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Responding to a public outcry about the level of executive compensation in many corporations as well as the apparent weak linkage between performance and pay, on October 15, 1992, the SEC (US Securities and Exchange Commission) adopted new rules affecting corporate disclosure of compensation. These rules require that executive compensation and company performance be clearly presented, and that the compensation committee of the board of directors explain how they arrived at their compensation decisions. The new rule affects the 1993 proxy statements of all but the smallest publicly‐traded US corporations, and applies to results from the 1992 fiscal‐year.

January 27, 1967 Master and servant — Maintenance of suit — Trade union's paid officials — Defamation action — Circular to union members containing allegations that officials unfit to be employed by union — Legal assistance to officials for libel actions out of union funds — Whether maintenance — No express power in union rules — Express provision for payment of legal assistance confined to subscribing members — Whether reasonable for good employer to support litigation — Whether implied power to support officials' litigation.

It is now common for finance textbooks to discuss the concepts of the CAPM, diversification benefit, and systematic risk, as measured by beta. The purpose of this paper is to clarify aspects of these concepts and make the textbooks readers aware of them. In particular, this paper seeks to: (1) clarify the notion that “diversification reduces risk,” (2) provide geometric expositions and algebraic expressions of portfolio benefits in the context of both total risk and market risk, and (3) improve the interpretation of beta.

The paper aims to explore the extent to which the legal experience of minority shareholder actions in Hong Kong supports the sociological model of the Chinese family firm as developed by Wong Siu‐lun and reports some preliminary findings for the period 1980‐1995.

This paper is based upon the analysis of 275 minority shareholder petitions in the High Court of Hong Kong between the years 1980 and 1995 inclusive. It also draws upon material from a questionnaire sent to law firms involved in those petitions and interviews with members of the Hong Kong judiciary with experience of hearing minority shareholder cases, members of the legal profession and accounting and company secretarial professions directly or indirectly involved in the administration of companies in Hong Kong and regulators.

The findings indicate that the problematic early, emergent stage of the model as described by Wong Siu‐lun is quite accurate. Whilst there is considerable support for some aspects of the model of the Chinese family firm, the experience indicates a number of complex dynamics at play, some of which the model does not take into account. However, the findings, at least by implication, do point to the cohesive strength of the Chinese family firm with occasional fault lines resulting in some “disputes” of earthquake proportions which may rumble on in some cases for years.

The findings demonstrate the usefulness of lifecycle modeling of the family and other type of corporate firm. It also demonstrates some of the complex subtleties at play. The findings also have implications for the law matters thesis of La Porta et al.

This is one of the first studies to actually examine the legal experience of minority shareholder protection in a particular jurisdiction (Hong Kong) by examining the petitions and writs actually filed and relating them to a sociological model of the Chinese Family firm.

Improved creditor and community protection seemed attainable goals when Professor Daniel Prentice described s. 214 of the Insolvency Act (‘s. 214’) as ‘one of the most important developments in company law this century’. The profession and academics perceived that wrongful trading in its legislative form had a bright future because it promised to provide much needed protection. ‘Wrongful trading’ was introduced to minimise the abuse of limited liability by company officers. An honest director could not be liable for a company's debt despite reckless, unreasonable and cavalier business practices. Insolvency practitioners were having difficulty establishing dishonesty under the fraudulent trading provisions. The courts demanded a strict standard of proof for fraudulent trading and many cases never made it to court despite a prospect of recovery against directors. Wrongful trading by comparison is a recent development that, in theory, refines the standard of a director's duty and clarifies that conduct need not be fraudulent, illegal or unconscionable to attract legislative censure. Section 214 measures a director's conduct against a minimum standard of commercial morality and competence.

This issue is a selected bibliography covering the subject of leadership.

Aarhus Kommunes Biblioteker (Teknisk Bibliotek), Ingerslevs Plads 7, Aarhus, Denmark. Representative: V. NEDERGAARD PEDERSEN (Librarian).

It has often been said that a great part of the strength of Aslib lies in the fact that it brings together those whose experience has been gained in many widely differing fields but who have a common interest in the means by which information may be collected and disseminated to the greatest advantage. Lists of its members have, therefore, a more than ordinary value since they present, in miniature, a cross‐section of institutions and individuals who share this special interest.

