Printed from https://ideas.repec.org/s/bla/jacrfn4.html
Content
January 2010, Volume 22, Issue 1
- 43-58 The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems
by Michael C. Jensen - 59-63 Just Say No to Wall Street: Putting a Stop to the Earnings Game
by Joseph Fuller & Michael C. Jensen - 64-76 CEO Incentives—It's Not How Much You Pay, But How
by Michael C. Jensen & Kevin J. Murphy - 77-85 Active Investors, LBOs, and the Privatization of Bankruptcy
by Michael C. Jensen - 86-98 Venture Capital in Canada: Lessons for Building (or Restoring) National Wealth
by Reuven Brenner & Gabrielle A. Brenner - 99-106 How to Tie Equity Compensation to Long‐Term Results
by Lucian A. Bebchuk & Jesse M. Fried - 107-118 Executive Compensation: An Overview of Research on Corporate Practices and Proposed Reforms
by Michael Faulkender & Dalida Kadyrzhanova & N. Prabhala & Lemma Senbet - 119-128 Promotion Incentives and Corporate Performance: Is There a Bright Side to “Overpaying” the CEO?
by Jayant R. Kale & Ebru Reis & Anand Venkateswaran - 129-136 Are Incentives the Bricks or the Building?
by Ron Schmidt
September 2009, Volume 21, Issue 4
- 8-16 The Global Financial Crisis and the Efficient Market Hypothesis: What Have We Learned?
by Ray Ball - 17-27 Contingent Capital vs. Contingent Reverse Convertibles for Banks and Insurance Companies
by Christopher L. Culp - 28-51 International Insurance Society Roundtable on Risk Management After the Crisis
by Geoffrey Bell & Prem Watsa & Bijan Khosrowshahi & Brian Duperreault & Nikolaus Von Bomhard - 52-59 Lessons from the Financial Crisis on Risk and Capital Management: The Case of Insurance Companies
by Neil A. Doherty & Joan Lamm‐Tennant - 60-78 The Theory and Practice of Corporate Risk Management
by Henri Servaes & Ane Tamayo & Peter Tufano - 79-88 Measuring the Contributions of Brand to Shareholder Value (and How to Maintain or Increase Them)
by John Gerzema & Ed Lebar & Anne Rivers - 89-96 Creating Value Through Best‐In‐Class Capital Allocation1
by Marc Zenner & Tomer Berkovitz & John H.S. Clark - 97-103 Using Corporate Inflation Protected Securities to Hedge Interest Rate Risk
by L. Dwayne Barney & Keith D. Harvey - 104-114 The Gain‐Loss Spread: A New and Intuitive Measure of Risk
by Javier Estrada - 115-124 Assessing the Value of Growth Option Synergies from Business Combinations and Testing for Goodwill Impairment: A Real Options Perspective
by Francesco Baldi & Lenos Trigeorgis
June 2009, Volume 21, Issue 3
- 8-20 The Future of Private Equity
by Steve Kaplan - 21-27 Operational Improvement: The Key to Value Creation in Private Equity
by Gary Matthews & Mark Bye & James Howland - 28-37 Is There One Best Way to Sell a Company? Auctions Versus Negotiations and Controlled Sales1
by Audra L. Boone & J. Harold Mulherin - 38-52 Bankruptcy as an Auction Process: Lessons from Sweden
by B. Espen Eckbo & Karin S. Thorburn - 53-64 Post‐Chapter 11 Bankruptcy Performance: Avoiding Chapter 22
by Edward I. Altman & Tushar Kant & Thongchai Rattanaruengyot - 65-79 Historic Changes in the High Yield Bond Market
by Frank K. Reilly & David J. Wright & James A. Gentry - 80-85 New Insights into Rights Offerings as Signals of Firm Quality: Evidence from Australia
by Balasingham Balachandran & Robert Faff & Michael Theobald - 86-94 Currency Denomination of Intercompany Debt and Multinational Taxes
by Thomas J. O'Brien - 95-106 Pricing Final Indemnification Payments to Private Sponsors in Project‐Financed Public‐Private Partnerships: An Application of Real Options Valuation
by Stefano Caselli & Stefano Gatti & Antonio Marciante
March 2009, Volume 21, Issue 2
- 8-35 Life Sciences Roundtable: Strategy and Financing
by Judy Lewent & Joe Fuller & David Scharfstein & Rick Passov & Cathrin Petty & Charles Simmons & Jeff Greene & Pete Crnkovich & Carolyn Buck Luce - 36-48 The Elusive Underpinnings of U.S. Venturesomeness (If Not Prosperity)
