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It is vital for astronauts to develop effective countermeasures to prevent their decline of cognitive performance in microgravity to make space-flight missions successful. The traditional Chinese herbal formula Kai Xin San (KXS) has been used to treat amnesia for thousands years. It is a traditional complex prescription comprising of ginseng (Panax ginseng C. A. Meyer), hoelen (Poria cocos (Schw.)...
The connection between managerial turnover and switching costs is studied within a model under conditions of declining performance. Utilizing the online decision theory, this paper characterizes optimal managerial turnover policies as a function of the time series properties of performance measure and switching costs. When the owner of an enterprise, e.g. stockholder, is risk aversion, we provide...
The traditional principal agent relationship is studied under the agent's rationality and ability homogeneity. In fact, agent's behaviors are affected by their psychological bias, and there exists heterogeneity in the agent's abilities, which can affect the firm output. Thus, the agent's ability and overconfidence bias are introduced into the principal agent relationship. Through the optimal contracts...
Many argues that the surest route to strategy turnaround involves managerial turnover, yet little guidance is available for deciding exactly when CEOs should be replaced and who should succeed them. This article offers suggestions for decision makers (i.e., the board) who must deal with a business's continuing poor performance by determining whether the current CEO or a replacement should lead a turnaround...
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