Green IT (includes High Powered Computing) - background reading

Background reading for coursework to prepare a technical report as part of the orientation phase. These items are business documents (i.e. grey literature) which might be read as a prelude or complement to finding information in peer reviewed academic publications. grey literature links and articles to be used in preparation of technical report. See also overview guidance document for this assignment http://www.edshare.soton.ac.uk/8017/

Corporate Tax Avoidance and High Powered Incentives

This paper analyzes the links between corporate tax avoidance, the growth of highpowered incentives for managers, and the structure of corporate governance. We develop and test a simple model that highlights the role of complementarities between tax sheltering and managerial diversion in determining how high-powered incentives influence tax sheltering decisions. The model generates the testable hypothesis that firm governance characteristics determine how incentive compensation changes sheltering decisions. In order to test the model, we construct an empirical measure of corporate tax avoidance - the component of the book-tax gap not attributable to accounting accruals - and investigate the link between this measure of tax avoidance and incentive compensation. We find that, for the full sample of firms, increases in incentive compensation tend to reduce the level of tax sheltering, suggesting a complementary relationship between diversion and sheltering. As predicted by the model, the relationship between incentive compensation and tax sheltering is a function of a firm.s corporate governance. Our results may help explain the growing cross-sectional variation among firms in their levels of tax avoidance, the .undersheltering puzzle,. and why large book-tax gaps are associated with subsequent negative abnormal returns.

Operator and organizational maintenance manual for high-powered illuminator radar set AN/MPQ-57, NSN 1430-01-078-9643 : HAWK air defense guided missile system.

"This copy is a reprint which includes current pages from Changes 1 and 2."

Operator and organizational maintenance fault isolation manual : improved high-powered illuminator radar AN/MPQ-46 (XO-1), (improved Hawk air defense guided missile system).

"January 1979."

Operator and organizational maintenance manual for improved high-powered illuminator radar set AN/MPQ-46 (XO-1) : (improved HAWK air defense guided missile system).

Includes index.

