Exploring the rationale of enlightened shareholder value in the realm of UK company law – the path dependence perspective

Despite conventional beliefs in the predominance of shareholder value, a broader agenda of stakeholder consideration has been advocated in the UK by the recently-introduced ESV principle – the overriding corporate objective in the new company law regime. In this paper, the efficiency of this principle in terms of stakeholder enhancement is challenged through an interdisciplinary analysis. Through a critical review of the ESV principle, it is discovered that stakeholder enhancement practices in the context of the 2006 company law regime are still for the fundamental goal of shareholder value maximisation, and that their enlightened impact has been fairly limited in practice. Furthermore, by revisiting the interrelationships between UK economic, political and cultural factors with the predominance objective of shareholder value maximisation in the Companies Act 2006, it is discovered that the enlightened effect of this new approach in the company law regime is in fact impeded by strong, persistent forces deriving from shareholder-oriented particulars. Providing insight into the future direction of corporate governance practice, the paper concludes the rationale behind the shareholder-oriented ESV principle, and further suggests the continuing predominance of shareholder value in UK corporate governance

The Impact of Enlightened Shareholder Value

This paper documents and analyses the findings of a study conducted in relation to selected reports of all of the retail companies that are listed on the FTSE 100 in order to ascertain the impact of enlightened shareholder value on UK corporate governance. The findings are also analysed in light of other studies and commentary

The Need for Redemptive Discipline in the Christian School

Classroom management and discipline are key components in determining the success of a school. A safe, positive environment increases the potential for quality learning and complete development on the part of every student. However, the resulting behavior of those disciplined is as varied as the systems or methods employed. The aim of this paper is to provide sufficient rationale to support both the subjective probability that a significant difference exists between the recidivism rates of those who are disciplined redemptively and those disciplined punitively and the necessity to conduct future qualitative and quantitative research to validate that theoretical position

Real-time Assessment of Right and Left Ventricular Volumes and Function in Children Using High Spatiotemporal Resolution Spiral bSSFP with Compressed Sensing

Background: Real-time (RT) assessment of ventricular volumes and function enables data acquisition during free-breathing. However, in children the requirement for high spatiotemporal resolution requires accelerated imaging techniques. In this study, we implemented a novel RT bSSFP spiral sequence reconstructed using Compressed Sensing (CS) and validated it against the breath-hold (BH) reference standard for assessment of ventricular volumes in children with heart disease. Methods: Data was acquired in 60 children. Qualitative image scoring and evaluation of ventricular volumes was performed by 3 clinical cardiac MR specialists. 30 cases were reassessed for intra-observer variability, and the other 30 cases for inter-observer variability. Results: Spiral RT images were of good quality, however qualitative scores reflected more residual artefact than standard BH images and slightly lower edge definition. Quantification of Left Ventricular (LV) and Right Ventricular (RV) metrics showed excellent correlation between the techniques with narrow limits of agreement. However, we observed small but statistically significant overestimation of LV end-diastolic volume, underestimation of LV end-systolic volume, as well as a small overestimation of RV stroke volume and ejection fraction using the RT imaging technique. No difference in inter-observer or intra-observer variability were observed between the BH and RT sequences. Conclusions: Real-time bSSFP imaging using spiral trajectories combined with a compressed sensing reconstruction is feasible. The main benefit is that it can be acquired during free breathing. However, another important secondary benefit is that a whole ventricular stack can be acquired in ~20 seconds, as opposed to ~6 minutes for standard BH imaging. Thus, this technique holds the potential to significantly shorten MR scan times in children

The Grace of God in the Law of Moses: A Second Look at Israel’s Written Code

For centuries, the Mosaic Code (“MC”) has been viewed as Israel’s prescriptive legislation, whereby Jewish leaders were to judge infractions by the “letter of the law.” This view is one which permeates both pulpit and pew alike, even in this modern era. However, recent developments in scholarship are challenging this understanding of MC, concluding instead that this “law code” was not utilized in Israelite jurisprudence, but rather as a covenant contract that worked not prescriptively in the lives of the Jews, but rather descriptively, in that it relayed the heart of YHWH to its reader. Accordingly, MC was to be utilized in the civil sphere as idyllic law to help the civil magistrate to formulate just rulings. In the personal and interpersonal realm, this descriptive view of the law was to be utilized to change the individual from the inside out, thereby conforming the heart of the individual to the character and likeness of YHWH. Internal biblical data does show evidence of MC use as a prescriptive legislative tool, but the question must be asked, when did this shift from descriptive to prescriptive take place? This study argues that the conceptual shift of MC to a prescriptive law code took place during the Intertestamental Period, or, during the period of Greek Hellenization. This study likewise argues that during the ministry of Christ, the Lord came to challenge the prescriptive presuppositions of His Jewish counterparts, thus reforming their narrow understanding of MC to one which focuses primarily on the heart

An ancestral secretory apparatus in the protozoan parasite Giardia intestinalis

The protozoan parasite Giardia intestinalis belongs to one of the earliest diverged eukaryotic lineages. This is also reflected in a simple intracellular organization, as Giardia lacks common subcellular compartments such as mitochondria, peroxisomes, and apparently also a Golgi apparatus. During encystation, developmentally regulated formation of large secretory compartments containing cyst wall material occurs. Despite the lack of any morphological similarities, these encystation-specific vesicles (ESVs) show several biochemical characteristics of maturing Golgi cisternae. Previous studies suggested that Golgi structure and function are induced only during encystation in Giardia, giving rise to the hypothesis that ESVs, as a Giardia Golgi equivalent, are generated de novo. Alternatively, ESV compartments could be built on the template structure of a cryptic Golgi in trophozoites in response to ER export of cyst wall material during encystation. We addressed this question by defining the molecular framework of the Giardia secretory apparatus using a comparative genomic approach. Analysis of the corresponding transcriptome during growth and encystation revealed surprisingly little stage-specific regulation. A panel of antibodies was generated against selected marker proteins to investigate the developmental dynamics of the endomembrane system. We show evidence that Giardia accommodates the export of large amounts of cyst wall material through re-organization of membrane compartment(s) in trophozoites with biochemical similarities to ESVs. This suggests that ESVs are selectively stabilized Golgi-like compartments in a unique and archetypical secretory system, which arise from a structural template in trophozoites rather than being generated de novo

Diagnostic Prediction Using Discomfort Drawings with IBTM

In this paper, we explore the possibility to apply machine learning to make diagnostic predictions using discomfort drawings. A discomfort drawing is an intuitive way for patients to express discomfort and pain related symptoms. These drawings have proven to be an effective method to collect patient data and make diagnostic decisions in real-life practice. A dataset from real-world patient cases is collected for which medical experts provide diagnostic labels. Next, we use a factorized multimodal topic model, Inter-Battery Topic Model (IBTM), to train a system that can make diagnostic predictions given an unseen discomfort drawing. The number of output diagnostic labels is determined by using mean-shift clustering on the discomfort drawing. Experimental results show reasonable predictions of diagnostic labels given an unseen discomfort drawing. Additionally, we generate synthetic discomfort drawings with IBTM given a diagnostic label, which results in typical cases of symptoms. The positive result indicates a significant potential of machine learning to be used for parts of the pain diagnostic process and to be a decision support system for physicians and other health care personnel.Comment: Presented at 2016 Machine Learning and Healthcare Conference (MLHC 2016), Los Angeles, C