Shareholders Research Articles

The HRM organic intellectual: legitimating shareholder's values through business game

No presente trabalho apresentaremos ideias do teorico italiano Antonio Gramsci, visando contribuir para o desenvolvimento dos Estudos Criticos em Administracao. Sao discutidos alguns dos principais conceitos desse autor, destacando os que seguem: hegemonia, consenso e intelectuais. Duas hipoteses inter-relacionadas acerca de qual seja o papel dos intelectuais nas organizacoes sao apresentadas, a saber: 1) legitimar a “logica do mercado” em todos os niveis organizacionais; 2) ocultar e assegurar o processo de expropriacao da mais-valia. Tais hipoteses sao discutidas a partir da analise de um treinamento organizacional denominado simulador, por meio do qual os trabalhadores do chao-de-fabrica de uma empresa do setor automotivo desempenham o papel de administradores em um sugestivo jogo empresarial. A existencia dessa tecnica foi constatada a partir de uma entrevista realizada com um executivo da area de RH dessa empresa e de um prospecto organizacional, por meio do qual se apresentavam os objetivos e as principais caracteristicas desse treinamento. Conclui-se que tal pratica constitui uma tecnica exemplar que visa criar o consenso nas relacoes de producao e, consequentemente, assegurar o poder hegemonico nas relacoes de trabalho.

926P - Erdafitinib (erda) versus available therapies in advanced urothelial cancer: A matching adjusted indirect comparison

