Invisible ties : implicit contracting and its implications for the agency relationship in corporate governance research

Research that applies agency theory to boards of directors suffers from being quite narrow as it does not recognize the true legal relationships between directors, managers and shareholders. Instead, the board of directors is best conceptualized as the principal, management as agents and stockholders’ relationships as a mix of legal and implicit contracts. We propose a recast agency relationship and develop a contingency approach that proposes (1) how a corporation’s goals vary with a board’s implicit contracting and (2) a reconceptualization of the agency problem facing boards.

Mediated politics in Australia : towards a qualitative evaluation

The debate about the democratic significance of these trends—a more aggressively inquisitorial media environment, greater public participation in political communication, a more accessible and transparent (at least in appearance) political class—continues, not least in Australia. This essay was written in the first half of 2013, a time of extreme political volatility in Australia, and in the run-up to a general election following three years of minority Labor government. By that stage in the political cycle, Prime Minister Julia Gillard had survived not one but two attempts at leadership “spills”, ministers had resigned or been sacked for disloyalty to the leader, major policy initiatives had been dumped, reversed or quietly dropped, and a Coalition opposition was confidently looking forward to a landslide majority in the election of September that year. Labor’s internal party turmoil, rather than the Coalition’s policy prospectus (which remained sketchy and vague right up to the eve of the election), were widely assumed to be the cause of the former’s poor standing in the opinion polls.

Enterprise Business Technology Governance: Three Competencies to Build Board Digital Leadership Capability.

The competent leadership of digital transformation needs to involve the board of directors. The reported lack of such capability in boards is becoming a pressing issue. A part of leadership in such transformation is the board of director’s competence to lead Enterprise Business Technology Governance (EBTG). In this paper we take the position that EBTG competencies are essential in boards, because competent EBTG has been shown to contribute to increased revenue, profit, and returns. We update and expand on the results of a multi-method approach to the development of a set of three board of director competencies needed for effective EBTG.

Unpacking director financial literacy : a Delphi study from Australia

The ‘Centro case’ confirmed that each individual director is responsible for financial governance and must be able to ‘read and understand’ financial statements. Despite the centrality of director financial literacy to directors duties, practitioner and academic literature have failed to clearly define or provide evidence-based reliable measures of director financial literacy. This paper seeks to address this weakness by presenting the initial results of a Delphi study on unpacking the conceptualisation of director financial literacy. We have found that director financial literacy involves more than reading and understanding financial statements. Rather, it encompasses capabilities in applying accounting concepts to the analysis and evaluation of financial statements. As such director financial literacy may be more accurately described as ‘director accounting literacy’.

Rethinking board composition: Balancing competence and compatibility in director selection

Board composition is critical to board effectiveness. Shaping an effective board begins with the selection of directors. While much attention has been paid to the skills and qualifications directors require, there has been less focus on the necessity for board members to interact and work well together. This exploratory study offers insights into what qualities directors look for when selecting new members and the approach adopted to identify and select them. The findings of 10 in-depth interviews with Australian directors suggest new members are selected both on competencies and compatibility. Yet not all selection approaches adequately assess candidates for these two criteria. As a result many appointments fail to realise the selection criteria reducing capacity to reach its full potential.

Unpacking director financial literacy

The social and economic effects of high profile governance scandals such as the National Safety Council, HIH and Centro have triggered much debate, reform and research into predicting and preventing future failures. While this has meant director financial literacy is now recognised as a core capability required of each individual director, there has been little guidance on what this capability involves other than the very general statement of being able to 'read and understand financial statements'. This thesis presents the results of a Delphi study aimed at identifying the core concepts a director needs to master to be financially literate. Thirty-five experts drawn from accounting, education and practice agreed that to be financially literate a director must have a conceptual understanding of 24 basic accounting concepts and be able to independently apply this understanding to a strategic evaluation of the finances of the organisation they serve.

