国家审计服务国家治理的理论分析与实现路径探讨——基于受托经济责任观的视角

国家治理是当今世界的重要议题。建立科学合理的治理结构和运用适当的治理机制以保证和促进国家治理目标的实现,已成为公共受托经济责任的重要内容。作为国家治理的重要组成部分,国家审计理应充分发挥审计功能,服务国家治理。本文基于受托经济责任观,在深入分析受托经济责任与国家审计以及受托经济责任与国家治理相互关系的基础上,从构建全新的公共受托经济责任报告体系,创新国家/政府审计对象载体;建立健全绩效管理制度、全面推进政府绩效审计;推进责任政府建立,进一步深化经济责任审计;构建并实施治理导向审计模式以及权力导向审计模式五个方面深入探讨了国家审计服务国家治理的实现路径。     

From precautionary inadequacy to participatory risk management

This paper examines the case of mobile telephone infrastructure as an example of a contemporary risk defined by a lack of scientific evidence and consensus as regards potential or future harm. This uncertainty has led to recourse to the precautionary principle at the European, national, regional and local level of EMF risk management. Local risk governance of mobile telephone infrastructures in Catalonia can be seen as an example of a socio-technical complex system linked to risk perception which highlights the limitations of the precautionary principle in a scientifically uncertain context. Active participation of stakeholders and the public in risk management arenas is required if current technocratic risk management strategies are to be superseded by transparent processes of decision-making in risk management spheres.     

Bank Corporate Governance,Beyond the Global Banking Crisis

Following up on the publication of the Walker Report ( 2009 ) in the United Kingdom, international organizations such as the Basel Committee ( 2010 ), the OECD ( 2010 ), and the European Union ( 2010 ) have proposed guidelines to improve bank corporate governance and, more specifically, risk governance. These international reports vary widely on what the prime objective of bank corporate governance should be, with one group recommending a shareholder‐based approach, and the other a stakeholder‐based one. Moreover, the focus of these reports is exclusively on risk avoidance, with little guidance as to how an acceptable level of risk should be defined. Drawing on insights from economics and finance, this paper is intended to contribute to the debate on bank corporate governance. Our four main conclusions are as follows. Firstly, the debate on bank governance should concern not only the boards but also the governance of banking supervision with clearly identified accountability principles. Secondly, since biases for short‐term profit maximization are numerous in banking, boards of banks should focus on long‐term value creation. Thirdly, board members and banking supervisors should pay special attention to cognitive biases in risk identification and measurement. Fourthly, a value‐based approach to risk taking must take into account the probability of stress scenarios and the associated costs of financial distress. Mitigation of these costs should be addressed explicitly in the design of bank strategy.     

职业年金制度风险及其整体性治理

在风险社会背景下,职业年金制度面临多重风险。基于风险的多样性与复杂性,应推进职业年金制度的整体性治理。整体性治理要求充分考虑职业年金受益人的权益,整合各类资源与机制,加强相关主体的协调与合作,防范职业年金制度风险。我国职业年金治理存在治理结构不科学、基金管理与投资体制不完善、风险控制机制建设不足、大数据和信息化手段运用不到位等诸多问题,增加了整体性治理的复杂性。对此,本文提出职业年金整体性治理的对策:加强法制建设与制度设计,完善治理结构,加强信息披露,建立监管体系、惩戒机制和风险防控机制,充分发挥大数据在职业年金治理中的作用。     

Public Satisfaction and the Capability,Integrity, and Accountability of Financial Regulators

Strengthening the accountability of government officials to achieve public satisfaction in democratic countries has been a crucial issue. We study the issue empirically using the concept of national governance based on a case study of the key Taiwanese financial regulator, namely, the Financial Supervisory Commission (FSC). This paper integrates theories of resource-based views, trust, and corporate governance to motivate the empirical analysis. The findings show that accountability is positively related to public satisfaction. Capability and integrity have a positive relation to the accountability of the regulator, suggesting that one of the most effective ways to get public satisfaction is to recruit staff with capability and integrity.     

