Security-voting structure and bidder screening

This paper analyzes how non-voting shares affect the takeover outcome in a single-bidder model with asymmetric information and private benefit extraction. In equilibrium, the target firm’s security-voting structure influences the bidder’s participation constraint and in response the shareholders’ conditional expectations about the post-takeover share value. Therefore, the structure can be chosen to discriminate among bidder types. Typically, the socially optimal structure deviates from one share - one vote to promote all and only value-increasing bids. As target shareholders ignore takeover costs, they prefer more takeovers and hence choose a smaller fraction of voting shares than is socially optimal. In either case, the optimal fraction of voting shares decreases with the quality of shareholder protection and increases with the incumbent manager’s ability. Finally, shareholder returns are higher when a given takeover probability is implemented by (more) non-voting shares rather than by (larger) private benefits

Security-voting structure and bidder screening

This paper demonstrates that non-voting shares can promote takeovers. When the bidder has private information, shareholders may refuse to tender because they suspect to sell at an ex post unfavourable price. The ensuing friction in the sale of cash flow rights can prevent an efficient change of control. Separating cash flow and voting rights alters the degree of cross-subsidization among bidder types. It can therefore be used as an instrument to promote takeover activity and to discriminate between efficient and inefficient bidders. The optimal fraction of non-voting shares decreases with managerial ability, implying an inverse relationship between firm value and non-voting shares

Effect of grain alignment on interface trap density of thermally oxidized aligned-crystalline silicon films

The authors report studies of the effect of grain alignment on interface trap density of thermally oxidized aligned-crystalline silicon (ACSi) films by means of capacitance-voltage (C-V) measurements. C-V curves were measured on metal-oxide-semiconductor (MOS) capacitors fabricated on 〈001〉- oriented ACSi films on polycrystalline substrates. From high-frequency C-V curves, the authors calculated a decrease of interface trap density from 2× 1012 to 1× 1011 cm-2 eV-1 as the grain mosaic spread in ACSi films improved from 13.7° to 6.5°. These results demonstrate the effectiveness of grain alignment as a process technique to achieve significantly enhanced performance in small-grained (≤1 μm) polycrystalline Si MOS-type devices. © 2006 American Institute of Physics

Physiology engages with functional genomics - at last

A report on the XXXV International Congress of Physiological Sciences, held together with Experimental Biology 2005, San Diego, USA, 31 March - 6 April 2005

Body perceptions and motivation in rhythmic gymnastics in South Korea

Previous research in the field of aesthetic sports such as gymnastics, figure skating and dance, indicates that athletes in these disciplines experience more body dissatisfaction and higher weight concerns than participants in other sports. Studies also show that while intrinsic motivation (e.g., enjoyment of physical activity) can increase participation in the long term, extreme appearance orientation may decrease intrinsic motivation, promoting pressure and amotivation. The purpose of this research is to explore body perceptions and motivation in rhythmic gymnastics. There are two main questions in the study. First, how do rhythmic gymnasts perceive the importance of body appearance (e.g., physical size or shape) in the sport? Second, what motivates rhythmic gymnasts to participate in the sport, and what leads them to stop participating? Specifically, this research utilized a culturally specific population to understand the subject by examining the body ideals and motivation of female college rhythmic gymnasts in South Korea. This research supports that fulfilling the basic psychological needs of autonomy, competence, and relatedness can promote motivation in sports. This research also indicates that a sport’s focus on appearance and weight control can decrease motivation for participation in that sport. Appearance is very important in rhythmic gymnastics and rhythmic gymnasts use a variety of weight management techniques to maintain body appearance and thinness. Appearance is related to extrinsic motivation in rhythmic gymnastics, and extrinsic motivation can discourage motivation in sports. So, this research suggests that sports and exercise programs should encourage intrinsic motivation rather than extrinsic motivation (e.g. the appearance and weight motive) for continued participation and long term adherence in sports

Factors affecting condom-use behaviors among female emerging adults in South Korea

