What does board capital really bring to the table? Exploring the effect of directors' human and social capital on effective governance during international expansion

What constitutes effective corporate governance? Which director characteristics render boards effective at positively influencing firm-level performance outcomes? This dissertation examines these questions by taking a multilevel, multidisciplinary approach to corporate governance. I explore the individual-, team-, and firm- level factors that enable directors to serve effectively as strategic resources during international expansion. I argue that directors' international experience improves their ability to serve as effective strategic consultants and resource providers to firms during the complex internationalization process. However, unlike prior research, which tends to assume that directors with the potential to provide important resources uniformly do so, I acknowledge contextual factors (i.e. board cohesiveness, strategic relevance of directors' experience) that affect their propensity to actually influence outcomes. I explore these issues in three essays: one review essay and two empirical essays.^ In the first empirical essay, I integrate resource dependence theory with insights from social-psychological research to explore the influence of board capital on firms' cross-border M&A performance. Using a sample of cross-border M&As completed by S&P 500 firms from 2004-2009, I find evidence that directors' depth of international experience is associated with superior pre-deal outcomes. This suggests that boards' deep, market-specific knowledge is valuable during the target selection phase. I further find that directors' breadth of international experience is associated with superior post-deal performance, suggesting that these directors' global mindset helps firms in the post-M&A integration phase. I also find that these relationships are positively moderated by board cohesiveness, measured by boards' internal social ties.^ In the second empirical essay, I explore the boundary conditions of international board capital by examining how the characteristics of firms' internationalization strategy moderate the relationship between board capital and firm performance. Using a panel of 377 S&P 500 firms observed from 2004-2011, I find that boards' depth of international experience and social capital are more important during early stages of internationalization, when firms tend to lack market knowledge and legitimacy in the host markets. On the other hand, I find that breadth of international experience has a stronger relationship with performance when firms' have higher scope of internationalization, when information-processing demands are higher.^

What Does Board Capital Really Bring to the Table? Exploring the Effect of Directors’ Human and Social Capital on Effective Governance During International Expansion

What constitutes effective corporate governance? Which director characteristics render boards effective at positively influencing firm-level performance outcomes? This dissertation examines these questions by taking a multilevel, multidisciplinary approach to corporate governance. I explore the individual-, team-, and firm- level factors that enable directors to serve effectively as strategic resources during international expansion. I argue that directors’ international experience improves their ability to serve as effective strategic consultants and resource providers to firms during the complex internationalization process. However, unlike prior research, which tends to assume that directors with the potential to provide important resources uniformly do so, I acknowledge contextual factors (i.e. board cohesiveness, strategic relevance of directors’ experience) that affect their propensity to actually influence outcomes. I explore these issues in three essays: one review essay and two empirical essays. In the first empirical essay, I integrate resource dependence theory with insights from social-psychological research to explore the influence of board capital on firms’ cross-border M&A performance. Using a sample of cross-border M&As completed by S&P 500 firms from 2004-2009, I find evidence that directors’ depth of international experience is associated with superior pre-deal outcomes. This suggests that boards’ deep, market-specific knowledge is valuable during the target selection phase. I further find that directors’ breadth of international experience is associated with superior post-deal performance, suggesting that these directors’ global mindset helps firms in the post-M&A integration phase. I also find that these relationships are positively moderated by board cohesiveness, measured by boards’ internal social ties. In the second empirical essay, I explore the boundary conditions of international board capital by examining how the characteristics of firms’ internationalization strategy moderate the relationship between board capital and firm performance. Using a panel of 377 S&P 500 firms observed from 2004-2011, I find that boards’ depth of international experience and social capital are more important during early stages of internationalization, when firms tend to lack market knowledge and legitimacy in the host markets. On the other hand, I find that breadth of international experience has a stronger relationship with performance when firms’ have higher scope of internationalization, when information-processing demands are higher.

Taiwanese faculty and administrators' perceptions and preferences toward shared governance

