An analysis of the timeliness and nature of profit warnings in the aftermath of the Global Financial Crisis

The global financial crisis (GFC) has severely impacted the financial position and performance of many companies internationally. Because of its severity and associated increase in uncertainty it challenges the effectiveness of existing disclosure regulation. Australia provides a unique environment in which to test the effects of the GFC on corporate disclosure because statutory rules mandate the timely disclosure of ‘price-sensitive’ information (ASX Rule 3.1) by listed entities. Exploiting this institutional setting we investigate the determinants and timeliness of profit warnings issued by the top 500 ASX-listed firms with profit declines in the 2009 fiscal year. Our findings show that firms behave differently with regard to the issuance of profit warnings: larger and more indebted firms are more likely to issue a profit warning and tend to be timelier; surprisingly, poorer performing firms tend to release the news more quickly and this might be attributed to an increasing threat of litigation. Our analysis of profit warning determinants shows interesting results with the presence of asset impairments hindering the early disclosure of profit warnings. Our findings are novel for two main reasons: first, we provide insights into the impact of global financial crisis on profit warning behaviour; second, we are the first to examine the differential impact of alternative features of profit warnings on disclosure timeliness. The findings have implications for regulators in determining compliance with continuous disclosure rules and more broadly, for market participants in interpreting profit warnings.

Bax's 'Sea Symphony'

Bax's Fourth is the only one of his symphonies that alludes explicitly to an extramusical stimulus: 'a rough sea at flood-tide on a sunny day'. This essay contextualizes Bax's frequent use of sea imagery throughout his oeuvre, noting in particular the peripherality of the composer's observation of the sea from the liminal position of the shore. It then considers how the idea of the sea in the Fourth Symphony is related to several musical features (motivic coherence, thematic expansion, formal anomalies), and how the sea is central to the underlying conflict in the work between nature and humanity.

Carnatic music analysis: Shadja, swara identification and rAga verification in AlApana using stochastic models

We analyze the AlApana of a Carnatic music piece without the prior knowledge of the singer or the rAga. AlApana is ameans to communicate to the audience, the flavor or the bhAva of the rAga through the permitted notes and its phrases. The input to our analysis is a recording of the vocal AlApana along with the accompanying instrument. The AdhAra shadja(base note) of the singer for that AlApana is estimated through a stochastic model of note frequencies. Based on the shadja, we identify the notes (swaras) used in the AlApana using a semi-continuous GMM. Using the probabilities of each note interval, we recognize swaras of the AlApana. For sampurNa rAgas, we can identify the possible rAga, based on the swaras. We have been able to achieve correct shadja identification, which is crucial to all further steps, in 88.8% of 55 AlApanas. Among them (48 AlApanas of 7 rAgas), we get 91.5% correct swara identification and 62.13% correct R (rAga) accuracy.

Analysis of audiovisual production and music scene in Extremadura through YouTube channels

A study on Extremenian music and audiovisual production has been carried out through YouTube media. The purpose of this study is to analyze all audiovisual products and also assessing what broadcasting processes are conducted by creators to publicize their musical and audiovisual works. A quantitative and qualitative study of audiovisual materials of Extremadura bands was done to find out which processes are most suitable to increase the number of viewers for videos.

The music of nature; or, An attempt to prove that what is passionate and pleasing in the art of singing, speaking, and performing upon musical instruments, is derived from the sounds of the animated world. With curious and interesting illustrations.

Mode of access: Internet.

Music and some highly musical people : containing brief chapters on I. A description of music. II. The music of nature. III. A glance at the history of music. IV. The power, beauty, and uses of music. Following which are given sketches of the lives of remarkable musicians of the colored race ; with portraits, and an appendix containing copies of music composed by colored men /

"The original edition was published in 1880."

Leaving home for the party on the roof : Brisbane music and musicians

It lies 27°S of the Equator, wrapped uneasily around a wide, muddy river. Three years ago, Brisbane was identified by Billboard Magazine as one of six “hot spots” of independent music in the world. A place to watch. Someone turned a torch on this town, had a quick look, moved on. But this town has always had music in it. Some of it made by me. So, I’m taking my connection with this town, the music and the people, and working it into a contextual historical analysis of the creative lives of Brisbane musicians, and by extension, of Brisbane’s music and Brisbane itself. Talking about what music means to us, how it figures in our lives, and considering the notion, among other factors, of ‘place’ in both our creative practice and creative output. This paper offers an analysis of a particular auto/ethnographic method. How lives are organized and intensified by sounds made and heard in particular social and geographic settings. How music can be the thread which, when pulled, unravels stories, reveals certain truths about musicians and their relationships to one another, to family, to place and to their work.

