The regional focus of Asian multinational enterprises

In recent issues of this Journal a debate has raged concerning the appropriate nature of academic research in the Asia Pacific region. While we support the desire for both rigor and regional relevance in this research, we wish to demonstrate a strong commonality between the performance of large Asian firms and others from Europe and North America. This prompts us to question the need for a new theory of the MNE based on the experience of Asian firms. Like their counterparts elsewhere, the large Asian firms mostly operate on an intra-regional basis. While in the literature it has been assumed that the path to success for Asian firms is globalization, we show that the data supporting this is confined to a handful of unrepresentative case studies. We also present a bibliometric analysis which shows an overwhelming case study sample selection bias in academic studies towards this small number of unrepresentative cases

Developing “Best Practices” for bankers’ pay in line with Basel III

This paper proposes hybrid capital securities as a significant part of senior bank executive incentive compensation in light of Basel III, a new global regulatory standard on bank capital adequacy and liquidity agreed by the members of the Basel Committee on Banking Supervision. The committee developed Basel III in a response to the deficiencies in financial regulation brought about by the global financial crisis. Basel III strengthens bank capital requirements and introduces new regulatory requirements on bank liquidity and bank leverage. The hybrid bank capital securities we propose for bank executives’ compensation are preferred shares and subordinated debt that the June 2004 Basel II regulatory framework recognised as other admissible forms of capital. The past two decades have witnessed dramatic increase in performance-related pay in the banking industry. Stakeholders such as shareholders, debtholders and regulators criticise traditional cash and equity-based compensation for encouraging bank executives’ excessive risk taking and short-termism, which has resulted in the failure of risk management in high profile banks during the global financial crisis. Paying compensation in the form of hybrid bank capital securities may align the interests of executives with those of stakeholders and help banks regain their reputation for prudence after years of aggressive risk-taking. Additionally, banks are desperately seeking to raise capital in order to bolster balance sheets damaged by the ongoing credit crisis. Tapping their own senior employees with large incentive compensation packages may be a viable additional source of capital that is politically acceptable in times of large-scale bailouts of the financial sector and economically wise as it aligns the interests of the executives with the need for a stable financial system.

Landscape, regional and global estimates of nitrogen flux from land to sea: errors and uncertainties

Regional to global scale modelling of N flux from land to ocean has progressed to date through the development of simple empirical models representing bulk N flux rates from large watersheds, regions, or continents on the basis of a limited selection of model parameters. Watershed scale N flux modelling has developed a range of physically-based approaches ranging from models where N flux rates are predicted through a physical representation of the processes involved, through to catchment scale models which provide a simplified representation of true systems behaviour. Generally, these watershed scale models describe within their structure the dominant process controls on N flux at the catchment or watershed scale, and take into account variations in the extent to which these processes control N flux rates as a function of landscape sensitivity to N cycling and export. This paper addresses the nature of the errors and uncertainties inherent in existing regional to global scale models, and the nature of error propagation associated with upscaling from small catchment to regional scale through a suite of spatial aggregation and conceptual lumping experiments conducted on a validated watershed scale model, the export coefficient model. Results from the analysis support the findings of other researchers developing macroscale models in allied research fields. Conclusions from the study confirm that reliable and accurate regional scale N flux modelling needs to take account of the heterogeneity of landscapes and the impact that this has on N cycling processes within homogenous landscape units.

Haplotype analysis of vernalization loci in European barley germplasm reveals novel VRN-H1 alleles and a predominant winter VRN-H1/VRN-H2 multi-locus haplotype

In barley, variation in the requirement for vernalization (an extended period of low temperature before flowering can occur) is determined by the VRN-H1, -H2 and -H3 loci. In European cultivated germplasm, most variation in vernalization requirement is accounted for by alleles at VRN-H1 and VRN-H2 only, but the range of allelic variation is largely unexplored. Here we characterise VRN-H1 and VRN-H2 haplotypes in 429 varieties representing a large portion of the acreage sown to barley in Western Europe over the last 60 years. Analysis of genotype, intron I sequencing data and growth habit tests identified three novel VRN-H1 alleles and determined the most frequent VRN-H1 intron I rearrangements. Combined analysis of VRN-H1 and VRN-H2 alleles resulted in the classification of seventeen VRN-H1/VRN-H2 multi-locus haplotypes, three of which account for 79% of varieties. The molecular markers employed here represent powerful diagnostic tools for prediction of growth habit and assessment of varietal purity. These markers will also allow development of germplasm to test the behaviour of individual alleles with the aim of understanding the relationship between allelic variation and adaptation to specific agri-environments.

