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To explain an increasingly common practice of the US Securities and Exchange Commission (SEC) by which it seeks to “claw back” bonus and incentive compensation paid to CFOs of companies charged with accounting fraud, regardless of the personal involvement, knowledge, or culpability of the CFOs.

This article details the facts underlying a recent SEC accounting fraud settlement through which two former CFOs of a company charged with fraud agreed to repay their bonuses and incentive compensation, despite not having been accused of any wrongdoing. The article goes on to outline the historic use of Section 304(a) of the Sarbanes-Oxley Act of 2002 (SOX), the provision that endows the SEC with this enforcement authority, in search of guidance for when and why the SEC may choose to exercise its authority under this provision.

The SEC’s inconsistent use of its enforcement authority under Section 304(a) leaves chief financial officers potentially subject to individual liability and ill-equipped to modify their behaviour in order to prevent it.

This article intends to raise industry awareness about the potential exercise of the broad enforcement power available to the SEC under Section 304(a) and call attention to the lack of guidance provided to corporate officers to avoid liability under this provision.

We issue a double Souvenir number of The Library World in connection with the Library Association Conference at Birmingham, in which we have pleasure in including a special article, “Libraries in Birmingham,” by Mr. Walter Powell, Chief Librarian of Birmingham Public Libraries. He has endeavoured to combine in it the subject of Special Library collections, and libraries other than the Municipal Libraries in the City. Another article entitled “Some Memories of Birmingham” is by Mr. Richard W. Mould, Chief Librarian and Curator of Southwark Public Libraries and Cuming Museum. We understand that a very full programme has been arranged for the Conference, and we have already published such details as are now available in our July number.

Purpose – The purpose of this chapter is to introduce the conceptual and historical genesis of the gradual release of responsibility (GRR) model (Pearson & Gallagher, 1983) which has become one of the most commonly used instructional frameworks for research and professional development in the field of reading and literacy.

Design/Methodology/Approach – This chapter uses a narrative, historical approach to describe the emergence of the model in the work taking place in the late 1970s and early 1980s in reading research and educational theory, particularly at the Center for the Study of Reading at the University of Illinois, Champaign-Urbana as carried out by David Pearson, Meg Gallagher, and their colleagues.

Findings – The GRR Model began, in part, in response to the startling findings of Dolores Durkin’s (1978/1979) study of reading comprehension instruction in classrooms which found that little instruction was occurring even while students were completing numerous assignments and question-response activities. Pearson and Gallagher were among those researchers who took seriously the task of developing an instructional model and approach for comprehension strategy instruction that included explicit instruction. They recognized a need for teachers to be responsible for leading and scaffolding instruction, even as they supported learners in moving toward independent application of strategies and independence in reading. Based in the current research in the reading field and the rediscovery of the work of Vygotsky (1978) and the descriptions of scaffolding as coined by Wood, Bruner, and Ross (1976), Pearson and Gallagher developed the model of gradual release. Over time, the model has been adapted by many literacy scholars, applied to curriculum planning, used with teachers for professional development, reprinted numerous times, and with the advent of the Internet, proliferated even further as teachers and educators share their own versions of the model. This chapter introduces readers to the original model and multiple additional representations/iterations of the model that emerged over the past few decades. This chapter also attends to important nuances in the model and to some misconceptions of the instructional model.

Research Limitations/Implications – Despite the popularity of the original GRR model developed by Pearson and Gallagher and the many adaptations of the model by many collaborators and colleagues in literacy – and even beyond – there have been very few publications that have explored the historical and conceptual origins of the model and its staying power.

Practical Implications – This chapter will speak to researchers, teachers, and other educators who use the GRR model to help guide thinking about instruction in reading, writing, and other content areas with children, youth, pre-service teachers, and in-service teachers. This chapter provides a thoughtful discussion of multiple representations of the gradual release process and the nuances of the model in ways that will help to dispel misuse of the model while recognizing its long-standing and sound foundation on established socio-cognitive principles and instructional theories such as those espoused by Jerome Bruner, Lev Vygotsky, Anne Brown, and others.

Originality/Value of Paper – This chapter makes an original contribution to the field in explaining the historical development and theoretical origins of the GRR model by Pearson and Gallagher (1983) and in presenting multiple iterations of the model developed by Pearson and his colleagues in the field.

The purpose of this paper is to argue and explore how local meaning-making processes of leaders also occur in embodied and affective registers. The paper aims to introduce the theoretical concept of affect to studies of local public leadership.

The paper reports from an ethnographic study of local leaders managing educational institutions in Denmark. The paper takes a constructivist or interpretive approach where it is acknowledged that data is not just out-there ready to be collected and reported but is constructed and interpreted in particular manners as part of the complex encounter between researcher and field.

The paper zooms in one particular instance where a leader breaks down in tears and where the tears seem to evoke a particular affective atmosphere. Thus, the paper shows how, just below the elite narrative of a need for stronger, individual and more evidence-based management, we find a myriad of meaning-making processes that transgress distinctions between the corporeal, affective and discursive.

As an ethnography conducted in a local setting, the paper avoids broad generalisations. The findings reflect the theoretical ambition of discussing the role of embodiment and affect in local leadership as much as the studied setting.

