...I appreciate the valuable comments I received at the 2002 AAA meeting. I thank Mark Beasley for sharing his sample of fraud firms. I am also grateful to the librarians at Cornell and the University of Rochester for their invaluable assistance, with special thanks to Don Schnedeker. I thank I/B/E/S for analyst data. I thank the editor and two anonymous reviewers for helpful suggestions that have greatly improved this paper. Finally, I acknowledge the financial support of the Johnson Graduate School of Management. All errors are my own. RESTORING TRUST AFTER FRAUD: DOES CORPORATE GOVERNANCE MATTER? ABSTRACT: This paper examines the association between the credibility of the financial reporting system and the quality of governance mechanisms. Using a sample of firms cited for violation of SEC Rule 10b-5, I find a positive association between fraud...
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...Affairs Ministry of Education Ministry of Finance Ministry of Water Resources Ministry of Agriculture State Environmental Protection Administration State Forestry Administration Chinese Academy of Sciences China Meteorology Administration National Natural Science Foundation State Oceanic Administration China Association for Science and Technology June, 2007 Contents I. Current Status of Climate Change and Urgent Demands for S&T............................................... 1 1. Climate change is an increasingly prominent issue that brings about profound impacts on human societies ......................................................................................................................... 1 2. An appropriate response to climate change would be very much related to China’s economic and social development ............................................................................................ 1 3. Addressing climate change calls for urgent S&T activities .................................................. 1 II. China’s S&T Achievements in Climate Change ......................................................................... 2 1. Scientific research and technological development .............................................................. 2 2. Infrastructure buildup for Scientific Research ...................................................................... 3 3. Human Resources Development and Research Structural Buildup ...............................
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...1. What is a transaction? What are its properties? Why are transactions important units of operation in a DBMS? As defines by the Elmasri and Navathe, Transaction is a sequence of operations that performs logical unit of operations on a database which include one or more operations as insert, delete, update and modification, Transaction is a executing program, the boundaries of a transaction is define as the explicit begin of transaction and end of transaction. Read-only transaction performs only retrieve data from the database and the Read- write operation includes both retrieving and updating transactions. (Elmasri and Navathe 2010 p.745) The properties of a transaction is define as ACID properties as below, Atomicity, Consistency, Isolation and Durability Transaction is the executing program that executes the operations on the database as read(x), write (x) ,so the transactions plays a vital role among database operations. 2. Draw a state diagram and discuss the typical states that a transaction goes through during execution. Figure1. State Diagram of a Transaction Source: Author Begin transaction: This indicates the beginning of a transaction Active phase: in this phase the running of the database operations or write sql queries for perform the tasks is done Partially committed: After performs the needed operations the transaction indicates end state and come to the phase partially committed and store in the buffer but not permanently. Committed: If the transaction was...
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...Control Mechanisms of Wal-Mart Learning Team B MGT/230 November 11, 2013 Christine Russell Wal-Mart Control Environment Wal-Mart is very successful, and success is motivated by the evaluated and regulated control mechanisms in place. The controls Wal-Mart use are implemented and controlled very strictly. Control mechanisms are defined as a process that directs the activities to achieve the business goals. These controls are market, clan, and bureaucratic controls, which are needed to ensure plans are completed properly. As an organization, Wal-Mart delegates each division to implement their own controls to fit the needs of the division. When integrated with other divisions, this ensures the success and effectiveness of the company. Effectiveness of Internal Controls The responsibility management has for maintaining adequate internal control is designed to provide assurance that the information provided is reliable. The effectiveness of the internal control process was assessed by management and found to be effective as of January 2009 with effectiveness of internal control being assessed by the ethics of the company. Wal-Mart was founded on the belief of the highest ethical standards to be successful. They maintain an “open door” policy that allows the timely addressing of issues within the company. The ethical standards include honesty, trust, and integrity with a higher standard of ethics for senior management. Environmental Controls and Functions of Management ...
