scholarly journals Zeggenschap in de publieke onderneming: empty voting, hidden ownership, securities lending en short selling

2011 ◽  
Vol 85 (6) ◽  
pp. 306-316
Author(s):  
Piet Duffhues ◽  
Sanne Van Oirschot
Keyword(s):  
A Priori ◽  
Short Selling ◽  
Private Benefits ◽  
Kunnen Zijn ◽  
Vote Trading ◽  
Hidden Ownership ◽  
Empty Voting

Het stemrecht op aandelen in publieke ondernemingen is na een lange periode van betrekkelijke desinteresse opnieuw terug in de aandacht van ondernemingen, beleggers, toezichthouders, juristen, academische onderzoekers en wetgevers. Traditioneel hielden alleen ondernemingen zich via de Algemene Vergadering van Aandeelhouders (AVA) bezig met het regelen van het stemrecht. Sinds enkele jaren doen dat ook de financiële markten zelf en wel op afstand van de onderneming. Dit vindt plaats in de vorm van financiële transacties die als innovatief kunnen worden beschouwd waardoor het cashflowrecht wordt gescheiden van het stemrecht op aandelen (‘ontkoppeling’ en ‘vote trading’). Traditioneel zijn deze twee rechten gebonden aanwezig in aandelen. De implicaties van deze transacties plaatsen de leiding van ondernemingen en de wetgever voor grote afwegingsproblemen. Dit artikel concludeert dat er geen reden is om de nieuwe financiële transacties a priori af te wijzen omdat deze vaak zullen berusten op een economisch rationele grondslag. Omdat concurrentiebeperking en het onttrekken van ‘private benefits’ hoofddoelen van de stemmende aandeelhouder kunnen zijn, is echter waakzaamheid geboden. Desondanks bieden deze overwegingen geen steekhoudend argument tegen ontkoppeling, omdat dit motief even goed leidend kan zijn wanneer cashflow- en zeggenschapsrechten niet gescheiden zijn.

Shareholder Decisionmaking in the Presence of Empty Voting and Hidden Ownership

2014 ◽  
Author(s):  
Jordan M. Barry ◽  
John William Hatfield ◽  
Scott Duke Kominers
Keyword(s):  
Hidden Ownership ◽  
Empty Voting

scholarly journals Private Benefits, Public Vices: Railways and Logrolling in the Nineteenth-Century British Parliament

2021 ◽  
pp. 1-40
Author(s):  
Rui Esteves ◽  
Gabriel Geisler Mesevage
Keyword(s):  
Nineteenth Century ◽  
Rent Seeking ◽  
Negative Externality ◽  
Private Benefits ◽  
Vote Trading

Vote trading among lawmakers (logrolling) can enable political rent-seeking but is difficult to identify. To achieve identification, we explore the rules governing voting for railway projects in the U.K. Parliament during the Railway Mania of the 1840s. Parliamentary rules barred MPs from voting directly for their interests. Even so, they could trade votes to ensure their interests prevailed. We find that logrolling was significant, accounting for nearly one-quarter of the railway bills approved. We also quantify a negative externality to society from logrolling ranging from 1/3 to 1 percent of contemporary GDP.

Application of cross correlation to HREM images of surfaces

1987 ◽  
Vol 45 ◽  
pp. 754-755
Author(s):  
D. E. Luzzi ◽  
L. D. Marks ◽  
M. I. Buckett
Keyword(s):  
Cross Correlation ◽  
A Priori ◽  
Matrix Material ◽  
Correlation Method ◽  
Accurate Knowledge ◽  
Complex Image ◽  
Fourier Filtering ◽  
The Matrix ◽  
Low Pass ◽  
Data Reduction Technique

As the HREM becomes increasingly used for the study of dynamic localized phenomena, the development of techniques to recover the desired information from a real image is important. Often, the important features are not strongly scattering in comparison to the matrix material in addition to being masked by statistical and amorphous noise. The desired information will usually involve the accurate knowledge of the position and intensity of the contrast. In order to decipher the desired information from a complex image, cross-correlation (xcf) techniques can be utilized. Unlike other image processing methods which rely on data massaging (e.g. high/low pass filtering or Fourier filtering), the cross-correlation method is a rigorous data reduction technique with no a priori assumptions.We have examined basic cross-correlation procedures using images of discrete gaussian peaks and have developed an iterative procedure to greatly enhance the capabilities of these techniques when the contrast from the peaks overlap.

