Search results

This study aims to examine the correlation between the readability of financial statements and the likelihood of future stock price crashes in nonfinancial companies listed on the Egyptian Stock Exchange. It further explores the possible moderating effect of audit quality on this relationship.

The study uses ordinary least squares regression, generalized least squares estimation and two-stage least squares methodology to examine and validate the research hypotheses. The sample comprises 107 nonfinancial companies registered on the Egyptian Stock Exchange from 2016 to 2019.

The results reveal a significant negative association between the readability of financial statements and stock price crash risk. This suggests that companies with more complex financial statements tend to experience higher future crash risks. Additionally, the study identifies audit quality as a significant moderating factor. Higher audit quality, often indicated by engagements with Big-4 audit firms, strengthens the influence of financial statements readability on stock price crash risk. This implies that while high audit quality enhances investor confidence and market stability, it also accentuates the negative consequences of complex financial statements.

The findings of this paper have significant implications for regulators and standard-setting bodies in Egypt. They should consider refining and revising existing standards to emphasize the importance of enhancing the readability of financial reports. Additionally, auditing firms should actively engage in efforts to ensure clearer and more transparent financial reporting. These actions are vital for boosting investor confidence, strengthening Egypt’s capital market and mitigating potential risks associated with information opacity and complexity.

This study represents a pioneering endeavor within the Arab and Egyptian financial environments. To the best of the author’s knowledge, it is the first examination of the association between the readability of financial statements and stock price crash risk in these contexts. Furthermore, it explores factors such as audit quality that may influence this connection.

While bargains abound in the personal computing field, they must be evaluated considering your needs—and it is sometimes hard to distinguish between inexpensive and merely cheap alternatives. The author discusses low‐priced software alternatives, noting how to look for bargains and a few specific examples. The PC‐related media scene continues to change, as does the slice of it reviewed for “Notes on the Media.” In the second portion of this article, the author offers some typically opinionated notes on some current publications. The author concludes with the usual roundup of comparative reviews and other notes on the PC literature for January‐March 1995. It was a big quarter for printer reviews, with few desktop computer comparisons—and life's about to get more interesting for those who prefer the Macintosh operating system: the clones are coming!

Purchase conversion prediction aims to improve user experience and convert visitors into real buyers to drive sales of firms; however, the total conversion rate is low, especially for e-retailers. To date, little is known about how e-retailers can scientifically detect users' intents within a purchase conversion funnel during their ongoing sessions and strategically optimize real-time marketing tactics corresponding to dynamic intent states. This study mainly aims to detect a real-time state of the conversion funnel based on graph theory, which refers to a five-class classification problem in the overt real-time choice decisions (RTCDs)—click, tag-to-wishlist, add-to-cart, remove-from-cart and purchase—during an ongoing session.

The authors propose a novel graph-theoretic framework to detect different states of the conversion funnel by identifying a user's unobserved mindset revealed from their navigation process graph, namely clickstream graph. First, the raw clickstream data are identified into individual sessions based on a 30-min time-out heuristic approach. Then, the authors convert each session into a sequence of temporal item-level clickstream graphs and conduct a temporal graph feature engineering according to the basic, single-, dyadic- and triadic-node and global characteristics. Furthermore, the synthetic minority oversampling technique is adopted to address with the problem of classifying imbalanced data. Finally, the authors train and test the proposed approach with several popular artificial intelligence algorithms.

The graph-theoretic approach validates that users' latent intent states within the conversion funnel can be interpreted as time-varying natures of their online graph footprints. In particular, the experimental results indicate that the graph-theoretic feature-oriented models achieve a substantial improvement of over 27% in line with the macro-average and micro-average area under the precision-recall curve, as compared to the conventional ones. In addition, the top five informative graph features for RTCDs are found to be Transitivity, Edge, Node, Degree and Reciprocity. In view of interpretability, the basic, single-, dyadic- and triadic-node and global characteristics of clickstream graphs have their specific advantages.

The findings suggest that the temporal graph-theoretic approach can form an efficient and powerful AI-based real-time intent detecting decision-support system. Different levels of graph features have their specific interpretability on RTCDs from the perspectives of consumer behavior and psychology, which provides a theoretical basis for the design of computer information systems and the optimization of the ongoing session intervention or recommendation in e-commerce.

To the best of the authors' knowledge, this is the first study to apply clickstream graphs and real-time decision choices in conversion prediction and detection. Most studies have only meditated on a binary classification problem, while this study applies a graph-theoretic approach in a five-class classification problem. In addition, this study constructs temporal item-level graphs to represent the original structure of clickstream session data based on graph theory. The time-varying characteristics of the proposed approach enhance the performance of purchase conversion detection during an ongoing session.

