title: Do Golden Parachutes increase CEO’s DESIRE to be taken over? empirical evidence from australia and united states

authors: Reddy, Krishna

subjects: change in control payments

abstract: This study investigates whether the large payouts that are available to Chief Executive Officers (CEOs) from a change in corporate control (takeover) do motivate some CEOs to seek acquisition of their firms by making them more attractive to a takeover bid. Using Australian and the US data, employing OLS regression, we report that there is a significant relationship between a CEOs change in control payments and their firm’s net cash levels (one of the key factors of takeover attractiveness). Our empirical results also indicate that CEOs desire their firms to be acquired by decreasing shareholders’ equity, thus supporting the view that change in control payments exist primarily for incumbent managers. Our findings provide support to the proposition that managers enjoy having large cash balances to be available to them as it allows them with greater opportunities to derive personal benefit from it. Therefore, our findings suggest that managers prefer to have large cash balances available to them to ensure their future wellbeing by setting up favourable terms in the control agreements.

text: Do Golden Parachutes increase CEO’s DESIRE to be taken over? empirical evidence from australia and united states This study investigates whether the large payouts that are available to Chief Executive Officers (CEOs) from a change in corporate control (takeover) do motivate some CEOs to seek acquisition of their firms by making them more attractive to a takeover bid. Using Australian and the US data, employing OLS regression, we report that there is a significant relationship between a CEOs change in control payments and their firm’s net cash levels (one of the key factors of takeover attractiveness). Our empirical results also indicate that CEOs desire their firms to be acquired by decreasing shareholders’ equity, thus supporting the view that change in control payments exist primarily for incumbent managers. Our findings provide support to the proposition that managers enjoy having large cash balances to be available to them as it allows them with greater opportunities to derive personal benefit from it. Therefore, our findings suggest that managers prefer to have large cash balances available to them to ensure their future wellbeing by setting up favourable terms in the control agreements.

year: 2012

title: Cardigan: SDN distributed routing fabric going live at an Internet exchange

authors: Stringer, Jonathan

abstract: Software Defined Networking (SDN) is an active area for network research, with many organizations exploring the opportunities provided by the decoupling of network control from packet forwarding. However, questions remain over the operation of such systems in production. In order to build operational confidence, we built Cardigan -a distributed router using OpenFlow-and deployed it at a public Internet exchange. Cardigan applies a routing as a service abstraction to a RouteFlow controlled IP network in an effort to reduce operational complexity. The implementation and deployment efforts provide insights into the challenges involved with using these technologies, and suggests the viability of mixed device environments despite the limitations of early OpenFlow implementations.

text: Cardigan: SDN distributed routing fabric going live at an Internet exchange Software Defined Networking (SDN) is an active area for network research, with many organizations exploring the opportunities provided by the decoupling of network control from packet forwarding. However, questions remain over the operation of such systems in production. In order to build operational confidence, we built Cardigan -a distributed router using OpenFlow-and deployed it at a public Internet exchange. Cardigan applies a routing as a service abstraction to a RouteFlow controlled IP network in an effort to reduce operational complexity. The implementation and deployment efforts provide insights into the challenges involved with using these technologies, and suggests the viability of mixed device environments despite the limitations of early OpenFlow implementations.

year: 2014

title: Keynote address: Dr. Catherine Love

authors: Love, Catherine

subjects: Maori

abstract: This keynote address for the National Māori Graduates of Psychology Symposium 2002 addresses the history and current state of psychology in New Zealand, with particular attention to issues affecting Maori.

text: Keynote address: Dr. Catherine Love This keynote address for the National Māori Graduates of Psychology Symposium 2002 addresses the history and current state of psychology in New Zealand, with particular attention to issues affecting Maori.

year: 2003