The Effect Of Corporate Governance On Unfaithful Disclosure Designation And Unfaithful Disclosure Penalty Points

This paper investigates the relation between Unfaithful Disclosure Corporations (“UDC”) and corporate governance using listed firm (KOSPI and KOSDAQ) data in Korea. Prior literature reports that corporate governance has an impact on the level of disclosure and the quality of disclosure provided by companies. However, it is hard to find the studies about corporate governance and UDC at the term of disclosure quality. Compare to some financially advanced countries, Korea established corporate governance in a relatively short period of time; hence concerns have been raised the corporate governance have not played effective role to monitor management. We question how corporate governance affects companies’ unfaithful disclosure by using several corporate governance proxy variables and UDC data which is unique system in Korea. From the empirical tests, we find a negative association between the proportion of outside directors, an indicator of the board’s independence, and UDC designation, among companies listed on both KOSPI and KOSDAQ. On the other hand, there is a significant positive association between the proportion of outside directors and UDCs’ imposed and accumulated penalty points among KOSDAQ-listed companies. This implies that outside director system effectively play a monitoring role however due to different natures of members included in outside directors, the system often fails to control regarding based reasons for penalty points imposition. In addition, we find the percentage of foreign equity ownership showed statistically significant positive association with UDC designation and a significant positive association with the imposed and accumulated penalty points among KOSPI-listed companies. We interpret this results that foreign investors with a short-term investment propensity may not enough to play a proper monitoring role in Korea and thereby they cannot effectively control the disclosure quality provided by the management. We also find that there is a significant positive association between the percentage of managerial ownership and UDC designation in the KOSDAQ market.   This study will contribute to academics and disclosure-related practitioners by documenting about corporate governance and its impact on unfaithful disclosure corporations

A Routing Path Construction Method for Key Dissemination Messages in Sensor Networks

Authentication is an important security mechanism for detecting forged messages in a sensor network. Each cluster head (CH) in dynamic key distribution schemes forwards a key dissemination message that contains encrypted authentication keys within its cluster to next-hop nodes for the purpose of authentication. The forwarding path of the key dissemination message strongly affects the number of nodes to which the authentication keys in the message are actually distributed. We propose a routing method for the key dissemination messages to increase the number of nodes that obtain the authentication keys. In the proposed method, each node selects next-hop nodes to which the key dissemination message will be forwarded based on secret key indexes, the distance to the sink node, and the energy consumption of its neighbor nodes. The experimental results show that the proposed method can increase by 50–70% the number of nodes to which authentication keys in each cluster are distributed compared to geographic and energy-aware routing (GEAR). In addition, the proposed method can detect false reports earlier by using the distributed authentication keys, and it consumes less energy than GEAR when the false traffic ratio (FTR) is ≥10%

Labor productivity :

In the confirmation process, four separate steps are taken. The reduced model based on six variables is utilized to find whether this model is consistent over three years, 1976, 1977 and 1978 in terms of R('2), bi value, signs of variables and the number of significant variables. Besides this rule of thumb, a more objective analysis is adopted to determine if the data of three years can be pooled with respect to intercepts and slopes. Another confirmation process is the analysis of the mean square error. The last confirmation process involves a comparison of predicted labor productivity with actual labor productivity. Overall the empirical results support the model.After this study limits its scope to labor productivity in the retail hardware industry at the micro level, the developed productivity model is tested empirically. The main characteristic of this model is that productivity can be explained by three blocks of endogenous variables, decision making variables, business health and organizational structure.The searching process involves testing 15 hypotheses based on data from 1976. The test results show that out of 15 hypotheses, only six hypotheses can be accepted. They are: scale, wages, two service levels and two promotional variables.The empirical parts of this study contain methodological considerations, a searching process of labor productivity determinants, and a confirmation process of identified determinants. Methodological considerations include the analysis of the functional relationship between labor productivity and its associated variables, the identification of the difference among different measures of input and output, and the examination of the existence of multicollinearity in the model.The purpose of this study is to answer the following questions: (1) What is productivity and why is it important at a micro level and a macro level? (2) How should productivity be measured? (3) What relation does productivity have with its explanatory variables? (4) What is the influence of marketing mix decision variables on productivity? (5) Can the developed productivity model be confirmed

