...Stabilization Wedges: Solving the Climate Problem for the Next 50 Years with Current Technologies S. Pacala, et al. Science 305, 968 (2004); DOI: 10.1126/science.1100103 The following resources related to this article are available online at www.sciencemag.org (this information is current as of March 6, 2007 ): Updated information and services, including high-resolution figures, can be found in the online version of this article at: http://www.sciencemag.org/cgi/content/full/305/5686/968 Downloaded from www.sciencemag.org on March 6, 2007 Supporting Online Material can be found at: http://www.sciencemag.org/cgi/content/full/305/5686/968/DC1 This article has been cited by 56 article(s) on the ISI Web of Science. This article has been cited by 11 articles hosted by HighWire Press; see: http://www.sciencemag.org/cgi/content/full/305/5686/968#otherarticles This article appears in the following subject collections: Atmospheric Science http://www.sciencemag.org/cgi/collection/atmos Information about obtaining reprints of this article or about obtaining permission to reproduce this article in whole or in part can be found at: http://www.sciencemag.org/about/permissions.dtl Science (print ISSN 0036-8075; online ISSN 1095-9203) is published weekly, except the last week in December, by the American Association for the Advancement of Science, 1200 New York Avenue NW, Washington, DC 20005. Copyright c 2004 by the American Association for the Advancement of Science; all rights reserved...
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...9-798-062 REV: FEBRUARY 25, 2006 PANKAJ GHEMAWAT JAN W. RIVKIN Creating Competitive Advantage Some companies generate far greater profits than others. The pharmaceutical maker ScheringPlough produced an economic profit of more than $10 billion during the period 1984-2002. That is, the accounting profit it generated exceeded its cost of equity capital by that amount. Over the same period, U.S. Steel produced an economic loss of nearly $500 million; its cost of capital exceeded its accounting profit by a wide margin. Such large differences in economic performance are commonplace. Understanding their roots is crucial for strategists. Differences in industry structure shed some light on such differences in performance. To a certain extent, Schering-Plough has generated more economic profit than U.S. Steel because the pharmaceutical industry is structurally more attractive than the steel industry. Rivalry in the pharmaceutical market is muted by factors such as patent protection, product differentiation, and expanding demand; in contrast, rivalry in the steel industry is fierce—fueled by excess capacity, limited differences across products, and slow growth. Many pharmaceutical users hesitate to switch among products or brands, while steel customers are usually willing to switch among producers to get a better price. Many pharmaceuticals are made from commodities with little labor input, while unions exercise such power in the steel industry that labor costs often account for...
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...protection became stricter, but with an increase of up to 11% in the United States and United Kingdom, where unions became less powerful and (in the United States) minimum wages fell. W age inequality is substantially lower in continental European countries than in the United States and United Kingdom, and its evolution over time has differed greatly across countries. The same holds true for the skill (or education) wage premium. Changes in the supply of and demand for skills are unlikely to fully account for these marked differences (Acemoglu 2003). A substantial amount of research on wage inequality has examined the forces that may shift the relative demand for skills, such as changing trade patterns and skill-biased technical change. However, since developed economies operate in the same global environment, with integrated trade and equal access to technology, *Winfried Koeniger is Senior Research Associate at IZA, University of Bonn; Marco Leonardi is Assistant...
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...CORPORATE OWNERSHIP IN LATIN AMERICAN FIRMS: A COMPARATIVE ANALYSIS OF DUAL-CLASS SHARES Luiz Ricardo Kabbach de Castro Rafel Crespi i Cladera Universitat de les Illes Balears Ruth V. Aguilera University of Illinois at Urbana-Champaign We assembly new data on dual-class firms in Latin America and analyze the relationship between the largest shareholder characteristics and its decision to leverage voting rights. First, we describe who are the largest shareholders in Latin American firms. Second, we find that both the type and origin of the largest shareholder, together with firm- and country-level characteristics, are important determinants to explain the decision to separate voting from cashflow rights. To tackle the determinants of ownership in Latin American publicly listed firms has both managerial and policy implications because the largest shareholders are those in charge to define business strategies and the allocation of firms’ resources. Key words: Corporate ownership; dual-class shares; voting rights; cash-flow rights; Latin America. 1 INTRODUCTION Most of the analysis of the Modern Corporation has focused on the conflicts of interest between managers and owners. Yet, recent literature, extending the discussion of the classic ownermanager conflict, adds minority versus majority shareholders conflict where more concentrated ownership structures takes place (La Porta, López-de-Silanes, & Shleifer, 1999; Villalonga & Amit, 2009; Young, Peng, Ahlstrom, Bruton,...
