Do board contacts matter? : an analysis of the relationship between boards of directors’ ties and the performance of Australia’s largest companies.

Boards of directors are thought to provide access to a wealth of knowledge and resources for the companies they serve, and are considered important to corporate governance. Under the Resource Based View (RBV) of the firm (Wernerfelt, 1984) boards are viewed as a strategic resource available to firms. As a consequence there has been a significant research effort aimed at establishing a link between board attributes and company performance. In this thesis I explore and extend the study of interlocking directorships (Mizruchi, 1996; Scott 1991a) by examining the links between directors’ opportunity networks and firm performance. Specifically, I use resource dependence theory (Pfeffer & Salancik, 1978) and social capital theory (Burt, 1980b; Coleman, 1988) as the basis for a new measure of a board’s opportunity network. I contend that both directors’ formal company ties and their social ties determine a director’s opportunity network through which they are able to access and mobilise resources for their firms. This approach is based on recent studies that suggest the measurement of interlocks at the director level, rather than at the firm level, may be a more reliable indicator of this phenomenon. This research uses publicly available data drawn from Australia’s top-105 listed companies and their directors in 1999. I employ Social Network Analysis (SNA) (Scott, 1991b) using the UCINET software to analyse the individual director’s formal and social networks. SNA is used to measure a the number of ties a director has to other directors in the top-105 company director network at both one and two degrees of separation, that is, direct ties and indirect (or ‘friend of a friend’) ties. These individual measures of director connectedness are aggregated to produce a board-level network metric for comparison with measures of a firm’s performance using multiple regression analysis. Performance is measured with accounting-based and market-based measures. Findings indicate that better-connected boards are associated with higher market-based company performance (measured by Tobin’s q). However, weaker and mostly unreliable associations were found for accounting-based performance measure ROA. Furthermore, formal (or corporate) network ties are a stronger predictor of market performance than total network ties (comprising social and corporate ties). Similarly, strong ties (connectedness at degree-1) are better predictors of performance than weak ties (connectedness at degree-2). My research makes four contributions to the literature on director interlocks. First, it extends a new way of measuring a board’s opportunity network based on the director rather than the company as the unit of interlock. Second, it establishes evidence of a relationship between market-based measures of firm performance and the connectedness of that firm’s board. Third, it establishes that director’s formal corporate ties matter more to market-based firm performance than their social ties. Fourth, it establishes that director’s strong direct ties are more important to market-based performance than weak ties. The thesis concludes with implications for research and practice, including a more speculative interpretation of these results. In particular, I raise the possibility of reverse causality – that is networked directors seek to join high-performing companies. Thus, the relationship may be a result of symbolic action by companies seeking to increase the legitimacy of their firms rather than a reflection of the social capital available to the companies. This is an important consideration worthy of future investigation.

Experimental warming shows that decomposition temperature sensitivity increases with soil organic matter recalcitrance

Soil C decomposition is sensitive to changes in temperature, and even small increases in temperature may prompt large releases of C from soils. But much of what we know about soil C responses to global change is based on short-term incubation data and model output that implicitly assumes soil C pools are composed of organic matter fractions with uniform temperature sensitivities. In contrast, kinetic theory based on chemical reactions suggests that older, more-resistant C fractions may be more temperature sensitive. Recent research on the subject is inconclusive, indicating that the temperature sensitivity of labile soil organic matter (OM) decomposition could either be greater than, less than, or equivalent to that of resistant soil OM. We incubated soils at constant temperature to deplete them of labile soil OM and then successively assessed the CO2-C efflux in response to warming. We found that the decomposition response to experimental warming early during soil incubation (when more labile C remained) was less than that later when labile C was depleted. These results suggest that the temperature sensitivity of resistant soil OM pools is greater than that for labile soil OM and that global change-driven soil C losses may be greater than previously estimated.

