the implications of the irrational investor

... for the whole sample period, the other cash flow components consistently have the same directional impact on future eamings as on future cash flows To verify that the market * Some of the other ... to substantial risk of forfeiture, the issuing company may not receive the tax benefit at the date of exercise, rather when restrictions on the options lapse, depending on the employee’s choice ... from the continuing and core operating activities Therefore, if firms engage in these transactions regularly, the cash effects could be recurring The hypothesis regarding the persistence o f these...

Ngày tải lên: 30/09/2015, 14:28

... to the Palestinians by virtue of their being a member of the Arab League of States, and a signatory of the Arab Transit Agreement of 1977 In terms of this agreement, ‘Palestine’ has the right of ... special consent of the state concerned.186 Thus, Professor Brierly defined territorial sovereignty not in terms of the independence of the state, but rather in terms of the existence of plenary rights ... the nature of the cargo and the transportation system With respect to the cargo, the more homogenous the cargo, the less complex the inspection; while the more diverse is the cargo, the more complex...

Ngày tải lên: 16/02/2014, 11:20

... response, the judge shifted the burden of proof by ruling that Morgan Stanley “shall bear the burden of proving to the jury, by the greater weight of the evidence, that it lacked knowledge of the ... academics The multiyear process to amend the federal rules, the ongoing activities of the Sedona Conference, the ABA, the Conference of Chief Judges, and other organizations, and the high profile the ... parties to learn their perceptions of the effects of e-discovery on the legal system Second, we reviewed the current state of e-discovery law and practices, including the main features of the new Federal...

Ngày tải lên: 18/02/2014, 02:20

... China, the ‘value’ of wildlife lost as a result of the pollution accident will not be considered part of the ‘direct loss’ base.”121 Though the size of the penalties allowed has increased, the law ... control.”89 The 2008 LPCWP requires the governments of the provinces, autonomous regions, and municipalities to implement a system of total quantity control of the discharge of key pollutants in their ... many provisions of the old law with many of the regulations In fact, sections of the Implementing Rules and the Interim Measures are copied directly into the 2008 LPCWP As a result, the amended law...

Ngày tải lên: 18/02/2014, 04:20

... both student and student visitors’ expenditure – was $9.3 billion in 2009 – or 0.76%  of GDP; of this, $3.5 billion was in the education sector, the other $5.8 billion was in  the rest of the economy.  This  resulted  in  additional  employment  of 102,387  FTE  positions  of ... 10%  greater  than  their  shares  of the domestic  student  load  –  33.8%  versus  30.8% in the case of New South Wales and 31.5% versus 27.1%, in the case of Victoria. The other jurisdictions had commensurately lower levels of international students, ranging from  ...   The Economic Implications of Fewer International Higher Education Students in Australia    Implications for the Australian Economy  The Baseline  and  each of the three  scenarios  has  implications ...

Ngày tải lên: 20/02/2014, 19:20

... to the suitability of the land or the nature of the project and there was no study of the distribution of income in the local area 2.5 Lack of participation by affected people The granting of ... some of the written contracts include the signatures of the local Lao officials State policy, international institutions and the promotion of the rubber industry The origins of the promotion of ... the development of the meaning of “land”, the history of the land concessions, from the first beginnings to the present, rights and powers in the management and use of land, and the process of...

Ngày tải lên: 21/02/2014, 04:20

... petitioned the court to rehear the case and the final outcome of these and had yet to be determined at the time of this report’s publication In 2007, EPA’s Office of Water (OW) initiated the aforementioned ... documents due to the difficulty in understanding the complexities of these impacts, a lack of available information on their consequences, and the desire to limit the scope of environmental analysis.” ... and ultimately ensure the commercial viability of these unconventional resources In terms of the potential size of the oil shale resource residing in Region 8, the Department of Interior (DOI) estimates...

Ngày tải lên: 06/03/2014, 16:20

... for cleavage of the leader peptide after the double glycine motif [16,17] This cleavage occurs on the cytoplasmic side of the membrane during export of the bioactive peptide [18] The leader peptide ... help determine the structural basis of the inhibition of the antimicrobial activity of CbnB2 by the leader and to assist future analysis of the interaction of preCbnB2 with its ABC transporter ... establish the preferred geometry of the precursor We now report the chemical synthesis, biochemical production, and solution structure of preCbnB2, and compare it with the structure of the mature...

Ngày tải lên: 07/03/2014, 15:20

... from the definition of “bank” in the BHC Act and their general characteristics, we analyzed data from FDIC, the Federal Reserve, the Office of the Comptroller of the Currency (OCC), the Office of ... corporation Office of the Comptroller of the Currency Office of Thrift Supervision savings and loans Securities and Exchange Commission Summary of Deposits Department of the Treasury This is a work of the ... normally as of the close of business on the last calendar day of each calendar quarter The specific reporting requirements depend upon the size of the bank and whether it has any foreign offices...

Ngày tải lên: 15/03/2014, 09:20

... by the use of off-road vehicles (ORVs) S.2.5 Aesthetic and Cultural Impacts Tourism can diminish the aesthetic appeal of a destination through the construction of buildings that clash with the ... Clark memorial, the Museum of the Northern Great Plains, and the Museum of the Upper Missouri (Cass & Jahrig, 1998, p 8) A related benefit of tourism can be the revitalization of derelict urban ... sites), thereby potentially increasing the downstream influence of operators and the upstream influence of tourists Overall, the interactive nature of the Internet allows for the values of tourists...

