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We investigate the impact of a new regulation, Amendment 20, on executive compensation in Israel. The Amendment, effective as of 2013, is aimed at controlling rapidly increasing executive compensation, as well as the perceived disconnect between executive pay and firm’s financial performance. The concentrated ownership structure in Israel provides us with the opportunity to examine the value of control as manifested in the implementation of the Amendment. The analysis is conducted using hand-collected data on firms traded on Tel-Aviv Stock Exchange in a 2-year window around 2012, the year in which the Amendment was signed into law. We find evidence that chief executive officers (CEOs) classified as related parties in firm’s annual financial statements are able to impact the structure of their post-amendment compensation. Our evidence is consistent with CEOs who are related parties, compared to CEOs who are not related parties, influencing the design of their compensation so that its bonus component increases, leading to an increase in their total cash compensation. However, we are unable to find evidence that this increase stems from an increase in salary. In this way, companies with influential CEOs seem to shift the composition of pay from cash salaries to cash bonuses in response to the Amendment, visibly complying with the intent of the Amendment, however, leaving the CEO better off. We also find evidence for the ability of powerful chairmen to temper the bonus growth of non-influential CEOs. Last, we find no evidence that equity-based compensation increased, suggesting that the bonding of CEO pay to stock-market performance did not increase.

Conventional migration methods have been being limited in its imaging ability due to without consideration of absorption and dispersion of subsurface medium. Thus it is difficult for them to very precisely image subsurface structures. Also the amplitude of image can not correctly indicate the changes of lithological and physical properties. In this paper, seismic absorption and dispersion is considered when a migration extrapolation operator is computed, and also compensated during the wave extrapolation. extrapolation operator is obtained by a nonlinear optimization along with a linear optimization. With this method, the operator can be of stability and accuracy. The processing on numerical models and field seismic data show that, in comparison with traditional acoustic wave migration algorithms, the migration with absorption compensation algorithm can get more correct and accurate subsurface image.

Positive accounting theory hypothesizes that certain economic and contracting variables (such as earnings-based compensation and debt contracts) provide a manager with incentives to obtain his own self-interest by managing reported earnings. A separating equilibrium at stage 1 is developed in which the manager of a good firm selects an income-increasing strategy and the manager of a bad firm selects an income-decreasing strategy. We point out that the strategic use of a debt-contract, comprised of repayments and costly distress financing, can induce the manager to reveal his firm type by an earnings management strategy at stage 1. However, in the final stage a pooling equilibrium and a separate equilibrium can be obtained at the same time. In a pooling equilibrium the managers of two types both choose an income-increasing strategy to increase their compensation. However, if the manager of the bad firm takes his reputation into consideration, then he may have an incentive to choose the income-decreasing method. We can hence derive a separate equilibrium at stage 2.

Inter symbol interference (ISI) caused by dispersion in optical fibers is the major limiting factor on the achievable data rate or transmission distance in high-speed fiber-optic interconnects¹. Compared with optical-domain and other electrical-domain dispersion compensation methods, duobinary coding technology is used due to its higher spectral efficiency. In this paper, a monolithically integrated duobinary optical transmitter has be designed and fabricated in standard 0.18 μm CMOS technology. This transmitter consists of a duobinary encoder and a VCSEL driver. The master-slave D flip-flop structure is used to generate the wideband one bit delay which is important for the realization of duobinary signal. An open drain structure is used in VCSEL driver design to provide the higher current output in low supply voltage condition. This duobinary transmitter can operate up to 5 Gb/s with 20 mA current output. The current consumption is only 50 mA under 1.8 V supply voltage.

This paper analyses the problems arising in the pure exchange fair division model, when some dimensions of the resources are personal, fixed, and cannot be redistributed. The remaining resources must then be allocated in a compensatory way. A set of desirable normative properties is defined. No-envy satisfies these properties, but is not generally non-empty in this setting and other criteria are examined, for which existence results are given. General impossibility results obtain. In particular, it is generally impossible to compensate fully and only for differential personal resources, when preferences differ.

Correctness of a system depends on the correct execution of transactions. For large systems, e.g., web-based, these transactions involve more than one component and hence more than one independent entity. Such transactions are called Long Running Transaction(LRT) as they coordinate complex interactions among multiple sub-systems. Well known roll-back mechanism do not suffice to handle faults in LRTs, therefore compensation mechanisms are introduced. However, introduced structures are complex and hard to understand and handle. Formal methods are well known tool for modelling, analysis and synthesis of complex systems. In this chapter we present a technique that allows modelling LRTs using Compensating CSP, then translating them to Promela language and analyzing using SPIN tool. We have modelled and verified the LRTs. We exemplify it using a web service called Air-ticket Reservation System (ATRS).

In order to solve the Web Service Transaction Management, the author proposed and realized a kind of compensation-based transaction mechanism, which developed the Transaction engine. It takes advantage of pre-compensation and WS-Transaction specification s' two-phase commitment to parse the database operation statements participant transaction, to do a scene preservation possible changes in the database, and generating the statement set for compensation automatically. When need to cancel the transaction, the management center will rollback automatically according to the client vote and compensate information, which can better solve the problem of Web Service transactions.

The existence of backlash greatly reduces the performance of the multi-stage gear transmission system and even leads to system instability. In order to solve the problems, the backlash is modeled by the nonlinear function and the lumped-parameter method is applied to establish the equations of the system. The influence of backlash impact on multi-stage gear transmission system is simulated by Matlab/Simulink and the control method to eliminate the influences of backlash is mainly studied. The compensating method is based on ideal model control theory to reduce backlash effect on the system. Instead of using a typical PID controller, the fuzzy controller with angle difference feedback is designed. Simulations results show the control method obviously effective in compensating the backlash and enhance the response and the stable precision of the multi-stage gear transmission system.