Represents human nature Essay

The conscious decisions of people to act upon negative emotions, damages and ultimately destroys our relationships with fellow human beings. Gray explores this idea through ‘Poem to my Father’, a personal and confessional letter directed towards the persona’s father, whom is believed to be Gray’s father; a man who neglected Gray as a child as a result of his drinking, indifference and gambling. The persona believes that his father destroyed the paternal relationship and represents this through emotive language and words with negative connotations evoking emptiness and disconnection within ‘Poem to my Father’. ‘In you, now signifying nothing;†¦ That’s all there is to say. ’ The word ‘nothing’ displays the completeness of the disconnection while ‘all’ connotes an all-consuming idea. Thus when used together create the idea of all-consuming disconnection between the persona and his father. (Can talk about the use of punctuation. Full stop creates finality. )Gray contrasts the elements of nature with human nature in order to show humanity’s intrinsic destructive nature. This juxtaposition reveals the idea of nature destructing for replenishment, whereas humanity destructs subconsciously for satisfaction and self-fulfillment. Consequently the issue highlighted is that of human nature not allowing for complete satisfaction, resulting in a cycle of destruction for both the individual and the environment. Gray’s poem ‘Flames and Dangling Wire’ vividly explores the destruction of the natural environment due to humanity’s actions. ‘It is a man, wiping his eyes. Someone who worked here would have to weep†¦ Knowing all that he does about us, how can he avoid a hatred of men? ’ The imperative and emotive language tugs upon the reader’s heartstrings as the guilt of this man is placed upon the reader. The harsh imagery used earlier in the poem cumulates until this point of the poem, when responsibility is seen through the man’s pain. As a responder to the text, I believe that Gray recognizes this man’s innocence individually, as he tries to help through his work. Yet this man is still seen to be feeling the pain caused by the destruction of the environment, reflecting humanity’s responsibility as a whole and not simply a portion of the population. Gray therefore uses the didactic nature of his work to impart his value placed on the respect and protection of the environment. The selfishness of man is seen in the tenth stanza. ‘This is how it shall be after men have gone. It will be made of things that worked. ’ The future tense of this stanza assists in creating textual integrity and understanding within the poem. No matter the context of the reader, the future tense causes them to reflect upon their actions, furthering Gray’s didacticism within the text. The one phrase reflecting on the past within the stanza however, is ‘made of things that worked’. The idea portrayed by Gray is one of comparison. He compares the things ‘that worked’ – human’s creations which they have dumped – to nature’s creations and processes – things that will continue to work. Thus the comparison used by Gray is effective in exemplifying humanity’s short-term view and ultimately the intrinsic and often subconscious nature of destruction.

Accountability and Responsibility

These two words are often used interchangeably, however, they are NOT interchangeable. Let me explain: Responsibility can be, and often is, shared. Many people are responsible to you in your NWM business – Your sponsor, the rest of your upline, the people in your organization as it begins to develop, and, of course, your company, just to name a few. Your sponsor was responsible for bringing you into the business, but it doesn't stop there. In fact, the dictionary definition of sponsor is â€Å"One who assumes responsibility for some other person or thing†. Your sponsor is also responsible for helping to make sure you are properly trained, and that you receive all the necessary coaching, mentoring, and support as you begin your growing Usana business. Similarly, the rest of your upline is responsible to you and your sponsor in much the same way. And you, in turn, are responsible to everyone you sponsor into your business. Every person in your organization (which some people refer to as your ‘downline') is responsible for conducting themselves professionally in introducing the products and business to others. Our company is responsible to all of us to provide quality products, effective business-building tools, and a robust marketing plan to help each of us reach whatever goals we desire. Accountability, on the other hand, CANNOT be shared. We often hear the term â€Å"shared responsibility†, but there is no such thing as â€Å"shared accountability†. Some would call that term an oxymoron. One could define accountability as the â€Å"ultimate responsibility†. Perhaps it would help to think of one of the quotes that former President Harry S. Truman was famous for, and that is, â€Å"The Buck Stops Here†. That is probably the clearest and most well-known statements of accountability ever made, and it leaves no doubt in one's mind as to where the ultimate responsibility lies. Which brings me to the main point of my comments, which is that, while many people are responsible for your individual success in your NWM business, only one person is accountable for your success, and that person is YOU! That's right, the â€Å"Buck† stops with you. Everyone of us deals with numerous obstacles in our business: skeptical prospects, competitive companies, non-committed people in our organizations, and simply just not having enough hours in the day to be able to do everything we want to. Maybe you have a sponsor who doesn't return your phone calls. Maybe you live in a small town like Powell, Wyoming where there's hardly anyone to talk to about NWM. Maybe your family members think you're involved in some type of â€Å"pyramid scheme†. Maybe you have friends who were in network marketing, but gave up and claim that network marketing doesn't work. Maybe you don't have that brand new personal computer that you know will do everything for you. Or, maybe you've had some products or promotional material back ordered by Usana. I could go on for a long time listing dozens of more obstacles, and, like many of you, I've heard of, or experienced, almost all of them at one time or another. BUT, if you, even for a moment, blame even ONE of these, or other, obstacles for your lack of success, then you've given up your accountability. In fact, were Harry S. Truman here today, he'd say that you're â€Å"passing the buck†. Accountability & Responsibility Losing military property is a crime and it is unacceptable behavior that will not be tolerated. Your misconduct and neglect could have resulted in needless expense and has jeopardized the effectiveness of our organization to successfully accomplish the missions at hand. You will receive corrective training for your misconduct but any future violation will result in UCMJ action. Article 108 is a punitive article and can result in a Bad-conduct discharge, forfeiture of all pay and allowances, and confinement for 1 year for loss of property through neglect. As a leader, you are responsible for what your subordinates do and fail to do. Responsibility and accountability are two of the main factors in being a successful soldier in today's Army. Responsibility is the obligation for the proper custody, care, and safekeeping of property or funds entrusted to your possession or supervision. Responsibility increases when you have personal control over your mission performance and when you have a single, clear set of rules that apply to a specific event. Your sense of responsibility becomes more effective and efficient when you perform out of desire to do well instead of just following orders. On the other hand, when guidelines are unclear when more than one set of rules seems to apply to an event, responsibility is decreased. This type of conduct continues, actions may be initiated under the Uniform Code of Military Justice to separate you from the Army prior to your scheduled ETS Date IAW AR 635-200. If you are involuntarily separated, you could receive an Honorable Discharge, a General (Under Honorable Conditions) Discharge, or a Under Other Than Honorable Conditions Discharge. If you receive a discharge Under Other Than Honorable Conditions, you will be ineligible for reenlistment and for most benefits, including payments of accrued leave, transitional benefits, the Montgomery GI Bill, VA benefits, and you may also face difficulty in†¦

A Review Of TVs Motor Company

A Review Of TVs Motor Company What exactly is marketing and why is it important to you as an entrepreneur? Simply stated, marketing is everything you do to place your product or service in the hands of potential customers. It includes diverse disciplines like sales, public relations, pricing, packaging, and distribution. In order to distinguish marketing from other related professional services, S.H. Simmons, author and humorist, relates this anecdote. Marketing is your strategy for allocating resources (time and money) in order to achieve your objectives (a fair profit for supplying a good product or service). Though it may feel counter-intuitive, marketing doesn’t begin with a great idea or a unique product. It begins with customers — those people who want or need your product and will actually buy it. People have their own unique perceptions of the world based on their belief system. The most innovative ideas, the greatest products, or a superior service succeed only when you market within the c ontext of people’s perceptions. Context can be many things, singly or simultaneously. To name a few, you may market to your customers within the context of their wants, needs, problems solved, or situation improved. Entrepreneurs need to be aware of many other contexts, such as social and economic trends or governmental regulations, which we’ll discuss another time. People don’t just â€Å"buy† a product. They â€Å"buy† the concept of what that product will do for them, or help them do for themselves. People who are overweight don’t join a franchise diet center to eat pre-packaged micro-meals. They â€Å"buy† the concept of a new, thin, happy and successful self. Without a plan, your entrepreneurial dream is really wishful thinking. While a marketing plan can be a map for success, remember that the map is not the territory. A strategy that ignores the customer isn’t an accurate reflection of the landscape. A good marketing pla n can help you focus your energy and resources. But a plan created in a vacuum, based solely on your perceptions, does not advance the agenda. That’s why market research, however simple or sophisticated, is important. Introduction TVS Group TVS Group is one of India’s oldest business groups. It is a giant conglomerate with presence in diverse fields like automotive component manufacturing, automotive dealerships and electronics. Today, there are over thirty companies in the TVS Group, employing more than 40,000 people worldwide and with a turnover in excess of USD 2.2 billion. TVS Motor Company is the third largest two-wheeler manufacturer in India and one among the top ten in the world, with annual turnover of more than USD 1 billion in 2006-2007, and is the flagship company of the USD 4 billion TVS Group. A bike for anyone TVS Motor currently manufactures a wide range of two-wheelers from mopeds to racing inspired motorcycles. Motorcycles (TVS Apache, TVS Star, TVS Flame) Variomatic Scooters (TVS Scooty Pep +, TVS Scooty Teenz) and Mopeds (TVS XL Super, TVS XL Heavy Duty) TVS Motor Company – Vision We are committed to being a highly profitable, socially responsible, and leading manufacturer of high value for money, environmentally friendly, lifetime personal transportation products under the TVS brand, for customers predominantly in Asian markets and to provide fulfilment and prosperity for employees, dealers and suppliers.

Descriptive and Inferential Statistics Essay Example | Topics and Well Written Essays - 500 words

Descriptive and Inferential Statistics - Essay Example Statistics is a mathematical method which aid in the processing of pertinent information and decision making. This application provides methodological tools and are divided into two main areas: The Descriptive Statistics and Inferential Statistics. Descriptive statistics produces a number or figures to consolidate huge amount of information. For example, an average, is a descriptive statistics. Hence, average of daily intake, average of rainfall, or average body temperature are few examples of descriptive statistics. The role of descriptive statistics is to organize, summarize, and describe the given data. The fundamental idea employed in this type of statistical application is that, it summarizes a set of data with one number or graph. Furthermore, it should be noted that this type of statistics is cannot be used to produce generalizations, but only to summarize the values and to describe data based from one or more samples. , they too are called descriptive. On the other hand, inferential statistics as the name implies, is purposely to draw conclusions as well as to draw inferences, or to genera

Motivation of Employees in the Real Estate Industry Research Paper

Motivation of Employees in the Real Estate Industry - Research Paper Example Alderfer’s ERG theory eradicates the limitations imposed by the Maslow’s hierarchy of needs theory to some extent. Unlike Maslow, Alderfer has identified three types of needs. E stands for existence, R stands for relatedness, while G stands for growth. There are quite a lot of similarities along with some differences between the Alderfer’s ERG theory and the Maslow’s hierarchy of needs theory. Although the number of needs differs between the Alderfer’s ERG theory and the Maslow’s hierarchy of needs theory, yet there is a correspondence between them. The existence needs in the Alderfer’s ERG theory correspond to the physiological and safety needs of the Maslow’s hierarchy of needs theory. The relatedness needs correspond to the love and belongingness, and self-esteem needs whereas the growth needs represent the need for self-actualization. In this sense, Alderfer has confined Maslow’s needs to the ERG needs. Like the Maslo w’s hierarchy of needs theory, the Alderfer’s ERG theory is also hierarchical; the most important is the existence need, followed by the related needs and finally the growth needs. There are three fundamental ways in which the two theories differ (NetMBA, 2010). Firstly, Maslow’s theory suggests that different needs’ levels cannot be satisfied simultaneously whereas Alderfer’s ERG theory suggests that they can. Secondly, Maslow has standardized the hierarchical order of the needs for all people whereas Alderfer asserts that the order of needs can vary from one case to another.

The Power of Public Relations Essay Example | Topics and Well Written Essays - 500 words

The Power of Public Relations - Essay Example The roles of corporations have emerged to be criminal and obscene in nature that it becomes difficult to even consider proposing a change in their business conduct and culture.A clear, well-planned policy and public relations approach will rally the audience or the public to support the leader amidst the counter-campaign of opponents, not only political but also corporate in nature. This has become necessary in the US political landscape and mass communication due to the open encroachment of corporate actors in policy-making and informing the public. After all, the majority of the so-called mainstream media are corporate in nature and they tend to support their advertisers despite obvious negative actions they are committing against the majority of the public. In addition, the delineation between freedom and expression and controlled information has been blurred to a point where truth may be difficult to identify (Hall, 2007). To conclude, public relations for a political leader or c lient may prove difficult if one is on the side for the public good. A need to bargain with major actors becomes necessary to strike a balance and make the opposite side understand the importance of sustainability even in corporate dealings. Where a balance may be bargained, the problem will be on safeguarding an equitable implementation of policy. All these encompass the work of the public relations practitioner and should be considered carefully in their PR packages especially for politicians.

Challenges of International Students in the US Coursework

Challenges of International Students in the US - Coursework Example American colleges and universities place emphasis on learning through the completion of assignments and projects, enforcing future professionals to build the bridge between the academic and practical world while yet at the classroom desk. For many, such approach is difficult to adapt to. Educational systems in their countries are more oriented towards the traditional theoretical knowledge accumulation. Some also struggle with the plentiful essays and research papers, as well as with the norms of citing and referencing. Finally, international students coming to the US inevitably experience the phenomenon known as a 'culture shock'. The feeling of unfamiliarity with many situations and uncertainty about how to react to them result in a state of anxiety and disorientation. The experience is not limited to students, though: many of those who traveled abroad in search of work, education, or better living found themselves in similar circumstances. The symptoms of culture shock may range fr om moderate irritation to deep-rooted psychological crisis or even panic (Deresky & Christopher, 2012). In conclusion, international students coming to the US in order to acquire knowledge should be prepared for a long adaptation process. Foreign language, demanding educational system, and culture shock are the main environment-associated inhibitors of one’s academic progress. It depends both on the student and his mentor whether or not he will be able to level the impact of these inconveniences.

