The Impact of Shareholder Litigation Risk on Equity Incentives: Evidence from a Quasi-Natural Experiment

While prior studies generally support that equity-based compensation induces CEOs to manipulate financial reporting, there is limited direct empirical evidence on whether financial misreporting concerns affect compensation design. A key challenge for establishing a causal relationship is that misreporting incentives and compensation policies are often endogenously determined. Exploiting the exogenous reduction in litigation threat following a 1999 ruling of the U.S. Ninth Circuit Court of Appeals, we examine how heightened misreporting concerns in a less litigious environment affect CEOs' compensation design. Consistent with the theoretical prediction that misreporting concerns prevent companies from providing more powerful incentive pay that is otherwise optimal, we find that firms headquartered in Ninth Circuit states decreased CEOs' equity portfolio vega relative to the control firms after the ruling. We further document that this reduction was concentrated among firms facing greater misreporting concerns post-ruling.

The Cluster approach to the formation of innovative susceptibility priorities within the framework of the Euroconcept «Green U-turn» to renewable energy in Ukraine

An article discusses the formation of innovative susceptibility of Ukrainian enterprises to the technologies of non-traditional renewable energy. The relevance of this problem is determined on the basis of the European concept of «Green U-turn», which is a logical continuation of the strategy «20-20-20» on the development of non-traditional renewable energy. The article proposes the use of a cluster approach to systematization, grouping and balancing general and specific factors that form the innovative susceptibility of Ukrainian enterprises to technologies of non-traditional renewable energy. The study is based on the expert information regarding stages of life cycles «production-consumption-utilization» of the various non-conventional renewable energy technologies, as well as the analytical information on publication activity as an important factor in the integral assessment of the priorities of energy-saving technologies. The estimates are formed taking into account the data on a sample of enterprises in Ukraine. The results of the study will serve as the basis for the formation of appropriate organizational and managerial clusters that allow enterprises to create an innovative product and thereby increase their competitiveness, which is a powerful incentive for national and regional development. Based on this integrated approach, it is possible to analyze factors both at regional level and at level specific enterprise.

Interpretation of Nonsense as a Method of Children Imagination Development (as exemplified in Carroll L. «Through the Looking-Glass and What Alice Found There»)

The article enlightens the probem of nonsense and its role in the development of creative thinking and fantasy, and the way how the interpretation of nonsense affects children imagination. The function of imagination inherent to a person, and especially to a child, has a powerful potential – to create artificially new metaphorical models, absurd and most incredible situations based on self-amazement. Children are able to measure the properties of unfamiliar objects with the properties of known things. It is not difficult for small researchers to replace incomprehensible meanings with familiar ones; to think over situations, to make analogies, to transfer signs and properties of one object to another. The problem of nonsense research is interesting and relevant. The element of the game is an integral component of nonsense. In the process of playing, children cognize the world, learn to interact with the world, imitating the adults behavior. Imagination and fantasy help the child to invent his own rules of the game, to choose language elements that best suit his ideas. The child uses the learned productive models of the language system to create their own models and their own language, attracting language signs: words, morphs, sentences. Children’s dictionary stimulates word formation and language nomination processes. Nonsense-words are the result of children’s dictionary, speech errors and occazional formations, presented in the form of contamination, phonetic transformations, lexical substitution, implemented on certain models. The first two models are phonetic imitation and hybrid speech, based on the natural language model. The third model of designing nonsense is represented by words that have no meaning at all and can be attributed to words-portmonaie. Due to the flexibility of interframe relationships and the lack of algorithmic thinking, children can not only capture the implicit similarity of objects and phenomena, but also create it through their imagination. Interpretation of nonsense is an effective method of developing imagination in children, because metaphors, nonsense as a means of creating new meanings, modeling new content from fragments of one’s own experience, are a powerful incentive for creative thinking.

Questions of dialectics in the heritage of Engels and Lenin. (On the 200th anniversary of the birth of F. Engels and the 150th anniversary from the birsday of V.I. Ulyanov (Lenin))

The article analyzes the contribution to the development of the theory of dialectics of two Marxists – F. Engels and V. I. Ulyanov (Lenin). It is noted that K. Marx, who materialistically rethought the dialectics of G.V.F. Hegel, applied it only to sociocultural reality and was not interested in ontological problems. Engels first turned to the development of the theory of dialectics in 1859 in his review of the book by Marx, «On the Critique of Political Economy». He began to work more thoroughly on the development of dialectics since 1873. He decided to compensate for the absence of ontological aspects of dialectics from Marx and apply dialectics to natural science, and indirectly to nature. Lenin thoroughly studied the theory of dialectics in the fall of 1914, studying Hegel’s Science of Logic. He managed to see in this work much that the Marxists had not noticed before him. The ideas formulated by him during this period served as a powerful incentive and help for the development of the theory of dialectics in Soviet philosophy, which, however, began only in the first half of the 1950s.

Conclusion: Sustainability

Throughout history, and particularly since World War II, American business has held a real and symbolic role in the world economy. The conclusion looks at the reasons behind this: an intermittently regulated business environment; a focus on innovation and regeneration and a comparative lack of stigma attached to failure; and the “American Dream” of democratic entrepreneurship, which has attracted new people and perspectives throughout history. While social and economic freedom is inaccessible to many, the idea of it has been a powerful incentive to encourage risk-taking people, from both America and around the world, to pursue opportunities in America—and enough have succeeded there to encourage others.

