Non-GAAP Earnings Disclosures on the Face of the Income Statement by UK Firms: The Effect on Market Liquidity

2018 ◽  
Vol 53 (3) ◽  
pp. 183-202 ◽  
Author(s):  
Andreas Charitou ◽  
Nikolaos Floropoulos ◽  
Irene Karamanou ◽  
George Loizides
2020 ◽  
Vol 27 ◽  
pp. 53-66
Author(s):  
Annalaura Giannelli ◽  
Salvatore Giuffrida ◽  
Maria Rosa Trovato

This contribution is part of a larger study concerning the Cost Benefit Analysis of the Madrid-Rio Park, one of the main public works in the field of urban redevelopment in Europe over the last twenty years. The scale of the intervention and its effects on the urban arrangement of the Manzanares River area encourage reflections on some issues of the wealth redistribution in the face of such a huge investment amount; in this experimentation we try to stress some fundamental categories of them. The paper focuses on the monetary quantification of secondary benefits coming from the commercial, accommodation, spor ts and catering businesses located in the large areas made free after the burial of the stretch of the motorway once flanking the river. According to the logic of the business plan, a Discounted Cash Flow Analysis was carried out by transforming all items of the income statement into annual revenue and expenditure streams; therefore, the components of the secondary benefit generated, and their composition were analysed in terms of relevance with respect to the possible earners. At the same time, these results were compared with the data on concession fees charged by the Madrid administration and some hypotheses were made regarding the fees applicable to current and future business, by applying the residual value, as a result of risk and scenario analyses, carried out on the strategic variables of the investments. Finally, the overall result – related to all businesses comprised in the area, with regard to the differentiated concession fees applicable for each class of business – was compared with the current management costs of the park, providing one of the possible measurements of the efficiency of the current concessionary policy and indicating any other further potential.


2018 ◽  
Vol 41 ◽  
Author(s):  
Samuel G. B. Johnson

AbstractZero-sum thinking and aversion to trade pervade our society, yet fly in the face of everyday experience and the consensus of economists. Boyer & Petersen's (B&P's) evolutionary model invokes coalitional psychology to explain these puzzling intuitions. I raise several empirical challenges to this explanation, proposing two alternative mechanisms – intuitive mercantilism (assigning value to money rather than goods) and errors in perspective-taking.


1997 ◽  
Vol 161 ◽  
pp. 203-218 ◽  
Author(s):  
Tobias C. Owen

AbstractThe clear evidence of water erosion on the surface of Mars suggests an early climate much more clement than the present one. Using a model for the origin of inner planet atmospheres by icy planetesimal impact, it is possible to reconstruct the original volatile inventory on Mars, starting from the thin atmosphere we observe today. Evidence for cometary impact can be found in the present abundances and isotope ratios of gases in the atmosphere and in SNC meteorites. If we invoke impact erosion to account for the present excess of129Xe, we predict an early inventory equivalent to at least 7.5 bars of CO2. This reservoir of volatiles is adequate to produce a substantial greenhouse effect, provided there is some small addition of SO2(volcanoes) or reduced gases (cometary impact). Thus it seems likely that conditions on early Mars were suitable for the origin of life – biogenic elements and liquid water were present at favorable conditions of pressure and temperature. Whether life began on Mars remains an open question, receiving hints of a positive answer from recent work on one of the Martian meteorites. The implications for habitable zones around other stars include the need to have rocky planets with sufficient mass to preserve atmospheres in the face of intensive early bombardment.


Author(s):  
G.J.C. Carpenter

In zirconium-hydrogen alloys, rapid cooling from an elevated temperature causes precipitation of the face-centred tetragonal (fct) phase, γZrH, in the form of needles, parallel to the close-packed <1120>zr directions (1). With low hydrogen concentrations, the hydride solvus is sufficiently low that zirconium atom diffusion cannot occur. For example, with 6 μg/g hydrogen, the solvus temperature is approximately 370 K (2), at which only the hydrogen diffuses readily. Shears are therefore necessary to produce the crystallographic transformation from hexagonal close-packed (hep) zirconium to fct hydride.The simplest mechanism for the transformation is the passage of Shockley partial dislocations having Burgers vectors (b) of the type 1/3<0110> on every second (0001)Zr plane. If the partial dislocations are in the form of loops with the same b, the crosssection of a hydride precipitate will be as shown in fig.1. A consequence of this type of transformation is that a cumulative shear, S, is produced that leads to a strain field in the surrounding zirconium matrix, as illustrated in fig.2a.


