914 resultados para CEO duality
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Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)
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Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)
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This research examines the impact of a CEO’s statements of aggressiveness on his or her organization’s competitive moves and subsequent performance. Hypotheses were developed based on previous work in Upper Echelon Theory and competitive dynamics. Based on this prior literature, it was hypothesized aggressive statements by CEOs will be associated with more aggressive organizations. It was also hypothesized these more aggressive organizations would display better performance than less aggressive organizations. A content analysis of letters to shareholders and trade publications was performed. This data was analyzed using multiple regression in SPSS 17 to test the hypotheses that aggressive statements by CEOs are associated with aggressive organizations and higher performance. Aggression scores for the content analysis were generated using the software package DICTION. The sample for the study was the organizations with the most revenue in two industries, automobile manufacturing and retailing. Data collection covered a five-year time span from 2003-2007, with performance data lagged one year. Control variables employed included CEO tenure, CEO background, organization size, and organization age. The findings indicate that CEO statements of aggressiveness do not significantly impact the competitive aggressiveness or the performance of their organizations. The implications of these findings are discussed and potential avenues for future research in the area are outlined.
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Catalysts containing 10%Co supported on CexZr1-xO2 (0 < x < 1) were applied to ethanol steam reforming reactions. The catalysts were characterized by Raman spectroscopy, XANES-H-2 and DRS-UV-Vis. The catalytic tests were conducted at 673, 773 and 873 K, with molar ratios of H2O:ethanol = 3:1. The ethanol conversion and H-2 selectivity were temperature dependent and the association of CeO2 with ZrO2 in the support led to show a low formation of CO, due to the higher mobility of oxygen. (C) 2012 Elsevier B.V. All rights reserved.
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Context. The angular diameter distances toward galaxy clusters can be determined with measurements of Sunyaev-Zel'dovich effect and X-ray surface brightness combined with the validity of the distance-duality relation, D-L(z)(1 + z)(2)/D-A(z) = 1, where D-L(z) and D-A(z) are, respectively, the luminosity and angular diameter distances. This combination enables us to probe galaxy cluster physics or even to test the validity of the distance-duality relation itself. Aims. We explore these possibilities based on two different, but complementary approaches. Firstly, in order to constrain the possible galaxy cluster morphologies, the validity of the distance-duality relation (DD relation) is assumed in the Lambda CDM framework (WMAP7). Secondly, by adopting a cosmological-model-independent test, we directly confront the angular diameters from galaxy clusters with two supernovae Ia (SNe Ia) subsamples (carefully chosen to coincide with the cluster positions). The influence of the different SNe Ia light-curve fitters in the previous analysis are also discussed. Methods. We assumed that eta is a function of the redshift parametrized by two different relations: eta(z) = 1 +eta(0)z, and eta(z) = 1 + eta(0)z/(1 + z), where eta(0) is a constant parameter quantifying the possible departure from the strict validity of the DD relation. In order to determine the probability density function (PDF) of eta(0), we considered the angular diameter distances from galaxy clusters recently studied by two different groups by assuming elliptical and spherical isothermal beta models and spherical non-isothermal beta model. The strict validity of the DD relation will occur only if the maximum value of eta(0) PDF is centered on eta(0) = 0. Results. For both approaches we find that the elliptical beta model agrees with the distance-duality relation, whereas the non-isothermal spherical description is, in the best scenario, only marginally compatible. We find that the two-light curve fitters (SALT2 and MLCS2K2) present a statistically significant conflict, and a joint analysis involving the different approaches suggests that clusters are endowed with an elliptical geometry as previously assumed. Conclusions. The statistical analysis presented here provides new evidence that the true geometry of clusters is elliptical. In principle, it is remarkable that a local property such as the geometry of galaxy clusters might be constrained by a global argument like the one provided by the cosmological distance-duality relation.
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If a scalar eld theory in (1+1) dimensions possesses soliton solutions obeying rst order BPS equations, then, in general, it is possible to nd an in nite number of related eld theories with BPS solitons which obey closely related BPS equations. We point out that this fact may be understood as a simple consequence of an appropriately generalised notion of self-duality. We show that this self-duality framework enables us to generalize to higher dimensions the construction of new solitons from already known solutions. By performing simple eld transformations our procedure allows us to relate solitons with di erent topological properties. We present several interesting examples of such solitons in two and three dimensions.
