Private and Public Investments in Biomedical Research

Recent policy attention has focused on proposals to reduce prices for drugs that have received public funding. From an implementation perspective, such policies rely on public disclosure of government support for research. In this paper, we highlight two conceptual problems with past attempts to measure these public disclosures and construct a new dataset that corrects for these problems. Our corrected measures suggest that underreporting of public research support is less of an issue than previously thought.

Social transformation interventions at South African public universities

Purpose The purpose of this study was to identify the transformation disclosures in the publicly available annual reports of South African public universities and to establish the extent to which universities account to their stakeholders about how they have discharged their transformation obligations. Design/methodology/approach This exploratory qualitative study involves a thematic content analysis of publicly available annual reports using ATLAS.ti software to identify and categorise transformation interventions disclosed by South African public universities. Findings This empirical study identifies several interventions that universities have introduced to facilitate access to and successful completion of tertiary studies by students. Some of the disclosed mechanisms include the provision of financial aid, student support and counselling, tutoring and mentoring and ICT enhancements and the introduction of language policies. The results also highlighted several challenges to sustainable transformation including funding, social and academic barriers and infrastructural challenges experienced by universities. Originality/value According to the authors’ knowledge, this study represents one of the first studies to use the public disclosures in the annual reports of public universities to identify interventions introduced to facilitate transformation of the student body. Despite its South African orientation, the observations have implications for universities worldwide experiencing similar challenges, especially in developing countries.

Governance of professional accounting bodies: a comparative analysis

PurposeThis study examines the governance structures, practices and related public disclosures of the world's largest professional accounting bodies (PABs). Key aims are to advance the limited available knowledge and guidance on PAB governance and highlight avenues for further research and debate on how PABs can strengthen their governance arrangements.Design/methodology/approachContent analysis of extant governance arrangements for the subject PABs was conducted using a range of secondary data and guided by available international governance frameworks. The authors focused on identifying critical differences across the studied PABs. The governance recommendations and future research themes presented emerged from an analysis of relevant knowledge on governance practices from the academic literature and other sources.FindingsThe paper presents a detailed comparison of PAB governance arrangements across the themes of strategic disclosures, committee arrangements and member engagement. From this analysis, 20 recommendations are presented that seek to fortify the capacity of PABs to uphold their professional and public interest responsibilities.Originality/valueThis is the first paper to systemically examine the governance arrangements of the world's largest PABs. It thus adds to knowledge about the efficacy of extant arrangements in facilitating accountable and transparent self-regulation of PAB responsibilities. Crucial future research opportunities are also highlighted to provoke and guide long-neglected debate on PAB governance.

Mobility, exposure, and epidemiological timelines of COVID-19 infections in China outside Hubei province

The 2019 coronavirus disease (COVID-19) is pseudonymously linked to more than 100 million cases in the world as of January 2021. High-quality data are needed but lacking in the understanding of and fighting against COVID-19. We provide a complete and updating hand-coded line-list dataset containing detailed information of the cases in China and outside the epicenter in Hubei province. The data are extracted from public disclosures by local health authorities, starting from January 19. This dataset contains a very rich set of features for the characterization of COVID-19’s epidemiological properties, including individual cases’ demographic information, travel history, potential virus exposure scenario, contacts with known infections, and timelines of symptom onset, quarantine, infection confirmation, and hospitalization. These cases can be considered the baseline COVID-19 transmissibility under extreme mitigation measures, and therefore, a reference for comparative scientific investigation and public policymaking.

Digitizing and Disclosing Personal Data: The Proliferation of State Criminal Records on the Internet

Digitization and the release of public records on the Internet have expanded the reach and uses of criminal record data in the United States. This study analyzes the types and volume of personally identifiable data released on the Internet via two hundred public governmental websites for law enforcement, criminal courts, corrections, and criminal record repositories in each state. We find that public disclosures often include information valuable to the personal data economy, including the full name, birthdate, home address, and physical characteristics of arrestees, detainees, and defendants. Using administrative data, we also estimate the volume of data disclosed online. Our findings highlight the mass dissemination of pre-conviction data: every year, over ten million arrests, 4.5 million mug shots, and 14.7 million criminal court proceedings are digitally released at no cost. Post-conviction, approximately 6.5 million current and former prisoners and 12.5 million people with a felony conviction have a record on the Internet. While justified through public records laws, such broad disclosures reveal an imbalance between the “transparency” of data releases that facilitate monitoring of state action and those that facilitate monitoring individual people. The results show how the criminal legal system increasingly distributes Internet privacy violations and community surveillance as part of contemporary punishment.

Corporate communication as a governance mechanism: A content analysis of corporate public disclosures

Corporate communication efforts have mainly been viewed as a by-product of governmental regulations and board of directors’ oversight. In this paper, we examine the role of corporate communication as a stand-alone governance mechanism. We introduce a new business-related dictionary and conduct automated textual analysis of over 150,000 electronic documents filed by a sample of firms listed on the S&P/TSX Composite Index from 1999 to the end of 2014. Our findings demonstrate the governing role of corporate communication by documenting the adverse market effects of deviations from the expected level of communication. Moreover, as a governance mechanism, corporate communication shows substitution/complementary relationships with other established governance mechanisms. In addition, we find a non-linear relationship between a firm’s communication efforts and its value and risk levels. Results are robust after controlling for major corporate events (M&A, spin-offs, financial distress and bankruptcy, and significant lawsuits). These findings contribute to corporate governance literature and the understanding of agency theory predictions of communications and disclosures’ economic effects

The EU Whistleblower Directive and its Transposition: Part 2

The Whistleblower Directive of 2019 is by far the European Union’s most important piece of whistleblowing legislation to date, covering a remarkably broad range of regulatory fields and subjects. After Part 1 of this two-part article series, which mostly focused on the Directive’s scope and general conditions for whistleblower protection, Part 2 will analyse its provisions on public disclosures and the various measures for protection and support that Member States are required to implement. Following this discussion, the article will then turn to some of the most pressing legislative questions each Member State will have to answer before the deadline for transposition passes on 17 December 2021.

Transitional Justice and Temporal Parameters: Built-In Expiration Dates?

Temporal assumptions associated with personnel reforms, such as lustration and public disclosure programs, both prescribe the optimal timing for the onset of measures and proscribe a long duration for such measures. In the context of the post-communist transitions, these assumptions suggested that lustration and public disclosures should be enacted as soon as possible after a regime transition, with the legitimacy, motives, and legal appropriateness of delayed measures being questioned. In terms of duration, personnel reforms should have fixed time limits, often suggested as no more than a decade. This article critically explores the evolution of these temporal assumptions through an examination of the legal rulings, intergovernmental policies, and recommendations of the Parliamentary Assembly of the Council of Europe, the European Court of Human Rights, and the Venice Commission. The article illustrates the tension between the continued use of the measures by some post-communist states and international rulings signalling their expiration.

Short Position Disclosures and Underlying Stock Performance: Evidence from Polish Stock Market

After introducing EU Regulation on short selling and certain aspects of credit default swaps, in 2012, investors holding a significant short positions are obliged to disclose it in a public manner, through the local supervisor registry. Beside the intended transparency, such a registry also have a cogent influence on behaviour of market participants. The Multimillion euros worth of short position is a strong view on underlying stock perspective, to say the least. Thus, many investors do care about the public disclosures of short positions and some of them manage their portfolios accordingly. The aim of herein paper is to provide quantitative assessment of stock performance following short position announcement and present activity of short selling investors on Polish stock market. The research hypothesis verified in this study stated that the prices of short sold stocks are exhibiting significant downward trend relative to the benchmark in a half a year period after disclosure.