Proctolaelaps euserratus, an ecologically unusual melicharid mite (Acari, Mesostigmata) associated with animal and human decomposition.

Proctolaelaps euserratus Karg, 1994 (Acari, Mesostigmata, Melicharidae), exclusivelly known from the Galápagos Islands till now, is newly reported from decaying matter of animal and human decomposition in various countries of Europe (Slovakia, Spain, United Kingdom). In consequence of high levels of necrophilia, the species is considered to be ecologically unusual among the other melicharids, which are primary associated with other than necrophilic habitats, such as galleries of subcorticolous beetles, bumble bee nests, flowers, etc. Proctolaelaps euserratus is reviewed, morphologically re-described (with first diagnostic characters for males), and considered as a new potential marker for later stages of decomposition, namely butyric fermentation and dry decomposition as classified in modern concepts of forensic acarology.

Educational simulation in construction: the virtual construction simulator

Students in the architecture, engineering, and construction disciplines are often challenged with visualizing and understanding the complex spatial and temporal relationships involved in designing and constructing three-dimensional (3D) structures. An evolving body of research traces the use of educational computer simulations to enhance student learning experiences through testing real-world scenarios and the development of student decision-making skills. Ongoing research at Pennsylvania State University aims to improve engineering education in construction through interactive construction project learning applications in an immersive virtual reality environment. This paper describes the first- and second-generation development of the Virtual Construction Simulator (VCS), a tool that enables students to simultaneously create and review construction schedules through 3D model interaction. The educational value and utility of VCS was assessed through surveys, focus group interviews, and a student exercise conducted in a construction management class. Results revealed VCS is a valuable and effective four-dimensional (4D) model creation and schedule review application that fosters collaborative work and greater student task focus. This paper concludes with a discussion of the findings and the future development steps of the VCS educational simulation

Proactive R&D management and firm growth: a punctuated equilibrium model

The external environment is characterized by periods of relative stability interspersed with periods of extreme change, implying that high performing firms must practice exploration and exploitation in order to survive and thrive. In this paper, we posit that R&D expenditure volatility indicates the presence of proactive R&D management, and is evidence of a firm moving from exploitation to exploration over time. This is consistent with a punctuated equilibrium model of R&D investment where shocks are induced by reactions to external turbulence. Using an unbalanced panel of almost 11,000 firm-years from 1997 to 2006, we show that greater fluctuations in the firm's R&D expenditure over time are associated with higher firm growth. Developing a contextual view of the relationship between R&D expenditure volatility and firm growth, we find that this relationship is weaker among firms with higher levels of corporate diversification and negative among smaller firms and those in slow clockspeed industries.

Demand response from the non-domestic sector: early UK experiences and future opportunities

Demand response is believed by some to become a major contributor towards system balancing in future electricity networks. Shifting or reducing demand at critical moments can reduce the need for generation capacity, help with the integration of renewables, support more efficient system operation and thereby potentially lead to cost and carbon reductions for the entire energy system. In this paper we review the nature of the response resource of consumers from different non-domestic sectors in the UK, based on extensive half hourly demand profiles and observed demand responses. We further explore the potential to increase the demand response capacity through changes in the regulatory and market environment. The analysis suggests that present demand response measures tend to stimulate stand-by generation capacity in preference to load shifting and we propose that extended response times may favour load based demand response, especially in sectors with significant thermal loads.

Power transfer in velocity-vortex acceleration

A theoretical model is presented of an electron acceleration-as-oscillator method derived from the work of Joseph Larmor unified with J. Clerk Maxwell’s theory of vorticity for the displacement of radiation into free-space at an antenna interface.

