The impact of change on employees : what do annual reports say?

As part of the accountability process public companies are required to report annually to stakeholders. Given the substantial investment in human capital, the disclosure of employment related policies, and the impact of changing policies and practices on employees, could be expected. Over the last few decades the UK banking sector has experienced major change. Increased competition, technology, regulation and deregulation have all contributed to changing practices, which have had a significant impact on employees. This paper examines changes in the banking sector, and the employee information reported in the annual reports of a large UK bank, over the period 1980 to 1995. The purpose of this paper is to examine how the changes, and the effects of the changes on employees, were reported in the annual reports.

An econometric model of the determinants of private investment and a CGE model of the impact of democracy on investment and economic growth in Fiji

Purpose – The purpose of this paper is to construct an econometric model of the determinants of private investment with a particular focus on the impact of democracy on investment.

Design/methodology/approach – The first step was to econometrically derive the long-run elasticities; then to modify the Fiji computable general equilibrium (CGE) model to incorporate the investment function. Also the econometrically derived long run elasticities in the CGE model were used.

Findings – It was found that democracy has a positive and statistically significant impact on private investment in Fiji. The paper's simulation of Fiji becoming a fully democratic country on investment and other macroeconomic fundamentals, based on a CGE model, reveals that real gross domestic product and real national welfare increase by around 0.01 and 0.05 per cent, respectively; government savings and revenue performance improves; there is a trade balance surplus; and both private consumption and disposable income increase by around 0.05 and 0.12 per cent, respectively.

Originality/value – This is the first study that uses a CGE model to examine the impact of democracy, via investment, on other macroeconomic fundaments. No other study is known to have modelled democracy in a CGE framework.

Bone geometry in response to long-term tennis playing and its relationship with muscle volume : a quantitative magnetic resonance imaging study in tennis players

The benefit of impact-loading activity for bone strength depends on whether the additional bone mineral content (BMC) accrued at loaded sites is due to an increased bone size, volumetric bone mineral density (vBMD) or both. Using magnetic resonance imaging (MRI) and dual energy X-ray absorptiometry (DXA), the aim of this study was to characterize the geometric changes of the dominant radius in response to long-term tennis playing and to assess the influence of muscle forces on bone tissue by investigating the muscle–bone relationship. Twenty tennis players (10 men and 10 women, mean age: 23.1 ± 4.7 years, with 14.3 ± 3.4 years of playing) were recruited. The total bone volume, cortical volume, sub-cortical volume and muscle volume were measured at both distal radii by MRI. BMC was assessed by DXA and was divided by the total bone volume to derive vBMD. Grip strength was evaluated with a dynamometer. Significant side-to-side differences (P < 0.0001) were found in muscle volume (+9.7%), grip strength (+13.3%), BMC (+13.5%), total bone volume (+10.3%) and sub-cortical volume (+20.6%), but not in cortical volume (+2.6%, ns). The asymmetry in total bone volume explained 75% of the variance in BMC asymmetry (P < 0.0001). vBMD was slightly higher on the dominant side (+3.3%, P < 0.05). Grip strength and muscle volume correlated with all bone variables (except vBMD) on both sides (r = 0.48–0.86, P < 0.05–0.0001) but the asymmetries in muscle parameters did not correlate with those in bone parameters. After adjustment for muscle volume or grip strength, BMC was still greater on the dominant side. This study showed that the greater BMC induced by long-term tennis playing at the dominant radius was associated to a marked increase in bone size and a slight improvement in volumetric BMD, thereby improving bone strength. In addition to the muscle contractions, other mechanical stimuli seemed to exert a direct effect on bone tissue, contributing to the specific bone response to tennis playing.

Impact of saltmarsh disturbance on seed quality of Sarcocornia (Sarcocornia quinqueflora), a food plant of an endangered Australian parrot

The article presents a study which evaluates the impact of saltmarsh perturbation on seed quality of Sarcocornia which is a food for the endangered Orange-bellied parrot in Australia. It notes the significant impact of grazing on the energy and availability of Sarcocornia seeds in saltmarshes and indicates that graze-free saltmarshes with regular inundation provide the highest potential for Sarcocornia seed availability. Further, the substantial factor of soil characteristics and salinity of flood water and inundation on the seed production of Sarcocornia is also discussed.

