712 resultados para shareholder activism


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The aim of this proposal is to offer an alternative perspective on the study of Cold War, since insufficient attention is usually paid to those organizations that mobilized against the development and proliferation of nuclear weapons. The antinuclear movement began to mobilize between the 1950s and the 1960s, when it finally gained the attention of public opinion, and helped to build a sort of global conscience about nuclear bombs. This was due to the activism of a significant part of the international scientific community, which offered powerful intellectual and political legitimization to the struggle, and to the combined actions of the scientific and organized protests. This antinuclear conscience is something we usually tend to consider as a fait accompli in contemporary world, but the question is to show its roots, and the way it influenced statesmen and political choices during the period of nuclear confrontation of the early Cold War. To understand what this conscience could be and how it should be defined, we have to look at the very meaning of the nuclear weapons that has deeply modified the sense of war. Nuclear weapons seemed to be able to destroy human beings everywhere with no realistic forms of control of the damages they could set off, and they represented the last resource in the wide range of means of mass destruction. Even if we tend to consider this idea fully rational and incontrovertible, it was not immediately born with the birth of nuclear weapons themselves. Or, better, not everyone in the world did immediately share it. Due to the particular climate of Cold War confrontation, deeply influenced by the persistence of realistic paradigms in international relations, British and U.S. governments looked at nuclear weapons simply as «a bullet». From the Trinity Test to the signature of the Limited Test Ban Treaty in 1963, many things happened that helped to shift this view upon nuclear weapons. First of all, more than ten years of scientific protests provided a more concerned knowledge about consequences of nuclear tests and about the use of nuclear weapons. Many scientists devoted their social activities to inform public opinion and policy-makers about the real significance of the power of the atom and the related danger for human beings. Secondly, some public figures, as physicists, philosophers, biologists, chemists, and so on, appealed directly to the human community to «leave the folly and face reality», publicly sponsoring the antinuclear conscience. Then, several organizations leaded by political, religious or radical individuals gave to this protests a formal structure. The Campaign for Nuclear Disarmament in Great Britain, as well as the National Committee for a Sane Nuclear Policy in the U.S., represented the voice of the masses against the attempts of governments to present nuclear arsenals as a fundamental part of the international equilibrium. Therefore, the antinuclear conscience could be defined as an opposite feeling to the development and the use of nuclear weapons, able to create a political issue oriented to the influence of military and foreign policies. Only taking into consideration the strength of this pressure, it seems possible to understand not only the beginning of nuclear negotiations, but also the reasons that permitted Cold War to remain cold.

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In many communities, supplying water for the people is a huge task and the fact that this essential service can be carried out by the private sector respecting the right to water, is a debated issue. This dissertation investigates the mechanisms through which a 'perceived rights violation' - which represents a specific form of perceived injustice which derives from the violation of absolute moral principles – can promote collective action. Indeed, literature on morality and collective action suggests that even if many people apparently sustain high moral principles (like human rights), only a minority decides to act in order to defend them. Taking advantage of the political situation in Italy, and the recent mobilization for "public water" we hypothesized that, because of its "sacred value", the perceived violation of the right to water facilitates identification with the social movement and activism. Through five studies adopting qualitative and quantitative methods, we confirmed our hypotheses demonstrating that the perceived violation of the right to water can sustain activism and it can influence vote intentions at the referendum for 'public water'. This path to collective action coexists with other 'classical' predictors of collective action, like instrumental factors (personal advantages, efficacy beliefs) and anger. The perceived rights violation can derive both from personal values (i.e. universalism) and external factors (i.e. a mobilization campaign). Furthermore, we demonstrated that it is possible to enhance the perceived violation of the right to water and anger through a specifically designed communication campaign. The final chapter summarizes the main findings and discusses the results, suggesting some innovative line of research for collective action literature.

