Thesis ( Ph.D. ) -- University of Texas at Arlington, 2008.

Zugl.: Regensburg, Univ., Diss., 2009

Zugl.: Saarbrücken, Univ., Diss., 2008

Today, aviation security is at the forefront of public consciousness particularly when they think of their own personal safety. The dramatic and catastrophic attacks of 911, utilizing civil aviation resources has made the world view aviation security with a critical eye. It could be argued that the response by States and individual airports and airlines has been positive and rapid, however the effectiveness has been marginal. Many factors have been proffered as the reason, from ineffective conservative governments, out-dated equipment, old infrastructure to a traditional mind-set that does not always accept change. Due to the limited scope of this research paper, the author has chosen to concentrate on Corporate Governance and three associated principles, “ethics”, “accountability” and “oversight” to assess the effectiveness of aviation security. This theme was chosen because, in the 1990s the Hong Kong Government considered Corporate Governance was a key ingredients needed for a positive paradigm shift in the way aviation security was implemented at the Hong Kong International Airport (HKIA). Government and the public felt, that the management of the old “Kai Tak” airport in Kowloon prior to 1998 did not adequately consider Corporate Governance as a key ingredient to successful security resulting in long-standing misgivings about the airport’s ability to meet security requirements. Fortuitously for this research paper, HKIA was relocated from Kowloon to Lantau Island in 1998 and a new Government owned company Aviation Security Company Limited (AVSECO) was set up at that time to provide the security. The Government and the Board of Directors of AVSECO were able to learn from the weaknesses of the old airport and from the outset understood the need for a change in the way the security was provided at the airport. So spurred on by the imminent airport relocation and the establishment of a AVSECO at the new airport, the Government considered it was an ideal time to change the security philosophy and make the new company accountable through good corporate governance. With this background, the aim of this research paper is to review the standards and recommended practices set by the International Civil Aviation Organization (ICAO), which is a Specialized agency of the UN having the aim of safeguarding civil aviation against actual and threats of ‘unlawful interference to civil aviation’. To do this, there is a literature review and observations from within the aviation industry. This review found that the security measures implemented to enforce the standards and therefore counter the real and emerging threats has been poor throughout the world. The question the industry therefore needs to ask is “If all the experts of the world have joined together (through ICAO) to set the standards to mitigate the risk, why does the public still feel the measures are unrealistic or ineffective in most airports?” Also, “Why, when we know in theory what to do, is it that many airports still fail to stop the threats? “In order to solve this puzzle, the paper critically looks at the international standards and their global implementation. Then, utilizing HKIA as a case study, the paper discusses if good corporate governance is a key to the successful implementation of effective aviation security. The literature review and analysis of security data collected over the past 6 years at HKIA suggests that good Corporate Governance is in fact a key ingredient for effective security at airports. The limitations of this paper, only allows for the study of three principles of good corporate governance, namely ‘Oversight’, ‘Ethics’ and ‘Accountability’. It goes without saying that there are many other factors that can influence the success or otherwise of the implementation of effective aviation security – for example organizational culture, equipment employed, staff training, quality control, policies and procedures, to name just a few. The paper only discusses these other variables when they directly relate to the three chosen corporate governance principles at HKIA. To sum up, despite the effective promulgation of international standards, the related effectiveness of the implementation has varied greatly from airport to airport. Many variables, either independently or collectively can be the cause of failure. This paper concentrated only on how the introduction of corporate governance (particularly the three key principles) improved the way HKIA conducted business in relation to Aviation Security forever. The change to good corporate governance did not occur over night and has taken almost 15 years for effective management oversight, company ethics and accountability to become enshrined into the company philosophy. The data reviewed from HKIA, however, does suggest that the transformation has been dramatic and effective, showing that, when emphasized and enshrined into corporate culture, good Corporate Governance will increase the likelihood of success in the on-going fight against unlawful interference against civil aviation. / published_or_final_version / Politics and Public Administration / Master / Master of Public Administration