Globalization and new policy concerns: the WTO and the EU's sustainability criteria for biofuels

The transfer of some decision-making authority from the domestic to the supranational arena as a result of the establishment of the World Trade Organization (WTO) in 1995 potentially changed domestic policy dynamics. The WTO agreements reflect the trade policy concerns addressed in the Uruguay Round in the late 1980s and early 1990s. This article applies and adapts historical institutionalism to explain how international organizations may constrain and facilitate certain domestic policy options. It demonstrates that, while the WTO legal framework has become more receptive of environmental sustainability concerns, the social sustainability concerns that were increasingly entering the debate over biofuel policies were not easily accommodated, and this was seen as a constraint on the content of the European Union’s (EU) policy adopted in 2009. Only the environmental dimension of a broader concept of sustainability was included in the policy design.

Stratospheric dynamics and midlatitude jets under geoengineering with space mirrors and sulfate and titania aerosols

The impact on the dynamics of the stratosphere of three approaches to geoengineering by solar radiation management is investigated using idealized simulations of a global climate model. The approaches are geoengineering with sulfate aerosols, titania aerosols, and reduction in total solar irradiance (representing mirrors placed in space). If it were possible to use stratospheric aerosols to counterbalance the surface warming produced by a quadrupling of atmospheric carbon dioxide concentrations, tropical lower stratospheric radiative heating would drive a thermal wind response which would intensify the stratospheric polar vortices. In the Northern Hemisphere this intensification results in strong dynamical cooling of the polar stratosphere. Northern Hemisphere stratospheric sudden warming events become rare (one and two in 65 years for sulfate and titania, respectively). The intensification of the polar vortices results in a poleward shift of the tropospheric midlatitude jets in winter. The aerosol radiative heating enhances the tropical upwelling in the lower stratosphere, influencing the strength of the Brewer-Dobson circulation. In contrast, solar dimming does not produce heating of the tropical lower stratosphere, and so there is little intensification of the polar vortex and no enhanced tropical upwelling. The dynamical response to titania aerosol is qualitatively similar to the response to sulfate.

A rare structure at the syntax-discourse interface: heritage and Spanish-dominant native speakers weigh in

The present study examines knowledge of the discourse-appropriateness of Clitic Right Dislocation (CLRD) in a population of Heritage (HS) and Spanish-dominant Native Speakers in order to test the predictions of the Interface Hypothesis (IH; Sorace 2011). The IH predicts that speakers in language contact situations will experience difficulties with integrating information involving the interface of syntax and discourse modules. CLRD relates a dislocated constituent to a discourse antecedent, requiring integration of syntax and pragmatics. Results from an acceptability judgment task did not support the predictions of the IH. No statistical differences between the HSs’ performance and that of L1-dominant native speakers were evidenced when participants were presented with an offline task. Thus, our study did not find any evidence of “incomplete acquisition” (Montrul 2008) as it pertains to this specific linguistic structure.

Varieties of parliamentarianism

From the start of the English civil war, the parliamentarians were a fragmented coalition, held together by distrust of the king and a belief that Parliament was entitled to lead action to remedy his government’s deficiencies. The driving motivations of parliamentarians were various, including the religious commitments of puritanism, legalistic thought about the ancient constitution, and more radical notions of republicanism or natural rights. Historians have disputed whether parliamentarianism had an inherent strand of radicalism – or radical potential – from the early 1640s, but radicalization certainly took place as the civil wars went on, alongside more ‘conservative’ reactions against the propaganda and wartime measures employed by parliament. Parliamentarian radicalism itself was varied in character, embracing the Levellers’ populism, parliamentary absolutism, and millenarian and providentialist ideas.

Cupreines and cupreidines: an established class of bifunctional cinchona organocatalysts

Cinchona alkaloids with a free 6'-OH functionality are being increasingly used within asymmetric organocatalysis. This fascinating class of bifunctional catalyst offers a genuine alternative to the more commonly used thiourea systems and because of the different spacing between the functional groups, can control enantioselectivity where other organocatalysts have failed. In the main, this review covers the highlights from the last five years and attempts to show the diversity of reactions that these systems can control. It is hoped that chemists developing asymmetric methodologies will see the value in adding these easily accessible, but underused organocatalysts to their screens.