CEO Career Concerns And Voluntary Disclosure

This paper investigates the relation between Chief Executive Officers (CEO) career concerns and voluntary disclosures using listed firm (KOSPI) data in Korea. Prior research suggests that explicit incentives in the form of CEO stock-based compensation or CEO’s equity ownership mitigate the agency problems of reluctance to make voluntary disclosure. In addition, implicit incentives arising from CEO career concerns are as important as explicit incentives for mitigating agency problems.The labor market assesses CEOs ability and CEO reputation in the market is a valuable asset that is associated with many long-term benefits, such as better future compensation, reappointment in the position, and greater managerial autonomy. CEOs are concerned about such an assessment and these concerns are referred to as career concerns. However, the market has incomplete information about CEOs’ ability especially when the CEOs have short tenures as a CEO position. Hence, CEOs with short tenures have more strong incentives to signal their ability to the labor market so that they can build proper reputation.Implicit incentives arising from CEO career concerns are measured by CEO tenure. I assume that short-tenured CEOs are more career-concerned than long-tenured CEOs. I find that CEOs with short tenures tend to more likely disclose management forecasts. I interpret this result that more career-concerned CEOs have strong incentives to signal their ability to the labor market in order to build their reputations which affect their future payoffs such as compensations and reappointment. In addition, management forecasts, means of voluntary disclosure, are used as effective mechanism. I also find that CEOs with short tenures tend to disclose more accurate management forecasts. This result implies that CEOs with more career concerns have more pressure to provide accurate forecasts because of their reliability in the labor market. Based on these empirical results, I infer that CEOs’ implicit incentives affect their voluntary disclosure decision.This study will contribute to academics and disclosure-related practitioners by documenting about CEOs’ career concerns and their voluntary disclosure decisions

COMPARATIVE ANALYSIS OF YANG HAK-SEON VAULT AND TSUKAHARA 1260? VAULT IN GYMNASTICS

The study was a single-subject study on the top-elite vaulter in the world. This study was purposed to compare kinematic differences between Yang Hak-Seon vault (Yang-1) and Tsukahara 1260? vault (Yang-2) performed by Yang Hak-Seon. Fourteen high-speed cameras were used to capture a whole body segment motion of Yang-2 vault during the practice session. Yang-1 vault showed faster CM vertical velocity until the vault table takeoff and faster CM horizontal velocity prior to the vault table touchdown. However, the trunk rotation angle and its angular velocity of Yang-2 vault exceeded Yang-1 vault significantly. This might be due to a half turn off the springboard onto the vault table of Yang-2 vault, which resulted in larger initial angular momentum at the vault table touchdown and further increase in angular velocity during the vault table contact

JOINT KINEMATICS AND MUSCLE ACTIVITIES TO ACHIEVE SUCCESSFUL BANK-SHOTS IN BASKETBALL FREE-THROW

The study purpose was to investigate joint kinematics and muscle activations and compare clean-shot (CS) and bank-shot (BS) in men’s basketball free-throw. Ten high school male basketball athletes were recruited and asked to perform 10 CS and 10 BS, respectively, in random order. Kinematic results indicated that the range of motions (ROM) of knee, hip, and elbow joints for BS were greater (2.9 to 15.1%) than those of CS. During the projection phase, peak angluar velocities of all joints except the wrist of BS were greater than those of CS. The muscle activity of the triceps brachii increased by about 10.5% across all phases of BS compared to CS. In conclusion, the strategy of successful BS depends on increased joint ROMs and muscle activations of the triceps but similar peak angular velocity of the wrist to CS during the projection phase

KINEMATIC COMPARISONS OF KETTLEBELL TWO-ARM SWINGS BETWEEN EXPERTS AND BEGINNERS

The purpose of this study was to investigate kinematic comparisons of kettlebell two-arm swings between experts and beginners in order to find out biomechanical key points for preventing sports injuries and enhancing kettlebell performance. Four experts and three beginners performed kettlebell two-arm swings fifteen times with a 16 kg kettlebell. Experts demonstrated larger ranges of motions (ROM) of pelvic segment and hip joint than beginners, while beginners revealed larger ROM of shoulder joint than experts. Magnitudes and sequential orders of peak angular velocities of major joints were significantly different between two groups. Conclusively, the mobility of pelvic segment and hip joint are required, while the stability of the other joint are needed to produce appropriate kettlebell two-arm swings. The activation and strength of gluteus muscles would be key contributors

Sleeve Lobectomy as an Alternative Procedure to Pneumonectomy for Non-small Cell Lung Cancer

IntroductionThe aim of this study is to compare the outcomes of sleeve lobectomy (SL) and pneumonectomy (PN) and to determine which one is more acceptable standard procedure for patients with non-small cell lung cancer.MethodsFrom 1996 to 2005, 424 patients underwent SL (n = 157) and PN (n = 267) in our institution. Propensity score matching analysis was performed to compare these two groups for mortality, morbidity, survival, recurrence, and postoperative pulmonary function.ResultsIn each group, 105 patients were eligible for analysis. The operative mortality was lower in the SL group (1.0%) than the PN group (8.6%), (p < 0.0001). The morbidity was similar (33.4% versus 29.5%, p = 0.376). The 5-year survival was lower in the PN group (PN, 32.14% versus SL, 58.43%, p = 0.0002). The recurrence pattern (locoregional versus distant) did not differ between two groups (p = 0.180). The mean actual postoperative first second forced expiratory volume in the patients underwent SL was 2.05 ± 0.55 liter, which increased by 7.9% compared with the predicted-postoperative first second forced expiratory volume.ConclusionsOur results showed that the SL can be performed with low operative risk and may offer superior survival and better postoperative pulmonary function compared with the PN in selected patients. If anatomically feasible, a SL must be considered as a favorable alternative to PN in patients with non-small cell lung cancer

Current Studies of Acupuncture in Cancer-Induced Bone Pain Animal Models

Acupuncture is generally accepted as a safe and harmless treatment option for alleviating pain. To explore the pain mechanism, numerous animal models have been developed to simulate specific human pain conditions, including cancer-induced bone pain (CIBP). In this study, we analyzed the current research methodology of acupuncture for the treatment of CIBP. We electronically searched the PubMed database for animal studies published from 2000 onward using these search terms: (bone cancer OR cancer) AND (pain OR analgesia) AND (acupuncture OR pharmacopuncture OR bee venom). We selected articles that described cancer pain in animal models. We analyzed the methods used to induce cancer pain and the outcome measures used to assess the effects of acupuncture on CIBP in animal models. We reviewed articles that met our inclusion criteria. Injection of mammary cancer cells into the cavity of the tibia was the most frequently used method for inducing CIBP in the animal models. Among the eight selected studies, five studies demonstrated the effects of electroacupuncture on CIBP. The effects of acupuncture were assessed by measuring pain-related behavior. Future researches will be needed to ascertain the effectiveness of acupuncture for treating CIBP and to explore the specific mechanism of CIBP in animal models