The role of the board in firm strategy: Integrating agency and organisational control perspectives

The role of the board of directors in firm strategy has long been the subject of debate. However, research efforts have suffered from several deficiencies: the lack of an overarching theoretical perspective, reliance on proxies for the strategy role rather than a direct measure of it and the lack of quantitative data linking this role to firm financial performance. We propose a new theoretical perspective to explain the board's role in strategy, integrating organisational control and agency theories. We categorise a board's approach to strategy according to two constructs: strategic control and financial control. The extent to which either construct is favoured depends on contextual factors such as board power, environmental uncertainty and information asymmetry.

A golden age of human pigmentation genetics

The zebrafish golden mutation is characterized by the production of small and irregular-shaped melanin granules, resulting in a lightening of the pigmented lateral stripes of the animal. The recent positional cloning and localization of the golden gene, combined with genotype-phenotype correlations of alleles of its human orthologue (SLC24A5) in African-American and African-Caribbean populations, provide insights into the genetic and molecular basis of human skin colour. SLC24A5 promotes melanin deposition through maturation of the melanosome, highlighting the importance of ion-exchange in the function of this organelle.

Stephanostomum talakitok n. sp (Digenea : Acanthocolpidae) from the golden trevalley, Gnathanodon speciosus (Perciformes : Carangidae), from Ningaloo Reef, Western Australia

A new species, Stephanostomum talakitok n. sp., is described from the golden trevally Gnathanodon speciosus, Ningaloo Reef, Western Australia. It has 36 (34-40) circum-oral spines and the vitellarium reaches to no less than 10-17% of the hindbody length from the ventral sucker. It differs from other species of Stephanostomum with these characteristics by combinations of the gradual diminution of the circum-oral spine size to a small mid-ventral spine, the contiguous gonads with no intervening vitelline follicles, the sucker-ratio and various other ratios, including the distance between the ventral sucker and the ovary and the distance the cirrus-sac reaches into the hindbody, both as a proportion of body length.