Strategic or Status quo-Preserving Business Exit: (How) Do CEO Turnover and Succession Matter?

Business exit has implications for a firm’s corporate strategy. Two types of exit events are distinguished: those that involve strategic change and those that are status quo-preserving. This study investigates the impact of CEO turnover and succession on strategic versus status quo-preserving business exits. Based on a sample of CEO turnover and succession events and subsequent business exits of German corporations from different industries, our results suggest that neither voluntary nor involuntary CEO turnover is relevant to business exit. In contrast, outsider succession significantly affects the likelihood of strategic business exit, while a corporation’s performance does not moderate this relationship

Divergence at low bias and down-mixing of the current noise in a diffusive superconductor-normal metal-superconductor junction

We present current noise measurements in a long diffusive superconductor-normal-metal-superconductor junction in the low voltage regime, in which transport can be partially described in terms of coherent multiple Andreev reflections. We show that, when decreasing voltage, the current noise exhibits a strong divergence together with a broad peak. We ascribe this peak to the mixing between the ac- Josephson current and the noise of the junction itself. We show that the junction noise corresponds to the thermal noise of a nonlinear resistor 4kBT=R with R V = I V and no adjustable parameters

Perturbation analysis of trapped-particle dynamics in axisymmetric dipole geometry

The perturbation analysis of the bounce action-angle coordinates $(J,\zeta)$ for charged particles trapped in an axisymmetric dipole magnetic field is presented. First, the lowest-order bounce action-angle coordinates are derived for deeply-trapped particles in the harmonic-oscillator approximation. Next, the Lie-transform perturbation method is used to derive higher-order anharmonic action-angle corrections. Explicit expressions (with anharmonic corrections) for the canonical parallel coordinates $s(J,\zeta)$ and $p_{\|}(J,\zeta)$ are presented, which satisfy the canonical identity $\{s,\; p_{\|}\}(J,\zeta) \equiv 1$. Lastly, analytical expressions for the bounce and drift frequencies (which include anharmonic corrections) yield excellent agreement with exact numerical results.Comment: 16 pages, 3 figure

(how) do CEO turnover and succession matter?

Business exit has implications for a firm’s corporate strategy. Two types of exit events are distinguished: those that involve strategic change and those that are status quo-preserving. This study investigates the impact of CEO turnover and succession on strategic versus status quo-preserving business exits. Based on a sample of CEO turnover and succession events and subsequent business exits of German corporations from different industries, our results suggest that neither voluntary nor involuntary CEO turnover is relevant to business exit. In contrast, outsider succession significantly affects the likelihood of strategic business exit, while a corporation’s performance does not moderate this relationship

Is the magnetic field in the heliosheath laminar or a turbulent bath of bubbles?

All the current global models of the heliosphere are based on the assumption that the magnetic field in the heliosheath, in the region close to the heliopause is laminar. We argue that in that region the heliospheric magnetic field is not laminar but instead consists of magnetic bubbles. Recently, we proposed that the annihilation of the "sectored" magnetic field within the heliosheath as it is compressed on its approach to the heliopause produces the anomalous cosmic rays and also energetic electrons. As a product of the annihilation of the sectored magnetic field, densely-packed magnetic islands/bubbles are produced. These magnetic islands/bubbles will be convected with the ambient flows as the sector region is carried to higher latitudes filling the heliosheath. We further argue that the magnetic islands/bubbles will develop upstream within the heliosheath. As a result, the magnetic field in the heliosheath sector region will be disordered well upstream of the heliopause. We present a 3D MHD simulation with very high numerical resolution that captures the north-south boundaries of the sector region. We show that due to the high pressure of the interstellar magnetic field a north-south asymmetry develops such that the disordered sectored region fills a large portion of the northern part of the heliosphere with a smaller extension in the southern hemisphere. We suggest that this scenario is supported by the following changes that occur around 2008 and from 2009.16 onward: a) the sudden decrease in the intensity of low energy electrons detected by Voyager 2; b) a sharp reduction in the intensity of fluctuations of the radial flow; and c) the dramatic differences in intensity trends between GCRs at V1 and 2. We argue that these observations are a consequence of V2 leaving the sector region of disordered field during these periods and crossing into a region of unipolar laminar field.Comment: 36 pages, 15 figures, submitted to Ap

