While improving the seasoned equity offerings, companies often manipulate the earnings or window the financial statements to get approval and increase IPO prices, and thus acquiring the funds easier. The main focus for this study is to exam whether the firms listed in Taiwan Stock Exchange manipulate earnings through discretionary accruals before the seasoned equity offerings, and the relationship between pre-issue discretionary accruals and the post-issue earnings, operating performance and long-term stock returns. The sample observed consists of 226 firms listed in Taiwan Stock Exchange conducting seasoned equity offering from 1991 to 1998 and the Modified Jones Model was used to estimate the discretionary accruals basing on the financial statements of the year. The discretionary accruals are the main research variables. The empirical results show that: 1. Firms listed in Taiwan Stock Exchange intend to manipulate the discretionary current accruals before conducting the seasoned equity offerings in order to improve earnings, and the larger pre-issue discretionary accruals, the larger the decline of post-issue earnings. 2. The post-issue total asset returns are clearly negatively correlated to the discretionary current accruals in the year before the seasoned equity offerings, indicating that the adjustment of discretionary accruals will influence the post-issue operating performance. 3. Excluding the possible influences from the industry, the discretionary current accruals present significantly negative effect on the post-issue operating performance. The level of earnings management becomes larger, the post-issue long-term stock return will decline greater.

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Nowadays, an enterprise is facing more and more pressure, which leads to its concentration on creation or keeping the shareholder value. However, the disadvantage of traditional financial statements makes an enterprise unable to communicate in a effective way to let investors fully understand the real value of an enterprise. The purposes of reducing the distortion of GAAP accounting system, converting the accounting value into economic value, and becoming the investors¡¦ evaluation index are the attentions of this article in the study based on the EVA¡]Economics Value Added¡^foundation. This research is attempting to understand the real economic status hidden under the volatility of an enterprise value. Making the related research on evaluating the MVA on external managing effects, judging the company value according to current EVA (which is so-called COV ) and predicting the FGV with the growth of a company, is to find out the factors forming the trace of volatility itself. The actual evidence tells that the electronics categorized stocks are in the status of positive relation instead of negative relation. It just shows the transition from PC to communication network, the eventual phenomena of pricking the bubbles of net work in the field of electronic industry, the transfer of overall market trend, and the market performance of losing the favors of investors in non-electronics industry. As for FGV and MVA, it shows the positive relation between different categorized stocks, and it also outstands the situation of inflation and deflation in Taiwan stock market. In the analysis of the research mentioned above, we identify the value volatility traces of an enterprise. As for the key factor which effects the volatility, this research is attempting to explain the key influence on the value volatility of COV, FGV and MVA from the view points on the aspects of macroeconomic, industry information, market static data. The outcome of actual evidence also reveals that explaining capability on COV, FGV, and MVA from the views on macroeconomic aspect can truly reflect the situation of the volatility, and can be very helpful to realize the change trend of an enterprise.

Objective Healthcare system now, with global budget payment, is facing an increasing challenge mainly due to patient oriented environment, more demand for service quality and organizational re-arrangement. Also due to the high cost of personalle and equipments in the operation room , it is quite important to maintain the high efficiency of management to encompass high volume of surgeries. Staffing and scheduling is the most important issue in the management of the operating room and has direct impact on the operational efficiency, cost and revenue. The purpose of this study is to investigate the influence of staffing and scheduling of the operating room on its efficiency. How we control the sum of the patients requiring operation under present circumstances lies on whether or not we have efficient management of the operation room. The most important part among it depends on the ability of schedule arrangement, which directly influence the performance audit and cost. Materials and Methods:The purpose of this study is to discuss the impact of schedule arrangement on cost in the operation room of one medical center. Retro spective descriptive design. Those first operations performed from July 1st, 2003 to June 30th, 2004 were collected into the controlled group while those performed from July 1st, 2004 to June 30th, 2005 were gathered into the experimental group. Indicators of the effect including the sum of the patients receiving operation, the utilization rate of the operation room, the cancellation rate of scheduled operation, the number of overtime nursing staff and overtime payment, the delayed rate and time of the first operation. We use ANOVA, x2 test, multiple logistic regression and t test to analyze these data. We will discuss issues as the followings to smooth our operation schedule: the arrangement of the fist operation by program manager, setting up a flow chart for nursing staff while admitting the patients, establishing a check-in flow chart for patients of out-patient department and deployment of pageboys. Results: The data showed that the incidence of delaying surgery were decreased by 8.4% in the experiment group as compared to the control group. The operation room occupation rate increased to 84.3% in control group, as compared to 78.25% in experiment group. There is 0.76% decrease in the rate of canceling operation schedule . The number of nursing staff who worked overtime and the overtime payment decreased significantly. The time needed from patients entering operation room to the operation began also decreased significantly. The rate of delaying the first scheduled operation decreased from 52.8% to 12.3%. Conclusion: Operation room managers, leader in department of surgery, and hospital managers could take our results as reference in improving efficiency and decreasing cost.

£gC/OS-II is a portable, scalable and preemptive real time kernel. In this paper, we describe the work of porting £gC/OS-II to the Xilinx ML310 platform, which is equipped with a Virtex-II Pro FPGA. Moreover, we also present the accomplishment of an OS4RS (Operating System for Reconfigurable System) prototype by integrating £gC/OS-II with the partial reconfiguration capability of the Virtex-II Pro FPGA. For the porting of the £gC/OS-II, we mainly port the code related to context switch, interrupt, and timer. Moreover, for the OS4RS prototype, we partition the FPGA into four regions and allow different circuits (i.e. hardware tasks) to be dynamically reconfigured (i.e. downloaded) into the regions under the control of £gC/OS-II. Finally, we propose an algorithm to predict and pre-configure the hardware tasks so as to reduce the waiting time of task reconfiguration. According to the simulation results, the proposed algorithm can reduce the waiting time effectively.