This study investigated the perceptions, attitudes, preferences, and actual reported degree of faculty participation in decision-making in Taiwanese universities. It was aimed at exploring possible agreements and disagreements between the faculty and administrators concerning these perceptions, and between the actual and preferred degree of faculty participation in both groups. ^ Seven questions were addressed in this study: (a) What are the most and the least reported areas of faculty involvement in decision making? (b) What are the most and the least preferred areas of faculty involvement in decision-making? (c) Is there a difference between faculty and administrators' reports of faculty involvement in decision-making? (d) Is there a difference between faculty and administrators in their preference for faculty involvement in decision-making? (e) Among the faculty, is reported involvement different from preferred involvement in decision-making? (f) Among the administrators, is their reported faculty involvement different from their preferred faculty involvement? and (g) Do faculty and administrators hold different attitudes toward faculty participation in decision-making? ^ The results indicated that: (a) Faculty had the highest level of involvement in academic decisions, and had the lowest level of involvement in developing general policies. (b) Both faculty and administrators had the highest preference for faculty involvement in academic decisions, and both of them had the lowest preference for faculty involvement in general policies. (c) Administrators reported a level of involvement for the faculty that was higher than the level that the faculty themselves reported. (d) Faculty desired a higher level of involvement than they currently have, and administrators also agreed that faculty should have greater involvement. ^ The interview results indicated that the presidents believed that faculty should participate in decision-making, but they also had negative feelings towards faculty who were enthusiastic about participating. The presidents showed their support of faculty participation in academic decisions, but not in other areas. ^ The results reflected the traditional Taiwanese social expectations of the role of faculty. When the range of decisions was narrowed to the academic context, the disagreements between the faculty, administrators, and university presidents disappeared. However, when the range of decisions was expanded, the agreement declined. ^

Teachers' perceptions of the national board certification process: Developing a sense of professionalism

This study describes and explains the experiences and perceptions of six public school teachers who had undergone the National Board for Professional Teaching Standards national certification process as a vehicle for promoting a teacher's sense of professionalism. Of these six participants, two achieved National Board certification, two did not achieve National Board certification, and two are awaiting results of their certification status. The study took place over a period of eleven months and focused on the participants' perceptions regarding the National Board certification process as it affected their sense of (a) efficacy and (b) professionalism. Data for this collective case study were gathered from interviews, portfolios and videotapes, and artifacts. Using case analysis, this study's participants' responses gathered through the interview process were examined. ^ The findings indicated that participants had concerns about the National Board certification process in the following areas: process, sense of efficacy, and sense of professionalism. All participants reported the process to be overwhelmingly demanding. Analysis of the data also reveals that those who were successful in achieving National Board certification had a greater sense of efficacy than those who did not. A disappointing finding was that the National Board process impacting participants' sense of professionalism could not be sustained; however, the participants in this study suggested the process was a step towards providing opportunities for collaboration, collegiality, and reflective practice. This study raises the question as to whether or not the espoused purposes of National Board certification are achieved via the certification process. ^

Efficiency and power density improvement of grid-connected hybrid renewable energy systems utilizing high frequency-based power converters

High efficiency of power converters placed between renewable energy sources and the utility grid is required to maximize the utilization of these sources. Power quality is another aspect that requires large passive elements (inductors, capacitors) to be placed between these sources and the grid. The main objective is to develop higher-level high frequency-based power converter system (HFPCS) that optimizes the use of hybrid renewable power injected into the power grid. The HFPCS provides high efficiency, reduced size of passive components, higher levels of power density realization, lower harmonic distortion, higher reliability, and lower cost. The dynamic modeling for each part in this system is developed, simulated and tested. The steady-state performance of the grid-connected hybrid power system with battery storage is analyzed. Various types of simulations were performed and a number of algorithms were developed and tested to verify the effectiveness of the power conversion topologies. A modified hysteresis-control strategy for the rectifier and the battery charging/discharging system was developed and implemented. A voltage oriented control (VOC) scheme was developed to control the energy injected into the grid. The developed HFPCS was compared experimentally with other currently available power converters. The developed HFPCS was employed inside a microgrid system infrastructure, connecting it to the power grid to verify its power transfer capabilities and grid connectivity. Grid connectivity tests verified these power transfer capabilities of the developed converter in addition to its ability of serving the load in a shared manner. In order to investigate the performance of the developed system, an experimental setup for the HF-based hybrid generation system was constructed. We designed a board containing a digital signal processor chip on which the developed control system was embedded. The board was fabricated and experimentally tested. The system's high precision requirements were verified. Each component of the system was built and tested separately, and then the whole system was connected and tested. The simulation and experimental results confirm the effectiveness of the developed converter system for grid-connected hybrid renewable energy systems as well as for hybrid electric vehicles and other industrial applications.

The Role of GIS in DRR: Classifying and Improving GIS Capabilities in Small Towns and Rural Areas

Optimizing GIS capability does not always require that the municipality obtain cutting edge professionals and resources. This paper offers a disaster risk reduction (DRR) design methodology for small towns and rural areas that employs a multi-variable classification system, enabling customization for effective DRR. Determining appropriate GIS capacity requires that a community first be evaluated in order to identify its disaster risk reduction/disaster management (DRR/DM) requirements. These requirements are then considered in conjunction with the municipality's resources to establish the desired capability. Qualification levels for major aspects of GIS capability with respect to DRR/DM are provided along with descriptions of each level and suggested procedures for advancement to the next level. It should be noted that a municipality can be classified at a different level with respect to different variables. Needs vary according to the community, thus attainment of a uniform capability level may not be necessary.