Fragility Analysis of Space Reinforced Concrete Frame Structures with Structural Irregularity in Plan

Because significant damages to structures having structural irregularity in their plans were repeatedly observed during many past earthquakes, there have been great research efforts to evaluate their seismic vulnerability. Although most of the previous studies used simplified structural representations such as one-dimensional or two-dimensional models in the fragility analysis of plan-irregular structures, simple analytical models could not represent true seismic behavior from the complicated nonlinear coupling between lateral and torsional responses as the degree of irregularity increased. For space structures with high irregularity, more realistic representations such as three-dimensional models are needed for proper seismic assessment. However, the use of computationally expensive models is not practically feasible with existing approaches of fragility analysis. Thus, in this study, a different approach is adopted that can produce vulnerability curves efficiently, even with a three-dimensional model. In this approach, an integrated computational framework is established that combines reliability analysis and structural analysis. This enables evaluation of the limit-state faction without constructing its explicit formula, and the failure probability is calculated with the first-order reliability method (FORM) to deal with the computational challenge. Under the integrated framework, this study investigates the seismic vulnerability of space reinforced concrete frame structures with varying plan irregularity. Material uncertainty is considered, and more representative seismic fragility curves are derived with their three-dimensional analytical models. The effectiveness of the adopted approach is discussed, and the significant effect of structural irregularity on seismic vulnerability is highlighted

Molecular Weight Dependent Glucose Lowering Effect of Low Molecular Weight Chitosan Oligosaccharide (GO2KA1) on Postprandial Blood Glucose Level in SD Rats Model

Abstract This research investigated the effect of enzymatically digested low molecular weight (MW) chitosan oligosaccharide on type 2 diabetes prevention. Three different chitosan oligosaccharide samples with varying MW were evaluated in vitro for inhibition of rat small intestinal α-glucosidase and porcine pancreatic α-amylase (GO2KA1; \u3c1000 Da, GO2KA2; 1000–10,000 Da, GO2KA3; MW \u3e 10,000 Da). The in vitro results showed that all tested samples had similar rat α-glucosidase inhibitory and porcine α-amylase inhibitory activity. Based on these observations, we decided to further investigate the effect of all three samples at a dose of 0.1 g/kg, on reducing postprandial blood glucose levels in Sprague-Dawley (SD) rat model after sucrose loading test. In the animal trial, all tested samples had postprandial blood glucose reduction effect, when compared to control, however GO2KA1 supplementation had the strongest effect. The glucose peak (Cmax) for GO2KA1 and control was 152 mg/dL and 193 mg/dL, respectively. The area under the blood glucose-time curve (AUC) for GO2KA1 and control was 262 h mg/dL and 305 h mg/dL, respectively. Furthermore, the time of peak plasma concentration of blood glucose (Tmax) for GO2KA1 was significantly delayed (0.9 h) compared to control (0.5 h). These results suggest that GO2KA1 could have a beneficial effect for blood glucose management relevant to diabetes prevention in normal and pre-diabetic individuals. The suggested mechanism of action is via inhibition of the carbohydrate hydrolysis enzyme α-glucosidase and since GO2KA1 (MW \u3c 1000 Da) had higher in vivo effect, we hypothesize that it is more readily absorbed and might exert further biological effect once it is absorbed in the blood stream, relevant to blood glucose management

Quasi-Eigenstate Evolution in Open Chaotic Billiards

We experimentally studied evolution of quasi-eigenmodes as classical dynamics undergoing a transition from being regular to chaotic in open quantum billiards. In a deformation-variable microcavity we traced all high-Q cavity modes in a wide range of frequency as the cavity deformation increased. By employing an internal parameter we were able to obtain a mode-dynamics diagram at a given deformation, showing avoided crossings between different mode groups, and could directly observe the coupling strengths induced by ray chaos among encountering modes. We also show that the observed mode-dynamics diagrams reflect the underlying classical ray dynamics in the phase space.Comment: 4 pages, 4 figure