by Amar Bhidé - 49-57 Specific Knowledge and Divisional Performance Measurement
by Michael C. Jensen & William H. Meckling - 58-66 Using Organizational Architecture to Lead Change
by James Brickley & Clifford Smith & Jerold Zimmerman & Janice Willett - 67-73 Driving Performance Through Corporate Culture: Interviews with Four Experts
by Robert Gandossy & Rajeev Peshawaria & Leslie Perlow & Fons Trompenaars & Daisy Wademan Dowling - 74-86 EVA Momentum: The One Ratio That Tells the Whole Story
by Bennett Stewart - 87-92 Why Capital Efficiency Measures Are Rarely Used in Incentive Plans, and How to Change That
by Stephen F. O'Byrne & S. David Young - 93-99 The Hybrid Option: A New Approach to Equity Compensation
by Marc Hodak - 100-109 The Economics of Wind Energy
by John Martin & Doug Ramsey - 110-118 Shareholder Value Maximization—Is There a Role for Corporate Social Responsibility?
by John Martin & William Petty & James Wallace
January 2009, Volume 21, Issue 1
- 8-23 The Venturesome Economy: How Innovation Sustains Prosperity in a More Connected World
by Amar Bhidé - 24-27 Whither Capitalism?
by Stephen S. Roach - 28-33 Financial Economists Roundtable Statement on Reforming the Role of the Rating “Agencies” in the Securitization Process
by Richard J. Herring & Edward J. Kane - 34-44 Brazil's Experiment with Corporate Governance
by Gonzalo A. Chavez & Ana Cristina Silva - 45-56 Private Equity vs. PLC Boards in the U.K.: A Comparison of Practices and Effectiveness
by Viral V. Acharya & Conor Kehoe & Michael Reyner - 57-66 Corporate Governance and Labor Relations
by E. Han Kim - 67-78 Does Board Independence Matter in Companies with a Controlling Shareholder?
by Jay Dahya & Orlin Dimitrov & John J. McConnell - 79-86 Designing a U.S. Market for CO2
by John E. Parsons & A. Denny Ellerman & Stephan Feilhauer - 87-89 Corporate Insurance and Debt: The Case of China
by Hong Zou & Mike B. Adams - 90-95 Thinking Like Adam Smith
by Jerry Z. Muller
September 2008, Volume 20, Issue 4
- 8-19 The Contributions of Stewart Myers to the Theory and Practice of Corporate Finance
by Franklin Allen & Sudipto Bhattacharya & Raghuram Rajan & Antoinette Schoar - 39-48 Risk Management Failures: What Are They and When Do They Happen?
by René M. Stulz - 49-57 Brealey, Myers, and Allen on Valuation, Capital Structure, and Agency Issues
by Richard A. Brealey & Stewart C. Myers & Franklin Allen - 58-71 Brealey, Myers, and Allen on Real Options
by Richard A. Brealey & Stewart C. Myers & Franklin Allen - 72-85 Equity Issues and the Disappearing Rights Offer Phenomenon
by B. Espen Eckbo - 86-97 Can Companies Use Hedging Programs to Profit from the Market? Evidence from Gold Producers
by Tim R. Adam & Chitru S. Fernando - 98-104 Corporate Leverage and Specialized Investments by Customers and Suppliers
by Jayant R. Kale & Husayn Shahrur - 105-109 Estimating Risk‐Adjusted Costs of Financial Distress
by Heitor Almeida & Thomas Philippon
June 2008, Volume 20, Issue 3
- 8-21 Private Equity, Corporate Governance, and the Reinvention of the Market for Corporate Control
by Karen H. Wruck - 22-34 Corporate Cash Policy and How to Manage it with Stock Repurchases
by Amy Dittmar - 35-57 The Rise of Accelerated Seasoned Equity Underwritings
by Bernardo Bortolotti & William Megginson & Scott B. Smart - 58-67 Re‐equitizing Corporate Balance Sheets: Choosing Among the Alternatives
by Jason Draho - 68-75 SPACs: An Alternative Wav to Access the Public Markets
by Robert Berger - 76-90 Competition and Cooperation among Exchanges: Effects on Corporate Cross‐Listing Decisions and Listing Standards
by Thomas J. Chemmanur & Jie He & Paolo Fulghieri - 91-99 Callable Bonds: Better Value Than Advertised?