The impact of ownership structure on corporate debt policy : two stage least square simultaneous model approach for post crisis period : evidence from Kuala Lumpur Stock Exchange

Ownership concentration as a governance mechanism has received considerable attention among academician, practitioners as well as policy makers because large-block shareholders are increasingly active in their demands that corporations adopt effective governance mechanisms to control managerial decisions, which include corporate debt policy. Earlier study on the agency model of the firm widely recognizes that the managerial ownership and external debt play an important role in mitigating agency conflicts and enhancing firm value. They also found that increase in the external monitors, for example the institutional investors, can actually play a useful role in limiting agency problems in the firm. This paper, using 100 Composite Index companies from Brusa Malaysia between 1998 to 2002 explores the impact of institutional holdings on managerial ownership and debt policy in an integrated framework by using a simultaneous equations estimation procedure (2SLS). The findings show that there is a significant impact of institutional ownership which serves effective control mechanism on managerial ownership and corporate debt policy as hypothesized. Findings of such evidence suggest that institutional holding thus have played an important role in managers' strategic management decision and reduce agency conflict. In addition, corporate debt policy too is governed by managerial ownership and exhibited a negative relation.

Individuals' perceptions of the impact of art

This research explored the impact of art on individuals in order to enhance the likelihood that the benefits of art can be enjoyed by a broad range of individuals. Art was found to have a significant impact on individuals' wellbeing, emotions, relationships, and their perception of the world.

Estimating the contribution of carnivorous waterbirds to nutrient loading in freshwater habitats

1. We estimated nitrogen (N) and phosphorus (P) loading into wetlands by carnivorous waterbirds with alternative physiological models using a food-intake and an excreta-production approach. The models were applied for non-breeding and breeding Dutch inland carnivorous waterbird populations to quantify their contribution to nutrient loading on a landscape scale.

2. Model predictions based on food intake exceeded those based on excretion by 59–62% for N and by 2–36% for P, depending on dietary assumptions. Uncertainty analysis indicated that the intake model was most affected by errors in energy requirement, while the excretion model was dependent on faecal nutrient composition.

3. Per capita loading rate of non-breeders increased with body mass from 0.3–0.8 g N day⁻¹ and 0.15 g P day⁻¹ in little gulls Larus minutus to 4.5–11.5 g N day⁻¹ and 2.1–3.2 g P day⁻¹ in great cormorants Phalacrocorax carbo. For breeding birds, the estimated nutrient loading by a family unit over the entire breeding period ranged between 17.6–443.0 g N and 8.6 g P for little tern Sterna albifrons to 619.6–1755.6 g N and 316.2–498.1 g P for great cormorants.

4. We distinguished between external (i.e. importing) and internal (i.e. recycling) nutrient loading by carnivorous waterbirds. For the Netherlands, average external-loading estimates ranged between 38.1–91.5 tonnes N and 16.7–18.2 tonnes P per year, whilst internal-loading estimates ranged between 53.1–140.5 tonnes N and 25.2–39.2 tonnes P and per year. The average contribution of breeding birds was estimated to be 17% and 32% for external and internal loading respectively. Most important species were black-headed gull Larus ridibundus and mew gull Larus canus for external loading, and great cormorant and grey heron Ardea cinerea for internal loading.

5. On a landscape scale, loading by carnivorous waterbirds was of minor importance for freshwater habitats in the Netherlands with 0.26–0.65 kg N ha⁻¹ a⁻¹ and 0.12–0.16 kg P ha⁻¹ a⁻¹. However, on a local scale, breeding colonies may be responsible for significant P loading.

'Becoming a supervisor' : the impact of doctoral supervision on supervisors' learning

The doctorate is an educative process for students but what is its impact on supervisors' learning about the practice of doctoral supervision? Internationally, there is an increased emphasis on formal training, monitoring and accountability of doctoral supervisors. Yet there is a striking silence about what doctoral supervisors learn through supervising doctoral students, and how the impacts on supervisors might be theorised. The aim of this article is to begin to address this gap in the doctoral education literature, based on a thematic analysis of two complementary interview studies of a cross-disciplinary sample of experienced doctoral supervisors. The analysis illustrates the significant impact of doctoral supervision on the learning and knowledge of doctoral supervisors, particularly in relation to how supervisors engage with/in the social and political context of their university, understand themselves and their students, and how the contemporary context of supervision affects the sort of pedagogical relationships supervisors establish with their doctoral students. Regardless of supervisors' discipline, position in the academic hierarchy or supervisory experience, the analysis indicates that supervisors' learning experiences shape their subjectivities and identities, and that supervision is an ongoing ontological process of ‘becoming a supervisor’. The importance of integrating a theory of ‘becoming a supervisor’ into supervisor professional development is proposed.

