Incentives and targets in hospital care: Evidence from a natural experiment

Performance targets are commonly used in the public sector, despite their well known problems when organisations have multiple objectives and performance is difficult to measure. It is possible that such targets may work where there is considerable consensus that performance needs to be improved. We investigate this possibility by examining the response of the English National Health Service to high profile waiting time targets. We exploit a natural policy experiment between two countries of the UK (England and Scotland) to establish the global effectiveness of the targets. We then use a within-England hospital analysis to confirm that responses vary by treatment intensity and to control for differences in resources which may accompany targets. We find that targets met their goals of reducing waiting times without diverting activity from other less well monitored aspects of health care and without decreasing patient health on exit from hospital.     

On the determinants of UK unemployment and the Great Recession: analysing the gross flows data

This article provides a detailed analysis of the gross worker flows data in the United Kingdom between 1997 and 2010, with particular emphasis on the 2008/2009 recession and its aftermath. Utilizing flows data from the Labour Force Survey (LFS), the dominant macroeconomic factors driving unemployment in the United Kingdom before, during and after the recessionary period are identified. Amongst the salient findings of this article is a striking decline in job-to-job movements throughout and beyond the recent recession. This discovery adds a new dimension to the existing literature in this field.     

The Evolution of Human Sigma

Different quality management concepts, including Six Sigma, have been applied by many different types of organizations. Although much important work has been documented regarding Six Sigma, a number of questions remain concerning the applicability of these concepts in various organizations and contexts. Currently, limited research has been conducted on the Human Sigma approach. Therefore, the purpose of this article is to analyse the principles and philosophies of Human Sigma and its relationship to Six Sigma through a systematic review of the literature. It is suggested that this in turn will lead to a better understanding of the Human Sigma approach and ultimately bridge the gap in the literature. Therefore, the paper argues that much can be learned from the principles and practices of Six Sigma, however the discussion further provides an assessment of the Human Sigma principles and their potential suitability to tourism businesses. In particular, specific similarities and differences concerning areas such as methodologies, tools, and results are presented in this article.     

The role of strategic enterprise risk management and organizational flexibility in easing new regulatory compliance

The impact of new regulatory requirements for internal control reporting on an organization's ability to maintain strategic flexibility has been debated in the popular press extensively. This paper tests theory from strategic management to examine the relationship between an organizations' pre-regulatory strength of strategic enterprise risk management (ERM) processes and their ability to react to new regulatory mandates. In the context of companies' adoption of SOX Section 404 internal control reporting requirements, we examine organizations' pre-SOX ERM processes, ERM supporting technologies, and organizational flexibility in order to better understand the antecedents to the difficulty encountered in meeting SOX 404 requirements. Using responses from 113 Chief Audit Executives (CAEs), we find that organizations with stronger strategic ERM processes and flexible organizational structures already in place incurred little difficulty in implementing SOX 404 mandates. On the other hand, organizations using weaker ERM processes, which focused on control compliance, experienced more difficulty. These findings provide key insights into the importance of strategic ERM in effectively complying with new regulatory controls in volatile environments.     

LEGAL ENVIRONMENT,INTERNALIZATION, AND U.S. ACQUIRER GAINS IN FOREIGN TAKEOVERS

In examining takeovers of foreign targets by U.S. firms, we investigate the effect of the target country's legal environment on acquiring firm value. Our results indicate that acquirers of target firms located in civil law countries experience significant positive abnormal returns, especially when the acquirer possesses a high level of intangibles. Furthermore, we find that acquirers with high levels of intangibles are more likely to acquire target firms in civil law countries. These findings suggest that the transfer of intangibles overseas provides relatively larger efficiency benefits for multinational corporations in cases where the alternative, contracting in external markets, is more difficult.     

全国青花椒生产标准化示范区建设的思考

从全国青花椒生产标准化示范区建设背景谈起,概述了示范区项目建设的指导思想、建设原则和基本条件、建设目标、主要工作任务和建设步骤,提出了加快推进金阳县青花椒标准化示范区建设要建好示范核心基地,依靠科技支撑,加强服务体系建设,促进青花椒产业可持续发展等保障措施。     

Group-based pay-for-performance plans and firm performance: The moderating role of empowerment practices

As the popularity of group-based pay-for-performance plans persists, compensation researchers are exploring the conditions under which these plans contribute to the financial performance of firms. Based on a sample of 1,933 employees from 415 companies in South Korea, we found that group-based pay-for-performance plans enhance both objective and subjective measures of firm performance. Furthermore, consistent with the contingency perspective of fit, we found that empowerment practices positively moderate the relationship between group-based pay-for-performance plans and firm performance. These findings suggest that empowerment can enhance the effectiveness of such pay plans. We discuss implications for research and practice.     

发展林业产业是少数民族地区经济振兴的重要举措——对四川省金阳县发展青花椒产业情况的调查

从金阳县基本县情谈起,概述了金阳青花椒产业的发展现状和具体做法,分析了金阳县青花椒产业发展存在的问题,提出了今后青花椒产业发展坚持以科学发展观为指导,以市场需求为导向,以助农增收为目标,以技术创新为动力,全面推进青花椒产业快速、高效发展的思路和对策措施。     

The Value of Strategic Alliances in Acquisitions and IPOs

This paper investigates how firms’ strategic alliance experience affects their valuations as acquisition targets or in initial public offerings (IPOs). We propose that alliance experience serves as a valuable signaling device for opaque firms. The results show that takeover targets with alliance experience receive higher premiums than those without such experience. More recent alliance experience as well as alliances in the same industry also contributes to a larger target gain. Similarly, IPO firms that have alliance experience obtain higher valuations than those without the experience. Finally, alliance experience increases the likelihood that private firms exit by going public rather than being acquired.     

Is the grass on the other side greener? Testing the cross-border effect for U.S. acquirers

Why do U.S. acquirers fare worse when acquiring targets in foreign countries than when acquiring domestic targets? This paper investigates reasons for the so called “cross-border effect” by examining the influence of target public status and competitiveness of the takeover market in the target country. Our findings show that the listing status of the target drives the cross-border effect in two opposite directions: acquirers of private targets fare worse in cross-border takeovers, while acquirers of public targets experience significantly higher gains in acquisitions of foreign targets. The positive cross-border benefit for acquirers of public targets is more pronounced if the target is from a country with a less competitive takeover market.