Corporate Governance in China (summary section only)

The negative relationship between economic growth and stock market return is not an anomaly according to evidence documented in many economies. It is argued that future economic growth is largely irrelevant for predicting future equity returns, since long-run equity returns depend mainly on dividend yields and the growth of per share dividends. The economic growth does result in a higher standard of living for consumers, but does not necessarily translate into higher returns for owners of the capital. The divergence in performance between the real sector and stock markets appears to support the above argument. However, this thesis strives to offer an alternative explanation to the apparent divergence within the framework of corporate governance. It argues that weak corporate governance standards in Chinese listed firms exacerbated by poor inventor protection results into a marginalized capital market. Each of the three essays in the thesis addresses one particular aspect of corporate governance on the Chinese stock market in a sequential way through gathering empirical evidence on three distinctive stock market activities. The first essay questions whether significant agency conflicts do exist by building a game on rights issues. It documents significant divergence in interests among shareholders holding different classes of shares. The second essay investigates the level of agency costs by examining value of control through constructing a sample of block transactions. It finds that block transactions that transfer ultimate control entail higher premiums. The third essay looks into possible avenues through which corporate governance standards could be improved by investigating the economic consequences of cross-listing on the Chinese stock market. It finds that, by adopting a higher disclosure standard through cross-listings, firms voluntarily commit themselves to reducing information asymmetry, and consequently command higher valuation than their counterparts.

Designing Creativity Through Clusters - A periodisation of cluster discourse

The thesis focuses on one of the most dominant articulations of the relation between geographical place and development, clusters - internationally competing place-bound economic system of production in related industries. The dominant articulation of cluster discourse represents the subnational region as a system of production, and as a means for competitiveness for Western countries. Its reproduction in theories has become one of the most prolific exports of economic geography to other disciplines and for policymaking. By analysing cluster discourse the thesis traces how the languages and processes of globalization have over time altered the understandings of the relation between geographical place and the economy. It shows how in its latest incarnation of the cluster discourse, the language of mainstream economics is combined with ‘softer’ elements (e.g. community, learning, creativity) in the economic geographic discourse. This is typical for the idea of soft capitalism, wherein it is assumed that economic success emanates from soft characteristics, such as knowledge, learning and creativity, rather than straightforward technological or cost advantages. A reoccurring critique against the dominant understanding of the relationship between competitiveness and regions, as articulated in cluster discourse, has pinpointed the perspective’s inability to reconcile the respective and reciprocal roles of local standard of living with firm competitiveness. The thesis traces how such critique is increasingly appropriated through the fusion of the economic, social and cultural landscape into the language of capitalism. It shows how cluster discourse has appropriated its critique, by focusing on creativity, with its strong associations to arts, individual artists and the cultural sphere in general, while predominantly creating its meaning in relation to competitiveness. The thesis consists of six essays that each outlines the development of the cluster discourse. The essays show how meaning systems and strategies are created, accepted and naturalized in cluster discourse, how this affects individuals, the economic landscape and society at large, as well as showing which understandings are marginalized in the process. The thesis argues that clusters are a) inseparable from ideology and politics and b) they are the result of purposeful social practice. It calls for increased reflexivity within corporate and economic geographic research on clusters, and underlines the importance of placing issues of power at the centre of analysis.

We Are All Georgians: The Neoconservative Narrative on the Russia-Georgia War

In this thesis I examine the U.S. foreign policy discussion that followed the war between Russia and Georgia in August 2008. In the politically charged setting that preceded the presidential elections, the subject of the debate was not only Washington's response to the crisis in the Caucasus but, more generally, the direction of U.S. foreign policy after the presidency of George W. Bush. As of November 2010, the reasons for and consequences of the Russia-Georgia war continue to be contested. My thesis demonstrates that there were already a number of different stories about the conflict immediately after the outbreak of hostilities. I want to argue that among these stories one can discern a “neoconservative narrative” that described the war as a confrontation between the East and the West and considered it as a test for Washington’s global leadership. I draw on the theory of securitization, particularly on a framework introduced by Holger Stritzel. Accordingly, I consider statements about the conflict as “threat texts” and analyze these based on the existing discursive context, the performative force of the threat texts and the positional power of the actors presenting them. My thesis suggests that a notion of narrativity can complement Stritzel’s securitization framework and take it further. Threat texts are established as narratives by attaching causal connections, meaning and actorship to the discourse. By focusing on this process I want to shed light on the relationship between the text and the context, capture the time dimension of a speech act articulation and help to explain how some interpretations of the conflict are privileged and others marginalized. I develop the theoretical discussion through an empirical analysis of the neoconservative narrative. Drawing on Stritzel’s framework, I argue that the internal logic of the narrative which was presented as self-evident can be analyzed in its historicity. Asking what was perceived to be at stake in the conflict, how the narrative was formed and what purposes it served also reveals the possibility for alternative explanations. My main source material consists of transcripts of think tank seminars organized in Washington, D.C. in August 2008. In addition, I resort to the foreign policy discussion in the mainstream media.