BackgroundErda, a pan-fibroblast growth factor receptor (FGFR) inhibitor recently received accelerated US FDA approval for locally advanced or metastatic urothelial cancer (mUC) in adult patients (pts) with FGFR2/3 alterations who progressed on≥1 prior platinum-containing chemotherapy, based on a single-arm phase 2 study. In the absence of head-to-head studies, a matching-adjusted indirect comparison (MAIC) was used to compare the efficacy of erda relative to available therapies in mUC pts. MethodsSystematic literature review was performed to identify published randomized controlled trials (RCTs) of 2nd-line treatments (from 1990-on) in mUC pts with unknown FGFR status. Individual patient-level data (IPD) were used from the phase 2 study (NCT02365597) in mUC pts treated with erda (8mg/day). ORR (primary endpoint), overall survival (OS) and progression-free survival (PFS) were compared using an unanchored MAIC. The IPD were weighted to match the aggregated data from comparator studies. ResultsNine relevant RCTs of 6 comparators (docetaxel [D], vinflunine [V], pembrolizumab [Pb], atezolizumab [A], paclitaxel [P], and mixed-chemotherapy [D, V or P]) that were identified could be matched with. The matching-adjusted odds ratios (OR) for ORR were consistently >1 vs all comparators, suggesting higher ORR with erda treatment over all comparator 2nd-line therapies. The matching-adjusted hazard ratios (HRs) for OS and PFS vs all comparators were <1, suggesting better outcomes (PFS/OS) with erda. Results from the sensitivity analyses showed varied statistical significance, however, the overall trends were relatively similar. Study limitations: availability of comparable endpoints and baseline characteristics; small sample size of the erda study.Table926P MAIC results for base case scenario: Erda (in FGFR+ pts) vs available 2nd-line therapies in pts with unknown FGFR statusTableComparatorStudyN (Neff)ORR (OR [95% CI])OS (HR [95% CI])PFS (HR [95% CI])PembrolizumabNCT0225643679 (40)2.26 [1.11; 4.59]*0.61 [0.37; 0.99]*0.77 [0.58; 1.03]AtezolizumabNCT0230280774 (45)6.80 [3.55; 13.02]***0.58 [0.37; 0.92]*Mixed-chemotherapyNCT0225643679 (45)4.15 [2.04; 8.46]***0.54 [0.35; 0.85]**0.77 [0.56; 1.07]Mixed-chemotherapyNCT0230280774 (51)6.26 [3.37; 11.63]***0.54 [0.34; 0.84]**DocetaxelaNCT0128246368 (45)3.71 [1.11; 12.35]*0.72 [0.41; 1.25]0.51 [0.32; 0.80]*DocetaxelNCT0088033478 (42)3.98 [1.48; 10.74]**0.52 [0.31; 0.87]*0.84 [0.56; 1.26]DocetaxelNCT0178054584 (47)6.02 [2.48; 14.63]***0.37 [0.23; 0.61]***DocetaxelNCT0242612578 (63)3.46 [1.80; 6.66]**0.63 [0.47; 0.84]*VinflunineaNCT0031523778 (53)4.74 [2.21; 10.18]***0.57 [0.39; 0.84]**VinflunineNCT0183023161 (32)1.51 [0.45; 5.10]0.49 [0.24; 0.99]*0.96 [0.51; 1.81]PaclitaxelaNCT0094945568 (44)2.63 [1.03; 6.73]*0.59 [0.37; 0.95]*0.95 [0.64; 1.41]For most comparators, only the main characteristics (according to clinical experts; number of risk factors, ECOG, liver metastases, hemoglobin<10g/dl, visceral disease, liver/bone metastasis, metastatic disease, primary tumor site, smoking status, and time since prior therapy) were included in the base case matching process to maintain a reasonable effective sample size (Neff). aAll available characteristics were included. When type of ORR (assessment by independent review committees [IRR] or assessment by investigators) is not specified for the comparator study, IRR was used for erda as this leads to conservative results.*p≤0.05;**p≤0.01;***p≤0.0001 ConclusionsTreatment of FGFR+ mUC pts with erda may be associated with improved overall response, PFS and OS as compared to available therapies in pts with unknown FGFR status. Clinical trial identificationNCT02365597. Editorial acknowledgementPriya Ganpathy, MPharm, ISMPP CMPP™ (SIRO Clinpharm Pvt. Ltd, India) provided writing assistance and Harry Ma, PhD (Janssen Global Services) provided additional editorial support. Legal entity responsible for the studyJanssen Research & Development, LLC. FundingJanssen Research & Development, LLC. DisclosureY. Loriot: Honoraria (self), Consultancy / Advisory Role- Astellas Pharma, AstraZeneca, Janssen, Merck Sharp & Dohme, Pfizer, Roche, Ipsen, Seattle Genetics, Sanofi; Research Funding- Sanofi (Inst) S. Van Sanden: Shareholder / Stockholder / Stock options, Employee and stockholder: Janssen Research & Development. J. Diels: Shareholder / Stockholder / Stock options, Employee and Share holder: Janssen Reserach & Development. N. Rahhali: Shareholder / Stockholder / Stock options, Employee and stockholder: Janssen Research & Development. D. Seshagiri: Shareholder / Stockholder / Stock options, Employee & stockholder: Janssen Reserach & Development. B. Kowalski: Shareholder / Stockholder / Stock options, Employee & stockholder: Janssen Research & Development. S. Fleming: Shareholder / Stockholder / Stock options, Employee & stockholder: Janssen Research & Development. P. De Porre: Shareholder / Stockholder / Stock options, Employee & stockholder: Janssen Research & Development. A.O. Siefker-Radtke: Consulting / Advisory Role: AstraZeneca, Bristol-Myers Squibb, Eisai, EMD Serono, Genentech, Inovio Pharmaceuticals, Janssen, Lilly, Merck, NCCN; Speakers’ Bureau: Genentech; Research funding: Bristol-Myers Squibb, Janssen, Michael, Sherry Sutton; Fund for Urothelial Cancer: NIH, Takeda; Patents / Royalties / Other Intellectual Property: Methods of characterizing and treating molecular subsets of muscle-invasive bladder cancer.