Towards 1-Ångstrom-resolution STEM

1993 ◽  
Vol 51 ◽  
pp. 996-997
Author(s):  
H.S. von Harrach ◽  
D.E. Jesson ◽  
S.J. Pennycook
Keyword(s):  
High Resolution ◽  
Field Emission ◽  
Phase Contrast ◽  
Spherical Aberration ◽  
A Priori ◽  
Dark Field ◽  
Image Resolution ◽  
Objective Lens ◽  
Annular Dark Field ◽  
First Results

Phase contrast TEM has been the leading technique for high resolution imaging of materials for many years, whilst STEM has been the principal method for high-resolution microanalysis. However, it was demonstrated many years ago that low angle dark-field STEM imaging is a priori capable of almost 50% higher point resolution than coherent bright-field imaging (i.e. phase contrast TEM or STEM). This advantage was not exploited until Pennycook developed the high-angle annular dark-field (ADF) technique which can provide an incoherent image showing both high image resolution and atomic number contrast.This paper describes the design and first results of a 300kV field-emission STEM (VG Microscopes HB603U) which has improved ADF STEM image resolution towards the 1 angstrom target. The instrument uses a cold field-emission gun, generating a 300 kV beam of up to 1 μA from an 11-stage accelerator. The beam is focussed on to the specimen by two condensers and a condenser-objective lens with a spherical aberration coefficient of 1.0 mm.

Treating Velopharyngeal Inadequacy Using Bilateral Buccal Flap Revision Palatoplasty

2019 ◽  
Vol 4 (5) ◽  
pp. 878-892
Author(s):  
Joseph A. Napoli ◽  
Linda D. Vallino
Keyword(s):  
Systematic Review ◽  
Obstructive Sleep Apnea ◽  
Sleep Apnea ◽  
Cleft Lip ◽  
Cleft Lip And Palate ◽  
A Priori ◽  
Sufficient Evidence ◽  
Obstructive Sleep ◽  
Before And After ◽  
Buccal Flap

Purpose The 2 most commonly used operations to treat velopharyngeal inadequacy (VPI) are superiorly based pharyngeal flap and sphincter pharyngoplasty, both of which may result in hyponasal speech and airway obstruction. The purpose of this article is to (a) describe the bilateral buccal flap revision palatoplasty (BBFRP) as an alternative technique to manage VPI while minimizing these risks and (b) conduct a systematic review of the evidence of BBFRP on speech and other clinical outcomes. A report comparing the speech of a child with hypernasality before and after BBFRP is presented. Method A review of databases was conducted for studies of buccal flaps to treat VPI. Using the principles of a systematic review, the articles were read, and data were abstracted for study characteristics that were developed a priori. With respect to the case report, speech and instrumental data from a child with repaired cleft lip and palate and hypernasal speech were collected and analyzed before and after surgery. Results Eight articles were included in the analysis. The results were positive, and the evidence is in favor of BBFRP in improving velopharyngeal function, while minimizing the risk of hyponasal speech and obstructive sleep apnea. Before surgery, the child's speech was characterized by moderate hypernasality, and after surgery, it was judged to be within normal limits. Conclusion Based on clinical experience and results from the systematic review, there is sufficient evidence that the buccal flap is effective in improving resonance and minimizing obstructive sleep apnea. We recommend BBFRP as another approach in selected patients to manage VPI. Supplemental Material https://doi.org/10.23641/asha.9919352

Project MATCH secondary a priori hypotheses

Addiction ◽  
1997 ◽  
Vol 92 (12) ◽  
pp. 1671-1698 ◽  
Author(s):  
Project Match Research Group
Keyword(s):  
A Priori ◽  
Project Match

Vergleich einer Papier-Bleistift- und einer computergestützten Version des Leistungsprüfsystems (LPS)

Diagnostica ◽  
2002 ◽  
Vol 48 (3) ◽  
pp. 115-120 ◽  
Author(s):  
Stefan Troche ◽  
Beatrice Rammstedt ◽  
Thomas Rammsayer
Keyword(s):  
A Priori

Zusammenfassung. Der zunehmende Einsatz computergestützter diagnostischer Verfahren führt zwangsläufig zur Frage nach der Äquivalenz zwischen konventionellen Papier-Bleistift-Versionen und entsprechenden Computertranspositionen. Zur Überprüfung der Äquivalenz zwischen der computergestützten Version des Leistungsprüfsystems (LPS) im Hogrefe Testsystem und der Papier-Bleistift-Version wurden 131 Versuchspersonen mit beiden Verfahren getestet. Heterogene Ergebnisse zwischen der Papier-Bleistift- und der Computerversion belegen, dass nicht a priori von der Äquivalenz beider Versionen ausgegangen werden kann, und weisen nachdrücklich auf die Notwendigkeit systematischer Äquivalenzprüfungen hin. Eine an Hand einer zweiten Stichprobe von 40 Testpersonen durchgeführte Überprüfung der Retest-Reliabilität der computergestützten Version des LPS ergab für ein Retest-Intervall von zwei Wochen Reliabilitätskoeffizienten zwischen rtt = 0.55 und rtt = 0.94. In der Diskussion werden mögliche Gründe für die Nicht-Äquivalenz der beiden LPS-Versionen identifiziert.

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