Emerging adulthood is a life stage of people between 18 and 25 years and represents a period where people transition from adolescence to adulthood, involving physical, mental, and social changes. In early adulthood, the value system related to sexuality is not fully established, which may increase people’s vulnerability when making subjective judgments or choices regarding their sexual behaviors. Additionally, during this period, they often have their first experience of sexual intercourse and engage in sexual activities. Also, they act in the moment, and their sexual urges are stronger than those of people in other age groups. In South Korea, the number of new STD and HIV infection has continued to increase from 2012 to 2016, especially among people in their 20s. From 2015 to 2017, unprotected sex was the most common route of transmission for new HIV cases among young people. In 2014, the prevalence of gonorrhea, chlamydia, and HIV was highest in people between 19 and 34 years old. Additionally, of all newly diagnosed HIV cases in 2017, 33.7% were in their 20s, and this group accounted for the highest proportion. Strategies to address problems related to STD and HIV transmission depend primarily on prevention. Among various contraceptive methods for those in their 20s, the male condom is used most often. Male condoms are considered to be cost-effective, readily accessible, and 85% effective at preventing STDs and HIV. However, condom use has been found to be very low among young people in South Korea. Previous studies showed that about 50-80% of emerging adults still do not use condoms during sexual intercourse. Based on the literature review, several gaps exist. First, structured sex education tailored to emerging adults is not common in South Korea. Second, there is a limited number of studies examining the components for predicting condom use behaviors among South Korean emerging adults. Third, no study exists that explores the association between gender-driven power dynamics and the decision-making process for condom use in the South Korean context. Therefore, this study aimed to identify predictors of condom use behaviors among female emerging adults in South Korea. This investigation draws on theoretical concepts used in the Theory of Gender and Power (TGP), which includes sexual double standards, sexual assertiveness, and sexual security, and the Theory of Planned Behavior (TPB), which considers attitudes, subjective norms, perceived behavioral control, and barriers (in this case toward condom use). Participants were 170 sexually active, unmarried, heterosexual female college students aged 18–25 years (mean age = 20.97 ± 1.76 years) exclusively in South Korea. A cross-sectional survey was conducted between November 25 and December 5, 2019, using Qualtrics software. Fifteen items were measured on participants’ demographic characteristics, including their sexual experience. Next, sexual double standards were measured using the 10-item, 5-point-Likert Double Standard Scale (DSS). Low scores suggest an open and progressive gender standard and a positive outlook on gender equity. Third, sexual assertiveness was measured using the 18-item, 4-point-Likert Sexual Assertiveness Scale (SAS). Higher scores indicate a high ability to initiate sex if desire, refuse unwanted sexual practice or contact, and negotiate condom use to prevent pregnancies and STDs. Fourth, sexual security was measured using the 5-item, 7-point-Likert Global Measure of Sexual Satisfaction Scale (GMSEX), cross-culturally translated into Korean to measure participants’ overall sexual satisfaction. Higher scores indicate high sexual satisfaction during sexual relationships. Lastly, their sexual risk-taking behavior was measured using the cross-culturally translated Sexual Risk Behavior Belief and Self-efficacy scale (SRBBS) to measure participants’ attitudes, subjective norms, self-efficacy, and barriers toward condom use. Data were analyzed using descriptive statistics for general characteristics, general sex-related information, predictors, and condom-use behaviors; Spearman’s rho was used to determine relationships among predictors. Gamma regression was applied to determine the factors affecting condom use. About half (45.9%) of participants indicated that they always used condoms during sexual intercourse. The sexual double standards score was low (M = 15.62, SD = 4.93), indicating open and progressive gender standards, and a positive outlook on gender equality. Scores for sexual assertiveness (M = 60.79, SD = 4.56), attitude (M = 13.98, SD = 2.26), subjective norms (M = 13.82, SD = 2.44), and barriers toward condom use (M = 6.06, SD = 1.92) were moderate. These results suggest participants’ moderate ability to (a) initiate sex if desired; (b) refuse unwanted sexual practices or contact; (c) negotiate condom use to prevent pregnancy and sexually transmitted diseases; (d) abstain from risky sexual behaviors; and (e) purchase or carry a condom. Lastly, sexual security (M = 27.46, SD = 5.43) and self-efficacy toward condom use scores were high (M = 22.48, SD = 3.08), indicating that participants had high sexual satisfaction during sexual relationships and a strong intention to abstain from risky sexual behaviors. Results showed that sexual double standards and attitudes toward condom use were significantly positively associated with condom-use behaviors among female college students. In particular, attitudes toward condom use was the stronger predictor of condom use behaviors than sexual double standards. A significant implication of this study is the need for new approaches to addressing condom use in female emerging adults in South Korea. Such approaches should be informed by gender dynamics and should have cultural and social relevance for South Korean society. The current findings inform future interventions tailored to the population to promote condom use and thus preventing STDs/HIV, unwanted pregnancies, abortions, and other negative consequences in female emerging adults in South Korea

