By examining the level of ownership concentration across firms, we determine how principal-principal conflict, defined as the incongruence of ownership goals among shareholder groups in a corporation, impacts agency costs of Chinese boards of directors. Based on data from Chinese companies listed on the Shanghai and Shenzhen stock exchanges during 1999-2003, we found that ownership concentration had a U-shaped relationship with board compensation, board size and the presence of independent directors. These results provide corroborating evidence that principal-principal conflict can lead to high agency costs.

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It has been documented that sex hormone may play a role in the pathogenesis of murine lupus. To determine the effect of tamoxifen (TAM) on NZB/W F1 female mice, a total dose of 800 mg (22 mg/kg body weight) of TAM was administered subcutaneously every 2 weeks. The control mice were injected with peanut oil only. After treatment with TAM for 5 months, the mice were killed and immunological parameters were evaluated. The results suggest that NZB/W F1 mice treated with TAM had less severe proteinuria and increased survival rate compared to controls. Flow cytometric analysis of splenocytes revealed a signi®cantly lower percentage of B cells and CD5 B cells in the TAM-treated group. There was a signi®cantly lower serum level of soluble tumour necrosis factor (TNF) receptor I and II molecules in the TAM-treated mice. Immunohistological study showed that control mice had severe immune complex deposition in the kidney. In contrast, TAM-treated mice had much less pathological change. In summary, this study demonstrated that TAM treatment might be able to alleviate the symptoms of lupus nephritis, in¯uence B-cell count, modulate the expression of cytokine receptors and thereby subsequently affect immune function. Further studies to determine the cellular mechanisms in lupus nephritis may increase our understanding of this complex disease and provide additional targets for therapeutic intervention.

The purpose of this study is to take stock of the extant research on occupational health and safety (OHS) with the aim of identifying gaps and mapping out a future research agenda for human resource management (HRM) scholars. A comprehensive review of OHS research from 1956 to 2019 was first conducted. A total of 564 articles from 17 leading journals were then identified and categorized into five distinct, yet inter-related, themes: (1) antecedents and workrelated factors influencing OHS; (2) industrial policy and regulations surrounding OHS; (3) OHS management practices; (4) approaches to, and models of, managing OHS and (5) outcomes of OHS management. The review also discusses OHS research methodologies and design foci. Overall, we found that OHS research is poorly integrated into the field of HRM, and we identify a plethora of opportunities for HR researchers to add value to this field of research. A future agenda is formulated, encompassing new OHS theory-building, novel directions for empirical research, and innovations in research design and methodology.

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