比较视野中的商业银行公司治理模式及其借鉴

建立良好的公司治理结构是一个国家及其企业树立市场信心、吸引更多投资的重要手段。现代商业银行作为资金运营的企业特别是投融资的中介,其公司治理科学与否、运行是否有效,是商业银行构造合理的内部制衡机制和有效的内控制度,进而强化外部监管和信息披露,建立完善的产权制度的关键。本文在借鉴国外具有代表性的商业银行公司治理模式的基础上,提出了所有权分散化、推行问责制、完善信息披露制度、完善激励机制、加强风险防范及通过上市完善公司治理等进一步优化我国商业银行公司治理的对策和建议。     

Risk governance for infectious diseases: exploring the feasibility and added value of the IRGC-framework for Dutch infectious disease control

The quality of the Dutch system for control of infectious diseases is considered to be high. However, sometimes (e.g. during the Mexican flu and HPV vaccination in 2009, during the Q-fever outbreak from 2008 to 2011) the system encounters problems in terms of perceived effectiveness and public acceptance. This raises the question: Are other governance arrangements available that could contribute to a higher effectiveness and acceptance of infectious disease control? If so, how feasible are these arrangements in the light of the high time pressure in the case of an emergent outbreak of infectious diseases? In this paper, we explore the feasibility and added value of the International Risk Governance Council (IRGC)-framework. This framework aims to improve risk governance by tailoring the risk governance approach to the specific characteristics of the risk (the IRGC distinguishes between simple, complex, uncertain and ambiguous risks). Two recent infectious disease episodes – Q-fever and Schmallenberg virus (SBV) – were analysed. The actual risk governance approach was compared with a hypothesized situation, in which the IRGC-framework would have been applied. Data were collected by means of a review of literature, policy documents, newspaper articles and interviews with risk assessors and risk managers. This exploratory study revealed that Dutch infectious disease control incorporates many elements of the IRGC-approach, although some of these elements are used in an intuitive rather than in an explicit manner. Few elements are lacking. Incorporation of these elements (e.g. concern assessment) would have been both feasible and useful during the Q-fever epidemic (ambiguous risk), but not during the SBV outbreak (uncertain risk). We expect that primarily in cases of ambiguous infectious disease risks an explicit risk characterization and the further incorporation of concern assessment could strengthen Dutch infectious disease control. To assess whether a risk is (becoming) ambiguous remains a challenge to be operationalized.     

Obituary

The environmental risk associated with genetically modified organisms (GMO) implies that new approaches to risk assessment, risk management and risk communication are needed. In this paper we discuss the role of the precautionary principle in policy responses to GMO risk. We first discuss application of the criteria in the European Environment Agency report “Late lessons from early warnings: The precautionary principle 1896–2000” to environmental GMO risk, with focus on crop plants. Moreover, we discuss Bayesian analysis in the context of improving the informational basis for decision‐making under uncertainty. Finally, environmental uncertainties are intertwined with economic uncertainties. Providing incentives for improved risk assessment, risk management and risk communication is crucial for enhancing environmental and social responsibility and thereby facilitate implementation of precautionary approaches. We discuss environmental and social screening of companies as an example of how such incentives can be provided.     

From objective to constituted risk: an alternative approach to safety in strategic technological innovation in the European Union

Safety is a legitimate means of limiting technological innovation in our societies. However, the potential socio-economic impact of curtailing techno-industrial progress on the grounds of safety means that risk governance policies tend to restrict the range of legitimate approaches to safety on the principle that it can only be discussed in the frame of an allegedly objective scientific representation of risk. In European risk governance, socio-economic factors such as the underlying innovation rationales and goals are not openly considered to be related to the constitution of safety, but tend largely to be treated as factors of subjective reaction towards risk and technology. This paper seeks to overcome that approach by proposing a ‘constitutive’ understanding of how risk and socio-economic factors and dynamics relate, focusing in particular on the ‘safe and responsible’ development of nanotechnology in the European Union (EU). I argue that risk is constituted according to socio-economic considerations, and that the controllability of the environmental and health risks of nanotechnology in the EU is assumed on principle in the very strong institutional commitment to the industrial exploitation of nanotechnology R&D. Using a constitutive approach, we may legitimately conceive a broader set of potential safety scenarios, while at the same time highlighting major obstacles to implementing more critical constitutions of techno-industrial risk in the framework of a highly competitive knowledge-based global economy.     

A literature review on the relationship between risk governance and public engagement in relation to complex environmental issues

Abstract

Over the last two decades demands for greater public engagement have emerged in policy circles and academia, particularly when it comes to risk-related decision-making, or risk governance. However, the literature shows there is a lack of evidence when it comes to the impact of public engagement initiatives and significant questions remain over who to include, what processes to follow and what outcomes to expect. Furthermore, the literature exhibits contradictions in how researchers with different theoretical approaches attempt to answer these kinds of questions. This paper therefore proposes a systematic literature review in order to map the current breadth and variation in the literature and to identify any major variations from previous findings. A methodical search query has been applied to Scopus and Web of Science to search for academic articles. These were subsequently assessed for their suitability through a structured literature selection process. The results identify a number of methodologically different approaches in which knowledge on risk governance and public engagement has been developed. These diverse approaches are eventually grouped into clusters based on similarities in co-citations and references that are identified through bibliometrics and a subsequent content analysis. The proposed clusters have been labeled risk governance; environmental science, policy and governance; disaster risk management; science and technology studies; post-normal science; and public understanding of science. These six clusters are ultimately discussed and differentiated based on their main features which is particularly relevant for researchers and policy-makers seeking to get an understanding of, or broaden their disciplinary engagement with, risk governance and public engagement.     

