Search results

Describes an elastic visco‐plastic finite element formulation that is applied to the modelling of pastes. Comparisons are made with experimental results obtained for a particular paste, plasticine. Special attention is applied to the frictional boundary conditions, for which the usual Coulombic procedure is augmented by a “cohesive” wall friction component. Viscous effects also are considered.

Fluorinated polyurethane combines some virtues of polyurethane and fluorinated polymer, such as low water absorption, attractive surface properties, good wearability and high weatherability. Fluorocarbon chains have been incorporated into polyurethanes by fluorinated diisocyanates, chain extenders, polyether glycols, polyester glycols and end-cappers. However, the fluorinated polyurethane, which is prepared with monohydric fluorocarbon alcohol, is seldom reported. The purpose of this research is to prepare and apply the novel fluorocarbon alcohols with side chain to modify polyurethane as the blocking agent.

The novel fluorocarbon alcohol with side chain 2-methoxy-3-nonene perfluorinated oxygen propanol (MNPOP) can be prepared via alcoholysis reaction of methanol and 2,3-epoxypropyl perfluorinated nonene ether (EPPNE), which was prepared with etherification of hexafluoropropene trimer (HFPT) and 2,3-glycidol. Structures of EPPNE and MNPOP are confirmed with FTIR and NMR. The polyurethane can be modified when MNPOP is used as blocking agent.

In comparison with the conventional polyurethane, the hydrophobic property of fluorinated polyurethane is improved. However, the increase of tensile strength of modified polyurethane is not obvious because MNPOP belongs to monohydric alcohol. And the function of MNPOP in the modified polyurethane is the blocking agent. The thermal stability of conventional and modified polyurethane is almost the same because MNPOP is de-blocked and fluorocarbon chains have not been incorporated into polyurethanes when the temperature is more than 150°C.

The polyurethane is modified with the novel fluorocarbon alcohols with side chain, which functions as the blocking agent. The hydrophobic property of fluorinated polyurethane is improved.

The role of firm attributes as a source of competitive advantage has been discussed previously in the tourism marketing strategy field. Benchmarking, a recognized learning model, is recommended as a tool to identify and improve the competitiveness of a firm. The present study employs the importance–performance analysis (IPA) to benchmark five nature- and culture-based attractions in Northern Norway. Altogether, 701 respondents participated in the on-site survey, i.e., during their vacation experiences. The present study reveals several interesting and useful managerial insights and implications for the tourist attraction industry in general as well as for the individual tourist attraction firm measured. Consequently, this study contributes to management by integrating theory and empirical data to investigate whether benchmarking, as a company learning tool, may lead to improved performance. Based on the study results, the present work suggests strategies and potential improvements for the respective tourist attractions.

This study aims to investigate the effect of post-treatment on anti-corrosion performance of Al coating on the surface of Ti-6Al-4V (TC4) fastener.

The Al coatings with different layer structures were prepared on TC4 by middle-frequency and direct-current combined magnetron sputtering. The cross-sectional morphology and surface roughness of coatings were characterized by scanning electron microscope and atomic force microscope. The corrosion resistance was evaluated by electrochemical method. The monolayer coating was post-treated by Alodine chemical conversion, Ar⁺ bombardment and a combination of two methods above.

The results show that the interfaces in bilayer and trilayer coatings reduce the defects. Ar⁺ bombardment reduces the corrosion current density, and Alodine chemical conversion leads to a higher pitting corrosion potential. The combined post-treatment has the highest polarization resistance.

The corrosion resistance of the Al coating is enhanced as the layer quantity increases. The combination of two post-treatments, Ar⁺ bombardment and Alodine chemical conversion, could achieve an overall improvement in corrosion resistance of Al coating.

This paper aims to study five vegetables extracts as possible additives to control bacterial growth on indoor waterborne paints. The extracts were obtained from the weeds Raphanus sativus, Rapistrum rugosum, Sinapis arvensis, Nicotiana longiflora and Dipsacus fullonum, used in traditional medicine as antimicrobial compounds.

Weeds extracts were characterized by Fourier transform infrared spectroscopy and UV–Vis spectrophotometry. Their antibacterial activity against Escherichia coli and Staphylococcus aureus was also determined. Afterward, selected extracts were incorporated in waterborne paint formulations. The paints’ antimicrobial activity was assessed against S. aureus, monitoring biofilm formation by environmental scanning electron microscopy.

As a general rule, results showed that tested paints were efficient in inhibiting biofilm formation, especially that formulated with Nicotiana longiflora.

The tested paints can be used to protect walls from microbial colonization, which shortened coatings’ useful life by discoloration and/or degradation. Concomitantly, indoor microbial colonization by aerosols could be also diminished. This is especially important in places that should have high standards of environmental hygiene, as in the food industry, health-care and sanitary centers.

The main value of this research was to study the antimicrobial activity of weeds extracts and to incorporate them in waterborne paints to diminish bacterial biofilm formation. This biofilm discolors and degrades the paint, and causes health problems. The use of natural compounds in coatings is increasing because of the convenience of using renewable sources, such as natural antimicrobials, in paint formulations.

The use of models for detecting earnings management in the academic literature, using accrual and real manipulation, is commonplace. The purpose of the current study is to compare the power of these models in a United Kingdom (UK) sample of 19,424 firm-year observations during the period 1991–2018. The authors include artificially-induced manipulation of revenues and expenses between zero and ten percent of total assets to random samples of 500 firm-year observations within the full sample. The authors use two alternative samples, one with no reversal of manipulation (sample 1) and one with reversal in the following year (sample 2).

The authors include artificially induced manipulation of revenues and expenses between zero and ten percent of total assets to random samples of 500 firm-year observations within the full sample.

