KNOWLEDGE AND MODELS OF CORPORATE GOVERNANCE

The issue of corporate governance has been largely debated in the literature. Conventionally, corporate governance is viewed either from a stakeholder or a shareholder perspective. This paper discusses the informational aspects of the two models of corporate governance. The role information plays in corporate governance cannot be overstated. Agents involved in corporate governance acquire, create, use and transmit information. Therefore, how the notion of knowledge is conceived is important for the analysis of alternative systems of corporate governance. Basically, there are two types of information processing: internalization and externalization. The internalization-based information processing system corresponds to the stakeholder model of corporate governance. A shareholder model of corporate governance relies on information externalization. Externalization of information is made via the market price system.knowledge, economics of information, information processing, corporate governance, market-based corporate governance

Aminoglycoside-Induced Phosphatidylserine Externalization in Sensory Hair Cells Is Regionally Restricted, Rapid, and Reversible

The aminophospholipid phosphatidylserine (PS) is normally restricted to the inner leaflet of the plasma membrane. During certain cellular processes, including apoptosis, PS translocates to the outer leaflet and can be labeled with externally applied annexin V, a calcium-dependent PS-binding protein. In mouse cochlear cultures, annexin V labeling reveals that the aminoglycoside antibiotic neomycin induces rapid PS externalization, specifically on the apical surface of hair cells. PS externalization is observed within ~75 s of neomycin perfusion, first on the hair bundle and then on membrane blebs forming around the apical surface. Whole-cell capacitance also increases significantly within minutes of neomycin application, indicating that blebbing is accompanied by membrane addition to the hair cell surface. PS externalization and membrane blebbing can, nonetheless, occur independently. Pretreating hair cells with calcium chelators, a procedure that blocks mechanotransduction, or overexpressing a phosphatidylinositol 4,5-biphosphate (PIP2)-binding pleckstrin homology domain, can reduce neomycin-induced PS externalization, suggesting that neomycin enters hair cells via transduction channels, clusters PIP2, and thereby activates lipid scrambling. The effects of short-term neomycin treatment are reversible. After neomycin washout, PS is no longer detected on the apical surface, apical membrane blebs disappear, and surface-bound annexin V is internalized, distributing throughout the supranuclear cytoplasm of the hair cell. Hair cells can therefore repair, and recover from, neomycin-induced surface damage. Hair cells lacking myosin VI, a minus-end directed actin-based motor implicated in endocytosis, can also recover from brief neomycin treatment. Internalized annexin V, however, remains below the apical surface, thereby pinpointing a critical role for myosin VI in the transport of endocytosed material away from the periphery of the hair cell

Hearing Without Ears

We report on on-going work investigating the feasibility of using tissue conduction to evince auditory spatial perception. Early results indicate that it is possible to coherently control externalization, range, directionality (including elevation), movement and some sense of spaciousness without presenting acoustic signals to the outer ear. Signal control techniques so far have utilised discrete signal feeds, stereo and 1st order ambisonic hierarchies. Some deficiencies in frontal externalization have been observed. We conclude that, whilst the putative components of the head related transfer function are absent, empirical tests indicate that coherent equivalents are perceptually utilisable. Some implications for perceptual theory and technological implementations are discussed along with potential practical applications and future lines of enquiry

Tissue-conducted spatial sound fields

We describe experiments using multiple cranial transducers to achieve auditory spatial perceptual impressions via bone (BC) and tissue conduction (TC), bypassing the peripheral hearing apparatus. This could be useful in cases of peripheral hearing damage or where ear-occlusion is undesirable. Previous work (e.g. Stanley and Walker 2006, MacDonald and Letowski 2006)1,2 indicated robust lateralization is feasible via tissue conduction. We have utilized discrete signals, stereo and first order ambisonics to investigate control of externalization, range, direction in azimuth and elevation, movement and spaciousness. Early results indicate robust and coherent effects. Current technological implementations are presented and potential development paths discussed

Limited Liability and the Known Unknown

Limited liability is a double-edged sword. On the one hand, limited lia-bility may help overcome investors’ risk aversion and facilitate capital formation and economic growth. On the other hand, limited liability is widely believed to contribute to excessive risk-taking and externaliza-tion of losses to the public. The externalization problem can be mitigated imperfectly through existing mechanisms such as regulation, mandatory insurance, and minimum capital requirements. These mechanisms would be more effective if information asymmetries between industry and poli-cymakers were reduced. Private businesses typically have better infor-mation about industry-specific risks than policymakers. A charge for limited liability entities—resembling a corporate income tax but calibrated to risk levels—could have two salutary effects. First, a well-calibrated limited liability tax could help compensate the public fisc for risks and reduce externalization. Second, a limited liability tax could force private industry actors to reveal information to policymakers and regulators, thereby dynamically improving the public response to externalization risk. Charging firms for limited liability at initially similar rates will lead relatively low-risk firms to forgo limited liability, while relatively high-risk firms will pay for limited liability. Policymakers will then be able to focus on the industries whose firms have self-identified as high risk, and thus develop more finely tailored regulatory responses. Because the ben-efits of making the proper election are fully internalized by individual firms, whereas the costs of future regulation or limited liability tax changes will be borne collectively by industries, firms will be unlikely to strategically mislead policymakers in electing limited or unlimited lia-bility. By helping to reveal private information and focus regulators’ at-tention, a limited liability tax could accelerate the pace at which poli-cymakers learn, and therefore, the pace at which regulations improve

Collaborative Practices that Support Creativity in Design

Design is a ubiquitous, collaborative and highly material activity. Because of the embodied nature of the design profession, designers apply certain collaborative practices to enhance creativity in their everyday work. Within the domain of industrial design, we studied two educational design departments over a period of eight months. Using examples from our fieldwork, we develop our results around three broad themes related to collaborative practices that support the creativity of design professionals: 1) externalization, 2) use of physical space, and 3) use of bodies. We believe that these themes of collaborative practices could provide new insights into designing technologies for supporting a varied set of design activities. We describe two conceptual collaborative systems derived from the results of our study

Metaphor, Objects, and Commodities

This article is a contribution to a symposium that focuses on the ideas of Margaret Jane Radin as a point of departure, and particularly on her analyses of propertization and commodification. While Radin focuses on the harms associated with commodification of the person, relying on Hegel's idea of alienation, we argue that objectification, and in particular objectification of various features of the digital environment, may have important system benefits. We present an extended critique of Radin's analysis, basing the critique in part on Gadamer's argument that meaning and application are interrelated and that meaning changes with application. Central to this interplay is the speculative form of analysis that seeks to fix meaning, contrasted with metaphorical thought that seeks to undermine some fixed meanings and create new meanings through interpretation. The result is that speculative and metaphorical forms are conjoined in an interactive process through which new adaptations emerge. Taking this critique an additional step, we use examples from contemporary intellectual property law discourse to demonstrate how an interactive approach, grounded in metaphor, can yield important insights

The Contradiction of Crimmigation

This essay argues that we should find Crimmigration, which is the collapsing of immigration law with criminal law, morally problematic for three reasons. First, it denies those who are facing criminal penalties important constitutional protections. Second, it doubly punishes those who have already served their criminal sentence with an added punishment that should be considered cruel and unusual (i.e., indefinite imprisonment or exile). Third, when the tactics aimed at protecting and serving local communities get usurped by the federal government for immigration enforcement purposes, they often undermine these original aims or get used in ways that conflict with the U.S. Constitution. These concerns should prompt us therefore either to reject the government’s plenary power over immigration or require the federal government to be more consistent about maintaining the separation between criminal law and immigration law