This thesis consists of two essays on the impacts product market competition has on the real investment efficiency of firms. While the first essay looks at this question through the corporate governance angle and finds product market competition complements institutional investors in disciplining firms, the latter one studies the impacts from an information production point of view and concludes competition reduces the incentive of firms to acquire information thereby reduces investment efficiency. Using product market competition as a proxy for external corporate governance, the first essay documents a sizeable difference between the governance impact of institutional investors on firms with strong and weak external corporate governance. Higher institutional ownership is associated with real efficiency of firms, but only when external corporate governance is strong. The real efficiency is reflected in higher investment sensitivity to investment opportunities and higher firm value. Utilizing the passing of business combination laws as a negative shock to external corporate governance, the essay identifies that firms with higher institutional ownership suffer a larger decrease in real efficiency, suggesting external corporate governance such as product market competition is critical for institutional investors in disciplining firms. The second essay attempts to figure out the impact of product market competition from an ex ante point of view. Specifically, how does product market competition change the incentive of firms to acquire information about investment opportunities ex ante? The essay provides both a model and a series of extensive empirical tests. The model features a two-stage Bayesian game in differentiated products market competition. This essay finds that competition causes firms to acquire less information and that investment becomes more inefficient in competitive industries. Empirically investment efficiency is measured by a latent variable technique and related to competition using a Herfindahl-Hirschman index as well as more exogenous measure such as trade costs. The panel regression analysis provides strong support for the theory and shows that investment is more efficient in concentrated industries. / published_or_final_version / Economics and Finance / Doctoral / Doctor of Philosophy

Empirical and textual analyses of development issues seem to suggest that the fundamental flaw in the early initiatives1 of Africa’s leadership to address the socio-economic problems of the continent was embedded in neo-liberal inspired economic reductionist approach to development. This approach is premised on the ‘econo-mythical invocation that if the economics are right everything else would fall into place’ (Cernea 1994:07). An economic reductionist approach to Africa’s development is inadequate. Cultural, sociological, psychological, political and administrative factors are also important dimensions of development that merit substantial consideration in the quest for the solution of the socio-economic problems besetting the African continent. For development to be sustainable a multi-disciplinary approach is required. In this article the political administrative dimension of development with specific reference to good governance in the New Partnership for Africa’s Development (NEPAD) is, from a conceptual perspective, examined.

The study has intended to analyze the Europeanization of the institutional structure for regional policy in Bulgaria after the first programming period of the country as a full-fledged member state of the EU. Bulgaria joined the EU in 2007 as part of the so called ‘Eastern Enlargement’ that was characterized by power asymmetry and strong conditionality. The study employs two research methods – document analysis of key policy documents and legislation, as well as qualitative interviews with key respondents with involvement or experience in the field of regional policy and development in Bulgaria. The analysis is underpinned by the concept of Europeanization and historical institutionalism which complement each other in order to explain the changes and the reasons for them. The main findings show that the EU requirements are only ‘accommodated’ in the already existing institutional structure of Bulgaria and real transformation has not occurred. The established regional level still does not have a significant role in the regional policy of the country because it represents neither self-government, nor administrative unit. The research suggests directions for future reform and refinement of the current institutional system with regard to the better formulation and implementation of regional policy in the country.

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This thesis presents an historical analysis of the role of financial accounting in the emerging conceptions of corporate governance during the Progressive era in the United States. Specifically, this thesis advances an approach to the governance and control of corporations in terms of historically-situated subjects who are acted upon by various forms of power leading them to assume specific roles in relation to corporations and their governance. The focus of this study is a broad archival analysis of the emergence of the large industrial corporation during the late nineteenth and into the beginning of the twentieth century. In particular, in this thesis I analyze the importance of financial accounting and reporting discourses, as forms of expertise, to the historical emergence of the corporation’s external relationships with broader government bodies and authorities and a broad range of individuals within the public domain. I employ a Foucauldian theoretical and methodological lens to highlight the importance of disclosure and reporting at the macro level of a public economic discourse regarding the corporation. This discourse illustrates how governance focused less on prohibitory laws regarding corporate actions and more on normalizing forms of power in terms measuring and disclosure. I also analyze at the micro level the role of accounting expertise and how it leads to the understanding within the public domain of corporations as norms of business organization. Specifically, accounting expertise provides a means by which the corporation is seen as not only controllable, but also productive and utility maximizing. Taken together, this analysis highlights how financial accounting and reporting comprise forms of normalizing power which shape and define individuals as various types of corporate subjects, such as investors. / Thesis (Ph.D, Management) -- Queen's University, 2011-04-29 15:47:15.015

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