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Article
Publication date: 1 August 2020

Anthony Chen and Hung-Yuan (Richard) Lu

In this study, the authors extend upon Brockman et al. (2008), who provide evidence that managers opportunistically accelerate bad news prior to share repurchases, but…

Abstract

Purpose

In this study, the authors extend upon Brockman et al. (2008), who provide evidence that managers opportunistically accelerate bad news prior to share repurchases, but provide limited evidence that managers withhold good news until after repurchases. The authors examine management forecasts surrounding share repurchases in periods when companies must disclose detailed repurchase information. The authors argue these disclosures increase managers' legal and reputation risks of accelerating bad news, but have a lesser effect on delaying good news.

Design/methodology/approach

First, the authors examine whether managers alter the information released to the market before buying back shares by comparing managerial forecasts made within 30 days before the beginning of a repurchasing period with those made outside of this window. Second, the authors examine whether managers are more likely to provide good news forecasts, in terms of both magnitude and frequency, after buying back shares. Lastly, the authors examine the impact of CEO stock ownership on managerial forecasting behavior surrounding share buybacks.

Findings

Consistent with the authors’ hypotheses and contrary to Brockman et al. (2008), the authors find limited evidence that the likelihood or magnitude of bad news forecasts is greater in the period before share buybacks. Instead, the authors document that the frequency and magnitude of good news forecasts increase in periods following share buybacks and that these associations are positively moderated by managerial equity incentives. The authors also find that the withholding of good news is associated with lower average repurchase prices and greater repurchase volume. The authors further show that, when litigation risk is greater, managers are less likely to accelerate bad news prior to repurchases and more likely to withhold good news until after. Overall, the study results are consistent with managers balancing the benefits of opportunistic repurchase behavior with the costs.

Originality/value

This study contributes to the management forecast and share repurchase literatures by providing evidence consistent with managers opportunistically releasing earnings forecasts in the period after buying back shares. Most importantly, the authors show that after the rule revision, managers refrain from actively disclosing bad news that carry higher legal costs. Instead, they opt for the omission of good news to repurchase stocks at lower prices. The study results reconcile the conflicting evidence of Brockman et al. (2008) and Ge and Lennox (2011).

Details

Asian Review of Accounting, vol. 28 no. 4
Type: Research Article
ISSN: 1321-7348

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Book part
Publication date: 8 May 2003

Anthony Chen, Zhaowang Ji and Will Recker

Travel time variability has generally been recognized as one of the most important attributes in travelers' route choice decisions. In fact, many empirical studies have…

Abstract

Travel time variability has generally been recognized as one of the most important attributes in travelers' route choice decisions. In fact, many empirical studies have indicated that both passengers and freight carriers are strongly averse to travel time variability, because it introduces uncertainty to their route choice decisions. In this chapter, we examine the effect of incorporating travel time variability and risk-taking behavior into the route choice models and its impact on the estimation of travel time reliability under demand and supply variations.

Details

The Network Reliability of Transport
Type: Book
ISBN: 978-0-08-044109-2

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Article
Publication date: 1 August 2005

Jan Copeland

Despite being the most common illicit drug in the Western world, treatment for cannabis use is not readily available. Primary health care and even specialist drug…

Abstract

Despite being the most common illicit drug in the Western world, treatment for cannabis use is not readily available. Primary health care and even specialist drug treatment services have often under‐recognised, and undertreated, cannabis‐related problems. Australian researcher Jan Copeland is one of the few people to test cannabis treatment models. Here she outlines the most effective models for treating cannabis and how they can be applied to other services.

