Disclosure is the soul of supervision, the bridge between companies and investors, and can help public fully understand companies’ business operations. The disclosure quality of listed companies’ ...annual reports affects security market efficiency and investor rights protection. Currently, there are issues including but not limited to contradictory information and avoidance of important problems. Moreover, the qualities of disclosure reports from different companies vary greatly. This paper is to focus on annual reports of listed companies, dividing them into two categories based on the assessment results of disclosure by the Shenzhen Stock Exchange, and conducting the research on textual characteristics. Firstly, three characteristic indicators, tone, readability, and file size of each annual report are analyzed and compared, with validation. To explore the impact of characteristic indicators on text classification, these three indicators are introduced into text models, constructing comprehensive models. To achieve dimension reduction for training models, feature selection is performed by using Chi-square statistics. Different lengths keywords dictionaries are constructed. In conclusion, prediction performance of classifier models can be improved or maintained after introducing indicators, with the random forest model having the best improvement after introduction of indicators.
We examine the capital market response to the publication of annual reports shortlisted for corporate reporting awards. We find weaker capital market reactions to the publication of shortlisted ...annual reports compared with a matched sample of non-shortlisted annual reports, consistent with shortlisted reports containing similar or less price sensitive information relative to non-shortlisted reports. Further analysis shows that firms publishing shortlisted reports are more likely to release information to investors in a timelier manner throughout the financial year. We complement our archival empirical analysis with interview evidence from FTSE350 executives and consultants to shed light on the motives for investing in high-quality annual reports. Collectively, our results support the view that high quality annual reporting reflects superior firm-level investor communication processes and that the broader corporate reporting cycle shapes the information role of firm reporting.
We explore how the readability of annual reports varies with earnings management. Using the Fog Index to measure readability (Li, 2008), and focusing on the management discussion and analysis section ...of the annual report (MD&A), we predict and find that firms most likely to have managed earnings to beat the prior year's earnings have MD&As that are more complex. This disruption of the overall pattern of readability increasing with the level of earnings found in Li (2008) challenges the ontological explanation that good news is inherently easier to communicate, and shows that obfuscation contributes to making disclosures more complex.
This study examines the perceived usefulness of several components of the annual reports in the decision-making process of investors in making investment decisions. Corporations provided their ...financial information i.e financial result, financial conditions, and distributions to shareholders etc. to the users through corporate annual report. The main objective of the study is to measure the level importance of the several parts of annual report in providing useful information to the investors. A well-organized questionnaire was used to collect data from the respondents. Descriptive statistics, reliability tests, correlation, regression, etc., were applied to detect the result of the study. The development of the survey indicates that the annual report provides the required information to the investors for their rational investment decision, but some components of the annual report are not helpful at all to the investors. Balance Sheet, Statement of Cash Flow, Notes to the Financial Statements, Auditors Report, Five Years Financial Highlights, and Income statement were providing more valuable information regarding investment. The findings of the study will encourage preparers to provide reliable information as well as encourage users in using yearly report of corporations.
This study presents a financial distress prediction model focusing on the linguistic analysis of risk-related sections of corporate annual reports. Here, we introduce a novel methodology that ...leverages BERT-based contextualized embedding models for nuanced extraction of financial sentiment and topic coherence. This stands in contrast to existing research, which predominantly relies on dictionary-based or non-contextual word embeddings and addresses their limitations in context sensitivity. Furthermore, we apply an innovative financial distress prediction model that combines the robust XGBoost algorithm with unsupervised outlier detection techniques. This hybrid model is specifically designed to tackle the issue of class imbalance, a persistent challenge in financial distress prediction. The efficacy of the proposed model is empirically validated using a comprehensive dataset of 2545 companies listed on major global stock exchanges. Our findings indicate that the introduced model not only significantly outperforms most existing state-of-the-art financial distress prediction models in terms of predictive accuracy, but also significantly outperforms the Loughran & McDonald dictionary-based approach and the Word2Vec model, underlining its potential as a superior analytical tool for financial distress prediction.
•Linguistic analysis of risk-related sections of corporate annual reports.•BERT-based models used to identify financial sentiment and coherent topics.•A semi-supervised XGBoost approach used to predict financial distress.•XGBoost combined with unsupervised outlier detection to tackle class imbalance.•The proposed approach outperforms existing models using financial dictionaries.
2022 서울시 독성물질 중독관리센터 연간 보고서 신요한; Yo Han Shin; 이시진 ...
대한임상독성학회지,
06/2023, Letnik:
21, Številka:
1
Journal Article
Recenzirano
Odprti dostop
Purpose: The Korea University Anam Hospital Seoul Poison Control Center (SeoulPCC) was established in accordance with Seoul Metropolitan Government Ordinance No. 7524 “Seoul Metropolitan Government ...Ordinance on the Prevention of Toxic Substances Poisoning and Accident Safety.” Herein, the center’s annual performance in terms of project results and consultation information for 2022 are reported.
