Codes of ethics in large private sector Australian businesses

This thesis deals with codes of ethics in the top 500 companies operating in the private sector in Australia. We seek to answer two questions. First, can businesses adopt codes of ethics in a meaningful way, or are business ethics a contradiction in terms for profit seeking organisations in competitive markets? Second, to what extent do Australia’s top 500 private sector firms show commitment to codes of ethics? A number of ancillary questions are explored to form a picture of the current Australian situation and to compare it to the rest of the world, especially the US and Canada. Chapter 1 discusses these questions and the origins of the author’s interest in business ethics. This chapter develops a focus upon codes of ethics and their role in assisting to establish and maintain an ethical culture. The chapter looks at previous research on codes of ethics and demonstrates a lack of understanding in Australia on the subject and the need for research into it. Also included in Chapter 1 is the plan for the thesis. Chapters 2 to 4 review the literature upon which the thesis is based. In Chapter 2, the meaning of the terms ethics and business ethics are considered. Deontological and teleological approaches are distinguished and a (largely) teleological model of business ethics is developed. This chapter also asks whether business ethics are possible. The contention that ethics may be good for a business’s profit is explored in-depth and the conclusion is reached that ethics should be pursued for its inherent worth regardless of the economic benefit that can be attributed to it. A number of models of ethical decision making are discussed in Chapter 3 starting with Kohlberg and Kramer (1969). This discussion leads to the conclusion that organisations must create an ethical culture for staff if they require them to embrace ethical practices. If this is a correct conclusion, then the role of senior managers becomes critical in the process. Chapter 4 looks further at the role of senior managers, organisational culture and ethical/unethical behaviour in organisations. The conclusion is that senior managers do play an integral part in shaping the culture of an organisation. Their actions, either overtly or covertly, impact upon their staff and highlight behaviour that the organisation is or is not willing to tolerate. Sims (1991) proposed ten ways to foster an ethical culture and these ideas are set out and further explored through the work of other writers on management ethics. Finally, the link between ethics and strategic planning is examined. In Chapter 5 the methods used for empirical data gathering are described and justified. A number of factors that can lead us to consider a company’s ‘commitment’ to ethics are outlined. A survey of Australian companies was the primary means of data collection. Each question in the survey instrument is listed and explained. Also the survey response rate is reported, as are major demographic characteristics of respondents. Chapter 6 provides the research findings from the survey of the top 500 companies operating in the private sector in Australia. The research examines: i) the current Australian usage and implementation of codes of ethics; ii) the measures put in place in organisations in order to support a code; From this analysis conclusions are drawn about the ‘commitment’ of companies operating in Australia to codes of ethics. Australian companies are becoming aware of the potential of code usage. Companies operating in Australia that have codes appear to be good at implementing codes and examining staff performance in relation to codes. However, they lack the procedures that incorporate education and training and the implementation of the support mechanisms necessary to enhance employee understanding of the code. In Chapter 7, Australian codes are compared to American and Canadian codes for similarity and disparity. The assessment found that in all three countries codes are primarily concerned with company continuance. Australian codes do tend to be more socially oriented than in the other two countries and also less legalistic. Chapter 8 looks at 4 companies from the first survey that were asked for more in-depth information in a quest to determine current best practice in Australia. These organisations were chosen because they appeared, from the first survey instrument, to have put in place mechanisms to assist employees to better understand the code. The implication is that companies must make a conscious, positive effort to ensure that employees are considered in the process of ethical development. They should have input into the process, rather than just being directed to follow another management initiative. The final chapter summarises the research findings and looks at answers to the two major questions and the seven subordinate empirical questions posed at the start of the thesis. The conclusion reached is that companies operating in Australia appear to be moving towards establishing codes of ethics. Those who already have codes display a real commitment to them. The movement appears to be gathering momentum as more organisations see the value of incorporating ethical business practices into the every day workings of their individual companies. Generally, most Australian companies lag behind the rest of the world, but the pace-setting companies are defining their own best practice and achieving positive outcomes for themselves, their employees and other stakeholders.