Work in America Institute, Inc. – Bibliography

The Catherwood Library, which serves Cornell's School of Industrial and Labor Relations, houses a complete set of the studies either published by or produced under the auspices of the Work in America Institute, Inc. These volumes were donated to the Catherwood Library by the Institute's Board of Directors through the initiative of Jay W. Waks, ILR '68, who succeeded Mr. Rosow as Chair of the Institute and who, for many years, sat on the Institute's Executive Committee with Mr. Rosow and Thomas R. Donahue, former Secretary-Treasurer and Interim President of the AFL-CIO. Each volume bears a bookplate with this message: "This volume was donated by the Work in America Institute, Inc. in honor of its founder, Jerome M. Rosow, 1919-2002." For additional information or to check on the availability of a document, please contact the Reference Department at 607-255-2277 or email us at ilrref@cornell.edu.

1933-1953 German Jewish Children's Aid

The records of the GJCA relate to the entire range of activities involved in receiving and placing refugee children from 1933 through the 1950s. The later materials are records of the European Jewish Children's Aid. Activities included: maintaining the reception center in New Jersey; transportation arrangements; placement in homes; issuing affidavits and passports; granting scholarships; naturalization of children; setting of GJCA policy. By-laws, minutes, reports, correspondence and certificate of incorporation. Correspondence of executive officers, mainly Cecilia Razovsky, 1930s. Correspondence between William Haber and Lotte Marcuse, 1939-40. File of Dr. Solomon Lowenstein. Minutes of meetings of the Finance Committee. Field reports, inter-office memoranda, financial and statistical reports. Correspondence with organizations and governmental agencies: Society of Friends (Quakers) in Vienna; Israelitische Kultusgemeinde of Vienna; Reichsvereinigung der Juden in Deutschland; Federation for the Support of Jewish Philanthropic Societies; Department of Justice; New York State Department of Social Welfare; U.S. Immigration and Naturalization Service; American Friends Service Committee; American Jewish Congress; B'nai Brith; National Council of Jewish Women. Correspondence with individuals: Max S. Perlman, William Rosenwald, Paul Felix Warburg. In addition to the general administrative records, there are thousands of case files.

Schoolman family papers, undated, 1889-1994

The Schoolman Papers reflect Dr. Albert P. and Mrs. Bertha Schoolmans' staunch dedication to Jewish education, Jewish causes, and Israel. Bertha Schoolman, a lifelong member of Hadassah, assisted thousands of Israeli youth as chairman of the Youth Aliyah Committee. Her diaries, photos, scrapbooks, and correspondence record her numerous visits to Israel on which she helped set up schools, met with Israeli dignitaries, and participated in Zionist Conferences and events. The collection includes a 1936 letter from Hadassah founder, Henrietta Szold, praising Mrs. Schoolman's work as well as a letter from the father of Anne Frank, thanking Mrs. Schoolman for naming a Youth Aliyah center the "Anne Frank Haven" after his later daughter.

Immigrants Mutual Aid Society, Inc. records, undated, 1938-1980.

Contains the papers of the Society founded in 1938 by recent German speaking Jewish immigrants to Boston to assist their initial adjustment to the economic, cultural, spiritual, and social life of the American community and subsequently, to provide mutual assistance to its membership and aid to other immigrants.

Industrial Removal Office records undated, 1899-1922

Contains Board of Directors minutes (1903, 1907), Executive Committee minutes (1907), Removal Committee minutes (1903-1917), Annual Reports (1910, 1913), Monthly Reports (1901-1919), Monthly Bulletins (1914-1915), studies of those removed, Bressler's "The Removal Work, Including Galveston," and several papers relating to the IRO and immigration. Financial papers include a budget (1914), comparative per capita cost figures (1909-1922), audits (1915-1918), receipts and expenditures (1918-1922), investment records, bank balances (1907-1922), removal work cash book (1904-1911), office expenses cash account (1903-1906), and the financial records of other agencies working with the IRO (1906). Includes also removal case records of first the Jewish Agricultural Society (1899-1900), and then of the IRO (1901-1922) when it took over its work, family reunion case records (1901-1904), and the follow-up records of persons removed to various cities (1903-1914). Contains also the correspondence of traveling agents' contacts throughout the U.S. from 1905-1914, among them Stanley Bero, Henry P. Goldstein, Philip Seman, and Morris D. Waldman.

