scholarly journals An Economic Efficiency Approach to Reforming Corporate Governance: The Case of Multiple Stakeholder Boards

2017 ◽  
Vol 4 (2) ◽  
pp. 387-404
Author(s):  
Say H. GOO
Keyword(s):  
Multinational Corporations ◽  
Economic Efficiency ◽  
Allocative Efficiency ◽  
Unintended Consequences ◽  
Law Reform ◽  
Stakeholder Interests ◽  
Corporate Decisions ◽  
Multiple Stakeholder ◽  
The Board Of Directors ◽  
History Of

AbstractThis paper points out the problems of the current law on directors’ duties that forces directors to ignore stakeholder interests, with the unintended consequences of misallocation of resources and the weaknesses of a traditional legal approach to law reform, and uses multiple stakeholder boards as an example to demonstrate how an economic efficiency approach to law reform, adopting economic principles, could avoid some of the unintended consequences of a legal approach to law reform and help design better rules that promote allocative efficiency for the benefit of society as a whole. It argues that international organizations should take the lead in promoting the use of stakeholder directors in the board of directors of multinational corporations that have a history of corporate abuses for corporate decisions that have an impact on all stakeholders.

Transocean and the History of Tax Inversions

2018 ◽  
Vol 34 (1) ◽  
pp. 1-12
Author(s):  
Susan M. Albring ◽  
Randal J. Elder ◽  
Mitchell A. Franklin
Keyword(s):  
Multinational Corporations ◽  
Economic Impacts ◽  
Income Taxes ◽  
Tax Rates ◽  
Corporate Tax ◽  
Corporate Income Taxes ◽  
History Of ◽  
Jobs Act ◽  
The U.S ◽  
Over Time

ABSTRACT The first tax inversion in 1983 was followed by small waves of subsequent inversion activity, including two inversions completed by Transocean. Significant media and political attention focused on transactions made by U.S. multinational corporations that were primarily designed to reduce U.S. corporate income taxes. As a result, the U.S. government took several actions to limit inversion activity. The Tax Cuts and Jobs Act of 2017 (TCJA) significantly lowered U.S. corporate tax rates and one expected impact of TCJA is a reduction of inversion activity. Students use the Transocean inversions to understand the reasons why companies complete a tax inversion and how the U.S. tax code affects inversion activity. Students also learn about the structure of inversion transactions and how they have changed over time as the U.S. government attempted to limit them. Students also assess the tax and economic impacts of inversion transactions to evaluate tax policy.

Juvenile Justice

2017 ◽  
Author(s):  
Asha Bajpai
Keyword(s):  
Civil Society ◽  
Juvenile Justice ◽  
United Nations ◽  
International Law ◽  
Law Reform ◽  
Child Victims ◽  
Present Stage ◽  
Alternative Care ◽  
Need Of Care ◽  
History Of

This chapter deals with those children in especially difficult circumstances that are vulnerable, marginalized, destitute, and neglected and deprived of their basic rights. It commences with a history of the Juvenile Justice legislation in India right from the Children’s Act of 1960s to the current Juvenile Justice (Care and Protection of Children) Act, 2015. The barriers faced in the administration and implementation of the Juvenile Justice legislation throughout its evolution to its present stage is discussed in detail. How the law deals with children in need of care and protection and children in conflict with law are discussed in this chapter. Landmark judgements by courts and suggestions for further law reform are included. This chapter also contains international law relating to administration of juvenile justice, and United Nations guidelines in matters in matters involving child victims and witnesses of crime including UN Guidelines on Alternative Care of Children. Some civil society interventions are also included.

Australia

2018 ◽  
Author(s):  
Katherine Bode
Keyword(s):  
Multinational Corporations ◽  
Publishing Industry ◽  
Book Publishing ◽  
Social Changes ◽  
History Of ◽  
The 1950S ◽  
Australian Literature

This chapter on the history of book publishing in Australia divides Australian novel publishing since 1950 into three periods: the 1950s and 1960s, the 1970s and 1980s, and the 1990s to the present. During the 1950s and 1960s, British companies dominated the publication of Australian novels and publishing decisions were predominantly made overseas, but the period also witnessed a ‘local publishing boom’, driven by the belief in the importance of Australian literature and publishing. The 1970s and 1980s saw the growth of a vibrant local publishing industry, supported by cultural nationalist policies and broad social changes. At the same time, the significant economic and logistical challenges of local publishing led to closures and mergers, and — along with the increasing globalization of publishing — enabled the entry of large, multinational corporations into the market. This latter trend, and the processes of globalization and deregulation, continued in the 1990s and beyond.