Methods: SeoulPCC operates a helpline (Help Call, 1855-2221) that the general public can use from 9:00 AM to 5:00 PM on weekdays, as well as chatting and chatbot counseling through KakaoTalk’s “Seoul Poison Control Center,” and one-on-one online counseling through the website. Additionally, it has constructed a system for communicating with the general public through social media. Poisoning disease information collected from SeoulPCC from January to December 2022 was analyzed according to the number of requests, age of exposure, gender, location, and reason. Requests from the general public were summarized, and a brief image presenting information on poisoning disease-related consultations was produced.
Results: SeoulPCC has a database containing information on 188,065 toxic substances collected by public institutions and provides this information to the general public and medical staff through its website. In 2022, consultations were performed through phone calls and SNS (social networking service) for 577 cases of poison information and first aid treatment due to exposure to toxic substances. There were 1,431 instances of providing poison information services. The annual requests included 512 exposure cases and 65 non-exposure cases. Furthermore, 366 cases were in Seoul, 145 cases were outside of Seoul, and 66 had an unknown location. The exposure cases included 161 requests from the general public and 351 requests from medical staff.
Conclusion: This is the first annual report in Korea to analyze the occurrence of poisoning based on consultations. It is of major significance that this report serves as a starting point for identifying and tracking the aspects and characteristics of poisoning cases in the pre-hospital stage. In the future, poisoning-related disease information provided through consultations and at the emergency room should be linked, and through real-time collection and analysis, this information should be used as basic data for poisoning disease management policies.
Purpose: This study investigated the actual incidence of acute poisoning in Korea on a nationwide scale, with the aim of laying the groundwork for future initiatives in prevention, strategic antidote ...distribution, and the development of effective emergency treatment for acute poisoning.
Methods: The study analyzed data from 3,038 patients who presented to emergency departments with poisoning-related conditions from June 1, 2022 to December 31, 2022 at 10 sites in nine cities across the country. We extracted data on general characteristics of the poisoning cases, including demographic characteristics (age and gender), place of exposure, reason for poisoning, route of exposure, and the substance involved in the poisoning incident. Age-related patterns in reasons for poisoning, medical outcomes, frequent and primary poisoning substances, and deaths were also analyzed.
Results: The population analyzed in our study was predominantly female, with women constituting 54.74% of all cases. Among infants and children, non-intentional poisoning due to general accidents was the most common cause, accounting for 71.43% of cases. Conversely, suicidal poisoning was more prevalent among teenagers and adults over 20. Fifty-two patients died during the study period, with males comprising approximately two-thirds (67.31%) of these fatalities. Pesticides were the most common poisoning substance among those who died, accounting for 55.77% of such cases. Notably, a significant majority of the victims were elderly individuals aged 60 and above.
Conclusion: This study holds substantial significance, since it represents the first comprehensive investigation and analysis of the symptoms, treatment, and causes of death due to poisoning in Korea on a national scale. By substantially expanding the range and types of poisonous substances examined, we were able to more precisely identify the characteristics and clinical patterns of poisoning cases nationwide.
Purpose: The principal of this analysis was to understand global feature of the number and type of grafts and number of diseased vessels of those undergoing coronary artery bypass grafting (CABG) and ...their short-term clinical results.Methods and Results: This report presents annual report on the collective data of CABG in the year 2018 (1 January–31 December). Data were collected based on the series of questionnaire which has been performed by The Japanese Association for Coronary Artery Surgery (JACAS), capturing the corresponding data from the Japan Adult Cardiovascular Surgery Database (JCVSD). We also analyzed descriptive clinical results of those undergoing surgeries for acute myocardial infarction and ischemic mitral regurgitation.Conclusion: This is the first article summarizing the results from annually performed questionnaires by JACAS based on JCVSD, on the trend of CABG procedures and clinical results in Japan as a scientific manuscript.
•Complex annual reports can predict unexpected negative earnings. This predictive capability is crucial for guiding the decisions of investors and regulators.•The study's findings, remaining robust ...across cases with negative deviations exceeding 50 %, consistently affirm the predictive power of report readability.•In firms with lower equity balance and non-state ownership, there is a notably stronger correlation between readability and negative earnings, highlighting increased risks.•Clear financial reporting is essential for early warnings, especially valuable in today's complex business landscape, aiding stakeholders in anticipating financial challenges.
This study examines the relationship between the readability of an annual report and negative earnings surprises. Using logit regression, we find that less clear reports can predict unexpected negative earnings. This relationship persists even after accounting for deviations greater than 50 %. Furthermore, this effect is more pronounced for firms with less balanced shareholder equity and nonstate-owned enterprises. Our findings suggest that ambiguous disclosures can serve as early warning signals for investors, with important implications for regulatory oversight.
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