The accuracy of numerical weather forecasts is crucial in many engineering applications, especially for the management of renewable energy. In this paper, we give a short overview of methods used to improve local weather forecast. Then we propose a new state space model in order to correct bias and phase errors in numerical wind forecasts. We present some results for real life data.

This paper examines the relation between earnings management and corporate governance in China by introducing a tunneling perspective. We document systematic differences in earnings management across the universe of China's listed companies during 1999–2005, and empirically demonstrate that firms with higher corporate governance levels have lower levels of earnings management. We study two Chin...

This paper examines whether investors recognize the implications of changes in order backlog, a non-GAAP leading indicator, for future performance. A hedge portfolio strategy taking a long position in the highest decile of order backlog change and a short position in the lowest decile of order backlog change earns 13.7 percent in the year after the hedge portfolio is formed. Moreover, analysts’...

This study examines the impact of the implementation of the Code of Corporate Governance for Listed Companies in China (the Code) in 2002 on constraining earnings management in Chinese listed firms. We find the magnitudes of both discretionary accruals and related-party transactions in Chinese listed firms decrease significantly after the promulgation of the 2002 Code, and moreover, the Code is...

This paper identifies and analyzes previously published studies on annual earnings forecasts. Comparisons of forecasts produced by management, analysts, and extrapolative techniques indicated that: (1) management forecasts were superior to professional analyst forecasts (the mean absolute percentage errors were 15.9 and 17.7, respectively, based on five studies using data from 1967-1974) and (2...

Background: According to the sustainable development theory, managers have a high incentive to observe ethical principles in business operations. However, some of the immoral behaviors of managers in earnings manipulation lead to ethical failures in companies. Accordingly, the purpose of this study was to analyze the relationship between sustainable development performance and managers’ immoral...

2 Abstract The breeding method has been implemented in the NASA Global Modeling and Assimilation Office (GMAO) coupled general circulation model (CGCM) in its operational configuration where ocean data assimilation is used to initialize the coupled forecasts. Bred vectors (BVs), designed to capture the dominant growing errors in the atmosphere-ocean coupled system, are applied as initial ensemb...

Arctic sea ice drift forecasts of 6 h-9 days for the summer of 2014 are generated using the Marginal Ice Zone Modeling and Assimilation System (MIZMAS); the model is driven by 6 h atmospheric forecasts from the Climate Forecast System (CFSv2). Forecast ice drift speed is compared to drifting buoys and other observational platforms. Forecast positions are compared with actual positions 24 h-8 da...

This paper theoretically and empirically investigates the role of CEO career concerns on accruals based and real activities earnings management. We develop a model of earnings management, rooted in career concerns, that alternatively incorporates the features of the accrual accounting performance measurement system and the negative value-destroying effects of real activities earnings management...

Purpose The purpose of this study is to examine whether and how analysts’ foreign ancestral origins would have an effect on earning forecasts in particular ultimately firms’ information environment general. Design/methodology/approach By inferring countries based their surnames, empirically examines affect earnings forecast errors. Findings Using novel data from more than 110 countries, finds t...