Gobierno corporativo en PYMES del mercado de capitales argentino: análisis de los paneles de cotización

&lt;p class="Pa2"&gt;El objetivo de este trabajo es estudiar las características de gobier­no corporativo en las pymes emisoras de títulos en el mercado de capitales de la Argentina, en dos sectores de negociación: régi­men general y régimen pyme. La existencia de diferencias signifi­cativas entre ambos grupos de interés se estudia en forma bivariada mediante el test de Pearson Exact para variables binarias y test de Kruskal Wallis para las variables continuas. Posteriormente se analiza la robustez de las variables sig­nificativas empleando una regresión de mínimos cuadrados ordinarios con va­riables control. Las empresas bajo ambos regímenes no presentan diferencias en cuando a la conformación accionaria, dualidad del CEO, características del auditor externo, y participación de mujeres en la propiedad, directorio y alta gerencia. La dispersión accionaria es baja y existe una elevada concentración de la propiedad en el principal accionista directo. La participación de mujeres es baja en la propiedad, el directorio y la alta gerencia. Como diferencia signifi­cativa se observa que en el régimen general las empresas presentan directorios y cuadros gerenciales con un promedio de un integrante más.&lt;/p&gt;

Influence of Career Management on Performance of Firms Listed in the Nairobi Securities Exchange in Kenya

The study sought to determine the influence of career management on firm performance at the firms which are listed in the Nairobi Securities Exchange. The study was anchored on resource based view theory and shareholder value maximization theory. The research design used was a cross-sectional survey, target population included the head of human resources and finance directors in all the listed firms since they were better placed and conversant with the subject of this study and were involved in the development of the policies and review of performance. Sample size comprised of 136 respondents and data was collected through structured questionnaires to meet the objectives of the study. Responses were tabulated, coded and processed by use of a computer Statistical Package for Social Science (SPSS) to analyze the data. Both descriptive and inferential statistics techniques were used to analyze the data. Findings revealed that the relationship between career management and firm performance was positive and statistically significant. The study concluded that career development and planning, career mentors/ counseling, career centres and firms planning for employee growth and progression are key career management determinants for the performance of firms listed in the Nairobi Stock Exchange (NSE) and recommended that career management practices should be widely adopted by NSE listed firms as doing so would lead to improved performance.

Accumulating automata and cascaded equations automata for communicationless information theoretically secure multi-party computation

Information theoretically secure multi-party computation implies severe communication overhead among the computing participants, as there is a need to reduce the polynomial degree after each multiplication. In particular, when the input is (practically) unbounded, the number of multiplications and therefore the communication bandwidth among the participants may be practically unbounded. In some scenarios the communication among the participants should better be avoided altogether, avoiding linkage among the secret share holders. For example, when processes in clouds operate over streaming secret shares without communicating with each other, they can actually hide their linkage and activity in the crowd. An adversary that is able to compromise processes in the cloud may need to capture and analyze a very large number of possible shares.Consider a dealer that wants to repeatedly compute functions on a long file with the assistance of m servers. The dealer does not wish to leak either the input file or the result of the computation to any of the servers. We investigate this setting given two constraints. The dealer is allowed to share each symbol of the input file among the servers and is allowed to halt the computation at any point. However, the dealer is otherwise stateless. Furthermore, each server is not allowed any communication beyond the shares of the inputs that it receives and the information it provides to the dealer during reconstruction.We present a protocol in this setting for generalized string matching, including wildcards. We also present solutions for identifying other regular languages, as well as particular context free and context sensitive languages. The results can be described by a newly defined accumulating automata (AA) and cascaded equations automata (CEA) which may be of an independent interest. As an application of accumulating automata and cascaded equations automata, secure and private repeated computations on a secret shared file among communicationless clouds are presented.

공정거래법에 의한 지배주주 사익편취규제제도가 기업가치에 미치는 영향

공정거래법에 의한 지배주주 사익편취규제제도가 기업가치에 미치는 영향

HRM-Performance Perspectives: An overview of Theoratical Challenges and Prospects

