The impact of the Malaysian code on corporate governance: compliance, institutional investors and stock performance

In 2001, the Malaysian Code on Corporate Governance (MCCG) became an integral part of the Bursa Malaysia Listing Rules, which requires all listed firms to disclose the extent of compliance with the MCCG. Our panel analysis of 440 firms from 1999 to 2002 finds that corporate governance reform in Malaysia has been successful, with a significant improvement in governance practices. The relationship between ownership by the Employees Provident Fund (EPF) and corporate governance has strengthened during the period subsequent to the reform, in line with the lead role taken by the EPF in establishing the Minority Shareholders Watchdog Group. The implementation of MCCG has had a substantial effect on shareholders' wealth, increasing stock prices by an average of about 4.8%. Although there is no evidence that politically connected firms perform better, political connections do have a significantly negative effect on corporate governance, which is mitigated by institutional ownership.

Earnings management and the role of the audit committee: an investigation of the influence of cross-listing and government officials on the audit committee

This paper extends research on the corporate governance practices of transitional economies by examining whether the ability of the audit committee to constrain earnings management in Chinese firms is associated with the listing environment and the presence of government officials on the audit committee. Despite considerable regulatory reforms by the Chinese Securities Regulatory Commission, there remain incentives for Chinese firms to manage earnings. However, government initiatives to encourage domestic firms to cross-list on the Hong Kong Stock Exchange are accompanied by improved governance. We find that the expertise and independence of the audit committee for cross-listed (CL) Chinese firms are associated with lower abnormal accruals, our measure of earnings management. Both domestic only listed firms and CL Chinese firms appoint government officials as independent members on the audit committee. However, due to the political connection between government officials and the controlling shareholder (the State), these appointments can severely mitigate audit committee independence. Subsequently, we find a significant and positive association between audit committee independence and experience and earnings management when there are government officials on the audit committee.

Social network media and political activism: a growing challenge for law enforcement

The use of the internet for political purposes is not new; however, the introduction of social media tools has opened new avenues for political activists. In an era where social media has been credited as playing a critical role in the success of revolutions (Earl & Kimport, 2011; Papic & Noonan, 2011; Wooley, Limperos & 10 Beth, 2010), governments, law enforcement and intelligence agencies need to develop a deeper understanding of the broader capabilities of this emerging social and political environment. This can be achieved by increasing their online presence and through the application of proactive social media strategies to identify and manage potential threats. Analysis of current literature shows a gap 15 in the research regarding the connection between the theoretical understanding and practical implications of social media when exploited by political activists,and the efficacy of existing strategies designed to manage this growing challenge. This paper explores these issues by looking specifically at the use of three popular social media tools: Facebook; Twitter; and YouTube. Through the examination of 20 recent political protests in Iran, the UK and Egypt from 2009�2011, these case studies and research in the use of the three social media tools by political groups, the authors discuss inherent weaknesses in online political movements and discuss strategies for law enforcement and intelligence agencies to monitor these activities.

Intercultural dance : exploring a Finnish migrant connection with indigenous cultures through dance

This research is a dance-based, autoethnographic study which explores my connection with place as a Savolainen woman born on Kalkadoon country; an Australian-born Finn. Edward Relph states 'the more profoundly inside a place the person feels, the stronger will be his or her identity with that place' (1976, 49). I am interested in how a sense of "place identity" has informed my choreographic practice. Autoethnography is important because it places the research within a lived experience: my insider account of a lived experience within the White Australia Policy through my lens as a first generation Australian-born Finn. It also speaks to the space in-between for those, like me, who feel they do not fit into mainstream identity but look like they do. By exploring my lived experience through dance autoethnography, new understandings of my place identity within a cultural, social and political context have emerged. Ellis and Flaherty state ‘subjectivity is situated such that the voices in our heads and the feelings in our bodies are linked to political, cultural, and historical contexts’ (1992, 4). In order to begin my rehearsal process, I wanted a cultural framework which related to connection with land to guide the research. My investigations led me to the Maori examples of "Tikanga Maori" (Tikanga are the customs and traditions), in particular the "Pepeha" (Introduction) and allowed me to challenge my choreographic practice through this cultural framework.

The value of political connections : evidence from Korean chaebols

This thesis examines the value of political connections for business groups by constructing a unique dataset that allows us to identify the form and extent of the connections. Results show firms' membership to family-controlled business groups (South Korean chaebol) play a key role in determining the value of political connections. Politically connected chaebol firms experience substantial price increases following the establishment of the connection than other firms, but the reverse is found for other (non-family-controlled) connected business groups.

Impediments to Cosmopolitan Engagement: Technology and Late-Modern Cosmopolitanism

What characterises late modern variety of cosmopolitanism from its classical predecessors is the inherent connection between cosmopolitanism and technology. Technology enables a vital dimension of the cosmopolitan experience – to move beyond the cosmopolitan imagination to enable active, direct engagement with other cultures. Different types of technologies contribute to cosmopolitan practice but in this paper we focus on a specific set of these enabling technologies: technologies which play a crucial role in regulating the free movement of people and populations. We briefly examine how three of the great surveillance states of the 20th century – Nazi Germany, the Soviet Union, and the German Democratic Republic – used hightech solutions in pursuing an anti-cosmopolitanism. We suggest that in the period from 2001 to the present, important elements of the cosmopolitan ethos are being closed down, and once again high-tech is intimately connected to this moment. The increasing (and proposed) use of identity cards, biometric identification systems, ITS and GIS all work to make the globalised world much harder to traverse and inhibit the full expression and experience of cosmopolitanism. The result of these trends may be that the type of cosmopolitan sentiment exhibited in western countries is an ersatz, emptied out variety with little political-ethical robustness.