A note on transient photocurrents at semiconductor electrodes

The imprint of the changing surface concentration of minority carriers in photocurrent transients is marginalized in “switch off” transients as compared to “switch on” transients. When the surface level is situated close to either one of the band edges, it is shown that in principle it must be possible to obtain the energy of the surface level from “switch off” transients.The time constants for the “switch on” and “switch off” cases behave differently with potential. While in “switch off”, transient plots, the magnitude of the slope decreases monotonically with increasing band bending potentials; for the “switch on” however, though it decreases and is identical to “switch off” initially, beyond a certain increase in potential the magnitude of the slope shows an increase.

Towards the Breaking Day : An Ethnography of Belian Curing Rituals among the Luangans of Indonesian Borneo

Towards the Breaking Day is an ethnography of belian, an exceptionally lively tradition of curing rituals performed by the Luangans, a politically marginalized population of swidden cultivators of Indonesian Borneo. The principal purpose of the study is to explore the significance of belian rituals in practice. It asks what belian rituals do socially, politically, and existentially for particular people in particular circumstances. Departing from conventional conceptions of rituals as ethereal liminal or insulated traditional domains, it demonstrates the importance of understanding rituals as emergent within their specific historical and social settings, and highlights the irreducibility of lived reality to epistemological certainty. Each chapter of the book represents an analysis of a concrete ritual performance, exemplifying a diversity of ritual genres, stylistic modalities and sensual ambiences, ranging from low-keyed, habitual affairs to drawn-out, crowd-seizing community rituals and innovative, montage-like cultural experiments. The study is based on eighteen months of ethnographic fieldwork in non-Christian Central Luangan communities in which ritual and everyday life are complexly intermixed. It is intended as a contribution to the anthropological study of ritual and to the ethnography of Borneo religion in which the study of shamanistic life rituals has been overshadowed by a long-standing fascination with death and funerary rites.

From ‘Afflicted’ to Activists: Structural Violence and Climate Change Discourse in the States of Pernambuco and Paraíba in Northeast Brazil

This study approaches the problem of poverty in the hinterlands of Northeast Brazil through the concept of structural violence, linking the environmental threats posed by climate change, especially those related to droughts, to the broader social struggles in the region. When discussions about potentials and rights are incorporated into the problematic of poverty, a deeper insight is obtained regarding the various factors behind the phenomenon. It is generally believed that climate change is affecting the already marginalized and poor more than those of higher social standing, and will increasingly do so in the future. The data for this study was collected during a three month field work in the states of Pernambuco and Paraíba in Northeast Brazil. The main methods used were semi-structured interviews and participant observation, including attending seminars concerning climate change on the field. The focus of the work is to compare both layman and expert perceptions on what climate change is about, and question the assumptions about its effects in the future, mainly that of increased numbers of ‘climate refugees’ or people forced to migrate due to changes in climate. The focus on droughts, as opposed to other manifestations of climate change, arises from the fact that droughts are not only phenomena that develop over a longer time span than floods or hurricanes, but is also due to the historical persistence of droughts in the region, and both the institutional and cultural linkages that have evolved around it. The instances of structural violence that are highlighted in this study; the drought industry, land use, and the social and power relations present in the region, including those between the civil society, the state and the private agribusiness sector, all work against a backdrop of symbolic and moral realms of value production, where relations between the different actors are being negotiated anew with the rise of the climate change discourse. The main theoretical framework of the study consists of Johan Galtung’s and Paul Farmer’s theory of structural violence, Ulrich Beck’s theory of the risk society, and James Scott’s theory of everyday peasant resistance.