Capabilities of Police and Military Forces in Central America -- A Comparative Analysis of Guatemala, El Salvador, Honduras an d Nicaragua

A difficult transition to a new paradigm of Democratic Security and the subsequent process of military restructuring during the nineties led El Salvador, Honduras, Guatemala and Nicaragua to re-consider their old structures and functions of their armed forces and police agencies. This study compares the institutions in the four countries mentioned above to assess their current condition and response capacity in view of the contemporary security challenges in Central America. This report reveals that the original intention of limiting armies to defend and protect borders has been threatened by the increasing participation of armies in public security. While the strength of armies has been consolidated in terms of numbers, air and naval forces have failed to become strengthened or sufficiently developed to effectively combat organized crime and drug trafficking and are barely able to conduct air and sea operations. Honduras has been the only country that has maintained a proportional distribution of its armed forces. However, security has been in the hands of a Judicial Police, supervised by the Public Ministry. The Honduran Judicial Police has been limited to exercising preventive police duties, prohibited from carrying out criminal investigations. Nicaragua, meanwhile, possesses a successful police force, socially recognized for maintaining satisfactory levels of security surpassing the Guatemalan and El Salvadoran police, which have not achieved similar results despite of having set up a civilian police force separate from the military. El Salvador meanwhile, has excelled in promoting a Police Academy and career professional education, even while not having military attachés in other countries. Regarding budgetary issues, the four countries allocate almost twice the amount of funding on their security budgets in comparison to what is allocated to their defense budgets. However, spending in both areas is low when taking into account each country's GDP as well as their high crime rates. Regional security challenges must be accompanied by a professionalization of the regional armies focused on protecting and defending borders. Therefore, strong institutional frameworks to support the fight against crime and drug trafficking are required. It will require the strengthening of customs, greater control of illicit arms trafficking, investment in education initiatives, creating employment opportunities and facilitating significant improvements in the judicial system, as well as its accessibility to the average citizen.

Latin America: Nuclear Capabilities, Intentions and Threat Perceptions

Three key states are relevant in considering future nuclear proliferation in Latin America: Argentina, Brazil, and Venezuela. Argentina and Brazil are critical because of their relatively advanced nuclear capabilities. For historical and geopolitical reasons, neither Argentina nor Brazil is likely to reactive nuclear weapons programs. Venezuela’s President, Hugo Chávez, has repeatedly demonstrated interest in developing a nuclear program, yet Venezuela lacks any serious nuclear expertise. Even if it had the managerial and technological capacity, the lead-time to develop an indigenous nuclear program would be measured in decades. Acquisition of nuclear technology from international sources would be difficult because members of the Nuclear Suppliers Group would insist on safeguards, and potential non-Nuclear Suppliers Group (NSG) suppliers are highly surveilled, risking the exposure of such a program before Venezuela could put a deterrent into place. While South American states have historically opposed nuclear weapons, their acquisition by Brazil and Argentina would lead to little more than diplomatic condemnation. Brazil and Argentina are both geopolitically satisfied powers that are deeply embedded in a regional security community. On the other hand, Venezuela under President Chávez is perceived as a revisionist power seeking a transformation of the international system. Venezuelan acquisition of nuclear weapons would be met with alarm by the United States and Colombia, and it would prompt nuclear weapons development by Brazil and possibly Argentina, more for reasons of preserving regional leadership and prestige than for fear of a Venezuelan threat.

Hospitality IT: What Does the Future Hold?

The impact of information technology (IT) is far-reaching and driving dramatic shifts in business paradigms. Trends suggest greater adoption of IT will continue and develop at accelerating rates. Hence, hotel operators and executives must learn how to embrace IT and capitalize on the many capabilities it has to offer while minimizing the threats. The authors attempt to provide a sense of focus and a roadmap to help hoteliers understand the issues, see the future, and find an appropriate on ramp to the information superhighway.

South American Defense Council: What it Means for Regional Security?

The South American Defense Council (CSD), created in March 2009 as a military coordinating body of the Union of South American Nations (UNASUR) demonstrates a growing trend among Latin American countries to approach matters of regional security independent of the United States. The CSD also indicates a maturation of democratic civil military relations in a region once dominated by authoritarian military regimes. The CSD aims to facilitate the exchange of information about regional defense policies, promote collaboration for disaster relief, and promote civil-military engagement. In less than a year it is hardly a tested entity, but the presence of 12 South American states coming together around security policy marks an important moment in the evolution of civil-military relations in the region. Brazil has taken on an important leadership role in the CSD, acting as a leader in recent regional peacekeeping efforts. As a geopolitical move, Brazil also sees a benefit in promoting good relationships with all countries of South america, given its common border with nine of them. Although the United States is not a member of the CSD, the organization's agenda of infromation exchange of defense policies, military cooperation, and capacity building, including disaster assistance and preparedness provide opportunities for greater collaboration. The CSD is not part of the Inter-American System created after the Second World War. It is unclear how its work will coincide with the OAS Committee on Hemispheric Security or its Secretariat for Multidimensional Security. The U.S. should view the CSD as a mechanism to promote joint initiatives that encourage democratic governance in the region.