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Nell'ambito di un'indagine sull'identità del rivoluzionario nel XIX secolo, calata tra gli attivisti coinvolti nella Comune di Parigi, si è trattato di selezionare quelle autobiografie scritte e pubblicate da comunardi come parte integrante della loro attività politica, e così porre il problema del rapporto tra pratica autobiografica e rivoluzione, ovvero chiarire le condizioni del passage au récit, la scelta autobiografica e insieme la mise en intrigue tra esperienze individuali e rivoluzione. Questa ricerca si presenta dunque come un lavoro sulle pratiche autobiografiche all'interno delle pratiche di attivismo politico, ovvero più specificamente sulla relazione tra autobiografia e rivoluzione. In altri termini si analizza il modo in cui i rivoluzionari narravano la loro identità in pubblico, perché lo avessero fatto e cosa veicolavo in termini di stili di vita e convinzioni particolari. In quanto rivoluzionari, l'autobiografia diviene fonte e parte di ciò che essi reputavano in quel momento la propria traiettoria rivoluzionaria, la narrazione di quella che in quel momento ritenevano comunicare al pubblico come propria identità narrativa. La ricerca si articola in tre momenti. Nel primo capitolo analizzo le biografie, o meglio un piccolo gruppo tra la massa di biografie di comunardi edite all'indomani della Comune da parte della pubblicistica tanto ostile quanto partigiana della Comune. Queste narrazioni biografiche diffuse nei mesi successivi alla repressione della rivoluzione comunalista consentono di affrontare una delle condizioni fondamentali del passage au récit autobiografico che si manifesterà solo posteriormente. Il secondo e il terzo capitolo sono dedicati a due progetti autobiografici di diversa natura: la trilogia autobiografica di Jules Vallès (1879, 1881, 1886) e le Mémoires di Louise Michel (1886).

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At the time of writing, all three elements that are evoked in the title – emancipation and social inclusion of sexual minorities, labour and labour activism, and the idea and substance of “Europe” – are being invested by deep, long-term, and – to varied degrees – radical processes of social transformation. The meaning of words like “equality”, “rights”, “inclusion”, and even “democracy” is as precarious and uncertain as are the lives of those European citizens who are marginalised by intersecting conditions of gender, sexuality, ethnicity, and class – in a constellation of precarities that is both unifying and fragmented (fragmenting). Conflicts are played, in hidden or explicit ways, over material processes of redistribution as well as discursive practices that revolve around these words. Against this backdrop, and roughly ten years after the European Union provided an input for institutional commitment to the protection of LGBT* workers' rights with the Council Directive 2000/78/EC, the dissertation contrasts discourses on workplace equality for LGBT* persons produced by a plurality of actors, seeking to identify values, semantics, and agendas framing and informing organisations’ views and showing how each actor has incorporated LGBT* rights into its own discourse, each time in a way that is functional to the construction and/or confirmation of its organisational identity: transnational union networks, by presenting LGBT* rights as a natural, neutral commitment within the framework of universal human rights protection; left-wing organisations, by collocating activism for LGBT* rights within a wider project of social emancipation that is for all the marginalised, yet is not neutral, but attached to specific values and opposed to specific political adversaries (the right-wing, the nationalists); business networks, by acknowledging diversity as a path to better performance and profits, thus encouraging inclusion and non-discrimination of “deserving” LGBT* workers.

