Theft and Taxes

This paper analyzes the interaction between corporate taxes and corporate governance. We show that the characteristics of a taxation system affect the extraction of private benefits by company insiders. A higher tax rate increases the amount of income insiders divert and thus worsens governance outcomes. In contrast, stronger tax enforcement reduces diversion and, in so doing, can raise the stock market value of a company in spite of the increase in the tax burden. We also show that the corporate governance system affects the level of tax revenues and the sensitivity of tax revenues to tax changes. When the corporate governance system is ineffective (i.e., when it is easy to divert income), an increase in the tax rate can reduce tax revenues. We test this prediction in a panel of countries. Consistent with the model, we find that corporate tax rate increases have smaller (in fact, negative) effects on revenues when corporate governance is weaker. Finally, this approach provides a novel justification for the existence of a separate corporate tax based on profits.

Past electron-positron g-2 experiments yielded sharpest bound on CPT violation for point particles

In our past experiments on a single electron and positron we measured the cyclotron and spin-cyclotron difference frequencies omega_c and omega_a and the ratios a = omega_a/ omega_c at omega_c = 141 Ghz for e^- and e^+ and later, only for e^-, also at 164 Ghz. Here, we do extract from these data, as had not done before, a new and very different figure of merit for violation of CPT symmetry, one similar to the widely recognized impressive limit |m_Kaon - m_Antikaon|/m_Kaon < 10^-18 for the K-mesons composed of two quarks. That expression may be seen as comparing experimental relativistic masses of particle states before and after the C, P, T operations had transformed particle into antiparticle. Such a similar figure of merit for a non-composite and quite different lepton, found by us from our Delta a = a^- - a^+ data, was even smaller, h_bar |omega_a^- - omega_a^+|/2m_0 c^2 = |Delta a| h_bar omega_c/2m_0 c^2) < 3(12) 10^-22.Comment: Improved content, Editorially approved for publication in PRL, LATEX file, 5 pages, no figures, 16

Theoretical energies of low-lying states of light helium-like ions

Rigorous quantum electrodynamical calculation is presented for energy levels of the 1^1S, 2^1S, 2^3S, 2^1P_1, and 2^3P_{0,1,2} states of helium-like ions with the nuclear charge Z=3...12. The calculational approach accounts for all relativistic, quantum electrodynamical, and recoil effects up to orders m\alpha^6 and m^2/M\alpha^5, thus advancing the previously reported theory of light helium-like ions by one order in \alpha.Comment: 18 pages, 9 tables, 1 figure, with several misprints correcte

Associations of neighborhood characteristics with active park use : an observational study in two cities in the USA and Belgium

Background: Public parks can be an important setting for physical activity promotion, but to increase park use and the activity levels of park users, the crucial attributes related to active park use need to be defined. Not only user characteristics and structural park attributes, but also characteristics of the surrounding neighborhood are important to examine. Furthermore, internationally comparable studies are needed, to find out if similar intervention strategies might be effective worldwide. The main aim of this study was to examine whether the overall number of park visitors and their activity levels depend on study site, neighborhood walkability and neighborhood income. Methods: Data were collected in 20 parks in Ghent, Belgium and San Diego, USA. Two trained observers systematically coded park characteristics using the Environmental Assessment of Public Recreation Spaces (EAPRS) tool, and park user characteristics using the System for Observing Play and recreation in Communities (SOPARC) tool. Multilevel multiple regression models were conducted in MLwiN 2.25. Results: In San Diego parks, activity levels of park visitors and number of vigorously active visitors were higher than in Ghent, while the number of visitors walking and the overall number of park visitors were lower. Neighborhood walkability was positively associated with the overall number of visitors, the number of visitors walking, number of sedentary visitors and mean activity levels of visitors. Neighborhood income was positively associated with the overall number of visitors, but negatively with the number of visitors being vigorously active. Conclusions: Neighborhood characteristics are important to explain park use. Neighborhood walkability-related attributes should be taken into account when promoting the use of existing parks or creating new parks. Because no strong differences were found between parks in high-and low-income neighborhoods, it seems that promoting park use might be a promising strategy to increase physical activity in low-income populations, known to be at higher risk for overweight and obesity

Shell-model description of monopole shift in neutron-rich Cu

Variations in the nuclear mean-field, in neutron-rich nuclei, are investigated within the framework of the nuclear shell model. The change is identified to originate mainly from the monopole part of the effective two-body proton-neutron interaction. Applications for the low-lying states in odd-$A$ Cu nuclei are presented. We compare the results using both schematic and realistic forces. We also compare the monopole shifts with the results obtained from large-scale shell-model calculations, using the same realistic interaction, in order to study two-body correlations beyond the proton mean-field variations.Comment: Phys. Rev. C (in press

Nature is Prior to Us: Applying Catholic Social Thought and Anabaptist-Mennonite Theology to the Ethics of Stakeholder Prioritization for the Natural Environment

We develop a spiritual and ethical based understanding of stakeholder theory that treats the natural environment as a primary stakeholder. We consider how Catholic social thought and Anabaptist-Mennonite theology can be seen as important resources for stakeholder thought and management, especially as they pertain to the natural environment as a primary stakeholder. We provide a discussion and implications for academics and practitioners in terms of dignifying both ecology and humanity, and creating solidarity between them. We also discuss how managers can become more attuned to the environment as a primary stakeholder through the development of relationships with the land and communities

Clinical surveillance of thrombotic microangiopathies in Scotland, 2003-2005

The prevalence, incidence and outcomes of haemolytic uraemic syndrome (HUS) and thrombotic thrombocytopaenic purpura (TTP) are not well established in adults or children from prospective studies. We sought to identify both outcomes and current management strategies using prospective, national surveillance of HUS and TTP, from 2003 to 2005 inclusive. We also investigated the links between these disorders and factors implicated in the aetiology of HUS and TTP including infections, chemotherapy, and immunosuppression. Most cases of HUS were caused by verocytotoxin-producing Escherichia coli (VTEC), of which serotype O157 predominated, although other serotypes were identified. The list of predisposing factors for TTP was more varied although use of immunosuppressive agents and severe sepsis, were the most frequent precipitants. The study demonstrates that while differentiating between HUS and TTP is sometimes difficult, in most cases the two syndromes have quite different predisposing factors and clinical parameters, enabling clinical and epidemiological profiling for these disorders

Demonstration of safety of intravenous immunoglobulin in geriatric patients in a long-term, placebo-controlled study of Alzheimer's disease.

INTRODUCTION:We present safety results from a study of Gammagard Liquid intravenous immunoglobulin (IGIV) in patients with probable Alzheimer's disease. METHODS:This was a placebo-controlled double-blind study. Subjects were randomized to 400 mg/kg (n = 127), 200 mg/kg (n = 135) IGIV, or to 0.25% human albumin (n = 121) administered every 2 weeks ± 7 days for 18 months. RESULTS:Elevated risk ratios of IGIV versus placebo included chills (3.85) in 9.5% of IGIV-treated subjects (all doses), compared to 2.5% of placebo-treated subjects, and rash (3.08) in 15.3% of IGIV-treated subjects versus 5.0% of subjects treated with placebo. Subjects in the highest IGIV dose group had the lowest proportion of SAEs considered related to product (2 of 127 [1.6%]). Subjects treated with IGIV experienced a lower rate of respiratory and all other infections compared to placebo. DISCUSSION:IGIV-treated subjects did not experience higher rates of renal failure, lung injury, or thrombotic events than the placebo group. There were no unexpected safety findings. IGIV was well tolerated throughout 18 months of treatment in subjects aged 50-89 years