The impact of CEO compensation and CEO horizon on a firm's discretionary research and development expenditures

Agency costs are said to arise as a result of the separation of ownership from control inherent in the corporate form of ownership. One such agency problem concerns the potential variance between the time horizons of principal shareholders and agent managers. Agency theory suggests that these costs can be alleviated or controlled through performance-based Chief Executive Officer (CEO) contracting. However, components of a CEO's compensation contract can exacerbate or mitigate agency-related problems (Antle and Smith, 1985). According to the horizon hypothesis, a self-serving CEO reduces discretionary research and development (R&D) expenditures to increase earnings and earnings-based bonus compensation. Agency theorists contend that a CEO's market-based compensation component can mitigate horizon problems. This study seeks to determine whether there is a relationship between CEO earnings- and market-based compensation components and R&D expenditures in the largest United States industrial firms from 1987 to 1993.^ Consistent with the horizon hypothesis, results provide evidence of a negative and statistically significant relationship between CEO cash compensation (i.e., salary and bonus) and the firm's R&D expenditures. Consistent with the expectations of agency theory, results provide evidence of a positive and statistically significant relationship between market-based CEO compensation and R&D.^ Further results of this study provide evidence of a positive and statistically significant relationship between CEO tenure and the firm's R&D expenditures. Although there is a negative relationship between CEO age and the firm's R&D, it was not statistically significant at the 0.5 level. ^

A history of the presidency of National Taiwan University: The relationship between the university and an evolving democratic nation

Higher education always plays an important role in the development of a nation. Taiwan is no exception. Graduates of the National Taiwan University have occupied most of the important positions in this country and today many devote themselves to the development of Taiwan since the central government of the Republic of China (ROC) withdrew from Mainland China and re-located to Taiwan in the winter of 1949. The higher education system in Taiwan, including university and junior colleges, received special attention from the government except from 1945 to 1949 during the transitional period; the time of the early restoration year and the central government's retreating period from Mainland China.^ The five presidents of National Taiwan University who served from 1949 to 1993, Fu Szu-nien, Chien Seu-liang, Yen Chen-Hsing, Yu Chao-chung, and Sun Chen, are the subject of this research. All of the presidents were appointed by the government which established a direct connection between the government and the university leadership. The purpose of this study is to understand how each president balanced politically assigned roles and expectations with personal visionary academic responsiveness to the principles which define the university.^ Each president and his tenure were analyzed using historical research, a developed leadership model, an integration of role theory, Locke's leadership model, Wiles and Bondi curriculum leader tasks, and Burn's leadership style. Results of analyses of documents showed that all presidents of the National Taiwan University were highly respected due to their academic background, personal characteristics, and contribution to the university as a leader. Meanwhile, implementation and achievement of the presidents led to the conclusion that appointed university presidents had significant relationships with government policy. Their leadership style was affected strongly by their personal traits and knowledge and the social and political climate of the time. ^

Clash of identities in South Florida: An examination of the complexity of racial and national identity and their impact on ethnic solidarity between black Americans and Jamaicans

Immigrants from the West Indies and other nations challenge the simple United States dichotomy of blacks versus whites. Many apparently black Caribbean immigrants proclaim that they did not know they were “black” until they arrived in the U.S. They seek to maintain their national identity and resist identity and solidarity with Black Americans. In response, many Black Americans respond that the immigrants are simply being naive, that U.S. society demands simple racial identity. Regardless of one's self-identity and personal history, in the U.S., if you look black, you are black, was their thinking. ^ This study examines the contemporary struggle of identity and solidarity among and between Black Americans and Jamaicans living in South Florida (Broward and Miami-Dade counties). Even though the primary focus of this study is to examine the relationship between Black Americans and Jamaicans, other West Indian nationals will be addressed more generally. The primary research problem of this study is to determine why the existence of common ancestry and physical traits are insufficient for an assumption of ethnic solidarity between Black Americans and Jamaicans. ^ In examining this problem, I felt that depth rather than breadth would provide insight into the current state of polarization between Black Americans and Jamaicans. To this end, a qualitative study was designed. A non-random snowball sample consisting of forty-seven informants was selected for this study. Realizing that such a technique presents problems with generalizations beyond the sample, this approach was, nonetheless, the most suitable for the current research problem. One of the initial challenges of this research was the use of the label “black” in discussing Caribbean immigrants. Unlike America, where distinctions based on skin color were at the bedrock of America's formation, this was not the case in the Caribbean. In the Caribbean skin color was an important marker as an indicator of class, rather than of race. Therefore, I refrained from using the label, “black Jamaicans,” but rather used Jamaicans throughout. ^