Ensaios em finanças públicas municipais

Esta tese busca discutir problemas relacionados às finanças públicas municipais no país. Um aprimoramento de nosso federalismo fiscal, com maior descentralização de recursos e implementação de regras de transferências federativas com maiores incentivos pró-eficiência – aumentando os incentivos pró-obtenção de melhores resultados sociais por parte das unidades subfederadas – pode se revelar instrumento importante na melhoria de nossas condições sociais. Para isto, dividiu-se esta tese em quatro partes distintas. No primeiro capítulo, discutem-se os impactos das receitas petrolíferas sobre as finanças públicas municipais. As mudanças legais ocorridas no país na década de noventa do último século - relativas ao setor petrolífero - levaram a crescente (e concentrada) transferência de recursos do setor para os estados e municípios brasileiros. A forte sensação que estes estariam sendo desperdiçados de alguma forma vem suscitando discussões sobre a necessidade de se reformular sua distribuição. As recentes descobertas de megacampos petrolíferos no pré-sal do litoral brasileiro somente intensificaram este processo. Buscou-se identificar os efeitos destas transferências sobre as variáveis fiscais municipais no país. Detectou-se que não ocorreu substituição tributária, ou seja, estes recursos não diminuíram o esforço arrecadatório dos municípios. Em compensação, tanto os recursos cuja distribuição é bem mais concentrada (referentes aos royalties excedentes) quanto aqueles mais bem-distribuídos (referentes aos royalties originais) levaram as prefeituras a aumentar seus gastos correntes (piorando sua composição do ponto de vista social) e diminuir seus investimentos. O contrário parece ocorrer com os recursos cuja distribuição se dá de forma intermediária (os royalties referentes às participações especiais). No segundo capítulo, discute-se o impacto das receitas petrolíferas sobre a proficiência dos alunos até a quarta série primária das escolas públicas municipais. As receitas petrolíferas – agregadas ou não – não se mostraram estatisticamente significativas na explicação do desempenho observado pelos alunos da quarta série primária das escolas municipais em português ou matemática. Este resultado, entretanto, deve ser olhado com cautela, uma vez que não é trivial identificar como (e o tempo necessário) estes efeitos seriam gerados. Entretanto, diferentes fontes de receitas municipais impactariam de forma diferenciada as proficiências observadas nos testes de português e matemática, explicitando a necessidade de se entender melhor estas diferenças para se desenhar mecanismo mais eficiente de repasse de recursos constitucionais aos municípios. No terceiro capítulo, estudam-se os impactos das emancipações municipais ocorridas na década de 90 sobre o bem-estar das populações locais. Devido à Constituição Federal de 1988, o número de municípios no Brasil multiplicou-se fortemente na década de 90 do último século. Mais de mil municípios foram criados em todo o país, fazendo seu número ultrapassar a casa dos 5.500. Este processo tem sido interpretado de forma bastante negativa. Baseado em evidências anedóticas, se pressupõe que os atores políticos locais o utilizaram para se apropriar de maior parcela dos recursos transferidos de outros níveis governamentais. Entretanto, nenhum esforço mais sistemático foi realizado buscando calcular, de maneira efetiva, os resultados sociais líquidos deste processo. É isto que se busca fazer aqui, utilizando dados sobre os municípios mineiros - cujo número passa de 723 em 1991 para 853 em 2000. Foram detectados impactos positivos relacionados a diversas variáveis educacionais e de saúde. Ao mesmo tempo, o contrário ocorreu com os indicadores de pobreza e indigência. Este resultado mostra que o movimento observado de emancipação municipal talvez tenha sido bastante benéfico, sinalizando para a existência de mercados políticos eficientes nestas localidades, o que indicaria a necessidade de se manter uma maior autonomia local relativa a processos de emancipação de distritos. Por fim, no quarto capítulo, analisam-se os impactos de lei (implementada em Minas Gerais) que buscou aumentar os incentivos pró-eficiência das prefeituras municipais a partir das transferências federativas. Buscando melhorar as condições de vida dos municípios mineiros, o governo estadual mineiro instituiu, em 1995, a lei 12.040, conhecida como Lei Robin Hood. Esta permitia que 25% dos recursos de ICMS a serem distribuídos aos municípios mineiros se dessem sobre resultados observáveis em diversas áreas tais como saúde, educação, conservação ecológica, entre outras. Ou seja, esta instituía, em relação a estas transferências, um contrato de alto poder com os municípios relacionados às políticas públicas implementadas. O estudo destas transferências (relativas à educação e saúde) mostrou resultados dúbios. Resultados positivos relativos à educação e à saúde parecem ocorrer em todo o estado, mas os incentivos dados poderiam ser bem maiores - faz-se necessário um refinamento das regras da partilha destas transferências. Dada a relativa escassez deste tipo de contrato em transferências federativas, seja no Brasil, seja no restante do mundo, este resultado aponta a necessidade de utilização de instrumentos de maior poder nas relações federativas, buscando incrementar as condições de vida locais.

Venture capital meets contract theory: risky claims or formal control?

This paper develops a theory of the joint allocation of formal control and cash-flow rights in venture capital deals. We argue that when the need for investor support calls for very high-powered outside claims, entrepreneurs should optimally retain formal control in order to avoid excessive interference. Hence, we predict that risky claims should be be negatively correlated to control rights, both along the life of a start-up and across deals. This challenges the idea that risky claims should a ways be associated to more formal control, and is in line with contractual terms increasingly used in venture capital, in corporate venturing and in partnership deals between biotech start-ups and large drug companies. The paper provides a theoretical explanation to some puzzling evidence documented in Gompers (1997) and Kaplan and Stromberg (2000), namely the inclusion in venture capital contracts of contingencies that trigger both a reduction in VC control and the conversion! of her preferred stocks into common stocks.

