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The author argues that in difficult times for risk and corporate governance the corporate treasurer is increasingly the most valuable source of information for non‐executive directors. Risk is at the heart of the work of the corporate treasurer. This is particularly true in financial services industries.

The author, chief executive of the Association of Corporate Treasurers, looks ahead at two challenges of 2004 in the continuing arguments over international financial reporting rules on financial instruments, which he believes will create inconsistencies in banking accounts and treasury practices, and in the implementation of the Sarbanes‐Oxley legislation which he believes will create a burden of excessive certification.

Influential reports combined with media attention on directors’ remuneration has sparked academic and practitioner interest in the whole area of corporate governance. Cadbury’s suggestion to strengthen the independent governance role has led to particular interest in non‐executive directors (NEDs). More recently, the role of NEDs in the governance of small and medium‐size enterprises (SMEs) has started to generate attention, and a number of registers of NEDs are established. Indeed, the role of NEDs in SMEs received special attention in the recent Hampel report (1998). Until recently, only two papers directly addressed the role of NEDs in SMEs; both papers were by Mileham and used data obtained from a survey concerned with the role of NEDs carried out with Institute of Management members. This research made a useful contribution, but had a number of limitations. More recently, the increased interest in the role of NEDs in SMEs has sparked further research, but there is still a need for an overall picture of NED and mentor involvement in UK SMEs. The research in this paper addresses this need by presenting the results from a survey sent to 5,279 UK SMEs selected from the Yellow Pages Business Database. The questionnaire was designed to provide a general overview of NED and mentor involvement in SMEs and to allow the following questions to be answered: How many SMEs have NEDs, and are there any firm size patterns? Are there firm age patterns? Are there firm sector patterns? Does firm size influence the formality of NED procedures? What does the managing director believe NEDs add? Are firms with NEDs more successful than those without a NED? Does the profile of the managing director matter? Does a firm’s size influence NED involvement? How do firms acquire NEDs? Why do some SMEs not have NEDs? The paper presents these findings and explores the implications for SMEs and policy advisors.

Since the 1960s, experts have predicted that we are on the verge of curing cancer. The purpose of this paper is to explore the obstacles to progress, and to propose policies that will lead more quickly to more success.

To speed future cures, we need to look at the traits, and methods of those innovative medical entrepreneurs who achieved breakthroughs in the past, and learn what institutions and policies enabled, or blocked, their progress.

Breakthrough innovators tend to be less-credentialed outsiders who “see what others do not see,” often by nimble and persistent pursuit of serendipitous discoveries or slow hunches. For example, Freireich and DeVita were less-credentialed outsiders. Freireich cured childhood leukemia and DeVita cured Hodgkin’s lymphoma, by pursuing nimble trial-and-error experimentation in their anti-cancer chemotherapy cocktails. Min Chiu Li pursued his slow hunch that his patients would benefit from longer chemotherapy than the mandated National Cancer Institute protocol allowed. He was fired, but his patients were cured. Today, FDA-mandated regulatory protocols, often defended as applications of the precautionary principle, greatly restrict innovative medical entrepreneurs, thereby delaying cancer cures and costing lives.

The paper proposes a new approach to medical innovation, allowing cancer researchers to engage in trial-and-error experiments that follow up on serendipitous discoveries and plausible hunches. The result will be more cures and longer lives.

Amidst the backlash against gay rights in the U.S., a rapidly expanding number of companies are instituting inclusive policies. While in 1990 no major corporations provided health insurance for the partners of lesbian and gay employees, by early 2004, over 200 companies on the Fortune 500 list (approximately 40%) had adopted domestic partner benefits. This study of Fortune 1000 corporations reveals that the majority of adopters instituted the policy change only after facing pressure from groups of lesbian, gay, and bisexual employees. Despite such remarkable success, scholars have yet to study the workplace movement, as it is typically called by activists. Combining social movement theory and new institutional approaches to organizational analysis, I provide an “institutional opportunity” framework to explain the rise and trajectory of the movement over the past 25 years. I discuss the patterned emergence and diffusion of gay employee networks among Fortune 1000 companies in relation to shifting opportunities and constraints in four main areas: the wider sociopolitical context, the broader gay and lesbian movement, the media, and the workplace. Next, using the same wide-angle lens, I explain the apparent decline in corporate organizing since 1995. My multimethod approach utilizes surveys of 94 companies with and without gay networks, intensive interviews with 69 networks and 10 corporate executives, 3 case studies, field data, and print and virtual media on gay-related workplace topics. By focusing on not simply political but also broader institutional opportunities, I provide a framework for understanding the emergence and development of movements that target institutions beyond the state.

Strong versions of the Precautionary Principle (PP) require regulators to prohibit or impose technology controls on activities that pose uncertain risks of possibly significant environmental harm. This decision rule is conceptually unsound and would diminish social welfare. Uncertainty as such does not justify regulatory precaution. While they should reject PP, regulators should take appropriate account of societal aversion to risks of large harm and the value of obtaining additional information before allowing environmentally risky activities to proceed.

Since the 1950s, the closet has been the chief metaphor for conceptualizing the experience of sexual minorities. Social change over the last four decades has begun to dismantle some of the social structures that historically policed heteronormativity and forced queer people to manage information about their sexuality in everyday life. Although scholars argue that these changes make it possible for some sexual minorities to live “beyond the closet” (Seidman, 2002), evidence shows the dynamics of the closet persist in organizations. Drawing on a case study of theme park entertainment workers, whose jobs exist at the nexus of structural conditions that research anticipates would end heterosexual domination, I find that what initially appears to be a post-closeted workplace is, in fact, a new iteration: the walk-in closet. More expansive than the corporate or gay-friendly closets, the walk-in closet provides some sexual minorities with a space to disclose their identities, seemingly without cost. Yet the fundamental dynamics of the closet – the subordination of homosexuality to heterosexuality and the continued need for LGB workers to manage information about their sexuality at work – persist through a set of boundaries that contain gayness to organizationally desired places.

LIBRARIANS in charge of small municipal collections are sometimes apt to forget, when enviously regarding some of the larger libraries, that, in many ways, a small library has advantages over its larger rivals, and may even carry out ideas and suggestions which are too laborious to be carried out on a very great scale. As an illustration, I wish to cite the experience of my own library at Bingley, and show how, by working out these suggestions, the membership has been raised from 700 to 1,600, and the annual issues from 24,000 to 54,000 volumes.