The research on human resource management (HRM) and performance claims a significant positive relationship;However, some researchers doubt this relationship. This paper evaluates the literature on HRM-performance relationship and concludes that there exists significant theoratical challenges. The review of available literature pertaining to HRM practices reflects that there is a long list of HRM practices but researchers have no consensus on common practices. The review of high performance work system (HPWS) help us to conclude that inspite of heavy research work on bundling of HPWS; consensus could not be arrived at some common structure. similarly, we provide an overview of existing HRM-performance perspectives and concludes that some perspective provide good theoratical and practical base for HRM-performance linkages. However, there exist deficiency in literature concerning the alternative perspective (Boselie et al.,2005). This paper further reviews the concept of black box and concludes that there exist theoratical gaps and misconceptions in HRM-performance relationship. We also provide an insight of performance and conclude that majority of researchers have focused on share holder appraoch, while stake holder appraoch is largely disregarded. Finally, this paper reviews organization justice( OJ ) as an alternative option and concludes that majority of HRM practices are covered in OJ, and its four existing dimensions. OJ has a great scope to provide vast space to cover HRM practices not only in a greater number but it also gives a sense of ' fairness/ justice' and substantiates the value and importance of HRM practices.

The Legal Protection of Minority Shareholders Under Ethiopian Law: Comparative Analysis

Business organizations are important to operate business activities that demand the involvement of many persons. In these days, therefore, business organizations are getting momentum in every sector of the economy. Business can be run in different forms of business organizations, one of which is a company. This article is to show the deficiencies of legal protection of minority shareholders under Ethiopian company law compared with the England and German company laws. Since Ethiopia commercial law is under the process of revision, this article will have a paramount importance and can be used as input for amendment of commercial code of Ethiopia. Thus, we tried to analyze specifically, the legal protection of Ethiopian law offers for minority shareholders by comparative perspective. It includes the rights of minority shareholders; the substantive protection of minority shareholders such as the right to call general shareholders meeting, right to propose resolution, right to challenge decision of the company, right to appointment of independent audit, right to access information and voting rights. The article finally ends up with some concluding remarks and the deficiencies of Ethiopian minority shareholders protection, if any, and lessons to be learned from UK and Germany laws would be reflected as recommendation to the Ethiopian commercial code. Keywords : Minority share holders, Protection of Minority share holders, Company law. DOI : 10.7176/JLPG/86-03 Publication date :June 30 th 2019

Analisis Implikasi Kebijakan Dividen Terhadap Pertumbuhan Perusahaan Dan Kinerja Saham Studi Kasus Pada Pt Mitra Pinasthika Mustika Tbk Yang Terdaftar Di Bursa Efek Indonesia

This research was conducted using financial reports from companies engaged in retail distribution sector during the periods of 2013-2016 using financial ratios analysis. These ratios described how profitability, assets management and company’s equity are affecting the dividend policy. We can conclude that dividend policy has major impact on the company’s growth and stock performance. &#x0D; The results show that a slight decrease in the stock price will also cause a decrease in the profit and eventually causing decrease to the earning per share. The dividend per share experiences an increase because these companies still intent to pay the dividend among their share holders to maintain share price. Share price declines due to the interest rate policies of Bank Indonesia and the value of export import. These companies have run proper dividend policies by maintaining the growth and company value, seen from the increasing portion of retained earnings and the portion of dividend payment. Thus the decreasing price of share is mostly caused by external factors.

Bayer shareholders reproach management

Bayer shareholders reproach management

State-Owned Enterprises in Singapore: Historical Insights Into a Potential Model for Reform

This article argues that the Singapore GLC Model is so closely intertwined with Singapore’s idiosyncratic history and unique regulatory culture that, although the model has been extremely successful within Singapore, transplanting it to China could be difficult. The article also explores the extent to which the success of the Singapore GLC Model and China’s ambition to emulate it challenge notions that corporate governance systems are converging towards a market-oriented (American) model of the shareholder centric corporation and the extent to which the success of the Singapore GLC Model challenges the basic conception that private enterprise rather than the state is necessarily more efficient at allocating capital to its most productive use.

