Corporate Governance, Corporate and Employment Law, and the Costs of Expropriation

We set up a model to study how ownership structure, corporate law and employment law interact to set the incentives that influence the decision by the large shareholder or manager effectively controlling the firm to divert resources from minority shareholders and employees. We suggest that agency problems between the controller and other investors and holdup problems between shareholders and employees are connected if the controller bears private costs of “expropriating” these groups. Corporate law and employment law may therefore somethimes be substitutes; employees may benefit from better corporate law intended to protect minority shareholder, and viceversa. Our model has implications for the domestic and comparative study of corporate governance structure and addresses, among other things, the question whether large shareholders are better able to “bond” with employees than dispersed ones, or whether the separation of ownership facilitates longterm relationships with labor.

On non-isomorphic biminimal pots realizing the cube

In this paper, we disprove a conjecture recently proposed in [L. Almodovar et al., arXiv:2108.00035] on the non-existence of biminimal pots realizing the cube, namely pots with the minimum number of tiles and the minimum number of bond-edge types. In particular, we present two biminimal pots realizing the cube and show that these two pots are unique up to isomorphisms

Benthic trophic interactions in an Antarctic shallow water ecosystem affected by recent glacier retreat

The western Antarctic Peninsula is experiencing strong environmental changes as a consequence of ongoing regional warming. Glaciers in the area are retreating rapidly and increased sediment-laden meltwater runoff threatens the benthic biodiversity at shallow depths. We identified three sites with a distinct glacier-retreat related history and different levels of glacial influence in the inner part of Potter Cove (King George Island, South Shetland Islands), a fjord-like embayment impacted since the 1950s by a tidewater glacier retreat. We compared the soft sediment meio- and macrofauna isotopic niche widths (d13C and d15N stable isotope analysis) at the three sites to investigate possible glacier retreat-related influences on benthic trophic interactions. The isotopic niches were locally shaped by the different degrees of glacier retreat-related disturbance within the Cove. Wider isotopic niche widths were found at the site that has become ice-free most recently, and narrower niches at the older ice-free sites. At an intermediate state of glacier retreat-related disturbance (e.g. via ice-growler scouring) species with different strategies could settle. The site at the earliest stage of post-retreat development was characterized by an assemblage with lower trophic redundancy. Generally, the isotopic niche widths increased with increasing size spectra of organisms within the community, excepting the youngest assemblage, where the pioneer colonizer meiofauna size class displayed the highest isotopic niche width. Meiofauna at all sites generally occupied positions in the isotopic space that suggested a detrital-pool food source and/or the presence of predatory taxa. In general ice scour and glacial impact appeared to play a two-fold role within the Cove: i) either stimulating trophic diversity by allowing continuous re-colonization of meiofaunal species or, ii) over time driving the benthic assemblages into a more compact trophic structure with increased connectedness and resource recycling

Using Virtual Reality to Rehabilitate Neglect

Purpose: Virtual Reality (VR) platforms gained a lot of attention in the rehabilitation field due to their ability to engage patients and the opportunity they offer to use real world scenarios. As neglect is characterized by an impairment in exploring space that greatly affects daily living, VR could be a powerful tool compared to classical paper and pencil tasks and computer training. Nevertheless, available platforms are costly and obstructive. Here we describe a low cost platform for neglect rehabilitation, that using consumer equipments allows the patient to train at home in an intensive fashion. Method: We tested the platform on IB, a chronic neglect patient, who did not benefit from classical rehabilitation. Results: Our results show that IB improved both in terms of neglect and attention. Importantly, these ameliorations lasted at a follow up evaluation 5 months after the last treatment session and generalized to everyday life activities. Conclusions: VR platforms built using equipment technology and following theoretical principles on brain functioning may induce greater ameliorations in visuo-spatial deficits than classical paradigms possibly thanks to the real world scenarios in association with the "visual feedback" of the patient's own body operating in the virtual environmen

Lag-luminosity relation in gamma-ray burst X-ray flares: a direct link to the prompt emission