Nurses and Prescriptive Authority: A Legal and Economic Analysis

1989 ◽  
Vol 15 (2-3) ◽  
pp. 245-299 ◽  
Author(s):  
Elizabeth Harrison Hadley
Keyword(s):  
Health Care ◽  
Drug Therapy ◽  
Economic Efficiency ◽  
Health Care Professionals ◽  
Legal Authority ◽  
Economic Implications ◽  
Health Care Professions ◽  
Prescriptive Authority ◽  
Complementary Role ◽  
History Of

This article identifies twenty-six jurisdictions where nurses have been granted legal authority to prescribe drugs. The jurisdictions are divided into two groups: those where nurses have authority to prescribe without the supervision of a physician and can therefore function as substitutes for physicians; and those where nurses may prescribe only in collaboration with a supervising physician, and are thereby limited to functioning in a complementary role.The issue of prescriptive authority is discussed within the context of regulating the practice of nursing, and more generally, the health care professions. The article reviews the history of Nurse Practice Acts, focusing upon the Connecticut statute and the economic implications of this statutory approach. It is argued that the law should promote the use of nurses as substitutes for physicians whenever appropriate.The article concludes with a two-part proposal for reform: an “authorized prescriber” statute requiring health care professionals desiring to prescribe drugs to pass an examination testing their knowledge of pharmacology and drug therapy; and the elimination of the “unauthorized practice” provisions of the statutes regulating all health care professions. The proposal promotes economic efficiency by eliminating artificial constraints on the substitutability of labor in the provision of health services.

scholarly journals Impact of Irrigation Ecology on Rice Production Efficiency in Ghana

2018 ◽  
Vol 2018 ◽  
pp. 1-10 ◽  
Author(s):  
John Kanburi Bidzakin ◽  
Simon C. Fialor ◽  
Dadson Awunyo-Vitor ◽  
Iddrisu Yahaya
Keyword(s):  
Economic Efficiency ◽  
Production Efficiency ◽  
Positive Impact ◽  
Stochastic Frontier ◽  
Allocative Efficiency ◽  
Rice Production ◽  
Cross Sectional ◽  
Rice Farmers ◽  
Effect Regression ◽  
The Impact

Irrigation production is a means by which agricultural production can be increased to meet the growing food demands in the world. This study evaluated the effect of irrigation ecology on farm household technical, allocative, and economic efficiency of smallholder rice farmers. Cross-sectional data was obtained from 350 rice farmers across rain fed and irrigation ecologies. Stochastic frontier analyses are used to estimate the production efficiency and endogenous treatment effect regression model is used to estimate the impact of irrigation ecology on rice production efficiency. The impact of irrigation ecology on technical efficiency is about 0.05, which implies farmers producing under irrigation ecology are more technically efficient in their rice production than those in rain fed production. The impact of irrigation ecology on allocative efficiency is about 0.33, which shows that farmers participating in irrigation farming are more allocatively efficient in their rice production than those in rain fed production. The impact on economic efficiency is about 0.23, meaning that farmers participating in irrigation farming are more economically efficient in their rice production than those in rain fed production. Irrigation ecology has positive impact on production efficiency; hence farmers should be encouraged to produce more under irrigation for increased yield and profit.

Corporate governance failure at Ricoh India: rebuilding lost trust

2018 ◽  
Vol 8 (4) ◽  
pp. 1-20
Author(s):  
Sonu Goyal ◽  
Sanjay Dhamija
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
Multinational Corporations ◽  
Audit Committee ◽  
Governance Structure ◽  
Special Focus ◽  
Corporate Governance Structure ◽  
Content Type ◽  
External Auditors ◽  
The Board Of Directors

