Sample records for facilitating shareholder director

  1. 75 FR 56667 - Facilitating Shareholder Director Nominations


    ...', nominees for director. We believe that these rules will benefit shareholders by improving corporate suffrage, the disclosure provided in connection with corporate proxy solicitations, and communication... Communications E. Costs 1. Costs Related to Potential Adverse Effects on Company and Board Performance 2. Costs...

  2. Shareholders in the boardroom: Wealth effects of the SEC's proposal to facilitate director nominations

    Akyol, A.; Lim, W.F.; Verwijmeren, P.


    Current attempts to reform financial markets presume that shareholder empowerment benefits shareholders. We investigate the wealth effects associated with the Securities and Exchange Commission's rule to facilitate director nominations by shareholders. Our results are not in line with shareholder

  3. 76 FR 58100 - Facilitating Shareholder Director Nominations


    ...: Securities and Exchange Commission. ACTION: Final rule; notice of effective date. SUMMARY: This release provides notice of the effective date of the amendment to Exchange Act Rule 14a-8, the shareholder proposal rule, which will require companies to include in their proxy materials, under certain circumstances...

  4. 75 FR 64641 - Facilitating Shareholder Director Nominations


    ... ``smaller reporting companies'' (as defined in 17 CFR 240.12b-2) as of the effective date of the final rules...: Securities and Exchange Commission. ACTION: Final rule; notice of stay of effective and compliance dates...''), the effective and compliance dates of amendments to the federal proxy and related rules that the...

  5. Breach of duty: Power of shareholders to ratify directors fraudulent dealings

    Anthony O. Nwafor


    Full Text Available Company directors owe duty of loyalty to the company which prohibits them from fraudulent dealings in the course of conducting the affairs of the company. Although the shareholders could, in the exercise of their voting powers, grant relieves to the directors from liabilities arising from a breach of duty that amounts to fraud, the extent and capacity in which the shareholders could exercise such powers is confounded by the elusive attempts by the courts in defining fraud. The paper argues that without a definite meaning ascribed to fraud, the power and capacity in which the shareholders could ratify a breach of duty arising from self-dealing and expropriation of corporate opportunities by directors cannot be predetermined, but that each case would be based on the peculiarities of its own facts.

  6. 12 CFR 563.43 - Loans by savings associations to their executive officers, directors and principal shareholders.


    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Loans by savings associations to their... § 563.43 Loans by savings associations to their executive officers, directors and principal shareholders...) that is a savings and loan holding company. A company has control over a saving association if it...

  7. 26 CFR 1.6035-1 - Returns of U.S. officers, directors and 10-percent shareholders of foreign personal holding...


    ... corporate, shareholder, and income information for the foreign personal holding company's annual accounting... 898), the taxable year of such corporation shall be treated as its annual accounting period. (2) General corporate information. The general foreign personal holding company information required by this...

  8. Shareholder activism in banking

    Roman, Raluca


    This paper conducts the first assessment of shareholder activism in banking and its effects on risk and performance. The focus is on the conflicts among bank shareholders, managers, and creditors (e.g., regulators, deposit insurer, taxpayers, depositors). This paper finds activism may generally be a destabilizing force, increasing bank risk-taking, but creating market value for shareholders, and leaving operating returns unchanged, consistent with the empirical dominance of the Shareholder-Cr...

  9. Equal treatment of shareholders

    Arsić Zoran


    Full Text Available Equal treatment of shareholders is regulated in Art.269 of Company Act (2011 of Republic of Serbia. Equal treatment of shareholders means that all shareholders are to be treated equally under same circumstances. Obligation to treat all shareholders equally rests on all company bodies, predominantly general meeting. The standard whether an action violates the principle of equal treatment of all shareholders regarding the main rights of shareholders (such as voting right etc. is the nominal value of shares, or the equal treatment per person regarding ancillary rights (such as right to speak in shareholders' meeting etc.. Any action deviating from this standard is unlawful if the unequal treatment is not justified on the facts. If the principle of equal treatment is violated by general meeting resolution, such resolution may be annulled by the court.

  10. Distracted shareholders and corporate actions

    Kempf, Elisabeth; Manconi, Alberto; Spalt, Oliver

    Investor attention matters for corporate actions. Our new identification approach constructs firm-level shareholder "distraction" measures, by exploiting exogenous shocks to unrelated parts of institutional shareholders' portfolios. Firms with "distracted" shareholders are more likely to announce

  11. Voting Power and Shareholder Activism

    Strand, Therese; Poulsen, Thomas; Thomsen, Steen


    The article discusses the development of a voting power theory that is applied to a unique data set on Swedish shareholder meetings. The authors hypothesize that there is a positive relationship between shareholder activism and the largest shareholder's sensitivity to greater participation by small...... shareholders. It is shown that firms' amenability to small shareholder influence results in more proposals by nomination committees that are dominated by large shareholders, but fewer proposals by other shareholders. The importance of local institutions are highlighted and a call for more research regarding...... shareholder activism in alternative institutional settings is mad...

  12. Democracy and shareholder's participation

    Radulović Vuk


    Full Text Available Democracy and participation of shareholders or the demand for their active participation in the meetings of the Assemblyhas increasingly gained in importance in modern conditions. This is because, negative trends of passivation, the limitations of democratic potential of shareholders and shareholders' rights abuse by the management body, especially in the work control and compensation policy of shareholders, have been observed in a detailed analysis of the application and results of the Shareholder Rights Directive. The passivity of shareholders, as one of the most striking features of their position in the joint stock company today, is the biggest problem and threat to democratic processes within the company. If we bear in mind that the most common definition of shareholder democracy is 'ability of shareholders to influence the management of the company', we can notice a clear picture of the seriousness and importance of the lack of shareholder participation. This is the reason why the author of this paper gradually examines the causes and consequences of the passivity of shareholders, the proposed changes in this context in the Law of the European Union and the practical implications of such solutions in practice. In addition, the author examines contemporary forms and conditions for shareholder democracy and the legal framework in the European Union and the Republic of Serbia. In this way, we analyze the situation in this area and point out shortcomings of certain solutions, as well as the implications they cause in practice. The main thesis from which starts the scientific work and which will be gradually proven through theoretical and practical analysis is that the wider social processes directly reflect on the state of the joint-stock companies, or the state of corporate governance. This means that the negative trends of modern democracy (in the constitutional sense are almost mirrored in economic capital (EC and our attempt in this paper

  13. Shareholding Networks in Japan

    Souma, Wataru; Fujiwara, Yoshi; Aoyama, Hideaki


    The Japanese shareholding network existing at the end of March 2002 is studied empirically. The network is constructed from 2,303 listed companies and 53 non-listed financial institutions. We consider this network as a directed graph by drawing edges from shareholders to stock corporations. The lengths of the shareholder lists vary with the companies, and the most comprehensive lists contain the top 30 shareholders. Consequently, the distribution of incoming edges has an upper bound, while that of outgoing edges has no bound. The distribution of outgoing degrees is well explained by the power law function with an exponential tail. The exponent in the power law range is γ = 1.7. To understand these features from the viewpoint of a company's growth, we consider the correlations between the outgoing degree and the company's age, profit, and total assets.

  14. Constraints on Large-Block Shareholders

    Clifford G. Holderness; Dennis P. Sheehan


    Corporate managers who own a majority of the common stock in their company or who represent another firm owning such an interest appear to be less constrained than managers of diffusely held firms, yet their power to harm minority shareholders must be circumscribed by some organizational or legal arrangements. Empirical investigations reveal that boards of directors in majority-owned firms are little different from firms with diffuse stock ownership. Another source of constraints on a majorit...

  15. Institutional shareholder activism in Nigeria

    Uche, C.; Adegbite, E.; Jones, M.


    The file attached to this record is the author's final peer reviewed version. The Publisher's final version can be found by following the DOI link. Abstract Purpose-The purpose of this paper is to investigate institutional shareholder activism in Nigeria. It addresses the paucity of empirical research on institutional shareholder activism in sub-Saharan Africa. Design/Methodology-This study employs agency theory to understand the institutional shareholder approach to shareholde...

  16. Corporate Governance and Shareholder Litigation

    Kalchev, Georgi


    The probability for shareholder litigation is studied and how corporate governance characteristics and other factors explain it. Shareholder litigation results from failure of corporate governance. Thus a better quality of corporate governance is hypothesized to decrease the litigation probability. Corporate governance index is constructed based on principal components. It is found to be a significant predictor of shareholder litigation.

  17. Institutional Investors as Minority Shareholders

    Assaf Hamdani; Yishay Yafeh


    We examine the link between minority shareholders' rights and corporate governance by studying institutional investors' voting patterns in a concentrated ownership environment. Institutions rarely vote against insider-sponsored proposals even when the law empowers the minority. Institutions vote against compensation-related proposals more often than against related party transactions even when minority shareholders cannot influence outcomes. Potentially conflicted institutions are more likely...

  18. Director´s Fiduciary Duties Before Insolvency: Events Of Equity Loss

    Felipe Suescún de Roa


    Full Text Available Directors owe fiduciary duties to the company and its shareholders. Before insolvency, more specifically, when corporations are facing events of equity loss, directors should refrain from initiating new transactions and should call for a shareholders meeting. By not doing so, directors would be jointly and severally liable for corporate debts after the equity loss took place.

  19. Dominant shareholders, board structure and bank performance: Evidence from Serbia

    Stančić Predrag


    Full Text Available We investigate relation between board structure (size and composition and bank performance in 18 Serbian commercial banks with a dominant shareholder in 2006-2010. We analyze this relation using OLS regression analysis on an unbalanced panel dataset of 75 observations. We find no significant relation between proportion of independent directors on the board and bank performance. We also find no significant relation between bank market performance and board size. We find that bank profitability, measured by ROA and ROE, increase as the number of directors on the board decreases. This result is statistically significant after controlling for endogenous variables and unobserved macroeconomic effects. We conclude that Serbian banks with dominant shareholder should put limits on board size. The relation between bank performance and ownership concentration ratio is always negative, but significant only in case of ROA and ROE.

  20. Boards: Independent and Committed Directors?

    Christophe Volonté


    Regulators, proxy advisors and shareholders are regularly calling for independent directors. However, at the same time, independent directors commonly engage in numerous outside activities potentially reducing their time and commitment with the particular firm. Using Tobin's Q as an approximation of market valuation and controlling for endogeneity, our empirical analysis reveals that neither is independence positively related to firm performance nor are outside activities negatively related t...

  1. A marketing-finance approach linking contracts in agricultural channels to shareholder value

    Pennings, J.M.E.; Wansink, B.; Hoffmann, A.O.I.


    A conceptual marketing-finance framework is proposed which links channel contracting in agriculture and the use of financial facilitating services (e.g., financial derivatives) to (shareholder) value creation. The framework complements existing literature by explicitly including channel contract

  2. Corporate Social Responsibility and Shareholder Proposals

    Eding, Erwin; Scholtens, Bert


    We study how corporate social responsibility relates to investors, firms, and shareholder proposals. We examine shareholder proposals on environmental, social, and governance issues at the annual general meeting of shareholders with US Fortune 250 firms during 2011-2014. We find that the probability

  3. Corporate Social Responsibility and Shareholder Proposals

    Eding, Erwin; Scholtens, Bert

    We study how corporate social responsibility relates to investors, firms, and shareholder proposals. We examine shareholder proposals on environmental, social, and governance issues at the annual general meeting of shareholders with US Fortune 250 firms during 2011-2014. We find that the probability

  4. Corporate Donations and Shareholder Value

    Liang, H.; Renneboog, Luc


    Do corporate donations enhance shareholder wealth or reflect agency problems? We address this question for a global sample of firms whereby we distinguish between charitable and political donations, as well as between donations in cash and in kind. We find that charitable donations are positively

  5. Shareholders' Fundamental Rights in Listed Companies

    Werlauff, Erik


    There can be no reasonable doubt that the EU’s initiatives in the field of shareholders’ fundamental rights in listed companies are among the successful, relevant and necessary provisions under EU corporate and stock exchange law. This also holds true for the main Directive 2007/36. When consider......There can be no reasonable doubt that the EU’s initiatives in the field of shareholders’ fundamental rights in listed companies are among the successful, relevant and necessary provisions under EU corporate and stock exchange law. This also holds true for the main Directive 2007/36. When...... considering the whole spirit and idea of the EU and its competences, the field of basic shareholders’ rights, including cross-border shareholding, is to be regarded as a welcome initiative that has facilitated the exercise of fundamental rights also in cross-border shareholding. The success is further...... emphasized by the fact that some countries, including Denmark, have regarded a number of the fundamental rights vested in the directive as being so well formulated that the countries have chosen to gold-plate their own legislation by introducing rights which are similar to those in the directive also for non...

  6. Corporate Shareholding and Agency Cost

    Nakano, Katsura


    This paper incorporates the agency problem with a risk-sharing argument for corporate shareholding. With a unilateral investment model, we findconditions for a positive stock investment : (1)the manager is risk averse; (2)her managerial reward is linked with the value of the firm she manages; and (3)the operating profits of investing and invested companies is negatively correlated. Corporate investment is larger if the invested company's operating profit is less vo1atile and/or if the covaria...

  7. Defining and Selecting Independent Directors

    Eric Pichet


    Full Text Available Drawing from the Enlightened Shareholder Theory that the author first developed in 2011, this theoretical paper with practical and normative ambitions achieves a better definition of independent director, while improving the understanding of the roles he fulfils on boards of directors. The first part defines constructs like firms, Governance system and Corporate governance, offering a clear distinction between the latter two concepts before explaining the four main missions of a board. The second part defines the ideal independent director by outlining the objective qualities that are necessary and adding those subjective aspects that have turned this into a veritable profession. The third part defines the ideal process for selecting independent directors, based on nominating committees that should themselves be independent. It also includes ways of assessing directors who are currently in function, as well as modalities for renewing their mandates. The paper’s conclusion presents the Paradox of the Independent Director.

  8. Annual report to shareholders 1998



    Financial information from Imperial Oil Limited and a review of operations during 1998 was presented for the benefit of shareholders. Imperial is Canada`s largest producer of crude oil, a major producer of natural gas, and the largest refiner and marketer of petroleum products sold mostly under the Esso brand. Imperial is also a major producer of petrochemicals. Revenue and expenditure statements are summarized by source. Financial highlights for 1998 show that Imperial Oil`s earnings totaled a record $554 million. Return on shareholders` equity for the year was 12.9 per cent, down from 18.9 per cent in 1997. The continued weakness in international crude oil markets was the most significant factor affecting Imperial`s business results in 1998. All in all, the company was successful in maintaining its four major priorities of flawless execution, growth in profitable sales volumes, best-in-class cost structure, and improved productivity in asset mix. Imperial remains concerned over issues regarding Canada`s response to potential climate change. The company considers this to be the most important economic public policy issue facing Canada today. tabs., figs.

  9. Annual report to shareholders 1998


    Financial information from Imperial Oil Limited and a review of operations during 1998 was presented for the benefit of shareholders. Imperial is Canada's largest producer of crude oil, a major producer of natural gas, and the largest refiner and marketer of petroleum products sold mostly under the Esso brand. Imperial is also a major producer of petrochemicals. Revenue and expenditure statements are summarized by source. Financial highlights for 1998 show that Imperial Oil's earnings totaled a record $554 million. Return on shareholders' equity for the year was 12.9 per cent, down from 18.9 per cent in 1997. The continued weakness in international crude oil markets was the most significant factor affecting Imperial's business results in 1998. All in all, the company was successful in maintaining its four major priorities of flawless execution, growth in profitable sales volumes, best-in-class cost structure, and improved productivity in asset mix. Imperial remains concerned over issues regarding Canada's response to potential climate change. The company considers this to be the most important economic public policy issue facing Canada today. tabs., figs

  10. Climate change and shareholder value


    During 2005, the Carbon Trust worked with Cairneagle Associates to develop a methodology for analysing shareholder value at risk from climate change. The model developed offers a robust, replicable, top-down approach to analysing such value at risk. In addition to a company's own energy linked ('direct' and electricity linked 'indirect') carbon emissions, it looks further along the value chain and considers broader potential risk. In calculating the financial impact, the analysis quantifies the potential impact on profits, using the shape of the business in 2004, but applying a potential 2013 emissions regulatory regime. 2013 was chosen as the first year after the end of the 2008-2012 Kyoto compliance period (which also equates to Phase Two in the EU Emissions Trading Scheme). A major uncertainty is to what extent countries not currently regulated by the Kyoto Protocol (particularly the USA, India and China) will be brought into committed emission reduction targets from 2013. 2013 therefore represents the earliest year under this uncertain, but likely tougher, regulatory regime. However, although this report focuses on 2013, it needs to be recognised that, for many sectors, financial impacts will be seen significantly before this time. Ten 'case study companies' have been studied, from a range of sectors. In some cases, the 'case study company' analysed is strictly linked to a single company within that sector. In others, just a single corporate division has been reviewed, and in others yet again, characteristics from several companies have been combined to produce a more representative example. In order to enable analysis on a strictly like-for-like basis, the research has been based entirely upon public sources of information. This analysis illustrates what a determined shareholder (or other onlooker) could derive about value at risk from climate change, based upon what companies disclose today. A summary of the analysis for each sector case study is given, with

  11. Shareholders proposals, vote outcome, and board composition

    Amani Khaled Bouresli


    Full Text Available This paper examines the variables that affect vote outcome in shareholder proposals. We found that sponsor identity, proposal type, and board composition play a significant role in determining vote outcome. Furthermore, we found that the interaction between the prior performance with board composition is significant and has a negative coefficient. We conducted nonparametric tests to investigate changes in board’s major characteristics before and after targeting. The results indicate that some changes in management and boards occur after shareholder proposals. These changes, however, are unrelated to variables that impact vote outcome. We conclude that shareholders proposals are not effective at changing company behavior or corporate governance

  12. Annual report to shareholders 2000



    Esso Imperial is Canada's largest producer of crude oil and a major producer of natural gas. It is also the largest refiner and marketer of petroleum products, including petrochemicals, with a coast-to-coast supply network. Due mainly to higher energy prices and strong refining margins, in 2000 the Company had the highest earnings in its 120-year history. Return on equity also rose to the highest level in two decades; returns to shareholders have exceeded 20 per cent per year compounded, over the last five years. Net earnings were $1.42 billion, or $3.40 per share, compared with $510 million and $1.18 per share in 1999. During the year the Company continued to adhere to its four guiding principles -- flawless execution of day-to-day fundamentals of all aspects of the business, growth in profitable sales volumes, best-in-class cost structure, and improved productivity of asset mix. Some operating highlights from the year 2000 include: (1) expansion of the Moncton, NB-based Customer Service and Support Centre, (2) significant reduction in the number of hazardous incidents, (3) increased production of natural gas, in part as a result of new production from the Sable Offshore Energy project, (4) beginning of production from the new Aurora Mine at Syncrude, (5) start of construction on the next three phases of development at Cold Lake, (6) commissioning further conceptual engineering work and initiation of baseline biophysical data collection in the Mackenzie Delta as part of the study of the feasibility of bringing northern gas to southern markets, (7) achieving best-in-class cost structure in some of the Company's business units, despite upward pressure on operating expenses from the increased cost of energy to run plants and facilities, (8) anticipated capital expenditures of over one billion dollars, and (9) reaching agreement with ExxonMobil Canada to share common business and support services in natural resources operations, and to jointly pursue new oil

  13. Theoretical foundations of shareholders' right to appraisal

    Vasiljević Mirko


    Full Text Available Shareholders' right to appraisal represents a controversial topic of corporation law, which is why a relatively small number of countries accept it. In this article, the authors analyze the goals that are supposed to be achieved with the introduction of shareholders' appraisal rights. In this respect, traditional and modern explanations for the introduction or maintaining of this right have been presented. In the second part of this article, shareholders' right to appraisal has been critically examined, mostly from corporations' perspective. Afterwards, several potential causes of inefficiency of using this right have been identified. Perceiving pros and cons of shareholders' right to appraisal is of particular importance for Serbia, in order to draw a conclusion about harmonization of our legislative solutions with the theoretical foundations of this right.

  14. Directors' report and accounts 1992/1993


    This item is the Directors' Report and Accounts for the financial year 1992/1993 for Scottish Hydro-Electric plc, a United Kingdom utility which generates, distributes and sells electricity to its customers in that country. While generation is based in Scotland, the company is seeking to penetrate the energy market in England and Wales, and increase earnings in Scotland through improved performance. Increased customer and shareholder satisfaction is identified as a continuing goal. Turnover, profits and dividends to shareholders have all increased during the year. (UK)


    Cristina Cojocaru


    Full Text Available In principle, in Romania, according to current regulations, the director of a company can not address the court against the decision of the general meeting of shareholders through which he/she was revoked from his/her position, regardless of the reasons for the revocation. However, if the director is also the shareholder of that company, he/she may appeal the decision of the general meeting of shareholders, for other reasons than the revocation itself. This is the case even if, by that decision of the general meeting of shareholders it has been decided, inter alia, the revocation of the director. Also, the laws of Romania stipulate that the revoked director has the possibility to claim in court damages if he/she fulfilled correctly the duties as director of the company. At the same time, the article looks at the concept of director, his/her relations with the company and the revocation of the director as general concept.

  16. Facilitating the implementation of the American College of Surgeons/Association of Program Directors in Surgery phase III skills curriculum: training faculty in the assessment of team skills.

    Hull, Louise; Arora, Sonal; Stefanidis, Dimitrios; Sevdalis, Nick


    Effective teamwork is critical to safety in the operating room; however, implementation of phase III of the American College of Surgeons (ACS) and Association of Program Directors in Surgery (APDS) Curriculum that focuses on team-based skills remains worryingly low. Training and assessing the complexities of teamwork is challenging. The objective of this study was to establish guidelines and recommendations for training faculty in assessing/debriefing team skills. A multistage survey-based consensus study was completed by 108 experts responsible for training and assessing surgical residents from the ACS Accredited Educational Institutes. Experts agreed that a program to teach faculty to assess team-based skills should include training in the recognition of teamwork skills, practice rating these skills, and training in the provision of feedback/debriefing. Agreement was reached that faculty responsible for conducting team-based skills assessment should be revalidated every 2 years and stringent proficiency criteria should be met. Faculty development is critical to ensure high-quality, standardized training and assessment. Training faculty to assess team-based skills has the potential to facilitate the effective implementation of phase III of the ACS and APDS Curriculum. Copyright © 2015 Elsevier Inc. All rights reserved.

  17. Corporate Governance in Shareholding Companies: Comparing Legal Perspective and Position of Shari’ah

    Aznan, H.; Harith Amir Hasan Al Timimi


    This study examines the concept of corporate governance in shareholding companies and the legal perspective in comparison with the position of Shari’ah. The purpose of governance is to instil confidence among the stakeholders that the Boards of Directors are applying a diligent legal and administrative framework, to avoid potential administrative and financial failures and corruption. The study has proceeded by defining the concept of governance from linguistics, accounting, administrat...

  18. When to fire bad managers: The role of collusion between managment and board of directors.

    Beetsma, R.M.W.J.; Peters, H.; Rebers, E.


    We develop a model in which a shareholder hires a director to monitor a manager who faces stochastic firing costs. We study the optimal incentive scheme for the director, allowing for the possibility that the manager bribes the director in order to change his firing intentions. Such collusion may be

  19. 10 ways to create shareholder value.

    Rappaport, Alfred


    Executives have developed tunnel vision in their pursuit of shareholder value, focusing on short-term performance at the expense of investing in long-term growth. It's time to broaden that perspective and begin shaping business strategies in light of the competitive landscape, not the shareholder list. In this article, Alfred Rappaport offers ten basic principles to help executives create lasting shareholder value. For starters, companies should not manage earnings or provide earnings guidance; those that fail to embrace this first principle of shareholder value will almost certainly be unable to follow the rest. Additionally, leaders should make strategic decisions and acquisitions and carry assets that maximize expected value, even if near-term earnings are negatively affected as a result. During times when there are no credible value-creating opportunities to invest in the business, companies should avoid using excess cash to make investments that look good on the surface but might end up destroying value, such as ill-advised, overpriced acquisitions. It would be better to return the cash to shareholders in the form of dividends and buybacks. Rappaport also offers guidelines for establishing effective pay incentives at every level of management; emphasizes that senior executives need to lay their wealth on the line just as shareholders do; and urges companies to embrace full disclosure, an antidote to short-term earnings obsession that serves to lessen investor uncertainty, which could reduce the cost of capital and increase the share price. The author notes that a few types of companies--high-tech start-ups, for example, and severely capital-constrained organizations--cannot afford to ignore market pressures for short-term performance. Most companies with a sound, well-executed business model, however, could better realize their potential for creating shareholder value by adopting the ten principles.

  20. Shareholders rights and remedies (comparative law perspective

    Yuliya Lapina


    Full Text Available The main aim is to discuss shareholder rights protection in Ukraine and Germany, which have the same Civil law legal system. Our contribution outlines, systemizes and accesses approaches how critical and weak issues in the area of shareholder protection are resolved in both countries using the mechanisms of corporate governance. Using Germany as a benchmark, the paper identifies that the most important and efficient mechanisms of shareholders rights protection, which can be implemented in Ukrainian companies are the following: principle of equal treatment and duty of loyalty which should be fixed in the legislation; enhancing the role of the National Securities and Stock Market Commission; introduction of the derivative suit system.

  1. 12 CFR 7.2001 - Notice of shareholders' meetings.


    ... AND OPERATIONS Corporate Practices § 7.2001 Notice of shareholders' meetings. A national bank must... notice of the shareholder's meeting. The articles of association, bylaws, or law applicable to a national...

  2. Audit pricing and nature of controlling shareholders: Evidence from France

    Chiraz Ben Ali


    Full Text Available This study examines whether auditors are employed as a monitoring mechanism to mitigate agency problems arising from different types of controlling shareholders. In a context of concentrated ownership and poor investor protection, controlling shareholders can easily expropriate wealth from minority shareholders and profit from private benefits of control. However, this agency conflict has been rarely studied, as the most commonly assumed agency conflict occurs between managers and shareholders. Using an audit fee model derived from Simunic (1980, we study the impact of the nature of controlling shareholders on audit fees in French listed firms. Our results show: (1 a negative relationship between audit fees and government shareholdings; (2 a positive relationship between audit fees and institutional shareholdings; and (3 no relationship between audit fees and family shareholdings. These results illustrate the mixed effects of the nature of ownership on audit fees.

  3. Controlling shareholders and market timing in share issuance

    Urzua Infante, F.; Larrain, B.


    We examine market timing in the equity issuance of firms controlled by large shareholders using a hand-collected data set of controlling shareholders' ownership stakes in Chile between 1990 and 2009. When a firm issues shares, the controlling shareholder can either maintain or change his ownership

  4. Shareholder activism through proposals : The European perspective

    Renneboog, Luc; Szilagyi, P.G.; Cziraki, Peter; Bratton, W.; McCahery, J.

    This paper is the first to investigate the corporate governance role of shareholderinitiated proxy proposals in European firms. While proposals in the US are nonbinding even if they pass the shareholder vote, they are legally binding in the UK and most of Continental Europe. Nonetheless, submissions

  5. Shareholder Activism Through the Proxy Process

    Renneboog, L.D.R.; Szilagyi, P.G.


    This paper provides evidence on the corporate governance role of shareholder-initiated proxy proposals. Previous studies debate over whether activists use proxy proposals to discipline firms or to simply advance their self-serving agendas, and whether proxy proposals are effective at all in

  6. Insider trading, shareholder activism, and corporate policies

    Cziraki, P.


    This doctoral thesis focuses on two topics that have received considerable attention from academics, regulators, and the business press over the past decades: insider trading, and shareholder activism. The first chapter evaluates proxy proposals as a corporate governance device in Europe. The second

  7. European Regulation on Major Shareholdings and Takeovers

    Sørensen, Karsten Engsig; Clausen, Nis Jul


    Even though the rules on disclosure of major shareholdings in listed companies has been partly harmonised in the EU large difference remains. This is documented in the article and it is further debated whether these difference are acceptable, especially in light of the ongoing efforts to harmonise...

  8. The organizational restructuring performative act under shareholder value management ideology

    Patrícia Saltorato


    Full Text Available Purpose – This paper’s objective is to present the dynamics involving an organizational restructuring process conducted in a Brazilian subsidiary of a centenary American industrial corporation which claimed to be seeking, by means of this process, to increase the value of the company’s shares, but, which results reveal the distance between the promises and outcomes of this process, unveiling the symbolic-performative nature of such a process. Methodology – The chosen research method was the case study. The data collection involved the participant observation of a company manager (2010-2015; the conduction of non-structured interviews to the company’s managers, directors and CFO (2013-2015; documental research to the company’s internal and public sources (2010-2015; and bibliographical research to scientific papers, business press, market analysts and specialized media (2010-2015. Results – The narratives of success found in the company’s reports portray the restructuring myth as a continuous strategy, through which the company reinforces its efforts in delivering good results to shareholders. And, despite the outcomes of the case study not supporting these narratives, its performative nature legitimize the company’s commitment to the SHV management ideology towards stakeholders of the capital market, even in face of the adoption of antishareholders’ postures, such as anti-takeovers measures, the merging of the CEO and Chairman positions, its CEO perks, etc. Contributions – Paradoxically, although the researched company operates under the cold logic of finances, and under pressure to create shareholder value, it revealed to be subject to the dynamics in which the search for symbolic legitimacy plays a decisive role in maintaining its position within the hierarchy of the socially constructed field of the Management in face of other stakeholders present in the field, reinvigorating the precepts of Bourdieu’s Field Theory and

  9. Director and Officer Liability in the Zone of Insolvency; A ...

    In principle, the company, alone, is responsible for the debts incurred in the running of the company and the creditors are, in principle, precluded from looking to the directors or shareholders for payment of any shortfall arising as a result of the company\\'s insolvency. This principle has, in a number of jurisdictions undergone ...

  10. A practitioner’s research: Director remuneration in Ukraine

    Alexander N. Kostyuk


    Full Text Available Remuneration of members of the supervisory boards in Ukrainian joint-stock companies is the most controversial issue of the corporate board practices. Despite the firm belief of the shareholders that the director remuneration is one of the most important factors influencing the board performance, there are still many companies (21 per cent where directors are not remunerated for their work on the supervisory board. This report examines practices of the director’s remuneration in Ukraine.

  11. Excess cash holdings and shareholder value

    Lee, Edward; Powell, Ronan


    We examine the determinants of corporate cash holdings in Australia and the impact on shareholder wealth of holding excess cash. Our results show that a trade-off model best explains the level of a firm’s cash holdings in Australia. We find that 'transitory' excess cash firms earn significantly higher risk-adjusted returns compared to 'persistent' excess cash firms, suggesting that the market penalises firms that hoard cash. The marginal value of cash also declines with larger cash balances, ...

  12. Changing the world through shareholder activism?

    Joakim Sandberg


    Full Text Available As one of the more progressive facets of the socially responsibleinvestment (SRI movement, shareholder activism isgenerally recommended or justified on the grounds that itcan create social change. But how effective are differentkinds of activist campaigns likely to be in this regard? Thisarticle outlines the full range of different ways in whichshareholder activism could make a difference by carefullygoing through, first, all the more specific lines of actiontypically included under the shareholder activismumbrella and, second, all of the different ways in which ithas been suggested that these could influence the activitiesof commercial companies. It is argued that – althoughmuch more empirical research is needed in the area – thereare at least theoretical reasons for thinking that it will bedifficult to influence companies through the standardactions of filing or voting on shareholder resolutions.However, some alternative strategies open to activists mayallow them to increase their efficacy. It is specificallyargued that even individual investors could be able to pushfor corporate change through devising a radically selfsacrificialcampaign that manages to get the attention ofpowerful forces outside the corporate sphere.

  13. Directors' report and accounts for the year ended 31 March 1993


    The report of the Directors of Scottish Power for 1992/1993 is presented, and accounting policies, group profit and loss account, balance sheets and group cash flow statement are given. Notes concerning the accounts are included. The report of the Auditors is also presented, and the names of the directors, secretaries and advisors, and shareholder information is listed. (UK)

  14. Service quality measurement for non-executive directors in public entities


    D.Comm. In commercial corporations shareholders, at least in theory, evaluate the performance of the boards they have appointed. Such evaluation is mainly based on the financial performance of the entity. Public (state funded) entities have only the state as shareholder and the performance of their boards is not evaluated by the taxpayers who ultimately pay the directors' fees. The term "public entity" refers to 20 corporations with an annual turnover in excess of R 55 billion which are su...

  15. Shareholder/Stakeholder Value Management, Company Growth and

    Ekholm, Bo-Göran; Wallin, Jan


    There has been considerable discussion in the literature about the relative merits of shareholder value management and stakeholder value management, but relatively little empirical research has been reported concerning the relationship between these types of management and financial performance. The present study puts forward a hypothesis that true shareholder value management also encompasses stakeholder value management. This combination of shareholder/stakeholder value management is hypoth...

  16. Shareholder, stakeholder-owner or broad stakeholder maximization

    Mygind, Niels


    With reference to the discussion about shareholder versus stakeholder maximization it is argued that the normal type of maximization is in fact stakeholder-owner maxi-mization. This means maximization of the sum of the value of the shares and stake-holder benefits belonging to the dominating stakeholder-owner. Maximization of shareholder value is a special case of owner-maximization, and only under quite re-strictive assumptions shareholder maximization is larger or equal to stakeholder-owner...

  17. 26 CFR 1.1367-2 - Adjustments to basis of indebtedness to shareholder.


    ...) Termination of shareholder's interest in corporation during taxable year. If a shareholder terminates his or... termination of the shareholder's interest in the corporation. (3) Multiple indebtedness. If a shareholder..., immediately prior to the termination of the shareholder's interest in the corporation, the reduction in basis...

  18. On The Improvement of the System of Board of Directors in China

    Zhao Jinlong


    Full Text Available Currently, shareholder democracy in many countries are gaining much more attention because many factors have damaged shareholder’s rights and interest, in which is the problem of the system of board of directors when it operated, including the formalization of the board of directors, the autocracy of managers and staggered boards. To safeguard the legitimate interests of the company and minority shareholders, the system of board of directors is to be improved in following areas: defining the supervision functions and powers of the board of directors, setting up sub-committees within the board, improving the director appointing mechanism and electoral system, improving the director qualification system, abolishing the system of legal representative of company, and improving the system of duty of care and related liabilities.

  19. The AGM in Europe : Theory and practice of shareholder behaviour

    Lafarre, Anne


    The Annual General Meeting of Shareholders (‘AGM’) is widely considered as playing a vital and pivotal role in the corporate governance framework in business across Europe, but issues such as shareholder absenteeism and a lack of internal dialogue mean that the AGM’s effectiveness in company

  20. 26 CFR 1.815-2 - Distributions to shareholders.


    ....815-2 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Distributions to Shareholders § 1.815-2 Distributions to shareholders. (a) In general. Section 815 provides that every stock life insurance company subject to the tax imposed by...

  1. How Relevant is Dividend Policy under Low Shareholder Protection?

    Renneboog, L.D.R.; Szilagyi, P.G.


    This paper reopens the debate on the substitutability of dividends and shareholder control in mitigating free cash flow concerns, by examining dividend behavior when shareholder control is restricted in the firm.We consider the stakeholder-oriented governance regime of the Netherlands, where

  2. Does EU law resolve or create conflicts between shareholders?

    Sørensen, Karsten Engsig


    The contribution discuss how the harmonisation in the EU has been directed at either preventing or solving conflicts between shareholders.......The contribution discuss how the harmonisation in the EU has been directed at either preventing or solving conflicts between shareholders....

  3. Structuring group medical practices: shareholder and partnership agreements.

    Gassman, A S


    This article is the second in a series addressing the structuring of group medical entities, shareholder relationships, and general representation factors. In this article, a number of the legal and business considerations for entering into shareholder and partnership agreements are discussed, and various types of practice structures and recommended group practice agreement provisions are described.

  4. Independent Directors

    Ringe, Wolf-Georg


    This paper re-evaluates the corporate governance concept of ‘board independence’ against the disappointing experiences during the 2007-08 financial crisis. Independent or outside directors had long been seen as an essential tool to improve the monitoring role of the board. Yet the crisis revealed...... that they did not prevent firms' excessive risk taking; further, these directors sometimes showed serious deficits in understanding the business they were supposed to control, and remained passive in addressing structural problems. A closer look reveals that under the surface of seemingly unanimous consensus...

  5. Transparency of Shareholders in the Czech Republic

    Jindřiška Šedová


    Full Text Available The recodification of commercial and civil law in the Czech Republic has resulted in a new concept for the legislation relating to securities. Significant changes have also been made to the legislation covering shares. The new legislation concerns not only the actual form of shares, but also their circulation. The aim of this article is to highlight the most important changes in the legislation relating to bearer shares, especially bearer shares in paper form, and to assess these changes from the viewpoint of their impact on the transparency of joint stock companies and uncontrolled circulation of shares. This assessment will be based on an appraisal of the importance of bearer shares for capital business in the Czech Republic and the effects the new legislation is expected to bring about. The article will also consider possible alternatives in the behavior of shareholders (investors who prefer to remain anonymous.

  6. Disclosure of Major Shareholdings: A Comparative Analysis of Regulation in Europe

    Sørensen, Karsten Engsig; Clausen, Nis Jul


    This article analysis the present regulation of disclosure of shareholdings whereby the identity of a shareholder and the size of his/her shareholding is made know to the public. The focus is on the directive on disclose of major shareholdings, and how it has been implemented in the Member States...

  7. Protection of minority shareholders under Nigerian Company Law ...

    AFRICAN JOURNALS ONLINE (AJOL) · Journals · Advanced Search · USING ... been circumvented through the system of voting adopted especially in the election ... cumulative voting system and electronic participation of shareholders or their ...

  8. Ownership and Risk Management: Shareholder versus Stakeholder Satisfaction

    Aabo, Tom


    The relationship between ownership structure and performance has received considerable attention in the literature. This paper focuses on the relationship between ownership structure and risk management. Specifically, the paper addresses the relationship between (1) the identity and influence...... of the largest shareholder and (2) whether risk management decisions are made in order to satisfy shareholders in particular or stakeholders in general. Covering a sample of Danish, non-financial companies a statistically significant, negative relationship is found between personal ownership and the likelihood...... that the aim of risk management is to satisfy shareholders in particular. No significant relationship is found for foundation-owned companies. Furthermore, a positive relationship is found between the size of the company and the tendency to satisfy shareholders in particular. The finding in relation...

  9. Stakeholder Versus Shareholder Satisfaction in Corporate Risk Management

    Aabo, Tom

    Inherent in corporate governance is the conflict between satisfying stakeholders in general and satisfying shareholders in particular. This empirical study of Danish non-financial companies enhances the understanding of the interaction between corporate risk management and corporate governance...