The dominance of road transport, both on passenger and freight movements, has reached alarming levels in what concerns their negative environmental impacts as well as societal and economic costs. To reverse this trend, a technology-driven approach and a behavioral change attitude need to be pursued. Promising results have been reported in Europe in the reduction of vehicle ownership, due to the introduction of an alternative transport mode known as car sharing. This work evaluates the contribution of car sharing to sustainable transport, based both in a technological shift and a potential behavioral change.

The state of the art on car sharing and policies presents the effects of these systems and how they have been promoted. As those effects can vary according to the geographical area, the users profile, and service characteristics, a worldwide analysis on car sharing systems covering more than 400 cities was performed. Average service indicators were quantified and characterization variables were accounted to those cities’ urban areas. Considering those normalized values, the authors performed an analysis of the car sharing system in Lisbon (Portugal). An initial assessment was made to estimate its current energy and environmental impacts. This outcome was then compared with the environmental and economic effects of using alternative vehicle technologies in car sharing. The results obtained enable a discussion of the more important variables for the success of the system and, consequently, to choose what policy instruments can help car sharing to succeed.

The results of the existing car sharing schemes reveal the positive contribution of car sharing to fill a “mobility gap” in sustainable transport. It works as a complement to other sustainable transport options and it impacts positively both society and car-sharers in terms of mobility costs, environmental, and energy implications. These results are more significant if a technology shift to electric mobility is promoted. Within the case study in Lisbon, the adoption of electric mobility would allow decreases up to 47% and 65% in energy consumption and CO₂ emissions, respectively. Moreover, the present value economic analysis revealed that, these systems will only be economically viable after approximately 7 years. A sensitivity analysis to the economic model was performed showing that the variables having higher influence were cost-related variables (reducing the break-even timeframe from 36% to 57%), such as vehicle purchase cost, insurance, maintenance and tax costs, and fuel cost.

Car sharing systems generally present social benefits to society as it leads to the reduction of car ownership, with all the positive effects that has on a lower demand for parking space, less congestion, reduced local pollutants and emissions. If the technology used by car sharing vehicles shifts from conventional to another type of technology, the effects both for society and car sharers are even more appealing from a social point of view. In the particular case study approached in the chapter, given the small scale of the car sharing network and low usage patterns, the local results have a low social impact at the city scale. A larger promotion of the system either with a more aggressive marketing campaign targeting specific population niches (e.g., environmentally conscious people), larger vehicle and parking availability, or better integration with the city’s public transport system could foster the deployment of the system, similarly to other cities.

Overall, the results obtained from this research work quantify the contribution of car sharing to sustainable transport and highlights the positive effects of promoting a technological shift. These facts reinforce the need for public policies to support the integration of car sharing within the city’s solutions to promote a more sustainable mobility. The successful deployment of car sharing systems can be influenced by policies targeting features such as allocation of parking, the fees and complementarity with public transport, signage and markings, and marketing of social and environmental benefits.

This study aims to explore how a relational brand experience can be designed using an integrated retail experience. It addresses the research gap between relational brand experience strategy, retail experience design, as well as online-offline integration, by providing applicable tools and knowledge.

Based on a literature review, a relational experience analytical framework (REAF) was developed as a diagnostic tool for relational brand experience. A case study was then conducted using the REAF to determine the relational brand experience factors, strategies in practice and related initiatives.

Three distinguishing integrated relational brand experience factors were identified (online-offline integration, overall activeness and the centre of relationships). A typology for an integrated relational brand experience was established with clarifying experiential characteristics and the required initiatives for each type. Based on the findings, a framework was proposed for an integrated brand experience design and its application in the retail experience design process.

The frameworks and strategies proposed can serve as a guide to industry professionals in designing integrated relational brand experiences.

The theoretical contributions of this study are in clarifying the relational brand experience dimensions and an integrated relational brand experience strategy typology. It also illustrates the strategic application of integrated retail experience based on a brand experience strategy using the proposed framework and the process.