Cramer-Rao-Type Bounds for Sparse Bayesian Learning

In this paper, we derive Hybrid, Bayesian and Marginalized Cramer-Rao lower bounds (HCRB, BCRB and MCRB) for the single and multiple measurement vector Sparse Bayesian Learning (SBL) problem of estimating compressible vectors and their prior distribution parameters. We assume the unknown vector to be drawn from a compressible Student-prior distribution. We derive CRBs that encompass the deterministic or random nature of the unknown parameters of the prior distribution and the regression noise variance. We extend the MCRB to the case where the compressible vector is distributed according to a general compressible prior distribution, of which the generalized Pareto distribution is a special case. We use the derived bounds to uncover the relationship between the compressibility and Mean Square Error (MSE) in the estimates. Further, we illustrate the tightness and utility of the bounds through simulations, by comparing them with the MSE performance of two popular SBL-based estimators. We find that the MCRB is generally the tightest among the bounds derived and that the MSE performance of the Expectation-Maximization (EM) algorithm coincides with the MCRB for the compressible vector. We also illustrate the dependence of the MSE performance of SBL based estimators on the compressibility of the vector for several values of the number of observations and at different signal powers.

Corporate social responsibilities of Indian public sector enterprises-a case study of Bharat Heavy Electricals Limited (BHEL)

The high level of public accountability attached to Public Sector Enterprises as a result of public ownership makes them socially responsible. The Committee of Public Undertakings in 1992 examined the issue relating to social obligations of Central Public Sector Enterprises and observed that ``being part of the `State', every Public Sector enterprise has a moral responsibility to play an active role in discharging the social obligations endowed on a welfare state, subject to the financial health of the enterprise''. It issued the Corporate Social Responsibility Guidelines in 2010 where all Central Public Enterprises, through a Board Resolution, are mandated to create a CSR budget as a specified percentage of net profit of the previous year. This paper examines the CSR activities of the biggest engineering public sector organization in India, Bharath Heavy Electricals Limited. The objectives are twofold, one, to develop a case study of the organization about the funds allocated and utilized for various CSR activities, and two, to examine its status with regard to other organizations, the 2010 guidelines, and the local socio-economic development. Secondary data analysis results show three interesting trends. One, it reveals increasing organizational social orientation with the formal guidelines in place. Two, Firms can no longer continue to exploit environmental resources and escape from their responsibilities by acting separate entities regardless of the interest of the society and Three the thrust of CSR in public sector is on inclusive growth, sustainable development and capacity building with due attention to the socio-economic needs of the neglected and marginalized sections of the society.

SUSTAINABILITY IN TRADITIONAL HANDLOOMS

The handloom sector constitutes a distinct feature of the rich cultural heritage of India and plays a vital role in the economy and cultural identity of the country. It is an ancient industry and is source of livelihood for many villages in India. Its spread varies in style, practice and scale throughout the country - in certain regions it is has a proficient industry, while in others its establishment is localized, where it is a family-based activity. While, hand-woven fabrics are well-sought after both nationally and globally, weavers currently remain marginalized and often impoverished. The well-set power loom industry has further added to their woes. Given the progressive failure of centralized production and distribution ideologies, handlooms represent a decentralized distributed means of livelihood security, environmental consonance, employment generation, skill enhancement, cultural (diversity, identity and) integrity and sustainability. The fabrics and dyes used in the handloom industry are environment-friendly and often unique to a region (based on available skill and resources). The paper comprehensively evaluates and forecasts sustainability in the context of traditional handlooms in India. Results of the study and recommendations are presented in this paper.

