Corporate Governance and Transparency: A Research Study Investigating CEO Duality in Fortune Ranked Companies

The fiduciary oversight expected from the board of directors has intensified because of corporate scandals of corruption and fraudulent financial reporting within the US. The Federal Government, Securities and Exchange Commission, American stock exchanges, and shareholders are demanding corporate transparency in these matters. This longitudinal study examines CEO duality of the largest firms in the US as a whole and by industry sector. Concentrating on the agency theory, this paper investigates the two-tier compliance status within the largest 500 firms in the US, as reported by Fortune Magazine in 2008 and 2010. This study seeks to reveal the degree to which CEO duality roles exist today in large US publicly traded corporations. The investigation began by reviewing the 2008 CEO duality status. Further analysis incorporated the 2010 top 500 revenue-generating firms in the US. The combination of titles held by CEOs remained consistent from 2008 to 2010. However, in 2008, CEO/Chairman title ranked first and it ranked third in 2010, which is a 68.4 percent decrease from 2008 to 2010. Further review reveals CEO/President title witnessed a 110 percent increase from 2008 to 2010 and ranks first in 2010. The 2010 increase in CEO/President titles and a decrease in CEO/Chairman titles are consistent with the principal-agency theory. There is a gap within the existing literature addressing the current governance trends within large US companies in order to heighten corporate disclosure and transparency. This research study can have global implications because of the internationalization of capital markets and the volume of cross-listings

An Empirical Investigation Focusing on the Composition and Performance of the Fortune 500

Each year Fortune Magazine categorizes American corporations into a snapshot view of how each performed in the previous year. The list compiles the top 500 companies based upon revenue. The following article looks closer at the NAICS industry sectors that make up the 2008 Fortune 500 list and the performance level of each sector represented using multiple dimensions of analysis. This research investigates the 2008 Fortune 500 companies in terms of their NAICS industry sector, geography, revenue generation, and profitability. The study further explores employment levels and labor productivity within and across sectors. Additionally, the education levels attained by the top executive are revealed. Finally, the report compares industry sectors in an effort to better understand the composition of the 2008 Fortune 500 list and its contribution to the American economy as a whole

Search for the exotic Θ+\Theta^+ resonance in the NOMAD experiment

A search for exotic Theta baryon via Theta -> proton +Ks decay mode in the NOMAD muon neutrino DIS data is reported. The special background generation procedure was developed. The proton identification criteria are tuned to maximize the sensitivity to the Theta signal as a function of xF which allows to study the Theta production mechanism. We do not observe any evidence for the Theta state in the NOMAD data. We provide an upper limit on Theta production rate at 90% CL as 2.13 per 1000 of neutrino interactions.Comment: Accepted to European Physics Journal

Prediction of Neutrino Fluxes in the NOMAD Experiment

The method developed for the calculation of the flux and composition of the West Area Neutrino Beam used by NOMAD in its search for neutrino oscillations is described. The calculation is based on particle production rates computed using a recent version of FLUKA and modified to take into account the cross sections measured by the SPY and NA20 experiments. These particles are propagated through the beam line taking into account the material and magnetic fields they traverse. The neutrinos produced through their decays are tracked to the NOMAD detector. The fluxes of the four neutrino flavours at NOMAD are predicted with an uncertainty of about 8% for nu(mu) and nu(e), 10% for antinu(mu), and 12% for antinu(e). The energy-dependent uncertainty achieved on the R(e, mu) prediction needed for a nu(mu)->nu(e) oscillation search ranges from 4% to 7%, whereas the overall normalization uncertainty on this ratio is 4.2%.Comment: 43 pages, 20 figures. Submitted to Nucl. Phys.

Final NOMAD results on nu_mu->nu_tau and nu_e->nu_tau oscillations including a new search for nu_tau appearance using hadronic tau decays

Results from the nu_tau appearance search in a neutrino beam using the full NOMAD data sample are reported. A new analysis unifies all the hadronic tau decays, significantly improving the overall sensitivity of the experiment to oscillations. The "blind analysis" of all topologies yields no evidence for an oscillation signal. In the two-family oscillation scenario, this sets a 90% C.L. allowed region in the sin^2(2theta)-Delta m^2 plane which includes sin^2(2theta)<3.3 x 10^{-4} at large Delta m^2 and Delta m^2 < 0.7 eV^2/c^4 at sin^2(2theta)=1. The corresponding contour in the nu_e->nu_tau oscillation hypothesis results in sin^2(2theta)<1.5 x 10^{-2} at large Delta m^2 and Delta m^2 < 5.9 eV^2/c^4 at sin^2(2theta)=1. We also derive limits on effective couplings of the tau lepton to nu_mu or nu_e.Comment: 46 pages, 16 figures, Latex, to appear on Nucl. Phys.