THE newly‐constituted Adult Education Committee of the Board of Education has settled down to work, and librarians of every class will await its recommendations with much interest. It embodies representatives of many associations concerned, but its character is highly academic, and possibly unduly so in view of the practical work to be examined. Some disappointment has been expressed that no librarians have been invited to serve on the Committee, even though the best work of the librarian is mainly educational, and with adults. Progress in adult educational work in the widest sense depends on proper methods of advance, and the Board of Education should by this time know that every aspect of such work has a vital interest for librarians, many of whom were doing practical work of the kind long before the subject of adult education threatened to become a cult. Even the anæmic Eastbourne Memorandum indicates that.

Late in 2001, the Financial Services Authority (FSA) introduced a new set of arrangements for deposit protection in the UK. While the changes involve a welcome improvement on previous arrangements, much more could be done to enhance their overall cost‐effectiveness. This paper explains the flaws in previous and current arrangements and, using a relatively crude but nevertheless objective measure of the extent of their compliance with International Monetary Fund (IMF) best practice ‘rules’, compares their degree of ‘incentive‐compatibility’ (or economic efficiency ‐ ie the extent to which they minimise the problems created by adverse selection, moral hazard and principal/agency conflict) with the counterpart schemes operating elsewhere in the European Union and beyond. In this way, areas for future improvements are identified, which will ideally require accommodating changes in the guiding Deposit Guarantee Schemes Directive.

The action taken by the Council of the British Medical Association in promoting a Bill to reconstitute the Local Government Board will, it is to be hoped, receive the strong support of public authorities and of all who are in any way interested in the efficient administration of the laws which, directly or indirectly, have a bearing on the health and general well‐being of the people. In the memorandum which precedes the draft of the Bill in question it is pointed out that the present “Board” is not, and probably never was, intended to be a working body for the despatch of business, that it is believed never to have met that the work of this department of State is growing in variety and importance, and that such work can only be satisfactorily transacted with the aid of persons possessing high professional qualifications, who, instead of being, as at present, merely the servants of the “Board” tendering advice only on invitation, would be able to initiate action in any direction deemed desirable. The British Medical Association have approached the matter from a medical point of view—as might naturally have been expected—and this course of action makes a somewhat weak plank in the platform of the reformers. The fourth clause of the draft of the Bill proposes that there should be four “additional” members of the Board, and that, of such additional members, one should be a barrister or solicitor, one a qualified medical officer of health, one a member of the Institution of Civil Engineers, and one a person experienced in the administration of the Poor‐law Acts. The work of the Local Government Board, however, is not confined to dealing with medical, engineering, and Poor‐law questions, and the presence of one or more fully‐qualified scientific experts would be absolutely necessary to secure the efficient administration of the food laws and the proper and adequate consideration of matters relating to water supply and sewage disposal. The popular notion still exists that the “doctor” is a universal scientific genius, and that, as the possessor of scientific knowledge and acumen, the next best article is the proprietor of the shop in the window of which are exhibited some three or four bottles of brilliantly‐coloured liquids inscribed with mysterious symbols. The influence of these popular ideas is to be seen in the tendency often exhibited by public authorities and even occasionally by the legislature and by Government departments to expect and call upon medical men to perform duties which neither by training nor by experience they are qualified to undertake. Medical Officers of Health of standing, and medical men of intelligence and repute are the last persons to wish to arrogate to themselves the possession of universal knowledge and capacity, and it is unfair and ridiculous to thrust work upon them which can only be properly carried out by specialists. If the Local Government Board is to be reconstituted and made a thing of life—and in the public interest it is urgently necessary that this should be done—the new department should comprise experts of the first rank in all the branches of science from which the knowledge essential for efficient administration can be drawn.

An archive is a file containing several related files. Many Internet resources, such as freeware, shareware and trail software, are often packaged into archives for easy installation and taking. Additionally, thousands of users search for archives and download them from different sources everyday. In this paper, previous research on archive downloading is extended via proxy cache to support archive searching. Internet proxy cache servers are used to gather a significant number of Web pages, detect those that contain archive links, and then use the obtained data to search archives by description or filename. Two schemes, iterative and backtracking, are proposed to obtain Web pages with archive links. The experimental results indicate that the precision that both of the schemes can achieve is about the same; however, the backtracking scheme reduces the number of checked pages by a factor of 26. Finally, a real system was implemented to demonstrate the proposed approaches.

The number, size and cost of current serials, and changes in these since 1960, are examined from the point of view of a UK library. Both the number of current serials and the average UK subscription cost have increased exponentially, while the average thickness appears now to be roughly constant. An estimate of the cost of ‘information’, measured by the cost per metre of shelf space of serials relative to the Retail Price Index shows a substantial but irregular increase.

PART IV Inorganic chemistry textbooks. Seventeen textbooks of inorganic chemistry are considered in this part of the review, and the inorganic sections of the syllabuses of the three GCE Boards previously discussed are analysed.