Subject area The case “Corporate Governance Failure at Ricoh India: Rebuilding Lost Trust” discusses the series of events post disclosure of falsification of the accounts and violation of accounting principles, leading to a loss of INR 11.23bn for the company, eroding over 75 per cent of its market cap (Financial Express, 2016). The case provides an opportunity for students to understand the key components of corporate governance structure and consequences of poor corporate governance. The case highlights the responsibility of the board of directors, audit committee and external auditors and discusses the changes required in the corporate governance structure necessary to ensure that such incidents do not take place. The case also delves into the classic dilemma of degree of control that needs to be exercised by the parent over its subsidiaries and freedom of independence given to the subsidiary board, which is a constant challenge all multinationals face. Such a dilemma often leads to the challenge of creating appropriate corporate governance structures for numerous subsidiaries. Study level/applicability The case is intended for MBA courses on corporate governance, business ethics and also for the strategic management courses in the context of multinational corporations. The case can be used to develop an understanding of the essential of corporate governance with special focus on the role of the board of directors, audit committee and external auditors. The case highlights the consequences and cost of poor corporate governance. The case can also be used for highlighting governance challenges in the parent subsidiary relationship for multinational corporations. The case can be used for executive training purposes on corporate governance and leadership with special focus on business ethics. Case overview This case presents the challenges faced by the newly appointed Chairman Noboru Akahane of Ricoh India. In July 2016, Ricoh India, the Indian arm of Japanese firm Ricoh, admitted that the company’s accounts had been falsified and accounting principles violated, leading to a loss of INR 11.23 bn for the financial year 2016. The minority shareholders were agitating against the board of directors of Ricoh India and were also holding the parent company responsible for not safeguarding their interest. Over a period of 18 months, Ricoh India had been in the eye of a storm that involved delayed reporting of financials, auditor red flags regarding accounting irregularities, a forensic audit, suspension of top officials and a police complaint lodged by Ricoh India against its own officials. Akahane needed to ensure continuity of Ricoh India’s business and also act quickly and decisively to manage the crisis and ensure that these incidents did not recur in the future. Expected learning outcomes The case provides an opportunity for students to understand the key components of corporate governance structure and consequences of poor corporate governance. More specifically, the case addresses the following objectives: provide an overview of corporate governance structure; highlight the role of board of directors, audit committee and external auditors; appreciate the rationale behind mandatory auditor rotation; appreciate the consequences of poor corporate structure; explore the interrelationship between sustainability reporting and transparency in financial disclosures of a corporation; understand management and governance of subsidiaries by multinational companies; and understand the response to a crisis situation. Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email [email protected] to request teaching notes. Subject code CSS 11: Strategy.

scholarly journals O BRASIL COMO “TERRENO DE EXPERIMENTAÇÃO” DA EXPERTISE GERENCIAL: A ATUAÇÃO DO CONSELHO DE REITORES DAS UNIVERSIDADES BRASILEIRAS (1966-1985)BRAZIL AS A "LABORATORY" FOR MANAGEMENT EXPERTISE: THE ROLE OF THE BOARD OF DIRECTORS OF BRAZILIAN UNIVERSITIES (1966-1985)

2021 ◽  
Vol 18 (1) ◽  
pp. 63
Author(s):  
Maria Caramez Carlotto ◽  
Sylvia Gemignani Garcia
Keyword(s):  
Contemporary Literature ◽  
Starting Point ◽  
Close Relationship ◽  
The Board Of Directors ◽  
The Usa ◽  
History Of ◽  
Managerial Knowledge ◽  
The 1950S ◽  
America Latina ◽  
The Military

Na literatura contemporânea sobre as transformações do ensino superior existe um forte consenso de que a expansão do saber gerencial foi um dos principais fatores que alterou sua dinâmica e organização interna. No caso do Brasil, são muitos os trabalhos que, seguindo essa percepção geral, apontam a estreita relação existente entre as políticas ditas “neoliberais” implementadas a partir da década de 1980, e a modernização gerencial difundida no país a partir de acordos de cooperação com os EUA durante os anos 1950 e 1960. No entanto, esses trabalhos, de modo geral, falham ao não conseguir mostrar, empiricamente, como se dá a relação entre esses dois momentos da história das políticas educacionais do país. O objetivo do presente trabalho é contribuir para a compreensão dessa relação a partir da análise de Yves Dezalay e Brynat Garth sobre o modo pelo qual a América Latina funcionou, nos anos 1950 e 1960, enquanto um “terreno de experimentação” de políticas que viriam a se difundir mundialmente nos anos 1980 e 1990. Para tanto, tomamos como objeto o Conselho de Reitores de Universidades Brasileiras (CRUB), no período que vai de 1966, ano da sua criação, até 1985, ano que marca o fim do regime militar, analisando tanto o conjunto de acordos internacionais então firmados pelo CRUB, quanto o resumo das suas principais atividades, e o perfil da sua diretoria executiva no período analisado.ABSTRACT In the contemporary literature on the transformations of higher education there is a strong consensus that the expansion of managerial knowledge was one of the main factors that altered its dynamics and internal organization. In the case of Brazil, there are many studies that, following this general perception, point to the close relationship between the so-called “neoliberal” policies implemented since the 1980s and the managerial modernization diffused in the country through cooperation agreements with the USA during the 1950s and 1960s. However, these works generally fail to show the relationship between these two moments in the history of educational policies in the country empirically. The objective of the present work is to contribute to the understanding of this relationship using, as a starting point, the analysis of Yves Dezalay and Brynat Garth on how Latin America functioned in the 1950s and 1960s as a “laboratory” of policies that would begin to spread worldwide in the 80s and 90s. To this end, we investigate the Council of Rectors of Brazilian Universities (CRUB) in the period from 1966, the year of its creation, until 1985, the year that marks the end of the military regime, analyzing both the set of international agreements signed by the CRUB during the period as well as the summary of its main activities and the profile of its executive board in this period of time.