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...Ward-Leonard Motor Generation System Introduction: A control system generally controls, regulates, and updates its output continuously based on present inputs, nature of the system, and the past outputs. In other words, there is a feedback mechanism that is inherent in the system, and is called a closed loop control system. For example, adding an emitter resistance to a common emitter amplifier, results in a negative feedback mechanism in the amplifier system – if the output current increases, the input voltage decreases accordingly so as to reduce the output current; if the output current decreases, then the input voltage increases in order to raise the output current level. Negative feedback thus ensures that the output is always controlled to stay within an optimal range. Similarly other systems may exhibit a positive feedback mechanism. In either case, a control system can be represented as follows: Figure 1: Control System representation In Figure 1, G represents the forward loop function and Fb represents the feedback function. In case the Fb function is absent, the system is reduced to an open loop system. The most popular representation of control systems is using the ‘Block Diagram’ approach (Balakrishnan, 1988). Each component in the system is represented as a block, with its role represented as a mathematical function. From the block diagram representation, the overall function of the system, called the transfer function, is obtained. The transfer function...
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...Control Mechanisms of Walmart Corporation Companies all across the world use control mechanisms to achieve and monitor the success of the organization. If a company has planned poorly the goals, objectives, or a disagreeing management, the likelihood of the company surviving for any length of time becomes slim and considered an out-of-control company. Managers today must control their people, inventories, quality, and costs, to mention just a few of their responsibilities (Bateman & Snell, 2009). The three broad strategies for achieving organizational controls consist of bureaucratic control, market control, and clan control (Bateman & Snell, 2009). When planning for these controls managers follow four steps for each: setting performance standards, measuring performance, comparing performance against the standards, and determining deviations, along with taking actions to correct problems and reinforce success. The paper will focus on the control mechanisms of Walmart Corporation and how the mechanisms compare and contrast from others, their effectiveness, positive and negative reactions, and how each affect the four functions of management. Walmart Corporation Walmart serves more than 200 million customers and members throughout their 8,650 retail units between the companies 55 operating banners in 15 countries on a weekly basis (Walmart, 2010). With sales in 2010 of over $405 billion, employing more than Two million associates worldwide, and receiving the title of 2010s...
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...Control Mechanisms Paper November 7, 2011 Control Mechanisms Paper Control mechanism within an organization is a process that manages, and directs the activities of employees toward organizational goals. Control is how capable managers make sure organizational activities are going as corporately planned. The lack of or the wrong kind of control within an organization can cause damage, that sometime can not be repaired (Bateman, T, Snell, S. 2009). Control mechanisms help managers to seek compliance with corporate goals, standards, values, and plans. Control Mechanisms Starbucks has many control mechanism, however the top four mechanisms are what drive the highly successful business. Budget control mechanisms are used to detect, and remove waste thus reducing store-opening cost. Financial controls are used to determine location of stores, and property leasing versus property ownership. Quality control is used to secure the most supreme coffee beans, market control is used for growth, and expansion strategies, and clan control which is used to create a partnership between employees and corporate. Starbucks employees are called partners which develop shared values and beliefs, culture, trust, and expectations. Starbuck’s uses these controls to manage the daily activities of their employees to the extent that they have become the number one coffee house in the world, both nationally, and soon to be internationally as they continue to expand in other countries...
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...Ecological Economics 24 (1998) 259 – 274 Scope and limits of the market mechanism in environmental management Bo Gustafsson Swedish Collegium for Ad6anced Study in Social Sciences, SCASSS, Gota6agen 4, S-75236 Uppsala, Sweden ¨ ¨ Abstract This paper tries to evaluate the role of the market mechanism in environmental management and warns against reductionist views on the causes and remedies of environmental damages. According to some of these views, proper pricing of the environment and extensive use of market mechanisms in environmental management would solve environmental problems. But various conditions tell against such simplifications, namely: the complex causality behind environmental damages; the complexity of the functions and values of nature; as well as limitations of the market mechanism in coping with the functions and services of nature. Several of those limitations — the difficulties of defining and enforcing property rights to nature’s functions and services; the pervasiveness of externalities conditioned by the public goods characteristics of many environmental functions and values; the difficulties in enticing, processing and using information about environmental goods; and the high transaction costs caused by all these circumstances—often rule out contracts and trading of environmental services. It is less known that the basic cause of market existence and extension, namely specialization and division of labour, have negative environmental effects. With respect...