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[EN]Many different complex systems depend on a large number n of mutually independent random Boolean variables. The most useful representation for these systems –usually called complex stochastic Boolean systems (CSBSs)– is the intrinsic order graph. This is a directed graph on 2n vertices, corresponding to the 2n binary n-tuples (u1, . . . , un) ∈ {0, 1} n of 0s and 1s. In this paper, different duality properties of the intrinsic order graph are rigorously analyzed in detail. The results can be applied to many CSBSs arising from any scientific, technical or social area…
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In questa tesi presentiamo una descrizione autoconsistente della dualità Colore/Cinematica nelle teorie di gauge e al processo di Double Copy. Particolare attenzione viene data all'approccio alla dualità con il formalismo di cono-luce, in quanto semplifica notevolmente sia il calcolo sia l'interpretazione fisica: vengono indagati i settori duale e self-duale per poi passare al modello di Chalmers e Siegel per l'estensione alla teoria generale. Proponiamo quindi uno Scalar Matrix Model, che può essere un buon modello per generare ampiezze ottenibili da una Double Copy `inversa', e ne studiamo un'eventuale dualità a la Colore/Cinematica. Vengono illustrati alcuni casi particolari di rottura spontanea di simmetria. In appendice riportiamo un notebook di Mathematica per il calcolo di ampiezze tree level di puro gauge, utile per i calcoli necessari allo studio della dualità.
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This dissertation analyzes the effect of market analysts’ expectations of share prices (price targets) on executive compensation. It examines how well the estimated effects of price targets on compensation fit with two competing views on determining executive compensation: the arm’s length bargaining model, which assumes that a board seeks to maximize shareholders’ interests, and the managerial power model, which assumes that a board seeks to maximize managers’ compensation (Bebchuk et al. 2005). The first chapter documents the pattern of CEO pay from fiscal year 1996 to 2010. The second chapter analyzes the Institutional Broker Estimate System Detail History Price Target data file, which that reports analysts’ price targets for firms. I show that the number of price target announcements is positively associated with company share price’s volatility, that price targets are predictive of changes in the value of stocks, and that when analysts announce positive (negative) expectations of future stock price, share prices change in the same direction in the short run. The third chapter analyzes the effect of price targets on executive compensation. I find that analysts' price targets alter the composition of executive pay between cash-based compensation and stock-based compensation. When analysts forecast a rise (fall) in the share price for a firm, the compensation package tilts toward stock-based (cash-based) compensation. The substitution effect is stronger in companies that have weaker corporate governance. The fourth chapter explores the effect of the introduction of the Sarbanes-Oxley Act (SOX) in 2002 and its reinforcement in 2006 on the options granting process. I show that the introduction of SOX and its reinforcement eliminated the practice of backdating options but increased “spring-loading” of option grants around price targets announcements. Overall, the dissertation shows that price targets provide insights into the determinants of executive pay in favor of the managerial power model.
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Investigating the new product portfolio innovativeness of family firms connects two important topics that have recently received considerable attention in innovation and family firm research. First, new product portfolio innovativeness has been identified as a critical determinant of firm performance. Second, research on family firms has focused on the questions of if and why family firms are more or less innovative than other organizational forms. Research investigating the innovativeness of family firms has often applied a risk-oriented perspective by identifying socioemotional wealth (SEW) as the main reference that determines firm behavior. Thus, prior research has mainly focused on the organizational context to predict innovation-related family firm behavior and neglected the impact of preferences and the behavior of the chief executive officer (CEO), which have both been shown to affect firm outcomes. Hence, this study aims to extend the previous research by introducing the CEO's disposition to organizational context variables to explain the new product portfolio innovativeness of small and medium-sized family firms. Specifically, this study explores how the organizational context (i.e., ownership by top management team [TMT] family members and generation in charge of the family firm) of family firms interacts with CEO risk-taking propensity to affect new product portfolio innovativeness. Using a sample of 114 German CEOs of small and medium-sized family firms operating in manufacturing industries, the results show that CEO risk-taking propensity has a positive effect on new product portfolio innovativeness. Moreover, the analyses show that the organizational context of family firms impacts the relationship between CEO risk-taking propensity and new product portfolio innovativeness. Specifically, the relationship between CEO risk-taking propensity and new product portfolio innovativeness is weaker if levels of ownership by TMT family members are high (high SEW). Additionally, the effect of CEO risk-taking propensity on new product portfolio innovativeness is stronger in family firms at earlier generational stages (high SEW). This result suggests that if SEW is a strong reference, family firm-specific characteristics can affect individual dispositions and, in turn, the behaviors of executives. Therefore, this study helps extend the knowledge on the determinants of new product portfolio innovativeness of family firms by considering an individual CEO preference and the organizational context variables of family firms simultaneously.