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The present paper investigates the relationship between earnings management and board characteristics of independence and gender diversity in the Indian corporate sector in accordance with the sectorial classification. The main corporate ownership model in Indian firms is found to be the promoter-dominated shareholders model which further illustrates the importance of the board in restraining earnings management. In Indian companies, the main issue is to control the dominant shareholder and safeguard the minority shareholders. The study uses a panel data structure to examine the importance of sector segregation and gender diversity in the context of earnings management practices among large public companies in India. The study shows that the magnitude of earnings management highly varies with the relative nature of the sector. Furthermore, the results suggest that woman directors are more efficient at monitoring earnings management in respective firms and mere having independent directors does not ensure sound corporate governance. This ensures that sectorial classification and gender diversity are important factors in the corporate practices of earnings management. The results are of considerable importance to policymakers in evaluating the sector characteristics about earnings management, and improving corporate governance policy-making by increasing the women directors’ participation and implementing the related board variables in the relative sector. This is the first study that explores the association between gender diversity of the board and earnings management practices of large listed companies in an emerging economy like India. It also evaluates the significance of sectorial classification in this context for added significance of the study.

Purpose The present paper aims to discuss the “money laundering” aspect and related governance practices of third sector, non-government organizations (NGOs). In NGOs globally, foreign contributions are not an old story. But in NGOs, the spotlight on the vulnerability of money laundering in the name of foreign contribution(s) requires special attention. The study highlights the dimension of money laundering in an Indian NGO and related dominance of board leadership about governance issues by way of foreign contribution. Design/methodology/approach The present study uses case study method for enlightening the money laundering tussle in a non-government organization and its governance impact on the stakeholders’ interests at large. Findings The results stress upon the need for to have strong anti-money laundering practices in non-government organizations in the form of foreign contributions which are still struggling to have a sound governance system in place. Practical implications It is of significance to both policymakers and standards setters at the international level in the light of increasing global awareness about anti-money laundering practices of the third sector. Social implications There will be an improvement in the corporate management related to money-laundering of these organizations and infuse higher confidence among stakeholders and further lead to their effective regulatory framework. Originality/value It is an original paper which highlights the role and significance of money laundering practices in the third sector.

Purpose The purpose of this paper is to explore the role of independent directors’ diligence in restraining earnings management practices in the Indian context. Design/methodology/approach It employs a panel data analysis to test the association of earnings management with the diligence of independent directors. Findings The results suggest that the diligence of independent directors has a significant impact on earnings management. The findings support the agency theory and provide evidence of the role played by the board processes in restricting earnings management. Originality/value This study is important for the regulators as it highlights the significance of independent directors’ diligence in producing higher quality financial statements, thereby creating the real economic value of companies. This is the first article that explores the impact of independent directors’ diligence on earnings management practices particularly in the context of an emerging economy, like India in the light of new Companies Act 2013 and revised Clause 49 of the Listing Agreement, 2014 by Securities and Exchange Board of India.

Testis tissue xenografting complemented with cryopreservation is a feasible technique for fertility preservation in children with malignancy receiving gonadotoxic therapy and for endangered species with high neonatal mortality rate. However, xenografted testis of human and most endangered species are known to undergo spermatogenic arrest. In this study, we xenografted immature rat testis onto immunodeficient male mice to investigate the plausible underlying causes of spermatogenic arrest. Histological analysis of xenografted testes collected 8-wk post-grafting showed incomplete spermatogenesis with pachytene-stage spermatocytes as the most advanced germ cells. Although the levels of serum luteinizing hormone and testosterone were normal in recipient mice, those of follicle stimulating hormone (FSH) were significantly high, and specific receptors of FSH were absent in the xenografts. The xenografts demonstrated dysregulated expression of Sertoli cell-transcriptional regulators (WT1 and SOX9) and secretory proteins (SCF and GDNF). In conclusion, results from our study suggested that an altered hormonal milieu in recipients and dysregulated protein expression in xenografts could be a potential cause of spermatogenic arrest in xenografted immature rat testis. Further stereological analysis of xenografts can demonstrate precise cellular composition of xenografts to decipher interactions between germ and somatic cells to better understand spermatogenic arrest in xenografted testis.