A meta‐level analysis of major trends in environmental health risk governance

Internationally but also within countries, large differences exist regarding how environmental health risks (EHRs) are governed. Despite these differences, at a meta‐level some general trends can be discerned that may point to a convergence of EHR governance regimes. One, EHR governance regimes are increasingly taking into account cost‐benefit considerations, sectoral goals outside the health risk domain, public concerns and stakeholder interests in early stages of decision‐making. Two, EHR objectives are increasingly integrated in other, sectoral policies such as land use planning. Three, an increased differentiation of EHR standards is observed (partly as a consequence of the former characteristic). Still little systematic empirical research has been conducted on the dynamics in EHR governance regimes and their causes, on what EHR governance regimes have produced in terms of (perceived) risk reduction and on how these results can be explained. This paper proposes a systematic framework for analysing, explaining and evaluating shifts in EHR governance regimes. The framework in turn is applied to examine and understand the shift towards more integrated and differentiated EHR governance regimes.     

The impact of corporate governance on financial performance of Indian and GCC listed firms: An empirical investigation

Corporate governance plays a vital role in creating a corporate culture of consciousness, transparency, and openness. In this context, this paper provides a brief view about the background of corporate governance mechanisms in India and Gulf Corporation Council (GCC) countries, corporate legal system and monitoring policies laid down by Indian and GCC governments. Furthermore, it analyzes the impact of corporate governance mechanisms on the financial performance of Indian and GCC listed firms. The study uses a sample that consists of 53 non-financial listed companies from India and 53 non-financial listed companies from GCC countries for the period 2009–2016. Results revealed that board accountability (BA) and audit committee (AC) have an insignificant impact on firms' performance measured by ROE and Tobin’s Q. Similarly, transparency and disclosure (TD) have an insignificant negative impact on firms' performance measured by Tobin’s Q. Moreover, the country dummy results show that Indian firms are performing better than Gulf countries ones in terms of corporate governance practices and financial performance. The current study is considered as a battery for further research and studies particularly in India & GCC listed firms in the context of corporate governance and financial performance.     

Exploring governance of the new European Banking Authority—A case for harmonization?

In the context of the proposed EU financial supervisory reforms, this paper focuses on the governance of the network of national supervisory banking agencies and the newly established Community supervisor (European Banking Authority, EBA). We assess to what extent lack of governance convergence nationally and with EBA could undermine the incentives for cooperation among supervisors. Convergence should particularly focus on (i) the issue of the presence of politicians on decision-making bodies; (ii) the need for clearly defining dismissal procedures of heads of supervision; (iii) autonomy from government in regulatory matters; (iv) supervisory autonomy in matters of licensing and withdrawing licenses; (iv) mechanisms for judicial accountability; (v) legal protection for supervisors handling in good faith. In the absence of full centralization of prudential supervision, early harmonization of national governance arrangements towards best practice would better align supervisors’ incentive structures and, hence, be beneficial for the effectiveness of European supervision.     

基于主成份分析的上市公司治理水平体系构建

全球金融危机的爆发与蔓延突显出公司治理对风险防范的重要性,政府监管层、上市公司以及投资者自身都产生了对公司治理进行评价的客观要求。本文将公司治理体系分为股权结构、董事会治理、经理层治理、信息披露及透明度、伦理维度五个层面,运用主成份分析方法来寻求上述五个层面各代理变量的线性组合,构建了上市公司治理水平体系。     

Accountability and value enhancement roles of corporate governance

We examine the twin roles of accountability and value enhancement of corporate governance in the context of financial reporting. We investigate the accountability role by examining the association between governance structures and abnormal accruals, and the value enhancement role by investigating the association between abnormal accruals explained by governance structures and future performance. We differentiate between governance mechanisms that have direct roles in the financial reporting process (audit related) from mechanisms that have indirect roles (board related). We find that independent and active audit committees and independent boards are important governance attributes for financial reporting. We show that both audit‐related and board‐related governance structures are value enhancing.     