On the fundamentals of research and development (R&D) spillovers in competitive markets

Rivals may voluntarily share Research and Development (R&D) results even in the absence of any binding agreements or collusion. In a model where rival firms engage in non-cooperative independent R&D process, we used optimization and game theory analysis to study the equilibrium strategy of the firms. Our work showed that, while minimal spillover is always equilibrium, there may be another equilibrium where firms may reciprocally choose high, sometimes perfect, spillover rates. The incentive for sharing R&D output is based on firms' expectations of learning from their rivals' R&D progress in the future. This leads to strategic complementarities between the firms' choices of spillover rates and thus policy implication follows. ^ Public research agencies can contribute more to social welfare by providing research as public goods. In a non-cooperative public-private research relationship where parallel R&D is conducted, by making its R&D results accessible, the public research agency can stimulate private spillovers, even if there exists rivalry among the private firms who can benefit from such spillovers. ^

Intercollegiate athletics and college rankings: An analysis of the relationship between athletic success and the U.S. News and World Report college rankings

The purpose of this study was to gain a greater understanding of the relationship between athletic success of football and men's basketball and the U.S. News and World Report (USNWR) college rankings. There has been consistent debate among researchers who study institutional quality about whether intercollegiate athletics enhances reputation. This study is similar to other studies attempting to measure the relationship between athletic success and possible indirect benefits to the university from athletics, such as increased admissions applications and increased alumni donations and giving. This study offered a more nuanced model for measuring athletic success, a concept that has been difficult to measure quantitatively. The method used here also measured change over time (in this case, from year-to-year over an eleven year period). The research questions for this study were (a) is there a correlation between athletic success and the USNWR college ranking; and (b) is there a correlation in the change from year-to-year in athletic success with the change from year-to-year in the USNWR college rankings? Spearman Rho correlation and ANOVA tests were used to answer these research questions. The results from the statistical tests demonstrated little correlation between athletic success, whether in football or men's basketball, with the USNWR college rankings. Although the relationships were weak, men's basketball success consistently demonstrated a stronger relationship than football success. This finding differed from what is most often found in the literature, which often favors football success. The ANOVA test results did reveal some results that suggest athletic participation is a factor in the USNWR college rankings. As the debate continues about whether intercollegiate athletics enhances reputation, and as colleges and universities continue spending enormously on athletics, a keener understanding about the possible indirect benefits to the university from athletic programs is needed. The "advertising" provided by spectator sports such as football and men's basketball is often assumed by university leaders to present substantial indirect benefits for the university. However, the existing research along with this study provides little evidence of such opportunities.

The relationship between classroom interactions and exclusionary discipline as a social practice: A critical microethnograhy

