40 research outputs found
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Beyond shareholder value ::a framework for stakeholder governance /
No full text"This timely and engaging book examines how maximising shareholder value has played a dominant role in corporate governance over recent decades, and analyses the resulting effect on share prices in the stock markets. Alongside the rise in corporate power and deepening economic inequality, the author investigates corporate law reform as a corrective remedy. Beyond Shareholder Value offers an astute analysis of key topics such as corporate incentive structures that reward executives for delivering shareholder value and permissive rules that enable companies to issue shares at will at rising valuations. P.M. Vasudev explores the laws intended to protect stakeholders and deftly unpacks the shortcomings in employment-related laws and antitrust enforcement. Demonstrating how alternative dispute resolution can be used to promote stakeholder governance, the book explains how the overly broad business judgment rule impedes effective adjudication of complex stakeholder disputes. This insightful book offers a new perspective on stakeholder governance, and will prove indispensable reading for academics and legal researchers working in the field of corporate law and governance. Its innovative approach will also benefit practitioners and policy makers alike"-
Kleptocracy in Nigeria
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Purpose
The purpose of this study is to sonographically explore kleptocracy in Nigeria’s nascent democracy and evaluate how democracy can mitigate kleptocratic behavior amongst Nigerian political elite for a positive social change using sonic therapeutic intervention lens.
Design/methodology/approach
The author inductively generated data through document analysis in this qualitative study.
Findings
The results of the study showed that kleptocracy has been an age-long politico-financial crime in Nigeria. The author proffered sonic therapeutic intervention to simultaneously enhance democratic values and mitigate kleptocracy among the Nigerian leaders.
Research limitations/implications
The limitations of the study stemmed from the fact that it cannot be generalized.
Practical implications
The practical implications of the study stemmed from the fact that any leader can take advantage of the research findings and apply the recommendations to themselves for personal transformation without incurring any costs.
Social implications
The social implication of the study is rooted in the fact that if the Nigerian leadership implement the recommendation(s) of the study, there will be a positive social change in the country inasmuch as financial crime will be mitigated.
Originality/value
The originality of the study stemmed from the fact that this inquiry filled the gap in financial crime literature and there was no such study ever conducted in the discipline.
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Book Review: Pro Wrestling: A Comprehensive Reference Guide
No full textProfessional wrestling is one of the most popular forms of entertainment in the world, delivering spectacles that are equal parts athletic competition and theatrical performance. As pro wrestlers have grown in stature from local heroes to worldwide superstars, so too has the wrestling industry grown from traveling road shows to globally televised productions. Despite the massive success of pro wrestling, a literature search reveals a dearth of reference guides and scholarly analysis on the subject. In Pro Wrestling: A Comprehensive Reference Guide, author Lew Freedman provides a much-needed guide for newcomers to this unique hybrid of sport and performing art
Sadhguru: we must move fast to save our soil from dying
No full textThe planet has enough soil for only another 80 to 100 crops, which will last 60 years at the most. Sadhguru, author and founder of the Isha Foundation, says that because we are removing organic content from the soil, 40% of the world’s topsoil is gone. He says we still have 15 to 25 years to turn things around, otherwise we will soon be living in the desert. Sadhguru took part in a brief Q&A with LSE Business Review’s managing editor, Helena Vieira, during the World Economic Forum’s Great Narrative Meeting in Dubai
Legislative kleptocracy in Nigeria: systems approach
No full textPurpose
The purpose of this study is to explore legislative kleptocracy, specifically, budget padding, in Nigeria’s budding democracy, using systems thinking approach for a positive social change. Nigeria’s legislature is not free from the problem of kleptocracy inasmuch as some legislators have been charged with kleptocratic activities. The multifariousness of kleptocracy rooted in its differential coefficient in the Nigeria’s legislature does not underplay its sophistication.
Design/methodology/approach
In this qualitative analysis, the author generated data through a systematic analysis of documents.
Findings
The findings show that unexplored organismic factors or forces within the living being such as the inability of legislators to control their mind, low self-control, cheating propensity, identity crisis, etc., play vital roles in contributing to legislative kleptocracy.
Research limitations/implications
The main limitation of the study is that it is not generalizable.
Practical implications
The practical implication of the study is that implementation of the study recommendations is pragmatic, cost-effective and time-effective, and it would ensure legislative transformation and mitigate kleptocracy.
