Board Governance in Canadian Universities

In response to increasing fiscal pressure, Canadian universities have turned towards managerialism, that is, applying managerial tools of business with the objectives of improving operating efficiency, raising the institution's marketability, and generating commercial revenue. In addition to employing the services of professional administrators to enhance the institution's economic performance, universities appear to be switching from a collegial model of shared governance to a corporate model of governance. An objective of this exploratory study is to examine the current state of board governance in Canadian universities. Results of a survey from 133 board members of 28 universities indicate, by and large, that board members seem to have a good understanding of their roles and responsibilities. The boards are involved in setting strategic directions, goals, and objectives, and are making operating and capital resource allocation decisions. They are also monitoring the performance of the university and the president, and are involved in recruiting, succession planning, and determining the president's compensation package. The respondents report that the board committee structure and the support provided to board members allow them to discharge their responsibilities as board members properly. There is, however, room for improvement, especially in the board's participation in defining and reviewing the institution's strategic directions, plans, goals, and objectives, as well as monitoring the performance of the university and senior administrators. Other areas for possible improvement include continuing education on matters within the board's purview as well as providing better information for decision making to board members.     

Hope against Hope: Strike Activity in Canada, 1920-1939

The received view is that, across countries and time, strike dimensions trace an empirical regularity. The incidence and duration of contract strikes move in opposite directions over the business cycle: incidence is procyclical and duration countercyclical. The Canadian experience in the interwar years was different. Strike incidence was independent of the business cycle and strike durations fell steadily over the period. A distinct pattern emerged. The 1920s saw a decline in strike activity and steady losses for workers; in the 1930s strike activity gained momentum and there were more worker wins. Our interpretation of this extraordinary episode is based on a new data set collected for the period 1920 to 1939. We evaluate strikes in the context of a war-of-attrition model and estimate the probability of strike outcomes (success, failure, or compromise) and capitulation times (for firms and workers) as functions of firm and striker characteristics. We find that workers capitulated first in the 1920s because firms used replacement workers as part of a larger strategy to break the union movement. In the 1930s, it was firms' turn to capitulate first because they had cut back on resources to fight strikes, even as workers became more belligerent.     

The asymmetric effects of U.S. large-scale asset purchases on the volatility of the Canadian dollar futures market

This paper investigates the asymmetric effects of U.S. large-scale asset purchases on the volatility of the Canadian dollar futures market. This approach is innovative in so far as it examines the effects of allowing two-round impacts to differ in our settings of dynamic volatility with time-varying jump intensity because the world economic situation differs during periods of large-scale asset purchases. Utilizing the daily futures price of the exchange rate for the Canadian dollar against the U.S. dollar, the empirical findings show that U.S. large-scale asset purchases have significant asymmetric effects on the volatility of the Canadian dollar futures market. Two kinds of asymmetry are observed. Firstly, the impact of large-scale asset purchases is smaller in the first round of the large-scale asset purchases than in the second round. Secondly, an expansionary policy causes higher volatility in the Canadian dollar futures market than does a contractionary policy due to a signal of high liquidity.     

Corporate governance in publicly traded small firms: A study of Canadian venture exchange companies

Most evidence regarding the determinants and effects of corporate governance practices is based on large firms. Herein, we explore these issues in the context of small publicly traded Canadian companies. We exploit the fact that such firms were not subject to corporate governance guidelines prior to 2005 and thus analyze the determinants of voluntary governance practice choices, as well as the effects of those practices on firm performance. Using a unique data set, we construct a corporate governance index for each firm. We measure performance by two variables: quality of accounting earnings and financial performance. The results indicate that corporate governance does matter for smaller traded Canadian firms. We find that both accounting and financial performance are positively related to corporate governance; however, their underlying mechanisms may differ somewhat. Given this result, it would be natural to expect all firms to choose higher levels of governance. However, our results also suggest small firms face resource constraints that limit their choices. We conclude that good governance is an important driver of small firm performance that cannot be neglected by the owners and managers of these firms.     

