Is conditional conservatism a source of deviations of financial statements from Benford's Law?

PurposeIn this paper, the authors examine the association between conditional conservatism and deviations of the first digits of financial statement items from what are expected by Benford's Law.Design/methodology/approachThis research uses data of companies listed on the London Stock Exchange. The authors measure deviations of first digits from Benford's Law following Amiram et al. (2015) and firm-year conditional conservatism following previous studies (Basu, 1997; Khan and Watts, 2009; García Lara et al., 2016). The authors use multiple regressions to provide evidence for their hypothesis.FindingsThe results show that conditional conservatism is positively associated with deviations from Benford's Law. The findings are robust across different measures of deviations and conditional conservatism. Also, the authors find that the relationship between deviations from Benford's Law and conditional conservatism is more pronounced for firms with debt issuance, and for leveraged firms facing financial distress. Next, the authors’ analyses confirm previous evidence by showing that the first digits of financial statement items of UK listed companies conform to Benford's Law at the firm-specific level and the market level, and deviations of income statements are larger than those of balance sheets and cash flow statements.Research limitations/implicationsThe research makes significant contributions to the literature. First, this is the first study that provides empirical evidence suggesting that conditional conservatism may be a source of deviations from Benford’s Law. Second, the authors provide evidence confirming previous US findings (e.g. Amiram et al., 2015) showing that the distributions of first digits of financial statement items of UK listed companies also conform to Benford's Law.Practical implicationsThe authors’ findings have implications for auditors. Auditors should be aware of “false positive” for material misstatements when using Benford's Law as a risk assessment procedure. While both conditional conservatism and earnings management are related to deviations from Benford's Law, conservatism-related biases could indicate less audit risks.Originality/valueThe authors provide new and original evidence suggesting that conditional conservatism is related to deviations from Benford's Law.

Genome assembly, transcriptome and SNP database for chum salmon (Oncorhynchus keta)

Chum salmon (Oncorhynchus keta) is the species with the widest geographic range of the anadromous Pacific salmonids,. Chum salmon is the second largest of the Pacific salmon, behind Chinook salmon, and considered the most plentiful Pacific salmon by overall biomass. This species is of significant commercial and economic importance: on average the commercial chum salmon fishery has the second highest processed value of the Pacific salmon within British Columbia. The aim of this work was to establish genomic baseline resources for this species. Our first step to accomplish this goal was to generate a chum salmon reference genome assembly from a doubled-haploid chum salmon. Gene annotation of this genome was facilitated by an extensive RNA-seq database we were able to create from multiple tissues. Range-wide resequencing of chum salmon genomes allowed us to categorize genome-wide geographic variation, which in turn reinforced the idea that genetic differentiation was best described on a regional, rather than at a stock-specific, level. Within British Columbia, chum salmon regional groupings were described at the conservation unit (CU) level, and there may be substructure within particular CUs. Genome wide associations of phenotypic sex to SNP genetic markers identified two clear peaks, a very strong peak on Linkage Group 15, and another on Linkage Group 3. With these new resources, we were better able to characterize the sex-determining region and gain further insights into sex determination in chum salmon and the general biology of this species.

Highway Safety Manual Calibration: Estimating the Minimum Required Sample Size

Crash frequency has been identified by many experts as one of the most important safety measures, and the Highway Safety Manual (HSM) encompasses the most commonly accepted predictive models for predicting the crash frequency on specific road segments and intersections. The HSM recommends that the models be calibrated using data from a jurisdiction where the models will be applied. One of the most common start-up issues with the calibration process is how to estimate the required sample size to achieve a specific level of precision, which can be a function of the variance of the calibration factor. The published research has indicated great variance in sample size requirements, and some of the sample size requirements are so large that they may deter state departments of transportation (DOT) from conducting calibration studies. In this study, an equation is derived to estimate the sample size based on the coefficient of variation of the calibration factor and the coefficient of variation of the observed crashes. Using this equation, a framework is proposed for state and local agencies to estimate the required sample size for calibration based on their desired level of precision. Using two recent calibration studies, South Carolina and North Carolina, it is shown that the proposed framework leads to more accurate estimates of sample size compared with current HSM recommendations. Whereas the minimum sample size requirement published in the HSM is based on the summation of the observed crashes, this paper demonstrates that the summation of the observed crashes may result in calibration factors that are less likely to be equally precise and the coefficient of the variation of the observed crashes can be considered instead.

