The separation of ownership and control under a happiness-based theory of the corporation

Explores the happiness-based theory of the corporation, suggesting that there is no conflict between the pursuance of economic and social objectives on the basis that their interplay is required to facilitate shareholder happiness. Considers: (1) the Berle-Means hypothesis and the separation of ownership and control, the dominant governance structure for large companies; (2) a happiness-based perspective on the separation; and (3) law reform applicable to a happiness-based theory. Argues that the separation of ownership and control is not in shareholders' best interests because the structure is not conducive to the happiness of individual shareholders and should be reformed.

How transnational environmental advocacy networks socialize international financial institutions: a case study of the international finance corporation

Environmental organizations, characterized here as transnational advocacy networks, use various strategies to "green" international financial institutions (IFIs). This article goes beyond analyzing network strategies to examine how transnational advocacy networks reconstitute the identity of IFIs. This, it is argued, results from processes of socialization: social influence, persuasion and coercion by lobbying. A case study of the International Finance Corporation (IFC), as a member of the World Bank Group, is used to analyze how an IFI internalized sustainable development norms. The IFC finances private enterprise in developing countries by providing venture capital for private projects. Transnational advocacy networks socialized the IFC through influencing its projects, policies and institutions via direct and indirect interactions to the point where the organization now sees itself as a sustainable development financier. This article applies constructivist insights to the greening process in order to demonstrate how socialization can reshape an IFI's identity.

Introduction of new technology into hydroponic tomato growing at the farm level - a case study in collaborative research

In 2000 Deakin University and Elmac Hydroponics, with funding from the Australian Research Council began a collaborative PhD project researching the management and economics for commercial tomato production using the innovative Autopot® hydroponics system. The collaboration between Deakin University, the Elmac farmers and the wider hydroponics industry was central to this research project. A significant outcome was the education of both the researchers and the farmers. Deakin University researchers benefited from the chance to learn about conducting research within the commercial constraints of the industry. Elmac and the wider industry had the opportunity to learn about the methodology, application and limitations of scientific research. However, there are conflicts between the desired educational outcomes for the stakeholders in a collaborative project of this type. In most cases, the award of the PhD degree to the candidate depends entirely on the thesis. A thesis however, would be of little value to most hydroponics farmers. The desired educational outcome for industry is in the application of the results to their situation for improved management of production and increased profit. This paper highlights the benefits and constraints of collaborative research into the introduction of innovative technology to the hydroponics industry.

Farm-level efficiency and productivity measurement using panel data: wool production in south-west Victoria

In this article we explore some issues surrounding the use of farm-level efficiency and productivity estimates for benchmarking studies. Using an eight-year balanced panel of Victorian wool producers we analyse annual variation between estimates of farm-level technical efficiency derived using Data Envelopment Analysis and Malmquist estimates of Total Factor Productivity. We find that farms change their relative rank in terms of efficiency across years. Also, unlike aggregate studies of Total Factor Productivity, we find at best erratic and modest growth, a worrying result for this industry. However, caution is needed when interpreting these results, and for that matter, benchmarking analysis as currently practised when using frontier estimation techniques like Data Envelopment Analysis.

Where is a corporation's "centre of main interests" in international insolvency?

The international community has long sought the appropriate means by which insolvencies involving several jurisdictions should be conducted. Central to the solution proposed is the view that jurisdictions should primarily co-operate with the proceeding underway in a company's "centre of main interests". This concept will be of increasing importance to Australia with the passing of the Cross Border Insolvency Act 2008 , which enacts domestically the provisions of the United Nations Commission on International Trade Law Model Law on Cross Border Insolvency. This article examines how this concept was intended to operate, the actual provisions of the relevant Instruments together with how it has been judicially interpreted. It will be shown that while some certainties concerning the operation of this concept have been achieved, determining this actual location remains surrounded with considerable vagueness. This article proceeds to suggest the most appropriate interpretation of this "centre of main interests" concept.

The sustainable farm families project: changing farmer attitudes to health

Farm health and safety has focussed on strategies such as injury prevention, audits and fulfilling legislative responsibilities. We know farmer injuries mask deeper health issues such as higher rates of cancer, suicides, cardiovascular disease and stress. The relationship between occupational health and safety and farming family health has not been investigated by other researchers either nationally or internationally. The Sustainable Farm Families (SFF) project attempts to make this connection in order to address the unacceptable rates of premature death, higher morbidity and injury on Australian farms.

The SFF focuses on the human resource in the triple bottom line and is working with farmers, families, industry, and university to collaboratively address and improve the health and well being of farming families. Based on a model of extension that engages farming families as active learners where they commit to healthy living and safe working practices the SFF is proving to be an effective model for engaging communities in learning and change. Health education and information is delivered to farming families using a workshop format with participants reporting positive impacts on their farming business. The SFF project sits across generations and sexes and has a high level of support with the overwhelming majority of participants saying they would recommend the program to others.

This paper discusses the progress of the research outlining the design of the project, the delivery and extension processes used to engage 321 farming families to date. The paper presents key learning’s on intersectoral collaboration, engaging farmers and families in health and the future for this project extending into agricultural industries across the nation.

Three key learnings: (1) The increased health risks faced by farmers and their families need social and political attention. (2) Joint ownership and collaborative partnerships where all partners have a key role within the development and delivery of the project to their relevant representative groups enables resources to be shared and encourages greater in-kind support to augment funding received. (3) Farming families are keen to understand more about their health and farmers who participate in health education programs based around industry collaboration with high levels of individual participation will engage with health professionals and obtain an improved health status if programs are presented to them in personally engaging and relevant ways