  10. Essays on the voting power of large shareholders

    Poulsen, Thomas

    in this thesis is the relative power of shareholders embedded in the structure of share ownership in public firms. It is particularly important to understand the effect of concentrated share ownership, given that this is the dominant ownership structure for both public and private firms around the world....... This interest in the power of large shareholders is the animating theme of this thesis, which consists of three self-contained research papers. The aim is to analyze how the power of large shareholders varies with different structures of share ownership and through that increase our awareness of how this may...... affect firms' operations. Such an analysis calls for some kind of measure of influence. The game-theoretic idea of power indices is a useful quantitative tool to model influence within the group of shareholders. Therefore, the purpose is to investigate the effect of ownership structure...

  11. 25 CFR 111.4 - Election of shareholders.


    ... PAYMENTS § 111.4 Election of shareholders. An Indian holding equal rights in two or more tribes can share... enrolled and to relinquish in writing his claims to payments to the other. In the case of a minor the...

  12. The effects of takeover threats of shareholders and firm value

    Haan, Marco; Riyanto, Yohanes


    We study the role of takeover threats as a corporate control mechanism using Aghion and Tirole's (1997) model of formal and real authority. Shareholders do not monitor the manager's actions, since ownership is widely dispersed. A corporate raider may monitor, and steps in if a profit opportunity exists. In our model, a takeover threat decreases the manager's effort and does not benefit shareholders. The effect of a takeover threat on the expected value of the firm is ambiguous. It is in the i...

  13. Ecology and shareholder value - a contradiction in terms?

    Schneider, G.; Schaltegger, S.; Rechsteiner, R.; Figge, F.; Kuhn, R; Biedermann, D.


    In its function as a purely financial concept for company assessment, does shareholder value promote short-term thinking or can an enterprise's orientation towards shareholder value be sustainable? What contradictions exist between the yield, security and liquidity of an asset and ethically and ecologically correct behaviour? One of the authors shows why effective environmental protection and a simultaneous increase in shareholder value are both possible and sensible. Especially when the assessment of the future economic chances of an enterprise in a changing ecological frame of reference are being examined, the shareholder value approach is well suited as a conceptional basis - provided it is correctly used. Can shareholders replace environmental policy? This question is asked by another of the authors. Is a 'green' strategy good, simply because it generates more profit? Can green capitalism rescue the world? According to another contributor there is no real contradiction between the shareholder value approach and the stake holder concept. The shareholder value approach is primarily a method for looking at an enterprise from the capital investor's point of view. The stake holder concept can, on the other hand, be assigned to the strategic management category. It shows that enterprises must take account of stake holder requirements in order to permanently be able to reach their goals. A further contribution addresses the role played by pension funds. What responsibility is carried by a pension fund when it invests its assets? What are its objectives? Which role do socially and ecologically-oriented investments play? Is there really a contradiction between economy and ecology? How does a pension fund deal with possible conflicting objectives? Another contributor presents an investment foundation's integrated approach to socially responsible investment: First of all, investments should be made in those enterprises and countries that make exceptional contributions to

  14. Ownership and Risk Management: Shareholder versus Stakeholder Satisfaction

    Aabo, Tom


    The relationship between ownership structure and performance has received considerable attention in the literature. This paper focuses on the relationship between ownership structure and risk management. Specifically, the paper addresses the relationship between (1) the identity and influence of the largest shareholder and (2) whether risk management decisions are made in order to satisfy shareholders in particular or stakeholders in general. Covering a sample of Danish, non-financial compani...

  15. Improving Shareholder Value through Corporate Governance Mechanism in Malaysian Listed Companies

    Ibrahim, Mohammed Yussoff; Ahmad, Ayoib Che; Khan, Muhammad Anees


    This paper proposes to investigate the postulations of renowned agency theory and shareholder value (SHV) in relation to Corporate Governance (CG) attributes. Shareholder value is of a great concern to the shareholders of firms. Shareholder value have been investigated by numerous studies of corporate governance but with inconsistent empirical evidence. This study will focus on investigating the impact of CG attributes on Shareholder value measured by Tobin’s Q or return on both equity and as...

  16. The Influence of Institutional Shareholder Activism as a Corporate Governance Monitoring Mechanism in Malaysia

    Maizatul A. Musa


    Not many studies have been undertaken on shareholder activism in emerging economies, including Malaysia. Shareholder activism in emerging economies is on the rise. This paper seeks to comprehend the elements of this activism that are unique to Malaysia, specifically with respect to how the agency problem is controlled through shareholder activism in improving corporate governance practices within target companies. Through shareholder activism, shareholders make contact with a target company t...

  17. Board effectiveness: Investigating payment asymmetry between board members and shareholders

    Wuchun Chi


    Full Text Available Board members may well be responsible for dissension between themselves and shareholders since they are simultaneously the setters and receivers of both board remuneration and dividends. They may act out of their own personal interests at the expense of external shareholders. We investigate the impact of ownership structure, board structure and control deviation on payment asymmetry, where excessively high remuneration is paid to board members but considerably lower dividends are distributed to shareholders. We find strong evidence confirming that the smaller the shareholdings of board members and outside blockholders are, the more asymmetric the payments are. With controlling family members on the board and a higher percentage of seats held by independent board members, there is a slight reduction in the likelihood and severity of payment asymmetry. In addition, it is abundantly clear that the larger the board seat-control deviation is, the greater is the likelihood and severity of payment asymmetry. While prior research has primarily focused on board-manager agency issues, the board-shareholder perspective could be even more important in that it is the board that is the most directly delegated agent of shareholders, not the managers

  18. Marketing and finance: creating shareholder value

    M. McDonald; B.D. Smith; K. Ward


    Written for marketing and finance directors, CEOs, and strategists, as well as MBA students, this practical book explains the principles and practice behind rigorous due diligence in marketing. It connects marketing plans and investment to the valuation of the firm and how it can contribute to increasing stakeholder value. Completely revised and updated throughout, the Second Edition features new case examples as well as a completely new first chapter containing the results of new research in...

  19. Pension benefits of executive directors : A comparative study of general retailers between 2006-2010

    Condric, Tomislav; Tomic, Katarina


    Several recent corporate governance scandals relate to non-disclosure or high amounts of pension benefits given to executive directors. The lack of disclosure and transparency has gained pensions benefits greater attention as a significant part of the total remuneration received by executive directors. Due to the associated problems there is a greater need for better disclosure and in turn heightened transparency towards shareholders.   This qualitative case study focuses on general retailers...

  20. Increasing Shareholders Value through NPV-Negative Projects

    Paweł Mielcarz


    Full Text Available The concept of Net Present Value (NPV is a widely accepted tool for verification of financial rationality of planned investment projects. Projects with positive NPV increase a company's value. Similarly, those with negative NPV lead to a decline in the value of a business. This article attempts to answer the question: are projects with negative NPV always disadvantageous in terms of maximization of shareholder value and when should an NPV-negative project be considered justified? The authors discuss the issues of project valuation depending on different conditions. First, they briefly summarize the main idea of valuation - the aim of every company is to maximize shareholder value. Contemporary professional texts say that the way to achieve this goal is through projects that can generate a positive Net Present Value. When there are no such investments within reach, the company should pay dividends to its owners. The authors claim that some circumstances justify investments with a negative Net Present Value, as they still produce maximum possible shareholder value. The three model situations where this takes place are: (1 tax on dividends; (2 shareholders' perception of risk; and (3 temporary inefficiency of the markets. Taxes on dividends reduce cashflows for shareholders from distributed dividends. Therefore, they act exactly as an investment with a negative NPV. The authors conclude that this creates an opportunity to maximize shareholder value by comparing this loss with available alternate projects with negative NPV. If the loss of worth, caused by such taxes, is bigger that the negative NPV of possible investments it will be more rational to invest instead of paying dividends. And, according to the authors, a project with a negative NPV leads to maximized shareholder value. In the second situation, the authors point out that some projects may have negative fundamental (intrinsic value when valuated by the market (diversified owners because

  1. Compulsory acquisition of shares buyer, other shareholders, abuse of right of compulsory acquisition of shares

    Arsić Zoran V.


    Full Text Available Company Act of Republic of Serbia includes mechanism for the compulsory acquisition of the shareholdings of minority shareholders. Technically this procedure is effected on the basis of the shareholders assembly resolution. Buyer is shareholder who has at least 90% of share capital and at least 90% of votes. Shares owned by entity under his dominant influence will be treated as shares of that shareholder provided that dominant influence exists at least one year. Company's own shares, and shares subject o a pledge do not represent shares of other shareholders. There are several actions which may be treated as abuse of right of compulsory acquisition of shares.

  2. Director's report.

    Pathak, K B


    The director's report for the International Institute for Population Sciences in Bombay, India, provides descriptions of the Institute's teaching programs, research, publications, seminars, library collection, visitors, faculty and staff, and special events. The teaching programs include regular instruction in one-year diploma courses in population studies and a masters and a masters in philosophy in population studies; a diploma is also available in health education. Student represent a variety of countries for the diploma programs, while the other certificate programs draw on the national population. A listing is provided of those receiving certificates. Research programs are listed by whether the program was completed during 1992-93 or earlier or is a new project. The Institute conducts a National Family Welfare Survey among 23 states. This household survey is directed to women and supplies village level data. The Institute publishes a quarterly newsletter about ongoing activities and a biennial compendium of research findings. The Institute observes World Population Day and organized the 10th Annual Convention on Medical Statistics and other conferences. The Institute held the first meeting of the National Council of Population Research on September 21, 1992, and the designated subcommittee members met on November 14, 1992. The library recently added 1117 volumes, which contributed to the total library collection of 55,539 volumes, including 8000 bound periodicals and 12,615 reprints. Several high government officials visited the Institute in 1992. Other visitors came from the US, Bangladesh, and the UN. The Institute is comprised of six academic departments with computer and library resources. Staff were involved a few overseas tours of study. Founders day is celebrated as a cultural event.

  3. Esso Imperial Oil annual report to shareholders 2003 : sustaining growth in shareholder value


    Financial information from Esso Imperial Oil, one of Canada's largest producers of crude oil and natural gas, was presented and a review of their 2003 operations was made available for the benefit of shareholders. In 2003, the total return on Imperial shares including capital appreciation and dividends was more than 30 per cent (TSX), and about 58 per cent (AMEX). In the past decade, the total return on Imperial's shares has averaged more than 18 per cent per year. Dividend payments have been paid every year for more than a century, and regular dividend payments have increased in each of the past 9 years. Since 1995, nearly 220 million shares have been purchased, reducing the number of outstanding shares by 38 per cent, representing a total distribution to shareholders of about $6 billion over this period. Major projects in natural resources have included expansion at Syncrude, increased production at Cold Lake, progress in the project to develop natural gas resources in the Mackenzie Delta, and plans to develop Kearl oil sands properties near Fort McMurray, Alberta. There were also promising exploration opportunities off Canada's east coast. Employee safety performance in 2003 was the best on record. This report summarized the company's energy resource activities and presented an operations review as well as consolidated financial statements, and common share information. This included the accounts of Imperial Oil Inc. and its subsidiaries and the company's proportionate share of the assets, liabilities, revenues, expenses and cash flows of joint ventures. Revenue and expenditure statements were summarized by source. tabs., figs

  4. Emotional intelligence model for directors of research centers in mexico

    Mara Maricela Trujillo Flores


    H5 Social skills exhibited by directors, that are also part of interpersonal intelligence, allow a director to exert a greater influence on the working group, facilitating communication, conflict management, leadership, collaboration, cooperation and development of team skills.

  5. Linkage of management decision to shareholder's value: EVA concept

    Shrikant Krupasindhu Panigrahi


    Full Text Available In this paper, the author investigated the influence of management decisions like capital structure, dividend policies, remunerations, credit policy decisions and investment decisions on shareholder wealth maximization. To achieve the objective, portfolio theory, capital asset pricing model and modern financial theory providing evidence on the linkage between management decisions to shareholder’s value. Shareholders are only concerned about the value of shares of the company and the amount of return in the form of dividend paid. Thus in order to meet the demands of the shareholders of the company, managers needs to increase their abilities and skills to overcome the organizational goals. Thus the main goal of this paper is to discuss on the role of management decisions towards increasing shareholder’s wealth and meet organizational goals.

  6. United we stand : Corporate Monitoring by Shareholder Coalitions in the UK

    Crespi, R.; Renneboog, L.D.R.


    This paper investigates whether voting coalitions are formed by shareholders in order to discipline incumbent management. Shapley values capturing the relative power of shareholder coalitions by category of owner, outperform models with percentage ownership stakes and models measuring the relative

  7. Economic incentives of family controlling shareholders and the monitoring role of non-dominant large shareholders in corporate governance: Evidence from the manufacturing firms in Malaysia

    Chin Fei Goh


    Full Text Available This article explores the economic incentives of dominant controlling shareholders with regard to the expropriation of minority shareholders, on the one hand, and the monitoring role of non-dominant large shareholders in family firms, on the other. The authors argue that family controlling shareholders (or family owners do not share common interests with other shareholders. Drawing on 141 family firms in the manufacturing sector that were listed on Bursa Malaysia (the Malaysian stock exchange from 2003 to 2006, the article finds an inverted U-shaped relationship between excess control rights and a firm's market performance. The findings also show that both the cash flow rights (i.e. claims on cash payouts of family controlling shareholders and the presence of non-dominant large shareholders with the ability to contest control of the firm have a positive relationship with market performance.  This study contributes to the literature by indicating that family owners are unlikely to collude with other large shareholders to expropriate minority shareholders. Furthermore, low levels of excess family-owner control rights are beneficial for market performance because firms may benefit from group affiliations and receive patronage from wealthy owners. However, high levels of excess control rights are understood to be an economic incentive for family owners to expropriate minority shareholders during non-crisis periods.

  8. Examining the concept of de facto director in corporate governance

    Anthony O. Nwafor


    Full Text Available There are different categories of persons involved in the execution of the company’s affairs, but not all have the capacity to bind the company as the embodiment of the company itself. Those who exercise acts of management and control over the company’s business are usually referred to as the directors. Where persons who satisfy the statutorily prescribed qualification standard are duly appointed by the shareholders to exercise control and manage the affairs of the company function in that capacity, they are usually identified as de jure directors. But where there is no such appointment, or irregular appointment, the law demands, for the protection of those dealing with the company, that the role performed by the person be examined to ascertain whether such a person is a de facto director. The more difficult part lies in identifying a de facto director where the subject company has a corporate body as its director. The extant judicial authority suggests that the human person in the corporate director must be performing functions which are beyond the natural call of duty in relation to the corporate director to constitute a de facto director of the subject company. The paper argues that the standard is satisfied in any case where the human person is involved in the initiation and execution of the affairs of the subject company, and more so where the conducts of the subject company are patently unlawful.

  9. 78 FR 79650 - Definitions and Reporting Requirements for Shareholders of Passive Foreign Investment Companies


    ... for shareholders that constructively own interests in certain foreign corporations. The temporary... to their PFIC interests. The temporary regulations also affect certain shareholders that rely on a... that most small entities do not own an interest in a PFIC, and the fact that PFIC shareholders...

  10. Do UK Institutional Shareholders Monitor their Investee Firms?

    Goergen, M.; Renneboog, L.D.R.; Zhang, C.


    As institutional investors are the largest shareholders in most listed UK firms, one expects them to monitor the firms they invest in. However, there is mounting empirical evidence which suggests that they do not perform any monitoring. This paper provides a new test on whether UK institutional

  11. Dealing with Non-Controlling Shareholders : Issues and Best Practice

    World Bank


    There is ample evidence today that demanding best practice standards of good corporate governance and convincing enforcement processes lead to higher market valuations of enterprises in free capital markets. This paper contains the following headings: key prerequisites for success with non-controlling shareholders; institutional investors have a fiduciary duty to act convincingly in the in...

  12. The effects of takeover threats of shareholders and firm value

    Haan, Marco; Riyanto, Yohanes


    We study the role of takeover threats as a corporate control mechanism using Aghion and Tirole's (1997) model of formal and real authority. Shareholders do not monitor the manager's actions, since ownership is widely dispersed. A corporate raider may monitor, and steps in if a profit opportunity

  13. The effects of takeover threats of shareholders and firm value

    Haan, Marco; Riyanto, Yohanes


    Abstract We study the role of takeover threats as a corporate control mechanism using Aghion and Tirole's (1997) model of formal and real authority. Shareholders do not monitor the manager's actions, since ownership is widely dispersed. A corporate raider may monitor, and steps in if a prot

  14. 26 CFR 1.854-2 - Notice to shareholders.


    ... shall, upon notice by the Internal Revenue Service that the regulated investment company has failed to... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Notice to shareholders. 1.854-2 Section 1.854-2 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED...

  15. 26 CFR 1.853-3 - Notice to shareholders.


    ... respect to the holders of interest in the unit investment trust, it shall so notify the Internal Revenue... Internal Revenue Service that the regulated investment company has failed to comply with the agreement... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Notice to shareholders. 1.853-3 Section 1.853-3...

  16. Shareholder Activism through Proxy Proposals : The European Perspective

    Cziraki, P.; Renneboog, L.D.R.; Szilagyi, P.G.


    This paper is the first to investigate the corporate governance role of shareholderinitiated proxy proposals in European firms. While proposals in the US are nonbinding even if they pass the shareholder vote, they are legally binding in the UK and most of Continental Europe. Nonetheless, submissions

  17. 26 CFR 1.302-4 - Termination of shareholder's interest.


    ...) Avoidance of Federal income tax. Section 302(c)(2)(B) provides that section 302(c)(2)(A) shall not apply— (1... one of its principal purposes the avoidance of Federal income tax merely because the transferee is in... TAX (CONTINUED) INCOME TAXES Effects on Recipients § 1.302-4 Termination of shareholder's interest...

  18. Stakeholder versus Shareholder Satisfaction in Corporate Risk Management

    Aabo, Tom


    Inherent in corporate governance is the conflict between satisfying stakeholders in general versus satisfying shareholders in particular. This empirical study of Danish non-financial companies finds that companies which state that their aim is to satisfy stakeholders in general ("stakeholder...

  19. Ownership dynamics with large shareholders : An empirical analysis

    Donelli, M.; Urzua Infante, F.; Larrain, B.


    We study the empirical determinants of corporate ownership dynamics in a market where large shareholders are prevalent. We use a unique, hand-collected 20-year dataset on the ownership structure of Chilean companies. Controllers’ blockholdings are on average high -as in continental Europe, for

  20. Conditions for exercising shareholders' right to ask questions

    Radović Vuk


    Full Text Available Law on Business Organizations from 2011 has significantly improved the regulation of shareholders' right to ask questions in Serbia. In contrast to the previous law from 2004, that has completely transferred regulation to companies which is why there was no guarantee for exercising this right, new law contains detailed norms in this respect. They are written under the dominant influence of German law and are completely harmonized with the Shareholders' Rights Directive. All important issues of shareholders' right to ask questions have been regulated mostly with imperative norms (subject of the right, conditions for exercising this right, debtor of this obligation, court protection, etc.. Corporations have a lot of freedom to adjust exercising this right to their needs, but only by giving more rights to shareholders. Limiting the scope of this right is possible only in certain, precisely defined areas. Although the general impression of the new regulation is very positive, there are certain aspects which can be criticized. Some of them can be cured by adequate judicial interpretation, while others cannot be cured without changes to the law. In the area of conditions for exercising this right, the most important deficiency is the fact that the law has not determined when the right to ask questions can be exercised, and that stands in obvious disharmony with the adopted conception to regulate all important aspects of this right. Contrary to conditions, which basically have been properly formulated, other aspects of legislation regarding this shareholders' right contain more profound obscurities that go beyond the scope of this paper.

  1. An Empirical Analysis of Latin American Board of Directors and Minority Shareholders’ Rights

    Marisela Santiago


    Full Text Available This paper examines the link between corporate governance structures and the potential for expropriation of minority shareholders’ rights. Analysis of 97 firms from Brazil, Chile and Mexico that traded ADR shares in the United States between 2000 and 2002, indicates that increasing the size of the board by inclusion of additional independent outside directors lowers the potential for expropriation of minority shareholders’ rights. Also, increases in the tenure of independent outside directors, decreases in CEOs’ shareholdings and more interlocking directors on a board all serve to lower the potential for expropriation of minority shareholders’ rights.

  2. Value-based management: Theoretical base, shareholders' request and the concept

    Kaličanin Đorđe M.


    Full Text Available The pressure of financial markets, which is a consequence of shareholder revolution, directly affects the solution to the following dilemma: is the mission of corporations to maximize shareholders' wealth or to satisfy interests of other stakeholders? The domination of shareholder theory has caused the appearance of the valuebased management concept. Value-based management is a relevant concept and a process of management in modern environment. The importance of shareholder value requires transformation of traditional enterprise into value driven enterprise. This paper addresses theoretical base, shareholder revolution and the main characteristics of value-based management.

  3. Director and Officer Liability in the Zone of Insolvency; A Comparative Analysis

    HH Rajak


    Full Text Available It is the duty of the directors of a company to run the business of the company in the best interests of the company and its shareholders. In principle, the company, alone, is responsible for the debts incurred in the running of the company and the creditors are, in principle, precluded from looking to the directors or shareholders for payment of any shortfall arising as a result of the company's insolvency. This principle has, in a number of jurisdictions undergone statutory change such that in certain circumstances, the directors and others who were concerned with the management of the company may be made liable to contribute, personally, to meet the payment – in part or entirely – of the company's debts. This paper aims to explore this statutory jurisdiction. It also seeks to describe succinctly the process by which the shift from unlimited to limited liability trading was achieved. It will end by examining briefly a comparatively new phenomenon, namely that of a shift in the focus of the directors' duties from company and shareholders to the creditors as the company becomes insolvent and nears the stage of a formal declaration of its insolvent status – the so-called 'zone of insolvency'.

  4. Shareholder, stakeholder-owner or broad stakeholder maximization

    Mygind, Niels


    With reference to the discussion about shareholder versus stakeholder maximization it is argued that the normal type of maximization is in fact stakeholder-owner maxi-mization. This means maximization of the sum of the value of the shares and stake-holder benefits belonging to the dominating...... including the shareholders of a company. Although it may be the ultimate goal for Corporate Social Responsibility to achieve this kind of maximization, broad stakeholder maximization is quite difficult to give a precise definition. There is no one-dimensional measure to add different stakeholder benefits...... not traded on the mar-ket, and therefore there is no possibility for practical application. Broad stakeholder maximization instead in practical applications becomes satisfying certain stakeholder demands, so that the practical application will be stakeholder-owner maximization un-der constraints defined...

  5. Perspektif Shareholding Versus Stakeholding di Dalam Memahami Fenomena Corporate Governance

    Niki Lukviarman


    Full Text Available This paper challenges the notion of “universalist” or “one-size-fits-all” approach to corporate govern¬ance. It considers different perspective of understanding organization (corporations which in turn generate alter¬nate paradigms concerning the issue of corporate governance and the way one could govern the corporation. It looks more closely of various assumptions and theoretical frameworks underpinning the governance concepts. The main proposition of this paper is that different perspectives in theory and paradigms result in different diagno¬ses of and the solutions to the problems of corporate governance in practice. Hence, it might be argued that there should be varies model of governance that should be considered based on specific characteristics of organization -and of different context- in order for such model to be effective.Keywords: shareholding, stakeholding, corporate governance, shareholder rights, corporate efficiency

  6. Private shareholding: An analysis of an eclectic group of central banks

    Jannie Rossouw


    Large differences in the classes of shareholders of these eclectic central banks and differences in their approaches to dividend payments are highlighted in the paper. The conclusions reached are, firstly, that investment only in the shares of the central banks of Belgium and Greece (albeit only for residents in the latter instance can be regarded as growth investments. Secondly, shareholding in the Italian central bank has been used to recapitalise ailing commercial banks. Thirdly, shareholders play no role in the formulation and implementation of monetary policy. Lastly, the shareholding structure of these banks contributes to improved governance in the case of the central banks of Belgium, Greece, Italy, South Africa, Switzerland and Turkey, but no evidence can be found that central banks with shareholders in any way outperform central banks without shareholders.

  7. Retained State Shareholding in Chinese PLCs: Does Government Ownership Reduce Corporate Value?

    Estrin, Saul; Tian, Lihui


    The role of government shareholding in corporate performance is central to an understanding of China’s newly privatized large firms and the stock market. In this paper, we analyse shareholders as agents that can both harm and benefit companies. We examine the ownership structure of 826 listed corporations and find that government shareholding is surprisingly large. Its effect on corporate value is found to be negative, but non-monotonic. Up to a certain threshold, corporate value decreases as...

  8. Shareholder Kapitalismus und das Casino Spiel an den Börsen

    Young, Brigitte; Hegelich, Simon


    'Das Konzept des Shareholder Value ist durch die jüngsten Entwicklungen im Unternehmenssektor, vor allem durch die Bilanz- und Betrugsskandale von TNC's und die damit verbundene Vernichtung von Arbeitsplätzen in die Kritik geraten. In den politischen Debatten über Shareholder Value wird ein Systemunterschied zwischen dem 'Stakeholder-Ansatz' (wie im rheinischen Kapitalismus) und dem mit der Liberalisierung der Finanzmärkte Ende der 70er Jahre in den USA entwickelten Begriff Shareholder Value ...

  9. Shareholder/Stakeholder Value Management, Company Growth and Financial Performance: An Exploratory Study

    Ekholm, Bo-Göran; Wallin, Jan


    There has been considerable discussion in the literature about the relative merits of shareholder value management and stakeholder value management, but relatively little empirical research has been reported concerning the relationship between these types of management and financial performance. The present study puts forward a hypothesis that true shareholder value management also encompasses stakeholder value management. This combination of shareholder/stakeholder value management is hypoth...

  10. Performance satisfaction, shareholder and stakeholder orientations: Managers´ perceptions in three countries across continents

    Georgios Angelopoulos


    Full Text Available Managers working in South Africa, Peru and the United States were classified as stakeholder- and/or shareholder-oriented along the Perceived Role of Ethics and Social Responsibility (PRESOR scale. The relationship between stakeholder/shareholder orientation and perceptions of organisational performance was further explored. In South Africa and overall, respondents with both high stakeholder and low shareholder orientations reported the greatest performance satisfaction. In Peru, managers with a high stakeholder orientation reported the greatest satisfaction with organisational performance. A significant link between stakeholder or shareholder orientation and performance satisfaction was not found in the United States, however. Directions for future research are outlined.

  11. Corporate Governance in Shareholding Companies: Comparing Legal Perspective and Position of Shari’ah

    Aznan, H.


    Full Text Available This study examines the concept of corporate governance in shareholding companies and the legal perspective in comparison with the position of Shari’ah. The purpose of governance is to instil confidence among the stakeholders that the Boards of Directors are applying a diligent legal and administrative framework, to avoid potential administrative and financial failures and corruption. The study has proceeded by defining the concept of governance from linguistics, accounting, administrative, and legal perspectives. The study also discusses the stands of international organisations on the issue of corporate governance. Then, it is proceeded by discussing the concept of corporate governance from Shari’ah point of view. The study found that even with the absence of the term “company governance” in Islamic Law, the concept of corporate governance is in line with the Shari’ah and that their scholars have clearly referred to it in their literature. The study has used the descriptive, analytical, inductive and comparative methodology in analyzing the subject matter.

  12. Who should set CEO pay? The press? Congress? Shareholders?

    Brownstein, A R; Panner, M J


    Populist fervor in an election year has transformed executive compensation from a business issue into a political one. Critics, led by Graef Crystal, author of In Search of Excess: The Overcompensation of American Executives, charge that CEOs are ripping off shareholders with their outrageous salaries while running U.S. corporations into the ground. Politicians claim overpaid CEOs are the root cause of the U.S. competitiveness problem. Add a recessionary business climate to the fact that some CEOs earn 130 times more than their lowest paid employees, and you have the makings of a populist rebellion. In a bid to appease voters, Congress is considering several bills that would limit the deductibility of "excessive executive salaries," the SEC has opened the issue to shareholder comment, and the Financial Accounting Standards Board is looking at new accounting standards for granting stock options to executives as part of company compensation schemes. Andrew R. Brownstein and Morris J. Panner say it's time to put the debate back where it belongs--in a business context. The real question is not are executives paid too much, but are shareholders getting their money's worth. Most U.S. corporations use stock compensation to link company long-term performance to executive salaries. And because of the staggering market performance of U.S. corporations in the 1980s, an overwhelming majority of CEOs are actually paid in line with their performance. Rather than cut executive pay, Brownstein and Panner suggest that corporations extend incentive-based compensation plans to all employees, thus narrowing the salary gap and establishing pay for performance at every level of the organization.

  13. The fiduciary duties of healthcare directors in the "zone of insolvency".

    Peregrine, Michael W; Schwartz, James R; Burgdorfer, James E; Gordon, David C


    Directors of healthcare organizations normally owe fiduciary duties to their shareholders or, in the case of nonprofits, to the charitable mission of the organization. As an organization descends to bankruptcy, however, the board's duties may shift. At some point, the board may be imposed with different and often conflicting obligations to the corporate enterprise as a whole, with a primary criterion being the interests of creditors. In this article, the authors analyze the murky areas of the Zone and give guidance as to when the board's duty may shift-and as to how directors should proceed both in determining their duties and in working to fulfill them.

  14. Director`s series on proliferation

    Bailey, K.C.; Price, M.E. [eds.


    The Director`s Series on Proliferation is an occasional publication of essays on the topics of nuclear, chemical, biological, and missile proliferation. The seven papers presented in this issue cover the following topics: Should the Treaty on the Nonproliferation of Nuclear Weapons (NPT) be amended?; NPT extension - Legal and procedural issues; An Indonesian view of NPT review conference issues; The treaty of Tlatelolco and the NPT - Tools for peace and development; Perspectives on cut-off, weapons dismantlement, and security assurances; Belarus and NPT challenges; A perspective on the chemical weapons convention - Lessons learned from the preparatory commission.

  15. DSM shareholder incentives: Current designs and economic theory

    Stoft, S.; Eto, J.; Kito, S.


    This report reviews recent DSM shareholder incentive designs and performance at 10 US utilities identifies opportunities for regulators to improve the design of DSM shareholder incentive mechanisms to increase the procurement of cost-effective DSM resources. We develop six recommendations: (1) apply shared-savings incentives to DSM resource programs; (2) use markup incentives for individual programs only when net benefits are difficult to measure, but are known to be positive; (3) set expected incentive payments based on covering a utility's open-quotes hidden costs,close quotes which include some transitional management and risk-adjusted opportunity costs; (4) use higher marginal incentives rates than are currently found in practice, but limit total incentive payments by adding a fixed charge; (5) mitigate risks to regulators and utilities by lowering marginal incentive rates at high and low performance levels; and (6) use an aggregate incentive mechanism for all DSM resource programs, with limited exceptions (e.g., information programs where markups are more appropriate)

  16. Regulation of Say on Pay: Engineering Incentives for Executives and Directors – Experiences from the United States and Implications for Regulation in Switzerland

    Müller, Lukas


    The debate about the compensation of executives and directors is a discussion about incentives and agency costs. This article analyzes basic tools to reduce agency costs and also assesses the ongoing debate about the future regulation of the compensation of executives and directors. It draws upon legislative experience from the United States. Recently proposed legislation in Switzerland attempts to empower shareholders with the draft of the Swiss Code of Obligations (CO). The main motivation ...

  17. ‘The more the merrier’ : What drives (small) shareholder attendance at annual general meetings

    Lafarre, Anne


    This study investigates an important but under-researched topic in Europe, the small shareholder turnout decision. We assess which factors contribute to (small) shareholder participation using a hand-collected panel dataset with information about turnout rates, voting behaviour, and ownership

  18. 26 CFR 1.883-4T - Qualified shareholder stock ownership test (temporary).


    ... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Qualified shareholder stock ownership test... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Foreign Corporations § 1.883-4T Qualified shareholder stock... the stock; (D) If the individual directly owns an interest in a corporation, partnership, trust...

  19. 77 FR 60959 - Basis of Indebtedness of S Corporations to Their Shareholders; Hearing Cancellation


    ... Basis of Indebtedness of S Corporations to Their Shareholders; Hearing Cancellation AGENCY: Internal... Revenue Code; relating to basis of indebtedness of S corporations to their shareholders. DATES: The public... rulemaking and notice of public hearing instructed those interested in testifying at the public hearing to...

  20. Linking customer and financial metrics to shareholder value : The leverage effect in customer-based valuation

    Schulze, C.; Skiera, B.; Wiesel, T.

    Customers are the most important assets of most companies, such that customer equity has been used as a proxy for shareholder value. However, linking customer metrics to shareholder value without considering debt and non-operating assets ignores their effects on relative changes in customer equity

  1. Hedge Fund Activism and the Revision of the Shareholder Rights Directive

    A.M. Passes (Alessio)


    markdownabstractThis paper looks at shareholder activism from the perspective of the revision of the EU Shareholder Rights Directive, which was approved by the European Parliament on 14 March 2017. The main findings are as follows. First, the effective engagement of institutional investors in

  2. Why Do Firms Invest in Consumer Advertising with Limited Sales Response? A Shareholder Perspective

    Osinga, Ernst C.; Leeflang, Peter S. H.; Srinivasan, Shuba; Wieringa, Jaap E.

    Marketing managers increasingly recognize the need to measure and communicate the impact of their actions on shareholder returns. This study focuses on the shareholder value effects of pharmaceutical direct-to-consumer advertising (DTCA) and direct-to-physician (DTP) marketing efforts. Although DTCA

  3. 26 CFR 1.852-4 - Method of taxation of shareholders of regulated investment companies.


    ... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Method of taxation of shareholders of regulated investment companies. 1.852-4 Section 1.852-4 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE... Investment Trusts § 1.852-4 Method of taxation of shareholders of regulated investment companies. (a...

  4. 26 CFR 1.857-6 - Method of taxation of shareholders of real estate investment trusts.


    ... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Method of taxation of shareholders of real estate investment trusts. 1.857-6 Section 1.857-6 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT...-6 Method of taxation of shareholders of real estate investment trusts. (a) Ordinary income. Except...

  5. 26 CFR 1.853-1 - Foreign tax credit allowed to shareholders.


    ... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Foreign tax credit allowed to shareholders. 1....853-1 Foreign tax credit allowed to shareholders. (a) In general. Under section 853, a regulated... paid by it pursuant to any income tax convention, as either a credit (under section 901) or as a...

  6. Shareholder composition, share turnover, and returns in volatile markets : The case of international REITs

    Brounen, Dirk; Kok, N.; Ling, D.C.


    The shareholder composition of listed property companies has changed from the fragmented, retail ownership, to more concentrated, institutional ownership over the past decade. In this paper, we first document significant variation in the composition of the shareholder base across the world's five

  7. 26 CFR 1.164-7 - Taxes of shareholder paid by corporation.


    ... 26 Internal Revenue 2 2010-04-01 2010-04-01 false Taxes of shareholder paid by corporation. 1.164...) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Itemized Deductions for Individuals and Corporations § 1.164-7 Taxes of shareholder paid by corporation. Banks and other corporations paying taxes assessed...

  8. Facilitating investment in affordable housing : Towards an Australian model. Draft

    Lawson, J.M.; Berry, M.; Milligan, V.; Yates, J.


    This paper argues that sustainable and affordable finance provides a crucial pillar to support the provision of affordable housing in the long term. This finance can take on a variety of forms, comprising grants, public loans, commercial loans as well as shareholder equity. It can be facilitated by


    Rus Luminita


    Full Text Available The present analyses, based on a case study show the influence on the financial balance of the loans from shareholders , taking into account the accounting treatment of loans. We do not know that the Romanian economic literature to be treated that aspect. That is why we consider the study as being useful to managers, members, shareholders, and all business partners to form the economic decisions. The purpose of this financial analysis is to examine critically the accounting and financial information ofered by the companies to assess their performance and their financial position (Laurence Le Gallo. The financial position of firms is assessed based on the financial structure and financial balance. In a same time the financial balance is approached from a static perspective based on the: net situation, working capital, necessary of working capital, net treasury. The present analyses deals with financial balance in a static manner based on these four indicators listed. The sources of data for the analysis of financial balance are offered mainly in the financial statement. This document has been used data from a company that is engaged in the carriage of goods. Analysis was made over a period of five years. The present analysis showed that financial balance is influenced by the way that the shareholders loans to the company are treated by including them in long-term debt or short-term. Reprocessing of loans and their inclusion in long-term debt, changes the perspective on financial balance showing that on the long-term company has a stable balance. These aspects require preparation of loan agreements with associates as loans work in reality. The contracts must to highlight the progress of the loan on the long term and not to be extended or remodeled the short-term contracts. Of course, there are always solutions to improve the financial balance and in this way the financial position and the performance of the company. However, the proposed solutions

  10. 12 CFR 215.9 - Disclosure of credit from member banks to executive officers and principal shareholders.


    ... individual for the purposes of determining principal shareholder status. (2) Related interest means: (i) Any... executive officers and principal shareholders. 215.9 Section 215.9 Banks and Banking FEDERAL RESERVE SYSTEM... SHAREHOLDERS OF MEMBER BANKS (REGULATION O) § 215.9 Disclosure of credit from member banks to executive...

  11. Case Management Directors

    Bankston White, Cheri; Birmingham, Jackie


    Purpose and Objectives: Case management directors are in a dynamic position to affect the transition of care of patients across the continuum, work with all levels of providers, and support the financial well-being of a hospital. Most importantly, they can drive good patient outcomes. Although the position is critical on many different levels, there is little to help guide a new director in attending to all the “moving parts” of such a complex role. This is Part 2 of a two-part article written for case management directors, particularly new ones. Part 1 covered the first 4 of 7 tracks: (1) Staffing and Human Resources, (2) Compliance and Accreditation, (3) Discharge Planning and (4) Utilization Review and Revenue Cycle. Part 2 addresses (5) Internal Departmental Relationships (Organizational), (6) External Relationships (Community Agency), and (7) Quality and Program Outcomes. This article attempts to answer the following questions: Are case management directors prepared for an expanded role that affects departments and organizations outside of their own?How does a case management director manage the transition of care of patients while managing required relationships outside the department?How does the director manage program outcomes in such a complex department? Primary Practice Setting: The information is most meaningful to those case management directors who work in either stand-alone hospitals or integrated health systems and have frontline case managers (CMs) reporting to them. Findings/Conclusions: Part 1 found that case management directors would benefit from further research and documentation of “best practices” related to their role, particularly in the areas of leadership and management. The same conclusion applies to Part 2, which addresses the director's responsibilities outside her immediate department. Leadership and management skills apply as well to building strong, productive relationships across a broad spectrum of external organizations

  12. 26 CFR 1.1297-3 - Deemed sale or deemed dividend election by a U.S. person that is a shareholder of a section 1297...


    .... However, the shareholder is also liable for interest on the amount due, pursuant to section 6601.... person that is a shareholder of a section 1297(e) PFIC. 1.1297-3 Section 1.1297-3 Internal Revenue... by a U.S. person that is a shareholder of a section 1297(e) PFIC. (a) In general. A shareholder (as...

