Enhancing Egress Drills: Preparation and Assessment of Evacuee Performance

This article explores how egress drills-specifically those related to fire incidents-are currently used, their impact on safety levels, and the insights gained from them. It is suggested that neither the merits of egress drills are well understood, nor the impact on egress performance well characterized. In addition, the manner in which they are conducted varies both between and within regulatory jurisdictions. By investigating their strengths and limitations, this article suggests opportunities for their enhancement possibly through the use of other egress models to support and expand upon the benefits provided. It is by no means suggested that drills are not important to evacuation safety-only that their inconsistent use and the interpretation of the results produced may mean we (as researchers, practitioners, regulators, and stakeholders) are not getting the maximum benefit out of this important tool

Foreign ownership, bank information environments, and the international mobility of corporate governance

This paper investigates how foreign ownership shapes bank information environments. Using a sample of listed banks from 60 countries over 1997–2012, we show that foreign ownership is significantly associated with greater (lower) informativeness (synchronicity) in bank stock prices. We also find that stock returns of foreign-owned banks reflect more information about future earnings. In addition, the positive association between price informativeness and foreign ownership is stronger for foreign-owned banks in countries with stronger governance, stronger banking supervision, and lower monitoring costs. Overall, our evidence suggests that foreign ownership reduces bank opacity by exporting governance, yielding important implications for regulators and governments