A transatlantic case: the derivative action as a corporate governance tool

The derivative action as a minority shareholder protection device seems to be almost a dead-letter law in the British Isles as compared with the United States. Whether it can or should be revived through legislative reform and judicial interpretation presents us with important governance questions at first instance, but also raises questions regarding the importance of law, as distinct from non-legally enforceable norms, to the development of corporate governance systems, in particular regarding the director-shareholder relationship.

Analysis of the failure of cracked biscuits

Cracks or checks in biscuits weaken the material and cause the product to break at low load levels that are perceived as injurious to product quality. In this work, the structural response of circular digestive biscuits, with diameter 72 mm and thickness 7.2 mm, simply supported around the circumference and loaded by a central concentrated force was investigated by experiment and theory. Tests were conducted to quantify the distribution in breakage strength for structurally sound biscuits, biscuits with natural checks and biscuits with a single known part-through crack. For sound biscuits the breakage force is Normally distributed with a mean of 12.5 N and standard deviation of 1.2 N. For biscuits with checks, the corresponding statistics are 9.6 N ± 2.62 N respectively. The presence of a crack weakens the biscuit and strength, as measured by breakage force falls almost linearly with crack length and crack depth. The orientation of the crack, whether radial or tangential, and its location (i.e. position of the crack mid-point on the biscuit surface) are also important. Deep, radial, cracks located close to the biscuit centre can reduce the strength by up to 50%. Two separate failure criteria were examined for sound and cracked biscuits respectively. The results from these tests were in good accord with theory. For a biscuit without defects, breakage occurred when maximum biscuit stress reached or exceeded the failure stress of 420 kPa. For a biscuit with cracks, breakage occurred as above or alternatively when its critical stress intensity factor of 18 kPam0.5 was reached.

The international diffusion of project management

This paper examines the international diffusion of one business practice, project management, through the prism of prior literature and data on the diffusion of ISO 9000. The study took an inductive approach, building theory through the iterative collection and analysis of quantitative and qualitative data. The findings problematise the central position accorded to the S-curve model and neo-institutional theory in explaining technology diffusion. The research posits three distinct processes driving the diffusion process: utility, institutional isomorphism, and competitive isomorphism, with the latter consisting of three primary mechanisms: competitive imitation, trendslators and fashion retailers. Contrary to prior literature, national, quasi-professional associations are found to be central to the diffusion process and play a key role in advocating and containing management technologies.

Management technologies - are they worth it? A normative study of ISO 9001 and project management

This research inquires into the value of two common ‘management technologies’, namely ISO 9001 and project management. To avoid certain methodological problems, we study the value of these micro-level practices by inductively analysing macro-level data, specifically the intensity of project management and ISO 9001 certification (termed project management score and ISO 9001 score) in different countries against national measures of wealth and innovation. There is no correlation between ISO 9001 score and innovation, while high ISO 9001 scores are correlated with decreasing levels of wealth. The project management score is positively correlated with wealth and with innovation, though very high project management scores are negatively correlated with innovation. The study includes a cluster analysis which finds that, with one exception, countries tend to adopt either project management or ISO 9001 but not both. The analysis indicates that project management is more likely to be associated with high innovation and high wealth than ISO 9001.