We analyze the effect of committee formation on how corporate boards perform two main functions: setting CEO pay and overseeing the financial reporting process. The use of performance-based pay schemes induces the CEO to manipulate earnings, which leads to an increased need for board oversight. If the whole board is responsible for both functions, it is inclined to provide the CEO with a compen...

This paper analyzes a ,two-period setup in which firms differ with respect to costs of care and may use care-taking to signal type to consumers, who are able to observe precaution taken only ex post. Applying the refinement of the intuitive criterion to the concept of the perfect Bayesian equilibrium, we establish a unique separating equilibrium for every share of harm borne by firms. For low l...

In response to the corporate scandals in 2001-2002, the major U.S. exchanges came up with new regulations which are intended to enhance board oversight. We use this regulation event to shed light on the effect of board oversight on CEO compensation. We find that firms that were not complying with these regulations decreased their CEO compensation by between 20%-25% upon compliance, compared to ...

In conventional motion compensation, prediction block is related only with one motion vector for P frame. Multihypothesis motion compensation (MHMC) is proposed to improve the prediction performance of conventional motion compensation. However, multiple motion vectors have to be searched and coded for MHMC. In this paper, we propose a new low-cost multi-hypothesis motion compensation (LMHMC) sc...

This paper gives a clear look at the segmentation process at the basic level. Segmentation is done at multiple levels so that we will get different results. Segmentation of relative motion descriptors gives a clear picture about the segmentation done for a given input video. Relative motion computation and histograms incrementation are used to evaluate this approach. Also here we will give comp...

For the internal dynamics of molecules it is of crucial importance that nuclei are much heavier than electrons. This leads to the adiabatic picture of the nuclei motion with respect to the motion of electrons. In the adiabatic picture, the coordinates of nuclei play the role of external parameters with respect to the state of the electronic sub-system, that is they play the same role as the adi...

course, arising out of the Workmen's Compensation Act, but sometimes under common law as well ; and therefore a review of those decisions which have helped to define what an accident is may not be out of place at a medical meeting. It is curious that neither of the Workmen's Compensation Acts contained this definition, so that the meaning of the term has tended to vary case by case. Prior to th...

due to the tilt of the platform carrying the synthetic aperture radar(sar), the image formation algorithms(like rda) can not yield to good quality images from the ground. therefore, it is convenient to use a two-step approach for motion compensation in image formation algorithms. in this paper, using an approximated linear model for the motion error and the impact of range compression step of r...

In this paper, we develop a hierarchical global motion estimation/compensation system which is used to improve the block-based motion compensation in the current low bitrate video coding standard H.263. The system first detects the background motion by examining the local motion information using hierarchical block matching and global motion estimation algorithm. If the background motion exists...

Change detection using difference picture has been used to detect the location of moving targets and to track them. This method needs the assumption of static camera, and the global motion compensation is required in case of a moving camera. In this paper, we suggest a method for finding minimum bounding rectangles(MBRs) of moving targets in the image sequences using moving region detection, es...