Corporate Governance in Spain (with an Application of the Power Indices Approach)

This paper describes the governance system of Spanish listed firms in the early 1990's. Although the institutional setting of the Spanish Stock Exchanges differs little from other European national markets, we found important differences in several aspects of corporate governance. In particular, some of the standard mechanisms of control (e.g. boards and institutional shareholders) do not play an active role, whereas ownership is relatively concentrated. Moreover, power indices suggest that controlling blocs of large shareholders are very likely to form. We thus conclude that the ownership of shares is a pivotal mechanism in the governance of Spanish corporations.     

Some Men Named William Hunter

The Hunter family of Rhode Island produced two important American diplomatists of the nineteenth century. The elder William Hunter served for nine years as the American envoy to Brazil, where he exerted positive influence over the young emperor, Dom Pedro II. The younger William Hunter entered the Department of State in 1829 and spent fifty-seven years there under twenty-one Secretaries of State. For decades the department's third-ranking officer, he became its “mentor and authority.” The overlapping careers of Hunter and his two successors helped guide American diplomacy until 1937.     

From the right to development to the rights-based approach: how ‘human rights’ entered development

This article offers an intellectual genealogy of how the concept of human rights has entered the development discourse—from the formulation of a ‘right to development’ to the rhetorical incorporation of rights within prevailing discourse, to the articulation of a ‘rights-based approach’ to development. It concludes with some propositions about the important role that a focus on rights might play in the practice of international development.     

Who Do You Trust? Ethnicity and Trust in Bosnia and Herzegovina

This article examines the question of trust in Bosnia and Herzegovina with a special focus on the role of ethnicity. We find generalised trust to be low and declining in Bosnia and Herzegovina. Moreover, generalised trust is negatively affected by the degree of ethnic heterogeneity in the region. However, a further examination of trust reveals a more complex relationship between ethnicity and trust: people tend to show low levels of trust in all other people irrespective of their ethnic belongings. We argue that ethnic distribution might capture some other regional specific characteristics that also affect the level of trust.