Details

Drugs and Alcohol Today, vol. 5 no. 2
Type: Research Article
ISSN: 1745-9265

Content available
Book part
Publication date: 8 May 2003

Abstract

Details

The Network Reliability of Transport
Type: Book
ISBN: 978-0-08-044109-2

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Book part
Publication date: 14 December 2017

Johnnie Lotesta

This paper develops a new theory arguing that party change results from ruptures in political parties’ ties to civil society organizations. I demonstrate the utility of…

Abstract

This paper develops a new theory arguing that party change results from ruptures in political parties’ ties to civil society organizations. I demonstrate the utility of this approach by using it to explain why the Rhode Island Democratic Party (RIDP) changed from a hierarchical machine to a porous political field occupied by multiple interlegislator cliques and brokered by extra-party political organizations and professionals. While others attribute party change to bureaucratization, electoral demand, or system-level changes, I analyze historical, observational, and interview data to find that a severance in the RIDP’s relationship with organized labor prompted party change by causing power to diffuse outward as leadership lost control over nominations and the careers of elected office holders. In the spaces that remained, interest groups and political professionals came to occupy central positions within the party field, serving as brokers of the information and relationships necessary to coordinate legislative activity. This analysis refines existing theories of party change and provides a historically-grounded explanation for the institutionalization of interest groups and political professionals in American party politics.

Details

On the Cross Road of Polity, Political Elites and Mobilization
Type: Book
ISBN: 978-1-78635-480-8

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Book part
Publication date: 12 December 2007

Matthew E. Archibald

Despite continuing socioeconomic and racial/ethnic gaps in many health care services, the National Healthcare Disparities Report (2004) documents parity in substance abuse…

Abstract

Despite continuing socioeconomic and racial/ethnic gaps in many health care services, the National Healthcare Disparities Report (2004) documents parity in substance abuse treatment provision among individuals of varying socioeconomic and racial/ethnic backgrounds. This study investigates that achievement by analyzing the relationship between community socioeconomic and racial/ethnic disadvantage and organizational provision of substance abuse treatment, treatment need and utilization across United States counties, 2000, 2002 and 2003. Results confirm equity in service provision in poorer communities and those with higher concentrations of African Americans. Significant disparities remain, however, in communities with higher concentrations of Hispanics, youth and female-headed households. Limitations and implications for future studies of health care provision are discussed.

Details

Inequalities and Disparities in Health Care and Health: Concerns of Patients, Providers and Insurers
Type: Book
ISBN: 978-0-7623-1474-4

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Article
Publication date: 23 March 2012

Priscila Giácomo Fassini, Ederlan de Souza Ferreira, Maraiza Aparecida da Silva, Valdir Augusto Neves and Aureluce Demonte

The purpose of this paper is to determine the effects of isolated soy glycinin (11S) on lipid metabolism in animals subjected to a hypercholesterolemic diet.

Abstract

Purpose

The purpose of this paper is to determine the effects of isolated soy glycinin (11S) on lipid metabolism in animals subjected to a hypercholesterolemic diet.

Design/methodology/approach

Male Wistar rats were kept in individual cages under appropriate conditions. The animals were divided into three groups (n=9): normal diet (STD) given a diet containing casein as protein source, recommended in AIN‐93M; hypercholesterolemic (HC) fed a normal diet with 1 per cent cholesterol and 0.5 per cent cholic acid; and hypercholesterolemic+glycinin (HC+11S), fed a hypercholesterolemic diet, plus 11S soy protein (300 mg/kg/day), dissolved in saline and administered by gavage. After 28 days, the animals were sacrificed and blood and liver removed for biochemical analysis of total cholesterol (TC), HDL‐cholesterol (HDL‐C) and triglycerides (TG) in the plasma, hepatic TC and TG.

Findings

A single daily dose of glycinin given to the hypercholesterolemic group demonstrated its functional role, particularly in raising HDL‐C and reducing triglycerides in the liver.

Originality/value

This study demonstrates the action of the 11S globulin in soybean as a serum lipid lowering agent, in addition to its nutritional properties, especially in raising the HDL‐C.

