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Lower Earnings (lower + earning)

Distribution by Scientific Domains

Medical Sciences	50%

Selected Abstracts

Earnings Management and Corporate Governance in Asia's Emerging Markets

CORPORATE GOVERNANCE, Issue 5 2007
Chung-Hua Shen
This paper studies the impacts of corporate governance on earnings management. We use firm-level governance data, taken from Credit Lyonnais Security Asia (CLSA), of nine Asian countries, in addition to the country-level governance data used in past studies. Our conclusion is as follows. First, firms with good corporate governance tend to conduct less earnings management. Second, there is a size effect for earnings smoothing, that is, large size firms are prone to conduct earnings smoothing, but good corporate governance can mitigate the effect on average. Third, there is a turning point for leverage effect, i.e. when the governance index is large, leverage effect exists, otherwise reverse leverage effect exists. It shows that a highly leveraged firm with poor governance is prone to be scrutinised closely and thus finds it harder to fool the market by manipulating earnings. Fourth, firms with higher growth (lower earnings yield) are prone to engage in earnings smoothing and earnings aggressiveness, but good corporate governance can mitigate the effect. Finally, firms in stronger anti-director rights countries tend to exhibit stronger earnings smoothing. This counter-intuitive result is different from Leuz et al. (2003). [source]

Racing performance following the laryngeal tie-forward procedure: A case-controlled study

EQUINE VETERINARY JOURNAL, Issue 5 2008
J. Cheetham
Summary Reasons for performing study: The laryngeal tie-forward procedure (LTFP) is becoming widely used for correction of dorsal displacement of the soft palate (DDSP) despite the absence of an evidence-based assessment of its efficacy. Hypotheses: The LTFP returns racing performance to preoperative baseline levels and to that of matched controls; and post operative laryngohyoid position is associated with post operative performance. Design and population: Case-controlled study of racehorses undergoing a LTFP for dorsal displacement of the soft palate at Cornell University between October 2002 and June 2007. Methods: The presence of at least one post operative start and race earnings ($) were used as outcome variables. Controls were matched by age, breed and sex from the third race prior to surgery. A novel radiographic reference system was used to determine laryngohyoid position pre- and post operatively. Data for definitively and presumptively diagnosed cases were analysed separately. Results: During the study interval, 263 racehorses presented, of which 106 were included in the study; 36 had a definitive diagnosis of DDSP and 70 a presumptive diagnosis. Treated horses were equally likely to race post operatively as controls in the equivalent race. Treated horses had significantly lower earnings in the race before surgery than matched controls. The procedure moved the basihyoid bone dorsally and caudally and the larynx dorsally and rostrally. A more dorsal post operative basihyoid position and more dorsal and less rostral laryngeal position were associated with an increased probability of racing post operatively. Conclusions: Horses undergoing a LTFP are as likely to race post operatively as matched controls. The procedure restores race earnings to preoperative baseline levels and to those of matched controls. Potential relevance: This study provides strong evidence supporting the use of the LTFP in racehorses. Further work is needed to determine the relationship between laryngohyoid conformation and nasopharyngeal stability in horses. [source]

Medical demography and intergenerational inequalities in general practitioners' earnings

HEALTH ECONOMICS, Issue 9 2008
B. Dormont
Abstract This article examines the link between restrictions on the number of physicians and general practitioners' (GPs) earnings. Using a representative panel of 6016 French self-employed GPs over the years 1983,2004, we estimate an earnings function to identify experience, time and cohort effects. The estimated gap in earnings between ,good' and ,bad' cohorts can be as large as 25%. GPs who began their practices during the eighties have the lowest permanent earnings: they belong to the large cohorts of the baby-boom and face the consequences of an unlimited number of places in medical schools. Conversely, the decrease in the number of places in medical schools led to an increase in permanent earnings of GPs who began their practices in the mid-nineties. A stochastic dominance analysis shows that unobserved heterogeneity does not compensate for average differences in earnings between cohorts. These findings suggest that the first years of practice are decisive for a GP. If competition between physicians is too intense at the beginning of their careers, they will suffer from permanently lower earnings. To conclude, our results show that the policies aimed at reducing the number of medical students succeeded in buoying up physicians' permanent earnings. Copyright © 2008 John Wiley & Sons, Ltd. [source]

Temporary Migration Overseas and Household Labor Supply: Evidence from Urban Philippines

INTERNATIONAL MIGRATION REVIEW, Issue 3 2001
Edgard R. Rodriguez
The impact of international migration on the labor supply of workers' nonmigrant relatives has not been well documented in the literature. Using household survey data representing mostly overseas contract workers, i.e., temporary migrants, this paper shows that labor supplies of migrants and their nonmigrant relatives are inseparable. Migrants reduce the labor supply of nonmigrant relatives, which translates into lower earnings from local labor markets. Households substitute income for more leisure , a significant and previously little recognized benefit of emigration for Philippine households. This benefit varies by gender of nonmigrants and is generally higher for men. [source]