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Showing papers on "Proxy (statistics) published in 2001"


Journal ArticleDOI
TL;DR: The formula for estimating an individual's life span given the frailty index value is presented and it is proposed that it may be used as a proxy measure of aging.
Abstract: This paper develops a method for appraising health status in elderly people. A frailty index was defined as the proportion of accumulated deficits (symptoms, signs, functional impairments, and laboratory abnormalities). It serves as an individual state variable, reflecting severity of illness and proximity to death. In a representative database of elderly Canadians we found that deficits accumulated at 3% per year, and show a gamma distribution, typical for systems with redundant components that can be used in case of failure of a given subsystem. Of note, the slope of the index is insensitive to the individual nature of the deficits, and serves as an important prognostic factor for life expectancy. The formula for estimating an individual's life span given the frailty index value is presented. For different patterns of cognitive impairments the average within-group index value increases with the severity of the cognitive impairment, and the relative variability of the index is significantly reduced. Finally, the statistical distribution of the frailty index sharply differs between well groups (gamma distribution) and morbid groups (normal distribution). This pattern reflects an increase in uncompensated deficits in impaired organisms, which would lead to illness of various etiologies, and ultimately to increased mortality. The accumulation of deficits is as an example of a macroscopic variable, i.e., one that reflects general properties of aging at the level of the whole organism rather than any given functional deficiency. In consequence, we propose that it may be used as a proxy measure of aging.

1,900 citations


Journal ArticleDOI
TL;DR: This paper examined the use of foreign currency derivatives (FCDs) in a sample of 720 large U.S. nonfinancial firms between 1990 and 1995 and its potential impact on firm value using Tobin's Q as a proxy for firm value.
Abstract: This article examines the use of foreign currency derivatives (FCDs) in a sample of 720 large U.S. nonfinancial firms between 1990and 1995 and its potential impact on firm value. Using Tobin’s Q as a proxy for firm value, we find a positive relation between firm value and the use of FCDs. The hedging premium is statistically and economically significant for firms with exposure to exchange rates and is on average 4.87% of firm value. We also find some evidence consistent with the hypothesis that hedging causes an increase in firm value.

770 citations


Patent
28 Feb 2001
TL;DR: In this paper, the authors present a method and system supporting location-based services for a mobile electronic device that supports multiple wireless communication technologies, where the mobile device contains a resource proxy for dynamically storing a set of resources that are available to the electronic device and that are location specific.
Abstract: A method and system supporting location based services for a mobile electronic device that supports multiple wireless communication technologies. The mobile device contains a resource proxy for dynamically storing a set of resources that are available to the electronic device and that are location specific, e.g., accessible via a point that is near the electronic device. The resource proxy contains a resource table recording the available resources and a gateway table indicating a pathway for reaching the data. The resource proxy definitions are technology independent with respect to the communication mechanisms required to obtain the data. Resources are added to the resource proxy via a resource discovery mechanism automatically performed by the mobile device. Multiple network gateways can be defined and each is responsible for requesting and retrieving information for the resource proxy. Network gateways are coupled to network interfaces which provide the logic required to perform wireless communication using particular communication mechanisms, e.g., Bluetooth or wireless LAN, etc. Applications interface with the resource proxy using technology independent commands in order to obtain information from the available resources recorded in the resource proxy. Using the system of the invention, available resources for a particular location are collected via a single process/database on the mobile device and presented to the applications in a uniform way.

196 citations


Journal ArticleDOI
TL;DR: The importance of considering the information source of a patient's HRQoL is indicated, however, assessments by proxies should be used with caution.
Abstract: Agreement between self reports and proxy reports of health-related quality of life (HRQoL) was examined in a sample of 76 patients with mild to moderate Alzheimer's disease and their proxies. Patients and proxies completed an (17-item Duke health profile). The items were rephrased for the proxy. The proportion of exact agreement between patients and proxies on the 17 items ranged from 26.3 to 52.6%. Results reveal poor to moderate agreement (intraclass correlation coefficients (ICCs) from 0.00 to 0.61 for 10 subscales) between patients' and proxies' reports. Agreement was higher for measures of function that are directly observable (physical health, disability) and relatively poor for more subjective measures. Proxy reliability varied according to the relationship of the proxy to the index subject. Spouses and nurses agreed more closely with index subjects than did children or nurses' aides. Agreement decreased with increasing severity of dementia. Statistically significant differences in mean scores were noted for several dimensions, with proxies tending to rate the patients as having a lower quality of life than the patients themselves. This study indicates the importance of considering the information source of a patient's HRQoL. However, assessments by proxies should be used with caution.