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...Version: June 18, 2000 This Version: January 22, 2001 Abstract This paper examines the long-standing theory that small firm growth is often constrained by the quantity of internal finance. Under plausible assumptions, when financing constraints are binding, an additional dollar of internal finance should generate slightly more than an additional dollar of growth in assets. This quantitative prediction should not hold for the relatively small number of firms with access to external equity. We test these predictions with a panel of over 1600 small firms and find that the growth of most firms is constrained by internal finance. Our results have implications for several different research literatures, including models of firm growth. JEL Codes: L0, D9 We thank Steven Fazzari, Lauren Lax, Josh Lerner, Dorothy Petersen, Laura Rondi, Alessandro Sembenelli, Jim Rebizter, James Stock and three anonymous referees for valuable comments and suggestions. We also thank seminar participants at Binghamton University, Case Western Reserve University, the CEPR Conference on Industrial Structure, CERIS-CNR, Depaul University, the 1998 EARIE meetings, the International Conference on Funding Gaps at the University of Warwick, the London School of Economics, the University of Michigan, the University of Missouri, the University of Turin, and the University of Wyoming. 2 I. INTRODUCTION Despite a recent revival in research, comparatively little is known about firm growth or its determinants...
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...Between a Causal Model And a Time- Series Model? In: Business and Management Choose One Of The Forecasting Methods And Explain The Rationale Behind Using It In Real Life. What Is The Difference Between a Causal Model And a Time- Series Model? Choose one of the forecasting methods and explain the rationale behind using it in real life. I would choose to use the exponential smoothing forecast method because it weighs the most recent past data more strongly than more distant past data. This makes it so that the forecast will react more strongly to immediate changes in the data. This is good to examine when dealing with seasonal patterns and trends that may be taking place. I would find this information very useful when examining the increased production of a product that appears to be in higher demand in recent times than past. Describe how a domestic fast food chain with plans for expanding into China would be able to use a forecasting model. By looking at the data of other companies the fast food chain would be able to put together a forecast to determine if their business venture was viable. They could examine the sales data and determine through a exponential smoothing forecast if it made sense for them to enter into the market. This would show the trends and changes in the data more recently rather than in past time. What is the difference between a causal model and a time- series model? Give an example of when each would be used. The time–series model is based on...
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...------------------------------------------------- avoid predation by evolution by Joseph Yang April 13, 2015 by Joseph Yang April 13, 2015 Evolution is a change in the gene frequency in a population through time. Evolution causes an organism’s ability to survive to increase. In many cases, predators evolve to catch their prey more efficiently. Evolution is not one sided. The prey also evolves to avoid predation. In this paper, I will discuss three researches done on a prey’s evolution to survive against predation. I will discuss the tail autonomy in Tokay gecko (Sanggaard et al. 2012), the odorous and non-fatal secretion in Wrinkled frog (Yoshimura and Kasuya 2013), and the avoidance response in Brownbanded bamboo shark embryos (Kempster et al. 2013). Together, these studies show the effectiveness and vital impact of evolution to the survival of prey. Sanggaard et al. (2012) researched evolution in Tokay gecko (Gekko gecko) to investigate the mechanism of their tail autonomy by facilitating autonomy. The geckos were euthanized by pentobarbital and the tails were removed by induced autonomy. Moisture from the exposed end of the tail was collected and subjected to Gel Electrophoresis and Mass Spectrometry and analyzed using MS-BLAST. The tails’ structure was analyzed through multiple methods. Through Magnetic Resonance Imaging, a Micro Imaging 5 probe, a Great 60 Imaging system, a saddle coil, and a gradient cooling temperature of 20°C was utilized. Electron Microscopy...
