Digital Commons Network^™

The Relationship Between Governance Structure And Risk Management Approaches In Japanese Venture Capital Firms, Toru Yoshikawa, Phillip H. Phan, Jonathan Linton

Research Collection Lee Kong Chian School Of Business

This paper attempts to understand what drives Japanese venture capital (JVC) fund managers to select either active managerial monitoring or portfolio diversification to manage their firms' investment risks [J. Bus. Venturing 4 (1989) 231]. Unlike U.S. venture capitalists that use active managerial monitoring to gain private information in order to maximize returns [J. Finance 50 (1995) 301], JVCs have traditionally used portfolio diversification to attenuate investment risks [Hamada, Y., 2001. Nihon no Bencha Kyapitaru no Genkyo (Current State of Japanese Venture Capital), Nihon Bencha Gakkai VC Seminar, May 7]. We found that performance pay is positively related to active monitoring …

The Impact Of Regulation Fair Disclosure On Information Asymmetry And Trading: An Intraday Analysis, Chiraphol N. Chiyachantana, Christine X. Jiang, Nareerat Taechapiroontong, Robert A. Wood

Research Collection Lee Kong Chian School Of Business

This study examines the impact of Regulation Fair Disclosure (FD) on liquidity, information asymmetry, and institutional and retail investors trading behavior. Our main findings suggest three conclusions. First, Regulation FD has been effective in improving liquidity and in decreasing the level of information asymmetry. Second, retail trading activity increases dramatically after earnings announcements but there is a significant decline in institutional trading surrounding earnings announcements, particularly in the pre‐announcement period. Last, the decline in information asymmetry around earnings announcements is closely associated with a lower participation rate in the pre‐announcement period and more active trading of retail investors after earnings …

Watching The Shop From The Front Seat: Determinants Of Venture Capitalists' Representation On The Board, Reddi Kotha, Eli Talmor

Research Collection Lee Kong Chian School Of Business

Oversight and involvement are essential for a venture capital firm to influence the destiny of the portfolio company. This paper focuses primarily on the venture capital firm’s decision to take a formal responsibility through joining the board. Our study uses a large sample of private British companies that received institutional investment between 1999 and 2002. We examine the determinants of board composition and board size. Contrary to common belief, only 30 % of the companies have any institutional investor (a “VC”) on board. The decision to take a formal board seat is based on the ability to make a contribution: …

Reflection : Journals And Reflective Questions : A Strategy For Professional Learning, Maggie Clarke

Australian Journal of Teacher Education

Reflective journals have been used widely in teacher education programs to promote reflective thinking (Freidus, 1998; Carter & Francis, 2000; Yost, Senter & Forlenzo-Bailey, 2000). Smyth (1992) advocated that posing a series of questions to be answered in written journals could enhance reflective thinking. It was for this reason that reflective responses to directed questions were introduced in 2002 and subsequently in 2003 in the Bachelor of Education 4th year primary internship program at the University of Western Sydney, Australia. The internship program provided a sustained ten-week period of time in a school that afforded student teachers the opportunity to …

Towards Optimal Student Engagement In Teacher Education, Laurie Brady

Australian Journal of Teacher Education

This article, written by a teacher educator who won an AUTC National Teaching Award in 2003, focuses on the strategies that might be used in teacher education programs as distinct from addressing subject matter concerns. Endorsing the need for optimal engagement, the article posits a model combining student centred learning (arguing that some strategies by their very nature require greater degrees of student exploration and interaction); problematic and situated learning which finds an ideal expression in case method; and more far reaching expressions of field -based experience including team teaching on site, mentoring and community based professional development

Creating A Distributed Field Robot Architecture For Multiple Robots, Matthew T. Long

USF Tampa Graduate Theses and Dissertations

This thesis describes the design and implementation of a distributed robot architecture, Distributed Field Robot Architecture. The approach taken in this thesis is threefold. First, the distributed architecture builds on existing hybrid deliberative/reactive architectures used for individual robots rather than creating a distributed architecture that requires re-engineering of existing robots. Second, the distributed layer of the architecture incorporates concepts from artificial intelligence and software agents. Third, the architecture is designed around Suns Jini middleware layer, rather than creating a middleware layer from scratch or attempting to adapt a software agent architecture. This thesis makes three primary contributions, both theoretical and …

Medieval Church Norms And Fiduciary Duties In Partnership, Dennis J. Callahan

Cardozo Law Review

No abstract provided.