by Andrew Kalotay - 100-106 BIG Writing: The Fundamental Discipline of Business Writing
by Michael Sheldon & Janice Willett
March 2008, Volume 20, Issue 2
- 32-45 Liquidity, the Value of the Firm, and Corporate Finance
by Yakov Amihud & Haim Mendelson - 46-65 Real Asset Valuation: A Back‐to‐basics Approach
by David Laughton & Raul Guerrero & Donald Lessard - 66-78 Expected Inflation and the Constant‐Growth Valuation Model
by Michael Bradley & Gregg A. Jarrell - 79-83 Single vs. Multiple Discount Rates: How to Limit “Influence Costs” in the Capital Allocation Process
by John Martin & Sheridan Titman - 84-96 The Era of Cross‐Border M&A: How Current Market Dynamics are Changing the M&A Landscape
by Marc Zenner & Matt Matthews & Jeff Marks & Nishant Mago - 97-112 Transfer Pricing for Corporate Treasury in the Multinational Enterprise
by Stephen L. Curtis - 113-121 The Equity Market Risk Premium and the Valuation of Overseas Investments
by Luc Soenen & Robert Johnson - 122-128 Stock Option Expensing: The Role of Corporate Governance
by Sanjay Deshmukh & Keith M. Howe & Carl Luft - 129-143 Real Options Valuation: A Case Study of an E‐commerce Company
by Rocío Sáenz‐Diez & Ricardo Gimeno & Carlos De Abajo
December 2008, Volume 20, Issue 1
- 8-27 Brand India—Where Next? A Panel Discussion
by Nandan Nilekani & Andrew Heyward - 28-46 U.S. Corporate Governance: Accomplishments and Failings A Discussion with Michael Jensen and Robert Monks
by Ralph Walkling - 47-58 Changes in Korean Corporate Governance: A Response to Crisis
by E. Han Kim & Woochan Kim - 59-72 Corporate Governance in India
by Rajesh Chakrabarti & William Megginson & Pradeep K. Yadav - 73-83 Sovereign Wealth Funds: A Growing Global Force in Corporate Finance
by Shams Butt & Anil Shivdasani & Carsten Stendevad & Ann Wyman - 84-95 What Public Company Directors Should Know About Going Private
by Robert Kindler & James Gunderson - 96-108 The Corporate Social Responsibility (CSR) Trend
by Barbara Lougee & James Wallace - 109-120 Leadership Structure and Corporate Governance in Switzerland
by Markus M. Schmid & Heinz Zimmermann - 121-123 Who Charges More: Hedge Funds or Mutual Funds?
by Mark Kritzman - 124-134 Morgan Stanley's Approach to Assessing Credit Risks in the Microfinance Industry
by Miguel Arvelo & Ju‐Lie Bell & Christian Novak & Juliette Rose & Shally Venugopal
September 2007, Volume 19, Issue 4
- 2-3 A Message from the Editor
by Donald H. Chew - 8-15 Toward a New Corporate Reorganization Paradigm
by Donald S. Bernstein - 16-43 Morgan Stanley Roundtable on Managing Financial Trouble
by Edward Altman - 44-53 Private Equity: Boom and Bust?
by Viral V. Acharya & Julian Franks & Henri Servaes - 54-59 Statement of the Financial Economists Roundtable on the International Competitiveness of U.S. Capital Markets
by Franklin Edwards & Kenneth Scott - 60-74 What Companies Need to Know About International Cross‐Listing
by Michael R. King & Usha R. Mittoo - 75-81 Ten Common Misconceptions About Enterprise Risk Management
by John R. S. Fraser & Betty J. Simkins - 82-93 Choices and Best Practice in Corporate Risk Management Disclosure
by Ekaterina E. Emm & Gerald D. Gay & Chen‐Miao Lin - 94-106 How Banks Price Loans to Public‐Private Partnerships: Evidence from the European Markets
by Frederic Blanc‐Brude & Roger Strange - 107-114 Euro Membership as a Real Option Trigger: An Empirical Study of EU15 Manufacturing Firms
by Tom Aabo & Christos Pantzalis - 115-124 Lessons from the Financial Crisis of 1907
by Robert F. Bruner & Sean D. Carr
June 2007, Volume 19, Issue 3
- 8-16 Private Equity: Past, Present, and Future
by Steve Kaplan - 17-31 Global Debt Markets in 2007: New Paradigm or the Great Credit Bubble?