  13. Rhetorical impression management in the letter to shareholders and institutional setting : A metadiscourse perspective

    Aerts, Walter; Yan, Beibei


    Purpose Using composite style measures of the letter to shareholders, we elaborate dominant rhetorical profiles and qualify them from an impression management perspective. In addition, we examine how institutional differences affect rhetorical profiles by comparing intensity and contingencies of

  14. 17 CFR 270.30d-1 - Filing of copies of reports to shareholders.


    ... shareholders. A registered management investment company, other than a small business investment company... and procedures specified therefor, of reports on Form N-CSR (§§ 249.331 and 274.128 of this chapter...

  15. Rent extraction by large shareholders: evidence using dividend policy in the Czech Republic

    Hanousek, Jan; Bena, Jan

    -, č. 556 (2006), s. 1-38 R&D Projects: GA ČR GA402/06/1293 Institutional research plan: CEZ:AV0Z70850503 Keywords : rent extraction * large shareholders * dividend policy Subject RIV: AH - Economics

  16. Empty creditors and strong shareholders: The real effects of credit risk trading. Second draft

    Colonnello, Stefano; Efing, Matthias; Zucchi, Francesca


    Credit derivatives give creditors the possibility to transfer debt cash flow rights to other market participants while retaining control rights. We use the market for credit default swaps (CDSs) as a laboratory to show that the real effects of such debt unbundling crucially hinge on shareholder bargaining power. We find that creditors buy more CDS protection when facing strong shareholders to secure themselves a valuable outside option in distressed renegotiations. After the start of CDS trad...

  17. Evaluating whether the merger created shareholder value: the market's perception

    Gallen, B. L.


    Factors that have a bearing on determining whether a particular merger created shareholder value were examined with the caveat that since there are a large number of factors that impact upon stock prices, it is not possible to attribute any one factor as the most significant determinant responsible for the current price of a stock. Cash flow is perhaps the most important measure of growth, however, per share growth is increasingly being recognized as important, particularly on the international scene. Mergers can also be rated by what was paid in dollars for every barrel of oil equivalent in reserves. Another indicator of value may be the price to cash flow comparison of each company involved in the transaction. Expensive paper of a company trading at a higher price/cash flow multiple exchanged for the assets of the cheaper paper of a company trading at a lower price/cash flow multiple will, in general, receive a higher multiple than it had before. This is especially true if the purchase includes good, growing assets, preferably complementary to the acquiring company's current holdings. The likelihood of success is also increased by the absence of personnel conflict, especially at the top. All of these indicators are useful, but no substitutes for caution and prudence in today's industry environment

  18. Role of independent director in corporate governance – Reference to India

    Indrajit Dube


    Full Text Available A company is the common platform of various stakeholders, such as customers, employees, investors, shareholders etc.. It is an instrument that can attract huge capital for doing business. Every transaction in a company should be fair and transparent to its stakeholders. A company having good Corporate Governance and an effective Board of Directors attract investors and ensure investment. Independence of the Board is critical to ensure that the board fulfills its role objectively and holds the management accountable to the company. The practice across jurisdictions indicates that the presence of Independent Director is answer to that. The present write up delves into the current scenario in Indian Corporate Sector and examine the role of Independent Director in Corporate Governance, in particular.

  19. Culham names new director


    "The United Kingdom Atomic Energy Authority (UKAEA) announced the appointment of Professor Sir Chris Llewellyn Smith FRS (Fellow of the Royal Society) as Director of Culham, responsible for developing and implementing the strategy for the UK's fusion research programme" (1 page).

  20. Ideas for Directors.

    Child Care Information Exchange, 1987


    Presents child care center directors with a variety of relevant management ideas from business and the child care field. They include translating employee body language; leadership myths; on-the-job teacher training; undesirable bosses; wasting employee talent; voicing disagreement; employee anger; encouraging creativity; and coping with late…

  1. Director Networks and Takeovers

    Renneboog, L.D.R.; Zhao, Y.


    Abstract: We study the impact of corporate networks on the takeover process. We find that better connected companies are more active bidders. When a bidder and a target have one or more directors in common, the probability that the takeover transaction will be successfully completed augments, and

  2. Director networks and takeovers

    Renneboog, L.D.R.; Zhao, Y.


    We study the impact of corporate networks on the takeover process. We find that better connected companies are more active bidders. When a bidder and a target have one or more directors in common, the probability that the takeover transaction will be successfully completed augments, and the duration




    Full Text Available The management of a regional customs directorate is analyzed. A new approach of the managerial system, in the European integration context, is presented. The customs system is one of the first “doors” to a new economic, social and cultural community. For

  4. Director, Platform and Audience.

    Meyer, Richard D.

    The open stage is discussed both as architecture and as part of a new theatrical style. In reference to use of the open stage, emphasis is given to specifics with which the director must deal, to special problems of the actor, to the approach to blocking a play, and to the open stage as "theatrical experience". The architectural advantage of the…

  5. Message from Fermilab Director


    With this issue’s message, Fermilab Director Pier Oddone opens a new series of occasional exchanges between CERN and other laboratories world-wide. As part of this exchange, CERN Director-General Rolf Heuer, wrote a message in Tuesday’s edition of Fermilab TodayPerspectivesNothing is more important for our worldwide particle physics community than successfully turning on the LHC later this year. The promise for great discoveries is huge, and many of the plans for our future depend on LHC results. Those of us planning national programmes in anticipation of data from the LHC face formidable challenges to develop future facilities that are complementary to the LHC, whatever the physics discoveries may be. At Fermilab, this has led us to move forcefully with a programme at the intensity frontier, where experiments with neutrinos and rare decays open a complementary window into nature. Our ultimate goal for a unified picture of nat...

  6. Beam director design report

    Younger, F.C.


    A design and fabrication effort for a beam director is documented. The conceptual design provides for the beam to pass first through a bending and focusing system (or ''achromat''), through a second achromat, through an air-to-vacuum interface (the ''beam window''), and finally through the vernier steering system. Following an initial concept study for a beam director, a prototype permanent magnet 30 0 beam-bending achromat and prototype vernier steering magnet were designed and built. In volume II, copies are included of the funding instruments, requests for quotations, purchase orders, a complete set of as-built drawings, magnetic measurement reports, the concept design report, and the final report on the design and fabrication project

  7. Discussion with CERN Directorate

    CERN. Geneva


    Please note that the Discussion with CERN Directorate will be transmitted also in the following rooms: Council Chamber - 503-1-001 IT Amphitheatre - 31-3-004 Prevessin 774-R-013 Simultaneous interpreting into French and English will be available in the Main Auditorium. Une interprétation simultanée en français et en anglais sera disponible dans l'amphithéâtre principal.

  8. Lands directorate publications


    The directorate has a lead role in providing advice to the federal government on land use policy in Canada. The Canada Land Inventory (CLI) Program has produced significant amounts of data pertaining to the capability of Canadian lands to support agriculture, forestry, recreation, wildlife and sport fish. A list of CLI reports is presented in this publication. In addition, and capability maps have been compiled for agricultural, forestry, recreation and wildlife and are listed and described in this publication. (KRM)

  9. A new compact for owners and directors. The Working Group on Corporate Governance.


    The virtual demise of hostile takeovers and leveraged buyouts has not cooled the tensions over corporate governance. In congressional hearings, at annual meetings, and in proxy contests splashed across the business pages, senior executives and powerful shareholders continue to confront each other. The basic issues remain remarkably consistent. When do investors' legitimate needs for returns translate into destructive pressures on long-term corporate prosperity? What kinds of accountability do top managers owe shareholders in terms of strategic consultation and disclosure? What is the precise role of the board of directors as a management monitor and shareholder representative? More than a year ago, a working group of distinguished lawyers representing large public companies and leading institutional investors began a series of meetings to cut through the rancor. Their goal was to reach common ground on a set of principles that reconciles the tensions between owners and managers. Recently, the group agreed on a statement that all eight members endorsed. The statement, "A New Charter for Owners and Managers," deserves wide readership, scrutiny, and commentary. HBR is pleased the working group chose it as the exclusive forum to release its statement.

  10. An Analysis of the Influence of Controlling Shareholder Identity over Earnings Informativeness on Brazilian Capital Market

    Rodrigo Vicente Prazeres


    Full Text Available This paper aimed to investigate the influence of controlling shareholder identity over earnings informativeness and to contribute empirically on the advance on the understanding of the agency conflict between controlling shareholders and minority investors through the lens of value relevance. The research sample considered 104 shares of non-financial firms negotiated on BM&FBovespa from 2011 to 2016. The methodology was conducted through panel data regression analysis. As results, this paper concludes with the following findings: i the higher the control/vote power of controlling shareholder (ownership concentration and the lower the stock liquidity, the less informative are the earnings and the greater is the probability of entrenchment and wealth expropriation by controlling shareholders; ii larger firms and highly leveraged firms have more informative earnings; iii the stock prices reflect the controlling shareholder identity; iv Firms controlled by financial institutions, nonfinancial institutions and the government are much more likely to expropriate minority investors wealth and have less informative earnings; v family firms are positively priced by the market.

  11. 'I Paid for this Microphone!' The Importance of Shareholder Theory in (Teaching Business Ethics

    David Levy


    Full Text Available Two prominent normative theories of business ethics are stakeholder and shareholder theory. Business ethicists generally favor the former, while business people prefer the latter. If the purpose of business ethics is “to produce a set of ethical principles that can be both expressed in language accessible to and conveniently applied by an ordinary business person” (Hasnas 1998, then it is important to examine this dichotomy.While superficially attractive, the normative version of stakeholder theory contains numerous limitations. Since balancing multiple stakeholder preferences is difficult, competing claims often become tests of political strength rather than justice. Furthermore, stakeholder theory has significant normative weaknesses.Although less attractive to academic ethicists, shareholder theory may provide superior results for society. The shareholder model focuses companies on meeting society’s material needs. Wise owners often balance other stakeholders’ views well since it is necessary for the business’s long-term success. Finally, shareholder theory has a strong normative basis in autonomy.In light of this analysis, it is incumbent upon academic business ethicists to emphasize the value of shareholder theory when teaching business ethics courses.

  12. Identification of shareholder ethics and responsibilities in online reverse auctions for construction projects.

    Hatipkarasulu, Yilmaz; Gill, James H


    The increasing number of companies providing internet services and auction tools helped popularize the online reverse auction trend for purchasing commodities and services in the last decade. As a result, a number of owners, both public and private, accepted the online reverse auctions as the bidding technique for their construction projects. Owners, while trying to minimize their costs for construction projects, are also required to address their ethical responsibilities to the shareholders. In the case of online reverse auctions for construction projects, the ethical issues involved in the bidding technique directly reflects on the owner's ethical and social responsibilities to their shareholders. The goal of this paper is to identify the shareholder ethics and responsibilities in online reverse auctions for construction projects by analyzing the ethical issues for the parties involved in the process. The identification of the ethical issues and responsibilities requires clear definition and understanding of professional ethics and the roles of the involved parties. In this paper, first, the concept of professional ethics and social responsibility is described in a general form. To illustrate the ethical issues and responsibilities, a sample case of bidding for a construction project using online reverse auction techniques is presented in which the shareholders were actively involved in questioning the ethical issues. The issues involved in the bidding process and their reflection on the shareholder responsibilities are described and analyzed for each stage of the process. A brief discussion of the overall process is also included to address the general ethical issues involved in online reverse auctions.

  13. How integrated resource planning for US electric utilities affects shareholder interests

    Hadley, S.; Hirst, E.


    Integrated resource planning (IRP) seeks to identify the mix of resources that can best meet the future energy-service needs of customers. These resources include new sources, types, and owners of power plants plus demand-side management (DSM) programs. However, little explicit attention is given to utility shareholders in the typical resource-planning proceeding. Because of the complexity of state regulatory practices and tax policies, it seems unlikely that different resources that provide comparable services to customers will yield comparable returns to shareholders. This study examines a typical US investor-owned utility's financial operations and performance using a spreadsheet model we developed for this project. The model simulates an electric utility's financial operations, and produces an annual income statement, balance sheet, and cash-flow statement. We calculated the net present value of realized (cash) return on equity as the primary factor used to represent shareholder interests. We examined shareholder returns for these resources as functions of public utility commission regulation, taxes, and the utility's operating environment. Given the increasingly competitive nature of electricity markets, we examined shareholder returns for these resources in an environment where the utility competes with other suppliers solely on the basis of electricity price. (author)

  14. Risk Exposure and Net Flow in Investment Funds: Do Shareholders Monitor Asset Allocation?

    Rafael Felipe Schiozer


    Full Text Available This study investigates the impact of asset allocation on the net flow of fixed income funds in the Brazilian market, by exploiting the exogenous variation in the risk perception of bank liabilities (CDs caused by the financial turmoil that followed Lehman Brothers’ demise in September 2008. The central hypothesis is that the exposure to assets negatively affected by the crisis impacts negatively the fund’s net flow. We find that, for mutual funds, the larger proportion of assets negatively affected by the crisis the larger the net outflow of resources, indicating that shareholders monitor asset allocation and exert disciplining power on fund managers by withdrawing their resources. In exclusive (fundos exclusivos, i.e., funds with a single shareholder, for which the shareholder is presumed to exert more influence on asset reallocation, we find no significant relationship between the exposure to assets negatively affected by the crisis and net flows.

  15. The implications of ownership concentration for shareholder protection and strategic decision-making

    Nikolić Jelena


    Full Text Available The purpose of corporate governance mechanisms is to prevent opportunistic behaviour by managers, in order to align the interests of owners and managers. Following from this, our research topic is the analysis of ownership concentration as an internal mechanism to protect the interests of shareholders. In the study of the interdependence between ownership concentration and shareholder protection, particular importance needs to be given to the relationship between ownership structure, the role of the board, and strategic decision-making. Starting from this interdependence, our research aim is to examine the impact of ownership concentration on the protection of shareholders’ interests and the board’s responsibility for firm strategy. This paper presents the results of an empirical, pilot study in the Republic of Serbia. The research confirms the interdependence of corporate governance mechanisms and strategic decision-making. Our findings indicate that ownership concentration protects majority shareholder interests and leads to lower board responsibility for strategic decision-making.

  16. Directors General appointed


    At a special session on 21 March, presided over by P. Levaux, the Council of the European Organization for Nuclear Research appointed J . B. Adams and L . Van Hove as Directors General of the Organization for a period of five years beginning 1 January 1976. Dr. Adams will be responsible for the administration of CERN, for the operation of the equipment and services and for the construction of buildings and major equipment. Professor Van Hove will be responsible for the research activities of the Organization.

  17. The board of directors in listed companies under the corporate governance system in Saudi law as compared to English law and global standards

    Alamri, Khalid; Milman, David; Lawton, Philip


    Saudi Arabia has a unique environment in terms of its political, economic, legal and judicial aspects which have some anomalous characteristics that create challenges for corporate governance. Further challenges are presented by the current structure of listed companies and by Saudi Arabia’s Vision for 2030.1 This environment significantly influences the role of the board of directors in listed companies and increases its role in safeguarding the interests of different shareholders and stakeh...

  18. The Role of the Facilitator on Total Quality Management Teams.

    Eakin, William L.


    As Total Quality Management teams work to improve organizational processes, several types of facilitators emerge: the director, the workhorse, and the cheerleader. Experience at the University of Kansas illustrates how different facilitator styles can affect team learning. (MSE)


    T.V. Zimina


    Full Text Available One of the most urgent problems of post-privatization period in Russia is considered in the article. This is process of forming new property relation formed as a joint-stock company with employees-shareholders (people’s company. Contradictions in low basis and in activity of people’s companies are determined. Trends of future improvement of this process are also offered. We believe that such analysis of joint-stock companies with employees-shareholders forming will be useful not only for researchers, studying problems of property and new forms of business, but also for government authority.

  20. Corporate governance and firm characteristics as explanatory factors of shareholder activism: Validation through the French context

    Siala Bouaziz Souha


    Full Text Available This study deals with the major determinants of company shareholder activism investigated with according to a set of SBF 120 listed firms. Based on a sample of 77 companies, observed over the period 2008–2012, we are led to conclude that some firm governance characteristics do appear to affect shareholding activism. In addition, it has been revealed that the presence of institutional investors, ownership concentration, leaders’ presence in the capital, control structure, leadership change, firm growth as well as leverage level appear to have a significant influence on the probability of activism to take place.

  1. Business Strategy Formulation By Shareholders and Company Management using The Analytical Network Process (ANPBusiness Strategy Formulation by Shareholders and Company Management Using Analytical Network Process (ANP

    Faizal Faizal


    Full Text Available This research aimed to identify the business strategy formulation by the shareholders and the management of the company. Ten companies were selected to be the objects of this research. Those companies were the information technology, telecommunication, printing, mining, construction and chemical companies in Indonesia. The research was conducted by using the Analytical Network Process (ANP and considering the chosen respondents as the decision makers (experts of those companies. The respondents were chosen by using the non-probabilitty sampling method. The result shows that the roles of the company managements are considered m ore influental (0,57143 than the roles of the shareholders (0,28571. From the output of stakeholder’s condition, the best-stratified priority strategies are differentiation (0,600515, cost of leadership (0,230754 and focus (0,168731.

  2. Magnetic heat pump flow director

    Howard, Frank S. (Inventor)


    A fluid flow director is disclosed. The director comprises a handle body and combed-teeth extending from one side of the body. The body can be formed of a clear plastic such as acrylic. The director can be used with heat exchangers such as a magnetic heat pump and can minimize the undesired mixing of fluid flows. The types of heat exchangers can encompass both heat pumps and refrigerators. The director can adjust the fluid flow of liquid or gas along desired flow directions. A method of applying the flow director within a magnetic heat pump application is also disclosed where the comb-teeth portions of the director are inserted into the fluid flow paths of the heat pump.

  3. Shareholder engagement and stewardship: the realities and illusions of institutional share ownership

    Winter, J.


    Modern perceptions of good corporate governance assume that the general meeting has a meaningful role in the governance of listed companies and that shareholders make responsible use of their voting rights. Assessments after the financial crisis, however, indicate that institutional investors by and

  4. 26 CFR 1.852-7 - Additional information required in returns of shareholders.


    ... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Additional information required in returns of shareholders. 1.852-7 Section 1.852-7 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Regulated Investment Companies and Real Estate Investment...

  5. 26 CFR 1.857-9 - Information required in returns of shareholders.


    ... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Information required in returns of shareholders. 1.857-9 Section 1.857-9 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Real Estate Investment Trusts § 1.857-9 Information required...

  6. 78 FR 79602 - Definitions and Reporting Requirements for Shareholders of Passive Foreign Investment Companies...


    ... made elections under section 1295 or 1296 with respect to the PFIC stock, generally are required to... regimes for shareholders that own stock of a PFIC: (i) the excess distribution rules under section 1291... mark to market (``MTM'') rules under section 1296. In general, section 1291 imposes a special tax and...

  7. 17 CFR 274.128 - Form N-CSR, certified shareholder report.


    ... Form N-CSR, certified shareholder report. This form shall be used by registered management investment... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Form N-CSR, certified... Form N-CSR, see the List of CFR Sections Affected, which appears in the Finding Aids section of the...

  8. 17 CFR 249.331 - Form N-CSR, certified shareholder report.


    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Form N-CSR, certified... Required Under Sections 13 and 15(d) of the Securities Exchange Act of 1934 § 249.331 Form N-CSR, certified shareholder report. This form shall be used by registered management investment companies to file reports...

  9. Shareholder voice on executive pay : A decade of Dutch say on pay

    van der Elst, Christoph; Lafarre, Anne


    The Netherlands adopted shareholders’ say on pay over a decade ago. The general meeting of shareholders must approve the remuneration policy and any amendments to it. This Dutch approach offers fruitful insights into how say on pay works in practice. In the light of the recent European proposal to

  10. Rent extraction by large shareholders: evidence using dividend policy in the Czech Republic

    Bena, Jan; Hanousek, Jan

    -, č. 291 (2006), s. 1-45 ISSN 1211-3298 R&D Projects: GA ČR GA402/06/1293 Institutional research plan: CEZ:AV0Z70850503 Keywords : rent extraction * large shareholders * corporate governance Subject RIV: AH - Economics

  11. 26 CFR 1.995-1 - Taxation of DISC income to shareholders.


    ... 26 Internal Revenue 10 2010-04-01 2010-04-01 false Taxation of DISC income to shareholders. 1.995...) INCOME TAX (CONTINUED) INCOME TAXES Domestic International Sales Corporations § 1.995-1 Taxation of DISC... to taxation on the earnings and profits of the DISC in accordance with the provisions of chapter 1 of...

  12. 78 FR 79652 - Taxation of U.S. Persons That Are Shareholders of Section 1291 Funds


    ... DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [REG-113350-13] RIN 1545-BL56 Taxation of U.S. Persons That Are Shareholders of Section 1291 Funds AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Partial withdrawal of notice of proposed rulemaking. SUMMARY: This document withdraws a...

  13. Stakeholder Value Matrix - Die VErbindung zwischen Shareholder Value und Stakeholder Value

    Frank Figge


    Die Studie zeigt, was unter Stakeholder Value verstanden werden kann, wie Shareholder Value und Stakeholder Value gemessen werden können und welche Verbindung zwischen beiden Konzepten besteht. In dieser Studie wird erstmals die Wertbeitragsanalyse von Stakeholderbeziehungen vorgestellt. Anhand der Stakeholder Value Matrix lässt sich zeigen, welche Stakeholdergruppen zusammen positiv zum Unternehmenswert beitragen.

  14. 26 CFR 1.1366-1 - Shareholder's share of items of an S corporation.


    ... election to expense certain depreciable business expenses (section 179); medical, dental, etc., expenses... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Small Business Corporations and Their Shareholders § 1.1366-1... used in the trade or business and involuntary conversions), grouped by applicable holding periods, by...

  15. The shareholder-manager relationship and its impact on the likelihood of firm bribery

    Ramdani, D.; van Witteloostuijn, A.


    We examine the impact on firm bribery of two corporate governance devices heavily studied in corporate governance research—i.e., separation of ownership and control, and equity share of the largest shareholder. In addition, we investigate the impact of the principal–owner’s gender on firm bribery.

  16. Good, better, engaged? The effect of company-initiated customer engagement behavior on shareholder value

    Beckers, Sander F.M.; van Doorn, Jenny; Verhoef, Peter C.

    In today’s connected world, customer engagement behaviors are very important. Many companies launch initiatives to stimulate customer engagement. However, despite evidence that customer engagement behavior also matters to share-holders, academic research on the firm value consequences of customer

  17. Director ownership, outside directors and commitment to corporate social responsibility

    Chen Ying


    Full Text Available This paper examines the effects of director ownership and the proportion of outside directors on firms’ commitment to corporate social responsibility (CSR. Using a sample of 453 Hong Kong listed companies for 2005, we find that there is a non-linear relationship between the level of director ownership and firms’ engagement in CSR behavior. Commitment to CSR first increases as the proportion of director ownership increases up to 50% and then decreases as that proportion of ownership grows higher. Further, the proportion of outside directors on the board exhibits a positive relationship with the level of CSR commitment. These results provide explanations for firms’ commitment to CSR from the corporate governance perspective.

  18. The Director's Work on Himself

    Kuhlmann, Annelis


    A reading of Stanislavsky's major works about the actor's work on himself from the viewpoint of the director's work on himself.......A reading of Stanislavsky's major works about the actor's work on himself from the viewpoint of the director's work on himself....

  19. IT governance guidelines for directors

    Calder, Alan


    This important new book – 'IT Governance: Guidelines for Directors' provides directors, executives, managers and professional advisers with clear, pragmatic guidelines for ensuring that IT and the business work together for the same strategic objectives. 

  20. Three directors for one strategy


    Following the interview with the Director General, Rolf-Dieter Heuer, the Bulletin continues its series of interviews with the members of CERN’s new Management team. This week, the Bulletin interviewed the three Directors, who presented their strategies for their respective sectors as a new era begins for CERN.

  1. Object Oriented Programming in Director

    Marian DARDALA


    Full Text Available Director is one of the most popular authoring software. As software for developing multimedia applications, Director is an object oriented programming environment. A very important issue to develop multimedia applications is the designing of their own classes. This paper presents the particular aspects concerning the available facilities offered by Lingo to design classes and to generate objects.

  2. ICU Director Data

    Ogbu, Ogbonna C.; Coopersmith, Craig M.


    Improving value within critical care remains a priority because it represents a significant portion of health-care spending, faces high rates of adverse events, and inconsistently delivers evidence-based practices. ICU directors are increasingly required to understand all aspects of the value provided by their units to inform local improvement efforts and relate effectively to external parties. A clear understanding of the overall process of measuring quality and value as well as the strengths, limitations, and potential application of individual metrics is critical to supporting this charge. In this review, we provide a conceptual framework for understanding value metrics, describe an approach to developing a value measurement program, and summarize common metrics to characterize ICU value. We first summarize how ICU value can be represented as a function of outcomes and costs. We expand this equation and relate it to both the classic structure-process-outcome framework for quality assessment and the Institute of Medicine’s six aims of health care. We then describe how ICU leaders can develop their own value measurement process by identifying target areas, selecting appropriate measures, acquiring the necessary data, analyzing the data, and disseminating the findings. Within this measurement process, we summarize common metrics that can be used to characterize ICU value. As health care, in general, and critical care, in particular, changes and data become more available, it is increasingly important for ICU leaders to understand how to effectively acquire, evaluate, and apply data to improve the value of care provided to patients. PMID:25846533

  3. The shareholding similarity of the shareholders of the worldwide listed energy companies based on a two-mode primitive network and a one-mode derivative holding-based network

    Li, Huajiao; Fang, Wei; An, Haizhong; Yan, LiLi


    Two-mode and multi-mode networks represent new directions of simulating a complex network that can simulate the relationships among the entities more precisely. In this paper, we constructed two different levels of networks: one is the two-mode primitive networks of the energy listed companies and their shareholders on the basis of the two-mode method of complex theory, and the other is the derivative one-mode holding-based network based on the equivalence network theory. We calculated two different topological characteristics of the two networks, that is, the out-degree of the actor nodes of the two-mode network (9003 nodes) and the weights of the edges of the one-mode network (619,766 edges), and we analyzed the distribution features of both of the two topological characteristics. In this paper, we define both the weighted and un-weighted Shareholding Similarity Coefficient, and using the data of the worldwide listed energy companies and their shareholders as empirical study subjects, we calculated and compared both the weighted and un-weighted shareholding similarity coefficient of the worldwide listed energy companies. The result of the analysis indicates that (1) both the out-degree of the actor nodes of the two-mode network and the weights of the edges of the one-mode network follow a power-law distribution; (2) there are significant differences between the weighted and un-weighted shareholding similarity coefficient of the worldwide listed energy companies, and the weighted shareholding similarity coefficient is of greater regularity than the un-weighted one; (3) there are a vast majority of shareholders who hold stock in only one or a few of the listed energy companies; and (4) the shareholders hold stock in the same listed energy companies when the value of the un-weighted shareholding similarity coefficient is between 0.4 and 0.8. The study will be a helpful tool to analyze the relationships of the nodes of the one-mode network, which is constructed based

  4. Shell succeeded to catch the shareholders unaware two times in this year

    Slovak, K.


    In January 2004 British-Dutch oil concern Dutch-Shell admitted that its tally of oil reserves contains the overrated entries. The financial market immediately responded to the report of this company, shareholders and competitor also responded. Shareholders united and applied a group complaint; a competitor precipitously proclaimed that a competitor does not have overrated the reserves. A revision of the stocks caused that original 13-14 years stocks have fallen to 10-11 years. Shell has also sold its 50 percent share in West Indian oil field only for 7.25 million USD. The estimations of Sairn Energy Company, which has bought this oil field, tell about the stocks on the level from 450 million to 1.1 billion barrels

  5. A settlement Forum for Stock Quoted Companies and Shareholders Claiming Damage

    Werlauff, Erik


    This article analyses the Dutch group settlement model from a company law and capital market law perspective. The author considers the WCAM procedure primarily as a forum and an instrument for companies in Europe and shareholders claiming damage caused by the company’s insufficient information to...... to the market. The article focuses on important questions for the Dutch settlement model, i.e. questions of jurisdiction, notification, and legal effect of the settlement. The author develops some important perspectives for European procedural and company law.......This article analyses the Dutch group settlement model from a company law and capital market law perspective. The author considers the WCAM procedure primarily as a forum and an instrument for companies in Europe and shareholders claiming damage caused by the company’s insufficient information...

  6. The Compound Binomial Risk Model with Randomly Charging Premiums and Paying Dividends to Shareholders

    Xiong Wang


    Full Text Available Based on characteristics of the nonlife joint-stock insurance company, this paper presents a compound binomial risk model that randomizes the premium income on unit time and sets the threshold for paying dividends to shareholders. In this model, the insurance company obtains the insurance policy in unit time with probability and pays dividends to shareholders with probability when the surplus is no less than . We then derive the recursive formulas of the expected discounted penalty function and the asymptotic estimate for it. And we will derive the recursive formulas and asymptotic estimates for the ruin probability and the distribution function of the deficit at ruin. The numerical examples have been shown to illustrate the accuracy of the asymptotic estimations.

  7. Beyond shareholder primacy? Reflections on the trajectory of UK corporate governance.

    Armour, J.; Deakin, S.; Konzelmann, Suzanne J.


    Core institutions of UK corporate governance, in particular the City Code on Takeovers and Mergers, the Combined Code on Corporate Governance and the law on directors’ duties, are strongly orientated towards the norm of shareholder primacy. Beyond the core, however, stakeholder interests are better represented, in particular at the intersection of insolvency and employment law. This reflects the influence of European Community laws on information and consultation of employees. In addition, th...

  8. Links Between Net Present Value and Shareholder Value from a Business Economics Perspective

    Mária Illés


    One of the oft-quoted theorems of finance is that decision making based on net present value will lead to the maximisation of shareholder value. The study analyses the reality background of this theorem within the disciplinary borders of business economics. Since finance is based directly on the bases of microeconomics, the study touches upon the presentation of the different disciplinary frames of business economics and microeconomics. The paper demonstrates that the economic content of shar...

  9. Rent extraction by large shareholders: evidence using dividend policy in the Czech Republic

    Bena, J.; Hanousek, Jan


    Roč. 58, 3-4 (2008), s. 106-130 ISSN 0015-1920 R&D Projects: GA ČR GA402/06/1293; GA MŠk LC542 Institutional research plan: CEZ:MSM0021620846 Keywords : rent extraction * large shareholders * dividend policy Subject RIV: AH - Economics Impact factor: 0.275, year: 2008

  10. The Effect of Conservative Accounting on the Bondholder-Shareholder Conflict and Cost of Debt

    Nordlind, Felix; Lucki Racana, Samuel


    Prior research on conservative accounting and bondholder-shareholder conflict show that firms with higher degree of conservatism experience less austere conflict and lower cost of debt. However, since the implementation of IFRS in 2005, conservatism has been widely reduced in favor of fair value principles. This study sets out to examine if accounting conservatism still mitigates the conflict and reduces cost of debt. We regress two measures of conservatism on three conflict proxies and debt ...

  11. Transfer of Profit to Shareholders at Warsaw Stock Exchange in the Period 2009–2013

    Jabłoński Bartłomiej


    Full Text Available The Author of the article presents the results of research devoted to the forms of transfer of profit to shareholders of the companies quoted at Warsaw Stock Exchange in the period 2009–2013. The Author concluded that there are features in the group of dividend companies and another group – that of dividend companies which additionally execute share redemption and cancellation – which make them different.

  12. Shareholder preferences of Merger Deals and Industry Choices: A Case Study of UK Companies

    Reimoo, Maleka


    Abstract Mergers and acquisitions have gained enormous popularity in the recent past. There have been five trends in the previous century alone. There is however, a conflict in the literature regarding the impacts of such financial activities. While some researchers support mergers due to the financial profits associated with them, others argue against them as not being very favourable for the shareholders of the companies. This research therefore aims at calculating any abnormal returns ...

  13. 'I Paid for this Microphone!' The Importance of Shareholder Theory in (Teaching) Business Ethics

    David Levy; Mark Mitschow


    Two prominent normative theories of business ethics are stakeholder and shareholder theory. Business ethicists generally favor the former, while business people prefer the latter. If the purpose of business ethics is “to produce a set of ethical principles that can be both expressed in language accessible to and conveniently applied by an ordinary business person” (Hasnas 1998), then it is important to examine this dichotomy.While superficially attractive, the normative version of stakeholder...

  14. Empty creditors and strong shareholders: The real effects of credit risk trading

    Colonnello, Stefano; Efing, Matthias; Zucchi, Francesca


    Credit derivatives allow creditors to transfer debt cash flow rights to other market participants while retaining control rights. Theory predicts that this transfer can create empty creditors that do not fully internalize liquidation costs and liquidate borrowers excessively often. This empty creditor problem is concentrated in firms whose creditors would face powerful shareholders in distressed debt renegotiations. Consistent with this prediction, we show that (1) creditors buy more CDS prot...

  15. Taking stock of work-family initiatives: How announcements of "family-friendly" human resource decisions affect shareholder value.

    Michelle M. Arthur; Alison Cook


    This study examines share price reactions to 231 work-family human resource policies adopted by Fortune 500 companies and announced in the Wall Street Journal between 1971 and 1996. Consistent with past research, the results suggest that firm announcements of work-family initiatives positively affected shareholder return. The authors also empirically test three hypotheses concerning how the timing of work-family initiatives influences shareholder reaction. They find that a pioneering company ...

  16. Minority Shareholders' Wealth Effects and Stock Market Development: Evidence from Increase-in-Ownership M&As

    Petmezas, D


    This paper examines, using a global M&A data set, the relationship between the target firm’s minority shareholders’ returns and a country’s stock market development in deals in which large shareholders increase their ownership stakes. For the purpose of this study, we use two measures of stock market development: (1) turnover over GDP, and (2) turnover over market capitalization. We provide evidence supporting the view that minority shareholders in target firms gain significantly more in coun...




    Full Text Available Because environmental reporting remains voluntary on an international scale, there are major difference in terms of quality and quantity of environmental information, reported by entities from varied sectors and countries. The literature identifies factors like public exposure, entities legitimacy, laws and regulation, characteristics of the company (management, size, profitability etc, culture as the main factors that could determine environmental reporting (Lee and Hutchinso, 2005. Within this study, I have focused on environmental reporting and I have analyses factors related to corporate governance characteristics, such as shareholder structure, in order to identify the existence of certain associations between the shareholder structure and the level of environmental reporting. The paper represent an empirical analyzes on how shareholder structure might explain the level of environmental reporting in the case of Romanian companies listed at Bucharest Stock Exchange. The sample consist in 64 entities listed at Bucharest Stock Exchange in the first, second and third tier from 10 areas of activity that may impact the environment: agriculture, forestry and fishing; the extractive industry; the manufacture industry; production and supply of electricity, thermal energy, gas, water; water distribution, sanitation, managing waste, recyclable materials recovery activities; construction; transport and storage; food industry, hotels, restaurants; the repair, retail, maintenance and installation of machinery and equipment; printing and reproduction of recorded media. I suggest a model comprising shareholder structure: percentage owned by families, percentage owned by institutional investors, percentage owned by private investors, percentage owned by foreign investors, percentage owned by board members, percentage owned by management members as factors that could explain environmental reporting. As future research we will test this model on companies

  18. EVA measure and ability of the firm to create shareholder wealth

    Gabriela Chmelíková


    Full Text Available This paper is devoted to the possibilities of Economic Value Added index usage in the conditions of Czech food-processing industry and is trying to provide independent empirical evidence on the indicator’s qualities. The EVA proponents attach to it a superiority compared to other common performance measures. The aim of this article is to investigate the relationship between Economic Value Added, traditional performance measures (ROA and ROE and ability of creation of shareholder wealth for food-processing firms in the Czech Republic. The way of intended comparison is not dissimilar to the main world studies, which are quoted in this paper. A critical point of the EVA’s application in the conditions of Czech economy is a lack of good quality information from capital market, which at the same time, serve as an exogenous criterion for assessing the quality of the examined measures in the mentioned studies. In the absence of quality capital market information, a criterion for assessing the information content of performance measures suitable for conditions of Czech economy is developed in this paper. This also shows how to circumvent the handicap of the available data.The intent of this article is fulfilled by providing a simple regression test of the hypothesis, that the EVA measure is more associated with improved shareholder wealth than traditional performance measures ROA and ROE. The results of regression analysis show higher quality information content of EVA indicator in the relationship to the ability of shareholder wealth creation than traditional performance measures. This fact supports the tested hypothesis as well as the conclusions of corporate finance theory, that from the theoretical point of view EVA is seen as a superior performance metric.

  19. Facilitating Transfers

    Kjær, Poul F.

    to specific logics of temporalisation and spatial expansion of a diverse set of social processes in relation to, for example, the economy, politics, science and the mass media. On this background, the paper will more concretely develop a conceptual framework for classifying different contextual orders...... that the essential functional and normative purpose of regulatory governance is to facilitate, stabilise and justify the transfer of condensed social components (such as economic capital and products, political decisions, legal judgements, religious beliefs and scientific knowledge) from one social contexts...

  20. Fermilab Education Office - Director's Award

    Search The Director's Award Exceptional Service To Fermilab's K-12 Education Programs The many successes of Fermilab's K-12 education programs depend on the talents of the over 200 employees, users, and $1,000, made possible by an anonymous donor to Fermilab Friends for Science Education, recognizes one

  1. The governance of director networks

    Renneboog, L.D.R.; Zhou, Y.; Wright, M.; Siegel, D.; Keasey, K.; Filatotchev, I.


    This chapter studies director networks, which have gained increasing attention from sociology, finance, and management. It considers the argument that these networks have an interesting role in corporate governance and then reviews their rules in major developed countries. The chapter goes on to

  2. The Restrictions to the Improper Use of Liability Company's Administration as a Way of Shareholder's Protection

    João Luis Nogueira Matias


    Full Text Available The brazilian limited company, in line with the principles of the Constitution, is not treated as partners's subject. There is the recognition of outside's interest. New standards are set in the internal relations with the protection of the rights of the minority. The partners can shape the limited company governance, however, the brazilian civil code put cogent norms that limit the abuse of management. In this paper will be analyzed the administration typology; agency conflicts; conflicts of interests between direction and the limited company and the management control. It is verified that the restrictions on brazilian limited company administration provides protection to shareholders.

  3. The importance of shareholder activism : the case of say-on-pay

    Stathopoulos, Konstantinos; Voulgaris, Georgios


    Manuscript Type: Review\\ud Research Question/Issue: This study focuses on the role of Say-on-Pay as a mechanism that aims to promote the efficiency of corporate governance by providing an additional channel for the expression of shareholder “voice”. Initially introduced in the UK, Say-on-Pay has subsequently been adopted in a large number of countries and it has recently received significant attention from regulators, media and the general public. The purpose of this study is to review prior ...

