Does female representation on corporate boards improve intellectual capital efficiency?

© 2019, Emerald Publishing Limited. Purpose: The purpose of this paper is to analyse the relationship between female representation on corporate boards and intellectual capital (IC) efficiency – while prior studies focus on the relationship between gender diversity and firms’ financial performance. Design/methodology/approach: Drawing on data from top 500 UK listed firms for 2007–2016 (3,279 firm-years), this study employs an adjusted-value-added intellectual coefficient as a measure of IC efficiency. Further, the two-step system-generalised method of moments has been applied to account for endogeneity issues. Findings: The results reveal a significant positive relationship between female representation on boards and IC efficiency, including human capital, structural/innovation capital and financial capital efficiency. These results are robust to alternative proxies for the independent variable and difference-in-difference estimation. Practical implications: The results posit that female representation on boards is associated with IC efficiency, which is vital for firms’ value creation and competitive advantage in the knowledge-economy era. The study also endorses current legislation to increase female representation on corporate boards. Originality/value: This is among the limited studies to explore the role of female representation on boards in IC efficiency – while most prior studies relate IC efficiency to financial performance

Boardroom gender diversity and CEO pay deviation: Australian evidence

© 2020 Accounting and Finance Association of Australia and New Zealand We study whether boardroom gender diversity affects CEO pay. Specifically, we investigate the association between boardroom gender diversity and CEO pay deviation from the optimal level of CEO pay based on firm characteristics and market performance. Using a sample of 2,288 firm-year observations for the period 2006–2014, we find that boardroom gender diversity is negatively associated with CEO pay deviation, suggesting that firms with gender-diverse boards are cautious about the consequences of CEO pay deviation (under/overpayment), and thus likely to bridge the gap between CEO actual pay and expected pay. These findings provide important insights to the global discussion on executive compensation. Our findings are robust to alternative variable specifications, propensity score matching, difference-in-differences estimations, and generalised method of moments

Implication of HR components on Employee Performance: A comparative analysis of Public & Private Sector employees

Globalization and technological advancement has made market competitive. To survive in market every organization needs to maintain high performance. It can only be possible when the employees working in organization perform more efficiently than competitors. Increase in competition of market has made employee performance a big question to organization for its survival in global competition. Study reveals performance of employee is affected by various component of human resource management i.e. Job satisfaction, leadership, training &development and work stress. HRM is managing people effectively and efficiently to achieve strategic aims of organization. This study focuses on analyzing the impact of HR components on performance of employee. It also compares impact of HR component respect to public and private organizations. The study finds HR components have significant positive relationship with employee performance except work stress. Study also interprets findings irrespective of organization type

Geotechnical characteristics of effluent contaminated cohesive soils

In developing countries like Pakistan, raw industrial effluents are usually disposed-off directly into open lands or in water bodies resulting in soil contamination. Leachate formation due to rainfalls in openly dumped solid waste also adds to soil contamination. In this study, engineering behavior of soils contaminated by two industrial effluents, one from paper industry (acidic) and another from textile industry (basic), has been investigated. Laboratory testing revealed significant effects of effluent contamination on engineering behavior of tested soils. Liquid limit, plasticity index, optimum moisture content and compression index of tested soils were found to increase with effluent contaminant, indicating a deterioration in the engineering behavior of soils. Whereas maximum dry density, undrained shear strength and coefficient of consolidation of the contaminated soils showed a decreasing trend. The dilapidation in engineering characteristics of soils due to the addition of industrial effluents could pose serious threats to existing and future foundations in terms of loss of bearing capacity and increase in settlement. Keywords: soil contamination, industrial waste, engineering behavior, effluent waste, leachate. First published online: 28 Nov 201

Do LGBT Workplace Diversity Policies Create Value for Firms?

We show that the U.S. anti-discriminatory laws prohibiting discrimination in the workplace based on sexual orientation and gender identity (i.e. lesbian, gay, bisexual, and transgender (LGBT) identities) spur innovation, which ultimately leads to higher firm performance. We use the Human Rights Campaign’s Corporate Equality Index (CEI) of 398 (1592 firm-year observations) U.S. firms between 2011 and 2014, and find a significantly positive relationship between CEI and firm innovation. We also find that an interacting effect of CEI and firm innovation leads to higher firm performance. We use our understanding of Rawls’ Theory of Justice and stakeholder theory to show that firms with workplace diversity policies are likely to be more innovative and perform better than those without such policies. Our results are robust to endogeneity, reverse causality and simultaneity issues. Our results will trigger debate in similar markets around the globe on the economic benefits of LGBT workplace diversity policies for firms

Clinical characteristics, management and outcome of major pulmonary embolism: an experience from a tertiary care center in Pakistan.

Objective: To evaluate the clinical characteristics, risk factors, management and outcome of major pulmonary embolism (PE) in a tertiary care center of Karachi. Methods: Medical records of all patients who underwent a spiral CT scan of the chest for suspected pulmonary embolism were reviewed between January 2000 and June 2007 at the Aga Khan University Hospital, Karachi. Patients having evidence of major pulmonary embolism on spiral CT scan were selected. Results: A total of 30 patients (10 males, 20 females) with mean age 52 ± 14.59 years were identified who fulfilled our predefined criteria for major pulmonary embolism. Risk factors for thromboembolism were identified in 22 (73%) patients, prolonged immobilization in 8 (27%) and recent surgery in 8 (27%) patients being the commonest. All patients were symptomatic on presentation. Tachypnea and tachycardia were present in 27 (90%) patients. Refractory hypoxia was present in 18 (60%) patients and 3 (10%) were hypotensive on presentation. On spiral CT scan, 8 (27%) patients had embolus in the main pulmonary trunk, 26 (87%) patients in main right pulmonary artery and 20 (67%) patients had left main pulmonary artery embolus. Echocardiography was done in 22 (73%) patients with the findings of right ventricular dysfunction in all of them. All patients except one were treated with anticoagulation with either heparin infusion or low molecular weight heparin. In addition, thrombolytics were given in 7 (23%) patients and five (17%) underwent surgical embolectomy. Four (13%) patients died during hospitalization with a total of 26 (87%) surviving till hospital discharge. Conclusion: Major pulmonary embolism is an uncommon but potentially life threatening entity. Early diagnosis and aggressive therapy improves the clinical outcome

The Role of Fiscal Policy in Human Development: The Pakistan’s Perspective

Human development considered as the engine of the economic growth as it improves the economy’s strength and increases the standard of living of the people, increases the choices and maximises the welfare of the society that is the prime objective of any government. The development of the human capabilities is also necessary for the sustainable growth, as there are many channels through which human development foster the economic growth. It increases the labour productivity, labour demand, employment and output. On the other hand, human capital also attracts physical capital.1 Empirically, it is very difficult to have an exact measure of human development and social welfare. Several proxies used to measure human development, e.g. GNI per capita as a measure of standard of living, Purchasing Power Parity (PPP) criterion to measure the cost of living and to measure the welfare, average year of schooling, school enrolment rate and health expenditures as a percentage of GDP to capture this composite welfare and development indicator. A fair index of Human Development Index (HDI) was developed by United Nations Development Programme in 1990. This index based on the standard of living (natural logarithm of GDP PPP per capita), access to knowledge (adult literacy rate with two-third weighting and the remaining is the gross enrolment ratio) and a healthy life (life expectancy at birth). The value of index varies from 0 to 1, lower the HDI, lesser would be the human development and welfare in the country or vice versa