Mirror symmetry breaking as a problem in dynamical critical phenomena

The critical properties of the Frank model of spontaneous chiral synthesis are discussed by applying results from the field theoretic renormalization group (RG). The long time and long wavelength features of this microscopic reaction scheme belong to the same universality class as multi-colored directed percolation processes. Thus, the following RG fixed points (FP) govern the critical dynamics of the Frank model for d<4: one unstable FP that corresponds to complete decoupling between the two enantiomers, a saddle-point that corresponds to symmetric interspecies coupling, and two stable FPs that individually correspond to unidirectional couplings between the two chiral molecules. These latter two FPs are associated with the breakdown of mirror or chiral symmetry. In this simplified model of molecular synthesis, homochirality is a natural consequence of the intrinsic reaction noise in the critical regime, which corresponds to extremely dilute chemical systems.Comment: 9 pages, 3 figure

Deer, People, and Parks: Perspectives of Residents in Communities Near Valley Forge National Historical Park

Click on the PDF for an Executive Summary and the full report. Visit the HDRU website for a complete listing of HDRU publications at: http://hdru.dnr.cornell.edu

What's in your next-generation sequence data? An exploration of unmapped DNA and RNA sequence reads from the bovine reference individual.

BackgroundNext-generation sequencing projects commonly commence by aligning reads to a reference genome assembly. While improvements in alignment algorithms and computational hardware have greatly enhanced the efficiency and accuracy of alignments, a significant percentage of reads often remain unmapped.ResultsWe generated de novo assemblies of unmapped reads from the DNA and RNA sequencing of the Bos taurus reference individual and identified the closest matching sequence to each contig by alignment to the NCBI non-redundant nucleotide database using BLAST. As expected, many of these contigs represent vertebrate sequence that is absent, incomplete, or misassembled in the UMD3.1 reference assembly. However, numerous additional contigs represent invertebrate species. Most prominent were several species of Spirurid nematodes and a blood-borne parasite, Babesia bigemina. These species are either not present in the US or are not known to infect taurine cattle and the reference animal appears to have been host to unsequenced sister species.ConclusionsWe demonstrate the importance of exploring unmapped reads to ascertain sequences that are either absent or misassembled in the reference assembly and for detecting sequences indicative of parasitic or commensal organisms

Space power distribution system technology. Volume 2: Autonomous power management

Electrical power subsystem requirements, power management system functional requirements, algorithms, power management subsystem, hardware development, and trade studies and analyses are discussed

Independent domains of daily mobility in patients with neurological gait disorders

The aim of this study was to establish a comprehensive and yet parsimonious model of daily mobility activity in patients with neurological gait disorders. Patients (N = 240) with early-stage neurological (peripheral vestibular, cerebellar, hypokinetic, vascular or functional) gait disorders and healthy controls (N = 35) were clinically assessed with standardized scores related to functional mobility, balance confidence, quality of life, cognitive function, and fall history. Subsequently, daily mobility was recorded for 14~days by means of a body-worn inertial sensor (ActivPAL\circledR). Fourteen mobility measures derived from ActivPAL recordings were submitted to principle component analysis (PCA). Group differences within each factor obtained from PCA were analyzed and hierarchical regression analysis was performed to identify predictive characteristics from clinical assessment for each factor. PCA yielded five significant orthogonal factors (i.e., mobility domains) accounting for 92.3% of the total variance from inertial-sensor-recordings: ambulatory volume (38.7%), ambulatory pattern (22.3%), postural transitions (13.3%), sedentary volume (10.8%), and sedentary pattern (7.2%). Patients' mobility performance only exhibited reduced scores in the ambulatory volume domain but near-to-normal scores in all remaining domains. Demographic characteristics, clinical scores, and fall history were differentially associated with each domain explaining 19.2-10.2% of their total variance. This study supports~a low-dimensional five-domain model for daily mobility behavior in patients with neurological gait disorders that may facilitate monitoring the course of disease or therapeutic intervention effects in ecologically valid and clinically relevant contexts. Further studies are required to explore the determinants that may explain performance differences of patients within each of these domains and to examine the consequences of altered mobility behavior with respect to patients' risk of falling and quality of life