scholarly journals A comparative study of COVID-19 responses in South Korea and Japan: political nexus triad and policy responses

2021 ◽  
pp. 002085232199755
Author(s):  
M. Jae Moon ◽  
Kohei Suzuki ◽  
Tae In Park ◽  
Kentaro Sakuwa

Korea and Japan, neighboring democratic countries in Northeast Asia, announced their first COVID-19 cases in January 2020 and witnessed similar patterns of disease spread but adopted different policy approaches to address the pandemic (agile and proactive approach versus cautious and restraint-based approach). Applying the political nexus triad model, this study analyzes and compares institutional contexts and governance structures of Korea and Japan, then examines the differences in policy responses of the two Asian countries. This study first reviews the state of COVID-19 and examines changes in the conventional president-led political nexus triad in Korea and the bureaucracy-led political nexus triad in Japan. Then, this study examines how the differences in institutional contexts and governance structures shaped policy responses and policy outcomes of the two countries in managing the COVID-19 crisis. Points for practitioners •  Institutional and governance structure in a society are likely to affect policymaking processes as well as selection of policies among various policy alternatives. •  Government officials often need to refer to government capacity as well as citizens’ voluntary participation in resolving wicked policy problems like COVID-19. •  Policy decisions made by government officials affect policy outcomes while political environment and political leadership are equally important to policy effectiveness.


2021 ◽  
pp. 1-16
Author(s):  
Bob Hancké ◽  
Toon Van Overbeke ◽  
Dustin Voss

We examine economic policy responses to the COVID-19 induced economic collapse in Germany (a coordinated market economy) and the UK (a liberal market economy). The two countries responded to the symmetric economic shock with very similar furlough and business credit schemes to stabilize the demand and supply sides of the economy. However, since these policies fed into very different political-economic structures in both countries, they produced very different results. We attribute this divergence to the effect of “institutional complementarities,” the notion in Varieties of Capitalism that different elements of a system are mutually articulated and, therefore, mutually reinforcing beyond their initial contribution, or vice versa. Our results serve as a cautionary tale to policymakers that introducing policy elements developed in other institutional contexts is complex and challenge us to consider systematically the way in which institutional frameworks actively shape policy outcomes.



2004 ◽  
Vol 6 (3) ◽  
pp. 1-20 ◽  
Author(s):  
Magali Delmas ◽  
Alfred Marcus

This paper compares the economic efficiency of firm-agency governance structures for pollution reduction using transaction costs economics. Two governance structures are analyzed with the transaction costs approach: command and control regulation (CCR) and negotiated agreements (NAs). We propose that the choice of governance structure depends on the strategies firms pursue given the attributes of their transactions and their market opportunities. The application of transaction cost economics analysis leads to different choices of regulatory instruments. Firms in more mature, stable industries are likely to choose command and control, while firms in new, dynamic sectors are more likely to opt for negotiated agreements. Frequency of transactions is a key factor in firm choice.



2018 ◽  
Vol 51 (3) ◽  
pp. 598-616 ◽  
Author(s):  
Jaewoo Cho ◽  
Jae Hong Kim ◽  
Yonsu Kim

While much scholarly attention has been paid to ways in which metropolitan areas are politically structured and operated to achieve a dual goal, economic growth, and equality, relatively less is known about the complex relationship between metropolitan governance structures and growth–inequality dynamics. This study investigates how and to what extent metropolitan governance structures shape regional economic growth and inequality trajectories using data for 267 US metropolitan areas from 1990 to 2010. Findings from a two-stage least squares regression analysis suggest that economic growth is associated with governance structures in a nonlinear fashion, with relatively more rapid growth rates in both highly centralized and decentralized metropolitan areas. However, these regions are also found to experience a larger increase in income inequality, indicating an important trade-off to be considered carefully in exploring ways to reform existing governance settings. These findings further suggest that the so-called growth–inequality trade-off may exist not only in their direct interactions but through their connections via governance or other variables.



