Agency theory posits that debt-like compensation (such as defined-benefit pensions and other deferred compensation) aligns managerial interests more closely with those of debtholders and reduces the agency cost of debt. Consistent with theory, we find that a higher CEO relative leverage, defined as the ratio of the CEO's inside leverage (debt-toequity compensation) to corporate leverage, is ass...

A path-planning method based on a combination of the static global and the dynamic local pathplanning methods is proposed for robot path planning under a complex environment. There are known static obstacles and unknown dynamic obstacles in any complex environment. The local-path planner dynamically generates a local path using obstacle-motion prediction and a rolling window for dynamic path pl...

A key challenge in movement ecology is to understand how animals move in nature. Previous studies have predicted that animals should perform a special class of random walks, called Lévy walk, to obtain more targets. However, some empirical studies did not support this hypothesis, and the relationship between search strategy and ecological factors is still unclear. We focused on ecological facto...

We examine the performance of 84 firms that adopt value-based management (VBM) systems during the period 1984-1997. The typical firm significantly improves matched-firm-adjusted residual income after adopting VBM. This improvement persists for the five post-adoption years studied. After controlling for possible sample bias, we find that large firms show less improvement than small firms. We fin...

This article studies the problem of sales-force compensation by considering the impact of sales-force behavior on a firm’s production and inventory system. The sales force’s compensation package affects how the salespeople are going to exert their effort, which in turn determines the sales pattern for the firm’s product and ultimately drives the performance of the firm’s production and inventor...

In a competitive electricity market traditional demand side management options offering customers curtailable service at reduced rates are replaced by voluntary customer responses to electricity spot prices. In this new environment, customers wishing to ensure a fixed electricity price while taking advantage of their flexibility to curtail loads can do so by purchasing a forward electricity con...

This paper analyses and compares the acceleration sensor: ADXL330, ADXL345, ADXL203, and points out that the acceleration sensor functions in sports management system. Sports management system is the main controller in motion process command each node controller through the sensor to collect the movement process of the ADXL system the human body each point in three coordinate axes acceleration ...

one of the debates concerning concepts of “medial motion” and “traversal motion” is the question of which of these two concepts of motion corresponds to motion in the corporeal world. in the present article we intend to employ the language of mathematics to present a model for each of these two concepts to study the above mentioned problem. as a result, medial motion represents a covering funct...