Basu's ["The Conservatism Principle and the Asymmetric Timeliness of Earnings." Journal of Accounting and Economics 24 (1997): 3-37] measurement of conditional conservatism as the asymmetric timeliness of earnings underlies hundreds of studies. However, many subsequent studies cast doubt on the extent to which Basu's measure captures conditional conservatism versus statistical biases or alternative constructs (collectively, "biases"), thereby questioning the validity of the inferences that empirical researchers draw from analyses using the measure. We modify Basu's measure in four simple ways to remove these biases. Our key modification is the inclusion of interactive

The question we address is whether mandated disclosure about dispersion of nonfinancial asset values can provide information relevant to assessing firm risk. Using a sample of Canadian oil and gas (O&G) firms between 2004 and 2011, we find that the difference between the disclosed 10th and 50th percentiles from the O&G reserves distribution, which measures dispersion of the distribution, is positively associated with future total and idiosyncratic equity return volatility, systematic risk, and credit risk. We also find that disclosure of increased reserves dispersion is associated with weaker stock price reactions to increases in reserves and with increases in bid-ask spreads, both of which indicate the disclosures convey information about risk associated with reserves. Additional tests reveal little evidence of managerial opportunism in the reserves disclosures. Taken together, our evidence suggests that quantitative disclosures about the dispersion of nonfinancial asset values can provide information relevant to assessing firm risk.

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Purpose: Functionality of feedback in pedagogical processes has been broadly analyzed in face-to-face learning, although to a lesser extent than in the on-line learning. Narciss (2004, 2008) distinguishes two dimensions within the feedback, the semantic dimension and the structural dimension. This article aims to analyze, from the student's perspective, the semantic dimension of feedback in a virtual learning environment (VLE).Firstly, we analyze the importance that VLE students give to feedback and its degree of personalization. Later, the usefulness that students deem feedback should have, paying special attention to each of its semantic subdimensions (Narciss, 2004).Design/methodology/approach: A survey was conducted among students of Business Administration degree of the Universitat Oberta de Catalunya (UOC). 182 students took part, separated into two groups (pilot and control).Findings: It has been proved that 90% of students give a great or very great importance to reception of feedback from their tutors, a relevance they consider to be higher than the one within a face-to-face environment. This percentage is around 75% with regard to the importance given to the level of personalization of feedback. The development of a factor analysis has revealed that usefulness of personalized feedback perceived by the students can be subsumed under two large dimensions: the one that facilitates learning (related to its semantic dimension) and the motivational one (by -627-Intangible Capital -http://dx.doi.org/10.3926/ic.622 allowing an easier and more fluid communication with the tutor, contributing not to leave the course, etc.) The latter dimension has been also proved to be key in order to attain improvements in the students' satisfaction with the learning process.This research was funded by the Catalan government and the UOC, within the framework of projects to Improve Teaching Quality (ITQ).Originality/value: Implementing personalized feedback has a relevant impact on the student, who values it because it makes his learning process easier, richer and more significant. Moreover, it has a clear motivational effect over the student, which had not been sufficiently evidenced by other researches. Such effect needs not to be underestimated, particularly within an on-line environment, where dropout rate is usually high.

Although the research suggests that the main causes of homelessness are classified in individual and structural factors, there are few scientific articles which evaluate the impact of structural factors such as unemployment during periods of economic recession. The objective of this study is to compare the evolution of the total rate of homelessness with the total rate of unemployment in the city of Girona (Catalonia) during the economical recession (2006-2016) and to determine if unemployment is a predictive factor of homelessness. This is the first study with a Catalan sample comparing unemployment and homelessness. The design was longitudinal, retrospective and observational. The correlation tests between unemployment and homelessness indicated strong connections in the combination of the sample (r = .914, p <.001), men (r = .924, p <.001), and women (r = .716, p = 0.013). The results of the different models of simple linear regression used to determine the predictor variables of homelessness indicate that the rise of global unemployment is a predictor variable of the rise of global homelessness (ß = 2.17, p = .002) and male homelessness (ß = .82, p <.001). However, it does not predict specific female homelessness (ß = .88, p =.68).