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The purpose of this paper is to examine the effects of golden parachutes on shareholders' wealth when the measure is used as a compensation device instead of a takeover defense. The results show that the adoption of the measure has a negative influence on shareholders' wealth. These negative results are more prevalent for firms with an operating performance above their industry peers and are significantly influenced by the previous performance of the firm and the size of the golden parachute.

Event study and regression analysis.

The results show that the adoption of the measure has a negative influence on shareholders' wealth. These negative results are more prevalent for firms with an operating performance above their industry peers and are significantly influenced by the previous performance of the firm and the size of the golden parachute.

Investors will have more information about the reaction of stock markets at the announcement of golden parachutes.

The paper presents a new evaluation of the adoption of golden parachutes on shareholders' wealth when the measure is used as a compensation device instead of a takeover defense.

This chapter addresses how Black, Asian Minority Ethnic (BAME) Chief Executive Officers (CEOs) of Multi-academy Trusts (MATs) with track records of outstanding school improvement navigate turbulence when leading school improvement to optimise students’ learning. There are different ideas of what it means to have equitable access and equitable outcomes in education systems, and beyond, and how to live a good life on the journey to both. These different ideas and values’ systems have different intersectionalities of recognition by ‘the other’ in societies. Crenshaw argues, once these intersectionalities of discrimination have been identified, it will be possible to understand what Dewey calls their intrinsic nature and to seek ways to reconnect the isolated, and marginalised that are subjects of discrimination. The BAME CEOs articulate the current Public Governance of Education Systems that induces fear of forced takeovers and job insecurity creates a kind of divide and conquer approach of colonialism and intersectionalities of discrimination. The chapter identifies BAME CEOs want to create cultures where they can make a commitment to take the time to know the self, in relationship with the other, and build bridges between different groups in society for equity, renewal, trust, and peace in our time. The BAME CEOs wishing to empower others to engage in this moral training for democracy in education need to have and share the thinking tools to prevent community members from being manipulated by people who wish to rush them into new ways of thinking and doing. Change requires giving mature citizens the time and space to think things through by: asking good questions, critiquing the evidence underpinning the change, inquiring into the logic of the change and holding the moral compass of the change to check the direction steers a sure and steady ethical course with what Adler calls the primary virtues of social justice, prudently and with courage.

This chapter presents a comparative analysis of the English, Northern Irish, Arab Israeli, Trinidad and Tobago and the US cases. The focus is what we have learned from the research about: the relationships within Education Governance Systems to navigate turbulence; building capacity for empowering senior-level leaders to deliver on their manifestos and outstanding track records for school improvement; reducing the achievement gap between dominant groups and marginalised groups in International Governance Systems. The chapter identifies that all cases require participatory multi-stakeholder action to develop and support collaborative networked learning communities in practice. Such communities of and for practice need to Empower Young Societal Innovators for Equity and Renewal (EYSIER). Policy and Education Governance Systems have the potential to synthesise the best of what has been said and done in the past, with innovative ways of working by empowering networks of knowledge building and advocacy. These networks co-create opportunities for action learners to work together to describe intersectionalities of discrimination and begin to remove fear of discrimination and marginalisation from Education Governance Systems. From this position, senior-level leaders can work with their leaders, teachers, parents and students to optimise how learning about the self, and learning how to learn improves community education for all students and EYSIER.

The purpose of this paper is to synthesize a body of research addressing changes in academic identity brought on by neo-liberal university management while proposing a new interpretation based on the institutional work theory and a relational approach to agency.

The authors analyzed 19 qualitative empirical studies regarding the impact of new public management policies on academic identity within universities from different countries to support a qualitative meta-synthesis.

The meta-synthesis established a classification of work identity and self-identity that reflects variable but globally difficult experiences with the universities’ neo-liberal management. The results also indicate that, paradoxically, academics contribute to the perpetuation of managerialism through protection strategies and institutional maintenance work while acknowledging their painful effects on their identity. Despite the control and monitoring measures put in place by university administrations, academics have assumed a pragmatic approach to identity by using the prevailing spaces of autonomy and engaging in constant self-questioning. Those involved could make better use of these free spaces by adopting projective agency, that is by expanding the areas of support, collaboration and creativity that, by their own admission, make up the academic profession.

This meta-synthesis sheds light on the limits of current academic identity research while advancing studies conducted on institutional work, primarily by highlighting the type of agency used by actors during institutional change; at a practical level, this research promotes discussion on the manner in which academics could use their agency and reflexive skills by pushing their institutional work surrounding identity recreation further.

