Does Firm Volatility Affect Managerial Influence

The aim of this paper is to develop and test a new theory that firm volatility can affect managerial output. Theoretical underpinnings for the hypothesis are developed and drawn from the existent literature. This hypothesis is then tested with data from 3,296 companies listed on the Korea Stock Exchange (KSE) from 1999 through 2008. The theory and the empirical results in this paper suggest that the effect of managers on firm performance differs with the degree of firm volatility. We find that a higher ratio of directors from top-ranking academic institutions leads to an increase in market value when firms suffer high volatility. Moreover, these results suggest that the interaction between executive characteristics and firm volatility has important consequences for firm performance. The findings expand our view of firm volatility to previous studies. Keywords Volatility, Managerial Influence, Firm performanc

Batalin-Tyutin Quantization of the Chiral Schwinger Model

We quantize the chiral Schwinger Model by using the Batalin-Tyutin formalism. We show that one can systematically construct the first class constraints and the desired involutive Hamiltonian, which naturally generates all secondary constraints. For $a>1$, this Hamiltonian gives the gauge invariant Lagrangian including the well-known Wess-Zumino terms, while for $a=1$ the corresponding Lagrangian has the additional new type of the Wess-Zumino terms, which are irrelevant to the gauge symmetry.Comment: 15 pages, latex, no figures, to be published in Z. Phys. C (1995

Directional interacting whispering gallery modes in coupled dielectric microdisks

We study the optical interaction in a coupled dielectric microdisks by investigating the splitting of resonance positions of interacting whispering gallery modes (WGMs) and their pattern change, depending on the distance between the microdisks. It is shown that the interaction between the WGMs with odd parity about y-axis becomes appreciable at a distance less than a wavelength and causes directional emissions of the resulting interacting WGMs. The directionality of the interacting WGMs can be understood in terms of an effective boundary deformation in ray dynamical analysis. We also discuss about the oscillation of the splitting when the distance is greater than a wavelength.Comment: 7 pages, 10 figure

The Effects of Celebrity-Brand Congruence and Publicity on Consumer Attitudes, Buying Intention, and Loyalty

Celebrities have been used for decades as a marketing tool to endorse brands or products. However, once a direct link has been formed from a celebrity to a brand, the negative information about the celebrity may reflect back on to the endorsed brand. Applying the balance theory, the purpose of this study was to investigate the effects of celebrity-brand congruence and publicity on consumers\u27 attitudes toward the celebrity and brand as well as their buying intention and loyalty. A survey with 2(congruence vs. incongruence)×2(positive vs. negative publicity) experimental design was conducted and a total of 105 usable data from generation Y female consumers were collected. The study revealed that consumers tend to like and be loyal to the brand/product when there is a celebrity-brand congruence and positive publicity. Interestingly, the congruence was found to be more important influencer to motivate consumers to purchase a brand than publicity