Power and paradigms : the Dutch response to pressures for shareholder value

In recent years, research aimed at identifying and relating the antecedents and consequences of diffusing organizational practices/ideas has turned its attention to debating the international adoption and implementation of the Anglo-American model of corporate governance, i.e., a shareholder-value-orientation (SVO). While financial economists characterize the adoption of an SVO as necessary and performance-enhancing, behavioral scientists have disputed such claims, invoking institutional contingencies in the appropriateness of an SVO. Our study seeks to provide some resolution to the debate by developing an overarching socio-political perspective that links the antecedents and consequences of the adoption of the contested practice of SVO. We test our framework using extensive longitudinal data from 1992-2006 from the largest listed corporations in the Netherlands, and we find a negative relationship between SVO adoption and subsequent firm performance, although this effect is attenuated when accompanied by greater SVO-alignment among major owners and a firm’s visible commitment to an SVO. This study extends prior research on the diffusion of contested organizational practices that has taken a socio-political perspective by offering an original contingency perspective that addresses how and why the misaligned preferences of corporate owners will affect (i) a company’s inclination to espouse an SVO, and (ii) the performance consequences of such misalignment.This study suggests when board members are considering the adoption of new ideas/practices (e.g., SVO), they should consider the contextual fitness of the idea/practice with the firm’s owners and their interests.

No laughing matter: Blaming the victim of online fraud

There is a strong sense of negativity associated with online fraud victimization. Despite an increasing awareness, understanding about the reality of victimization experiences is not apparent. Rather, victims of online fraud are constructed as greedy and gullible and there is an overwhelming sense of blame and responsibility levelled at them for the actions that led to their losses. This belief transcends both non-victims and victims. The existence of this victim-blaming discourse is significant. Based on interviews with 85 seniors across Queensland, Australia, who received fraudulent emails, this article establishes the victim-blaming discourse as an overwhelmingly powerful and controlling discourse about online fraud victimization. However, the article also examines how humour acts as a tool to reinforce this discourse by isolating victims and impacting on their ability to disclose to those around them. Identifying and challenging this victim-blaming discourse, as well as the role of humour and its social acceptance, is a first step in the facilitation of victim recovery and future well-being.

Corporate governance convergence and moral relativism

Research question / issue This paper frames the debate on corporate governance convergence in terms of the morality underlying corporate governance models. The claims and arguments of moral relativism are presented to provide theoretical structure to the moral aspects of corporate governance convergence, and ultimately the normative question of whether convergence should occur. Research findings / insights: The morality underlying different models of corporate governance has largely been ignored in the corporate governance convergence literature. A range of moral philosophies and principles that underlie the dominant corporate governance models are identified. This leads to a consideration of the claims and arguments of moral relativism relating to corporate governance. A research agenda around the claims of Descriptive and Metaethical moral relativism, and which ultimately informs the associated normative argument, is then suggested. Theoretical / Academic implications The application of moral relativism to the debate on corporate governance convergence presents a theoretical structure to the analysis and consideration of its moral aspects. This structure lends itself to further research, both empirical and conceptual. Practitioner / Policy implications The claims and arguments of moral relativism provide a means of analysing calls that are made for a culturally or nationally ‘appropriate’ model of corporate governance. This can assist in providing direction for corporate governance reforms and is of particular relevance for developing countries which have inherited Western corporate governance models through colonialism.

Striving for a better world: Lessons from Freire in Grenada, Jamaica and Australia

The author of this paper considers the influence of Paulo Freire’s pedagogical philosophy on educational practice in three different geographical/political settings. She begins with reflections on her experience as a facilitator at Freire’s seminar, held in Grenada in 1980 for teachers and community educators, on the integration of work and study. This case demonstrates how Freire’s method of dialogic education achieved outcomes for the group of thoughtful collaboration leading to conscientisation in terms of deep reflection on their lives as teachers in Grenada and strategies for decolonising education and society. The second case under consideration is the arts-based pedagogy shaping the work of the Area Youth Foundation (AYF) in Kingston, Jamaica. Young participants, many of them from tough socio-economic backgrounds, are empowered by learning how to articulate their own experiences and relate these to social change. They express this conscientisation by creating stage performances, murals, photo-novella booklets and other artistic products. The third case study describes and evaluates the Honey Ant Reader project in Alice Springs, Australia. Aboriginal children, as well as the adults in their community, learn to read in their local language as well as Australian Standard English, using booklets created from indigenous stories told by community Elders, featuring local customs and traditions. The author analyses how the “Freirean” pedagogy in all three cases exemplifies the process of encouraging the creation of knowledge for progressive social change, rather than teaching preconceived knowledge. This supports her discussion of the extent to which this is authentic to the spirit of the scholar/teacher Paulo Freire, who maintained that in our search for a better society, the world has to be made and remade. Her second, related aim is to raise questions about how education aligned with Freirean pedagogy can contribute to moving social change from the culture circle to the public sphere.

