and e-commerce in Mexico. A further output of the panel, and this paper, is the identification of key research questions and theories for future IS research in this important area.

A multi-locus phylogeny of Nectogalini shrews and influences of the paleoclimate on speciation and evolution

Nectogaline shrews are a major component of the small mammalian fauna of Europe and Asia, and are notable for their diverse ecology, including utilization of aquatic habitats. So far, molecular phylogenetic analyses including nectogaline species have been unable to infer a well-resolved, well-supported phylogeny, thus limiting the power of comparative evolutionary and ecological analyses of the group. Here, we employ Bayesian phylogenetic analyses of eight mitochondrial and three nuclear genes to infer the phylogenetic relationships of nectogaline shrews. We subsequently use this phylogeny to assess the genetic diversity within the genus Episoriculus, and determine whether adaptation to aquatic habitats evolved independently multiple times. Moreover, we both analyze the fossil record and employ Bayesian relaxed clock divergence dating analyses of DNA to assess the impact of historical global climate change on the biogeography of Nectogalini. We infer strong support for the polyphyly of the genus Episoriculus. We also find strong evidence that the ability to heavily utilize aquatic habitats evolved independently in both Neomys and Chimarrogale + Nectogale lineages. Our Bayesian molecular divergence analysis suggests that the early history of Nectogalini is characterized by a rapid radiation at the Miocene/Pliocene boundary, thus potentially explaining the lack of resolution at the base of the tree. Finally, we find evidence that nectogalines once inhabited northern latitudes, but the global cooling and desiccating events at the Miocene/Pliocene and Pliocene/Pleistocene boundaries and Pleistocene glaciation resulted in the migration of most Nectogalini lineages to their present day southern distribution. (C) 2010 Elsevier Inc. All rights reserved.

Fishery methods and fish diversity in the Kilombero River in south-eastern Tanzania

Assessment of common fishery methods and of fish diversity was undertaken in two fishing camps on the Kilombero River in south-eastern Tanzania in surveys towards the end of the dry season, 1994. Fishermen identified 23 different types of fish that they caught on a regular basis. Only 19 species of fish, belonging to 17 genera and 11 families were, however, identified according to Linnean taxonomy. Hooks, nets, traps and spears were used to catch fish. Fish were either sold fresh. or preserved for storage and long-distance tranport by smoking or frying. based un frequency distributions of the numbers of fish landed over a 4 day period at one of the camps, a Shannon-diversity index of 1.95 was calculted. The fork (or total) length of 480 fish and the weight of 413 fish were measured and length frequency distributions as well as length-weight relationships determined for the six most common species. It is concluded that local fishing methods applied in the Kilombero River allow for sustainable fish production.

Floral surveys on Gomphonemaceae and Cymbellaceae (Bacillariophyta) from the headwaters of the Yangtze River, Qinghai, China

Gomphonemaceae and Cymbellaceae from the headwaters of the Yangtze River, Qinghai Province, China, comprised 84 taxa belonging to four genera. The dominant species were Gomphonema kaznakowi Mer., G. hedini Hust., G. olivaceum (Lyngbye) Kutz., Cymbella cistula (Ehr.) Kirchn. var. cistula and C. minuta Hilse ex Rabh. var. minuta. Some arctic and alpine forms also occurred, and the following taxa were unique to this region: C. cistula var. asiatica Mer., C. cistula var. capitata Grun., C. yabe Skvortzow var. punctata Li and Shi, G. olivaceum (Lyngbye) Kutzing var. brevistriatum Li and Shi and G. staurophorum (Pant.) Cleve-Euler var. oblongum Li and Shi. Different morphological forms of G. kaznakowi Mer. may be related to the upheaval of the plateau. Species diversity of the diatoms appears to be related not only to macro-environment (e.g., geographic zonation) but also to microhabitat and microclimate.