187 citations


Journal ArticleDOI
TL;DR: In general, agreement and reliability of proxy responses to the PWD tended to be best for relatives, with friends lower, and health care proxies lowest, and individual measures vary from these general results.
Abstract: Objectives: Research and surveillance activities sometimes require that proxy respondents provide key exposure or outcome information, especially for studies of people with disability (PWD). In this study, we compared the health-related quality of life (HRQoL) responses of index PWD to proxies. Methods: Subjects were selected from nursing home, other assisted living residences, and from several clinic samples of PWD. Each index identified one or more proxy respondents. Computer-assisted interviews used a random order of measures. Proxy reliability was measured by intraclass correlation (ICC) and κ statistics. HRQoL measures tested included the surveillance questions of the Behavioral Risk Factor Surveillance System (BRFSS), basic and instrumental activities of daily living (ADLs and IADLs), medical outcomes study short-form 36 and 12 (SF-36 and SF-12). Results: A total of 131 index-proxy sets were completed. In general, agreement and reliability of proxy responses to the PWD tended to be best for relatives, with friends lower, and health care proxies lowest. For example, the ICC for the physical functioning scale of the SF-36 was 0.68 for relatives, 0.51 for friends, and 0.40 for healthcare proxies. There was a tendency for proxies to overestimate impairment and underestimate HRQoL. This pattern was reversed for measures of pain, which proxies consistently underestimated. The pattern among instruments, proxy types, and HRQoL domains was complex, and individual measures vary from these general results. Conclusions: We suggest caution when using proxy respondents for HRQoL, especially those measuring more subjective domains.

181 citations


Patent
18 May 2001
TL;DR: In this paper, an improved proxy is disclosed for allowing click-through on an ad URL delivered on a web page within a Java® applet executing on a client machine, which caches cookie information for the browser, to support java applications that do not allow for planting of cookies directly.
Abstract: An improved proxy is disclosed for allowing click-through on an ad URL delivered on a web page within a Java® applet executing on a client machine. The proxy caches cookie information for the browser, to support java applications that do not allow for planting of cookies directly. When the user clicks on the ad URL, the proxy retrieves the relevant cookie and link information from a host side database, and uses the same to help the browser open the correct URL associated with the ad. The proxy acts to extend the reach and access of a conventional applet beyond the resources of a download host associated with such applet.

128 citations


Journal ArticleDOI
TL;DR: A new nonrepudiable threshold proxy signature scheme is proposed that overcomes the above weakness and is more efficient than Sun's in terms of computational complexities and communication costs.

111 citations


Patent
19 Apr 2001
TL;DR: In this paper, the authors describe a protocol that allows a client to communicate with a server even though multiple proxies that require different authentication data must be traversed to allow such communication.
Abstract: Methods, systems, computer program products and data structures are described which allow a client to communicate with a server even though multiple proxies that require different authentication data must be traversed to allow such communication. In operation, the client first authenticates to a first proxy using authentication data appropriate for the first proxy. The client then authenticates to a second proxy using different authentication data that is appropriate for the second proxy. This proxy authentication continues through as many proxies as necessary until the client is in communication with the server.

82 citations


Journal ArticleDOI
TL;DR: Preliminary findings indicate that for instructor-led, group physical activities such as aerobics classes, proxy efficacy perceptions are related to self-efficacy and may also be an important predictor of exercise behavior.
Abstract: The purpose of the study was to examine the relationship between perceptions of self-efficacy, proxy efficacy, and exercise class attendance of participants involved in a 10-week structured group fitness program. At week 3, 127 females completed measures of self-efficacy and proxy efficacy and their class attendance was monitored for the subsequent four weeks. Self-efficacy was assessed through measures of exercise, scheduling, and barrier self-efficacy. Proxy efficacy was assessed through a measure of fitness instructor efficacy defined as participants' confidence in their fitness instructors' communication, teaching, and motivating capabilities. Results revealed positive correlations between self-efficacy variables and proxy efficacy. Hierarchical multiple regression analyses indicated that among those who were classified as exercise initiates (n = 33), self-efficacy and proxy efficacy accounted for 34 percent of the variance in exercise class attendance with the latter variable explaining a unique 12 percent. Consistent with theorizing, these preliminary findings indicate that for instructor-led, group physical activities such as aerobics classes, proxy efficacy perceptions are related to self-efficacy and may also be an important predictor of exercise behavior.