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Negli anni Ottanta si assiste tanto nel vecchio quanto nel nuovo continente alla rinascita del movimento antinucleare. Mentre in Europa l’origine di questa ondata di proteste antinucleari è collegata alla “doppia decisione” NATO del 1979, negli Stati Uniti la genesi si colloca nel contesto dalla mobilitazione dei gruppi ambientalisti in seguito all’incidente alla centrale nucleare di Three Mile Island. Dopo l’elezione di Ronald Reagan, alle proteste contro le applicazioni pacifiche dell’atomo si affiancarono quelle contro la politica nucleare del Paese. La retorica di Reagan, il massiccio piano di riarmo, unitamente al rinnovato deteriorarsi delle relazioni tra USA e URSS contribuirono a diffondere nell’opinione pubblica la sensazione che l’amministrazione Reagan, almeno da un punto di vista teorico, non avesse escluso dalle sue opzioni il ricorso alle armi nucleari nel caso di un confronto con l’URSS. I timori legati a questa percezione produssero una nuova ondata di proteste che assunsero dimensioni di massa grazie alla mobilitazione provocata dalla Nuclear Weapons Freeze Campaign (NWFC). Il target della NWFC era l’ampio programma di riarmo nucleare sostenuto da Reagan, che secondo gli attivisti nucleari, in un quadro di crescenti tensioni internazionali, avrebbe fatto aumentare le possibilità di uno scontro atomico. Per evitare lo scenario dell’olocausto nucleare, la NWFC proponeva «un congelamento bilaterale e verificabile del collaudo, dell’installazione e della produzione di armi nucleari». L’idea del nuclear freeze, che era concepito come un passo per fermare la spirale del riarmo e tentare successivamente di negoziare riduzioni negli arsenali delle due superpotenze, riscosse un tale consenso nell’opinione pubblica americana da indurre l’amministrazione Reagan a formulare una risposta specifica. Durante la primavera del 1982 fu, infatti, creato un gruppo interdipartimentale ad hoc, l’Arms Control Information Policy Group, con il compito di arginare l’influenza della NWFC sull’opinione pubblica americana e formulare una risposta coerente alle critiche del movimento antinucleare.

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In business literature, the conflicts among workers, shareholders and the management have been studied mostly in the frame of stakeholder theory. The stakeholder theory recognizes this issue as an agency problem, and tries to solve the problem by establishing a contractual relationship between the agent and principals. However, as Marcoux pointed out, the appropriateness of the contract as a medium to reduce the agency problem should be questioned. As an alternative, the cooperative model minimizes the agency costs by integrating the concept of workers, owners and management. Mondragon Corporation is a successful example of the cooperative model which grew into the sixth largest corporation in Spain. However, the cooperative model has long been ignored in discussions of corporate governance, mainly because the success of the cooperative model is extremely difficult to duplicate in reality. This thesis hopes to revitalize the scholarly examination of cooperatives by developing a new model that overcomes the fundamental problem in the cooperative model: the limited access to capital markets. By dividing the ownership interest into financial and control interest, the dual ownership structure allows cooperatives to issue stock in the capital market by making a financial product out of financial interest.