Infected coronary artery aneurysm (CAA) is a rare complication of percutaneous coronary intervention (PCI) and is associated with high morbidity and mortality. The management of infected CAA is unclear and is based on the clinical and imaging features. We report an interesting case of a giant infected right CAA secondary to Pseudomonas aeruginosa within four weeks of a drug eluting stent (DES) implantation. Chronological analysis of the coronary angiograms and computed tomography coronary angiography revealed rapid progression in the size of the aneurysm from small to a giant CAA over a period of four weeks. Patient remained afebrile throughout the hospital stay without any signs of septicaemia. In view of the rapid progression in size, surgical aneurysmal ligation with distal revascularisation was done with good post-operative recovery. Afebrile presentation of an infected CAA is very rarely reported in the literature as in our case. Early diagnosis using multimodality imaging and immediate surgical intervention are the cornerstone in the management of giant infected CAAs.

Autoimmune-associated vasculitis is related to conditions like granulomatosis with polyangiitis (GPA) and eosinophilic polyangiitis with granulomatosis (EGPA), among many others. An unlikely scenario is patients with the above conditions presenting with ischemic strokes before any renal or pulmonary pathology. These conditions are associated with increased antineutrophillic cytoplasmic antibodies (C-ANCA) levels in the blood, and its decline after treatment is directly proportional to the recovery of the patient. We present a case of a previously healthy 38-year-old male patient who presented with acute/subacute ischemic stroke with elevated C-ANCA levels; his MRI brain images revealed multiple posterior circulation infarcts with hemorrhagic transformation. With pulse steroid therapy, he had significant improvement in neurological functions. This case report highlights the importance of maintaining a high degree of suspicion and providing early treatment for autoimmune strokes in young patients with no clear etiology for such a presentation.

Context: An objective conformal radiotherapy treatment planning criteria that can predict severity of early effects of radiotherapy would be quite useful in reducing the side effects of radiotherapy thereby improving quality of life for head and neck cancer patients. Aim of Study: Retrospective study aimed at correlating the maximum dose in planning target volume (PTV) with early effects of radiation. Materials and Methods: Patients with squamous cell carcinoma of H and N region who received radical radiotherapy and concomitant chemotherapy were retrospectively analyzed for maximum dose in PTV and the requirement of gap during radiotherapy or else hospitalization for supportive care during or up to 1 month after completion of radical radiotherapy. Results: Of a total of 23 patients, 8 patients (34.7%) required a gap of 2–14 days during their treatment. Twelve patients (52.1%) required hospitalization for 1–4 days and 4 patients (17.3%) required hospitalization for supportive care after completion of radiotherapy. The maximum dose in PTV ranged from 105.1% to 132.8% with an average of 112.68%. Subgroup analysis revealed a nonsignificant highest maximum dose of 114.72% in subset of patients requiring gap during radiotherapy (n= 8). Conclusion: It was concluded that maximum dose in PTV is a useful predictor of need for inhospital supportive care.

Purpose The earnings management (EM) research on the impact of firm’s multi-nationality and reputation on the earnings’ quality is limited, particularly in the context of emerging economies like India. In India, the corporate ownership model is “Promoter-dominated shareholder model” wherein companies have global operations. The purpose of this paper is to analyze the EM practices of corporate enterprises in India about multi-nationality, reputation and related determinants. Design/methodology/approach The present study employs DeAngelo model for calculating discretionary accruals for detecting EM. Multi-nationality, reputation and related determinants are measured as accounting indices. The statistical tools applied for testing the accuracy of results include correlation and regression analysis, t-test and descriptive statistics, like arithmetic mean, median and standard deviation. Findings The results show that multi-nationality is the driving force for EM and significantly affects the accounting choices of management in the sample units. The firm’s reputation and other related determinants, except size, vary with accruals. The earnings behavior of the corporate is influenced by other factors, like growth and leverage as well. Research limitations/implications A total of 12 units out of top 25 units, taken for the study, met the sampling requirements. So, the present study is confined to 12 profit-making private listed companies in India. These companies constitute a significant size of BSE’s market capitalization for completeness of data; still the size and diversity of units can be extended for further study. The period in the study is of five years (2003–2004 to 2007–2008) to find the effects of global recession on EM practices in India. Researchers may like to select a different time-period based on their objective. Practical implications The study draws new dimensions about the quality of financial reporting in case of global firms and with high-perceived reputation. The findings are of significance to standard setters and regulators, particularly for emerging economies, like India where companies have international operations. They are equally important for other companies that are based in economies with relatively mature corporate governance mechanisms because of common regulatory focal points. Social implications It brings out the importance of financial reporting process of global corporations for shareholders’ value creation. It is likely to enrich the knowledge and understanding of the EM phenomenon in developing economies like India. Originality/value It is an original paper, which highlights the EM motivation about multi-nationality, reputation and related variables in Indian corporate.

