Country-specific institutional effects on ownership: concentration and performance of continental European firms

This paper examines the effect of country-specific institutional constructs on the relationship between ownership concentration and performance for firms in the eight Continental European countries of Austria, Belgium, Germany, Spain, France, Italy, the Netherlands and Portugal. Using data from publicly-traded firms owned by other companies (i.e., blocks), measures of the quality of investor and creditor protection and the effectiveness of legal institutions are applied. Employing a hierarchical moderated multiple regression analysis, differential validity is established for the relationship between ownership concentration and performance as measured by return on shareholders’ funds. This differential effect comes from creditor protection regimes and is consistent with a relational corporate governance model based on debt finance and concentrated ownership.     

Federalism and the Implementation of Environmental Policy: Changing Trends in Canada and the United States

In a federal system of government, powers are shared by the national and sub-national units in accordance with the provisions of the Constitution. However, the process of policy implementation may differ on the basis of allocation of power and the nature of the system. Canada and the United States of America adopted federal systems of government, and faced similar pressures for implementing policies on environmental issues. Yet, the degree of success and outcome appear to be different due to variations in the strength of the respective federalist systems. An analysis of the various aspects of the federal system in the two countries reveals noticeable differences in institutional configurations, relationship between national and sub-national units, and variances in intra-institutional relations. All these have contributed to a divergence in the past, but there is an emerging trend of convergence as both the Canadian and American governments are gradually moving away from their existing patterns of policy implementation toward a new approach involving private-sector initiatives and self-enforcement with strong inclinations toward voluntarization, corporatization and marketization.     

Higher Education's Role in the Dialogue on Race

The university is a logical locus for discussionof the role race has played in our society. Perhaps noAmerican institution is more committed to free andopen dialogue than the university. Higher educationcan thus provide a context for the recognition ofissues as well as a forum for the resolution ofinitiatives. To date, however, university attempts atdiversity training have often imbued recipients withself-consciousness, usurping the unity implicit in theword `university' and evoking an even greater tendencytoward separatism. The university's traditional questfor truth has been subverted by a subtle and pervasivesense that some views are more correct than others,that openness is dangerous, and that some issues mighteven be taboo. At best, such an approach to diversityleads to a fragile stalemate among self-containedenclaves. By championing President Clinton's call fora dialogue on race, the university can restore itselfas an institution that puts honesty above all else.Not only is there a resonant rationale for theuniversity's central responsibility in this debate,but there is also a pedagogical means by which itsrole can be realized. This paper proposes a model forethnic dialogue relevant to either a text-based orissues-based class. Borrowing from pedagogy developedin professional schools, we believe that the tenets ofthe `case method' can create a climate conducive tothe substantive scrutiny of race, ethnicity, andprejudice in general. We argue that this dialogueshould not be a mere add-on to college life, butintegrated into existing curricula in the socialsciences, literature, and history. Heated debate canthen occur without anger, and race/ethnicity can bediscussed without fear of recrimination.Paradoxically, the very expression of ethnicity may bethe catalyst that eventually moves multiculturalismtoward interculturalism – where differences are nolonger articulated, measurable or even discernible.     

On tree representations of relations and graphs: symbolic ultrametrics and cograph edge decompositions

Tree representations of (sets of) symmetric binary relations, or equivalently edge-colored undirected graphs, are of central interest, e.g. in phylogenomics. In this context symbolic ultrametrics play a crucial role. Symbolic ultrametrics define an edge-colored complete graph that allows to represent the topology of this graph as a vertex-colored tree. Here, we are interested in the structure and the complexity of certain combinatorial problems resulting from considerations based on symbolic ultrametrics, and on algorithms to solve them.This includes, the characterization of symbolic ultrametrics that additionally distinguishes between edges and non-edges of arbitrary edge-colored graphs G and thus, yielding a tree representation of G, by means of so-called cographs. Moreover, we address the problem of finding “closest” symbolic ultrametrics and show the NP-completeness of the three problems: symbolic ultrametric editing, completion and deletion. Finally, as not all graphs are cographs, and hence, do not have a tree representation, we ask, furthermore, what is the minimum number of cotrees needed to represent the topology of an arbitrary non-cograph G. This is equivalent to find an optimal cograph edge k-decomposition \(\{E_1,\dots ,E_k\}\) of E so that each subgraph \((V,E_i)\) of G is a cograph. We investigate this problem in full detail, resulting in several new open problems, and NP-hardness results.For all optimization problems proven to be NP-hard we will provide integer linear program formulations to solve them.     

A characterization of linearizable instances of the quadratic minimum spanning tree problem

We investigate special cases of the quadratic minimum spanning tree problem (QMSTP) on a graph \(G=(V,E)\) that can be solved as a linear minimum spanning tree problem. We give a characterization of such problems when G is a complete graph, which is the standard case in the QMSTP literature. We extend our characterization to a larger class of graphs that include complete bipartite graphs and cactuses, among others. Our characterization can be verified in \(O(|E|^2)\) time. In the case of complete graphs and when the cost matrix is given in factored form, we show that our characterization can be verified in O(|E|) time. Related open problems are also indicated.     

Improved mixed-integer programming models for the multiprocessor scheduling problem with communication delays

We revise existing and introduce new mixed-integer programming models for the Multiprocessor scheduling problem with communication delays. The basis for both is the identification of two major modeling strategies one of which can be considered ordering-based, and the other assignment-based. We first reveal redundancies in the encoding of feasible solutions found in present formulations and discuss how they can be avoided. For the assignment-based approach, we propose new inequalities that lead to provably stronger continuous relaxations and better performance in practice. Moreover, we derive a third, novel modeling strategy and show how to more compactly linearize assignment formulations with quadratic constraints. In a comprehensive experimental comparison of representative models that reflect the state-of-the-art in terms of strength and size, we evaluate not only running times but also the obtained lower and upper bounds on the makespan for the harder instances of a large scale benchmark set.     

An $$O(|E(G)|^2)$$ algorithm for recognizing Pfaffian graphs of a type of bipartite graphs

A graph \(G=(V,E)\) with even number vertices is called Pfaffian if it has a Pfaffian orientation, namely it admits an orientation such that the number of edges of any M-alternating cycle which have the same direction as the traversal direction is odd for some perfect matching M of the graph G. In this paper, we obtain a necessary and sufficient condition of Pfaffian graphs in a type of bipartite graphs. Then, we design an \(O(|E(G)|^2)\) algorithm for recognizing Pfaffian graphs in this class and constructs a Pfaffian orientation if the graph is Pfaffian. The results improve and generalize some known results.     

The matching extension problem in general graphs is co-NP-complete

A simple connected graph G with 2n vertices is said to be k-extendable for an integer k with \(0<k<n\) if G contains a perfect matching and every matching of cardinality k in G is a subset of some perfect matching. Lakhal and Litzler (Inf Process Lett 65(1):11–16, 1998) discovered a polynomial algorithm that decides whether a bipartite graph is k-extendable. For general graphs, however, it has been an open problem whether there exists a polynomial algorithm. The new result presented in this paper is that the extendability problem is co-NP-complete.