Employee Stock Options: A Standard Setting Saga

In this case, you will examine one of the most dramatic standard-setting sagas of our time: the setting of accounting standards related to employee stock options (ESOs). In particular, you will explore the important issues addressed by each standard, as well as the subsequent challenges that developed—which, in turn, led to the issuance of even more accounting guidance

Theory And Practice In CEO Pay: A Course Module And Integrative Case Based On Boeing Inc.

Business students may dream of receiving pay packages like that of Michael Eisner at Disney. However, many of them will work for the compensation consultant who determines the economics of the pay arrangements, for the valuation consultant who values the different components of the pay arrangements, for the accountant who must audit the financial statement impacts of the pay arrangements, or as a manager in the company whose employees respond to the incentives provided by the pay arrangements. No matter their eventual role, it is critical that every student understands these various aspects of executive pay arrangements, and how these practices have evolved over time. The course module presented herein is designed to effectively integrate these perspectives in as few as five or as many as nine 80-minute sessions that could be a substantive component of an MBA or Master of Accounting capstone course, or a component of a corporate governance elective. A case based on the CEO compensation of Boeing Inc. over the last 60 years provides a series of assignments that effectively integrate the module

The Uncovered Interest Rate Parity Anomaly And Foreign Exchange Market Turnover

The uncovered interest rate parity (UIP) anomaly is that high interest rate currencies appreciate, rather than depreciate, against low interest rate currencies. We show that the UIP anomalies apparent in six major currency pairs have diminished over our 1995-2010 sample period. We further show that the observed decline in deviations from UIP is associated with the substantially higher transaction volume now present in the foreign exchange markets. We interpret our findings as consistent with the proposition that the UIP anomaly dissipates as the foreign exchange markets become more efficient

Calcium-Sensing Receptor Regulates Cytosolic [Ca 2+ ] and Plays a Major Role in the Development of Pulmonary Hypertension.

Pulmonary arterial hypertension (PAH) is a progressive disease characterized by elevated pulmonary vascular resistance (PVR) leading to right heart failure and premature death. The increased PVR results in part from pulmonary vascular remodeling and sustained pulmonary vasoconstriction. Excessive pulmonary vascular remodeling stems from increased pulmonary arterial smooth muscle cell (PASMC) proliferation and decreased PASMC apoptosis. A rise in cytosolic free Ca2+ concentration ([Ca2+]cyt) in PASMC is a major trigger for pulmonary vasoconstriction and a key stimulus for PASMC proliferation and migration, both contributing to the development of pulmonary vascular remodeling. PASMC from patients with idiopathic PAH (IPAH) have increased resting [Ca2+]cyt and enhanced Ca2+ influx. Enhanced Ca2+ entry into PASMC due to upregulation of membrane receptors and/or Ca2+ channels may contribute to PASMC contraction and proliferation and to pulmonary vasoconstriction and pulmonary vascular remodeling. We have shown that the extracellular Ca2+-sensing receptor (CaSR), which is a member of G protein-coupled receptor (GPCR) subfamily C, is upregulated, and the extracellular Ca2+-induced increase in [Ca2+]cyt is enhanced in PASMC from patients with IPAH in comparison to PASMC from normal subjects. Pharmacologically blockade of CaSR significantly attenuate the development and progression of experimental pulmonary hypertension in animals. Additionally, we have demonstrated that dihydropyridine Ca2+ channel blockers (e.g., nifedipine), which are used to treat PAH patients but are only effective in 15-20% of patients, activate CaSR resulting in an increase in [Ca2+]cyt in IPAH-PASMC, but not normal PASMC. Our data indicate that CaSR functionally couples with transient receptor potential canonical (TRPC) channels to mediate extracellular Ca2+-induced Ca2+ influx and increase in [Ca2+]cyt in IPAH-PASMC. Upregulated CaSR is necessary for the enhanced extracellular Ca2+-induced increase in [Ca2+]cyt and the augmented proliferation of PASMC in patients with IPAH. This review will highlight the pathogenic role of CaSR in the development and progression of PAH

Teaching the Acceptance of Diversity: an Ant-Bias Education Initiative that Empowers Student Leaders to be the Agents of Change