Conflict of interest in policing and the public sector

Conflicts of interest are a key factor in the contemporary decline of trust in government and public institutions, eroding public trust in government and democratic systems. Drawing on two unique empirical studies involving policing and the broader public sector, this paper explores the meaning and dimensions of conflict of interest by examining public complaints about conflict of interest and providing distinctive insights into the nature of conflict of interest as a problem for public sector ethics. The paper analyses and explores appropriate regulatory and management approaches for conflict of interest, focusing on three elements: (1) dealing with private interests that are identifiably problematic in the way they clash with the duties of public officials; (2) managing conflicts as they arise in the course of public sector work (manifested in preferential and adverse treatment, and other problematic areas); and (3) developing ethical and accountable organisational cultures. It is concluded that effective and meaningful public sector ethics in the pursuit of the public interest must be based on an ethos of social accountability and a commitment to prioritise the public interest in both fact and appearance.

Conflict of interest in policing : problems, practices, and principles

Examines conflict of interest across the private and public realm of the everyday lives of police officers. Outlines how the problem is an important aspect of police ethics, arguing that recognition of, and accountability for, conflict of interest may be a significant element in preventing police misconduct and corruption

Costs and benefits of mandatory auditing of for-profit private and not-for-profit companies in Australia

This paper addresses the paucity of research surrounding the mandatory auditing of for-profit private and not-for-profit companies in Australia. We document the various mandatory auditing provisions under the Corporations Act and identify over 22 000 companies that lodge audited accounts with the regulator under federal law. In 2011, 6339 large proprietary companies, 186 small proprietary companies, 2797 foreign-owned companies, 3985 unlisted public companies and 8404 public companies limited by guarantee had an obligation under the Corporations Act to lodge audited accounts. While large proprietary and foreign-owned companies have an option to apply to the Australian Securities and Investment Commission for audit relief, we estimate that less than 10% are granted audit exemption. We document that since 1995 an additional 1500 large proprietary companies that should have lodged under the size provisions of the Corporations Act have been granted exemption from doing so (i.e., grandfathered), although these firms appear to be subject to an annual audit even though they do not lodge accounts. We estimate the costs and discuss the potential public interest and firm-level benefits associated with the mandatory auditing of for-profit private and not-for-profit companies in Australia.

Government policy and private investment in Brazil (1955/82)

The questlon of the crowding-out of private !nvestment by public expenditure, public investment in particular , ln the Brazilian economy has been discussed more in ideological terrns than on empirical grounds. The present paper tries to avoid the limitation of previous studies by estlmatlng an equation for private investment whlch makes it possible to evaluate the effect of economic policies on prlvate investment. The private lnvestment equation was deduced modifylng the optimal flexible accelerator medel (OFAM) incorporating some channels through which public expendlture influences privateinvestment. The OFAM consists in adding adjustment costs to the neoclassical theory of investrnent. The investment fuction deduced is quite general and has the following explanatory variables: relative prices (user cost of capitaljimput prices ratios), real interest rates, real product, public expenditures and lagged private stock of capital. The model was estimated for private manufacturing industry data. The procedure adopted in estimating the model was to begin with a model as general as possible and apply restrictions to the model ' s parameters and test their statistical significance. A complete diagnostic testing was also made in order to test the stability of estirnated equations. This procedure avoids ' the shortcomings of estimating a model with a apriori restrictions on its parameters , which may lead to model misspecification. The main findings of the present study were: the increase in public expenditure, at least in the long run, has in general a positive expectation effect on private investment greater than its crowding-out effect on priva te investment owing to the simultaneous rise in interst rates; a change in economlc policy, such as that one of Geisel administration, may have an important effect on private lnvestment; and reI ative prices are relevant in determining the leveI of desired stock of capital and private investrnent.

The Brazilian National Health Agency and the Mental Health Policy in the Context of the Private Health System: developments and challenges

This work analyses the mental health policy-making activity of the Brazilian National Health Agency (ANS), responsible for controlling health insurance companies. Three points are discussed: a) the framework of an economic and private health assistance regulatory activity, b) the ANS and its regulation activity and c) the rules produced by ANS in the mental health care field. It was concluded that, despite advances like the legal obligation to ensure medical treatment to all the diseases listed in ICD-10, the inclusion of suicidal patient damage and self-inflicted damage care, care provided by a multiprofessional team, the increase in the number of sessions with a psychologist, with an occupational therapist and of psychotherapy sessions, and mental health day hospitals included as part of the services offered, the authors identified specific regulatory gaps in this area. Some issues that ANS has to solve so that it can really play its institutional role of defending the public interest in the private health system are: the regulation of co-participation and franchise mechanisms, the increasing co-participation as a limitation of psychiatric hospitalization, and the limited number of crisis intervention psychotherapy sessions.