加拿大与我国大学图书馆管理的比较及对策

本文通过对加拿大大学图书馆管理特点总结,比较分析了我国大学图书馆管理存在的问题,并从健全管理体系与制度,提高员工素质,实行多元化服务,加强网络资源建设,完善图书馆质量管理与员工绩效评价制度,持续改进工作质量方面提出我国大学图书馆管理对策。     

Combining DEA Window Analysis with the Malmquist Index Approach in a Study of the Canadian Banking Industry

The banking industry in Canada is essentially an oligopoly with five large participants controlling about 90% of the market. To evaluate the industry's performance over time, we need to deal with the problem of a small number of DMU's compared to the number of relevant inputs and outputs. To overcome this problem we use data envelopment analysis (DEA) window analysis, whereby efficiency scores for the 20 year period 1981–2000 are obtained. To measure productivity changes over time, Malmquist indices can be calculated from DEA scores. Using DEA window analysis scores, however, raise the question of how to define the same period frontier in a DEA window analysis. We show that for both the adjacent and the base period Malmquist index and for all suggested definitions of same period frontier, the standard decomposition into frontier shift and catching up effects gives inappropriate results when Malmquist indices are based on DEA window analysis scores.     

The Interface Between FDI and the Development of Natural-Resource-Rich Regions

Abstract

The purpose of this paper is to develop a theoretical framework for analysing the connections between foreign direct investments (FDI) and the development of the natural-resource-rich regions. In order to understand the link between FDI and regional development, we need to consider two perspectives at least: those of the investor companies and the developing region. The theoretical framework is built up from a combination of the eclectic paradigm (OLI framework) from international business and the Canadian Staple Theory (CST) from the discipline of economic geography. As it stands, the framework is encouraging in terms of promoting a better understanding of the context and content of inward and outward FDIs in resource-rich regions. This will be illustrated by means of two cases, the Ukrainian/Swiss investment (Donbass-Duferco) in the Hungarian iron and steel company Dunaferr in 2004 and the much-criticized Sakhalin-2 project of the Sakhalin Energy Investment Company (SEIC) in the oil and gas industry.     

Immigration and Chinese food preferences in the Greater Toronto Area

This paper presents important socio‐economic characteristics of Chinese Canadians in the Greater Toronto Area (GTA) and the impact of these characteristics and acculturation on their expenditure on and consumption of ethnic vegetables. These consumers purchase ethnic vegetables based on attributes such as quality, traceable production, versatility and language. The factors that predict expenditure on ethnic vegetables among Chinese Canadians are as follows: the percentage spent on food out of total monthly income, years spent in Canada and acculturation. The estimated demand per month for Chinese ethnic vegetables in the GTA is $CAD21 million. Meeting this demand with ever more locally produced vegetables will reduce ‘food miles’, enhance niche market production and facilitate greater agricultural sustainability in Ontario.     

The STARRT trial: a cost comparison of optimal vs sub-optimal initiation of dialysis in Canada

Abstract

Background:

Sub-optimal transitioning of patients from chronic kidney disease (CKD) to end stage renal disease (ESRD) may result in poor clinical outcomes and increased healthcare costs. The objectives of this study were to estimate the average total cost per patient who requires initiation of renal replacement therapy (RRT) stratified by status at initiation; optimal (RRT initiation as an outpatient with an arterio-venous [AV] Fistula, Graft or Peritoneal Dialysis [PD] catheter), and sub-optimal (RRT initiation as an inpatient and/or via central venous catheter [CVC]).

Methods:

Data from the Study To Assess Renal Replacement Therapy (STARRT), a Canadian, multi-centre, 6 month retrolective study (n?=?339), were used for this analysis. Unit costs for resources were obtained from participating hospitals, the literature, and/or standard costing sources. The analysis was performed from the perspective of healthcare payors and reported in 2011 Canadian Dollars (CAD). A propensity score technique was applied to control for potential confounders between the two groups.

Results:

Two hundred of the eligible patients for analysis (61.9%) were sub-optimally and 123 (38.1%) were optimally prepared. For this analysis, 106 “matched” pairs were used. The average total cost per patient was estimated to be $63,225 (with a 95% CI ranging from $58,663–$67,958) for the sub-optimally initiated patients, and $39,260 (with a 95% CI ranging from $35,683–$43,007) for the optimally initiated patients (p?<?0.001).

Limitations:

Costs were calculated utilizing a conservative approach, using the cheapest available prices for medications and other resources. Assumptions had to be made for the costing of dialyses.

Conclusion:

The results of this study indicate, after adjusting for potential confounders, that optimally initiated patients for RRT have significantly lower healthcare-associated costs compared to sub-optimally initiated patients.     

加拿大电力管理可鉴之处

介绍了加拿大电力事业有关情况.加拿大电力管理具有"政企分开、各省办电、公私结合、服务客户"的特点,市电力公司大部分为私营企业,自负盈亏.农电企业是民办私营,都是自主经营、自负盈亏、自我约束、自我发展的经济实体和市场经济竞争的主体.加拿大电力强调供电可靠性、依法管理和为用户服务.