The impact of hybridity on PPP governance and related accountability mechanisms: the case of UK education PPPs

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Anne Stafford ◽  
Pamela Stapleton
Keyword(s):  
Local Governments ◽  
Governance Structure ◽  
Hybrid Structures ◽  
Institutional Complexity ◽  
Content Type ◽  
Significant Differentiation ◽  
Use Of Resources ◽  
Public Money ◽  
The Impact ◽  
Different Levels

PurposeContemporary organisational landscapes offer opportunities for hybrids to thrive. Public–private partnerships (PPPs) are one thriving hybrid form incorporating the use of resources and/or structures from both public and private sectors. The study examines the impact of such a hybrid structure on governance and accountability mechanisms in a context of institutional complexity.Design/methodology/approachThis study uses an approach that draws on institutional logics and hybridity to examine governance arrangements in the PPP policy created for the delivery of UK schools. Unusually, it employs a comparative case study of how four local governments implemented the policy. It draws on a framework developed by Polzer et al. (2017) to examine the level of engagement between multiple logics and hybrid structures and applies this to the delivery of governance and accountability for public money.FindingsThe Polzer et al. framework enables a study of how the nature of hybrids can vary in terms of their governance, ownership and control relations. The findings show how the relationships between levels of engagement of multiple logics and hybrid structures can impact on governance and accountability for public money. Layering and blending combinations led to increased adoption of private sector accountability structures, whilst a hybrid with parallel co-existence of community and market logics delivered a long-term governance structure.Research limitations/implicationsThe paper examines the operation of hybrids in a complex education PPP environment in only four local governments and therefore cannot provide representative answers across the population as a whole. However, given the considerable variation found across the four examples, the paper shows there can be significant differentiation in how multiple logics engage at different levels and in varying combinations even in the same hybrid setting. The paper focuses on capital investment implementation and its evaluation, so it is a limitation that the operational stage of PPP projects is not studied.Practical implicationsThe findings have political relevance because the two local government bodies with more robust combinations of multiple logics were more successful in getting funds and delivering schools in their geographical areas.Originality/valueThe study extends Polzer et al.'s (2017) research on hybridity by showing that there can be significant differentiation in how multiple logics engage at different levels and in varying combinations even in what was planned to be the same hybrid setting. It shows how in situations of institutional complexity certain combinations of logics lead to differentiation in governance and accountability, creating fragmented focus on the related public accountability structures. This matters because it becomes harder to hold government to account for public spending.

Is internal and external mechanism of governance enriching the performance of the banking sector of Pakistan?

2017 ◽  
Vol 17 (4) ◽  
pp. 629-642 ◽  
Author(s):  
Sundas Sohail ◽  
Farhat Rasul ◽  
Ummara Fatima
Keyword(s):  
Corporate Governance ◽  
Banking Sector ◽  
Good Governance ◽  
Random Effect ◽  
Random Effect Model ◽  
General Meeting ◽  
Governance Structure ◽  
Board Structure ◽  
Content Type ◽  
The Impact

Purpose The purpose of this study is to explore how governance mechanisms (internal and external) enhance the performance of the return on asset (ROA), return on equity (ROE), earning per share (EPS) and dividend payout ratios (DP) of the banks of Pakistan. The study incorporates not only the internal factors of governance (board size, out-ratio, annual general meeting, managerial ownership, institutional ownership, block holder stock ownership and financial transparency) but also the external factors (legal infrastructure and protection of minority shareholders, and the market for corporate control). Design/methodology/approach The sample size of the study consists of 30 banks (public, private and specialized) listed at the Pakistan Stock Exchange (PSE) for the period 2008-2014. The panel data techniques (fixed or random effect model) have been used for the empirical analysis after verification by Hausman (1978) test. Findings The results revealed that not only do the internal mechanisms of governance enhance the performance of the banking sector of Pakistan but external governance also plays a substantial role in enriching the performance. The findings conclude that for a good governance structure, both internal and external mechanisms are equally important, to accelerate the performance of the banking sector. Research limitations/implications Internal and external mechanisms of corporate governance can also be checked by adding some more variables (ownership i.e. foreign, female and family as internal and auditor as external), but they are not added in this work due to data unavailability. Practical implications The study contributes to the literature and could be useful for the policy makers who need to force banks to mandate codes of governance through which they can create an efficient board structure and augment the performance. The investments from different forms of ownership can be accelerated if they follow the codes properly. Social implications The study facilitates the bankers in incorporating sound codes of corporate governance to enhance the performance of the banks. Originality/value This work is unique as no one has explored the impact of external mechanism of governance on the performance of the banking sector of Pakistan.

