Convergence of financial systems in Europe : a research programme

Aus dem weiten Spektrum ökonomisch relevanter Fragen, die die europäische Integration und das Gesellschaftsrecht verbinden, soll hier diejenige herausgegriffen werden, ob sich die nationalen Corporate-Governance-Systeme in den großen europäischen Volkswirtschaften Deutschlands, Frankreichs und Großbritanniens unter dem Einfluß der europäischen Integration bereits aneinander angeglichen haben und ob es demnächst zu einer solchen Angleichung kommen wird. Unser Thema deckt nur einen Teil des Gesellschaftsrechts ab und geht zugleich hinsichtlich der angesprochenen rechtlichen Materie über das Gesellschaftsrecht hinaus, denn die Corporate Governance fügt sich nicht einfach in herkömmliche juristische Klassifikationen ein. Unser Vorhaben unterscheidet sich aber vor allem dadurch von einer juristischen Behandlung des Themas, daß primär ökonomische Mechanismen und Zusammenhänge angesprochen werden. Ökonomen betrachten die Corporate Governance im weiteren Kontext des Finanzsystems, denn das Corporate-Governance-System ist ein Teil des Finanzsystems eines Landes. Die Fragen, wie unterschiedlich die nationalen Systeme der Corporate Governance waren, ehe zu Beginn der 80er Jahre der Prozeß der Angleichung in Europa einsetzte, wie unterschiedlich sie heute noch sind, wie sehr sie sich somit bereits angeglichen haben und wie ein möglicher Angleichungsprozeß weitergehen könnte, sind deshalb ein Teil der weiteren Frage nach der Angleichung der Finanzsysteme in Europa. In diesem Beitrag konzentrieren wir uns aber nur auf Entwicklungen der 90er Jahre.This paper discusses whether, in which respects, and to what extent the corporate governance systems of Germany, the United Kingdom and France have already converged in the course of European economic integration, or are likely to converge in the foreseeable future. We present, and attempt to provide empirical support for, the proposition that, firstly, as far as legal and other regulation is concerned, a certain, though limited, degree of convergence is already visible today. Secondly, as far as the practice of corporate governance is concerned, there is less convergence; and thirdly, as far as the systemic properties of the national corporate governance systems are concerned, there is no convergence at all. In order to support our proposition, we first develop a methodology for describing and analysing corporate governance systems and for identifying their systemic properties, and then apply this methodology to the corporate governance systems of the three countries. The lack of systemic convergence so far seems to be due to the complementarity between the different elements of the respective national financial systems. The paper therefore concludes with the prediction that, if there is any substantial convergence of the corporate governance systems in Europe in the foreseeable future at all, it is not likely to be a smooth transition to a "middle of the road" position located somewhere between the present German and British corporate governance systems

Optimal a priori discretization error bounds for geodesic finite elements

We prove optimal bounds for the discretization error of geodesic finite elements for variational partial differential equations for functions that map into a nonlinear space. For this, we first generalize the well-known Céa lemma to nonlinear function spaces. In a second step, we prove optimal interpolation error estimates for pointwise interpolation by geodesic finite elements of arbitrary order. These two results are both of independent interest. Together they yield optimal a priori error estimates for a large class of manifold-valued variational problems. We measure the discretization error both intrinsically using an H1-type Finsler norm and with the H1-norm using embeddings of the codomain in a linear space. To measure the regularity of the solution, we propose a nonstandard smoothness descriptor for manifold-valued functions, which bounds additional terms not captured by Sobolev norms. As an application, we obtain optimal a priori error estimates for discretizations of smooth harmonic maps using geodesic finite elements, yielding the first high-order scheme for this problem

Ruled Laguerre minimal surfaces

A Laguerre minimal surface is an immersed surface in the Euclidean space being an extremal of the functional \int (H^2/K - 1) dA. In the present paper, we prove that the only ruled Laguerre minimal surfaces are up to isometry the surfaces R(u,v) = (Au, Bu, Cu + D cos 2u) + v (sin u, cos u, 0), where A, B, C, D are fixed real numbers. To achieve invariance under Laguerre transformations, we also derive all Laguerre minimal surfaces that are enveloped by a family of cones. The methodology is based on the isotropic model of Laguerre geometry. In this model a Laguerre minimal surface enveloped by a family of cones corresponds to a graph of a biharmonic function carrying a family of isotropic circles. We classify such functions by showing that the top view of the family of circles is a pencil.Comment: 28 pages, 9 figures. Minor correction: missed assumption (*) added to Propositions 1-2 and Theorem 2, missed case (nested circles having nonempty envelope) added in the proof of Pencil Theorem 4, missed proof that the arcs cut off by the envelope are disjoint added in the proof of Lemma