Beyond blue gene: Intellectual property and bioinformatics

This article considers the challenges posed to intellectual property law by the emerging field of bioinformatics. It examines the intellectual property strategies of established biotechnology companies, such as Celera Genomics, and information technology firms entering into the marketplace, such as IBM. First this paper argues that copyright law is not irrelevant to biotechnology, as some commentators would suggest. It claims that the use of copyright law and contract law is fundamental to the protection of biomedical and genomic databases. Second this article questions whether biotechnology companies are exclusively interested in patenting genes and genetics sequences. Recent evidence suggests that biotechnology companies and IT firms are patenting bioinformatics software and Internet business methods, as well as underlying instrumentation such as microarrays and genechips. Finally, this paper evaluates what impact the privatisation of bioinformatics will have on public research and scientific communication. It raises important questions about integration, interoperability, and the risks of monopoly. It finally considers whether open source software such as the Ensembl Project and peer to peer technology like DSAS will be able to counter this trend of privatisation.

Online grocery shopping: The impact of shopping frequency on perceived risk

Online grocery shopping has enjoyed strong growth and it is predicted this channel will continue to grow exponentially in the coming years. While online shopping has attracted an abundance of research interest, examinations of online grocery shopping behaviour are only now emerging. Shopping online for groceries differs considerably from general online shopping due to the perishability and variability of the product, and frequency of the shopping activity. Two salient gaps underpin this research into online grocery shopping. This study responds to calls to investigate the online shoppers’ experience in the context of online purchasing frequency. Second, this study examines the mediating effect of perceived risk between trust and online repurchase intention of groceries. An online survey was employed to collect data from shoppers who were recruited from a multi-channel grocery e-retailer’s database. The online survey, comprising 16 reflective validated scale items, was sent to 555 frequent and infrequent online grocery shoppers. Results find that while customer satisfaction predicts trust for both infrequent and frequent online grocery shoppers, perceived risk fully mediates the effect of trust on repurchase intentions for infrequent online grocery shoppers. Furthermore path analysis reveals that the developed behavioural model is variant across both groups of shoppers. Theoretically, we provide a deeper understanding of the online customer experience, while gaining insight into two shopper segments identified as being important to grocery e-retailers. For managers, this study tests an online customer behavioural model with actual purchasing behaviour and identifies the continued presence of perceived risk in grocery e-retailing regardless of purchase frequency or experience.

Management objectives of Queensland fisheries: Putting the horse before the cart

A review of future management arrangements for the Queensland East Coast Trawl fishery was undertaken in 2010 to develop a management plan for the next 10 years. A key question raised at the start of the review process was: what should the management plan achieve? As with fisheries management in most countries, multiple management objectives were implicit in policy statements, but were poorly specified in some areas (particularly social objectives) and strongly identified in others (e.g., an objective of sustainability). As a start to the management review process, an analysis of what objectives the management system should aim to achieve was undertaken. A review of natural resource management objectives employed internationally was used to develop a candidate list, and the objectives most relevant to the fishery were short-listed by a scientific advisory group. Additional objectives specific to Queensland fisheries management, but not identified in the international review, were also identified and incorporated into the objective set. The relative importance of the different objectives to different stakeholder groups was assessed using the Analytic Hierarchy Process. As with other studies, the relative importance of the different objectives varied both within and between the different stakeholder groups, although general trends in preferences were observed.