scholarly journals Servitization strategies from customers’ perspective: the moderating role of co-creation

2019 ◽  
Vol 34 (3) ◽  
pp. 628-642 ◽  
Author(s):  
José L. Ruiz-Alba ◽  
Anabela Soares ◽  
Miguel A. Rodríguez-Molina ◽  
Dolores M. Frías-Jamilena
Keyword(s):  
Structural Equation ◽  
Business Models ◽  
Service Providers ◽  
Moderating Effect ◽  
Mediating Effect ◽  
Content Type ◽  
The Impact ◽  
Moderating Role ◽  
Different Levels

Purpose This paper aims to investigate the moderating role of co-creation in the implementation of servitization strategies in the pharmaceutical industry in a business-to-business (B-to-B) context. More specifically, this investigation explores the impact of different levels of services (base, intermediate and advanced) on servitization and on performance by using co-creation as a moderating factor. Design/methodology/approach A research framework was developed and empirically tested in the pharmaceutical sector. Data collection was conducted through the online distribution of questionnaires. The final sample included 219 pharmacy stores, and the data were analysed using structural equation modelling. Findings Main findings suggest that when the level of co-creation of the design of services is high, there are significant effects of servitization on firm performance. The moderating effect of co-creation is illustrated in regard to intermediate and advanced services, but results referring to the impact of intermediate services on servitization appear non-significant with a low degree of co-creation. No significant effects could be found for the impact of base services on performance and servitization for both high and low degrees of co-creation. Findings show an impact of advanced services on performance through the mediating effect of servitization when the degree of co-creation is high. Originality/value Most research concerning servitization has been done from the perspective of manufacturers and service providers. This study adds value to the literature because it was designed from a customer’s perspective. Moreover, it contributes towards the conceptualization of the servitization research strategy and business models in a B2B context. This is accomplished through the investigation of the moderating effect of co-creation on the impact of the different levels of services on servitization and on performance.

scholarly journals Women on corporate boards and allocation of capital raised through IPOs

2019 ◽  
Vol 57 (3) ◽  
pp. 547-568 ◽  
Author(s):  
Bazeet Olayemi Badru ◽  
Nurwati A. Ahmad-Zaluki ◽  
Wan Nordin Wan-Hussin
Keyword(s):  
Decision Making ◽  
Governance Structure ◽  
Capital Allocation ◽  
Strategic Decision ◽  
Corporate Boards ◽  
Content Type ◽  
Investment Opportunities ◽  
Women On Corporate Boards ◽  
The Impact ◽  
A Company

Purpose The purpose of this paper is to examine whether the differences in men and women, such as risk aversion in decision making, can influence the amount of capital that the board of directors can allocate for investment opportunities. Design/methodology/approach This study sampled 212 IPOs over the period of 2005–2015 and employed the OLS and the quantile regression techniques to examine the impact of female directors on capital allocation. Findings The results show that women on corporate boards have a positive influence on the amount of capital an IPO company can allocate for investment opportunities. These findings suggest that the investment strategies of women in an emerging financial market, like Malaysia, may differ from women in other financial markets. Practical implications The presence of women on corporate boards plays an important role in board involvement in a company’s strategic decision at the time of the IPO. Therefore, regulators and IPO issuers should pay close attention to the corporate governance structure of a company at the time of an IPO. In addition, investors and other stakeholders of a company may consider women on corporate boards as an important factor in financing and investment decisions. Originality/value Despite several studies that have examined the influence of women on corporate boards on corporate outcomes, globally, the presence of women on corporate boards and their influence on corporate decision-making related to allocation of capital to investment opportunities, have not been fully explored in the IPO literature.

