La gouvernance d’entreprise en dehors des États-Unis : mécanismes obligatoires oulibrement consentis?

L’article vise à étudier l’intérêt d’instaurer, àl’instar des États-Unis, des normes obligatoires de gouvernance.L’étude est menée au Canada où les règles de gouvernance sont librementconsenties. En revanche, une grande proportion des entreprises canadiennes inscritesen bourse sont aussi cotées sur une bourse américaine et doivent, par conséquent, sesoumettre aux règles obligatoires énoncées par la Security and Exchange Commission(SEC). Le coeur de la démarche vise donc à comparer les normes de gouvernance pourdes entreprises simultanément cotées aux États-Unis et au Canada d’une part,et uniquement au Canada d’autre part. Les résultats de l’étude démontrent qu’un régime de gouvernanceobligatoire a un effet plutôt mitigé sur les pratiques de gouvernance desentreprises. Par contre, la taille de l’entreprise influence positivementl’adoption des règles de bonne gouvernance alors que la présence d’unactionnaire dominant a un effet inverse. Dans l’ensemble, les résultatssupportent la position de ceux qui prônent le maintien d’un régime degouvernance volontaire au Canada.The article looks at the significance of introducing, like the United States,compulsory norms of governance. The study is conducted in Canada where governanceregulations are freely consented to. However, the shares of a large proportion ofCanadian companies listed on the stock exchange are also traded on an American stockexchange and, consequently, these companies must adhere to the compulsoryregulations of the Security and Exchange Commission (SEC). The approach focuses oncomparing the norms of governance of companies whose shares are tradedsimultaneously in the U.S. and Canada, and on the other hand, traded solely inCanada. Results of the study show that a compulsory governance regime has a limitedeffect on companies' governance practices. However, the size of the company has apositive influence with regard to adopting rules of good governance, whereas thepresence of a majority shareholder has the opposite effect. Overall, results supportthe position of those who advocate maintaining a voluntary governance regime inCanada

L’analyse comparative de la performance entre les entreprises publiques et les entreprises privées : le problème de mesure et son impact sur les résultats

De nombreuses recherches ont été réalisées au cours des 30 dernières années pour vérifier si la forme de propriété a un effet déterminant sur la performance. Cette étude met en lumière le problème de mesure qui caractérise ce type de recherche et qui découle des disparités, parfois importantes, entre les objectifs poursuivis par les entreprises publiques et les entreprises privées. Nous procédons à une revue des études empiriques dans le domaine en prenant soin d’identifier les situations où le problème de mesure est le plus manifeste. Nous en évaluons l’impact sur les résultats. Dans l’ensemble, les résultats de notre analyse suggèrent que les différences d’objectifs entre les entreprises expliquent en partie leurs différences de performance.A lot of research has been devoted so far to analyze the impact of ownership on firm performance. This study highlights the potential measurement selection bias of this research as a result of public and private firms pursuing different objectives. We review the literature on ownership comparison and identify situations where we believe the measurement bias is deemed to be more critical. We then evaluate the impact on the empirical evidence. Overall, the study suggests that the differences in the objectives between public and private firms are important in order to explain the differences in their performance

A simple and robust method for pre-wetting poly (lactic-co-glycolic) acid microspheres

Poly (lactic-co-glycolic) acid microspheres are amenable to a number of biomedical procedures that support delivery of cells, drugs, peptides or genes. Hydrophilisation or wetting of poly (lactic-co-glycolic) acid are an important pre-requisites for attachment of cells and can be achieved via exposure to plasma oxygen or nitrogen, surface hydrolysis with NaOH or chloric acid, immersion in ethanol and water, or prolonged incubation in phosphate buffered saline or cell culture medium. The aim of this study is to develop a simple method for wetting poly (lactic-co-glycolic) acid microspheres for cell delivery applications. A one-step ethanol immersion process that involved addition of serum-supplemented medium and ethanol to PLGA microspheres over 30 min–24 h is described in the present study. This protocol presents a more efficient methodology than conventional two-step wetting procedures. Attachment of human skeletal myoblasts to poly (lactic-co-glycolic) acid microspheres was dependent on extent of wetting, changes in surface topography mediated by ethanol pre-wetting and serum protein adsorption. Ethanol, at 70% (v/v) and 100%, facilitated similar levels of wetting. Wetting with 35% (v/v) ethanol was only achieved after 24 h. Pre-wetting (over 3 h) with 70% (v/v) ethanol allowed significantly greater (p ≤ 0.01) serum protein adsorption to microspheres than wetting with 35% (v/v) ethanol. On serum protein-loaded microspheres, greater numbers of myoblasts attached to constructs wetted with 70% ethanol than those partially wetted with 35% (v/v) ethanol. Microspheres treated with 70% (v/v) ethanol presented a more rugose surface than those treated with 35% (v/v) ethanol, indicating that more efficient myoblast adhesion to the former may be at least partially attributed to differences in surface structure. We conclude that our novel protocol for pre-wetting poly (lactic-co-glycolic) acid microspheres that incorporates biochemical and structural features into this biomaterial can facilitate myoblast delivery for use in clinical settings.This project was supported by grants from the UK Medical Research Council (MR/L002752/1) and Sir Halley Stewart Trust. The research was undertaken at UCL/UCLH which receives funding from the Department of Health’s NIHR as a Comprehensive Biomedical Research Centre.Published versio

