"Does the Appointment of the Outside Director Increase Firm Value? The Evidence from Taiwan"

We examine the stock market reaction to the announcement of outside director appointments in Taiwan. We employ a sample of 58 outside director announcements made by Taiwan Stock Exchange listed firms during the period 1 January, 1999 to 30 June, 2003. Using this data, we can test some important hypotheses regarding the role of outside directors in conjunction with other conditions for corporate performance in affecting the stock market reactions. Our empirical findings indicate that there exists a significantly positive reaction to the announcements. The cumulative abnormal returns ---one indicator of stock market reaction measured by using the methodology of market model based event study --- reached 4.776%. We also find that the abnormal returns are positive and higher with respect to each of the following characteristics: poorer prior corporate performance, the CEO as chairman of the board, larger free cash flow and a higher degree of information asymmetry. Further, we find that the announcement effect is decreasing as number of outside directors increases. Our findings are different from existing literature, for instance, those of Lin, Pope and Young (2003) and Rosenstein and Wyatt (1990) mainly because the outside director appointment is not mandatory in Taiwan. This suggests that the announcement effects could be different across countries. The appointment appears to be more beneficial for a country with poor corporate governance mechanisms.

Involvement of Prohibitin Upregulation in Abrin-Triggered Apoptosis

Abrin (ABR), a protein purified from the seeds of Abrus precatorius, induces apoptosis in various types of cancer cells. However, the detailed mechanism remains largely uncharacterized. By using a cDNA microarray platform, we determined that prohibitin (PHB), a tumor suppressor protein, is significantly upregulated in ABR-triggered apoptosis. ABR-induced upregulation of PHB is mediated by the stress-activated protein kinase/c-Jun NH2-terminal kinase (SAPK/JNK) pathway, as demonstrated by chemical inhibitors. In addition, ABR significantly induced the expression of Bax as well as the activation of caspase-3 and poly(ADP-ribose) polymerase (PARP) in Jurkat T cells, whereas the reduction of PHB by specific RNA interference delayed ABR-triggered apoptosis through the proapoptotic genes examined. Moreover, our results also indicated that nuclear translocation of the PHB-p53 complex may play a role in the transcription of Bax. Collectively, our data show that PHB plays a role in ABR-induced apoptosis, which may be helpful for the development of diagnostic or therapeutic agents

Seeing Through Things:Exploring the Design Space of Privacy-Aware Data-Enabled Objects

Increasing amounts of sensor-augmented research objects have been used in design research. We call these objects Data-Enabled Objects, which can be integrated into daily activities capturing data about people's detailed whereabouts, behaviours, and routines. These objects provide data perspectives on everyday life for contextual design research. However, data-enabled objects are still computational devices with limited privacy awareness and nuanced data sharing. To better design data-enabled objects, we explore privacy design spaces by inviting 18 teams of undergraduate design students to re-design the same type of sensor-enabled home research camera. We developed the Connected Peekaboo Toolkit (CPT) to support the design teams in designing, building, and directly deploying their prototypes in real home studies. We conducted Thematic Analysis to analyze their outcomes which led us to interpret that privacy is not just an obstacle but can be a driver by unfolding an exploration of possible design spaces for data-enabled objects.</p

Design Distribution and Evaluation Model for Collaborative Design Chain

A collaborative design chain incorporates the different design activities performed by various design teams that may be located at different geographical locations. In a collaborative design chain, the different parts of a product can be designed by different design teams in a collaborative way. There exist different ways for distributing the different parts to the multiple design teams. If different ways are used for distributing the different part, the time for completing the design and the final functions of the product may vary. In this research, a design evaluation model for evaluating the collaborative design chain is presented. The presented new model is aimed at finding the best way for distributing the different parts to the suitable design teams such that the designed functional value of the product can be maximized. Also, the design cost composed of design operation cost and design communication cost in collaborative design is minimized. An optimized design distribution and evaluation model is presented by maximizing the total design value which is defined as the designed functional value minus the design operation cost and the design communication cost. Implementation and test results are presented

Encouraging IS developers to learn business skills: an examination of the MARS model

Though prior research has recognized business skills as one of the keys to successful information system development, few studies have investigated the determinants of an IS developer’s behavioral intention to learn such skills. Based on the Motivation–Ability–Role Perception–Situational factors (i.e., the MARS model), this study argues that the intention of IS developers to acquire business skills is influenced by learning motivation (M), learning self-efficacy (A), change agent role perception (R), and situational support (S). Data collected from 254 IS developers are analyzed using the Partial Least Squares (PLS) technique. Results show that a developer’s intention to learn business skills is positively influenced by intrinsic learning motivation and both absolute and relative learning self-efficacy. Furthermore, in comparison to two other change agent roles, the advocate role leads to a significantly higher level of learning intention. Finally, work and non-work support positively influence both extrinsic and intrinsic learning motivation. Notably, non-work support has a greater impact on both absolute and relative learning self-efficacy. Our results suggest several theoretical and practical implications

A New Combined Boost Converter with Improved Voltage Gain as a Battery-Powered Front-End Interface for Automotive Audio Amplifiers

High boost DC/DC voltage conversion is always indispensable in a power electronic interface of certain battery-powered electrical equipment. However, a conventional boost converter works for a wide duty cycle for such high voltage gain, which increases power consumption and has low reliability problems. In order to solve this issue, a new battery-powered combined boost converter with an interleaved structure consisting of two phases used in automotive audio amplifier is presented. The first phase uses a conventional boost converter; the second phase employs the inverted type. With this architecture, a higher boost voltage gain is able to be achieved. A derivation of the operating principles of the converter, analyses of its topology, as well as a closed-loop control designs are performed in this study. Furthermore, simulations and experiments are also performed using input voltage of 12 V for a 120Wcircuit. A reasonable duty cycle is selected to reach output voltage of 60 V, which corresponds to static voltage gain of five. The converter achieves a maximum measured conversion efficiency of 98.7% and the full load efficiency of 89.1%