Dividend Analysis At Kesoram Industries Ltd

The term dividend refers to that part of the profits of a company which is distributed amongst its shareholders. It may therefore be defined as the return that a shareholder gets from the company, out of its profits, on his share holdings. "According to the Institute of Charted Accounts of India" dividend is a "Distribution to shareholder out of profits or reserves available for this purpose"

A Comparative Study of New Developments of the Industrial System Based on Industry–Bank Relationships in Japan and Germany after World War II

This paper discusses the development of a new system of oligopolistic industrial concentration based on industry–bank relationships after World War II. Industry–bank relationships are important issues related to cooperative inter-firm relationships, the system of corporate governance, corporate development, and Japanese and German capitalism’s accumulation structures. In Japan, industry–bank relationships were restructured through the dissolution of the zaibatsu and the formation of large corporate groups that included a wide array of industries. In Germany, industry–bank relationships developed through various mechanisms such as banks’ credit and securities businesses, the shareholdings and deposited stock system, the assignment of directors from banks to corporations, and the advisory board system. First, this paper examines the postwar industrial system based on industry–bank relationships in Japan. Second, it analyzes new developments in Germany’s industrial systems based on industry–bank relationships. Drawing on these discussions, this chapter discusses the Japanese and German characteristics and the significances of their industrial systems based on industry–bank relationships.

Emulating a Shared Register in a System That Never Stops Changing

Emulating a shared register can mask the intricacies of designing algorithms for asynchronous message-passing systems subject to crash failures, since it allows them to run algorithms designed for the simpler shared-memory model. Typically such emulations replicate the value of the register in multiple servers and require readers and writers to communicate with a majority of servers. The success of this approach for static systems, where the set of nodes (readers, writers, and servers) is fixed, has motivated several similar emulations for dynamic systems, where nodes may enter and leave. However, existing emulations need to assume that the system eventually stops changing for a long enough period or that the system size is bounded. This paper presents the first emulation of a register supporting any number of readers and writers in a crash-prone system that can withstand nodes continually entering and leaving and imposes no upper bound on the system size. The algorithm works as long as the number of nodes entering and leaving during a fixed time interval is at most a constant fraction of the system size at the beginning of the interval, and as long as the number of crashed nodes in the system is at most a constant fraction of the current system size. The paper includes a lower bound on the fraction of correct nodes that is strictly larger than the fraction sufficient to solve the problem in the static case.

Typology of Grain Storage Structures in Rural Communities in Kogi State – Nigeria: Economic Implications on the Rural Farmers

This study examined the economic impact of grain storage structures and storage duration on the income of rural farmers in Kogi State, north-central, Nigeria. The study utilised the questionnaire method, supported by on-site observation and interactions with key players along the grain supply chain. Multistage sampling was used to select three hundred (300) rice and maize farmers spread across fifty (50) communities in the State that participated in the research. The results show that the storage systems and length of storage of the farm produce (maize and rice) has a significant impact on the annual income of the farmers, and only 1 per cent of the grain farmers’ population earned above the 2017 world’s poverty benchmark. We found out that access to technology for agricultural purposes was zero. The major challenges reported by the farmers are; poor processing/storage facilities (43.4 %), poor sales after harvest (30.3 %) and lack of agricultural credits (23.3 %). The existing storage structures encourages post-harvest waste and losses, affecting the quality of stored grains and invariably its market value and farmers’ income; the grain market is erratic with middlemen dictating the price of grains. None of the farmers surveyed had accessed agricultural credit at any time. The study recommends shared or communal storage centres for each of the communities, where farmers can either have their grains sold at Guaranteed Minimum Price or with an option to store the grains in anticipation of better prices in the future. Bank Accounts would be opened for the farmers, and a Grain Card would be issued to help keep and build the farmers’ “Activity Ratings” for economic purpose like credit assessment to determine eligibility for agricultural credit. Private firms should manage the shared or communal centre in each community in a public-private partnership with the government, but the farmers should be shareholders by default. The shared or communal centres should also be a reliable intermediary between the farmers and other key stakeholders, strengthening the rural economic institution, and serving as a training centre for the rural farmers. A theoretical shared or communal storage model was designed.

