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Integrated reporting (IR) by firms is intended to improve not only the quality of information available to external parties, but also internal managerial decision making. IR is considered useful to address the short-term orientation of firms caused by pressure from short-term oriented shareholders. This study examines whether the introduction of IR discourages real activities manipulation, a form of myopic behavior. Using a large sample of Japanese listed companies, the study empirically tests the effect of IR on real activities manipulation through panel data regression analysis. We find that the introduction of IR is related to higher level of abnormal cash flows from operations, lower level of abnormal production costs, and lower level of total activities manipulation. These results generally suggest that firms tend not to engage in real activities manipulation after IR is introduced. Our results also show that while there is insignificant difference in the degree of real activities manipulation between IR and non-IR firms immediately after the introduction of IR, the degree of real activities manipulation is generally smaller in IR firms than in non-IR firms after more time has passed since the introduction of IR, consistent with the view of practitioners that IR is a continuous improvement process of internal decision making. Regarding the non-financial aspects, additional analysis shows that introducing IR is positively associated with the performance of environmental, social and governance (ESG). Our findings suggest that IR could discourage companies’ short-term oriented behavior and promote long-term value creation, which is of interest to a wide range of stakeholders. Thus, our findings provide insightful evidence for researchers, practitioners, and policy makers interested in the role of IR in stakeholder-oriented corporate governance mechanisms.

Counting the world's poor: problems and possible solutions; by Angus Deaton. Comments on \"counting the world's poor\"; by Martin Ravallion, and T. N. Srinivasan. Ecology, history, and development : a perspective from rural Southeast Asia; by Yujiro Hayami. Productivity growth and sustainability in post-green revolution agriculture: the case of the Indian and Pakistan Punjab; by Rinku Murgai, Mubarik Ali, and Derek Byerlee. The politics of Russian enterprise reform: insiders, local governments, and the obstacles to restructuring; by Raj M. Desai and Itzhak Goldberg.

Background & Aims Sustained virological response (SVR) by direct‐acting antivirals (DAAs) may reverse the hypercoagulable state of HCV cirrhosis and the portal vein thrombosis (PVT) risk. We evaluated the incidence and predictive factors of de novo, non‐tumoral PVT in patients with cirrhosis after HCV eradication. Methods Patients with HCV‐related cirrhosis, consecutively enrolled in the multi‐center ongoing PITER cohort, who achieved the SVR using DAAs, were prospectively evaluated. Kaplan‐Meier and competing risk regression analyses were performed. Results During a median time of 38.3 months (IQR: 25.1–48.7 months) after the end of treatment (EOT), among 1609 SVR patients, 32 (2.0%) developed de novo PVT. A platelet count ≤120,000/μL, albumin levels ≤3.5 mg/dL, bilirubin >1.1 mg/dL, a previous liver decompensation, ALBI, Baveno, FIB‐4, and RESIST scores were significantly different (p < 0.001), among patients who developed PVT versus those who did not. Considering death and liver transplantation as competing risk events, esophageal varices (subHR: 10.40; CI 95% 4.33–24.99) and pre‐treatment ALBI grade ≥2 (subHR: 4.32; CI 95% 1.36–13.74) were independent predictors of PVT. After HCV eradication, a significant variation in PLT count, albumin, and bilirubin (p < 0.001) versus pre‐treatment values was observed in patients who did not develop PVT, whereas no significant differences were observed in those who developed PVT (p > 0.05). After the EOT, esophageal varices and ALBI grade ≥2, remained associated with de novo PVT (subHR: 9.32; CI 95% 3.16–27.53 and subHR: 5.50; CI 95% 1.67–18.13, respectively). Conclusions In patients with HCV‐related cirrhosis, a more advanced liver disease and significant portal hypertension are independently associated with the de novo PVT risk after SVR.

The velocity-dependent optical potential used in this work leads to a local energy-dependent potential that consists of real surface terms that are proportional to the derivatives of the nuclear matter density. Such term—in other works—has been accounted for nonlocality due to the surface deformation in the light nuclei. In the present work, we have examined the ability of the velocity-dependent potential, which contains real surface-peaked terms, to account for nonlocality. This is achieved by inspecting the case of fitting the angular distribution data for the neutron that elastically scattered from a light nucleus, carbon isotopes ( 10 C, 12 C, and 14 C) in the energy range of 12–20 MeV, by using two potential models: the modified velocity optical potential (which conations real surface-term) and the conventional optical potential. A comparison between the two models has been made. Furthermore, the total elastic cross sections and the analyzing power are calculated using both models and compared to the experimental data. The volume integrals per nucleon of the real central potential and the imaginary surface potential in the modified velocity optical potential have also been determined and the results are in good agreement with the corresponding values calculated using other models. It is shown that a significant improvement in angular distributions was observed when the velocity-dependent potential was applied, specifically in the large angle scattering region and in certain energy ranges.

We present a framework, called meta scheduler, for implementing real-time scheduling algorithms. The meta scheduler is a portable middleware layer component designed for implementations over POSIX-compliant operating systems. It accommodates pluggable real-time scheduling algorithms while offering the flexibility of platform independence - the singular underlying OS requirement is the now nearly ubiquitous POSIX compliance. The versatility of pluggable schedulers positions the meta scheduler for deployment in an interoperable heterogeneous real-time environment. We present the design of the meta scheduler and outline its implementation. Furthermore, we present a mechanized correctness verification using the UPPAAL model checker. Prototype implementation of the meta scheduler over QNX Neutrino real-time operating system demonstrates high performance and a small footprint.

