Looking at Corporate Governance from the Investor\u27s Perspective

In an address to the Emory Corporate Governance and Accountability Review, United States Securities and Exchange Commissioner Luis A. Aguilar discusses corporate governance systems in a post-Great Recession world. By focusing on the perspective of an investor, Commissioner Aguilar analyzes topics including executive compensation, executive misconduct, say on pay, pay ratios, transparency, disclosure, shareholder voting, engagement of stockholders, and shareholder proposals. Utilizing real world examples, research, and his unique experience with the SEC, Commissioner Aguilar proposes changes to make companies more accountable to their stockholders and investors, creating a fairer corporate governance system and improving the system for all participants

Los Sangurimas, una obra narrativa polémica

Con la literatura ecuatoriana de los años treinta se produce un cambio importante, tanto en la temática como en la estructura de su narrativa. Dentro del romanticismo, durante el siglo XIX, dos escritores llaman ya la atención en este movimiento: Juan Montalvo Fiallos y Juan León Mera. El primero, por la pureza del lenguaje, el aspecto combativo de su temática y por ser precursor del modernismo. El segundo, por la calidad de su trabajo literario, al cumplir con lo cánones dictados por los maestros europeos. En el siglo XX y, dentro de la vanguardia hispanoamericana, dos escritores se imponen por lo innovador de sus enunciados: Pablo Palacio y José de la Cuadra. Palacio, al romper tabúes sociales y De la Cuadra, por tener la reputación de ser uno de los iniciadores más fuertes del realismo mágico en Sur América. Los Sangurimas, de José de la Cuadra, es una obra narrativa que describe el comportamiento de una dinastía que impone su presión. Las personas -familiares y vecinos- están sometidas al proceder hegemónico de un hombre que hace imperar su voluntad y arrasa con todo enunciado o individuo que se cruce en su camino. Esta obra denuncia y, a la vez, afirma el abuso de un caciquismo que operaba en cualquier aldea, grande o pequeña, que se convertía en víctima de este mal endémico de los siglos XIX y XX en Hispanoamérica. Asimismo, en Los Sangurimas encontramos analogías en la estructura, el tema y los personajes que están cargados de pasiones, bajo el ojo director del trópico. Todo esto para hacer hincapié y analizar el tratamiento de lo improbable, del mito y de la leyenda.In the thirties, the Ecuadorian literature experiments an important change in its themes as well as in its narrative structure. When romanticism was in vogue in the 19th Century, Two Ecuadorian writers already call our attention powerfully: Juan Montalvo for the purity of his prose, the spirited aspect of his themes and because he was a precursor of modernism. Juan León Mera, on the other hand, was highly regarded for his excellent narrative work, especially for following the norms dictated by the European masters. In the 20th Century, in the Hispanic American vanguard era two writers stand out: Pablo Palacio when he breaks social taboos and De la Cuadra one of the stronger initiators of magic realism in South America. Los Sangurimas, by José de la Cuadra, is a narrative work that describes the outrageous behavior of a dynasty. The people �family and neighbors- are submitted to one man� hegemonic power, abuses and repression are intolerable. Los Sangurimas denounce and, at the same time, affirms the cruelty of caciquismo which acted in any village, large or small, becoming an endemic characteristic of the 19th and 20th Centuries in Latin America. Likewise, in this work we find analogies in the structure, the themes, and the characters which are introduced by the geography. All this is done, with the purpose to emphasize and to analyze the improbable, the mythic and the legendary

Analytical operator solution of master equations describing phase-sensitive processes

We present a method of solving master equations which may describe, in their most general form, phase sensitive processes such as decay and amplification. We make use of the superoperator technique.Comment: 10 pages, LaTex, 3 figures, accepted for publication in International Journal of Modern Physics

Geometrical and physical properties of circumbinary discs in eccentric stellar binaries

