Corporate Governance of Iconic Executives, The

The article presents information on the corporate governance challenges posed by iconic executives. It includes information on iconic executives who rule like monarchs over their firms, offering promises to shareholders, directors, and managers under their reign in order to grow their business. It includes information on the perils of iconic executives which includes overconfidence, licentiousness and excessive difference created among the employees

Corporate Governance of Iconic Executives, The

The article presents information on the corporate governance challenges posed by iconic executives. It includes information on iconic executives who rule like monarchs over their firms, offering promises to shareholders, directors, and managers under their reign in order to grow their business. It includes information on the perils of iconic executives which includes overconfidence, licentiousness and excessive difference created among the employees

A Behavioral Framework for Securities Risk

This Article provides the first critical analysis and redesign of the existing securities risk disclosure framework given new insights from the emerging, interdisciplinary field of behavioral economics. Disclosure is the principle at the heart of federal securities regulation. Beneath that core principle of disclosure is the basic assumption that the reasonable investor is the idealized über-rational person of neoclassical economic theory. Therefore, once armed with the requisite information investors presumably can protect themselves through rational choice. Descriptively, however, real investors are not like their rational, neoclassical kin. This Article examines this incongruence between the idealized rational investor and the imperfect actual investor, explores the consequences of this incongruence on risk assessment in investments, and highlights several shortcomings of risk disclosures as a result of it. Then, to address these shortcomings, this Article argues for a better capture of the advantages of disclosure-based risk regulations, and proposes a new behavioral framework for securities risk disclosure built on relative likelihood and relative impact of dynamic risks. In doing so, this Article challenges the conventional wisdom that securities risk management should be done primarily through increased government oversight and enforcement, and promotes the underappreciated utility of disclosure as a powerful, complementary risk management tool in the modern financial regulatory landscape. In advocacy of this contention, this Article closes with a discussion of key implications of the proposed framework, namely how it could improve disclosure drafting, simplify transparency, increase financial literacy, lower information costs, and enhance financial arbitrage

Executive Trade Secrets

The article presents information on the commercial secrets of corporations and the need of its legal protection against disclosure. The divergent treatment of secrets in the case of public corporations and private individuals, challenges related to executive disclosures and the privacy interests of executives are discussed. The related obligations, legal tensions and inconsistent practices are also discussed

A Behavioral Framework for Securities Risk

This Article provides the first critical analysis and redesign of the existing securities risk disclosure framework given new insights from the emerging, interdisciplinary field of behavioral economics. Disclosure is the principle at the heart of federal securities regulation. Beneath that core principle of disclosure is the basic assumption that the reasonable investor is the idealized über-rational person of neoclassical economic theory. Therefore, once armed with the requisite information investors presumably can protect themselves through rational choice. Descriptively, however, real investors are not like their rational, neoclassical kin. This Article examines this incongruence between the idealized rational investor and the imperfect actual investor, explores the consequences of this incongruence on risk assessment in investments, and highlights several shortcomings of risk disclosures as a result of it. Then, to address these shortcomings, this Article argues for a better capture of the advantages of disclosure-based risk regulations, and proposes a new behavioral framework for securities risk disclosure built on relative likelihood and relative impact of dynamic risks. In doing so, this Article challenges the conventional wisdom that securities risk management should be done primarily through increased government oversight and enforcement, and promotes the underappreciated utility of disclosure as a powerful, complementary risk management tool in the modern financial regulatory landscape. In advocacy of this contention, this Article closes with a discussion of key implications of the proposed framework, namely how it could improve disclosure drafting, simplify transparency, increase financial literacy, lower information costs, and enhance financial arbitrage

Executive Trade Secrets

The article presents information on the commercial secrets of corporations and the need of its legal protection against disclosure. The divergent treatment of secrets in the case of public corporations and private individuals, challenges related to executive disclosures and the privacy interests of executives are discussed. The related obligations, legal tensions and inconsistent practices are also discussed

Nucleon isovector structure functions in (2+1)-flavor QCD with domain wall fermions

We report on numerical lattice QCD calculations of some of the low moments of the nucleon structure functions. The calculations are carried out with gauge configurations generated by the RBC and UKQCD collaborations with (2+1)-flavors of dynamical domain wall fermions and the Iwasaki gauge action ($\beta = 2.13$). The inverse lattice spacing is $a^{-1} = 1.73$ GeV, and two spatial volumes of ((2.7{\rm fm})^3) and ((1.8 {\rm fm})^3) are used. The up and down quark masses are varied so the pion mass lies between 0.33 and 0.67 GeV while the strange mass is about 12 % heavier than the physical one. The structure function moments we present include fully non-perturbatively renormalized iso-vector quark momentum fraction, (_{u-d}), helicity fraction, (< x >_{\Delta u - \Delta d}), and transversity, (_{\delta u - \delta d}), as well as an unrenormalized twist-3 coefficient, (d_1). The ratio of the momentum to helicity fractions, (_{u-d}/_{\Delta u - \Delta d}), does not show dependence on the light quark mass and agrees well with the value obtained from experiment. Their respective absolute values, fully renormalized, show interesting trends toward their respective experimental values at the lightest quark mass. A prediction for the transversity, (0.7 _{\delta u -\delta d} < 1.1), in the (\bar{\rm MS}) scheme at 2 GeV is obtained. The twist-3 coefficient, (d_1), though yet to be renormalized, supports the perturbative Wandzura-Wilczek relation.Comment: 14 pages, 22 figures

Constitutive basal and stimulated human small bowel contractility is enhanced in obesity

Small bowel contractility may be more prominent in obese subjects, such that there is enhanced nutrient absorption and hunger stimulation. However, there is little evidence to support this. This study examined in vitro small bowel contractility in obese patients versus non-obese patients

Non-classical ProIL-1beta activation during mammary gland infection is pathogen-dependent but caspase-1 independent

Infection of the mammary gland with live bacteria elicits a pathogen-specific host inflammatory response. To study these host-pathogen interactions wild type mice, NF-kappaB reporter mice as well as caspase-1 and IL-1beta knockout mice were intramammarily challenged with Escherichia coli (E. coli) and Staphylococcus aureus (S. aureus). The murine mastitis model allowed to compare the kinetics of the induced cytokine protein profiles and their underlying pathways. In vivo and ex vivo imaging showed that E. coli rapidly induced NF-kappaB inflammatory signaling concomitant with high mammary levels of TNF-alpha, IL-1 alpha and MCP-1 as determined by multiplex analysis. In contrast, an equal number of S. aureus bacteria induced a low NF-kappaB activity concomitant with high mammary levels of the classical IL-1beta fragment. These quantitative and qualitative differences in local inflammatory mediators resulted in an earlier neutrophil influx and in a more extensive alveolar damage post-infection with E. coli compared to S. aureus. Western blot analysis revealed that the inactive proIL-1beta precursor was processed into pathogen-specific IL-1beta fragmentation patterns as confirmed with IL-1beta knockout animals. Additionally, caspase-1 knockout animals allowed to investigate whether IL-1beta maturation depended on the conventional inflammasome pathway. The lack of caspase-1 did not prevent extensive proIL-1beta fragmentation by either of S. aureus or E. coli. These non-classical IL-1beta patterns were likely caused by different proteases and suggest a sentinel function of IL-1beta during mammary gland infection. Thus, a key signaling nodule can be defined in the differential host innate immune defense upon E. coli versus S. aureus mammary gland infection, which is independent of caspase-1