Kirkko, Kekkonen ja kommunismi poliittisina kriisivuosina 1958-1962

This study explores the relationship of the Evangelical Lutheran Church of Finland to communism and political power during the period of crises in Finnish foreign relations with the Soviet Union from 1958 to 1962. During this period the USSR repeatedly interfered in Finland´s domestic affairs and limited her foreign political freedom of action. The research subjects for this dissertation are the bishops of the Church of Finland and the newspaper Kotimaa, which can be regarded as the unofficial organ of the church at the time. A typical characteristic of the Church of Finland from the beginning of the twentieth century was patriotism. During the interwar years the church was strongly anti-communist and against the Soviet Union. This tendency was also evident during the Second World War. After the war the Finnish Church feared that the rise of the extreme left would jeopardize its position. The church, however, succeeded in maintaining its status as a state church throughout the critical years immediately following the war. This study indicates that, although the manner of expression altered, the political attitude of the church did not substantially change during the postwar period. In the late 1950s and early 1960s the church was still patriotic and fear of the extreme left was also evident among the leaders of the church. The victory of the Finnish People's Democratic League in the general election of 1958 was an unwelcome surprise to the church. This generated fear in the church that, with Soviet support, the Finnish communists might return to governmental power and the nation could become a people's democracy. Accordingly, the church tried to encourage other parties to set aside their disagreements and act together against the extreme left throughout the period under study. The main characteristics of the church´s political agenda during this period of crisis were to support the Finnish foreign policy led by the president of the republic, Urho Kekkonen, and to resist Finnish communism. The attitude of Finnish bishops and the newspaper Kotimaa to the Cold War in general was generally in agreement with the majority of western Christians. They feared communism, were afraid of the USSR, but supported peaceful co-existence because they did not want an open conflict with the Soviets. Because of uncertainties in Finland's international position the Finnish Church regarded it as necessary to support the Finnish policy of friendship towards the USSR. The Finnish Church considerer it unwise to openly criticize the Soviet Union, tried resist the spread of communism in Finnish domestic policy. This period of foreign policy crises was principally seen by the church as a time when there was a need to strengthen Finland's unstable national position.

Shari'ah supervision, corporate governance and performance: Conventional vs. Islamic banks

The performance and accountability of boards of directors and effectiveness of governance mechanisms continue to be a matter of concern. Focusing on differences between conventional banks and Islamic banks, we examine the effect of (i) Shari-ah supervision boards, (ii) board structure and (iii) CEO-power on performance during the period 2005-2011. We find Shari'ah supervision boards positively impact on Islamic banks' performance when they perform a supervisory role, but the impact is negligible when they have only an advisory role. The effect of board structure (Board size and board independence) and CEO power (CEO-chair duality and internally recruited CEO) on the performance of Islamic banks is overall negative. Our findings provide support for the positive contribution of Shari'ah supervision boards overall negative. Our findings provide support for the positive contribution of Shari'ah supervision boards overall negative. Our findings provide support for the positive contribution of Shari'ah supervision boards but also emphasize the need for enforcement and regulatory mechanism for them to be more effective.

Kokoomus ja kommunismin uhka. Puolueen antikommunismi vuoden 1929 eduskuntavaalitaistossa.

