Audit committee director turnover

Actions by both private sector organizations and legislators in recent years have highlighted the importance of the audit committee of the board of directors of corporations in the financial reporting process. For example, the Sarbanes Oxley Act of 2002 has multiple sections that deal with the composition and functioning of audit committees. My dissertation examines multiple issues related to the composition of audit committees. In the first two parts of my dissertation, I examine the stock market reactions to disclosures of audit committee appointments and departures in the 8-Ks filed with the SEC during 2008 and 2009. I find that there is a positive stock market reaction to the appointment of audit committee directors who are financial experts. The second essay investigates the cumulative abnormal return to departure of audit committee directors. I find that when an accounting expert leaves the audit committee, the market reaction is significantly negative. These results are consistent with regulators’ concerns related to having directors with audit, accounting and other financial expertise on corporate audit committees. The third essay of my dissertation examines the changes in audit committee composition in the last decade. I find that while the increase in audit committee size is relatively modest, there has been a significant increase in the number of audit committee experts and the frequency of audit committee meetings over the past decade; interestingly, such increase in the number of meetings has persisted even after the media focus on the auditing profession, in the immediate aftermath of the Enron and Andersen failures, have waned. My results show that audit committee composition and its role continues to evolve with regulatory and other corporate governance related changes.

The influence of strategic HRM and sector on perceived performance in health services organizations

In this study, we examine a variety of management characteristics of for-profit and not-for-profit organizations in the health services (HS) industry. Data collected from Australian senior executives are used to test the relationships between managerial constructs such as employee commitment, customer demandingness, strategic HRM orientation and the adoption of human capital-enhancing human resource (HR) practices and perceived overall performance. Data analysis conducted using the Partial Least Square Modeling show a statistically significant path from commitment to employees, customer demandingness and strategic HRM orientation to the adoption of human capital-enhancing HR practices (such as selective staffing, comprehensive training, and performance appraisal) to perceived organizational performance. The results also show that private sector health service organizations have a higher level of perceived performance.

Organizational commitment profiles and job satisfaction among Greek private and public sector employees

Recent research into organizational commitment has advocated a profiles-based approach. However, with the exception of Wasti, published findings are confined to North American samples. This article examines the relationships between organizational commitment profiles and job satisfaction in Greece. Greek organizations have rarely been the subject of detailed examination, so the study provides baseline information regarding levels of organizational commitment and job satisfaction in Greece. Both private sector (N = 1119) and public sector (N = 476) employees in Greece were surveyed, as this sectoral distinction is regularly associated with different patterns of job-related attitudes. The contrasts between Greek and Anglo-American values present a new challenge to the profiles approach. The results confirm the utility of the profiles approach to the study of organizational commitment. Affective organizational commitment was found to be most influential with respect to levels of intrinsic and extrinsic job satisfaction. This concurs with other studies of the behavioural outcomes of commitment. Copyright © 2007 Sage Publications.

Value and proportions of intangible assets : A comparison between the private- and the public sector

Organizations within the public- and the private sector have different aims with their accounting. Privately held organizations often have the intention to make profit, while authorities within the public sector aim to provide citizens with different services. The difference between these two sectors is also visible in the legislation, where International Accounting Standards Board set the standards for privately held organizations and Ekonomistyrningsverket do the same for the public sector. Because of the larger demand by the society for knowledge and technology, included in the category intangible assets, these are more emphasized in the accounting for organizations. Intangible assets are although linked with complexity which is associated with the measurement. The purpose of this study is therefore to see whether there are any existing differences in how to measure and value intangible assets and internally generated ones between listed companies in the private sector and authorities operating in the public sector. This study is conducted with both a qualitative and quantitative perspective. The data collected for this study is secondary, and is gathered through samples of annual reports from different companies in order to be representative for the whole population. The main results of this study is that there are differences in the measurement and valuation of intangible assets dependent on which sector an organization operates within and this is not due to the standards and regulations. The differences are visible in the percentage change in value of intangible assets since they fluctuate more heavily in the private sector than in the public sector. Simultaneously, the proportions of internally generated intangible assets compared to intangible assets in general differ between the two sectors.

Thrown in the deep end : newcomers and public sector reform

Triggered by the continuing global financial crisis, most public administration systems internationally are reviewing their ability to meet public expectations in more challenging strategic environments, while satisfying the pressure from their political masters to drive down the costs of public administration. Consequently public sector organizations are under constant pressure to reform to meet not only the global economic challenges, but the need for more responsive government (Brown et al 2003). Doyle et al (2000) propose that organizational change is seldom well managed, but that the public sector faces greater difficulty in implementing corporate change than the private sector because of its unique environment, e.g. the need to deliver bureaucratically impartial outcomes. The scale of the changes required, and the constraints imposed by the context within which these changes need to occur, have intensified the need for capable public sector leadership and management. The types of capability required now extend beyond those typically required in public organizations through the efficiency drive of new public management. Acquiring these capabilities remains a key issue for public organizations. One challenge for public management, then, is leadership and management quality, including the need to recruit externally to refresh, re-energize and change the sector and its individual organizations as well as develop advanced skills among existing senior executives.

