Top Management Team Diversity: A systematic Review

Empirical research investigating the impact of top management team (TMT) diversity on executives’ decision making has produced inconclusive results. To synthesize and aggregate the results on the diversity-performance link, a meta-regression analysis (MRA) is conducted. It integrates more than 200 estimates from 53 empirical studies investigating TMT diversity and its impact on the quality of executives’ decision making as reflected in corporate performance. The analysis contributes to the literature by theoretically discussing and empirically examining the effects of TMT diversity on corporate performance. Our results do not show a link between TMT diversity and performance but provide evidence for publication bias. Thus, the findings raise doubts on the impact of TMT diversity on performance

Heterogeneous expectations and common knowledge beliefs in finance

The assumptions of homogeneous expectations and common knowledge beliefs in Finance are examined. Relaxation of the assumption of common knowledge with respect to all relevant events has a profound effect on financial equilibrium pricing models. Outcomes can no longer be considered as being exogenously determined. They depend on the evolution of beliefs which necessarily follows any exogenous shock associated with non common knowledge beliefs. The recognition of the dependence of outcomes on beliefs-which are more likely to be heterogeneous and non common knowledge immediately after the initial shock-leads to the following view of financial markets. Financial markets can be best described by a dynamic (i.e. disequilibrium) model of the belief adjustment process. If beliefs converge to a common limit, the price of the asset converges to an equilibrium price and a pricing equilibrium is reached. Pricing equilibria are topologically characterized and are found to be equivalent to common knowledge beliefs with respect to all relevant events. In addition, common knowledge beliefs are shown to imply homogeneous expectations. As a result, pricing equilibria are rational expectations equilibria, since beliefs at equilibrium are homogeneous and are confirmed by the relevant observables. A specific model of the belief adjustment process is derived in the form of a system of difference equations. Its attractors (i.e. equilibria) comply to the topological characterization of equilibrium, derived previously. Convergence of the process to equilibrium is not guaranteed but is favored by relatively uninhibited flow of information among investors. Further it is shown that the final equilibrium depends on both the initial disturbance and the belief adjustment process and as a result, financial assets do not have an intrinsic value determined exogenously. The value of a financial asset can only be specified within the particular market in which the asset is traded. Finally, the dynamic model developed is used in order to offer some possible explanations for crashes and bubbles the Weekend Effect and the Small Firm effect

Economic liberalization and the antecedents of top management teams: evidence from Turkish 'big' business

There has been an increased interest in the last two decades in top management teams (TMTs) of business firms. Much of the research, however, has been US-based and concerned primarily with TMT effects on organizational outcomes. The present study aims to expand this literature by examining the antecedents of top team composition in the context of macro-level economic change in a late-industrializing country. The post-1980 trade and market reforms in Turkey provided the empirical setting. Drawing upon the literatures on TMT and chief executive characteristics together with punctuated equilibrium models of change and institutional theory, the article develops the argument that which firm-level factors affect which attributes of TMT formations varies across the early and late stages of economic liberalization. Results of the empirical investigation of 71 of the largest industrial firms in Turkey broadly supported the hypotheses derived from this premise. In the early stages of economic liberalization the average age and average organizational tenure of TMTs were related to the export orientation of firms, whereas in later stages, firm performance became a major predictor of these team attributes. Educational background characteristics of teams appeared to be under stronger institutional pressures, altering in different ways in the face of macro-level change

Marginalia and commentaries in the papyri of Euripides, Sophocles and Aristophanes

The purpose of the thesis is to examine a selection of papyri from the large corpus of Euripides, Sophocles and Aristophanes. The study of the texts has been divided into three major chapters where each one of the selected papyri is first reproduced and then discussed. The transcription follows the original publication whereas any possible textual improvement is included in the commentary. The commentary also contains a general description of the papyrus (date, layout and content) as well reference to special characteristics. The structure of the commentary is not identical for marginalia and hypomnemata: the former are examined in relation to their position round the main text and are treated both as individual notes and as a group conveying the annotator's aims. The latter are examined lemma by lemma with more emphasis upon their origins and later appearances in scholia and lexica. After the study of the papyri follows an essay which summarizes the results and tries to incorporate them into the wider context of the history of the text of each author and the scholarly attention that this received by the Alexandrian scholars or later grammarians. The main effort is to place each papyrus into one of the various stages that scholarly exegesis passed especially in late antiquity. Special treatment has been given to P.Wurzburg 1, the importance of which made it necessary that it occupies a chapter by itself. The last chapter of the thesis deals with the issue of glosses, namely their origin and use in the margins of papyri. The focus is again on the history of early collections of tragic and comic vocabulary and their appearance in the margins or hypomnemata. The parallel circulation of hypomnemata and glossaries often compiled by the same people and some special features of the glosses in our material led to the conclusion that most glosses at least in the earlier periods were copied from hypomnemata. The thesis ends with a presentation of all conclusions from the previous chapters in relation to the history of scholarship and book production in late antiquit

Photochemical synthesis: Effect of UV irradiation on gold nanorods morphology

Abstract Gold nanorods (AuNRs) were synthesized by photochemical method, through irradiation of a reaction solution, containing gold precursor, surfactant and a mild reducing agent to speed up the process. The effects of the irradiation parameters on the morphology of the formed AuNRs were investigated by UV–Vis absorption spectra and transmission electron microscopy. Specifically, the control of the UV irradiance (irradiation power per unit area) and irradiation time allowed the preparation of AuNRs with a wide range of sizes. Increase of the irradiation power leads to the formation of smaller AuNRs, with concomitant decrease of length and diameter. Since both axes show a simultaneous size decrease, the produced AuNRs have increased aspect ratio. Overall we show that application of high UV irradiance for short times favors the synthesis of small AuNRs with increased anisotropy. We propose that the rise of the irradiation power primarily accelerates the reduction of the gold precursor, promoting in such way the formation of smaller seeds. Short irradiation times guard against dissolution effects on the formed nanorods

Insecticidal action of the combined use of spinosad and deltamethrin against three storedproduct pests in two stored hard-wheat varieties.