Exclusionary school discipline results in students being removed from classrooms as a consequence of their disruptive behavior and may lead to subsequent suspension and/or expulsion. Literature documents that nondominant students, particularly Black males, are disproportionately impacted by exclusionary discipline, to the point that researchers from a variety of critical perspectives consider exclusionary school discipline an oppressive educational practice and condition. Little or no research examines specific teacher-student social interactions within classrooms that influence teachers’ decisions to use or not use exclusionary discipline. Therefore, this study set forth the central research question: In relation to classroom interactions in alternative education settings, what accounts for teachers’ use or non-use of exclusionary discipline with students? A critical social practice theory of learning served as the framework for exploring this question, and a critical microethnographic methodology informed the data collection and analysis. ^ Criterion sampling was used to select four classrooms in the same alternative education school with two teachers who frequently and two who rarely used exclusionary discipline. Nine stages of data collection and reconstructive data analysis were conducted. Data collection involved video recorded classroom observations, digitally recorded interviews of teachers and students discussing selected video segments, and individual teacher interviews. Reconstructive data analysis procedures involved hermeneutic inferencing of possible underlying meanings, critical discourse analysis, interactive power analysis and role analysis, thematic analysis of the interactions in each classroom, and a final comparative analysis of the four classrooms. ^ Four predominant themes of social interaction (resistance, conformism, accommodation, and negotiation) emerged with terminology adapted from Giroux’s (2001) theory of resistance in education and Third Space theory (Gutiérrez, 2008). Four types of power (normative, coercive, interactively established contracts, and charm), based on Carspecken’s (1996) typology, were found in the interactions between teacher and students in varying degrees for different purposes. ^ This research contributes to the knowledge base on teacher-student classroom interactions, specifically in relation to exclusionary discipline. Understanding how the themes and varying power relations influence their decisions and actions may enable teachers to reduce use of exclusionary discipline and remain focused on positive teacher-student academic interactions. ^

Through the prisms of gender and power: Agency in international courtship between Colombian women and American men

Since 1999 Colombia has experienced dramatic increases in emigration, particularly the emigration of women towards the U.S. as fiancées of U.S. citizens or residents. Parallel to this trend is the increased number of websites facilitating these Colombian-American matches. This dissertation investigates the agency of Colombian women and American men who pursue romantic courtship through the services of International Marriage Brokers (IMBs) from the “Gendered Geographies of Power” (GGP) framework of analysis. It examines how both groups’ social locations, their positioning in multiple axes of differentiation including gender, nationality and social class, affects how and why they exert their agency across and within different geographic scales. Most importantly, it investigates the role the imagination plays (imagination work) in both men and women’s agency, an aspect of the GGP framework that has been under-researched and theorized to date. The research also finds that this imagination work is promoted and cultivated in deeply gendered ways by IMBs seeking to profit off this transnational courtship. ^ Employing data collected via interviews and content analysis of IMBs’ websites, the dissertation analyzes comparatively the expectations each group (women, men and IMBs) bring to their imagination work and experiences of the courtship marketplace. A central question posed and answered in the dissertation is “What do women and men courting each other in cyberspace seek and do they find it?” The dissertation finds that the men seek “traditional” women and the women seek “liberated” less “macho” men. Ironically, the men find Colombian women who are among the most “liberated” women in their homeland but who downplay this aspect of themselves in order to strategically find a more modern man and migrate abroad where they expect to find greater personal and professional opportunities.^

The relationship between spirituality, knowledge and tuberculosis (TB) medication adherence among African Americans and Haitians

Tuberculosis (TB) is an infectious disease and nonadherence to medication can lead to new cases, multi-drug resistant TB, or potential death. Additionally, healthcare professionals and individuals with TB’s knowledge of the disease and medication adherence are crucial for successful completion of medication therapy. Patient education is one of the most important aspects of care provided in healthcare settings (CDC, 1994). TB tends to disproportionately affect minority and economically disadvantaged patient populations. The purpose of this mixed method study was to explore the relationship between spirituality, knowledge, and TB medication adherence among African Americans and Haitians. The primary research question was: What is the relationship between spirituality, knowledge and TB medication adherence among African Americans and Haitians? Quantitative data were gathered from 33 questionnaires and analyzed by two ANOVAs and four chi square analyses. The null hypothesis was not rejected; there was not a statistically significant relationship between spirituality and TB medication adherence (p =.208) among the study’s African Americans and Haitians. Qualitative data concerning participants’ knowledge of TB, gathered from 16 individual interviews further informed this analysis. Secondary research questions examined the role of spirituality, knowledge of TB and medication adherence among African Americans and Haitians. Four common themes emerged across both groups to answer the secondary research questions. Interviews revealed the themes: (a) God is in control, (b) stigmatization of TB, (c) lack of knowledge, and (d) fear of death. The theme lack of knowledge about TB was found to contribute to stigmatization of TB patients. However, in this study stigma and lack of knowledge were related to initial denial of symptoms and delayed diagnosis, but not found to be related to TB medication adherence. This study could help adult educators and health educators enhance their educational interventions, develop a better understanding of adult learning, resulting in early diagnosis and treatment ultimately decreasing transmission of TB, drug resistance, and potential death. Educators should be aware that TB patients’ spirituality may be an important part of how they cope with having TB. A larger scale study, conducted at multiple locations should be conducted to extend the findings of this small scale exploratory study. Further studies should be done to better determine what patient, healthcare provider and health care system factors might mediate relationships that may exist between lack of knowledge of TB, stigma and TB medication adherence.