La maurofilia en la poesía épica medieval

Resumen: El hispanista francés Georges Cirot fue el primero en emplear el término “maurofilia literaria” (maurophilie littéraire) en 1938 para referirse a la representación del valor y la nobleza de los moros en la literatura española del siglo XVI. Pero como señaló Ramón Menéndez Pidal (1957, 202), ya en los siglos XIV y XV los castellanos se habían sentido atraídos por los musulmanes de Granada, por su exótica civilización, su lujo en el vestir, la espléndida ornamentación de sus edificios y su modo de cabalgar, armarse y combatir. Francisco Márquez Villanueva (1984, 117-118) indicó que aunque la literatura maurófila del siglo XVI fue elaborada bajo el signo avanzado del humanismo cristiano, cuyas características fueron “el inconformismo y la sensibilidad para toda suerte de realidades en divergencia del mundo oficial”, las raíces de la maurofilia literaria se encuentran en el viejo romancero fronterizo y morisco elaborado en el siglo XV. En su opinión, el Romancero fue la patria de la “maurofilia pura” y es donde encontramos un cuadro de referencias temáticas “hecho de toponimia y onomástica, armas, indumentaria, policromía y cabalgadas” tendiente a caracterizar al moro como un ser refinado y superior. Para María Rosa Lida (1960, 355), en cambio, la imagen caballeresca del moro se remonta a don Juan Manuel, pues en sus obras aparecen las cortes musulmanas como “centros de molicie refinada y suntuosa”. En efecto, en el Libro de los estados se afirma el valor del moro como guerrero y en el Conde Lucanor aparecen una serie de reyes moros magnánimos y discretos. Sin embargo, el árabe como personaje sabio o “ejemplar” figura ya en una de las fuentes del Conde Lucanor, la Disciplina clericalis, obra compuesta a principios del siglo XII por el judío converso Pedro Alfonso. Por otra parte, el análisis de la representación de los moros en textos épicos, Avengalvón en el Poema de mio Cid y Almanzor en la Los siete infantes de Lara, nos permite descubrir un importante e insoslayable antecedente de la maurofilia de los últimos siglos de la Edad Media

Global movements, national grievances. Mobilizing for “real democracy” and social justice

In the ashes of political and socio-economic collapse, social movements sometimes rise like a phoenix. Little more than a year has passed since the Tunisian uprisings, the spark that ignited a series of “mobilizations of the indignant” that spread like wildfire around the world. Many observers have reported on these unprecedented global protests. They have portrayed citizens who declare feeling marginalized if not scapegoated, and who reject the increasing inequalities between rich and poor, the declining mobility of most, and the “disclassment” of many. They have shown, as well, massive protests against governments and politicians that are perceived as indifferent at best, duplicitous at worst, and in any event as blatantly closed to popular concerns. Many journalists have indeed asked what took so long for people to protest given this fatal combination. For the social scientist, however, the questions of who, why and how mobilizes are not so simple. There are specific problematics of mediation between structure, culture and individual or collective agency that need to be addressed.

A santa absolvição do crime: violência, revolta e religiosidade nas dramaturgias de Jean Genet e Plínio Marcos

A presente tese de doutorado analisa, em perspectiva comparada, as convergências e divergências entre as dramaturgias do francês Jean Genet e do brasileiro Plínio Marcos, sob o prisma de três tópicos inegavelmente presentes, nelas: a violência, a revolta e a religiosidade. As questões de margem, borda, periferia, ex-centricidade, dissenso etc são abordadas neste trabalho para situar a ideia de outro como o referencial ontológico que sustenta a obra teatral de ambos. As respectivas biografias dos autores em questão, direta ou indiretamente, tem relação com a aura de marginalidade artística atribuída (e até assumida por eles próprios) a sua produção em geral (seus romances, poemas, ensaios e contos). Pode-se dizer que muito da persona que ambos assumiram correspondia às expectativas que os círculos intelectuais engajados tinham em adotar uma figura que viesse a encarnar o papel de autêntico porta-voz do segmento marginalizado da sociedade na qual cada um deles se criou. Ambos gozam de certo status de vanguardistas no caso do metateatro de Genet, na sua atribuída vinculação ao Teatro do Absurdo, e, no caso do hipernaturalismo dramático de Plínio, na sua atribuída (e mesmo confessa) descendência da linhagem criativa de caracteres e motivos do teatro de Nelson Rodrigues. Outro aspecto comum à dramaturgia de Genet e Plínio que abordamos é a problematização de dois espaços alegóricos definidores por excelência do ethos dos tipos humanos que o habitam: a prisão e o prostíbulo. Para tanto, ganham destaque, aqui, Alta vigilância e O Balcão, de Genet, e Barrela e O abajur lilás, de Plínio. Nelas também se verifica a figuração de motivos de inspiração religiosa que, no autor francês, concorrem para uma espécie de sacralização ritual do crime (o que ecoa o ideário de Antonin Artaud) e, no brasileiro, funcionam como um exercício catártico de compaixão à sombra de uma cristandade de feição primitiva que se insinua no tratamento que dá à degradação dos párias sociais que compõem seu universo dramático. Por fim, analisamos comparativamente três peças brasileiras (Pedro Mico, de Antonio Callado; Gimba, o presidente dos valentes, de Gianfrancesco Guarnieri; e Oração para um pé de chinelo, de Plínio Marcos) tomando como ponto de partida uma situação dramática comum a elas para traçar, assim, as afinidades e distinções de cada qual quanto à abordagem da criminalidade. E, assim, também, poder apontar o tipo de projeto de teatro a que cada uma se vincula, trazendo à tona questões caras ao momento histórico-cultural no qual foram compostas, como a figuração do negro e do favelado na sociedade brasileira