In the beginning stage of economic development in Taiwan, the market was lack of funding and the capital market is immature. The majority of financial institutions are public banks. With the development of financial liberalization, Taiwan government lifted the restrictions on establishing private commercial banks on 1991. Following that, public banks face challenges of the fierce competition with private banks, comply with policy of the authorities to authorize special policy loans or generally take over insolvent banks. The public banks were under such severe challenges and the under performing problems were expected to be solved only by privatization. Consequently, following the Act Governing the Conversion of State Owned Enterprises into Private Enterprises entered into effect in 1992, the Privatization of public banks in Taiwan began. Since the Asia finance turmoil occurred, the operation of financial institution significantly deteriorates. The overall Non-Performing Loan Ratio is high due to low financial institution loan quality. In addition, Taiwan banks face a severe problem that whether the current overall domestic financial market is too small for all the current financial institutions? Is the operation scale of Taiwan banks competitive internationally? Presuming the current operation scale of Taiwan banks is weak among international competition, what are the development alternatives for Taiwan banks? The research scope of this study is based on the current general operations, merger cases, and the development strategies applied in the second stage financial reform of Taiwan banks. In the case study, the merger case targeted is the most successful merger in the second stage financial reform, where the financial product development is improved by the merger synergy. In addition, the policy goals to reduce the number of government-owned banks by half and facilitate introduction of foreign funding are realized, which contributes to Taiwan economic development. This study first introduces the overall development of public banks, followed by case studies of operating performance and financial data on Taiwan Cooperative Bank and the Farmers Bank of China. This study is conducted through the operating performance analysis on two targeted banks and overall banks. The analysis includes return on assets, return on equity, earning per share. Also the analysis includes the comparison analysis of market competition status with financial holding companies, which is critical reference to evaluate the development potential when the Taiwan Cooperative Banks establishes a financial holding company in the future. The analysis further includes combined market analysis, and SWOT analysis to compare the strengths, weaknesses, opportunities and threats of these two public banks.

It is usually more efficient and competitive to operate a hospital by juridical person then government in Taiwan. We compare two different type hospitals to prove our opinion. Although there may exit some specific objective for hospitals established by government. In financial point of view, we still believe that it must be the tendency of operation formality to a government-owned but private-operated hospital.

Financial statement quality can directly affect investor confidence. Financial fraud is most through misstated financial reports, and even fraudulent misstatement may result from financial restatement. Well-functioning mechanisms can improve financial statement quality. In this study, the financial restatements from 2002 to 2008 were investigated to discuss the influences of operating performance, degree of earnings management and corporate governance mechanisms. The results reveal that the worse the operating performance, the more probability the financial restatements. It indicates that increasing earnings can cover up bad operation. It is further found that the financial restatements with worse operating performance will probably increase their restatement amounts. In the aspect of earnings management, the results show that the higher the degree of earnings management by discretionary accruals, the more probability the financial restatements. It is indicative of the manager use discretionary accruals to operate the earnings management in order to cover up their worse financial performance. But the verified result is not outstanding. It is also found that the financial restatements with higher degree of earnings management by discretionary accruals will probably increase their restatement amounts. Finally, the results can not prove whether the corporate governance mechanisms show that the financial restatements probably occur in the companies with CEO duality. Moreover, the results also can not prove whether the larger the board of directors, the higher their restatement amounts.

Vehicle operating costs are an invaluable tool to transportation engineers, who utilize them in applications such as cost-benefit analyses and utilization pricing. Many of the existing models in use, however, are significantly out-of-date with current technology. Research was undertaken in partnership with the Texas Department of Transportation (TxDOT) to develop a new model of the operating costs associated with Texas vehicle fleets. A vehicle operating cost (Vcost) model was produced which estimates variable and fixed costs associated with both light-duty and heavy-duty vehicles. The model calculates both aggregate fleet costs and costs for individual representative vehicles. An analysis of Texas Vehicles, Titles, and Registration (VTR) records; Weigh-in-Motion data; vehicle counts; and national car sales data was used to generate the breakdown of the Texas fleet of vehicles and to determine representative vehicles. Operational costs for these vehicles fell into two main categories: fixed costs (depreciation, financing, insurance, and other) and variable costs (fuel and maintenance/repair). Relations were determined for each cost category for each representative vehicle over its entire operational age. In the case of heavy-duty vehicles, much of the operational costs information is proprietary and had to be gathered in survey work conducted with other members of a research team. A computer program was written that incorporates the cost relations for the representative vehicles as well as the Texas fleet characteristics in such a way that the user can examine the costs of both an individual vehicle and the aggregate costs associated with a fleet of vehicles. The user can also input a default fleet composition. The model allows users to alter key parameters (such as fuel price, financing rates, insurance costs, or vehicle fuel economies) for future adaptability to a changing economic and technological landscape. The model was developed in parallel with another researcher working on an advanced fuel consumption model, which would later be integrated into to the Vcost model. / text

This report presents operating systems that are designed to run on some of today’s the most popular DSP platforms. We look at functionally that those OSes provide to users, how they compare to general market embedded OS (like VxWorks, Linux), how they fit newest DSP platforms that features multicore architecture and highly integrated SoC. We also want to understand how those OSes can be utilized to implement selected real-time scheduling approaches. / text