17,098 research outputs found
Antecedents of Voluntary Corporate Governance Disclosure: A Post-2007/08 Financial Crisis Evidence from the Influential UK Combined Code
No full textPurpose: This study investigates the level of compliance with, and disclosure of, good corporate governance (CG) practices among UK publicly listed firms, and consequently ascertains whether board characteristics and ownership structure variables can explain observable differences in the extent of voluntary CG compliance and disclosure practices.
Design/Methodology/Approach: The study uses one of the largest datasets to-date on compliance and disclosure of CG practices from 2008 to 2013 containing 120 CG provisions drawn from the 2010 UK Combined Code relating to 100 UK listed firms to conduct multiple regression analyses of the determinants of voluntary CG disclosures. A number of additional estimations, including two stage least squares, fixed-effects and lagged structures, are conducted in order to test the robustness of the findings.
Findings: The results suggest that there is a substantial variation in the levels of compliance with, and disclosure of, good CG practices among the sampled UK firms. We also find that firms with larger board size, more independent outside directors and greater director diversity tend to disclose more CG information voluntarily, whereas the level of voluntary CG compliance and disclosure is insignificantly related to the existence of a separate CG committee and institutional ownership. Additionally, the results indicate that block ownership and managerial ownership impact negatively on voluntary CG compliance and disclosure practices. The findings are fairly robust across a number of econometric models that sufficiently address various endogeneity problems and alternative CG indices. Overall, the findings are generally consistent with the predictions of neo-institutional theory.
Originality/Value: This paper extends, as well as contributes to the extant CG literature by offering new evidence on compliance with, and disclosure of, good CG recommendations contained in the 2010 UK Combined Code following the 2007/08 global financial crisis. This paper also advances the existing literature by offering new insights from a neo-institutional theoretical perspective of the impact of board and ownership mechanisms on voluntary CG compliance and disclosure practices.
Keywords: Corporate governance; Board and ownership mechanisms; Comply or explain; Neo-institutional theory; UK Combined Cod
Cg-TIMP, an inducible tissue inhibitor of metalloproteinase from the Pacific oyster Crassostrea gigas with a potential role in wound healing and defense mechanisms(1)
No full textWe have cloned and characterized a cDNA encoding Cg-TIMP, the first tissue inhibitor of metalloproteinase identified in mollusks. The isolated cDNA encodes a protein of 221 residues that has a domain organization similar to that of vertebrate TIMPs including a signal sequence, and the 12 cysteines characteristic of the TIMP signature. Analysis of Cg-TIMP expression in adult oyster tissues, by Northern blot and in situ hybridization, indicates that Cg-TIMP was only expressed in hemocytes which are the key components of defense mechanisms in mollusks. We also observed that Cg-TIMP mRNA accumulated during shell damage and bacterial challenge. This pattern of expression suggests that Cg-TIMP may be an important factor in wound healing and defense mechanisms.LR: 20061115; PUBM: Print; GENBANK/AF321279; JID: 0155157; 0 (DNA, Complementary); 0 (RNA, Messenger); 0 (TIMP protein, Crassostrea gigas); 0 (Tissue Inhibitor of Metalloproteinases); ppublishSource type: Electronic(1
Partial dependency parsing for Irish
No full textIn this paper we present a partial dependency parser for Irish, in which Constraint Grammar (CG) rules are used to annotate dependency relations and grammatical functions in unrestricted Irish text. Chunking is performed using a regular-expression grammar which operates on the dependency tagged sentences. As this is the first implementation of a parser for unrestricted Irish text (to our knowledge), there were no guidelines or precedents available. Therefore deciding what constitutes a syntactic unit, and how it should be annotated, accounts for a major part of the early development effort. Currently, all tokens in a sentence are tagged for grammatical function and local dependency. Long-distance dependencies, prepositional attachments or coordination are not handled, resulting in a partial dependency analysis. Evaluations show that the partial dependency analysis achieves an f-score of 93.60% on development data and 94.28% on unseen test data, while the chunker achieves an f-score of 97.20% on development data and 93.50% on unseen test data
Prolog+CG: A Maintainer's Perspective
No full text Prolog+CG is an implementation of Prolog with Conceptual Graphs as first-class datastructures, on a par with terms. As such, it lends itself well to applications in which reasoning with Conceptual Graphs and/or ontologies plays a role. It as originally developed by Prof. Dr. Adil Kabbaj, who in 2004 turned over maintainership of Prolog+ CG to the present author. In this paper, Prolog+CG is described in terms of its history, evolution, and maintenance. A special web-enabled version of Prolog+CG is also described. Possible interoperability with CGIF and the CharGer tool are explored. Finally, we offer some general observations about the tenets that make Prolog+CG a success.</p
