Agency, Delayed Compensation, and the Structure of Executive Remuneration

In this paper we examine the factors affecting the structure of executives' compensation packages. We focus particularly on the role of various types of delayed compensation as means of "bonding" executives to their firms. The basic problem is to design a compensation package that rewards actions that are in the long-run interest of the stockholders. Firms must take into account (1) their ability to discern unfortunate circumstances from mismanagement; (2) the extent to which a compensation package forces the executive to face risks, beyond his control; and (3) the willingness of a given executive to bear this risk. We use our theory to interpret some executive compensation data from the early 1970's. The results are generally in line with the theoretical predictions.

The application of the ventilation equations to cleanrooms - Part 2: Decay of contamination

This article is the second of a three-part series that investigates the application of the ventilation equations to designing and testing cleanrooms. This part is concerned with the decay equation. The recovery test, described in ISO 14644-3 (2005) is discussed, and improvements recommended. The application of the decay equation to the ‘clean up’ requirement given in the EU GGMP (2008) is also discussed. Finally, a method is considered that calculates the time needed for airborne contamination in cleanroom areas to decay to acceptable concentrations

Decay of airborne contamination and ventilation effectiveness of cleanrooms

This article reports an investigation into the ability of the air supply in non-unidirectional cleanrooms to aid recovery from episodes of airborne contamination, and minimise airborne contamination at important locations. The ISO 14644-3 (2005) recovery test, which measures the rate of decay of test particles, was assessed and a reinterpretation of the test results suggested. This allowed air change effectiveness indexes to be calculated and used to evaluate the ventilation effectiveness of the cleanroom’s air supply. Air change effectiveness indexes were measured in various designs of cleanrooms, and reasons for deviations in the value of the indexes investigated

The Phoretic Motion Experiment (PME) definition phase

The aerosol generator and the charge flow devices (CFD) chamber which were designed for zero-gravity operation was analyzed. Characteristics of the CFD chamber and aerosol generator which would be useful for cloud physics experimentation in a one-g as well as a zero-g environment are documented. The Collision type of aerosol generator is addressed. Relationships among the various input and output parameters are derived and subsequently used to determine the requirements on the controls of the input parameters to assure a given error budget of an output parameter. The CFD chamber operation in a zero-g environment is assessed utilizing a computer simulation program. Low nuclei critical supersaturation and high experiment accuracies are emphasized which lead to droplet growth times extending into hundreds of seconds. The analysis was extended to assess the performance constraints of the CFD chamber in a one-g environment operating in the horizontal mode

Necrotizing Enterocolitis Symposium: Epidemiology and Early Diagnosis

Despite decades of research on necrotizing enterocolitis (NEC), the outlook for infants afflicted by this devastating disease is all too often bleak. The aim of this symposium at the BAPS conference in Amsterdam was to highlight recent advances in the knowledge of the epidemiology and diagnosis of NEC. There were important contributions on the disease in the United Kingdom, both from a neonatal and a surgical point of view, whereas colleagues from the Netherlands and elsewhere in Europe shared their insights into novel diagnostic tools, both biofluid and imaging based. Level of Evidence: Level

Blood Group Antigens and Necrotizing Enterocolitis

This is a commentary on the manuscript titled “Blood Group AB is Associated with Poor Outcomes in Infants with Necrotizing Enterocolitis” by Dos Santos Martins R, Kool E, Kalteren W, et al

CDC42 and Rac1 control different actin-dependent processes in the Drosophila wing disc epithelium.

Cdc42 and Rac1 are members of the rho family of small guanosinetriphosphatases and are required for a diverse set of cytoskeleton-membrane interactions in different cell types. Here we show that these two proteins contribute differently to the organization of epithelial cells in the Drosophila wing imaginal disc. Drac1 is required to assemble actin at adherens junctions. Failure of adherens junction actin assembly in Drac1 dominant-negative mutants is associated with increased cell death. Dcdc42, on the other hand, is required for processes that involve polarized cell shape changes during both pupal and larval development. In the third larval instar, Dcdc42 is required for apico-basal epithelial elongation. Whereas normal wing disc epithelial cells increase in height more than twofold during the third instar, cells that express a dominant-negative version of Dcdc42 remain short and are abnormally shaped. Dcdc42 localizes to both apical and basal regions of the cell during these events, and mediates elongation, at least in part, by effecting a reorganization of the basal actin cytoskeleton. These observations suggest that a common cdc42-based mechanism may govern polarized cell shape changes in a wide variety of cell types