Efflux pumps of Mycobacterium tuberculosis play a significant role in antituberculosis activity of potential drug candidates

Active efflux of drugs mediated by efflux pumps that confer drug resistance is one of the mechanisms developed by bacteria to counter the adverse effects of antibiotics and chemicals. To understand these efflux mechanisms in Mycobacterium tuberculosis, we generated knockout (KO) mutants of four efflux pumps of the pathogen belonging to different classes. We measured the MICs and kill values of two different compound classes on the wild type (WT) and the efflux pump (EP) KO mutants in the presence and absence of the efflux inhibitors verapamil and L-phenylalanyl-L-arginyl-β-naphthylamide (PAβN). Among the pumps studied, the efflux pumps belonging to the ABC (ATP-binding cassette) class, encoded by Rv1218c, and the SMR (small multidrug resistance) class, encoded by Rv3065, appear to play important roles in mediating the efflux of different chemical classes and antibiotics. Efflux pumps encoded by Rv0849 and Rv1258c also mediate the efflux of these compounds, but to a lesser extent. Increased killing is observed in WT M. tuberculosis cells by these compounds in the presence of either verapamil or PAβN. The efflux pump KO mutants were more susceptible to these compounds in the presence of efflux inhibitors. We have shown that these four efflux pumps of M. tuberculosis play a vital role in mediating efflux of different chemical scaffolds. Inhibitors of one or several of these efflux pumps could have a significant impact in the treatment of tuberculosis. The identification and characterization of Rv0849, a new efflux pump belonging to the MFS (major facilitator superfamily) class, are reported.

Impact of depression treatment on mental and physical health-related quality of life of cardiac patients : a meta-analysis

PURPOSE: To conduct a meta-analysis evaluating the effectiveness of depression treatment on mental and physical health-related quality of life (HRQOL) of cardiac patients.

METHODS: Studies were identified using medical, health, psychiatry, psychology, and social sciences databases. Inclusion criteria were (1) 1 or more control conditions, (2) random assignment to condition after admission for myocardial infarction (MI)/acute coronary syndrome, after recording positive results on a depression screener, (3) documentation of depression symptoms at baseline, (4) depression management as a component of the rehabilitation/intervention, (5) validated measure of HRQOL as an outcome, at minimum 6-month followup. For meta-analysis, mental and physical HRQOL were the end points studied, using standardized mean differences for continuous outcome measures, with 95% confidence intervals. Heterogeneity was explored by calculating I2 statistic.

RESULTS: Five randomized controlled trials included in the analysis represented 2105 participants (1058 intervention vs 1047 comparator). Compared with a comparator group at 6 months, a test for overall effect demonstrated statistically significant improvements in mental HRQOL in favor of the intervention (standardized mean differences = −0.29 [−0.38 to −0.20], [P < .00001]; I2 = 0%). Depression treatment had a modest yet significant impact on physical HRQOL (standardized mean differences = −0.14 [−0.24 to −0.04] [P = .009]; I2 = 15%).

CONCLUSION: While the impact of post-MI depression interventions on physical HRQOL is modest, treatment can improve mental HRQOL in a significant way. Future research is required to develop and evaluate a program that can achieve vital improvements in overall HRQOL, and potentially cardiovascular outcomes, of cardiac patients.

Impact of climate change on thermal comfort and energy performance in offices - a parametric study

This paper investigates the impact of climate change on comfort and energy performance in offices in relation to the influence of building design and occupants. It focuses on a typical cellular office room in the context of Athens, Greece, as input for a parametric study using the building simulation software EnergyPlus. Three different building design variations are combined with two different occupant scenarios and 4 different weather data sets for IPCC climate change scenario A2.

