Pragmatic engagement in a low trust supply chain: Beef farmers’ perceptions of power, trust and agency

The academic discussion of power in supply chains has changed from a discussion of the use of coercive power to one which emphasizes the role of trust in embedding co-operation and disincentivizing opportunism. Whilst a number of empirical studies have suggested the former is alive and well, this paper argues that power relations may also be constituted by the self-perceptions of weaker actors as much as by the explicit actions of more powerful ones. This study explores the role of power through the perceptions of subjugated actors, which set the ‘rules of the game’. Our case centres on perceptions of Northern Irish beef farmers and their reflections on their ‘powerlessness’ in relation to the larger, more consolidated processors that they sell to. We find that the way farmers make sense of the power relations they encounter is influenced by the individuating character of the power relations exercised by the processors, which debilitates their ability to collaborate and resist collectively. What emerges is a story about the process of accommodation whereby farmers pragmatically resign themselves to play by ‘the rules of the game’ to remain ‘part of the game’

Pay and the Pandemic:The decoupling of Dutch boardroom pay from performance during the Covid-19 outbreak

The shareholder value revolution has coincided with rapid increases in Dutch top managers’ pay. Theoretically, rising executive bonuses should reflect improved corporate performance, as measured by a series of operational and shareholder value indicators. However, critics argue that in practice the relationship between pay and performance is weak. Given its negative impact on the finances of most firms, the Covid-19 pandemic provides an insightful test case. What happened to Dutch executives’ pay during the pandemic? Our detailed analysis of the remuneration packages paid out to Dutch top managers before and during the outbreak of the Covid-19 pandemic shows that whilst executive pay rose quickly when economic conditions werefavourable, it continued to rise at the aggregate level even when the crisis hit. Despite sharp falls in profitability and the receipt of unprecedented levels of government support in 2020, average levels of remuneration of Dutch top managers increased by 15 per cent in the same year. Pay for performance practices have thus fostered a system that leads to large increases in pay for small improvements, while substantial decreases in pay are rare, even under the most dire circumstances. More broadly, our empirical results show how the growing financialization and shareholder orientation adopted over the past three decades has promoted a gradual hollowing out of many large Dutch companies. The case of executive pay offers a lens through which we can observe some of the implications of these trends

Corporate Governance for Sustainability

The current model of corporate governance needs reform. There is mounting evidence that the practices of shareholder primacy drive company directors and executives to adopt the same short time horizon as financial markets. Pressure to meet the demands of the financial markets drives stock buybacks, excessive dividends and a failure to invest in productive capabilities. The result is a ‘tragedy of the horizon’, with corporations and their shareholders failing to consider environmental, social or even their own, long-term, economic sustainability. With less than a decade left to address the threat of climate change, and with consensus emerging that businesses need to be held accountable for their contribution, it is time to act and reform corporate governance in the EU. The statement puts forward specific recommendations to clarify the obligations of company boards and directors and make corporate governance practice significantly more sustainable and focused on the long term

Mapping genetic variations to three- dimensional protein structures to enhance variant interpretation: a proposed framework

The translation of personal genomics to precision medicine depends on the accurate interpretation of the multitude of genetic variants observed for each individual. However, even when genetic variants are predicted to modify a protein, their functional implications may be unclear. Many diseases are caused by genetic variants affecting important protein features, such as enzyme active sites or interaction interfaces. The scientific community has catalogued millions of genetic variants in genomic databases and thousands of protein structures in the Protein Data Bank. Mapping mutations onto three-dimensional (3D) structures enables atomic-level analyses of protein positions that may be important for the stability or formation of interactions; these may explain the effect of mutations and in some cases even open a path for targeted drug development. To accelerate progress in the integration of these data types, we held a two-day Gene Variation to 3D (GVto3D) workshop to report on the latest advances and to discuss unmet needs. The overarching goal of the workshop was to address the question: what can be done together as a community to advance the integration of genetic variants and 3D protein structures that could not be done by a single investigator or laboratory? Here we describe the workshop outcomes, review the state of the field, and propose the development of a framework with which to promote progress in this arena. The framework will include a set of standard formats, common ontologies, a common application programming interface to enable interoperation of the resources, and a Tool Registry to make it easy to find and apply the tools to specific analysis problems. Interoperability will enable integration of diverse data sources and tools and collaborative development of variant effect prediction methods

Finance as ‘bizarre bazaar’: using documents as a source of ethnographic knowledge

Markets and finance have long attracted ethnographic interest but the nature of their activity - opaque, secretive, and increasingly placeless – precludes traditional ethnographic fieldwork. In this paper we propose documents as an alternative access point to these organisations as an ethnographic object of enquiry. Documents do not only present a written record, they also enact relationships and encode tacit understandings. We develop Geertz’s work on the bazaar by taking an indire ct route to access the field site – Collateral Debt Obligations – through documents. In reading these documents, we assume the position of investors who, in the absence of alternative publicly available information, are dependent on the documentary accounts made available to them by the sellers. These media act in ways that are similar to tourist guidebooks, a comparison we use to reframe the exchange as one that builds upon sociocultural relations rather than the abstract market relationships described by m ainstream economists. We propose that these documents are not merely representational artefacts of the organisation, but serve to establish and maintain social relationships between buyers and sellers through the management, standardisation and ritualisati on of information disclosed to the investor

Exploring new physics frontiers through numerical relativity

The demand to obtain answers to highly complex problems within strong-field gravity has been met with significant progress in the numerical solution of Einstein's equations - along with some spectacular results - in various setups. We review techniques for solving Einstein's equations in generic spacetimes, focusing on fully nonlinear evolutions but also on how to benchmark those results with perturbative approaches. The results address problems in high-energy physics, holography, mathematical physics, fundamental physics, astrophysics and cosmology

CMS physics technical design report : Addendum on high density QCD with heavy ions

Peer reviewe

Genetic mechanisms of critical illness in COVID-19.

Host-mediated lung inflammation is present1, and drives mortality2, in the critical illness caused by coronavirus disease 2019 (COVID-19). Host genetic variants associated with critical illness may identify mechanistic targets for therapeutic development3. Here we report the results of the GenOMICC (Genetics Of Mortality In Critical Care) genome-wide association study in 2,244 critically ill patients with COVID-19 from 208 UK intensive care units. We have identified and replicated the following new genome-wide significant associations: on chromosome 12q24.13 (rs10735079, P = 1.65 × 10-8) in a gene cluster that encodes antiviral restriction enzyme activators (OAS1, OAS2 and OAS3); on chromosome 19p13.2 (rs74956615, P = 2.3 × 10-8) near the gene that encodes tyrosine kinase 2 (TYK2); on chromosome 19p13.3 (rs2109069, P = 3.98 ×  10-12) within the gene that encodes dipeptidyl peptidase 9 (DPP9); and on chromosome 21q22.1 (rs2236757, P = 4.99 × 10-8) in the interferon receptor gene IFNAR2. We identified potential targets for repurposing of licensed medications: using Mendelian randomization, we found evidence that low expression of IFNAR2, or high expression of TYK2, are associated with life-threatening disease; and transcriptome-wide association in lung tissue revealed that high expression of the monocyte-macrophage chemotactic receptor CCR2 is associated with severe COVID-19. Our results identify robust genetic signals relating to key host antiviral defence mechanisms and mediators of inflammatory organ damage in COVID-19. Both mechanisms may be amenable to targeted treatment with existing drugs. However, large-scale randomized clinical trials will be essential before any change to clinical practice