  4. An Examination of Corporate Spin-Offs on Company Performance and Shareholder Value

    Scicluna, Karl


    The aim of this study is to examine the implications of corporate spin-offs on company performance and shareholder value. The study uses both event study and accounting-based study methodologies to assess the stock price response of parent companies to the announcement of spin-offs, and to analyse the long-run operating performance of spin-offs for both parent and subsidiary companies. The study focuses on UK and US firms between 2001 and 2011. Evidence collected from the ev...

  5. From Affective Shareholding to OUR Walmart: Organizing Labor in a Post-Union World

    Christine Labuski


    Full Text Available From Affective Shareholding to OUR Walmart: Organizing Labor in a Post-Union World, by Christine Labuski and Nick Copeland. This essay examines OUR Walmart (Organization United for Respect at Walmart, a group of current and former Walmart employees who are fighting for improved working conditions within the company. We situate OUR Walmart's emergence within the breakdown of management strategies that substitute affective and symbolic inclusion for material benefits. We also show how OUR Walmart shames the company over social media by contrasting workers’ precarious lives with the extreme wealth of the Walton family, and redefines respect to include collective and material rights.

  6. Asset and Liability Composition in Participating Life Insurance: The Impact on Shortfall Risk and Shareholder Value

    Gatzert, Nadine; Bohnert, Alexander; Jørgensen, Peter Løchte

    surplus appropriation schemes on the company’s shortfall risk and the shareholders’ fair risk charge. The range of products comprises temporary life annuities and endowment insurance contracts with varying surplus appropriation schemes that are modeled actuarially. We thereby also account for mortality...... risk and ensure a fair situation for shareholders. Our findings emphasize that management decisions can have a substantial impact on the company’s shortfall risk, and that their effectiveness in risk reduction varies substantially depending on the surplus appropriation scheme offered to the customer...

  7. Determination of Systemically Important Companies with Cross-Shareholding Network Analysis: A Case Study from an Emerging Market

    Hossein Dastkhan


    Full Text Available Systemic risk events constitute an important issue in current financial systems. A leading course of action used to mitigate such events is identification of systemically important agents in order to implement the prudential policies in a financial system. In this paper, a bi-level cross-shareholding network of the stock market is considered according to direct and integrated ownership structure. Furthermore, different systemic risk indices are applied to identify systemically important companies in an early warning system. Results of application of these indices on cross-shareholding data from Tehran Stock Exchange show that integrated network indices produce more reliable results. Moreover, results of statistical analysis of the networks indicated the existence of scale-free characteristics in the TSE cross-shareholding network.

  8. Facilitating participation

    Skøtt, Bo


    the resulting need for a redefinition of library competence. In doing this, I primarily address the first two questions from Chapter 1 and how they relate to the public’s informal, leisure-time activities in a networked society. In particular, I focus on the skills of reflexive self-perception and informed...... opinion formation. Further, I point out the significance which these informal leisure-time activities have for public library staff’s cultural dissemination skills. In this way, I take on the question of the skills required for facilitating the learning of a participatory public (cf. Chapter 1......), exemplifying with the competence required of library staff. My discussion will proceed by way of a literature review. In the next section, I shall explain how and what sources were chosen and section three and four present the theoretical framework and how the applied theories are related. In the fifth section...

  9. Facilitating Transfers

    Kjær, Poul F.


    Departing from the paradox that globalisation has implied an increase, rather than a decrease, in contextual diversity, this paper re-assesses the function, normative purpose and location of Regulatory Governance Frameworks in world society. Drawing on insights from sociology of law and world...... society studies, the argument advanced is that Regulatory Governance Frameworks are oriented towards facilitating transfers of condensed social components, such as economic capital and products, legal acts, political decisions and scientific knowledge, from one legally-constituted normative order, i.......e. contextual setting, to another. Against this background, it is suggested that Regulatory Governance Frameworks can be understood as schemes which act as ‘rites of passage’ aimed at providing legal stabilisation to social processes characterised by liminality, i.e ambiguity, hybridity and in-betweenness....

  10. Characterizing the Land Shareholding Cooperative: A Case Study of Shanglin Village in Jiangsu, China

    Yi Ren


    Full Text Available The land tenure reform is the key to sustainable development in rural China. Without challenging the collective ownership of land, the land shareholding cooperative (LSC system came into being and is being strongly endorsed by the authority: It re-collectivizes the contracted land from peasants and enables better regional planning and large-scale modern agricultural production. This paper studies a specific LSC (Shanglin LSC in the Sunan region of the Yangtze River Delta based on our fieldwork. We found that the LSC system is a bottom-up institutional innovation towards sustainable land use in China. Both village cadres and ordinary peasants’ decision making contributes to its successful establishment and development. This shareholding system increases peasants’ income through dividends and employment opportunities. The concentrated land enables ecological farming. Acting as a quasi-government agency, the LSC also provides public service and social security to the village community. On the other hand, the LSCs’ success depends on certain prior conditions and the LSCs’ multiple missions may contradict each other from time to time, and lead to loss of efficiency. We argue that this approach to land tenure reform may not be universally applied to any regions in China.

  11. Career concerns, shareholder monitoring and investment efficiency: From the perspective of compensation contract rigidity in Chinese SOEs

    Hualin Wan


    Full Text Available This paper presents theoretical analysis of how career concerns and shareholder monitoring affect chief executive officer (CEO agency costs. We investigate investment efficiency prior to CEO retirement based on a sample of Chinese state-owned enterprises (SOEs during the 1999–2007 period and find that there is a significant decline in investment efficiency prior to CEO retirement, relative to other periods, and that this decline becomes less significant under stronger shareholder supervision. Our research furthers understanding of the significance of SOE incentive and monitoring mechanisms.

  12. 26 CFR 1.1298-3 - Deemed sale or deemed dividend election by a U.S. person that is a shareholder of a former PFIC.


    ... its stock in the former PFIC for its fair market value on the termination date, as defined in... sale election, the shareholder's stock with respect to which the election was made under this paragraph... the deemed dividend election, the shareholder's stock with respect to which the election was made...

  13. 26 CFR 1.1291-1 - Taxation of U.S. persons that are shareholders of PFICs that are not pedigreed QEFs.


    ... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Taxation of U.S. persons that are shareholders of PFICs that are not pedigreed QEFs. 1.1291-1 Section 1.1291-1 Internal Revenue INTERNAL REVENUE... Determining Capital Gains and Losses § 1.1291-1 Taxation of U.S. persons that are shareholders of PFICs that...

  14. Independent versus non-independent outside directors in European companies: Who has a say on CEO compensation?

    Pablo de Andrés


    Full Text Available Our study reveals how two separate dimensions of board composition—the proportion of independent directors and of non-independent directors—influence CEO compensation in Western European firms. Controlling for the simultaneous determination of CEO pay structure and board design, we find that firms with a higher proportion of non-independent outsiders on their boards pay less direct compensation (salary + bonus and less equity-linked compensation to their CEOs. By contrast, CEOs working for firms with more independent boards receive more equity based-pay. When we control for the fact that equity linked is not granted systematically in Europe we find that firms with more independent directors on the board tend to grant equity-linked compensation more often than firms with more non independent outside directors. Our results challenge the commonly accepted view of independent directors as safeguards of shareholder value, uncovering the relevance of non-independent outsiders for pay moderation and incentives.

  15. Integration of Leadership Styles of School Director

    Pavlovic, Nebojsa; Oljaca, Milka; Kostovic, Svetlana


    Management style can be defined as a special behavior of directors in the work process that affects the performance in an organization, in this case-school. Management style has two related meanings: first is behavior of directors to employees, second is directors' approach in school regarding management, participation of employees in decision…

  16. 30 CFR 282.11 - Director's authority.


    ... CONTINENTAL SHELF FOR MINERALS OTHER THAN OIL, GAS, AND SULPHUR Jurisdiction and Responsibilities of Director § 282.11 Director's authority. (a) In the exercise of jurisdiction under § 282.10, the Director is... of two or more OCS mineral leases or portions of two or more OCS mineral leases into a single mining...

  17. 30 CFR 736.14 - Director's decision.


    ... Director shall publish the decision in the Federal Register, including a statement of the basis and purpose... 30 Mineral Resources 3 2010-07-01 2010-07-01 false Director's decision. 736.14 Section 736.14... Director's decision. (a) After considering all relevant information received under § 736.12 of this part...

  18. 12 CFR 7.2010 - Directors' responsibilities.


    ... refer to OCC published guidance for additional information regarding responsibilities of directors. ... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Directors' responsibilities. 7.2010 Section 7... OPERATIONS Corporate Practices § 7.2010 Directors' responsibilities. The business and affairs of the bank...

  19. 26 CFR 1.955-1 - Shareholder's pro rata share of amount of previously excluded subpart F income withdrawn from...


    .... Pursuant to section 951(a)(1)(A)(ii) and the regulations thereunder, a United States shareholder of a... countries at the close of the taxable year, minus (ii) The amount (if any) by which recognized losses on...) The sum of the controlled foreign corporation's earnings and profits (or deficit in earnings and...

  20. Pre–Emption Right of Shareholders to Purchase Shares for Sale in Private Limited Liability Companies: The Problematic Legal Remedies

    Virginijus Bitė


    Full Text Available This article analyses the problems that can arise when implementing the rights of shareholders in private limited liability companies to purchase the shares of another shareholder being for sale in priority to others and the possible legal remedies for violated rights. According to the practice of the Lithuanian Supreme Court, the rights of the buyer cannot be assigned to a private limited liability company shareholder whose pre-emption right to purchase the shares being for sale has been breached. However, in this article it is being argued that perhaps in certain exceptional cases, in order to create fair business practice and ensure a “tangible” result for the plaintiff in relation to the judgment, the court could (should take advantage of the freedom to maneuver and, by implementing justice, change the method of restitution (pertaining to the subject – assign the shares to the plaintiff (an aggrieved shareholder simultaneously creating an obligation on the same person to settle properly with the last owner of the disputed shares.

  1. Digging Deep for Meaning: A Critical Hermeneutic Analysis of CEO Letters to Shareholders in the Oil Industry.

    Prasad, Anshuman; Mir, Raza


    Uses the methodology of critical hermeneutics to analyze Chief Executive Officers' letters to shareholders in the United States petroleum industry during the 1970s and 1980s. Suggests these letters were deployed to produce a certain attitude toward OPEC (Organization of Petroleum Exporting Countries) among their readers that deflected attention of…

  2. Measuring Risk-adjusted Customer Lifetime Value and its Impact on Relationship Marketing Strategies and Shareholder Value

    Ryals, Lynette; Knox, Simon


    The calculations which underlie efforts to balance marketing spending on customer acquisition and customer retention are usually based on either single- period customer profitability or forecasts of customer lifetime value (CLTV). This paper argues instead for risk-adjusted CLTV, which is termed the economic value (EV) of a customer, as the means for marketing to assess both customer profitability and shareholder value gains.

  3. Shareholder Lock-In Contracts : Share Price and Trading Volume Effects at the Lock-In Expiry

    Angenandt, P.P.; Goergen, M.; Renneboog, L.D.R.


    This paper unveils the diversity in lock-in agreements of firms listed on the Nouveau Marche stock exchange in France.We give the main economic reasons why shareholders adopt lock-in agreements that are more stringent than legally required.We relate the abnormal returns and the abnormal volume at

  4. The Effect of Private Benefits of Control on Minority Shareholders: A Theoretical Model and Empirical Evidence from State Ownership

    Kerry Liu


    Full Text Available Purpose: The purpose of this paper is to examine the effect of private benefits of control on minority shareholders. Design/methodology/approach: A theoretical model is established. The empirical analysis includes hand-collected data from a wide range of data sources. OLS and 2SLS regression analysis are applied with Huber-White standard errors. Findings: The theoretical model shows that, while private benefits are generally harmful to minority shareholders, the overall effect depends on the size of large shareholder ownership. The empirical evidence from government ownership is consistent with theoretical analysis. Research limitations/implications: The empirical evidence is based on a small number of hand-collected data sets of government ownership. Further studies can be expanded to other types of ownership, such as family ownership and financial institutional ownership. Originality/value: This study is the first to theoretically analyse and empirically test the effect of private benefits. In general, this study significantly contributes to the understanding of the effect of large shareholder and corporate governance.

  5. IAEA Director General to Visit Iran


    Full text: The Director General of the IAEA, Yukiya Amano, will travel to Tehran this Sunday, 20 May 2012, to discuss issues of mutual interest with high Iranian officials. In the course of his one-day working visit, on Monday 21 May 2012 the Director General will meet the Secretary of Iran's Supreme National Security Council, His Excellency Saeed Jalili, and other senior representatives of the Iranian government. Herman Nackaerts, Deputy Director General for Safeguards, and Rafael Mariano Grossi, Assistant Director General for Policy, will accompany the Director General. (IAEA)

  6. Papike appointed Director of IOM

    James Papike was appointed director of the Institute of Meteoritics in the Department of Geology and Presidential Professor at the University of New Mexico, Albuquerque, on July 1, 1990. Papike succeeded Klaus Keil, who moved to the University of Hawaii to direct the Planetary Geoscience Division at the Hawaii Institute of Geosciences.The newly constituted IOM will emphasize planetary volcanic processes through the study of achondritic meteorites, the Moon, and Earth, and the origin of primitive solar system materials and planetary formation through the study of chondritic meteorites.

  7. The relationship between debt levels and total shareholder return of JSE-listed platinum companies

    Sandra Jooste


    Full Text Available The purpose of this study is to investigate empirically whether there is a positive correlation between debt levels and total shareholder return (TSR of platinum JSE-listed companies. The study field comprised annual analyses for 12 companies listed under the Platinum and Precious Metals sector on the JSE Ltd for the 14-year period 2000 to 2013. The results of the study were inconclusive as a statistically significant positive correlation between changes in debt levels and changes in TSR could only be found in two of these years. The core audience of the study will be the management of South African platinum companies considering changes in their capital structure, and investors considering investment in a listed platinum company. The contribution of the study is therefore to add to the body of literature on capital structure decisions from a South African platinum mine context

  8. Impact of profit retention on value creation to shareholders of Brazilian companies

    Leonardo Cunha da Silva


    Full Text Available The company's decision on reinvesting profits started from the premise that the return on invested capital will exceed the opportunity cost, creating, consequently, shareholder value. Thus, wealth generation of the entity will be influenced by the level of retained earnings. Therefore, in this work we seek to examine how retained profit affect the value creation of 223 Brazilian companies, from 2008 to 2014, the control used was investment opportunity. Therefore we used descriptive statistics and panel data models. As main results we found that there is a high level of retained profit in the sample, however, a small part of the companies created value in the period. Still, the negative relationship between the level of capitalization of profits and created value is highlighted. Besides, it was observed that the companies that belonged to groups of higher levels of profit distribution ended up generating more wealth for investors.

  9. The safety of nuclear power plants under the shareholder value orientation - example Northeast Utilities

    Luhmann, H.J.


    Usually the safety of nuclear power plants is regarded as a technical question. Thereby humans only as a part of the man-machine system play a safety-relevant role usually. On this picture, the national regulation of this safety, the 'nuclear supervision' is designed. An innovative investigation of the Yale School of Management has concerned with the incidents around the so-called Millstone reactors in Waterford, Connecticut, and the economic collapse of the regional supplier Northeast Utilities (NU). The change of the corporate culture of the operator of the nuclear power station to a shareholder value orientation has released this 'enterprise disaster'. This investigation permits a first insight into the changed requirements on supervision, which goes beyond the nuclear supervision and which includes the price control in view of this change of the corporate culture

  10. Prevalence and compensation of academic leaders, professors, and trustees on publicly traded US healthcare company boards of directors: cross sectional study.

    Anderson, Timothy S; Good, Chester B; Gellad, Walid F


    To identify the prevalence, characteristics, and compensation of members of the boards of directors of healthcare industry companies who hold academic appointments as leaders, professors, or trustees. Cross sectional study. US healthcare companies publicly traded on the NASDAQ or New York Stock Exchange in 2013. 3434 directors of pharmaceutical, biotechnology, medical equipment and supply, and healthcare provider companies. Prevalence, annual compensation, and beneficial stock ownership of directors with affiliations as leaders, professors, or trustees of academic medical and research institutions. 446 healthcare companies met the study search criteria, of which 442 (99%) had publicly accessible disclosures on boards of directors. 180 companies (41%) had one or more academically affiliated directors. Directors were affiliated with 85 geographically diverse non-profit academic institutions, including 19 of the top 20 National Institute of Health funded medical schools and all of the 17 US News honor roll hospitals. Overall, these 279 academically affiliated directors included 73 leaders, 121 professors, and 85 trustees. Leaders included 17 chief executive officers and 11 vice presidents or executive officers of health systems and hospitals; 15 university presidents, provosts, and chancellors; and eight medical school deans or presidents. The total annual compensation to academically affiliated directors for their services to companies was $54,995,786 (£35,836,000; €49,185,900) (median individual compensation $193,000) and directors beneficially owned 59,831,477 shares of company stock (median 50,699 shares). A substantial number and diversity of academic leaders, professors, and trustees hold directorships at US healthcare companies, with compensation often approaching or surpassing common academic clinical salaries. Dual obligations to for profit company shareholders and non-profit clinical and educational institutions pose considerable personal, financial, and

  11. Esso Imperial Oil annual report to shareholders 2004 : 125 years of energy leadership



    This annual report presents financial information of Esso Imperial Oil to its shareholders, as well as a review of its 2004 operations. In 2004, the total return on shares was more than 25 per cent (TSX) and has averaged almost 20 per cent a year for the past 10 years. The highest earnings in the company's history were achieved in 2004, $2,052 million, a significant increase from the record $1,705 million earnings in 2003. In 2004, total distributions to shareholders were almost $1.2 billion, including $872 million to buy back around 14 million shares. Debt as a percentage of total capital was below 20 per cent. At year end, the balance of cash was $1,279 million. Capital expenditures for 2004 were $1,445 million. Investments included advancing major upstream projects and funding significant refinery upgrades to reduce sulphur levels in diesel fuel. Operating highlights included substantial progress on upstream projects with a focus on developing oil-sands leases in Alberta, natural gas in the Mackenzie Delta region of the Northwest Territories and offshore resources on Canada's East Coast. Total research expenditure in Canada was $38 million, with 3 new patents and 180 new or reformulated products commercialized. This report summarized the company's energy resource activities and presented an operations review as well as consolidated financial statements and common share information. This included accounts of Imperial Oil Inc., and its subsidiaries, as well as the company's proportionate share of the assets, liabilities, revenues, expenses and cash flows of joint ventures. Revenue and expenditure statements were summarized by source. tabs., figs.

  12. Esso Imperial Oil annual report to shareholders 2004 : 125 years of energy leadership


    This annual report presents financial information of Esso Imperial Oil to its shareholders, as well as a review of its 2004 operations. In 2004, the total return on shares was more than 25 per cent (TSX) and has averaged almost 20 per cent a year for the past 10 years. The highest earnings in the company's history were achieved in 2004, $2,052 million, a significant increase from the record $1,705 million earnings in 2003. In 2004, total distributions to shareholders were almost $1.2 billion, including $872 million to buy back around 14 million shares. Debt as a percentage of total capital was below 20 per cent. At year end, the balance of cash was $1,279 million. Capital expenditures for 2004 were $1,445 million. Investments included advancing major upstream projects and funding significant refinery upgrades to reduce sulphur levels in diesel fuel. Operating highlights included substantial progress on upstream projects with a focus on developing oil-sands leases in Alberta, natural gas in the Mackenzie Delta region of the Northwest Territories and offshore resources on Canada's East Coast. Total research expenditure in Canada was $38 million, with 3 new patents and 180 new or reformulated products commercialized. This report summarized the company's energy resource activities and presented an operations review as well as consolidated financial statements and common share information. This included accounts of Imperial Oil Inc., and its subsidiaries, as well as the company's proportionate share of the assets, liabilities, revenues, expenses and cash flows of joint ventures. Revenue and expenditure statements were summarized by source. tabs., figs

  13. Independence and executive remuneration for supervisory board members and non-executive directors

    Hana Horak


    Full Text Available In this paper, the author analyses the issues of independence and rewarding members of supervisory boards and non-executive directors in administrative boards. The question of independence was developed as one of the fundamental issues of corporative administration. Members of these organs of society should have the appropriate qualifications, specific knowledge and skills in order to reasonably and impartially weigh up social business and reach decisions in the best interests of society, its members and other interest holders. So that they can act in accordance with this, the presumption is that they are independent. Recently, after financial crises, it is precisely the independence of supervisory members, that is, non-executive directors, which is considered to be the foundation of the fight against the opportunism of administration and main shareholders. The authors analyse the Recommendations on Independence and Executive Remuneration for members of supervisory and administrative boards of the European Union, together with their implementation in Croatian law and practice.

  14. The program director and accreditation

    Tristan, T.A.; Capp, M.P.; Krabbenhoft, K.L.; Armbruster, J.S.


    Field Survey is contrasted with the Specialist Site Visitor. The discussion addresses the reasons for different types of surveys and how the surveys and the Hospital Information Form are used in evaluating a graduate residency program in radiology for accreditation. The Residency Review Committee for Radiology (RRC) and the staff of the Accreditation Council for Graduate Medical Education (ACGME) of Residencies in Radiology offer a program for program directors and other interested leaders in graduate programs in radiology. The authors explain the review and accreditation process for residencies in radiology with special emphasis on the preparation for inspection by accurate and full completion of the Hospital Information Form on which the program is judged, and the nature of the inspection procedures

  15. Director general presentation to personnel


    Dear Colleagues, Many important discussions are scheduled for the upcoming Council Week (13-17 June) on topics including the Medium-Term Plan, the Pension Fund and other matters of great relevance to us.   I would therefore like to share the main outcome of the week with you and I invite you to join me and the Directors in the Main Auditorium at 10 a.m. on Thursday 23 June. The meeting will last about one hour and a webcast will also be available. Best regards, Fabiola Gianotti DG presentation to personnel Thursday 23 June at 10 am Main Auditorium Retransmission in Council Chamber, IT Auditorium, Kjell Jonhsen Auditorium, Prevessin 864-1-C02 Webcast on More information on the event page.

  16. Institutional directors and board compensation: Spanish evidence

    Felix López-Iturriaga


    Full Text Available We address the influence of directors who represent institutional investors in three aspects of board compensation policies: level of compensation, composition, and performance sensitivity. We differentiate pressure-sensitive directors (i.e., with business links and pressure-resistant directors (i.e., without business links. Our results show that pressure-resistant directors decrease total board compensation and its fixed proportion, whereas they increase the variable proportion of total remuneration and the pay-for-performance sensitivity. By contrast, pressure-sensitive directors offer the opposite results. These findings are consistent with the view that institutional investors are not a homogeneous group and that pressure-resistant directors fulfill a more thorough monitoring role.

  17. Enhancing teamwork between chief residents and residency program directors: description and outcomes of an experiential workshop.

    McPhillips, Heather A; Frohna, John G; Murad, M Hassan; Batra, Maneesh; Panda, Mukta; Miller, Marsha A; Brigham, Timothy P; Doughty, Robert A


    An effective working relationship between chief residents and residency program directors is critical to a residency program's success. Despite the importance of this relationship, few studies have explored the characteristics of an effective program director-chief resident partnership or how to facilitate collaboration between the 2 roles, which collectively are important to program quality and resident satisfaction. We describe the development and impact of a novel workshop that paired program directors with their incoming chief residents to facilitate improved partnerships. The Accreditation Council for Graduate Medical Education sponsored a full-day workshop for residency program directors and their incoming chief residents. Sessions focused on increased understanding of personality styles, using experiential learning, and open communication between chief residents and program directors, related to feedback and expectations of each other. Participants completed an anonymous survey immediately after the workshop and again 8 months later to assess its long-term impact. Participants found the workshop to be a valuable experience, with comments revealing common themes. Program directors and chief residents expect each other to act as a role model for the residents, be approachable and available, and to be transparent and fair in their decision-making processes; both groups wanted feedback on performance and clear expectations from each other for roles and responsibilities; and both groups identified the need to be innovative and supportive of changes in the program. Respondents to the follow-up survey reported that workshop participation improved their relationships with their co-chiefs and program directors. Participation in this experiential workshop improved the working relationships between chief residents and program directors. The themes that were identified can be used to foster communication between incoming chief residents and residency directors and to

  18. 78 FR 68466 - BLM Director's Response to the Idaho Governor's Appeal of the BLM Idaho State Director's Governor...


    ... Bureau of Land Management (BLM) is publishing this notice to explain why the BLM Director is denying the...] BLM Director's Response to the Idaho Governor's Appeal of the BLM Idaho State Director's Governor's... (Finding) to the BLM Idaho State Director (State Director). The State Director determined the Governor's...

  19. Intellectual capital performance and cash-based incentive payments for executive directors: Impact of remuneration committee and corporate governance features

    J-L. W. Mitchell Van der Zahn


    Full Text Available We use a sample of 964 executive directors representing 354 Singapore publicly listed firms to examine linkage between firm performance and cash-based bonus payments. As a pooled OLS regression model may hide different models that characterize subsets of observations we use latent class analysis to further examine the data and to identify more specifically the influence of corporate governance features. Our latent class analysis results indicate that remuneration committees with members having their interests better aligned with shareholders (such as presence of a significant owner appear more likely to consider the incremental value of tying executive director compensation to intellectual capital performance. Remuneration committees with a lower risk of influence from managerial power were also found to be more likely to support a compensation linkage for executive directors to intellectual capital performance. The influence of the remuneration committee features is evident for both entrepreneurial and traditional firms. Overall, our findings are consistent with both the optimal-contract pricing and managerial power views of executive compensation setting.

  20. Publication and dissemination of Annual Reports to shareholders in Nigeria and the United Kingdom: The Economics of Social Media and Electronic Communication

    Olagoke Kuye


    Full Text Available While the cost of printing and sending out annual reports to shareholders by companies keep increasing and arguments have been made for cheaper and cost-effective ways of carrying out financial disclosure obligations by companies including electronic method, Companies’ Acts maintain that shareholders remain the ultimate decision-maker in the question whether electronic means of publishing annual reports is to be adopted as the primary means of publishing and disseminating annual reports among shareholders. This line of reasoning by legislation is given impetus by the staple assumption that shareholders take the form of owners of the companies of which they are members and the question of what mode of publication and dissemination of annual reports, whether electronic or hard copy remains their exclusive preserve. However, a case is made for a more cost-effective means of carrying out companies’ disclosure obligation through the vehicle of social media and electronic means.

  1. Publication and dissemination of Annual Reports to shareholders in Nigeria and the United Kingdom: The Economics of Social Media and Electronic Communication

    Olagoke Kuye


    While the cost of printing and sending out annual reports to shareholders by companies keep increasing and arguments have been made for cheaper and cost-effective ways of carrying out financial disclosure obligations by companies including electronic method, Companies’ Acts maintain that shareholders remain the ultimate decision-maker in the question whether electronic means of publishing annual reports is to be adopted as the primary means of publishing and disseminating annual reports among...

  2. Creative director as a leader El director como líder creativo

    Paulo Felipe Quintero


    Full Text Available The current organizational dynamic in the world places universities in a relevant role to be performed in the society. Hence, the concept of “creativity” is studied from the hierarchical levels to understand the implications of completing creative processes within an organization. The creativity in the universities require management plans, which demand effort from strategic leaders to materialize and make the mission tangible to all involved actors in the organization; thus, facilitating the achievement of financial quality results, impact on entrepreneurial spirit and optimal labor climate. Subsequently, the creativity could become a strategic topic in the institutional development plans for the directors. This article shows the theoretical construction of the research Creative Abilities of Private Universities Directors in Manizales and the Relation with the Organizational Climate.La dinámica actual de las organizaciones en el mundo, pone a las universidades en unlugar relevante frente al papel que deben desempeñar en la sociedad. En este sentido, seaborda el concepto de “creatividad” tan de moda en el escenario actual, desde los nivelesjerárquicos, con el fin de entender lo que verdaderamente implica llevar a cabo procesoscreativos en una organización. La creatividad en las universidades requiere mucho másque metas en planes de gestión. Exige un esfuerzo de los líderes estratégicos, para quela misión no se quede en el papel y sea tangible para todos los actores involucradosen la empresa, y de esa manera sea el vehículo para lograr resultados de calidad en lofinanciero, impactos en el espíritu empresarial y ambientes de trabajo óptimos, de modoque la creatividad se convierta para los directores en un tema estratégico en los planesde desarrollo institucional para la excelencia en los climas de trabajo. El presente artículoresultó de la construcción teórica del trabajo de investigación


    While the theatre director can be seen as the `god of the theatre', he/she can also be seen as a priest and a carrier who must coordinate human and material resources a master and a messenger. Drawing from the above, this paper traces the evolution of play directing and the theatre director in different theatres of the world ...

  4. CERN loses two former Directors-General


    Victor Weisskopf, a giant of modern physics and Director General of CERN from 1961-65, died on 21 April. The previous month, Willibald Jentschke, Director General from 1971-75 and founder of the DESY Laboratory in Hamburg, passed away.

  5. Robert Aymar, Director-General of CERN

    Patrice Loïez


    Robert Aymar, photographed in 2003 before taking his position as Director-General at CERN, succeeding Luciano Maiani in 2004. At this time, Aymar was director of the International Thermonuclear Experimental Reactor (ITER) although he had already been involved with developments at CERN, chairing the External Review Committee, set up in 2001 in response to the increased cost of the LHC.

  6. Gender Quotas on Board of Directors

    Smith, Nina


    Beside arguments of fairness and equal opportunities, it is often argued that gender diversity on boards of directors may improve firm performance, but the empirical results are mixed and often negative. Based on the available research, gender quotas on boards of directors cannot be justified...

  7. Dr. Francis Collins Is New NIH Director

    ... Ph.D., a physician and geneticist, is the new Director of the National Institutes of Health (NIH), part of the U.S. Department of Health and Human Services. President Barack Obama nominated Dr. Collins, who served as Director of ...

  8. J. B. Adams Acting Director-General


    After the tragic death of Prof. C. J. Bakker, the Council of CERN held an emergency meeting on May 3, 1960. Following this session, Mr. F. de Rose, President of the Council of the European Organization for Nuclear Research, announced the appointment of Mr. J. B. Adams, Director of the PS division to the post of acting Director-General.

  9. Director Turnover: An Australian Academic Development Study

    Fraser, Kym; Ryan, Yoni


    Although it can be argued that directors of central academic development units (ADUs) are critical to the implementation of university teaching and learning strategies, it would appear there is a high director turnover rate. While research in the USA, the UK, and Australia illustrates that ADUs are frequently closed or restructured, that research…

  10. Predictors of Choral Directors' Voice Handicap

    Schwartz, Sandra


    Vocal demands of teaching are considerable and these challenges are greater for choral directors who depend on the voice as a musical and instructive instrument. The purpose of this study was to (1) examine choral directors' vocal condition using a modified Voice Handicap Index (VHI), and (2) determine the extent to which the major variables…

  11. Study on the ownership balance and the efficiency of mixed ownership enterprises from the perspective of heterogeneous shareholders.

    Yin, Zhujia; Liu, Lijuan; Wang, Haidong; Wen, Fengming


    Based on the database data of Chinese industrial enterprises from 2000 to 2007 and the LP method, this paper measures the total factor productivity of enterprises and investigates the effect of different mixed ownership forms on enterprises' efficiency and the effect of heterogeneous ownership balance on the mixed ownership enterprises' efficiency. The state-owned enterprise and mixed ownership enterprise are identified by the enterprise's paid-up capital. The results show that, on the whole, for the mixed ownership enterprise, the higher the diversification degree of the shareholders is, the higher the efficiency becomes, and in different types of industries, the mixed forms of shareholders have different effects on the efficiency of enterprises. The heterogeneous ownership balance and the enterprise efficiency show nonlinear U-type relationships. Both the higher and lower heterogeneous ownership balance degrees will promote the enterprise's efficiency. However, when the ownership balance degree is in the range of [0.2 0.5], the increase in ownership balance will lead to the decline of enterprise efficiency. Therefore, when introducing non-state-owned capital, state-owned enterprises should take full account of their own characteristics by rationally controlling the shareholding ratio of non-state-owned capital and play the positive role of a mixed ownership structure in corporate governance with appropriate ownership balances.

  12. New project director for Honduras.


    Miguel Machuca has been installed as project director for the Honduras Contraceptive Social Marketing Program (HCSMP). he was selected from a field of candidates with public and private sector experience in marketing, business management and program development. Machuca will direct the development of the social marketing program and work to establish a marketing function within ASHONPLAFA, the sponsoring organization for HCSMP. A major goal is to correct misinformation or lack of information about family planning methods among consumers and reatilers; for example, consumers worry about the side-effects of oral contraceptives (OCs) and many perceive subsidized products to be either experimental or discards. Easily understandable graphic package naterials are being prepared for OCs distributed through the program. Another goal is sales training. The project is scheduled to be launched in March 1984 with distribution of Perla, a standard dose OC. Radio spots and newspaper ads are being prepared to inform consumers that Perla can be purchased through pharmacies and small rural shops at the cost of US$.75/cycle. A low-dose OC, a condom and a vaginal tablet are scheduled to be added to the product line by December 1984. Market research on brand names, packaging and pricing of these products is currently being conducted. According the Machuca, his biggest challenge will be to maintain a balance between the need to comply with the policies and regulations of the various organizations involved with the HCSMP and the simultaneous need to promote and implement the entrepreneurial activities necessary to project goals.

  13. European Provisions for the Protection of Dissenting Shareholders within the Framework of Cross-border Mergers

    Hamed Alavi


    Full Text Available The European legislative framework of cross-border mergers is a result of a long process of identifying the needs of the common market, domestic laws and national businesses and bringing them closer together. From virtual impossibility of merging across national borders, to a transfer of seat, to the Cross-Border Mergers Directive private and public limited companies can now engage in a cross-border merger transaction under best harmonised rules to date. However, the diversity of national company laws leaves gaps that are not resolved on a European level - there is no harmonising instrument in the area of creditor protection and the protection of dissenting minority shareholders, among others. The CBM Directive contains a framework provision referencing the need of protection of minority members, whereas specific mechanisms are left for the Member States to implement. The question that arises is whether the status quo of minority protection is sufficient to ensure smooth functioning of the cross-border mergers framework or whether further harmonisation is required.

  14. Responsabilidad social y responsabilidad limitada en Milton Friedman. De un modelo shareholder hacia un modelo stakeholder

    Ignacio Ferrero


    Full Text Available Este artículo aborda las implicaciones de la responsabilidad limitada de las empresas en la doctrina de Milton Friedman acerca de la responsabilidad social corporativa y la obligación fiduciaria de los directivos con los shareholders. Desde que la responsabilidad limitada permite a las empresas privatizar sus beneficios mientras socializa sus pérdidas, atribuye ilegítimamente a los ejecutivos la capacidad de imponer impuestos. Esta atribución amenaza la propiedad privada y el intercambio voluntario, supuestos en los que Friedman basa su sistema. Por tanto, Friedman rechaza la responsabilidad limitada o reconsidera estos supuestos, aceptando sus consecuencias. Basándonos en sus ideas libertarias, y después de revisar toda la obra de Friedman así como la literatura relevante, se explica como la responsabilidad limitada modificaría el concepto de propiedad, obligando al directivo a incorporar el interés de todos los stakeholders en la dirección de la empresa, presentando el modelo stakeholder como la respuesta coherente y ética a la presencia de la responsabilidad limitada en las economías modernas.

  15. Americans with Disabilities Act: physician-shareholder practice groups and ADA compliance.

    Odem, Nathan; Blanck, Peter


    This article examines the application of Americans with Disabilities Act requirements to professional associations like physician practice groups. In general, employers with 15 or more full-time employees must comply with the Act. However, the definition of an employee is sometimes unclear, especially as applied to business entities commonly used by physician practice groups. A recent case decided by the United States Court of Appeals for the Ninth Circuit held that physician-shareholders of a professional corporation are employees for Americans with Disabilities Act coverage purposes. Analogous cases in other federal circuits have held differently, likening the "owners" of professional corporations to partners in a partnership, who are not considered employees. Similar questions arise for popular business entities, such as Limited Liability Companies and Limited Liability Partnerships. This article discusses the nature of the business forms commonly used by physician practice groups and how their characteristics impact employee status for Americans with Disabilities Act coverage. It then suggests that examination is useful beyond business formation characteristics to the purpose of the Americans with Disabilities Act and other employment antidiscrimination statutes.

  16. Shareholder Value and the Performance of a Large Nursing Home Chain

    Kitchener, Martin; O'Meara, Janis; Brody, Ab; Lee, Hyang Yuol; Harrington, Charlene


    Objective To analyze corporate governance arrangements and quality and financial performance outcomes among large multi-facility nursing home corporations (chains) that pursue stakeholder value (profit maximization) strategies. Study Design To establish a foundation of knowledge about the focal phenomenon and processes, we conducted an historical (1993–2005) case study of one of the largest chains (Sun Helathcare Inc.) that triangulated qualitative and quantitative data sources. Data Sources Two main sets of information were compared: (1) corporate sources including Sun's Security Exchange Commission (SEC) Form 10-K annual reports, industry financial reports, and the business press; and (2) external sources including, legal documents, press reports, and publicly available California facility cost reports and quality data. Principal Findings Shareholder value was pursued at Sun through three inter-linked strategies: (1) rapid growth through debt-financed mergers; (2) labor cost constraint through low nurse staffing levels; and (3) a model of corporate governance that views sanctions for fraud and poor quality as a cost of business. Conclusions Study findings and evidence from other large nursing home chains underscore calls from the Institute of Medicine and other bodies for extended oversight of the corporate governance and performance of large nursing home chains. PMID:18454781

  17. Shareholding relationships in the Euro Area banking market: A network perspective

    Pecora, Nicolò; Spelta, Alessandro


    In this paper we analyze the topological properties of the network of the Euro Area banking market network, with the primary aim of assessing the importance of a bank in the financial system with respect to ownership and control of other credit institutions. The network displays power law distributions in both binary and weighted degree metrics indicating a robust yet fragile structure and a direct link between an increase of control diversification and a rise in the market power. Therefore while in good time the network is seemingly robust, in bad times many banks can simultaneously go into distress. This behavior paves the way for Central bank's actions. In particular we investigate whether the Single Supervisory Mechanism introduced by the European Central Banks and based on banks' total asset is a good proxy to quantify their systemic importance. Results indicate that not all the financial institutions with high valued total assets are systemically important but only few of them. Moreover the network structure reveals that control is highly concentrated, with few important shareholders approximately controlling a separate subset of banks.

