The rise of englightened shareholder primacy and its impact on US corporate self-regulation

Enlightened shareholder primacy (“ESP”) is a new approach in the corporate governance (“CG”) framework. The emergence of this approach is important owing to its role in answering a vital question: is the company really a private organisation to be seen only through the economic prism of contract? Or is it public and about a wider group of interests and underwritten by communitarian concern about social responsibility? Apart from answering this question, ESP explains the changes in corporate directors’ roles and self-regulation strategies of companies.

Corporate governance and bankruptcy risk

We examine how firm characteristics, particularly the degree of firm complexity and the firm’s need for specialty knowledge, affect the relationship between corporate governance and the risk of bankruptcy. We find that having larger boards reduces the risk of bankruptcy only for complex firms. Our results also suggest that the proportion of inside directors on the board is inversely associated with the risk of bankruptcy in firms that require more specialist knowledge, and that the reverse is true in technically unsophisticated firms. The results further reveal that the additional explanatory power from corporate governance variables becomes stronger as the time to bankruptcy is increased, implying that although corporate governance variables are important predictors, governance changes are likely to be too late to save a firm on the verge of bankruptcy.

Echology: Making sense of data - reflections on resilient ecologies of partnership [Abstract]

The Echology: Making Sense of Data initiative seeks to break new ground in arts practice by asking artists to innovate with respect to a) the possible forms of data representation in public art and b) the artist's role in engaging publics on environmental sustainability in new urban developments. Initiated by ANAT and Carbon Arts in 2011, Echology has seen three artists selected by National competition in 2012 for Lend Lease sites across Australia. In 2013 commissioning of one of these works, the Mussel Choir by Natalie Jeremijenko, began in Melbourne's Victoria Harbour development. This emerging practice of data - driven and environmentally engaged public artwork presents multiple challenges to established systems of public arts production and management, at the same time as offering up new avenues for artists to forge new modes of collaboration. The experience of Echology and in particular, the Mussel Choir is examined here to reveal opportunities for expansion of this practice through identification of the factors that lead to a resilient 'ecology of part nership' between stakeholders that include science and technology researchers, education providers, city administrators, and urban developers.

After Darkly Catwalk Design, QUT Fashion Graduate Showcase 2013

QUT Fashion collaborated with QUT Interior Design to design the Catwalk for the After Darkly Graduate Fashion Show 2013. The ephemeral work (catwalk canopy) was developed through a collaboration between the authors based upon an undergraduate interior design unit 'Filmic Interiors'. The unit exploited the potential of film to influence, understand, and develop novel interior spaces – particularly through consideration of mise en scene, cinematic effects and atmospheric design strategies engaged by key film directors. The design outcome represented a hybridisation of student design proposals, contemplating both film and emerging fashion collections from QUT fashion graduate class of 2013. The creative work built upon material experimentation research explored by the designers either through prior QUT interior design units ('Strange Spaces') or through previous practice ‘Making Strange’(1). The work explored a number of iterations each testing material qualities and associated immaterial cinematic affects. The final catwalk proposed a unique design, which posited the spectators centrally within the space, encircled by a hand formed flexible material canopy used as an entrance for the fashion collections. The proposal exploited the malleable yet tensile character of the canopy to inform a temporary installation, intensified further through a varied program of sceno-graphic lighting. (1) Lindquist, M. & Pytel, A. (2013)

Challenges confronting career-changing beginning teachers : a qualitative study of professional scientists becoming science teachers

Recruitment of highly qualified science and mathematics graduates has become a widespread strategy to enhance the quality of education in the field of STEM. However, attrition rates are very high suggesting preservice education programs are not preparing them well for the career change. We analyse the experiences of professionals who are scientists and have decided to change careers to become teachers. The study followed a group of professionals who undertook a one-year preservice teacher education course and were employed by secondary schools on graduation. We examined these teachers’ experiences through the lens of self-determination theory, which posits autonomy, confidence and relatedness are important in achieving job satisfaction. The findings indicated that the successful teachers were able to achieve a sense of autonomy and confidence, and, in particular, had established strong relationships with colleagues. However, the unique challenges facing career-change professionals were often overlooked by administrators and colleagues. Opportunities to build a sense of relatedness in their new profession were often absent. The failure to establish supportive relationships was decisive in some teachers leaving the profession. The findings have implications for both pre-service and professional inservice programs and the role that administrators play in supporting career-change teachers.

