In this paper, we examine timely loss reporting for U.S. firms with a dual-class share structure, i.e., firms characterized by a divergence (wedge) between insiders’ voting rights and cash flow rights. In our primary analysis, we find compelling evidence that the Shoes Nike Free 5.0 Men Light Gray White Authentic
wedge (quantified by excess voting rights) is associated with less timely loss reporting for these firms. In our secondary analysis, in which we match our sample of dual-class share observations with a sample of single-class share observations, we find similar results. Our paper informs public policy by showing that weakened outside shareholder rights matter, even in the U.S., where, despite a strong investor protection environment, dual-class firms are less Shoes Nike FS Lite Run Men Deep Blue Features timely in recognizing bad news in reported earnings.
Improving the accuracy of line segment detection reduces the complexity of subsequent high-level processing common in cartographic feature detection. We developed a new extension to the Hough transform and reported on its application to building extraction. We expanded the Hough space by a third parameter, the horizontal or vertical coordinate of the image space, to provide incremental information as to the length of the lineal feature being sought. Using this extended HT transform allowed us to more accurately detect the true length of a line segment. In addition, we used a Bayesian probabilistic approach to process our extended Hough space that further increased the accuracy of our extended Hough transform.