The relationship between prekindergarten social and emotional development and academic success among Hispanic children from low-income families

Social and emotional development has been considered an important factor in child development which has been placed at the end of the learning spectrum due to high stakes testing. Social and emotional development consists of the relationships an individual has with others, the level of self-control, and the motivation and perseverance a person has during an activity (Bandura, 1989). This study examined the relationship between Hispanic children’s prekindergarten social and emotional development and their academic success. Hispanic children from a large southeastern city whose parents were receiving subsidized child-care were followed from their prekindergarten year through third grade (N=1,978). Several hierarchical regressions were run to determine the relationship between children’s social and emotional development, during their prekindergarten year using the DECA (Devereaux Early Childhood Assessment), and the their academic success, as measured by kindergarten through third grade end of the year reading and mathematics academic grades, second grade SAT (Stanford Achievement Test) scores, and third grade FCAT (Florida Comprehensive Assessment Test) and NRT (Norm Referenced Test) scores. Hierarchical regressions were conducted for each grade and subject in order to control for demographics and prior achievement. The results of this study revealed that for Hispanic children from low-income families, the best predictor for academic success was the children’s prior academic achievement. Social and emotional development showed no significant predictive value for the third grade criterion variables as well as end of the year academic grades in second grade and kindergarten reading. Evidence did suggest that for first grade end of the year academic grades and kindergarten math, social and emotional development had a small predictive value. Further research must be conducted as to why social and emotional development, after controlling for demographics and previous academic achievement, bears such a small predictive value when it is clear that many professionals feel it is the most important factor for school readiness.

Secondary school inclusion rates: The relationship between the training and beliefs of school site principals and the implementation of inclusion

Programs require strong support and guidance from those in leadership positions to ensure proper implementation (Fullen, 2001). Consequently, school site principals must rely on the training they have received to support them in making appropriate decisions. It is the school site principal’s leadership that is pivotal in the success of students with disabilities (DiPaola & Walther-Thomas, 2003; Monteith, 2000). In fact, the principal has a moral obligation to provide an environment that supports social justice in schools (Grogan & Andrews, 2002). The inclusion of students with disabilities does just that—it ensures that these students are not segregated to a “separate but equal” education. This study utilized a participant survey to collect data on principals’ beliefs and training in special education. This information was compared to the percentage of time students with disabilities spent with their non-disabled peers in the principals’ respective schools. An analysis was conducted to identify if a linear relationship exists between the selected variables and the inclusion percentages. Open-ended questions were included in the original survey which allowed for a thematic analysis of the responses. These responses were utilized to allow participants to further express their thoughts on the identified variables. Results indicated that there were no statistically significant relationships identified between the beliefs and training of secondary school site principals and the percentage of time that their students in special education spend with their non-disabled peers. Although the original research questions were not supported, further post hoc analysis indicated that the results obtained did support that the principals believed inclusion had a social benefit to students. Additional investigation into the academic benefits of inclusion is still needed. In addition, principals who indicated that they had some type of training in special education indicated a higher percentage that the individual student should be the focal point when making placement decisions. These results support the need for further research in the area of principal preparation programs and their relationships to the daily practice of school site principals.