Corporate governance quality, audit fees and non-audit services fees

This paper extends prior research on the relationship between governance quality and auditor remuneration.We examine the influence of audit committee effectiveness (ACE), a proxy for governance quality, on audit fees (AF) and non-audit services fees (NASF) using a new composite measure comprising audit committee independence, expertise, diligence and size. We find that after controlling for board of director characteristics, there is a significant positive association between ACE and AF only for larger clients. Our results indicate that effective audit committees undertake more monitoring which results in wider audit scope and higher audit fees. Contrary to our expectations, we find the association between ACE and NASF to be positive and significant, especially for larger clients. This suggests that larger clients are more likely to purchase non-audit services (NAS) even in the presence of effective audit committees probably due to the complexity of their activities. Overall, our findings support regulatory initiatives aimed at improving corporate governance quality.

Board monitoring and the balanced scorecard in nonprofits : challenges in realising potential

Directors of nonprofits in most countries have legal responsibility for monitoring organisational performance (Brody 2010), although there is typically little guidance on how this should occur. The balanced scorecard (BSC) (Kaplan & Norton, 1996, 2001) potentially provides boards with a monitoring tool (Kaplan $ Norton, 2006; Lorsch, 2002). The BSC is intended to help integrate performance measurement, performance management and strategy implmentation (Kaplan 2009). The scorecards is balanced in that it should incorporate both financial and non-financial measures, external and internal perspectives, short and long-term objectives and both lagging and leading indicators. It is a relatively simple tool, but with potentially profound implications for directing board attention and sbusequent action (Ocasio, 1997; Salterio, 2012).

An Australian perspective on the ALI-III global principles for cooperation in International insolvency cases

In 2012, Professor Ian Fletcher (United Kingdom) and Professor Bob Wessels (The Netherlands) presented a Report to the American Law Institute and the International Insolvency Institute entitled Transnational Insolvency: Global Principles for Cooperation in International Insolvency Cases (“Global Principles”). This followed their appointment as Joint Reporters to investigate whether the essential provisions of the American Law Institute Principles of Cooperation among the North American Free Trade Agreement Countries with their annexed Guidelines Applicable to Court-to-Court Communication in Cross-border Cases may, with certain necessary modifications, be acceptable for use by jurisdictions across the world. This article comments on the Global Principles from the perspective of a jurisdiction which has adopted the UNCITRAL Model Law on Cross-border Insolvency (“Model Law”). In 2008, Australia enacted a standalone statute, the Cross-border Insolvency Act 2008 (Cth) to which is annexed the Model Law. In that process, it made minimal changes to the Model Law text. Against the background of the 2008 Act, related procedural laws as well as Australia’s general insolvency statutes and recent cross-border insolvency jurisprudence, this article comments on the potential relevance of the Transnational Insolvency Report as a point of reference for Australian courts and insolvency administrators when addressing international insolvency cases. By comparing the Global Principles with the Model Law as closely adopted in Australia, this analysis is a resource for other Model Law jurisdictions when considering the potential relevance of the Global Principles for their own international insolvency practice.

In and out of preschool learning with iPads

In this chapter we describe and explain the ways we negotiated these same epistemological tensions and structural realities as we implemented the iPad loan component of the project reported in this book (hereafter: “iPad loan program”).Children who participated in the iPad loan program were able to take home one of the project iPads used in their preschool centre, much as they were able to take home books and puzzles. This component was one reflection of the ethos of “digital inclusion” that infused the project. As we noted in the introduction to this book, there is international recognition of the role that schools can play in ensuring all communities can participate in digital culture and the digital economy (e.g., European Commission, 2014; United States Government, 2013). Accordingly, we conducted the project in preschool centres where at least some groups of children were thought to enjoy less access to learning on digital platforms than others. Our goal was to put the iPad into the hands of children who might not otherwise have had access to it, while supporting teachers and parents in capitalising on the learning potential of the device for all the children. Centres nominated for the project by administrators in the preschool system all served communities that were either affected by poverty and/or diverse in language and culture.

Moving forwards with the aim of going backwards fast : high performance rowing as a learning environment

