Boston College

About: Boston College is a education organization based out in Boston, Massachusetts, United States. It is known for research contribution in the topics: Population & Poison control. The organization has 9749 authors who have published 25406 publications receiving 1105145 citations. The organization is also known as: BC.

Gaap Versus the Street: An Empirical Assessment of Two Alternative Definitions of Earnings

Abstract: Security analysts, investors and the press are increasingly relying on modified definitions of GAAP net income, known by such names as 'operating EPS' and 'pro forma EPS.' These new 'Street' definitions of EPS exclude items such as 'non-recurring' and 'non-cash' charges. Moreover, this move to Street definitions of EPS has been accompanied by a dramatic increase in the proportion of corporate expenses that are classified as excluded items. The outcome has been a large and growing gap between the GAAP EPS that is reported in firms' financial statements and the Street EPS that is tracked by analysts and priced by investors. This increasing use of 'Street' definitions of earnings represents a subtle form of earnings management and has important implications for both academics and practitioners.

Stem cells act through multiple mechanisms to benefit mice with neurodegenerative metabolic disease.

Abstract: Intracranial transplantation of neural stem cells (NSCs) delayed disease onset, preserved motor function, reduced pathology and prolonged survival in a mouse model of Sandhoff disease, a lethal gangliosidosis. Although donor-derived neurons were electrophysiologically active within chimeric regions, the small degree of neuronal replacement alone could not account for the improvement. NSCs also increased brain beta-hexosaminidase levels, reduced ganglioside storage and diminished activated microgliosis. Additionally, when oral glycosphingolipid biosynthesis inhibitors (beta-hexosaminidase substrate inhibitors) were combined with NSC transplantation, substantial synergy resulted. Efficacy extended to human NSCs, both to those isolated directly from the central nervous system (CNS) and to those derived secondarily from embryonic stem cells. Appreciating that NSCs exhibit a broad repertoire of potentially therapeutic actions, of which neuronal replacement is but one, may help in formulating rational multimodal strategies for the treatment of neurodegenerative diseases.

Trends in the Transitory Variance of Earnings in the United States

Abstract: We decompose the rise in cross-sectional variance of male annual earnings in the United States from 1969 to 1996 into permanent and transitory components. We find that the variance of permanent earnings began rising in the the late 1970s and has continued to rise in the 1980s. The variance of transitory earnings also rose in the 1980s but declined in the 1990s. There are lags in the earnings process which require a structural model to pinpoint the exact calendar times at which the changes in trends occurred.

The Role of Supplementary Statements with Management Earnings Forecasts

Abstract: We investigate managers' decisions to supplement their firms' management earnings forecasts. We classify these supplementary disclosures as either qualitative "soft talk" disclosures or verifiable forward-looking statements. We find that managers provide "soft talk" disclosures with similar frequency for good and bad news forecasts, but are more likely to supplement good news forecasts with verifiable forward-looking statements. We examine the market response to these forecasts and find that bad news earnings forecasts are always informative but that good news forecasts are informative only when supplemented by verifiable forward-looking statements, suggesting that these statements bolster the credibility of good news forecasts.