The Mormon Hive: A Study Of The Bee And Beehive Symbols In Nineteenth Century Mormon Culture, J. Michael Hunter

Faculty Publications

From antiquity to the middle of the eighteenth century, humans used the bee and beehive symbols to represent monarchy. Political and social changes resulted in a reinterpretation of the bee and beehive symbols during the eighteenth century. Republicans ignored the royalist associations of bees and beehives, and used them to represent values of the new republicanism. In nineteenth-century America, the Mormons, members of The Church of Jesus Christ of Latter-day Saints, encountered the bee and beehive symbols while participating in the rites of Freemasonry. In the nineteenth century, Mormons used the bee and beehive symbols to represent the Kingdom of …

Volume 29, No. 3

The Weldon Times

A student-run newspaper published at the School of Law at Dalhousie University.

Editors: Shawn Tock, Jonathon Krashinsky, Michael Schalke, Nate Russell

Photo Editor: Mark Dunsmuir

Grants Mainstreet Project Leakage Study, Jeffrey Mitchell

BBER Publications

This study has two main objectives: 1) to evaluate the strengths and weaknesses of the retail and services sectors in Grants, and 2) to consider ways to improve conditions faced by businesses in the communitys downtown. The economy of Grants (or any other community) can be understood in terms of its exchange of goods and services with other areas. To the extent that businesses based in Grants sell goods and services to consumers from other areas, money flows into the economy and creates growth. Conversely, to the extent that consumers in Grants buy goods and services from elsewhere, money is …

The Economic Importance Of The Arts And Cultural Industries In Santa Fe County, Lee A. Reynis, Jeffrey Mitchell

BBER Publications

The McCune Charitable Foundation commissioned the UNM Bureau of Business and Economic Research (BBER) to conduct a three-part study of the arts and cultural industries (ACI) of Santa Fe, New Mexico. Part 1 of the study is a quantitative analysis of the ACI's impact on the economy of Santa Fe County; BBER researchers input county employment and wage data into a model using Implan Pro 2.0. The second part is a qualitative analysis of the relationships between the ACI and the various other sectors of the community. To investigate these dynamics, BBER interviewed nearly 100 ACI and community members. The …

Corporate Governance In The Era Of Sarbanes-Oxley, Larry W. Ettner

Student Scholarship

In July 2002, Congress passed the Sarbanes-Oxley Act, which mandated that public corporations substantially change their corporate governance practices. Sarbanes-Oxley was the result of egregious practice of corporations, directors, officers, and advisors, which resulted in billions of investor dollars being misappropriated and lost. Substantial corporate resources are being expended to comply with the intended (statutory) consequences of the Act. Within the framework of stockholder theory, the historic CEO-centric model of governance is being replaced by the independent director-centric model (post Sarbanes-Oxley). As a consequence of Sarbanes-Oxley, its foundational requirement of agency theory application advances an adversarial model of distrust. The …

Low Entrepreneurship Activities Among The African-Americans Who Live In The Cleveland Inner City, Daniel Musungu Oruoch

Student Scholarship

The paper discusses business activities in the inner city of Cleveland Ohio, with specific emphasis on business creation and ownership of the African Americans in this location. The paper enables the reader to understand why there has been a lag in the establishment of African American business in comparison to their population in the inner city. In the whole of Cuyahoga County there are 33,000 businesses which have paid employees but only 932 of these are owned by African Americans who constitute 51 per cent of the population, a paltry 2.8 per cent. In the Cleveland inner city, which is …

Introduction: Private Parties As Defendants In Civil Rights Litigation, Myriam Gilles

Cardozo Law Review

No abstract provided.