The authors find that real earnings manipulation models have lower power than accrual earnings manipulation models, when manipulating discretionary expenses and revenues. Furthermore, the real earnings manipulation model to detect overproduction has high misspecification, resulting in artificially inflating the power of the model. The authors examine an alternative model to detect discretionary expense manipulation that generates higher power than the Roychowdhury (2006) model. Modified real manipulation models (Srivastava, 2019) are used as robustness and the authors find these to be more misspecified in some cases but less in others. The authors extend the analysis to a setting in which earnings management is known to occur, i.e. around benchmark-beating and find consistent evidence of accrual and some forms of real manipulation in this sample using all models examined.

This study contributes to the literature by providing evidence of misspecification of currently used models to detect real accounts manipulation.

Based on the findings, the authors recommend caution in interpreting any findings when using these models in future research.

The findings address the earnings management literature, guided by the agency theory.

The purpose of this study is to reveal the effect on earnings quality of switching to International Financial Reporting Standards (IFRS) from Turkish generally accepted accounting principles (GAAP) by comparing two sets of financial statements based on Turkish GAAP and IFRS.

This study is based on mathematical modeling. The variables (total assets, net income, total accruals, cash receivables, return on assets and size) in the models are core to the quantitative research that examines the relationship between them. In this study, the total accruals are computed based on the indirect approach, and the prediction error of the model represents discretionary accruals that reflect earnings management. The data set includes financial data prepared under IFRS and Turkish GAAP. The univariate and multivariate analyses are conducted by SPSS.

The results of this study indicate that IFRS does not cause any significant differences in total assets, but the net income under IFRS is larger compared to that under the Turkish GAAP. It is also found that while there is no significant difference in total accruals, there is a difference in discretionary accruals. In other words, Turkish firms use income-reducing discretionary accruals when adopting IFRS.

This study provides more insights into the effect of IFRS on earnings quality. It also provides evidence of the effect of accounting culture on IFRS adoption. As a code-law country in Turkey, publicly traded firms have to prepare financial statements based on both Turkish GAAP, which is rule-based and restricts management decisions with strict rules, and the principle-based IFRS which leaves more room to manipulate. To the authors’ knowledge, this is the first study that reveals the effect of accounting standards on earnings management by comparing two sets of financials of the same period prepared under different standards.

The study critically evaluates the theory of International Financial Reporting Standards (IFRS) implementation in an attempt to provide directions for future research. Using the extensive structured review of literature using the Scopus database tool, the study reviewed 79 articles, and in particular the topic-related 57 articles were analysed. Nine journals contribute to 51% of articles (29 of 57 articles). In particular, the three journals published 15 articles: Critical Perspectives on Accounting (7), Accounting, Organizations and Society (4), and Journal of Applied Accounting Research (4). In total, 83% (47 of 57) of the articles were published 2009–2018. A total of 1,168 citations were found from 45 articles since 12 articles were without citations. The highest cited authors were Ball (2006) – 410 citations, Kothari, Ramanna, and Skinner (2010) – 135 citations, and Napier (1989) – 85 citations. In particular, five theories have been used widely: institutional theory (13), accounting theory (6), agency theory (3), positive accounting theory (3), and process theory (2). Future studies’ focus could be on theory implications in IFRS adoption/implementation studies in a country or a group of countries’ experience. Future studies could also focus on various theories rather depending on a single theory (i.e. institutional theory).

Prior literature suggests that stock prices lead earnings in reflecting value-relevant information because accounting income incorporates information discretely to satisfy recognition principles while stock prices incorporate it continuously. The purpose of this paper is to derive an analytical model that relates the time lag of earnings to the incremental informativeness of future anticipated earnings in equity prices after controlling for current realized earnings.

This study models the extent to which forward-looking information about future earnings is capitalized into current stock returns. Specifically, this study derives an analytical future earnings response coefficient (FERC) model that regresses current stock returns on both current and future earnings surprises, and examines the properties of the regression coefficients on current earnings (i.e. current earnings response coefficient, CERC) and future earnings (i.e. FERC).

The analytical FERC model shows that the pricing coefficient on future earnings (FERC) is positive in the presence of stock prices leading earnings. More importantly, the pricing coefficient on future earnings (FERC) increases with the recognition lag, but the pricing coefficient on current earnings (CERC) decreases with the lag. The results suggest that recognition principles that intend to enhance the reliability of earnings inadvertently lower the timeliness of earnings and, thus, shift the investors’ demand for value-relevant information from current realized earnings to future anticipated earnings.

This study makes two major contributions. First, it fills the gap between the lack of an analytical model and the abundance of empirical findings in previous FERC studies. As the recognition lag of earnings increases, stock investors shift the pricing weight on value-relevant information from current realized earnings to future anticipated earnings. Second, it provides support for the validity of the FERC model as an empirical model that examines the lack of earnings timeliness. As the timeliness of earnings relative to stock prices declines, the FERC increases but the CERC decreases.

The purpose of this study is to empirically investigate the Greek firms' earnings management policies compared with debt, taxation and the financial crisis.

In this paper, the authors show that existed measures of real earnings management, whether corrected for performance or not, rely crucially on strong assumptions. The authors provide a novel modelling that permits panel structure so as to correct for heterogeneity across firms while permitting to determine endogenously the number of underlying firm-groups in the data generating process.

The empirical results indicate that Greek firms are likely to reduce earnings manipulation activities when they face liquidity risk. Taxation and financial crisis have a negative and positive effect on earnings management, respectively.

The effect of debt, taxation and financial crisis on earnings management has never been investigated in Greece. The empirical results offer valuable information to shareholders and investors as they can understand how some main factors, such as debt, taxation and financial crisis, influence firm's accounting practices.