by Edward I. Altman - 32-41 The Return of the Recap: Achieving Private Equity Benefits as a Public Company
by Anil Shivdasani & Adrián Zak - 42-55 Share Repurchases and the Need for External Finance
by Matthew T. Billett & Hui Xue - 56-64 The New Wave of Hybrids—Rethinking the Optimal Capital Structure
by Kevin Ryan & Jonathan Ross & Jacqueline Yen - 65-73 The Influence of Credit Ratings on Corporate Capital Structure Decisions
by Darren J. Kisgen - 74-81 What is the Market Value of a Dollar of Corporate Cash?
by Lee Pinkowitz & Rohan Williamson - 82-89 Mind the Information Gap: Putting New Selection Criteria and Deal Structures to Work in M&A
by Roberto Ragozzino & Jeffrey J. Reuer - 90-95 Estimating the Cost of Risky Debt
by Ian A. Cooper & Sergei A. Davydenko - 96-108 How Good are Private Equity Returns?
by Robert M. Conroy & Robert S. Harris - 109-116 Big is Better: Growth and Market Structure in Global Buyouts
by Peter Cornelius & Broes Langelaar & Maarten Van Rossum - 117-124 The Convergence of Public and Private Equity Markets: Cyclical or Structural?
by Jason Draho
March 2007, Volume 19, Issue 2
- 38-49 The Case for Real Options Made Simple
by Raul Guerrero - 50-59 Valuing the Debt Tax Shield
by Ian Cooper & Kjell G. Nyborg - 60-71 Measuring Free Cash Flows for Equity Valuation: Pitfalls and Possible Solutions
by Juliet Estridge & Barbara Lougee - 72-77 Discount Rates in Emerging Markets: Four Models and An Application
by Javier Estrada - 78-87 Rail Companies: Prospects for Privatization and Consolidation
by James Runde - 88-94 A Real Option in a Jet Engine Maintenance Contract
by Richard L. Shockley - 95-104 A Practical Method for Valuing Real Options: The Boeing Approach
by Scott Mathews & Vinay Datar & Blake Johnson - 105-110 Accounting for Employee Stock Options and Other Contingent Equity Claims: Taking a Shareholder's View
by James A. Ohlson & Stephen H. Penman
January 2007, Volume 19, Issue 1
- 8-15 The Limits of Financial Globalization
by René M. Stulz - 16-24 Explaining Differences in the Quality of Governance Among Companies: Evidence from Emerging Markets
by Art Durnev & E. Han Kim - 25-41 The Revolution in Active Investing: Creating Wealth and Better and Better Governance
by David Haarmeyer - 42-54 Investment of Banking: Past, Present, and Future
by Alan D. Morrison & William J. Wilhelm - 55-73 The Evolution of Shareholder Activism in the United States
by Stuart L. Gillan & Laura T. Starks - 74-80 The State of U.S. Corporate Governance: An Interview with Chales Elson
by Charles Elson - 81-87 Cash Holdings, Dividend Policy, and Corporate Governance: A Cross‐Country Analysis
by Lee Pinkowitz & Rohan Williamson & René M. Stulz - 88-101 The ownership Structure, Governance, and Performance of French Companies
by Péter Harbula - 102-114 For Better Corporate Governance, The Shareholder Value Review
by Bartley J. Madden - 115-124 Microfinance—On the Road to Capital Markets
by Ian Callaghan & Henry Gonzalez & Diane Maurice & Christian Novak
September 2006, Volume 18, Issue 4
- 8-20 Enterprise Risk Management: Theory and Practice
by Brian W. Nocco & René M. Stulz - 21-33 Hedging and Value in the U.S. Airline Industry
by David A. Carter & Daniel A. Rogers & Betty J. Simkins - 34-43 Basel II: The Route Ahead or Cul‐de‐Sac?
