CEOs, POLICIES AND PUBLIC BODIES

Abstract: The literature on statutory authorities has concentrated largely upon matters of structure and administrative arrangements. One significant dimension which has received scant treatment is the idiosyncratic role of chief executive officers in such organisations and their ability to capture both the agency and policy-direction, often in ways immune from government control. This article mainly examines one example from the Northern Territory, the Darwin Trade Development Zone, but evidence is included to support the contention that similar processes occur in other statutory authorities both locally and elsewhere in Australia. It is argued that structural reforms cannot by themselves remedy the gap between expectation and policy-delivery. Avenues for reform are discussed, including the more orthodox accountability linkages, and the conclusions drawn argue for greater attention to be given to the appropriateness of chief executive appointments within a context of more disciplined and coherent policy-direction.     

EXEMPT PROPRIETARY COMPANY ANNUAL REPORTING REQUIREMENTS: PUBUC INTEREST OR BUREAUCRATIC EMPIRE-BUILDING?

Abstract: Australian small business enterprises, operated as exempt proprietary companies, are exposed to numerous statutory requirements. The Corporations Law Simplification Taskforce has proposed a number of changes with the stated objective of minimising the statutory burdens faced by small business. One of the recommendations of the taskforce is that most exempt proprietary companies be exempted from the requirement to supply key financial data in annual returns lodged with the Australian Securities Commission. This paper provides a review of the existing statutory responsibility for exempt proprietary companies to prepare annual returns including key financial data and lodge them with the ASC. A common justification offered for the introduction and continued maintenance of annual reporting requirements has been the protection of the public interest. The “public choice” theory of regulation provides alternative explanations for the regulation, including the promotion of producer interests or the promotion of the interests of the regulatory agency responsible for the administration of the legislation, the Australian Securities Commission, and other government departments such as Attorney-General's, Finance and Treasury. The existence of alternative explanations raises the possibility that the regulation is not motivated exclusively by the public interest. Indirect evidence of the usefulness of the annual reporting requirements was gathered with a consideration of the quality of the key financial data disclosed in annual returns. More than 40% of the annual returns lodged by a sample of exempt proprietary companies, during the years 1986 to 1989, contained key financial data which was inconsistent with being extracted from a properly prepared balance sheet (where assets minus liabilities equal shareholders' equity). The possibility that the maintenance of annual reporting requirements is not in the public interest, and the limited reliability of key financial data disclosures made, offers some support for the recent recommendations of the Corporations Law Simplification Taskforce that annual reporting requirements for small business enterprises be modified.     

SEMATECH and collaborative research: Lessons in the design of high-technology consortia

This article reviews the experience of SEMATECH as a model for high-technology research consortia. SEMATECH's original aims of developing next-generation manufacturing technology proved hard to achieve, and the program has refocused on generic technology and the equipment industry infrastructure. Though more modest, these new objectives have produced significant tangible results. The study considers the reasons for the change and implications for consortium design. This is contrasted with the history of other major collaborative research programs in Japan, Europe, and the United States.     

The fragile politics of addiction

Suppose the optimizing consumer only has local information, then what? Obviously, there will be a random element of consumption. The link between the frequency distribution of consumption by person and preference surface is worked out. Under convex preferences there will be a unimodal distribution and conversely. A local optimizing theory of addictive behavior is developed from nonconvex preferences. The resulting bimodal distribution of consumption implies a nonrobust outcome for median voter politics. Such a local optimizing model of addiction is compared with globally optimizing models of addiction.     

Memory for political actors: Contrasting the use of semantic and evaluative organizational strategies

This paper explores the organizational strategies used to represent information about political actors in memory, and it illustrates the usefulness of a specific measure, the adjusted ratio of clustering score (ARC), for inferring memory structure. Assuming the operation of an associative network model, we argue that information about a political actor can be organized along three distinct dimensions: attribute type (differentiating between issue positions and personal attributes), partisanship (differentiating between characteristics typical of Republicans and Democrats), and evaluative type (differentiating between positively and negatively evaluated attributes). The results of a laboratory study indicate that organization along the attribute type dimension was most common, with some evidence of partisan organization. There was no evidence of organization along the evaluative dimension. The implications of the study for understanding individual differences in political reasoning, and the consequences of memory organization strategies, are discussed.