The Emerging Section 1983 Private Party Defense, Sheldon Nahmod

Cardozo Law Review

No abstract provided.

Price Considerations In The Market For Corporate Law, Michal Barzuza

Cardozo Law Review

No abstract provided.

Private Law And Public Stakes In European Integration: The Case Of Property, Daniela Caruso

Faculty Scholarship

In European legal discourse, the old public/private divide is experiencing a revival and a transformation. Member States used to claim autonomy in private law matters. Now private law is subsumed into a functionalist logic and can presumptively be harmonised if so demanded by the goal of market integration. States or local constituencies can only resist harmonisation by highlighting the connection between their private laws and those ‘public’ matters still immune from Europeanisation. Property law can effectively illustrate this phenomenon. The written pledge of non-interference with States’ property systems, restated both in the TEC and in the draft Constitution, cannot be …

Why Do Plaintiffs Sue Private Parties Under Section 1983, Jack M. Beermann

Faculty Scholarship

The subject of this article is why people make federal cases, under section 1983,' out of claims they have against private parties. Section 1983 provides a cause of action against "any person" who, while acting "under color of' state law, subjects or causes the plaintiff to be subjected to a violation of federal constitutional or statutory rights. The requirement that the defendant act under color of law means that the typical section 1983 claim is brought against state and local government officials or entities, not against private individuals or entities. However, there are situations in which a private party (i.e. …

La Ley De Concursos Mercantiles En México: Algunas Reflexiones A Cuatro Años De Su Entrada En Vigor [The New Bankruptcy Law In Mexico: Some Reflections Since Enacted 4 Years Ago], Armando R. Lopez-Velasco, Leonardo E. Torre Cepeda

School of Economics and Finance Faculty Publications

• La función de una ley de quiebras consiste en maximizar el valor de empresas que llegan a caer en situaciones de insolvencia. Su buen funcionamiento es esencial para la operación eficiente del mercado de crédito y, por ende, para el crecimiento y desarrollo sostenido de la economía.

• Una ley de quiebras debe ser modificada cuando se presentan, simultáneamente: (i) una restricción crediticia que impide que empresas potencialmente rentables reciban los fondos necesarios para financiar sus inversiones, (ii) retrasos en el cierre de empresas que deben ser liquidadas y (iii) costos elevados por retrasar la reorganización o liquidación de …

Comparison Of Auto-Adjusting And Fixed Level Continuous Positive Airway Pressure Therapy In Patients With Mild To Moderate Obstructive Sleep Apnoea Hypopnoea Syndrome, Geraldine Nolan

Masters

Obstructive Sleep Apnoea Hypopnoea syndrome (OSAHS) is a potentially serious medical disorder associated with increased morbidity and mortality. It is estimated to affect 4% of males and 2% of females between the ages of forty and sixty. Nasal continuous positive airway pressure (CPAP) is the first choice treatment for this condition and it is extremely effective at controlling OSAHS. However, not all patients can tolerate this therapy, in particular those within the mild to moderate category, and there are also many others who are unable to comply with the minimum usage requirements of at least four hours every night. A …

The Three Sisters At Illinois Wesleyan University, Leslie Boelter

News and Events (Discontinued Series)

No abstract provided.

Optimization Of Batch Reactions In Series With Uncertainty, Keith G. Tomazi

Chemical and Biochemical Engineering Faculty Research & Creative Works

Certain types of chemical reactions, such as the global deprotection of a polypeptide, are extremely complex. As a result, it may be very difficult or expensive to develop accurate models of these chemical reactions. Without a satisfactory kinetic model for the reaction, it is difficult to develop an optimum operating policy that will maximize the profit. Stochastic optimization is applied in this work to an example process step to obtain the optimum reaction temperature and reaction time. In the case of the "here and now" problem, the optimal conditions are a lower reaction temperature and a longer reaction time than …

