Using the setting of earnings conference calls, this paper investigates the temporal focus of management presentation during those calls, i.e., the extent to which managers allocate their discussions to future firm prospects relative to past firm performance. I find a negative association between firms' past performance and the future focus of management presentation. Moreover, the association is less negative for firms with more long-term investors and is more negative for firms with high litigation risk. Additionally, I find that the temporal focus of management presentation is positively associated with that of analyst questions. I also find that managers' future focus is positively associated with the number of analysts following the firm but negatively associated with forecast quality of analyst reports (lower accuracy and higher dispersion). Finally, I find the future discussions in management presentation is positively associated with the time that analysts took to release the next quarter's forecasts. / Ph. D. / In recent years, it has become a common practice for public companies to hold earnings conference calls right after the release of their quarterly earnings results. Earnings conference calls are also publically accessible. Thus, earnings conference calls are believed to contain timely and important information to investors, analysts, and other interested parties. During the calls, managers first highlight the company’s financial performance and discuss its future prospects, and then answer some questions asked by call participants (primarily financial analysts). This paper investigates how managers allocate their effort to discuss the company’s future firm prospects (i.e., future focus) based on its quarterly earning results (past firm performance). I find managers are more likely to discuss future firm prospects when they have a bad quarter; and are more likely to discuss past results when they have a good quarter. In other words, there is a negative association between firms’ past performance and the future focus of management discussion. Moreover, I find the association is less negative for firms with more long-term investors and is more negative for firms with high litigation risk. Additionally, I find that when managers allocate more discussions on the future, analysts tend to ask more questions about the future. I also find that managers’ future focus is positively associated with the number of analysts following the firm but negatively associated with forecast quality of analyst reports. Finally, I find that managers’ future focus is positively associated with the time that analysts took to release the next quarter’s forecasts.

A major challenge faced by project managers is balancing the variables of scope, cost, and schedule. Changes in scope usually result in cost/schedule overruns. Variance in either or both of them creates disorder (typically increases) in the estimated or projected time and cost. Therefore, controlling cost and schedule are two of the most critical aspects of a construction project. This research uses two already existing management theories, specifically Management by Means (MBM) and Management by Results (MBR), and analyzes a case where these two theories are combined with the goal of improving construction practices. This research compares an eight month schedule in a construction project and relates Percentage of Planned activities Completed (PPC) with projected and actual draw (cash) calls. The research analyzes the question of how lean construction PPC captures variance in cost. The research method is based on a literature review, data collection, case study and data interpretation to answer the hypothesis that improvement in PPC over a particular month has a positive correlation with difference between cash calls. Because this research is limited to a time frame of 8 months in a single project, it is not statistically significant. However, this research serves to create a model template or pilot study for a larger study.

The ability to communicate referentially has been historically viewed as being uniquelly human. However, with the increasing amount of studies discussing the communicative faculty of animals in the context of the evolution of human language, there is now growing evidence that this ability is present in many animal species, too. Although we know a lot about mimetic abilities of domesticated African grey parrots' (Psittacus erithacus) and their competence to use human words in a referential way, we know very little about the elements of referentiality in their natural vocalization. Our goal in this work was to find, whether and in which context is functionally referential vocalization in this species of birds present. We were determining its presence by the experiment, in which we have exposed four captured African grey parrot, in the ownership of FHS UK Prague, to stimuli that in other animal species usually elicit functionally referential vocalization: predators and prefered type of food. We analysed the behaviour and vocalizations of the tested birds by analytic softwares Interact, respectively Soundforge 0.8. We find out, that despite the fact that birds reaponded to our experimental objects appropriatelly (i.e. "predators" caused more fear and the like), they give the major amout of...

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Having the ability to perform large automatic software changes in a code base gives new possibilities for software restructuring and cost savings. The possibility of replacing software libraries in a semi-automatic way has been studied. String metrics are used to find equivalents between two libraries by looking at class- and method names. Rules based on the equivalents are then used to describe how to apply the transformation to the code base. Using the abstract syntax tree, locations for replacements are found and transformations are performed. After the transformations have been performed, an evaluation of the saved effort of doing the replacement automatically versus manually is made. It shows that a large part of the cost can be saved. An additional evaluation calculating the maintenance cost saved annually by changing libraries is also performed in order to prove the claim that an exchange can reduce the annual cost for the project.

