DETERMINANTS OF OUTSIDE DIRECTOR TURNOVER

In this paper we provide evidence that independent director turnover is influenced by a series of economic factors. Directors, both independent and insider, are less likely to leave if they are paid well or if the firm has a director pension plan. They are also more likely to leave when the firm is performing poorly or when they expect it to perform poorly. They are more likely to leave when the firm is riskier, but are less likely to leave when they chair certain committees such as the audit and compensation committee, which may bring them more prestige, or perhaps an additional stipend. Differentially, the association between turnover and firm performance is weaker for inside directors. This is consistent with inside directors’ response to reputation concerns being lower than that of independent directors due to the bonding and compensation effects.Director turnover, economic factors

AUDIT FIRM REPUTATION, AUDITOR SWITCHES, AND CLIENT STOCK PRICE REACTIONS: THE ANDERSEN EXPERIENCE

The financial scandal surrounding the collapse of Enron caused erosion in the reputation of its auditor, Andersen, leading to concerns about Andersen’s ability to continue in existence and ultimately its demise. In this paper we investigate the timing of switch by former Andersen’s clients. We find that the timing of the switch is related to variables hypothesized to be associated with the cost of switch. Specifically these are client size, auditor industry specialization, provision of non-audit services, auditor tenure, quality of earnings and financial distress In addition we find that clients with the greatest market losses attributable to disclosures pertaining to Andersen’s audit of Enron, and strongest corporate governance were more likely to switch early, while those with the strongest ties to Andersen were more likely to delay switching. We also find that clients switching from Andersen experienced positive abnormal returns during the three-day window surrounding the announcement. Importantly we find this positive return to be greater for clients with greater prior losses.Auditor Reputation, Auditor Change, Arthur Andersen, Enron

Impact of Job Complexity and Performance on CFO Compensation

This study investigates the impact of job complexity and firm as well as CFO-specific performance on CFO compensation. We examine job complexity in terms of the intricacies of a firm’s operations and whether the CFO serves on the Board of Directors. Accounting and stock market rates of return measure overall firm performance while the magnitude and success of the CFO’s interactions with financial analysts along with CFO’s use of accounting discretion to achieve earnings targets proxy for CFO-specific performance. We find that, consistent with our predictions, job complexity and performance (firm and CFO-specific) affect CFO compensation.Chief operating office, Executive compensation

Translation of mass killings, slavery, and cultural destruction in Iraq

Aims: To examine how the Islamic State projects itself through the translation and dissemination of images and texts, and how this is reconstructed by Western and Arabic media

The Role of Dynamic Gaze Fixations in Human Postural Control

Background: The human postural control system, which controls balance, is constantly taking in sensory input to help maintain balance while allowing one to pay attention to their daily activities. Using visual search tasks, we will be able to understand information relevant to how changes in visual input affects one’s postural control representative of a more real-life scenario. Purpose: With the help eye tracking technology, this study assesses changes in postural control during various visual conditions. Postural control will be measured during such tasks to analyze how it compares to a simple, quiet balancing task. Following Bonnet and Baudry’s Functional Synergist Model, I hypothesize postural sway will be larger during free gaze and precise search tasks compared to a fixed gaze condition. Methodology: 15 healthy, young adults (22 ± 2yrs, 1.69 ± 0.08m, 75.8 ± 17.0kg, 3 men, 12 women) volunteered to participate in this cross-sectional study. Participants were asked to visit the lab and complete standardized assessments while standing quietly on a force plate: 1) a free gaze condition, 2) a fixed gaze condition (representative of the traditional assessments of postural steadiness), and 3) a precise search task. The precise search task was then analyzed in 2 portions: a “pre” section representative of the individual searching for the hidden object, and a “post” section representing fixation once the individual has found the object. During each condition, three 30 second trials were collected, but only 10 seconds were analyzed for each trial due to the aptitude of some participants finding the hidden object in less than 10 seconds during the precise search task. Sway area was calculated from the force plate data and eye tracking data was collected using TobiiPro eye-tracking glasses to confirm task success. Results: Participants displayed 19 ± 21mm of sway area during the free gaze condition, 11 ± 8mm during the fixed gaze condition, 21 ± 31mm while searching for the hidden object, and 9 ± 6mm while fixating on the hidden object. Discussion: These results support my hypothesis that postural sway is larger in both free gaze and the searching portion of the precise search task compared to the fixed gaze condition and the fixation portion of the precise search task. Interestingly, sway area was not larger in the free gaze condition compared to the searching portion of the precise search condition; I anticipated that with a larger area to scan, postural sway would increase due to the unlimited range of visual input, but perhaps participants naturally fixated on a specific area without instruction. Understanding the natural tendencies of participants during the free gaze condition and the precise searching task could help clarify the role of postural control in preventing falls as people tend to scan visual input in daily life