Extending the managerial power theory of executive pay: A cross national test

Contextual factors are typically neglected in both theorizing and empirical tests on executive pay. The fast majority of empirical investigations use data from U.S. based firms. Theoretical implications are typically developed, understood and tested on the basis of the U.S. context. However, the U.S. case is not the world wide standard. Pay in other countries is on average considerably lower and have a different pay mix. The puzzle that from the typical use of agency theory can’t be explained is the variance of pay practices that exist not only within countries but also across countries. This paper extends scholars renewed attention to managerial power theory on executive pay. It sets out how and why institutional theory must be included in explanations of executive pay. On the basis of a sample of executive pay packages from 17 different countries we test the theoretical extensions. Results indicate that institutions interact with firm level determinants of executive pay. Explanations for executive pay should therefore account for the variance of pay practices within and across countries. Highlighting that the institutional embeddedness of pay practices play an important role in finding conclusive explanations of current pay practices.Executive compensation, corporate governance, managerial discretion, power, agency theory, institutional theory

Classical and Quantum Nambu Mechanics

The classical and quantum features of Nambu mechanics are analyzed and fundamental issues are resolved. The classical theory is reviewed and developed utilizing varied examples. The quantum theory is discussed in a parallel presentation, and illustrated with detailed specific cases. Quantization is carried out with standard Hilbert space methods. With the proper physical interpretation, obtained by allowing for different time scales on different invariant sectors of a theory, the resulting non-Abelian approach to quantum Nambu mechanics is shown to be fully consistent.Comment: 44 pages, 1 figure, 1 table Minor changes to conform to journal versio

General Relativity as an Attractor in Scalar-Tensor Stochastic Inflation

Quantum fluctuations of scalar fields during inflation could determine the very large-scale structure of the universe. In the case of general scalar-tensor gravity theories these fluctuations lead to the diffusion of fundamental constants like the Planck mass and the effective Brans--Dicke parameter, $\omega$. In the particular case of Brans--Dicke gravity, where $\omega$ is constant, this leads to runaway solutions with infinitely large values of the Planck mass. However, in a theory with variable $\omega$ we find stationary probability distributions with a finite value of the Planck mass peaked at exponentially large values of $\omega$ after inflation. We conclude that general relativity is an attractor during the quantum diffusion of the fields.Comment: LaTeX (with RevTex) 11 pages, 2 uuencoded figures appended, also available on WWW via http://star.maps.susx.ac.uk/index.htm

Fluorescently labeled bacteria provide insight on post-mortem microbial transmigration

AbstractMicrobially mediated mechanisms of human decomposition begin immediately after death, and are a driving force for the conversion of a once living organism to a resource of energy and nutrients. Little is known about post-mortem microbiology in cadavers, particularly the community structure of microflora residing within the cadaver and the dynamics of these communities during decomposition. Recent work suggests these bacterial communities undergo taxa turnover and shifts in community composition throughout the post-mortem interval. In this paper we describe how the microbiome of a living host changes and transmigrates within the body after death thus linking the microbiome of a living individual to post-mortem microbiome changes. These differences in the human post-mortem from the ante-mortem microbiome have demonstrated promise as evidence in death investigations. We investigated the post-mortem structure and function dynamics of Staphylococcus aureus and Clostridium perfringens after intranasal inoculation in the animal model Mus musculus L. (mouse) to identify how transmigration of bacterial species can potentially aid in post-mortem interval estimations. S. aureus was tracked using in vivo and in vitro imaging to determine colonization routes associated with different physiological events of host decomposition, while C. perfringens was tracked using culture-based techniques. Samples were collected at discrete time intervals associated with various physiological events and host decomposition beginning at 1h and ending at 60 days post-mortem. Results suggest that S. aureus reaches its highest concentration at 5–7 days post-mortem then begins to rapidly decrease and is undetectable by culture on day 30. The ability to track these organisms as they move in to once considered sterile space may be useful for sampling during autopsy to aid in determining post-mortem interval range estimations, cause of death, and origins associated with the geographic location of human remains during death investigations