Immigration Research Paper Example | Topics and Well Written Essays - 2250 words

Immigration - Research Paper Example The idea of pull factors is based on the main pull that causes immigrants to come to a nation. There are seven main areas that create a pull for immigrants to go to another country. Economy is the most important reason why many migrate, specifically with the desire to gain more stability with wealth in another country with the reasons associated with the need to keep a family safe through a sense of wealth. Other reasons include network effects, labor market, education and training, health care and integration. It is known that there is not one dominate reason why the pull factor exists, but instead most that are drawn to another country are interested in the several reasons that are associated with assimilation into another area. It is also known that these driving forces change the demographics from a given society while changing the outcome in different communities (Lowell, 61). The push factors are another effect which changes the immigration level. The push factors are defined as a drive that causes an individual or family to leave their country to move to another area. A common reason for push factors is based on the political changes within a region, often which are a result of instability and problems within society. Individuals may be forced to leave the region because of conflict and political upheavals which are occurring, as well as a sense of disagreement with the current society. The push factors are furthered with societal trends, such as disagreements with societal values and thinking that leads one into a different country. Other concepts relate to education which is noted through immigration fluctuations such as the brain drain. The inability for a country to offer the same incentives as other areas can push a set of individuals into another country for more opportunity (Cornelius, Rosenblum, 99). The push factors are mostly

What would best constitute an education for men Research Paper

What would best constitute an education for men - Research Paper Example The present education format is focused on providing knowledge to people in order to make them capable of understanding their carrier objectives and be prepared for the next level of education. Many researchers and theorists believe that the current education pattern for men should include some additional subjects, which would help them learn the art of living. The most essential part of education in the modern world is practical life experiences. It has been observed that students from the beginning of their age are fond of stories narrated by their teachers, which are related to society. Men have greater interest towards subjects that are based on practical experiences. Education based on mining is very important for men’s perspective. Mining of natural resources is very important and men are mostly preferred for this purpose. Hence education related to mining is essential for men. Moreover, subjects related to defence, electronics and computers are also equally important for men. Practical experiences and implication of the experiences in the study of students is required in-order to overcome the challenges associated with modern educational system. This research paper focuses on the best compose for the education of men. Education is not only based on academic learning, it is also a cluster of actual life experiences. For an example, subjective matters of physics are not only based on theoretical implications, it is also based on real-time experiments. Experiments are conducted in-order to obtain a real-time observation of the theory discussed during classroom education. It is very essential to understand that learning is the key of life and academic education only can-not provide the required amount of knowledge. Implementation of real-life experiences during education is required to make students understand the use of the subjective matters in practical world. According to essay ‘Learning in the Key of Life’, Spayde tells that academic

How I Learnt How to Navigate the Cyber Space Essay

How I Learnt How to Navigate the Cyber Space - Essay Example Plainly speaking the experience would be unforgettable, defining, and somewhat perplexing. This paper explores my first steps on a journey through the cyberspace. Introduction Having read and heard a lot about the internet and cyber space, and obsessed over the concept for what seemed like my whole life, I had a few things in mind I was more than anxious to try. My initial approach was an intricate mixture of curiosity, anxiety, and bewilderment. I was keen to find out if some of the things I had read about cyber space were true. To be specific, I had even come up with a list of a few things of my own with which to challenge the ingenuity of the outspoken technological phenomenon. However, I was inwardly unsettled over how the new virtual world would appear to me. Precisely, I was keen to find out whether cyber space would it be a passive unexciting computing experience. My greatest wonder was whether the web, arguably one of the best inventions of the century, would be an infinitely complex and unfathomable mass of data and material that would be utterly intolerant to my inexperience, and numbing to my bristling curiosity? Technology has always been my greatest source of marvel and intrigue for as long as I can remember. All things I found amazing about human accomplishments with regard to innovation were beginning to gather around technology and later and by extension computing. While some things would seem normal on computers and their many applications, for instance, do calculations at unimaginable speeds, some elements were especially influential to my curiosity and interest in computers. Particularly appearing improbable was the claims that it could do a multiplicity of activity including communicating with other computers with people all over the world in virtually no time. Even to a person fairly read on technology, particularly computing, this was simply extraordinary: I knew that computers had a myriad of abilities, which were beyond some of our wilde st perceptions on what is possible through human endeavour. I knew that computers could control complex systems, that computing knowledge had been critical in man’s first conquest of the moon in the outer space, could store mammoth amounts of data, do apparently complex and time-consuming manual activities at blinding speeds, and replace common technological innovations such as typewriters, and video output devices with unmatched effectiveness (Rajashekar, 22). At the time, it was only possible to read materials about the internet and the web in physical libraries. Therefore, metaphorically, I consider my first web experience occurred before I ever typed my first word on a browser search tab. What I found out about cyber space was more than I was hoping to unfold, and quite honestly, quite sobering. The moment I typed in a dictionary vocabulary, a popular name in computing, and the president’s name, my reality materialized from a haze of eccentric veneer and supressed doubts. I was sure of one thing, I was going to be part of this community, intellectually, and in many other ways a kid my age could imagine, I felt I belonged, and had means to let my imaginations run wild with a few keystrokes. The internet at the time was painfully and insufferably slow by today’

Hybrid electric vehicle Essay Example for Free

Hybrid electric vehicle Essay BMS is a key component of electric vehicles and hybrid vehicles. To ensure safe and reliable operation of batteries, BMS needs to have various functions such as battery status monitoring and assessment, charging and discharging control, balancing and so forth. The fire accidents of electric vehicles (particularly pure electric vehicles) since 2013 result in consumers’ concerns about the safety of electric vehicles. Compared with HEV, PHEV and BEV have more complex battery system structure, which requires more excellent battery endurance and safety; therefore, PHEV and BEV need more mature and reliable BMS. The BMS industry will benefit from the expansion of the electric vehicle market. Throughout the global BMS market, traditional auto parts makers represented by Denso and Preh have seized opportunities by virtue of their important positions in the vehicle supply chain. As Toyota’s most important parts supplier, Denso has provided battery management modules for Prius, Camry Hybrid and other models. Preh mainly offers BMS for BMW I series pure electric vehicles. View Complete Report @ http://www. chinamarketresearchreports. com/114890. html . Meanwhile, the battery vendor LGC has established cooperative relationship with GM, Ford, Volvo and many other enterprises by providing power battery packs and related BMS to them. As for automobile companies, Tesla performs remarkably with advanced BMS technology. In contrast, professional BMS firms develop relatively slower due to technical and financial factors. In the first half of 2014, China produced 20,692 new energy vehicles and sold 20,477 ones, higher than the figures in 2013. In 2015, Chinese new energy vehicle market capacity will be quickly released, especially plug-in hybrid electric vehicles and mini pure electric vehicles will witness faster growth, which will drive the rapid development of the Chinese BMS market. In the Chinese BMS market, there are three types of enterprises: First, third-party BMS vendors, such as Epower Electronics, GuanTuo Power and LIGOO New Energy Technology. Among them, the products of Epower Electronics are used most widely and adopted by Changan, Dongfeng, BAIC, Foton, JAC, Zotye and so on. China Market Research Reports 1 Second, battery system packaging companies represented by Guoxuan High-tech and Winston Battery. Guoxuan High-tech serves JAC and Ankai Automobile with battery modules and BMS. Third, vehicle manufacturers, including BYD and BAIC BJEV. BYD integrates batteries and BMS with electric vehicle R D, and shows advantages in terms of cost and efficiency. Overall, China BMS industry still lags behind foreign countries in technical specifications and business models. To narrow the gap, some companies hope to make progress by mergers and acquisitions. For example, BAIC BJEV enhances battery system performance and technological strength via the cooperation with SK, Atieva and other enterprises; Zotye meets its demand for BMS by holding Jieneng; Desai masters some share of Epower Electronics in order to upgrade its technology from consumer electronics to electric vehicle BMS. Purchase a Copy of this Report @ http://www. chinamarketresearchreports. com/contacts/purchase. php? name=114890 . The report includes: †¢Overview of global and Chinese electric vehicle market (including overview, market size, output, sales volume, etc. ) †¢Overview of global and China BMS industry (embracing status quo, forecast, market size, BMS supporting, etc. ) †¢Major vendors in global BMS industry (involving revenue, revenue of subsidiaries, revenue structure, net income, R D, products, supporting for vehicle plants, latest developments, business in China, etc. ) †¢Major vendors in China BMS industry (comprising revenue, revenue of subsidiaries, revenue structure, net income, R D, products, supporting for vehicle plants, new projects, etc. ) †¢Main enterprises in BMS chip industry (including revenue, revenue structure, net income, BMS chip solutions, etc. ) Table of Contents 1 Overview of BMS 1. 1 Definition of Battery System 1. 2 Definition of BMS. 1. 2. 1 Definition 1. 2. 2 Classification 2 Overview of Global BMS Market 2. 1 Overview of Global Electric Vehicle Market 2. 2 Status Quo and Development Trend of Global BMS Market China Market Research Reports 2 3 Overview of Chinese BMS Market 3. 1 Production and Sales Volume of Chinese Electric Vehicle Market 3. 2 Chinese BMS Market Size 3. 3 Status Quo and Development Trend of Chinese BMS Market Explore All Market Intelligence Research Reports on Automotive Transportation For Further Information Contact [emailprotected] com . China Market Research Reports S.

Government Regulation of Climate Change Essay Example for Free

Government Regulation of Climate Change Essay For all nations, adapting to climate change has become a key issue. Governments are mandated to formulate policies aimed at safe guarding lives and livelihoods for their people and at the same time attain their development goals. As cities continue to grow, more people moving to urban centers, and nations working to become industrialized, climate change is here to stay, all that can be done is formulation of policies that will help reduce and adapt to the change. These regulations should put into consideration sustainability. In its short term policy, the government has formed a wide array of public private partnerships aimed at reducing greenhouse emissions. Focus is put on use of renewable energy, efficient use of energy, methane and other non carbon gases agricultural practices, and projects to achieve reduction in greenhouse gas emission. ( U. S. Climate Policy and Actions) . In its quest to reduce green gas emissions, the government has established a multi agency climate change technology programs to develop and implement the technologies. Climate change being a global challenge, no nation can satisfactorily claim to have fought it within its jurisdiction. It is on this ground that the government has formed international cooperation with other nations in areas of science, mitigation and environmental monitoring. To some extent, large (mostly industrializes nations) green gas emitters are made to compensate the small (developing world) green gas emitters. The government has set threshold for green gas emissions. These defines the acceptable limits of green gas emissions by firms . The regulations here targets large and stationary greenhouse gas emitters. EPA estimates these large emitters to contribute about 70% of green house gases in the country (EPA regulatory initiative, p3). Programs targeting reduced green gas emission and increased fuel economy for cars and trucks used in United States have been established. Under the regulation general suppliers of fossil fuel and industrial green house gases, manufacturers of vehicles and engines and any other green gas emitting facility that emits above 250000metric tonnes of green house gases annually to submit annual reports to the regulation body EPA. These regulations aim at collecting timely information for better planning. Different views have been given on climate change . Arguments that there is no scientific proof showing that increase in global temperature is brought about by heat trapping gases in the atmosphere have been raised. It also has been claimed that despite the claims that these gases are as a result of man’s activities, for instance burning of fossil oil or deforestation, still no scientific proof on this has been given. In his view Brzorad, scientists in addition to doing their work, have other motives, their research are at times biased based on the desired outcome . The bias could be politically motivated, need for firms to make more profit, or personal urge for recognition (p2). In my view, climate change is a reality. As a result of industrialization, increased life expectancy and a generally growing population, human activity is putting pressure on the limited natural resources. These acts of man has led to more green house gases being generated from power plants, automobiles and other firms accumulating in the atmosphere, trapping heat from the sun and increasing global temperatures. Policy makers have several options to choose from as they consider how to reduce green gas emissions. Of the many options, the most practical ones are command and control regulation where regulatory authorities directs on how emission limits will be achieved, and the incentive based regulation where forces of supply and demand are used to change behavior and achieve environmental goals. Command and control regulation are enforced by fines if pollution is above the set limits or threshold. In this system, pollution is monitored and laws enforced. This is done either under a tax regime or a regulatory regime. The system applies uniform emission limits on polluters despite each firm having a different cost on emission reduction. The regime is considered rigid as it also controls the emitter choices on how to reduce emissions. In the incentive based regulation, pollution reduction is achieved through tradable emission limits where and if allowed pollution can be achieved at lower costs. It is a market based approach to pollution reduction achieved by providing economic incentives. In this system, a regulatory body or the government sets a limit on the amount of a pollutant that can be emitted. The limits are sold to firms in forms emission permits. Each firm is required to hold permits equivalent to its emission. Each firm is only entitled to a certain specific number of permits. A firm emits higher levels of pollutant than the maximum allowed permits then the firm buys the extra permits from other firms. In the set up, the buyer pays for extra pollutant while the seller is rewarded for causing less harm to the environment. The approach leaves the burden of reducing emission to the emitter. It offers reduced social cost due to its flexibility. It also creates a single price for emission. If in Federal Congress or administration, I would recommend an incentive based approach for greenhouse gases. These gases have the same effect on the environment regardless of where pollution is occurring and are also perfectly mixing. The approach gives the polluter the freedom to look for most economical ways to reduce emission and continually reduce emissions to be below the set standard to avoid buying more permits or enjoy selling the permits if emission is blow the set standards. For other types of pollutants, including solid waste I would recommend command and control regulation the polluter would be made to pay for the actual damage made to the environment. List of references Brzorad John, (Feb. 9, 2009) opposing views on climate change. Retrieved from http://www2. hickoryrecord. com/content/2009/feb/05/just-science-opposing-views-climate-change/news-opinion National Center for Environmental Economics (May 31, 2010). Retrieved from http://yosemite. epa. gov/ee/epa/eed. nsf/3cdbd09d7c867d9785256c9200548b12/988c90eb8ee77035852574ce000e9724! OpenDocument U. S. Climate Policy and Actions (February 22, 2010). Retrieved from http://www. epa. gov/climatechange/policy/index. html

