Transcending borders with international top management teams: a study of European financial multinational corporations

This paper investigates how changes in firm degree of internationalization are associated with the configuration of top management teams (TMT) based on a dataset of 41 large European firms in the banking and insurance industry, including detailed career profiles of the 264 executives that were serving on the TMTs of these firms at year-end 2002. Our findings suggest firms tend to match top executive profiles to their strategies. Entry into new foreign markets and new cultural zones was found to be associated with higher levels of international capacity at TMT level, whereas changes in international posture per se are not related to TMT international capacity. We discuss the interplay between firm strategies and internal structures in the context of firm internationalization and suggest directions for future research on TMTs

Climate impact research: beyond patchwork

Despite significant progress in climate impacts research, the narratives that science can presently piece together of a 2-, 3-, 4-, or 5-degree warmer world remain fragmentary. Here we briefly review past undertakings to comprehensively characterize and quantify climate impacts based on multi-model approaches. We then report on the Inter-Sectoral Impact Model Intercomparison Project (ISI-MIP), a community-driven effort to systematically compare impacts models across sectors and scales, and to quantify the uncertainties along the chain from greenhouse gas emissions and climate input data to the modelling of climate impacts themselves. We show how ISI-MIP and similar efforts can substantially advance the science relevant to impacts, adaptation and vulnerability, and we outline the steps that need to be taken in order to make the most of available modelling tools. We discuss pertinent limitations of these methods and how they could be tackled. We argue that it is time to consolidate the current patchwork of impacts knowledge through integrated cross-sectoral assessments, and that the climate impacts community is now in a favourable position to do so.