This paper examines the exercise of Black employee voice in South Africa over the past 53 years. Black workers constitute almost 4 out of every 5 workers in the country and experienced racial oppression from the time of colonisation up to the end of apartheid in 1994. They are still congregated around the lower skilled occupations with low incomes and high unemployment levels.

The paper draws on the theory of voice, exit and loyalty of Albert Hirschman, but extends voice to include sabotage as this encapsulates the nature of employee voice from about 2007 onwards. It reflects a culture of insurgence that entered employment relations from about that time onwards, but was lurking below the surface well before then.

The exercise of employee voice has gone through five phases from 1963 to mid-2016 starting with a silent phase for the first ten years when it was hardly heard at all. However, as a Black trade union movement emerged after extensive strikes in Durban in 1973, employee voice grew stronger and stronger until it reached an insurgent phase.

The phases employee voice went through were heavily influenced by the socio-political situation in the country. The reason for the emergence of an insurgent phase was due to the failure of the ruling African National Congress government to deliver services and to alleviate the plight of the poor in South Africa, most of whom are Black. The failure was due to neo-patrimonialism and corruption practised by the ruling elite and politically connected. Protests by local communities escalated and became increasingly violent. This spilled over into the workplace. As a result many strikes turned violent and destructive, demonstrating voice exercised as sabotage and reflecting a culture of insurgence.

To encourage radical social theory in a time dominated by a sense of cultural despair and the futility of social transformation to reimagine the possibilities for innovation inherent in such end times. Such a time of ending can also by its nature serve to inspire new beginnings.

To call social theorists as part of their vocation to look for signs of and cultivate such new beginnings.

Such an inquiry must pry and probe beneath the surface of cultural expression and political movements in a time of cultural repression to deeper aspirations for change and renewal, in particular in this case, to the culture of fantasy in literature, cinema and other complex and often veiled forms of expression.

To offer ways for theorists and teachers to begin exploring and encouraging wherever possible the release of the transformative imagination. The social implications involve the reanimation and rekindling of a radical social imagination: by generating dialogue and new ways of thinking it serves as one of the precursors of genuine social movements for change and specifically today for conceptualizing a post-industrial, post-liberal society.

As discussed directly, this essay is original not in asserting the profound role of the political, moral, and utopian imagination in spurring movements for change, but in characterizing this period – one of narrow factualism/literalism, instrumentalism, and pragmatism – as one ripe for such a renewal of the imaginative project.

This paper seeks to evaluate the role and the nature of the interventions by primary healthcare organizations in Quebec during the ice storm of 1998. The two basic questions are: to what extent CLSC perform their socio‐community mission during this disaster? Are there some contingencies factors that explain variation between CLSC in their intervention?

Data collection is based on face to face discussion held with 19 managers responsible for the disaster's plan for their CLSC, 59 professionals that took an active and direct role in disaster interventions and 25 collaborators from municipalities and diverse community organisms. On top of the face to face discussions, a questionnaire was remitted to all the interviewees.

The research provides a qualified analysis of the interventions of the CLSCs and identifies what works well (performance factors), what went wrong (non performance factors) and what varies from one territory to another (variance or contingencies factors). The results of this research corroborate most of the reports brought about by the theories of disaster management planning to the look at the importance of plans, the development of a culture of prevention and of civil security, the importance of the training as much for the leaders as for the professionals. Moreover, primary healthcare organizations such as CLSC's in Quebec have a strategic positioning in disaster because of the multidisciplinary functioning of their teams and their knowledge of the local community.

The research is limited to the interventions of CLSCs and the interventions of other professionals of the health system or from volunteers are not considered.

The social community mission of organizations such as the CLSC can be optimized using four specific plans: the clientele plan, the training plan, the local consultation plan and the multidisciplinary plan. Specific recommendations on each aspect are identified to help managers and professionals in the attainment of their socio‐communitarian mission.

The research provides interesting data on the contribution of multidisciplinary teams (nurses, doctors, social workers, psychologists, ergotherapists, etc.) as well as from their managers and first line collaborators. It puts in evidence their strengths and weaknesses and identifies ways of improving disaster interventions.

Complementing prior research by Staw et al. (“Threat‐rigidity effects in organizational behavior: a multilevel analysis”, Administrative Science Quarterly, Vol. 26 No. 4, 1981, pp. 501‐24), the authors develop a new conceptual model of organizational change, “autogenic crisis”. The authors’ update of Staw et al.’s threat‐rigidity model shows that top managers may initiate strategic “pre‐adaptations” to future crises, thereby using latent threat to generate organizational flexibility, learning, renewal and, possibly, longer life.