Qualitative and quantitative analysis of six sigma in service organizations

The concept of Six Sigma was initiated in the 1980s by Motorola. Since then it has been implemented in several manufacturing and service organizations. Till now Six Sigma implementation is mostly limited to healthcare and financial services in private sector. Its implementation is now gradually picking up in services such as call center, education, construction and related engineering etc. in private as well as public sector. Through a literature review, a questionnaire survey, and multiple case study approach the paper develops a conceptual framework to facilitate widening the scope of Six Sigma implementation in service organizations. Using grounded theory methodology, this study develops theory for Six Sigma implementation in service organizations. The study involves a questionnaire survey and case studies to understand and build a conceptual framework. The survey was conducted in service organizations in Singapore and exploratory in nature. The case studies involved three service organizations which implemented Six Sigma. The objective is to explore and understand the issues highlighted by the survey and the literature. The findings confirm the inclusion of critical success factors, critical-to-quality characteristics, and set of tools and techniques as observed from the literature. In case of key performance indicator, there are different interpretations about it in literature and also by industry practitioners. Some literature explain key performance indicator as performance metrics whereas some feel it as key process input or output variables, which is similar to interpretations by practitioners of Six Sigma. The response of not relevant and unknown to us as reasons for not implementing Six Sigma shows the need for understanding specific requirements of service organizations. Though much theoretical description is available about Six Sigma, but there has been limited rigorous academic research on it. This gap is far more pronounced about Six Sigma implementation in service organizations, where the theory is not mature enough. Identifying this need, the study contributes by going through theory building exercise and developing a conceptual framework to understand the issues involving its implementation in service organizations.

Can evidence-based healthy housing interventions be put into practice in the UK's private housing sector?

The UK’s public health agenda has encouraged enhanced housing and health interventions. The private housing sector (privately rented and owner occupied) is the favoured and majority UK tenure, but is it seen as a primarily health promoting environment, or a commercial asset? There has been a growing interest in integrating health and housing policy in recent years. However, housing and public health fall under separate government departments and funding regimes. Partnership working has sought to overcome silo working and encourage evidence-based practice, yet is particularly challenging for interventions in the private housing sector, with an increased emphasis on ‘personal responsibility’ for conditions. Strategic public health frameworks are in place, but barriers remain and there is pressure for organisations to revert to core activities. An accessible, continually updated evidence base specific to private sector housing is recommended, to help estimate health gain arising from interventions to prioritise activities and address inequalities.

Innovative medicines in the portuguese private health sector

The present dissertation aims at contributing to a strategic view over the use of innovative medicines in the portuguese private health sector, as a way of being complementary to public system that nowadays finances most of the innovative medicines. With the rationalization of expenses in the public health sector, pharmaceutical companies tend to look for opportunities of expansion to the private sector. The creation of innovative financial models for the private sector to cover innovative treatments is the proposed way of surpassing the restriction on the NHS sales of innovative medicines. This can be both for differentiating private health providers from the NHS or for the creation of premium services that can be differentiated from other private providers of the portuguese market.

Capital expenditure decision in private and public sector entreprises in India A comparative evaluation

This study is focussed on public and private sector The study is confined to industrial Public companies in the states of Kerala and Orissa along with companies in India. undertakings only. sector and private sector private sector companies in other states were studied. Even though the original plan of 190 companies as the sample size could not be accomplished, as the responses were very poor, but data could be collected frmn 6 public and 5 private sector companies in Kerala, 8 public and 8 private sector companies in Orissa along with 27 private sector companies in other states totalling to 54 companies. The number of years of data collected varies from 2 years to 6 years. Factors which are affecting capital expenditures and hence leading to the performance of private sector compared to public sector companies are studied. After the study and analysis, comparisons are made between public sector and private sector, and suitable recomendations are made so that public sector industries can also perform equally well as the private sector industries in India.

Public sector ethics in Sweden : a 4P-model of internal and external determinants in codes of ethics

This article summarizes and aggregates the results of a study conducted of the largest 100 public sector organizations derived from three categories in Sweden. These categories of organizations comprise 40 entities of government, 40 municipalities, and 20 county councils. The objective was to describe the determinants of codes of ethics in Swedish public sector organizations. This research reports on the responses of 27 organizations that possessed a code of ethics. The principal contribution is a 4P-model of seven internal and external determinants in public sector codes of ethics. The identified determinants relate to four principal sectors of a society, namely: public community sector, private corporate sector, private citizen sector, and political/policy conduct sector.

Codes of ethics best practice in the Swedish public sector: a PUBSEC-scale

Examines business ethics in Swedish public sector organizations, and in particular, explores the content of public sector codes of ethics; suggests that it is possible through such an analysis to gain an understanding of an organization's performance in this area. Describes the questionnaire survey sent to public sector organizations (government, county councils, municipalities) requesting information on how they developed an ethical ethos into their daily operations, and details the analysis undertaken into their codes of ethics. Draws on case studies with public sector units representing best practice, in respect to codes of ethics, to develop a customized public sector scale (PUBSEC-scale) consisting of seven dimensions and 41 items. Makes suggestions as to how the PUBSEC-scale could be used; points to the differences between the codes of ethics in the public and private sectors; looks at what the private sector can learn from the public sector; makes suggestions for further research.

