The Legal and Institutional Foundations of Silicon Valley’s Technological Innovation: An Interdisciplinary Literature Review

This article reviews interdisciplinary literature to explain how state legislation and the practice of law in California influenced the success of Silicon Valley in creating a startup business culture involving the commercialization of technologies built on venture capital finance. Scholarship has identified four major factors in the rise of Silicon Valley: business culture, symbiotic institutional relations with research universities, California contract and employment law, and Silicon Valley law firm culture. Both law and institutional support have been central to the commercialization of scientific knowledge that is the hallmark of Silicon Valley. Silicon Valley companies have remained leaders in technological innovation for over sixty years, encompassing various technologies from semiconductors to personal computers to the Internet. This entrepreneurial approach to technology continues to this day as exemplified by the successful DoorDash and Airbnb IPOs launched in 2020. The paradigmatic Silicon Valley technology company consists of a small group of entrepreneurs building a start-up technology company funded by a venture capital fund. The venture capitalists (VC) maintain hands-on management of the company and receive seats on the board of director and preferred stock rights. If the business plan is successful, the company offers shares to the public through an initial public offering (IPO), or arranges additional funding from another VC fund. This Silicon Valley model is characterized by a tolerance for failure and high labor mobility. Technology company employees have the freedom to leave established companies to start their own ventures.

Gender Diversity on the Board of Director and Firm Performance: Agency Theory Perspective

Research aims: This paper provides a literature review on the influence of board of directors' gender diversity on financial and non-financial performance.Design/Methodology/Approach: This research used the content analysis identified from previous studies based on the proxies employed. The article selection process was carried out from reputable international journals published in 2017-2020, resulting in 50 articles discussing board gender diversity and performance.Research findings: This study's results are a conceptual model and future research developments. Research related to female directors and performance has been much carried out. Hence, future research suggests correlating female directors based on monitoring characteristics, human capital board, and demographics. The influence of gender diversity on non-financial performance is also rarely studied.Theoretical contribution/Originality: Identification of gender diversity attributes associated with financial and non-financial performancePractitioner/Policy implication: This study provides valuable information for policymakers or regulators to refine future corporate governance policies and increase understanding of the relationship between corporate governance practices and company performance as measured by financial and non-financial performance.Research limitation/Implication: This study is based on only 50 articles in the last four years.

The Effect Of Corporate Governance And Political Connections On The Application Of Conditional Conservatism (Study On Non-Financial Companies Registered In Indonesian Stock Exchange In 2012-2018)

This study aimed to examine the effect of corporate governance and political connections on the application of conditional conservatism. The sample in this study are non-financial companies listed on Indonesia Stock Exchange period 2012-2018. The number of samples in this study were 82 non-financial companies. Data analysis was performed with multiple regression analysis. The result of study showed that board of commissioner, audit committee size, audit committee independence, and institutional ownership have an effect on conditional conservatism. This study also has a result that political connections have a negatif influence on conditional conservatism. It means more higher the companies have indicated by political connections, the lower the application of conditional conservatism. Variable board of director, independence commissioner, auditor expertise, the quality of the accounting firm which is proxied by BIG4, and managerial ownership have no effect on conditional conservatism.

Ukuran Dewan Direksi, Aktivitas Komite Audit Dan Ukuran Komite Audit Terhadap Manajemen Laba

In accordance with the agency theory that management is responsible to the owner, so he will try to keep the performance of financial statements is always good and will act opportunistically to manage earnings if the performance of financial statements shows a decline. Therefore, the role of the board of director and audit committee is needed to protect the interests of the owner and manager. This study aims to investigate the effect of board of directors size, audit committee activities and the size of the audit committee on earnings management. This study uses a quantitative approach using secondary data from 322 samples of companies in the manufacturing sector during the period 2015-2017. The data collected was tested using multiple linear regression analysis techniques. This study produces findings that the size of the board directors have an insignificant negative effect on earnings management, the activities of the audit committee have a significant negative effect on earnings management and the size of the audit committee have an insignificant positive effect on earnings management. Keywords: Board Directors Size, Audit Committee Activities, Audit Committee Size, Earnings Management.