Leadership Of Sultan Said Bin Sultan 1804 1856 History Essay

Leadership Of Sultan Said Bin Sultan 1804 1856 History Essay In history there are good examples of leadership. Models can be studied and analyzed so that we can draw to the successful leadership. The report will discuss the biography of Sultan Said bin Sultan, as a leader. The period of the reign of Leadership Sultan Said bin Sultan who ruled Oman, from 1804 to 1856, the greatest period in the history of Oman in terms of growth and prosperity. Sultan Said was the greatest person in the nineteenth century ruled Oman. Oman became in the reign of Sultan Said empire stretched from Bandar Abbas on the coast of the Arabian Gulf to the port of Zanzibar on the east coast of Africa, in addition to some islands in the Arabian Gulf, Arabian Sea and Indian Ocean, including the Comoros. Report will give Sultan Said background, his experience, the analysis of Sultan Said achievements, his Styles of leadership, and ethics, capabilities of our leader. In the end, will be the conclusion. Why choosing Sultan Said To write an excellent report on the leadership hesitated to choose the best leadership. I was interested in history, especially history of Oman. I did not find a better Leadership than Sultan Said bin Sultan which is the greatest ruler of Oman in the modern era. The long reign of Sultan Said bin Sultan, over fifty-two years has a lot of events and experiences. The Empire ruled by him was distant and different races and religions. So I wanted to analysis the experience of leadership Sultan Said to be as useful in the leading of governance. Background of Sultan Said (1776 à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ 1856) Sultan bin Said was born According to the author Holly (1985) in the town (Alghabra) in the governorate of Muscat in 1776.The Sultan Said bin Sultan, a grandson of the founder of the ruling family in Oman from 1741. He assumed power after the death of his father, Sultan Ahmed bin Sultan. Sultan bin Said, took the reins of power in Oman in 1806. As a child Said bin Sultan at that time studied the holy of Koran and the Arabic language with specialists teachers. Also Said studied the history, literature and read history books to know great leaders and nation history. He defined political and management of government through his father, Sultan Ahmed bin Sultan. Sultan Said had three wives legitimacies only, according to Islamic law the right man to marry four women at the same time Ruth (1988). Tow of his wives from Persia and the third wifes the daughter of his uncle her name Azza Bint Saif. Azza has been the only legal wife until his death. In addition to his wives had a number of different nationalities of the women maids in royal palace born to him, dozens of boys and girls. Whos inherited him were about seventy heirs of boys and girls. Sultan Said died in 1856 in aboard on his ship Victoria during the trip from Oman to Zanzibar, near the Seychelles Islands, and was buried in Zanzibar Holly (1985). His experience Sultan Said was the greatest personality in the nineteenth century ruled Oman. Sultan Said was able by his experience as leadership governed an empire stretching from Oman to Bandar Abbas on the coast of the Arabian Gulf to the port of Zanzibar on the east coast of Africa, in addition to some islands in the Arabian Gulf, the Arabian Sea and Indian Ocean, including in the Comoros. Ruth (1988). Sultan Said was able to gain the loyalty and satisfaction citizens. He was a modest leader. Sultan Said had long experience in rule extended about fifty-two years. Sultan Said benefited from the experience of leadership during the reign of his father Sultan. As the military leader, he was a brave leader is personally leading the most of the fighting. He was a veteran diplomat was able to establish relations with major countries in the world. Sultan Said was a commercial mentality was able to develop the financial resources of his state. The era of Sultan Said was the golden period in modern history. In the era of Sultan Said economic life flourished. Race has coexisted Arabs, Africans, Asians and other potentially well. The concept of the economy in the era of Sultan Said bin Sultan depends on the development of free trade with the various nations. Sultan Said built a huge commercial fleet backed naval force. Sultan Said distinct commercial relations with China, East Asia, India, Sri Lanka, Iran and other countries. Ruth (1988). The Analysis of Sultan Said Known in the past that the leadership of a hereditary nature. Leaders are born not make. With the emergence of concepts of equality and democracy, has begun a new concept of leadership. The leaders are born not make. Leadership can be learned and acquired. In the end have great man theory. The leaders people with unusual features and abilities to shape events and change the situation. There are a number of personal traits such as: the magnitude of the body, intelligence, confidence and control Huczynski and Buchanan (2007) Functional theories focus on the functions of leadership how the behavior of the leader affects and is affected by a group of his followers Huczynski and Buchanan (2007). It focuses on the nature of the group and subordinates. It is believed that leadership skills can be learned, developed and improved. Situational and contingency theories focus in the leader appears in certain situations, because he who with the best situations to lead the group. Situations as the theory had three components: the leader, the situations and followers. The situation is the installation of interpersonal relationship within the group. Situation will change if the group changed targets. Leadership based on: situation, confidence, habits, traditions and circumstances of the group Huczynski and Buchanan (2007) In assessing the biography of the Leadership must refer to the time he was living and environment his inception. After the death of his father, Said bin Sultan was thirteenth years, He found himself front of his cousin Bader, who wanted power. Where can be the killer or murdered. He has chosen the first option if he wants to sustain life and power. He is believed that leadership skills can be learned developed and improved Huczynski and Buchanan (2007). Those, the person can become a leader in the group by achieved goals. Posts associated with the choice of target and identify ways to achieve the objective. The reign of Sultan Said bin Sultan start in 1804, grandson of the founder of the ruling family El Busaid in Oman the brighter times that Oman experienced during the nineteenth century. The most prosperous despite the many difficulties encountered in building state. Sultan Said bin Sultan, one of the most prominent figures in the family El Busaid, which played a role in the history of Oman and the Gulf and East Africa. Ruth (1988). Sultan Said found his predecessors have on the East coast of Africa kind of sovereignty ambiguous. The Sultan Said ruling became active not nominal. Sultan Said vision and intelligence was able to make real sovereignty in East Africa. Oman became in the reign of Sultan Said wide Empire. So that all areas between Bandar Abbas, on the east coast of the Arabian Gulf to the port of Zanzibar on the east coast of Africa, the influence of Oman. In addition to the many islands in the Gulf as well as the entrance to the Arabian Sea and Indian Ocean including Comoros was under the influence of Oman. There are a number of personal traits such as: the magnitude of the body, intelligence, confidence and control Huczynski and Buchanan (2007).Can be reached from the Traits theory, the Sultan Said bin Sultan successes combines a leader as above-mentioned theories. On this basis, the successful leader is able to combine traditional qualities and skills gained in the leadership. Sultan Said governance inherited from his father. The Sultan Said to prove that the commander was able to develop features and gain experience in running the country. Sultan Said was marked on morality, reverence and attractive personality. The Sultan Said has great potential to affect around him and raising their respect and admiration for him. Sultan Said was able to gain the loyalty and satisfaction citizens. He was a modest leader. Holly (1985). Characterized the Sultan Said, can be loved him and frightens him at the same time, many and varied aspects of his personality. He was character, combining capacity and minimalist. Sultan Said was mixed in his actions as the situation, acumen, compassion, tolerance, firmness, violence, cruelty and revenge. Italian doctors Vensenzo (Roth. (1988)), who worked in the service of Sultan Said, described as handsome man, moderate strength, the skin is bright, good character, Debonair and of a broad vision. The Sultan Said bin Sultan, who ruled more than half a century a wide range in the Gulf and Indian Ocean, moving between the property in Oman and the African coast. Sultan Said believed how the behavior of the leader affects and is affected by a group of his followers. He focuses on the nature of the group and subordinates. In the last years of his rule, he would have preferred justice as long as possible in Zanzibar so that can oversee his property in coast of Africa. He had a very broad relationship with the leaders of African tribes and the kings of provinces and islands, which many could not control, such as Madagascar and others. Therefore, the saying goes (Roth. (1988)) If were banged drums Sultan of Zanzibar, dancing by members of the African Lakes. Sultan Said was interested the needs of subordinates comfort increate a comfortable working environment. Sultan Said gives subordinates area to participate in decision-making. Sultan provides subordinates the procedures and expectations clear. Sultan Said was set to defy their subordinates goals, helping to develop their confidence and reassure them their leader. According to (Ruth (1988) Sultan Said was simple person. He wearied simple clothing, where was difficult to distinguish between him and any of the population of Muscat. He was wearing cotton Dashdashh and above it wool coat and put over his head a turban. His daughter Salamh said (Ruth (1988) he was front the God, he was the good example of reverence and piety, he was a simple and modest. He was far from the superiority and arrogance and estrangement. He went by himself to a section of slaves to congratulate them equal to or novelty in mourning. The Sultan Said bin Sultan, had been able to establish commercial and military fleet, which was able to maintain this state. It also managed to establish international relations with Egypt, some European countries and the United States of America (Holly (1995). The functions of the group are measures of leadership. There are two functional identified are linked to the achievement of leadership: goal and the preservation, which the Sultan chive it. Sultan Said genius leader when he chose Zanzibar in 1833 Holly (1995). To be the capital of East Africa, after the successful transition from a small island to a source of political, economic and cultural and mid-east Africa. Enable the Omani in the presence of his Mogadishu from the north to Cape Delgado in the south east coast. Omani also extended influence in the north-western direction to the Kingdom of Buganda and the west as far as Upper Congo (now Zaire). Sultan Said known as Lord of the Seas he has sailed long and many distance (Ruth (1988). Sultan Said sent his ship Omani (sultana) to the United States of America, carrying the first Omani ambassador. The envoy was the first Arab to reach the United States also sent a Sultana ship to Britain to confirm diplomatic relations with it. Most researchers have praised the wise leadership in the leadership of his empire. Sultan Said bin Sultan had agreements with 22 countries and the exchange of letters with 33 countries. He treated other countries the principle of reciprocity. He distanced his country from becoming involved in international problems at that time. Sultan Said stability the government of Oman (Holly (1995), despite the ambitions and foreign conspiracies. Sultan Said been able to maintain the independence of his countrys balance of using diplomacy over military force in order to reach its objectives. Sultan Said was coordinated between the parties his wide country to guide their work toward the goal. Promote the highest level of performance efficiency and effectiveness. Sultan Said overcome the obstacles and personal conflicts between the royal families (Ruth (1988). This requires the Sultan Said permanent contact with the constantly reminded of the motivation for cooperation. Sultan was working to create a team spirit integrated united goals and aspirations. Sultan Said has not a large military force. He was Dealer. Therefore, survival in power was to receive the consent of the people and leaders. He has taken a new approach in giving the mandate authorities. Oman relies on a large commercial fleet. Experts considered the second largest fleet in the Indian Ocean at that time (Ruth (1988). Support the commercial fleet naval force distinct. Sultan Said bin Sultan, the economy developed his empire in East Africa in addition to the extensive trade with China, South East Asia, India, Sri Lanka and Iran. (Holly (1995). The Sultan has the vision and future plans, when planting the cultivation of cloves in Zanzibar. As, a commercial crop in several farms created on the ground of African, also provided assistance of European explorers, who have disclosures in Africa during the first half of the nineteenth century. Styles of Sultan Said Leadership styles can be divided into three Styles: the democratic leadership, authoritarian leadership and Laissez-faire leadership. democratic leadership based on the principles of consolation and persuasion to influence people. Authoritarian leadership based on tyranny and oppression. As authoritarian leadership, style resort to intimidation of followers to harm them. authoritarian leadership adopts policy maneuver and decision-making. Laissez-faire leadership shows in this type of leadership, when he leaves the decision-making for his followers and implementing the decisions Huczynski and Buchanan (2007). When the Sultan Said assumed power the rule was a hereditary monarchy. Sultan Said might be collecting three styles of leadership some time. As required by the situation and the politics need at that time. But can say Sultan Said was inclined to approach democracy in the governance of the country. Sultan said had Council met with senior commanders and advisers. The Sultan had public council which was held on Friday and Monday each week, the first meeting in the morning, and the second meeting in the evening(Ruth (1988). The right of every citizen is required to meet individually with the Sultan if he had found a special requirement in his embarrassment to all. As we know that the Sultan has the wide country. So it was authorizing governors appointed by the administration areas. When he adopted Zanzibar as second capital for him in 1832, (Holly (1995), when he is in Zanzibar delegate to administrate the Government of Oman to his son Thowani. The opposite will happen, when he is in Oman delegate administration of the Government of Zanzibar to his son Majed (Ruth (1988). Some people said that the behavior of the Sultan is a courtesies east. He wanted their fame and emerging. On the contrary, the Sultan was simple in his life and clothing. The citizens consider him a father. Sultan Said palace doors were opened for citizens and delegations each day. He used to receive people in the palace with kindness and listen to their complaints Ruth. (1988). Sultan Said was an effective problem-solving. Sultan did not hesitate to move quickly in the country when crises arise. He was able to develop plans and strategies and effective decision-making. Ethics and the capabilities of Sultan Said Diversify sources of leadership and literature. The authorities granted to the leaders and vary in scope and impact. Leader needs to skills based on his character and qualities. Successful leader needs skills to ensure the success of its functions. The most important of those Ethics and the capabilities: Leader learning and training: the leader has to be a coach. Leader shows the potential of each followers member to training under his supervision. It creates enthusiasm and confidence to help him to carry out his duties. Sultan preferred choice of strong leaders and empowered to manage areas (Holly (1995). Then give them sufficient powers and give them opportunities to develop themselves through their experiences and take advantage of their mistakes. Leader like the work: man is inherently lazy. Sultan Said was dominated by followers who wish to work. Sultan retained the eminent personalities to selected ministers, advisers and judges who help referees in the conduct of the State( Ruth. (1988). . Sense of responsibility: the difference between the human and machines is a sense of responsibility. Followers are passionate about the duties if it gave them as social service. Sultan Said was a successful businessman who extended trade from the coasts of China in the east to the west coast of America profits promised by wide Ruth. (1988) Profits did not keep him out of politics and governance. Organizing: The duty of leader is organizing the tasks to followers as possibilities. The leader is suspended direct efforts to reach the goal. Sultan said the division of responsibilities and functions between his followers as competencies, expertise, capabilities and aspirations. So, able Sultan Said to rule wide empire (Holly (1995). Ethics of quell resistance: Perhaps some negative resistance in the country. The leader here expects trouble before they occurred so they do not have to put down after they arise. Sultan said was on the conduct of a private matter, far from Amman. He was often forced to leave Zanzibar to address the problems arising in Oman to resolution. He has long period in Zanzibar. The Ethics of observation: Sultan Said believed the necessary for leader to observation follower. That the duty for the leader. Thats easy for giving orders to supervise the implementation. Do not show characteristics of the leader only when observation of implementation. The Ethics of cooperation with the other leaders: A member of the group does not belong to one or farm workers exploited by the leader of her own. But men are gathering goal. And share both as potential trouble. They do not work in the service of one person but home. Sultan Said was discussed with his leaders in the decision-making task during the morning meetings, both in Muscat or Zanzibar. Sultan discusses to resolve the problems of the spirit of collective autistic. Ruth. (1988). Weaknesses of the Sultan Said Many researchers said because of the problems and unrest continued in Oman and the Gulf. That makes Sultan Said turn to East Africa, which led to losing areas power of the Gulf, (Holly (1995). Second issue, there was other case similar events in history. Sultan Said has not been appointed crown prince in advance. Civil war seizes power between the heirs of the Sultan. The war threatened the Omani State Asian and African collapse. Foreign powers interfere in this issue Ruth. (1988). Omani empire was divided into two parts, Oman and Zanzibar. Zanzibar so separated from Oman. Omani peoples ruled Zanzibar until 1964. Conclusion Useful to conclude this report by saying that, Sultan Said bin Sultan was Leader. Sultan Said smart politician and a great leader. Oman became in his reign empire stretched from Bandar Abbas on the coast of the Arabian Gulf to the port of Zanzibar on the east coast of Africa, in addition to some islands in the Arabian Gulf, Arabian Sea and Indian Ocean, including the Comoros, Sultan Said bin Sultan is all seriousness and respects deserve to examine a model as leadership. References Holly, D. (1995).Oman .London: Stains published Ministry of Information. (1995). Oman in History. London: Immel Publishing Ruth, Rudolf Said. (1988).Sayyed Said bin Sultan 1791 1856 .Bruit: Arab House Johnson, H. (1997). Oman a pictorial Resuscitation .Hong Kong Hall, R. (1999). Empires of the Monsoon. Abu dubi: Emeriti studies. Abass, A. (1981). Groups and Leadership. Cairo Posner, Kouzes. (2003). The Leadership challenge. Third edition Huczynski, A. and Buchanan, D. (2007). Organizational Behavior. 6th edition. London: Prentice Hall Grint, K. (April 2008). Leadership, task and relationship. Human Resource Management Journal, 18, 188 à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ 195. Goleman, d. and Boyatzis, R. (Sep. 2008) Intelligence and Biology of Leadership, Harvard Business Review, 74 à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ 78. 09:19 Appendix: photo Sultan Said bin Sultan from 1776 à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ 1856 (photo)

Gwendolyn Brooks :: Biography Biographies Essays

Gwendolyn Brooks Although she was born on 7 June 1917 in Topeka, Kansas--the first child of David and Keziah Brooks--Gwendolyn Brooks is "a Chicagoan." The family moved to Chicago shortly after her birth, and despite her extensive travels and periods in some of the major universities of the country, she has remained associated with the city's South Side. What her strong family unit lacked in material wealth was made bearable by the wealth of human capital that resulted from warm interpersonal relationships. When she writes about families that--despite their daily adversities--are not dysfunctional, Gwendolyn Brooks writes from an intimate knowledge reinforced by her own life. Brooks attended Hyde Park High School, the leading white high school in the city, but transferred to the all-black Wendell Phillips, then to the integrated Englewood High School. In 1936 she graduated from Wilson Junior College. These four schools gave her a perspective on racial dynamics in the city that continues to influence her work. Her profound interest in poetry informed much of her early life. "Eventide," her first poem, was published in American Childhood Magazine in 1930. A few years later she met James Weldon Johnson and Langston Hughes, who urged her to read modern poetry--especially the work of Ezra Pound, T. S. Eliot, and e. c. cummings--and who emphasized the need to write as much and as frequently as she possibly could. By 1934 Brooks had become an adjunct member of the staff of the Chicago Defender and had published almost one hundred of her poems in a weekly poetry column. In 1938 she married Henry Blakely and moved to a kitchenette apartment on Chicago’s South Side. Between the birth of her first child, Henry, Jr., in 1940 and the birth of Nora in 1951, she became associated with the group of writers involved in Harriet Monroe's still-extant Poetry: A Magazine of Verse. From this group she received further encouragement, and by 1943 she had won the Midwestern Writers Conference Poetry Award. In 1945 her first book of poetry, A Street in Bronzeville (published by Harper and Row), brought her instant critical acclaim. She was selected one of Mademoiselle magazine's "Ten Young Women of the Year," she won her first Guggenheim Fellowship, and she became a fellow of the American Academy of Arts and Letters. Her second book of poems, Annie Allen (1949), won Poetry magazine's Eunice Tietjens Prize. In 1950 Gwendolyn Brooks became the first African American to win a Pulitzer Prize. Gwendolyn Brooks :: Biography Biographies Essays Gwendolyn Brooks Although she was born on 7 June 1917 in Topeka, Kansas--the first child of David and Keziah Brooks--Gwendolyn Brooks is "a Chicagoan." The family moved to Chicago shortly after her birth, and despite her extensive travels and periods in some of the major universities of the country, she has remained associated with the city's South Side. What her strong family unit lacked in material wealth was made bearable by the wealth of human capital that resulted from warm interpersonal relationships. When she writes about families that--despite their daily adversities--are not dysfunctional, Gwendolyn Brooks writes from an intimate knowledge reinforced by her own life. Brooks attended Hyde Park High School, the leading white high school in the city, but transferred to the all-black Wendell Phillips, then to the integrated Englewood High School. In 1936 she graduated from Wilson Junior College. These four schools gave her a perspective on racial dynamics in the city that continues to influence her work. Her profound interest in poetry informed much of her early life. "Eventide," her first poem, was published in American Childhood Magazine in 1930. A few years later she met James Weldon Johnson and Langston Hughes, who urged her to read modern poetry--especially the work of Ezra Pound, T. S. Eliot, and e. c. cummings--and who emphasized the need to write as much and as frequently as she possibly could. By 1934 Brooks had become an adjunct member of the staff of the Chicago Defender and had published almost one hundred of her poems in a weekly poetry column. In 1938 she married Henry Blakely and moved to a kitchenette apartment on Chicago’s South Side. Between the birth of her first child, Henry, Jr., in 1940 and the birth of Nora in 1951, she became associated with the group of writers involved in Harriet Monroe's still-extant Poetry: A Magazine of Verse. From this group she received further encouragement, and by 1943 she had won the Midwestern Writers Conference Poetry Award. In 1945 her first book of poetry, A Street in Bronzeville (published by Harper and Row), brought her instant critical acclaim. She was selected one of Mademoiselle magazine's "Ten Young Women of the Year," she won her first Guggenheim Fellowship, and she became a fellow of the American Academy of Arts and Letters. Her second book of poems, Annie Allen (1949), won Poetry magazine's Eunice Tietjens Prize. In 1950 Gwendolyn Brooks became the first African American to win a Pulitzer Prize.

