Han Donker

A Novel Regression Based Model for Detecting Anemia Using Color Microscopic Blood Images

Modeling human blood components and disorders is a complicated task. Few researchers have attempted to automate the process of detecting anemia in human blood. These attempts have produced satisfactory but not highly accurate results. In this paper, we present an efficient method to estimate hemoglobin value in human blood and detect anemia using microscopic color image data. We have developed a logit regression model using one thousand (1000) blood samples that were collected from Prince George Hospital laboratory. The output results of our model are compared with the results of the same sample set using CELL-DYN 3200 System in Prince George Hospital laboratory, and found to be near identical. These results exceed those reported in the literature. Moreover, the proposed method can be im-plemented in hardware with minimal circuitry and nominal cost.

ERP system implementation announcements: does the market cheer or jeer the adopters and vendors?

Purpose - – The purpose of the study is to examine the implementation of Enterprise Resource Planning (ERP) on the announcement of firms’ stock market returns. The authors investigate the stock market reaction on ERP adopters and ERP vendor firms in the USA during 1990-2010. The study examines firm- and non-firm-specific factors including the role of the financial analyst in explaining the determinants of the cumulative abnormal returns surrounding ERP announcements of adopting firms. Design/methodology/approach - – Data on ERP system implementation announcements of 112 US firms for the period 1990-2010 were collected from LexisNexis Academics. The authors estimate abnormal returns using an event study methodology for each of the ERP announcements based on the Fama–French three-factor and Fama–French-momentum four-factor models for ERP adopters and for vendors. Subsequently, the authors explain the determinants of abnormal returns in terms of firm and non-firm behavioral variables using cross-section regression methodology. Findings - – The empirical results establish that cumulative abnormal returns of US firms on ERP system implementation announcements are positive, signifying that investors view this decision positively and that ERP implementation contributes to enhanced business value in the future. On the contrary, the impact of ERP announcements on vendors is muted. We find that the extent of financial analyst coverage negatively impacts abnormal returns, while the extent of stock market liquidity has a significant positive impact on abnormal returns. Research limitations/implications - – This study is based on a sample of ERP implementing firms which are predominantly large firms and on technology provided by one vendor that is predominantly monopolistic. Practical implications - – Firms’ attitudes toward implementing an ERP system for future efficiency gains and the implications on the stock market (and indirectly, on the cost of equity of adopters) provide valuable insights for firms and stock markets. Originality/value - – This study brings clarity to the debate on stock market impacts of ERP implementation announcements – stock markets cheer such announcements. The study also contributes to the literature by examining firm-specific factors (such as performance, size and leverage) and non-firm-specific factors (such as market risk and analyst coverage) in explaining the determinants of abnormal returns of firms announcing ERP investment.

Confucius confusion: analyst forecast dispersion and business cycles

Purpose n n n n nFinancial analysts have been found to be overconfident. The purpose of this paper is to study the ramifications of that overconfidence on the dispersion of earnings estimates as a predictor of the US business cycle. n n n n nDesign/methodology/approach n n n n nWhether aggregate analyst forecast dispersion contains information about turning points in business cycles, especially downturns, is examined by utilizing the analyst earnings forecast dispersion metric. The primary analysis derives from logit regression and Markov switching models. The analysis controls for sentiment (consumer confidence), output (industrial production), and financial indicators (stock returns and turnover). Analyst data come from Institutional Brokers Estimate System, while the economic data are available at the Federal Reserve Bank of St Louis Economic Data site. n n n n nFindings n n n n nA rise in the dispersion of analyst forecasts is a significant predictor of turning points in the US business cycle. Financial analyst uncertainty of earnings estimate contains crucial information about the risks of US business cycle turning points. The results are consistent with some analysts becoming overconfident during the expansion period and misjudging the precision of their information, thus over or under weighting various sources of information. This causes the disagreement among analysts measured as dispersion. n n n n nOriginality/value n n n n nThis is the first study to show that analyst forecast dispersion contributions valuable information to predictions of economic downturns. In addition, that dispersion can be attributed to analyst overconfidence.

Financial statement effects of adopting IFRS: the Canadian experience

Purpose The purpose of this study is to examine the effects of adopting International Financial Reporting Standards (IFRS) on financial statements of the largest Canadian firms (S&P/TSX 60) listed on the Toronto Stock Exchange (TSX). Design/methodology/approach We investigate the financial statement effects of 46 companies from the S&P /TSX 60 index which report under IFRS in 2011 and switched to IFRS from CGAAP. We used use panel data analysis, which can be considered as more powerful when conducting cross-sectional and in time analysis among companies. Due to weakness of Cramer statistic on R-square, we used interaction terms as suggested by Hope (2007). Findings Consistent with our perceptions, we find that significant effects of adopting IFRS are associated with industry practices. The empirical results show that the adoption of IFRS in Canada created more relevant financial reporting for book value of equity and net income in the post-adoption periods. Originality/value The study should be of interes...

The political economy of human rights organizations’ codes of ethics

Purpose n n n n nThis paper scrutinizes the impact of socioeconomic, political, legal and religious factors on the internal ethical values of human rights organizations (HROs) worldwide. The authors aim to examine the Code of Ethics for 279 HROs in 67 countries and the social and legal settings in which they operate. n n n n nDesign/methodology/approach n n n n nUsing the framework of protect, respect and remedy, the authors look for keywords that represent the human rights lexicon in these three areas. In the protection of human rights, the authors select the terms: peace, transparency, freedom and security. For the respect of humans, the authors use the terms: dignity, equality, respect and rights. Sources of remedies come from justice and ethics. The analysis seeks to determine what political economy settings drive the ethical value choices of the organizations. Those choices are proxied by those keywords they mention in their Code of Ethics. n n n n nFindings n n n n nThe analysis show that the scope of ethical values mentioned are higher when the HRO is in a country with more domestic violence, lower income inequality, French civil or Islamic legal origin and higher trust in politicians. In regard to the determinants of the ten keywords individually, the authors conclude that the status of the socioeconomic, political, religious and legal settings impact with local HROs mention each of the keywords: peace, justice, transparency, dignity, equality, ethics, respect, freedom, security and rights. n n n n nResearch limitations/implications n n n n nThe analysis is based on HROs that have a webpage in English and list the employee Code of Conduct. n n n n nOriginality/value n n n n nThis study is the first to examine the Code of Ethics for HROs. The authors demonstrate that country-specific characteristics help to drive their internal ethical values.