  18. Shareholder value and the performance of a large nursing home chain.

    Kitchener, Martin; O'Meara, Janis; Brody, Ab; Lee, Hyang Yuol; Harrington, Charlene


    To analyze corporate governance arrangements and quality and financial performance outcomes among large multi-facility nursing home corporations (chains) that pursue stakeholder value (profit maximization) strategies. To establish a foundation of knowledge about the focal phenomenon and processes, we conducted an historical (1993-2005) case study of one of the largest chains (Sun Healthcare Inc.) that triangulated qualitative and quantitative data sources. Two main sets of information were compared: (1) corporate sources including Sun's Security Exchange Commission (SEC) Form 10-K annual reports, industry financial reports, and the business press; and (2) external sources including, legal documents, press reports, and publicly available California facility cost reports and quality data. Shareholder value was pursued at Sun through three inter-linked strategies: (1) rapid growth through debt-financed mergers; (2) labor cost constraint through low nurse staffing levels; and (3) a model of corporate governance that views sanctions for fraud and poor quality as a cost of business. Study findings and evidence from other large nursing home chains underscore calls from the Institute of Medicine and other bodies for extended oversight of the corporate governance and performance of large nursing home chains.

  19. Hans Blix appointed Director General


    On 1 December 1981, Dr Hans Blix took office as Director General of the International Atomic Energy Agency in succession to Dr Sigvard Eklund who has headed the IAEA since 1961. The Agency's Board of Governors nominated Dr Blix by acclamation on 26 September. His appointment was unanimously approved by the final session of the 25th regular session of the General Conference of the IAEA the same day. The President of the Conference, Ambassador Manaspas Xuto, administered the oath of office to Dr Blix at the final plenary meeting that day. Hans Blix was born in 1928 in Uppsala He studied at the University of Uppsala, at Columbia University, where he was also a research graduate and at Cambridge, where he received his Ph D In 1959 he became Doctor of Laws at the Stockholm University and in 1960 was appointed associate professor in international law. From 1963 to 1976 Dr Blix was Head of Department at the Ministry for Foreign Affairs and served as Legal Adviser on International Law. In 1976 he became Undersecretary of State at the Ministry for Foreign Affairs in charge of international development co-operation He was appointed Minister for Foreign Affairs in October 1978 In September 1979 he was again appointed Undersecretary of State at the Ministry for Foreign Affairs in charge of international development co-operation. Since 1961 he has been a member of Sweden's delegation to the United Nations General Assembly, and from 1962 to 1978 a member of the Swedish delegation to the Conference on Disarmament in Geneva. He has written several books on subjects associated with international and constitutional law and was leader of the Liberal Campaign Committee in favour of retention of the Swedish nuclear energy program in the referendum in 1980

  20. Resident Preferences for Program Director Role in Wellness Management.

    Kolarik, Russ C; O'Neal, Richard L; Ewing, Joseph A


    Burnout and depression are prevalent among resident physicians, though the supportive role of the program director (PD) is not well defined. To understand the residents' view of the residency program director's role in assessing and promoting resident wellness. A single institution survey of all house staff was conducted in 2017. Rates of burnout and depression were identified via the 2-item Maslach Burnout Inventory (MBI) and the Patient Health Questionaire-2 (PHQ-2), respectively. Residents then qualified their preferences for various assistance services and for the role of their program directors in assisting them. One-hundred sixty-one of 202 (79.7%) residents completed the survey. The rate of depression was 28%. Rates of emotional exhaustion and depersonalization (2-item MBI) were 44 and 62%, respectively. Only 4% of respondents had used the Employee Assistance Program (EAP) in the prior 12 months. Eighty-two percent of residents were in favor of PDs inquiring about wellness regardless of their job performance and only 1% of residents stated the PD should not inquire about wellness at all. Thirty-three percent of residents reported that they would be likely to contact EAP on their own if they felt unwell. Significantly more residents (62%) reported being more likely to contact EAP if recommended by their PD (33 vs 62%, p assistance were lack of time (65%), lack of knowledge of how to contact EAP (41%), and concerns about appearing weak (35%). Despite a high prevalence of burnout and depression, residents are unlikely to seek help on their own. Program directors have an important role in assessing and promoting the wellness of their residents. The majority of residents wants their PD to inquire about wellness and may be more likely to seek and receive help if recommended and facilitated by their PD.

  1. What every library director should know

    Curzon, Susan Carol


    What Every Library Director Should Know is the insider's view of vital actions, behaviors and strategies to succeed in every type of library. The content is based both on the author's direct experience after a long career in several types of libraries but also on the direct observation of other managers. Inset into the book are pearls of wisdom from other directors, managers and observers who are answering the question, "what is the one piece of management wisdom that you would give to anyone who wishes to become a library director?" This book will help to get you there by explaining and illus

  2. Investigating the Configurations in Cross-Shareholding: A Joint Copula-Entropy Approach

    Roy Cerqueti


    Full Text Available The complex nature of the interlacement of economic actors is quite evident at the level of the Stock market, where any company may actually interact with the other companies buying and selling their shares. In this respect, the companies populating a Stock market, along with their connections, can be effectively modeled through a directed network, where the nodes represent the companies, and the links indicate the ownership. This paper deals with this theme and discusses the concentration of a market. A cross-shareholding matrix is considered, along with two key factors: the node out-degree distribution which represents the diversification of investments in terms of the number of involved companies, and the node in-degree distribution which reports the integration of a company due to the sales of its own shares to other companies. While diversification is widely explored in the literature, integration is most present in literature on contagions. This paper captures such quantities of interest in the two frameworks and studies the stochastic dependence of diversification and integration through a copula approach. We adopt entropies as measures for assessing the concentration in the market. The main question is to assess the dependence structure leading to a better description of the data or to market polarization (minimal entropy or market fairness (maximal entropy. In so doing, we derive information on the way in which the in- and out-degrees should be connected in order to shape the market. The question is of interest to regulators bodies, as witnessed by specific alert threshold published on the US mergers guidelines for limiting the possibility of acquisitions and the prevalence of a single company on the market. Indeed, all countries and the EU have also rules or guidelines in order to limit concentrations, in a country or across borders, respectively. The calibration of copulas and model parameters on the basis of real data serves as an

  3. Esso Imperial Oil annual report to shareholders 2002 : positioned for growth


    Financial information from Esso Imperial Oil, one of Canada's largest producers of crude oil and natural gas, was presented and a review of their 2002 operations was made available for the benefit of shareholders. Some of the highlights of 2002 are: the total return on Imperial shares including capital appreciation and dividends was 3 per cent, compared with a net loss of 12 per cent for the Standard and Poors/TSX composite index; in the past decade, the total return on Imperial's shares have averaged 17 per cent a year, compounded; regular dividend payments increased to 84 cents a share, the eighth consecutive year of dividend growth; and, the company has purchased more than 200 million shares for $5.2 billion since 1995, reducing the number outstanding by 35 per cent. Progress in key priority areas for 2002 included a second-best year for safety performance, a successful $1.6 billion capital investment program, the expansion of the Cold Lake oil sands project, an increase of 15 per cent in polyethylene production, an increase of 3.5 per cent in retail sales of Esso gasoline, and advancement of the Mackenzie gas project. Other achievements included the development of a 170 megawatt cogeneration plant at Cold Lake that will reduce costs and greenhouse gas emissions. A 95 megawatt unit was also constructed at the Sarnia manufacturing facility. This report summarized the company's energy resource activities and presented an operations review as well as consolidated financial statements, and common share information including the accounts of Imperial Oil Inc. and its subsidiaries and the company's proportionate share of the assets, liabilities, revenues, expenses and cash flows of joint ventures. Revenue and expenditure statements were summarized by source. tabs., figs

  4. 78 FR 4435 - BLM Director's Response to the Alaska Governor's Appeal of the BLM Alaska State Director's...


    ... Bureau of Land Management (BLM) is publishing this notice to explain why the BLM Director is rejecting... Director's Response to the Alaska Governor's Appeal of the BLM Alaska State Director's Governor's... the BLM Alaska State Director. The State Director determined the Governor's Finding was outside the...

  5. Computation Directorate 2007 Annual Report

    Henson, V E; Guse, J A


    If there is a single word that both characterized 2007 and dominated the thoughts and actions of many Laboratory employees throughout the year, it is transition. Transition refers to the major shift that took place on October 1, when the University of California relinquished management responsibility for Lawrence Livermore National Laboratory (LLNL), and Lawrence Livermore National Security, LLC (LLNS), became the new Laboratory management contractor for the Department of Energy's (DOE's) National Nuclear Security Administration (NNSA). In the 55 years under the University of California, LLNL amassed an extraordinary record of significant accomplishments, clever inventions, and momentous contributions in the service of protecting the nation. This legacy provides the new organization with a built-in history, a tradition of excellence, and a solid set of core competencies from which to build the future. I am proud to note that in the nearly seven years I have had the privilege of leading the Computation Directorate, our talented and dedicated staff has made far-reaching contributions to the legacy and tradition we passed on to LLNS. Our place among the world's leaders in high-performance computing, algorithmic research and development, applications, and information technology (IT) services and support is solid. I am especially gratified to report that through all the transition turmoil, and it has been considerable, the Computation Directorate continues to produce remarkable achievements. Our most important asset--the talented, skilled, and creative people who work in Computation--has continued a long-standing Laboratory tradition of delivering cutting-edge science even in the face of adversity. The scope of those achievements is breathtaking, and in 2007, our accomplishments span an amazing range of topics. From making an important contribution to a Nobel Prize-winning effort to creating tools that can detect malicious codes embedded in commercial

  6. Facilitating Data Driven Business Model Innovation - A Case study

    Bjerrum, Torben Cæsar Bisgaard; Andersen, Troels Christian; Aagaard, Annabeth


    . The businesses interdisciplinary capabilities come into play in the BMI process, where knowledge from the facilitation strategy and knowledge from phases of the BMI process needs to be present to create new knowledge, hence new BMs and innovations. Depending on the environment and shareholders, this also exposes......This paper aims to understand the barriers that businesses meet in understanding their current business models (BM) and in their attempt at innovating new data driven business models (DDBM) using data. The interdisciplinary challenge of knowledge exchange occurring outside and/or inside businesses......, that gathers knowledge is of great importance. The SMEs have little, if no experience, within data handling, data analytics, and working with structured Business Model Innovation (BMI), that relates to both new and conventional products, processes and services. This new frontier of data and BMI will have...

  7. Directors' report and accounts 1991-1992


    This report for Scottish Hydro-Electric PLC contains details of key financial statistics, the financial calendar, the Directors' Report, the Auditors' Report, accounting policies, a Group Profit and Loss Account, balance sheets and a Group Cash Flow Statement. (UK)

  8. Regional Director | IDRC - International Development Research ...

    ... its effective utilization in the design and execution of the IDRC strategic plan. ... Provides assistance to Program Managers/Leaders, Directors of Program Areas, ... the Partnership and Business Development Division and Programs Branch.

  9. Leader in Digital Transformation: Director, Information Management ...

    As the Deputy Chief Information Officer, the Director is also accountable for developing ... operations and maintenance of key business systems (financial applications, ... Plays a key role in the control of access to personal information in e-mail ...

  10. Selected Publications by the NCI Director

    Dr. Norman Sharpless's written work on cancer research appears in many leading scientific journals, as well as a variety of other publications. This page lists some of the articles published by Dr. Sharpless since becoming NCI director.

  11. Wanted: Fermilab director who can build consensus

    Pierce, G M


    "With current Fermilab Director Michael Witherell stepping down in July 2005, an appointed committee has vowed to find a new leader who will keep the Batavia lab at the forefront of the high-energy physics field" (1 page).

  12. Alternative Perspectives on Independence of Directors

    Brennan, Niamh; McDermott, Michael


    This paper examines the issue of independence of boards of directors and non-executive directors of companies listed on the Irish Stock Exchange. Based on information published in annual reports, the study found that most Irish listed companies were complying with the Combined Code’s recommendations for a balanced board structure, albeit with only 60 per cent having majority-independent boards. The study found a lack of consistency in interpreting the definition of “independence”, a lack of d...

  13. Board Directors and Corporate Social Responsibility

    Mariana Nedelcu (Bunea


    Full Text Available The boards of directors and corporate social responsibility (CSR have been the subject of much study and debate in the corporate governance circles over the two last decades. With issues ranging from poor corporate reporting to excessive executive compensation often splashed in the headlines, the role of boards comes into the media limelight as never before. Boards of directors are also becoming increasingly aware of corporate social responsibility issues.

  14. Board Directors and Corporate Social Responsibility

    Mariana Nedelcu (Bunea)


    The boards of directors and corporate social responsibility (CSR) have been the subject of much study and debate in the corporate governance circles over the two last decades. With issues ranging from poor corporate reporting to excessive executive compensation often splashed in the headlines, the role of boards comes into the media limelight as never before. Boards of directors are also becoming increasingly aware of corporate social responsibility issues.

  15. VMware vCloud director cookbook

    Langenhan, Daniel


    VMware vCloud Director Cookbook will adopt a Cookbook-based approach. Packed with illustrations and programming examples, this book explains the simple as well as the complex recipes in an easy-to-understand language.""VMware vCloud Director Cookbook"" is aimed at system administrators and technical architects moving from a virtualized environment to cloud environments. Familiarity with cloud computing platforms and some knowledge of virtualization and managing cloud environments is expected.

  16. Secondary tax and its effect on the cost of capital and shareholder value of South African JSE listed companies

    J. H.v.H De Wet


    Full Text Available Background: The introduction of a secondary tax on companies (STC and the lowering of the normal income tax rate in 1993 constituted a dramatic change in the tax structure of South African organisations. The original intention of these changes was to encourage organisations to re-invest profits to make use of capital investment opportunities. It was also anticipated that these tax changes would lower the cost of capital of organisations. Problem investigated: Announcements during the 2007 budget again raised questions about how the proposed changes in STC would affect the value of organisations. The impact of these tax changes has been the topic of some speculation in the absence of concrete research results to date. Purpose: The purpose of this study was to investigate the effect of these tax changes and all subsequent changes since 1993 on the cost of capital and shareholder value. Approach: A model of a hypothetical company, representing the 'average' listed South African organisation was used to determine the effect of the introduction of STC and the changes to the STC and company tax rate on the cost of capital and the value of the organisation. Findings: The study found that, contrary to expectations, the tax changes actually caused the cost of capital to go up. Overall, the combined effect of the higher cost of capital and the lower company tax rate caused the theoretical value of organisations to increase, constituting an improvement of shareholder value. Value of research: It is the first local study that endeavoured to analyse and quantify the impact of the introduction of STC and the lowering of the company tax rate on the cost of capital and the value of organisations. Conclusion: The introduction of STC in and the lowering of the company tax rate in 1993, as well as changes to these two forms of taxes since then, seem to have been justified in terms of shareholder value creation.

  17. Doing well while fighting river blindness: the alignment of a corporate drug donation programme with responsibilities to shareholders.

    Hernando, Yolanda; Colwell, Kaela; Wright, Brian D


    Using the example of Merck's donations of ivermectin, to show how tax incentives and non-profit collaborators can make corporate largesse consistent with obligations to maximise returns to shareholders. We obtained information from publicly available data and estimated Merck's tax deductions according to the US Internal Revenue Code. Reviews of Merck-Kitasato contracts and personal interviews provided additional information regarding key lessons from this collaboration. Our best estimate of the direct cost to Merck of the ivermectin tablets donated during 2005-2011 is around US$ 600 million, well below the stated value of US$ 3.8 billion. Our calculation of tax write-offs reduces the net cost to around US$ 180 million in that period. Indirect market benefits and effects on goodwill further enhanced the compatibility of Merck's donation programme with the company's profit-maximising objective. The case offers lessons for effective management of collaborations with public and non-profit organisations. Merck's role in the donation of ivermectin for the treatment of onchocerciasis is widely and justly acknowledged as a prime example of corporate largesse in the public interest. It is nevertheless important to note that several public and non-profit collaborators, and United States taxpayers, played significant roles in increasing Merck's incentives, and indeed ability, to conduct the donation programme that changed so many lives in poor countries, while meeting its responsibilities to shareholders. Overall, the record indicates responsible corporate management of Merck's ivermectin programme and demonstrates the feasibility of socially responsible policies in a manner compatible with obligations to shareholders. © 2016 John Wiley & Sons Ltd.

  18. A Case Study of Letters to Shareholders in Annual Reports Before, During and After the Financial Crisis

    Dragsted, Barbara


    the first (pre-crisis) and second (during crisis) periods differ from each other mainly with respect to the themes discussed in light of the developments in external circumstances and the bank’s financial performance, the latter (post-crisis) period reflects a more fundamental shift in genre, manifested......The present study investigates changes in themes and linguistic strategies in letters to shareholders from a large Danish bank’s annual reports published before, during and after the financial crisis. It draws mainly on genre theory and uses corpus linguistics as the primary method for collecting...

  19. The Individual Limited Liability Company in the Brazilian Legal System and Portuguese Experience of Single Shareholder Private Companies

    Eugênio Duarte Vasques


    Full Text Available The scope of this essay is to analyze aspects of individual limited liability company in the Brazilian legal system, which raises the issue of the requirement of minimum capital contribution to the company’s constitution. Therefore, we seek to expose initially the historical responsibility of the individual entrepreneur, and then the current context of Portuguese single shareholder private companies. After these considerations, we focus on addressing the situation of the individual entrepreneur in Brazil and the creation of a new species of corporation that guarantees the limitation of liability to the individual entrepreneur in a manner similar to the Portuguese experience.

  20. When a Thousand Words Are (Not Enough: An Empirical Study of the Relationship between Firm Performance and Attention to Shareholders

    Luciana Carvalho de Mesquita Ferreira


    Full Text Available The aim of this study is to concurrently test the explanatory power of the attention-based view (ABV of the firm and of the resource dependence theory (RDT. We propose a conceptual model of attention to shareholders based on assumptions of both ABV and RDT. We test these hypotheses using a unique dataset, consisting of contentanalyzed data on attention allocation for 313 firms from 24 different countries. Our research findings highlight the complementary nature of the RDT and ABV and add to the literature about attention, providing empirical evidence and theoretical explanation for the scarcely explored relationship between firm performance and organizational attention.

  1. 2011 Computation Directorate Annual Report

    Crawford, D L


    From its founding in 1952 until today, Lawrence Livermore National Laboratory (LLNL) has made significant strategic investments to develop high performance computing (HPC) and its application to national security and basic science. Now, 60 years later, the Computation Directorate and its myriad resources and capabilities have become a key enabler for LLNL programs and an integral part of the effort to support our nation's nuclear deterrent and, more broadly, national security. In addition, the technological innovation HPC makes possible is seen as vital to the nation's economic vitality. LLNL, along with other national laboratories, is working to make supercomputing capabilities and expertise available to industry to boost the nation's global competitiveness. LLNL is on the brink of an exciting milestone with the 2012 deployment of Sequoia, the National Nuclear Security Administration's (NNSA's) 20-petaFLOP/s resource that will apply uncertainty quantification to weapons science. Sequoia will bring LLNL's total computing power to more than 23 petaFLOP/s-all brought to bear on basic science and national security needs. The computing systems at LLNL provide game-changing capabilities. Sequoia and other next-generation platforms will enable predictive simulation in the coming decade and leverage industry trends, such as massively parallel and multicore processors, to run petascale applications. Efficient petascale computing necessitates refining accuracy in materials property data, improving models for known physical processes, identifying and then modeling for missing physics, quantifying uncertainty, and enhancing the performance of complex models and algorithms in macroscale simulation codes. Nearly 15 years ago, NNSA's Accelerated Strategic Computing Initiative (ASCI), now called the Advanced Simulation and Computing (ASC) Program, was the critical element needed to shift from test-based confidence to science-based confidence

  2. School directors and management in education

    Srdić Vesna M.


    Full Text Available The main features of school management and organization comprise planning, decision making, management, leadership and communication. Research suggests that successful school management requires not only advanced managerial but also leadership skills, with highly developed social skills as the main competence. In a complex social system, good leadership becomes a fundamental component of a successful organization or institution. Although leadership has for a long time been of interest for theoreticians and practitioners alike, there are still numerous questions waiting to be answered in the area of management and leadership in education. According to the Law on the Basis of Educational System, the person who can be named a school director must posses appropriate education, competences, license and experience in education. Legal requirements allow the provision of effective training, but the fact that personal disposition can be both an advantage and an obstacle for acquiring necessary items of knowledge and skills, points to the necessity of including selection into the standard procedure for the election of a director. Democratization and decentralization of the educational system presupposes a series of structural, systemic and functional changes which reflect on school management and the role played by the director. This paper considers responsibilities and competences of directors, both in legislation and in school practice and addresses the question whether a school director is a manager or a leader, and what are the possibilities for the provision of professional resources for school management.

  3. A Midwest utility's perspective of DSM [demand-side management]: Balancing the needs of customers, shareholders and the environment

    Collins, G.F.


    PSI Energy, a predominately coal-burning Indiana electric utility, is very concerned about the environment and is using demand-side management (DSM) as part of a strategy to balance the sometimes conflicting interests of the environment, the economy, customers and shareholders. Faced with slow growth within its service territory, an abundance of low-cost, high sulfur coal burning baseload capacity, massive future expenditures for acid rain mitigation and a weakened financial state due to a cancelled nuclear project, PSI Energy has taken a novel approach to preserving value for customers, shareholders, the economy and environment. To accomodate Indiana's goal of least cost utility planning, PSI initiated an all-source bidding program in which it solicited bids for peaking capacity or the equivalent. Four parallel but separate solicitations were pursued: combustion turbine manufacturers for PSI owned and operated capacity, other utilities and non-utility generators for purchased power and third parties for demand-side management. PSI's philosophy with respect to bidding can be expressed as: simplicity, flexibility, creativity, partnerships, expeditious and fairness. There is a minimum bid of 5 MW of summer peak demand reduction, and the minimum contract length is 10 years. The entire 550 MW capacity block available to be filled in the program is open to demand-side resources. The ten major evaluation criteria involved in the program are: price, sponsor qualifications, operational impact, marketing plan, technology, financing plan, verification and measurement, form of security, project management plan, and project cost estimates

  4. The rights of shareholders – basic principle of corporate governance by means of case-specific jurisprudence

    Adrian Doru BÎGIOI


    Full Text Available Respecting shareholders’ rights represents one of the fundamental principles of corporate governance, underpinning the establishment of economic entities, as a form of association of individuals and / or legal entities in order to carry out profit-oriented activities. However, there are situations in which the management, the other shareholders, or even the authorities, do not respect certain shareholders’ rights, leading to a number of negative effects, such as the closing of companies. Based on these considerations, in this paper, we set as research objective to analyze the circumstances, which may affect shareholders’ rights. To meet the research objectives, we analyzed the case-specific jurisprudence published by the courts of law till 31st of December 2015. The results of the study show that the shareholders’ rights, which are not respected, include: the property right, the right to receive dividends, the right to participate and vote in the general assemblies of shareholders, the right to be elected in the governing bodies, and not the least, the most important one in accounting terms, the right to be informed.

  5. 16 CFR 1000.27 - Directorate for Health Sciences.


    ... 16 Commercial Practices 2 2010-01-01 2010-01-01 false Directorate for Health Sciences. 1000.27... AND FUNCTIONS § 1000.27 Directorate for Health Sciences. The Directorate for Health Sciences is managed by the Associate Executive Director for Health Sciences and is responsible for reviewing and...

  6. 16 CFR 1000.29 - Directorate for Engineering Sciences.


    ... 16 Commercial Practices 2 2010-01-01 2010-01-01 false Directorate for Engineering Sciences. 1000... ORGANIZATION AND FUNCTIONS § 1000.29 Directorate for Engineering Sciences. The Directorate for Engineering Sciences, which is managed by the Associate Executive Director for Engineering Sciences, is responsible for...

  7. 30 CFR 282.10 - Jurisdiction and responsibilities of Director.


    ... part and are under the jurisdiction of the Director: Exploration, testing, and mining operations... 30 Mineral Resources 2 2010-07-01 2010-07-01 false Jurisdiction and responsibilities of Director... Jurisdiction and Responsibilities of Director § 282.10 Jurisdiction and responsibilities of Director. Subject...

  8. 16 CFR 1000.26 - Directorate for Epidemiology.


    ... 16 Commercial Practices 2 2010-01-01 2010-01-01 false Directorate for Epidemiology. 1000.26... AND FUNCTIONS § 1000.26 Directorate for Epidemiology. The Directorate for Epidemiology, managed by the Associate Executive Director for Epidemiology, is responsible for the collection and analysis of data on...

  9. Leadership styles of hospital pharmacy directors.

    Parrett, E E; Hurd, P D; Northcraft, G; McGhan, W F; Bootman, J L


    The leadership styles of hospital pharmacy directors and the association between leadership style, participative management, and innovative pharmaceutical services were studied using a mail questionnaire. The questionnaire was sent to 570 randomly selected hospital pharmacy directors. Included were a validated instrument that measures task-oriented versus relationship-oriented leadership behavior and other questions about participation of staff members, innovative services, and respondents' personal characteristics. The response rate was 69%. The majority of respondents perceived their leadership as highly relationship-oriented as well as highly task-oriented. Respondents with the "high relationship-high task" leadership style had the highest scores for subordinate participation. There were no significant differences in scores for innovative services by leadership style. A positive correlation between scores for subordinate participation and scores for innovative services was demonstrated. Most hospital pharmacy directors used a management style in which relationships and staff participation were important.

  10. Nursing home director of nursing leadership style and director of nursing-sensitive survey deficiencies.

    McKinney, Selina H; Corazzini, Kirsten; Anderson, Ruth A; Sloane, Richard; Castle, Nicholas G


    Nursing homes are becoming increasingly complex clinical environments because of rising resident acuity and expansion of postacute services within a context of historically poor quality performance. Discrete quality markers have been linked to director of nursing (DON) leadership behaviors. However, the impact of DON leadership across all measured areas of DON jurisdiction has not been tested using comprehensive domains of quality deficiencies. The aim of this study was to examine the effects of DON leadership style including behaviors that facilitate the exchange of information between diverse people on care quality domains through the lens of complexity science. Three thousand six hundred nine DONs completed leadership and intent-to-quit surveys. Quality markers that were deemed DON sensitive included all facility survey deficiencies in the domains of resident behaviors/facility practices, quality of life, nursing services, and quality of care. Logistic regression procedures estimated associations between variables. The odds of deficiencies for all DON sensitive survey domains were lower in facilities where DONs practiced complexity leadership including more staff input and shared decisional authority. DON quit intentions were aligned with higher odds of facility deficiencies across all domains. Results supported the hypotheses that DONs using complexity leadership approaches by interacting more freely with staff, discussing resident issues, and sharing decision making produced better care outcomes from every DON sensitive metric assessed by Centers for Medicare and Medicaid Services. The mechanism linking poor quality with high DON quit intentions is an area for future research. Encouraging DON use of complexity leadership approaches has the potential to improve a broad swath of quality outcomes.

  11. Rolf-Dieter Heuer, next Director General

    CERN Council appointed Professor Rolf-Dieter Heuer to succeed Dr Robert Aymar as CERN’s Director General. Professor Heuer will serve a five-year term, taking office on 1 January 2009. Rolf-Dieter Heuer is currently Research Director for particle and astroparticle physics at Germany’s DESY laboratory in Hamburg. He was a staff member at CERN from 1984 to 1998, working for the OPAL collaboration at LEP, and from 1994 to 1998 he was the collaboration’s spokesman. See the Press Release.


    Humphry Hung


    Full Text Available The article proposes an integrative framework for the study of interlocking directorates by using an approach that encompasses the concepts of multiple networks and resource endowment. This serves to integrate the traditional views of interorganizational linkages and intra-class cohesion. Through appropriate strategic analysis of relevant resource endowment of internal environment and external networks of organizations and corporate elites, this article argues that the selection of directors, if used effectively, can be adopted as a strategic device to enhance the corporation's overall performance.

  13. 5 CFR 2638.506 - Director's recommendation.


    ... of the respondent employee's agency that appropriate disciplinary action be taken. If the respondent..., thereafter, will provide appropriate notice of the disciplinary action taken. (c) Notice of noncompliance. If the Director determines that the head of an agency has not taken appropriate disciplinary action...

  14. 50 CFR 18.91 - Director's decision.


    ... 50 Wildlife and Fisheries 6 2010-10-01 2010-10-01 false Director's decision. 18.91 Section 18.91...) TAKING, POSSESSION, TRANSPORTATION, SALE, PURCHASE, BARTER, EXPORTATION, AND IMPORTATION OF WILDLIFE AND... decision. (a) Upon receipt of the recommended decision and transcript and after the thirty-day period for...

  15. Board of directors and risk management

    van der Elst, C.F.; Birkmose, H.; Neville, M.; Sorensen, K.


    The board of directors is responsible for an appropriate business risk management environment. The paper studies in a comparative way how legislators and courts fill this duty. We question whether the legislative and regulatory framework will improve the equilibrium between entrepreneurship and risk

  16. Where Is the Next Rose Director?

    John Blundell


    Rose Friedman (née Director), the Chicago-trained economist, was a very important contributor to Milton Friedman’s scholarly output, popular writings, and television series. His remarkable role in society was to a significant extent a joint role from which she cannot be separated.

  17. IAEA Director General to Visit Iran


    Full text: IAEA Director General Yukiya Amano will travel to Tehran on 10 November 2013 to meet senior Iranian leaders on Monday, 11 November 2013, with the aim of strengthening dialogue and cooperation. Separately, as previously announced, IAEA and Iranian experts will meet in Tehran on Monday to discuss technical issues. IAEA)

  18. Foreword by the director of Bohunice NPPs


    In this foreword the director briefly describes activities of the NPP Bohunice in 1997. Main activities were: electric and heat production , the V-1 NPP Gradual Reconstruction Programme, nuclear safety programmes, environment protection, international co-operation as well as national and international public information

  19. Annual review and directors' report and accounts


    This annual report of Midlands Electricity PLC (MEB) presents a financial review of the Group and the directors' and auditors reports. Historical and current cost profit and loss accounts, balance sheets and cash flow statements are tabulated. The Group's financial history and regulatory accounts are also presented. (UK)

  20. Directors' report and accounts 1990-1991


    The Director's Report and accounts for Scottish Hydro-Electric PLC are presented for the period 1990-91. Details are given of the accounting policies, profit and loss account, balance sheet, source and application of funds and abridged current cost information. (UK)

  1. Summer Principals'/Directors' Orientation Training Module.

    Mata, Robert L.; Garcia, Richard L.

    Intended to provide current or potential project principals/directors with the basic knowledge, skills, abilities, and sensitivities needed to manage a summer migrant school project in the local educational setting, this module provides instruction in the project management areas of planning, preparation, control, and termination. The module…

  2. Board diligence, director business and corporate governance

    Saibal Ghosh


    Full Text Available The paper examines the association between financial performance and boards of non-financial firms. Using data on over 200 listed manufacturing firms in India for 2005, the findings indicate that, after controlling for various firm-specific factors, board diligence as well as director busyness exerts a positive influence on corporate performance.

  3. A Director's Guide to High School Horns.

    Conway, Collen


    Conveys that the horn (French horn) is the most difficult instrument for band and orchestra directors to teach because playing the horn requires students to have very strong aural skills. Identifies the horn specific techniques students should know, such as hand positions, alternate fingerings, and transposition. Provides different methods for…

  4. 45 CFR 1700.5 - Executive Director.


    ... 45 Public Welfare 4 2010-10-01 2010-10-01 false Executive Director. 1700.5 Section 1700.5 Public Welfare Regulations Relating to Public Welfare (Continued) NATIONAL COMMISSION ON LIBRARIES AND..., recommendation and implementation of overall plans and policies to achieve the Commission's goals. (d) To...

  5. VMware vCloud Director essentials

    Pal, Lipika


    If you are a technical professional with system administration knowledge, then this book is for you. The book also covers areas of importance if you are a virtualization engineer, consultant, architect, senior system engineer, or senior system analyst. You should possess core vSphere platform knowledge necessary to serve as a base to learn vCloud Director and its associated components.

  6. Do international acquisitions by emerging-economy firms create shareholder value? The case of Indian firms

    Gubbi, Sathyajit R.; Aulakh, Preet S.; Ray, Sougata; Sarkar, M. B.; Chittoor, Raveendra

    While overseas acquisitions by emerging-economy firms are gaining increased attention from the business press, our understanding of whether and why this inorganic mode of international expansion creates value to acquirer firms is limited. We argue that international acquisitions facilitate

  7. Visual explorer facilitator's guide

    Palus, Charles J


    Grounded in research and practice, the Visual Explorer™ Facilitator's Guide provides a method for supporting collaborative, creative conversations about complex issues through the power of images. The guide is available as a component in the Visual Explorer Facilitator's Letter-sized Set, Visual Explorer Facilitator's Post card-sized Set, Visual Explorer Playing Card-sized Set, and is also available as a stand-alone title for purchase to assist multiple tool users in an organization.

  8. Learning facilitating leadership

    Rasmussen, Lauge Baungaard; Hansen, Mette Sanne


    This paper explains how engineering students at a Danish university acquired the necessary skills to become emergent facilitators of organisational development. The implications of this approach are discussed and related to relevant viewpoints and findings in the literature. The methodology deplo....... By connecting the literature, the authors’ and engineering students’ reflections on facilitator skills, this paper adds value to existing academic and practical discussions on learning facilitating leadership....

  9. 26 CFR 1.955A-1 - Shareholder's pro rata share of amount of previously excluded subpart F income withdrawn from...


    ... section 951(a)(1)(A)(iii) and the regulations thereunder, a United States shareholder of such controlled... (ii) The amount (if any) by which recognized losses on sales or exchanges by such corporation during... sum of (1) the controlled foreign corporation's earnings and profits (or deficit in earnings and...

  10. From great expectations to an even greater failure - the case of Montenegrin regulatory framework on shareholder derivative suits as an incentive for rethinking the concept itself

    Vladimir Savković


    Full Text Available The author utilizes a case study of Montenegrin regulatory concept of shareholder derivative suits in order to demonstrate, by comparing its features with such concepts in other legal systems and features marked as favorable factors in legal theory, that its failure, as well as the failure of derivative suits in other countries cannot be a priori considered as result of inadequate approach of the legislator. Along with some other important legal systems, shareholder derivative litigation in United States is also analyzed, since its track record shows that it is virtually the single at least relatively successful system of derivative suits so far. This analysis is made so as to distinguish the particular and in many ways unique features of the shareholder derivative litigation concept in United States that enabled the relative success of it. As result of the research conducted and analyses made, the author argues that there is an inherent flaw in the very foundation of the concept of shareholder derivative suits, which generally hinders the use of this legal mechanism. Finally, the author finds that this flaw is deeply rooted in what is known today in theory of company law as the first agency problem.

  11. Board of Directors, Top Management Team and the Developmentof Academic Spin-Off Companies

    Bjørnåli, Ekaterina S.


    This dissertation addresses the under-studied area of the role of the top management team (TMT) and board of directors in the development of academic spin-off companies (ASOs) originating from public research institutes. ASO research receives growing attention internationally following the rise in commercialization activities in the vast majority of universities. The studies identify the barriers to and facilitators of ASO formation and growth, which are related to faculty attributes and ince...

  12. Containers, facilitators, innovators?

    Makkonen, Teemu; Merisalo, Maria; Inkinen, Tommi


    : are they containers, facilitators or innovators? This is investigated here through empirical material derived from 27 interviews with top departmental management in three Finnish cities (Helsinki, Espoo and Vantaa). The results show that local city governments (LCGs) consider cities as facilitators of innovation...

  13. Training facilitators and supervisors

    Kjær, Louise Binow; O Connor, Maja; Krogh, Kristian

    At the Master’s program in Medicine at Aarhus University, Denmark, we have developed a faculty development program for facilitators and supervisors in 4 progressing student modules in communication, cooperation, and leadership. 1) A course for module 1 and 3 facilitators inspired by the apprentic...

  14. Identifying influential directors in the United States corporate governance network

    Huang, Xuqing; Vodenska, Irena; Wang, Fengzhong; Havlin, Shlomo; Stanley, H. Eugene


    The influence of directors has been one of the most engaging topics recently, but surprisingly little research has been done to quantitatively evaluate the influence and power of directors. We analyze the structure of the US corporate governance network for the 11-year period 1996-2006 based on director data from the Investor Responsibility Research Center director database, and we develop a centrality measure named the influence factor to estimate the influence of directors quantitatively. The US corporate governance network is a network of directors with nodes representing directors and links between two directors representing their service on common company boards. We assume that information flows in the network through information-sharing processes among linked directors. The influence factor assigned to a director is based on the level of information that a director obtains from the entire network. We find that, contrary to commonly accepted belief that directors of large companies, measured by market capitalization, are the most powerful, in some instances, the directors who are influential do not necessarily serve on boards of large companies. By applying our influence factor method to identify the influential people contained in the lists created by popular magazines such as Fortune, Networking World, and Treasury and Risk Management, we find that the influence factor method is consistently either the best or one of the two best methods in identifying powerful people compared to other general centrality measures that are used to denote the significance of a node in complex network theory.

  15. Identifying influential directors in the United States corporate governance network.

    Huang, Xuqing; Vodenska, Irena; Wang, Fengzhong; Havlin, Shlomo; Stanley, H Eugene


    The influence of directors has been one of the most engaging topics recently, but surprisingly little research has been done to quantitatively evaluate the influence and power of directors. We analyze the structure of the US corporate governance network for the 11-year period 1996-2006 based on director data from the Investor Responsibility Research Center director database, and we develop a centrality measure named the influence factor to estimate the influence of directors quantitatively. The US corporate governance network is a network of directors with nodes representing directors and links between two directors representing their service on common company boards. We assume that information flows in the network through information-sharing processes among linked directors. The influence factor assigned to a director is based on the level of information that a director obtains from the entire network. We find that, contrary to commonly accepted belief that directors of large companies, measured by market capitalization, are the most powerful, in some instances, the directors who are influential do not necessarily serve on boards of large companies. By applying our influence factor method to identify the influential people contained in the lists created by popular magazines such as Fortune, Networking World, and Treasury and Risk Management, we find that the influence factor method is consistently either the best or one of the two best methods in identifying powerful people compared to other general centrality measures that are used to denote the significance of a node in complex network theory.

  16. OTA director to be Clinton's science advisor

    Leath, Audrey

    President Clinton has nominated John H. “Jack” Gibbons to be Assistant to the President for Science and Technology, and director of the White House Office of Science and Technology Policy (OSTP). For over a decade, Gibbons has served as director of the Office of Technology Assessment (OTA), a bipartisan research arm of Congress.In nominating Gibbons, Clinton said, “I am delighted to appoint a brilliant scientist and gifted administrator… It is profoundly important that the president have a science advisor who understands science, who understands technology, who understands the practical application of these disciplines to the myriad of problems we face today. And I can tell you that from [Vice-president] Al Gore on down to every other member of Congress I have discussed John Gibbons with, I have hardly ever received more glowing and more consistent recommendations for anyone.”