The role of national culture in the impact of board gender diversity on firm performance: evidence from a multi-country study

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Navaz Naghavi ◽  
Saeed Pahlevan Sharif ◽  
Hafezali Bin Iqbal Hussain
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Generalized Method Of Moments ◽  
Gender Diversity ◽  
Governance Structure ◽  
Corporate Governance Structure ◽  
Data Set ◽  
Content Type ◽  
Board Gender Diversity ◽  
The Impact

PurposeThis study seeks to add more insights to the debate on “whether”, “how”, and “under which condition” women representation on the board contributes to firm performance. More specifically, the current study aims to investigate if the effect of board gender diversity on firm performance is dependent on macro factors of national cultures.Design/methodology/approachThe authors used the generalized method of moments regression and a data set consists of 2,550 company year observations over 10 years.FindingsThe results indicated that cultural variables interact with board diversity to influence firm performance. Having women on the board in countries with high power distance, individualist, masculine and low-uncertainty avoidance culture influences the firm performance negatively.Originality/valueThe findings indicate that the effects of corporate governance structure on firm performance depends on culture-specific factors, providing support for the argument that institutional norms that are governed by cultural norms affect the effectiveness of corporate governance structure.

University students involved in a sustainable world: assessing sustainable consumption in Spain

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Clara Margaça ◽  
Brizeida Hernández Sánchez ◽  
José Carlos Sánchez-García
Keyword(s):  
University Students ◽  
Sustainable Consumption ◽  
Academic Community ◽  
Validity And Reliability ◽  
Content Type ◽  
Agenda 2030 ◽  
Original Proposal ◽  
Use Of Resources ◽  
Responsible Consumption ◽  
The Impact

Purpose To achieve sustainable development to protect the environment and society, an increasing number of scholars have conducted in-depth research on sustainable and responsible consumption behaviors. The outputs demonstrate that consumers are increasingly concerned and aware of the issues associated with the excessive use of resources. The purpose of this paper is to analyze the validity and reliability of the Sustainable Consumption Scale (SC-S) in the Spanish context. Design/methodology/approach The adaptation of SC-S to Spanish was carried out in accordance with international methodological standards. The Spanish version of this scale was applied empirically to the research sample was composed of 962 university students (49.1% male and 50.9% female) from 54 Universities in 15 regions of Spain that participated in the study. Findings The analyses carried out to verify the psychometric properties retained 16 items from the original proposal, grouped equally in three factors: Cognitive – six items; Affective – seven items; and Conative – four items. The scale presented adequate adjustment indexes, as well as optimal values of the different measures of reliability, recommended by the literature. Originality/value This instrument can be used by the Spanish academic community, which will contribute to the assessment and prediction regarding a sustainable consumption attitude. From these screenings, it will be also possible to understand the impact and development of the objectives outlined by Agenda 2030.

Relation between internet financial information disclosure and internal control in Spanish local governments

2019 ◽  
Vol 71 (2) ◽  
pp. 176-194 ◽  
Author(s):  
María del Rocío Moreno-Enguix ◽  
Ester Gras-Gil ◽  
Joaquín Henández-Fernández
Keyword(s):  
Internal Control ◽  
Local Governments ◽  
Information Disclosure ◽  
Financial Information ◽  
Public Governance ◽  
Content Type ◽  
Financial Variables ◽  
New Public ◽  
Provision Of Services ◽  
The Impact

