Short Term Topological Changes of Coronal Holes Associated with Prominence Eruptions and Subsequent CMEs

We study the short--term topological changes of equatorial and polar coronal hole (CH) boundaries, such as a variation of their area and disintegration, associated to reconnection with nearby (within 15$^\circ$ distance) quiescent prominence magnetic fields leading to eruptions and subsequent Coronal Mass Ejections (CMEs). The examples presented here correspond to the recent solar minimum years 2008 and 2009. We consider a temporal window of one day between the CH topological changes and the start and end times of prominence eruptions and onset of CMEs. To establish this association we took into account observational conditions related to the instability of prominence/filaments, the occurrence of a CME, as well as the subsequent evolution after the CME. We found an association between short--term local topological changes in CH boundaries and the formation/disappearance of bright points near them, as well as, between short--term topological changes within the whole CH and eruptions of nearby quiescent prominences followed by the appearance of one or more CMEs.Comment: 15 pages, 11 figures; Journal Advances Space Research (2012

Corporate Valuation and Governance: Evidence from Colombia

We examine for the first time the association of different measures of ownership and control, and separation ratios with firm’s value and performance for 108 non-financial firms that traded their stock during the period 1998 to 2002. We found that large blockholders exert a positive influence upon firm’s valuation and performance, which validates the positive monitoring approach of large shareholders, but also found that this relation is not monotone implying that when separation of control and ownership tends to increase, a negative effect is exerted on firm’s valuation. Furthermore, we report first estimates of a survey of corporate governance practices conducted in 2004 for 43 Colombian non-financial companies. The index’s scores suggest that implementation of good governance in Colombian firms has been slow and poor as measured by the average of the Index that is below half the maximum attainable value. Regrettably, we did not find any support to recent theories that predict a positive association between good governance practices, measured by the CGI, and performance. At most there exists a positive relationship for sub-index but the results were not statistically significant in general.Ownership, Control, Corporate Governance, Colombia

Corporate Valuation and Governance: Evidence from Colombia

This paper examines for the first time the association of different ownership and control measures and separation ratios with a firm`s value and performance for 108 non-financial firms that traded their stock during the period 1998 to 2002. Large blockholders were found to exert a positive influence upon a firm`s valuation and performance, which validates the positive monitoring approach of large shareholders, but it was also found that this relationship is not monotonic, implying that when separation of control and ownership tends to increase, a negative effect is exerted on firm`s valuation. This paper also reports the first estimates of a survey of corporate governance practices conducted in 2004 for 43 Colombian non-financial companies. The corporate governance index`s (CGI) scores suggest that implementation of good governance in Colombian firms has been slow and poor, as measured by an index average that is below half the maximum attainable value. Regrettably, it was not possible to find any support to recent theories that predict a positive association between good governance practices -as measured by the CGI - and performance. At most, there exists a positive relationship for the sub-index, but the results were not statistically significant in general.

Corporate Governance and Firm Valuation in Colombia

This paper studies the separation of ownership and control of 108 listed companies in Colombia from 1996 to 2002, finding that voting rights are greater than cash flow rights because of indirect ownership across firms. The paper also examines the association of various ownership and control measures and separation ratios with a firm’s value and performance for the same sample of companies that traded their stock from 1998 to 2002. Large blockholders were found to exert a positive influence upon a firm’s valuation and performance, which validates the positive monitoring approach of large shareholders, but this relationship is not monotonic. The paper further reports results from a 2004 survey which suggests that Colombian firms have been slow to improve their corporate governance practices.

A firm-level analysis of ICT adoption in an emerging economy: evidence from the colombian manufacturing industries

This study examines ICT adoption among 3,759 Colombian manufacturing firms, and attemptsto identify the factors that are conducive to the adoption and usage of ICT at the firm level. Ourmajor findings are (i) that the adoption of a given information and communication technology isbetter facilitated when a firm is relatively large, has large human capital, engages in moreinnovative activities, and when a firm´s organizational structure is better aligned with the giventechnology; (ii) that positive associations between the key determinants and ICT adoptions aremore pronounced for small and medium-sized firms than for large ones, and (iii) that informationspillovers within industries is also a determinant of ICT adoptions by the firms.ICT adoption, Internet, Innovation, Organizational change