State ownership and corporate governance

State ownership of publicly-traded corporations remains pervasive around the world, and has been increasing in recent years. Existing literature focuses on the implications of government ownership for corporate governance and performance at the firm level. This Article, by contrast, explores the different but equally important question of whether the presence of the state as a shareholder can impose negative externalities on the corporate law regime available to the private sector. Drawing from historical experiments with government ownership in the United States, Brazil, China, and Europe, this study shows that the conflict of interest stemming from the state’s dual role as a shareholder and regulator can influence the content of corporate laws to the detriment of outside investor protection and efficiency. It thus addresses a gap in the literature on the political economy of corporate governance by incorporating the political role of the state as shareholder as another mechanism to explain the relationship between corporate ownership structures and legal investor protection. Finally, this Article explores the promise of different institutional arrangements to constrain the impact of the state’s interests as a shareholder on the corporate governance environment, and concludes by offering several policy recommendations.

Treaty provisions relating to the rights of inheritance, acquisitions, and ownership of property in force between the United States and other countries /

Mode of access: Internet.

"The land is mine" : from tenancy to family farm ownership /

Includes bibliographical references and index.

Psychological ownership: Towards a theoretical and empirical understanding of causes and consequences

In much the same way we consider our house or car 'mine', we may also consider facets of employment as a possession. Psychological ownership is the state ascribed to such feelings of possession in the absence of any formal or legal claims of ownership. In the present context, the target of such feelings of ownership is directed towards the employing organisation, or individual employee's specific job. TJie aim of this research is to extend previous propositions of ownership feelings to encompass related work attitudes and behavioural outcomes of psychological ownership in an organisational context. As a result, a theory of psychological ownership in organisations is presented encompassing antecedents, consequences, and the related work attitudes of job satisfaction and organisational commitment. Questionnaire data from 68 employees and their managers was used to test hypotheses derived from the proposed theory. Results revealed that psychological ownership predicted the work attitudes of job satisfaction and organisational commitment, and mediated the relationship between autonomy and these work attitudes. Both organisation- based and job-based psychological ownership were found to be distinct work attitudes, distinguishable from job satisfaction and organisational commitment. There was no support, however, for a direct or mediated relationship between psychological ownership and behavioural outcomes, including in-role behaviour, and helping and voice extra-role behaviours. These findings have considerable theoretical and empirical implications for the field of psychological ownership, and offer support for psychological ownership as a real and important work attitude.

How does ownership structure affect capital structure and firm value?:Recent evidence from East Asia

The present paper examines the effects of ownership structures on capital structure and firm valuation. It argues that the effects of separation of control from cash flow rights on capital structure and firm value also depend on the separation of control from management as well as on legal rules and enforcement defining investors' protection. We obtain firm-level panel data (three stage least squares, 3SLS) estimates from four of the East Asian countries worst affected by the last crisis. There is evidence that the general wisdom that higher control than cash flow rights may lower firm value may be reversed among owner-managed family firms in the sample countries. © 2007 The Authors Journal compilation © 2007 The European Bank for Reconstruction and Development.

Ownership structure and investment finance in transition economies:a survey of evidence from large firms in Hungary and Poland

Using survey data on 157 large private Hungarian and Polish companies this paper investigates links between ownership structures and CEOs’ expectations with regard to sources of finance for investment. The Bayesian estimation is used to deal with the small sample restrictions, while classical methods provide robustness checks. We found a hump-shaped relationship between ownership concentration and expectations of relying on public equity. The latter is most likely for firms where the largest investor owns between 25 percent and 49 percent of shares, just below the legal control threshold. More profitable firms rely on retained earnings for their investment finance, consistent with the ‘pecking order’ theory of financing. Finally, firms for which the largest shareholder is a domestic institutional investor are more likely to borrow from domestic banks.

