Defections From The Inner Circle: Social Exchange, Reciprocity, And The Diffusion Of Board Independence In Us Corporations

This study seeks to reconcile traditional sociological views of the corporate board as an instrument of elite cohesion with recent evidence of greater board activism and control over top management. We propose that CEO-directors may typically support fellow CEOs by impeding increased board control over management but that CEO-directors may also foster this change if they have experienced it in their own corporation. Drawing on social exchange theory, we develop and test the argument that these CEO-directors may experience a reversal in the basis for generalized social exchange with other top managers from one of deference and support to one of independence and control. Using data from a large sample of major U.S. corporations over a recent ten-year period, we show (1) how CEO-directors ''defect'' from the network of mutually supportive corporate leaders, (2) how defections have diffused across organizations and over time, and (3) how this has contributed to increased board control, as measured by changes in board structure, diversification strategy, and contingent compensation. We also provide evidence that a social exchange perspective can explain the diffusion of these changes better than more conventional perspectives on network diffusion that emphasize imitation or learning.Business Administratio

Director Reputation, Ceo-Board Power, And The Dynamics Of Board Interlocks

This study advances research on CEO-board relationships, interlocking directorates, and director reputation by examining how contests for intraorganizational power can affect interorganizational ties. We propose that powerful top managers seek to maintain their control by selecting and retaining board members with experience on other, passive boards and excluding individuals with experience on more active boards. We also propose that powerful boards similarly seek to maintain their control by favoring directors with a reputation for more actively monitoring management and avoiding directors with experience on passive boards. Hypotheses are tested longitudinally using CEO-board data taken from 491 of the largest U.S. corporations over a recent seven-year period. The findings suggest that variation in CEO-board power relationships across organizations has contributed to a segmentation of the corporate director network. We discuss how our perspective can reconcile contrary views and debates on whether increased board control has diffused across large U.S. corporations.(.)Managemen

Wavefront sensing of atmospheric phase distortions at the Palomar 200-in. telescope and implications for adaptive optics

Major efforts in astronomical instrumentation are now being made to apply the techniques of adaptive optics to the correction of phase distortions induced by the turbulent atmosphere and by quasi-static aberrations in telescopes themselves. Despite decades of study, the problem of atmospheric turbulence is still only partially understood. We have obtained video-rate (30 Hz) imaging of stellar clusters and of single-star phase distortions over the pupil of the 200" Hale telescope on Palomar Mountain. These data show complex temporal and spatial behavior, with multiple components arising at a number of scale heights in the atmosphere; we hope to quantify this behavior to ensure the feasibility of adaptive optics at the Observatory. We have implemented different wavefront sensing techniques to measure aperture phase in wavefronts from single stars, including the classical Foucault test, which measures the local gradient of phase, and the recently-devised curvature sensing technique, which measures the second derivative of pupil phase and has formed the real-time wavefront sensor for some very productive astronomical adaptive optics. Our data, though not fast enough to capture all details of atmospheric phase fluctuations, provide important information regarding the capabilities that must be met by the adaptive optics system now being built for the 200" telescope by a team at the Jet Propulsion Lab. We describe our data acquisition techniques, initial results from efforts to characterize the properties of the turbulent atmosphere at Palomar Mountain, and future plans to extract additional quantitative parameters of use for adaptive optics performance predictions

Evidence from Strandings for Geomagnetic Sensitivity in Cetaceans

We tested the hypothesis that cetaceans use weak anomalies in the geomagnetic field as cues for orientation, navigation and/or piloting. Using the positions of 212 stranding events of live animals in the Smith sonian compilation which fall within the boundaries of the USGS East-Coast Aeromagnetic Survey, we found that there are highly significant tendencies for cetaceans to beach themselves near coastal locations with local magnetic minima. Monte-Carlo simulations confirm the significance of these effects. These results suggest that cetaceans have a magnetic sensory systemcomparable to that in other migratory and homing animals, and predict that the magnetic topography and in particular the marine magnetic lineations may play an important role in guiding long-distance migration. The ‘map’ sense of migratoryanimals may therefore be largely based on a simple strategy of following paths of local magnetic minima and avoiding magnetic gradients

Industrialization meets globalization

노트 : This paper derives from extensive notes used for a lecture and related seminar given April 18, 2000 at Macalester College, St. Paul, Minnesota under the auspices of its Economics Department's Cargill Distinguished Visitor Program; thanks are due to Macalester's economics faculty for their invitation leading to the paper. Some of the work discussed herein was supported by the United Nations University, Institute for New Technologies, Maastricht, the Netherlands, and by the Joel Dean Foundation's funding of summer research by Swarthmore students in the social sciences; Esther Parker ’97 provided exceptionally able research assistance in the doing of the work