Balancing wildlife and bioenergy values on private forestlands in the eastern Upper Peninsula of Michigan

There is interest in developing a reliable, sustainable, domestic U.S. biofuels industry. A domestic biofuels industry has the potential to provide economic, environmental, and national security benefits on a local, regional, national, and global level. The Mascoma Corporation plans to develop a cellulosic ethanol facility in Michigan’s eastern Upper Peninsula. The primary feedstock of the plant site would be trees sourced within a 150 mile supply radius. In the eastern Upper Peninsula, this radius encompasses Alger, Chippewa, Delta, Luce, Mackinac, and Schoolcraft counties. In these six counties there are 1,320,500 acres of NIPF (non-industrial private forestlands). These acres account for 40% of the total timberland in these six counties. Thus it is likely that in order for the successful implementation of a cellulosic ethanol facility the support of local NIPF owners will be necessary. This thesis presents research on how eastern Upper Peninsula forest landowners think about and manage their land. It is based on 48 in-depth interviews with these landowners. The goal was to determine how landowner values and beliefs, on a variety of issues including wildlife management, land management, biofuels development, and climate change, are expressed through both their current management decisions, and possibly their future land management decisions. Some of the values articulated by the landowners in this study included biodiversity protection, conservation of healthy game populations, and the production of high-value timber. Understanding the values and beliefs of landowners in the eastern Upper Peninsula of Michigan is critical for successfully developing a sustainable regional woody bioenergy.

Spatial-temporal clustering of companion animal enteric syndrome: detection and investigation through the use of electronic medical records from participating private practices

SUMMARY There is interest in the potential of companion animal surveillance to provide data to improve pet health and to provide early warning of environmental hazards to people. We implemented a companion animal surveillance system in Calgary, Alberta and the surrounding communities. Informatics technologies automatically extracted electronic medical records from participating veterinary practices and identified cases of enteric syndrome in the warehoused records. The data were analysed using time-series analyses and a retrospective space-time permutation scan statistic. We identified a seasonal pattern of reports of occurrences of enteric syndromes in companion animals and four statistically significant clusters of enteric syndrome cases. The cases within each cluster were examined and information about the animals involved (species, age, sex), their vaccination history, possible exposure or risk behaviour history, information about disease severity, and the aetiological diagnosis was collected. We then assessed whether the cases within the cluster were unusual and if they represented an animal or public health threat. There was often insufficient information recorded in the medical record to characterize the clusters by aetiology or exposures. Space-time analysis of companion animal enteric syndrome cases found evidence of clustering. Collection of more epidemiologically relevant data would enhance the utility of practice-based companion animal surveillance.

Evaluation of a wellness program at a large private sector petrochemical company in Texas