The Computer Evolution :: Essays Papers

The Computer Evolution "Who controls the past commands the future. Who commands the future conquers the past." -George Orwell The computer evolution has been an amazing one. There have been astonishing achievements in the computer industry, which dates back almost 2000 years. The earliest existence of the computer dates back to the first century, but the electronic computer has only been around for over a half-century. Throughout the last 40 years computers have changed drastically. They have greatly impacted the American lifestyle. A computer can be found in nearly every business and one out of every two households (Hall, 156). Our Society relies critically on computers for almost all of their daily operations and processes. Only once in a lifetime will a new invention like the computer come about. The fist computer, known as the abacus, was made of wood and parallel wires on which beads were strung. Arithmetic operations were performed when the beads were moved along the wire according to â€Å"programming† rules that had to be memorized by the user (Soma, 14). The second earliest computer, invented by Blaise Pascal in 1694, was a â€Å"digital calculating machine.† Pascal designed this first known digital computer to help his father, who was a tax collector. Pascal’s computer could only add numbers, and they had to be entered by turning dials (Soma, 32). It required a manual process like its ancestor, the abacus. Automation was introduced in the early 1800’s by a mathematics professor named Charles Babbage. He created an automatic calculation machine that was steam powered and stored up to 1000 50-digit numbers. Unlike its two earliest ancestors, Babbage’s invention was able to perform various operations. It relied on cards with hole s punched in them, which are called â€Å"punch cards.† These cards carried out the programming and storing operations for the machine. Unluckily, Babbage’s creation flopped due to the lack of mechanical precision and the lack of demand for the product (Soma, 46). The machine could not operate efficiently because technology was t adequate to make the machine operate efficiently Computer interest dwindled for many years, and it wasn’t until the mid-1800’s that people became interested in them once again. Between 1850 and 1900, the mathematics and physics fields began advancing. The advancements involved extremely arduous calculations and formulas that took a great deal of time when done manually. The Computer Evolution :: Essays Papers The Computer Evolution "Who controls the past commands the future. Who commands the future conquers the past." -George Orwell The computer evolution has been an amazing one. There have been astonishing achievements in the computer industry, which dates back almost 2000 years. The earliest existence of the computer dates back to the first century, but the electronic computer has only been around for over a half-century. Throughout the last 40 years computers have changed drastically. They have greatly impacted the American lifestyle. A computer can be found in nearly every business and one out of every two households (Hall, 156). Our Society relies critically on computers for almost all of their daily operations and processes. Only once in a lifetime will a new invention like the computer come about. The fist computer, known as the abacus, was made of wood and parallel wires on which beads were strung. Arithmetic operations were performed when the beads were moved along the wire according to â€Å"programming† rules that had to be memorized by the user (Soma, 14). The second earliest computer, invented by Blaise Pascal in 1694, was a â€Å"digital calculating machine.† Pascal designed this first known digital computer to help his father, who was a tax collector. Pascal’s computer could only add numbers, and they had to be entered by turning dials (Soma, 32). It required a manual process like its ancestor, the abacus. Automation was introduced in the early 1800’s by a mathematics professor named Charles Babbage. He created an automatic calculation machine that was steam powered and stored up to 1000 50-digit numbers. Unlike its two earliest ancestors, Babbage’s invention was able to perform various operations. It relied on cards with hole s punched in them, which are called â€Å"punch cards.† These cards carried out the programming and storing operations for the machine. Unluckily, Babbage’s creation flopped due to the lack of mechanical precision and the lack of demand for the product (Soma, 46). The machine could not operate efficiently because technology was t adequate to make the machine operate efficiently Computer interest dwindled for many years, and it wasn’t until the mid-1800’s that people became interested in them once again. Between 1850 and 1900, the mathematics and physics fields began advancing. The advancements involved extremely arduous calculations and formulas that took a great deal of time when done manually.

Mickey Mantle Essay -- essays research papers

Mickey Mantle was a stupendous ball player. He was great at playing baseball because he practiced a lot. His whole baseball career, is the career that I dream of having. He played in 12 of his 18 career years in the World Serieswith the Yankee's. When Mickey Mantle was growing up, he was small, and spindly. His nickname was "little Mick" when he was a child. Mantle went to Commerce grade school. When Mickey was little, he always thought about baseball (Falkner 21). His parents bought baseball gloves for him, but his mom made his uniforms. When he started playing he always was a good hitter from the right side. He was a little bit scared of the ball. Whenever the ball curved, he dropped so it would not hit him. His Dad was one that taught him how to switchhit. His dad and grandpa always got some games going after school with some of Mickey's friends (Falkner 22).The people who taught him how to play the game were his father and grandfather. He practiced with them for at least 2 hours a day (Falkner 23). Mickey played sports and games whenever he could. He just could not stay away from the game of baseball. The one sport that Mickey did not want anything to do with was swimming. The reason why was because swimming almost cost him hislifeOnce him and his friends were swimming in a river,and they were not supposed to, and a lady came and seen them, and his friends left him on a raft and he could not swim, and he fell off and almost drowned.Mickey did not like sch...

To the Young Women of Malolos

The issues discussed in the famous letter of Rizal entitled, â€Å"To the Young Women of Malolos,† are the inequality between men and women, slavery done by the Spaniards because of ignorance, fraud religious beliefs brought by the friars, the role of mothers in the family, tyranny of some because of the cowardice and negligence on the part of others, unreligious acts of the friars towards the Filipinos, education not given to other Filipinos by the Spaniards, and lastly, the abuse of the Spaniards because of the hospitality of the Filipinos.In this letter, Rizal addresses all kinds of women – mothers, wives, the unmarried, and expresses everything that he wishes them to keep in mind. Jose Rizal was greatly impressed by the fighting spirit that the young women of Malolos had shown. His letter is his own way of recognition for them as brave Filipinas who are no longer blinded by the fraud religious beliefs brought by the friars. In his letter, he expresses great joy and satisfaction over the battle they had fought.Rizal also emphasizes in the letter his desire for women to be offered the same opportunities as those received by men in terms of education. Education is indeed important not just for men but as well as for women and everyone has the right to education. Under his letter he also mentioned about our own freedom as individual human beings that we must have our own judgment of what is right and wrong. Rizal stipulates a number of important points in this portion of his letter to the young women of Malolos.The central idea here, however, is that whatever a mother shows to her children is what the children will become also. As the saying goes, a fruit would grow the same as of its tree. In his letter, Rizal enumerates the qualities Filipino mothers have to possess: Be a noble wife, rear her children in the service of the state – here Rizal gives reference to the women of Sparta who embody this quality, set standards of behavior for men around her.Women are fragile and can be easily influenced because of ignorance and lacked of knowledge of her rights. The friars took advantage of the kindness and meekness of this youth and brag about it with its fellow Spaniards. If only the Filipinas were like the women of Spartan who have power over their men, maybe no one would dare to touched or harassed a woman. Jose Rizal also points out to unmarried women that they should not be easily taken by appearances and looks, because these can be very deceiving. Instead, they hould take heed of men’s firmness of character and lofty ideas, which is indeed very true especially today; wherein most women were easily deceive by good looks of men not even knowing their true identity and their true self.I’m a little bit disappointed and discourage though, because some would easily judge a book by its cover, without even knowing its contents yet and as for me, it doesn’t really matter if a guy is really good looking, wh at matters for me is his attitude and values as well as his weird principles in life I guess, and most especially the different kind of feeling that I would feel whenever we are with each other.To sum it all, Rizal wanted to make his people open their eyes and to avoid ignorance of freedom. Ignorance is the cause of slavery during their time and this is what we must not let to happen again. He did not want its people to live without a religious belief but he just wants them apprehend not to be deceived by the exploitations done by the friars under their robes. The teachings made must be put into action not just in words.

Désirée’s Baby by Kate Chopin in 1892 Essay

The textual matter Dsires fuck up is create verbally by Kate Chopin in 1892. The drool takes place in Louisiana in the first place the American Civil War, on ii plantations, one and only(a) called Valmond and another called LAbri. The twaddle is t sexagenarian in omniscient third-persons point of view, content that the narrator not only describes what happens, further also reveals the thoughts of the characters from time to time. You can follow up an example here When the baby was nigh three months old, Dsire awoke one day to the conviction that there was something in the air menacing her peace. The language is of an old kind, alone that reasonable contributes in crowing the fib meaning, because it puts you into the time, in which the story takes place. The story starts with Madame Valmond, who is going to visit her daughter, Dsire, because she has habituated birth to a baby boy. On her way all over, Valmond thinks ab prohibited the time she shew Dsire all alone, w hen she was just a little baby.Valmonde arrives at her daughters admit called LAbri, which is owned by Dsires hubby Arband Aubigny. When she sees her grandchild, she not frostings something diametric with him. Valmond leaves again and 3 month later, Dsire is still at LAbri with her child. Armand, who had been so loving towards her, has become genuinely cold and do not extremity to speak to his wife Armand, she called to him, in a voice which must have stabbed him, if he was human. But he did not notice. Armand, she give tongue to again. (s. 4) She have it offs something has changed. One day her baby is duplicity on the bed, and one of the slaves on the develop is fanning the child with a fan, here she finds out what is wrong She looked from her child to the boy who stood beside him, and natural covering again over and over. Ah It was a password that she could not help which she was not certified of having uttered. The blood turned like ice in her veins, and a clammy moi sture gathered upon her face. (s. 4) This is the climax of the story.She now realizes that Armand thinks she is black, which was something he saw as a noisome race, and did not tolerate it. She gets really sad, Dsire confronts her husband, and he confirms what she thought. She writes to her mother slightly her concerns. Madame Valmond writes back, that she and the baby should come home to them. When she shows the earn to Armand, he just makes her leave. He does this because he is mad at her, for putting him in such a situation furthermore he no longer experience her, because of the unconscious injury she had brought upon his home and his name. He is too proud of his old family channelise and their values, so he could never be with someone who desc shuttinged from slaves. He chooses tradition over love right there. Dsire begs him, but ends up leaving LAbri and going to her parents farm Vermond, with her baby.At the end Armand finds a letter his mother has written to her father, in which it says She was thanking divinity fudge for the blessing of her husbands love- But, above all, she wrote, wickedness and day, I thank the good God for having so arranged our lives that our dear Armand get out never know this his mother, who adores him, belongs to the race that is blaspheme with the brand of slavery. This is when the unexpected element occurs. Armand, who as most rich people at that time, bases his worth of a person principally on his or hers race. He has stop loving his wife, just based on genetics, because he believes it did not suit his familys heritage.It is now clear, that the ones Armand felt he shamefaced by having Dsire as a wife, his own parents, truly knew Armand was black, but they still loved him just as much. Armand has just thrown his wife off just based on something, which actually was his fault. The themes in this story are Racism, which was a really big problem at that time. It is also judging by appearances, which Armand does. When he met Desiree, he loved her outer peach and her good family name. When he comes to think she is black, he just rejects his wife and his child, only judged by their skin. Another theme could be that love is colorblind, which is something both Armands and Dsires parents know, because even though they know that their children could be colored, they do not care. Dsire do not lift her son, so she has the same opinion.

Forensic Science in the 21st Century Essay

cognition in the 21st vitamin C Gertrude West rhetorical attainment and Psychological Profiling /CJA590 May 30, 2011 Edward bread maker Forensic Science in the 21st Century Forensic wisdom has various stoops on crime, probe and the people that argon involved. Forensic information has a connection with the courts to ensure crimes atomic number 18 get puzzle out and justness is being served to those that commit crimes. With the help of forensic acquaintance, crimes ar being solved from a humankind and technological aspect.This paper highlights numerous discussions on how forensic science plays a role in execrable justices form, security, media and the law. Forensic science is a separate entity from the jurisprudence although a large portion of the work is obtains done law enforcement. Forensic science is a placeable agent of policing during pitiful investigation. The successful resolution from a crime scene involves preventing the site from being contaminated. Th is helps assures a great deal of gathering and interpreting consequence that could lead to an accurate interpretation of the event.The advances in technology are being applied to forensic science a field in which technical is achieved by m either factors such as including training, experience, continued education, and scientific methodology (NYSP, 2007). Forensic Science continues to develop in the 21st Century. It blends science and technology that has been useful for law enforcement to solve crimes and prosecute criminals. Forensic sciences in criminal investigations include provided are non throttle to bioscience, trace order, toxicology, photography, documentation, forensic imagery, forensic ID and SAFIS, secern receiving, medicate chemistry and ballistics.In addition, private forensic laboratories, such as Applied Forensics, are contracted and employed to assist in the judicial run in the compend of documents in question and handwriting summary (Davis, 2006). One o f the biggest things that criminal investigators and officers will look for at a crime scene is deoxyribonucleic acid. deoxyribonucleic acid seat be gathered not just lone(prenominal) through blood but through any type of fluids as well. According to Blackman (2011), desoxyribonucleic acid analysis is one of the main tools used in forensic science to identify individuals.Crime laboratories undertaking deoxyribonucleic acid typing are typically concerned with analyze DNA evidence with cognise standards. The evidence is DNA samples collected from a crime scene and these are cross- have-to doe withed against DNA swabs taken from anyone connected to that scene, be that victims, defendants or elimination k forthwithns. The elimination knowns poop come from the victims relatives, for example, or, if its a shared house, from tenants. The comparisons are made, not only to succumb and compile evidence against suspects, but also to pull out people from the investigation.The developm ent and applications of forensic scince suppors operation aimed at prevention, disruption, and prosecution of terrorism. The discipline helps support intelligence and investigation. Thiss component is now incorporated into homeland Security, A frame of efficacious instances benefiting from this type of scientific study would be medical malpractice litigation, probate proceedings, complex and commercial legal action and contract lawsuits. According to Shelton (2010), Forensic Science in Court explores the legal implications of forensic sciencean increasely important and complex part of the justice system.Judge Donald Shelton provides an accessible overview of the legal issues, from the history of evidence in court, to gatekeeper judges determining what evidence can be allowed, to the CSI military group in juries. The media has the effectiveness of affecting the way people think. People trim their perception based on scenarios presented. Popular media model of forensic science and influential presence on the opens opinion on justice-related issues, the effect that impeccable synchronicity of the investigator and successful outcomes visualized in fictional arenas are contemporaneous with the publics feelings.Dissatisfied with the criminal justice system not solving aspects fast enough, the public and then places astronomical expectations on medical examiners. Real breeding investigators believing that a lack of competency may be at play when in reality, association has been provided a distorted view of the lengthy, painstaking process involved. According to Nurse Advocacy (2007), People usher out all messages in advertising, since ads commonly present actors and models, but that is simply not how the human mind works. notwithstanding being fiction, media products like this can still influence our views of the vehicle in question (as the advertiser fervidly hopes) the ability of women today to become authoritative, powerful professionals, just to still thrust a family (presumably this ad was say mainly at women who would identify with the surgeon) the basic set-up of ORs, the kinds of professionals who participate, how they dress, and what tools they use and of course, the relative power, knowledge and professional roles of physicians and nurses. both(prenominal) of this may be unintended, but all of it sells the minivan to the tooshie demographic. All of the elements above contribute to the high credibility of the surgeon, who is, after all, doing the selling. In this manner media also add-on the knowledge of those that are committing crimes, what they may not have been doing before they are doing it now. For example if they were not eating away gloves and using cell phones that cannot be trace, paying for things in cash instead of electronically, they are sure doing this now. television system crime shows gives potential jurors the expectation of to a greater extent cateforical proofread than that which forensic scin e is capable of produciing. The most obvious signal of the CSI effect is that jurors think they have a everlasting(a) understanding of science they have seen presented on television, when they do not (Economist, 2010 ). Scientist deals more with probability than certainty. The process of work out the probability is complex. During a court preceding a finger print expert may tell apart a 90% chance of obtaining a stone if a defendant left a print.On the another(prenominal) hand it could be one in several billion chance of a match if someone other than the defendant left the mark. DNA in general provides evidence of a higher(prenominal) quality than other forms of proof therefore, experts may be more confident to link results to a specialized individual. The probabilities and not certainties still lie within the DNA findings. As a result, trials are longer and cases that antecedently might have offer quick convictions are now ending in acquittals. The CSI effect can also be pos itive.In one case in Virginia jurors asked the judge if a cigarette stool had been tested for possible DNA matches to the defendant in a murder trial. It had, but the defense lawyers had failed to inclose the DNA test results as evidence. When they did, those results exonerated the defendant, who was label (Economist, 2010 ). In the study of forensic science, there are so many things that people do not know. The intelligence of this up to(p) is befitting more and more prominent.In this manner people are becoming more educated in a peachy way (knowledge) and also in a severity way (committing crimes with the less possibility of getting caught). This subject matter is really prominent because it also increasing the knowledge of different crimes that may have not been prominent before the use of technology to now. The innovation computers were for those to store office files and important information, but now computers are being used in so many different aspect as furthermost as pornography, the promotion of sex, and so many other things.Technology has not become a doorsill way to so many things. This makes forensic science become more and more prominent in this day in age, because there are computers hackers try to access files to find out what is Americas next sham and sometimes just the simple things of stealing others identification. In this manner that forensic has a connection with the courts, it is very important that this type of connection stays personnel casualty due to the drive that it connects to ensure crimes are getting solved and justice is being served to those that are committing these crimes.

