The study examines the relationship between Corporate Social responsibility (CSR) and revenue misclassification in Indian institutional settings. Malikov et al. model has been used to operationalise ...revenue misclassification. Using a sample of Bombay Stock Exchange listed firms spanning over 14 years (March 2009 until March 2022), I find that CSR-oriented firms prefer revenue misclassification over expense misclassification for managing core earnings, consistent with the notion that CSR firms prefer earnings management (EM) tool having a greater relative advantage in terms of reporting favourable operating performance metrics. The subsequent tests suggest that big four auditors have a constraining effect on the revenue misclassification practices of firms. The findings alert auditors about the suspected firms (high-CSR firms) that are more likely to manage earnings through revenue misclassification and suggest authorities make more mandatory disclosure requirements for recording revenue items to curb the corporate misfeasance of revenue misclassification.
PurposeThe study aims to investigate how the presence and absence of institutional equivalents (interaction of industry peers and local peers) affect the earnings management practices of ...firms.Design/methodology/approachThe study uses discretionary accruals to operationalize earnings management. A sample of 18,744 Bombay Stock Exchange (BSE) listed firm years spanning over 12 financial years (March 2010–March 2021) has been considered and analyzed through panel data regression models.FindingsThe author’s results show that the earnings management practices of a firm's institutional equivalents and the firm's own earnings management are positively associated, implying that firms closely follow their institutional equivalents. This association is found to be more pronounced among focal firms when the difference between the earnings management levels of industry peers and local peers is greater. Further, the author find that large firms aggressively imitate their industry peers and local peers, whereas profitability does not influence their imitation behavior.Practical implicationsThe author’s findings have implications for understanding peer imitation processes, particularly when firms face increasingly multifaceted institutional environments. It suggests auditors and analysts take into account the earnings management practices of local and industry peers while analyzing the client's financial statements and making forecasts, respectively.Originality/valueThe study is among the pioneering attempts to explore the domain of earnings management from the lens of institutional equivalence and provides compelling evidence that the interaction of industry peers and local peers impacts the earnings management practices of firms.
Lack of therapeutic response in nearly 30% of patients undergoing cardiac resynchronization therapy (CRT) remains a major therapeutic challenge. Given the role of echocardiography in detecting ...mechanical dyssynchrony, extensive research has been undertaken to identify the echocardiographic predictors of CRT response. After the initial setback, the interest in this field has renewed with the introduction of speckle-tracking echocardiography (STE) for quantifying myocardial deformation. Several newer and potentially useful indices of mechanical dyssynchrony have been developed. In addition, the non-invasive assessment of myocardial work has also become feasible and many of the myocardial work indices have shown considerable promise in the initial studies. The strain imaging may also help in identifying the optimum site for left ventricular lead placement. This review summarizes the current understanding regarding the role of left ventricular strain imaging in patients undergoing CRT.
Prior research documents that managers engage in revenue shifting and expense shifting to report inflated operating performance of firms. This study extends this research in a new direction by ...investigating the relationship between revenue shifting and expense shifting across the firm life cycle. The study posits and finds that firms during the low life cycle stages (particularly, introductory and growth stage) prefer expense shifting over revenue shifting, whereas firms during the high life cycle stages (particularly, mature and decline stage) prefer revenue shifting over expense shifting for managing earnings, implying that firms choose the shifting tool based on ease, need, and relative advantage of each tool. Our subsequent tests suggest that the effect of expense (revenue) shifting is more pronounced among low (high) life cycle stage firms when they are small (large) and young (old). These results are robust to control for other tools of earnings management, and alternative measures of shifting practices and firm life cycle. The findings aware auditors and analysts of the shifting practices of firms operating at high and low life cycle stages.
Full text
Available for:
NUK, OILJ, SAZU, UKNU, UL, UM, UPUK
Many patients with coronavirus disease 2019 (COVID-19) have underlying cardiovascular (CV) disease or develop acute cardiac injury during the course of the illness. Adequate understanding of the ...interplay between COVID-19 and CV disease is required for optimum management of these patients.
A literature search was done using PubMed and Google search engines to prepare a narrative review on this topic.