78 citations


Proceedings ArticleDOI
22 Apr 2001
TL;DR: This paper models the speedup in average user response time for proxy cooperation and derives expressions for the upper bound, a mesh organization, and a hierarchical organization and parameterized using empirically determined hit rates and HTTP response times.
Abstract: Cooperating proxy caches are groups of HTTP proxy servers that share cached objects. This paper models the speedup in average user response time for proxy cooperation and derives expressions for the upper bound, a mesh organization, and a hierarchical organization. The expressions are parameterized using empirically determined hit rates and HTTP response times. Models account for overhead of different discovery mechanisms (ICP or metadata directory) and clarify the trade-off between discovery overhead and effectiveness. We find proxy cooperation to be only marginally viable when the sole criterion is average response time. By offering a choice of Web sites, however, proxy cooperation can potentially reduce the variability in response time, the number of pathologically long delays, and congestion near busy Web servers.

77 citations


Patent
20 Aug 2001
TL;DR: In this article, a system, method, and apparatus for duplicate address detection in a communication network includes a plurality of communication nodes and a proxy node, and the proxy node determines from the solicitation message whether the tentative interface address is allocated to another of the communication nodes.
Abstract: A system, method, and apparatus for duplicate address detection in a communication network includes a plurality of communication nodes and a proxy node. A particular one of the communication nodes generates a tentative interface address and transmits a solicitation message including the tentative interface address to the proxy node. After receiving the solicitation message, the proxy node determines from the solicitation message whether the tentative interface address is allocated to another of the communication nodes. If the proxy node determines that the tentative interface address has been allocated to another communication node, the proxy node sends a response message to the particular communication node.

Journal ArticleDOI
TL;DR: Clinical researchers should recognize that giving proxy consent might place additional burdens on caregivers and discuss this explicitly when proxy consent is solicited, because the nature of the patient's underlying medical condition can preclude the ability to make meaningful decisions.
Abstract: We examined the proxy decision-making and informed consent processes for clinical research involving 49 patient-subjects with dementia in an outpatient setting by performing serial in-depth, structured, open-ended telephone interviews. Interviews were tape recorded and transcribed. Transcripts were then coded and analyzed. Although in all cases proxy consent was obtained for research from a legally authorized representative, proxies reported considerable ambiguity regarding who made the decision to participate in research, or to what degree the decision was that of the proxy or of the patient. Reasons proxies gave for participating in research included: hope of direct or indirect benefits to the patient, caregiver, or patient's descendents; desperation; trust in the investigator; belief in the goodness of research; and altruism. These reasons varied according to the type of research. For instance, in drug trials hope of direct benefit prevailed; in studies not evaluating a potential therapy more altruistic concerns predominated. Being a proxy decision maker for research can be burdensome. The degree of burden related to making a decision to participate in research seems influenced by a number of intersecting factors, most importantly, the risk and nature of the study, the extent to which patients were able to participate in the decision, and the duration and severity of dementia. Proxy decision-making concerning participation in research for patients with dementia can be a difficult task. The process might be improved by emphasizing that proxy consent is being sought because the nature of the patient's underlying medical condition can preclude the ability to make meaningful decisions. In addition, clinical researchers should recognize that giving proxy consent might place additional burdens on caregivers and discuss this explicitly when proxy consent is solicited.

Patent
14 Dec 2001
TL;DR: In this paper, a method and system is disclosed for adding or removing functionality to a website through a proxy platform by which a user views the website, one such functionality is a checkout button (316) which a cyber wallet is accessed, relaying purchase information to the website where the information is used to automatically fill a merchant website purchase form.
Abstract: A method and system is disclosed for adding or removing functionality to a website through a proxy platform by which a user views the website. One such functionality is a checkout button (316) by which a cyber wallet is accessed, relaying purchase information to the website where the information is used to automatically fill a merchant website purchase form.