Implementation, communication and benefits of public sector codes of ethics : a longitudinal study of Sweden

Purpose – The purpose of this paper is to examine the implementation, communication and benefits of codes of ethics in the public sector of Sweden.

Design/methodology/approach – The research is based on a longitudinal approach. It examines the ethos of codes of ethics in the largest public sector organizations of Sweden in 2001-2002 and 2005-2006.

Findings – Only a few of the largest public sector organizations in Sweden have indicated that they possess codes of ethics. This finding may be explained by the current judicial legislation that governs Swedish society. The public codes of ethics have been established both recently and, in part, years ago.

Research limitations/implications – A suggestion for further research would be to examine the implementation, communication and perceived benefits of public sector codes of ethics in other countries. Another area of further research would be to replicate the reported surveys in the future to examine the existence of potential trends.

Practical implications – When it comes to the perceived benefits of public sector codes of ethics there appears to be only minor acknowledgement of the code being used to resolve ethical problems in society. However, there is a strong conviction that the code of ethics positively influences the operations of public sector organizations.

Originality/value – The paper examines the ethical implementation, communication and benefits put in place by private companies to embed codes of ethics into their organizations.

Promoting energy efficiency in the private rented sector

The English House Condition Survey for 1991 demonstrated that levels of energy efficiency in private rented property are significantly below other sectors, even though energy improvements have tangible benefits for landlords. The low level of energy efficiency provision in the private rented sector indicates that landlords are unaware or unconvinced of these benefits and market barriers may have restricted uptake. Information regarding energy efficiency advice to the private rented HMO sector has focussed on offering good practice design guidance, and information about the level of fitness and overall characteristics of the sector. This research project evaluated the PRESS scheme, which encouraged landlords to introduce energy efficiency measures. A total of 78 private sector rented properties in Sheffield were analysed with retrofit measures to improve levels of energy efficiency. The results demonstrate that whilst market barriers exist, the PRESS scheme went some way to overcoming some barriers to energy efficiency.

Improving collaboration between private psychiatrists, the public mental health sector and general practitioners : evaluation of the Partnership Project

Objectives: We describe the evaluation of the Partnership Project, which was designed to improve linkages between public and private sector mental health services. We consider the Project's key elements: a Linkage Unit, designed to improve collaborative arrangements for consumers and promote systems-level and cultural change; and the expansion of private psychiatrists' roles to include supervision and training, case conferencing and secondary consultation. The evaluation aimed to describe the impacts and outcomes of these elements.

Method: The evaluation used de-identified data from the Linkage Unit database, the Project's billing system, and the Health Insurance Commission (HIC). It drew on consultations with key stakeholders (semistructured interviews with 36 key informants, and information from a forum attended by over 40 carers and a meeting of five public sector and three private sector psychiatrists) and a series of case studies.

Results: The Linkage Unit facilitated 224 episodes of collaborative care, many of which had positive outcomes for providers, consumers and carers. It had a significant impact at a systems level, raising consciousness about collaboration and influencing procedural changes. Thirty-two private psychiatrists consented to undertaking expanded roles, and the Project was billed $78 032 accordingly. Supervision and training were most common, involving 16 psychiatrists and accounting for approximately 80% of the total hours and cost. Commonwealth expenditure on private psychiatrists' participation in the expanded roles was not associated with a reduction in benefits paid by the HIC. Key informants were generally positive about the expanded roles.

Conclusions: The Project represented a considered, innovative approach to dealing with poor collaboration between the public mental health sector, private psychiatrists and GPs. The Linkage Unit achieved significant systems-level and cultural change, which has the potential to be sustained. Expanded roles for private psychiatrists, particularly supervision and training, may improve collaboration, and warrant further exploration in terms of costs and benefits.

Engaging in collaborative R&D : an international case study of cross-sector collaboration

This paper examines cross-sector engagement by drawing on a case study of a successful R&D project which involved an Australian Cooperative Research Centre (with CSIRO as a partner), and the eyecare products company Ciba Vision. This project resulted in the market launch of an extended wear contact lens, a break-through product. The engagement process moved through two phases. In an initiation phase, partner reputation and the potential for complementary resources were important in the partnering decision. In an engagement phase, the partners built a relationship and focused on the tasks to be completed. In doing so, they made a number of credible commitments to the venture (most notably to jointly assign project intellectual property between the public and private sector partners), developed a trusting relationship, adopted a disciplined and effective project management approach, learned the capability for cross-sector collaboration management, and put much effort into fostering communication to facilitate team building and the task focus. The management approach taken lead to a positive experience of the project among the partners, and this was positively associated with tangible project outcomes. Such collaborations may persist across projects, but in a disengagement phase negotiations on the conditions of exit may be required. It is concluded that to build a successful cross-sector collaboration requires interpersonal engagement within and across the organizations involved.