Incorporation Of Groups Research Articles

Sourcing Mississippian pottery among the complex maritime cultures of Florida’s peninsular Gulf coast

In eastern North America after ca. AD 1050, the spread of Mississippian cultures sparked widespread transformations to economy, material culture, political structure, and ideology. “Mississippianization” influenced the politically complex maritime polities of Florida’s peninsular Gulf coast, but the lack of maize agriculture indicates changes played out differently than among many inland polities. Mississippian-style pottery sherds deposited widely in mounds and in middens at the largest administrative centers are perhaps the clearest evidence of connections to the Mississippian world. We conducted a provenance study using neutron activation analysis of 303 Mississippi Period pottery vessels from 18 sites on Florida’s peninsular Gulf coast to investigate how and from where coastal communities acquired Mississippian vessel forms, paste recipes, and iconography. The sample includes numerous Mississippian-related pottery types as well as Pinellas Plain, one of the local utilitarian wares. Four chemical groups are defined, three of which are local to the peninsular Gulf coast and one that is associated with the “Deep South,” defined here as the inland Florida panhandle and Chattahoochee River area of southern Georgia. Our results indicate that most Mississippian-style vessels were locally made but used clay sources different from some utilitarian wares such as Pinellas Plain. Using distinctive clays and paste recipes, local production of Mississippian vessels may have been controlled by competing kin-based corporate groups affiliated with each mound center. The widespread low frequency of nonlocal Mississippian sherds from the Deep South shows persistent connections to inland Fort Walton and Rood Phase polities, possibly in relation to training of coastal potters. A greater prevalence of pottery from the Deep South at Shell Creek (8LL8) at the southern edge of the sampling region may reflect a polity with greater success in acquiring prestige goods, perhaps associated with the strong and expansive political power of the Calusa.

Stock Incentive Schemes Spur Corporate Transformation

Corporate is the most active micro-subject in digital economy, and also the subject of research and development and application of digital technology. This article uses China’s 2007-2021 Shanghai and Shenzhen A-share listed companies and macro-economic datasets to empirically test the impact of stock incentive plan on corporate digital transformation. The results show that stock incentive can significantly drive the digital transformation, and this conclusion is still valid after a series of robustness tests. The promotion effect of stock incentive on corporate digital transformation is more obvious in the group of corporate with high shareholding ratio of short-term institutional investors, high ratio of analyst downgrade research report to the total research report and the questioned corporate group. Mechanism analysis shows that stock incentive reduces managerial myopia and facilitate corporate digital transformation. The research conclusions of this paper not only enrich the literature achievements related to stock incentive and corporate digital transformation, but also provide empirical evidence for the corporate decision-making and effectively promote the development of digital economy.

A Small Club: Distribution, Power and Networks in Financial Markets of Pakistan

1. THE STOCK MARKET THAT DOES NOT GROW!
 Pakistan’s stock market tends to make headlines, sometimes because of record highs * that make it the ‘best performing market of the region’, and sometimes because of the crashes. However, the degree to which it contributes to capital formation in the country is not a topic of study, while the ensuing ownership and governance structure is hardly ever made a part of public discourse.
 One such study concluded that “around 64 percent of the 44 selected sample companies are controlled by prominent business groups and families of Pakistan”. This paper extends the aforementioned research to cover the top 100 companies that constitute the benchmark KSE-100 index at the Pakistan Stock Exchange (PSX). It also analyses the structure of ownership and sponsor control of companies constituting the KSE-100, and their impact on the functioning and transparency of the stock market.
 Pakistan’s corporate governance and human resource management practices are frequently questioned in the media and academic circles. A common phenomenon is companies managed as family enterprises despite being listed on the stock exchange. The offspring of the owners tend to be absorbed into the management of these companies, which are referred to as ‘seth companies’, seth being the founder/owner of the company.
 The objective of this paper is twofold. The first is to shed light on corporate groups and their ownerships in the stock market. We review the ownership structures of the large conglomerates to examine the extent of diversification in the stock market. This also gives us an idea of the kind of power that large houses wield in the market, and the choices available to the small shareholder. Secondly, we look at corporate governance by looking at how company boards are structured and examine the influence of the owner and his family on the structure and professional management of the company.