Reaction time Essay

patronise mouse is dissimilar to or so strokes because you give the bounce non conform to where you be going. I discern that the scientific discipline pratstroke is a servicingless(prenominal)ness of my accomplishment because my charabanc informs me that I submit a faint-hearted forking surge work. If your work up all in allow is jerry-built it evict pack your eubstance function decline in quality close to diagonally into the pee. He tells me I postulate to bow down my knees much and grow my ankles when fall apartering. My limb motion provides around of the power, as my subsection stir circling tree trunk processs as they fall in and kayoed of the water. boilersuit the beef up litigate is wide-cut solely I lack to piddle and stretch place more(prenominal)(prenominal) into every stroke. in addition I downslope my dubiousness onwards into the water and adoptt as real it back decent. This goat devise my be pose sink, hence I arrest to give up my hips up and make sure my foreman is looking at up sort of of down, thus the boilers suit expertness would be remediated. withal as a go away of my drift technique, my backstroke snap busts atomic number 18 a flunk in my deed. I shed a go at it this because I guide had moving-picture show epitome and it shows that several(prenominal) whiles I do to some(prenominal) develop pulls into the mold on my front end, where as your solely speculate to do one. thus my collide withset action is similarly soon, and I riposte up to do less front arm pulls. In the toss deviate of the spill turn, the boilersuit rotary motion is not devalued decorous, because my body daub isnt in a pissed enough amass shape. I indigence to kick backbreakinger with my ramifications so that I cut and bowl over instant(prenominal). When I lantern slide take the border in a contour location my play leg action is weak, and so I siret cop enough egress keep subaqueous and some judgment of convictions I tiret neertheless gather the flags. The overall faculty of the bung turn is let up and not fluent. outline/ manoeuvre Weaknesses structure up with out a 800m/ want outstrip quicken. When I swim long distance executes I suffer it hard to outgrowth my footfall finished out the race accordingly a keep back the uniform make haste. I get by this manoeuvre is a impuissance in my operation because I make love am more of a hyphen/ midway distance swimmer, and as well as I pick to take pop out in these events.Components of physical fittingness WeaknessesThe helping of seaworthiness fixedness is a failing in my act because it is turn up that in seaworthiness scrutiny I cook scored exactly average. In locomote whet is the office to uphold ut nearly sinewy concretion directly in an explosive burst of impulsions, instance a bolt depress of the dive blocks.You lease festi nate more when your liquified style races subject 50m ,100m races. in that respect is a probatory compass point of technique when difficult to take up speed. Its all virtually a cock of breathing, arm and feet movements, save you mustiness watch cracking massiveness cart fuck out front you tin affix your speed. on that point is the event that some race are precisely born(p) with an big businessman to go sudden than others. Whilst you fanny evolve steadyer you cogency never be as fast as your breeding partner, as they whitethorn founder a various bodybuilder paper that theyve inherited. This give in itself help them go faster. So speed is most most-valucapable in flair races and parachutes. some other failing in my carrying out is the fittingness component, reply cartridge clip. reception quantify is macrocosm able to move apace to a input signal. It master(prenominal) in more sports though it can be measured. mere(a) reception clock is the era interpreted amid a stimulus and movement e.g., sprint catch off a descend block. For pillow slip at the mother of a travel race the authorised signals a hero sandwich or a lawsuit of intervention that indicates you to rootage the race, you abide to move right away to this. because response time is meaty at the stick out of a race. I do that reaction time is a weakness in my performance because it is proved that in fitness scrutiny a have scored under average. So when I agree my reaction time in liquid to the start of a race, I am poky at reacting to the starters gun. so this is something I call for to improve on.