The study purpose was to analyze the effects Integrated Health Solutions (IHS), an employee wellness program that has been implemented for one year on the corporate campus of a major private sector petrochemical company in Houston, TX, has on employee health. ^ Chronic diseases are the leading causes of morbidity and mortality in the United States and are the most preventable of all health problems. The costs of chronic diseases in the working-age adult population include not only health problems and a decrease in quality of life, but also an increase the cost of health care and costs to businesses and employers, both directly and indirectly. These emerging costs to employers as well as the fact that adults now spend the majority of waking hours at the office have increased the interest in worksite health promotion programs that address many of the behavioral factors that lead to chronic conditions. Therefore, implementing and evaluating programs that are aimed at promoting health and decreasing the prevalence of chronic diseases at worksites is very important. ^ Data came from existing data that were collected by IHS staff during employee biometric screenings at the company in 2010 and 2011. Data from employees who participated in screenings in both 2010 and 2011 were grouped into a cohort by IHS staff. ^ One-tailed t-tests were conducted to determine if there were significant improvements in the biometric measures of body fat percentage, BMI, waist circumference, systolic and diastolic blood pressures, total, HDL, and LDL cholesterol levels, triglycerides, blood glucose levels, and cardiac risk ratios. Sensitivity analysis was conducted to determine if there were differences in program outcomes when stratified by age, gender, job type, and time between screenings. ^ Mean differences for the variables from 2010 to 2011 were small and not always in the desired direction for health improvement indicators. Through conducting t-tests, it was found that there were significant improvements in HDL, cardiac risk ratio, and glucose levels. There were significant increases in cholesterol, LDL, and diastolic blood pressures. For the IHS program, it appears that gender, job type, and time between screenings were possible modifiers of program effectiveness. When program outcome measures were stratified by these factors, results suggest that corporate employees had better outcomes than field employees, males had better outcomes overall than females, and more positive program effects were seen for employees with less time between their two screenings. ^ Recommendations for the program based on the results include ensuring validity of instruments and initial and periodic training of measurement procedures and equipment handling, using normative data or benchmarks to decrease chances for biased estimates of program effectiveness, measuring behaviors as well as biometric and physiologic statuses and changes, and collecting level of engagement data.^

Crowding-out and Crowding-in Effects of Government Bonds Market on Private Sector Investment (Japanese Case Study)

This paper reviews the relationship between public sector investment and private sector investment through government expenditures financed by government bonds in the Japanese economy. This study hypothesizes that deficit financing by bond issues does not crowd out private sector investment, and this finance method may crowd in. Thus the government increases bond issues and sells them in the domestic and international financial markets. This method does not affect interest rates because they are insensitive to government expenditures and they depend on interest rates levels in the international financial market more than in the domestic financial market because of globalization and integration among financial markets.

Mixed Public-Private Enterprises in Europe: Economic Theory and an Empirical Analysis of Italian Water Utilities. Bruges European Economic Research (BEER) Papers 4/July 2006

Mixed enterprises, which are entities jointly owned by the public and private sector, are spreading all over Europe in local utilities. Well aware that in the vast majority of cases the preference of local authorities towards such governance structure is determined by practical reasons rather than by the ambition to implement new regulatory designs (an alternative to the typical “external” regulation), our purpose is to confer some scientific value to this phenomenon which has not been sufficiently investigated in the economic literature. This paper aims at proposing an economic analysis of mixed enterprises, especially of the specific configuration in which the public partner acts as controller and the private one (or “industrial” partner) as service provider. We suggest that the public service concession to mixed enterprises could embody, under certain conditions, a noteworthy substitute to the traditional public provision and the concession to totally private enterprises, as it can push regulated operators to outperform and limit the risk of private opportunism. The starting point of the entire analysis is that ownership allows the (public) owner to gather more information about the actual management of the firm, according to property rights theory. Following this stream of research, we conclude that under certain conditions mixed enterprises could significantly reduce asymmetric information between regulators and regulated firms by implementing a sort of “internal” regulation. With more information, in effect, the public authority (as owner/controller of the regulated firm, but also as member of the regulatory agency) can stimulate the private operator to be more efficient and can monitor it more effectively with respect to the fulfilment of contractual obligations (i.e., public service obligations, quality standards, etc.). Moreover, concerning the latter function, the board of directors of the mixed enterprise can be the suitable place where public and private representatives (respectively, welfare and profit maximisers) can meet to solve all disputes arising from incomplete contracts, without recourse to third parties. Finally, taking into account that a disproportionate public intervention in the “private” administration (or an ineffective protection of the general interest) would imply too many drawbacks, we draw some policy implications that make an equitable debate on the board of the firm feasible. Some empirical evidence is taken from the Italian water sector.

European regions in Brussels: towards functional interest representation? Bruges Political Research Papers 53/2016

Opportunities structures for participation in EU policy-making are characterised by the inefficiency of institutional channels of territorial representation and the progressive inclusion of broad civil society in new systems of consultation and cooperation with EU institutions. Recent Multilevel Governance literature has recognised an increasing convergence in strategies of territorial and functional actors to respond to these challenges. Nevertheless, it has neglected the partial shift of European regions from territorial institutional representation to lobbying strategies based on acting as intermediaries for functional interests. Through strong cooperation with the private sector, regions go beyond their purely institutional roles, partly presenting themselves as actors of functional representation and thus playing by the same rules of most lobbying actors in Brussels: providing specialised and genuine information to EU institutions in exchange for inclusion in the policy-making process.