2018 ◽  
Vol 1 (2) ◽  
Author(s):  
M.V. Shivaani

The study attempts to explore the relationship between riskgovernance structureand firm performance. In perhaps the first of its kind attempt, a normative framework for risk governance structures is being put forward. Based on the framework, an index indicating strength/quality of risk governance structures is proposed. Then, the impact of risk governance structure on firm performance is gauged. To this end, the study makes use of constituents of S&P CNX500 index and covers a ten year period from April 1, 2005 to March 31, 2015.To control for potential endogeneity among variables of interest, the study makes use of a robust and reliable methodology,‘difference-GMM’. In addition, to ensure completeness of results, the study employs control variables such as recession dummy, firm’s age, size, and growth rate and leverage ratio. The results suggest that robust risk governance structures do not necessarily lead to better firm performance. In fact, risk governance index is negatively related to both ROA and ROE. The relationship is not statistically significant but has wide economic implications. A prominent implication being, mere constitution of risk management committee and appointment of CRO will not improve firm performance; regulators and companies need to ensure that governance structures are not too rigid, excessively risk averse and ineffective and inefficient in decision making. Given the simplicity and reliability of the proposed risk governance index, and the recommendations put forth in the paper, the study is expected to be of immense utility in an important yet neglected area of risk governance.



2019 ◽  
Vol 8 (1) ◽  
pp. 1-24
Author(s):  
Rubeena Tashfeen ◽  
Saud Hayat ◽  
Afreen Mallik

This study examines the effectiveness of the corporate governance structure when coping with any potentially unexpected events. For the purpose of this research, an event study has been conducted in order to investigate the market responses of various firms through the Cumulative Average Abnormal Return (CAAR) of the stocks listed on the Pakistan Stock Exchange (PSX). The stocks data under consideration is that which was presented after the assassination of Benazir Bhutto in 2007. The overall results indicate that firms that are governed conventionally do not perform well in the markets during a crisis situation. In our comparison of conventionally, and non-conventionally governed firms, the overall pooled results show that the former record a lower CAAR. This, in short, indicates that conventional corporate governance structures may not be equipped to take timely and dynamic actions that are deemed necessary in the face of a crisis. Moreover, our results suggest that firms which have less diversified ownership, and governance mechanisms are less vulnerable to such unanticipated events. There are two reasons that support our hypotheses: first, strict governance mechanisms, and a resultant cautious/conservative approach may not allow firms to take timely and proactive decisions during these situations and second, there is a lower chance of existing agency problems, as family owners would be working for the protection of their own wealth during these events. Therefore, our findings ultimately reveal that the conventional corporate governance structures that work during normal time period, may become ineffective during a crisis. This study, aims to fill a gap in the literature in order to provide fresh insights into the stock market dynamic, and corporate governance risk management. Furthermore, it also highlights the benefits of family owned structures, and unconventional corporate governance systems, that may outperform conventional governance structure in some situations. This, however, raises the question whether one governance framework could be the correct fit in all the situations.



2021 ◽  
Author(s):  
◽  
Wimonmat Srichamroen

<p>The Thai government has included health promotion in its national policies and strategies to directly address the health of the elderly. Multiple government organisations at various levels are involved in this health promotion policy and its related efforts. With an emphasis on ensuring that the elderly in the community benefit from national health promotion policies, and have access to health promotion services, the policies directed government organisations to work together as a network to implement the health promotion policy for the elderly at the local level. The Local Administrative Organisations (LAOs), decentralised government organisations, acted as the centre of the networks in each sub-district across the country. Networks play a role as an essential mechanism in the health promotion policy implementation for the elderly and in reaching out to the smallest unit of the community: individual older people. However, there are known gaps in the functioning of the decentralised governance arrangements and in coordination between organisations to implement the health promotion policy. Policy implementation can be improved to ensure that key goals and objectives are met.   The objective of this research was to analyse the ways in which the LAOs and other government organisations together implement the health promotion policy for the elderly at the local level in Thailand. Using a network perspective, the governance structure and governance characteristics, including relationships and the functioning of the policy implementation network, are identified and analysed. How the observed network characteristics affect network collaboration, policy outcomes, and actors’ capacity in policy implementation are then explored.   Within an interpretivist perspective, the research employed multiple network analysis approaches and mixed methods data collection such as network mapping, non-participant observation, interviews, and questionnaire surveys, across two case study sites. A combination of thematic analysis and constant comparative methods were employed to analyse the data.  The networks in this study were found to have a hybrid governance form, being a combination of lead organisation-governed and shared governance. However, it is not possible to predict the likelihood of achieving good policy outcomes based on the form of network governance alone; other networks characteristics must also be studied. At the network level, influential factors indicative of policy outcomes were found to be the exchanges of political and cultural capitals between network actors, with the latter differentiating the policy outcomes across the two cases. To improve the network actors’ capacity in policy implementation, learning and resource exchanges between actors were found to be important. Based on the study findings, an intervention to improve policy outcomes should be encouraged through financial capital exchanges between network actors as this is when administrative authority is most dominant.   The research provides an empirical review to inform policymakers and practitioners that the most influential factors should be embedded during the funding process so that the policy implementation can better support health for the elderly and the aged society that Thailand is entering.</p>



