Director independence or decision bias? An investigation of alternative sources of agency costs in board decision making

Research into boards traditionally focuses on independent monitoring of management, with studies focused on the effect of board independence on firm performance. This thesis aims to broaden the research tradition by consolidating prior research and investigating how agents may circumvent independent monitoring. Meta-analysis of previous board independence-firm performance studies indicated no systematic relationship between board independence and firm performance. Next, a series of experiments demonstrated that the presentation of recommendations to directors may bias decision making irrespective of other information presented and the independence of the decision maker. Together, results suggest that independence may be less important than the agent's motivation to misdirect the monitoring process.

Practical Algorithms For Mean Velocity Estimation In Pulse Doppler Weather Radars Using A Small Number Of Samples

Doppler weather radars with fast scanning rates must estimate spectral moments based on a small number of echo samples. This paper concerns the estimation of mean Doppler velocity in a coherent radar using a short complex time series. Specific results are presented based on 16 samples. A wide range of signal-to-noise ratios are considered, and attention is given to ease of implementation. It is shown that FFT estimators fare poorly in low SNR and/or high spectrum-width situations. Several variants of a vector pulse-pair processor are postulated and an algorithm is developed for the resolution of phase angle ambiguity. This processor is found to be better than conventional processors at very low SNR values. A feasible approximation to the maximum entropy estimator is derived as well as a technique utilizing the maximization of the periodogram. It is found that a vector pulse-pair processor operating with four lags for clear air observation and a single lag (pulse-pair mode) for storm observation may be a good way to estimate Doppler velocities over the entire gamut of weather phenomena.

In the Shadow of Freedom : Life on board the oil tanker

The aim of this study was to look at the freedom of ordinary people as they construct it. The scope, however, was limited to contemporary Finnish sailors and their freedom discourses. The study belongs to the field of the anthropology of religions, which is part of comparative religion. Worldview, which is one of the key concepts in comparative religion, provided the broader theoretical basis of the study. The data consisted of 92 interviews with Finnish professional seafarers conducted in 1996, 1999, 2000 and 2005, field journals that were written during two periods of fieldwork in 1996 and 1999-2000, and correspondence with some of the seafarers during 1999-2005. The analysis process incorporated new rhetoric and metaphor theory. The thesis is in three parts. The first part discusses the methodological challenges of this type of ethnography, the second an ethnography of modern Finnish shipworld focuses on work, organization, hierarchy and gender, and the third part discusses the freedom concepts of seafarers. It was found that seafarers use two kinds of freedom discourse. The first is in line with the stereotypical Jack Tar, a free-roving sailor who is not bound to land and its mundane routines, and the second views shipworld as freedom from freedom, meaning one is not responsible for one s own actions because one is not free to make a choice. It was also found that seafarers are well aware of the stereotypical images that are attached to their profession: they not only deny them, but also utilize, reflect on and construct them.

Effective Use in Livestock Feeds of Mouldy and Weather-damaged Grain Containing Mycotoxins-Case Histories and Economic Assessments Pertaining to Pig and Poultry Industries of Queensland

Mould growth in field crops or stored grain reduces starch and lipid content, with consequent increases in fibre, and an overall reduction in digestible energy; palatability is often adversely affected. If these factors are allowed for, and mycotoxin concentrations are low, there are sound economic reasons for using this cheaper grain. Mycotoxins are common in stock feed but their effects on animal productivity are usually slight because either the concentration is too low or the animal is tolerant to the toxin. In Australia, aflatoxins occur in peanut by-products and in maize and sorghum if the grain is moist when stored. Zearalenone is found in maize and in sorghum and wheat in wetter regions. Nivalenol and deoxynivalenol are found in maize and wheat but at concentrations that rarely affect pigs, with chickens and cattle being even more tolerant. Other mycotoxins including cyclopiazonic acid, T-2 toxin, cytochalasins and tenuazonic acid are produced by Australian fungi in culture but are not found to be significant grain contaminants. Extremely mouldy sorghum containing Alternaria and Fusarium mycotoxins decreased feed conversion in pigs and chickens by up to 14%. However, E moniliforme- and Diplodia maydis-infected maize produced only slight reductions in feed intake by pigs and Ustilago- infected barley produced no ill effects. Use of these grains would substantially increase profits if the grain can be purchased cheaply.

