Independent Directors and Corporate Governance

The paper examines the reliance placed in the United Kingdom and Australia on the concept of ‘independent directors’ as a mechanism to ensure better (less crisis prone) corporate governance. The article suggests that there is an over emphasis placed on some rather limited psychological evidence that independence in the boardroom produces more critical thinking and informed discussion thus leading to higher quality decision-making. The article offers others evidence, drawn from the material on the psychology of group formation and group discussion, which suggests that this confidence in ‘independence’ is misplaced. The article exposes a misunderstanding between independence as a character trait and independence as a structural concern which goes to the heart of the corporate governance discourse around the benefits of independence.

Quality of care for residents dying in Ontario long-term care facilities:Findings from a survey of directors of care

The purpose of this study was to collect information on the practice of end-of-life (EOL) care in long-term care (LTC) facilities in the Province of Ontario, Canada. A cross-sectional survey of directors of care in all licensed LTC facilities in the province was conducted between September 2003 and April 2004. Directors of care from 426 (76% response rate) facilities completed the postal survey questionnaire. The survey results identified communication problems between service providers and families, inadequate staffing levels to provide quality care to dying residents, and the need for training to improve staff skills in providing EOL care. Directors of care endorsed the use of a number of strategies that would improve the care of dying residents. Logistic regression analysis identified the eight most important items predictive of facility staff having the ability to provide quality EOL care. The findings contribute to the current discussion on policies for meeting the care needs of residents in LTC facilities until life's end. © 2006 Centre for Bioethics, IRCM.

Wider share ownership?: investors in English and Welsh Bank shares in the nineteenth century

The joint-stock banks that established after the liberalizing legislation of 1826 were periodically criticized during the nineteenth century for their low-quality and rapidly deteriorating shareholder constituencies. The quality of a bank's shareholding constituency was of paramount importance because of unlimited shareholder liability. Using archival records, this article examines the quality of bank shareholder constituencies over the nineteenth century. The main finding is that shareholder constituencies did not deteriorate in quality until the introduction of limited liability. The non-deterioration of constituencies is attributed to bank deeds which locked in the aggregate quality of shareholder constituencies by empowering directors to vet all share transfers.

Agitating for a design and regeneration agenda in a postconflict city: the case of Belfast

Introduction

Belfast has been a focus of academic attention for the last forty years with most interest centred on various aspects of ‘the Troubles’. Where there has been interest in the built environment, it has largely been about how the ‘security situation’ impacted directly on architecture and on the design and layout of social housing. This paper seeks to go beyond this to explore how the political- administrative culture of ‘the Troubles’ interacted with ‘normal’ market forces to shape the central area of the city, and to consider the responses of a recently formed activist group, known as the Forum for Alternative Belfast (hereafter referred to as the Forum). The paper is written by three of the directors of the Forum.1 Moreover, the empirical research presented here was undertaken by the Forum as part of a campaign to address issues relating to the design, layout and quality of Belfast’s built environment. In the longstanding tradition of participant observation working within an action-research paradigm, the participants have attempted to offer an account that is evidentially and purposefully selfcritical and reflective. It is of course recognised that while this approach offers many positive attributes, such as phenomenological access through immersion in the project, it also has the potential to bring compromise on research detachment and objectivity.2 To address the latter, the authors have attempted
to avoid polemical argument, and to support claims with primary or secondary research evidence. The authors also acknowledge that action-research has a chequered history; however, they would argue
that their approach is faithful to a concept that sees ‘research’ defined as understanding and ‘action’ defined as seeking change. The Forum’s very purpose is to seek change, but to do this requires evidence, collaboration and demonstration. And in this sense, it is a learning process for all participants, including the research activists, government officials, community organisations and students. The authors also recognise the complexity of factors that affect urban management and change, particularly in a city such as Belfast, which has had to cope with political violence for over thirty years. And they appreciate that in the context of conflict, governance is skewed to cope with political realities. Hamdi reminds us, however, that in practice there is an ‘important dialectic between top-down planning, with its formal and designed laws and structures, and bottom-up selforganizing collectivism—those “quantum and emergent systems” which Jane Jacobs argued long ago give cities their life and order.’3

Charabanc, cultural capital and the men of recognised credit

This paper compares the cultural legacy of the all-female Charabanc with that of Field Day, its fellow counterpart in the Irish Theatre touring movement in the 1980s. It suggests that a conscious awareness amongst the all-male Field Day board of successful writers and directors of what Bourdieu has called 'cultural capital' is implicated in the enduring authority of the work of that company within the history of Irish theatre. Conversely the paper considers if the populist Charabanc, in its steadfast refusal to engage with the hierarchies of academia and publishing, was too neglectful of the cultural capital which it accrued in its heyday and has thus been party to its own occlusion from that same history.

Adapting musicology’s use of affect theories to contemporary theatre-making: directing Martin Crimp’s Attempts on Her Life

Adopting and adapting musicology’s use of affect theories, specifically Jeremy Gilbert’s idea of an ‘affective analysis’ and David Epstein’s idea of ‘shaping affect’, this article looks at Martin Crimp’s Attempts on Her Life from a practitioner’s perspective. It investigates the challenges and benefits of adopting an ‘affective approach’ to directing recent theatre texts which stress the musicality and corporeality of language along with, and at times above, their signifying roles. Rather than locating Aristotelian dramatic climaxes based on narratological or characterological progression, an affective approach seeks to identify moments of affective intensity, which produce a different sort of impact by working on a ‘body-first’ methodology rather than the directly cerebral. That this embodied impact is not ultimately meaningless is one of affect theories most vital assertions. This approach has resonance in terms of how directors, performers and critics/theorists approach work of this type.

Gender Diversity in the FTSE 100: The Business Case Claim Explored

This article examines the debate within corporate governance about the
appointment of female non-executive directors (NEDs). The first part
tracks the diversity story that corporate governance tells about itself from
the Cadbury Report (1992) to the Davies Report (2011). The second sets
out the evidence used to support the argument that female appointments
enhance profits and corporate profile. The third part presents the
authors' empirical analysis of FTSE 100 companies and female non-
executive board membership, and concludes that there is little evidence
that companies with female board membership display different charac-
teristics from those without. Industry sector emerges as a significant
factor in female appointments. The idea that women should be appointed
to boards to increase corporate profitability and profile is not strongly
supported by this analysis.A social justice argument based upon the right
of woman to equal economic participation opportunities provides a much
superior articulation of the need for boardroom diversity.

Substitutes for legal protection: corporate governance and dividends in Victorian Britain

Companies in Victorian Britain operated in a laissez-faire legal environment from the perspective of outside investors, implying that such investors were not protected by the legal system. This article seeks to identify the alternative mechanisms that outside shareholders used to protect themselves by examining the dividend policy and governance of over 800 publicly traded companies at the beginning of the 1880s. We assess the importance of these mechanisms by estimating their impact on Tobin's Q. Our evidence suggests that dividends and well-structured and incentivized boards of directors may have played a role in protecting the interests of outside investors.