Robust and high current cold electron source based on carbon nanotube field emitters and electron multiplier microchannel plate

The aim of this research was to demonstrate a high current and stable field emission (FE) source based on carbon nanotubes (CNTs) and electron multiplier microchannel plate (MCP) and design efficient field emitters. In recent years various CNT based FE devices have been demonstrated including field emission displays, x-ray source and many more. However to use CNTs as source in high powered microwave (HPM) devices higher and stable current in the range of few milli-amperes to amperes is required. To achieve such high current we developed a novel technique of introducing a MCP between CNT cathode and anode. MCP is an array of electron multipliers; it operates by avalanche multiplication of secondary electrons, which are generated when electrons strike channel walls of MCP. FE current from CNTs is enhanced due to avalanche multiplication of secondary electrons and in addition MCP also protects CNTs from irreversible damage during vacuum arcing. Conventional MCP is not suitable for this purpose due to the lower secondary emission properties of their materials. To achieve higher and stable currents we have designed and fabricated a unique ceramic MCP consisting of high SEY materials. The MCP was fabricated utilizing optimum design parameters, which include channel dimensions and material properties obtained from charged particle optics (CPO) simulation. Child Langmuir law, which gives the optimum current density from an electron source, was taken into account during the system design and experiments. Each MCP channel consisted of MgO coated CNTs which was chosen from various material systems due to its very high SEY. With MCP inserted between CNT cathode and anode stable and higher emission current was achieved. It was ∼25 times higher than without MCP. A brighter emission image was also evidenced due to enhanced emission current. The obtained results are a significant technological advance and this research holds promise for electron source in new generation lightweight, efficient and compact microwave devices for telecommunications in satellites or space applications. As part of this work novel emitters consisting of multistage geometry with improved FE properties were was also developed.

Há alternativas ao aumento de impostos? Sim, há.

“Procuradoria aconselha levar swaps a tribunal”. Referindo-se com maior especificidade: “A Procuradoria-Geral da República manteve contactos informais com o Ministério das Finanças para avaliar a possibilidade de o Estado levar a tribunal os contratos de alto risco assinados por empresas públicas de transporte. E deu indicações ao Governo de que há condições para conseguir a anulação dos swaps, se o Estado optar pela via litigiosa – o que ainda não aconteceu. Para isso, o Executivo tem de dar essa indicação ao Ministério Público”. Abstract: "Attorney advises swaps take the court." Referring with greater specificity: "The Attorney General's Office had informal contacts with the Ministry of Finance to evaluate the possibility of the state to prosecute high-risk contracts signed by public transport companies. And has directed the Government that there are conditions to achieve the cancellation of swaps if the state chooses the remedy litigation - which has not happened yet. For this, the Executive must provide that information to the prosecutor. "

Heróis Nacionais dos Contratos-swap no Minho!

A Procuradoria-Geral da República manteve contactos informais com o Ministério das Finanças para avaliar a possibilidade de o Estado levar a tribunal os contratos de alto risco assinados por empresas públicas de transporte. E deu indicações ao Governo de que há condições para conseguir a anulação dos swaps, se o Estado optar pela via litigiosa – o que ainda não aconteceu. Para isso, o Executivo tem de dar essa indicação ao Ministério Público” § The Attorney General's Office had informal contacts with the Ministry of Finance to evaluate the possibility of the state to prosecute high-risk contracts signed by public transport companies. And the Government has indicated that there are conditions to achieve the cancellation of swaps, if the state chooses the remedy litigation - which has not happened yet. For this, the Executive must provide that information to the prosecutor ";

New gene functions in megakaryopoiesis and platelet formation.

