Traditional Management Systems, Poverty and Change in the Arid Zone Fisheries of Northern Nigeria

This paper, based on fieldwork results, explores traditional management systems (TMS) in the arid zone fisheries of north-eastern Nigeria with particular reference to their impact on rural poverty. The first section provides a historical background by tracing the evolution of the TMS since the nineteenth century, with reference to government policy on fisheries management and poverty alleviation. The second gives an overview of TMS, including definitions, distribution, principal objectives, regulatory mechanisms and the impact of TMS on the performance of the fisheries and on the livelihoods of rural people. The third considers the perceptions and attitudes of the fishing communities with regards to the fisheries and TMS. The paper concludes, paradoxically, that while TMS provide a basis for the sustainable livelihoods of many fishing people, they also reflect and enforce the social positions of the rich and powerful members of society who oversee them, at the expense of the poor. In the future, poverty alleviation in fisheries will need to incorporate both sectoral and non-sectoral strategies – dealing with the existing 'paradox of TMS' by encouraging appropriate institutional changes and community development, and recognizing the importance of employment creation in other sectors of the economy as a source of alternative income.     

Hard and Disappearing Work: Making Sense of the Leisure Project

Situated at a point of critical intersection between leisure and labour, ancient athletics was in the most essential respects just as complex and ‘modern’ as its contemporary counterpart and can thus benefit from the methods of contemporary sport sociology, which can in turn find in ancient Greece a useful comparandum. As with contemporary sport, athletic pursuits must be situated within the broader economy of leisure in ancient Greece. However, a process of professionalisation gradually developed during the fifth century bce, turning athletics into what was arguably a form of labour. While many continued to derive their pedigree from the elite ‘leisure class’ that almost exclusively dominated the sixth century athletics, a growing number came from less‐distinguished families, their inclusion rendered possible by the construction of public gymnasia, private patronage, cash prizes for victory and other forms of social advancement. Some scholars have pointed to this development as an index of democratisation, but I will argue that it was actually a continuation of elite hegemony by appropriation of the commercial and artisanal classes, parallel to what can be observed in the expansion of athletic participation in the late nineteenth century. Along with expanding the talent pool, the pressure to produce the best athletes for inter‐state competition led to a professionalisation and broadening of athletic training: originally informal and paederastic, it eventually became institutionalised and regulated by the state. Extension of elite privilege to a few successful athletes ultimately served to confirm the Panhellenic prestige and thus also the domestic power of each city’s hegemonic class.     

The effect of ownership and control on market valuation: Evidence from initial public offerings in The Netherlands

This study examines whether ownership and control variables influence market valuation at the time of the initial public offering (IPO). Using a sample of 118 IPOs on Euronext Amsterdam during the period 1984-2001, we find support for this conjecture. Management stock ownership, the proportion of independent supervisory directors, and board monitoring by large nonmanagement hareholders are positively related to IPO firm value. These factors are successful in reducing agency costs. We also find that supermajority management stock ownership and takeover defenses lower IPO firm value. Therefore, these mechanisms increase agency costs, resulting in a lower price that investors are willing to pay for IPO shares.     

Cranial artery dissection

Stroke is a very common cause for mortality and morbidity, especially in the elderly where the cause is usually generalized arteriosclerosis. In persons less than 45 years of age with stroke, there is a group of uncommon illnesses that are often identified. This includes cranial artery dissection, accounting for approximately 20% of these acute neurological events. Cranial artery dissection can involve the carotids or vertebral system, and symptoms can be quite diverse depending on the area of brain ischemia. Anticoagulation is the usual treatment, and overall there is a good long-term prognosis from this entity.