A study of the relationship between educational placement and the achievement of urban low socioeconomic Hispanic middle school students with and without specific learning disabilities

Public schools traditionally have been held accountable for educating the majority of the nation’s school children, and through the years, these schools have been evaluated in a variety of ways. Currently, evaluation measures for accountability purposes consist solely of standardized test scores. In the past, only test scores of general education students were analyzed. Laws governing the education of students with disabilities, however, have extended accountability measures not only to include those students, but to report their scores in a disaggregated form (No Child Left Behind Act, 2001). The recent emphasis on accountability and compliance has resulted in the need for schools to carefully examine how programs, services, and policies impact student achievement (Bowers & Figgers, 2003). ^ Standard-based school reform and accountability systems have raised expectations about student learning outcomes for all students, including those with disabilities and minority students. Yet, overall, racial/ethnic minority students are performing well below their White non-Hispanic peers in most academic areas. Additionally, with respect to special education, there exists an enduring problem of disproportionate representation of racial/ethnic minority students (National Research Council, 2000). ^ This study examined classroom placement (inclusive versus non-inclusive) relative to academic performance of urban, low socioeconomic Hispanic students with and without disabilities in secondary content area classrooms. A mixed method research design was used to investigate this important issue using data from a local school district and results from field observations. The study compared performance levels of four middle school Hispanic student subgroups (students with disabilities in inclusive settings, students without disabilities in inclusive settings, students with disabilities in resource settings, and student without disabilities in general education settings) each in their respective placements for two consecutive years, exploring existing practices within authentic settings. ^ Significant differences were found in the relationship of educational placement and achievement between grade level and disability in the areas of math and reading. Additionally, clear and important differences were observed in student-teacher interactions. Recommendations for further researchers and stakeholders include soliciting responses from teams at the schools composed of general education and special education teachers, administrative personnel, and students as well as broadening the study across grade levels and exceptionalities. ^

An investigation of the relationships between selected characteristics and leadership outcomes of Athletic Training Education Program directors

There is currently no evidence describing what characteristics make an Athletic Training Program Director (PD) an effective leader. An influx of accredited programs resulted in a rapid increase in the demand for PDs, yet training and preparation for these positions has failed to evolve. Although Certified Athletic Trainers (ATs) are trained in specific content areas, they may not always be prepared for the administrative and leadership responsibilities associated with the role of PD (Leone, 2008). This dissertation examined the relationships between selected characteristics and leadership outcomes of Athletic Training Program Directors. Each PD participants (n=27) completed a demographic questionnaire to obtain the leader's academic preparation, accreditation experience and leadership training history. Each participant also completed the Multifactor Leadership Questionnaire (MLQ) to obtain leadership styles, behaviors, and outcomes. Overall, the PDs reported utilizing transformational leadership most often and passive avoidant leadership least often. There was no significant difference between PDs with master's and doctorate degrees on overall leadership outcome. However, participants with a doctorate degree scored significantly different on the effectiveness component of the leadership outcome compared with participants with a master's degree. Those participants who have completed academic coursework on leadership scored significantly different on the leadership outcome compared to those who have not completed academic coursework on leadership. Findings from this study indicate that changes to the current requirements for the role of PD may be warranted. Consideration should be given to increasing the minimum degree requirement and requiring academic coursework on leadership. Future research may be useful in determining specific degree guidelines and types and amounts of leadership training that would be beneficial to Athletic Training PDs.

Metaphor: The Hidden Link between Visual Literacy and Learning

Visual Thinking Strategies (VTS) have been proven to enhance learning abilities in children. This study will examine how the use of metaphor might affect the development of fourth graders’ verbal and written abilities at three schools in the Miami-Dade County Public School system.

The Relationship between Civic Engagement and Health among Older Adults

This paper explores the relationship between civic engagement and health among older adults. As the U.S. population ages and people are living longer in the retirement phase, practitioners need to provide programs of growth and development for this population.