The combined use of spinosad with deltamethrin against adults of Sitophilus oryzae, Sitophilus granarius and Tribolium confusum was evaluated in a series of laboratory bioassays in two hard wheat varieties (Athos and Sifnos). Two groups of bioassays were carried out. In the first group of bioassays, spinosad or deltamethrin were applied alone at the tested wheat varieties at the doses of 0.01, 0.1 and 0.5 ppm for spinosad and 0.125 ppm for deltamethrin. In the second group of bioassays, the tested wheat varieties were treated with the combination of the above spinosad rates with 0.125 of deltamethrin. In both series of bioassays, mortality of the tested species was evaluated after 7 d of exposure on the treated wheat varieties at 25oC and 65% r.h. Mortality for all species was always significantly higher in Athos than Sifnos. The highest mortality of S. oryzae (73 and 40% for Athos and Sifnos respectively) or S. granarius (88% and 58% for Athos and Sifnos respectively) was recorded in the cases that spinosad was applied alone at 0.5 ppm. On the contrary, in the case of T. confusum, 0.125 ppm of deltamethrin was significantly more effective than any of the application rates of spinosad either when applied alone or in combination with deltamethrin. Despite the fact that the highest mortality of S. granarius adults was recorded after exposure on the wheat varieties treated with 0.1 ppm of spinosad x 0.125 ppm of deltamethrin, in light of the results of the present study, the combination of spinosad with deltmethrin requires further investigation since in most of the tested cases of the present study, single application of spinosad or deltamethrin was more effective or of equal effectiveness than the respective combination of spinosad with deltamethrin. Keywords: Spinosad, Deltamethrin, Tribolium, Sitophilus, Wheat, Variet

Advanced piezoresistance of extended metal/insulator core shell nanoparticle assemblies

Assembled metal/insulator nanoparticles with a core/shell geometry provide access to materials containing a large number (>106) of tunneling barriers. We demonstrate the production of ceramic coated metal nanoparticles exhibiting an exceptional pressure sensitive conductivity. We further show that graphene bi- and trilayers on 20 nm copper nanoparticles are insulating in such core/shell geometry and show a similar pressure dependent conductivity. This demonstrates that core/shell metal/insulator assemblies offer a route to alternative sensing materials.Comment: 14 pages, 3 figures, published in Physical Review Letter

Mortality and suppression of progeny production of Sitophilus oryzae (L.) (Coleoptera: Curculionidae) and Tribolium confusum Jacquelin du Val (Coleoptera: Tenebrionidae) in seven different grains treated with an enhanced diatomaceous earth formulation

DEBBM, an enhanced diatomaceous earth (DE) formulation consisting of a mixture of DE and the plant extract bitterbarkomycin, was applied to seven different grains (wheat, barley, oats, rye, triticale, paddy rice and maize) at two dose rates 50 ppm and 150 ppm. Unsexed, 7d old adults of Sitophilus oryzae (Coleoptera: Curculionidae) and Tribolium confusum (Coleoptera: Tenebrionidae) were exposed to the DEBBM treated commodities and their mortality was assessed after 7d and 14d of exposure at 25 oC and 65% r.h. Furthermore, progeny production of the tested species per treated commodity was also assessed. Sitophilus oryzae appeared to be more susceptible than T. confusum to DEBBM. Performance of DEBBM was better in barley, wheat and oats compared to the remainder of the tested commodities. DEBBM performed better in rye and triticale than in paddy rice against both species although in many cases, significant differences among these grains were not recorded. Despite that DEBBM reached its highest efficacy levels on barley, wheat, and oats it did not suppress progeny production of the treated species in any of the grains. A significant reduction in progeny production of the treated species was recorded in the DEBBM treated grains in comparison with the untreated ones. This reduction in progeny production was expressed more vigorously to S. oryzae rather than T. confusum. In commodities with high DEBBM performance such as barley, oats or wheat, > 9-fold less progeny of S. oryzae were recorded at 150 ppm of DEBBM than in the untreated commodities. Although significantly less progeny of T. confusum were recorded in DEBBM treated grains than untreated grains, progeny suppression of this species was neither dose nor commodity dependant. Keywords: Diatomaceous earth, Bitterbarkomycin, Tribolium, Sitophilus, Mortality, Commodit

Effect of precursor solution dark incubation on gold nanorods morphology

Abstract Gold nanorods were synthesized in an aqueous solution of hexadecyltrimethylammonium bromide via a combination of chemical reduction and UV photoirradiation. Gold ligand complexes, present in the stock solution, are initially reduced, by ascorbic acid as mild reducing agent. The gold ions nucleation and colloid growth proceeds then by subsequent UV irradiation of the so-obtained precursor solution. We present a systematic study of the effect of incubation of the precursor solution on the dispersion state and aspect ratio of the produced nanorods. Incubation of the precursor solution allows the synthesis of higher aspect ratio nanorods with narrower size distribution compared to those obtained without incubation. We propose a mechanism for the gold nanorods formation including two stages, a nucleation and a diffusive growth. This allows us to explain the synthesis improvement as a consequence of the increase in the size of the gold ligand complexes aggregates, leading to a decrease of the nanorods growth rate