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One-hundred years ago, in 1914, male voters in Montana (MT) extended suffrage (voting rights) to women six years before the 19th Amendment to the US Constitution was ratified and provided that right to women in all states. The long struggle for women’s suffrage was energized in the progressive era and Jeanette Rankin of Missoula emerged as a leader of the campaign; in 1912 both major MT political party platforms supported women suffrage. In the 1914 election, 41,000 male voters supported woman suffrage while nearly 38,000 opposed it. MT was not only ahead of the curve on women suffrage, but just two years later in 1916 elected Jeanette Rankin as the first woman ever elected to the United States Congress. Rankin became a national leader for women's equality. In her commitment to equality, she opposed US entry into World War I, partially because she said she could not support men being made to go to war if women were not allowed to serve alongside them. During MT’s initial progressive era, women in MT not only pursued equality for themselves (the MT Legislature passed an equal pay act in 1919), but pursued other social improvements, such as temperance/prohibition. Well-known national women leaders such as Carrie Nation and others found a welcome in MT during the period. Women's role in the trade union movement was evidenced in MT by the creation of the Women's Protective Union in Butte, the first union in America dedicated solely to women workers. But Rankin’s defeat following her vote against World War I was used as a way for opponents to advocate a conservative, traditionalist perspective on women's rights in MT. Just as we then entered a period in MT where the “copper collar” was tightened around MT economically and politically by the Anaconda Company and its allies, we also found a different kind of conservative, traditionalist collar tightened around the necks of MT women. The recognition of women's role during World War II, represented by “Rosie the Riveter,” made it more difficult for that conservative, traditionalist approach to be forever maintained. In addition, women's role in MT agriculture – family farms and ranches -- spoke strongly to the concept of equality, as farm wives were clearly active partners in the agricultural enterprises. But rural MT was, by and large, the bastion of conservative values relative to the position of women in society. As the period of “In the Crucible of Change” began, the 1965 MT Legislature included only three women. In 1967 and 1969 only one woman legislator served. In 1971 the number went up to two, including one of our guests, Dorothy Bradley. It was only after the Constitutional Convention, which featured 19 women delegates, that the barrier was broken. The 1973 Legislature saw 9 women elected. The 1975 and 1977 sessions had 14 women legislators; 15 were elected for the 1979 session. At that time progressive women and men in the Legislature helped implement the equality provisions of the new MT Constitution, ratified the federal Equal Rights Amendment in 1974, and held back national and local conservatives forces which sought in later Legislatures to repeal that ratification. As with the national movement at the time, MT women sought and often succeeded in adopting legal mechanisms that protected women’s equality, while full equality in the external world remained (and remains) a treasured objective. The story of the re-emergence of Montana’s women’s movement in the 1970s is discussed in this chapter by three very successful and prominent women who were directly involved in the effort: Dorothy Bradley, Marilyn Wessel, and Jane Jelinski. Their recollections of the political, sociological and cultural path Montana women pursued in the 1970s and the challenges and opposition they faced provide an insider’s perspective of the battle for equality for women under the Big Sky “In the Crucible of Change.” Dorothy Bradley grew up in Bozeman, Montana; received her Bachelor of Arts Phi Beta Kappa from Colorado College, Colorado Springs, in 1969 with a Distinction in Anthropology; and her Juris Doctor from American University in Washington, D.C., in 1983. In 1970, at the age of 22, following the first Earth Day and running on an environmental platform, Ms. Bradley won a seat in the 1971 Montana House of Representatives where she served as the youngest member and only woman. Bradley established a record of achievement on environmental & progressive legislation for four terms, before giving up the seat to run a strong second to Pat Williams for the Democratic nomination for an open seat in Montana’s Western Congressional District. After becoming an attorney and an expert on water law, she returned to the Legislature for 4 more terms in the mid-to-late 1980s. Serving a total of eight terms, Dorothy was known for her leadership on natural resources, tax reform, economic development, and other difficult issues during which time she gained recognition for her consensus-building approach. Campaigning by riding her horse across the state, Dorothy was the Democratic nominee for Governor in 1992, losing the race by less than a percentage point. In 1993 she briefly taught at a small rural school next to the Northern Cheyenne