Unbundling of the Electricity Distribution System Operator (DSO): Refining and Extending the EU Law Regime

The Clean Energy Package laid the foundations of a more sophisticated unbundling regime for distribution system operators (DSO’s) for electricity. In this article, I propose a systematic analysis of this new regime. I first distinguish vertical from horizontal unbundling. The latter is then further divided in those activities explicitly governed by EU energy law, and a residual category. This residual category amounts to a core business test on behalf of the DSO. Moreover, I propose to extend the EU unbundling regime for DSO in two ways. First, the scope should also cover entities in the same corporate group. Second, it should apply to specific financial burdens on the grid infrastructure for goals other than distribution activities. EU energy law, distribution system operator (DSO), electricity, unbundling, flexibility services, electromobility, energy storage, core business test

Cross-sectional evaluation of a large-scale antimicrobial stewardship trial in Australian companion animal practices.

Antimicrobial stewardship programmes (ASPs) are critically important for improving the appropriate use of antimicrobial agents in veterinary practice. One of three ASPs was implemented in 135 Australian general veterinary practices in 2018-2020. The ASP interventions and the perceived impact they had on antimicrobial prescribing were assessed by the veterinarians working in these veterinary practices. An online survey was distributed to all 520 veterinarians working in the trial practices and 267 responses were analysed. Most veterinarians (174/267, 65%) thought they had an ASP at their clinic and most respondents who said that they were aware that they had an ASP at their clinic indicated that they had changed the way they prescribed antimicrobials because of the trial (125/170, 74%). Antimicrobial prescribing guidelines, the traffic light system for indicating antimicrobial importance, delayed prescribing and antimicrobial stewardship champions were reported to have had the biggest impact. All practices in the trial belong to a single corporate group, which may impact the external validity of these results when applied to general small animal practice. Antimicrobial stewardship has a positive impact on antimicrobial prescribing in veterinary medicine and future interventions should focus on the implementation of the effective interventions identified in this study.

La evolución reciente de las exportaciones españolas de servicios no turísticos

RationaleThe strong growth in exports of non-travel services following the pandemic has contributed significantly to Spain’s economic recovery. It is therefore useful to analyse recent developments in these exports.Takeaways•The cumulative growth of real exports of non-travel services between 2020 and 2022 amounted to practically 50%. In 2022, they thus stood almost 20% above their 2019 level, a significantly larger gap than for other final demand components.•The recovery in non-travel services exports following the pandemic has boosted this item’s sustained growth of recent decades and has been mainly underpinned by exports of business, transport and IT services, especially to the euro area and North America.•The competitiveness of large Spanish exporting firms, which generally form part of corporate groups, might explain, at least in part, the robust growth in non-travel services exports after the pandemic.

Managing risk in corporate groups: Limited liability, asset partitioning, and risk compartmentalization

AbstractResearch SummaryLimited liability enables corporate parents to avoid financial responsibility of their subsidiaries. However, courts can disregard separate legal personality, “pierce the corporate veil,” and impose the debts of a subsidiary on its parent—an exception referred to as “enterprise liability.” We argue that in countries with weak enterprise liability, groups can better compartmentalize risks by incorporating more of their units as legally independent subsidiaries. Weaker enterprise liability may also induce headquarters to delegate more decision‐making authority to their subsidiaries, invest more, and expand faster, although failure rates could rise. Using data from 16 countries across the Americas, Asia, and Europe, we provide evidence supporting these predictions. This paper highlights two channels—risk compartmentalization and subsidiary autonomy—through which limited liability laws affect organizational outcomes.Managerial SummaryLimited liability is a key attribute of the corporate form. However, when the owner of a corporation is another corporation (as in corporate groups), a key justification for limited liability—to protect small, passive investors from unlimited losses—is severely weakened. We examine how variation in parent limited liability protections for subsidiaries across countries affect firm boundaries, internal organization, and performance. In countries with strong limited liability protections, groups partition their assets more finely into legally independent subsidiaries and grant their subsidiaries more autonomy. They also invest more and grow faster, although they experience higher rates of significant revenue declines. Our findings suggest that limited liability laws play a central role in shaping organizational structure and performance.