Ordinary Versus Novel Particle With the Example of Their Spontaneous Transition

The bicubic equation of particle limiting velocity formalism yields three solutions c1, c2 and c3, (primary, secondary and tertiary) limiting velocities in terms of the congruent parameter  which is defined in terms of m, v, and E, respectively being particle mass, velocity and energy. The bicubic equation discriminant D is given in terms of the congruent parameter z(m). When one has z2(m) ≤ 1 with the discriminant satisfying D ≤ 0 then we are talking about limiting velocities of ordinary particles. Good examples are the relativistic particles such as electron, neutrino,etc., with luminal limiting velocity c3 = c and calculated superluminal c2, and imaginary superluminal c1, all corresponding to the real particle energy. On the specific level, the situations like these, we discuss in the muon neutrino velocities with the OPERA detector and the electron velocities from the 2010 Grab Nebula Flare. The z(m) = 1 value separates the ordinary particles from novel particles, associated with D ⪰ 0 and z2 ⪰ 1 with new novel particle limiting velocity solutions c1, c2 and c3 which depend, in addition to z(m), also on the congruent angle α(m), nonlinearly related to z(m). These solutions are discussed on the newly defined sterile neutrino which here is modeled as an ordinary particle with z2 ⪯ 1 spontaneously transiting via z(m) = 1 into the modeled novel sterile neutrino with z2 ⪰ 1. All ordinary and novel particles limiting velocities carry real particle energies; the ordinary particle limiting velocity solutions being in quadratic forms, while the novel particle limiting velocity solutions being respectively, in quadratic complex form, linear complex form, and just congruent angle α complex quadratic form.

New species and records of the Neotropical genus Cyrnellus (Trichoptera: Polycentropodidae) and the re-establishment of C. minimus and C. marginalis

Cyrnellus is a small genus of Polycentropodidae distributed in the Nearctic and Neotropical regions, absent from the Chilean subregion. Two new species are here described: C. boliviensis sp. nov. and C. guyanensis sp. nov. Cyrnellus minimus Banks 1913 considered as a junior synonym of Cyrnellus fraternus (Banks 1905) by Flint (1971) and C. marginalis (Banks 1930) considered as a junior synonym of Cyrnellus fraternus by Flint (1964) are revalidated at the specific level. We provide a key and illustrations for adult males and nine new country records for Bolivia.

Resource-Deficient Regions: The Specificity of State Support

The success of Russia's socio-economic development heavily depends on resource avail abi li ty , resource sufficiency, and resource diversity. Because economic resources (natural, human, capital, information, and material) represent a key barrier to regional social and economic development, the regional federal systems should take into account the effects of regional development drivers. This study aims to assess the level of economic development across economic regions in Russia regarding resource availability and develop state regulation measures to improve regional economic performance. For thi s, a l l regions were divided into groups by their gross regional product estimates. Fac to rs re fl ec ti ng e c onomi c performance were identified through factor analysis, and the cyclical nature of resources av ai la bil it y w a s discussed. The paper offers a resources availability model that allows determining the minimum a moun t o f resources required for a region having a specific level of economic development to a c hi ev e t he ma x imu m economic performance possible inless time. In addition, the paper presents a state regulatory framework for a regional economy that integrates financial support measures, state projects and programs, and me a sure s to modify the regulatory framework and the regulation of human resources. The proposed sta te re g ul ati on framework takes into account the full range of regional resources and makes it possible to choose t h e mo st effective tools with the view to meeting regional development goals

French Bulldogs differ to other dogs in the UK in propensity for many common disorders: a VetCompass study