Indian Reservation. She was then hired as the Director of the Montana University System Water Center, an education and research arm of Montana State University. From 2000 - 2008 she served as the first Gallatin County Court Administrator with the task of collaboratively redesigning the criminal justice system. She currently serves on One Montana’s Board, is a National Advisor for the American Prairie Foundation, and is on NorthWestern Energy’s Board of Directors. Dorothy was recognized with an Honorary Doctorate from her alma mater, Colorado College, was named Business Woman of the Year by the Bozeman Chamber of Commerce and MSU Alumni Association, and was Montana Business and Professional Women’s Montana Woman of Achievement. Marilyn Wessel was born in Iowa, lived and worked in Los Angeles, California, and Washington, D.C. before moving to Bozeman in 1972. She has an undergraduate degree in journalism from Iowa State University, graduate degree in public administration from Montana State University, certification from the Harvard University Institute for Education Management, and served a senior internship with the U.S. Congress, Montana delegation. In Montana Marilyn has served in a number of professional positions, including part-time editor for the Montana Cooperative Extension Service, News Director for KBMN Radio, Special Assistant to the President and Director of Communications at Montana State University, Director of University Relations at Montana State University and Dean and Director of the Museum of the Rockies at MSU. Marilyn retired from MSU as Dean Emeritus in 2003. Her past Board Service includes Montana State Merit System Council, Montana Ambassadors, Vigilante Theater Company, Montana State Commission on Practice, Museum of the Rockies, Helena Branch of the Ninth District Federal Reserve Bank, Burton K. Wheeler Center for Public Policy, Bozeman Chamber of Commerce, and Friends of KUSM Public Television. Marilyn’s past publications and productions include several articles on communications and public administration issues as well as research, script preparation and presentation of several radio documentaries and several public television programs. She is co-author of one book, 4-H An American Idea: A History of 4-H. Marilyn’s other past volunteer activities and organizations include Business and Professional Women, Women's Political Caucus, League of Women Voters, and numerous political campaigns. She is currently engaged professionally in museum-related consulting and part-time teaching at Montana State University as well as serving on the Editorial Board of the Bozeman Daily Chronicle and a member of Pilgrim Congregational Church and Family Promise. Marilyn and her husband Tom, a retired MSU professor, live in Bozeman. She enjoys time with her children and grandchildren, hiking, golf, Italian studies, cooking, gardening and travel. Jane Jelinski is a Wisconsin native, with a BA from Fontbonne College in St. Louis, MO who taught fifth and seventh grades prior to moving to Bozeman in 1973. A stay-at-home mom with a five year old daughter and an infant son, she was promptly recruited by the Gallatin Women’s Political Caucus to conduct a study of Sex-Role Stereotyping in K Through 6 Reading Text Books in the Bozeman School District. Sociologist Dr. Louise Hale designed the study and did the statistical analysis and Jane read all the texts, entered the data and wrote the report. It was widely disseminated across Montana and received attention of the press. Her next venture into community activism was to lead the successful effort to downzone her neighborhood which was under threat of encroaching business development. Today the neighborhood enjoys the protections of a Historic Preservation District. During this time she earned her MPA from Montana State University. Subsequently Jane founded the Gallatin Advocacy Program for Developmentally Disabled Adults in 1978 and served as its Executive Director until her appointment to the Gallatin County Commission in 1984, a controversial appointment which she chronicled in the Fall issue of the Gallatin History Museum Quarterly. Copies of the issue can be ordered through: http://gallatinhistorymuseum.org/the-museum-bookstore/shop/. Jane was re-elected three times as County Commissioner, serving fourteen years. She was active in the Montana Association of Counties (MACO) and was elected its President in 1994. She was also active in the National Association of Counties, serving on numerous policy committees. In 1998 Jane resigned from the County Commission 6 months before the end of her final term to accept the position of Assistant Director of MACO, from where she lobbied for counties, provided training and research for county officials, and published a monthly newsletter. In 2001 she became Director of the MSU Local Government Center where she continued to provide training and research for county and municipal officials across MT. There she initiated the Montana Mayors Academy in partnership with MMIA. She taught State and Local Government, Montana Politics and Public Administration in the MSU Political Science Department before retiring in 2008. Jane has been married to Jack for 46 years, has two grown children and three grandchildren.