Social implications
The social implication of the study is if the Nigerian legislature implements the recommendation(s) of the study, there will be a legislative positive social change because financial crimes would have been mitigated.
Originality/value
This study filled the lacuna in the financial crime literature because it is the first of its kind in the discipline, and hence its originality cannot be disputed.
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Law, Economics, and Beyond: A Case for Retheorizing the Business Corporation
No full textThis essay presents a critical analysis of the economic theory of corporations and its idioms, such as “nexus of contracts”, “agency costs”, and “shareholder value”. It calls for the development of a richer and more inclusive theory of business corporations that draws on the experience of the last three decades and better addresses the needs of the post-Enron, post-AIG world.The author identifies the following shortcomings of the economic theory of corporations. First, the contractarian interpretation overlooks the role of law and public policy in corporations. Second, using share prices as the yardstick of corporate performance and encouraging practices such as the buyback of shares have serious implications for the competitiveness and sustainability of corporations. Third, there is inadequate attention to the characteristic and normative distinctions between debt and equity. And fourth, hostile takeovers are treated as virtually the only solution to entrenched managements. The problem of managerial power must be reviewed in the light of evidence regarding managerial power and the efficacy of boards. Equally, there is a case for developing a more deliberated, fair, and equitable policy on executive pay.À travers une analyse critique de la théorie économique des entreprises et de ses idiomes, cet essai appelle au développement d’une théorie plus riche et plus inclusive qui profite de l’expérience des trois dernières décennies et qui répond mieux aux besoins d’un monde post-Enron et post-AIG.L’auteur identifie plusieurs défauts de la théorie économique des entreprises. Premièrement, l’interprétation contractualiste néglige le rôle du droit et de la politique publique dans les entreprises. Deuxièmement, l’utilisation du prix des actions comme mesure de performance des entreprises ainsi que les pratiques telles que le rachat d’actions ont des conséquences importantes pour la compétitivité et la viabilité des entreprises. Troisièmement, il n’y a pas assez d’attention accordée aux distinctions caractéristiques et normatives entre la dette et les actions ainsi que l’encouragement indirect de la dette. Quatrièmement, le fait de traiter l’achat hostile comme étant essentiellement la seule solution à la question de l’enchâssement des cadres est problématique. Le problème du pouvoir des gestionnaires doit être revu à la lumière des faits sur le pouvoir des gestionnaires et sur l’efficacité des conseils. De plus, les politiques de rémunération des cadres doivent être mieux réfléchies, plus justes et plus équitables
Anti-angiogenic therapy for cancer: Current progress, unresolved questions and future directions
No full textTumours require a vascular supply to grow and can achieve this via the expression of pro-angiogenic growth factors, including members of the vascular endothelial growth factor (VEGF) family of ligands. Since one or more of the VEGF ligand family is overexpressed in most solid cancers, there was great optimism that inhibition of the VEGF pathway would represent an effective anti-angiogenic therapy for most tumour types. Encouragingly, VEGF pathway targeted drugs such as bevacizumab, sunitinib and aflibercept have shown activity in certain settings. However, inhibition of VEGF signalling is not effective in all cancers, prompting the need to further understand how the vasculature can be effectively targeted in tumours. Here we present a succinct review of the progress with VEGF-targeted therapy and the unresolved questions that exist in the field: including its use in different disease stages (metastatic, adjuvant, neoadjuvant), interactions with chemotherapy, duration and scheduling of therapy, potential predictive biomarkers and proposed mechanisms of resistance, including paradoxical effects such as enhanced tumour aggressiveness. In terms of future directions, we discuss the need to delineate further the complexities of tumour vascularisation if we are to develop more effective and personalised anti-angiogenic therapies. © 2014 The Author(s)
Dynamic Characterization of Connections in Plane Frames Using SFFEM
No full textAbstractIn the construction of civil engineering structures, two or more members are often rigidly connected to increase the structural integrity. These rigid joints are often designed with bolts, rivets and welding. The actions of in-service loading and environmental effects, or fabrication errors make these joints semirigid, which ultimately reduces the structural reliability. Realistic dynamic analysis of these structures requires accurate modelling of rigidity of joints. Dynamic analysis of plane frames can be accomplished by combining spectrally formulated Rod and Euler-Bernoulli Beam element. In this study, a six parameter spectral plane frame joint element is formulated using linear and rotational springs to account for semi-rigidity of joints. Methodology and experimental set up for evaluation of dynamic characteristics of connections is discussed in this paper
