title: Path dependence or convergence? The evolution of corporate ownership around the world

authors: Yeh, Andrew Jia-Yuh

subjects: corporate governance

abstract: We offer a theory that sheds light on the current debate over whether the form of corporate ownership converges to the Berle-Means image. Our analytical results are threefold. First, legal rules and firm-specific protective arrangements are complementary. Secondly, corporate ownership patterns can be convergent or path dependent depending on the relative importance of these protective arrangements. We predict, for example, diffuse stock ownership in countries that impose legal limits on blockholders’ power to expropriate minority investor rights. Thirdly, we find that convergence toward diffuse share ownership is a movement towards the social optimum. Our empirical results suggest a case for the co-existence of path dependence and functional convergence (convergence to the diffuse form of share ownership through cross-listings on U.S. stock exchanges that impose more stringent disclosure and listing requirements). These results have implications for the design of executive compensation, the case for institutional investor activism and the proposal to increase shareholder power.

text: Path dependence or convergence? The evolution of corporate ownership around the world We offer a theory that sheds light on the current debate over whether the form of corporate ownership converges to the Berle-Means image. Our analytical results are threefold. First, legal rules and firm-specific protective arrangements are complementary. Secondly, corporate ownership patterns can be convergent or path dependent depending on the relative importance of these protective arrangements. We predict, for example, diffuse stock ownership in countries that impose legal limits on blockholders’ power to expropriate minority investor rights. Thirdly, we find that convergence toward diffuse share ownership is a movement towards the social optimum. Our empirical results suggest a case for the co-existence of path dependence and functional convergence (convergence to the diffuse form of share ownership through cross-listings on U.S. stock exchanges that impose more stringent disclosure and listing requirements). These results have implications for the design of executive compensation, the case for institutional investor activism and the proposal to increase shareholder power.

year: 2006-05

title: Automating vocabulary tests and enriching online courses for language learners

authors: König, Jemma Lynette

subjects: Computer science

abstract: The past decade has seen a massive growth in online academic courses, most of which are offered in the English language. However, although more people speak English as their second language than as their first, online course providers do not offer language assistance. Providing online learners with language resources would allow them to both learn about a subject through a foreign language and learn the foreign language through the subject. This is referred to as “content-based language learning”. 

Supporting content-based language learning using online courses raises several challenges, three of which are addressed in this thesis. First, courses teach subjects in particular domains, but supporting domain-specific language requires knowledge of specialised vocabulary. This thesis develops an automated approach to generating domain-specific corpora and wordlists, extracting domain-specific vocabulary in a way that can be applied to any online course. 

Second, acquiring and measuring language come hand-in-hand. Tools that help learners acquire new language should also include methods for testing. This thesis takes an existing vocabulary test and automates it. This has two main advantages: it requires no assumed knowledge of the language, allowing automatic generation of vocabulary tests; and the tests reflect the wordlists used to create them, allowing them to be targeted toward a particular domain.

Finally, for content-based language learning to be used successfully, the language components must be smoothly integrated into courses without disturbing the original content. Furthermore, vocabulary support should include multi-word lexical items as well as single words. The thesis describes a tool that enhances online course content, via a browser extension. It is completely automated, though would also lend itself to selective teacher intervention. It is illustrated here with reference to courses offered by the FutureLearn MOOC consortium.

text: Automating vocabulary tests and enriching online courses for language learners The past decade has seen a massive growth in online academic courses, most of which are offered in the English language. However, although more people speak English as their second language than as their first, online course providers do not offer language assistance. Providing online learners with language resources would allow them to both learn about a subject through a foreign language and learn the foreign language through the subject. This is referred to as “content-based language learning”. 

Supporting content-based language learning using online courses raises several challenges, three of which are addressed in this thesis. First, courses teach subjects in particular domains, but supporting domain-specific language requires knowledge of specialised vocabulary. This thesis develops an automated approach to generating domain-specific corpora and wordlists, extracting domain-specific vocabulary in a way that can be applied to any online course. 

Second, acquiring and measuring language come hand-in-hand. Tools that help learners acquire new language should also include methods for testing. This thesis takes an existing vocabulary test and automates it. This has two main advantages: it requires no assumed knowledge of the language, allowing automatic generation of vocabulary tests; and the tests reflect the wordlists used to create them, allowing them to be targeted toward a particular domain.

Finally, for content-based language learning to be used successfully, the language components must be smoothly integrated into courses without disturbing the original content. Furthermore, vocabulary support should include multi-word lexical items as well as single words. The thesis describes a tool that enhances online course content, via a browser extension. It is completely automated, though would also lend itself to selective teacher intervention. It is illustrated here with reference to courses offered by the FutureLearn MOOC consortium.

year: 2019

title: Introduction to special section on Māori culture and education.

authors: Bishop, Russell

subjects: language policy

abstract: An introduction is presented in which the editor discusses various reports within the issue on topics including the need for coordinated language policy, the Treaty of Waitangi, and monoculturalism.

text: Introduction to special section on Māori culture and education. An introduction is presented in which the editor discusses various reports within the issue on topics including the need for coordinated language policy, the Treaty of Waitangi, and monoculturalism.

year: 2002