The mycotoxins 4-deoxynivalenol, zearalenone and aflatoxin in weather-damaged wheat harvested 1983-1985 in south-east Queensland

A survey for various mycotoxins was carried out on samples of all wheat delivered to nine storage and marketing depots in south-eastern Queensland, selected as most likely to receive mycotoxin-contaminated grain. All wheat was surveyed during 1983, when the degree of weather damage was high. Samples of the poorest grade of wheat from these depots were also surveyed in 1984 and 1985. The surveys included all regions where head scab of wheat caused by Fusariurn graminearurn Schwabe Group 2 had been reported to occur at significant levels. 4-Deoxynivalenol was detected in nearly all pooled samples representing bulk wheat at concentrations ranging from traces of <0.01 up to 1.7 mg kg-1. The highest concentration of zearlenone detected in a pooled wheat sample was 0.04 mg kg-1. In a few samples representing individual wheat deliveries and with up to 2.8% by weight of pink grains, 4-deoxynivalenol concentrations ranged up to 11.7 mg kg-' and zearalenone up to 0.43 mg kg-l. Aflatoxins B,, B2, G1 and G2 were detected in only one pooled sample of wheat, at a total aflatoxin concentration of 0.003 mg kg-'. Ochratoxin A, sterigmatocystin and T-2 toxin were not detected. Higher concentrations of mycotoxins were found in the poorer grades of wheat.

Two Methods of Ambiguity Resolution in Pulse Doppler Weather Radars

A comparison is made of the performance of a weather Doppler radar with a staggered pulse repetition time and a radar with a random (but known) phase. As a standard for this comparison, the specifications of the forthcoming next generation weather radar (NEXRAD) are used. A statistical analysis of the spectral momentestimates for the staggered scheme is developed, and a theoretical expression for the signal-to-noise ratio due to recohering-filteringrecohering for the random phase radar is obtained. Algorithms for assignment of correct ranges to pertinent spectral moments for both techniques are presented.

Numerical studies of gypsum plasterboard and MGO board lined LSF walls exposed to fire

Fire resistance of cold-formed light gauge steel frame (LSF) wall systems is enhanced by lining them with single or multiple layers of wall boards with varying thermal properties. These wall boards are gypsum plasterboards or Magnesium Oxide (MgO) boards produced by different manufacturers. Thermal properties of these boards appear to show considerable variations and this can lead to varying fire resistance levels (FRL) for their wall systems. Currently FRLs of wall systems are determined using full scale fire tests, but they are time consuming and expensive. Recent research studies on the fire performance of LSF wall systems have used finite element studies to overcome this problem, but they were developed based on 1-D and 2-D finite element platform capable of performing either heat transfer or structural analysis separately. Hence in this research a 3-D finite element model was developed first for LSF walls lined with gypsum plasterboard and cavity insulation materials. Accurate thermal properties of these boards are essential for finite element modelling, and thus they were measured at both ambient and elevated temperatures. This experimental study included specific heat, relative density and thermal conductivity of boards. The developed 3-D finite element model was then validated using the available fire tests results of LSF walls lined with gypsum plasterboard, and is being used to investigate the fire performance of different LSF wall configurations. The tested MgO board exhibited significant variations in their thermal properties in comparison to gypsum plasterboards with about 50% loss of its initial mass at about 500 ºC compared to 16% for gypsum plasterboards. Hence the FRL of MgO board lined LSF wall systems is likely to be significantly reduced. This paper presents the details of this research study on the fire performance of LSF wall systems lined with gypsum plasterboard and MgO board including the developed 3-D finite element models, thermal property tests and the results.

Walter Gottschalk and Fritz Gottschalk (Papa) saying goodbye to Elizabeth and Hans Krakauer who are on board the ship Koenigstein leaving to emigrate to America; Antwerp, Belgium.

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Unidentified man, Elizabeth Krakauer nee Gottschalk and Hans Krakauer on board the ship Koenigstein traveling from Antwerp to New York City on their emigration voyage from Germany.

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Herman Sommerfeld with unidentifed men and women on board a ship from Tallin to Helsinki (and on to the United States) Portraits Groups

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Walter Gottschalk and Fritz Gottschalk (Papa) saying goodbye to Elizabeth and Hans Krakauer who are on board the ship Koenigstein leaving to emigrate to America; Antwerp, Belgium.

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Unidentified man, Elizabeth Krakauer nee Gottschalk and Hans Krakauer on board the ship Koenigstein traveling from Antwerp to New York City on their emigration voyage from Germany.

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Mathias family preparing to board the ship "Deutschland" to emigrate from Germany to New York Portraits; Family

On January 6, 1938 our family left Nazi Germany and boarded a ship "Deutschland" for New York. This ended our family's life in Germany forever. Rudolph ES Mathias.