The channels of monetary policy triggered by central bank actions and statements in the Australian equity market

Owing to the discrete disclosure practices of the Reserve Bank of Australia, this paper provides new evidence on the channels of monetary policy triggered by central bank actions (monetary policy announcements) and statements (explanatory minutes releases), in the Australian equity market. Both monetary policy announcements and explanatory minutes releases are shown to have a significant and comparable impact on the returns and volatility of the Australian equity market. Further, distinct from US and European studies that find strong evidence of the interest rate, bank loan and balance sheet channels and no evidence of the exchange rate channel following central bank actions, this paper finds that monetary policy impacts the Australian equity market via the exchange rate, interest rate and bank loan channels of monetary policy, with only weak evidence of the balance sheet channel of monetary policy. These channels are found to be operating irrespective of the trigger (monetary policy announcements or explanatory minutes releases), though results are somewhat weaker when examining the explanatory minutes releases. These results have important implications for central bank officials and financial market participants alike: by confirming a comparable avenue to affect monetary policy; and providing an explication of its impact on the Australian equity market.

A “business researcher” view on opportunities for psychology in entrepreneurship research

In this short essay I offer some “business researcher” advice on how to leverage a strong background in psychology when attempting to contribute to the maturing field of “entrepreneurship research”. Psychologists can benefit from within-discipline research, e.g. on emergence, small groups, fit, and expertise as well as method strengths in, e.g. experimentation, operationalisation of constructs, and multi-level modelling. However, achieving full leverage of these strengths requires a clear conceptualisation of “entrepreneurship” as well as insights into the challenges posed by the nature of this class of phenomena.

Temporal Coherence of Chlorophyll a during a Spring Phytoplankton Bloom in Xiangxi Bay of Three-Gorges Reservoir, China

Algal bloom phenomenon was defined as "the rapid growth of one or more phytoplankton species which leads to a rapid increase in the biomass of phytoplankton", yet most estimates of temporal coherence are based on yearly or monthly sampling frequencies and little is known of how synchrony varies among phytoplankton or of the causes of temporal coherence during spring algal bloom. In this study, data of chlorophyll a and related environmental parameters were weekly gathered at 15 sampling sites in Xiangxi Bay of Three-Gorges Reservoir (TGR, China) to evaluate patterns of temporal coherence for phytoplankton during spring bloom and test if spatial heterogeneity of nutrient and inorganic suspended particles within a single ecosystem influences synchrony of spring phytoplankton dynamics. There is a clear spatial and temporal variation in chlorophyll a across Xiangxi Bay. The degree of temporal coherence for chlorophyll a between pairs of sites located in Xiangxi Bay ranged from -0.367 to 0.952 with mean and median values of 0.349 and 0.321, respectively. Low levels of temporal coherence were often detected among the three stretches of the bay (Down reach, middle reach and upper reach), while high levels of temporal coherence were often found within the same reach of the bay. The relative difference of DIN between pair sites was the strong predictor of temporal coherence for chlorophyll a in down and middle reach of the bay, while the relative difference in Anorganic Suspended Solids was the important factor regulating temporal coherence in middle and upper reach. Contrary to many studies, these results illustrate that, in a small geographic area (a single reservoir bay of approximately 25 km), spatial heterogeneity influence synchrony of phytoplankton dynamics during spring bloom and local processes may override the effects of regional processes or dispersal.

PCR-DGGE Fingerprinting Analysis of Plankton Communities and Its Relationship to Lake Trophic Status

Plankton communities in eight lakes of different trophic status near Yangtze, China were characterized by using denatured gradient gel electrophoresis (DGGE). Various water quality parameters were also measured at each collection site. Following extraction of DNA from plankton communities, 16S rRNA and 18S rRNA genes were amplified with specific primers for prokaryotes and eukaryotes, respectively; DNA profiles were developed by DGGE. The plankton community of each lake had its own distinct DNA profile. The total number of bands identified at 34 sampling stations ranged from 37 to 111. Both prokaryotes and eukaryotes displayed complex fingerprints composed of a large number of bands: 16 to 59 bands were obtained with the prokaryotic primer set; 21 to 52 bands for the eukaryotic primer set. The DGGE-patterns were analyzed in relation to water quality parameters by canonical correspondence analysis (CCA). Temperature, pH, alkalinity, and the concentration of COD, TP and TN were strongly correlated with the DGGE patterns. The parameters that demonstrated a strong correlation to the DGGE fingerprints of the plankton community differed among lakes, suggesting that differences in the DGGE fingerprints were due mainly to lake trophic status. Results of the present study suggest that PCR-DGGE fingerprinting is an effective and precise method of identifying changes to plankton community composition, and therefore could be a useful ecological tool for monitoring the response of aquatic ecosystems to environmental perturbations.