Student Outcomes from the Collective Design and Delivery of Culturally Relevant Engineering Outreach Curricula in Rural and Appalachian Middle Schools

Middle school is a pivotal time for career choice, and research is rich with studies on how students perceive engineering, as well as corresponding intervention strategies to introduce younger students to engineering and inform their conceptions of engineering. Unfortunately, such interventions are typically not designed in culturally relevant ways. Consequently, there continues to be a lack of students entering engineering and a low level of diverse candidates for this profession. The purpose of this study was to explore how students in rural and Appalachian Virginia conceive of engineering before and after engagement with culturally relevant hands-on activities in the classroom. We used student responses to the Draw an Engineer Test (DAET), consisting of a drawing and several open-ended prompts administered before and after the set of engagements, to answer our research questions related to changes in students’ conceptions of engineering. We used this study to develop recommendations for teachers for the use of such engineering engagement practices and how to best assess their outcomes, including looking at the practicality of the DAET. Overall, we found evidence that our classroom engagements positively influenced students’ conceptions of engineering in these settings

Recent Progress in Shearlet Theory: Systematic Construction of Shearlet Dilation Groups, Characterization of Wavefront Sets, and New Embeddings

The class of generalized shearlet dilation groups has recently been developed to allow the unified treatment of various shearlet groups and associated shearlet transforms that had previously been studied on a case-by-case basis. We consider several aspects of these groups: First, their systematic construction from associative algebras, secondly, their suitability for the characterization of wavefront sets, and finally, the question of constructing embeddings into the symplectic group in a way that intertwines the quasi-regular representation with the metaplectic one. For all questions, it is possible to treat the full class of generalized shearlet groups in a comprehensive and unified way, thus generalizing known results to an infinity of new cases. Our presentation emphasizes the interplay between the algebraic structure underlying the construction of the shearlet dilation groups, the geometric properties of the dual action, and the analytic properties of the associated shearlet transforms.Comment: 28 page

Perfil hormonal em mudas Bordô/VR043-43 pós-forçagem a partir de estacas com diferentes épocas de coleta e tempos de armazenagem.

Híbridos Vitis rotundifolia (ex.: VR043-43) têm sido empregados como porta-enxertos em vinhedos com problemas de estresses bióticos, principalmente no estado de Santa Catarina. Entretanto, a produção de mudas é dificultada com estacas lignificadas, pela restrição em calogênese de enxertia e enraizamento desses genótipos.CLAUDIO DE ANDRADE BARROS, CNPUV, 29742

Qualidade de mudas de videira em pós-forçagem submetidas a aplicação de etefom, diferentes épocas de coleta e tempo de câmara fria.

A procura por mudas de videira com qualidade superior tem se intensificado ultimamente, exigindo aprimoramento no processo de produção pelos viveiristas. A cultivar Bordô (B) enxertada nos porta-enxertos P1103 (P) e VR043-43 (VR) são as combinações tradicionais utilizadas no Rio Grande do Sul e em Santa Catarina, respectivamente.Daniel Antunes Souza, 333734, CNPU

Scattered manifold-valued data approximation

ISSN:0029-599XISSN:0945-324

A smooth introduction to the wavefront set

The wavefront set provides a precise description of the singularities of a distribution. Because of its ability to control the product of distributions, the wavefront set was a key element of recent progress in renormalized quantum field theory in curved spacetime, quantum gravity, the discussion of time machines or quantum energy inequalitites. However, the wavefront set is a somewhat subtle concept whose standard definition is not easy to grasp. This paper is a step by step introduction to the wavefront set, with examples and motivation. Many different definitions and new interpretations of the wavefront set are presented. Some of them involve a Radon transform.Comment: 29 pages, 7 figure