A multi-decade record of high quality fCO2 data in version 3 of the Surface Ocean CO2 Atlas (SOCAT)

The Surface Ocean CO2 Atlas (SOCAT) is a synthesis of quality-controlled fCO2 (fugacity of carbon dioxide) values for the global surface oceans and coastal seas with regular updates. Version 3 of SOCAT has 14.7 million fCO2 values from 3646 data sets covering the years 1957 to 2014. This latest version has an additional 4.6 million fCO2 values relative to version 2 and extends the record from 2011 to 2014. Version 3 also significantly increases the data availability for 2005 to 2013. SOCAT has an average of approximately 1.2 million surface water fCO2 values per year for the years 2006 to 2012. Quality and documentation of the data has improved. A new feature is the data set quality control (QC) flag of E for data from alternative sensors and platforms. The accuracy of surface water fCO2 has been defined for all data set QC flags. Automated range checking has been carried out for all data sets during their upload into SOCAT. The upgrade of the interactive Data Set Viewer (previously known as the Cruise Data Viewer) allows better interrogation of the SOCAT data collection and rapid creation of high-quality figures for scientific presentations. Automated data upload has been launched for version 4 and will enable more frequent SOCAT releases in the future. High-profile scientific applications of SOCAT include quantification of the ocean sink for atmospheric carbon dioxide and its long-term variation, detection of ocean acidification, as well as evaluation of coupled-climate and ocean-only biogeochemical models. Users of SOCAT data products are urged to acknowledge the contribution of data providers, as stated in the SOCAT Fair Data Use Statement. This ESSD (Earth System Science Data) “living data” publication documents the methods and data sets used for the assembly of this new version of the SOCAT data collection and compares these with those used for earlier versions of the data collection (Pfeil et al., 2013; Sabine et al., 2013; Bakker et al., 2014). Individual data set files, included in the synthesis product, can be downloaded here: doi:10.1594/PANGAEA.849770. The gridded products are available here: doi:10.3334/CDIAC/OTG.SOCAT_V3_GRID

Electrospun collagen-based nanofibres: A sustainable material for improved antibiotic utilisation in tissue engineering applications

For the creation of scaffolds in tissue engineering applications, it is essential to control the physical morphology of fibres and to choose compositions which do not disturb normal physiological function. Collagen, the most abundant protein in the human body, is a well-established biopolymer used in electrospinning compositions. It shows high in-vivo stability and is able to maintain a high biomechanical strength over time. In this study, the effects of collagen type I in polylactic acid-drug electrospun scaffolds for tissue engineering applications are examined. The samples produced were subsequently characterised using a range of techniques. Scanning electron microscopy analysis shows that the fibre morphologies varied across PLA-drug and PLA-collagen-drug samples − the addition of collagen caused a decrease in average fibre diameter by nearly half, and produced nanofibres. Atomic force microscopy imaging revealed collagen-banding patterns which show the successful integration of collagen with PLA. Solid-state characterisation suggested a chemical interaction between PLA and drug compounds, irgasan and levofloxacin, and the collagen increased the amorphous regions within the samples. Surface energy analysis of drug powders showed a higher dispersive surface energy of levofloxacin compared with irgasan, and contact angle goniometry showed an increase in hydrophobicity in PLA-collagen-drug samples. The antibacterial studies showed a high efficacy of resistance against the growth of both E. coli and S. Aureus, except with PLA-collagen-LEVO which showed a regrowth of bacteria after 48 h. This can be attributed to the low drug release percentage incorporated into the nanofibre during the in vitro release study. However, the studies did show that collagen helped shift both drugs into sustained release behaviour. These ideal modifications to electrospun scaffolds may prove useful in further research regarding the acceptance of human tissue by inhibiting the potential for bacterial infection

Chapter 4 PREDICTING RESPONSES OF GEO-ECOLOGICAL CARBONATE REEF SYSTEMS TO CLIMATE CHANGE: A CONCEPTUAL MODEL AND REVIEW

oceanography, climate change, reefs, marine science, marine conservation, marine researc