Do Chinese traditional values matter in regulating China’s company directors? Preliminary findings from surveys in Hong Kong

This article argues that Chinese traditional values do matter in Chinese corporate governance. The object is to report on the preliminary findings of a project supported by the General Research Fund in Hong Kong (HK). Thus far the survey results from HK respondents support the authors’ hypothesis. As such, traditional Chinese values should be on the agenda of the next round of company law reforms in China

Do ontological deficiencies in modeling grammars matter?

Conceptual modeling grammars are a fundamental means for specifying information systems requirements. However, the actual usage of these grammars is only poorly understood. In particular, little is known about how properties of these grammars inform usage beliefs such as usefulness and ease of use. In this paper we use an ontological theory to describe conceptual modeling grammars in terms of their ontological deficiencies, and formulate two propositions in regard to how these ontological deficiencies influence primary usage beliefs. Using BPMN as an example modeling grammar, we surveyed 528 modeling practitioners to test the theorized relationships. Our results show that users of conceptual modeling grammars perceive ontological deficiencies to exist, and that these deficiency perceptions are negatively associated with usefulness and ease of use of these grammars. With our research we provide empirical evidence in support of the predictions of the ontological theory of modeling grammar expressiveness, and we identify previously unexplored links between conceptual modeling grammars and grammar usage beliefs. This work implies for practice a much closer coupling of the act of (re ) designing modeling grammars with usage-related success metrics.

Uncertainties that matter : risk, response-ability, ethics and the moment of exchange in Live Art

This article examines the moment of exchange between artist, audience and culture in Live Art. Drawing on historical and contemporary examples, including examples from the Exist in 08 Live Art Event in Brisbane, Australia, in October 2008, it argues that Live Art - be it body art, activist art, site-specific performance, or other sorts of performative intervention in the public sphere - is characterised by a common set of claims about activating audiences, asking them to reflect on cultural norms challenged in the work. Live Art presents risky actions, in a context that blurs the boundaries between art and reality, to position audients as ‘witnesses’ who are personally implicated in, and responsible for, the actions unfolding before them. This article problematises assumptions about the way the uncertainties embedded in the Live Art encounter contribute to its deconstructive agenda. It uses the ethical theory of Emmanuel Levinas, Hans-Thies Lehmann and Dwight Conquergood to examine the mechanics of reductive, culturally-recuperative readings that can limit the efficacy of the Live Art encounter. It argues that, though ‘witnessing’ in Live Art depends on a relation to the real - real people, taking real risks, in real places - if it fails to foreground theatrical frame it is difficult for audients to develop the dual consciousness of the content, and their complicity in that content, that is the starting point for reflexivity, and response-ability, in the ethical encounter.

Introduction : bringing back theory

In a report in the New York Times about a public symposium on the future of theory held at University of Chicago in 2002, staff writer Emily Eakin suggests that theory appears to have taken a back seat to more pressing current affairs – the Bush Administration, Al Qaeda, Iraq. Further, she reports that the symposium’s panel of high-profile theorists and scholars, including Homi Bhabha, Stanley Fish, Fredric Jameson, seemed reticent to offer their views on what is often touted as the demise or irrelevance of theory. The symposium and other commentaries on the topic of theory have prompted the view that the ‘Golden Age of Theory’ has passed and we are now in a ‘Post-Theory Age’. Given these pronouncements, we need to ask – Does theory matter any longer? Is it time for the obituary? Or are reports of the death of theory greatly exaggerated? The question remains whether to mourn or celebrate the demise of theory, and whether the body has in fact breathed its last. The title of this Introduction – ‘Bringing back theory’ – suggests a resurrection, or perhaps a haunting, as if the funeral has passed and, like Banquo’s ghost, theory returns to unsettle or disturb the celebration. It also suggests an entreaty, or perhaps a return performance. Rather than settle on one meaning, one interpretation, we are happy for all possibilities to coexist. The coexistence of different theories, different approaches, different interpretations also reflects the state of literary and cultural studies generally and children’s literature criticism in particular. No single theory or viewpoint predominates or vies for hegemony. Yet, one further question lingers – what is theory?