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...Presentation to the Parliamentary Portfolio Committee for Water and Environmental Affairs, 29 March 2011, Parliament, Cape Town “If we do not know where we are going, we could claim a step in any direction as progress” (Overheard during a robust discussion on the Presidency’s outcome‐based approach to prioritisation, planning and reporting) “Set a target for the reduction of greenhouse gas emissions as part of our responsibility to protect the environment and promote sustainable development, and to participate in sharing the burden with the global community under a common framework of action” (One of the climate change resolutions of the ANC’s 52nd National Conference in Polokwane in 2007) Presentation overview The mitigation challenge – the South African Greenhouse Gas (GHG) profile A quick introduction to Arithmophobia Concerns around the numbers. The ‘non‐numbers’ – The Long‐Term Mitigation Scenarios’ (LTMS) Required by Science trajectory – “our aspirational goal” Cabinet’s 2008 ‘peak, plateau and decline’ directive The 2009 ‘Copenhagen Undertaking’ Finding a definition that is sensitive to the concerns. A possible way forward. South Africa’s GHG profile (2000) South Africa’s GHG profile – Energy Emissions South Africa’s GHG profile – Fuel Combustion Energy Industries South Africa’s GHG profile – Initial update figures Arithmophobia ‐ Fear of Numbers Arithmophobia is also known as 'numerophobia'. Having a fear of numbers has an adverse effect on the ...
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...Beyond Selfishness A syndrome of selfishness, built on a series of half-truths, has taken hold of our corporations and our societies, as well as our minds. This calculus of glorified self-interest and the fabrications upon which it is based must be challenged. Henry Mintzberg, Robert Simons and Kunal Basu O n Wall Street, where shareholder "value" is vigorously pursued through ever leaner and meaner organizations, business as usual changed ahruptly on September 11, 2001. Within hours after the tragedy, obsession witb self gave way to serving others. At the very epicenter of self-interest, people became engaged in collective et^brt. There is a message for managemenl in this. Tbe point is not tbat concern lor otbei's is suddenly going to replace self-interest, but that there bas to be a balance between tbe two. The events of September 11 and the following days belped to make evident how out of balance our society has become. The role of management •— responsible management — is to work toward restoration of that balance. urged to ignore broader social responsibilities in favor ol' narrow sbareholder vaiue; chief executives have been regarded as if they alone create economic performance. Meanwhile, concern for the disadvaiKaged — simple, old-fasbioned generosity — has somebow been lost. A society devoid of selfishness is certainly difficult to imagine. But a society tbat glorifies selfishness can be hnagined only as base. Tbe intention here is to challenge such a society...
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...Lung cancer is one of the leading killers of people today. I know it’s a serious thing. I know it can be very dangerous. I also know that smoking cigarettes is one of the main reasons why people get lung cancer in the first place. But there are a lot of things I don’t know. What exactly is lung cancer? How does it form? What are the symptoms? What other things cause it? What kind of treatment do people go through to cure it? How likely is it to die from lung cancer? Who suffers from lung cancer the most? After searching the Internet, I found many websites relating to lung cancer. Lung cancer, by the name, is cancer that starts in the lungs. As you breathe, air travels through the nose, down the windpipe, in the lungs and through tubes called bronchi. Usually, lung cancer begins in the cells that line the bronchi. The most common types of lung cancer are called non-small cell lung cancers. Non-small cell lung cancer usually grows and spreads faster than any other type. There are three common forms of non-small cell lung cancer. The first is adeonicarcinomas. This is usually found in the outer area of the lung. The second is squamous cell carcinomas. This is usually found in the center of the lung. The third is large cell carcinomas which can happen in any part of the lung. Non-small cell lung cancers come in four stages. In stage I, the cancer is just in the lung. In stages II and III, the cancer is in the lung and might also be in the lymph nodes. Stage IV of lung cancer...
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... < nco 2 ncl nco , 112 is increased. To achieve a good match to optical fibers, silica waveguides are usually designed to have D in the range 0.3–0.7%. Coupling loss as low as 0.05 dB has been reported for such waveguides.1 Increasing D, however, may be preferable because it makes a reduction of the size 1and hence the price2 of an optical component possible.2 The size reduction is mainly due to shorter coupling lengths in directional couplers and reduced radius of curvature in S bends. Systematic calculation of the coupling loss between waveguides and optical fibers has to our knowledge L. O. Lierstuen is with the Center for Technology at Kjeller, P.O. Box 70, N-2007 Kjeller, Norway. A. Sv. Sudbø is with Norwegian Telecom Research, P.O. Box 83, N-2007 Kjeller, Norway. Received 30 August 1993; revised...