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...Test Correlation Table Question Types/Level of Difficulty |LEARNING OBJECTIVES | |Easy |Moderate |Difficult | |1. Explain the foundations of control. |TF |1, 3 |2, 4, 5, 7 |6 | | |MC |1, 5, 7, 10, 13, 16, 23, |2, 6, 8, 9, 11, 12, 14, |3, 4, 20, 27, 30, 31, 36,| | | |24, 34 |15, 17, 18, 19, 21, 22, |37 | | | | |25, 26, 28, 29, 32, 33, | | | | | |34, 35 | | | |ES |— |1, 2, 3 |— | |2. Identify the six phases of the corrective |TF |10, 11, 13, 15, 16 |8, 9, 17, 18 |12, 14, 19 | |control model. | | | | | | |MC |39, 43, 49, 51 |38, 42, 44, 45, 46, 50 |40, 41, 47, 48 | | ...
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...CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY The experience of business failure and financial scandals around the world brought about the need for good governance practices. The United States of American, Brazil, Canada, Germany, France, England, Nigeria all witnessed financial failures in the 90s and in the recent periods. This view was supported by Bell et al (2000), that the last 20 years witnessed several bank failures throughout the world. Financial distresses in most of these countries were attributed to a high incidence of non – performing loans, weak management and poor credit policy. In the view of Omankhanlen (2011), the development was said to have reflected the deterioration in the quality of credit facilities, coupled with the ongoing reclassification of bank assets. The banking institution occupies a vital position in the stability of the nation’s economy. It plays essential roles on fund mobilization, credit allocation, payment and settlement system as well as monetary policy implementation. Management is expected to exhibit good governance practices to ensure achievement of it objectives and avoid the consequences of failure leading to loss of confidence. This view was supported by Wilson (2006) that poor corporate governance can lead market to lose confidence in the inability of a bank to properly manage it assets and liability, including deposits which could in turn trigger a bank liquidity crisis. Oluyemi (2005) considered corporate governance...
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...Control Mechanisms of Boeing Boeing’s internal controls ensure that the executive leadership and personnel reasonably achieve specified business objectives within tolerable business risk limits. Boeing’s control environment consists of interrelated components, including governance by a functioning of the board of directors (BOD), management’s philosophy and operating styles, assignment of authority, and integrity and ethics values. Boeing’s internal control environment is a reflection of the organizations consciousness, philosophies, and behaviors that emanate throughout the organization from the top down. Continual review, evaluation, and amendments of existing internal controls ensure Boeing’s business goals are met that will ensure a successful future (Corporate Governance Principles, 2013). Effectiveness of Boeing’s Control Mechanisms “The global economy is becoming more integrated than ever before” (International Management, 2011, p. 200). Therefore, Boeing’s control mechanisms enabled them to establish a remarkably diverse team of business partners, employees, and community relations. Boeing’s commitment of providing a welcoming, respectful, and engaging work environment with the possibilities of growth for employees has motivated productivity and innovation. Boeing is creatively building character and discipline in tomorrow’s future by securing values in today’s culture. Reactions to Boeing’s Control Mechanisms Boeing strives to be an industry leader...
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...Control Mechanisms of General Motors Team A: MGT/230 23-Dec- General Motors Control Environment As one of the world’s largest auto manufacturers, General Motors (GM) has over 212,000 employees in nearly 400 facilities over six continents. Due to the size and divisions, GM takes a multifaceted approach to organizational control mechanisms. This is considered as a balanced scorecard approach (Bateman & Snell, 2011). Their strategic vision is formed by their Board of Directors and CEO/President of the Board, David F Ackerson. Through his lead, the GM management team manages various control mechanisms to oversee this mixture of bureaucratic, market, and clan controls. These controls ensure that the goals formed in their strategic vision are realized at their bottom line. Control Mechanisms Using well-defined policies, procedures and formal authority, the GM management team transfers their strategic vision to its employees. GM uses market controls which includes, pricing mechanisms that influence the profits attained through the new model of vehicles it produces. GM uses clan control to thrive on employees’ creative problem solving skills, as much as on teamwork. Mutual respect, responsibility, and good judgment calls are keys. The controls allow GM to maintain set standards in the areas of product quality, customer satisfaction and competitive pricing. The controls considered perception of GM’s employees. There is concern with all types of controls regarding...