Purpose This paper aims to focus on the concept of abolition of black money and the demonetization movement started in India for cleaning black money and its impact on corporate world and Indian economy. It discusses the corporate governance effect of the demonetization scheme and various policy measures taken by the government to unearth and curb the black money in the country. It also states the challenges in its process of implementation and implications for future. Design/methodology/approach It appraises and reviews the concept of demonetization and its process in India since its implementation on November 8, 2016. Findings The biggest positive effects of this move were eradication of stocked and staked up money, cleansing of the financial system and improving governance in India. But its implementation had mix outcomes with its own challenges for future improvement. Practical implications The lessons drawn from the experience are expected to pave way for the countries at large. Originality/value It is an original paper on demonetization in India, and it is hoped that the lessons learnt thereof will pave the way for the world at large.

The call blocking is the most vital factor in generalized multiprotocol label switching (GMPLS) Networks. Call blocking depends upon many factors such as traffic intensity, number of servers and number of links. Call blocking performance for GMPLS networks has been calculated in this paper by using a proposed mathematical model. The proposed model investigates the dependency of probability of call blocking upon the number of wavelengths and number of links. In the suggested model, the blocking performance of GMPLS network is improved.

Background: The aim was to determine whether oral route of maternal hydration was advantageous over intravenous route in terms of increasing AFI and improving maternal and perinatal outcome in women having borderline oligohydramnios.Methods: At Aarogya hospital, 150 women in third trimester with borderline oligohydramnios (BO) AFI 5.1-8 cm, were divided randomly into two groups, oral hydration group (OG) and intravenous hydration (IVG). Each case was studied on OPD basis. After 2 hours, 48 hours and 1 week of oral or IV hydration. AFI was reassessed by same sonographer. Pre-delivery AFI and various outcome measures were recorded for both groups.Results: There was an increase in AFI by 44.5% in OG from 0 hour till delivery as compared to 30.7% increase in IVG. MSL occurred in 8 (10.7%) women in OG compared to 17 (22.6%) in IVG. FD was found in 4 (5.3%) in OG requiring LSCS compared to 16 (21.3%) in IVG. Total of 59 (78.7%) patients in OG has spontaneous vaginal delivery as compared to 42 (56%) in IVG. Perinatal outcome was better with OG than IVG 67 (89%) had Apgar at 1 min >8 in OG than 58 (77%) in IVG. Apgar score

Subject area Accounting and Finance. Study level/applicability Postgraduate/graduate. Case overview This paper aims to analyse the fixed assets management of Larsen & Toubro Ltd (L&T), a leading Indian construction company for sufficiency and efficiency, and explore its future growth prospects in relation to its capital investments. It also investigates whether the global crisis in 2008 had any impact on the development plans of the company for future orientation as the global recession affected companies in various sectors worldwide. It specifically aims to find out whether L&T was in a better position to face the situation in the industry. Expected learning outcomes Expected learning outcomes are as follows: to learn and apply the concept of fixed assets management in a business organization; to evaluate the impact of fixed assets management on the profitability of the company; to appreciate the importance of fixed assets management efficiency in a business organization; and to illustrate the use of financial crisis on the growth prospects of a business. Supplementary materials Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes. Subject code CSS 1: Accounting and finance.