Tämän Pro gradu -tutkielman tarkoituksena on selventää Kansallisen Kokoomuspuolueen kommunisminvastaisuutta 1920-luvulla, tarkemmin ottaen vuoden 1929 eduskuntavaalikamppailussa. Tutkimuskysymykseni liittyvät puolueen identiteetin ja kommunisminvastaisuuden yhteyteen: miten kokoomuspuolueen suhtautuminen kommunismiin kytkeytyi, yhtäältä, oman porvarillisen poliittis-kansallisen identiteetin puolustamiseen, ja toisaalta, vuonna 1929 vallitseviin poliittisiin oloihin, jolloin muun muassa parlamentaarinen järjestelmä herätti laajaa epäluottamusta, kokoomus ajautui sisäiseen kriisiin ja kommunistien kumoustavoite korostui suomalaisessa julkisuudessa? Etsimällä vastauksia näihin kysymyksiin pyrin selittämään mistä osakokonaisuuksista antikommunismi koostui, miten uhkaa muokattiin ja perusteltiin. Mielestäni tärkeää ja mielenkiintoista on miettiä, kuinka kommunisminvastaisuus ilmeni ikään kuin vastauksena muihin yhteiskunnallis-poliittisiin ongelmiin ja turhautumiin. Tutkimukseni teoreettinen viitekehys perustuu toiseuden ja viholliskuvien tutkimukseen, koska toiseuden merkitys identiteetin kehittymiselle on kiistaton. Tähän liittyvän kirjallisuuden lisäksi olen käyttänyt lähteinäni tutkimuskirjallisuutta, sanomalehtiä ja julkaisemattomia arkistolähteitä. Tutkimukseni aatehistoriallisen luonteen vuoksi ensisijainen alkuperäislähteeni on julkaistu materiaali – vaalijulkaisut ja kokoomuslehdistö – jonka avulla olen pyrkinyt analysoimaan puolueen suhtautumista kommunismiin ja sen vaikutusta puolueen identiteetille. Metodini on historiallis-kvalitatiivinen, joka tarkoittaa sitä, että pyrin samaan aikaan huomioimaan sekä puolueen julkisuuskuvan että sen toiminnan kulisseissa. Tämä edellyttää huomion kohdistamista sekä julkaistuun että julkaisemattomaan lähdeaineistoon. Julkaistuun materiaaliin kohdistuneen analyysin pohjalta on mahdollista päätellä, että kokoomus halusi luoda itsestään kuvan jyrkästi kommunisminvastaisena puolueena. Toiseus-analyysin perusteella voidaan sanoa, että kommunismi oli puolueen selvä toinen. Julkisuuskuva ei kuitenkaan välttämättä vastannut puolueen todellisia käsityksiä kommunismista ja sen pohjalle muodostetusta viholliskuvasta. Antikommunismi ja viholliskuvan vahvistaminen palvelivat myös muita päämääriä, joista merkittävimmät liittyivät katkenneen kokoomuksen yhtenäisyyden pönkittämiseen ja huomion kääntämiseen pois muista vuonna 1929 esiin työntyneistä ongelmista. Kommunismin muodostamaa uhkaa Suomen kansalliselle olemassaololle pyrittiin perustelemaan monelta eri kantilta. Kommunismin nähtiin rapauttavan kristillisen moraalin ja siveellisyyden, lisäävän yhteiskunnallisia levottomuuksia, heikentävän parlamentarismia sekä vaarantavan Suomen sotilaallisen turvallisuuden ja pyhäksi koetun etuvartiotehtävän. Antikommunismi yhdistyi läheisesti myös ideologisen venäläisvastaisuuden ääri-ilmiöön, ryssävihaan. Näihin eri ilmiöihin liittyvä "antikommunistinen diskurssi" oli siis yksi niistä perustoista, jonka päällä kokoomuksen poliittis-kansallinen identiteetti kehittyi 1920-luvun mittaan. Kevätkesän 1929 tuomien, lähes ylitsepääsemättömien vaikeuksien myötä antikommunistisen diskurssin merkitys kasvoi entisestään ja loi pohjan puolueen suhtautumiselle lapualaisvuosiin.