Experimental study of suppressing cooking oil fire with water mist using a cone calorimeter

Cooking oil fires in kitchens are difficult to extinguish as they are easy to re-ignite. Such kind of fires are different from the conventional flammable liquid fuel fires and have been classified into a new fire class, i.e. Class F, by some international recognized standard institutions such as National Fire Protection Association. Water mist fire suppression systems are proposed to suppress kitchen fires. In this paper, results in small-scale experiments using cone calorimeter on suppressing cooking oil fires with water mist will be reported. It is observed that good design of the system can suppress peanut oil fire effectively. There might be adverse effects on enhancing the combustion, producing more carbon monoxide and giving out more dark smoke for improper design.     

International Transfer Pricing for Business Operations in China: Inducements, Regulation and Practice

This paper provides an empirical analysis of international transfer pricing in the People's Republic of China. The examination of the business environment in China reveals a mixed inducement for transfer pricing decisions by foreign investment enterprises (FIEs). The legislation on transfer pricing in China is similar to that of its major trading partners. Competition among local governments for foreign investment, inadequate resources for tax enforcement, and inadequate documentation by taxpayers hinder tax audits on transfer pricing. An analysis of aggregate import and export data does not support the allegation that, in general, FIEs shift profits out of China by over-pricing their imports and under-pricing their exports. However, there was some evidence of outward income-shifting in certain key sectors.     

International portfolio selection and efficiency analysis

In the risk-return tradeoff, the traditional mean-variance analysis has been widely used for studies of international portfolio efficiency and diversification. Without prior knowledge about either the parametric structure of assets' return distributions or the form of investors' preference functions, the variance may no longer serve as a suitable risk proxy. This article examines international portfolio efficiency and diversification effects through mean-variance and various distribution-free (or less restrictive) risk-return measures. We show empirically that the mean-variance model is appropriate for large or well-diversified portfolios, but may provide biased results for single assets and less diversified portfolios. While stochastic dominance stands as theoretically the most appropriate method of international portfolio selection and efficiency analysis, the lack of optimal search algorithms reduces its practical usefulness. Very little gain is obtained by using the Gini-mean-difference risk measure as compared to the semivariance measure. The semivariance measure is a powerful and convenient discriminator of risky prospects, while stochastic dominance can serve as a benchmark to justify portfolio efficiency.     

Risk-taking and relational perspective on turnover intentions

This study investigated risking-taking and network ties and their impact on an individual's intention to quit from a relational perspective. Using the social identity and social capital as the theoretical foundation, hypotheses were developed to examine how internal instrumental and external ties as well as ties with higher ranked individuals and their association with turnover intention. These hypotheses were empirically tested using data collected from 126 full-time employees in a Chinese setting. The results showed that high risk propensity was positively associated with turnover intention. Not only internal ties that binds, but external networking also matter in turnover decisions.     

The Association between Board Composition and Different Types of Voluntary Disclosure

Abstract

This study examines the association between board composition and voluntary disclosure in annual reports. In particular, it addresses the incentives within the agency theory framework for both inside and independent directors to disclosure additional information voluntarily. Further, it provides evidence on the relation between the overall total voluntary disclosure and the components of voluntary disclosure, such as forward looking, strategic, non-financial and historical financial disclosures and board composition. Our sample is based on 181 Australian companies. We have developed and hand-collected 67 items from annual reports to develop the total voluntary disclosure index and the sub-indices of voluntary disclosure. Using two-stage multivariate analyses, our results provide some important insights. First, we find that there is a positive association between board composition and the voluntary disclosure of information in annual reports. Second, we also find that independent boards provide more voluntary disclosure of forward looking information and strategic information. However, board structure has no bearing on the voluntary disclosure of non-financial and historical financial information. Our findings are enhanced by different empirical specifications and sensitivity tests.     

A Relook into the Impact of Divestitures in the Presence of Agency Conflicts: Evidence from Property Subsidiary Sell-Offs in China

We analyze property subsidiary sell-offs in China to examine her market reaction to firms’ divestiture decisions. Overall, the response from the stock market is neutral. However, detailed analysis reveals that the market reacts differently to property subsidiary sell-off announcements by state-owned enterprises (SOEs) and non-SOEs. Consistent with findings from extant literature, we find statistically positive market returns associated with non-SOE sell-off announcements. However, we find statistically negative market returns associated with SOE sell-off announcements. We suggest that this divergent market reaction is influenced by the institutional feature of the Chinese market and is consistent with the high agency costs associated with state ownership.     

Ambulatory care registered nurse performance measurement

On March 1-2, 2010, a state-of-the-science invitational conference titled "Ambulatory Care Registered Nurse Performance Measurement" was held to focus on measuring quality at the RN provider level in ambulatory care. The conference was devoted to ambulatory care RN performance measurement and quality of health care. The specific emphasis was on formulating a research agenda and developing a strategy to study the testable components of the RN role related to care coordination and care transitions, improving patient outcomes, decreasing health care costs, and promoting sustainable system change. The objectives were achieved through presentations and discussion among expert inter-professional participants from nursing, public health, managed care, research, practice, and policy. Conference speakers identified priority areas for a unified practice, policy, and research agenda. Crucial elements of the strategic dialogue focused on issues and implications for nursing and inter-professional practice, quality, and pay-for-performance.     

Asian Currency Baskets: An Answer in Search of a Question?

This paper considers whether an intra regional currency basket and the associated divergence indicators could play a useful role in official exchange rate surveillance. Recently, proponents of an Asian currency basket have referred to the role the European Currency Unit played in constructing exchange rate divergence indicators as evidence of the usefulness of intra regional currency baskets for exchange rate monitoring. The paper shows that such indicators have a number of features that can lead to them obscuring underlying changes in exchange rates and that the signals they emit will often be difficult to interpret. In addition, the use of regional currency baskets for surveillance can lead to potentially serious N − 1 problems in circumstances when there is not agreement about which regional currencies will be the anchor currencies.

Did Tax Reform Reduce Actual US Progressivity? Evidence from the Taxpayer Compliance Measurement Program

Micro data from audited tax returns are used to evaluatechanges in the actual progressitivity of U.S. federal incometaxes in 1979 and 1988, which is distinct from apparent progressivity.Statistical inference methods are applied to global measuresof both actual and apparent residual and liability progression.The analysis reveals an absence of change in the overall levelof actual residual progressivity, but statistically significantdeclines in actual liability progression. The results indicatethat in assessing overall tax progression it is important totake sampling errors into account and that measures of actualtax progressivity can deviate significantly from apparent progressivity.