The Liability of Corporate Groups for Violation of EU Competition Law

The Liability of Corporate Groups for Violation of EU Competition Law

Understanding drivers of intrafirm coopetition: perspective of corporate groups

PurposeCoopetition is ubiquitous in the economy, but managing effectively this type of relationship between firms remains a challenge for many organizations. This paper investigates the coopetition within corporate groups and focus on factors that determine the simultaneous competition and cooperation between subsidiaries therein.Design/methodology/approachDrawing on a dataset of 121 corporate groups listed on the Warsaw Stock Exchange (WSE), this paper theoretically advances and empirically validates the impact of 18 factors which determine the coopetition relationship.FindingsThis study's findings confirm the importance of an organizational design among external and internal drivers of intrafirm coopetition. However, the role of an environmental uncertainty as a driver of intrafirm coopetition is not proven. Furthermore, the paper finds that internal determinants explain the phenomenon of coopetition between subsidiaries within a corporate group more than determinants related to the environment.Originality/valueThe paper contributes to the coopetition theory by empirical identification of drivers of intrafirm coopetition and advances the corporate groups studies by exploring internal relationships (cooperation and competition) and the determinants therein.

Harmonising Shareholder Protection Laws for Related Party Transactions

Abstract 701 Related party transactions have gained significant importance in Europe as a result of the reformed Shareholders’ Rights Directive (SRD). Previously, only a few Member States had created regulatory regimes governing such transactions, yet as of the reform of 2019, detailed procedural and disclosure requirements are compulsory in the European Union today. The Directive’s specifications in Article 9 c grant national legislators substantial discretion to implement new safeguards into national law. This article compares the implementations chosen by Member States and assesses the degree of harmonisation that countries have achieved. It advocates for a more balanced approach and increased coordination with accounting laws. Furthermore, it argues that the new legal regime should be regarded as a significant part of European Corporate Group Law. 702

The “industrial halo” and its impact on the assessment of corporate reputation

PurposeThe gap that this research attempts to fill is to analyse the explanatory factor “industry” when assessing the reputation of a corporate group. In other words, this research attempts to demonstrate the impact of the “industrial halo” on the assessment of corporate reputation, given that, to date, the academic literature has not considered industry as an explanatory variable in the assessment of the reputation of private companies.Design/methodology/approachA sample of 43 Spanish companies was used to analyse the relationship between the reputation of firms as measured by the Merco Empresas index, and the industries to which they belong, after controlling for company performance, size, turnover, public recognition of their leadership, and corporate responsibility. This involved conducting a cross-sectional analysis of the relationship between the variables for each year in the time period from 2005 to 2016. The available data were taken from the firms' annual financial reports and websites, as well as from the Merco.FindingsThe paper shows the existence of industrial halos that account for the corporate reputation of businesses in Spain. It is also shown that industrial halos are not permanent over time, and that they tend to occur in years of crisis.Research limitations/implicationsIt would have been desirable for this study to have had sufficient data to include other industries, but this was not possible. As for possible extensions, in addition to expanding the period considered, other analytical techniques, such as panel data models, could be applied to allow comparison with the results obtained here.Practical and social implicationsThe results of this study have some practical implications. Firstly, firms that publish corporate reputation rankings should be aware of the distortion that the industrial halo can produce, especially in times of uncertainty, and seek to correct for it in their measurements. And secondly, corporate groups themselves should assume that the reputation of the industry affects their individual reputation, and consequently, they should see the other companies in the industry not only as competitors but also as “reputational allies”. They should therefore make collective efforts to improve in this respect, especially in the face of reputational crises.Originality/valueThis paper provides a better understanding of the relationship between the reputation of a company and the industry to which it belongs, and of its permanence over time. This relationship has been little studied in the Spanish market to date.

The Old Believers of Burytia in the 1920s and 1950s: Transformations of the Way of Life