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...Callaway Golf Clubs Term Paper Assignment Webster University Marketing 5000-02 Fall I 2010 Rashad A. Myers Executive Summary Callaway is a premium golf equipment company which focuses on increasing the overall experience of playing the game for those that use its products. The company will increase market share and profits by focusing on specific target markets over the next 12 months. Environmental Analysis Socio-Culturally, Callaway is affected by the fact that the majority of its customers are Caucasian and male. Further, this demographic is largely made up of male baby boomers, and this segment is aging rapidly, with many giving up the game due to health reasons. Also, children are not taking up the game with the numbers that they used to. Instead, they opt for video games and other sports. Politically, Callaway is not affected by legislation. Callaway is certainly impacted by what is going on economically. Golf is a relatively expensive sport to play with any regularity, when you take into consideration the equipment costs and green fees. One of the first activities that are limited is recreational spending in a down economy. The company will suffer if people’s discretionary spending is limited for extended periods of time. Callaway is affected by Legal and Regulatory forces because its governing body, the United States Golf Association (USGA) can make changes to equipment any time it wants to. Callaway incorporates technology heavily in their...
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...Suicide Research Paper Cassandra Tankersley Suicide. It is something that more than 36,000 Americans successfully manage to do every year. It is something that is considered to be a “socially unacceptable” topic of discussion. It is something that affects hundreds of thousands of people each and every day, often in ways most cannot imagine. And I believe that it is something that needs to stop being hidden in the darkest of closets. Without this subject being discussed and researched with more depth than what is already taking place, it will remain a subject without a whole lot of general understanding behind the whys and the causes of people choosing to end their lives. I will admit that this topic is something extremely personal for me, so my views may be colored as to what should be done about the knowledge of suicide, however, I cannot help but feel that this topic is long overdue for its spotlight in the medical world. Make no mistake – this is not about the accidental suicides; it is very much about those who willingly and intentionally plan to and successfully commit suicide. There are various facts a quick Google search can dig up in regards to suicide – such as men are four times as likely to commit suicide than women are, and it's easily discernible that the focus on suicide prevention is on teenagers with recent focus being added to those considered “middle age”. It's also very easy to locate information on “how to help prevent suicide”. But the fact of the matter...
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...nurses usually receive their degree in a two year or community college setting. A Bachelor of Science degree in nursing is a four year academic degree. The debate over minimum education requirements for nurses has been going on for decades and there still seems to be no general consensus. The subject of entry level education requirements is one that is very divisive to many nurses. Internet searches bring up thousands of blogs, message board postings, position statements and statistics related to this issue. In this paper the focus will be on ADN and BSN nurses. Associate degree programs are designed to train students to provide entry level care in a hospital setting. The ADN is an attractive option for many due to shortened program time and the reduced tuition rate. Baccalaureate nursing programs have additional classes in humanities, the sciences and expanded nursing coursework. The additional classes in community health nursing, nursing management and research are designed to provide the BSN prepared nurse for a broader scope of practice. This enables the BSN prepared nurse to move away from direct bedside care in a hospital setting. The BSN degree also serves as a bridge to those who want to continue their education at the graduate level. The American Association of Colleges of Nursing has posted a detailed position statement (2000) and fact sheet (2010) on their websites endorsing the position that the minimum entry level requirement for nurses be a BSN degree. In Benner...
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...Managerial Applications of Information Technology – MIS535 DeVry University, Keller Graduate School of Management June 16, 2013 Table of Contents Abstract 3 Brief Company background 3 Discussion of business problem(s) 4 High level solution 4 Benefits of solving the problem 4 Business/technical approach 5 Business process changes 5 Technology or business practicess used to augment the solution 5 Conclusions and overall recommendations 12 High-level implementation plan 12 Summary of project 12 Abstract The principal objective of this paper is to identify the different kinds of software and hardware available to improve the economic growth of the Smith Enterprise business. To add several IT strategic planning in order to solve the problem in the MacKenn Enterprises Company. Smith Enterprises currently is losing money and has no inventory or supply management. It has no ability to track down current cost or any financial data. The company has no support of cataloging for pricing of any product. Records are not filed, and there is no real organization. By implementing new technology to this company it can be more productive and self sufficient. With new software and other new equipment it will make a tremendous impact and smooth management of the company. Brief Company background The name of the company is Smith Enterprises. The company is just a small owned home business that...
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