THE POTENTIAL FOR SIGNIFICANT INACCURACIES IN MERGER SIMULATION MODELS

This paper considers the role that merger simulation modelsshould play in European merger control. The use of these models,as off-the-shelf instruments to assess the economic effectsof mergers, has become increasingly widespread in recent years.However, contrary to some claims, merger simulation models donot allow investigators to avoid much of the competitive effectsanalysis relating to the relevant economic market, nor do theynecessarily provide more precision to merger control. Withoutunderstanding the limitations of such models and the circumstancesunder which they can and should be usefully applied, they maynot just be useless, but dangerous in the sense of providingpossibly spurious results with spurious claimed accuracy. Thispaper argues that any merger simulation models used should be"bespoke" models, rather than off-the-shelf models, but cautionsthat even bespoke models will frequently not be as useful asis often claimed. This is not to deny that there are occasionswhen well-constructed bespoke models are genuinely useful anddo offer genuine improvements in merger control.     

Crisis leadership styles—Bligh versus Gillard: a content analysis of Twitter posts on the Queensland floods

This paper presents a quantitative and qualitative content analysis of Twitter posts mentioning Queensland Premier Anna Bligh and Australian Prime Minister Julia Gillard during the 2011 Queensland flood crisis. The contrast in the perceived styles of the two leaders is analysed using the theory of transformational leadership as a framework. The implications for effective leadership communication in a crisis are discussed, notably, strategies for instilling pride and gaining respect and trust. The study also highlights the emerging role of Twitter in setting the media agenda at times of fast‐breaking news. Copyright © 2012 John Wiley & Sons, Ltd.     

Imitating the West? Evidence on Administrative Reform from the Upper Echelons of Chinese Provincial Government

This article explores the attitudes of officials in the upper echelons in Chinese provincial and local government toward the origins of administrative reform. The authors examine the somewhat dichotomous argument that reform imitates the West or is indigenous and contend that both influences are present. Data drawn from a survey of party cadres and government officials show that cultural factors (time in government, overall knowledge of administrative reforms, together with familiarity with the move from a planned system of government to a market economy) and structural variables (upper echelon and familiarity with business management techniques) are correlated with learning from the West. Cadres and officials who spend more time managing outward and those who are familiar with performance assessment do not learn from the West. The theoretical and research implications of these findings—that learning from the West is an important influence on the adoption of administrative reforms in China—are discussed.     

Geophysical Monitoring of Simulated Clandestine Graves Using Electrical and Ground‐Penetrating Radar Methods: 0–3 Years After Burial*,†

Abstract: This study provides forensic search teams with systematic geophysical monitoring data over simulated clandestine graves for comparison to active cases. Simulated “wrapped” and “naked” burials were created. Multigeophysical surveys were collected over a 3‐year monitoring period. Bulk ground resistivity, electrical resistivity imaging, multifrequency ground‐penetrating radar (GPR), and grave and background “soil‐water” conductivity data were collected. Resistivity surveys revealed the naked burial had consistently low‐resistivity anomalies, whereas the wrapped burial had small, varying high‐resistivity anomalies. GPR 110‐ to 900‐MHz frequency surveys showed the wrapped burial could be detected throughout, with the “naked” burial mostly resolved. Two hundred and twenty‐five megahertz frequency GPR data were optimal. “Soil‐water” analyses showed rapidly increasing (year 1), slowly increasing (year 2), and decreasing (year 3) conductivity values. Results suggest resistivity and GPR surveys should be collected if target “wrapping” is unknown, with winter to spring surveys optimal. Resistivity surveys should be collected in clay‐rich soils.     

Constitutional Pluralism Revisited

This essay revisits the theory of constitutional pluralism. This theory was first developed in the EU context as a way of understanding and defending the absence of a broadly agreed source of final authority in the relationship between national and supranational (EU) legal systems and their respective appellate courts in the context of the significant increase in supranational jurisdiction around the time of the Maastricht Treaty 25 years ago. The essay argues that the theory of constitutional pluralism remains relevant today, in particular offering better explanatory and justificatory accounts of the EU than any of the singularist (or monist), holist or federalist alternatives. Its continuing relevance, however, depends on a more explicit focus on the political underpinnings of the legal and judicial dimensions of constitutional pluralism than has typically been the case in the literature, and on more detailed consideration of the preconditions, forms and limits of constitutional initiative in the contemporary phase of unprecedented challenge to the legitimacy of the EU.     

Normativity and Norms

Book reviewed in this article:
Stanley L. Paulson and Bonnie Litschewski Paulson, Normativity and Norms     

Regulating ethics in financial services: Engaging industry to achieve regulatory objectives

This article addresses the issue of renewing a sense of vocation in finance. Drawing on experiences in the UK, Australia, and Ireland, three common law jurisdictions at various phases of developing “an ethical esprit de corps” to professionalize the banking industry, it argues that adopting some aspects of a profession, a “trajectory towards professionalization” of the banking industry, could serve, at least to some extent, to improve the industry-wide norms that influence firms' cultures and individual behaviors. It contends that professionalization could help to develop bankers with a professional, pro-social identity, in which there is a recognition of broader obligations to society, that exists independently of the profit-driven nature of banking and the hierarchy of their own firms. This analysis is informed by an integration of regulatory theory, which casts doubt on the utility of sanctions except as a last resort, behavioral science, which offers insights into how ethics and culture, not just law and markets, can constrain irresponsible behavior in the financial services sector, and criminological theory, which emphasizes that particular types of controls, including individual attachments to groups, build “stakes in conformity” which encourage law abiding and responsible behaviors.     

Modern Families,Modern Family Justice: Supporting Family Relationships in Fast‐Changing Socio‐Political‐Economic Climates (Summary of the Report of the Consultation at St George's House,Windsor, February 12–13, 2018)

This summary relates to the consultation held at St George's House, in Windsor, England, on February 2018. The attendees came from across Europe and from the United States, and they discussed a range of initiatives designed to address the challenges in modern family justice and the changes in the social, political, and economic environments that are impacting family life across the globe. Although the challenges are very similar, the approach to resolving them varies from jurisdiction to jurisdiction. The attendees concluded that there is much we can learn from each other, and that greater cooperation between family justice professionals across geographic boundaries would be highly beneficial.     

Dr. Death? Professionalism,Virtue, and U.S. Physician Participation in the Death Penalty

In the United States at present, the death penalty is a possible sentence in 31 out of 50 states, as well as within the military and for federal cases. In the U.S., numbers of executions are declining, in part due to moratoriums in place and challenges to execution by lethal injection. Participation by physicians in lethal injection executions has been steadfastly viewed by professional medical organizations as contrary to their ethical standards. However, physicians have participated in lethal injection executions, and the morality of the death penalty itself is a matter of intense social and political debate. Medical ethics commentators and professional organizations have typically held that the prohibition on physician participation in the death penalty is independent of the ethical status of the death penalty itself. This article argues that this view is untenable, and that it is tied to a view of professional role virtue that is similarly untenable. At the same time, it argues that, given the morally uncertain status of the death penalty, it is plausible that virtuous physicians may either refuse or choose to participate in some aspects of the death penalty.