The subject of the research in the article is the problem of transformational modification of various aspects of the life of the Old Believers of Buryatia in the 1920s and 1950s. The object of the study is the Old Believer population of the Buryat-Mongolian ASSR (since 1958 – the Buryat ASSR). Based on the purpose of a comparative analysis of the transformations of the Old Believers' lifestyle in the 1920s and 1950s, this article examines such aspects of the topic as: characterization of examples of both negative and positive processes for preserving identity (atheistic campaign, introduction of communist ideology, cultural modernization) in designated time periods, as well as the attitude of generations of the 1920s and 1950s to these processes, which allows us to show the evolution of various social practices. The historical-genetic method used to consider a social group at different time intervals is necessary to demonstrate changes in the lifestyle of Old Believers in the 1920s and 1950s. The comparative historical method was needed when comparing the contribution of the Soviet government and internal movements among the Old Believers in the process of the decline of religious identity. Atheistic propaganda, as well as the communist ideology introduced among the Old Believers, were the main channels for the group's incorporation into the unified Soviet society that had been under construction since the 1920s. By the 1950s, based on the stable potential of the cultural identity of the Old Believers (even with the decline of the religious one), these tools gradually adapted in the form of a set of formal instructions and recommendations, which in turn led to the transformation of the way of life of the Old Believers in the context of mutual adaptation to reality (socially approved behavior). The novelty of the study lies in the fact that personal memories of Old Believers of the 1920s and 1950s (from the village of Nadezhino, Tarbagatai district of Buryatia) are introduced into scientific circulation, allowing to compare the real attitude of people to the processes taking place with the official market position of the designated period.

Organizational life cycle assessment of a corporate group

Organizational life cycle assessment of a corporate group

Teamwork through time: collective intentions in the voting process

ABSTRACT Voting is a collective activity: it requires more than one person to win a vote. In a corporation, voting allows the winning idea to become an intention of the corporate group once the vote is concluded. In this paper, argue that unlike in corporate boards, in a democratic election, the voting process does not create a group intention. The difference between the two processes is an oft-overlooked moment directly after the corporate vote in which members on the losing side ratify the decision of the group and move on with the group into the future. In state elections, because of the high cost of renouncing membership, there is typically no ratification moment. While different groups do have collective intentions prior to an electoral vote, the vote itself does not manifest the intention of a group agent such as ‘the People.’ This conclusion has implications for minority rights.

(218) Emerging Data Regarding Disparities in Insurance Coverage of Male Sexual Health Conditions

Abstract Introduction Medical policy bulletins (also known as clinical policy bulletins) are insurance company guidelines for administering plan benefits. These documents purport to summarize current research, evidence-based guidelines, regulatory status, and physician opinion to determine whether insurers consider procedures and services to be medically necessary. These bulletins, along with member benefit plans, determine which services are covered. We have previously explored the lack of uniformity that exists for insurance payer coverage for penile prostheses. Here, we sought to expand this investigation to determine insurance coverage criteria for medical and surgical management of common men’s health conditions. Objective To determine covered benefits for sexual medicine conditions among the top United States healthcare insurers. Methods A list of common sexual medicine conditions was generated, including Peyronie’s disease, hypogonadism, erectile dysfunction, premature ejaculation, incontinence, and buried penis. The most common treatment modalities for each condition were identified (see Table I). Securities and Exchange Commission (SEC) filings were used to identify the top ten largest private insurers in the United States by member enrollment. This list was cross-referenced with the National Association of Insurance Commissioners (NAIC) 2020 Market Share Report (ref 1). The following list of the largest private US health insurers was thus developed: United, Anthem, Centene, Kaiser, Humana, CVS, Healthcare Service Corporation (HCSC), Cigna, Molina, and Independence Health Group (IBX). Kaiser and Centene were excluded due to lack of nationwide medical policy bulletins. We reviewed medical policy bulletins from the remaining 8 insurers to determine whether the specific treatments were identified as medically necessary, experimental/investigational, or cosmetic. Services and procedures deemed medically necessary were coded as “covered,” and those listed as investigational, or cosmetic were coded as “not covered.” If information about a specific condition or treatment modality was not found in a company’s policy bulletin, it was coded as “unknown.” Results In total, we recorded 143 data points, across the 8 insurance providers. Our review of medical policy bulletins yielded 60 (41.9%) instances where services were considered medically necessary and/or “covered”, 18 (12.6%) non-covered or investigational/cosmetic services, and 65 (45.5%) services with unknown coverage (Table I; covered=1, non-covered=0, unknown=2). Conclusions We encountered substantial difficulty in navigating and interpreting insurance coverage for various sexual medicine treatments and conditions based on review of policy bulletins from the topic insurance providers in the US. There was no readily identifiable coverage information for >45% of the data points that we collected, and instances of “unknown” coverage exceeded covered services across the collective of the largest private insurers. While 76.9% of conditions for which there was available data were covered, we are unable to draw generalizable conclusions for most conditions as there are significant deficits in the availability of policy information from online insurance sources. Further challenges in determining coverage include the additional layers of limitations in member plan benefits (i.e. plan exclusions), which could compound confusion for both physicians and patients. Disclosure Any of the authors act as a consultant, employee or shareholder of an industry for: Coloplast.

