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I. INTRODUCTION Major efforts to regulate securities markets have historically been precipitated by sharp declines in stock prices accompanied by high-profile corporate scandals that pressure lawmakers to respond in order [...], One view of the Sarbanes-Oxley Act of 2002 is that it was an overreaction to a handful of rogue actors at companies that filed for bankruptcy after the collapse of the internet bubble. If that was the case, the statute's mandates may have been unnecessary for most public companies. This article argues that Sarbanes-Oxley is instead best understood as a reaction to two waves of accounting-based securities frauds. The first wave happened years before the scandals at Enron and WorldCom and prompted extensive rulemaking by stock exchanges and the SEC. Congressional action was necessary after the second wave of securities fraud to supplement these earlier measures. The driving force behind both waves was the increasing pressure to meet quarterly projections that characterizes modern valuation. Sarbanes-Oxley is an appropriate structural response to this pressure.

I. INTRODUCTION 436 II. THE MANAGERIALIST CORPORATION 441 A. Internal Capital Markets and Professional Managers 442 B. Managerialism and Corporate Purpose 446 III. THE INCOMPLETE EXPLANATIONS FOR THE TRANSITION TO [...], During the managerialist period, managers of large public companies were not pressured to maximize profits and had more discretion to consider the interests of stakeholders. According to the conventional story, managers began maximizing shareholder wealth as ideology changed to favor shareholders. This Article argues that a more significant cause of the decline of managerialism was a fundamental shift in the way that investors valued companies. As public companies became larger and more complex, professional managers developed budgets and forecasts that could be used to allocate resources within internal capital markets. External capital markets began relying on such information to generate predictions of future revenue and earnings. As investors increasingly valued public companies based on such projections, it became important for managers to consistently meet market expectations. Rather than ideology, public companies generally prioritize shareholder wealth maximization because they face pressure to validate prior predictions of their financial performance. Understanding the role of valuation in shaping the incentives of the public corporation provides a new lens for understanding corporate purpose. If the transition to shareholder wealth maximization was driven by changes in valuation, it is possible that shifts in valuation methods could result in a new managerialism where managers of some companies can make meaningful commitments to consider stakeholder interests.

The advent of artificial intelligence (AI) and the Internet of Things (IoT) in today's digital world has significantly changed the way people work, entertain, and live. The number of IoT devices connected to various networks is growing exponentially. Data centers estimate that more than 41 billion connected devices will be in use by 2025. The amount of information being sent back to the cloud grows in proportion to the number of connected devices. Today's data centers struggle to provide guaranteed transfer rates and response times due to the massive amounts of data that must be processed in the cloud.

ABSTRACT Securities regulation has traditionally focused on encouraging truthful disclosure that facilitates the accurate pricing of securities. A typical securities fraud claim under the primary antifraud provision, Rule 10b-5, must [...]

ABSTRACT Although the securities industry is primarily regulated by specific rules, it is also governed by general principles. When conduct violates a rule, the regulatory response is obvious--enforce the rule. [...]

Dysfunction of apoptosis and DNA damage response pathways often drive cancer, and so a better understanding of these pathways can contribute to new cancer therapeutic strategies. Diverse discovery approaches have identified many apoptosis regulators, DNA damage response, and DNA damage repair proteins; however, many of these approaches rely on indirect detection of DNA damage. Here, we describe a novel discovery platform based on the comet assay that leverages previous technical advances in assay precision by incorporating high-throughput robotics. The high-throughput screening (HTS) CometChip is the first high-throughput-compatible assay that can directly detect physical damage in DNA. We focused on DNA double-strand breaks (DSBs) and utilized our HTS CometChip technology to perform a first-of-its-kind screen using an shRNA library targeting 2564 cancer-relevant genes. Conditions of the assay enable detection of DNA fragmentation from both exogenous (ionizing radiation) and endogenous (apoptosis) sources. Using this approach, we identified LATS2 as a novel DNA repair factor as well as a modulator of apoptosis. We conclude that the HTS CometChip is an effective assay for HTS to identify modulators of physical DNA damage and repair.

I. INTRODUCTION II. GAAP AND MATERIALITY A. Financial Statements and GAAP B. Materiality. The Shift from a Quantitative to Qualitative Standard C. Mapping the Liability Framework 1. Liability Under a [...]

Public companies in the United States must comply with both federal securities law and state corporate law. This division of labor is premised on the assumption that there is a meaningful distinction between securities and corporate law. The most common view is that securities law is characterized by its use of disclosure, while corporate law sets forth substantive requirements. Critics respond that securities law is really just a federal version of corporate law. They argue that the federal policy of investor protection justifies preempting state corporate law to address corporate mismanagement. While investor protection concerns have been invoked as a reason for unifying corporate and securities law, this Article contends that corporate and securities law can be distinguished based on the type of protection they provide to investors. Both corporate and securities law serve to protect investors, but they do so at two different phases of the investment process. First, when purchasing or selling a stock, a trading investor is vulnerable to transacting at an unfair price. Second, during the period when an investor owns a stock, he is vulnerable to new corporate misconduct that reduces the value of the company. Simply put, securities law protects investors as traders while corporate law protects investors as owners. Distinguishing between trading and ownership protection provides a strong basis for regulating securities and corporate law in different ways. Securities law is uniform and mandatory because investors have a common interest in fair valuation when trading. Corporate law is diverse and enabling because the ownership interests of investors are more difficult to reconcile. [ABSTRACT FROM AUTHOR]