Advanced Placement and American education: A Foucauldian analysis of the Advanced Placement Program of the college board

Advanced Placement is a series of courses and tests designed to determine mastery over introductory college material. It has become part of the American educational system. The changing conception of AP was examined using critical theory to determine what led to a view of continual success. The study utilized David Armstrong's variation of Michel Foucault's critical theory to construct an analytical framework. Black and Ubbes' data gathering techniques and Braun and Clark's data analysis were utilized as the analytical framework. Data included 1135 documents: 641 journal articles, 421 newspaper articles and 82 government documents. ^ The study revealed three historical ruptures correlated to three themes containing subthemes. The first rupture was the Sputnik launch in 1958. Its correlated theme was AP leading to school reform with subthemes of AP as reform for able students and AP's gaining of acceptance from secondary schools and higher education. The second rupture was the Nation at Risk report published in 1983. Its correlated theme was AP's shift in emphasis from the exam to the course with the subthemes of AP as a course, a shift in AP's target population, using AP courses to promote equity, and AP courses modifying curricula. The passage of the No Child Left Behind Act of 2001 was the third rupture. Its correlated theme was AP as a means to narrow the achievement gap with the subthemes of AP as a college preparatory program and the shifting of AP to an open access program. ^ The themes revealed a perception that progressively integrated the program into American education. The AP program changed emphasis from tests to curriculum, and is seen as the nation's premier academic program to promote reform and prepare students for college. It has become a major source of income for the College Board. In effect, AP has become an agent of privatization, spurring other private entities into competition for government funding. The change and growth of the program over the past 57 years resulted in a deep integration into American education. As such the program remains an intrinsic part of the system and continues to evolve within American education. ^

Dynamic job quoting system for printed circuit board fabrication

This research deals with the development of a dynamic job quotation system for printed circuit board (PCB) fabrication, which can estimate the price and completion time of a job based on customer preference and current capacity of the shop floor. The primary purpose of building a dynamic quotation system is to maximize the company's profit by quoting optimum lead-time and competitive price for the day-to-day orders received from different customers and original equipment manufacturers. The system was developed using MS-Access relational database. Evaluating the output of the system it was observed that the dynamic system provided more reliable estimation of the lead-time needed for fabricating new jobs. The overall price quoted by the system was competitive with higher profit margin when compared to traditional static systems. This system would therefore provide a vital link between the job quoting and scheduling system of the firm enabling better utilization of the available resources.

Advanced Placement and American Education: A Foucauldian Analysis of the Advanced Placement Program of the College Board

Advanced Placement is a series of courses and tests designed to determine mastery over introductory college material. It has become part of the American educational system. The changing conception of AP was examined using critical theory to determine what led to a view of continual success. The study utilized David Armstrong’s variation of Michel Foucault’s critical theory to construct an analytical framework. Black and Ubbes’ data gathering techniques and Braun and Clark’s data analysis were utilized as the analytical framework. Data included 1135 documents: 641 journal articles, 421 newspaper articles and 82 government documents. The study revealed three historical ruptures correlated to three themes containing subthemes. The first rupture was the Sputnik launch in 1958. Its correlated theme was AP leading to school reform with subthemes of AP as reform for able students and AP’s gaining of acceptance from secondary schools and higher education. The second rupture was the Nation at Risk report published in 1983. Its correlated theme was AP’s shift in emphasis from the exam to the course with the subthemes of AP as a course, a shift in AP’s target population, using AP courses to promote equity, and AP courses modifying curricula. The passage of the No Child Left Behind Act of 2001 was the third rupture. Its correlated theme was AP as a means to narrow the achievement gap with the subthemes of AP as a college preparatory program and the shifting of AP to an open access program. The themes revealed a perception that progressively integrated the program into American education. The AP program changed emphasis from tests to curriculum, and is seen as the nation’s premier academic program to promote reform and prepare students for college. It has become a major source of income for the College Board. In effect, AP has become an agent of privatization, spurring other private entities into competition for government funding. The change and growth of the program over the past 57 years resulted in a deep integration into American education. As such the program remains an intrinsic part of the system and continues to evolve within American education.