Thesis advisor: Elizabeth TwomeyAs our world continues to evolve as a global community, schools must prepare students to live, work, and thrive in a diverse society. Teaching the acceptance of diversity to our students is a significant step in building a safe and peaceful culture within our school communities. Teaching the acceptance of diversity to a generation of young people is a significant step in building a peaceful world. This qualitative case study examined an anti-bias education initiative that empowered students to become leaders and activists in their high school. The findings of this study revealed that the diversity education initiative did not have an immediate impact on school culture, but the students who took active leadership roles encountered a transformational experience. The student leaders demonstrated substantial growth in the skills and understandings essential to anti-bias activism. Significant to this development was heightened awareness of discriminatory language and behavior, a more comprehensive view of diversity and its role in community, and the ability to engage peers in dialogue about challenging diversity topics. In a dialogic exploration of individual differences, student leaders discovered the commonality that connects all humanity. This insight led them to affirm individual identity, to conceptualize the richness that diversity adds to community, and ultimately to embrace diversity as fundamental to community. The findings of this study point to the incremental nature of school culture change and the need to institutionalize a diversity education/student leader effort as a long-term initiative in order to achieve substantive school improvement. The findings compel educators to provide leadership opportunities for students, cultivating their ability to become productive citizen-leaders in an increasingly global community. This is the subject matter of their lives, an authentic curriculum that activates their knowledge, their ability, and their responsibility to transform their world (Starratt, 2008). This dissertation captures the lived experiences of a group of students who led this diversity education initiative, and how their reflections inform educational policy, practice, and leadership.Thesis (EdD) — Boston College, 2009.Submitted to: Boston College. Lynch School of Education.Discipline: Educational Administration

Understory Plant Responses to Uneven-Aged Forestry

In northern hardwood-conifer forests, alternatives to conventional forest management practices are being developed in order to maintain biodiversity and ecosystem functioning while providing for timber revenue generation. The understory layer of vegetation encompasses the majority of plant species diversity in forested ecosystems and may be sensitive to timber harvest disturbance. Thus, monitoring the response of forest understories to new silvicultural techniques may provide a means for evaluating their intensity. In this study, we hypothesize that i) uneven-aged, low-intensity silvicultural systems can maintain understory plant diversity and support latesuccessional species through harvest disturbance; ii) retaining and enhancing stand structural complexity can increase understory plant diversity in northern hardwoodconifer forests; and iii) plant responses are influenced by interactions between canopy structure, soils, and exogenous climate processes. Experimental treatments include two conventional uneven-aged prescriptions (single-tree selection and group selection) modified to increase structural retention, and a third technique designed to promote late-successional forest structure and function, termed structural complexity enhancement (SCE). Four replications of each treatment were applied to 2 ha management units at three sites in Vermont and New York, U.S.A. Understory vegetation was monitored over 2 years pre- and 4 years post-treatment. We used a linear mixed effects model to evaluate the effects of treatment, soil properties, and drought stress on understory diversity and abundance. Compositional changes among treatments were assessed with non-metric multidimensional scaling (NMS), an ordination technique. Model results show that over time, understory responses were strongly affected by overstory treatment and less influenced by soil chemistry and drought stress. All treatments were successful in maintaining overall composition and diversity. However, late-successional diversity increased significantly in SCE units compared to group selection units. These results indicate that while conventional uneven-aged systems are capable of maintaining understory plant diversity, variations that retain or enhance structural complexity may be more efficient at retaining latesuccessional species. Increased microsite heterogeneity as a result of these techniques may also increase understory plant diversity, at least during the initial post-harvest recovery period

Inadequate Decontamination Procedures: Sepsis Following Uneventful Endoscopy

Exogenous infection following endoscopy remains rare, however, recent attention in the media and the rise of antibacterial resistant strains of bacteria have emphasized the importance of proper sterilization techniques involved in the reprocessing of endoscopes and accessory devices. This chapter serves as comprehensive review into the epidemiology of exogenous infections as well as basic reprocessing techniques and guidelines for all medical professionals that treat patients that would benefit from endoscopy

Accounting For Employee Stock Options With Service, Performance, And Market Conditions

The accounting for employee stock options has long been a subject of debate among executives, regulators, and standard-setters. The accounting standard passed by the Financial Accounting Standards Board (FASB) in 2004 allows for more creative design of these types of options. In this case, students learn about employee stock options with service, performance, and market conditions. They also learn how to value options with these conditions, and how to report them on company income statements under the new accounting guidance