Corporate Payout Policy synthesizes the academic research on payout policy and explains "how much, when, and how". That is (i) the overall value of payouts over the life of the enterprise, (ii) the time profile of a firm's payouts across periods, and (iii) the form of those payouts. The authors conclude that today's theory does a good job of explaining the general features of corporate payout policies, but some important gaps remain. So while our emphasis is to clarify "what we know" about payout policy, the authors also identify a number of interesting unresolved questions for future research. Corporate Payout Policy discusses potential influences on corporate payout policy including managerial use of payouts to signal future earnings to outside investors, individuals' behavioral biases that lead to sentiment-based demands for distributions, the desire of large block stockholders to maintain corporate control, and personal tax incentives to defer payouts. The authors highlight four important "carry-away" points: the literature's focus on whether repurchases will (or should) drive out dividends is misplaced because it implicitly assumes that a single payout vehicle is optimal; extant empirical evidence is strongly incompatible with the notion that the primary purpose of dividends is to signal managers' views of future earnings to outside investors; over-confidence on the part of managers is potentially a first-order determinant of payout policy because it induces them to over-retain resources to invest in dubious projects and so behavioral biases may, in fact, turn out to be more important than agency costs in explaining why investors pressure firms to accelerate payouts; the influence of controlling stockholders on payout policy --- particularly in non-U.S. firms, where controlling stockholders are common --- is a promising area for future research. Corporate Payout Policy is required reading for both researchers and practitioners interested in understanding this central topic in corporate finance and governance.
At last count, nearly 2,400 people can claim that their lives were saved by a U.S. submarine during World War II. Of that number, 523 Allied aviators could claim that distinction after crashing their aircraft into the sea and being saved by a submarine operating in the "Lifeguard League." The remaining number were a collection of other military and civilian personnel, each with a story to tell and now able to tell their grand-children. Some of those rescued went on to retire as senior military officers including U.S. Navy Admirals, some back to missionary work, some to manage large companies in later years, some to philanthropic endeavors to pay everyone back for saving their lives. Appendix A is an intensely-researched index of nearly 2,200 names of those saved.
Now in its Fifth Edition, Crofton and Douglas's Respiratory Diseases has firmly established itself as the leading clinical textbook on diseases of the chest. Presented, for the first time, as a two-volume set, this classic text has been completely rewritten and greatly expanded. Extensive revisions ensure that these volumes present an up-to-date review of all aspects of lung disease . The contributions of some 18 leading authorities ensure that each area is comprehensively covered and new to this edition are chapters on the genetics of lung disease, smoking, air pollution, sleep apnoea, diving, lung transplantation and medico-legal aspects. The changes in content reflect the pace of change in the areas concerned not only in terms of understanding of the disease processes but also their treatment. The single chapter on asthma that appeared in previous editions, has now been expanded into three chapters covering epidemiology, mechanisms and management, reflecting the enormous research effort currently underway following a marked increase in the incidence of this disease in recent years. This new edition continues to provide an excellent reference both for the trainee and specialist in respiratory medicine, as well as the general physician. It will be extremely useful on the ward and in the office, where clinical problems arise and questions are asked which need clear answers.
This text analyzes the molecular mechanisms, chemical behaviour and regulation of iron transport in biological systems and offers novel methods for the assessment of iron transport across biological membranes. It details the characteristics and consequences of iron deficiency and excess to prevent diseases affecting major organ structures and promote bodily iron homeostasis.
Over the last 200 years our view of the world has been revolutionized.' Advances in geology and palaeontology, and in scientific techniques, over the past few centuries has led to a radical rethinking of our assumptions about our past.
Dr. Braunwald's masterwork returns ... bringing you the definitive guidance you need to overcome any challenge in clinical cardiology today, using the best approaches available! Hundreds of world authorities, many of them new to this edition, synthesize all of the recent developments that are revolutionizing practice - from the newest findings in molecular biology and genetics to the latest imaging modalities, interventional procedures, and medications. This multimedia e-dition includes not only the printed reference, but also access to the complete contents online, fully searchable, with regular updates and much more. The expertise of the contributors, the scope of the coverage, and the versatile, multimedia format all make this the ultimate reference for the practicing cardiologist. Locate the answers you need fast, thanks to a user-friendly, full-color design, complete with more than 1,500 color illustrations. Glean clinically actionable information quickly with Clinical Practice Points in every chapter. Access the complete contents of the 2-volume set online, fully searchable, plus regular updates to reflect the latest clinical developments · Focused Reviews · Commentaries · Late-Breaking Trials · and more. Apply the latest knowledge in your field with 7 new chapters on Acute Heart Failure · Device Therapy of Heart Failure · Emerging Therapies for Heart Failure · Complementary and Alternative Approaches to Management · Prevention and Management of Stroke · Hypertrophic Cardiomyopathy · and Coronary Arteriography Guidelines. Get fresh perspectives on your practice with contributions from more than 20 brand-new authors.
