Looking Back and Looking Forward: Sarbanes-Oxley and the Future of Corporate Governance

In this Article, we argue that all groups: business leaders, regulators and shareholders, should recognize the steps that must be taken to create a competitive, fair and ethical corporate climate. We are not calling merely for “voluntary cooperation” from businesses to improve the current situation. Indeed, SOX exists and is appropriate for this situation precisely because it imposes baseline obligations with which corporations are required to comply. Moreover, other regulations regarding independent directors, expensing of stock options, etc. are needed and are vital to keeping business interests in line with society’s. However, business leaders and regulators will have an easier time promoting a healthy marketplace if industry gets “ahead of the curve.” In the end, business leaders must do just that by leading and implementing broad mechanisms of self-regulation and monitoring. Most important, the changes that need to be made are neither radical nor difficult. Executives and regulators must adopt common-sense reforms. Through proactive regulation, public officials should create and align corporations’ incentives so that they can then find market solutions to governance issues

High spin polarization in the ferromagnetic filled skutterudites KFe4Sb12 and NaFe4Sb12

The spin polarization of ferromagnetic alkali-metal iron antimonides KFe4Sb12 and NaFe4Sb12 is studied by point-contact Andreev reflection using superconducting Nb and Pb tips. From these measurements an intrinsic transport spin polarization Pt of 67% and 60% for the K and Na compound, respectively, is inferred which establishes these materials as a new class of highly spin polarized ferromagnets. The results are in accord with band structure calculations within the local spin density approximation (LSDA) that predict nearly 100% spin polarization in the density of states. We discuss the impact of calculated Fermi velocities and spin fluctuations on Pt.Comment: Pdf file with fi

The universality class of fluctuating pulled fronts

It has recently been proposed that fluctuating ``pulled'' fronts propagating into an unstable state should not be in the standard KPZ universality class for rough interface growth. We introduce an effective field equation for this class of problems, and show on the basis of it that noisy pulled fronts in {\em d+1} bulk dimensions should be in the universality class of the {\em (d+1)+1}D KPZ equation rather than of the {\em d+1}D KPZ equation. Our scenario ties together a number of heretofore unexplained observations in the literature, and is supported by previous numerical results.Comment: 4 pages, 2 figure

Front Propagation and Diffusion in the A <--> A + A Hard-core Reaction on a Chain

We study front propagation and diffusion in the reaction-diffusion system A $\leftrightharpoons$ A + A on a lattice. On each lattice site at most one A particle is allowed at any time. In this paper, we analyze the problem in the full range of parameter space, keeping the discrete nature of the lattice and the particles intact. Our analysis of the stochastic dynamics of the foremost occupied lattice site yields simple expressions for the front speed and the front diffusion coefficient which are in excellent agreement with simulation results.Comment: 5 pages, 5 figures, to appear in Phys. Rev.