Not the kind that means splendor

This collection of poems maps the landscape of loss and love, and centers itself in the overlap of passion and grief

Research of future furniture design : exploring trends and aesthetics in futurism

Conceptual furniture that appear in many movies can be a great source of inspiration. Unique artifacts are intended to create a sense of place within the physical and psychological context of the movie. Many science-fiction movies upgrade and expand perspectives to feature the technical nature of the background. Inside those films, intriguing furniture play a huge role to create the space and such different furniture designs. Imagining the specific characteristics of the designs that seem as though they belong in outer space, how do they contribute to the overall environment? Current furniture design spans a wide range of genres, and many recent movie films describe many new spaces with existing furniture. These designs illustrate a completely different environment, especially in science-fiction films that take place in outer space. The current technological trends affect the ongoing development of furniture design, and this thesis explores recent, past, and current trends to imagine a potential trend in the furniture industry. Therefore, my design research will find elements that explain future design and feature a body of work examining the next future furniture trends. I will develop a design process that integrates new technologies and making of furniture pieces

Culture and preschoolers' activities : the United States and Korea

The purpose of this study was to explore the variation in children's daily activities both within and across the US and Korea. For this purpose, observations were made of the types of activities available for young children, the extent of children's participation in those activities, their partners, the respective roles taken by children and their partners, and the location in which children's activities took place. Participants, ranging in age from 28 to 48 months, were drawn from four cultural groups: middle and working class communities of the US and Korea. Data were obtained through the observation of children's daily life in natural settings. A total of 5725 observation from 32 preschool (20 from the US and 12 from Korea) children were used in the analyses. To test the differences between nations and/or classes, phi coefficient tests were employed

The effect of utilizing a badminton shuttlecock projecting device on the playing ability of beginning badminton players

It was the purpose of this study to determine the effectiveness of a badminton shuttlecock projecting device upon the skill achieved by a group of beginning badminton players. The subjects were college students enrolled in two beginning badminton classes and one recreational sports class. The two badminton classes were designated as the experimental (N = 16) and control (N = 18) groups, both groups receiving class instruction. In addition, the experimental group practiced hitting shuttlecocks projected by the device. The recreational sports class was designated as the comparison group (N = 12). Initial and final Miller Wall Volley Test scores assessed badminton ability at the beginning and conclusion of the study. A pre-instruction knowledge test was also administered. Scores were analyzed with the analysis of variance procedure followed by Scheffé tests which further assessed differences. The significance level was set at the .05 critical value. Results revealed significant differences between the three groups on final badminton playing ability although the conservative Scheffé tests failed to pinpoint the exact nature of the differences. A significant improvement in playing ability was found for both the experimental and control groups. It can be concluded, within the limitations of this study, that badminton instruction supplemented with the aid of a badminton shuttlecock projecting machine was as effective as badminton instruction alone