Master of Science / Department of Electrical and Computer Engineering / Sanjoy Das / Anil Pahwa / Outage management describes system utilized by electric distribution utilities to help restore power in event of an outage. The complexity of outage management system employed by different utilities to determine the location of fault could differ. First step of outage management is to know where the problem is. Utilities typically depend on customers to call and inform them of the problem by entering their addresses. After sufficient calls are received, the utility is able to pinpoint the location of the outage. This part of outage management is called trouble call analysis. In event of fault in a feeder of a radial distribution system, the upstream device or the device that serves to protect that particular zone activates and opens the circuit. This particular device is considered as the operated protective device. The knowledge of the activated protective device can help locate the fault. Repair crews could be sent to that particular location to carry out power restoration efforts. The main objective of this work is to study model of distribution system that could utilize the network topology and customer calls to predict the location of the operated protective device. Such prediction would be based on the knowledge of the least amount of variables i.e. network topology and customer calls. Radial distribution systems are modeled using the immune system algorithm and test cases with trouble calls are simulated in MATLAB to test the effectiveness of the proposed technique. Also, the proposed technique is tested on an actual feeder circuit with real call scenarios to verify against the known fault locations.

Background: Frail elderly is described as multi diseased, vulnerable, in need of medication and hospital care. The group of patients is a growing part of the population in the western world. Theories of patient centered care, health literacy and hand over problems are also described in the background. Aim: to describe a group of frail elderly patients experiences of hospital readmission and identify possible organizational flaws. Method: Qualitative data was collected from 20 patients during their second visit at the hospital and a content analysis was performed. Results: Findings were; experiences of ill being ever since the first hospitalization period due to not being well enough, being sent home to quickly or relatives not being strong enough to handle the situation. Experiences of not being informed or being informed in a noisy surrounding about the given care, and how to rehab when returning home. Findings also described situations of misunderstanding related to informant´s present medication and finally a need for appropriate discharge calls for the frail elderly patient. Conclusion: The results highlight a need to act according to the patient´s legal rights to be informed and participate in the decision-making. An implementation of patient centered care can make it possible. An increased number of nursing specialists in the elderly care might also lead to improved continuity and give support to the frail elderly.

<p>Prior empirical research has shown that forward-looking statements can be particularly informative to investors (Li 2010; Muslu et al. 2014). However, the inherent uncertainty surrounding forward-looking statements may contribute to a delayed price reaction. This paper examines the market reaction to backward-looking statements and to forward-looking statements across a 60 trading-day horizon. I did not find evidence suggesting the inherent uncertainty of forward-looking statements contributes to a delayed price reaction. However, backward-looking statements are associated with a delayed price response. This result is consistent with Bernard and Thomas’s (1990) suggestion that post-earnings announcement drift is caused by investors not fully understanding how current earnings map into future earnings. I also provide evidence that, for the prepared remarks, investors have a stronger price reaction to net backward-looking tone than to net forward-looking tone. However, for the question-and-answer session, the opposite is true. Investors have a stronger price reaction to net forward-looking tone than to net backward-looking tone. This result suggests that managers should focus their prepared remarks on the prior performance of the firm and focus their responses during the question-and-answer session on the future performance of the firm. </p>