Patent
13 Apr 2001
TL;DR: In this paper, a method and system for representing and implementing a concept between two functional domains (e.g., programming languages, Figure 1,6 and 16) by using a proxy component in a first domain to wrap a component of a second domain is presented.
Abstract: A method and system for representing and implementing a concept between two functional domains (e.g., programming languages, Figure 1,6 and 16) by using a proxy component in a first domain (figure 1, 6) to wrap a component of a second domain (figure 1, 16), where the proxy component has a semantic usability in the first domain closely corresponding to the semantic usability of the underlying component from the second domain. Further, provided is a method and system for automatically generating such a proxy component. Such proxy components (figure 1, 8) may be used to gradually transform a digital entity (e.g., a software application) from a first digital domain to a second digital domain. Further, such proxy components may be generated using models that transform a component of a first domain to a component (e.g., a proxy component, figure 1, 8) of a second domain.

Posted Content
TL;DR: In this paper, the authors study how shareholders voted on proposals during the 1997 proxy season and provide a current perspective on shareholders' use of the proxy process to promote issues of corporate governance and social policy.
Abstract: Rule 14a-8 of the Securities Exchange Act of 1934, commonly referred to as the shareholder-proposal rule, allows shareholders to submit proposals for inclusion in a company's proxy materials. If the rule's procedures are followed, the company's shareholders will be asked to vote on the proposal at the company's next annual general meeting. By studying how shareholders voted on proposals during the 1997 proxy season, we provide a current perspective on shareholders' use of the proxy process to promote issues of corporate governance and social policy. Our focus on the 1997 proxy season permits an assessment of the potential impact of both the proposed rule changes and those that were actually adopted.

Patent
10 Oct 2001
TL;DR: In this article, a user (101) is connected to the Internet (110) by a proxy server (106) that impersonates the user, and the proxy automatically carries out the steps that would otherwise be carried out by the user(101).
Abstract: A user (101) is connected to the Internet (110) by a proxy server (106) that impersonates the user. Websites (110) are accessed by sending an HTTP request to the proxy server (110). The HTTP request is encoded with characters that are understood by the proxy (110) as requiring that the HTTP request be intercepted and either an identified script be executed or data within the request be extracted. The proxy automatically carries out the steps that would otherwise be carried out by the user (101). In one example, a user (101) checks a bank website for a balance inquiry. A first HTTP request includes a script identifier. The proxy (110) retrieves and executes the identified script, which in turn causes an HTTP response to be sent to the user's (101) browser for personal information. That personal information is returned to the proxy (110). The proxy accesses the bank website using the personal information to retrieve user (101) requested information.

Patent
27 Mar 2001
TL;DR: A common information model object manager (CIMOM) proxy as discussed by the authors is a proxy that serves to receive and transmit information from one computer on the network to another by registering both managed system providers and client applications to register with the proxy.
Abstract: A system, method and computer program for transmitting and receiving information between computer systems. This is accomplished using a common information model object manager (CIMOM) proxy that serves to receive and transmit information from one computer on the network to another. The CIMOM proxy relies on both managed system providers and client applications to register with the CIMOM proxy. Once registered the client application may request information and receive it from managed system providers.

Patent
10 Aug 2001
TL;DR: A distributed computing system with an improved architecture and methodology is capable of handling a wide range of dynamic groups of services where the makeup of the groups can be determined and changed while the application is running.
Abstract: A distributed computing system with an improved architecture and methodology which is capable of handling a wide range of dynamic groups of services where the makeup of the groups can be determined and changed while the application is running. This is mainly accomplished through a group proxy, which is generated at run time, and which handles interactions with groups of services on behalf of one or more clients. The group proxy consists of a group logic shell which contains all the group-aware logic, and a service proxy for each service in the group which contains the necessary logic to interact with the particular service. A grouping agent is also described which provides the group-aware logic for each service that participates in a group, as well as a group service which generates and updates the group proxy. The group service dynamically creates the group proxies for each group by adding the appropriate service proxies to a group logic shell and then registers the group proxies with a look-up service for use by clients. In the preferred embodiment of the invention, all the group-aware logic for a distributed computing application is provided in separate code modules, namely the group proxy, group service and grouping agent, thus relieving clients and services from providing this logic.

