The Expropriation Game: Minority Shareholders' Protection

Many Hong Kong companies, including listed companies, are controlled by a small group of shareholders with family ties. The inadequacy of the law has made it possible for controlling shareholders to expropriate corporate assets by using complex corporate structures to the detriment of minority shareholders. This article analyses the inadequacy of the law on the appointment of directors, self-dealing and shareholder legal remedies, and the current proposals for legislative reform. Drawing on the experience of some Western European countries where dominant shareholding is also a strong feature, it argues that such problems can be overcome by having a system of law and regulation which provides adequate shareholder protection and effective enforcement of such law.published_or_final_versio

On the implications of aerosol liquid water and phase separation for modeled organic aerosol mass

Water is an important component of PM2.5 Many traditional SOA species are highly soluble and thus can be considered extractable Water can influence the partitioning of compounds traditionally considered insoluble in models Organic aerosol takes up water according to RH Organic aerosol interacts with inorganic water Deviations in ideality (solubility) must be considered

Solar Wind and its Evolution

By using our previous results of magnetohydrodynamical simulations for the solar wind from open flux tubes, I discuss how the solar wind in the past is different from the current solar wind. The simulations are performed in fixed one-dimensional super-radially open magnetic flux tubes by inputing various types of fluctuations from the photosphere, which automatically determines solar wind properties in a forward manner. The three important parameters which determine physical properties of the solar wind are surface fluctuation, magnetic field strengths, and the configuration of magnetic flux tubes. Adjusting these parameters to the sun at earlier times in a qualitative sense, I infer that the quasi-steady-state component of the solar wind in the past was denser and slightly slower if the effect of the magneto-centrifugal force is not significant. I also discuss effects of magneto-centrifugal force and roles of coronal mass ejections.Comment: 6 pages, 1 figure, Earth, Planets, & Space in press (based on 5th Alfven Conference) correction of discussion on a related pape

Electron transport through interacting quantum dots

We present a detailed theoretical investigation of the effect of Coulomb interactions on electron transport through quantum dots and double barrier structures connected to a voltage source via an arbitrary linear impedance. Combining real time path integral techniques with the scattering matrix approach we derive the effective action and evaluate the current-voltage characteristics of quantum dots at sufficiently large conductances. Our analysis reveals a reach variety of different regimes which we specify in details for the case of chaotic quantum dots. At sufficiently low energies the interaction correction to the current depends logarithmically on temperature and voltage. We identify two different logarithmic regimes with the crossover between them occurring at energies of order of the inverse dwell time of electrons in the dot. We also analyze the frequency-dependent shot noise in chaotic quantum dots and elucidate its direct relation to interaction effects in mesoscopic electron transport.Comment: 21 pages, 4 figures. References added, discussion slightly extende

State of the Art on Prediction of Concrete Pumping

Large scale constructions needs to estimate a possibility for pumping concrete. In this paper, the state of the art on prediction of concrete pumping including analytical and experimental works is presented. The existing methods to measure the rheological properties of slip layer (or called lubricating layer) are first introduced. Second, based on the rheological properties of slip layer and parent concrete, models to predict concrete pumping (flow rate, pumping pressure, and pumpable distance) are explained. Third, influencing factors on concrete pumping are discussed with the test results of various concrete mixes. Finally, future need for research on concrete pumping is suggested.ope

Invasive carcinomas of the male breast: a morphologic study of the distribution of histologic subtypes and metastatic patterns in 778 cases

The current investigation was conducted to evaluate the proportional distribution of the various histologic subtypes (including newly recognized variants) of male breast carcinomas, to determine whether any histologic subtypes occur with a frequency that is markedly discordant with the expected frequencies from published data on parallel female breast tumors. We also aimed to document the distribution of malignancies metastatic to the breast. Seven hundred fifty-nine archived cases of primary invasive carcinoma involving the male breast were retrieved and subcategorized into histologic subtypes according to contemporary criteria. Six hundred forty-three (84.7%) tumors were pure infiltrating ductal carcinoma (IDC) not otherwise specified. The most common of the remainder included papillary carcinoma with invasion in the form of IDC (n = 34), mixed IDC and mucinous carcinoma (n = 26), and pure mucinous carcinoma (n = 21). In 19 cases, metastases from other sites involved the breast, most commonly (58%) cutaneous melanoma. Invasive carcinoma of the male breast appears to display a morphologic spectrum and distribution of histologic subtypes that is comparable to those of the female breast, with some expected variation. Compared with published experience on their female counterparts, there is a two-fold increase in the frequency of invasive papillary carcinoma in the male breast. Finally, the most common tumor metastatic to the male breast in this series was cutaneous melanoma

The Role of Individual Variables, Organizational Variables and Moral Intensity Dimensions in Libyan Management Accountants’ Ethical Decision Making

This study investigates the association of a broad set of variables with the ethical decision making of management accountants in Libya. Adopting a cross-sectional methodology, a questionnaire including four different ethical scenarios was used to gather data from 229 participants. For each scenario, ethical decision making was examined in terms of the recognition, judgment and intention stages of Rest’s model. A significant relationship was found between ethical recognition and ethical judgment and also between ethical judgment and ethical intention, but ethical recognition did not significantly predict ethical intention—thus providing support for Rest’s model. Organizational variables, age and educational level yielded few significant results. The lack of significance for codes of ethics might reflect their relative lack of development in Libya, in which case Libyan companies should pay attention to their content and how they are supported, especially in the light of the under-development of the accounting profession in Libya. Few significant results were also found for gender, but where they were found, males showed more ethical characteristics than females. This unusual result reinforces the dangers of gender stereotyping in business. Personal moral philosophy and moral intensity dimensions were generally found to be significant predictors of the three stages of ethical decision making studied. One implication of this is to give more attention to ethics in accounting education, making the connections between accounting practice and (in Libya) Islam. Overall, this study not only adds to the available empirical evidence on factors affecting ethical decision making, notably examining three stages of Rest’s model, but also offers rare insights into the ethical views of practising management accountants and provides a benchmark for future studies of ethical decision making in Muslim majority countries and other parts of the developing world