The temporal and spectral analysis of 9 bright X-ray flares out of a sample of 113 flares observed by Swift reveals that the flare phenomenology is strictly analogous to the prompt gamma-ray emission: high energy flare profiles rise faster, decay faster and peak before the low energy emission. However, flares and prompt pulses differ in one crucial aspect: flares evolve with time. As time proceeds flares become wider, with larger peak lag, lower luminosities and softer emission. The flare spectral peak energy E_{p,i} evolves to lower values following an exponential decay which tracks the decay of the flare flux. The two flares with best statistics show higher than expected isotropic energy E_{iso} and peak luminosity L_{p,iso} when compared to the E_{p,i}-E_{iso} and E_{p,i}-L_{iso} prompt correlations. E_{p,i} is found to correlate with L_{iso} within single flares, giving rise to a time resolved E_{p,i}(t)-L_{iso}(t). Like prompt pulses, flares define a lag-luminosity relation: L_{p,iso}^{0.3-10 keV} t_{lag}^{-0.95+/-0.23}. The lag-luminosity is proven to be a fundamental law extending 5 decades in time and 5 in energy. Moreover, this is direct evidence that GRB X-ray flares and prompt gamma-ray pulses are produced by the same mechanism. Finally we establish a flare-afterglow morphology connection: flares are preferentially detected superimposed to one-break or canonical X-ray afterglows.Comment: MNRAS accepte

A novel LMNA mutation (R189W) in familial dilated cardiomyopathy: evidence for a 'hot spot' region at exon 3: a case report

We describe a case of a patient with idiopathic dilated cardiomyopathy and cardiac conduction abnormalities who presented a strong family history of sudden cardiac death. Genetic screening of lamin A/C gene revealed in proband the presence of a novel missense mutation (R189W), near the most prevalent lamin A/C mutation (R190W), suggesting a "hot spot" region at exon 3

The intrapreneurial state: Singapore's emergence in the smart and sustainable urban solutions field

The East Asian developmental state model and the Anglo-American entrepreneurial state model profile varied ways in which the state continues to intervene in economic development. These models are developed by different disciplines and against diverse contexts to capture extrasocietal state responses to neoliberalism and globalization but leave the intrasocietal preconditions for state evolution little explored. We elaborate the concept of state intrapreneurialism as one way of understanding the interrelationship between economic and state transformation – one ingredient of the intrasocietal preconditions underpinning the responses to extrasocietal changes emphasized in the post-developmental state literature. Drawing on the case of Singapore's emergence in the field of smart/sustainable urban solutions, the subsidiary contributions of this paper are to suggest intrapreneurship as a specific and enduring advantage within the developmental state model, especially when set against its limitations signalled in the post-developmental state literature

Unveiling the origin of X-ray flares in Gamma-Ray Bursts

We present an updated catalog of 113 X-ray flares detected by Swift in the ~33% of the X-ray afterglows of Gamma-Ray Bursts (GRB). 43 flares have a measured redshift. For the first time the analysis is performed in 4 different X-ray energy bands, allowing us to constrain the evolution of the flare temporal properties with energy. We find that flares are narrower at higher energies: their width follows a power-law relation w~E^{-0.5} reminiscent of the prompt emission. Flares are asymmetric structures, with a decay time which is twice the rise time on average. Both time scales linearly evolve with time, giving rise to a constant rise-to-decay ratio: this implies that both time scales are stretched by the same factor. As a consequence, the flare width linearly evolves with time to larger values: this is a key point that clearly distinguishes the flare from the GRB prompt emission. The flare 0.3-10 keV peak luminosity decreases with time, following a power-law behaviour with large scatter: L_{pk}~ t_{pk}^{-2.7}. When multiple flares are present, a global softening trend is established: each flare is on average softer than the previous one. The 0.3-10 keV isotropic energy distribution is a log-normal peaked at 10^{51} erg, with a possible excess at low energies. The flare average spectral energy distribution (SED) is found to be a power-law with spectral energy index beta~1.1. These results confirmed that the flares are tightly linked to the prompt emission. However, after considering various models we conclude that no model is currently able to account for the entire set of observations.Comment: MNRAS submitte