Music and symbolic dynamics: the science behind an art

Music signals comprise of atomic notes drawn from a musical scale. The creation of musical sequences often involves splicing the notes in a constrained way resulting in aesthetically appealing patterns. We develop an approach for music signal representation based on symbolic dynamics by translating the lexicographic rules over a musical scale to constraints on a Markov chain. This source representation is useful for machine based music synthesis, in a way, similar to a musician producing original music. In order to mathematically quantify user listening experience, we study the correlation between the max-entropic rate of a musical scale and the subjective aesthetic component. We present our analysis with examples from the south Indian classical music system.

LUCIANO BERIO’S NATURALE: A STORY COMBINING FOLK MUSIC AND ART MUSIC

The study of a score by a serious performer is a fundamental step in the process of arriving at a knowledgeable and deeply informed approach to performing a piece of music. In order to obtain this knowledge numerous aspects of the score must be taken into consideration. It is the intent of this dissertation to gather and analyze the information concerning Naturale, a work written by Luciano Berio in 1985 for viola, percussion and recorded voice, based on Sicilian folk songs. All the aspects surrounding Naturale’s existence are taken into consideration in this study. First, it is important to reflect on Berio’s compositional style and traits, the manner in which he relates his works one to another, what he sees in folk music and his own personal desire to intertwine art music and folk music. For Berio Naturale is not an isolated venture into the realm of mixing folk music and his own avant-garde style; it is instead one of many works resulting from his long-standing relationship with folk music. Another essential aspect in this case is the study of Sicilian folk music itself, and the sources used by Berio to find the songs by which he was inspired. The work is examined section by section with figures showing both excerpts of Naturale as well as the original songs with their translations. An analysis containing harmonic, thematic and formal aspects of the score was developed in order to arrive at a better understanding of the structure and pacing of the piece. For this research the author went to Italy to conduct an interview with Maestro Aldo Bennici, the Sicilian violist for whom Naturale was composed. This interview helped in the discovery of two more songs used by Berio that have not to this point been identified in any other document. Bennici’s outstanding testimony portrayed the expressive character of this music and the evocative imagery behind this score. I hope to bring this knowledge to other performers, that they may fully understand and appreciate the unique beauty and power of Berio’s Naturale.

The Wolf and the Whale: aesthetic relationships between electroacoustic music and poetry inspired by the Canadian landscape

La version intégrale de cette thèse est disponible uniquement pour consultation individuelle à la Bibliothèque de musique de l’Université de Montréal (www.bib.umontreal.ca/MU).

A quantitative approach to evolution of music and philosophy

The development of new statistical and computational methods is increasingly making it possible to bridge the gap between hard sciences and humanities. In this study, we propose an approach based on a quantitative evaluation of attributes of objects in fields of humanities, from which concepts such as dialectics and opposition are formally defined mathematically. As case studies, we analyzed the temporal evolution of classical music and philosophy by obtaining data for 8 features characterizing the corresponding fields for 7 well-known composers and philosophers, which were treated with multivariate statistics and pattern recognition methods. A bootstrap method was applied to avoid statistical bias caused by the small sample data set, with which hundreds of artificial composers and philosophers were generated, influenced by the 7 names originally chosen. Upon defining indices for opposition, skewness and counter-dialectics, we confirmed the intuitive analysis of historians in that classical music evolved according to a master apprentice tradition, while in philosophy changes were driven by opposition. Though these case studies were meant only to show the possibility of treating phenomena in humanities quantitatively, including a quantitative measure of concepts such as dialectics and opposition, the results are encouraging for further application of the approach presented here to many other areas, since it is entirely generic.

Orientations in Time: Music and the Construction of Historical Narrative in 20th and 21st Century African-American Literature

Thesis (Ph.D.)--University of Washington, 2016-06