A utilização de imagens na identificação humana em odontologia legal

Este artigo de revisão sistemática tem por objetivo citar os métodos de identificação humana por meio da radiologia, utilizados em odontologia legal. Para isso, realizou-se revisão de literatura com 19 trabalhos selecionados dentre 45 encontrados, após aplicação de critérios de inclusão. Há diversas técnicas radiológicas que podem ser utilizadas para auxiliar na identificação humana, tanto individual como geral, incluindo a determinação do gênero, do grupo étnico e, principalmente, da idade. A análise de radiografias e tomografias ante-mortem e post-mortem tornou-se uma ferramenta fundamental nos processos de identificação em odontologia legal, principalmente com o refinamento das técnicas adquiridas com o avanço da própria radio-logia e com a incorporação da informática. Conclui-se que a partir do conhecimento adequado dos métodos disponíveis, o profissional em odontologia legal pode optar pelo método que melhor preencha as características necessárias para o sucesso da identificação, tendo cuidado na aplicação correta da técnica e na interpretação precisa das informações obtidas.

Genotoxic potential generated by biomass burning in the Brazilian Legal Amazon by Tradescantia micronucleus bioassay: a toxicity assessment study

Background: The Brazilian Amazon has suffered impacts from non-sustainable economic development, especially owing to the expansion of agricultural commodities into forest areas. The Tangara da Serra region, located in the southern of the Legal Amazon, is characterized by non-mechanized sugar cane production. In addition, it lies on the dispersion path of the pollution plume generated by biomass burning. The aim of this study was to assess the genotoxic potential of the atmosphere in the Tangara da Serra region, using Tradescantia pallida as in situ bioindicator. Methods: The study was conducted during the dry and rainy seasons, where the plants were exposed to two types of exposure, active and passive. Results: The results showed that in all the sampling seasons, irrespective of exposure type, there was an increase in micronucleus frequency, compared to control and that it was statistically significant in the dry season. A strong and significant relationship was also observed between the increase in micronucleus incidence and the rise in fine particulate matter, and hospital morbidity from respiratory diseases in children. Conclusions: Based on the results, we demonstrated that pollutants generated by biomass burning in the Brazilian Amazon can induce genetic damage in test plants that was more prominent during dry season, and correlated with the level of particulates and elevated respiratory morbidity.

The politics and ethics of relocated art

At the end of Word War II, Soviet occupation forces removed countless art objects from German soil. Some of them were returned during the 1950s, but most either disappeared for good or were stored away secretly in cellars of Soviet museums. The Cold War then covered the issue with silence. After the collapse of the Soviet Union, museums in St Petersburg and Moscow started to exhibit some of the relocated art for the first time in half a century. The unusual quality of the paintings-mostly impressionist masterpieces-not only attracted the attention of the international art community, but also triggered a diplomatic row between Russia and Germany. Both governments advanced moral and legal claims to ownership. To make things even more complicated, many of the paintings once belonged to private collectors, some of whom were Jews. Their descendants also entered the dispute. The basic premise of this article is that the political and ethical dimensions of relocated art can be understood most adequately by eschewing a single authorial standpoint. Various positions, sometimes incommensurable ones, are thus explored in an attempt to outline possibilities for an ethics of representation and a dialogical solution to the international problem that relocated art has become.

Family Business: how family and ownership shapes business professionalization

This article`s main purpose consists in showing how family and ownership cultures may influence the process of making a ""well-performing"" organization, based on an empirical study in family business in Brazil. The study aimed to find critical moments of company`s history and the focus was to compare critical moments with the three-dimension model of family business development proposed by Davis et al. (1996). Through facts sequence, research was organized so as to find how the process influenced company`s professionalization. The article concludes that family and its value and culture may impact on the evolution, and the first step to organize a company is to organize the family that leads the company.

BRAZILIAN CENSUS SOURCES AND OWNERSHIP OF SLAVES IN THE 1870S

There exists a significant group of sources of a census nature for the study of slavery in the 1870s. These sources derive mainly from the registration of slaves that was established by the Law of the Free Womb of 1871. In this article, we discuss the different ways of presenting registration information. We analyze a sample of the registered slave population, including 69 towns from different parts of the country that total a little over 112,000 slaves and 25, 000 slave holders. In addition to characterizing the demographic profile of the slaves that make up the sample, we verify the ownership of slaves.