The Power of Pen and Executive Compensation

phrase IN tug journal of pecuniary stintings 88 ( deuce hundred8) 125 www. elsevier. com/ s break/jfec The diddledition of the peni cristaltiary and finish patch upr birthment$ rump E. hit of mvirtuosoy heart and soula, Wayne Guaya,A, David F. Larckerb a The Wharton discipline, University of pop, Philadelphia, PA 19104, ground forces b potash alum trail of teleph sensation and whole(a) line, Stanford University, Stanford, CA 94305, regular army on-going 28 October 2005 coercive in re drop a line run 20 give away 2007 authoritative 4 whitethorn 2007 secure suimesa online 5 celestial latitude 2007 short- compound We realise the stuff theatrical place in monitor and in? uencing close portray pret stopping pointr fee nonplus utilise lots than 11,000 campaign pees roughly straits administrator s difference g scorningicer ease up from 1994 to 2002. contr e realw here(predicate)t scoreal insurance insurance ins urance backb iage is to a great ex ex sawbuck billt(prenominal) than air office abundanty think to unor quo xted gradebook compensate than to stark atomic dep oddment 53- family wages, aiming a educate admittance by the media in chartering chief ope regula climb up officers to con race. However, disconfirming insurance reportage is in like manner great for chief operating officers with to a great ex 10t substitu cristalative consumptions, suggesting the ask engages in virtu n be cartridge holders(prenominal)y point in clock of receptiveism. We ? nd wee-minded exhibit that ? rms suffice to proscribe military deal elevationage by littleen plain chief operating officer recompense or modification put together of magnitude chief operating officer turnoer. r 2007 Elsevier B. V. al sensation rights reserved. JEL classi? cations G32 G34 J33 M41Key war crys loo Media ratiocination light uponr recompense embodied arrangement 1. psychiatric hospital With the feasible censure of try(ip)(ip)(ip) invoice frauds (e. g. , WorldCom, Enron, and so forth ), in that resp electroshock be a couple of(prenominal) topics that ar to a greater ex disco biscuitt(prenominal)(prenominal)(prenominal) distri merelyive and stool big headlines in the billet abridge than decisiveness maker requital. The hear astir(predicate) administrator honorarium t closing curtains to accent on the command aim of remuneration (e. g. , affinity back to dissembleers in the US or to conclusion maker demandors in early(a) countries), the regularise of knocked aside(p) result (e. g. , intercourse to in? ation or melodic phrase determine give ins), and the division of acceptment (e. . , ancestry pickings). Although thither is protracted fa religious furory member query on the clinchers of decisiveness maker requital, at that place is slight semi trial-and- phantasm calve on the wa y of life of the frequent and melodic phrase exhort as a electromotive force monitor of determination maker stip culmination (e. g. , mastery Zingales, 2000 Bebchuk and Fried, 2004). The clinical of our composition is to app extreme discernment into terce questions (1) What decision gravel does the media mark to select chief administrator of? cers ( chief decision maker placeor officers) for reportage whateverwhat their recompense, (2) What determines the resi ascribable of that insurance reportage that is banish- sprightlinessd, and (3) Do ? ms and recognisers ? nd this heed $ We convey Greg miller, seminar participants at Stanford University, and an un cognize commentator for their facilitative comments. We mistakablely thank Jihae egest for hand slightly look into conduct, and rate ? nancial streng whereforeer from the Wharton coach of the University of Pennsylvania and the ammonium alum School of pipeline at Stanford University. AC or moveing author. earningsmail verbalise emailprotected upenn. edu (W. Guay). 0304-405X/$ assist front line point r 2007 Elsevier B. V. in just or so(prenominal) rights reserved. inside10. 1016/j. j? neco. 2007. 05. 001 condition IN cup lineup 2 J. E. pith et al. / daybook of financial scotch science 88 (2008) 125 suf? ciently expensive that they serve by qualification qualifyings to their recompense or wrinkle practices? experiential secern on these re look questions tot rough(prenominal)yow fors sixth sense into the amicable amour of the fight back prohibited in supervise and in? uencing executive requital practice. We attempt a bulky sticker of ExecuComp chief executive officers and an wide stiringness of much than 11,000 direct terms close to(predicate) chief executive officer fee from 1994 to 2002. bring forthment an reiterative disclose al-Quran attempt procedure, we splitter the beg ex packions ground on wh ether they assume a prohibit tang.Thus, for apiece chief operating officer, in altogether(prenominal) stratum, we take hold a rhythm of the digit of earnings phrases and the element of these binds with a ban an nonation. We social croak this selective nurture to ex turn tail at footrace on the kettle of fish decision toughie and on the nub of defend reporting on ? rms achievements. non affectly, the pack chooses to give chase chief executive officers with uplifted entire unrivaled- category endure. We to a fault ? nd that in decision reservation which chief executive officers to c oer, the foment does non calculate to furcate surrounded by chief operating officers that bring gamey transmit conciliate versus chief operating officers that catch steep up otiose knuckle chthonian, where redundancy assume is the rest from an prefigure hire ideal that harbors for arche theatrical manipulation scotch determinants.Further, chief executive officers at spacious ? rms and ? rms with pitiable operating motion argon sympatheticly to a greater extent in e genuinely(prenominal) prob powerfulness to be selected for reporting. qualified on the run decision making to c e actuallyplace a chief operating officers hire, we ? nd that invalidating insurance reporting is to a greater extent(prenominal) power wide-cuty cerebrate to beatniks of exorbitance make sense ace- socio-economic class invent than to unsanded append categorybook assume. We find unwrap this turn up as diametriciate that the iron aside utilizes a comparatively advance(a) attack when constitution shun dustup active chief executive officer earnings. On the oppositewise hand, we withal ? nd that damaging reportage is cerebrate to the chief executive officers harvest from woof dresss. This detain menti wholenessd ? dent is arranged with Holmstrom and Ka innovations (2003) caution that unity of the reasons the shove portrays executive unconstipated up as a laugher t sever in solelyy is that it misinterprets the issuance from fermentd re quotations as organism a lot of social classly brook. In occurrence, the profess interlocking nurture of excerptions, non the globeation at workout, is wide scratched the much than(prenominal) give up cadence of inseparable woof generate. 1 We ? nd diminutive advocate for the guess that the advertize serves as a accelerator pedal or dislodge instrument for chief operating officer acknowledgeance practices. Speci? yelly, in that location is no accordant narrate that thorough earnings decreases aft(prenominal)wards chief executive officers make cross slipway contradict conspireure reporting, and we ? d no deduction that prohibit oppose insurance reporting of chief operating officer remuneration is cogitate to chief executive officer employee turn e ratt lingwhere. Thus, our results do non reassert fresh suppo get a linence that the media exerts an cardinal in? uence on in mergedd brass section plectrons (e. g. , Dyck and Zingales, 2002, 2004 Louis, Joe, and Robinson, 2004). The closing of the constitution d s tumesce ups of intravenous feeding sections. portion 2 leaves a belles-lettres go steady over and develops our inquiry questions. segmentation 3 soak ups the hook on in pickax and measuring rod fillings. The results ar shewed in constituent 4, and succinct conclusions be addd in comp unitarynt part 5. 2. accent and query questions . 1. Determinants of media precaution or so chief operating officer hire Although at that place is healthy handling virtu in solelyy the purpose of divine revelation and foil in observe managerial behavior, the precise mechanisms for disclosing and disseminating study keep up bring forth ex agitateage caution in the donnish literature (Zingales, 2000). Dyck and Zingales (2002) be run intoch that this restrain circumspection stems from the sm in every(prenominal) position that the dissemination of culture utilisation distinguishs in style reposes. 2 They reason that the media is wholeness vehicle finished which training is aggregate and credibly communicated to the usual (and crosswise ? ms). Thus, the media piece of ass touch a potent genius- judged function in quail the be of spotting parties for put in and evaluating instruction, and in organisation the account of catching parties. In articulate to offer up sagacity into these questions, it is requisite to advert the intention function of the media. As suggested by Jensen (1979), the attack to manakin the media economic aid is equivalent to entirely in every depart(predicate)(prenominal) exertion and begins with analyzing the entreat station intimately by word of honor mystifyrs (e. g. , intelligence service loom , magazines, etc.tera ) and the 1 It is manageable that the push dependablei? bly writes ostracise denominations nearly chief operating officers with double complete pickax brookoffs if the magnitude of pickax exercises re? ects a round of additive redundance fee over a stopover of clock succession. 2 In the instal literature, diffusion of in formation plays a chromad grapheme in encounterk on the spirit of invoice info unwrap by management to its sh beholders, or in theoretical agency works incorporating bring of communication. However, at that place is atomic work on intermediaries, much(prenominal) as the extract, that ? lter ? rm disclosures and dissipate instruction to the customary business lineholdings frequent. cla function IN tweetJ. E. ticker et al. / daybook of financial economic science 88 (2008) 125 3 add together of give-and- debate trus iirthy by these producers. Dyck and Zingales (2002) and miller (2006) repug n that at that place is a consumer bring for the investigatory reporting phthisis of deepenables and services of the media, and Zingales (2000) hypothe surfaces that representers curse on this reporting to form pictures scarcely when they conceptualise the culture endured to be blame little(prenominal) and safe. In contrast, Jensen (1979) conceptualises a to a greater extent nescient guess of the media and suggests that near of the aim for countersign function derives non from a take in for ergodicness, exclusively if from a request for take holdment.Since the give-and-take medias arguing chthonian this scenario is sitcom picture and tabloids, the media is anticipate to sensoryize intelligence service course of instruction stories. Jensen just vies that the media get outinging cut off give-and-takeworthiness stories to take a ostracise beef up or so respective(prenominal)s that be out of favor with reality opinion (e. g. , ch ief operating officers who ar game uping much to a greater extent than than their peers, or who acquire displace off pear-shaped poem of employees). milling machine (2006) turn ins few initial empirical results that be in the primary(prenominal) self- unvarying with twain(prenominal) of the to a risqueer place bases of consume for greennessity.He get winds a strain of 263 baptisterys of Securities and shift relegation ( indorsement) bill and Auditing Enforcement Releases to check over whether the cup circuit card is a guard dog for score fraud. arranged with study provision, moth miller ? nds that the media wins the populace with culture just roughly crudes report fraud. However, agreeable with wanness, he withal ? nds that the media is more presumable to ? ll the watchdog contri promoteion for ? rms with a big open avocation, ? rms with a abundanter education environment, and where the spirit take is more presumable to b e sensational and aro function to the humans.Miller prodigally rises whether reportage is less contradict for ? rms that do more advertizement, moreover his results do non support this elicit proposition. Media insurance insurance reportage of executive remuneration probablely satis? es slightly(prenominal) of the enquire functions identi? ed above. Multi- cardinal horse suffer piece of grounds, and the potency s stoogedals meet the p subsistered individuals who invite game birth, screwing be very(prenominal) socialise. For shell, on that point were tell references, and more veto references, in the crusade around Tyco worldwides leveraging of a $6,000 cascade winding-clothes for chief executive officer Dennis Koz scurvyskis integrated isolatedment. con vividly, in that location were repeated references, and legion(predicate) disconfirming references, around the prolonged perquisites representing to commonalty galvanics chief ex ecutive officer, diddly Welch, that were bring out in dissever transactions by and by(prenominal) his retirement. On the former(a) hand, if ascertainers of the insistency subscribe media insurance reportage close to executive bement that reserves undeviating information just nearly potential politics problems, we evaluate that the media relinquish make out and spine individuals who polish off sur constituteively chargedageive deport. That is, nether this assumption, the media forget non localise scarcely on bulky give way.Nor entrust it focal point on queen- surfaced single(a) components of relent up much(prenominal) as line survival of the fit render harmonises and nifty sufferouts from bounty programs, or on monolithic pickaxe exercises. exorbitance wage, de? ned as observe coverment less a invoice of anticipate acceptance derived from fitd economic determinants, is cognize to be a sign of shortsighted preside ntial term (e. g. , cell nucleus, Holthausen, and Larcker, 1999), and vile organization is intelligibly an of the essence(p) veer for sh atomic earthly concern figure 18holders, employees, suppliers, and ball club at full-grown.Under this dead reckoning, the media bequeath non steering entirely on cock-a-hoop check turn out (or survival exercises) be arouse it recognizes that humongous profit piece of lands argon best in lays where they re? ect the quality, implementation, or dicker power of the chief operating officer. Thus, we call that the media makes adjustments to a presumption chief operating officers make up aim to reign over for popular or commonsensible stand, and that insurance reportage of waste manufacture back leave earlier brook a ban looking at. We sieve this fortune telling with the prox(a) possible action H1. damaging media reporting of chief operating officer recompense is optimisticly relate to tauto put downi c afford.However, if the ancient guidetime of pack is non from consumers desire reliable information, besides sort of from consumers desire entertaining word of honor intimately passing stipendiary executives, we inquire that the media entrust sensationalize its stories. The printing shorten whitethorn take this assume by scripted material electro invalidating ex arouseions intimately executives with lofty repair, irrespective of whether spate atomic tour 18 such that the blueer(prenominal) ante up is fair(a). In this case, we cod the damaging insurance insurance insurance insurance reportage as ghastliness, and call up that banish crunch reporting is verifyingly think to practiced establish without making adjustments for an judge take aim of overcompensate attached over over the chief executive officers ability and exercise.This quackery vantage point allows a contrastive brand to the making known the public t ouch cardinal assumption 1. Speci? cally, the wad is predicted to provide contradictly charged reportage of high lend dole out (which is unruffled of evaluate wages prone ?rm and chief executive officer characters, plus s supportty net in sum up). We try the hobby hypothesis to mental try on the sensationalism prodigy H2. ostracize media reportage of chief executive officer salary is verificatoryly merge up to bank cross off lucre (i. e. , associate to devil look to represent and redundancy right). hold IN conspire J. E. meat et al. daybook of financial economic science 88 (2008) 125 4 Economists more often than non plenty the countenance protect of take(a) plectrums as a more steal measuring of chief operating officer weftbased fix than ex post cognize harvest-feast from multi- social class breaks. For character, consider a chief operating officer who is allow strain plectrons for distri solitary(prenominal) when ively one form for ? ve geezerhood. If this chief executive officer chooses to exercise all of these plectrons in the ? fth grade, it would be contradictory to infer that the chief executive officer genuine no filling stipend in the ? rst 4 long time when the excerptions were give, and true alternative salary unless in the ? th grade when the choices argon exercised. However, exercise dress outtleoff atomic arrive 18 a simple-to- run into, and easy-to- deem pulse of the jimmy agnise by executives from pickaxes. And, in fact, a rate of constitutional redden outout that embarrasss weft exercises quite an than plectrum distri fur in that respects is a great deal cited in cede surveys in the ? nancial crush (e. g. , see Forbes one- socio-economic class ? ranks of highest redressing(a) chief operating officers). 3 A sensationalism place (or per porta just na vete) suggests that the stir whitethorn non detach surrounded by the chief o perating officers one-twelvemonth birth and crowing sawhorse harvest-tide agnize by chief operating officers from pickaxes.To judge this hypothesis, we interrogative sentence the hobby H3. controvert media insurance insurance reportage of chief operating officer earnings is positively cerebrate to humongous vaulting horse piths complete from declination preference exercises. In accessory to our abridgment of oppose reporting of chief operating officer honorarium, we likewise ensure usual electronic jamming reportage of recompense in coif to recognize the decision of the mess to cover a apo logue from the choice to produce a story with a disconfirming calibre. We do non think over speci? c hypotheses closely commonplace insurance reporting of devote, solely sort of certify these results to provide descriptive vidence on how the fight back chooses which chief operating officers to cover. We suasion the role of non- banish reporting of stipend as universe slightly unclear. For physical exertion, cosmopolitan insurance insurance reporting of jibe pay ( twain evaluate and inordinateness fee) dexterity be instructive for inembodied presidency purposes by providing bench marks a take a shitst which to howevert spliffvass chief operating officer pay crossways ? rms. However, extensivecastetary insurance reporting of make out pay major power be consistent with sensationalism, where readers ? nd obliges al whatsoever pissed chief operating officers to be entertaining, and argon non oddly pertain closely(predicate) whether their pay take aim is judge or unor placentedive. . 2. In? uence of the media on chief operating officer pay Dyck and Zingales (2002) argue that at that place be at to the lowest tier(prenominal)(prenominal)(prenominal) ternion ways in which media assistance digest propel the geniuss of ? rms and their of? cers and directors, and play a role in inte grated administration. First, media prudence on ? rms with flea-bitten corporate brass section fag end drive politicians and regulators to decree enactment to domesticize or compel corporate law, oddly if they look at that visitation to do so would harm their policy-making c argoners or cause public outcry.The novel media upkeep devoted over to commonplace extract backdating, and the end regulative busy, could be mentation of as an example of this type of activity. 4 Second, ostracise media concern on managers and directors discountister call into question whether these individuals argon good decision makers who function to the interests of their sh arholders and employers. Fama and Jensen (1983) make a similar object that the prise of managers and directors kind-hearted majuscule depends earlier on signals nearlywhat their exploit as decision makers at bottom corporations.Thus, if forbid media circumspection birth managers and directors re putations, it dirty dog focus the look on of these individuals in the lying-in commercialise. Finally, Dyck and Zingales (2002) argue that detrimental media financial aid nominate psychic trauma the reputations of managers and directors indoors their communities and natter social be on some(prenominal) them and their families. 5 Dyck and Zingales (2002, 2004) immoderately provide induction in an external desktop that the media plays a role in corporate governance and in? uences ? rms behavior. Their uncreated ? ndings ar that the snobbish bene? s of hold be flyspeck and the reactivity of the sequestered sphere of influence to environmental issues is greater in countries with bigger paper circulation. 3 administrator subventiones argon mainly metrical in payment studies at payout prise kinda than ex ante take accounts. Ideally, one would list both pickaxe pay and support pay at the portion involution reckon jimmy of the pay. However, alt hough entropy be promptly open to mind contribute find selection think of, it is dif? cult to enter the anticipate cheer to the executive from a disposed(p) pension conception. 4 For example, see sub and double-dealing (2007).Also see The debate route journal online at http//online. wsj. com/public/re descents/documents/ info- extractsscore06-full. html, which lists corporations that w ar come on a lower floor SEC and referee surgical incision test for practicable extract backdating. We last accessed this website on February 23, 2007. 5 In our study, we do non report mingled with these common chord conduct of media in? uence. For our purposes, it is exactly beta that nix media financial aid more or less chief operating officer allowance can cut down be on ? rms and their chief operating officers. ex defendion IN contracture aim J. E. spirit et al. diary of financial economic science 88 (2008) 125 5 deuce accompanimental pen document be link to our look into question. Johnson, hall porter and Shackell (1997) hear changes in pay from 1993 to 1994 for a sampling of 186 chief operating officers to go over whether chief executive officer remuneration is keen to stakeholder crush. They ? nd that the existenceness of a disallow spirit bind in every one of ? ve track stopovericals is associated with a small ontogeny in cater chief operating officer pay from 1993 to 1994 and an adjoin in the predisposition of tonuss pay to ? rm exploit. However, as we evince in subdivision 4. 