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Daily Archives: February 23, 2014

Risk, Incentives, and the Desirability of Prudent Managers

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Friedman, Henry L., Risk, Incentives, and the Desirability of Prudent Managers (February 1, 2014). Available at SSRN: http://ssrn.com/abstract=2399690

“I analyze a model in which the CFO oversees a reporting system that provides information useful for monitoring, decision-making, and contracting. The CFO’s actions influence the precision and bias of the performance metric, as well as the productivity of the CEO. In this setting, I find that the CEO’s compensation incentives and the quality of the reporting system can be substitutes or complements. When they are substitutes, the CEO’s incentive compensation is positively related to performance metric risk, and firm value can be increasing or decreasing in the CFO’s risk aversion. In a simple difference-in-difference test comparing CEOs and CFOs around the introduction of SOX, I find evidence that firms’ preferences for CFO risk aversion are affected by biasing costs, consistent with the model’s predictions.”

Ray Kurzweil changing the landscape of Google with new focus on robotics

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Guardian: “Ray Kurzweil…believes that we can live for ever and that computers will gain what looks like a lot like consciousness in a little over a decade is now Google’s director of engineering. The announcement of this, last year, was extraordinary enough. To people who work with tech or who are interested in tech and who are… Continue Reading

Summary Health Statistics for U.S. Adults: National Health Interview Survey, 2012

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Vital and Health  Statistics, Series 10, Number 260. Summary Health Statistics for U.S. Adults: National Health. Interview Survey, 2012. Data from the National Health Interview Survey. February 2014. “This report provides national estimates for a broad range of health measures for the U.S. civilian non institutionalized population of adults. The other two reports in this set provide estimates of selected health measures for the U.S.… Continue Reading

Pakistan one of only four countries in the world that make tax records public

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Sheila S. Coronel via her blog,  WatchDog Watcher:  “On February 15, Pakistan became one of only four countries in the world that make tax records public. The other three are Norway, Finland and Sweden. A year ago, no one would have thought this was possible. Pakistan, after all, is a cesspool of corruption and a… Continue Reading

What Courses Should Law Students Take? Harvard’s Largest Employers Weigh In

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Coates, IV, John C. and Fried, Jesse M. and Spier, Kathryn E., What Courses Should Law Students Take? Harvard’s Largest Employers Weigh In (February 17, 2014). Available at SSRN: http://ssrn.com/abstract=2397317 “We report the results of an online survey, conducted on behalf of Harvard Law School, of 124 practicing attorneys at major law firms. The survey… Continue Reading

Report – Gender at Work

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World Bank: “Women around the world still face huge, persistent gender gaps at work, according to a new report by the World Bank Group, which calls for bold, innovative measures to level the playing field and unleash women’s economic potential. By virtually every global measure, women are more economically excluded than men, according to Gender at Work.… Continue Reading

Human Smuggling and Trafficking into Europe: A Comparative Perspective

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Migration Policy Institute Report by Louise Shelley, February 2014: “Human smuggling and trafficking are rapidly growing transnational criminal activities that involve the recruitment, movement, and delivery of migrants from a sending region to a destination. This report examines trafficking and smuggling trends and routes to Europe, and profiles the facilitators and clients/victims of such activities. Trafficked or smuggled… Continue Reading

CRS – Career and Technical Education: A Primer

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Career and Technical Education (CTE): A Primer, Cassandria Dortch, Analyst in Education Policy, February 10, 2014. “Career and Technical Education (CTE), often referred to as vocational education, provides occupational and non-occupational preparation at the secondary, postsecondary, and adult education levels. CTE is an element of the nation’s workforce development system. As such, CTE plays a role in reducing unemployment and… Continue Reading

CRS – Vulnerable Youth: Background and Policies

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Vulnerable Youth: Background and Policies, Adrienne L. Fernandes-Alcantara, Specialist in Social Policy, January 13, 2014 “The majority of young people in the United States grow up healthy and safe in their communities. Most of those of school age live with parents who provide for their well-being, and they attend schools that prepare them for advanced education or vocational training… Continue Reading

2014 U.S. Climate Action Report to the UN Framework Convention on Climate Change

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“On January 1, 2014, the Department of State submitted the 2014 U.S. Climate Action Report to the United Nations Framework Convention on Climate Change (UNFCCC).  This report, which includes the First U.S. Biennial Report and Sixth U.S. National Communication to the UNFCCC, details actions the United States is taking domestically and internationally to mitigate, adapt to,… Continue Reading