Patent
Simon D. Byers1
17 Dec 2001
TL;DR: In this paper, a system and method efficiently and anonymously retrieves large scale Web data through a restricted query interface, where a number of proxy servers are utilized to permit parallel access to a target Web server for processing multiple queries simultaneously.
Abstract: A system and method efficiently and anonymously retrieves large scale Web data through a restricted query interface. A number of proxy servers are utilized to permit parallel access to a target Web server for processing multiple queries simultaneously. Latency in the individual queries is absorbed by the proxy servers. Queries that would otherwise appear structured to the target server are assigned to the proxy server in a random fashion, obscuring the structured nature of the queries. The anonymous nature of the queries made by the proxy servers furthermore conceals the identity of the originating server.

Patent
05 Jun 2001
TL;DR: In this paper, the authors describe a system that allows users to communicate with networked embedded devices via a proxy service, where an embedded device searches for proxy services and requests a discovered proxy service to respond to client requests to the embedded device on behalf of the embedded devices.
Abstract: Systems, methods, and computer program products that can allow users to communicate with networked embedded devices via a proxy service are provided. An embedded device searches for a proxy service and requests a discovered proxy service to respond to client requests to the embedded device on behalf of the embedded device. Servicing client requests on behalf of an embedded device may include obtaining a response to client requests from other sources and/or tailoring responses for display via a client device making the client request to the embedded device.

01 Jan 2001
TL;DR: In this paper, a new data set for the turnover rate (TOR) of central bank governors for a very large sample of countries, which also covers the 1990s, was constructed.
Abstract: We analyse whether central bank independence (CBI) affects inflation in developing countries. For this purpose we have constructed a new data set for the turnover rate (TOR) of central bank governors for a very large sample of countries, which also covers the 1990s. We find that once various control variables are included, the CBI proxy is often not significant. We also conclude that in those regressions in which the CBI proxy is significant, the coefficient of the TOR becomes significant only after high inflation countries are added to the sample.

Posted Content
TL;DR: In this article, a new data set for the turnover rate (TOR) of central bank governors for a very large sample of countries, which also covers the 1990s, was constructed.
Abstract: We analyse whether central bank independence (CBI) affects inflation in developing countries. For this purpose we have constructed a new data set for the turnover rate (TOR) of central bank governors for a very large sample of countries, which also covers the 1990s. We find that once various control variables are included, the CBI proxy is often not significant. We also conclude that in those regressions in which the CBI proxy is significant, the coefficient of the TOR becomes significant only after high inflation countries are added to the sample.

Patent
06 Apr 2001
TL;DR: In this article, a system and method for enabling the efficient accessing of Java objects and methods by legacy GUIs is described, which provides a base proxy object that encapsulates JNI APIs necessary for calling Java methods across the JNI boundary.
Abstract: A system and method for enabling the efficient accessing of Java objects and methods by legacy GUIs is disclosed. The system and method provide a base proxy object that encapsulates the JNI APIs necessary for calling Java methods across the JNI boundary. Legacy proxy objects proxy the Java objects and enable legacy GUIs to issue method requests as if the legacy proxy objects were fully functional objects. The legacy proxy objects receive method requests from the GUIs and call base proxy object methods that in turn make the necessary JNI API calls to call Java methods.

Patent
03 Oct 2001
TL;DR: In this article, a method for enabling participants in an information technology (IT) system or a computer network to delegate user authority to other system participants is provided, which includes the generation of a proxy authorization.
Abstract: A method for enabling participants in an information technology (IT) system or a computer network to delegate user authority to other system participants is provided. The method of the present invention includes the generation of a proxy authorization. The proxy authorization, or proxy, is used by the IT system to insure that a given participant may have access to resources on the basis of a permission granted and intended by another user or agent of the IT system, and that the grantor of the permission is authorized to issue the access and/authorities as designated by or within the proxy authorization. A medical record repository, for example may allow unlimited access to particular individual patient records to an individual medical doctor. The doctor can then authorize a specific pharmacy to have limited access to designated portions of the medical records of certain of the patients to whom the doctor is authorized access. The pharmacy may then allow access to distinct and different subsets of the portions of the records, to which the pharmacy is authorized access to by a proxy issued by the doctor, to an insurance company, to a billing clerk, and to pharmacists. The use of proxies thereby allows for efficient B2B collaborative message processing using languages such as XML.

Patent
Afshin Abtin1, Olof Jansson1
22 Oct 2001
TL;DR: In this paper, a location privacy proxy is used to determine whether a location based service is allowed to position a user and the user retains the right to override the rejection of a location-based service requesting to position the user.
Abstract: A method and apparatus for controlling positioning of a user and the user's privacy related information on the mobile Internet includes a location privacy proxy which upon receipt of a request to position a user determines whether a location based service is allowed to position the user. The user retains the right to manually override the rejection of a location based service requesting to position the user.