Details

Nutrition & Food Science, vol. 42 no. 2
Type: Research Article
ISSN: 0034-6659

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Article
Publication date: 18 January 2013

Glenn Norio Masuchika

The purpose of this paper is to investigate if collection developers in American academic libraries have added predominantly “yellowface” movies to their collections, or…

Abstract

Purpose

The purpose of this paper is to investigate if collection developers in American academic libraries have added predominantly “yellowface” movies to their collections, or have actively sought out movies created and acted by Asian and Asian Americans, to balance out their libraries' collections.

Design/methodology/approach

In total, ten acknowledged “yellowface” movies and ten critically acclaimed Asian and Asian American movies were chosen. The collections of 157 academic libraries throughout the entire USA were then surveyed, including geographical areas that have had very few Asians or Asian Americans in their populations throughout their histories.

Findings

The results show that neither “yellowface” movies nor Asian and Asian American movies are overtly dominant in the collections of American academic librarians, and one can conclude that the collection developers actively sought to find a balance between movies in both categories, no matter the geographical locations of their libraries.

Social implications

No matter how unsavory is our racist past, representations of past bigotry and discrimination should be available for scholars of history, cultural studies, and sociology. However, interpretations of Asians defined with this jaundiced eye must be balanced with movies of Asians and Asian Americans defining themselves.

Originality/value

The area of Asian and Asian American movies is rather small and arcane, yet the results of this survey show that there are no academic areas too small or narrow that do not demand the attention of a knowledgeable collection developer.

Content available
Article
Publication date: 21 July 2020

Prajowal Manandhar, Prashanth Reddy Marpu and Zeyar Aung

We make use of the Volunteered Geographic Information (VGI) data to extract the total extent of the roads using remote sensing images. VGI data is often provided only as…

Abstract

We make use of the Volunteered Geographic Information (VGI) data to extract the total extent of the roads using remote sensing images. VGI data is often provided only as vector data represented by lines and not as full extent. Also, high geolocation accuracy is not guaranteed and it is common to observe misalignment with the target road segments by several pixels on the images. In this work, we use the prior information provided by the VGI and extract the full road extent even if there is significant mis-registration between the VGI and the image. The method consists of image segmentation and traversal of multiple agents along available VGI information. First, we perform image segmentation, and then we traverse through the fragmented road segments using autonomous agents to obtain a complete road map in a semi-automatic way once the seed-points are defined. The road center-line in the VGI guides the process and allows us to discover and extract the full extent of the road network based on the image data. The results demonstrate the validity and good performance of the proposed method for road extraction that reflects the actual road width despite the presence of disturbances such as shadows, cars and trees which shows the efficiency of the fusion of the VGI and satellite images.

Details

Applied Computing and Informatics, vol. 17 no. 1
Type: Research Article
ISSN: 2634-1964

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Article
Publication date: 2 September 2013

Dan Albertson

The purpose of this paper is to present a framework applicable to interactive video retrieval. The objective of the framework is so that it can be applied conceptually for…

Abstract

Purpose

The purpose of this paper is to present a framework applicable to interactive video retrieval. The objective of the framework is so that it can be applied conceptually for understanding users and use of video digital libraries, and also practically for designing retrieval components like user interfaces.

Design/methodology/approach

The framework was developed through a user-centered and analytical approach, and serves as an initial attempt at generalizing how users interact when searching and browsing digital video, throughout different situations, along with the general designs that can be supportive.

Findings

The framework is two-fold, yet, together, comprises one set of conceptual findings. The first component of the framework depicts generalized user interactions throughout varying contexts of an interactive video retrieval process, followed by a second component, an illustration of the resulting supportive interface designs or sets of features. Cautions from previous studies not to over generalize the interactive process were heeded.

Research limitations/implications

The implications for such research are based on the understanding that video retrieval will benefit from the advancement of user-centered foundations, which can guide and support design decisions for resources like digital libraries.

Originality/value

The need for this study is rather straightforward: there is currently not enough conceptual research of interactive video retrieval from a user-centered perspective, which contrasts with other areas of information retrieval research where the interaction process has been thoroughly examined for a variety of domains and contexts with implications for different retrieval tools like OPACs, search engines, and article databases.

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