Can the dead speak? appropriation and rewriting of the canon in Angela Carters Nights at the circus and in Margaret Atwoods The Penelopiad

Esta dissertação visa estudar como autoras pós-modernas se apropriam e reescrevem textos canônicos em uma tentativa de trazer à tona e desconstruir as metanarrativas patriarcais, que informam tais textos. Tal objetivo pretende ser alcançado através de um estudo sobre a formação do cânone literário, dos conceitos de mito e principalmente das estratégias narrativas utilizadas por essas autoras em seu processo criativo. Para tal, um estudo sobre intertextualidade, a paródia e a intertextualidade paródica é levado a cabo nesta dissertação. Dois romances figuram como objeto de investigação neste trabalho. O romance Nights at the Circus, da escritora inglesa Angela Carter, é o primeiro a ser analisado. Nesse romance, as estratégias de apagamento das fronteiras entre os gêneros e a intertextualidade paródica entre textos e mitos clássicos como formas de apropriação e subversão do cânone, são privilegiadas. O outro romance que se faz presente nesta dissertação é a obra da autora canadense Margaret Atwood intitulada The Penelopiad. Nesse romance, personagens que antes eram marginalizados ou não tinham voz figuram como personagens principais, como é o caso de Penélope e de suas doze criadas. Esta dissertação visa, assim, mostrar como essas apropriações de textos canônicos exercem um papel fundamental no questionamento da artificialidade de discursos que são naturalizados e dos valores propagados pelos mesmos

A política de dar dinheiro e a política: causas e efeiros das experiências de transferências condicionada no Brasil e no México

O trabalho pretende abordar a evolução das políticas de combate à pobreza a partir da observação das dinâmicas econômicas e políticas de Brasil e México. As maiores experiências de transferência condicionada na América Latina, Bolsa Família e Oportunidades são fruto de um processo de amadurecimento de políticas públicas que se iniciou muito antes da preparação de seus respectivos desenhos de operação. Entre 1988 e 2006 as políticas de combate à pobreza foram ao mesmo tempo conseqüências e causas de importantes alterações na dinâmica política, econômica e social de Brasil e México. Em nível macro, condições históricas de exclusão social, pobreza e restrições fiscais na América Latina tornaram esta uma experiência comum à grande maioria dos países da região. Em nível micro, especificidades nacionais nos processos de liberalização e democratização moldaram o desenho das políticas e suas formas de institucionalização. A partir da análise desses programas ora como variável dependente, ora como variável independente procura-se compreender como dois governos um com maiores tendências conservadoras e o outro, progressistas utilizaram a institucionalização e ampliação de políticas públicas semelhantes e se adaptaram a elas no jogo pela conquista e permanência no poder pós-reformas econômicas e a consolidação da democracia. Após a implantação, ampliação e estabilização no número de beneficiários dos programas de transferência condicionada, o debate em torno das formas de rompimento do ciclo intergeracional da pobreza volta a questões que nas últimas décadas haviam sido deixadas de lado em alguma medida: retoma-se o foco na necessidade de investimentos na oferta de serviços e no estímulo à geração de emprego.

The fisheries of St. Lucia, West Indies

An overview of the fisheries of St. Lucia using currently available information is presented. The fisheries are entirely artisanal, characterized by relatively simple and inexpensive gears and boats. The 2,100 fishers (who land roughly 750 t per year of fish) appear socially and economically marginalized and beset by low occupational mobility. The status of the major species groups they exploit are briefly discussed, and initial indications of overfishing are noted. Consideration on both resource and resource-user situations in management of the island's fisheries is emphasized.