Respiratory illness is the dominant clinical manifestation of COVID-19; CV involvement occurs much less commonly. Acute cardiac injury, defined as significant elevation of cardiac troponins, is the most commonly reported cardiac abnormality in COVID-19. It occurs in approximately 8–12% of all patients. Direct myocardial injury due to viral involvement of cardiomyocytes and the effect of systemic inflammation appear to be the most common mechanisms responsible for cardiac injury. The information about other CV manifestations in COVID-19 is very limited at present. Nonetheless, it has been consistently shown that the presence of pre-existing CV disease and/or development of acute cardiac injury are associated with significantly worse outcome in these patients.
Most of the current reports on COVID-19 have only briefly described CV manifestations in these patients. Given the enormous burden posed by this illness and the significant adverse prognostic impact of cardiac involvement, further research is required to understand the incidence, mechanisms, clinical presentation and outcomes of various CV manifestations in COVID-19 patients.
•COVID-19 is primarily a respiratory illness but cardiovascular involvement can occur through several mechanisms.•Acute cardiac injury is the most reported cardiovascular abnormality in COVID-19, with average incidence 8-12%•Underlying CVD and/or development of acute cardiac injury are associated with significantly worse outcome in these patients.•Information about other cardiovascular manifestations is very limited at present.
Full text
Available for:
GEOZS, IJS, IMTLJ, KILJ, KISLJ, NLZOH, NUK, OILJ, PNG, SAZU, SBCE, SBJE, UILJ, UL, UM, UPCLJ, UPUK, ZAGLJ, ZRSKP
The purpose of the study is to investigate the pricing impact of positive and negative accrual-based earnings management on stock returns. The study considers the moderating role of different ...cross-sectional effects, namely market effect, size effect, value effect, and momentum effect while examining the association between earnings management and stock return. The pricing impact is examined through univariate, bivariate portfolio methodology, and Fama–MacBeth cross-sectional regression. Based on a sample of 3085 Bombay Stock Exchange-listed stocks, results exhibit that investors perceive positive and negative earnings management differently. It has been found that investors demand a higher premium for stocks with negative earnings management, whereas investors hold stocks with positive earnings management at a lower rate of return. These findings are robust after controlling for cross-sectional effects. The study is among the pioneering attempts to examine the pricing impact of accrual earnings management by taking into account the direction (positive and negative earnings management) as well as the endogeneity nature of earnings management.
In this paper, we derive (partial) convex hull for deterministic multi-constraint polyhedral conic mixed integer sets with multiple integer variables using conic mixed integer rounding (CMIR) ...cut-generation procedure of Atamtürk and Narayanan (Math Prog 122:1–20, 2008), thereby extending their result for a simple polyhedral conic mixed integer set with single constraint and one integer variable. We then introduce two-stage stochastic
p
-order conic mixed integer programs (denoted by TSS-CMIPs) in which the second stage problems have sum of
l
p
-norms in the objective function along with integer variables. First, we present sufficient conditions under which the addition of scenario-based nonlinear cuts in the extensive formulation of TSS-CMIPs is sufficient to relax the integrality restrictions on the second stage integer variables without impacting the integrality of the optimal solution of the TSS-CMIP. We utilize scenario-based CMIR cuts for TSS-CMIPs and their distributionally robust generalizations with structured CMIPs in the second stage, and prove that these cuts provide conic/linear programming equivalent or approximation for the second stage CMIPs. We also perform extensive computational experiments by solving stochastic and distributionally robust capacitated facility location problem and randomly generated structured TSS-CMIPs with polyhedral CMIPs and second-order CMIPs in the second stage, i.e.
p
=
1
and
p
=
2
, respectively. We observe that there is a significant reduction in the total time taken to solve these problems after adding the scenario-based cuts.
Full text
Available for:
CEKLJ, EMUNI, FIS, FZAB, GEOZS, GIS, IJS, IMTLJ, KILJ, KISLJ, MFDPS, NLZOH, NUK, OILJ, PNG, SAZU, SBCE, SBJE, SBMB, SBNM, UKNU, UL, UM, UPUK, VKSCE, ZAGLJ
In this paper, we find the approximate solution of a nonlinear differential equations pertaining to M‐series,
H¯‐function, and I‐function of two variables by making use of the Hermite, Legendre, and ...Jacobi polynomials. The nonlinear differential equations play a key role in distinct branches of engineering and physics and many vibration problems. The results obtained in the present study are general in nature and can be used to obtain the solution of various problems of physics and engineering.
Full text
Available for:
FZAB, GIS, IJS, KILJ, NLZOH, NUK, OILJ, SBCE, SBMB, UL, UM, UPUK
PDF
