Life Sciences Roundtable:  Strategy and Financing
Judy Lewent, Joe Fuller, David Scharfstein, Rick Passov, Charles Simmons, Cathrin Petty, Pete Crnkovich, and Carolyn Buck Luce.  Moderated by Jeff Greene.

In the light of the challenges facing the pharmaceutical industry, a group of experts discuss a number of critical issues: value-maximizing business models, capital allocation and financing innovation, and governance and incentive systems.

The Elusive Underpinnings of U.S. Venturesomeness (if Not Prosperity)
Amar Bhidé

This article asks what accounts for the increase in the innovative capabilities or effectiveness of U.S. workers and businesses, both over time and relative to that of their global counterparts. The author focuses on six "institutional" factors.

Specific Knowledge and Divisional Performance Measurement
Michael Jensen and William Meckling

This article discusses five common divisional performance measurement methods-cost, revenue, profit, investment and expense centers-while outlining a theory that attempts to explain when each of these five methods is likely to be the most efficient. 

Using Organizational Architecture to Lead Change
James Brickley, Clifford Smith and Jerold Zimmerman, with Janice Willett

The authors argue that corporate "organizational architecture"-the allocation of decision-making authority, performance measurement systems, and reward systems-is critical for employees to carry out the vision for the company laid out by management.

Driving Performance through Corporate Culture: Interviews with Four Experts
Robert Gandossy, Rajeev Peshawaria, Leslie Perlow, and Fons Trompenaars.  With Daisy Wademan Dowling

Four organizational behavior experts are interviewed, presenting complementary views on why and how senior executives should play a significant role in managing the cultures within their organizations so employees will perform "when no one is looking."   

EVA Momentum: The One Ratio That Tells the Whole Story
Bennett Stewart 

The author argues that standard financial ratios can give a misleading picture about a company's operations. He proposes a new measure called "EVA Momentum" that cannot be increased without truly creating value.  

Why Capital Efficiency Measures Are Rarely Used in Incentive Plans, and How to Change That
Stephen O'Byrne and David Young

Few companies use capital efficiency measures as the main basis for their management incentive programs. The authors document the limited use of such measures, analyze the reasons why, and suggest adjustments to plans that address these problems.

The Hybrid Option:  A New Approach to Equity Compensation
Marc Hodak

Equity compensation instruments like restricted stock and stock options have well-understood limitations. The author proposes the use of hybrid options that are both in-the-money and indexed to industry- and market-wide variables as an alternative.

The Economics of Wind Energy
John Martin and Doug Ramsay

Based on an interview with Boone Pickens and published sources, the authors conclude that wind power can be an abundant and clean source of energy and is economically viable in parts of the U.S., but will require policies to overcome cost hurdles.

Shareholder Value Maximization-Is There a Role for Corporate Social Responsibility?
John Martin, William Petty, and James Wallace

Corporate social responsibility can add value by helping companies develop and maintain their reputation with important noninvestor stakeholder groups. But each dollar of investment should be justified by at least a dollar of expected return.