Human capital and agency effects on CEO compensation of IPO biopharmaceutical firms and the market’s response

This paper examines the determinants of base pay and total incentive compensation packages of CEOs of biopharmaceutical firms that have recently gone public, and whether human capital and agency factors affect the market’s response to the initial public offering. We find that in terms of net proceeds, the IPO market appears to reward the firms that have founder-CEOs and CEOs with higher incentive compensation. CEOs with prior venture capital experience are associated with receiving higher incentive compensation, while CEOs with a greater ownership interest in the firm receive lower incentive compensation but higher salaries. CEOs of firms with a greater percentage of insiders are associated with lower salaries. The results should add to our understanding related to human capital and agency theories, as well as help firms and investors better understand and structure CEO compensation.     

Roadmap to recovery: Reporting on a research taskforce supporting Indigenous responses to COVID‐19 in Australia

In April 2020 a Group of Eight Taskforce was convened, consisting of over 100 researchers, to provide independent, research‐based recommendations to the Commonwealth Government on a “Roadmap to Recovery” from COVID‐19. The report covered issues ranging from pandemic control and relaxation of social distancing measures, to well‐being and special considerations for vulnerable populations. Our work focused on the critical needs of Aboriginal and Torres Strait Islander communities; this paper presents an overview of our recommendations to the Roadmap report. In addressing the global challenges posed by pandemics for citizens around the world, Indigenous people are recognised as highly vulnerable. At the time of writing Australia's First Nations Peoples have been largely spared from COVID‐19 in comparison to other Indigenous populations globally. Our recommendations emphasise self‐determination and equitable needs‐based funding to support Indigenous communities to recover from COVID‐19, addressing persistent overcrowded housing, and a focus on workforce, especially for regional and remote communities. These latter two issues have been highlighted as major issues of risk for Indigenous communities in Australia It remains to be seen how governments across Australia take up these recommendations to support Indigenous peoples' health and healing journey through yet another, potentially catastrophic, health crisis.     

Evaluating Potential Distribution of High‐Risk Aquatic Invasive Species in the Water Garden and Aquarium Trade at a Global Scale Based on Current Established Populations

Aquatic non‐native invasive species are commonly traded in the worldwide water garden and aquarium markets, and some of these species pose major threats to the economy, the environment, and human health. Understanding the potential suitable habitat for these species at a global scale and at regional scales can inform risk assessments and predict future potential establishment. Typically, global habitat suitability models are fit for freshwater species with only climate variables, which provides little information about suitable terrestrial conditions for aquatic species. Remotely sensed data including topography and land cover data have the potential to improve our understanding of suitable habitat for aquatic species. In this study, we fit species distribution models using five different model algorithms for three non‐native aquatic invasive species with bioclimatic, topographic, and remotely sensed covariates to evaluate potential suitable habitat beyond simple climate matches. The species examined included a frog (Xenopus laevis), toad (Bombina orientalis), and snail (Pomacea spp.). Using a unique modeling approach for each species including background point selection based on known established populations resulted in robust ensemble habitat suitability models. All models for all species had test area under the receiver operating characteristic curve values greater than 0.70 and percent correctly classified values greater than 0.65. Importantly, we employed multivariate environmental similarity surface maps to evaluate potential extrapolation beyond observed conditions when applying models globally. These global models provide necessary forecasts of where these aquatic invasive species have the potential for establishment outside their native range, a key component in risk analyses.     

Beyond Simple Differences: Moderators of Gender Differences in Heteronormativity

ABSTRACT

Heteronormativity is a culturally embedded system defining acceptable identities and behaviors in romantic relationships. Recent literature has suggested that heteronormativity is strongly associated with political attitudes, personality characteristics such as tolerance of ambiguity, and key demographic variables such as gender and sexual orientation. However, interactions between gender and other factors have not been thoroughly explored as predictors of heteronormative attitude and beliefs. The current study (N = 306) expands the understanding of predictors of heteronormativity, particularly as they interact with gender. In the current study, higher education was associated with lower heteronormativity among women, but not among men, and expressiveness was associated with lower heteronormativity among men, but not among women. Finally, a 3-way interaction showed that the relationship between education and heteronormativity for men (but not women) depended on trait expressiveness. Future studies are recommended, including observation of changes in heteronormativity over time and exploration of mechanisms that reinforce or reduce heteronormativity.     

Research Selectivity, Managerialism, and the Academic Labor Process: The Future of Nonmainstream Economics in U.K. Universities

This paper reports the results of empiricalresearch designed to explore the impact of researchselectivity on the work and employment of academiceconomists in U.K. universities.Research selectivityis seen as part of the general trend towardmanagerialism in higher education in both the U.K. andabroad. Managerialism based on performance indicatorsand hierarchical control has been contrasted withcollegiate control-based or informal peer review. However,analysis of the academic labor process has idealizedcollegiate relations at the expense of professionalhierarchies and intellectual authority relations. We argue that in the U.K., there has evolved amainstream economics which is located within awell-defined neoclassical core. We find that theexistence of lists of core mainstream journals which arebelieved to count most in the periodic ranking exerciseposes a serious threat to academic freedom and diversitywithin the profession, institutionalizing the controlwhich representatives of the mainstream exercise over both the academic labor process and jobmarket. In this way, managerialism combines with peerreview to outflank resistance to new forms ofcontrolling academic labor at the same time asreinforcing disciplinary boundaries through centralizedsystems of bureaucratic standardization andcontrol.     

Older People and Permanent Care: Whose Decision?

This paper looks at decision making when older people enterpermanent care, and focuses on power issues. The recent pastis reviewed and related to aspects of the current picture. Dementiaand capacity are a specific focus. The complexities of the workfor practitioners, together with their sometimes difficult workingenvironments, engender a climate which can be counter productiveto protecting the self-determination of older people.     

Energizing the ordinary: Biographical work and the future in stroke recovery narratives

Historically, the life course has been constructed as an organized and linear temporal progression. This holds true in various disciplines from education, to psychology, to counseling. The foundation of a life unfolding through temporal categorizations is documented in textbooks and theories that straddle these disciplines as well as many others, including the sociology of health and illness, which has often conceptualized the illness experience as embedded in a recovery trajectory.Here, we take this to task. Using Gubrium and Holstein's [Sociol. Inq. 65 (1995) 207; Gubrium, J., & Holstein, J., (1997). The new language of qualitative method. New York: Oxford University Press] analytic vocabulary of biographical work, we analyze narratives of stroke survivors by emphasizing the ordinary resources used as discursive foundations for the narrative production of the future in illness. Ordinary resources focused on include God and spirituality, comorbidities, and activity and leisure. The discussion is embedded in overarching concerns with “healthy aging” in gerontology and geriatrics.