Platelets are the second most abundant cell type in blood and are essential for maintaining haemostasis. Their count and volume are tightly controlled within narrow physiological ranges, but there is only limited understanding of the molecular processes controlling both traits. Here we carried out a high-powered meta-analysis of genome-wide association studies (GWAS) in up to 66,867 individuals of European ancestry, followed by extensive biological and functional assessment. We identified 68 genomic loci reliably associated with platelet count and volume mapping to established and putative novel regulators of megakaryopoiesis and platelet formation. These genes show megakaryocyte-specific gene expression patterns and extensive network connectivity. Using gene silencing in Danio rerio and Drosophila melanogaster, we identified 11 of the genes as novel regulators of blood cell formation. Taken together, our findings advance understanding of novel gene functions controlling fate-determining events during megakaryopoiesis and platelet formation, providing a new example of successful translation of GWAS to function.

Identifying monetary policy shocks in Japan

It is sometimes argued that the central banks influence the private economy in the short run through controlling a specific component of high powered money, not its total amount. Using a structural VAR approach, this paper evaluates this claim empirically, in the context of the Japanese economy. I estimate a model based on the standard view that the central bank controls the total amount of high powered money, and another model based on the alternative view that it controls only a specific component. It is shown that the former yields much more sensible estimates than thelatter.

Three-phase machines and drives - equipment for a laboratory-based course

The hazards associated with high-voltage three-phase inverters and high-powered large electrical machines have resulted in most of the engineering courses covering three-phase machines and drives theoretically. This paper describes a set of purpose-built, low-voltage, and low-cost teaching equipment that allows the hands-on instruction of three-phase inverters and rotating machines. The motivation for moving towards a system running at low voltages is that the students can safely experiment freely with the motors and inverter. The students can also access all of the current and voltage waveforms, which until now could only be studied in textbooks or observed as part of laboratory demonstrations. Both the motor and the inverter designs are for teaching purposes and require minimal effort and cost

Three-phase machines and drives - Equipment for a laboratory-based course

The hazards associated with high-voltage three-phase inverters and high-powered large electrical machines have resulted in most of the engineering courses covering three-phase machines and drives theoretically. This paper describes a set of purpose-built, low-voltage, and low-cost teaching equipment that allows the hands-on instruction of three-phase inverters and rotating machines. The motivation for moving towards a system running at low voltages is that the students can safely experiment freely with the motors and inverter. The students can also access all of the current and voltage waveforms, which until now could only be studied in textbooks or observed as part of laboratory demonstrations. Both the motor and the inverter designs are for teaching purposes and require minimal effort and cost.

Beyond the Threshold: Life in the New Russia

Amanda Sprang spent nine months, from September of 1995 to May of 1996, studying at Colby College's program in St. Petersburg, Russia. Through contacts made during previous trips to Russia in middle and high school, Amanda was able to quickly rekindle her old friendships and make new ones with many young Russians from different backgrounds. The following work is a collection of twelve essays about life in the New Russia. The essays are framed by a foreword and an epilogue that help place the entire work in a historical context. Although the theme of each essay emerges from a particular incident, within every story Amanda has addressed numerous topics relating to Russian life in today’s changing society. Her first essay, “Art Klinika," takes place in an avant-garde night club in St. Petersburg, and includes a brief yet impressionable, encounter with three young Russian men. “The Birthday Party” recalls a wild evening at the home of her close friend, showing how the Russians greet special occasions. Both the third and fourth essays take place in Moscow, where Amanda returns to visit old friends. These two essays portray the lives of the new economic elite in comparison with the average citizen, as well as show how young Russians face the new challenges that greet them. "Politics Russian Style" recalls a political rally in St. Petersburg, and attempts to shed light on the wacky political world of an infant democracy. Chapters Six through Ten take place away from the western cities of St. Petersburg and Moscow, as Amanda brings us to the cold, mysterious land of Siberia in the dead of winter. She recounts her five day train ride with a retired, high-powered, Communist party official, her experiences in the provincial city of Irkutsk, and a brief trip to a Buddhist monastery and, later, an excursion to Lake Baikal. Back in St. Petersburg, Chapter Eleven gives a humorous account of a ski trip with several Russian friends. Amanda finishes her work with her final chapter, “The Dacha," which describes a weekend spent at a Russian country home with her friend's family.