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.

The seating couple problem in even case

In this paper we consider the seating couple problem with an even number of seats, which, using graph theory terminology, can be stated as follows. Given a positive even integer $v=2n$ and a list $L$ containing $n$ positive integers not exceeding $n$, is it always possible to find a perfect matching of $K_v$ whose list of edge-lengths is $L$? Up to now a (non-constructive) solution is known only when all the edge-lengths are coprime with $v$. In this paper we firstly present some necessary conditions for the existence of a solution. Then, we give a complete constructive solution when the list consists of one or two distinct elements, and when the list consists of consecutive integers $1,2,\ldots,x$, each one appearing with the same multiplicity. Finally, we propose a conjecture and some open problems.Comment: 16 page

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

Effect of manidipine-simvastatin combination on fibrinolysis, adhesion molecules and C-reactive protein in hypertensive hypercholesterolemic patients

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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

Peri-Procedural Management of Direct-Acting Oral Anticoagulants (DOACs) in Transcatheter Miniaturized Leadless Pacemaker Implantation

INTRODUCTION: Data on peri-operative management of direct-acting oral anticoagulants (DOACs) during transcatheter pacing leadless system (TPS) implantations remain limited. This study aimed to evaluate a standardized DOAC management regime consisting of interruption of a single dose prior to implantation and reinitiation within 6-24 h; also, patient clinical characteristics associated with this approach were identified. METHOD: Consecutive patients undergoing standard TPS implantation procedures from two Swiss tertiary centers were included. DOAC peri-operative management included the standardized approach (Group 1A) or other approaches (Group 1B). RESULTS: Three hundred and ninety-two pts (mean age 81.4 ± 7.3 years, 66.3% male, left ventricular ejection fraction 55.5 ± 9.6%) underwent TPS implantation. Two hundred and eighty-two pts (71.9%) were under anticoagulation therapy; 192 pts were treated with DOAC; 90 pts were under vitamin-K antagonist. Patients treated with DOAC less often had structural heart disease, diabetes mellitus, and advanced renal failure. The rate of major peri-procedural complications did not differ between groups 1A (n = 115) and 1B (n = 77) (2.6% and 3.8%, p = 0.685). Compared to 1B, 1A patients were implanted with TPS for slow ventricular rate atrial fibrillation (AF) (p = 0.002), in a better overall clinical status, and implanted electively (<0.001). CONCLUSIONS: Standardized peri-procedural DOAC management was more often implemented for elective TPS procedures and did not seem to increase bleeding or thromboembolic adverse events

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