PERTANGGUNGJAWABAN DEVELOPER PERUMAHAN TERHADAP PEMBANGUNAN DI KAWASAN RESAPAN AIR PRESPEKTIF HUKUM NASIONAL DAN HUKUM ISLAM

This research is based on landslide that happened in Bojong Kondang village, Cimanggung sub-district, Sumedang regency; due to reckless development in sloping land. There are various permits and codes that need to be fulfilled and followed before a housing construction company builds constructions especially on a hillside as water catchment area. The company should adhere precautionary principle and applies a proper drainage system. This study aims to review Islamic law and national legislation regulate housing construction activities in water catchment areas. The other aim is to examine the responsibility of the company that caused landslides due to Cihanjuang Regency drainage construction. The study applied normative legal method and analytical descriptive specifications. The collected data in form of primary and secondary data were analyzed with systematic interpretation. This research concluded that according to the positive law, any company whose project is on sloping area should adhere the spatial zoning, take into consideration the geographical conditions and soil stability of the area. Both national and Islamic law stated that the company should guaranties and provides safety, benefit, and advantages for the people and environment. For the damage and casualties caused by the construction related landslide, the company is responsible to compensate the loss to the victims. In case the total payment exceeds the company’s assets, the company board of director shall compensate from personal assets if it is proven that there is an element of negligence in the decision making.Abstrak: Penelitian ini didasarkan pada kejadian longsor di Kampung Bojong Kondang, Kecamatan Cimanggung, Kabupaten Sumedang yang menyebabkan kerugian bagi masyarakat kampung tersebut. Longsor tersebut dipicu oleh ketidak-hati-hatian developer perumahan yang tengah melakukan pembangunan drainase di lahan miring. Penelitian ini bertujuan pertama untuk menelusuri ketentuan perundang-undangan dan Hukum Islam tentang pembangunan perumahan di lahan dengan kemiringan tertentu dan kawasan resapan air. Kedua, untuk mengkaji bagaimana pertanggung jawaban developer atas pembangunan drainase yang berdampak pada terjadinya longsor pada perumahan Cihanjuang Regency. Metode yang digunakan dalam penelitian ini adalah yuridis normatif, dengan spesifikasi deskritif analitis, yang bersumber dari data sekunder berupa buku, jurnal, dan wawancara, dengan metode analisis data berupa penafsiran sistematis. Hasil penelitian ini menyimpulkan, pertama, perusahaan dalam membangun proyek perumahan pada lereng harus memperhatikan zonasi tataruang, kondisi geografis dan kestabilan tanah. Sesuai dengan perundang-undangan dan hukum islam, bahwa perusahaan berkewajiban untuk memberikan keselamatan, kemanfaatan, serta kemaslahatan bagi manusia dan lingkungan. Kedua, pertanggung jawaban developer perumahan atas pembangunan drainase yang berdampak pada terjadinya longsor di Cihanjuang Regency berupa penggantian kerugian terhadap korban bencana longsor. Apabila penggantian kerugian melebihi aset yang dimiliki perusahaan, maka direksi perusahaan harus mengganti kerugian dari aset pribadi manakala terbukti terdapat kelalaian atas keputusan yang diambilnya.

Federalization of Corporate Governance

This chapter examines the federalization of corporate governance from both historical and contemporary perspectives. It addresses gaps in the corporate governance framework and recommends the implementation of improved standards on the federal levels. These recommendations focus on such timely matters as board of director composition, greater gender and racial diversity on corporate boards, employee representation on boards, adoption of director term limits, excessive executive compensation, the implementation of a more realistic definition of “independent director,” and shareholder access to a company’s proxy statement to nominate a specified number of directors. The chapter also posits that federal court invocation of state law principles to ascertain the parameters of the federal securities laws in the corporate governance sphere is misplaced in view of the entrenched federalization of corporate governance.

Trends in Leadership and Award Recognition Among Women in the American Society of Retina Specialists

Purpose: This work evaluates trends in achievement of women in the retina field, through an analysis of gender representation in the American Society of Retina Specialists (ASRS). Methods: This retrospective, longitudinal study spans 1983 to 2020. Historical data classified by male or female gender were collected from ASRS's overall membership, board of directors and officers, and recipients of the 4 society awards. The proportion of each benchmark held by women was compared with prior decades since the founding of ASRS using the Fisher’s exact test. Results: Women’s representation increased from 11% of ASRS members in 2007 to 19.7% in 2020. From 2010 to 2019, women received a higher proportion of society awards (21.1%) compared with membership prior to the start of that decade. In 2020, women were proportionally well represented in board of director positions (21.9%) and held a significantly higher proportion of board positions than in the period 1983 to 1989 ( P = .02). From 1983 to 2020, women held 4.3% (1 of 23) of presidencies. Conclusions: Although the number of women in retina is increasing, women remain underrepresented in the leadership of ASRS. Interventions to increase exposure to female mentorship and improve childcare benefits are warranted to engage female ophthalmology trainees in retina and ultimately society leadership.