Purpose The application of new public governance by many countries has led to the creation of new management systems in public administration and the development of an effective accounting structure with efficient internal control to guarantee a proper provision of services that meet citizens’ requirements. The purpose of this paper is to focus on Spanish local government with the intention of determining the impact of the internal control structure on the disclosure of financial information on the internet. Design/methodology/approach The empirical analysis used combines a descriptive aspect with an explanatory one and seeks to answer the question of whether the internal control system (ICS) influences the disclosure of financial information on the websites of Spanish LGs. The authors use a multivariate model that allows us to verify the predictive capability of the previously defined explanatory variable, internal control, in 1,806 local governments. To test the hypotheses, the authors use two different models. Findings The authors consider the existence and quality of the financial information disclosure in relation to ICSs, and a series of financial and non-financial variables. The authors conclude that the structure of the ICS influences financial information disclosure and its quality. Also, the socio-political variable gives a better explanation of financial information disclosure than the financial variable. Originality/value This research is novel to determine whether the development of ICSs in Spanish municipalities has favored and increased the disclosure of financial information financial through the municipalities’ website transparency portal. These findings will contribute to increase the importance of internal control in the management of public entities.

scholarly journals Unclogging the pipeline: advancement to full professor in academic STEM

2019 ◽  
Vol 38 (2) ◽  
pp. 246-264 ◽  
Author(s):  
Helga Van Miegroet ◽  
Christy Glass ◽  
Ronda Roberts Callister ◽  
Kimberly Sullivan
Keyword(s):  
Governance Structure ◽  
Gender Disparities ◽  
Faculty Members ◽  
Full Professor ◽  
Content Type ◽  
Career Attainment ◽  
Career Trajectories ◽  
Promotion Process ◽  
The Impact

Purpose Women remain underrepresented in academic STEM, especially at the highest ranks. While much attention has focused on early-career attrition, mid-career advancement is still largely understudied and undocumented. The purpose of this paper is to analyze gender differences in advancement to full professor within academic STEM at a mid-size public doctoral university in the western USA, before and after the National Science Foundation (NSF)-ADVANCE Program (2003–2008). Design/methodology/approach Using faculty demographics and promotion data between 2008 and 2014, combined with faculty responses to two waves of a climate survey, the magnitude and longevity of the impact of ADVANCE on mid-career faculty advancement across gender is evaluated. Findings This study documents increased representation of women in all ranks within the STEM colleges, including that of full professor due to ADVANCE efforts. It also demonstrates the role of greater gender awareness and formalization of procedures in reducing the variability in the time as associate professor until promotion to full professor for all faculty members, while also shrinking gender disparities in career attainment. As a result of the codification of the post-tenure review timeline toward promotion, more recently hired faculty are promoted more swiftly and consistently, irrespective of gender. Post-ADVANCE, both male and female faculty members express a greater understanding of and confidence in the promotion process and no longer see it as either a hurdle or source of gender inequality in upward career mobility. Research limitations/implications While data were collected at a single university, demographics and career experiences by women mirror those at other research universities. This study shows that within a given institution-specific governance structure, long-lasting effects on faculty career trajectories can be achieved, by focusing efforts on creating greater transparency in expectations and necessary steps toward promotion, by reducing barriers to information flown, by standardizing and codifying the promotion process, and by actively engaging administrators as collaborators and change agents in the transformation process. Originality/value This study addresses mid-career dynamics and potential mechanisms that explain gender gaps in the promotion to full professor, a largely understudied aspect of gender disparities in career attainment within STEM. It shows how institutional policy changes, intended to alleviate gender disparities, can benefit the career trajectories of all faculty members. Specifically, this study highlights the crucial role of codifying procedures and responsibilities in neutralizing subjectivity and inconsistencies in promotion outcomes due to varying departmental climates.

The impact of compensation upon urban village residents satisfaction with the land expropriation process

2019 ◽  
Vol 11 (3) ◽  
pp. 186-216
Author(s):  
Ning Chai ◽  
Rob Stevens ◽  
Xiaozhen Fang ◽  
Chun Mao ◽  
Ding Wang
Keyword(s):  
Local Governments ◽  
Family Income ◽  
Local Level ◽  
Urban Redevelopment ◽  
National Standard ◽  
Land Expropriation ◽  
Content Type ◽  
Urban Village ◽  
Monthly Family Income ◽  
The Impact