by Richard Brealey - 44-52 Accounting and Valuation: How Helpful Are Recent Accounting Rule Changes?
by Bradford Cornell & Wayne R. Landsman - 53-53 A Note on XBRL and The Promise of “Modular” Accounting
by Mark Schnitzer & Campbell Pryde - 54-60 The Promise of Credit Derivatives in Nonfinancial Corporations (and Why It's Failed to Materialize)
by Charles Smithson & David Mengle - 61-75 How Does the Corporate World Cope with Mega‐Terrorism? Puzzling Evidence from Terrorism Insurance Markets
by Erwann Michel‐Kerjan & Burkhard Pedell - 76-80 Navigating in the Midst of More Uncertainty and Risk
by Jim Butcher & Nick Turner & Gerard Drenth - 81-90 Incorporating Strategic Risk into Enterprise Risk Management: A Survey of Current Corporate Practice
by Stephen Gates - 91-104 Managing M&A Risk with Collars, Earn‐outs, and CVRs
by Stefano Caselli & Stefano Gatti & Marco Visconti - 105-109 Risk Management and the Cost of Capital for Operating Assets
by Thomas J. O'Brien - 110-113 Reducing a Company's Beta—A Novel Way to Increase Shareholder Value
by Jeremy Gold
June 2006, Volume 18, Issue 3
- 38-55 Leveraged Buyouts in the U.K. and Continental Europe: Retrospect and Prospect
by Mike Wright & Luc Renneboog & Tomas Simons & Louise Scholes - 56-65 The Financial and Economic Lessons of Italy's Privatization Program
by William L. Megginson & Dario Scannapieco - 66-75 Canadian Business Trusts: A New Organizational Structure
by Paul Halpern & Oyvind Norli - 76-82 Public vs. Private Equity
by John J. Moon - 83-95 Avoiding the “Synergy Trap”: Practical Guidance on M&A Decisions for CEOs and Boards
by Mark L. Sirower & Sumit Sahni - 96-106 Demutualization and Public Offerings of Financial Exchanges
by Reena Aggarwal & Sandeep Dahiya - 107-117 Evidence on What CFOs Think About the IPO Process: Practice, Theory, and Managerial Implications
by James C. Brau & Stanley E. Fawcett
March 2006, Volume 18, Issue 2
- 28-39 The Role of Real Options in Capital Budgeting: Theory and Practice1
by Robert L. McDonald - 40-47 How Kimberly‐Clark Uses Real Options
by Martha Amram & Fanfu Li & Cheryl A. Perkins - 48-55 Handling Valuation Models
by Stephen H. Penman - 82-97 Expectations‐Based Management
by Tom Copeland & Aaron Dolgoff - 98-105 Incentives and Investor Expectations
by Stephen F. O'Byrne & S. David Young - 106-115 The Effect of “Private” and “Public” Risks on Oilfield Asset Pricing: Empirical Insights into the Georgetown Real Option Debate
by Gavin L. Kretzschmar & Peter Moles - 116-119 The Real Reasons Enron Failed
by Bennett Stewart - 120-131 Multinationals in the Middle Kingdom: Performance, Opportunities, and Risks
by David Glassman
March 2006, Volume 18, Issue 1
- 2-3 A Message from the Editor
by Dhc - 8-14 The Tax Consequences of Long‐Run Pension Policy
by Fischer Black - 15-24 Allocating Shareholder Capital to Pension Plans
by Robert C. Merton - 25-35 “De‐risking” Corporate Pension Plans: Options for CFOs
by Richard Berner & Bryan Boudreau & Michael Peskin - 36-53 An Investment Management Methodology for Publicly Held Property/Casualty Insurers
by William H. Heyman & David D. Rowland - 82-94 How Behavioral Finance Can Inform Retirement Plan Design1
by Olivia S. Mitchell & Stephen P. Utkus - 95-103 Risk Allocation in Retirement Plans: A Better Solution
by Donald E. Fuerst - 104-107 Defeasing Legacy Costs
by Richard Berner & Michael Peskin - 108-116 The Employer's Role in Reforming the U.S. Health Care System
by Kenneth L. Sperling - 117-125 Downside Risk in Practice
by Javier Estrada - 126-129 New Leadership at the Federal Reserve
by Charles I. Plosser
September 2005, Volume 17, Issue 4
- 2-3 A Message from the Editor
by Dhc - 8-23 Pay Without Performance: Overview of the Issues
by Lucian A. Bebchuk & Jesse M. Fried - 24-35 A Remedy for the Executive Pay Problem: The Case for “Compensation Discussion and Analysis”
by Jeffrey N. Gordon - 36-40 Developments in Remuneration Policy
by Alastair Ross Goobey - 41-43 Corporate Culture and the Problem of Executive Compensation
by Arthur Levitt - 44-63 Taking Shareholder Protection Seriously? Corporate Governance in the U.S. and Germany
by Theodor Baums & Kenneth E. Scott - 85-96 Takeover Defenses and Bargaining Power
by Guhan Subramanian - 97-104 Is U.S. CEO Compensation Broken?
