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Average Basis (average + basis)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	50%

Selected Abstracts

Insider Trading and Earnings Management

JOURNAL OF BUSINESS FINANCE & ACCOUNTING, Issue 3-4 2008
Julia Sawicki
Abstract:, This paper analyzes the relationship between earnings management and insider trading, specifically investigating whether discretionary accruals are related to insider trading and valuation. We find strong evidence of insiders managing earnings downward when buying and managing earnings upward when selling. On the marginal basis, value (high book-to-market value) firms manage their earnings upward compared to growth (low book-to-market value) firms, consistent with a signaling hypothesis. However, the opposite is true on the average basis, consistent with an opportunistic hypothesis. [source]

Review of Pesticide Retention Processes Occurring in Buffer Strips Receiving Agricultural Runoff,

JOURNAL OF THE AMERICAN WATER RESOURCES ASSOCIATION, Issue 3 2010
Kapil Arora
Arora, Kapil, Steven K. Mickelson, Matthew J. Helmers, and James L. Baker, 2010. Review of Pesticide Retention Processes Occurring in Buffer Strips Receiving Agricultural Runoff. Journal of the American Water Resources Association (JAWRA) 46(3):618-647. DOI: 10.1111/j.1752-1688.2010.00438.x Abstract:, Review of the published results shows that the retention of the two pesticide carrier phases (runoff volume and sediment mass) influences pesticide mass transport through buffer strips. Data averaged across different studies showed that the buffer strips retained 45% of runoff volume (ranging between 0 and 100%) and 76% of sediment mass (ranging between 2 and 100%). Sorption (soil sorption coefficient, Koc) is one key pesticide property affecting its transport with the two carrier phases through buffer strips. Data from different studies for pesticide mass retention for weakly (Koc < 100), moderately (100 < Koc < 1,000), and strongly sorbed pesticides (Koc > 1,000) averaged (with ranges) 61 (0-100), 63 (0-100), and 76 (53-100) %, respectively. Because there are more data for runoff volume and sediment mass retention, the average retentions of both carrier phases were used to calculate that the buffer strips would retain 45% of weakly to moderately sorbed and 70% of strongly sorbed pesticides on an average basis. As pesticide mass retention presented is only an average across several studies with different experimental setups, the application of these results to actual field conditions should be carefully examined. [source]

MODELED REGIONAL CLIMATE CHANGE IN THE HYDROLOGIC REGIONS OF CALIFORNIA: A CO2 SENSITIVITY STUDY,

JOURNAL OF THE AMERICAN WATER RESOURCES ASSOCIATION, Issue 3 2004
Mark A. Snyder
ABSTRACT: Using a regional climate model (RegCM2.5), the potential impacts on the climate of California of increasing atmospheric CO2 concentrations were explored from the perspective of the state's 10 hydrologic regions. Relative to preindustrial CO2 conditions (280 ppm), doubled preindustrial CO2 conditions (560 ppm) produced increased temperatures of up to 4°C on an annual average basis and of up to 5°C on a monthly basis. Temperature increases were greatest in the central and northern regions. On a monthly basis, the temperature response was greatest in February, March, and May for nearly all regions. Snow accumulation was significantly decreased in all months and regions, with the greatest reduction occurring in the Sacramento River region. Precipitation results indicate drier winters for all regions, with a large reduction in precipitation from December to April and a smaller decrease from May to November. The result is a wet season that is slightly reduced in length. Findings suggest that the total amount of water in the state will decrease, water needs will increase, and the timing of water availability will be greatly perturbed. [source]

ESTIMATING THE VALUE OF DELIVERY OPTIONS IN FUTURES CONTRACTS

THE JOURNAL OF FINANCIAL RESEARCH, Issue 3 2005
Jana Hranaiova
Abstract We analyze the effect various delivery options embedded in commodity futures contracts have on the futures price. The two embedded options considered are the timing and location options. We show that early delivery is always optimal when only a timing option is present, but not so when joint options are present. The estimates of the combined options are much smaller than the comparable estimates for the timing option alone. The average value of the joint option is about 5% of the average basis on the first day of the maturity month. This suggests that joint options can increase deliverable supplies while potentially having only a small effect on basis behavior. [source]