Purpose The purpose of the paper is to investigate compensation and related welfare issues in the case of the expropriation of land for urban redevelopment in China. Design/methodology/approach A mixed methods quantitative and qualitative approach was selected to undertake the research. This involved a wide ranging qualitative review of the academic and policy literature to explore the relevant arguments and issues, combined with a quantitative regression analysis of survey data collected from research subjects. Findings The research identified the complex and changeable phenomena of urban village redevelopment in China, and the variable compensation arrangements used. The research found that monthly family income before land expropriation, monthly family expense before expropriation, the location of the housing expropriation and family unit size are important determinants for the property holders chosen methods of compensation. It also found that an increase in family size leads to a decreasing probability that the expropriated farmers choose the single monetary compensation relative to the alternative option of housing compensation. The degree of satisfaction with compensation, changes in monthly family income and expense are found to be significant determinants for changes in life satisfaction. Research limitations/implications The research made the following four recommendations based upon the qualitative and quantitative analysis: that local governments should pay closer governance/ political attention to changes in the welfare of the farmers/ villagers whose property has been expropriated; that central and local government should aim to improve the compensation system for rural land and property expropriation, to make the compensation policy be perceived as fairer and more reasonable by citizens; that a broad National standard of compensation be used within a pragmatic locally focussed regime; that the Chinese Central, Provincial and Local governments can devise improved policy tools and make more effective policy interventions by learning from the experiences (both successes and failures) of other countries approaches to this topic. It also suggested that further research be undertaken investigating the multitude of local level policy experiments, as a way of developing better National compensation standards based upon those compensation standards that appear to be working – and have citizen support – at the local level. Originality/value The literature review identified recent developments in Chinese urban studies and originally synthesised both recent and longstanding work on the issue of urban villages in China. The research also suggested changes to the National and Local legal and policy framework for compensation cases in urban redevelopment expropriation scenarios.

Option effect of land transfer by city governments: a case study of Hangzhou

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ling Zhang ◽  
Minghui Zheng ◽  
Zheyan Zhang
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Local Governments ◽  
Positive Impact ◽  
Option Value ◽  
Hedonic Price ◽  
City Governments ◽  
Content Type ◽  
Land Transfer ◽  
The Impact

PurposeThis paper aims to study the impact of land options on the land transfer behaviour of Chinese city governments.Design/methodology/approachBased on the institutional environment of Hangzhou, China, the option pricing model is used to measure the option value of the trading plots. The effect of the option value on the land transfer price and the timing of transfers are estimated respectively, using the hedonic price model and the survival analysis models.FindingsThe results show that the option value has a significant explanation on land price and timing of land transfers. Under the effect of option value, the positive impact of fiscal pressure on the possibility of land transfer weakens. From the perspective of the annual option premium rate, the option premium is closely related to the real estate cycle. Option premiums are higher during booms but lower during recessions and in new urban areas.Practical implicationsBy revealing the distinction of land option premiums in different places and times, this paper provides a reference for city governments seeking a balance between real estate regulation and obtaining more land revenue.Originality/valueBy introducing policy variables that reflect the degree of tightness of real estate regulation and indicators of local government financial pressure, the paper discusses the impact of options on the transfer behaviour of local governments in different situations.

Unrest begins to boil over as China's economy falters

2015 ◽  
Keyword(s):  
Civil Society ◽  
Public Sector ◽  
Local Governments ◽  
New Normal ◽  
Content Type ◽  
Social Instability ◽  
Economic Slowdown ◽  
The Impact ◽  
Double Digit ◽  
China’S Economy

Significance Leaders describe this as a 'new normal', backtracking on their warnings during the era of double-digit growth that failure to keep growth above 8.0% would lead to social instability. However, unrest among the 770 million strong workforce is rising rapidly, much of it directly related to the economic slowdown. Businesses are closing and employers failing to pay wages and benefits. Local authorities are responding to this unrest with greater force. Impacts Tensions between workers and the authorities will remain high as local governments and police take a tougher stance with strikers. The current crackdown on civil society will reduce NGOs' ability to intercede in and successfully resolve labour conflicts. The impact of the economic slowdown will broaden to include workers in the mining and energy sectors. Low-paid public sector workers will stage strikes and protests as cash-strapped local governments cut employee pension and other benefits.

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