Fair Stock Price Test in the Freeze-Out of Minority Shareholders by Controling Shareholder - Supreme Court 2016.12.23., 2016Ma1283 -

Fair Stock Price Test in the Freeze-Out of Minority Shareholders by Controling Shareholder - Supreme Court 2016.12.23., 2016Ma1283 -

Podział majątku wspólnego małżonków-wspólników spółki jawnej i z ograniczoną odpowiedzialnością

Celem pracy jest dokonanie analizy zagadnienia podziału majątku wspólnego małżonków w zakresie szczególnych składników majątku wspólnego – praw spółkowych przysługujących z tytułu uczestnictwa w spółce jawnej oraz udziałów w spółce z ograniczoną odpowiedzialnością. O ile bowiem powstało wiele prac na temat przynależności praw spółkowych do majątków małżonków, to kwestia podziału majątku małżonków obejmującego te prawa dopiero zaczyna pojawiać się w rozważaniach nielicznych autorów. Jako podstawową metodę badań przyjąłem samodzielną wykładnię prawa oraz analizę i krytykę piśmiennictwa. Przedmiotem badań uczyniłem zaś spółkę jawną (jako modelową spółkę osobową) i spółkę z ograniczoną odpowiedzialnością (gdyż w wielu miejscach regulacje dotyczące spółki z ograniczoną odpowiedzialnością i spółki akcyjnej są podobne). Chociaż kwestie podziału majątku wspólnego małżonków regulowane są przez przepisy k.r.o. (art. 45 i 46 k.r.o.) i k.c., to jednak można znaleźć normy dotyczące funkcjonowania spółek (art. 1 § 1 k.s.h.), modyfikujące ogólne zasady dotyczące sposobu podziału majątku wspólnego i stosowane na zasadzie przepisu szczególnego. Wykluczony jest podział cywilny udziału spółkowego w spółce jawnej (art. 62 k.s.h.) oraz podział w naturze pojedynczej akcji (art. 333 § 1 k.s.h.). Uważam – choć mam świadomość, że jest to teza kontrowersyjna – że można dokonać podziału udziału spółkowego w spółce jawnej. Ograniczenia co do sposobu podziału przewidują artykuły 10, 1831, 3321 k.s.h., które, moim zdaniem, mają zastosowanie przy podziale majątku wspólnego małżonków.

A Comparative Study on the Market for Corporate Control and the Rise of Shareholder Activism in Corporate Governance

A Comparative Study on the Market for Corporate Control and the Rise of Shareholder Activism in Corporate Governance

Revisiting Voting Right of a Shareholder with Special Interests ―A Comparative Law Study―

Revisiting Voting Right of a Shareholder with Special Interests ―A Comparative Law Study―

Patients' involvement and the improvement of patient blood management

Introduction: Patient blood management (PBM) is of prime importance today for the preservation and conservation of health resources and for patient safety. To fulfill the goal of appropriate use of blood and blood components, all the shareholders involved in patient treatment, particularly patients themselves should play an effective role. Materials and Methods: The present research aims to evaluate the status of patients' rights, patient awareness-raising efforts, and the consequent informed consent for transfusion order purposes in hospitals. To this end, the interview was conducted on 181 patients under surgery. The data were finally analyzed using SPSS software version 23. Results: In the present study, 109 men and 72 women were interviewed, of whom only 15 patients (8.25%) were aware of the likelihood of blood transfusion pre- or perioperative and further only 5 (2.76%) had received the adequate information on (dis) advantages of blood transfusion. Finally, after we provided precise information about (dis) advantages of blood transfusion and the alternatives, it came out to be known that the patients' decision out of the four choices of (1) homologous transfusion, (2) preoperative anemia treatment, (3) postoperative anemia treatment, and (4) autologous transfusion is estimated to be significant before they were given information compared with that of after. Discussion: The status of information sharing with patients and that of the patient informed consent procedure in Iran hospitals are weak and require serious reconsideration as far as patients' rights are concerned. Informing patients on (dis) advantages of blood transfusion and the alternatives can be a very effective measure in PBM success in Iran.