scholarly journals ANALYSIS OF TECHNICAL, ALLOCATIVE AND ECONOMIC EFFICIENCIES OF YAM PRODUCERS IN GANYE LOCAL GOVERNMENT AREA OF ADAMAWA STATE, NIGERIA

2020 ◽  
Vol 6 (7) ◽  
pp. 129-143
Author(s):  
A. Aliyu ◽  
A. B Shelleng
Keyword(s):  
Local Government ◽  
Technical Efficiency ◽  
Economic Efficiency ◽  
Best Practice ◽  
Allocative Efficiency ◽  
Local Government Area ◽  
Efficiency Gain ◽  
Average Output ◽  
Absolute Efficiency ◽  
The Mean

The study investigated the technical, Allocative and economics efficiencies of yam producers in Ganye Local government Area, Adamawa State, Nigeria. Combinations of purposive and random sampling techniques were employed using 100 famers from five different wards of the local government. In the first place, five wards were selected and used for this study and twenty farmers were selected from each ward, making a total of 100 famers, twenty. The analytical tool used to achieve the objectives of this study was Data Envelopment Analysis. The results of the study revealed that 57% of the farmers had technical efficiency of 0.81 and above while 43% of the farmers operate at less than 0.81 efficiency level. The mean technical efficiency for the 100 sampled farmers in the study area was 0.78. The farmer with the best practice has a technical efficiency of 1.00 while 0.37 is for the least efficient farmers. This implies that on the average, output fall by 0% from the maximum possible level of 1.00 due to technical inefficiency. The mean allocative efficiency was 0.98. The result indicates that average yam farmer in the state would enjoy cost saving of about 5% while allocative inefficient farmer will have an efficiency gain of 95% to attain the level of most efficient farmer among the respondents. The mean economic efficiency was 0.77. The farmer with the best practice has an economic efficiency of 1.0 while 0.08 was for the least efficient farmers. This implies that on the average, output fall by 52% from the maximum possible level due to inefficiency. Finally, among the constraints identified in the study area, the majority of the respondent attested to the fact that high cost of inputs, transportation problem, lack of credit facilities and storage/preservation problem were the major constraints they faced in yam production in the area. The study concludes that yam farmers in the study area have achieved absolute efficiency in the use of variable inputs. It was found that yam production in the study area is profitable.

scholarly journals Bessere Rechtsetzung im europäischen Vergleich

2020 ◽  
Author(s):  
Antonia Schurig
Keyword(s):  
Unintended Consequences ◽  
The Political ◽  
Independent Expert ◽  
History Of ◽  
The Impact ◽  
Academic Debate ◽  
Critical Friend

In order to calculate the unintended consequences of their policies, governments conduct comprehensive assessments of the impact of legislation. In doing so, they have independent expert committees monitor them on an increasingly frequent basis. However, in what ways do these committees have an influence in this respect? And what role do they play as policy advisors in terms of dismantling bureaucracy and better legislation? This book provides new insights into the history of the development of the three most experienced supervisory bodies in Europe and the reality of how they conduct themselves. Against the backdrop of various administrative cultures, the book presents the following types of supervisory committees in detail: ‘watchdog’, ‘gatekeeper’ and ‘critical friend’. Its findings intensify the political and academic debate on the performance and efficiency of supervisory bodies.

Gambling with the Future

2016 ◽  
Author(s):  
Peter Dauvergne
Keyword(s):  
Multinational Corporations ◽  
Business Strategy ◽  
New Technologies ◽  
Corporate Sustainability ◽  
General Motors ◽  
Environmental Rhetoric ◽  
Air Conditioners ◽  
History Of ◽  
Precautionary Measures ◽  
Corporate Social

This chapter brings to light the risks – and at times grave costs – for human health and ecosystems of companies introducing new technologies and products to compete for profits and markets. New technologies and products can cast dark ecological shadows onto distant ecosystems, poor communities, and future generations. Sometimes these shadows arise from genuine ignorance, as with chlorofluorocarbons (CFCs) drifting skyward from refrigerators, hairsprays, and air conditioners to deplete the ozone layer. But other times these shadows arise from arrogance and intentional risk-taking, as in the 1920s when Thomas Midgley, Jr., working for General Motors and DuPont, put tetraethyl lead into gasoline. As this chapter shows, corporations have a long history of deploying anti-environmental rhetoric to subvert calls for precautionary measures. Since the mid-2000s, however, the executives of multinational corporations have been avoiding straightforward greenwash, preferring a rhetoric of corporate sustainability and corporate social responsibility. To some extent this eco-business strategy is improving efficiency and reducing waste (on a per product basis), but it is not translating into a stronger precautionary approach for the introduction of new technologies and products.

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