Influence of Work Culture on Organizational Performance in Rwanda: A Case of Economic Policy Research Network

Work culture has long been regarded as a significant component of a wide range of organizational processes, personnel, and performance. It has also served as a vital connection to bind diverse corporate cultures in the corporate group structure. This descriptive assessed the influence of work culture on organizational performance, data collected were cross-sectional. The total population was 302 and the sample size was 177 calculated using Yamane formula. Both stratified and purposive sampling techniques were employed. Statistical Package for Social Science (SPSS) was used to analyze quantitative data while qualitative data were analyzed using content analysis. With respect to the specific objective of the study, after collecting data, cleaning, and interpreting, the findings indicated that regarding to the influence of ethics-driven work culture on organizational performance. The majority 115 out of 177 or 65% concurred that having certain values as a work-driven culture in an organization influences organizational performance. Respondents supported the findings by saying organizations with values that become a work-driven culture motivate their employees to always take the right decisions. Likewise, 77 out of 177 and represented by 43.5% asserted that setting norms in an organization influences organizational performance. Regarding to the influence of technology-driven work culture on organizational performance. The findings showed about 117 (66.1%), and 113 (63.8%) respectively strongly agreed that automating organizational services and fostering organizational services online significantly contribute to organizational performance. Concerning to the influence of M&E on organizational performance, 53.7% strongly agree that acknowledging the feedback of organization stakeholders influences organizational performance. Above all, the findings demonstrated that a combination of ethics-driven work culture, technology-driven work culture, and M&E-driven work culture contributes up to 72% to organizational performance. Moreover, correlation analysis showed that there is positive relationship between ethics, technology, and M&E-driven work culture with organizational performance. However, technology-driven work culture and M&E-driven work culture are more highly correlated with organizational performance than ethics-driven work culture. The study recommended that ethics-driven work culture, technology-driven work culture, and M&E-driven work culture should be enhanced in organizations since it’s a key factors with regard to performance.   Keywords: Work Culture, Organizational Performance, Economic Policy Research Network Rwanda. &nbsp

The Case Against a Special Regime for Intragroup Transactions

Corporate groups with minority shareholders in one or more subsidiaries are common around the world, despite the risks such arrangements pose to those shareholders. Shaping a firm as a web of formally independent, minority-co-owned legal entities facilitates controllers’ diversion of corporate wealth (tunnelling) via intragroup transactions and other non-transactional techniques. While many jurisdictions leave the regulation of intragroup transactions to ordinary remedies against self-dealing, others (mostly in Europe) establish a special regime centred on a relaxation of directors’ fiduciary duties. Under this special regime, subsidiary directors are not liable if they make disadvantageous decisions that are beneficial to other entities within their group, provided that proper compensation is granted (or, according to some proposals, may reasonably be expected to be granted) to the subsidiary. This article conducts a qualitative cost-benefit analysis of the special regime, focusing on the European Model Companies Act’s rules on intragroup transactions. We concede that such rules have the advantage of reducing contracting costs and enhancing managerial flexibility within the corporate group, relative to systems governed by ordinary corporate law rules against unfair self-dealing. However, we also show that those benefits can be expected to be very limited. Furthermore, we show that this special regime substantially reduces minority shareholder protection against tunnelling, by making it much harder for minority shareholders to recover damages from controllers’ unfair self-dealing. Overall, our analysis suggests that, for corporate groups with minority shareholders at the subsidiary level, this regime should be implemented as an opt-in arrangement, if at all. Even in that form, it should be adopted together with adequate protections for shareholders dissenting from the midstream resolution to opt into the regime.