A study of backward going pp and π−\pi^{-} in νμCC\nu_{\mu}CC interactions with the NOMAD detector

Backward proton and $\pi^-$ production has been studied in $\nu_{\mu}CC$ interactions with carbon nuclei. Detailed analyses of the momentum distributions, of the production rates, and of the general features of events with a backward going particle, have been carried out in order to understand the mechanism producing these particles. The backward proton data have been compared with the predictions of the reinteraction and the short range correlation models.Comment: 29 pages, 14 figures, submitted to Nucl. Phys.

Inclusive production of ρ0(770),f0(980)\rho^{0}(770), f_0(980) and f2(1270)f_2(1270) mesons in νμ\nu_{\mu} charged current interactions

The inclusive production of the meson resonances $\rho^{0}(770)$, $f_0(980)$ and $f_2(1270)$ in neutrino-nucleus charged current interactions has been studied with the NOMAD detector exposed to the wide band neutrino beam generated by 450 GeV protons at the CERN SPS. For the first time the $f_{0}(980)$ meson is observed in neutrino interactions. The statistical significance of its observation is 6 standard deviations. The presence of $f_{2}(1270)$ in neutrino interactions is reliably established. The average multiplicity of these three resonances is measured as a function of several kinematic variables. The experimental results are compared to the multiplicities obtained from a simulation based on the Lund model. In addition, the average multiplicity of $\rho^{0}(770)$ in antineutrino - nucleus interactions is measured.Comment: 23 pages, 14 figures, 8 tables. To appear in Nucl. Phys.

Search for nu(mu)-->nu(e) Oscillations in the NOMAD Experiment

We present the results of a search for nu(mu)-->nu(e) oscillations in the NOMAD experiment at CERN. The experiment looked for the appearance of nu(e) in a predominantly nu(mu) wide-band neutrino beam at the CERN SPS. No evidence for oscillations was found. The 90% confidence limits obtained are delta m^2 < 0.4 eV^2 for maximal mixing and sin^2(2theta) < 1.4x10^{-3} for large delta m^2. This result excludes the LSND allowed region of oscillation parameters with delta m^2 > 10 eV^2.Comment: 19 pages, 8 figures. Submitted to Phys. Lett.

A Study of Strange Particles Produced in Neutrino Neutral Current Interactions in the NOMAD Experiment

Results of a detailed study of strange particle production in neutrino neutral current interactions are presented using the data from the NOMAD experiment. Integral yields of neutral strange particles (K0s, Lambda, Lambda-bar) have been measured. Decays of resonances and heavy hyperons with an identified K0s or Lambda in the final state have been analyzed. Clear signals corresponding to K* and Sigma(1385) have been observed. First results on the measurements of the Lambda polarization in neutral current interactions have been obtained.Comment: Accepted for publication in Nuclear Physics B as a rapid communicatio

Search for heavy neutrinos mixing with tau neutrinos

We report on a search for heavy neutrinos (\nus) produced in the decay D_s\to \tau \nus at the SPS proton target followed by the decay \nudecay in the NOMAD detector. Both decays are expected to occur if \nus is a component of $\nu_{\tau}$.\ From the analysis of the data collected during the 1996-1998 runs with $4.1\times10^{19}$ protons on target, a single candidate event consistent with background expectations was found. This allows to derive an upper limit on the mixing strength between the heavy neutrino and the tau neutrino in the \nus mass range from 10 to 190 $\rm MeV$. Windows between the SN1987a and Big Bang Nucleosynthesis lower limits and our result are still open for future experimental searches. The results obtained are used to constrain an interpretation of the time anomaly observed in the KARMEN1 detector.\Comment: 20 pages, 7 figures, a few comments adde