This paper presents estimates from a latent variables model of the relation between corporate governance and financial performance. We use data on large US corporations to estimate the correlation, conditional on the firms’ investment opportunity set, between governance and performance. We find that this correlation is statistically speaking zero. This result is consistent with the “equilibrium...

The development and maintenance of a reuse repository requires significant investment, planning and managerial support. To minimise risk and ensure a healthy return on investment, reusable components should be accessible, reliable and of a high quality. In this paper we concentrate on accessability; we describe a technique which enables a developer to effectively and conveniently make use of la...

Several different factors have come together to make the topic of this conference, “Investing Today for the World of Tomorrow,” a timely one for any developed economy, and particularly for Germany. Among them are increased global competition, a seemingly rapid pace of technological change, especially in information-based and network industries, and, in Germany, the need to absorb and restructur...

Financial liberalisation has offered global investors with new investment opportunities via international portfolio diversification. Proper investment planning as well as portfolio diversification and rebalancing require low correlations between the assets under consideration. In general, correlations between countries have increased during the global financial crisis due to contagion, interdep...

Peer-to-Peer (P2P) can support service for lots of end users with little hardware investment, which suits for the efforts to lower down the service cost for Multiplayer Online Games (MOG). In this paper, we introduce PKTown, a P2P middleware inserted into Star Craft and the network layer. PKTown captures all packets generated by Star Craft. Application Layer Multicast (ALM) is a popular techniq...

The holder of a petroleum exploration concession has an investment option until the expiration date fixed by the governmental agency, in some countries these rights can be extended by additional cost. The value of these rights and the optimal investment timing are calculated by solving a stochastic optimal control problem of an American call option with extendible maturities. The uncertainty of...

an in vitro study on the role of intracellular calcium ions in healing of excisional wound in rabbit was undertaken. we employed two drugs namely, glibenclamide and nitroglycerin that are topically applied in vivo to modulate the activity of intracellular calcium. our model consisted of a 15 ´ 15 mm excisional wound. seven groups of new zealand rabbits were used. the first three groups served a...

The Islamic financial system, which was shaped in accordance with principles the legal, economic and of Islam, has developed significantly recent years begun to be implemented western countries as well. Finance investment instruments line have also parallel these developments. One them, sukuk, is issued under name "lease certificates" Turkish Law; constituted an alternative tool for those who d...