부당한 이익 제공 금지와 비대칭적 원가형태

Affiliates of large corporate groups could be penalized for breaking the regulation against of favoring internal transaction. This study examines the effects on prohibition of unfair profit offering on Monoploy Regulation and Fair Trade Act(MRFTA) on the asymmetric cost behavior. Samples are selected among listed companies in Korea from 2013 to 2021 and number of samples is 2,180 firms per year which consist and 19,620 observations for 9 years. The results are as follows. First, listed companies in Korea show downward stickiness of costs for the purpose of adjustment costs when sales are decreased. Second, affiliates of conglomerates show downward elasticity through earnings management to conform to the regulation. Third, higher of asset intensity and employ intensity show stronger downward stickiness for the purpose of adjustment costs. This study will be practically meaningful because it analyses the influences of prohibition against unfair profit offering within the affiliates n Korea for the first time. In addition, it provides empirical evidence the relation between the regulation and asymmetric cost behavior and emphasis the necessity on the surveillance of authority.

Yolkala Gumurrlili? with Whom Towards the Chest? A Relational Portrait of Yolŋu Social Organisation

ABSTRACT Much has been written about Yolŋu social organisation since Lloyd Warner’s early ethnography (1937). Debates within this literature have predominantly focused on the relative independence of bäpurru groups, a significant social unit within Yolŋu society, and whether these can accurately be described as ‘corporate descent groups’. To develop a fresh perspective on Yolŋu social organisation, this paper presents an exploration of five drawings by Dhambiŋ Burarrwaŋa and her waku (daughters, sister’s daughters), a novel methodology which has allowed us to recast well-known anthropological tropes within a setting of relational growth and cross-cultural communication. Rather than outlining a structural model, themes of raki’ (strings), luku (foot, footprint, anchor, root of a tree), gamunuŋgu (white clay), and lirrwi (ashes, shade) are explored in detail, as they reveal multiple layers of complexity and connection within otherwise abstract notions like ‘clan’. The drawings and accompanying exegesis situate Yolngu identity within living social connections. What emerges is a relational portrait that embeds the ‘clan debate’ within those relationships that make understanding possible in the first place.

Antimicrobial usage in farm animal practices in the UK: A mixed-methods approach.

Antimicrobial resistance (AMR) is a growing One Health problem. Monitoring antimicrobial usage in farm animals is crucial for tackling AMR. A cohort study using the electronic clinical records during 2019 from 23 farm animal veterinary practices across the UK belonging to two corporate groups, with a range of 2-14 veterinarians per practice, estimated the usage of antimicrobials and highest priority critically important antimicrobials (HP-CIAs). Risk factors for using HP-CIAs were evaluated using hierarchical mixed-effects logistic regression modelling with practice ID and farm ID added as random effects. Using a qualitative approach, veterinarians from one of the participating practice groups were recruited for a qualitative study to explore the barriers and facilitators in relation to antimicrobial use. Semi-structured interviews were conducted with participants and analysed thematically. During the year 2019, 98,824 antimicrobial prescribing events overall were recorded from the treatment records of the 23 participating practices. The median count of antimicrobial events per practice was 3226 (range 263-22,159). There were 17,111/98,824 (17.3%) HP-CIAs events overall, with a median of 15.4% at practice level (range 4.8-22.1%). Penicillins were the most frequently used antimicrobials 29,539/98,824 (29.9%) followed by tetracyclines 19,015/98,824 (19.2%). HP-CIA use was strongly clustered, with more clustering seen at the farm level (intraclass correlation coefficient (ICC)=0.56) than at the practice level (ICC= 0.32). Country, route of administration, season and practice type were significantly associated with the usage of HP-CIAs. Four main themes were identified from the analysis of the veterinarians' interviews: pressure from the industry, drug-related factors, knowledge level of veterinarians and clinical factors. Supermarket contracts and farm assurance schemes were facilitators for reducing antimicrobial use and the use of HP-CIAs. Ease of administration and the withdrawal period of the antimicrobials influenced veterinarians' choice of antimicrobials. The clinical condition and clinical signs presented on farm were reported to influence participating veterinarians' prescribing decision. Participants showed a good understanding of AMR, responsible use of antimicrobials and the term 'critically important antimicrobials'.In conclusion, integrating the quantitative and qualitative findings can inform policymaking on antimicrobials stewardship in farm practice. By estimating the relative levels of clustering of antimicrobial use at the practice and farm level, as well as identifying major risk factors for using HP-CIAs, more targeted interventions can be designed to promote responsible antimicrobial use in farm practice. Furthermore, better understanding the industry pressures on farms to reduce antimicrobials usage could reduce the barriers for responsible antimicrobial use by veterinarians.