Corporate Governance Reform in Australia: A New Institutional Approach

From an international perspective, Australia has been one of the leading jurisdictions for corporate governance reform. Its first corporate governance code predates the Cadbury Report, and Australia is also one of the few countries internationally to have been only marginally affected by the recession that ensued after the Global Financial Crisis. Considerable governance reform has occurred since 2007–8 in Australia, however; much of it occasioned by pressure brought to bear by institutional investors as a reaction to both traditional governance failings and also social and environmental concerns such as a growing awareness of climate change. Institutional influence is primarily associated with the compulsory retirement income system that emerged in the 1980s in light of an economy‐wide union campaign. While governance structures are becoming more homogenous, institutional logics reflecting trustees’ concerns are driving and shaping this ongoing process. A new approach to corporate engagement has emerged under the influence of investor representative bodies such as the Australian Council of Superannuation Investors that is driving corporate governance change.     

Well-being inequality and reference groups: an agenda for new research

In this paper it is argued that subjective well-being (SWB) of the individual depends on two types of variables. The first type consists of characteristics of the individual himself, such as age, health, income, etc. The second type of variables consists of the characteristics of the individuals belonging to his reference group. The vast literature about happiness, quality of life, and well-being informs us extensively about the effects of objective variables. How the second type affects well-being is much less investigated. It is argued that the concept of well-being inequality cannot be properly defined without taking the referencing process into account. The reference effect depends on how frequently individuals compare with others and on the degree of social transparency in society. We attempt to give a structural embedding of the idea of reference groups in SWB-models. In this paper we employ the reference-extended model for incorporating in happiness studies the concept of inequality in happiness or SWB. Finally, we plead for an extension of the present happiness paradigm by setting up a new additional agenda for empirical research in order to get quantified knowledge about the referencing process. As a first step we suggest a new question module to be included in new survey questionnaires.     

Estimates of induced abortion in urban North Carolina

In 1965, Warner developed an interviewing procedure designed to eliminate evasive answer bias when questions of a sensitive nature are asked. He called the procedure ‘randomized response.’ The authors have been studying the technique for several years and, in this paper, are reporting some of the estimates of induced abortion in urban North Carolina using randomized response. Estimates of the proportion of women having an abortion during the past year among women 18–44 years of age are reported. For the study population indices were developed relating induced abortion to total conceptions for whites and nonwhites. The illegal abortion rate per 100 conceptions was estimated to be 14.9 for whites and 32.9 for nonwhites. Estimates of the proportion of women having an abortion during their lifetime among women 18 years old or over are also shown. Among ever married women, the proportion having an abortion during their lifetime declined as education increased. Estimates were high for women with 5 or more pregnancies. Most of the respondents stated that they were satisfied that the randomized response approach would not reveal their personal situation. Furthermore, they did not think their friends would truthfully respond to adirect question regarding abortion.     

The Compensating Income Variation of Social Capital

There is a small but growing literature on the determinants of social capital. Most of these studies use a measure of trust to define social capital empirically. In this paper we use three different measures of social capital: the size of the individual’s social network, the extent of their social safety net and membership of unions or associations. A second contribution to the literature is that we analyze what social capital contributes to our well-being. Based on this, we calculate the compensating income variation of social capital. We find differences in social capital when we differentiate according to individual characteristics such as education, age, place of residence, household composition and health. Household income generally has a statistically significant effect. We find a significant effect of social capital on␣life␣satisfaction. Consequently, the compensating income variation of social capital is substantial. Thanks to Tijl Woortman for his research assistance.     

Good Practice in the Education of Children in Residential Care

Correspondence to The Directors, New Horizons (Child Care) Ltd., Unit B, Silkmoor, New Street, Frankwell, Shrewsbury, Shropshire SY3 8LN, UK. E-mail info{at}new-horizonschildcare.co.uk Summary Research shows that the education of children in residentialcare is generally poor, in terms of both process and outcome.This has highlighted the uncertainty over how best to educatethese children and a pessimism over what they can achieve. Drawingupon the findings of an evaluation of a children’s home,this paper argues that children in residential care can havegood educational outcomes. It also shows that it is possibleto identify the processes by which these outcomes can be broughtabout. However, this largely positive assessment is predicatedupon education being defined broadly in respect of ‘process’and ‘outcome’. Moreover, it is important not tounderestimate the formidable challenges inherent in this work.While the multi-agency nature of this work gives rise to oneof the most significant, it has to be recognized that responsibilityfor the education of children in residential care falls primarilyto children’s homes. If children’s homes are tomeet the increasing expectations that are being made of them,national and local government will have to undertake a radicaltransformation of residential childcare, especially in termsof attitudes towards, and resources invested in, this sector.Central to this is the establishment of a qualified and properlysupported workforce.     

Informant accuracy in social-network data V. An experimental attempt to predict actual communication from recall data

This paper seeks to discover whether the known inaccuracy of informant recall about their communication behavior can be accounted for by experimentally varying the time period over which recall takes place. The experiment took advantage of a new communications medium (computer conferencing) which enabled us to monitor automatically all the interactions involving a subset of the computer network. The experiment itself was administered entirely by the computer, which interviewed informants and recorded their responses. Variations in time period failed to account for much of the inaccuracy, which continues, as in previous experiments at an unacceptably high level. One positive finding did emerge: although the informants did not know with whom they communicated, the informants en masse seemed to know certain broad facts about the communication pattern. All other findings were negative. For example, it is impossible to predict the people an informant claimed to communicate with but did not; and it is impossible to predict who the five people are that an informant forgot to mention that she or he had communication with. Thus, despite their presumed good intentions, our findings here confirm what we have learned from six previous experiments: What people say about their communications bears no resemblance to their behavior. This suggests that other forms of data gathering, based on questions which require that informants recall their behavior, may well be suspect.     

Mathematical Methods in Combatting Terrorism

This document is a preliminary report on the role that mathematical and statistical methods might play in the defense against terrorist attacks. In no way does this replace the efforts of law enforcement agencies or intelligence activities. The hope is that mathematical techniques can make their efforts more efficient. The ideas enumerated here utilize the notion of probabilistic risk analysis, which was developed for the purpose of assessing the safety of nuclear reactors, as well as randomization and game theory. More extensive work in these directions is contemplated for the future. The author is planning workshops to evaluate the ideas presented here and to elicit additional methodologies that may prove useful in this endeavor.     

Probabilistic Risk Assessment of Wastes Buried in the Ground

The differences between probabilistic risk assessment (PRA) and safety analysis (SA) are discussed, and it is shown that PRA is more suitable than SA for determining the acceptability of a technology. Since a PRA by the fault tree-event tree analysis method used for reactor safety studies does not seem to be practical for buried waste, an alternative approach is suggested using geochemical analogs. This method is illustrated for the cases of high-level and low-level radioactive waste and for chemical carcinogens released in coal burning.     

Fostering diversity: Graduate study in sociology at Northwestern University

Among major graduate sociology programs, Northwestern University halances quantitative and qualitative approaches in its diverse offerings. The program is student-centered and emphasizes the participation of the student in the definition of intellectual and career objectives. The core program is compact and concentrated in the first year so that students can develop their own research interests in subsequent years, with close faculty supervision and involvement. Students who are self-motivated and have well-developed intellectual interests generally thrive at Northwestern University. He currently is working in historical and comparative sociology, and recently has published a book entitledThe Comparative Method: Moving Beyond Quantitative and Qualitative Strategies. His recent publication, “On the Politics of Speaking in the Name of Society,” was his presidential address to the Society for the Study of Social Problems.