For naturally ventilated buildings adaptive thermal comfort is evaluated according to ASHRAE Standard 55 and EN 15251. For mixed mode context evaluation is focused on greenhouse gas emissions and peak heating / cooling loads. Results indicate significant impact of the climate change on thermal comfort, and deviations between both comfort models. Comparing climate change, building design and occupant scenarios indicates that building design is the predominant influence on thermal comfort, whereas occupants are the predominant influence on greenhouse gas emissions.

Impact of SCIG and DFIG type wind turbine on the stability of distribution networks: Static and dynamic aspects

This paper presents potential barriers to integrate the squirrel cage induction generator (SCIG) and doubly fed induction generator (DFIG) type wind turbine in distribution networks. The analysis is carried out over a 16 bus distribution test system. Both static and dynamic analyses are performed to see the impact of two different generators on the distribution system. The simulation results show that both SCIG and DFIG type wind turbines have significant impact on the static voltage stability, power loss, and dynamic behavior of the system, which should be taken into account to improve systems performance before integrating wind generation in existing distribution networks.

Limited effect of fly-wheel and spinal mobilization exercise countermeasures on lumbar spine deconditioning during 90 d bed-rest in the Toulouse LTBR study

We examined the effect of high-load fly-wheel (targeting the lower-limb musculature and concurrent loading of the spine via shoulder restraints) and spinal movement countermeasures against lumbar spine muscle atrophy, disc and spinal morphology changes and trunk isokinetic torque loss during prolonged bed-rest. Twenty-four male subjects underwent 90 d head-down tilt bed-rest and performed either fly-wheel (FW) exercises every three days, spinal movement exercises in lying five times daily (SpMob), or no exercise (Ctrl). There was no significant impact of countermeasures on losses of isokinetic trunk flexion/extension (p≥0.65). Muscle volume change by day-89 of bed-rest in the psoas, iliacus, lumbar erector spinae, lumbar multifidus and quadratus lumborum, as measured via magnetic resonance imaging (MRI), was statistically similar in all three groups (p≥0.33). No significant effect on MRI-measures of lumbar intervertebral disc volume, spinal length and lordosis (p≥0.09) were seen either, but there was some impact (p≤0.048) on axial plane disc dimensions (greater reduction than in Ctrl) and disc height (greater increases than in Ctrl). MRI-data from subjects measured 13 and 90-days after bed-rest showed partial recovery of the spinal extensor musculature by day-13 after bed-rest with this process complete by day-90. Some changes in lumbar spine and disc morphology parameters were still persistent 90-days after bed-rest. The present results indicate that the countermeasures tested were not optimal to maintain integrity of the spine and trunk musculature during bed rest. © 2011 Elsevier Ltd.

The impact of perceived corporate social responsibility on organizational commitment and the moderating role of collectivism and masculinity: evidence from China

This study examines the relationship between employee perceptions of corporate social responsibility practices and their organizational commitment. Hierarchical regression analysis was utilized to analyze survey data on 280 employees from five export-oriented manufacturing firms in China. Employee perceptions of corporate social responsibility practices towards internal stakeholders were found to relate positively to their organizational commitment. In contrast, employee perceptions of corporate social responsibility practices to external stakeholders had a nonsignificant or marginally significant impact on organizational commitment. In addition, the collectivism and masculinity orientations of employees were found to moderate this relationship. These findings provide an insight into how corporate social responsibility practices may be utilized to motivate diverse groups of employees within China-based organizations. © 2013 Taylor & Francis.

The impact of public capital and public investment on economic growth: an empirical investigation

in this anicle we measure the impact of public sector capital and investment on economic growth. Initially, traditional growth accounting regressions are run for a cross-country data set. A simple endogenous growth model is then constructed in order to take into account the determinants of labor, private capital and public capital. In both cases, public capital is a separate argument of the production function. An additional data-set constructed with quarterly American data was used in the estimations of the growth mode!. The results indicate lhat public capital and public investment play a significant role in determining growth rates and have a significant impact on capital and labor returns. Furthermore, the impact of public investment on productivity growth was found to be positive and always significant for bolh samples. Hence. in a fully optimizing modelo we confmn previous results in the literature that lhe failure of public investment to keep pace with output growlh during the Seventies and Eighties may have played a major role in the slowdown of lhe productivity growth in the period. Anolher main outcome concems the output elasticity wilh respect to public capital. The coefficiem estimates are always positive and significant but magnitudes depend on each of lhe two data set used.