A competição por recursos pode ocorrer de forma direta, por meio da monopolização do recurso, ou de forma indireta, por meio do esgotamento do recurso. Sinais comunicativos, usados em contexto de competição, podem regular a competição pela manipulação do comportamento de outros indivíduos. Em espécies de primatas que forrageiam em grupos estáveis e grandes, nas quais a competição alimentar é mais intensa, a vocalização de alimento pode ter a função de regular a competição alimentar indicando a disposição em ser aproximado ou anunciando a posse do alimento, ambos os casos diminuindo a probabilidade do emissor ser agredido. Alternativamente, as vocalizações de alimento podem ter a função de melhorar a reputação dos indivíduos que vocalizam. Macacos-prego emitem tipos de vocalizações diferentes de acordo com a distribuição do alimento no ambiente, diminuindo ou aumentando a distância entre os indivíduos, o que sugere a emissão de vocalizações específicas para regular cada tipo de competição. O objetivo desse trabalho foi investigar a ocorrência e a função das vocalizações associadas a alimento emitidas por um grupo de macacos-prego (Sapajus libidinosus). O estudo foi realizado em uma região de ecótono entre Cerrado e Caatinga, na Fazenda Boa Vista, Piauí. Pelo método animal focal (60 minutos) foram registradas características do emissor, da fonte alimentar e do contexto social durante um turno alimentar. Em fontes agregadas, o tamanho e a quantidade de alimento também foram registrados. As vocalizações foram gravadas de forma contínua durante cada focal e posteriormente classificadas em: chihui, chihui2, nota de contato, grgr e FAWS. A probabilidade de emitir essas vocalizações foi maior em contexto de alimentação do que em outros contextos, e entre os contextos de alimentação, vocalizações do tipo FAWS e grgr tiveram uma associação com o contexto de alimentos aprovisionados e agregados e chihui teve uma associação mais fraca com alimentos agregados e também foi emitida em contexto de forrageamento. Vocalizações do tipo FAWS e grgr tiveram uma maior probabilidade de serem emitidas por indivíduos submissos, em fontes com grande quantidade de alimento e quando o número de vizinhos é alto. Essas vocalizações devem ser emitidas, então, em contexto de disputa direta mais intensa, em fontes cuja proporção de alimento consumido é menor e, portanto, quando compartilhar a mesma fonte não deve ser tão custoso para o emissor, corroborando a hipótese de regular a competição alimentar direta pela redução da agressão. Vocalizações do tipo Chihui tiveram uma maior probabilidade de emissão em contexto de competição indireta ou direta, em fontes com quantidade média de alimento, onde a proporção de alimento consumido é maior e, portanto, quando compartilhar a mesma fonte deve ser mais custoso. O número de vizinhos e a presença de indivíduos dominantes não afetaram a probabilidade de emitir vocalizações. Esses resultados corroboram a hipótese de regular a competição alimentar direta ou indireta pelo afastamento dos indivíduos. Esses resultados sugerem que macacos-prego regulam cada tipo de competição alimentar através de diferentes tipos de vocalizações de alimento / Resource competition among animals can occur directly, through monopolization, or indirectly, through depletion. Communicative signals in competition contexts can regulate competition by manipulating behaviour of other individuals. Primate species that forage in stable and large groups, which experience intense food competition, may decrease food competition through food calls, which indicate either the willingness to be approached by other individuals or to announce the ownership of food, both decreasing the aggression against the caller. Alternatively, food calls may enhance the callers reputation. Capuchin monkeys emit different types of food calls according to food distribution in the habitat, decreasing or increasing the distance between individuals, which suggests the emission of specific vocalizations regulates each type of food competition. The aim of this study was to investigate the occurrence and the function of food-associated calls emitted by a group of capuchin monkeys (Sapajus libidinodus). Data were collected in Fazenda Boa Vista, Piauí, a transition between Cerrado and Caatinga. The characteristics of the caller, of the food resource and of the social context during a feeding bout were recorded according to focal animal method (60 minutes). In clumped resources, resource size and quantity of food were also registered. Vocalizations were continuously recorded during each focal and classified as: chihui, chihui2, contact note, grgr and FAWS. The probability of calling was higher in feeding contexts than in other contexts and, among the feeding contexts, FAWS and grgr calls were associated to provisioned and clumped foods and chihui was weakly associated to clumped foods and also emitted in forage context. FAWS and grgr calls had a higher probability of emission by subordinate individuals, in resources with a large quantity of food, and when the caller had a large number of neighbors. These vocalizations were emitted, then, in intense contest competition, in sources with low proportion of food, therefore, when sharing food would not be so costly for the caller, supporting the hypothesis of regulating contest competition by decreasing the probability of aggression. Chihui calls had a higher probability of emission in scramble and contest competition, in sources with medium quantity of food, which the proportion of consumed food is high, therefore, when sharing food would be more costly. The number of neighbors and the presence of dominant individuals did not affect the probability of call. These results support the hypothesis that food calls decrease scramble and contest competition by increasing interindividual distance. These results suggest that capuchin monkeys can regulate each type of food competition through different types of food calls