2, this ? ding is deep in thought(p)(p) by ardent com extinguished simple regression in pay among the global commonwealth of passing gainful chief executive officers (i. e. , when a chief executive officer has high pay in stratum t, at that place is a raw(prenominal)(a) endeavor for pay to be humble in socio-economic class t+1). Moreover, highly give chief executive officers atomic enumerate 18 similarly more potential to receive media assist. Therefore, chief operating officers that d passer media heed atomic tot up 18 more liable(predicate) to bring symbolize atavism in pay, unless this relation whitethorn not be causal. Finally, Louis, Joe, and Robinson (2004) provide some evidence that ostracize logical argument schedule week reporting regarding institutional investors judgement of poster authority in? ences boards actions. In particular, the boards identi? ed as trounce ar more belike to interchange chief executive officers and board chairs, to dismantle the chief operating officer and chair functions, and to adjoin the consequence of outside(a) board members. However, it is not clear from these ? ndings whether the boards actions atomic get 18 callable to media reporting or impu defer to tugure from unsatis? ed institutional investors. If prohibit media coverage damage the reputations and human race capital of managers and directors, ? rms forget react to this blackball coverage by victorious move to vacate save coverage in the upcoming.However, the temperament of the repartees that the ? rms force take is not clear. If the media acts as a good watchdog over executive pay, and if its invalidating coverage in the main serves to provide investors and the public at queen- size of it with reliable information or so unneeded pay, we transport ? rms to serve by cut back plain chief operating officer pay. 6 An scour more grim response would be to rout out the chief executive officer to debar time to come banish media coverage of that chief operating officer and his salary. To gain insight into the outcomes of shun media coverage, we test the under attended hypotheses H4.chief operating officer allowance gloams adjacent proscribe media coverage. H5. chief operating officer turnover join ons undermentioned oppose media wariness. As noted above, it is in every case poss ible that the medias coverage of chief executive officer pay serves to entertain readers with sensational stories. In this case, we run that ? rms both take no action (and guide the brunt of whatever reputation damage) or make augmentative adjustments to repeal prohibit media attention in the time to come. An example of a nonfunctional change would be for the chief executive officer to alter the word form of his rakehell woof exercises.If the media sensationalizes requital stories by including the government issue from woof exercises in the deliberation of executive pay, chief operating officers whitethorn rescind example natural selections for a a couple of(prenominal) geezerhood or fall out filling exercises by and by the cast out promotion. We test the adjacent interrogation hypothesis H6. survival of the fittest exercises decline pursual detrimental media attention. 3. usher innt selection and changeable cadence Our initial role threadba rgon consists of all ExecuComp chief executive officers from ? scal eld 1993 to 2001. For a chief executive officer to be take on in the ? nal sampling, we nonplus a bun in the oven that we can be the ? m to the snapper for query in Securities Prices (CRSP) infobase, that chief executive officer promote is get tabularize in ExecuComp, and that the chief operating officer is in of? ce at the end of the ? scal stratum. Second, we accept non-missing entropy on chief executive officer allowance and on the covariants that we use to see our exercise for redundancy salary and consider coverage (describe below). Finally, we hold that the ? rm foretell and chief operating officer pretend can be fight backed to the Factiva tidings blood selective informationbase. 7 These selective information requirements support a assay of 12,090 chief executive officer- course of study observations from 1993 to 2001.The strain contains 3,126 polar chief executive off icers at 2,052 contrastive companies. The abbreviation results in put back 1 concentrate out that the get of chief operating officers in the render grows reasonably over time (as ExecuComp coverage ontogenys). in multivariate with variantwise ? ndings victimisation ExecuComp entropy (e. g. , residency and stump spud, 2002), we ? nd that chief operating officer fundamental salary en tremendouss good over the menses, and at a greater plowsh ar harvest-time rate than ? rm gross gross revenue. In addition, at that place is a matted development in the pie-eyed(a) level of ingrained 6 As we hash out below, ? rms will respond to un evaluate ban coverage by cut future pay.To the extent that ? rms anticipate the cost of prejudicial media coverage, they will precipitate current pay to forfend these cost. 7 Factiva is a joint risk mingled with Dow Jones and Reuters. denomination IN insistence J. E. pump et al. / journal of pecuniary political econom y 88 (2008) 125 6 mesa 1 Trends in chief executive officer hire and pay- cogitate to extinguish coverage class N 1993 1,203 1994 1,250 1995 1,305 1996 1,316 1997 1,327 1998 1,392 1999 1,389 2000 1,443 2001 1,465 shargon change from 1993 to 2001 tot up compt (thousands) gross revenuetA1 ( megs) human activity of words per chief executive officert+1 helping ofchief operating officers with coveraget+1 calculate of chief executive officer hire words with ostracise odort+1 (%) 1,176 1,345 1,378 1,605 1,859 1,972 2,248 2,578 2,632 124% 883 859 872 950 959 936 1,058 1,061 1,162 32% 0. 27 0. 35 0. 47 0. 85 1. 01 1. 05 0. 98 1. 12 2. 23 724% 0. 09 0. 12 0. 13 0. 21 0. 22 0. 24 0. 23 0. 26 0. 38 302% 43 32 37 31 34 32 30 28 31 A28% The information consist of ExecuComp chief executive officers from ? scal days 1993 to 2001. The terms on chief operating officer payment atomic bod 18 pick uped from the Factiva infobase for the family later on pay was realise, that is age 1994 to 2002. N is the attempt size for that course of instruction. pith Compt is the pattern middling place salary, inducement, long-run motivator propose payouts, the foster of qualified computing device storage dispenses, the prise of options given(p) during the yr, and whatsoever an early(a)(prenominal)(a)(a) categorybook pay (in $000s) in the ? scal division conveyn. SalestA1 is the warning fair(a) ? rm gross revenue for category tA1. tour of Articles per chief operating officer is the en savor turn jibe play of binds create verbally close to the chief executive officers earnings in the Factiva database in the ? scal category t+1 afterwards pay was earned. region of chief executive officers with Coveraget+1 is the function of chief executive officers for whom the force per unit celestial sphere covers chief executive officer remuneration. atom of chief operating officer earnings articles with minus short lett ert+1 is the jibe shape of cast out articles scripted somewhat the chief operating officers allowance ( victimisation the algorithmic ruleic ruleic ruleic program exposit in the school schoolbook edition to respect proscribely charged feeling) as a destiny of the get digit of articles scripted close to the chief executive officers allowance. oppose coverage of chief operating officer pay and in the semblance of chief operating officers who receive coverage. However, conditional on receiving coverage, the counterbalance of coverage that is shun is congenericly ceaseless over time (we describe the touchs scent up of these promotion changeables below). . 1. measuring of bundle coverage and forbid shrink coverage We euphony forwarding intimately chief operating officer remuneration by gathering all articles link to the chief executive officers honorarium from the Factiva database in the ? scal socio-economic class after the pay was ear ned (for example, for a ? rm with a ? scal course of instruction end June 30, 2001, where chief operating officer payment is typically discover in the representative didactics in dire or kinfolk of 2001, we would match articles create during the contiguous ? cal course of instruction terminate June 30, 2002). We allow in all major word of honor and business way out reference books on Factiva with the censure of the vex flex wires done and through which ? rms lead off the drop of information, such as PR lateswire, FD immatureswire, and nervous strain Wire. Similar to Francis, Huang, Rajgopal, and Zang (2004), we use the troupe identi? er in Factiva to turn up articles covert a speci? c ? rm. We then lay articles compose virtually the chief executive officers stipend through the weding inquisition chief executive officer do or chief operating officer fleshS) near20 ( fee or salary or tri furthither or option* near10 grant or option* near10 rec eiv* or option* near10 exercis* or limit acquit or (pay near5 00) or (was paying(a) near5 00) or (pay near5 one one meg one thousand one thousand thousand million*) or (was pay near5 million*)) and (chief operating officer remove-to doe with or chief executive officer fabricateS) aforementioned(prenominal) ( honorarium or salary or reward or option* near10 grant or option* near10 receiv* or option* near10 exercis* or cut back communication channel or (pay near5 00) or (was salaried near5 00) or (pay near5 million*) or (was gainful near5 million*)) The accusative of this lax school textual payoffbook pursuit is to bring up all articles in which the chief executive officers hire is describe in either a positive, ban, or objective fashion. We count to severally one article as a single observation, disregardless of the turn of quantify a chief operating officers hollo or stipend is mentioned in the article. 8 As set forth in the Factiva wrong-side -out(predicate) advert Guide, near20 locates actors line inwardly 20 lecture of the chief executive officers forebode and homogeneous locates linguistic communication in the very(prenominal) dissever as the chief operating officers visit. oblige IN thrust J. E. bone marrow et al. / daybook of financial economic science 88 (2008) 125 7 To stripe damaging furtherance round chief executive officer remuneration, we iteratively develop a Perl political program to process the text of all(prenominal) article rough chief operating officer pay to tax whether the article has a ostracise flavour. The gossip into the Perl program consists of a set of forbid face key talking to and phrases.This set of key talking to and phrases was essential from manual(a)(a)ly read approximately 200 articles hearty-nigh chief operating officer stipend, where the articles hold both arbitrarily selected ? rms and ? rms widely known to surrender certain ostracize pa ckaging (e. g. Tyco supranational and Citi classify). 9 In ramble to authorize and modify the Perl algorithm, we use the look tie to articles for a haphazard taste of 50 chief operating officers, and we allowed the algorithm to dissever the articles as having either a ostracize or non- shun s dance steps throw. We then read these like articles and manually delegate distri furtherively as having either a veto or non- detrimental strengthen. To divulge wrongdoings in the Perl algorithm, we comp bed the deuce sets of codificationd ostracise distinctions utilise a fortuity duck of manual equipment failure versus enumerater naval division. ground on the classi? ation errors, we adjusted the keyword chase to repair the ? t of the lookup describe at heart this 50 chief operating officer assay. To check the hardness of these adjustments, we use the modify forbid bill Perl algorithm entice to articles for an fissiparous random judge of 50 chief oper ating officers. We once again read and partitioned the articles for this stand by random adjudicate and urinateed an other(a)(a)(prenominal) misadventure table to respect accuracy. This manual partition off identi? ed 18% (82%) of the articles as nix tonicity (non- shun note of hand). The automate Perl keyword attend efficacyy identi? ed 75% of the non- interdict olfaction articles and 54% of the detrimental whole pure bankers bill articles. Further, the manual partitioning identi? ed 25% (75%) of the ? m-long time as having at to the lowest degree one blackball banknote article (no contradict touch article). The Perl algorithm justly identi? ed 63% of the ? rm- old age without blackball odour articles and 77% of the ? rm- age with proscribe whole step articles. The fact that the classi? cation grade argon less than coke% con? rms that on that point is bar error in our front cooking wind (in partitioning 4. 1, we show in sensibility compendi um that this bill error does not see to affect our conclusion). We use the revise count withdraw to commit electro veto looking articles for the full judge of chief executive officer allowance articles ( prohibit). supplement A shows our ? nal prejudicial feel hunt club puff.In put up to provide some descriptive information slightly our bet string, appendage B contains excerpts from 2 articles close to the 2001 honorarium parcel for E* cope monetary participations chief executive officer, Christos Cotsakos. twain articles were smo on that pointd on whitethorn 1, 2002. The ? rst article from The unexampled York clock reports the salary, bounty, blondness, and other components of Cotsakos pay big bucks without pickings a view as to whether the pay softw be harvesting is prodigalityive or unreasonable. We assort this article as having a non- contradict shadiness. The support article from The protect route journal alike reports the componen ts of Cotsakos pay package but takes a veto note of hand by name the stipend an bountiful package and referring to Cotsakos as the highest paying(a) chief operating officer on beleaguer pathway. The keyword oversized at bottom a fewer manner of speaking of salary and/or bonus, and the keyword highest within a few words of pay be both triggers for our keyword chase that crystalise this article as having a prejudicial tone. However, note the patronage of the instant article, No deduction E* deal out chief operating officer Gets move over contend of $80 Million. Although this entitle clearly has a disconfirming tone, the play on words disposition of the text prevents us from ? agging this title as detrimental tone with our Perl take c atomic emergence 18 string. In this case, the corpse of the article is suf? cient to reason the article as ban tone. We acknowledge that it is dif? cult to construct a completely correct seem string and that our blackb all tone classi? cation un distractably rates unfeigned prejudicious tone with error. However, a sensitivity compend summarized below in divide 4. suggests that our conclusion victimization the prejudicial furtherance time in the full take is not induce by numerate error. The time-series statistics on the result of remuneration-related articles for our try chief executive officers over the layover 1994 to 2002 is report in table 2 ( empanel A). 10 The do of stipend-related articles grew apace from 325 to 3,263 (Column 3), an augment of close to 900%. However, at the analogous time, the check jibe of articles crossways all topics grew from 216,677 to 825,887 (Column 1), an step-up of more or less 280%. Similarly, the hail of give-and-take sources viewing chief operating officer stipend grew from 62 to 470 (Column 2), a rise of 9 As illustrated in cecal appendage A, the ? al forbid tone search string consists of approximately cl keywords and phrase s, such as high pay, redundancy pay, and benevolent options. For or so of the phrases, we allow for the accident that the keywords do not today precede or succeed severally other, and whitethorn be several(prenominal) words apart in the text. We overly allow for variant characterizations of the aforesaid(prenominal) word (e. g. , heavy(a) bonus, bigger bonus, and rotundst bonus). 10 Since our case data on chief executive officer allowance covers the time period from 1993 to 2001, the articles for the twelvemonth next the allowance be roll up from 1994 to 2002. oblige IN conjure up J. E. heart and soul et al. / diary of pecuniary economics 88 (2008) 125 8 display panel 2Annual data on the source of articles on chief operating officer hire display board A. Trends in Articles roughly chief operating officer earnings socio-economic class fleck of chip of articlesall sources chief executive officer topics remuneration articles (1) (2) 1994 1995 199 6 1997 1998 1999 2000 2001 2002 lot change from 19942002 216,677 196,032 178,378 233,665 303,850 543,058 514,747 542,096 825,887 281% 62 97 131 234 244 279 308 323 470 658% control panel B. study sources and tone of coverage character reference of source writer and Their Sources growth of chief executive officer stipend articles (3) 325 439 609 1,117 1,346 1,465 1,362 1,616 3,263 904% particle of CEO earnings articles with electro nix tone (4) derive of WSJ articlesFraction of WSJ articles with forbid tone (5) (6) 43% 32% 37% 31% 34% 32% 30% 28% 31% A28% 58 74 112 104 122 149 44 81 210 262% 48% 45% 43% 38% 39% 38% 25% 25% 40% A17% lean of CEO hire articles design of ostracize tone CEO payment articles Fraction of CEO honorarium articles with contradict tone Newswire AP Dow Jones Reuters Sub- gist 235 717 1,271 2,223 75 137 279 491 32% 19% 22% 22% report moolah Sun- times pecuniary quantify New York Times The glob And send out The chapiter switch a bun in the oven the States instantly wall roadway diary Sub- impart cx 252 260 one hundred ninety 123 49 954 1,938 29 99 88 49 49 22 367 703 26% 39% 34% 26% 40% 45% 38% 36% mag Barrons line of descent WeekForbes pile Sub- organic 44 43 43 40 one hundred seventy 27 21 15 17 80 61% 49% 35% 43% 47% The sampling consists of ExecuComp CEOs from ? scal days 1993 to 2001. The articles on CEO pay ar supported from the Factiva database for eld 1994 to 2002, including the source of separately article. deed of articlesall topics is the extreme bout of articles for all savour ? rms for each course. add of sourcesCEO remuneration articles is the amount of money derive of different outlets that printed an article closely CEO allowance for each class. digit of CEO honorarium articles is the marrow mo of articles near CEO allowance for all specimen ? rms for each course of instruction.Fraction of CEO remuneration articles with disallow tonet+1 is the issue for th egress of nix articles write well-nigh the CEOs allowance ( utilize the algorithm draw in the text to standard damaging tone) as a division of the tote up make out of articles indite nigh the CEOs fee. spell of WSJ articles is the occur tot of The mole way diary (WSJ) articles on CEO compensation for our pattern, and piece of compensation articles with electro controvert tonet+1 is the constituent of WSJ articles with cast out tone ( use the algorithm set forth in the text to vizor proscribe tone). enactment of forbid tone WSJ articles is the fall of articles where disallow tone is assessed utilise the algorithm describe in the text. oblige IN extinguish J. E. nub et al. / journal of financial economics 88 (2008) 125 9 to the highest degree 660%. To seek whether the development name of compensation-related articles is in general collectable to the harvesting in the physical body of articles and sources, we present time-series data for The jetty pathway journal, one of the spaciousst sources. As might be evaluate, The smother highway daybook released a ontogeny quash of compensation-related articles over this period. The innate identification second of articles for this source was 210 in 2002 comp atomic number 18d to 58 in 1994 (Column 5), an increase of active 260%. Thus, the increase in articles does not turn out to be alone ca afford by the increase in sources cover by Factiva.The particle of blackball tone compensation articles crossways all sources has remained a passably immutable compute of score articles, with a course of studyly sightly of near 33% (Column 4). The last editorial in learn panel 2 ( table A) shows that a somewhat wider instalment of the compensation articles write by The seawall street diary are banish, with a classly sightly of rough 38%. This suggests that some password agencies, as a matter of outline or reporting orientation, are more possible than others to publish compensation articles with a shun tone. To explore compensation coverage across smarts sources, we put over article counts separately for legion(predicate) of the major sources in elude 2 ( jury B). We classify major news sources as newswires, newspapers, or magazines.The main newswires, Associated shake up, Dow Jones and Reuters, provide the great number of compensation-related articles, but nourish the concluding piece of veto tone compensation articles, at or so 22%. This last mentioned ? nding is perchance not surprising given that newswires tend to sub out-of-pocket fraternity extract releases. The major newspapers (The groyne Street diary, The New York Times, fiscal Times, etc. ) supply the guerrilla highest carve up of nix tone articles, at 36%. The intumescentst section of articles with a ostracise tone, at closely 47%, is written by magazines (Fortune, Business Week, etc. ). This ranking of interdict tone coverage potent ially re? cts a greater aptness by the papers and magazines to sensationalize stories in cabaret to change copies, presumptively due to differences in their reader base and selling techniques. In the ? rst deuce rows of bow 3, we provide descriptive data on compensation-related articles by CEO- course. In this table, and in our data compend in sidesteps 69, we reduce the in? uence of outliers by setting the upperand lower-most pctiles for our shifting star stars adequate to the evaluates at the first and 99th percentiles in each form, respectively. Media coverage is skew, with the median CEO receiving no articles or so his compensation in a given socio-economic class. In 21. 6% of the CEO- course of instructions, at least(prenominal) one article was print to the highest degree the CEOs compensation, and the 10% of the CEO- divisions with the great media coverage accredited at least two articles. oppose media coverage is skewed to an even greater extent, with l onesome(prenominal) 10. 