  17. What competencies should directors possess? Malaysia perspective

    Wan Fauziah Wan Yusoff


    Full Text Available Directors’ competencies are seeing to be of importance to corporate governance. As this issue has not yet being studied extensively in Malaysia, this study determines the key competencies of Malaysian company’s directors using qualitative approach involving two stages of Delphi Technique. In the first stage all information pertaining to directors’ competences in the literature had been reviewed. In the second stage, the key competencies identified in stage one were the criteria for developing a semi structured questionnaire. Participants were asked to rank the competencies in term of their importance for directors’ performance. Based on personel interviews with 41 participants eight types of competencies were found to be essential for Malaysian companies’ directors. Financial competencies received the highest responses, followed by corporate planning, business forecasting, legal, risk management, marketing, human resource and international business. This paper provides important evidence to support the conclusions drawn from the study about the importance of relevant directors’ competencies for board and corporate effectiveness.

  18. IAEA Director General welcomes NPT consensus


    The document informs that the Director General of the IAEA welcomed the adoption with consensus by the Review Conference of the Parties to the Treaty on the Non-Proliferation of Nuclear Weapons of the final document on the review and operation of the Treaty, and that he was pleased by the vote of confidence shown in the IAEA and its role in the implementation of the Treaty

  19. OSG Director reports on grid progress

    Pordes, Ruth


    "In this Q&A from the Open Science Grid (OSG), executive director Ruth Prodes provides a brief history of the OSG, an overview of current projects and partners, and a glimpse at future plans, including how the recent $30 million award from the ODE's office of Science and the NSF will be employed. She also shares her thoughts of SC, saying the personal contacts are the best part."(4,5 pages)

  20. Diversity of what? Multifaceted Boards and Directors

    A. Hillman; S. Nielsen; A. Zattoni


    Board diversity has long intrigued practitioners and scholars. Constituents encourage companies to vary of director characteristics, but companies often resist. Academics debate whether diversity is beneficial for board decision-making and the empirical evidence is mixed, partly because “diversity” is treated as a singular construct despite representing many different forms (e.g. demographic, human capital and social capital). We propose a theoretical model of board diversit...

  1. UNC Cancer Center Director to Lead NCI.


    President Donald Trump has selected Norman "Ned" Sharpless, MD, director of the University of North Carolina Lineberger Comprehensive Cancer Center, to lead the NCI. The news was met with widespread approval among cancer researchers, who view Sharpless as a strong communicator who can ably represent the needs of the cancer community in the face of proposed funding cuts. ©2017 American Association for Cancer Research.

  2. Hospital management's linchpin: the medical director.

    Cohn, R E


    The practice of medicine has become increasingly complex in this era of diagnosis-related groups (DRGs) and other direct government involvement in health care; complex and seemingly inappropriate legal decisions; liability chaos; and increasing competition from peers, entrepreneurs, and other health care organizations. In this new environment, an old player, the medical director (vice president of medical affairs) has been given new visibility and increased responsibilities to help physicians live with and overcome these environmental factors. In showing how the medical director can be of assistance in putting these factors into perspective, it is helpful to take a look at some aspects of the history of medicine, analyze the education process for physicians, point out where the profession began to be driven off course, and identify some of the overall problems of the profession and of the health care field. It is my intent here to project the position of medical director as a vital, frequently missing, link in the attempt to maximize communications, understanding, and achievement in health care organizations.

  3. Administrative behavior of directors in hospitals: the Israeli case.

    Stern, Z; Schmid, H; Nirel, N


    This article presents research findings on the behavior of directors in hospitals in Israel. According to the findings, hospital directors devote most of their time to internal organization processes and less time to the management of the external organizational environment. The findings also reveal that the orientation of these directors is toward centralization of authority and concentration of the decision-making process.

  4. 12 CFR 918.2 - Annual directors' compensation policy.


    ... § 918.3. At a minimum, such policy shall address the activities or functions for which attendance is... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Annual directors' compensation policy. 918.2... HOME LOAN BANKS BANK DIRECTOR COMPENSATION AND EXPENSES § 918.2 Annual directors' compensation policy...

  5. 7 CFR 2.95 - Director, Office of Ethics.


    ... 7 Agriculture 1 2010-01-01 2010-01-01 false Director, Office of Ethics. 2.95 Section 2.95... Administration § 2.95 Director, Office of Ethics. The Director, Office of Ethics, shall be the USDA Alternate Agency Ethics Official, pursuant to 5 CFR 2638.202, and shall exercise the authority reserved to the...

  6. Weerts to lead Physical Sciences and Engineering directorate | Argonne

    Physical Sciences and Engineering directorate By Lynn Tefft Hoff * August 10, 2015 Tweet EmailPrint Hendrik Engineering (PSE) directorate at the U.S. Department of Energy's Argonne National Laboratory. Weerts has , chemistry, materials science and nanotechnology. Weerts joined Argonne in 2005 as director of Argonne's High

  7. Health Risks Faced by Public School Band Directors

    Woolery, Danielle N.; Woolery, Jesse A.


    Public school band directors face many work-related hazards in their grueling, yet rewarding job. As a school year progresses, directors are expected to work long hours, while trying to balance professional and personal responsibilities. A band director whose career spans multiple decades can potentially face a number of serious medical problems.…

  8. 30 CFR 732.11 - Review by the Director.


    ... proposed State program, the Director shall publish in the Federal Register and in a newspaper of general... determined by the Director and published in the Federal Register notice required by paragraph (a). (2) When... 30 Mineral Resources 3 2010-07-01 2010-07-01 false Review by the Director. 732.11 Section 732.11...

  9. Study on Shareholder Related Loans's Impact to the Commercial Banks Development%股东关联贷款对商业银行发展的影响研究



    股东关联贷款对商业银行发展的影响与银行贷款危机密不可分。文中分析了股东关联贷款与银行贷款危机之间的关系,着重就股东关联贷款对商业银行影响进行研究,并提出了防范和降低商业银行股东关联贷款风险的政策建议。%The shareholder loans of commercial banks related development impact of the crisis and bank loans are inseparable.This article analyzes association between the shareholder loans and the crisis of bank loan,focusing on shareholder loans of commercial banks association,and proposed to prevent and reduce the risk of commercial bank lending policies related shareholder proposals.

  10. An Unexplored Facet of International Business in Greece: Foreign and Diaspora Shareholders in Joint Stock Company Start-Ups, 1833-1920

    Ioanna Sapfo Pepelasis


    Full Text Available This paper focuses on an unexplored aspect of the history of international business in Greece, the presence of international shareholders in Greek Joint stock company start-ups. Our main findings are that these investors participated in numerous such firms usually as minority shareholders in capital and or knowledge intensive firms. Rarely did they opt for the exclusive international ownership of a joint stock company in Greece and the dividing line  between foreign direct investment and foreign portfolio investment was not always clear. It is also the case that international capital inflow into the nascent corporate sector involved a mosaic of collaborating actors including not only the foreign but also the diasporic.


    Zbigniew Korzeb


    Full Text Available The objective of the paper is to analyse the influence of information about economic and financial problems of strategic shareholders upon the market value of commercial banks operating in the Polish banking sector. The analysis included fourteen such cases from the years 2007-2014. The results clearly indicate that investors consider the foundations of the operation of commercial banks in Poland to be very solid. Problems of strategic shareholders led to only slight depreciation of the banks’ securities quoted at the Warsaw Stock Exchange in the period directly after publication of the information. Investors decided that problems of parent companies were unlikely to threaten the stability of banks operating in the Polish banking sector.

  12. The effects of return on investment, sales growth rate, volatility of investment, cash flow and structure of institutional shareholders on the ratio of debt to equities

    Jalal Golmohammadi


    Full Text Available This paper presents a study to measure the effects of return on investment, sales growth rate, volatility investment, cash flow and structure of institutional shareholders on the ratio of debt to equities. The study selects 102 firms listed on Tehran Stock Exchange and, using regression technique with Panel data, examines five different hypotheses over the period 2008-2012. The results indicate that there was a negative and meaningful relationship between return of investment and the ratio of debt to equities and a positive and meaningful relationship between sales growth and the ratio of debt to equities. Moreover, there were positive and meaningful relationships between volatility of investment as well as cash flow and the ratio of debt to equities. Finally, the survey has indicated that there was a negative and meaningful relationship between the structure of institutional shareholders and the ratio of debt to equities.

  13. A new director for Arts@CERN

    CERN Bulletin


    On 2 March 2015, Mónica Bello will take the reins of the Arts@CERN programme. A few days before taking over the new job, the curator and art critic talked to the CERN Bulletin about her interest in arts and science, her motivations for the job, and her plans for the future of the programme.   Mónica Bello. “The exciting nature of CERN almost demands an artistic programme like Arts@CERN,” says Mónica, former artistic director of VIDA (one of the most important competitions in digital and new media arts worldwide), who has recently been appointed as the new director of the Arts@CERN programme. “The programme is unique as it provides the artist not only with resources, but also with interesting scientific topics and a natural way for the artists to become involved. Thanks to this programme, artists can come to CERN, bring their individuality, and really benefit from the sharing experience with scientists.” Mónica,...

  14. An interview with the Director-General

    James Gillies


    At its March meeting, the Council took the step of extending Rolf Heuer’s mandate until the end of 2015. What can we expect from the extra two years?   Extensions to Director-General’s mandates are few and far between, with the last being for Herwig Schopper, who served an eight-year term in the 1980s. For Rolf Heuer, the proposal was raised by the Belgian delegation, so we asked delegate Walter Van Doninck why the Council felt that circumstances warranted an extension now. “We felt that the LHC's first long shutdown needed management continuity, given the important nature of the work to be carried out,” he explained. “That’s why we proposed extending the mandate of the current Director-General.” James Gillies spoke to Professor Heuer to find out what he plans to achieve with the extra time. James Gillies: First of all, how do you feel about your time in office so far? Rolf Heuer: I feel I’m about midwa...

  15. Coal export facilitation

    Eeles, L.


    There is a wide range of trade barriers, particularly tariffs, in current and potential coal market. Commonwealth departments in Australia play a crucial role in supporting government industry policies. This article summarises some of more recent activities of the Department of Primary Industries and Energy (DPIE) in facilitating the export of Australian Coals. Coal export facilitation activities are designed to assist the Australian coal industry by directing Commonwealth Government resources towards issues which would be inappropriate or difficult for the industry to address itself

  16. Corporate Cash Holdings and Shareholder Risk : Investigating the relationship between corporate cash holdings and the risk of stocks listed on the Stockholm Stock Exchange

    Olausson, Jonas; Löfgren, Christoffer


    Corporate cash holdings is a topic constantly under review, companies hoarding cash are criticized by shareholders who rather have companies using their cash for new investments or dividend payouts. Recent academic research has discovered that levels of cash holding are high in times when risk is deemed to be high and found that levels of corporate cash holdings are substantially higher than they used to, making more coverage and a better understanding of the phenomenon crucial. This thesis i...


    Hinrichsen, Anna Verena


    The present dissertation deals with selected aspects of corporate governance and personnel management and provides an in-depth analysis of capital markets’ perception of these issues and the effects on shareholder wealth. Subjects of the investigation are the role and effects of gender diversity on corporate boards and female leadership, CEO overconfidence and corporate layoff decisions. Chapter 2 offers a comprehensive overview of existing research on the effects of an increased female ...

  18. An Examination of Shareholders Wealth Effects of Mergers and Acquisitions in Short Term: The Evidences from U.S. Public Target Acquisitions

    Han, Jin


    This paper examines the shareholders wealth effects in short run of U.S. domestic public target acquirers using alternative payment methods from 2001 to 2005, providing insights into what can learn from the stock abnormal returns to public target acquirers when they announcing an acquisition. At a first level the study documents that, in short run, public target acquirers significantly lose value. This result is robust after controlling for acquirer firm size (large/small) and bidder’s book-t...

  19. Research on the relationships of the domestic mutual investment of China based on the cross-shareholding networks of the listed companies

    Ma, Yuan-yuan; Zhuang, Xin-tian; Li, Ling-xuan


    Enterprises are the core power and the carriers to promote the country's economy developing sustainably and rapidly; the listed enterprises are the outstanding companies which can represent the economic level at the places where the enterprises are located, so we establish the cross-shareholding networks of the listed companies between 2002 and 2009, and then analyze the mutual investment at company-level, province-level and region-level. We have researched the overall trend of economic development and the overall tendency of capital flow of China in the recent 8 years based on the cross-shareholding networks, the influence of a global economic crisis on the stock markets and the overall economics of China in 2008 and the recovery of the economy after the economic crisis. Moreover, we analyze the variations of the cross-shareholding networks and the influence of the state-owned large and medium enterprises listing frequently on Chinese stock markets. We divide the provinces of China into 3 main categories according to their industrial situations. Though the analysis, we find that the wealth gap between the different areas is not significantly reduced even though the government has carried out strategies such as the Development of the West Regions and the Rejuvenation of Old Industrial Bases in Northeastern China. We analyze the cumulative distribution function of the degree of the vertices and use large amounts of data to do empirical analysis. The methods used include the hierarchical cluster analysis, regression analysis, etc.

  20. The Relevance of Tag along Rights and Identity of Controlling Shareholders for the Price Spreads between Dual-Class Shares: the Brazilian Case

    Richard Saito


    Full Text Available This paper analyzes the determinants of the differential pricing of equity classes (the so-called dual-class premium [DCP] in Brazil from 1995 to 2006 with a focus on two specific corporate governance aspects: i the granting of tag along rights, a mandatory bid rule that extends to minority shareholders the right to sell their shares in case of a control transfer; and ii the identity of the controlling shareholders, with an emphasis on family control. We examined 87 Brazilian listed firms throughout the period, resulting in a sample of 3,287 observations. We found empirical evidence that changes in Corporate Law decreased (increased the advantage of voting shares in terms of tag along rights reduced (incremented DCP. However, we did not find empirical evidence that the voluntary granting of tag along rights altered DCP. We also found evidence suggesting that family control is positively associated with DCP level. Overall, our results indicate that regulations regarding shareholders’ rights and the identity of controlling shareholders are the two relevant corporate governance variables for DCP level in environments characterized by concentrated ownership structures.


    Roxana - Mihaela CATEA


    Full Text Available The purpose of this paper is to provide a brief analysis of the legal framework regarding the procedural and substantial dispositions governing the claim for the annulment of the resolutions of the general meeting of shareholders. The main objective is to render a practical tool both to stakeholders and third parties who are interested in the legal means available for blocking the implementation of any measures which are contrary to the company’s interest. Further to the amendments brought through the New Civil Procedural Code, the claim for annulment of the resolutions of the general assembly must be analyzed from a procedural point of view, as well as from a substantial standpoint. The shareholders must be aware of the grounds for challenging a general assembly's resolution to properly safeguard their rights. One common issue which is invoked as grounds for annulment is the abuse of majority of the majority shareholder. However, the difficulty of alleging such a reason is left to practitioners. Therefore, its application, although not wide, is highly imaginative.

  2. How to measure customer value and its relationship with shareholder value in a business-to-business market

    Gustavo Bermejo


    Full Text Available Intangible assets are difficult to measure, but nowadays the value of the shares of firms in the stock exchange market contains a high percentage of intangible capital and customers are one of the main intangible assets which should be evaluated. This paper presents and discusses some tools to measure the value of customers. But first, it is mandatory to define and clarify the relationships among the concepts of Customer Equity (CE, Life Time Value (LTV and Customer Relationship Management (CRM. LTV is the best financial outcome to measure customer value, so the paper reviews the literature on some mathematical models to calculate LTV. We propose an equation for LTV in order to apply it in a business-to-business market, and an analysis of the influence factors involved in it is made, focusing especially in the link between LTV and shareholder value. Finally, we propose as future lines of research, the relational equity approach as the perfect complement to the customer equity analysis and a way to estimate LTV for actual cases of publicly traded firms using published information.

  3. Asexual sporulation facilitates adaptation

    Zhang, Jianhua; Debets, A.J.M.; Verweij, P.E.; Melchers, W.J.G.; Zwaan, B.J.; Schoustra, S.E.


    Understanding the occurrence and spread of azole resistance in Aspergillus fumigatus is crucial for public health. It has been hypothesized that asexual sporulation, which is abundant in nature, is essential for phenotypic expression of azole resistance mutations in A. fumigatus facilitating

  4. Facilitators in Ambivalence

    Karlsson, Mikael R.; Erlandson, Peter


    This is part of a larger ethnographical study concerning how school development in a local educational context sets cultural and social life in motion. The main data "in this article" consists of semi-structural interviews with teachers (facilitators) who have the responsibility of carrying out a project about formative assessment in…

  5. Facilitation of Adult Development

    Boydell, Tom


    Taking an autobiographical approach, I tell the story of my experiences facilitating adult development, in a polytechnic and as a management consultant. I relate these to a developmental framework of Modes of Being and Learning that I created and elaborated with colleagues. I connect this picture with a number of related models, theories,…

  6. From Teaching to Facilitation

    de Graaff, Erik


    A shift from teaching to learning is characteristic of the introduction of Problem Based Learning (PBL) in an existing school. As a consequence the teaching staff has to be trained in skills like facilitating group work and writing cases. Most importantly a change in thinking about teaching...

  7. Trade Facilitation in Ethiopia:


    so doing, it attempts to examine how Ethiopia's WTO Accession and trade facilitation ... the more expensive imports, exports and production becomes rendering. Ethiopian ..... can reserve the right to refuse requests of importers for the fifth valuation method to ..... units may find it easier to deal with post clearance audit. In the ...

  8. 4th July 2011 - Russian Deputy Director-General Director of Directorate for Scientific and Technical Complex ROSATOM V. Pershukov in the ATLAS underground experimental area with Adviser T. Kurtyka, ATLAS Technical Coordinator M. Nessi and ATLAS Russian users.

    Maximilien Brice


    4th July 2011 - Russian Deputy Director-General Director of Directorate for Scientific and Technical Complex ROSATOM V. Pershukov in the ATLAS underground experimental area with Adviser T. Kurtyka, ATLAS Technical Coordinator M. Nessi and ATLAS Russian users.

  9. Teaching geriatric fellows how to teach: a needs assessment targeting geriatrics fellowship program directors.

    Rivera, Veronica; Yukawa, Michi; Aronson, Louise; Widera, Eric


    The entire healthcare workforce needs to be educated to better care for older adults. The purpose of this study was to determine whether fellows are being trained to teach, to assess the attitudes of fellowship directors toward training fellows to be teachers, and to understand how to facilitate this type of training for fellows. A nine-question survey adapted from a 2001 survey issued to residency program directors inquiring about residents-as-teachers curricula was developed and administered. The survey was issued electronically and sent out three times over a 6-week period. Of 144 ACGME-accredited geriatric fellowship directors from geriatric, internal medicine, and family medicine departments who were e-mailed the survey, 101 (70%) responded; 75% had an academic affiliation, 15% had a community affiliation, and 10% did not report. Academic and community programs required their fellows to teach, but just 55% of academic and 29% of community programs offered teaching skills instruction as part of their fellowship curriculum; 67% of academic programs and 79% of community programs felt that their fellows would benefit from more teaching skill instruction. Program directors listed fellow (39%) and faculty (46%) time constraints as obstacles to creation and implementation of a teaching curriculum. The majority of fellowship directors believe that it is important for geriatric fellows to become competent educators, but only approximately half of programs currently provide formal instruction in teaching skills. A reproducible, accessible curriculum on teaching to teach that includes a rigorous evaluation component should be created for geriatrics fellowship programs. © 2014, Copyright the Authors Journal compilation © 2014, The American Geriatrics Society.

  10. 2015 Science Mission Directorate Technology Highlights

    Seablom, Michael S.


    The role of the Science Mission Directorate (SMD) is to enable NASA to achieve its science goals in the context of the Nation's science agenda. SMD's strategic decisions regarding future missions and scientific pursuits are guided by Agency goals, input from the science community including the recommendations set forth in the National Research Council (NRC) decadal surveys and a commitment to preserve a balanced program across the major science disciplines. Toward this end, each of the four SMD science divisions -- Heliophysics, Earth Science, Planetary Science, and Astrophysics -- develops fundamental science questions upon which to base future research and mission programs. Often the breakthrough science required to answer these questions requires significant technological innovation, e.g., instruments or platforms with capabilities beyond the current state of the art. SMD's targeted technology investments fill technology gaps, enabling NASA to build the challenging and complex missions that accomplish groundbreaking science.

  11. Nanotechnology Concepts at MSFC: Engineering Directorate

    Bhat, Biliyar; Kaul, Raj; Shah, Sandeep; Smithers, Gweneth; Watson, Michael D.


    Nanotechnology is the art and science of building materials and devices at the ultimate level of finesse: atom by atom. Our nation's space program has needs for miniaturization of components, minimization of weight and maximization of performance, and nanotechnology will help us get there. MSFC - Engineering Directorate (ED) is committed to developing nanotechnology that will enable MSFC missions in space transportation, space science and space optics manufacturing. MSFC-ED has a dedicated group of technologists who are currently developing high pay-off nanotechnology concepts. This poster presentation will outline some of the concepts being developed at this time including, nanophase structural materials, carbon nanotube reinforced metal and polymer matrix composites, nanotube temperature sensors and aerogels. The poster will outline these concepts and discuss associated technical challenges in turning these concepts into real components and systems.

  12. Results of the Association of Directors of Radiation Oncology Programs (ADROP) Survey of Radiation Oncology Residency Program Directors

    Harris, Eleanor; Abdel-Wahab, May; Spangler, Ann E.; Lawton, Colleen A.; Amdur, Robert J.


    Purpose: To survey the radiation oncology residency program directors on the topics of departmental and institutional support systems, residency program structure, Accreditation Council for Graduate Medical Education (ACGME) requirements, and challenges as program director. Methods: A survey was developed and distributed by the leadership of the Association of Directors of Radiation Oncology Programs to all radiation oncology program directors. Summary statistics, medians, and ranges were collated from responses. Results: Radiation oncology program directors had implemented all current required aspects of the ACGME Outcome Project into their training curriculum. Didactic curricula were similar across programs nationally, but research requirements and resources varied widely. Program directors responded that implementation of the ACGME Outcome Project and the external review process were among their greatest challenges. Protected time was the top priority for program directors. Conclusions: The Association of Directors of Radiation Oncology Programs recommends that all radiation oncology program directors have protected time and an administrative stipend to support their important administrative and educational role. Departments and institutions should provide adequate and equitable resources to the program directors and residents to meet increasingly demanding training program requirements.

  13. 23rd October 2010 - UNESCO Director-General I. Bokova signing the Guest Book with CERN Director for Research and Scientific Computing S. Bertolucci and CERN Director-General R. Heuer.

    Maximilien Brice


    CERN-HI-1010244 37: in the SM18 hall: Ms Jasmina Sopova, Communication Officer J. Sopova; Director, Division of Basic & Engineering Sciences M. Nalecz, Assistant Director-General for the Natural Sciences G. Kalonji; Former CERN Director-General H. Schopper, CERN Head of Education R. Landua; UNESCO Director-General I. Bokova; CERN Adviser M. Bona; CERN Director for Research and Scientific Computing S. Bertolucci and UNESCO Office in Geneva Director Luis M. Tiburcio.

  14. Postdramatic Theatre of Director Christoph Marthaler

    Arina R. Shevchenko


    Full Text Available The present paper deals with the main tendencies of modern European theatre represented in the creativity of a famous Swiss director Christoph Marthaler. Drama and theatre of the end of the 20th – the beginning of the 21st century were exposed to radical transformation. This change has been reflected in the theory of postdramatic theatre. A contemporary theatre is becoming more visual. Nowadays natural theatrical synthesis of various arts – visual, plastic, verbal, musical becomes an intersection of all kinds of artistic and medial practices as it has never been before. The new drama and theatre decline mimesis as the main principle of attitude to reality, they do not depict and do not reflect life, but strive to create a magic and/or ritual space of performative living and a special type of communication with audience. These peculiarities of modern theatre get a vivid evocation in the works of Christoph Marthaler. Having entered into theatre from music, the director creates his own unique language of art. The article proves that Marthaler’s works are an individual model of postdramatic theatre. The author concludes that its main distinctive feature is to blur the border between musical and dramatic performance. Marthaler does not stage the play – the images appear from musical phrases, fleeting impressions, observations and dramatic improvisations. The analysis enables to claim that the theatre in a real process of performance replaces the mimetic acting today. The applied principles of drama analysis can be used in studying of the other contemporary postdramatic theatre’s models.


    Mohammed Belal UDDIN


    Full Text Available When firms engage in cooperative efforts, interfirm relations get particular interest to be studied. A direct interlock occurs when an executive or director of one firm sits on the board of another firm, and an indirect interlock occurs when two firms have directors or executives who sit on the board of a third firm. The three commonly used theoretical models such as social network theory, learning theory, and theory of strategic choice are more relevant for the formation and management of interlocking directorates. Uncertainty, resource scarcity, mutual trust, dependency, etc. influence the formation of interlocking directorates. Consequently, interlocking directorates allow sharing of information and overall cooperation between partners through learning, collaboration, networking, and effective relationship, etc. Proper management of interlocking directorates requires communication and collaboration among partners that enhance exchange of knowledge and cooperation.

  16. Misleading outside directors in public companies – The Israeli case

    David A. Frenkel


    Full Text Available The external directors, who serve by law on the board of directors, are responsible for ensuring that, in addition to protecting the interests of stakeholders, the company will take the public interest into consideration. In this research we critically assess this system of corporate governance, and examine whether the external directors can actually succeed in looking out for the public’s interest. The research is based on in-depth interviews with external directors of leading public companies in Israel, representing different sectors. The issue at stake is both conceptual and practical: Conceptually there is an issue of how the notion of "the public interest" is understood and whether the legal construct of "outside directors" is capable of manifesting the public interest. Practically the issue at stake has to do with organisational sociology and how the relations within the Board are set and who are the outside directors.

  17. Council appoints CERN’s next Director General

    Maximilien Brice


    On 14 December 2007, CERN Council appointed Professor Rolf-Dieter Heuer to succeed Dr Robert Aymar as CERN Director General. Professor Heuer will serve a five-year term, taking office on 1 January 2009. From Left to right: Dr Robert Aymar, current CERN Director General, Professor Torsten Åkesson, President of CERN Council, and Professor Rolf-Dieter Heuer, CERN's next Director General.

  18. Female Institutional Directors on Boards and Firm Value

    Pucheta Martínez, María Consuelo; Bel Oms, Inmaculada; Olcina Sempere, Gustau


    The aim of this research is to examine what impact female institutional directors on boards have on corporate performance. Previous research shows that institutional female directors cannot be considered as a homogeneous group since they represent investors who may or may not maintain business relations with the companies on whose corporate boards they sit. Thus, it is not only the effect of female institutional directors as a whole on firm value that has been analysed, but also the impact of...

  19. Laser facilitates vaccination

    Ji Wang


    Full Text Available Development of novel vaccine deliveries and vaccine adjuvants is of great importance to address the dilemma that the vaccine field faces: to improve vaccine efficacy without compromising safety. Harnessing the specific effects of laser on biological systems, a number of novel concepts have been proposed and proved in recent years to facilitate vaccination in a safer and more efficient way. The key advantage of using laser technology in vaccine delivery and adjuvantation is that all processes are initiated by physical effects with no foreign chemicals administered into the body. Here, we review the recent advances in using laser technology to facilitate vaccine delivery and augment vaccine efficacy as well as the underlying mechanisms.

  20. Facilitating Learning at Conferences

    Ravn, Ib; Elsborg, Steen


    The typical conference consists of a series of PowerPoint presentations that tend to render participants passive. Students of learning have long abandoned the transfer model that underlies such one-way communication. We propose an al-ternative theory of conferences that sees them as a forum...... for learning, mutual inspiration and human flourishing. We offer five design principles that specify how conferences may engage participants more and hence increase their learning. In the research-and-development effort reported here, our team collaborated with conference organizers in Denmark to introduce...... and facilitate a variety of simple learning techniques at thirty one- and two-day conferences of up to 300 participants each. We present ten of these techniques and data evaluating them. We conclude that if conference organizers allocate a fraction of the total conference time to facilitated processes...

  1. Mindfulness for group facilitation

    Adriansen, Hanne Kirstine; Krohn, Simon


    In this paper, we argue that mindfulness techniques can be used for enhancing the outcome of group performance. The word mindfulness has different connotations in the academic literature. Broadly speaking there is ‘mindfulness without meditation’ or ‘Western’ mindfulness which involves active...... thinking and ‘Eastern’ mindfulness which refers to an open, accepting state of mind, as intended with Buddhist-inspired techniques such as meditation. In this paper, we are interested in the latter type of mindfulness and demonstrate how Eastern mindfulness techniques can be used as a tool for facilitation....... A brief introduction to the physiology and philosophy of Eastern mindfulness constitutes the basis for the arguments of the effect of mindfulness techniques. The use of mindfulness techniques for group facilitation is novel as it changes the focus from individuals’ mindfulness practice...

  2. Management and Use of Director, Operational Test and Evaluation Funds


    .... The reorganization disestablished the functions of the Director, Test, Systems Engineering, and Evaluation, within the Office of Under Secretary of Defense for Acquisition, Technology, and Logistics...

  3. 12 CFR 905.10 - Board of Directors.


    ... the five directors may belong to the same political party. (2) Responsibilities. The Board of..., functioning and organization of the Finance Board; (iii) Ensuring effective coordination and communication...

  4. Professional Socialisation of Valuers: Program Directors Perspective

    Page, Geoff


    An examination of the professional socialisation process is critical in changing the way graduates are trained and how they are supported post graduation. This article summarises key mechanisms to facilitate socialisation from recent socialisation studies undertaken in the fields of medicine, physical therapy nursing, occupational therapy, and…

  5. Enhancing shareholder value: Making a more compelling energy efficiency case to industry by quantifying non-energy benefits

    Pye, M.; McKane, A.


    This paper describes a more compelling case for industry to promote the non-energy benefits of energy efficiency investments. They do this in two ways to actively appeal to chief executive officers' (CEOs') and chief financial officers' (CFOs') primary responsibility: to enhance shareholder value. First, they describe the use of a project-by-project corporate financial analysis approach to quantify a broader range of productivity benefits that stem from investments in energy-efficient technologies, including waste reduction and pollution prevention. Second, and perhaps just as important, they present such information in corporate financial terms. These standard, widely accepted analysis procedures are more credible to industry than the economic modeling done in the past because they are structured in the same way corporate financial analysts perform discounted cashflow investment analyses on individual projects. Case studies including such financial analyses, which quantify both energy and non-energy benefits from investments in energy-efficient technologies, are presented. Experience shows that energy efficiency projects' non-energy benefits often exceed the value of energy savings, so energy savings should be viewed more correctly as part of the total benefits, rather than the focus of the results. Quantifying the total benefits of energy efficiency projects helps companies understand the financial opportunities of investments in energy-efficient technologies. Making a case for investing in energy-efficient technologies based on energy savings alone has not always proven successful. Evidence suggests, however, that industrial decision makers will understand energy efficiency investments as part of a broader set of parameters that affect company productivity and profitability

  6. Los directores aprendiendo de sus maestros

    Manuel Ortega Muñoz


    Full Text Available El presente artículo de investigación está enmarcado dentro de la línea de indagación Aprendizaje para la Gestión y versa sobre los principales aprendizajes que han adquirido los directivos de educación básica del estado de Durango, México, para el mejor ejercicio de su función. Desde un estudio de narrativa, se recopilaron historias de 16 directores de educación primaria estatal pertenecientes a la zona escolar 24 del sector educativo no. 1 de la Secretaría de Educación Pública. El análisis de los datos se llevó a cabo mediante la herramienta de análisis de información cualitativa Atlas ti versión 7.5. Los hallazgos de la investigación muestran que los principales aprendizajes que los directivos de educación básica del estado de Durango, México han adquirido de sus maestros para el mejor ejercicio de su función son dos: a el trabajo en equipo, del cual se desprenden componentes como una eficaz y eficiente organización del trabajo, el trabajar siempre en colaboración y tener la mejor de las actitudes para trabajar; y b el liderazgo compartido, aspecto en que se perciben elementos como el óptimo manejo y resolución de conflictos, el liderazgo y la toma de decisiones en conjunto por parte del colectivo escolar. Abstract This research paper, framed within the line of inquiry Learning Management, deals with the main lessons that have acquired the management of basic education in the state of Durango, Mexico, for the best performance of their duties, from a study of narrative histories of 16 directors of state primary education outside the school zone 24 the education sector 1 of the Ministry of Education. The data analysis was performed using the computer statistical package you Atlas ti version 7.5. The research findings show that there are two main lessons that have acquired the management of basic education in the state of Durango, Mexico from their teachers for the better performance of their function: a teamwork

  7. Facilitation as a teaching strategy : experiences of facilitators

    E Lekalakala-Mokgele


    Full Text Available Changes in nursing education involve the move from traditional teaching approaches that are teacher-centred to facilitation, a student centred approach. The studentcentred approach is based on a philosophy of teaching and learning that puts the learner on centre-stage. The aim of this study was to identify the challenges of facilitators of learning using facilitation as a teaching method and recommend strategies for their (facilitators development and support. A qualitative, explorative and contextual design was used. Four (4 universities in South Africa which utilize facilitation as a teaching/ learning process were identified and the facilitators were selected to be the sample of the study. The main question posed during in-depth group interviews was: How do you experience facilitation as a teaching/learning method?. Facilitators indicated different experiences and emotions when they first had to facilitate learning. All of them indicated that it was difficult to facilitate at the beginning as they were trained to lecture and that no format for facilitation was available. They experienced frustrations and anxieties as a result. The lack of knowledge of facilitation instilled fear in them. However they indicated that facilitation had many benefits for them and for the students. Amongst the ones mentioned were personal and professional growth. Challenges mentioned were the fear that they waste time and that they do not cover the content. It is therefore important that facilitation be included in the training of nurse educators.

  8. Essence: Facilitating Software Innovation

    Aaen, Ivan


      This paper suggests ways to facilitate creativity and innovation in software development. The paper applies four perspectives – Product, Project, Process, and People –to identify an outlook for software innovation. The paper then describes a new facility–Software Innovation Research Lab (SIRL......) – and a new method concept for software innovation – Essence – based on views, modes, and team roles. Finally, the paper reports from an early experiment using SIRL and Essence and identifies further research....

  9. Family and Provider/Teacher Relationship Quality: Director Measure

    Administration for Children & Families, 2015


    The director measure is intended for use with program directors in center-based, family child care, and Head Start/Early Head Start settings for children from birth through five years old. This measure asks respondents general questions about the early childhood education environment, the children enrolled in the program, and how the program…

  10. Do Director Networks Help Manager Plan and Forecast Better?

    Schabus, M.

    I examine whether directors' superior access to information and resources through their board network improves the quality of firms' planning and forecasting. Managers may benefit from well-connected directors as, even though managers have firm specific knowledge, they may have only limited insight

  11. Veterinary Technician Program Director Leadership Style and Program Success

    Renda-Francis, Lori A.


    Program directors of American Veterinary Medical Association (AVMA) accredited veterinary technician programs may have little or no training in leadership. The need for program directors of AVMA-accredited veterinary technician programs to understand how leadership traits may have an impact on student success is often overlooked. The purpose of…

  12. 7 CFR 2.36 - Director, Office of Communications.


    ... are made by the Secretary of Agriculture to Director, Office of Communications: (1) Related to public...) Organize and direct the activities of a public affairs office to include press relations of the secretary... 7 Agriculture 1 2010-01-01 2010-01-01 false Director, Office of Communications. 2.36 Section 2.36...

  13. 50 CFR 11.13 - Decision by the Director.


    ... 50 Wildlife and Fisheries 1 2010-10-01 2010-10-01 false Decision by the Director. 11.13 Section 11..., POSSESSION, TRANSPORTATION, SALE, PURCHASE, BARTER, EXPORTATION, AND IMPORTATION OF WILDLIFE AND PLANTS CIVIL PROCEDURES Assessment Procedure § 11.13 Decision by the Director. Upon expiration of the period required or...

  14. Food Recall Attitudes and Behaviors of School Nutrition Directors

    Grisamore, Amber; Roberts, Kevin R.


    Purpose/Objectives: The purpose of this study was to explore school nutrition directors' attitudes and behaviors about food recalls. Specific objectives included: 1) Determine current food recall attitudes and the relationship between demographics and these attitudes; 2) Determine current practices of school nutrition directors related to…

  15. 78 FR 69927 - SJI Board of Directors Meeting, Notice


    ... STATE JUSTICE INSTITUTE SJI Board of Directors Meeting, Notice AGENCY: State Justice Institute. ACTION: Notice of meeting. SUMMARY: The SJI Board of Directors will be meeting on Monday, December 9, 2013 at 1:00 p.m. The meeting will be held at the 9th Judicial Circuit of Florida in Orlando, Florida...

  16. The Managerial Roles of Academic Library Directors: The Mintzberg Model.

    Moskowitz, Michael Ann


    A study based on a model developed by Henry Mintzberg examined the internal and external managerial roles of 126 New England college and university library directors. Survey results indicate that the 97 responding directors were primarily involved with internal managerial roles and work contacts. (CDD)

  17. Continuous director-field transformation of nematic tactoids

    Prinsen, P.; Schoot, van der P.P.A.M.


    We theoretically investigate the director field inside spindle-shaped nematic droplets, known as tactoids. Tactoids typically form in dispersions of rod-like colloidal particles. By optimising the bulk elastic and surface energies, we find that the director field crosses over smoothly from a

  18. 76 FR 58303 - Regular Board of Directors Meeting; Sunshine Act


    ..., Washington, DC 20005. STATUS: Open. CONTACT PERSON FOR MORE INFORMATION: Erica Hall, Assistant Corporate... Directors Minutes III. Approval of the Special Board of Directors Minutes IV. Approval of the Corporate Administration Committee Minutes V. Approval of the Finance, Budget and Program Committee Minutes VI. Approval of...

  19. 19 CFR 146.2 - Port director as Board representative.


    ...; DEPARTMENT OF THE TREASURY (CONTINUED) FOREIGN TRADE ZONES General Provisions § 146.2 Port director as Board representative. The appropriate port director shall be in charge of the zone as the representative of the Board. [T.D. 86-16, 51 FR 5049, Feb. 11, 1986, as amended by T.D. 99-27, 64 FR 13676, Mar. 22, 1999] ...

