Worcester Polytechnic Institute

About: Worcester Polytechnic Institute is a education organization based out in Worcester, Massachusetts, United States. It is known for research contribution in the topics: Population & Data envelopment analysis. The organization has 6270 authors who have published 12704 publications receiving 332081 citations. The organization is also known as: WPI.

Managing Earnings Surprises in the U.S. Versus 12 Other Countries

Abstract: This paper examines whether managers in the U.S. manage earnings, profits and losses surprises to a greater extent than do managers in 12 other countries. We expect managers in the U.S. to be more likely to manage earnings, profits and losses surprises than do managers in other countries since U.S. managers have greater incentives to monitor current price performance. These incentives include greater equity ownership by top executives, more monitoring by institutional and large shareholders, a larger number of outside directors on their board of directors, a greater threat of external takeovers, and a more litigious environment. Consistent with our expectations, we find that managers in the U.S. manage earnings surprises relatively more than do managers in 12 other countries. More specifically, U.S. managers are more likely to manage profits surprises than do managers in all 12 other countries examined, and they are more likely to manage losses surprises than do managers in all other countries except Japan, the only country requiring managers to forecast earnings. We also expect U.S. managers to be more likely to manage analysts' estimates, given their extensive public relations departments and their greater incentives to manage earnings surprises. Our evidence bears out our contention.

Replicative potentials of various fusion products between WI-38 and SV40 transformed WI-38 cells and their components.

Abstract: Hybrid cells derived from whole-cell fusions of replicating phase-II normal fibroblast cells (WI-38s) with SV40 transformed WI-38 fibroblast cells (CL-1s) demonstrated that the majority of the hybrid experimental cells still maintained a finite life-span. Approximately 2% demonstrated sustained and possibly indefinite replication. Experimental binucleate cells and subsequent hybrid synkaryons were also formed by fusing CL-1 karyoplasts into phase-II WI-38 replicating normal fibroblasts. In addition, viable cells were constructed from WI-38 fibroblast cytoplasts with CL-1 karyoplasts. Sustained replication was not observed in these crosses.