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The staid Union Bank of Switzerland, in a very close vote, won the support of its shareholders in its battle against an attempt by dissidents to guide the way the nation's biggest bank is run. The special shareholder vote, held in a packed Zurich sports hall, was one of the most keenly awaited events in recent Swiss financial histroy. The Wall Street Journal, November 23, 1994

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Among the possible consequences of agency problems between owners and managers is a tendency by managers to make investment decisions for their firms that are deliberately aimed at reducing firm risk, as a means to control managers' personal wealth risk. The literature has suggested that such behavior may occur to the detriment of shareholder wealth, and that mrgers may be a particular class of investment decisions for which the behavior would be observable. We test these hypotheses empirically, but find no evidence from our merger sample that risk reduction for the aqquiring firm is the typical outcome nor that, when it occurs, it is differentially costly for shareholders.

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If workers are wealth maximizers, codetermination should lead to less risky investments, smaller dividends, reduced firm leverage, higher and more stable salaries, and more capital-intensive production processes. Unless codetermination also increases productivity by raising wokers' morale and satisfaction or reduces information asymmetries within the firm, shareholder wealth and firm value will decline. An analysis of West Germany's case, however, indicates that codetermination has little, if any, effect on corporate operations and performance.

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Unter dem Stichwort Say on Pay (SoP) haben in den letzen Jahren die meisten Länder der EU und die USA den Aktionären Abstimmungsrechte im Zusammenhang mit der Vergütung des Top-Managements eingeräumt. Zwischen den einzelnen Ländern bestehen jedoch erhebliche Unterschiede hinsichtlich der konkreten Ausgestaltung des SoP. Dieser Beitrag diskutiert die Wirkungen unterschiedlicher Gestaltungsoptionen des SoP auf die Anreizgestaltung und den Nutzen des Managements und der Aktionäre im Rahmen eines einfachen linearen Agency Modells. Dabei erweisen sich das vorvertragliche bindende SoP und das bedingt verpflichtende, nachvertragliche bindende SoP gegenüber den anderen untersuchten Varianten als überlegen. Während das konsultative SoP an seiner mangelnden Durchsetzbarkeit leidet, bietet das nachvertragliche bindende SoP Anreize für opportunistisches Verhalten auf Seiten der Aktionäre und führt deshalb zu Wohlfahrtsverlusten. In Ergänzung der Modellanalyse wird ein Überblick über die wichtigsten empirischen und experimentellen Studien zum Thema SoP gegeben und deren Inhalt im Lichte der Modellergebnisse diskutiert. Most countries of the European Union as well as the US recently introduced shareholder votes on the remuneration of executives, also referred to as “Say on Pay” (SoP). Interestingly, legislators in different jurisdictions opted for quite dissimilar voting right regimes. We provide an overview of the main regulatory approaches and discuss the potential impact of variations in SoP design on the structure of compensation contracts and the utility of shareholders and executives. We find that pre-contractual SoP and conditional post-contractual SoP with binding consequences are in the best interest of shareholders. By contrast, advisory SoP typically suffers from lacking enforceability. We also find that post-contractual SoP with binding consequences results in efficiency losses because it fuels moral hazard on the part of shareholders. We complement the theoretical analysis with a discussion of recent empirical and experimental studies on Say on Pay.

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L’histoire des relations entre biologie et politique féministe est tendue et contradictoire. Cela paraît d’autant plus flagrant aujourd’hui à l’âge d’or des neurosciences qui ramènent les arguments de supériorité masculine, le caractère inéluctable des différences de genre et la prédominance de l’hétérosexualité à une affaire de cerveau. Dans cet article, nous analysons les points d’intersection propres aux sciences du cerveau et du féminisme. Ces deux champs de recherche entretiennent selon nous des rapports conflictuels mais parfois aussi productifs, y compris dans leurs rapports à l’activisme politique. Ces rapports peuvent être caractérisés en référence à trois directions de recherche principales : des « déstabilisations », des « reconstructions » et des « recontextualisations ». En guise de conclusion, nous terminons par quelques réflexions sur les conditions sociologiques de l’engagement dans une économie politique des neurosciences.[1] [1]Traduit de l’anglais par Marc Gagnepain. Pour une brève présentation de l’article et du dossier thématique dans lequel il s’inscrit, nous renvoyons le/la lecteur/trice à l’article introductif de Bovet, Kraus, Panese, Pidoux et Stücklin, « Les neurosciences à l’épreuve de la clinique et des sciences sociales. Regards croisés ».

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Scholars have increasingly theorized, and debated, the decision by states to create and delegate authority to international courts, as well as the subsequent autonomy and behavior of those courts, with principal–agent and trusteeship models disagreeing on the nature and extent of states’ influence on international judges. This article formulates and tests a set of principal–agent hypotheses about the ways in which, and the conditions under which, member states are able use their powers of judicial nomination and appointment to influence the endogenous preferences of international judges. The empirical analysis surveys the record of all judicial appointments to the Appellate Body (AB) of the World Trade Organization over a 15-year period. We present a view of an AB appointment process that, far from representing a pure search for expertise, is deeply politicized and offers member-state principals opportunities to influence AB members ex ante and possibly ex post. We further demonstrate that the AB nomination process has become progressively more politicized over time as member states, responding to earlier and controversial AB decisions, became far more concerned about judicial activism and more interested in the substantive opinions of AB candidates, systematically championing candidates whose views on key issues most closely approached their own, and opposing candidates perceived to be activist or biased against their substantive preferences. Although specific to the WTO, our theory and findings have implications for the judicial politics of a large variety of global and regional international courts and tribunals.