by John E. Core & Wayne R. Guay & Randall S. Thomas - 105-114 Top Management Incentives and Corporate Performance
by Stephen O'Byrne & David Young - 115-124 Letting Go of Norm: How Executive Compensation Can Do Better Than “Best Practices”
by Marc Hodak - 125-133 Finance, Politics, and the Accounting for Stock Options
by Conrad Ciccotello & C. Terry Grant & W. Mark Wilder - 134-143 U.S. Family‐Run Companies–They May Be Better Than You Think
by Henry McVey & Jason Draho - 144-146 The Limits of Organizational Theory and Incentives (Or, Why Corporate Success Is Not Just About Money)
by Ronald Schmidt
June 2005, Volume 17, Issue 3
- 2-3 A Message from the Editor
by Dhc - 8-17 Does Risk Management Add Value? A Survey of the Evidence
by Charles Smithson & Betty J. Simkins - 18-31 The Uses and Abuses of Finite Risk Reinsurance
by Christopher L. Culp & J. B. Heaton - 62-75 The Rise and Evolution of the Chief Risk Officer: Enterprise Risk Management at Hydro One
by Tom Aabo & John R. S. Fraser & Betty J. Simkins - 76-86 Exposure‐Based Cash‐Flow‐at‐Risk: An Alternative to VaR for Industrial Companies
by Niclas Andrén & Håkan Jankensgård & Lars Oxelheim - 87-94 Exchange Rate Exposure of Exporting and Importing Firms
by Mahesh Pritamani & Dilip Shome & Vijay Singal - 95-101 A Proposal for Expensing Employee Compensatory Stock Options for Financial Reporting Purposes
by Peter Hancock & Roberto G. Mendoza & Robert C. Merton - 102-106 FAS 133: What Is Accounting Truth?
by Alex J. Pollock - 107-109 Statement 133: Not Perfect, but a Step in the Right Direction
by Jane Adams - 110-118 Capital Allocation in Financial Firms
by André F. Perold - 119-123 Risk Management, Risk Capital, and the Cost of Capital
by Neil A. Doherty - 124-136 Market Efficiency versus Behavioral Finance
by Burton Malkiel & Sendhil Mullainathan & Bruce Stangle
March 2005, Volume 17, Issue 2
- 8-16 Realizing the Potential of Real Options: Does Theory Meet Practice?
by Alexander Triantis - 17-31 Real Options Analysis: Where Are the Emperor's Clothes?
by Adam Borison - 32-51 Real Options: Meeting the Georgetown Challange
by Thomas E. Copeland & Vladimir Antikarov - 52-54 A Response to “Real Options: Meeting the Georgetown Challenge”
by Adam Borison - 55-67 Valuing Assets Using Real Options: An Application to Deregulated Electricity Markets
by Gregory P. Swinand & Carlos Rufin & Chetan Sharma - 68-81 The Challenge of Valuing Patents and Early‐State Technologies
by Martha Amram - 82-86 The Decline and Fall of Joint Ventures: How JVs Became Unpopular and Why That Could Change
by Dieter Turowski - 87-93 Managing Operational Flexibility in Investment Decisions: The Case of Intel
by Peter Miller & Ted O'Leary - 94-98 Taking Real Options Beyond the Black Box
by Simon Woolley & Fabio Cannizzo - 99-104 The Option Value of Acquiring Information in an Oilfield Production Enhancement Project
by Margaret Armstrong & William Bailey & Benoît Couët - 105-112 Value‐Based Management in Biosciences Research and Development
by Gill Eapen