  20. Creating the Vision: Directors Don't Do It Alone.

    Carlisle, Barbara; Drapeau, Don


    Argues that good directors are not as autocratic and individualistic as they are often portrayed. Suggests that theater is much more of an ensemble effort. States that good theater grows out of the performers' desire to reach the audience. Articulates guidelines for the teacher or theater director who wishes to change "I" to…

  1. CEA nuclear energy Directorate - Activity report 2012


    After an overview of the activities of the Directorate at the international level, of its scientific activities, and of the consideration given to quality, and a presentation of the transverse program on advanced materials, this report proposes presentations of activities in different domains: future nuclear industrial systems (reactors of 4. generation, back-end of the future cycle, sustainable management of nuclear materials, fundamental scientific and technological research), optimization of the present industrial nuclear activity (reactors of 2. and 3. generation, front-end and back-end of the fuel cycle), the main tools for nuclear development (numerical simulation, the Jules Horowitz reactor), valorisation, economic support of Haute-Marne and Meuse territories (the Syndiese project), nuclear dismantling and decontamination (dismantling projects, projects and works in Fontenay-aux-Roses, Grenoble and Saclay, waste and material flow management, nuclear service facilities, transports). It also presents the activities of some specific CEA centres like Marcoule (R and D in fuel cycle), Cadarache (future energies) and Saclay (nuclear sciences and simulation of reactors and fuel cycle)

  2. JSC Director's Discretionary Fund 1992 Annual Report

    Jenkins, Lyle (Compiler)


    Annual report of the Johnson Space Center Director's Discretionary Fund documenting effective use of resources. The $1,694,000 funding for FY92 was distributed among 27 projects. The projects are an overall aid to the NASA mission, as well as providing development opportunities for the science and engineering staff with eventual spinoff to commercial uses. Projects described include space-based medical research such as the use of stable isotopes of deuterium and oxygen to measure crew energy use and techniques for noninvasive motion sickness medication. Recycling essentials for space crew support is conducted in the Regenerative Life Support and the Hybrid Regenerative Water Recovery test beds. Two-phase fluid flow simulated under low-gravity conditions, hypervelocity particle impact on open mesh bumpers, and microcalorimetry to measure the long-term hydrazine/material compatibility were investigated. A patent application was made on a shape-memory-alloy release nut. Computer estimate of crew accommodations for advanced concepts was demonstrated. Training techniques were evaluated using multimedia and virtual environment. Upgrades of an electronic still camera provide high resolution images from orbit are presented.

  3. The long-term benefits of director stock ownership

    Brian Bolton


    Full Text Available In October 2009, the United States Treasury Department and Congress considered new regulations requiring executives and directors to receive much of their compensation in the form of long-term stock. One concern with this is that it may have negative consequences by entrenching managers and directors over the long term. This study compares the potential benefits of long-term director ownership with the potential costs of entrenchment. Using the dollar amount of stock owned by independent directors, the results suggest that the incentive effect dominates any costs related to entrenchment: firms with greater stock ownership outperform other firms, regardless of the degree of managerial entrenchment that may be present. The implication for policy-makers is that providing directors with incentives through stock ownership can be a very effective corporate governance mechanism.

  4. Director Experience and the Performance of IPOs: Evidence from Sweden

    Anders Isaksson


    Full Text Available private to public. In this paper the experience of directors is examined to determine the extent of the role they play in ensuring a successful listing. Unique data from 122 IPOs on the Swedish Stock Exchange have been examined in a search for the effect of director experience on aftermarket performance. Specific aspects of director experience within a board, such as interlocking directorships and average tenure, are connected to the underpricing of Swedish IPOs. Contrary to expectations, no statistically significant relationship was found between long-run aftermarket performance and director experience at the time of an IPO. This suggests that the previous experience of directors, as measured in earlier studies, is less relevant to long-term aftermarket performance in Sweden compared to other countries studied in the literature review. This emphasises the importance of examining different institutional contexts.

  5. Characteristics of CEOs and corporate boards with women inside directors

    Deborah Dahlen Zelechowski


    Full Text Available Women corporate inside (executive directors constitute an elite minority of leaders of large corporations. This study examines the characteristics of CEOs and boards of Fortune 1000 firms that had women who held the dual leadership positions of corporate director and executive officer in 1998 in order to determine whether firms with women insiders had substantially different characteristics than firms without. We find that compared with firms without women inside directors, firms with women inside directors were characterized by CEOs with longer board tenure, more family ties, and fewer director interlocks, and by boards that were larger, with more insiders, and that utilize a management Chair of the board. Corporate governance implications are drawn for the presence of women at the top of the executive hierarchy.

  6. Auditor’s Risk Assessment of Independent Directors in Nigeria

    Salau Abdulmalik


    Full Text Available The objective of this study is to investigate the external auditor’s risk assessment of independent directors in Nigeria. The study utilized data from 94 non-financial listed companies on the Nigerian Stock Exchange for the periods 2008-2013. The study used cross-sectional time-series feasible generalized least square regression, which account for heteroscedasticity and autocorrelation to test the influence independent non-executive director on auditor pricing decision in Nigeria. Our result indicates that the proportion of independent non-executive director has a positive relationship with audit fees, suggesting that this class of directors is priced high by the Nigerian auditors. These findings have both policy and practical implication on corporate governance. For instance, future regulatory reforms could consider collaborative board model instead of the insistence on more independent director presence in the boardroom.

  7. NMR of bicelles: orientation and mosaic spread of the liquid-crystal director under sample rotation

    Zandomeneghi, Giorgia; Tomaselli, Marco; Williamson, Philip T.F.; Meier, Beat H.


    Model-membrane systems composed of liquid-crystalline bicellar phases can be uniaxially oriented with respect to a magnetic field, thereby facilitating structural and dynamics studies of membrane-associated proteins. Here we quantitatively characterize a method that allows the manipulation of the direction of this uniaxial orientation. Bicelles formed from DMPC/DHPC are examined by 31 P NMR under variable-angle sample-spinning (VAS) conditions, confirming that the orientation of the liquid-crystalline director can be influenced by sample spinning. The director is perpendicular to the rotation axis when Θ (the angle between the sample-spinning axis and the magnetic field direction) is smaller than the magic angle, and is parallel to the rotation axis when Θ is larger than the magic angle. The new 31 P NMR VAS data presented are considerably more sensitive to the orientation of the bicelle than earlier 2 H studies and the analysis of the sideband pattern allows the determination of the orientation of the liquid-crystal director and its variation over the sample, i.e., the mosaic spread. Under VAS, the mosaic spread is small if Θ deviates significantly from the magic angle but becomes very large at the magic angle

  8. Facilitators to Promoting Health in Schools: Is School Health Climate the Key?

    Lucarelli, Jennifer F.; Alaimo, Katherine; Mang, Ellen; Martin, Caroline; Miles, Richard; Bailey, Deborah; Kelleher, Deanne K.; Drzal, Nicholas B.; Liu, Hui


    Background: Schools can promote healthy eating in adolescents. This study used a qualitative approach to examine barriers and facilitators to healthy eating in schools. Methods: Case studies were conducted with 8 low-income Michigan middle schools. Interviews were conducted with 1 administrator, the food service director, and 1 member of the…

  9. Facilitating Knowledge Sharing

    Holdt Christensen, Peter

    knowledge sharing is to ensure that the exchange is seen as equitable for the parties involved, and by viewing the problems of knowledge sharing as motivational problems situated in different organizational settings, the paper explores how knowledge exchange can be conceptualized as going on in four...... distinct situations of exchange denominated organizational exchange yielding extrinsic rewards, organizational exchange yielding intrinsic rewards, financial exchange, and social exchange. The paper argues that each situation of exchange has distinct assumptions about individual behaviour...... and the intermediaries regulating the exchange, and facilitating knowledge sharing should therefore be viewed as a continuum of practices under the influence of opportunistic behaviour, obedience or organizational citizenship behaviour. Keywords: Knowledge sharing, motivation, organizational settings, situations...

  10. The Day-to-Day Reality of Teacher Turnover in Preschool Classrooms: An Analysis of Classroom Context and Teacher, Director, and Parent Perspectives

    Cassidy, Deborah J.; Lower, Joanna K.; Kintner-Duffy, Victoria L.; Hegde, Archana V.; Shim, Jonghee


    The purpose of the current study is to examine teacher turnover comprehensively by triangulating the experiences of teachers, directors, parents, and children through actual, "real-time" turnover transitions. We intentionally examined turnover with a small sample size (N = 13 classrooms) to facilitate comprehensive data collection utilizing…

  11. Expert and novice facilitated modelling

    Tavella, Elena; Papadopoulos, Thanos


    , and empirically supports the claim that facilitation skills can be taught to participants to enable them to self-facilitate workshops. Differences were also found, which led to the introduction of a new dimension—‘internal versus external’ facilitation. The implications of our findings for effective training...

  12. Shareholders' agreements in Denmark

    Werlauff, Erik


    ’ agreements”) cannot bind the company within the sense of company law under the new state of law, and voting rights agreements, agreements on right of pre-emption etc. will therefore only apply at the level of contract law between the parties to the agreement. This article for European Business Law Review......The article warns that with effect from 1 March 2010, the new Danish Companies Act (on public and private limited companies) has seriously weakened the effect of shareholders’ agreements which have been entered into on Danish companies. These agreements (in the act’s new terminology: “owners...... analyses the consequences of this. Rights and duties in the owners’ agreements must now be reiterated to the greatest possible extent in the company’s articles of association so that the precepts become binding on the company and its management. Whether the parties to the owners’ agreement can be required...

  13. Liquidity and Shareholder Activism

    Norli, Øyvind; Ostergaard, Charlotte; Schindele, Ibolya


    This is the authors’ accepted, refereed and final manuscript to the article Blockholders' incentives to intervene in corporate governance are weakened by free-rider problems and high costs of activism. Theory suggests activists may recoup expenses through informed trading of target rms' stock when stocks are liquid. We show that stock liquidity increases the probability of activism but does less so for potentially overvalued rms for which privately informed blockholders may h...

  14. U.S. Senate confirms new USGS director

    Showstack, Randy

    Shortly before adjourning in October, the U.S. Senate confirmed Charles Groat as the new director of the U.S. Geological Survey. Interior Secretary Bruce Babbitt is expected to swear him in shortly as the agency's 13th director. Groat takes over from Thomas Casadevall, who has served as acting director since Gordon Eaton resigned in September 1997.Groat, an AGU member, has more than 25 years of experience in the Earth science fields, including energy and minerals resource assessment, groundwater occurrence and protection, geomorphic processes and landform evolution in desert areas, and coastal studies.

  15. Facilitating post traumatic growth

    Cox Helen


    Full Text Available Abstract Background Whilst negative responses to traumatic injury have been well documented in the literature, there is a small but growing body of work that identifies posttraumatic growth as a salient feature of this experience. We contribute to this discourse by reporting on the experiences of 13 individuals who were traumatically injured, had undergone extensive rehabilitation and were discharged from formal care. All participants were injured through involvement in a motor vehicle accident, with the exception of one, who was injured through falling off the roof of a house. Methods In this qualitative study, we used an audio-taped in-depth interview with each participant as the means of data collection. Interviews were transcribed verbatim and analysed thematically to determine the participants' unique perspectives on the experience of recovery from traumatic injury. In reporting the findings, all participants' were given a pseudonym to assure their anonymity. Results Most participants indicated that their involvement in a traumatic occurrence was a springboard for growth that enabled them to develop new perspectives on life and living. Conclusion There are a number of contributions that health providers may make to the recovery of individuals who have been traumatically injured to assist them to develop new views of vulnerability and strength, make changes in relationships, and facilitate philosophical, physical and spiritual growth.

  16. SSRI Facilitated Crack Dancing

    Ravi Doobay


    Full Text Available Choreoathetoid movement secondary to cocaine use is a well-documented phenomenon better known as “crack dancing.” It consists of uncontrolled writhing movements secondary to excess dopamine from cocaine use. We present a 32-year-old male who had been using cocaine for many years and was recently started on paroxetine, a selective serotonin reuptake inhibitor (SSRI for worsening depression four weeks before presentation. He had been doing cocaine every 2 weeks for the last three years and had never “crack danced” before this episode. The authors have conducted a thorough literature review and cited studies that suggest “crack dancing” is associated with excess dopamine. There has never been a documented case report of an SSRI being linked with “crack dancing.” The authors propose that the excess dopaminergic effect of the SSRI lowered the dopamine threshold for “crack dancing.” There is a communication with the Raphe Nucleus and the Substantia Nigra, which explains how the SSRI increases dopamine levels. This is the first documented case of an SSRI facilitating the “crack dance.”

  17. IAEA Director General to visit Libya


    reverse course is a positive development and a step in the right direction. I hope that through verification, dialogue and active engagement, all questions related to Libya's nuclear programme can be resolved and the required corrective actions taken.' The Director General added, 'This latest revelation confirms the need, in parallel with the peace process in the Middle East, for a security dialogue that aims to establish as part and parcel of the peace settlement a sustainable security structure that inter alia turns the Middle East into a zone free from nuclear and other weapons of mass destruction.' (IAEA)

  18. REP activities of the conference of radiation control program directors

    Bevill, B.


    This talk provides an overview of the activities within the Conference of Radiation Control Program Directors associated with Radiological Emergency Preparedness. Included are summaries of interactions with FEMA, with US DOE, with US FDA, and with US DOT

  19. Board Directors' Selection Process Following a Gender Quota

    Sigurjonsson, Olaf; Arnardottir, Audur Arna

    -quota selection of new board directors as well as the attitudes of board members towards the quota and perceptions of the effect of quota on processes. We incorporate a dual qualitative and quantitative methodology with in-depth interviews with 20 board directors and chairs, and a survey of 260 directors who...... companies with 50 or more employees. Thereby legislatively going further than any other country, out of the fifteen that have amended and adopted gender quota legislation. This article utilizes resource dependency and status expectations theory lenses to explore how the new legislation affected the post...... conviction. Furthermore, there are different avenues to the board. Although initial attitudes towards quotas are more negative among men than women, these attitudes decrease over time. Finally, consistent with status expectation theory, male directors are more negative than their female counterparts about...

  20. Dr. William C. Harris, Director-General, Science Foundation Ireland

    Maximilien Brice


    Pictured with Robert Eisenstein, former assistant director for mathematical and physical sciences (MPS) at the US National Science Foundation (NSF), who is spending a year at CERN as a member of the ATLAS collaboration.

  1. 75 FR 67380 - Office of the Director; Notice of Meeting


    ... of Outside Awards for ACD Approval; Biomedical Workforce Issues; ACD Stem Cell Working Group Report...: 8 a.m. to 3 p.m. Agenda: NIH Director's Report, Lasker Clinical Research Program; ACD TRND Working...

  2. 12 CFR 611.210 - Director qualifications and training.


    ... periodically updated and provided to the institution's nominating committee. (2) Each Farm Credit institution... advisor who is a financial expert. The financial advisor must report to the board of directors and be free...

  3. Llewellyn Smith, Director-General designate of CERN, discusses LHC

    Sweet, William N


    Christopher Llewellyn Smith was nominated by the Committee of Council to be Director General of CERN. He aims to pave the way for the Large Hadron Collider and utilize to the full the Large Electron-Positron machine.

  4. CERN stop-over for KEK and Fermilab Directors


    En route for a meeting of the International Committee for Future Accelerators, ICFA, held at Germany's DESY laboratory, the Directors of Japan's KEK laboratory and Fermilab in the United States had a stop-over at CERN last Wednesday 7 February. Dr Hirotaka Sugawara, Director General of Japan's high energy physics laboratory, KEK, visited the Antiproton Decelerator, AD. From left to right, Masaki Hori, member of the ASACUSA collaboration, John Eades, contact person for ASACUSA, Dr Hirotaka Sugawara, Werner Pirkl, the PS Division engineer responsible for the Radio Frequency Quadrupole decelerator in the foreground, and Kurt Hübner, CERN's Director of Accelerators. Dr Michael S. Witherell, Director of the Fermi National Accelerator Laboratory, Fermilab, visited construction sites for the LHC, ATLAS, and CMS. He is seen here with a module of the CMS hadronic calorimeter in building 186.

  5. Juan Antonio Rubio appointed as Director-General of CIEMAT


    Juan Antonio Rubio, Head of CERN's ETT unit (Education and Technology Transfer) has been appointed by the Spanish Ministry of Education and Science as the Director General of the Research Centre for Energy, Environment and Technology, CIEMAT. Dr Rubio's career began at the Spanish Nuclear Energy Commission where he held the posts of Investigator, Head of the High Energy Group and Head of Nuclear Physics and High Energy Division. Later, he was named Director of the Department of Basic Investigation and Scientific Director of the CIEMAT. In 1987 he joined CERN as Scientific Adviser to the Director General and Group Leader of the Scientific Assessment Group. Up to now, Dr Rubio has been the Head of the ETT unit, as well as Coordinator for Latin America and Commissioner for the 50th Anniversary of the Organization. He was born on 4 June 1944 in Madrid, and holds a Doctorate in Physical Sciences from the Universidad Complutense de Madrid.

  6. 22 CFR 67.2 - Board of Directors.


    ..., Washington, DC 20005-5000. (b) All major policy and funding decisions are made by the Board of Directors. The primary statement of NED's operating philosophy, general principles and priorities is contained in the...

  7. Female Directors and Firm Performance: Evidence from UK Listed Firms

    Pananda Pasaribu


    Full Text Available The impact of female directors on firm performance has lacked consistency in the previously conducted empirical studies, which may be due to the endogeneity problem, or certain characteristics (i.e. governance, industry, competition. This study examines the relationship between female directors and firm performance by addressing those problems. This study analyses all non-financial UK listed firms during the period 2004-2012 and employs several econometric models. The regression results indicate that there is little evidence that female directors have a positive and strong relationship with firm performance. But, further analysis reports that the UK’s small listed firms experience a positive significant effect, because small firms do not suffer from the problem of over-monitoring and they have more flexibility in composing their boards of directors.

  8. Thomas Sinks, Director, Office of the Science Advisor

    Biography of the Director of the Office of the Science Advisor which is responsible for is responsible for EPA’s human subject research ethics, scientific integrity, and developing cross-agency science policy guidance.

  9. Institute for Advanced Learning and Research names new executive director

    Virginia Tech News


    Virginia Tech's Institute for Advanced Learning and Research has named Liam E. Leightley as executive director, effective Oct. 6, 2008, according to Mike Henderson, chair of the institute's board of trustees.

  10. NREL Manager Elected to IREC Board of Directors

    Manager Elected to IREC Board of Directors For more information contact: Sarah Holmes Barba, 303 -275-3023 email: Sarah Barba Golden, Colo., May 14, 2001 - David Warner, manager of the Information and

  11. Independent Directors and Stakeholders Protection: A Case of Sime Darby

    Prashanth Beleya; Gopalan Raman; Charles Ramendren; Suresh Nodeson


    In today’s ever challenging corporate environment, the unfortunate events of decision making by top management has led major companies to suffer huge losses. This results and mistakes made have given a significant impact to the stake holder’s perception and raise a serious questions on the role of board of directors especially the role of independent directors. In today’s fast evolving business pace with stiff economic conditions, unethical and misjudgment in business decisions are driving th...

  12. Female Directors and Firm Performance: Evidence from UK Listed Firms

    Pasaribu, Pananda


    The impact of female directors on firm performance has lacked consistency in the previously conducted empirical studies, which may be due to the endogeneity problem, or certain characteristics (i.e. governance, industry, competition). This study examines the relationship between female directors and firm performance by addressing those problems. This study analyses all non-financial UK listed firms during the period 2004-2012 and employs several econometric models. The regression results indi...

  13. El Consejero Dominical y el Gobierno Corporativo / Institutional Directors and Corporate Governance

    Chiva Ortells, Carlos


    The aim of this research is to study the role of institutional directors in corporate governance. For this purpose, we have analysed the impact that these directors have on CEO compensation and on corporate social responsibility disclosure. Moreover, institutional directors have been classified into two groups: pressure-resistant institutional directors and pressure-sensitive institutional directors. The results show that institutional directors, as a whole, and pressure-resistant institution...

  14. Energy and Environment Directorate Status Report March 2006

    Long, J S


    The Energy and Environment Directorate (E and ED) is one of 13 directorates at Lawrence Livermore National Laboratory (LLNL), which is operated by the University of California (UC) for the U.S. Department of Energy's National Nuclear Security Administration (NNSA). We operate in the context of a national security laboratory and focus on meeting major national needs, especially from a long-term perspective. In the LLNL context, E and ED is a hybrid ''program'' and ''discipline'' directorate, combining the program development responsibilities in the national energy and environment arenas to the benefit of the entire Laboratory and also serving as the Laboratory's science base of atmospheric, earth, environmental, and energy science. This Status Report is part of the annual evaluation process required by the Department of Energy (DOE) as part of its contract with UC. The annual review typically will focus on about one third of the activities and programs of a directorate, so that the entire organization is evaluated over a three-year window. This year's review is focused on the basic science foundations for the directorate and two major program areas in the directorate, with an update from a third program. The programs for review are: (1) Earth System Science and Engineering; (2) Nuclear Systems Science and Engineering; and (3) NARAC/IMAAC update. Major questions to be addressed during this review include: (1) Are the programmatic directions appropriate? How can they be improved? (2) What actions can E and ED take to ensure success? How well poised for success are the current staff and facilities? What additions are needed? (3) What recommendations can be made to the Director and the University? This Status Report provides background information on the entire directorate including the parts of the directorate that are the focus of this year's review by the Energy and Environment Directorate Review Committee, to be held March 6-9, 2006. The following sections describe

  15. Critical Care Pharmacist Market Perceptions: Comparison of Critical Care Program Directors and Directors of Pharmacy.

    Hager, David R; Persaud, Rosemary A; Naseman, Ryan W; Choudhary, Kavish; Carter, Kristen E; Hansen, Amanda


    Background: While hospital beds continue to decline as patients previously treated as inpatients are stabilized in ambulatory settings, the number of critical care beds available in the United States continues to rise. Growth in pharmacy student graduation, postgraduate year 2 critical care (PGY2 CC) residency programs, and positions has also increased. There is a perception that the critical care trained pharmacist market is saturated, yet this has not been evaluated since the rise in pharmacy graduates and residency programs. Purpose: To describe the current perception of critical care residency program directors (CC RPDs) and directors of pharmacy (DOPs) on the critical care pharmacist job market and to evaluate critical care postresidency placement and anticipated changes in PGY2 CC programs. Methods: Two electronic surveys were distributed from October 2015 to November 2015 through Vizient/University HealthSystem Consortium, American Society of Health-System Pharmacists (ASHP), Society of Critical Care Medicine, and American College of Clinical Pharmacy listservs to target 2 groups of respondents: CC RPDs and DOPs. Questions were based on the ASHP Pharmacy Forecast and the Pharmacy Workforce Center's Aggregate Demand Index and were intended to identify perceptions of the critical care market of the 2 groups. Results: Of 116 CC RPDs, there were 66 respondents (56.9% response rate). Respondents have observed an increase in applicants; however, they do not anticipate increasing the number of positions in the next 5 years. The overall perception is that there is a balance in supply and demand in the critical care trained pharmacist market. A total of 82 DOPs responded to the survey. Turnover of critical care pharmacists within respondent organizations is expected to be low. Although a majority of DOPs plan to expand residency training positions, only 9% expect to increase positions in critical care PGY2 training. Overall, DOP respondents indicated a balance of

  16. Research leadership: should clinical directors be distinguished researchers?

    Allison, Stephen; Goodall, Amanda H; Bastiampillai, Tarun


    Clinical directors established research-led healthcare by combining research, teaching and clinical excellence within the teaching hospitals. This research culture created high clinical standards, which benefited patients, the workforce and healthcare organisations. The current paper explores this research leadership role for clinical directors. It reviews studies arising from the theory of expert leadership, which focuses on the relationship between a leader's core knowledge and organisational performance. More specifically, we examine the expert leader's research track record, the associations with their organisation's performance, and the influence of research activity on clinical excellence. Distinguished researchers still lead the most prestigious teaching hospitals and the most trusted departments of psychiatry in the United States where the clinical directorate structure originated. It is also known that good scholars can improve research output when appointed to leadership positions. This suggests that the clinical director's research track record should be a consideration at a time when research is being embedded in Australia's local health networks. A clinical director's leadership may influence the research performance of their department and contribute to the quality of mental healthcare. © The Royal Australian and New Zealand College of Psychiatrists 2015.

  17. Concentração de votos e acordo de acionistas: influências sobre o conservadorismo Voting rights concentration and shareholders agreement: influences on conservatism

    Alfredo Sarlo Neto


    concentration and the shareholders agreement, are associated with the conditional conservatism proposed by Basu (1997. This association was founded on the effects of entrenchment and enforcement. Considering that the degree of conservatism of a firm is tied to the incentives arising from mechanisms that reduce the informational risk to stakeholders, this study was developed on the following research question: What is the influence of both the voting rights concentration and shareholders agreement on the degree of conservatism in the companies listed on Bovespa? The main goal of this work is to deal with factors not yet considered in the (national and international literature produced in this line of research, and provides evidence about the influence of ownership structure on conservatism in the Brazilian market, which is marked by a, agency conflict between controlling shareholders (controller and minority shareholders. The sample of the paper comprises 617 observations of non-financial companies traded on Bovespa during the period from 2000 to 2008. Alternatively, another sample was selected, disregarding the observations for 2008, as a means to remove the effects of the financial crisis registered that year. The evidences indicate that the voting rights concentration contributes to decrease the degree of conservatism, while, on the other hand, the stockholders agreement contributes to an increase. Alternatively, the results considered in the global crisis year distort the Basu model (1997. The researchers hope this study contributes for investors, regulators, researchers and analysts to understand the function of accounting information in companies' governance process.

  18. Potential of Field Education as Signature Pedagogy: The Field Director Role

    Lyter, Sharon C.


    In light of the assertion that field education is the signature pedagogy of social work education, this Internet-based study explores field director demographics and questions the fulfillment of this potential, examining BSW and MSW field education through the lens of the field director position. Field directors (159) and deans/directors (150)…

  19. Female directors and real activities manipulation: Evidence from China

    Jin-hui Luo


    Full Text Available Unlike previous studies that focus on accrual-based earnings management, this study analyzes real activities manipulation and investigates whether female directors on boards of directors (BoDs affect managers’ real activities manipulation. Using a large sample of 11,831 firm-year observations from Chinese listed companies from the 2000 to 2011 period, we find that higher female participation on BoDs is associated with lower levels of real activities manipulation, and that this negative relationship is stronger when female directors have higher ownership. These results hold for a battery of robustness checks. Overall, our findings indicate that board gender diversity may serve as a substitute mechanism for corporate governance to curb real activities manipulation and thus provide interested stakeholders with higher quality earnings reports.

  20. Why so few Women on Boards of Directors?

    Smith, Nina; Parrotta, Pierpaolo


    This paper analyzes the determinants of women’s representation on boards of directors based on a panel of all privately owned or listed Danish firms with at least 50 employees observed during the period 1998–2010. We focus on the directors who are not elected by the employees and test three...... nonemployee-elected female board members. We also find clear evidence of a tokenism behavior in Danish companies. The likelihood of enlarging the share of non-employee-elected female board members is significantly smaller if one, two, or more women have sat on the board of directors. Finally, the pipeline...... suggests that an important way to increase the female proportion of non-employee-elected board members is that more women reach top executive positions....

  1. The medical director and the use of power: limits, challenges and opportunities.

    Gabel, Stewart


    The organizational leadership in mental health agencies frequently resides in executives who are not psychiatrists and who may or may not have clinical backgrounds. Psychiatrists who are medical directors (MDs) of organizations with this structure are responsible for the success of the clinical programs, but are subordinate to the executive director (ED). The MD/ED relationship therefore is an example of the complexities and challenges of a relationship in which supervisor and supervisee have different types of power, but are mutually dependent on each other for the organization's success. Clarity and differentiation of the types of power of the MD and ED can be helpful in determining appropriate boundaries and facilitating a cooperative relationship that allows the organizational mission to be well served. Raven's model of the bases of social power (French and Raven, Studies in Social Power, 1959; Raven, Analyses of Social Issues and Public Policy 8(1):1-22, 2008) provides a useful framework to explore this relationship and the challenges and opportunities inherent in it.

  2. Surgeon Involvement in Pre-Clinical Medical Education: Attitudes of Directors of Education

    Simon Turner


    Full Text Available Background: Application rates to surgical residencies have shown a downward trend recently. Introducing students to surgeons early in medical school can increase interest in surgery as a career and enhance the instruction of important surgical topics. Directors of undergraduate medical education have unique insight and influence regarding the participation of surgeons in pre-clinical education. Methods: To understand the attitudes of these educators towards surgeons as teachers in pre-clinical programs, a survey was administered to the directors of undergraduate medical education at each of the English-language medical schools in Canada. Results: Educators estimate the participation of surgeons in all categories of pre-clinical education to be low, despite being valuable, and think that it should be increased. The most significant barrier to participation identified was a lack of surgeons’ time. Conclusions: Despite the value of surgeons participating in pre-clinical education, their rate of participation is low. Steps should be taken to facilitate the involvement of surgeons in this phase of education, which may lead to improved education for students and increased student interest in surgery residencies.

  3. Perspectives of Australian nursing directors regarding educational preparation for mental health nursing practice.

    Happell, Brenda; McAllister, Margaret


    There is an ongoing global shortage of mental health nurses. Within Australia, the principal strategy of offering a postgraduate education programme with various incentives to encourage nurses back to study has not been successful. This has led to the consideration of radical alternatives, including the return to pre-registration specialisation in mental health. The successful introduction of this strategy would require the full support of industry partners. To date, the voice of industry has not been heard in relation to this issue. The aim of this paper is to present the views of an Australian sample of mental health nursing directors regarding the resources and other factors required, should undergraduate specialist programmes in mental health be developed, to ensure they are relevant and likely to be successful. A qualitative exploratory research project was undertaken to explore the perspectives and opinions of industry partners. In-depth interviews were conducted with nursing directors (n = 12) in Queensland Australia. Five main themes were identified: relationships with universities; clinical placement preparation and support; workplace culture; facilitators and preceptors; and practical student learning. Genuine collaboration between the two organisations was considered crucial for delivering a quality programme and providing the required support for students. Transformative leadership could inform this collaboration by promoting acknowledgement of and respect for differences.

  4. Burnout and Resiliency Among Family Medicine Program Directors.

    Porter, Maribeth; Hagan, Helen; Klassen, Rosemary; Yang, Yang; Seehusen, Dean A; Carek, Peter J


    Nearly one-half (46%) of physicians report at least one symptom of burnout. Family medicine residency program directors may have similar and potentially unique levels of burnout as well as resiliency. The primary aims of this study were to examine burnout and resiliency among family medicine residency directors and characterize associated factors. The questions used were part of a larger omnibus survey conducted by the Council of Academic Family Medicine (CAFM) Educational Research Alliance (CERA) in 2016. Program and director-specific characteristics were obtained. Symptoms of burnout were assessed using two single-item measures adapted from the full Maslach Burnout Inventory, and level of resiliency was assessed using the Brief Resilience Scale. The overall response rate for the survey was 53.7% (245/465). Symptoms of high emotional exhaustion or high depersonalization were reported in 27.3% and 15.8% of program directors, respectively. More than two-thirds of program directors indicated that they associated themselves with characteristics of resiliency. Emotional exhaustion and depersonalization were significantly correlated with never having personal time, an unhealthy work-life balance, and the inability to stop thinking about work. The presence of financial stress was significantly correlated with higher levels of emotional exhaustion and depersonalization. In contrast, the level of resiliency reported was directly correlated with having a moderate to great amount of personal time, healthy work-life balance, and ability to stop thinking about work, and negatively correlated with the presence of financial stress. Levels of emotional exhaustion, depersonalization, and resiliency are significantly related to personal characteristics of program directors rather than characteristics of their program.

  5. Fabiola Gianotti signs her contract as CERN's new Director- General

    Antonella Del Rosso


    Today, 12 December 2014, Fabiola Gianotti signed her five-year contract as the new CERN Director-General. Her mandate will begin on 1 January 2016.   Fabiola Gianotti (left) and President of CERN Council Agnieszka Zalewska (right) after the signature of the contract.   The Italian physicist, Fabiola Gianotti was appointed as the Organization’s next Director-General at the 173rd Closed Session of the CERN Council on 4 November. The appointment was formalised this week at the December session of Council. More news from this week Council meetings can be found here.

  6. 2D director calculation for liquid crystal optical phased array

    Xu, L; Zhang, J; Wu, L Y


    A practical numerical model for a liquid crystal cell is set up based on the geometrical structure of liquid crystal optical phased arrays. Model parameters include width and space of electrodes, thickness of liquid crystal layer, alignment layers and glass substrates, pre-tilted angles, dielectric constants, elastic constants and so on. According to electrostatic field theory and Frank-Oseen elastic continuum theory, 2D electric potential distribution and 2D director distribution are calculated by means of the finite difference method on non-uniform grids. The influence of cell sizes on director distribution is analyzed. The fringe field effect between electrodes is also discussed

  7. Mergers and acquisitions: director and consultant liability exposure.

    Waxman, J M


    Corporate directors and their consultants must make decisions in an uncertain and changing health care environment. The losses each may face as a result of an incomplete analysis of the true value of the entities involved in mergers or acquisitions may extend beyond the failure of the transaction to the creation of personal liability as well. Accordingly, objective, careful, detailed, and fair decision-making based upon adequate information is more critical than ever for directors if they are to be able to take advantage of the business judgment rule, and also for consultants to avoid their own liability when transactions fail to deliver the values they have estimated.

  8. Draft IAEA Action Plan on Nuclear Safety. Report by the Director General

    Amano, Y.


    In accordance with paragraphs 23 and 24 of the Declaration adopted by the Ministerial Conference on Nuclear Safety held on 20-24 June 2011, the Director General was requested to prepare and present to the Board of Governors and the General Conference at their September 2011 meetings a report on the Ministerial Conference and a draft Action Plan, building on the Ministerial Declaration, the conclusions and recommendations of the working sessions of the Ministerial Conference and the expertise and knowledge available therein, and to facilitate consultations among Member States on the draft Action Plan. This draft Action Plan is the result of an extensive process of consultations with Member States and responds to the request contained in the Ministerial Declaration.

  9. Assuming the mantle of leadership: issues and challenges for directors of nursing.

    Fleming, Mary Louise; Kayser-Jones, Jeanie


    This ethnographic study investigated leadership from the perspective of directors of nursing (DONs) in proprietary nursing homes. Data from interviews and extensive participant observation with 10 DONs were analyzed using open coding and content analysis. The study drew on a priori concepts from transformational leadership theory to describe the role, DON approaches to leadership, and factors that facilitate or impede leadership in nursing homes. This article reports findings from a larger study related to conditions existing when participants entered the DON position. Antecedent conditions influenced organizational expectations of incoming DONs and shaped participants' leadership experiences. DONs filling long-standing vacancies had to reestablish the influence and authority of the role. Those replacing unsuccessful DONs confronted serious regulatory, care, and morale issues. In contrast, DONs with successful predecessors experienced organizational support and had confidence in their abilities to lead.

  10. Learning to Facilitate (Online) Meetings

    Reimann, Peter; Bull, Susan; Vatrapu, Ravi


    We describe an approach to teaching collaboration skills directly by building on competences for meeting facilitation. (Online) meetings provide a rich arena to practice collaboration since they can serve multiple purposes: learning, problem solving, decision making, idea generation and advancement...

  11. Facilitative root interactions in intercrops

    Hauggaard-Nielsen, H.; Jensen, E.S.


    of root architecture, exudation of growth stimulating substances, and biofumigation. Facilitative root interactions are most likely to be of importance in nutrient poor soils and in low-input agroecosystems due to critical interspecific competition for plant growth factors. However, studies from more...... nitrogen transfer between legumes and non-leguminous plants, exploitation of the soil via mycorrhizal fungi and soil-plant processes which alter the mobilisation of plant growth resources such as through exudation of amino acids, extra-cellular enzymes, acidification, competition-induced modification......Facilitation takes place when plants ameliorate the environment of their neighbours, and increase their growth and survival. Facilitation occurs in natural ecosystems as well as in agroecosystems. We discuss examples of facilitative root interactions in intercropped agroecosystems; including...

  12. On novice facilitators doing research

    Tavella, Elena


    Opportunities for novices to facilitate Problem Structuring Methods (PSMs) workshops are limited, especially because of a lack of access to real-world interventions and confidence in their capabilities. Novices are usually young academics building their careers through publishing. Publishing...... is challenging if facilitation and opportunities for data collection are limited. To address this challenge, this paper suggests autoethnography as a framework for addressing difficulties that novices face in conducting research and publishing on PSMs. This suggestion grows out of a literature study...

  13. Facilitation Skills for Library Professionals

    O'Shea, Anne; Matheson, Laura


    Session summary: Brainstorming, problem-solving, team-building and group communication – all of these things can be made easier through facilitation! Come to this fun, interactive workshop to learn techniques and exercises to boost your group meetings. Taught by two information professionals with formal facilitation training and experience, this workshop will give you theory, hands-on practice time and feedback. What participants will learn: Participants will learn techniques to he...

  14. IAEA Director General expresses satisfaction with shutdown of Chernobyl nuclear power plant


    Full text: The Director General of the International Atomic Energy Agency (IAEA), Mohamed ElBaradei, today expressed his satisfaction with the decision of the Government of Ukraine to close the Chernobyl nuclear power plant on 15 December in response to concerns about the safety of the plant. He said he very much appreciated the Ukrainian Government's commitment to maintain high levels of safety at nuclear facilities in Ukraine, which he described as being in line with the high international priority attached to the safety of nuclear facilities. The Director General noted that the year 2001 will mark the 15th anniversary of the nuclear accident in unit 4 at Chernobyl, which had a significant impact on life, health and the environment in Ukraine, Belarus and the Russian Federation and prompted concerns in other countries about the effects of radiation. Since the Chernobyl accident the Agency has assisted, and will continue to assist, Ukraine and the other affected countries, in overcoming the consequences of the accident and enhancing the safe and reliable operation of other nuclear power plants. In the case of Ukraine, the Director General said the Agency intends to assist in the development of an integrated approach to planning, management, and implementation of the decommissioning of units 1 to 3 of the Chernobyl plant as well as in the management of radioactive waste at the plant. More generally, the IAEA is helping Ukraine to strengthen the effectiveness of its nuclear regulatory regime. Since the accident at Chernobyl the IAEA has significantly expanded its nuclear safety programme. It has facilitated the negotiation of a convention on the safety of nuclear installations and other international agreements in the areas of notification and assistance in the case of nuclear accidents, liability and waste management. It has expanded the corpus of international safety standards and put into place an enhanced system of safety review missions to Member States. The

  15. Board of director characteristics and audit report lag: Australian evidence

    Harjinder Singh


    Full Text Available This study examines whether board of director’s independence, financial expertise, gender, corporate governance experience and diligence impact the audit report lag exhibited by Australian publicly listed firms. Using a pooled sample of 500 firm-year observations obtained from the Australian Securities Exchange for the period 2004 to 2008, this study finds evidence that board member independence, board member financial expertise and, to a lesser extent, board member corporate governance experience are the most significant predictors associated with shorter/reduced audit report lag. Main findings are robust to alternative measures of audit report lag, board characteristics and control variables. Findings from this study clearly imply that boards play a substantial role in reducing audit report lag. Results imply that legislative and regulatory requirements, both in Australian and overseas, stipulating board member independence and financial expertise requirements are effective in improving the integrity of financial reporting, a key component of which is timeliness of financial reporting (encapsulated by audit report lag. In addition, an additional board characteristic that regulators should consider promoting among firms is board member corporate governance experience. Results from this study, therefore, have clear implications not only for regulators but also for key stakeholders such shareholders and management.