Does venture opportunity variation matter? Investigating systemic process differences between innovative and imitative new ventures

The central thesis in the article is that the venture creation process is different for innovative versus imitative ventures. This holds up; the pace of the process differs by type of venture as do, in line with theory-based hypotheses, the effects of certain human capital (HC) and social capital (SC) predictors. Importantly, and somewhat unexpectedly, the theoretically derived models using HC, SC, and certain controls are relatively successful explaining progress in the creation process for the minority of innovative ventures, but achieve very limited success for the imitative majority. This may be due to a rationalistic bias in conventional theorizing and suggests that there is need for considerable theoretical development regarding the important phenomenon of new venture creation processes. Another important result is that the building up of instrumental social capital, which we assess comprehensively and as a time variant construct, is important for making progress with both types of ventures, and increasingly, so as the process progresses. This result corroborates with stronger operationalization and more appropriate analysis method what previously published research has only been able to hint at.

Toward a theory of the architectural subject

The extraordinary event, for Deleuze, is the object becoming subject – not in the manner of an abstract formulation, such as the substitution of one ideational representation for another but, rather, in the introduction of a vast, new, impersonal plane of subjectivity, populated by object processes and physical phenomena that in Deleuze’s discovery will be shown to constitute their own subjectivities. Deleuze’s polemic of subjectivity (the refusal of the Cartesian subject and the transcendental ego of Husserl) – long attempted by other thinkers – is unique precisely because it heralds the dawning of a new species of objecthood that will qualify as its own peculiar subjectivity. A survey of Deleuze’s early work on subjectivity, Empirisme et subjectivité (Deleuze 1953), Le Bergsonisme (Deleuze 1968), and Logique du sens (Deleuze 1969), brings the architectural reader into a peculiar confrontation with what Deleuze calls the ‘new transcendental field’, the field of subjectproducing effects, which for the philosopher takes the place of both the classical and modern subject. Deleuze’s theory of consciousness and perception is premised on the critique of Husserlian phenomenology; and ipso facto his question is an architectural problematic, even if the name ‘architecture’ is not invoked...

Which cultural values matter to business process management? Results from a global Delphi study

Purpose – Business process management (BPM) requires a holistic perspective that includes managing the culture of an organization to achieve objectives of efficient and effective business processes. Still, the specifics of a BPM-supportive organizational culture have not been examined so far. Thus, the purpose of this paper is to identify the characteristics of a cultural setting supportive of BPM objectives. Design/methodology/approach – The paper examines the constituent values of a BPM-supportive cultural setting through a global Delphi study with BPM experts from academia and practice and explore these values in a cultural value framework. Findings – The paper empirically identifies and defines four key cultural values supporting BPM, viz., customer orientation, excellence, responsibility, and teamwork. The paper discusses the relationships between these values and identifies a particular challenge in managing these seemingly competing values. Research limitations/implications – The identification and definition of these values represents a first step towards the operationalization (and empirical analysis) of what has been identified as the concept of BPM culture, i.e. a culture supportive of achieving BPM objectives. Practical implications – Identifying these cultural values provides the basis for developing an instrument that can measure how far an existing cultural context is supportive of BPM. This, in turn, is fundamental for identifying measures towards achieving a BPM culture as a necessary, yet not sufficient means to obtain BPM success. Originality/value – The paper examines which cultural values create an environment receptive for BPM and, thus, specifies the important theoretical construct BPM culture. In addition, the paper raises awareness for realizing these values in a BPM context.

Adsorption of carbon dioxide and nitrogen on single-layer aluminum nitride nanostructures studied by density functional theory

The adsorption of carbon dioxide and nitrogen molecules on aluminum nitride (AlN) nanostructures has been explored using first-principle computational methods. Optimized configurations corresponding to physisorption and, subsequentially, chemisorption of CO2 are identified, in contrast to N2, for which only a physisorption structure is found. Transition-state searches imply a low energy barrier between the physisorption and chemisorption states for CO2 such that the latter is accessible and thermodynamically favored at room temperature. The effective binding energy of the optimized chemisorption structure is apparently larger than those for other CO2 adsorptive materials, suggesting the potential for application of aluminum nitride nanostructures for carbon dioxide capture and storage.

