Top Management Team Diversity: A systematic Review

Empirical research investigating the impact of top management team (TMT) diversity on executives’ decision making has produced inconclusive results. To synthesize and aggregate the results on the diversity-performance link, a meta-regression analysis (MRA) is conducted. It integrates more than 200 estimates from 53 empirical studies investigating TMT diversity and its impact on the quality of executives’ decision making as reflected in corporate performance. The analysis contributes to the literature by theoretically discussing and empirically examining the effects of TMT diversity on corporate performance. Our results do not show a link between TMT diversity and performance but provide evidence for publication bias. Thus, the findings raise doubts on the impact of TMT diversity on performance

Cosmological Constraints from Galaxy Clusters in the 2500 square-degree SPT-SZ Survey

(abridged) We present cosmological constraints obtained from galaxy clusters identified by their Sunyaev-Zel'dovich effect signature in the 2500 square degree South Pole Telescope Sunyaev Zel'dovich survey. We consider the 377 cluster candidates identified at z>0.25 with a detection significance greater than five, corresponding to the 95% purity threshold for the survey. We compute constraints on cosmological models using the measured cluster abundance as a function of mass and redshift. We include additional constraints from multi-wavelength observations, including Chandra X-ray data for 82 clusters and a weak lensing-based prior on the normalization of the mass-observable scaling relations. Assuming a LCDM cosmology, where the species-summed neutrino mass has the minimum allowed value (mnu = 0.06 eV) from neutrino oscillation experiments, we combine the cluster data with a prior on H0 and find sigma_8 = 0.797+-0.031 and Omega_m = 0.289+-0.042, with the parameter combination sigma_8(Omega_m/0.27)^0.3 = 0.784+-0.039. These results are in good agreement with constraints from the CMB from SPT, WMAP, and Planck, as well as with constraints from other cluster datasets. Adding mnu as a free parameter, we find mnu = 0.14+-0.08 eV when combining the SPT cluster data with Planck CMB data and BAO data, consistent with the minimum allowed value. Finally, we consider a cosmology where mnu and N_eff are fixed to the LCDM values, but the dark energy equation of state parameter w is free. Using the SPT cluster data in combination with an H0 prior, we measure w = -1.28+-0.31, a constraint consistent with the LCDM cosmological model and derived from the combination of growth of structure and geometry. When combined with primarily geometrical constraints from Planck CMB, H0, BAO and SNe, adding the SPT cluster data improves the w constraint from the geometrical data alone by 14%, to w = -1.023+-0.042

Worker remittances and the global preconditions of ‘smart development’

With the growing environmental crisis affecting our globe, ideas to weigh economic or social progress by the ‘energy input’ necessary to achieve it are increasingly gaining acceptance. This question is intriguing and is being dealt with by a growing number of studies, focusing on the environmental price of human progress. Even more intriguing, however, is the question of which factors of social organization contribute to a responsible use of the resources of our planet to achieve a given social result (‘smart development’). In this essay, we present the first systematic study on how migration – or rather, more concretely, received worker remittances per GDP – helps the nations of our globe to enjoy social and economic progress at a relatively small environmental price. We look at the effects of migration on the balance sheets of societal accounting, based on the ‘ecological price’ of the combined performance of democracy, economic growth, gender equality, human development, research and development, and social cohesion. Feminism in power, economic freedom, population density, the UNDP education index as well as the receipt of worker remittances all significantly contribute towards a ‘smart overall development’, while high military expenditures and a high world economic openness are a bottleneck for ‘smart overall development’

SPT-GMOS: A GEMINI/GMOS-SOUTH SPECTROSCOPIC SURVEY OF GALAXY CLUSTERS IN THE SPT-SZ SURVEY

We present the results of SPT-GMOS, a spectroscopic survey with the Gemini Multi-Object Spectrograph (GMOS) on Gemini South. The targets of SPT-GMOS are galaxy clusters identified in the SPT-SZ survey, a millimeter-wave survey of 2500 deg2 of the southern sky using the South Pole Telescope (SPT). Multi-object spectroscopic observations of 62 SPT-selected galaxy clusters were performed between 2011 January and 2015 December, yielding spectra with radial velocity measurements for 2595 sources. We identify 2243 of these sources as galaxies, and 352 as stars. Of the galaxies, we identify 1579 as members of SPT-SZ galaxy clusters. The primary goal of these observations was to obtain spectra of cluster member galaxies to estimate cluster redshifts and velocity dispersions. We describe the full spectroscopic data set and resulting data products, including galaxy redshifts, cluster redshifts, and velocity dispersions, and measurements of several well-known spectral indices for each galaxy: the equivalent width, W, of [O ii] λλ3727, 3729 and H-δ, and the 4000 Å break strength, D4000. We use the spectral indices to classify galaxies by spectral type (i.e., passive, post-starburst, star-forming), and we match the spectra against photometric catalogs to characterize spectroscopically observed cluster members as a function of brightness (relative to m [star symbol]). Finally, we report several new measurements of redshifts for ten bright, strongly lensed background galaxies in the cores of eight galaxy clusters. Combining the SPT-GMOS data set with previous spectroscopic follow-up of SPT-SZ galaxy clusters results in spectroscopic measurements for >100 clusters, or ~20% of the full SPT-SZ sample.National Science Foundation (U.S.) (AST-1009012

Assessing managerial power theory: A meta-analytic approach to understanding the determinants of CEO compensation

Although studies about the determinants of CEO compensation are ubiquitous, the balance of evidence for one of the more controversial theoretical approaches, managerial power theory, remains inconclusive. The authors provide a meta-analysis of 219 U.S.-based studies, focusing on the relationships between indicators of managerial power and levels of CEO compensation and CEO pay-performance sensitivities. The results indicate that managerial power theory is well equipped for predicting core compensation variables such as total cash and total compensation but less so for predicting the sensitivity of pay to performance. In most situations where CEOs are expected to have power over the pay setting process, they receive significantly higher levels of total cash and total compensation. In contrast, where boards are expected to have more power, CEOs receive lower total cash and total compensation. In addition, powerful directors also appear to be able to establish tighter links between CEO compensation and firm performance and can accomplish this even in the face of powerful CEOs. The authors discuss the implications for theory and research regarding the determinants of executive compensation