Public companies in the United States must comply with both federal securities law and state corporate law. This division of labor is premised on the assumption that there is a meaningful distinction between securities and corporate law. The most common view is that securities law is characterized by its use of disclosure, while corporate law sets forth substantive requirements. Critics respond that securities law is really just a federal version of corporate law. They argue that the federal policy of investor protection justifies preempting state corporate law to address corporate mismanagement. While investor protection concerns have been invoked as a reason for unifying corporate and securities law, this Article contends that corporate and securities law can be distinguished based on the type of protection they provide to investors. Both corporate and securities law serve to protect investors, but they do so at two different phases of the investment process. First, when purchasing or selling a stock, a trading investor is vulnerable to transacting at an unfair price. Second, during the period when an investor owns a stock, he is vulnerable to new corporate misconduct that reduces the value of the company. Simply put, securities law protects investors as traders while corporate law protects investors as owners. Distinguishing between trading and ownership protection provides a strong basis for regulating securities and corporate law in different ways. Securities law is uniform and mandatory because investors have a common interest in fair valuation when trading. Corporate law is diverse and enabling because the ownership interests of investors are more difficult to reconcile. [ABSTRACT FROM AUTHOR]

With the ever–growing needs for personal learning, a multidimensional mechanism that aims at providing tailored educational contents in an open environment in this study. This mechanism is implemented in an intelligent tutoring system (ITS), which primarily consists of three interactive modules for learning content delivery. The self–organising map (SOM) is applied to the analysis of the factors (e.g., individual needs, preferences, etc.) and as the main process towards the delivery of recommendations and achieve personalisation. Results demonstrate that the proposed mechanism gives a solution to the issue of information overload and enhances interest and efficiency for personal learning. Contributions include: 1) the cost of time on obtaining useful learning content in an open environment is reduced; 2) the chance towards socially–learning scenario with personalised learning support is achieved.

Distributed Video Coding (DVC) is an emerging eld that offers a brand–new paradigm for answering challenging questions in video coding applications. The unique potentials of DVC lie in its particular structure, targeting low encoding complexity and error robustness. DVC shows good prospects especially in wireless video sensor network, video monitoring, mobile camera, satellitic video communication and the other energy supply limited video applications. There has been amount of activities both in research and industry. Following the evolving stages, this paper provides an overview of DVC, including the theoretical foundation: Slepian–Wolf Theorem and Wyner–Ziv Theorem, the framework foundation: Distributed Source Coding (DSC) and the relation between DSC and DVC, and unique technologies comparison to conventional compressed method, including side information, channel coding, joint decoding and motion estimation, which highlight critical research issues. Additionally, ve representative encoder are introduced as implementation aspects. Finally, several active research areas in the state of the art are reviewed with open challenging issues.

Peripartum (PP) cardiomyopathy (CM) is a rare condition of unknown etiology that occurs in late pregnancy or early postpartum. Initial evidence suggests that genetic factors may influence PPCM. This study evaluated and replicated genome-wide association of single nucleotide polymorphisms with PPCM.

The article presents a reprint of the article "The Competing Paradigms of Securities Regulation," by James J. Park, which appeared in the 57th issue of the Duke Law Journal. According to the author, the article discusses the regulatory tools for specific rules in the securities industry. The author also studies paradigms in securities regulation namely rulemaking and principles-based enforcement.

The location of poly(A) sequences in the RNA of mammalian RNA-tumor viruses was determined by enzymatic analyses. The 56-64S viral genomic RNAs, the 20-40S viral subunit RNAs, and the 4-5S poly(A) sequences excised from these viral RNAs were subjected to either hydrolysis with a 3′-OH specific exoribonuclease from Ehrlich ascites tumor cells or phosphorolysis from the 3′-termini with polynucleotide phosphorylase from Micrococcus luteus. Purified adenosine-labeled poly(A) fragments, excised from genomic viral RNAs by RNase A and T1digestion, were hydrolyzed with the 3′-OH specific exoribonuclease for various periods of time. Poly(U) filter binding studies of the residual poly(A) indicated that 97% of the poly(A) fragments were hydrolyzed. Adenosine-labeled genomic and subunit viral RNAs and excised poly(A) fragments were phosphorolyzed from their 3′-termini for various periods of time with polynucleotide phosphorylase. The degree of phosphorolysis was monitored by poly(U) filter binding studies, and CCl3COOH insolubility and solubility determinations. There was an initial preferential rate of phosphorolysis of the poly(A) sequences of genomic and subunit viral RNAs as compared to the total adenosine-labeled viral RNAs. The data from these two different enzymatic mechanisms of action indicated conclusively that the poly(A) sequences were located at the 3′-termini of genomic and subunit viral RNAs.