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...important than strategy formulation. . @ Pages and References: p141 *a. T b. F 2. The comment, “Brilliant strategy; lousy implementation” reflects the fact that strategy formulation and strategy implementation are distinct, separable activities. @ Pages and References: p142 a. T *b. F 3. Operating plans and capital expenditure budgets are the key mechanisms through which strategy drives resource allocation. @ Pages and References: pp146-147 *a. T b. F 4. Firm and markets represent the two primary modes of economic organization in the capitalist economy. @ Pages and References: pp148-149 *a. T b. F 5. By the main organizational innovation of the first two decades of the 20th century was the emergence of the multidivisional corporation. @ Pages and References: p148 *a. T b. F 6. Corporations are not the dominant organizational form in all industries. In agriculture and professional services other forms of business enterprise dominate. @ Pages and References: p148 *a. T b. F 7. In general, “structure follows strategy.” @ Pages and References: p143 a. T *b. F 8. Firms primarily exist because of the efficiency benefits of specialization and division of labor. @ Pages and References: p150 *a. T b. F 9. Reaction against the constraints of hierarchical control meant that most business enterprises are no longer organized as hierarchies. @ Pages and References: p153-154 a. T *b. F 10. During the past two decades, the hierarchical structures...
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...Fuzzy Control Kevin M. Passino Department of Electrical Engineering The Ohio State University Stephen Yurkovich Department of Electrical Engineering The Ohio State University An Imprint of Addison-Wesley Longman, Inc. Menlo Park, California • Reading, Massachusetts Don Mills, Ontaria • Sydney • Bonn • Harlow, England • Berkeley, California • Amsterdam • Mexico City ii Assistant Editor: Laura Cheu Editorial Assistant: Royden Tonomura Senior Production Editor: Teri Hyde Marketing Manager: Rob Merino Manufacturing Supervisor: Janet Weaver Art and Design Manager: Kevin Berry Cover Design: Yvo Riezebos (technical drawing by K. Passino) Text Design: Peter Vacek Design Macro Writer: William Erik Baxter Copyeditor: Brian Jones Proofreader: Holly McLean-Aldis Copyright c 1998 Addison Wesley Longman, Inc. All rights reserved. No part of this publication may be reproduced, or stored in a database or retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America. Printed simultaneously in Canada. Many of the designations used by manufacturers and sellers to distinguish their products are claimed as trademarks. Where those designations appear in this book, and AddisonWesley was aware of a trademark claim, the designations have been printed in initial caps or in all caps. MATLAB is a registered trademark of The MathWorks...
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...Multiuser Wireless Sytems and Networks (Project Proposal) 1 Introduction MIMO communication and cognitive radios have both been two of the most productive areas of research thelast decade in the wireless communication community. Generally speaking, a cognitive radio automatically adapts its transmission and/or reception parameters in a way that it is bene_cial to him and/or to the entirewireless communication network. A typical paradigm (and the one that this project will assume) is onewhere secondary users (SUs) communicate (radios that do not \own" the wireless resources that are usingfor their communication) and coexist with the primary users (PUs) without harming their communication.MIMO technology provides a means for the SUs to adapt their transmission in a way that the PUs are not severely a_ected. In this project, my starting point will be a recent work from Yair Noam and Andrea Goldsmith [1],where the authors propose a Null-Space Learning algorithm for Spatial coexistence. In few words, the SUTransmitter learns the null-space of the PU receiver and then transmits only in this subspace so as to causeminimal interference. The goal of this project is to extend this work for time-varying channels and to proposetracking algorithms that could mitigate the e_ects of a changing wireless environment.In section 2 we are going to present the framework in which we are going to work on, and in section 3we are going to provide a detailed description of the goals and plans of...
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