In a previous work, we studied stable configurations for circumstellar discs in eccentric binary systems. We searched for ‘invariant loops': closed curves (analogous to stable periodic orbits in time-independent potentials) that change shape with the binary orbital phase, as test particles in them move under the influence of the binary potential. This approach allows us to identify stable configurations when pressure forces are unimportant, and dissipation acts only to prevent gas clouds from colliding with one another. We now extend this work to study the main geometrical properties of circumbinary discs. We have studied more than 100 cases with a range in eccentricity 0 ≤e≤ 0.9 and mass ratio 0.1 ≤q≤ 0.9. Although gas dynamics may impose further restrictions, our study sets lower stable bounds for the size of the central hole in a simple and computationally cheap way, with a relation that depends on the eccentricity and mass ratio of the central binary. We extend our previous studies and focus on an important component of these systems: circumbinary discs. The radii for stable orbits that can host gas in circumbinary discs are sharply constrained as a function of the binary's eccentricity. The circumbinary disc configurations are almost circular, with eccentricity ed < 0.15, but if the mass ratio is unequal the disc is offset from the centre of mass of the system. We compare our results with other models, and with observations of specific systems like GG Tauri A, UY Aurigae, HD 98800 B, and Fomalhaut, restricting the plausible parameters for the binar

“proyecto para la implementación de plantación de flores tropicales para la exportación y comercialización interna mediante página web”

El proyecto se trata del establecimiento de una plantación de 8 hectáreas de flores tropicales específicamente Heliconias y Gingers, la misma que estará ubicada en el cantón Santo Domingo de los Colorados perteneciente a la provincia de Santo Domingo de los Tsáchilas, Ecuador. La ciudad es conocida por poseer un clima tropical húmedo, óptimo para este tipo de cultivos. La producción en su totalidad será exportada directamente hacia los países de destino para ingresar con un precio más competitivo ya que no se utilizarán intermediarios. Las flores de segunda se destinarán al mercado interno, las que se comercializarán mediante una página web con arreglos florales elaborados. El proyecto conlleva el establecimiento de la plantación, esto incluye la adquisición del terreno, maquinarias, insumos, recurso humano y capital y la comercialización del producto. Los productos que ofreceremos serán flores exóticas de la familia de las Heliconias y Gingers caracterizados por sus formas atractivas y colores peculiares con una calidad muy alta y producida bajo buenas prácticas agrícolas y aplicando avances tecnológicos reduciendo al máximo los riesgos de contaminación y agilizando los procesos. Nuestro mercado objetivo será Estados Unidos principalmente el estado de La Florida. Cabe recalcar que el proyecto tendrá un impacto social positivo en zona ya que para su operación demanda mano de obra directa e indirecta de hombres y mujeres campesinos de entre 18 y 35 años

Circumstellar and Circumbinary Disks in Eccentric Stellar Binaries

We explore test particle orbits in the orbital plane of eccentric stellar binary systems, searching for ``invariant loops'': closed curves that change shape periodically as a function of binary orbital phase as the test particles in them move under the stars' gravity. Stable invariant loops play the same role in this periodically-varying potential as stable periodic orbits do in stationary potentials; in particular, when dissipation is weak, gas will most likely follow the non-intersecting loops, while nearby particle orbits librate around them. We use this method to set bounds on the sizes of disks around the stars, and on the gap between those and the inner edge of a possible circumbinary disk. Gas dynamics may impose further restrictions, but our study sets upper bounds for the size of circumstellar disks, and a lower bound for the inner radius of a circumbinary disk. We find that circumstellar disks are sharply reduced as the binary's eccentricity grows. Disks change in size and shape only marginally with the binary phase, with no strong preference to increase or decrease at any particular phase. The circumstellar disks in particular can be quite asymmetric. We compare our results with other numerical and theoretical results and with observations of the $\alpha$ Centauri and L1551 systems, finding very good agreement. The calculated changes in the shapes and crowding of the circumstellar orbits can be used to predict how the disk luminosity and mass inflow should vary with binary phase.Comment: 11 pages, submitted to MNRA