Background and Purpose: - This paper focuses on the learning culture within the high performance levels of rowing. In doing so, we explore the case of an individual’s learning as he moves across athletic, coaching and administrative functions. This exploration draws on a cultural learning framework and complementary theorisings related to reflexivity. Method - This study makes use of an intellectually, morally and collaboratively challenging approach whereby one member of the research team was also the sole participant of this study. The participant’s careers as a high performance athlete, coach and administrator, coupled with his experience in conducting empirical research presented a rare opportunity to engage in collaborative research (involving degrees of insider and outsider status for each of the research team). We acknowledge that others have looked to combine roles of coach / athlete / administrator with that of researcher however few (if any) have attempted to combine them all in one project. Moreover, coupled with the approach to reflexivity adopted in this study and the authorship contributions we consider this scholarly direction uncommon. Data were comprised of recorded research conversations, a subsequently constructed learning narrative, reflections on the narrative, a stimulated reflective piece from the participant, and a final (re)construction of the participant’s story. Accordingly, data were integrated through an iterative process of thematic analysis. Results - The cultural (i.e., the ways things get done) and structural (e.g., the rules and regulations) properties of high performance rowing were found to shape both the opportunities to be present (e.g., secure a place in the crew) and to learn (e.g., learn the skills required to perform at an Olympic level). However, the individual’s personal properties were brought to bear on re-shaping the constraints such that many limitations could be overcome. In keeping with the theory of learning cultures, the culture of rowing was found to position individuals (a coxswain in this case) differentially. In a similar manner, a range of structural features was found to be important in shaping the cultural and personal elements in performance contexts. For example, the ‘field of play’ was found to be important as a structural feature (i.e., inability of coach to communicate with athletes) in shaping the cultural and personal elements of learning in competition (e.g., positioning the coxswain as an in-boat coach and trusted crewmate). Finally, the cultural and structural elements in rowing appeared to be activated by the participant’s personal elements, most notably his orientation towards quality performance. Conclusion - The participant in this study was found to be driven by the project that he cares about most and at each turn he has bent his understanding of his sport back on itself to see if he can find opportunities to learn and subsequently explore ways to improve performance. The story here emphasises the importance of learner agency, and this is an aspect that has often been missing in recent theorising about learning. In this study, we find an agent using his ‘personal emergent powers to activate the resources in the culture and structure of his sport in an attempt to improve performance. We conclude from this account that this particular high performance rowing culture is one that provided support but nonetheless encouraged those involved, to ‘figure things out’ for themselves – be it as athletes, coaches and/or administrators.

Rethinking board composition: Balancing competence and compatibility in director selection

Board composition is critical to board effectiveness. Shaping an effective board begins with the selection of directors. While much attention has been paid to the skills and qualifications directors require, there has been less focus on the necessity for board members to interact and work well together. This exploratory study offers insights into what qualities directors look for when selecting new members and the approach adopted to identify and select them. The findings of 10 in-depth interviews with Australian directors suggest new members are selected both on competencies and compatibility. Yet not all selection approaches adequately assess candidates for these two criteria. As a result many appointments fail to realise the selection criteria reducing capacity to reach its full potential.

Reflections on a novel coach education program: A narrative analysis

This paper reports on a collaborative research project between the Faculty of Health Sciences at the University of Ottawa, Triathlon Canada, and the Coaching Association of Canada (CAC). It was designed around a lifelong learner perspective and the Organization for Economic Cooperation and Development’s (OECD) qualifications system. In this paper, we first review the coach learning literature as it pertains to the CAC. We then highlight the background and perspective of a high performance director’s experience in designing and attempting to implement a novel coach education training program. In doing so we uncover the frustrations and tensions in trying to balance innovation with prescribed process and policy. We conclude by making suggestions for further research specifically focused on the background of the key agents involved with the design, implementation and administration of coach education training programs in the competition-development context of the NCCP.

Hospital infection control units: Staffing, costs, and priorities

Background: This article describes infection prevention and control professionals’ (ICPs’) staffing levels, patient outcomes, and costs associated with the provision of infection prevention and control services in Australian hospitals. A secondary objective was to determine the priorities for infection control units. Methods: A cross-sectional study design was used. Infection control units in Australian public and private hospitals completed a Web-based anonymous survey. Data collected included details about the respondent; hospital demographics; details and services of the infection control unit; and a description of infection prevention and control-related outputs, patient outcomes, and infection control priorities. Results: Forty-nine surveys were undertaken, accounting for 152 Australian hospitals. The mean number of ICPs was 0.66 per 100 overnight beds (95% confidence interval, 0.55-0.77). Privately funded hospitals have significantly fewer ICPs per 100 overnight beds compared with publicly funded hospitals (P < .01). Staffing costs for nursing staff in infection control units in this study totaled $16,364,392 (mean, $380,566). Infection control units managing smaller hospitals (<270 beds) identified the need for increased access to infectious diseases or microbiology support. Conclusion: This study provides valuable information to support future decisions by funders, hospital administrators, and ICPs on service delivery models for infection prevention and control. Further, it is the first to provide estimates of the resourcing and cost of staffing infection control in hospitals at a national level. Copyright

Rediscovering law students as citizens: Critical thinking and the public value of legal education

In a series of publications over the last decade, Australian National University Professor Margaret Thornton has documented a disturbing change in the nature of legal education. This body of work culminates in a recently published book based on interviews with 145 legal academics in Australia, the United Kingdom, New Zealand and Canada. In it, Thornton describes a feeling of widespread unease among legal academics that society, government, university administrators and students themselves are moving away from viewing legal education as a public good which benefits both students and society. Instead, legal education is increasingly being viewed as a purely private good, for consumption by the student in the quest for individual career enhancement.