Purpose It is largely believed that stock pricing is influenced by disclosure of earnings. This motivates the corporate to exercise earnings management practices. This paper aims to analyse and detect the earnings management practices of Indian firms over earnings cycles. The earnings behaviour of the firms has been analysed at three levels of earnings cycles for the pricing effect: complete, incomplete and prospective. In India, the corporate ownership model is promoter-dominated shareholders’model (PDSHM) which highlights the relevance of the study for earnings-management motivation. This paper contributes by examining earnings management of the units at three levels of earnings cycle with regard to stock pricing. Earnings cycles have been decomposed into three components: complete, incomplete and prospective. While earnings management has been studied extensively, virtually all studies have focused on firm-specific effects. This study relates earnings management to the cycle of the earnings for stock-price effect. Design/methodology/approach The cash-flow model has been used for the computation of accruals (Collins and Hribar, 1999), and D’Angelo model (for calculating discretionary accruals) has been used for detecting earnings management in the present study, being comprehensive in nature and detailed in approach. The results of the “complete earnings cycle”are measured by net income. The results of the “incomplete earnings cycle” are measured by the ratio of gross margin over sales multiplied by inventory. It yields an approximate measure of the unrealized holding gains and losses. The “prospective earnings cycle” stems from the management decision to choose a rate of income growth. Statistical tools have been used for testing the results. These include regression analysis and descriptive statistics like arithmetic mean, median and standard deviation. Findings An examination of the units shows that firms report more discretionary accruals (DACC) at complete cycle, i.e. when financial markets are more certain about their future prospects which influence their securities’ pricing. It verified that unrealized income and growth prospects have very little role to play in determining returns. The results indicated that each of the components of the earnings cycle has a relevance factor for returns. In complete earnings cycle, DACC had the highest significance on returns than operating cash flows (OCF) and non-discretionary accruals (NDACC). Its determination content is the highest. So, the firms report more negative DACC when financial markets are less certain about their future prospects. Stock-price responses to earnings surprises are moderated when firm-level uncertainty is high, consistent with performance being attributed more to chance rather than performance. Research limitations/implications The present study could be confined to only top 12 profit-making corporate enterprises in the private sector in India, leaving all other enterprises due to data non-availability. Of 25 enterprises, there were public sector undertakings too which had to be excluded. The period in the study is of five years (from 2003-2004 to 2007-2008) to highlight earnings management motivation. This period is best suited to identify the effects of global recession on the practice of earnings management in India. Researchers may like to select a different time-period based on their perspective. Practical implications It is hoped that the study would improve the understanding of the manner in which the capital markets process the publicly available earnings and its components for global firms. The findings of this study are significant not only for organisations that function in India but also for other companies that are based in economies with relatively mature corporate governance mechanisms. So, the authors’ findings have important policy implications for the Western world, as the sample companies are multinationals and operate globally. Similar efforts in other countries would be rewarding in controlling the management of reported earnings and enhance the reliability and transparency of reported earnings to promote economic efficiency. Social implications Evidence on this issue could bring a new dimension to how the capital markets interpret these reported earnings and its components (cash flows, DACC and NDACC) at different levels of earnings cycles for minority shareholders in particular. Further, the evidence could also provide insights into the economic incentives for discretionary accounting choice and disclosure of the results of these earnings cycles. Originality/value It is an original paper which highlights the earnings behaviour and its motivation in Indian corporate enterprises for earnings cycles with regard to stock pricing.

The purpose of this review is to examine five stages of process improvement in bioengineering of cellular products that could facilitate standardization and accelerate progress through the regulatory pathways and together make such treatments more widely available. We present solutions to reduce costs, promote standardization, and enable acceleration through the required regulatory pathways. Regenerative medicine-based technologies and products have the potential to revolutionize the practice of medicine and become the next standard of care. We identify current barriers that are limiting the widespread availability of these potential life-saving treatments and platform technologies. One central barrier is the cost of manufacturing these regenerative medicine-based technologies and products at commercial scale.

The PDZ-binding kinase (PBK) protein is localised exclusively in spermatogenic cells, such as spermatogonia, spermatocytes and round spermatids, of the adult testis. However, its role in male fertility remains unknown. Analysis of adult Pbk-knockout (KO) male mice showed no significant difference in the weight of the testes, epididymis and seminal vesicle compared with adult wild-type (WT) mice. There were no significant differences in testis morphology, tubule diameter and the number of offspring born to females mated with KO or WT male mice. Sperm number, motility and morphology did not differ significantly between KO and WT mice. The oocyte fertilisation rate and embryo development following IVF were comparable between groups fertilised using spermatozoa from KO versus WT mice (P>0.05). Further analysis revealed that the phosphorylation of the mitogen-activated protein kinases (MAPKs) p38 kinase, c-Jun N-terminal kinase (JNK) and extracellular signal-regulated kinases was dysregulated in the testis of KO mice. In conclusion, Pbk-KO male mice are fertile and their spermatozoa and testis do not show any morphological and functional abnormalities despite the dysregulated phosphorylation of MAPKs. It is likely that functional redundancy of PBK and overlapping substrate specificities of the MAPK superfamily compensated for the loss of PBK from the testis.

Generalized multiprotocol Label Switching (GMPLS) is a set of rules which is used in various layers like the Wavelength Division Multiplexing (WDM) layer, Time Division Multiplexing (TDM) layer, etc. to generalize the concepts of labels of Multiprotocol Label Switching networks. A block in call occurs when number of requests is more than the servers and waiting rooms. This call blocking is the very important parameter and can be calculated in terms of probability. There are a number of models to calculate the call blocking probability like Erlang B, Erlang C, etc. This paper suggests a novel, efficient and less – complex model which minimize the call blocking to very much extent for GMPLS networks. This model deals with the factors like number of wavelengths, number of links, traffic intensity, etc. which can help in reducing the call blocking probability and give better results. In this paper, the call-blocking probability is also compared with number of links by considering different wavelengths. A comparison of call-blocking probability of proposed model is also analysed. This paper deals with blocking probability optimization in GMPLS Networks using Fredericks approach. We have used peakedness factor from Fredericks approach in Engset’s formula for this optimization.”