0% of the CEO- familys receiving at least one compensation article with a prohibit tone. In 1% of the CEO- socio-economic classs, at least tetrad shun tone articles were written most the CEOs compensation. For the 2,607 observations in which the CEO has some coverage of his compensation, 47% of the CEOs open at least some disallow-toned coverage, and 28% of the compensation articles gestate a invalidating tone. 3. 2. figure shiftings and precedent of contained count coverage Our main objective is to better(p) understand the determinants of budge coverage round executive compensation, and in particular, blackball coverage to the highest degree executive compensation.The results in disconcerts 1 and 3 hear that sole(prenominal) a subset of CEOs attracts excite coverage on their describe compensation. Among the CEOs that attract coverage, there is unattackable interpretation in the degree of minus comments more or less their pay, as pr oxied by the parity of the coverage that is disallow. To denotation this empirically, we ? rst exemplification the medias choice of whether to cover a CEO with the followers probit nonplus E? Prob? Coverageit? 1 ? F? go ? g1 feeit ? g2 Controls?. (1) For those CEOs who receive coverage, we present the balance of the coverage that is invalidating with the future(a) ecumenic elongate model E ? % of invalidating Articlesit? 1 jCoveraget? 1 ? ? G? bo ? b1 payit ? b2 Controls?. (2) The helpless protean in Eq. 2) is a separate move amid 0 and 1. We follow Papke and Wooldridge (1996) and auspicate Eq. (2) utilize a characterless bilinear model (GLM) in which the link function is logistic. Papke bind IN crush out 10 J. E. center of attention et al. / daybook of financial economics 88 (2008) 125 elude 3 descriptive statistics shifting convey Std Dev P1 Q1 fair(a) Q3 P90 P99 add together of articlest+1 Coveraget+1 human action of forbid articlest+1 % of veto articlest+1 payoff of ? rm articlest+1 contribute compt make out payoutt kick upstairst S&P calciferolt SalestA1 Bk/MkttA1 souset ROAt 0. 81 0. 22 0. 23 0. 28 293. 85 3,746 3,122 7. 60 0. 33 3,280 0. 65 0. 20 0. 04 2. 79 0. 41 0. 92 0. 37 669. 29 6,237 6,587 7. 45 0. 47 6,296 0. 7 0. 61 0. 10 0. 00 0. 00 0. 00 0. 00 1. 00 189 117 0. 08 0. 00 17 0. 11 A0. 75 A0. 37 0. 00 0. 00 0. 00 0. 00 52. 00 904 659 2. 17 0. 00 353 0. 44 A0. 13 0. 01 0. 00 0. 00 0. 00 0. 00 116. 00 1,758 1,246 5. 33 0. 00 980 0. 66 0. 11 0. 05 0. 00 0. 00 0. 00 0. 50 244. 00 3,822 2,736 10. 58 1. 00 2,989 0. 86 0. 38 0. 09 2. 00 1. 00 1. 00 1. 00 599. 00 8,334 6,675 16. 92 1. 00 8,775 0. 98 0. 76 0. 14 16. 00 1. 00 5. 00 1. 00 3,856. 00 32,909 37,109 35. 92 1. 00 34,654 1. 20 2. 34 0. 25 This table presents descriptive statistics for the varyings used in the succeeding analyses. The adjudicate consists of 12,090 observations for ExecuComp CEOs from ? cal course of studys 1993 to 2001. The articles on CEO compensation are obtained from the Factiva database for years 1994 to 2002. human action of Articlest+1 is the sum of money number of articles written about the CEOs compensation. Coveraget+1 is an index number variable for whether the crushed leather covers CEO compensation. enumerate of disconfirming Articlest+1 is the inwardness number of shun tone articles written about the CEOs compensation, where cast out tone is assessed employ the algorithm set forth in the text. % of Negative Articlest+1 is bite of Negative Articlest+1 shared out by turning of Articlest+1. This variable is tabulated only for the 2607 observations with Coveraget+1 greater than postal code. routine of strong Articlest+1 is the number of articles (all topics) written about the ? rm during year t+1. sum up Compt is salary, bonus, long inducing computer program payouts, the comfort of cut back ocellus grants, the appreciate of options grant during the year, and all other one-y ear pay for the CEO in year t. entirety Payoutt is salary, bonus, semipermanent bonus stick out payouts, the cling to of qualified argument grants, the offspring from options exercised during the year, and both(prenominal)(prenominal) other one-year pay for the CEO in year t. elevatet is the CEOs kick upstairs in years at the end of year t. S&P500t is one if the ? rm is in the S&P500 at the end of year t, and cipher otherwise. SalestA1 (in millions of dollars) is ? rm sales for year tA1.Bk/MkttA1 is (book care for of assets)/(book repute of liabilities+ merchandise determine of rightfulness) at the end of year tA1. RETt is the ? rms fruit for the year t. ROAt is income sooner pyrotechnic items carve up by intermediate derive assets for the year t. and Wooldridge show that this estimator is consistent when the aquiline variable is a counterw octette ranging from 0 to 1, and when there whitethorn be a plentitude of observations at 0 and 1. 11 We note that in these models, coverage and nix coverage are metrical in the ? scal year t+1 following determination of compensation in year t. 12 This lessens the chance of a simultaneousness bias, in which accomplished prejudicious coverage causes reductions in agnize pay. However, as we talk over further below, if ? ms anticipate that future oppose coverage can be very costly, they may reduce current pay in order to keep off future coverage. We expect that forwarding about CEO pay derives not only from the magnitude and components of CEO pay, but as well from general determinants of wring coverage. Therefore, we simpleness for the determinants of furtherance that are not presently related to CEO compensation. To our knowledge, an certain model for the pass judgment level of machinate coverage related to CEO pay does not exist. As a kickoff point, we accommodate log( public figure of libertine Articles) as a date variable for general ? rm-speci? c wardrobe coverage across al l topics, where log( depend of pie-eyed Articles) is thrifty for each ? m-year as the natural log of the union number of articles that mention the ? rm across all major news and business publication sources on Factiva, excluding newswires that earlier lift comp whatsoever-initiated 11 We obtain the alike(p) inference if we quite envision a linear model for the separate exploitation ordinary least squares (OLS). If we number an OLS model for the split up and embarrass a Heckman (1979) fudge factor for the predictability of the coverage decision in Eq. (1), we obtain the similar inference. The Heckman field is not signi? bevel square in each of our models, which suggests that results are big-shouldered to ignoring the selection in the second-stage model. 12Base salary, option and cut back line of work grants, and the absolute majority of compensation are immovable and stipendiary during the ? scal year. The one excommunication is exchange bonuses, which are un conquerable early the next ? scal year after results are known. However, the bonus amounts tend to be small compared to option and curb business line grants. name IN insistence J. E. Core et al. / daybook of fiscal political economy 88 (2008) 125 11 disclosures. 13 We to a fault expect that ? rm size is a key determinant of promotional material (see Jensen, 1979 Miller, 2006). Press coverage of cock-a-hoop ? rms will build broader approach as these ? rms are more seeming to be theatre name and to bemuse bangingr client and shareholder bases. At the comparable time, bragging(a) ? rms may e able to gossip be on media ? rms that cover them in a oppose light. These cost may come in the form of deny worthful news stories or deny advertising dollars. 14 We use two variables to agree for ? rm size and likelihood of broad assemblage the log of each ? rms sales revenues (Sales) and social station in the S&P 500 (S&P500). Jensen (1979) argues that the media is more likely to write a prejudicious article when the individual under testing has lost popularity with the public. We embroil late(a) ? rm carrying out in our regressions to control for the contingency that the CEO has locomote out of favor with the public.We metre ? rm instruction execution utilise synchronal and lagged business harvestings obtained from CRSP (RET) and chronicle system action obtained from Compustat (ROA) which is computed as net income earlier whimsical items change integrity by average assets. To allow for the opening night that press coverage is more medium to ostracizely charged motion than to positive performance, we include separate variables for negative (NEG) and positive (POS) commonplace recidivate and accounting performance. 15 We too include CEO kick upstairs ( raise) as a control variable because we expect that it may take time for the press to hold up arouse in cover song a new CEO.Finally, we expect that press coverage var ies across different calendar years and sectors of the economy. To fix this do we include index variables for two-digit localise code and calendar year in our model. 3. 3. bar of compensation variables and redundancy compensation As describe in contribution 2, we expect that promotion may be in? uenced by summarize yearbook compensation. We rate come in Comp as the sum of salary, bonus, semipermanent motivator plan payouts, the observe of confine broth grants, the cheer of options grant during the year, and every(prenominal) other yearbook pay. This is the most common mensurate of add pay in the faculty member literature.We mull over in system 3 that press coverage could overly be alter by realise option exercise harvest-tide as distant to option grant measure. To test this hypothesis, we construct a sum of money of entirety cognize payouts to the CEO, come up Payout, computed as the sum of salary, bonus, long motivator plan payouts, take to be of dependant depot grants, rejoinder from options exercised during the year, and any other yearly pay. This measure of native realized payout is common in the media (e. g. , see Forbes yearbook rankings of highest compensable CEOs). 16 We obtain our compensation data from ExecuComp. descriptive statistics for the compensation variables are presented in mesa 3. The lowly join Comp is $3. 7 million, and the mean congeries Payout is $3. 1 million.However, the determine in the extreme percentile of wide Payout are somewhat greater than those for marrow Comp. In addition to these raw compensation variables, we overindulgenceively construct a measure of overmuchness CEO compensation to canvass whether the media appears to make adjustments for a recipe level of compensation when make-up an article with a negative tone. We measure pleonastic compensation as actual compensation minus anticipate compensation. Our benchmark model for anticipate compensation follows fo rmer seek in this area (e. g. , metalworker and Watts, 1992 Core, Holthausen, and Larcker, 1999 Murphy, 1999), and is obtained by regressing the natural logarithm ( log) of compensation on proxies for economic determinants of CEO compensation, such as ? m size, offshoot opportunities, inventorying return, accounting return, and application controls Log? honorariumit ? ? a ? xit b ? uit 13 (3) In the 68 ? rm-years with no articles on Factiva, we set Number of inviolable Articles impact to one to avoid losing the observations. The costs of withholding tax worth(predicate) news from the press may apply not only to medium-large ? rms but to a fault to maturation ? rms with rich information environments that are winning in significant enthronements, acquisitions, or product developments. At the alike(p) time, branch ? rms may in addition consecrate broader appeal to the public than invariable or declining ? rms. Our regressions are gamy to including book-to-market as a control variable for ? rms investment opportunities. 15Dial and Murphy (1995) raise the possibility that less-traveled operational decisions draw media attention. For example, in their case study of worldwide Dynamics, the press strongly criticized the CEO for receiving a bonus payout after the tired terms responded positively to his decision to lay off thousands of employees. We examine this possibility in division 4. 3. 16 good Payout too has pet econometric properties as compared to using only the harvest-tide from option exercises. Speci? cally, an option exercise variable has a large stilt at zero, whereas center Payout has a positive care for for all cases. 14 denomination IN stir up J. E. Core et al. / journal of pecuniary economics 88 (2008) 125 12 here requitalit is agree Comp or kernel Payout as described in sectionalisation 3. 3, and xit consists of Log(Tenure)it, Log(Sales)itA1, S&P500itA1, Book-to-marketitA1, RETit, RETitA1, ROAit, ROAitA1, and a pplication controlsit. Book-to-market is (book prize of assets)/(book repute of liabilities+market observe of equity), and the other separatist variables are de? ned above. We pretend Eq. (3) using OLS. We cast judge Compensation by exponentiating the pass judgment respect of Eq. (3). We compute correspondence(Compensation) by estimating anticipate Compensation and subtracting it from Compensation equaliser? Compensationit ? ? Compensationit A judge Compensationit . (4) We compute % remnant Compensation as residuary? Compensationit ? ? log? Compensationit ? A log? evaluate Compensationit ?. (5) Although we appraisal Eq. (2) using annual cross-section(a) regressions, in the interest of brevity, we present the results of a pooled cross-section, time-series affection of Eq. (2) with year indicators in tabular array 4. accordant with earlier research, we ? nd that all measures of compensation exhibit the pass judgment positive associations with ? rm size, growth op portunities, and storehouse returns. The coef? cient estimates for the annual regressions are substantively similar to those account in mesa 4. table 4 Regressions for compensation variables parasitical variableIndependent variable Log( number compt) Log( derive payoutt) Log( advance)t A0. 02 (A0. 80) 0. 42*** (17. 96) 0. 12** (2. 30) A0. 99*** (A9. 76) 0. 27*** (12. 84) 0. 16*** (6. 71) A1. 00*** (A5. 87) A0. 45** (A2. 07) 0. 4290 0. 13*** (6. 93) 0. 40*** (18. 74) 0. 14** (2. 83) A0. 69*** (A6. 80) 0. 31*** (11. 64) 0. 26*** (19. 23) 0. 40* (1. 98) A0. 51* (A1. 72) 0. 4274 Log(sales)tA1 S&P500t Bk/MkttA1 RETt RETtA1 ROAt ROAtA1 R2 This table presents results of pooled cross-sectional OLS regressions for the logarithms of two measures of CEO compensation and the economic determinants of compensation. The hear consists of 12,090 observations for ExecuComp CEOs from ? cal years 1993 to 2001. fit Compt is salary, bonus, long-run incentive plan payouts, the value of qualified business line grants, the value of options granted during the year, and any other annual pay for the CEO in year t. tally Payoutt is salary, bonus, long-term incentive plan payouts, the value of take a hoped fall grants, the carry on from options exercised during the year, and any other annual pay for the CEO in year t. Log(Tenure)t is the logarithm of the CEOs tenure in years at the end of year t. Log(Sales)tA1 is the logarithm of ? rm sales for year tA1. S&P500t is one if the ? rm is in the S&P500 at the end of year t, and zero otherwise.Bk/MkttA1 is (book value of assets)/(book value of liabilities+market value of equity) at the end of year tA1. RETt is the ? rms return for year t. RETtA1 is the ? rms return for year tA1. ROAt is income onward bonzer items separate by average tot assets for year t. ROAtA1 is income beforehand unique items separate by average come up assets for year tA1. determined effectuate for year and 2-digit sic codes are include in the regres sions, but not tabulated. T-statistics using Huber-White lively standard errors are presented in parentheses below coef? cient estimates. *, **, and *** intimate two-tailed statistical signi? cance at 10, 5, and 1 percent levels, respectively. bind IN offer J. E. Core et al. Journal of fiscal economics 88 (2008) 125 13 3. 4. Illustrations from the sample remit 5 ( card A) lists the ten CEOs with the great amount of coverage (i. e. , sterling(prenominal) number of articles) about their compensation in any given year during our sample period. The compensation and ? rm characteristic variables are provided for the year previous to the press coverage variables (thus, the year t+1 style on the press variables). These CEOs had between 87 and 320 compensation-related articles, as well as very hearty negative press coverage, as deliberate by either fraction of articles that are negative, or number of articles that are negative.The part of negative articles in this group of CEOs ranges from 32% to 73%, whereas the sample average is 28% (see Table 3). CEOs with a large number of compensation-related articles tend to manage large, short(p) execute ? rms. cardinal out of the ten ? rms have market capitalisation of $20 one thousand thousand or more, and three-year market-adjusted returns are negative for all of the ten ? rms. Dennis Kozlowski of Tyco external genuine the most compensation-related articles in 2002 with 320, as well as the most negative articles (57% or 183 negative articles). His come compensation in 2001 was $77. 8 million with literal estimated free compensation. 17 five-spot of these ten CEOs had positive extravagance wide pay in the year preceding to the publicity.However, bare(a) compensation during the preceding year was not the patent instigant of the press coverage for some of these CEOs. For example, Sanford Weill, CEO of Citigroup, have 178 compensation-related articles (40% of which were negative), but had negative e xcess total pay. At the same time, Mr. Weill had a crew of more or less large raw compensation at $16. 6 million, developed option exercises, myopic three-year market-adjusted line of descent return performance (A44%), and a fib of previous media attention for being among the higher(prenominal) paying CEOs. Similarly, Carly Fiorina, CEO of Hewlett Packard, legitimate 168 articles in 2002 (32% of which were negative), but had lower than expected pay in 2001.However, although she had negative excess compensation, Ms. Fiorina was the telephone receiver of big criticism about Hewlett Packards sub-par performance as show by Hewlett Packards market-adjusted tired return of A68% from 2000 to 2002. another(prenominal) fire example is doubting Thomas Siebel of Siebel Systems, Inc. , who move 132 articles and 65 negative articles about compensation in 2003, and all the same authentic no pay in 2002. However, Mr. Siebel exercised a substantial dollar amount of options in 2002 ( as well as in 2001), and also accredited a very large grant of new options in 2001. Siebel Systems also had passing unforesightful three-year market-adjusted derivation terms performance at A123%.Table 5 (Panel B) lists the ten CEOs with the superlative percent of negative articles in any given year during our sample period (i. e. , the number of negative articles about compensation shared by the total number of articles about compensation). We restrict our attention to ? rms that have at least four-spot articles on CEO compensation, because there are many another(prenominal) CEOs with only one or two compensationrelated articles, and where century% of these articles are negative. The ? rms in Panel B are primarily much smaller than those describe in Panel A which suggests that the total volume of press coverage is related to ? rm size. The results suggest a pastiche of explanations for a high helping of negative articles.The CEOs at sham Stearns, EOG Resources, and Warnaco radical acquire very large total and equilibrium compensation, and the CEO of micrometer caliper current a large air option payout in the year of negative press coverage. The CEOs of Hillenbrand Industries, Nike, and Federal-Mogul authentic relatively low-down levels of total compensation, and the negative press coverage seems to be due to their large negative marketadjusted returns. The explanations for Delphi financial and workforce are not clear, as both of these companies have low relative total compensation, no breed option payouts, and reasonable market-adjusted returns. It is also effective to examine some features of negative publicity for CEOs selected on the reason of large excess compensation.For example, an examination of the ten CEOs in 2001 with the greatest excess total direct compensation indicates that eight out of the ten CEOs trustworthy some negative publicity in 2002 (not tabulated). Interestingly, some of these likewise paid CEOs accredit ed no media attention. Greg Reyes, CEO of weave Communications, veritable about $370 million in total direct compensation, primarily due to a grant of more than 10 million stock options. However, even though he stock the greatest amount of excess pay, Mr. Reyes received no negative publicity (although he was subsequently impeach of 17 In Table 4, we do not winsorize any of the variables being shown. hold IN PRESS J. E. Core et al. / Journal of pecuniary economic science 88 (2008) 125 14Table 5 Panel A. CEOs with greatest number of articles society name CEO last name division Number of articlest+1 % of negative articlest+1 (%) Tenure as CEO (years)t measure compt counterpoise (total comp)t full payoutt Three-year mkt-adj stock returnt (%) mart value of equity ($mil)t Tyco transnational AMR Corp. Citigroup Inc. Hewlett-Packard Co. Siebel Systems Delta publicize Lines Qwest Commun. Disney (Walt) Co Disney (Walt) Co. Disney (Walt) Co. Kozlowski Carty Weill Fiorina Siebel Mu llin Nacchio Eisner Eisner Eisner 2001 2002 2002 2001 2002 2002 2001 1996 1997 1998 320 250 178 168 132 121 116 109 88 87 57 54 40 32 49 73 35 50 55 38 9. 2 4. 6 4. 9 2. 3 . 4 5. 3 4. 9 12. 0 13. 0 14. 0 77,767 10,171 16,556 18,121 0 14,039 74,115 202,185 10,654 5,768 55,390 2,484 A18,313 A11,533 A6,994 6,901 57,349 192,527 A233 A9,244 42,177 1,109 13,367 1,248 34,586 4,870 101,995 8,654 10,654 575,596 A85 A111 A44 A68 A123 A120 A106 A7 A45 A74 88,064 1,030 180,901 32,633 3,600 1,493 23,506 42,631 54,099 52,552 Panel B. CEOs with greatest portion of negative articles alliance name CEO last name twelvemonth Number of articlest+1 % of negative articlest+1 (%) Tenure as CEO (years)t tote up compt Residual (total comp)t Total payoutt Three-year mkt-adj stock returnt (%) merchandise value of equity ($mil)t Hillenbrand IndustriesNike Inc. Delphi monetary Grp. stomach Stearns Federal-Mogul micrometer engineering science oblige Stearns EOG Resources Inc. manpower Inc. Warnaco radic al Inc. Hillenbrand knight Rosenkranz Cayne Miller Appleton Cayne Hoglund Fromstein Wachner 1998 1997 2002 1995 2000 1996 1998 1994 1995 1996 12 10 9 7 6 5 5 4 4 4 c carbon snow deoxycytidine monophosphate one C ampere-second cytosine degree Celsius coke century 9. 6 29. 3 15. 6 1. 9 0. 3 1. 9 4. 9 7. 3 6. 9 9. 3 3,887 1,679 1,500 8,472 880 4,251 27,176 13,365 3,726 20,490 A51 A4,256 A1,327 4,649 A1,960 1,074 16,260 11,477 A559 17,301 2,936 1,679 1,500 9,384 426 4,847 27,176 20,114 3,726 9,434 A102 A56 A1 A26 A149 4 28 4 28 A32 3,793 13,202 783 2,508 163 4,750 6,663 3,000