LEGAL REGULATION OF INTERNATIONAL COOPERATION OF THE RUSSIAN FEDERATION WITH FOREIGN COUNTRIES IN THE FIELD OF PHYSICAL EDUCATION AND SPORTS

The article studies the national and international legal framework for regulating relations in thefield of physical culture and sports. It has been established that studying and taking into account positiveforeign experience in effectively regulating relations arising in the field of physical culture and sports, forimproving the norms of national sports law, including for codifying the sports legislation of Russia, is oneof the important reasons for the development of international cooperation of the Russian Federation withforeign countries. Another important reason is the need to harmonize and unify the national legislation ofRussia in the field of physical culture and sports with international law. The development of international cooperation between Russia and foreign countries and international organizations in the direction ofensuring national security is especially relevant in the context of exerting pressure on Russian athletes in thepast decade at sports competitions and events of various levels. It is concluded that Russia needs to developall areas of international cooperation, since physical culture and sport at the national and internationallevels is an important tool for ensuring the sustainable socio-economic development of countries, a tool forpersonal development of a person, a tool for intercultural, partnership and friendly development of interstatecommunication and serves as a powerful incentive to increase the competitiveness of each country in thecontext of globalization.

N.I. Pirogov and his proverbial: «I believe in hygiene»

The great doctor, anatomist, surgeon, teacher, professor Nikolai Ivanovich Pirogov (1810-1881) glorified not only Russian medicine, but also Russia as a whole. His discoveries and achievements relate primarily to the anatomy and its topographic direction, surgery and its military field, the military medical administration is the organization of medical support for the army. The vast majority of scientific results were achieved by Professor N.I. Pirogov during his work at the Imperial Medical and Surgical Academy from December 1840 to July 1856. Among all his wonderful quotes and expressions, the words I believe in hygiene and The future belong to preservative medicine gained the most popularity. They were published in Russian in his fundamental work The Beginnings of General Military Field Surgery, Taken from Observations of Military Hospital Practice and Memoirs of the Crimean War and the Caucasian Expedition in 1865. For more than 150 years, these phrases continue to be quoted by doctors of many specialties. . The question of what meaning Nikolay Ivanovich invested in these winged words and served as the reason for this article. To understand the great scientists judgments, his words individuality and fatalism, which preceded these historical phrases, are analyzed. The sources of knowledge and experience of hygiene of the first half of the XIX century, which N.I. could use Pirogov since, until 1865, neither in Europe nor in Russia did hygiene acquire the status of an independent science, its provisions were based on empirical information received by doctors in both peacetime and wartime. With full confidence, it can be argued that the highest authority of N.I. Pirogov and his catch phrase I believe in hygiene served as a powerful incentive for the development of all hygiene science.

The Demographic Effects of Dodging the Vietnam Draft

This paper quantifies the impact of the Vietnam War on fertility rates in the late 1960s and early 1970s. For draft-eligible men wishing to avoid military service, the hardship deferment (III-A) for paternity created a powerful incentive to father a child. We provide a time series suggesting that the risk of being drafted and the availability of the paternity deferments significantly increased US fertility rates, especially among childless women likely to be partnered with draft-eligible men. Our results suggest caution in attributing the decline in fertility after 1970 solely to the legalization of abortion.

Denouncing child manipulation to produce sexualised imagery on YouTube

Over the last decade, a vast YouTube-based ‘market’ of child-produced content involving sexualised behaviour has developed. Children-performers produce videos featuring implicit sexual imagery to satisfy the demands of an adult fan base, and in exchange for a digital reward. We first report the discovery of several YouTube keywords leading to such content, outlining their remarkable interconnectedness via analysis of search trends over the last decade. Following, we investigate audience-child interactions by semantic analysis of n=1398 comments mined from n=30 videos, revealing the occurrence of collective grooming. We then demonstrate how this phenomenon is sustained and enhanced by YouTube search algorithms. Following, we detail a model framework to contextualise our findings. Finally, we propose specific amendments to the 2018 Online Harms White Paper that might tackle this phenomenon. Our results reveal a new form of child abuse, as of yet undescribed, wherein the core features of online grooming are translated to social media, the fundamental principles of which act as a powerful incentive. Because the victim’s manipulation is enacted collectively, we believe that responsibility ultimately rests with society as a whole. The principal aim here is to raise awareness of this issue, in an attempt to kick-start discussion of its causes, implications and potential solutions.

Effects of Transport and Lairage on the Skin Damage of Pig Carcasses

Transport and associated handling can have adverse effects on pig welfare. The transport of fattening pigs can cause economic losses by virtue of mortality, skin damage, and the general deterioration of meat quality. A total of 4507 fattening pigs were transported from a farm to a commercial slaughterhouse (distance 110 km) in 128 transports. Skin damage was visually assessed in the slaughter line in different parts of the carcass, i.e., shoulder, middle, and ham, using a 4-point scale. The incidence of skin damage was most prevalent (31%) in the shoulder region of the pig carcass. Sex, wind velocity, regrouping, transport combination, transport compartment, lairage time, and ham angle affected the skin damage incidence. In conclusion, scoring the incidence of skin damage is an indicator of the level of welfare exercised during transport and the slaughterhouse conditions. Furthermore, skin damage monitoring can be used to determine critical control points in the transport procedure. Given the importance from both a commercial and welfare perspective, it should be a powerful incentive to handle fattening pigs with care during the transport process and the lairage period.