Szemléletbeli dilemmák a Public-Private Partnership menedzsmentjében = Management dilemmas in Public-Private Partnership projects

A tanulmány a Public-Private Partnership (PPP) immanens logikai kihívásai közül két kiemelt kérdést elemez: az állami fél közszolgálati-közigazgatási beágyazottságából eredő dilemmákat, valamint az állami és a magánfél eltérő kulturális hátteréből eredő feszültségek jellemzőit. A PPP projektek gyakorlati megvalósítása szempontjából e két kardinális kérdés kifinomult elméleti hátterébe nyújt bepillantást. A közszolgáltatási dilemmák közül azonosítja és tárgyalja a jogszerűség vs. eredményesség, a hatékonyság vs. eredményesség, a centralizáció vs. decentralizáció, a közérdek vs. egyéni szabadságjogok védelme, valamint a kormányzat kicsinyítése vs. jogbiztonság védelme, és a vállalkozói szemlélet vs. közszolgálatiság közti egyensúlyozás kihívásait. Az állami és az üzleti fél kulturális különbözőségének központi motívumaként a döntéshozatalbeli különbséget ragadja meg, és a bizalom szerepét hangsúlyozza a működőképes modell megtalálásának lehetőségeként. = This study analyses two cardinal issues of Public-Private Partnership (PPP) projects’ immanent challenges: the management dilemmas of public services/governance, and the tensions between the private and public parties due to their different cultural imbeddedness. It provides theoretical insights into these two issues of practical relevance. As public service management dilemmas, it identifies the trade-offs between rights vs. effectiveness, efficiency vs. effectiveness, centralization vs. decentralization, protecting the public interest vs. individual freedom, minimizing government vs. protecting human rights, the entrepreneurial approach vs. public service ethos. The study captures the cultural difference between the public and the private parties in their different approaches to decision making, while it concludes that the role of trust is key in finding feasible solutions for PPP models.

A Public-Private Partnership Magyarországon– egy félreértés volt? (Public-Private Partnerships in Hungary – was it a mistake?)

Az elemzés a PPP (Public-Private Partnership) magyarországi felfutásának és visszaesésének izgalmas éveit tárja fel, amelynek alapján megállapítható, hogy a magyar gyakorlatban körvonalazódó PPP nem az a PPP, amely a nemzetközi tapasztalatok alapján a közfeladatok megvalósításának közgazdaságilag megalapozott eszköze lehetne. A szerző úgy gondolja, hogy nem a PPP-módszer elvetése a megfelelő válasz a létező hibákra, hanem alkalmazásának módján kell javítani, a fokozatosan halmozódó tapasztalatok értő felhasználásával. ______ Public-Private Partnership (PPP) has quickly become a well-known phenomenon in Hungary. Despite its proliferation in various areas of activities, and the fact that most of these projects are still running, interest for starting new PPP projects has ceased, and even the cancellation of the project has become an issue. My research objective was to understand better how the concept of PPP has been interpreted by the wider public, through the assessment of the projects appearance in the main economic newspapers. The analysis shows that what has been implemented as PPP projects in Hungary are conceptually different from what PPP as an economically justified concept substantiates. PPP seems to be a phenomenon grossly misunderstood in Hungary.

Private Club Financial Performance

This article reveals the median financial results for the club industry for 2011 using 24 financial ratios. The results are based on the submission of balance sheet and selected income statement numbers from 80 clubs. The ratios are reported as median results for the entire sample as well as the median results for the top and low performing clubs delineated by return on assets. The biggest differences between the two extreme groups of clubs are (1) average collection period, (2) operating cash flows to current liabilities and long-term debt, (3) fines interest earned, (4) fixed charge coverage ratio, (5) food and beverage inventory turnovers, (6) profit margin, (7) return on assets, (8) operating efficiency ratio, (9) labor cost percentage.