Cardiac Electrophysiology: From Cell to Bedside defines the entire state of current scientific and clinical knowledge in this subspecialty. In response to the many major recent developments in the field, Drs. Zipes and Jalife have completely updated this modern classic, making the 5th Edition the most significant revision yet. From our latest understanding of ion channels, molecular genetics, and cardiac electrical activity through newly recognized syndromes, unique needs of special patient populations, and new diagnostic and therapeutic options, you'll find all the state-of-the-art guidance you need to make informed, effective clinical decisions. What's more, a significantly restructured organization, a new full-color layout, and full-text online access make reference easier than ever. Integrates the latest scientific understanding of arrhythmias with the newest clinical applications, giving you an informed basis for choosing the right treatment and management options for each patient. Synthesizes the knowledge of preeminent authorities in cardiology, physiology, pharmacology, pediatrics, biophysics, pathology, cardiothoracic surgery, and biomedical engineering from around the world, giving you a well-rounded, expert grasp of every issue that affects your patient management. Contains 24 new chapters (listed below) as well as exhaustive updates throughout, to keep you current with new scientific knowledge, newly discovered arrhythmia syndromes, and new diagnostic and therapeutic techniques. Developmental Regulation of Cardiac Ion Channels Neural Mechanisms of Initiating and Maintaining Arrhythmias Single Nucleotide Polymorphisms and Acquired Cardiac Arrhythmias Inheritable Sodium Channel Diseases Inheritable Potassium Channel Diseases Inheritable Diseases of Intracellular Calcium Regulation Morphological Correlates of Atrial Arrhythmias Andersen-Tawil Syndrome Timothy Syndrome Progressive Cardiac Conduction Disease Sudden Infant Death Syndrome Arrhythmias in Patients with Neurologic Disorders Autonomic Testing Cardiac Resynchronization Therapy Energy Sources for Catheter Ablation Linear Lesions to Ablate Atrial Fibrillation Catheter Ablation of Ventricular Arrhythmias in Patients with Structural Heart Disease Catheter Ablation of Ventricular Arrhythmias in Patients without Structural Heart Disease Catheter Ablation in Patients with Congenital Heart Disease Features a completely new section on "Arrhythmias in Special Populations" that explores arrhythmias in athletes ... gender differences in arrhythmias ... arrhythmias in pediatric patients ... and sleep-disordered breathing and arrhythmias. Offers an attractive new full-color design featuring color photos, tables, flow charts, ECGs, and more, making clinically actionable information easy to find and absorb at a glance. Includes full-text online access via Expert Consult, making reference easier for busy practitioners.
In his illuminating new book, Douglas McWilliams argues that inequality is largely driven not by a conspiracy of the rich, as Thomas Piketty suggests, but by technology and globalization tat have led to the paradox of rising inequality even as worldwide poverty drops. But what are the implications of this seeming contradiction, and what ultimately drives the global distribution of wealth? What can societies do to reshape capitalism for the 21st century? Drawing on the latest research, McWilliams investigates how wealth is concentrated and why it persistently remains in the hands of very few. In accessible and thought-provoking prose, McWilliams poses a comprehensive theory on why capitalism has not met its match in the form of increasingly disparate income distribution, but warns of the coming wave of technological development—the fourth industrial revolution—that threatens to create a scarcity of unskilled jobs that will lead to even greater inequality and explains what governments can do to prepare for this.From the inquisitive layperson to the professional economist or policymaker, The Inequality Paradox is essential reading for understanding the global economy in its present state. McWilliams is a fresh, authoritative voice entering the global discussion, making this book indispensable in preparing for the imminent economic challenges of our changing world.
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