Joint Vision 2010 describes an approach about joint warfare of the future, and it depends on and highlights the contributions of air power. Accordingly, the Air Force’s vision of Global Engagement flows from Joint Vision 2010. The Air Force’s Strategic Plan outlines the core competencies that are necessary for Global Engagement. The capability for attaining the desired capabilities and goals of...

We investigate relations among inside ownership, managerial expenses, risk sharing and equity valuations. Our engine of analysis—Real Estate Investment Trusts (REITs)—provides a unique and rich framework for analysis since we can calculate extremely accurate measures of asset replacement costs, and hence relative valuation (Tobin’s q). Further, the nature of the financial statements allows us t...

Section 404 of the Sarbanes-Oxley Act of 2002 (SOX) requires that companies subject to the Securities and Exchange Act of 1934 include in their annual reports a report of management on the company's internal control over fmancial reporting. This must contain management's assessment and a statement of the effectiveness of the controls. Almost no guidance, however, has been provided on how to eva...

A public sector undertaking may be defined as a business undertaking, which is owned managed and controlled by the State, on behalf of public at large. These undertakings have come to enjoy a unique position in the Indian economy in the post independence era. They have been responsible for forming a strong industrial base and providing the basic infrastructure for development in the country. Fr...

Discussions of financial systems tend to identify banks (financial intermediaries) and markets as the major institutions determining the workings of the financial system as it guides the flow of funds from the household sector to the production sector of the economy. The contrast of "bankdominated" and "market-oriented" financial systems has for a long time occupied centre stage of the literatu...

Conceptual issues and the basis for the use of financial statements from the perspective of complexity and chaos are proposed. After analyzing the implications that these perspectives have for financial statements, basic accounting equation is examined from the view of complex logic through the mechanisms of the circumscription. Besides, the phase spaces arising from the relationship between in...

A semi-coarsened multigrid algorithm with a point block Jacobi, multi-stage smoother for second-order upwind discretizations of the two-dimensional Euler equations which produces convergence rates independent of grid size for moderate subsonic Mach numbers is presented. By modification of this base algorithm to include local preconditioning for low Mach number flows, the convergence becomes lar...