An examination of the relationship of governance structure and performance: Evidence from banking companies in Bangladesh

Corporate governance has become increasingly important in developed and developing countries just after a series of corporate scandals and failures in a number of countries. Corporate governance structure is often viewed as a means of corporate success despite prior studies reveal mixed, somewhere conflicting and ambiguous, and somewhere no relationship between governance structure and performance. This study empirically investigates the relationship between corporate governance mechanisms and financial performance of listed banking companies in Bangladesh by using two multiple regression models. The study reveals that a good number of companies do not comply with the regulatory requirements indicating remarkable shortfall in corporate governance practice. The companies are run by the professional managers having no duality and no ownership interest for which they are compensated by high remuneration to curb agency conflict. Apart from some inconsistent relationship between some corporate variables, the corporate governance mechanisms do not appear to have significant relationship with financial performances. The findings reveal an insignificant negative impact or somewhere no impact of independent directors and non-independent non-executive directors on the level of performance that strongly support the concept that the managers are essentially worthy of trust and earn returns for the owners as claimed by stewardship theory. The study provides support for the view that while much emphasis on corporate governance mechanisms is necessary to safeguard the interest of stakeholders; corporate governance on its own, as a set of codes or standards for corporate conformance, cannot make a company successful. Companies need to balance corporate governance mechanisms with performance by adopting strategic decision and risk management with the efficient utilization of the organization’s resources

TIRSPEC : TIFR Near Infrared Spectrometer and Imager

We describe the TIFR Near Infrared Spectrometer and Imager (TIRSPEC) designed and built in collaboration with M/s. Mauna Kea Infrared LLC, Hawaii, USA, now in operation on the side port of the 2-m Himalayan Chandra Telescope (HCT), Hanle (Ladakh), India at an altitude of 4500 meters above mean sea level. The TIRSPEC provides for various modes of operation which include photometry with broad and narrow band filters, spectrometry in single order mode with long slits of 300" length and different widths, with order sorter filters in the Y, J, H and K bands and a grism as the dispersing element as well as a cross dispersed mode to give a coverage of 1.0 to 2.5 microns at a resolving power R of ~1200. The TIRSPEC uses a Teledyne 1024 x 1024 pixel Hawaii-1 PACE array detector with a cutoff wavelength of 2.5 microns and on HCT, provides a field of view of 307" x 307" with a plate scale of 0.3"/pixel. The TIRSPEC was successfully commissioned in June 2013 and the subsequent characterization and astronomical observations are presented here. The TIRSPEC has been made available to the worldwide astronomical community for science observations from May 2014.Comment: 20 pages, 21 figures, 2 tables. Accepted for publication in Journal of Astronomical Instrumentatio

Exploring Protein-Protein Interactions as Drug Targets for Anti-cancer Therapy with In Silico Workflows

We describe a computational protocol to aid the design of small molecule and peptide drugs that target protein-protein interactions, particularly for anti-cancer therapy. To achieve this goal, we explore multiple strategies, including finding binding hot spots, incorporating chemical similarity and bioactivity data, and sampling similar binding sites from homologous protein complexes. We demonstrate how to combine existing interdisciplinary resources with examples of semi-automated workflows. Finally, we discuss several major problems, including the occurrence of drug-resistant mutations, drug promiscuity, and the design of dual-effect inhibitors.Fil: Goncearenco, Alexander. National Institutes of Health; Estados UnidosFil: Li, Minghui. Soochow University; China. National Institutes of Health; Estados UnidosFil: Simonetti, Franco Lucio. Consejo Nacional de Investigaciones Científicas y Técnicas. Oficina de Coordinación Administrativa Parque Centenario. Instituto de Investigaciones Bioquímicas de Buenos Aires. Fundación Instituto Leloir. Instituto de Investigaciones Bioquímicas de Buenos Aires; ArgentinaFil: Shoemaker, Benjamin A. National Institutes of Health; Estados UnidosFil: Panchenko, Anna R. National Institutes of Health; Estados Unido

Calcium Complex Grease as a Suitable Substrate for Gas Liquid Chromatography

905-90

Liquid 4He near the superfluid transition in the presence of a heat current and gravity

The effects of a heat current and gravity in liquid 4He near the superfluid transition are investigated for temperatures above and below T_lambda. We present a renormalization-group calculation based on model F for the Green's function in a self-consistent approximation which in quantum many-particle theory is known as the Hartree approximation. The approach can handle a zero average order parameter above and below T_lambda and includes effects of vortices. We calculate the thermal conductivity and the specific heat for all temperatures T and heat currents Q in the critical regime. Furthermore, we calculate the temperature profile. Below T_lambda we find a second correlation length which describes the dephasing of the order parameter field due to vortices. We find dissipation and mutual friction of the superfluid-normal fluid counterflow and calculate the Gorter-Mellink coefficient A. We compare our theoretical results with recent experiments.Comment: 26 pages, 9 figure

Governance tools for board members : adapting strategy maps and balanced scorecards for directorial action

The accountability of members of the board of directors of publicly traded companies has increased over years. Corresponding to these developments, there has been an inadequate advancement of tools and frameworks to help directorial functioning. This paper provides an argument for design of the Balanced Scorecard and Strategy Maps made available to the directors as a means of influencing, monitoring, controlling and assisting managerial action. This paper examines how the Balanced Scorecard and Strategy Maps could be modified and used for this purpose. The paper suggests incorporating Balanced Scorecards in the Internal Process perspective, ‘internal’ implying here not just ‘internal to the firm’, but also ‘internal to the inter-organizational system’. We recommend that other such factors be introduced separately under a new ‘perspective’ depending upon what the board wants to emphasize without creating any unwieldy proliferation of measures. Tracking the Strategy Map over time by the board of directors is a way for the board to take responsibility for the firm’s performance. The paper makes a distinction between action variables and monitoring variables. Monitoring variables are further divided on the basis of two considerations: a) whether results have been met or not and b) whether causative factors have met the expected levels of performance or not. Based on directorial responsibilities and accountability, we take another look at how the variables could be specified more completely and accurately with directorial recommendations for executives

Spin pumping and magnetization dynamics in metallic multilayers

We study the magnetization dynamics in thin ferromagnetic films and small ferromagnetic particles in contact with paramagnetic conductors. A moving magnetization vector causes \textquotedblleft pumping\textquotedblright of spins into adjacent nonmagnetic layers. This spin transfer affects the magnetization dynamics similar to the Landau-Lifshitz-Gilbert phenomenology. The additional Gilbert damping is significant for small ferromagnets, when the nonmagnetic layers efficiently relax the injected spins, but the effect is reduced when a spin accumulation build-up in the normal metal opposes the spin pumping. The damping enhancement is governed by (and, in turn, can be used to measure) the mixing conductance or spin-torque parameter of the ferromagnet--normal-metal interface. Our theoretical findings are confirmed by agreement with recent experiments in a variety of multilayer systems.Comment: 10 pages, 6 figure