It’s been a pleasure doing business with you: a strategic analysis and critique of university change management

Universities have been undergoing major changes in scope of activities, structures, processes and relationships since late in the 20th century. This paper critically examines some of the dimensions of these changes, reflecting on the spectrum of environmental forces and internal resource pressures that have begun to transform many aspects of university governance core activities, stakeholder relationships and academic work. This Habermasian informed analysis and critique of major changes in university operations, reveals an array of globalised environmental disturbances that have directly impacted on university design archetypes including governance, accountability, decision-making and communication. The consequent impacts on the financial, educational and research subsystems are found to be extensive and have penetrated the interpretive schemes that constitute the university lifeworld. Commercial values are found to be usurping the previously dominant knowledge focussed values in universities. A re-engagement in discourse and bottom-up strategic management and processually based change orientation are offered as potential foundations for developing a bridge between the new managerialism and academics’ re-empowerment.     

Re-scaling risk governance using local appraisal and community involvement

This paper describes a risk governance model applied on a local scale, showing the advantages and constraints found during its application. The risk governance model, built on a municipal scale, results from the application of the International Risk Governance Council framework. The model is characterised by the cyclicity between the assessment and management spheres, assuming communication to be essential in all stages. Its application in central Portugal is rooted in a specific knowledge of hazards and their impacts, the human and financial constraints, and the expectations of citizens and stakeholders. The results show that preformatted management solutions derived from national civil protection stakeholders can be adapted to a local physical, social and institutional context. It was found that this depends significantly on the stakeholders’ concerns assessment, as this allows the subsequent risk management options to be adapted and legitimised. As a result, more appropriate land-use regulations and mitigation strategies are being designed, which are related to urban planning, road design, risk sensitisation and communication tools. However, two features are likely to lead to an overlapping of competences and conflicts concerning responsibility for decision-making in the actual civil protection structure: the current constraints on resources on an operational level and the potentially inadequate representation of stakeholders on a strategic level.     

从政治学视角论国家审计是国家治理中的“免疫系统”

国家审计是国家治理中的免疫系统这一观点是国家审计研究与政治学相结合的产物。国家审计是国家治理中免疫系统的一个子系统,其实质是一种权力制约行为,其职责更多的是一种对受托经济责任的检查与证明。基于此,审计工作重心的确立应以政治发展为基础,包括:维护好人民群众根本利益、满足国家治理中各方面审计监督需求、以财政审计为基点并不断扩展审计领域、维护法治建设和发挥权力制约功能。     

THE STATE OF U.S. CORPORATE GOVERNANCE: WHAT'S RIGHT AND WHAT'S WRONG?

Largely as a result of failures at Enron, WorldCom, Tyco, and other prominent American companies, U.S. corporate governance practices have come under attack. These much publicized failures and the resulting popular outcry have served as catalysts for legislative and regulatory changes that include the Sarbanes‐Oxley Act of 2002 and new governance guidelines from the NYSE and NASDAQ. But is the U.S. corporate governance system really as bad as critics suggest? And will the recent legislative and regulatory changes lead to a more effective system? The authors begin by noting that the broad evidence is not consistent with a failed U.S. governance system. During the past two decades, the U.S. economy and stock market have performed well both on an absolute basis and relative to other countries, even in the wake of the corporate scandals in 2001. Moreover, the most notable changes in U.S. corporate governance in the 1980s and 1990s‐including the institutionalization of U.S. share‐holders and the dramatic increase in equity‐based pay‐have served mainly (though not always) to strengthen the accountability of U.S. managers to their shareholders. The authors' message, then, is that while parts of the U.S. corporate governance system gave way under the exceptional strain created by the bull market of the 1990s, the overall system‐which includes corrective market forces as well as oversight by the public and government‐has reacted quickly and decisively to address its weaknesses. The net effect of the recent legislative and regulatory changes has been to make a good governance system an even better one. But, as the authors caution, perhaps the greatest risk now facing the U.S. financial market system (of which corporate governance is a critical part) is that of overregulation.     

Strategic Governance and Management Accounting: Evidence From a Case Study

This paper seeks to establish if top management (the board) of a firm should extend its overview of the governance process to the execution of strategy (i.e., strategic governance) and, if so, does the management accounting information system (MAIS) have a role in facilitating this strategy execution process. This study investigated the role of the board and MAIS in strategic governance by examining a company with a public record of both successful governance and integrated strategic management accounting processes in a high‐risk industry. The analysis demonstrates that boards should go beyond the minimum conformance (compliance) requirements of the governance‐regulatory legislation and assume ultimate responsibility for strategy execution and enterprise performance. However, while management accounting techniques, processes and reports were found to be used extensively in strategic governance to integrate the policy‐management interface in numerous conformance–performance domains, the traditional role of the management accountant was found to be limited in terms of their role in such governance. The study demonstrates that a more strategic governance role offers the management accountant a way back into senior management by using the routines of management accounting to socialize the board and curb any opportunism that may arise.