Author(s):  
Ryan H. Murphy

AbstractThis paper considers how Bryan Caplan’s concept of rational irrationality may manifest in various political institutional arrangements, building off the demand curve for irrationality. Mob democracy, anarchy, autocracy, and constitutionally constrained democracy are the governance structures addressed. While anarchy is strictly better than mob democracy, under certain conditions, democracy, anarchy, or constitutionally constrained democracy may yield the best outcomes depending on the circumstances.



Author(s):  
Krystian Seibert ◽  
Alexandra Williamson ◽  
Michael Moran

The Australian philanthropic sector’s peak (or umbrella) membership body, Philanthropy Australia, has played a significant role in shaping sector responses to COVID-19 and influencing government policy initiatives regarding the voluntary sector. This research note explores four key actions taken by Philanthropy Australia, with a particular focus on policy advocacy. It highlights how ‘policy windows’ provide opportunities for voluntary sector peak bodies to demonstrate policy entrepreneurship, secure desirable policy outcomes and show their value to members, government and other stakeholders. ‘Bad times’ require new and innovative policy responses, and this research note provides insights into how voluntary sector peak bodies can shape policy and practice responses to major crises.



2019 ◽  
Vol 24 (5) ◽  
pp. 561-573
Author(s):  
Melissa van der Merwe ◽  
Johann F. Kirsten ◽  
Jacques H. Trienekens

Purpose This paper aims to make an empirical contribution by investigating the enforcement mechanisms and governance structures required to protect and govern a regional food product when public certification fails. As one of the recent additions to South Africa’s repertoire of products with a designated origin, Karoo Lamb made for an interesting case study. Design/methodology/approach A conjoint analysis was conducted to elicit the farmers’ preferred enforcement mechanisms to protect the authenticity of the Karoo Lamb product. The investigation, furthermore, draws on survey data collected among 73 farmers, five abattoirs, two processors/packers and five retail outlets to evaluate the governance structures of the Karoo Lamb supply chain. Findings The results indicate that due to failed public certification that is governed by market-like structures, Karoo Lamb is better off being governed by hierarchical structures. These structures are expected to allow for a stronger focus on stricter enforcement mechanisms. Practical implications At the farm level, the Karoo Lamb supply chain requires better enforcement mechanisms to protect the unique attributes of origin and taste to ensure the authenticity of Karoo Lamb. This change towards stricter enforcement requires more hierarchical structures to allow for private or mutual enforcement mechanisms. Originality/value This paper contributes empirically to the governance structure knowledge base by analysing the enforcement mechanisms and governance structures needed to enforce and protect, the quality and origin standards of a region of origin product, Karoo Lamb, in South Africa.



2018 ◽  
Vol 11 (2) ◽  
pp. 103
Author(s):  
Mariacristina Bonti ◽  
Enrico Cori

Governance in family businesses is a relatively recent research topic in the field of management studies. Much research has sought to shed light on the factors that shape the relationship between governance structures and corporate strategies. Nevertheless, very little research has specifically addressed the relationships between the configuration of the Board of Directors and the firm’s willingness to carry out innovative strategies. Our study aims to shed light on the relationship between the corporate governance structures and the pace of innovation within family SMEs. Evidence from three family-owned SMEs located in Tuscany (Italy) highlights that a traditional type of governance structure can co-exist with the search for innovative strategies and that the intensity of the innovation processes may not be tied to the Board’s composition.



Sign in / Sign up

Export Citation Format

Share Document