Background The French Bulldog is a highly popular dog breed but is linked with many serious health issues. A holistic view of breed health in French Bulldogs would assist efforts to appreciate the overall health strengths and weaknesses in the French Bulldog and to take appropriate steps to mitigate these. Based on random sampling of French Bulldogs and non-French Bulldogs under primary veterinary care during 2016 within the VetCompass Programme, a cohort study design was used to estimate the one-year (2016) period prevalence of the most commonly diagnosed disorders in each group. Risk factor analysis used multivariable logistic regression modelling methods. Results The analysis included 2,781 French Bulldogs and 21,850 non-French Bulldogs. French Bulldogs were younger (1.51 years, IQR 0.86 – 2.77 vs. 4.48 years, IQR 1.94 – 8.14) (p < 0.001) and lighter (12.45 kg, IQR 11.00 – 14.03 versus 13.80 kg, IQR 8.10 – 25.12) (p < 0.001) than non-French Bulldogs. Of 43 common specific-level disorders across both groups, French Bulldogs had significantly increased adjusted odds of 20/43 (46.5 %) disorders and significantly reduced adjusted odds of 11/43 (25.6 %) disorders compared to non-French Bulldogs. Highly predisposed disorders in French Bulldogs included stenotic nares (OR 42.14; 95 % CI 18.50 to 95.99; p < 0.001), Brachycephalic Obstructive Airway Syndrome (OR 30.89; 95 % CI 20.91 to 45.64; p < 0.001), aural discharge (OR 14.40; 95 % CI 9.08 to 22.86; p < 0.001), skin fold dermatitis (OR 11.18; 95 % CI 7.19 to 17.40; p < 0.001) and dystocia (OR 9.13; 95 % CI 5.17 to 16.13; p < 0.001). At a grouped-level of diagnostic precision, French Bulldogs had increased adjusted odds of 12/32 (37.5 %) disorders and reduced adjusted odds of 6/32 (18.8 %) disorders compared to non-French Bulldogs. Conclusions These results identified ultra-predispositions with worryingly higher odds in French Bulldogs for several disorders, suggesting that the health of French Bulldogs has diverged substantially from, and may be lower than, the health of the wider non-French Bulldog population. Many of these predispositions are closely associated with the conformational extremes that define the French Bulldog breed. Shifting the typical conformation of the French Bulldog population towards a more moderate phenotype is proposed as a logical opportunity to reduce the serious health issues endemic in the French Bulldog breed.

Young age and the risk of violent behaviour in people with severe mental disorders: prospective, multicentre study

Background During adolescence and young adulthood people appear to be more prone to violent behaviour. A greater tendency to violent behaviour appears to be associated with hyperactivity, impulsivity and low tolerance for frustration and provocation in social settings. Aims This prospective cohort study aimed to evaluate rates of violent behaviour among young people with mental disorders, compared with older age groups. Method A total of 340 individuals with severe mental disorders (125 living in residential facilities and 215 out-patients) were evaluated at baseline with the SCID-I and II, Brief Psychiatric Rating Scale, Specific Level of Functioning scale, Brown–Goodwin Lifetime History of Aggression scale, Buss–Durkee Hostility Inventory, Barratt Impulsiveness Scale and State–Trait Anger Expression Inventory-2. Aggressive behaviour was rated every 15 days with the Modified Overt Aggression Scale (MOAS). Results The sample comprised 28 individuals aged 18–29 years, 202 aged 30–49 and 110 aged 50 and over. Younger age was associated with a personality disorder diagnosis, substance use disorder, being single and employed. These results were confirmed even controlling for the gender effect. The patterns of the cumulative MOAS mean scores showed that younger (18–29 years old) individuals were significantly more aggressive than older (≥50) ones (P < 0.001). Conclusions This study highlights how young age in people with severe mental disorders is correlated with higher levels of impulsivity, anger and hostility, confirming previous analyses. Our results may assist clinicians in implementing early interventions to improve anger and impulsivity control to reduce the risk of future aggressive behaviours.

Emotions of Medical Personnel versus the Status and Power at Work in Hospital Wards

The hospital is characterized by one of the most formalized structures with a strict division of tasks and responsibilities. An essential element of any formal organization is the system of authorities and power. There is a hierarchy and a system of power between hospital departments and within each of them. This hierarchy structure overlaps with the level of power and status felt and perceived by each employee, which implies the emergence of specific emotions. They influence interactions, shaping their course. When describing emotions in the context of power and status, I will refer to Theodore Kemper’s concept that interactions and changes in the relative power and status (prestige) of individuals have an impact on arousing both negative and positive emotions. The aim of this article is to show how an individually-determined level of power and status can shape relations between employees, their methods of communication, and emotions in the workplace. The paper answers the question of whether and how having and/or feeling a certain status and level of power implies the emergence of certain emotions. It is important to reveal those activities and interactions which, as a result of a specific position in the hospital structure, shape and modify the emotions of medical personnel. All the considerations are based on ethnographic qualitative research conducted in three hospital departments, differing in terms of the nature of work in the department and the type of patients treated in each of them. The article describes three of the distinguished categories, i.e. “disrespect game,” ”holding emotions,” and pride. In the course of the analyses, it was found that hierarchy and a specific level of power implies the appearance of emotions of pride, satisfaction, and contentment, as well as it leads to an increase in the level of trust between members of medical personnel. Pride results from belonging to a specific profession and a specific group of employees, and it appears as the consequence of a well-conducted procedure or performance of a difficult activity that took time to master. Pride also emerges as a result of the prestige of the profession or workplace (hospital, ward).