Ownership Concentration and Corporate Performance on the Budapest Stock Exchange: Do Too Many Cooks Spoil the Goulash?

We examine the impact of ownership concentration on firm performance using panel data for firms listed on the Budapest Stock Exchange, where ownership tends to be highly concentrated and frequently involves multiple blocks. Fixed-effects estimates imply that the l largest block increases return on assets and operating efficiency strongly and monotonically, but the effects of total blockholdings are much smaller and statistically insignificant. Controlling for the size of the largest block, point estimates of the marginal effects of additional blocks are negative. The results suggest that the marginal costs of concentration may outweigh the benefits when the increased concentration involves "too many cooks."Budapest, stock, exchange, ownership, concentration, Earle, Upjohn

Observations of convective and dynamical instabilities in tropopause folds and their contribution to stratosphere-troposphere exchange

With aircraft-mounted in situ and remote sensing instruments for dynamical, thermal, and chemical measurements we studied two cases of tropopause folding. In both folds we found Kelvin-Helmholtz billows with horizontal wavelength of ∼900 m and thickness of ∼120 m. In one case the instability was effectively mixing the bottomside of the fold, leading to the transfer of stratospheric air into the troposphere. Also, we discovered in both cases small-scale secondary ozone maxima shortly after the aircraft ascended past the topside of the fold that corresponded to regions of convective instability. We interpreted this phenomenon as convectively breaking gravity waves. Therefore we posit that convectively breaking gravity waves acting on tropopause folds must be added to the list of important irreversible mixing mechanisms leading to stratosphere-troposphere exchange.United States. National Aeronautics and Space Administration (Grant NAG2-1105)United States. National Aeronautics and Space Administration (Grant NAGl-1758)United States. National Aeronautics and Space Administration (Grant NAGl-1901

Convective and Wave Signatures in Ozone Profiles Over the Equatorial Americas: Views from TC4 (2007) and SHADOZ

During the months of July-August 2007 NASA conducted a research campaign called the Tropical Composition, Clouds and Climate Coupling (TC4) experiment. Vertical profiles of ozone were measured daily using an instrument known as an ozonesonde, which is attached to a weather balloon and launch to altitudes in excess of 30 km. These ozone profiles were measured over coastal Las Tablas, Panama (7.8N, 80W) and several times per week at Alajuela, Costa Rica (ION, 84W). Meteorological systems in the form of waves, detected most prominently in 100- 300 in thick ozone layer in the tropical tropopause layer, occurred in 50% (Las Tablas) and 40% (Alajuela) of the soundings. These layers, associated with vertical displacements and classified as gravity waves ("GW," possibly Kelvin waves), occur with similar stricture and frequency over the Paramaribo (5.8N, 55W) and San Cristobal (0.925, 90W) sites of the Southern Hemisphere Additional Ozonesondes (SHADOZ) network. The gravity wave labeled layers in individual soundings correspond to cloud outflow as indicated by the tracers measured from the NASA DC-8 and other aircraft data, confirming convective initiation of equatorial waves. Layers representing quasi-horizontal displacements, referred to as Rossby waves, are robust features in soundings from 23 July to 5 August. The features associated with Rossby waves correspond to extra-tropical influence, possibly stratospheric, and sometimes to pollution transport. Comparison of Las Tablas and Alajuela ozone budgets with 1999-2007 Paramaribo and San Cristobal soundings shows that TC4 is typical of climatology for the equatorial Americas. Overall during TC4, convection and associated meteorological waves appear to dominate ozone transport in the tropical tropopause layer

Racial mindfulness : exploring the influence of mindfulness on racial biases

textWe disbelieve it; we deny it; we even disguise it; but racial prejudice continues to permeate the United States. As a result, researchers labor to determine variables that can reduce these attitudes and consequently, improve social behavior. Three confirmed conditions that can reduce racial attitudes include: (a) awareness to racial biases, (b) motivation for bias reduction, and (c) cognitive strategies for prejudice regulation. However, racial awareness are usually nonexistent for White Americans, and when introduced, racial awareness can cause negative outcomes, such as guilt or denial, that can decrease motivation to reduce one’s prejudice levels. The construct and practices of mindfulness may provide a solution to these limitations and help reduce racial prejudice levels for White individuals. The present dissertation explored the initial steps of this racial mindfulness program of research by first investigating the influence of White participants' degree of mindfulness on their racial prejudice levels using structural equation modeling. Because mindfulness can increase awareness to stimuli, mindfulness could meet the first prejudice reduction condition (i.e., raise awareness to racial stimuli), and therefore, reduce racial prejudice levels directly. In addition, mindfulness has been found to increase similar variables that influences motivation to reduce racial prejudice levels, such as empathy and interconnectedness. Therefore, White participants’ degree of mindfulness could decrease their racial prejudice levels indirectly as well. Results from this study indicated that mindfulness did not reduce racial prejudice levels directly or indirectly, although there were some methodology limitations that could have obscured the results. The next step investigated if White participants' degree of mindfulness can attenuate the negative affects that can arise when Whites first become aware of racial biases, as mindfulness has been found to mitigate ego defensiveness and negative emotions when one's self-esteem is threatened. Written reactions to a White privilege article from White participants identified as holding a high and low degree of general mindfulness were subject to content analysis. The results indicated that participants with a high degree of mindfulness exhibited greater awareness and acceptance to White privilege and less negative reactions. The findings support the need to create and explore a racial mindfulness intervention.Educational Psycholog

Effective lecturing : what dimensions are important?

textThis study investigated the dimensions of effective lecturing by exploring students' evaluations of teaching effectiveness derived from lecture courses across 35 departments at an urban university. From exploratory and confirmatory factor analysis procedures, two underlying dimensions were revealed. The dimensions appeared analogous to Joseph Lowman's proposed two-dimensional model of mastery teaching and therefore the dimensions were labeled: Intellectual Excitement and Interpersonal Rapport. Afterwards, a path analysis was utilized in order to investigate the relationship of the dimensions with a global rating item of instructor effectiveness. The results indicated that the dimension of Interpersonal Rapport accounted for 81% of the variance for overall instructor (lecturer) effectiveness.Educational Psycholog

Latino and White Segregation in the Multiracial Southwest [working title]

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The Western States: Profound Diversity But Severe Segregation for Latino Students

In the following report, we present an in-depth exploration of these Western trends that are merely summarized in the corresponding larger report, E Pluribus… Separated. Major findings in the West are highlighted below.Also avaialble at http://civilrightsproject.ucla.ed

The Western States: Profound Diversity But Severe Segregation for Latino Students

In the following report, we present an in-depth exploration of these Western trends that are merely summarized in the corresponding larger report, E Pluribus… Separated. Major findings in the West are highlighted below.Also avaialble at http://civilrightsproject.ucla.ed