The most influential approach of corporate governance, the view of shareholders’ supremacy does not take into consideration that the key task of modern corporations is to generate and transfer firm-specific knowledge. It proposes that, in order to overcome the widespread corporate scandals, the interests of top management and directors should be increasingly aligned to shareholder’ interests by...

Machine loading problem in a flexible manufacturing system (FMS) encompasses various types of flexibility aspects pertaining to part selection and operation assignments. The evolution of flexible manufacturing systems offers great potential for increasing flexibility by ensuring both cost-effectiveness and customized manufacturing at the same time. This paper proposes a linear mathematical prog...

Public sector agencies are an important front in the day-to-day battle for political supremacy between the executive and the legislature. The executive’s key agents in this conflict are his appointees, who frequently play one of two roles: Congressional allies, where they help Congress implement policy and Congressional adversaries, where they fight with Congress to shift policy strongly toward...

Most of the research in comparative corporate governance has, implicitly or explicitly, taken the US as benchmark. But recent corporate scandals, such as Enron and Worldcom, question this alleged supremacy. What went wrong? In this chapter we claim that the problem is not just lack of appropriate disclosure or legislation, but a more fundamental one: deficient incentives for the media to expose...

Since its public release in late 2022, the artificial intelligence (AI) tool ChatGPT has generated considerable excitement and consternation. Many scientists, including hydrologists, view this others like it as threats, while dismiss them irrelevant distractions. Although capability of technology to ‘do’ hydrological research is lacking, AI tools present significant opportunities—with caveats—f...

If we try to estimate the parameters of the AR process {Xn} using the observed process {Xn+Zn} then these estimates will be badly biased and not consistent but we can minimize the damage using a robust estimation procedure such as GM-estimation. The question is does additive contamination affect estimates of “core” parameters in the infinite variance case to the same extent that it does in the ...