title: Corporate governance and correlation in corporate defaults

authors: Fernando, Jayasuriya Mahapatabendige Ruwani

abstract: Manuscript Type
Empirical
Research Question/Issue
This study examines the effect of weak corporate governance in terms of concentrated ownership, low board effectiveness, low financial transparency and higher shareholder rights on default correlation when firms have different credit qualities.

Research Findings/Insights
Using historical default data in the United States from 2000 to 2015, we find that the degree of default correlation increases disproportionately for firms with concentrated ownership, low board effectiveness, low financial transparency and disclosures, and higher shareholder rights. More importantly, the effect of weak corporate governance on default correlation is high during a financial crisis.

Theoretical/Academic Implications
This is one of the first studies testing the impact of corporate governance on the correlation in corporate defaults. It indicates new avenues of research for both corporate governance and credit risk management in relation to why joint default probabilities vary among firms.

Practitioner/Policy Implications
Our results imply that good corporate governance is essential for credit risk management because poor corporate governance may increase individual default risk and create the domino effect of credit defaults. Practitioners and policy makers should enhance control over poor governance practices to reduce the probabilities of default. Moreover, the impact of corporate governance on correlation in corporate defaults is more pronounced in financial crises and warrants consideration from policy makers to take steps toward cushioning its effects.

text: Corporate governance and correlation in corporate defaults Manuscript Type
Empirical
Research Question/Issue
This study examines the effect of weak corporate governance in terms of concentrated ownership, low board effectiveness, low financial transparency and higher shareholder rights on default correlation when firms have different credit qualities.

Research Findings/Insights
Using historical default data in the United States from 2000 to 2015, we find that the degree of default correlation increases disproportionately for firms with concentrated ownership, low board effectiveness, low financial transparency and disclosures, and higher shareholder rights. More importantly, the effect of weak corporate governance on default correlation is high during a financial crisis.

Theoretical/Academic Implications
This is one of the first studies testing the impact of corporate governance on the correlation in corporate defaults. It indicates new avenues of research for both corporate governance and credit risk management in relation to why joint default probabilities vary among firms.

Practitioner/Policy Implications
Our results imply that good corporate governance is essential for credit risk management because poor corporate governance may increase individual default risk and create the domino effect of credit defaults. Practitioners and policy makers should enhance control over poor governance practices to reduce the probabilities of default. Moreover, the impact of corporate governance on correlation in corporate defaults is more pronounced in financial crises and warrants consideration from policy makers to take steps toward cushioning its effects.

year: 2019

title: 'I demand an undying devotion to the play': Rosencrantz and Guildenstern are Undead

authors: Martin, Fiona

abstract: Since the first production of Shakespeare's Hamlet at the tum of the seventeenth century, the play has attracted performers, fascinated audiences, and stimulated scholarly discussion and debate - a form of immortality which has been further perpetuated from the twentieth century onward by film versions of the play.¹ The attitudes of literary critics and theater reviewers toward Shakespeare productions, however, remain widely divergent. Ann Thompson and Neil Taylor, for example, observe, "In the last fifty years, the play' s iconic status has led to countless attempts to adapt, rethink, debunk and vandalize it."² The judgment implied by the word "vandalize" suggests the continuing divide between "high" and "popular" cultures, and draws attention to the issues potentially arising when a canonical text is appropriated and newly interpreted.³

text: 'I demand an undying devotion to the play': Rosencrantz and Guildenstern are Undead Since the first production of Shakespeare's Hamlet at the tum of the seventeenth century, the play has attracted performers, fascinated audiences, and stimulated scholarly discussion and debate - a form of immortality which has been further perpetuated from the twentieth century onward by film versions of the play.¹ The attitudes of literary critics and theater reviewers toward Shakespeare productions, however, remain widely divergent. Ann Thompson and Neil Taylor, for example, observe, "In the last fifty years, the play' s iconic status has led to countless attempts to adapt, rethink, debunk and vandalize it."² The judgment implied by the word "vandalize" suggests the continuing divide between "high" and "popular" cultures, and draws attention to the issues potentially arising when a canonical text is appropriated and newly interpreted.³

year: 2011

title: Lessons for teachers through intergenerational Māori experiences in Aotearoa’s education system

authors: Virtue, Katie

abstract: The intention of this research is to serve as professional development for myself and fellow teachers who work with tamariki Māori (Māori children) within mainstream education contexts in Aotearoa. This research explores historical factors that have contributed to the academic disparities of Māori including colonisation, the doctrine of discovery and contention over the differing versions of the Treaty of Waitangi. This research then shifts from holding the coloniser at the centre of the narrative to positioning Māori at the centre as exemplary examples of relentless Māori resistance. More contemporary examples of educational policies are then presented and analysed as an attempt to better understand these contexts.
What is blatantly clear through the exploration of educational policies throughout Aotearoa’s post-colonial history is the absence of Māori voice. For this reason, the findings of this thesis are centred on the voices of four wāhine Māori (Māori Women), across three generations, and their experiences with different teachers through Aotearoa’s education system.  
These stories provide invaluable lessons for all educators in Aotearoa.

text: Lessons for teachers through intergenerational Māori experiences in Aotearoa’s education system The intention of this research is to serve as professional development for myself and fellow teachers who work with tamariki Māori (Māori children) within mainstream education contexts in Aotearoa. This research explores historical factors that have contributed to the academic disparities of Māori including colonisation, the doctrine of discovery and contention over the differing versions of the Treaty of Waitangi. This research then shifts from holding the coloniser at the centre of the narrative to positioning Māori at the centre as exemplary examples of relentless Māori resistance. More contemporary examples of educational policies are then presented and analysed as an attempt to better understand these contexts.
What is blatantly clear through the exploration of educational policies throughout Aotearoa’s post-colonial history is the absence of Māori voice. For this reason, the findings of this thesis are centred on the voices of four wāhine Māori (Māori Women), across three generations, and their experiences with different teachers through Aotearoa’s education system.  
These stories provide invaluable lessons for all educators in Aotearoa.

year: 2021