Program Leadership from a Nordic Perspective - Program Leaders' Power to Influence Their Program

Поточний інформаційний список містить перелік статей про Сумський державний університет з періодичних видань, які надійшли до бібліотеки за лютий

Program Leadership from a Nordic Perspective - Managing Education Development

Nordic Five Tech (N5T) is a strategic alliance between five technical universities in Denmark, Finland, Norway and Sweden. The overall aim is to “utilize shared and complementary strengths and create synergy within education, research and innovation”. In this paper we focus on university educational development issues by investigating the program leadership at five Nordic technical universities. Specifically, the paper compares definitions, views and experiences of education leadership in the Nordic Five Tech (N5T) universities. The paper does this by, first, reviewing the definitions of roles and responsibilities for program directors at each university, and second, by presenting results from a survey carried out in March 2012 among program directors at the N5T universities. Based on this data, we analyze how program directors experience their role, their possibilities to lead, and their opportunities of learning to lead. How is time for reflection and development as leaders handled at the different universities? The paper goes on to consider what impact the mandate of the leadership role has on the possibilities for developing educational programs. For instance, how can program directors ensure that learning objectives concerning generic skills and abilities are reached? How can program directors drive implementation of integrative and value-oriented topics such as sustainable development, innovation and entrepreneurship

The Equal Bid Principle: An Analysis of the Thirteenth Council Takeover Directive of the European Union

This paper analyzes the economic consequences of a proposal from the EU Commission: "The Amended Proposal for a Thirteenth Council Directive on Company Law, Concerning Takeover and Other General Bids" (1990). By implementing the Equal Bid Principle, the Directive enforces a potential bidder to extend the same tender offer price to all shareholders. The paper demonstrates that it is likely that the effect of the Equal Bid Principle is directly opposed to the declared goal of protecting the economic interests of shareholders in the target company. Moreover, it tends towards a direction opposite to the declared goal of stimulating corporate acquisitions. Copyright Blackwell Publishers Ltd 1997.

Pyramidal Discounts: Tunneling or Overinvestment?-super-

Swedish families exploit the strong separation between ownership and control in pyramiding to establish control over several firms' internal cash flows via a very small capital investment. We establish that the discounts on the portfolio firms at the bottom of the pyramid as well as pyramid holding company are directly linked to costs from overinvestment that increase with the separation between ownership and control. In a financially developed economy where pyramids are transparent and the tax system regulates the flow of dividends within the pyramid and to shareholders, the primary cause of the discounts is not tunneling but overinvestment costs. Copyright (c) 2009 The Authors. Journal compilation (c) International Review of Finance Ltd. 2009.

Why Agency Costs Explain Diversification Discounts

We study diversificsation within the real estate industry because of its relative transparency: portfolio management of assets with well-defined market prices. Diversification is over property types and geographical regions. The major cause of the diversification discount is not diversification "per se" but anticipated costs due to rent dissipation in future diversifying acquisitions. Firms expected to pursue nonfocusing strategies do indeed diversify more, are valued "ex ante" at a 20% discount over firms anticipated to follow a focusing strategy, are predominantly privately controlled and use dual-class shares extensively. The "ex ante" diversification discount is, therefore, a measure of agency costs. Copyright Blackwell Publishers Ltd 2001.

The regulation of corporate acquisitions: A law and economics analysis of European proposals for Rreform

This article examines the regulation of corporate acquisitions in Europe from a law and economics perspective. It concludes that the reform proposals do not meet the stated goal of encouraging acquisitions. Rather, the proposed rules will inhibit acquisitions, which in turn will likely result in less exposure of incumbent management to market discipline and inefficiencies in the allocation of productive resources in Europe