Does it matter whether friends, parents, or peers drink walk? Identifying which normative influences predict young pedestrian's decisions to walk while intoxicated

Drink walking, that is walking in a public place while intoxicated, is associated with increased risk of injury and fatality. Young people and males are especially prone to engaging in this behaviour, yet little is known about the factors associated with individual’s decisions to drink walk. The present research explores the role of different normative influences (friendship group norm, parent group norm, university peer group norm) and perceived risk, within an extended theory of planned behaviour (TPB) framework, in predicting young people’s self-reported drink walking intentions. One hundred and eighteen young people (aged 17-25 years) completed a survey including sociodemographic measures and extended TPB measures related to drink walking. Overall the extended TPB explained 72.8% of the variance in young people’s intentions to drink walk in the next six months with attitude, perceived behavioural control, friendship group norm, and gender (male) emerging as significant predictors. Males, as compared with females, had higher intentions to drink walk and lower perceptions of risk regarding drink walking. Together, these findings provide a clearer indication of the salient normative influences and gender differences in young pedestrian’s decisions to walk while intoxicated. Such findings can be used to inform future interventions designed to reduce injuries and fatalities associated with drink walking.

Does Venture Opportunity Variation Matter? Investigating Systematic Process Differences Between Innovative and Imitative New Ventures

The central thesis in the article is that the venture creation process is different for innovative versus imitative ventures. This holds up; the pace of the process differs by type of venture as do, in line with theory-based hypotheses, the effects of certain human capital (HC) and social capital (SC) predictors. Importantly, and somewhat unexpectedly, the theoretically derived models using HC, SC, and certain controls are relatively successful explaining progress in the creation process for the minority of innovative ventures, but achieve very limited success for the imitative majority. This may be due to a rationalistic bias in conventional theorizing and suggests that there is need for considerable theoretical development regarding the important phenomenon of new venture creation processes. Another important result is that the building up of instrumental social capital, which we assess comprehensively and as a time variant construct, is important for making progress with both types of ventures, and increasingly, so as the process progresses. This result corroborates with stronger operationalization and more appropriate analysis method what previously published research has only been able to hint at.

A stochastic thermostat algorithm for coarse-grained thermomechanical modeling of large-scale soft matters : theory and application to microfilaments

As all-atom molecular dynamics method is limited by its enormous computational cost, various coarse-grained strategies have been developed to extend the length scale of soft matters in the modeling of mechanical behaviors. However, the classical thermostat algorithm in highly coarse-grained molecular dynamics method would underestimate the thermodynamic behaviors of soft matters (e.g. microfilaments in cells), which can weaken the ability of materials to overcome local energy traps in granular modeling. Based on all-atom molecular dynamics modeling of microfilament fragments (G-actin clusters), a new stochastic thermostat algorithm is developed to retain the representation of thermodynamic properties of microfilaments at extra coarse-grained level. The accuracy of this stochastic thermostat algorithm is validated by all-atom MD simulation. This new stochastic thermostat algorithm provides an efficient way to investigate the thermomechanical properties of large-scale soft matters.

Undulating matter : a topology of the studio

With specific reference to the writing of Dan Graham and the experiences of creative practice, this paper will elaborate an account of studio practice as a topology - a theory drawn from mathematics in which space is understood not as a static field but in terms of properties of connectedness, movement and differentiation. This paper will trace a brief sequence of topological formulations to draw together the expression of topology as form and its structural dimension as a methodology in the specific context of the author’s studio practice. In so doing, this paper seeks to expand the notion of topology in art beyond its association with Conceptual Art of the 1960s and 70s to propose that topology provides a dynamic theoretical model for apprehending the generative ‘logic’ that gives direction and continuity to the art-making process.