Recent developments in German corporate governance

This paper provides an overview of the German corporate governance system. We review the governance role of large shareholders, creditors, the product market and the supervisory board. We also discuss the importance of mergers and acquisitions, the market in block trades, and the lack of a hostile takeover market. Given that Germany is often referred to as a bank-based economy, we pay particular attention to the role of the universal banks (Hausbanken). We show that the German system is characterised by a market for partial corporate control, large shareholders and bank/creditor monitoring, a two-tier (management and supervisory) board with co-determination between shareholders and employees on the supervisory board, a disciplinary product–market, and corporate governance regulation largely based on EU directives but with deep roots in the German codes and legal doctrine. Another important feature of the German system is its corporate governance efficiency criterion which is focused on the maximisation of stakeholder value rather than shareholder value. However, the German corporate governance system has experienced many important changes over the last decade. First, the relationship between ownership or control concentration and profitability has changed over time. Second, the pay-for-performance relation is influenced by large shareholder control: in firms with controlling blockholders and when a universal bank is simultaneously an equity- and debtholder, the pay-for-performance relation is lower than in widely held firms or blockholder-controlled firms. Third, since 1995 several major regulatory initiatives (including voluntary codes) have increased transparency and accountability.     

Using GIS to evaluate post-release prisoner services in Newark, New Jersey

Discharge planning is increasingly prioritized by correctional systems in order to prepare prisoners for their reintegration into society. A goal of discharge planning is to link prisoners with appropriate service providers in the community to meet their needs. A successful discharge plan requires that an optimal level of services exist and work in a coordinated and collaborative way in order to ensure a continuum of care and treatment during the reentry process (Queralt & Witte, 1999). This study utilized Geographic Information System (GIS) to assess the size, demographic characteristics, and needs of the Newark, New Jersey parolee population with the availability, location, and characteristics of health and human service agencies servicing their needs. A random sample of parolees (N = 800) released in 2006 was selected for this study. Social service agency data were obtained from an on-line service agency data base. Results of the analysis include the degree of spatial distribution, accessibility, and availability of services to where the parolees live and the degree of spatial overlap of specific services in an area.     

THE VALUE OF THE REMUNERATION OF HIGH CIVIL SERVANTS IN BRITAIN IN THE 20TH CENTURY AND ITS IMPLICATIONS

The article traces a large real and comparative decline in the rewards of high civil servants in Great Britain over the 20th century, accelerating since about 1970. It relates this to developments in the market for ‘high quality’ graduates and to changes in public and governmental attitudes which have affected the size, organization and role of the civil service. It discusses possible causes of the decline in top rewards in terms of three explanatory approaches suggested by social scientists – the ‘institutional’, the ‘cultural’, and the views of the ‘Chicago School’. Finally, following an examination of changes in the way senior British civil servants are now recruited and remunerated, it considers possible outcomes in terms of effects on the part they can play in the governmental process.     

Interrogation of short tandem repeats using fluorescent probes and melting curve analysis: A step towards rapid DNA identity screening

Current forensic DNA profiling methods rely on the analysis of samples at specialised laboratories with an average turnaround time of several days. The ability to rapidly determine a partial profile of short tandem repeats at the point-of-arrest would be of great benefit to police forces around the world, for example enabling a suspect to be rapidly included or excluded from an investigation. We have developed a homogeneous PCR method for the interrogation of STR loci utilising fluorescent oligonucleotide probes and melting curve analysis. Alleles of the D18S51, TH01 and D8S1179 loci were differentiated and identified on the basis of target length and probe melting temperature. Assay performance was evaluated by comparing melting peak data with the AmpFlSTR^® SGM Plus^® system. The method is compatible with direct analysis of unpurified buccal swab samples, enabling a partial STR profile to be generated within 1 h.