Author(s):  
F. Monchoux ◽  
A. Rocher ◽  
J.L. Martin

Interphase sliding is an important phenomenon of high temperature plasticity. In order to study the microstructural changes associated with it, as well as its influence on the strain rate dependence on stress and temperature, plane boundaries were obtained by welding together two polycrystals of Cu-Zn alloys having the face centered cubic and body centered cubic structures respectively following the procedure described in (1). These specimens were then deformed in shear along the interface on a creep machine (2) at the same temperature as that of the diffusion treatment so as to avoid any precipitation. The present paper reports observations by conventional and high voltage electron microscopy of the microstructure of both phases, in the vicinity of the phase boundary, after different creep tests corresponding to various deformation conditions.Foils were cut by spark machining out of the bulk samples, 0.2 mm thick. They were then electropolished down to 0.1 mm, after which a hole with thin edges was made in an area including the boundary


2002 ◽  
Vol 69 ◽  
pp. 117-134 ◽  
Author(s):  
Stuart M. Haslam ◽  
David Gems ◽  
Howard R. Morris ◽  
Anne Dell

There is no doubt that the immense amount of information that is being generated by the initial sequencing and secondary interrogation of various genomes will change the face of glycobiological research. However, a major area of concern is that detailed structural knowledge of the ultimate products of genes that are identified as being involved in glycoconjugate biosynthesis is still limited. This is illustrated clearly by the nematode worm Caenorhabditis elegans, which was the first multicellular organism to have its entire genome sequenced. To date, only limited structural data on the glycosylated molecules of this organism have been reported. Our laboratory is addressing this problem by performing detailed MS structural characterization of the N-linked glycans of C. elegans; high-mannose structures dominate, with only minor amounts of complex-type structures. Novel, highly fucosylated truncated structures are also present which are difucosylated on the proximal N-acetylglucosamine of the chitobiose core as well as containing unusual Fucα1–2Gal1–2Man as peripheral structures. The implications of these results in terms of the identification of ligands for genomically predicted lectins and potential glycosyltransferases are discussed in this chapter. Current knowledge on the glycomes of other model organisms such as Dictyostelium discoideum, Saccharomyces cerevisiae and Drosophila melanogaster is also discussed briefly.


2014 ◽  
Vol 23 (3) ◽  
pp. 132-139 ◽  
Author(s):  
Lauren Zubow ◽  
Richard Hurtig

Children with Rett Syndrome (RS) are reported to use multiple modalities to communicate although their intentionality is often questioned (Bartolotta, Zipp, Simpkins, & Glazewski, 2011; Hetzroni & Rubin, 2006; Sigafoos et al., 2000; Sigafoos, Woodyatt, Tuckeer, Roberts-Pennell, & Pittendreigh, 2000). This paper will present results of a study analyzing the unconventional vocalizations of a child with RS. The primary research question addresses the ability of familiar and unfamiliar listeners to interpret unconventional vocalizations as “yes” or “no” responses. This paper will also address the acoustic analysis and perceptual judgments of these vocalizations. Pre-recorded isolated vocalizations of “yes” and “no” were presented to 5 listeners (mother, father, 1 unfamiliar, and 2 familiar clinicians) and the listeners were asked to rate the vocalizations as either “yes” or “no.” The ratings were compared to the original identification made by the child's mother during the face-to-face interaction from which the samples were drawn. Findings of this study suggest, in this case, the child's vocalizations were intentional and could be interpreted by familiar and unfamiliar listeners as either “yes” or “no” without contextual or visual cues. The results suggest that communication partners should be trained to attend to eye-gaze and vocalizations to ensure the child's intended choice is accurately understood.


1971 ◽  
Vol 104 (3) ◽  
pp. 330-330
Author(s):  
R. Lester
Keyword(s):  

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