Separation of Control and Cash-Flow Rights of State Owned Listed Enterprises: Channels of Expropriation after the Discriminated Share Reform in China

Literature on agency problems arising between controlling and minority owners claim that separation of cash flow and control rights allows controllers to expropriate listed firms, and further that separation emerges when dual class shares or pyramiding corporate structures exist. Dual class share and pyramiding coexisted in listed companies of China until discriminated share reform was implemented in 2005. This paper presents a model of controller to expropriate behavior as well as empirical tests of expropriation via particular accounting items and pyramiding generated expropriation. Results show that expropriation is apparent for state controlled listed companies. While reforms have weakened the power to expropriate, separation remains and still generates expropriation. Size of expropriation is estimated to be 7 to 8 per cent of total asset at mean. If the "one share, one vote" principle were to be realized, asset inflation could be reduced by 13 percent.

Effect of control method on impedance-based interactions in a buck converter

All the interconnected regulated systems are prone to impedance-based interactions making them sensitive to instability and transient-performance degradation. The applied control method affects significantly the characteristics of the converter in terms of sensitivity to different impedance interactions. This paper provides for the first time the whole set of impedance-type internal parameters and the formulas according to which the interaction sensitivity can be fully explained and analyzed. The formulation given in this paper can be utilized equally either based on measured frequency responses or on predicted analytic transfer functions. Usually, the distributed dc-dc systems are constructed by using ready-made power modules without having thorough knowledge on the actual power-stage and control-system designs. As a consequence, the interaction characterization has to be based on the frequency responses measureable via the input and output terminals. A buck converter with four different control methods is experimentally characterized in frequency domain to demonstrate the effect of control method on the interaction sensitivity. The presented analytical models are used to explain the phenomena behind the changes in the interaction sensitivity.

Educational Project for the Teaching of Control of Electric Traction Drives

Electric vehicles constitute a multidisciplinary subject that involves disciplines such as automotive, mechanical, electrical and control engineering. Due to this multidisciplinary technical nature, practical teaching methodologies are of special relevance. Paradoxically, in the past, the training of engineers specializing in this area has lacked the practical component represented by field tests, due to the difficulty of accessing real systems. This paper presents an educational project specifically designed for the teaching and training of engineering students with different backgrounds and experience. The teaching methodology focuses on the topology of electric traction drives and their control. It includes two stages, a simulation computer model and a scaled laboratory workbench that comprises a traction electrical drive coupled to a vehicle emulator. With this equipment, the effectiveness of different traction control strategies can be analyzed from the point of view of energy efficiency, robustness, easiness of implementation and acoustic noise.

In silico detection of control signals: mRNA 3′-end-processing sequences in diverse species

We have investigated mRNA 3′-end-processing signals in each of six eukaryotic species (yeast, rice, arabidopsis, fruitfly, mouse, and human) through the analysis of more than 20,000 3′-expressed sequence tags. The use and conservation of the canonical AAUAAA element vary widely among the six species and are especially weak in plants and yeast. Even in the animal species, the AAUAAA signal does not appear to be as universal as indicated by previous studies. The abundance of single-base variants of AAUAAA correlates with their measured processing efficiencies. As found previously, the plant polyadenylation signals are more similar to those of yeast than to those of animals, with both common content and arrangement of the signal elements. In all species examined, the complete polyadenylation signal appears to consist of an aggregate of multiple elements. In light of these and previous results, we present a broadened concept of 3′-end-processing signals in which no single exact sequence element is universally required for processing. Rather, the total efficiency is a function of all elements and, importantly, an inefficient word in one element can be compensated for by strong words in other elements. These complex patterns indicate that effective tools to identify 3′-end-processing signals will require more than consensus sequence identification.

Family Influence and Psychological Ownership: The Mediating Effects of Control

The concept of psychological ownership (PO) has been increasingly researched in the last years. However, knowledge about the emergence of PO is still scarce. So far, no study has investigated the development of PO in the context of family firms. We aim to investigate the emergence of PO in that context by drawing on the family´s influence on the business as a decisive factor. We thereby elaborate on the effect of family influence on PO, mediated by non-family managers´ perceived control over the company.

Concentration of control in American industry.

Study initiated by the Research Dept. of the League for Industrial Democracy. cf.Pref.

Human factors aspects of the transfer of control from the automated highway system to the driver /

"July 1995."

The International dry-farming congress, containing: the official call of the seventh international session, and exposition, at Lethbridge, Alberta, October 19-26, 1912. The dry-farming congress--its history, its sims, its successes. The province of Alberta ... its resources, its development, its possibilities, and the agricultural and industrial districts of southern Alberta. Pub. by the Department of agriculture of the province of Alberta, and the Board of control, of the seventh International dry-farming congress.

Edited by Charles S. Hotchkiss.