Temporal and Spatial Distributions of Rotifers in Xiangxi Bay of the Three Gorges Reservoir, China

From July 2003 to June 2005, investigations of rotifer temporal and spatial distributions were carried out in a bay of the Three Gorges Reservoir, Xiangxi Bay, which is the downstream segment of the Xiangxi River and the nearest bay to the Three Gorges Reservoir dam in Hubei Province, China. Thirteen sampling sites were selected. The results revealed a high species diversity, with 76 species, and 14 dominant species; i.e., Polyarthra vulgaris, Keratella cochlearis, Keratella valga, Synchaeta tremula, Synchaeta stylata, Trichocerca lophoessa, Trichocerca pusilla, Brachionus angularis, Brachionus calyciflorus, Brachionus forficula forficula, Ascomorpha ovalis, Conochilus unicornis, Ploesoma truncatum and Anuraeopsis fissa. After the first year of the reservoir impoundment, the rotifer community was dominated by ten species; one year later it was dominated by eight species. The community in 2003/2004 was dissimilar to that in 2004/2005, which resulted from the succession of the dominant species. The rotifer community exhibited a patchy distribution, with significant heterogeneity observed along the longitudinal axis. All rotifer communities could be divided into three groups, corresponding to the riverine, the transition and the lacustrine zone, respectively.

Temperature-Dependent Growth and Life Cycle of Nemoura sichuanensis (Plecoptera: Nemouridae) in a Chinese Mountain Stream

Plecoptera constitute a numerically and ecologically significant component in mountain streams all over the world, but little is known of their life cycles in Asia. The life cycle of Nemoura sichuanensis and its relationship to water temperature was investigated during a 4-year study in a headwater stream (known as the Jiuchong torrent) of the Xiangxi River in Central China. Size structure histograms suggest that the life cycle was univoltine, and the relationships between the growth of Nemoura sichuanensis, physiological time, and effective accumulated water temperature were described using logistic regressions. The growth pattern was generally similar within year classes but growth rates did vary between year-classes. Our field data suggest a critical thermal threshold for emergence in Nemoura sichuanensis, that was close to 9 degrees C. The total number of physiological days required for completing larval development was 250 days. The effective accumulated water temperature was 2500 degree-days in the field. Development during the life cycle increased somewhat linearly with the physiological time and the effective accumulated water temperature, but some non-linear relationships were best developed by logistic equations.

Impacts of a small dam on riverine zooplankton

In order to explore the temporal impacts of a small dam on riverine zooplankton, monthly samples were conducted from November 2005 to June 2006 in a reach of Xiangxi River, China, which is affected by a small hydropower plant. A total of 56 taxa of zooplankton were recorded during the study and rotifers were the most abundant group, accounting for 97% of total taxa, while the others were copepod nauplii and copepod adults. This study indicated that: (1) the small dam in the Xiangxi River study area created distinct physical and ecological conditions relative to free-flowing lotic reaches despite the constrained channel and small size of the dam; (2) the existence of the plant's small dam had a significant effect on the zooplankton community. In long periods of drought or dry seasons the effect of the dam on potamoplankton was more pronounced (e.g., November, February, March, and May). But the downfall or the connectivity of channel appeared to decrease the effect of small hydropower plants on riverine zooplankton (e.g., April). The present observation underscores the need for additional studies that provide more basic data on riverine zooplankton communities and quantify ecological responses to dam construction over longer time spans.

Macroinvertebrate community structure in Three-Gorges Reservoir, China

We investigated the macroinvertebrate community structure in Three-Gorges Reservoir during a three-year period after the reservoir became operational. Comparison with data of previous authors obtained before the damming showed that the benthic community changed drastically in the reservoir. Oligochaetes and chironomids dominate the present community. An apparent annual cycle in the benthic community (expressed as richness, density and community type) was found in the second year, lagging one year behind the annual cycle of transparency. After the second year, a Nais-Polypedilum community type, occurring in winter and spring with low inflow discharge and high transparency, was followed by a Limnodrilus community type that occurred in autumn and summer under contrasting conditions. Despite river regulation and damming, it appeared that macroinvertebrates in subtropical canyon-shaped reservoirs remained influenced by floods.