Wave scattering from self-affine surfaces

Electromagnetic wave scattering from a perfectly reflecting self-affine surface is considered. Within the framework of the Kirchhoff approximation, we show that the scattering cross section can be exactly written as a function of the scattering angle via a centered symmetric Levy distribution for general roughness amplitude, Hurst exponent and wavelength of the incident wave. The amplitude of the specular peak, its width and its position are discussed as well as the power law decrease (with scattering angle) of the scattering cross section.Comment: RevTeX, 4 pages including 2 figures. Submitted Phys. Rev. Let

Glimpses of the Octonions and Quaternions History and Todays Applications in Quantum Physics

Before we dive into the accessibility stream of nowadays indicatory applications of octonions to computer and other sciences and to quantum physics let us focus for a while on the crucially relevant events for todays revival on interest to nonassociativity. Our reflections keep wandering back to the $Brahmagupta$ $Fibonacc$ two square identity and then via the $Euler$ four square identity up to the $Degen$ $Ggraves$ $Cayley$ eight square identity. These glimpses of history incline and invite us to retell the story on how about one month after quaternions have been carved on the $Broughamian$ bridge octonions were discovered by $John$ $Thomas$ $Ggraves$, jurist and mathematician, a friend of $William$ $Rowan$ $Hamilton$. As for today we just mention en passant quaternionic and octonionic quantum mechanics, generalization of $Cauchy$ $Riemann$ equations for octonions and triality principle and $G_2$ group in spinor language in a descriptive way in order not to daunt non specialists. Relation to finite geometries is recalled and the links to the 7stones of seven sphere, seven imaginary octonions units in out of the $Plato$ cave reality applications are appointed . This way we are welcomed back to primary ideas of $Heisenberg$, $Wheeler$ and other distinguished fathers of quantum mechanics and quantum gravity foundations.Comment: 26 pages, 7 figure

Scalar GW detection with a hollow spherical antenna

We study the response and cross sections for the absorption of GW energy in a Jordan-Brans-Dicke theory by a resonant mass detector shaped as a hollow sphere.Comment: latex file, 9 page

Passing to the Limit in a Wasserstein Gradient Flow: From Diffusion to Reaction

We study a singular-limit problem arising in the modelling of chemical reactions. At finite {\epsilon} > 0, the system is described by a Fokker-Planck convection-diffusion equation with a double-well convection potential. This potential is scaled by 1/{\epsilon}, and in the limit {\epsilon} -> 0, the solution concentrates onto the two wells, resulting into a limiting system that is a pair of ordinary differential equations for the density at the two wells. This convergence has been proved in Peletier, Savar\'e, and Veneroni, SIAM Journal on Mathematical Analysis, 42(4):1805-1825, 2010, using the linear structure of the equation. In this paper we re-prove the result by using solely the Wasserstein gradient-flow structure of the system. In particular we make no use of the linearity, nor of the fact that it is a second-order system. The first key step in this approach is a reformulation of the equation as the minimization of an action functional that captures the property of being a curve of maximal slope in an integrated form. The second important step is a rescaling of space. Using only the Wasserstein gradient-flow structure, we prove that the sequence of rescaled solutions is pre-compact in an appropriate topology. We then prove a Gamma-convergence result for the functional in this topology, and we identify the limiting functional and the differential equation that it represents. A consequence of these results is that solutions of the {\epsilon}-problem converge to a solution of the limiting problem.Comment: Added two sections, corrected minor typos, updated reference

STATIONARY SOLUTIONS IN BRANS-DICKE STOCHASTIC INFLATIONARY COSMOLOGY

In Brans-Dicke theory the Universe becomes divided after inflation into many exponentially large domains with different values of the effective gravitational constant. Such a process can be described by diffusion equations for the probability of finding a certain value of the inflaton and dilaton fields in a physical volume of the Universe. For a typical chaotic inflation potential, the solutions for the probability distribution never become stationary but grow forever towards larger values of the fields. We show here that a non-minimal conformal coupling of the inflaton to the curvature scalar, as well as radiative corrections to the effective potential, may provide a dynamical cutoff and generate stationary solutions. We also analyze the possibility of large nonperturbative jumps of the fluctuating inflaton scalar field, which was recently revealed in the context of the Einstein theory. We find that in the Brans--Dicke theory the amplitude of such jumps is strongly suppressed.Comment: 19 pages, LaTe