Agency and similarity effects and the VC’s attitude towards academic spin-out investing

Our research seeks to develop understanding of the factors explaining venture capital investment managers’ attitudes towards investment in the unique context of academic spin-outs. We provide a novel integration of both VC fund characteristics and investment managers’ human capital characteristics with a unique hand-collected dataset of 68 early stage VC investment managers in Europe. Attitudes toward academic spin-out investing are positively affected by the presence of public sector capital and by investment managers who are more intensively involved with the entrepreneur. Specific human capital in investment managers who had worked in an academic environment is more likely associated with investment in academic spin-outs. In terms of general human capital, financial experience is positively related while entrepreneurial experience is negatively associated with investment attitude towards academic spin-outs. There may be a need to facilitate the attraction of people from industry and investment banking into public VC funds in particular.     

Networking in the Penumbra: Public Management,Cooptative Links,and Distributional Consequences

ABSTRACT

Recently, some researchers have begun to emphasize that governance networks can have a “dark” side as well as a relatively benign one. This work thus far has mostly emphasized illegal and violent forms of action. But even networks that operate in accord with the law often include covert, or at minimum difficult-to-observe, ties and pathways of influence. Likewise, managers involved in networking engage in behavior that is only partially observable. They can use their discretion to shape network action in ways that are hard to discern—and therefore analyze. Research on such subjects is limited, and the practical results of such behavior can include lack of accountability as well as inequitable distribution of outputs and outcomes. This article shows that individual network nodes can work to bias the actions of the organization in ways that are likely to benefit the organization's more advantaged clientele. This study reports on tests for differential impacts of managerial interactions of and with various network partners. The argument is supported with an analysis of performance data from 500 organizations over an eight-year period. Networks and managerial networking can generate considerable benefits but can also have a less palatable impact that managers and scholars need to consider seriously.     

Revisiting the Meaning of Development: A Multidimensional Taxonomy of Developing Countries

Many have challenged the use of income per capita as the primary proxy for measuring development since Seers’s seminal works. This article continues this tradition with a more recent twist. We use cluster analysis to build a multidimensional taxonomy of developing countries using a set of indicators covering four conceptual frames on ‘development’. The value-added of the article is not to suggest that our classification is the end in itself, but – more modestly – to demonstrate that more work on taxonomies is required in light of the weakness of classifications based solely on income and the changing distribution of global poverty.     

In The Thick of It: ‘high politics’ and the Holocaust in millennial Britain

ABSTRACT

Over the past twenty years, state-sponsored activities related to the Holocaust have been numerous in Britain. Beginning with the creation of Holocaust Memorial Day at the turn of the millennium, successive governments have followed a policy trajectory that has brought forth a slew of new initiatives and projects related to the Holocaust and its memory. Most recently, this has included the creation of a new national memorial and learning centre, to be housed adjacent to the Palace of Westminster. With cross-party support and the pledge of £50 million of public funds, this lieu de memoire is due to open in January 2020. Conceiving of these activities as exercises in ‘high’ Holocaust politics, Pearce’s article examines the various memory-projects of recent decades and argues they reveal much about millennial Britain and its Holocaust culture. He contends that the nature of these and other initiatives means high Holocaust politics must be subject to continued scrutiny and interrogation.     

Counterfeit tobacco in London: local crime requires an international solution

The supply of counterfeit tobacco, illegally manufactured tobacco passed off as legitimate products, is a global problem that costs many governments millions of dollars annually in lost revenue. This paper looks at one end of this supply network: Kurdish refugee street sellers of counterfeit tobacco in Islington, North London. Local initiatives to deal with the criminal activity of the street sellers have been ineffective and at best have resulted in only a temporary interruption to activities. With little agreement amongst local agencies as to what constitutes the ‘problem’, and with local shoppers giving a higher priority to other neighbourhood issues, it would appear that efforts need to be focussed on interrupting the supply of counterfeit cigarettes before they reach the sellers. The WHO Framework Convention on Tobacco Control, proposing marking of tobacco products, information sharing and mutual legal assistance, may offer a solution and is expected to produce a protocol for adoption in 2010.     

Alaska public health law reform

The Turning Point Model State Public Health Act (Turning Point Act), published in September 2003, provides a comprehensive template for states seeking public health law modernization. This case study examines the political and policy efforts undertaken in Alaska following the development of the Turning Point Act. It is the first in a series of case studies to assess states' consideration of the Turning Point Act for the purpose of public health law reform. Through a comparative analysis of these case studies and ongoing legislative tracking in all fifty states, researchers can assess (1) how states codify the Turning Point Act into state law and (2) how these modernized state laws influence or change public health practice, leading to improved health outcomes.     

Cultural explanation and organizational crime

Both the number and influence of organizations increased dramatically during the 20^th century, which helps explain why the problem of organizational crime has received attention from investigators. Growing interest in organizational and corporate crime has been matched by interest in organizational culture. Variation in organizational culture is employed to explain many aspects of organizational performance, from effectivenessin goal attainment to criminal conduct. There are reasons, however, to be critical of theoretical constructions and empirical investigations of organizational culture. There is both considerable ambiguity about its meaning and an implicit assumption of intra-organizational cultural uniformity. Cultural explanations were developed principally in case studies, empirical analyses are flawed, and supportive post hoc interpretations ofinteresting or enigmatic findings are commonplace. The influence of hierarchy and agency as constraints on organizational culture has received insufficient attention. We interpret the appeal of organizational culture despite the absence of demonstrated predictive value, and we call for additional research on sources of variation in organizational crime.