Ngày tải lên: 15/03/2014, 16:20

... access to the Internet, but with inequality in access to the attention of those who use the Internet By dramatically reducing the cost of the replication and distribution of information, the Internet ... account for one in four of the most visited destinations of the Web (Waxman 2000b) The search engines they feature are often biased in their identification and, especially, ranking of sites in response ... A Social History of the Telephone to 1940 Berkeley: Univ Calif Press Fountain JE 2001a The economic impact of the Internet on the government sector In The Economic Payoff from the Internet Revolution,...

Ngày tải lên: 15/03/2014, 21:20

... directly between the two offshore islands and the mainland As part of that expansion of the mini-three links, the Taiwanese government also expanded the list of products that the offshore islands ... narrow the range of political options for the island in the future Opponents of further opening charge that the establishment of the three links would increase Taiwan’s dependence on the mainland ... of the scope and scale of the movement of technology and capital, summaries of the integrated circuit (IC) industries in Taiwan and China, and case studies of key companies Finally, Chapter offers...

Ngày tải lên: 15/03/2014, 22:20

... merits of various strains of coffee beans, of methods of preparation, of coffee machines, and of brands such as Starbucks The existence of united Each species of bean, each proThe existence of united ... on this type of consumption The second factor is the intensity of the social relationships the person possesses with other members of the virtual community The two factors will often be interrelated ... re-brand together Individuals place great weight on the judgments of their fellow community of consumption members, particularly the expert judgment of insiders and devotees The response of the collective...

Ngày tải lên: 15/03/2014, 22:20

... zinc Indeed, 33% of the total zinc in the ovary at stage and 13% of the total zinc in the testis at stage is still bound to MYP On the basis of the results of the present study and others, we propose ... measured the protein content of the CFMYP and EGMYP bands by densitometry of the SDS ⁄ PAGE gel of the purified MYP, and the ratio of CFMYP to total MYP (CFMYP + EGMYP) was calculated (Fig 3B) In the ... 1.7% of the MYP was CFMYP at stage and 18.3 ± 2.6% at stage In the testes, the proportions of CFMYP were 17.7 ± 5.3% at stage and 6.9 ± 3.5% at stage The higher the proportion of CFMYP, the more...

Ngày tải lên: 16/03/2014, 05:20

... and the other does not, the pay-off is plus 10 for the competitor and minus 10 for the other If both compete, they each get minus If neither competes, they both get plus The best thing for them ... by the erosion of the U.S manufacturing base, the loss of U.S R&D facilities, and the rise of China’s financial standing, less attention has been paid to the geo-political implications of the ... the IMF, the World Bank, the OECD, the GATT that became the WTO, and the G-7 governance structure that has now evolved into the G-20 The trans-Atlantic relationship has provided the bedrock of...

Ngày tải lên: 17/03/2014, 10:20

... humanization of the built landscape, and in the processes of destruction one can find the creation of opportunities for the greening of the brick and mortar landscapes of cities, the mitigation of hazard, ... revitalization of communities and the augmentation of resilience And in the final chapter in the text, McIntosh takes the analysis deeper into the process of recovery in an examination of the provision of ... unique aspects of disaster from their unique perspectives The first set of three chapters pertains to the conceptualization of the issues that influence the distribution of hazard and the probabilities...

Ngày tải lên: 17/03/2014, 12:20

... cent of the contents of US rubbish dumps • Other paper waste is incinerated This recovers the energy contained in the plant material, but can cause serious pollution It also means that most of the ... use The production of fibre for pulp, the processes of pulping and paper making, and the consumption of paper all currently take place mainly in the North Production is highly integrated, and there ... production of paper both increased by 12-13 per cent towards the end of the 1980s, making it one of the world's most rapidly expanding pulp markets18 The 1990s have also seen a rapid proliferation of...

Ngày tải lên: 18/03/2014, 02:20

... contracts supplied to firms As we match the life of the credit contracts to the number of periods the firm does not adjust capital, the average life of banks’ assets in the economy as a whole is D k 1=.1 ... March 2012 13 the other firms have to demand the remaining amount of capital to ensure equilibrium in the capital market The fact that the capital-labour ratio is the same across firms further implies ... production level of the individual firms There are at least two interesting implications of the infrequent capital adjustments at the firm level First, the distortion on firms’ ability to change their capital...

Ngày tải lên: 22/03/2014, 21:20

... the availability fee (and therefore the cost of finance to the public commissioner) was held constant under the terms of the contract, allowing the shareholder rate of return to increase in the ... function of the SPV is to bring the various private sector actors together for the purpose of the PFI deal (See diagram 1) It does this through a system of contracts, the most significant of which ... sufficient to pay back the principal and interest of all loans and the dividends of shareholders over the life of the contract The unitary charge as a whole constitutes the cashflow from the public to...

Ngày tải lên: 23/03/2014, 04:20

... weight))1 (n ˆ 5) Thus in the presence of glycerol, there was an apparent net synthesis of glucose of 0.62 ‹ 0.05 lmolámin)1á(g wet weight))1 The rate of glycogen synthesis of 0.13 ‹ 0.01 lmolámin)1á(g ... and presence of mM glycerol The rates of glucose phosphorylation were measured as the sum of 3H2O released from [2-3H]glucose plus the amount of tritiated glycogen formed The rate of [6-3H]glucose ... unaffected by the glycerol infusion The basis for the effects of glycerol infusion is revealed by the isotopic data (Table 4) These show that when glycerol was infused into the medium, the rate of glycolysis...

Ngày tải lên: 24/03/2014, 03:21