A competição por recursos pode ocorrer de forma direta, por meio da monopolização do recurso, ou de forma indireta, por meio do esgotamento do recurso. Sinais comunicativos, usados em contexto de competição, podem regular a competição pela manipulação do comportamento de outros indivíduos. Em espécies de primatas que forrageiam em grupos estáveis e grandes, nas quais a competição alimentar é mais intensa, a vocalização de alimento pode ter a função de regular a competição alimentar indicando a disposição em ser aproximado ou anunciando a posse do alimento, ambos os casos diminuindo a probabilidade do emissor ser agredido. Alternativamente, as vocalizações de alimento podem ter a função de melhorar a reputação dos indivíduos que vocalizam. Macacos-prego emitem tipos de vocalizações diferentes de acordo com a distribuição do alimento no ambiente, diminuindo ou aumentando a distância entre os indivíduos, o que sugere a emissão de vocalizações específicas para regular cada tipo de competição. O objetivo desse trabalho foi investigar a ocorrência e a função das vocalizações associadas a alimento emitidas por um grupo de macacos-prego (Sapajus libidinosus). O estudo foi realizado em uma região de ecótono entre Cerrado e Caatinga, na Fazenda Boa Vista, Piauí. Pelo método animal focal (60 minutos) foram registradas características do emissor, da fonte alimentar e do contexto social durante um turno alimentar. Em fontes agregadas, o tamanho e a quantidade de alimento também foram registrados. As vocalizações foram gravadas de forma contínua durante cada focal e posteriormente classificadas em: chihui, chihui2, nota de contato, grgr e FAWS. A probabilidade de emitir essas vocalizações foi maior em contexto de alimentação do que em outros contextos, e entre os contextos de alimentação, vocalizações do tipo FAWS e grgr tiveram uma associação com o contexto de alimentos aprovisionados e agregados e chihui teve uma associação mais fraca com alimentos agregados e também foi emitida em contexto de forrageamento. Vocalizações do tipo FAWS e grgr tiveram uma maior probabilidade de serem emitidas por indivíduos submissos, em fontes com grande quantidade de alimento e quando o número de vizinhos é alto. Essas vocalizações devem ser emitidas, então, em contexto de disputa direta mais intensa, em fontes cuja proporção de alimento consumido é menor e, portanto, quando compartilhar a mesma fonte não deve ser tão custoso para o emissor, corroborando a hipótese de regular a competição alimentar direta pela redução da agressão. Vocalizações do tipo Chihui tiveram uma maior probabilidade de emissão em contexto de competição indireta ou direta, em fontes com quantidade média de alimento, onde a proporção de alimento consumido é maior e, portanto, quando compartilhar a mesma fonte deve ser mais custoso. O número de vizinhos e a presença de indivíduos dominantes não afetaram a probabilidade de emitir vocalizações. Esses resultados corroboram a hipótese de regular a competição alimentar direta ou indireta pelo afastamento dos indivíduos. Esses resultados sugerem que macacos-prego regulam cada tipo de competição alimentar através de diferentes tipos de vocalizações de alimento / Resource competition among animals can occur directly, through monopolization, or indirectly, through depletion. Communicative signals in competition contexts can regulate competition by manipulating behaviour of other individuals. Primate species that forage in stable and large groups, which experience intense food competition, may decrease food competition through food calls, which indicate either the willingness to be approached by other individuals or to announce the ownership of food, both decreasing the aggression against the caller. Alternatively, food calls may enhance the callers reputation. Capuchin monkeys emit different types of food calls according to food distribution in the habitat, decreasing or increasing the distance between individuals, which suggests the emission of specific vocalizations regulates each type of food competition. The aim of this study was to investigate the occurrence and the function of food-associated calls emitted by a group of capuchin monkeys (Sapajus libidinodus). Data were collected in Fazenda Boa Vista, Piauí, a transition between Cerrado and Caatinga. The characteristics of the caller, of the food resource and of the social context during a feeding bout were recorded according to focal animal method (60 minutes). In clumped resources, resource size and quantity of food were also registered. Vocalizations were continuously recorded during each focal and classified as: chihui, chihui2, contact note, grgr and FAWS. The probability of calling was higher in feeding contexts than in other contexts and, among the feeding contexts, FAWS and grgr calls were associated to provisioned and clumped foods and chihui was weakly associated to clumped foods and also emitted in forage context. FAWS and grgr calls had a higher probability of emission by subordinate individuals, in resources with a large quantity of food, and when the caller had a large number of neighbors. These vocalizations were emitted, then, in intense contest competition, in sources with low proportion of food, therefore, when sharing food would not be so costly for the caller, supporting the hypothesis of regulating contest competition by decreasing the probability of aggression. Chihui calls had a higher probability of emission in scramble and contest competition, in sources with medium quantity of food, which the proportion of consumed food is high, therefore, when sharing food would be more costly. The number of neighbors and the presence of dominant individuals did not affect the probability of call. These results support the hypothesis that food calls decrease scramble and contest competition by increasing interindividual distance. These results suggest that capuchin monkeys can regulate each type of food competition through different types of food calls