Management sometimes exploits the quest of shareholders for higher return on equity capital, by taking advantage of accounting rules gaps or violating them. The Beneish earnings detection manipulation model, is an attempt to reveal such illegal or at least unethical practices. Evidence regarding the use of “creative” accounting practices, based on that model, during the massive equity fund rais...

since insuring agricultural products is one of the effective instruments for risk management in agricultural sector, it can reduce risk avoidance among farmers and increase their competence in using production factors and, consequently, increases their inclination towards investment in agricultural sectors. the purpose of the current study was to investigate the factors influencing policyholder...

mutual funds are the best tool to mobilize savings and investments in an economy and pakistan is the pioneer in south asia, but this industry is not as much mature in comparison to its age in pakistan. this paper examines the performance of closed ended mutual funds in pakistan by using five different ranking measures during a period of january 2009 to december 2013 and the sample consists of o...

Various aspects of the role of uncertainty in greenhouse gas emission reduction policy are analyzed with the integrated assessment model FUND. FUND couples simple models of economy, climate, climate impacts, and emission abatement. Probability distribution functions are assumed for all major parameters in the model. Monte Carlo analyses are used to study the e!ects of parametric uncertainties. ...

This paper examines hedge fund portfolio selection approaches in isolation and the context of an investor’s overall portfolio. Characteristics-based portfolios that minimize risk delivers superior out-of-sample performance. For instance, a minimum variance tilting toward small funds with high alpha strategy distinctiveness index low systematic annualized Sharpe ratio 2.03 maximum drawdown 5.20%...

The paper is concerned with the boundary controllability of entropy weak solutions to hyperbolic systems of conservation laws. We prove a general result on the asymptotic stabilization of a system near a constant state. On the other hand, we give an example showing that exact controllability in finite time cannot be achieved, in general.

By using concrete scenarios, we present and discuss a new concept of probabilistic Self-Stabilization in Distributed Systems.

Dijkstra’s concept of self-stabilization assumes that faults can only affect the variables of a program. We study the notion of self-stabilization if faults can also affect (i.e., augment) the program code of a system. A code stabilizing system automatically recovers from (almost) arbitrary perturbations of its program code. We prove some lower bounds for code stabilizing systems and argue that...