  16. Postdoctoral periodontal program directors' perspectives of resident selection.

    Khan, Saba; Carmosino, Andrew J; Yuan, Judy Chia-Chun; Lucchiari, Newton; Kawar, Nadia; Sukotjo, Cortino


    Applications for postdoctoral periodontal programs have recently increased. The National Board Dental Examinations (NBDE) has adopted a pass/fail format. The purpose of this study is to examine the criteria used by accredited postdoctoral periodontal programs in the United States to evaluate potential applicants. A secondary purpose was to determine whether the absence of NBDE scores would change program directors' selection process. Basic demographic information of the program directors was also collected. A questionnaire was sent to all 54 program directors of accredited postdoctoral periodontal programs in the United States. The raw data were compiled, descriptive analyses were performed, and results were tabulated and ranked when applicable. Thirty-five of 54 program directors (64.8%) responded to the survey. The five most important factors in selecting residents were: 1) interview ratings; 2) dental school clinical grades; 3) dental school periodontics grades; 4) personal statement; and 5) letters of recommendation. The majority of the programs (94%; n = 33) require an interview, and many (86%; n = 30) have a committee that makes the final decision on candidate acceptance. More than half of the respondents (56%; n = 17) stated that the pass/fail format of the NBDE would affect the decision-making process. This study describes the criteria used by postdoctoral periodontal programs to help select applicants. Interview ratings, dental school grades, personal statements, and letters of recommendation were found to be the most important factors. Results from this study may be helpful for prospective postdoctoral periodontal program applicants in the United States.

  17. Directorate of Management - Special Staff - Joint Staff - Leadership - The

    NGB Official March Today in Guard History Leadership CNGB VCNGB SEA DANG DARNG Joint Staff J-1 J-2 J-3 J-4 J-5 J-6 J-7 J-8 Personal Staff Inspector General Judge Advocate General Officer Management Public Affairs Executive Support Services Legislative Liaison Special Staff Directorate of Management

  18. From medical doctor to medical director: leadership style matters.

    Williams, Geraint; Wood, Edward V; Ibram, Ferda


    Leadership is a skill to be developed by all doctors from the foundation trainee to the director of the board. This article explores the impact of leadership style on performance and considers techniques to develop doctors' leadership skills and personal effectiveness.

  19. 12 CFR 1710.11 - Board of directors.


    ... DEVELOPMENT SAFETY AND SOUNDNESS CORPORATE GOVERNANCE Corporate Practices and Procedures § 1710.11 Board of... once a calendar quarter to carry out its obligations and duties under applicable laws, rules... of board of directors; proxies not permissible. For the transaction of business, a quorum of the...

  20. Fermilab Friends for Science Education | Board of Directors

    Fermilab Friends for Science Education FFSE Home About Us Join Us Support Us Contact Us Board of Directors Board Tools Calendar Join Us Donate Now Get FermiGear! Education Office Search Programs Calendar , Chicago, IL Join Us/Renew Membership Forms: Online - Print Support Us Donation Forms: Online - Print Tree

  1. Early Childhood Directors as Socializers of Emotional Climate

    Zinsser, Katherine M.; Denham, Susanne A.; Curby, Timothy W.; Chazan-Cohen, Rachel


    Early childhood centres are vibrant social communities where child and adult emotions are integral to learning. Previous research has focused on teaching practices that support children's social-emotional learning; fewer studies have attended to relevant centre-level factors, such as the emotional leadership practices of the centre director. The…

  2. School Nutrition Directors' Perspectives on Flavored Milk in Schools

    Yon, Bethany A.; Johnson, Rachel K.; Berlin, Linda


    The offering of flavored milk in schools is a controversial topic. U.S. Department of Agriculture regulations now require that flavored milk in schools is fat-free. The perceptions, beliefs, and attitudes of 21 school nutrition directors (SNDs) about the offering and student acceptance of lower-calorie, flavored milk were explored using a focus…

  3. Rolf-Dieter Heuer, CERN’s next Director General


    Currently Research Director for particle and astroparticle physics at Germany’s DESY laboratory in Hamburg, Professor Heuer will serve a five-year term, taking office on 1 January 2009.The CERN Council has appointed Professor Rolf-Dieter Heuer to succeed Dr Robert Aymar as CERN’s Director-General. Professor Heuer will serve a five-year term, taking office on 1 January 2009. Currently Research Director for particle and astroparticle physics at Germany’s DESY laboratory in Hamburg, a post that he took up in 2004, Rolf-Dieter Heuer is no stranger to CERN. From 1984 to 1998, he was a staff member at the Laboratory, working for the OPAL collaboration at the Large Electron Positron collider. From 1994 to 1998, he was the collaboration’s spokesman. "This is a very exciting time for particle physics," said Heuer. "To become CERN’s Director-General for the early years of LHC operation is a great honour, a great challenge, and probably the best job in physics research tod...

  4. Job Satisfaction and Motivational Strategies among Library Directors.

    Pors, Niels Ole; Johannsen, Carl Gustav


    Discusses a survey of Danish library directors and highlights findings associated with job satisfaction and motivational strategies. Highlights include leadership; the relation between leadership position and job satisfaction; relationship between selected variables and job satisfaction; management tools used; and time spent on leadership tasks.…

  5. Financial performance and remuneration of executive directors of brazilian

    Larissa Degenhart


    Full Text Available This study aimed to examine whether there is a relationship between financial performance and the remuneration of executive directors of Brazilian companies. Thus, there was a descriptive, documentary and quantitative research. The review period was the years 2011 to 2015. The study population consisted of Brazilian companies listed on the BM&FBovespa and the sample consisted of companies that presented all the variables used in each year surveyed, totaling 219 companies. For the data analysis was conducted to Spearman correlation analysis and linear regression, and was performed using the SPSS statistical software. From the study results it was found that the variables: Total Asset Profitability (ROA and company size had a significant and positive relationship with the fixed remuneration, variable and total executive directors. These results showed for the analyzed scenario, the compensation of executive officers is higher when the ROA is high and also in relation to the company size, large companies pay their executives more than smaller companies. Finally, it can be concluded that there is a relationship between financial performance and Fixed Compensation, and Variable Total executive directors of Brazilian companies listed on the BM&FBovespa. In addition, this research contributes to the understanding of the amounts paid to executive officers, demonstrating that the performance of companies reflected in the remuneration of the executive directors, so that they act in the company in order to raise the economic and financial results.

  6. FAPE and LRE in Online Learning: Special Education Directors' Perspectives

    Greer, Diana; Harvey, Danna; Burdette, Paula; Basham, James


    While the provision of a "free appropriate public education" (FAPE) has contributed significantly to the educational experiences of students with disabilities, little is known about how services are actually provided in an online learning setting. Thus, telephone and face-to-face interviews were conducted with state directors of special…

  7. 12 CFR 1780.4 - Authority of the Director.


    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Authority of the Director. 1780.4 Section 1780.4 Banks and Banking OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT, DEPARTMENT OF HOUSING AND URBAN... the performance of, or waive performance of any act that could be done or ordered by the presiding...

  8. 77 FR 58416 - Regular Board of Directors Meeting; Sunshine Act


    ..., DC 20005. STATUS: Open. CONTACT PERSON FOR MORE INFORMATION: Erica Hall, Assistant Corporate... Annual Board of Directors Meeting Minutes IV. Approval of the Corporate Administration Committee Meeting Minutes V. Approval of the Finance, Budget & Program Committee Meeting Minutes VI. Approval of the Audit...

  9. 76 FR 74831 - Regular Board of Directors Meeting; Sunshine Act


    ..., DC 20005. STATUS: Open. CONTACT PERSON FOR MORE INFORMATION: Erica Hall, Assistant Corporate... the Regular Board of Directors Meeting Minutes IV. Approval of the Finance, Budget and Program Committee Meeting Minutes V. Approval of the Corporate Administrative Committee Meeting Minutes VI. Approval...

  10. News Focus: NSF Director Erich Bloch Discusses Foundation's Problems, Outlook.

    Chemical and Engineering News, 1987


    Relates the comments offered in an interview with Erich Bloch, the National Science Foundation (NSF) Director. Discusses issues related to NSF and its funding, engineering research centers, involvement with industry, concern for science education, computer centers, and its affiliation with the social sciences. (ML)

  11. Prime Time Power: Women Producers, Writers and Directors on TV.

    Steenland, Sally

    This report analyzes the number of women working in the following six decision making jobs in prime time television: (1) executive producer; (2) supervising producer; (3) producer; (4) co-producer; (5) writer; and (6) director. The women who hold these positions are able to influence the portrayal of women on television as well as to improve the…

  12. 76 FR 58049 - Special Board of Directors Meeting: Sunshine Act


    ... NEIGHBORHOOD REINVESTMENT CORPORATION Special Board of Directors Meeting: Sunshine Act TIME AND DATE: 2 p.m., Thursday, July 21, 2011. PLACE: 1325 G Street, NW., Suite 800, Boardroom, Washington, DC..., (202) 220-2376; [email protected] . AGENDA: I. Call to Order II. Theory of Change III. Strategic Plan, July...

  13. The Therapist as Director of the Family Drama.

    Andolfi, Maurizio; Angelo, Claudio


    Compares the therapist's function to that of a theatrical director who revises a play, the family drama, which the actors continue to recite according to an old script with a foregone conclusion. To achieve his goal, the therapist uses certain contextual elements to construct an alternative 'reading' of events. (Author)

  14. 20 CFR 702.272 - Informal recommendation by district director.


    ... LONGSHOREMEN'S AND HARBOR WORKERS' COMPENSATION ACT AND RELATED STATUTES ADMINISTRATION AND PROCEDURE Claims... any wage loss suffered as the result of the discharge or discrimination. The district director may... of the Chief Administrative Law Judge for hearing pursuant to § 702.317. [42 FR 45302, Sept. 9, 1977] ...

  15. Important characteristics of a director of medical education.

    Powell, V D; George, R J


    In osteopathic graduate medical education programs, the Director of Medical Education (DME) plays the key leadership role. This article outlines critical characteristics and skills that the DME should possess to successfully perform in this role. Central to this success is a passionate commitment to osteopathic medical education and a commitment to justice and fairness.

  16. Journeys to the Self: Using Movie Directors in the Classroom

    Alvarez, Jose Luis; Miller, Paddy; Levy, Jan; Svejenova, Silviya


    This article suggests that temporary (project based) filmmaking organizations, and film directors as their leaders, lend themselves to examining a plethora of leadership issues, from social sources of power to competencies in network organizations. It advances for classroom discussion and teaching the cases of Almodovar and Coppola as examples of…

  17. Quality Improvement in Otolaryngology Residency: Survey of Program Directors.

    Bowe, Sarah N


    The Clinical Learning Environment Review focuses on the responsibility of the sponsoring institution for quality and patient safety. Very little information is known regarding the status of quality improvement (QI) education during otolaryngology training. The purpose of this survey is to evaluate the extent of resident and faculty participation in QI and identify opportunities for both resident curriculum and faculty development. Cross-sectional survey A 15-item survey was distributed to all 106 otolaryngology program directors. The survey was developed after an informal review of the literature regarding education in QI and patient safety. Questions were directed at the format and content of the QI curriculum, as well as barriers to implementation. There was a 39% response rate. Ninety percent of responding program directors considered education in QI important or very important to a resident's future success. Only 23% of responding programs contained an educational curriculum in QI, and only 33% monitored residents' individual outcome measures. Barriers to implementation of a QI program included inadequate number of faculty with expertise in QI (75%) and competing resident educational demands (90%). Every program director considered morbidity and mortality conferences as an integral component in QI education. Program directors recognize the importance of QI in otolaryngology practice. Unfortunately, this survey identifies a distinct lack of resources in support of these educational goals. The results highlight the need to generate a comprehensive and stepwise approach to QI for faculty development and resident instruction. © American Academy of Otolaryngology—Head and Neck Surgery Foundation 2015.

  18. An Afterschool Director's Educational Leadership Strategies: A Case Study

    Marino, Tammy


    Afterschool programs linked to schools provide opportunities to keep children safe and engage them in enrichment activities that can support their growth and development. Often, these programs are led by afterschool directors with a background in youth development and no experience or education in leading in educational environments. These…

  19. 16 CFR 1000.30 - Directorate for Laboratory Sciences.


    ... for compliance with the Consumer Product Safety Act, the Federal Hazardous Substances Act, the Flammable Fabrics Act, and the Poison Prevention Packaging Act. The Directorate is composed of the Mechanical Engineering Division, the Electrical Engineering Division (which includes flammable fabrics), and...

  20. Leading or Managing? Assistant Regional Directors, School Performance, in Queensland

    Bloxham, Ray; Ehrich, Lisa C.; Iyer, Radha


    Purpose: Education reform aimed at achieving improved student learning is a demanding challenge for leaders and managers at all levels of education across the globe. In 2010, the position of Assistant Regional Directors, School Performance (ARD-SP), was established to positively impact upon student learning across public schools in Queensland,…

  1. The Special Education Director's Role in Inservice Training Programs

    Donatell, Henry


    Reviewed in the article on the special education director's role in inservice training programs are planning procedures (including evaluation of the present program by all staff), types of programs offered (such as summer curriculum writing and teacher orientation week), and evaluation methods. (CL)

  2. SME Non-Executive Directors: Having One and Being One

    Gordon, Ian


    The objective of the study reported here was to ascertain the impact on small and medium-sized enterprise (SME) owner-managers of simulating having and being a non-executive director (NED) within the GOLD programme at Lancaster University, the purpose of which is to help owner-managers of SMEs to become better strategic leaders of their companies.…

  3. Learning to Manage: A Program Just for Directors.

    Thomas, Megan E.


    Describes the Head Start-Johnson & Johnson Management Fellows program, whose mission is strengthening management skills of Head Start directors by providing training in human resources management, organizational design and development, financial management, computers and information systems, operations, marketing, and development of strategic…

  4. Dr. Praveen Chaudhari named director of Brookhaven National Laboratory


    "Brookhaven Science Associates announced today the selection of Dr. Praveen Chaudhari as Director of the U.S. Department of Energy's Brookhaven National Laboratory. Dr. Chaudhari, who will begin his new duties on April 1, joins Brookhaven Lab after 36 years of distinguished service at IBM as a scientist and senior manager of research" (1 page).

  5. 77 FR 15142 - Regular Board of Directors Meeting; Sunshine Act


    ... 20005. STATUS: Open. CONTACT PERSON: Erica Hall, Assistant Corporate Secretary, (202) 220- 2376; ehall... Directors Meeting Minutes IV. Approval of the Audit Committee Meeting Minutes V. Approval of the Finance, Budget and Program Committee Meeting Minutes VI. Approval of the Corporate Administration Committee...

  6. 77 FR 76078 - Regular Board of Directors Sunshine Act Meeting


    ..., DC 20005. STATUS: Open. CONTACT PERSON FOR MORE INFORMATION: Erica Hall, Assistant Corporate... Regular Board of Directors Meeting Minutes IV. Approval of the Finance, Budget & Program Committee Meeting... Corporate Secretary. [FR Doc. 2012-31163 Filed 12-21-12; 4:15 pm] BILLING CODE 7570-02-P ...

  7. Quality in-training initiative--a solution to the need for education in quality improvement: results from a survey of program directors.

    Kelz, Rachel R; Sellers, Morgan M; Reinke, Caroline E; Medbery, Rachel L; Morris, Jon; Ko, Clifford


    The Next Accreditation System and the Clinical Learning Environment Review Program will emphasize practice-based learning and improvement and systems-based practice. We present the results of a survey of general surgery program directors to characterize the current state of quality improvement in graduate surgical education and introduce the Quality In-Training Initiative (QITI). In 2012, a 20-item survey was distributed to 118 surgical residency program directors from ACS NSQIP-affiliated hospitals. The survey content was developed in collaboration with the QITI to identify program director opinions regarding education in practice-based learning and improvement and systems-based practice, to investigate the status of quality improvement education in their respective programs, and to quantify the extent of resident participation in quality improvement. There was a 57% response rate. Eighty-five percent of program directors (n = 57) reported that education in quality improvement is essential to future professional work in the field of surgery. Only 28% (n = 18) of programs reported that at least 50% of their residents track and analyze their patient outcomes, compare them with norms/benchmarks/published standards, and identify opportunities to make practice improvements. Program directors recognize the importance of quality improvement efforts in surgical practice. Subpar participation in basic practice-based learning and improvement activities at the resident level reflects the need for support of these educational goals. The QITI will facilitate programmatic compliance with goals for quality improvement education. Copyright © 2013 American College of Surgeons. All rights reserved.

  8. Program Director Survey: Attitudes Regarding Child Neurology Training and Testing.

    Valencia, Ignacio; Feist, Terri B; Gilbert, Donald L


    As a result of major clinical and scientific advances and changes in clinical practice, the role of adult neurology training for Child Neurology and Neurodevelopmental Disability (NDD) certification has become controversial. The most recently approved requirements for board eligibility for child neurology and neurodevelopmental disability residents still include 12 months in adult neurology rotations. The objective of this study was to assess United States child neurology and neurodevelopmental disability residency program directors' opinions regarding optimal residency training. The authors developed an 18-item questionnaire and contacted all 80 child neurology and neurodevelopmental disability program directors via e-mail, using SurveyMonkey. A total of 44 program directors responded (55%), representing programs that train 78 categorical and 94 total resident positions, approximately 70% of those filled in the match. Respondents identified multiple areas where child neurology residents need more training, including genetics and neuromuscular disease. A substantial majority (73%) believed child neurology and neurodevelopmental disability residents need less than 12 adult neurology training months; however, most (75%) also believed adult hospital service and man-power needs (55%) and finances (34%) would pose barriers to reducing adult neurology. Most (70%) believed reductions in adult neurology training should be program flexible. A majority believed the written initial certification examination should be modified with more child neurology and fewer basic neuroscience questions. Nearly all (91%) felt the views of child neurology and neurodevelopmental disability program directors are under-represented within the Accreditation Council for Graduate Medical Education Residency Review Committee. The requirement for 12 adult neurology months for Child Neurology and Neurodevelopmental Disability certification is not consistent with the views of the majority of program

  9. Facilitation of learning: part 1.

    Warburton, Tyler; Trish, Houghton; Barry, Debbie


    This article, the fourth in a series of 11, discusses the context for the facilitation of learning. It outlines the main principles and theories for understanding the process of learning, including examples which link these concepts to practice. The practical aspects of using these theories in a practice setting will be discussed in the fifth article of this series. Together, these two articles will provide mentors and practice teachers with knowledge of the learning process, which will enable them to meet the second domain of the Nursing and Midwifery Council's Standards to Support Learning and Assessment in Practice on facilitation of learning.

  10. Emotional inteligence model for directors of research centers in Mexico

    Mara Maricela Trujillo Flores


    Full Text Available El objetivo de este trabajo es mostrar resultados del modelo IE-Martruj, concebido para la medición de la inteligencia emocional de directores de centros de investigación; fue aplicado a cuarenta y tres directores de centros de investigación en México. El proceso de validación y confiabilidad del modelo es descrito en detalle, así como su formulación matemática. Como resultado de esta investigación, se muestra como conclusión general que: El modelo estudiado es un instrumento apropiado para la tarea propuesta, y que la Inteligencia Emocional (IE de los directores de centros de investigación en México está asociada positivamente con la motivación, la capacidad de autoevaluación, la autorregulación, la empatía y las habilidades sociales. Así mismo, se sometieron a prueba, con resultados positivos, las siguientes hipótesis: H1 - La motivación, iniciativa, optimismo e involucramiento son condiciones que se hallan correlacionadas positivamente con la efectividad del funcionamiento de los directores de centros de investigación. H2 - El autoconocimiento, la conciencia emocional, la auto evaluación precisa y la autoconciencia están positivamente correlacionados entre ellas y son parte esencial de la inteligencia intrapersonal. H3 - La autorregulación exhibida por los directores, su autocontrol, adaptabilidad y autoconciencia están positivamente correlacionados entre sí y también son parte de la inteligencia intrapersonal. H4 - La empatía, la comprensión de los demás, el desarrollo de las competencias de los subordinados, la inclinación al servicio, el manejo de la diversidad y la congruencia política están positivamente correlacionados entre sí y son parte de la inteligencia interpersonal. H5 - Las habilidades sociales de los directores, que también integran la inteligencia interpersonal, les permiten tener mayor influencia sobre el equipo de trabajo,expresada en mayor comunicación, mejor manejo de situaciones

  11. Key considerations for the success of Medical Education Research and Innovation units in Canada: unit director perceptions.

    Varpio, Lara; Bidlake, Erin; Humphrey-Murto, Sue; Sutherland, Stephanie; Hamstra, Stanley J


    Growth in the field of medical education is evidenced by the proliferation of units dedicated to advancing Medical Education Research and Innovation (MERI). While a review of the literature discovered narrative accounts of MERI unit development, we found no systematic examinations of the dimensions of and structures that facilitate the success of these units. We conducted qualitative interviews with the directors of 12 MERI units across Canada. Data were analyzed using qualitative description (Sandelowski in Res Nurs Health 23:334-340, 2000). Final analysis drew on Bourdieu's (Outline of a theory of practice. Cambridge University Press, Cambridge, 1977; Media, culture and society: a critical reader. Sage, London, 1986; Language and symbolic power. Harvard University Press, Cambridge, 1991) concepts of field, habitus, and capital, and more recent research investigating the field of MERI (Albert in Acad Med 79:948-954, 2004; Albert et al. in Adv Health Sci Educ 12:103-115, 2007). When asked about the metrics by which they define their success, directors cited: teaching, faculty mentoring, building collaborations, delivering conference presentations, winning grant funding, and disseminating publications. Analyzed using Bourdieu's concepts, these metrics are discussed as forms of capital that have been legitimized in the MERI field. All directors, with the exception of one, described success as being comprised of elements (capital) at both ends of the service-research spectrum (i.e., Albert's PP-PU structure). Our analysis highlights the forms of habitus (i.e., behaviors, attitudes, demeanors) directors use to negotiate, strategize and position the unit within their local context. These findings may assist institutions in developing a new-or reorganizing an existing-MERI unit. We posit that a better understanding of these complex social structures can help units become savvy participants in the MERI field. With such insight, units can improve their academic output and

  12. Facilitation of Mourning During Childhood.

    Kliman, Gilbert; And Others

    This paper discusses case studies of children psychologically disturbed by the death of parents or siblings. Illustrations of mourning facilitation were mainly gathered from 16 orphaned children, ages 3-14. Some techniques used in helping children mourn include: discussing physical details of the illness, discussing previous deaths of animals and…

  13. Brug af mindfulness til facilitering

    Adriansen, Hanne Kirstine; Krohn, Simon


    Gennem de senere år er mindfulness gået fra udelukkende at være en eksistentiel praksis til også at være en behandlingsform og senest til også at blive brugt som et praktisk redskab i erhvervslivet. Denne artikel viser, at mindfulness også kan anvendes i forbindelse med facilitering. Facilitering...... er et værktøj, som bruges i arbejdslivet fx til møder og konferencer, hvor en gruppe mennesker er samlet for at lære eller udrette noget sammen. Det nye ved at kombinere mindfulness med facilitering er, at fokus hermed ændres fra individet, som er centrum for den eksistentielle fordybelse eller det...... terapeutiske forløb, til gruppen, som er udgangspunktet i facilitering. Artiklen viser, hvordan mindfulness konkret kan bruges på gruppeniveau og diskuterer samtidig hvilke problemer, der kan være forbundet hermed. Baseret på vores egne erfaringer, diskuterer vi, hvordan mindfulness kan påvirke en gruppes...

  14. Facilitating Conversations about Managerial Identities

    Madsen, Mona Toft

    -based organization in the engineering consulting sector b) a reflection meeting, where the same three managers were gathered, and conversations were facilitated based on identity work in the context of earlier interviews. More specifically, three themes were discussed; flat organizational structure, tensions between...

  15. Complexities of Social Capital in Boards of Directors

    Sulinska, Iwona Magdalena

    and firm performance. Chapter 3 explores social capital of board chair, which has been overlooked in previous studies. It suggests that individual social capital of board chair is as important for organizational performance as social capital of CEO and directors. Therefore, performance effect derives from...... and external networks of social relationships created by board members. Evolution paths are consequently proposed for diversity and strength of external network ties, and for internal network cohesion. In light of the overarching research question, the final chapter summarizes the findings.......The aim of the dissertation is to disentangle complexities of social capital in boards of directors through proposing new theoretical perspectives and methodological approaches. Although extant previous research has discussed various aspects of social capital and its association with numerous...

  16. Boards of Directors' and Management's Liability in Law in Denmark

    Werlauff, Erik


    The article demonstrates that written standards for the basis of liability are playing an ever greater role relative to unwritten standards under tort law. It is noted that following the bank failures in the wake of the financial crisis in 2008, a significant number of cases are proceeding...... in Denmark in which liability for exorbitant sums is being imputed to members of the boeard of directors and management and external and internal accountants. The new Danish companies act in force from 1 March 2010 made no apparent change to the standards concerning liability. Nonetheless, the companies act...... emphasizes in various places that this or that is "the responsibility of the board of directors or management", and by emphasizing such legally defined focal points, the companies act is thus nevertheless instrumental in clarifying - and in the longer term perhaps to some degree increasing the stringency...

  17. The Staff Association (SA) in the Enlarged Directorate (ED) meeting!

    Staff Association


    The Vice-President and the President presented the plan of activities of the Staff Association for 2017 and expressed the Staff Association’s concerns at the meeting of the Enlarged Directorate (Directors and Heads of Departments and Units) on 3 April. Five topics were presented, starting with the implementation of the decisions made during the 2015 Five-Yearly Review. Five-Yearly Review – Follow-up (see Echo No. 257) 2016 – Key points of implementation Several changes were already implemented in 2016: review of the Staff Rules and Regulations in January 2016 for the diversity aspects, and in September 2016 to incorporate the new career structure and the new salary grid with grades; review of the Administrative Circular No. 26 (Rev. 11) on the “Recognition of Merit”; placement in grades and provisional placement in benchmark jobs of all staff members; definition of guidelines for the 2017 MERIT exercise. The Staff Association was extensively involved in the...

  18. Defining the management role of the department medical director.

    Brady, T F; Carpenter, C R


    Through analysis of medical and administrative director positions it is possible to identify an organizational structure for medical departments that enhances departmental operations. Possible roles and tasks that describe managerial responsibilities are considered, and a review of the literature identifies options for how these roles or tasks can be shared between medical and nonmedical managers at the departmental level. These options are refined based on interviews with department-level managers at a case study hospital. Three models are then explored: unity of command, shared accountability, and split accountability. The unity of command model is recommended. In this model, the medical director assumes total authority and accountability for departmental operations through some sort of "enfranchisement." A more formal planning process and a review of job descriptions are also recommended.

  19. The JSC Engineering Directorate Product Peer Review Process

    Jenks, Kenneth C.


    The JSC Engineering Directorate has developed a Product Peer Review process in support of NASA policies for project management and systems engineering. The process complies with the requirements of NPR 7120.5, NPR 7123.1 and NPR 7150.2 and follows the guidance in NASA/SP-2007-6105. This presentation will give an overview of the process followed by a brief demonstration of an actual peer review, with audience participation.

  20. Professor V. Weisskopf, CERN Director General (1961-1965)


    Well known theoretical physicist Victor Weisskopf has died aged 93. Born in Austria, he later worked with Schrodinger in Berlin before emigrating to the US in 1937, where he joined the Manhattan project in 1944, and was witness to the Trinity Test in July 1945. In 1946 he became professor of physics at MIT. He took leave of absence to be Director General of CERN, the European Organization for Nuclear Physics, from 1961-1965.

  1. Director murrab pead : Meeskond versus staar / Ergo Metsla

    Metsla, Ergo


    Küsimusele, kuidas säilitada hästi töötav meeskond ja ka võimekas müügimees, otsivad lahendusi CV-Onlineþi turundusjuht Helen Hinno, Invicta tegevjuht Peeter Puskai, OÜ Sirje Tammiste Konsultatsioonibüroo koolitaja Sirje Tammiste, AS-i NT Marine müügi- ja teenindusjuht Jaan Lember. Vt. ka vastukaja Director nr. 2 lk. 42

  2. Gail Harlamoff: Executive Director, Life Lab Science Program

    Rabkin, Sarah


    Gail Harlamoff is Executive Director of the Life Lab Science Program, a nationally recognized, award-winning nonprofit science and environmental organization located on the UC Santa Cruz campus. Founded in 1979, Life Lab helps schools develop gardens and implement curricula to enhance students’ learning about science, math, and the natural world. The program has trained tens of thousands of educators in more than 1400 schools across the country. Life Lab’s specialized initiatives inc...

  3. The Director's Lens: An Intelligent Assistant for Virtual Cinematography

    Lino , Christophe; Christie , Marc; Ranon , Roberto; Bares , William


    International audience; We present the Director's Lens, an intelligent interactive assistant for crafting virtual cinematography using a motion-tracked hand-held device that can be aimed like a real camera. The system employs an intelligent cinematography engine that can compute, at the request of the fi lmmaker, a set of suitable camera placements for starting a shot. These suggestions represent semantically and cinematically distinct choices for visualizing the current narrative. In computi...

  4. Host government directorate: London 2012 Olympic and Paralympic emblem guidelines


    These guidelines issued by the London Organising Committee of the Olympic Games and Paralympic Games Ltd (“LOCOG”) provide standards, requirements and guidelines for use of the London 2012 Olympic Games Emblem (the “Emblem”), the London 2012 Paralympic Games Emblem (the “Paralympic Emblem”) and the Dual London 2012 Olympic and Paralympic Emblems (“Dual Emblems”) by authorised Host Government Directorate only.

  5. Emergent scar lines in chaotic advection of passive directors

    Hejazi, Bardia; Mehlig, Bernhard; Voth, Greg A.


    We examine the spatial field of orientations of slender fibers that are advected by a two-dimensional fluid flow. The orientation field of these passive directors are important in a wide range of industrial and geophysical flows. We introduce emergent scar lines as the dominant coherent structures in the orientation field of passive directors in chaotic flows. Previous work has identified the existence of scar lines where the orientation rotates by π over short distances, but the lines that were identified disappeared as time progressed. As a result, earlier work focused on topological singularities in the orientation field, which we find to play a negligible role at long times. We use the standard map as a simple time-periodic two-dimensional flow that produces Lagrangian chaos. This class of flows produces persistent patterns in passive scalar advection and we find that a different kind of persistent pattern develops in the passive director orientation field. We identify the mechanism by which emergent scar lines grow to dominate these patterns at long times in complex flows. Emergent scar lines form where the recent stretching of the fluid element is perpendicular to earlier stretching. Thus these scar lines can be labeled by their age, defined as the time since their stretching reached a maximum.

  6. STS-61 mission director's post-mission report

    Newman, Ronald L.


    To ensure the success of the complex Hubble Space Telescope servicing mission, STS-61, NASA established a number of independent review groups to assess management, design, planning, and preparation for the mission. One of the resulting recommendations for mission success was that an overall Mission Director be appointed to coordinate management activities of the Space Shuttle and Hubble programs and to consolidate results of the team reviews and expedite responses to recommendations. This report presents pre-mission events important to the experience base of mission management, with related Mission Director's recommendations following the event(s) to which they apply. All Mission Director's recommendations are presented collectively in an appendix. Other appendixes contain recommendations from the various review groups, including Payload Officers, the JSC Extravehicular Activity (EVA) Section, JSC EVA Management Office, JSC Crew and Thermal Systems Division, and the STS-61 crew itself. This report also lists mission events in chronological order and includes as an appendix a post-mission summary by the lead Payload Deployment and Retrieval System Officer. Recommendations range from those pertaining to specific component use or operating techniques to those for improved management, review, planning, and safety procedures.

  7. Interlocking Corporate Directorates and the Global City Hierarchy

    Jeffrey Kentor


    Full Text Available This paper examines the direct and indirect economic linkages of the most prominent cities in the world, those commonly referred to as “global cities”, in terms of the direct and indirect linkages of the boards of directors of Fortune Global 500 firms headquartered in a given city with boards of directors of other firms. Specifically, we identify the interlocks of corporate boards located within these major cities with other Fortune 500 boards of directors by degrees of separation, and present a new ranking for selected global cities based upon these direct and indirect ties. We find that New York clearly dominates these economic linkages, followed by London and Paris. This is most pronounced for financial companies. Contrary to other global city rankings, we locate Tokyo below Frankfurt and Chicago on this dimension. We argue that these multiple levels of indirect relationships reflect a significant, and until now unexplored, dimension of what it means to be a “global” city.

  8. The Process of Creation of Value Shareholder compared in each Level Segmented on the Bovespa Corporate Governance: A Study with the Companies comprising the Index Stock Portfolio Brazil (Ibrx 100

    Wagner Moura Lamounier


    Full Text Available The objective of this article was of to measure and to analyze the creation of value for the shareholder through comparisons among each level of corporate governance segmented in BOVESPA, accomplishing an empiric study with interest of proving the existence of different averages regarding the one of creation of value in the different segments. The research was guided through a descriptive analysis which makes possible to establish relationships among the analyzed variables and to lift hypotheses or possibilities to explain those relationships. The found results didn't demonstrate statistical evidences that the level of corporate governance, in that certain company is inserted at the market, brings differentiation in the process of creation of value for the shareholders. The found conclusions thwarted the null hypothesis of this study, which mentioned that in agreement with the level of classification of the companies there would be a differentiation in the creation of value for the shareholder. It is pointed out that that conclusion not to be generalized by the fact that the sample used to obtain her, in spite of being representative, it was obtained in a limited temporary space, existing the possibility that increasing the space of time here the conclusions presented they can suffer alterations. For future researches it is suggested that this study is accomplished with a larger sample of companies, and with given quarterly with the intention of explaining the studied variables better.

  9. Research on Calculating of Shareholder Assets in the Joint Account in the Global Market%全球市场联名账户股东资产计算的研究

    鲁大林; 吴斌


    Given the specialty of the global security account products and trading rules, and based on a research on the principles of the calculation of shareholder assets in the joint account in the global market, the presentation of common asset account data and the calculation of shareholder assets, the program is written calculate shareholders assets in Joint account in the global market with C# and SQL SERVER. The principles and methods concerned and analyzed in this paper can be used as a reference point by the global financial and investment institutions such as QFII, QDII.%通过综合考虑全球证券账户产品特点和交易规则,对全球市场联名账户股东资产计算的原理、共同资产账户数据的表示以及股东资产的计算进行了研究,并使用C^#、SQLServer编写了能完成全球市场联名账户股东资产的计算程序.所论述的计算原理和算法可以供QFII、QDII等投资全球的金融机构计算客户资产参考.

  10. Craig Reynolds, Ph.D., to Retire as NCI Associate Director for Frederick | Poster

    On December 2, Craig Reynolds, Ph.D., director, Office of Scientific Operations, and NCI associate director for Frederick, will put the finishing touches on a 37-year career with the National Cancer Institute.

  11. Power in the role of the medical director: what it is and how to get more.

    Gabel, Stewart


    The formal leadership of mental health care organizations commonly resides in an executive director, who may or may not have had clinical training. The medical director is a psychiatrist who reports to the executive director. For some, this arrangement suggests that the medical director lacks or has lost power in the organization. This paper examines more specifically the types of power available to the medical director using French & Raven (1959) and Raven (2008) bases of power framework. The executive director/medical director relationship can be thought of as a relationship between individuals holding formal and informal power, respectively. Although medical directors lack formal or positional power, they potentially have and can gain more informal power based on their recognized clinical/medical expertise, their personal presence and an assertive involvement and focus on the organizational mission.

  12. 76 FR 5186 - National Protection and Programs Directorate; Agency Information Collection Activities; Office of...


    ... DEPARTMENT OF HOMELAND SECURITY [Docket No. DHS-2010-0084] National Protection and Programs... Protection Stakeholder Input Project--Generic Clearance AGENCY: National Protection and Programs Directorate.... SUMMARY: The Department of Homeland Security (DHS), National Protection and Programs Directorate (NPPD...

  13. Governance characteristics and the market reaction to the SEC’s proxy access rule

    Akyol, A.; Lim, B.; Verwijmeren, P.


    We examine the wealth effects of the Security and Exchange Commission's (SEC) recent proxy access rule to facilitate director nominations by shareholders. We focus on how a firm's governance characteristics affect the market reaction to the rule. We find more negative announcement effects for firms

  14. 36 CFR 51.11 - May the Director amend, extend, or cancel a prospectus or solicitation?


    ..., extend, or cancel a prospectus or solicitation? 51.11 Section 51.11 Parks, Forests, and Public Property... Procedures § 51.11 May the Director amend, extend, or cancel a prospectus or solicitation? The Director may... cancel a solicitation at any time prior to award of the concession contract if the Director determines in...

  15. Does skin in the game matter?: director incentives and governance in the mutual fund industry

    Cremers, M.; Driessen, J.; Maenhout, P.; Weinbaum, D.


    We use a unique database on ownership stakes of equity mutual fund directors to analyze whether the directors' incentive structure is related to fund performance. Ownership of both independent and nonindependent directors plays an economically and statistically significant role. Funds in which

  16. Program directors in their role as leaders of teaching teams in residency training

    Slootweg, Irene A.; van der Vleuten, Cees; Heineman, Maas Jan; Scherpbier, Albert; Lombarts, Kiki M. J. M. H.


    Program directors have a formal leading position within a teaching team. It is not clear how program directors fulfill their leadership role in practice. In this interview study we aim to explore the role of the program director as strategic leader, based on the research-question: What are the

  17. Program directors in their role as leaders of teaching teams in residency training

    Slootweg, I.A.; Vleuten, C.P.M. van der; Heineman, M.J.; Scherpbier, A.; Lombarts, K.M.


    BACKGROUND: Program directors have a formal leading position within a teaching team. It is not clear how program directors fulfill their leadership role in practice. In this interview study we aim to explore the role of the program director as strategic leader, based on the research-question: What

  18. Child Welfare Training in Child Psychiatry Residency: A Program Director Survey

    Lee, Terry G.; Cox, Julia R.; Walker, Sarah C.


    Objective: This study surveys child psychiatry residency program directors in order to 1) characterize child welfare training experiences for child psychiatry residents; 2) evaluate factors associated with the likelihood of program directors' endorsing the adequacy of their child welfare training; and 3) assess program directors'…

  19. 25 CFR 39.409 - How does the OIEP Director ensure accountability?


    ... 25 Indians 1 2010-04-01 2010-04-01 false How does the OIEP Director ensure accountability? 39.409... EQUALIZATION PROGRAM Accountability § 39.409 How does the OIEP Director ensure accountability? (a) The Director of OIEP must ensure accountability in student counts and student transportation by doing all of the...

  20. What's Ethical and What's Not in Electronic Journalism: Perceptions of News Directors. Radio-Television Journalism.

    Wulfemeyer, K. Tim

    A study examined the perceptions about what is and is not ethical behavior in electronic journalism. Subjects, 220 television news directors and 66 radio news directors, responded to a 117-item survey of ethics in electronic journalism. Results indicated that the news directors identified: (1) 10 "acceptable" behaviors, including working…