Patent
30 Jan 2001
TL;DR: Proxy network address translation (PNAT) as discussed by the authors combines proxy server capability with NAT capability and performs address translation at a packet level of a stream of packets originating from a client and destined for a server.
Abstract: Proxy network address translation (PNAT) is disclosed, which combines proxy server capability with network address translation (NAT) capability. At a NAT component, address translation is performed at a packet level of a stream of packets originating from a client and destined for a server. The address translation redirects the packets to a proxy component, and masks the source of the packets. At the proxy component, filtering is performed at a stream level of the stream of packets. The proxy component transmits the packets to the server. A specific installed component is not required at clients for access through the PNAT. The PNAT retains the advantages of a proxy server, while retaining for the component-less nature of access of NAT.

Patent
29 Mar 2001
TL;DR: In this article, a broker matches a client request and an Internet service, and transmits metadata to the client enabling the client to locate the matched internet service communication proxy in an aspect, the client downloads the requested communication proxy and dynamically interacts, at runtime, with an internet service using the requested communications proxy.
Abstract: A method is provided for clients to locate and interact with Internet services fulfilling the clients needs In an aspect, a client requests, to a broker, a specific language/component technology (communication proxy), and an application-level transport protocol The broker matches a client request and an Internet service, and transmits metadata to the client enabling the client to locate the matched internet service communication proxy In an aspect, the client downloads the requested communication proxy and dynamically interacts, at runtime, with an Internet service using the requested communication proxy, the communication proxy being local to the client In an aspect, the client is relieved from having to develop a remote communications code

Patent
15 Aug 2001
TL;DR: In this paper, a bi-directional relationship manager is described for setting a new reference value for managing bi-irectional relationships between objects in an object model, which is based on the relationship information between objects having one or more relationships.
Abstract: A bi-directional relationship manager is described for setting a new reference value for managing bi-directional relationships between objects in an object model. The bi-directional relationship manager receives bi-directional relationship information indicating interrelation between objects having one or more bi-directional relationships. It creates proxy objects based on the bi-directional relationship information for selected bi-directional relationship objects having bi-directional relationships. A created proxy object receives a new reference value to be set in a selected object relating to a bi-directional relationship. It determines, using one or more of the proxy objects, a new peer value to be set in a peer object which has the bi-directional relationship with the selected object, and sets the new peer value to a proxy object created for the peer object. It may also update reference values of other related objects that are related to the selected object through one or more bi-directional relationships to reflect the change in references.

Proceedings ArticleDOI
31 Jan 2001
TL;DR: A distributed proxy server system in which multiple proxy servers are installed at geographically dispersed locations and share the workloads among themselves by serving mobile hosts within assigned regions to enable handoffs between proxies as the mobile hosts move between regions.
Abstract: The transcoding proxy strategy has been widely used as a means to reduce the delay in retrieving Web pages over wireless mobile data networks. However, this strategy has a serious drawback of being a potential point of failure or a bottleneck of the service. We developed a distributed proxy server system in which multiple proxy servers are installed at geographically dispersed locations and share the workloads among themselves by serving mobile hosts within assigned regions. A new handoff (HO) message protocol is proposed to enable handoffs between proxies as the mobile hosts move between regions. With this proxy server handoff protocol a client agent at the mobile host requests a proxy server to initiate handoff processing and two proxy servers synchronize distilled data for a HTTP session disconnected by the handoff.

Journal ArticleDOI
TL;DR: In this article, the authors focus on the takeover-deterrence effects of corporate liquidity and suggest the proxy contest as an effective alternative control mechanism for alleviating the excess liquidity problem.
Abstract: It is often suggested that the takeover market is appropriate for containing the agency problems of excessive corporate liquidity. However, recent work shows that this is not the case. This paper focuses on the takeover-deterrence effects of corporate liquidity and suggests the proxy contest as an effective alternative control mechanism for alleviating the excess liquidity problem. I find that firms targeted in a proxy fight hold 25% more cash than comparable firms not targeted, and that the probability of a contest is significantly increasing in excess cash holdings. Proxy fight announcement return also is significantly positively related to excess cash. Following a contest, executive turnover and special cash distributions to shareholders increase while cash holdings revert to normal levels.