The study testify to how policy implementation can take many unexpected turns as local leaders interpret and make sense of policy ambitions in many different ways. Moreover, it testifies to how leaders are informed by embodied experiences and affective atmospheres in their sense-making processes.

The paper is one of the first attempts in public leadership to discuss the role of embodiment and affect in local public leadership.

We find evidence that the runs on banks and trust companies in the Panic of 1907 were linked to the Bank of England’s contractionary monetary policy actions taken in 1906 and 1907 through the medium of copper prices. Results from our vector autoregressive models and copper stockpile data support our argument that a copper commodity price channel may have been active in transmitting the Bank’s policy to the New York markets. Archival evidence suggests that the plunge in copper prices may have partially triggered both the initiation and the failure of an attempt to corner the shares of United Copper, and in turn, the bank and trust company runs related to that transaction’s failure. We suggest that the substantial short-term uncertainties accompanying the development of the copper-intensive electrical and telecommunications industries likely played a role in the plunge in copper prices. Additionally, we find evidence that the copper price transmission mechanism was also likely active in five other countries that year. While we do not argue that copper caused the 1907 crisis, we suggest that it was an active policy transmission channel amplifying the classic effect that was already spreading through the money market channel. If the bust in copper prices partially triggered the 1907 panic, then it provides additional evidence that contractionary monetary policy may have had an unintended, adverse consequence of contributing to a bank panic and, therefore, supports other recent findings that monetary policy deliberations might benefit from considering the policy impact on asset prices.

This paper aims to contribute to the emerging body of research on firestorms, specifically on the inflammatory user-generated content (UGC) created in response to brand transgressions. By analyzing and segmenting UGC created and shared in the wake of three different events, the authors identify which type of inflammatory message is most likely to be widely shared; thus, contributing to a possible online firestorm.

Tweets were collected involving brand transgressions in the retail, fast food and technology space from varying timeframe and diverse media coverage. Then, the tweets were coded for message intention and analyzed with linguistics software to determine the message characteristics and framing. A two-step cluster analysis identified three types of UGC.

The authors found that message dimensions and the framing of tweets in the context of brand transgressions differed in characteristics, sentiment, call to action and the extent to which the messages were shared. The findings contradict traditional negative word-of-mouth studies involving idiosyncratic service and product failure. During online brand firestorms, rational activism messages with a call to action, generated in response to a firm’s transgression or “sparks,” have a higher likelihood of being shared (virality).

This research provides novel insights into UGC created after brand transgressions. Different types of messages created after these events vary in the extent that they “fan the flames” of the transgression. A message typology and flowchart are provided to assist managers in identifying and responding to three message types: ash, sparks and embers.

The purpose of this paper is to investigate the long-run equilibrium relationship between developed, emerging and frontier markets of the Asia-Pacific region during January 2000 to June 2016.

Zivot and Andrews’ unit root test is used to examine the existence of unit root in index series in the presence of a structural break. Gregory and Hansen’s test of cointegration is employed to examine the stable long-run relationship between the indices under study.

The results suggest that the emerging markets of China and Thailand and the frontier markets of Sri Lanka and Pakistan are fairly segmented from most of the markets in the Asia-Pacific region. Hence, these markets provide good diversification opportunities to global investors. Bidirectional cointegration analysis indicates that emerging and frontier markets influence developed markets. Hence, it can be inferred that the de facto position that only bigger markets influence small markets no longer holds true in the current environment.

The findings of this study will provide valuable inputs to global investors for creating an optimal investment portfolio.

This study does a comprehensive examination of market integration in the Asia-Pacific region. It also contributes to the thin body of work done on frontier markets. Unlike past studies, this paper analyzes the bidirectional cointegration relationship to examine if the notion that only bigger markets influence smaller markets holds true or not. Finally, this study employs advanced techniques of unit root test and cointegration test that consider structural breaks in the models.

Seldom is a book relevant to the entire spectrum of libraries we encounter. However Axelrod’s Elizabeth ICEO is one such work. Highly readable his examination of Elizabeth I from the perspective of a business leader and manager contains several strategic lessons that librarians and especially financial managers can apply to stay viable in our current political and financial climate. Whether from the public or private library viewpoint the two reviewers of this work remark that there is much to be gleaned from Elizabeth I’s aggressive leadership style and political acumen which is relevant in managing today’s libraries. While there is nothing new in the information presented the fresh approach interesting reading and use of a historical figure to examine today’s issues drive home important tenets which the head of any successful organization not only needs to know but also must practice.

The following classified, annotated list of titles is intended to provide reference librarians with a current checklist of new reference books, and is designed to supplement the RSR review column, “Recent Reference Books,” by Frances Neel Cheney. “Reference Books in Print” includes all additional books received prior to the inclusion deadline established for this issue. Appearance in this column does not preclude a later review in RSR. Publishers are urged to send a copy of all new reference books directly to RSR as soon as published, for immediate listing in “Reference Books in Print.” Reference books with imprints older than two years will not be included (with the exception of current reprints or older books newly acquired for distribution by another publisher). The column shall also occasionally include library science or other library related publications of other than a reference character.