A Review Of Antennas And Propagation For Mimo Wireless Communications, Michael A. Jensen, Jon W. Wallace

Faculty Publications

Multiple-input-multiple-output (MIMO) wireless systems use multiple antenna elements at transmit and receive to offer improved capacity over single antenna topologies in multipath channels. In such systems, the antenna properties as well as the multipath channel characteristics play a key role in determining communication performance. This paper reviews recent research findings concerning antennas and propagation in MIMO systems. Issues considered include channel capacity computation, channel measurement and modeling approaches, and the impact of antenna element properties and array configuration on system performance. Throughout the discussion, outstanding research questions in these areas are highlighted.

How Cellular Movement Determines The Collective Force Generated By The Dictyostelium Discoideum Slug, J. C. Dallon, H. G. Othmer

Faculty Publications

How the collective motion of cells in a biological tissue originates in the behavior of a collection of individuals, each of which responds to the chemical and mechanical signals it receives from neighbors, is still poorly understood. Here we study this question for a particular system, the slug stage of the cellular slime mold Dictyostelium discoideum. We investigate how cells in the interior of a migrating slug can effectively transmit stress to the substrate and thereby contribute to the overall motive force. Theoretical analysis suggests necessary conditions on the behavior of individual cells, and computational results shed light on experimental …

Wglt Program Guide, November-December, 2004, Illinois State University

WGLT Program Guides

This guide details programming for WGLT, a public radio station owned by Illinois State University.

V.6-1, 2004 Masthead

San Diego International Law Journal

No abstract provided.

Recollections Of The 1952 International North Pacific Fisheries Convention: The Decline Of The Principle Of Abstention, Shigeru Oda

San Diego International Law Journal

Having recently completed twenty-seven years on the bench of the International Court of Justice in The Hague, I have just returned to Sendai, Japan, my home town. Please permit me therefore to offer some personal recollections of the time fifty years ago when, as a graduate law student from occupied Japan traveling on a passport issued by General MacArthur, Supreme Commander of the Allied Powers in Japan, I began preparation of my doctoral dissertation at Yale Law School.

Scientific Cooperation In The North Pacific: The Pices Project, Warren S. Wooster, Sara F. Tjossem

San Diego International Law Journal

While individuals carry out scientific research, their local, national, and international institutions also play an important role. This is particularly true in the case of marine science, where the vast scale and complexity of ocean resources demands not only cooperation among individuals and their institutions, but also an interdisciplinary approach that allows for interaction among fields such as physics and biology. Marine science also demands effective interaction between those who seek understanding of natural systems and their resources and those who wish to apply that understanding in utilizing those resources.

Multivariate Stochastic Volatility Models: Bayesian Estimation And Model Comparison, Jun Yu, Renate Meyer

Research Collection School Of Economics

In this paper we show that fully likelihood-based estimation and comparison of multivariate stochastic volatility (SV) models can be easily performed via a freely available Bayesian software called WinBUGS. Moreover, we introduce to the literature several new specifications which are natural extensions to certain existing models, one of which allows for time varying correlation coefficients. Ideas are illustrated by fitting, to a bivariate time series data of weekly exchange rates, nine multivariate SV models, including the specifications with Granger causality in volatility, time varying correlations, heavy-tailed error distributions, additive factor structure, and multiplicative factor structure. Empirical results suggest that the …

Asymmetric Response Of Volatility: Evidence From Stochastic Volatility Models And Realized Volatility, Jun Yu

Research Collection School Of Economics

This paper examines the asymmetric response of equity volatility to return shocks. We generalize the news impact function (NIF), originally introduced by Engle and Ng (1993) to study asymmetric volatility under the ARCH-type models, to be applicable to both stochastic volatility (SV) and ARCH-type models. Based on the generalized concept, we provide a unified framework to examine asymmetric properties of volatility. A new asymmetric volatility model, which nests both ARCH and SV models and at the same time allows for a more flexible NIF, is proposed. Empirical results based on daily index return data support the classical asymmetric SV model …