Het effect van een anisotropiecoëfficiënt in de Poissonvergelijking op de convergentie van de CG-methode en de ICCG(0)-methode
No full textAllerlei diffusieverschijnselen in de natuurkunde kunnen omschreven wordenmet de Poissonvergelijking op een gebied met te kiezen randvoorwaarden. Er zijn echter ook verschijnselen waarin er een gelaagdheid optreedt zodat er in verticalerichting minder makkelijk diffusie kan plaatsvinden. Dit leidt tot een vergelijkingmet toevoeging van een anisotropiecoëfficiënt epsilon, die dicht bij 0 ligt.Via (onder andere) de Finite Volume Method kunnen deze vergelijkingengediscretiseerd worden, wat leidt tot een stelsel Au = f. Hierbij is A symmetrischen positief deniet (alle eigenwaarden zijn positief). Er zijn tallozemethoden om dit stelsel op te lossen. Een hiervan is de CG-methode, eeniteratieve methode, met als uitbreiding de ICCG(0)-methode. De convergentievan de CG-methode blijkt af te hangen van de eigenwaarden van dematrix A. Hoe dichter de eigenwaarden bij elkaar liggen, hoe sneller deconvergentie. De geschaalde eigenwaarden1 van A liggen min of meer geconcentreerdrond 1. Het is voor een snelle convergentie van belang dat dekleinste eigenwaarden niet al te dicht bij 0 liggen. Dit leidt namelijk tottrage convergentie. Er zijn manieren om de eigenwaarden dichter bij elkaarte brengen. We noemen dat preconditionering. De ICCG(0)-methode is eenvorm van preconditionering en zorgt er (onder andere) voor dat de kleinsteeigenwaarden dichter bij 1 komen te liggen. In dit onderzoek wordt onderzochtwat er gebeurt met de eigenwaarden, zowel in de CG-methode als inde ICCG(0)-methode, als de anisotropiecoëfficiënt heel klein wordt. Hetblijkt dat de ondergrens voor de eigenwaarden van A lineair afhankelijk isvan epsilon. Dit leidt tot een zeer trage convergentie van de CG-methode in hetgeval epsilon klein is. Er blijkt echter ook dat preconditionering met behulp vande ICCG(0)-methode voldoende is om de ondergrens voor de eigenwaardenonafhankelijk te maken van epsilon. Dit betekent dat ook in situaties waarinanisotropie optreedt, ICCG(0) een geschikte methode is om de vergelijkingAu = f op te lossen
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Flow test: CG-482 ``DR type`` rear pigtail with B, D, DR and F pile fittings
No full textThis letter transmits the data from the 189-D Hydraulics Laboratory flow test on three CG-482 rear pigtails. The tests were run with a standard B, D, Dr and F rear nozzle and rear Parker fitting over the range of flows and temperatures anticipated for early CG-558 operation. The data from the test are given. All three pigtails gave essentially identical results. For comparison the results of previous tests with present rear pigtails are also plotted
WACO CG-4A
No full textLeft hand side view of the WACO CG-4A, a military aircraft, on the ground.https://corescholar.libraries.wright.edu/special_ms223_photographs/1452/thumbnail.jp
Voluntary corporate governance disclosure by post-apartheid South African corporations
No full textPurpose – The purpose of this paper is to investigate as to whether post-Apartheid South African (SA) listed corporations voluntarily comply with and disclose recommended good corporate governance (CG) practices and, if so, the major factors that influence such voluntary CG disclosure behaviour. Design/methodology/approach – The paper constructs a broad voluntary CG disclosure index containing 50 CG provisions from the 2002 King Report using a sample of 169 SA listed corporations from 2002 to 2006. The authors also conduct regression analysis to identify the main drivers of voluntary CG disclosure. Findings – The results suggest that while compliance with, and disclosure of, good CG practices varies substantially among the sampled companies, CG standards have generally improved over the five-year period examined. The authors also find that block ownership is negatively associated with voluntary CG disclosure, while board size, audit firm size, cross-listing, the presence of a CG committee, government ownership and institutional ownership are positively related to voluntary CG disclosure. Practical implications – These findings have important implications for policy-makers and regulators. Evidence of improving CG standards implies that efforts by various stakeholders at improving CG standards in SA companies have had some positive impact on CG practices of SA firms. However, the substantial variation in the levels of compliance implies that enforcement may need to be strengthened further. Originality/value – There is a dearth of evidence on the level of compliance with the King Report. This study fills this gap by providing evidence for the first time on the level of compliance achieved, as well as contributing generally to the literature on compliance with codes of good governance and voluntary disclosure.<br/
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