Opting only in: Contractarians, waiver of liability provisions, and the race to the bottom

This paper will test the core claim of scholars in the nexus of contracts tradition—that private ordering as a process of bargaining creates optimal rules. We do this by analyzing empirical evidence in the context of waiver of liability provisions. These provisions allow companies to eliminate monetary damages for breach of the duty of care through amendments to the articles of incorporation. With all states allowing some form of these provisions, they represent a good laboratory to examine the bargaining process between management and shareholders. The contractarian approach would suggest that shareholders negotiate with management to obtain agreements that are in their best interests. If a process of bargaining is at work as they claim, the opt-in process for waiver of liability provisions ought to generate a variety of approaches. Shareholders wanting a high degree of accountability would presumably not support a waiver of liability. In other instances, shareholders might favor them in order to attract or retain qualified managers. Still others would presumably want a mix, allowing waiver but only in specified circumstances.Our analysis reveals that the diversity predicted by a private ordering model is not borne out by the evidence with waiver of liability provisions for Fortune 100 companies. All states permit such provisions and in the Fortune 100, all but one company has them. Moreover, they are remarkably similar in effect, waiving liability to the fullest extent permitted by law. In other words, one categorical rule was merely replaced by another, dealing a significant blow to the contractarian thesis.

Executive equity risk-taking incentives and audit pricing

Using a large sample of U.S. firms spanning the period 2000-2010, we document a strong positive association between the sensitivity of CEO compensation portfolio to stock return volatility (vega) and audit fees. We also show that the positive association between vega and audit fees is weaker in the post-Sarbanes-Oxley Act (SOX) period. In supplementary tests, we show that the relation between vega and audit fees is stronger for firms with older CEOs and in firms where the CEO is also chairman of the board. Collectively, our results suggest that audit firms incorporate executive risktaking incentives in the fees they charge for their services.

Ian Jacobs - resuscitation leader, educator and researcher

Ian Jacobs BAppSc (WAIT), DipEd (Murd), PhD (WAust), RN, FRCNA, FACAP, FERC, Chairman of the Australian Resuscitation Council and co-chair of the International Liaison Committee On Resuscitation died suddenly on the 19th October 2014. He collapsed due to a cerebral haemorrhage while on the job, having delivered a critically ill patient to the Emergency Department of the Royal Perth Hospital, sadly he did not recover. This article reveals something of his enormous influence on and contributions to nursing, pre-hospital and emergency medicine, critical care and resuscitation on a national, and international scale.

Civilisation, culture and the hybrid self in the work of Robert Ezra Park

Contemporary discussions on hybridity in cultural and ethnic studies have overlooked the work of the Chicago sociologist Robert E. Park. Park's idea of the “marginal man” and his work on cultural and racial hybridity can shed further light on the construction and representation of the hybrid self. The contribution that Park has made to a social theory of hybridity has been overshadowed by research conducted within post-colonial and cultural studies. I do not suggest that recent conceptualisations of hybridity are inadequate; rather that Park has something to contribute to contemporary accounts and in some cases anticipates some of the themes and issues surrounding the concept of hybridity. The following examination connects Park's work on hybridity with ideas such as civilisation, culture and modernity and argues that a mild form of primitivism underlines his notion of the “marginal man”.

Building capacity for rural health : the role of boundary crosser and the impact of their behaviours on community readiness partnerships

The concept of partnership has entered policy rhetoric and is urged as good practice in a variety of domains including health. Rural communities tend to have fewer resources available for the provision of services such as health than their metropolitan counterparts, and so could be expected to benefit from partnerships with external agencies. Indicators of coalition maturity for working in partnership with external agents in order to build stronger communities are distilled from the group development and partnership research literature and considered in the light of the experiences of the University Department of Rural Health in community engagement. The chapter draws on experiences of two rural community coalitions working to plan and negotiate health service provision. The coalitions were analysed against the indicators. A key indicator of maturity and readiness for working in partnership with external agents is related to the behaviour of ‘boundary crossers’. Boundary crossers are defined as people who move freely between two or more domains and who understand the values, cultures and language, and have the trust, of both. Domains can be within a community or be the community and an external sector. Community health professionals, especially those in senior positions, often act as boundary crossers between the community and broader domains such as regional/state health services or policy, although other community members can fill the role. Other key indicators of coalition maturity for working in partnership with external agents include local leadership that empowers the community, a willingness of community coalitions to take risks and mould opportunities to meet their vision, and a culture of critical reflection and evaluation of past actions.

This chapter analyses the impact of boundary crossing behaviour on community readiness and partnerships with external agents that are intended to build rural community capacity to plan and negotiate health service provision. It is argued that the characteristics and modus operandi of boundary crossers who are members of rural community coalitions affect the level of maturity of the coalitions and community readiness to work with external agents. An understanding of the characteristics and modus operandi of boundary crossers provides valuable insights for external agents in designing their approach to partnerships that build rural community capacity for health.

Robert Boyle's theory of nature, with reference to his understanding of natural laws

Argues that the theory of nature-cum-theology and the view of of natural laws of the 17th century natural philosopher, Robert Boyle, were more complex and eclectic than is usually believed. Support is given for construing Boyle as a more complex thinker than previous scholars have suggested.