The effect of ownership structure, country governance, and financial development on the capital structure of unlisted eastern European firms

This paper investigates the determinants of capital structure for a sample of 20,713 unlisted firms from 11 eastern European countries over the period 1994-2004. We employ usual firm-specific financial variables as well as country-specific variables that describe the degrees of governance structure and financial development of each country. Using regression analysis, our results indicate that firm ownership concentration and country governance structure are insignificant explanatory variables to the degree of leverage of the firms in our sample. On the other hand, indicators of country financial development are robust determinants of capital structure. However, the marginal explanatory power of country-specific variables is small. We conclude that firm-specific characteristics are decisive in capital structure.

The emotional costs of caring incurred by men and women in the British labour market

This study investigates whether men and women in caring occupations experience more negative job-related feelings at the end of the day compared to the rest of the working population. The data are from Wave Nine of the British Household Panel Survey (1999) where respondents were asked whether, at the end of the working day, they tended to keep worrying or have trouble unwinding, and the extent to which work left them feeling exhausted or “used up.” Their responses to these questions were used to develop ordinal dependent variables. Control variables in the models include: number of children, age, hours worked per week, managerial responsibilities and job satisfaction, all of which have been shown in previous research to be significantly related to “job burnout.” The results are that those in caring occupations are more likely to feel worried, tense, drained and exhausted at the end of the working day. Women in particular appear to pay a high emotional cost for working in caring occupations. Men do not emerge unscathed, but report significantly lower levels of worry and exhaustion at the end of the day than do women.

Swirl Flow Bioreactor coupled with Cu-alginate beads: A system for the eradication of Coliform and Escherichia coli from biological effluents

It is estimated that approximately 1.1 billion people globally drink unsafe water. We previously reported both a novel copper-alginate bead, which quickly reduces pathogen loading in waste streams and the incorporation of these beads into a novel swirl flow bioreactor (SFB), of low capital and running costs and of simple construction from commercially available plumbing pipes and fittings. The purpose of the present study was to trial this system for pathogen reduction in waste streams from an operating Dewats system in Hinjewadi, Pune, India and in both simulated and real waste streams in Seattle, Washington, USA. The trials in India, showed a complete inactivation of coliforms in the discharged effluent (Mean Log removal Value (MLRV) = 3.51), accompanied by a total inactivation of E. coli with a MLRV of 1.95. The secondary clarifier effluent also showed a 4.38 MLRV in viable coliforms during treatment. However, the system was slightly less effective in reducing E. coli viability, with a MLRV of 1.80. The trials in Seattle also demonstrated the efficacy of the system in the reduction of viable bacteria, with a LRV of 5.67 observed of viable Raoultella terrigena cells (100%).

Costs and benefits to European shipping of ballast-water and hull-fouling treatment: Impacts of native and non-indigenous species

Maritime transport and shipping are impacted negatively by biofouling, which can result in increased fuel consumption. Thus, costs for fouling reduction can be considered an investment to reduce fuel consumption. Anti-fouling measures also reduce the rate of introduction of non-indigenous species (NIS). Further mitigation measures to reduce the transport of NIS within ballast water and sediments impose additional costs. The estimated operational cost of NIS mitigation measures may represent between 1.6% and 4% of the annual operational cost for a ship operating on European seas, with the higher proportional costs in small ships. However, fouling by NIS may affect fuel consumption more than fouling by native species due to differences in species’ life-history traits and their resistance to antifouling coatings and pollution. Therefore, it is possible that the cost of NIS mitigation measures could be smaller than the cost from higher fuel consumption arising from fouling by NIS.

Dispossessing bare life: Towards a theoretical framework for examining power relations through economic development at the 2010 FIFA World Cup in South Africa

In the past twenty years an increasing number of Global South nations have vied for the rights to host prestigious and expensive sport mega events. This trend requires significant reflection given the enormous economic costs of these events, which often produce little capital gain for the host nation (Whitson & Horne, 2006). Furthermore, sport mega events are often utilized for their symbolic capital (Belanger, 2009), which sometimes manifests through forcing people from their land for the sake of “beautification” (Davis, 2006). In this project, then, I asked how technologies of power were utilized by FIFA, corporate stakeholders, and the South African government to control people who were marginal to, or impeded the success of, the World Cup in Nelspruit, South Africa. This project consisted of two parts: the first involved constructing a theoretical framework for better understanding power as it operates through sport mega events in general. To this end I employed Marxian notions of the ordering of physical space, Foucauldian conceptions of sovereignty and governmentality, and Agamben’s (1998) state of exception to determine how particular bodies are constituted and controlled through sport mega events. In the second part, I applied this theoretical framework to the events in South Africa to better elucidate how people became displaced and killed because of the 2010 FIFA World Cup. I used South African popular news and documentaries as empirical evidence and conducted a discursive analysis of said news media. Through this coverage it became apparent that the mega event created the conditions in which new forms of rogue sovereign partnerships could arise through a historically and spatially contingent process of capitalism. The rogue sovereigns’ para-juridico-political orders, the discourses and practices of accumulation by dispossession as a tactic and effect of govermentality, and other historical non-capital subjectivities such as racial identity, all contributed to constituting Agamben’s state of exception in which people could be displaced, killed or left to die in the events surrounding the World Cup.