Time Petri nets describe the state of a timed system through a marking and a set of clocks. If clocks take values in a dense domain, state space analysis must rely on equivalence classes. These support verification of logical sequencing and quantitative timing of events, but they are hard to be enriched with a stochastic characterization of nondeterminism necessary for performance and dependability evaluation. Casting clocks into a discrete domain overcomes the limitation, but raises a number of problems deriving from the intertwined effects of concurrency and timing. We present a discrete-time variant of time Petri nets, called stochastic preemptive time Petri nets, which provides a unified solution for the above problems through the adoption of a maximal step semantics in which the logical location evolves through the concurrent firing of transition sets. We propose an analysis technique, which integrates the enumeration of a succession relation among sets of timed states with the calculus of their probability distribution. This enables a joint approach to the evaluation of performance and dependability indexes as well as to the verification of sequencing and timeliness correctness. Expressive and analysis capabilities of the model are demonstrated with reference to a real-time digital control system.

The prediction capability of recurrent-type neural networks is investigated for real-time short-term prediction (nowcasting) of ship motions in high sea state. Specifically, the performance of recurrent neural networks, long short-term memory, and gated recurrent units models are assessed and compared using a data set coming from computational fluid dynamics simulations of a self-propelled destroyer-type vessel in stern-quartering sea state 7. Time-series of incident wave, ship motions, rudder angle, as well as immersion probes, are used as variables for a nowcasting problem. The objective is to obtain about 20 s ahead prediction. Overall, the three methods provide promising and comparable results.

Purpose The authors point out that the existing research confuses the operational liabilities formed based on the “transaction” relationship with the financial liabilities formed based on the “investment” relationship, which not only exaggerates the value of leverage but also underestimates the level of protection that companies provide for creditors alone. That is, the confusion of concepts not only triggers the problem of leverage misestimate but also triggers the short-term financial risk misestimate. The performance of “nominal leverage” and “nominal short-term solvency” based on total assets calculation cannot reflect the real leverage level and the real short-term financial risk of enterprises. Design/methodology/approach To distinguish the concepts of “assets” and “capital” and rationalize the relationship between “transactions” and “investments”, authors systematically design the “real leverage” indicators and “real short-term solvency” indicators, and measure the degree of misestimate of leverage and short-term financial risk indicators by traditional research. On this basis, this paper describes and analyses the trends of leveraged misestimate and short-term financial risk misestimate of listed companies in China and analyses which companies have more serious leverage misestimate. And it helps readers to form an objective understanding of the leveraged misestimate and short-term financial risk misestimate of listed companies in China. Findings Firstly, the overall high level of leverage of listed companies in China in the traditional sense is largely because of the misestimate of indicators. And this kind of misestimate is more serious among firms that have advantages in trading, such as state-owned enterprises and firms with higher market shares. Secondly, for most firms with normal solvency, traditional research systematically overestimated the negative impact of “nominal leverage” on financial risk indicators (represented by short-term solvency). The overestimation is significant in firms with serious leverage misestimate. Thirdly, indicators’ misestimate of the traditional research makes the banks cannot make effective credit decisions according to the firm's “real leverage” and “real short-term solvency”. Originality/value Firstly, clarify the differences between the concepts of “assets” and “capital”, and clarify the level of “real leverage” of listed companies in China, which is conducive to the process of “de-leveraging”. Secondly, revise the problem of misestimate of related indicators, so that financial institutions can clearly identify the true profitability and real risk level of the entity domain, and thus improve the effectiveness of credit decisions.

Safe fluorescent gene-transfection vectors are in great demand for basic biological applications and for gene-therapy research. Here, we introduce a new type of luminescent silicon nanoparticle （SiNP）-based gene carrier suitable for determining the intracellular fate of the gene vehicle in a long-term and real-time manner. The presented SiNP-based nanocarriers simultaneously feature strong and stable fluorescence, high DNA-loading capacity and gene-transfection efficienc35 as well as favorable biocompafibility. Taking advantage of these unique benefits, we were able to readily observe the behavior of the gene carriers in live cells （e.g. cellular uptake, intracellular trafficking, and endosomal escape） in a long-term and real- time manner. The results demonstrate the potential usability of these fluorescent SiNP-based gene vectors as powerful tools in the field of gene therapy, and provide invaluable information for understanding the intracellular behavior of gene carriers.

Real-time group communication is an indispensable part of many interactive multimedia applications over the internet. In scenarios that involve large group sizes, sporadic sources, high user churns, and random network failures, gossip-based protocols can potentially provide advantages over structure-based group communication algorithms in ease of deployment, scalability, and resiliency against churns and failures. In this paper, we propose a novel protocol called Redundancy Reduced Gossip for real-time N-to-N group communication. We show that our proposed protocol can achieve a considerably lower traffic load than conventional push-based gossip protocols and conventional push-pull gossip protocols for the same probability of successful delivery, with higher performance gains in networks with smaller delays. We derive a mathematical model for estimating the frame non-delivery probability and the traffic load from overhead, and demonstrate the general correctness of the model by simulation. We implement a functioning prototype conferencing system using the proposed protocol, completed with functions including NTP synchronization, dynamic group size estimation, redundancy suppression, and other features needed for proper operation. We perform experiments over the campus network and PlanetLab, and the prototype system demonstrates the ability of our protocol to maintain robust performance in real-world network environments.