Corporate governance (CG) is the set of rules and regulations through which organisations account to their stakeholders. An effective CG system promoting the efficient use of organisational resources is instrumental in the economic growth of a country. Based on the existing literature, this research identifies board structural features i.e., 'Board Independence', 'CEO Duality', 'Board Diversity', 'Number of Board Committees' and 'Audit Committee Independence' as key variables of an effective CG system. Previous studies have largely examined the direct relationship between CG systems and firm performance. This research develops a multi-theoretical model that links the Board structural characteristics with firm performance measured in Tobin's Q, Return on Assets and Return on Equity, via two crucial mediating variables, 'Board Size' and the 'Frequency of Board Meetings', and two additional moderating variables, 'Code of Corporate Governance' and 'Ownership Concentration'. The conceptual model that is developed is tested with the help of an econometric study based on a comprehensive set of balanced panel data of 265 companies listed on the Karachi Stock Exchange for a period of six years. The first panel (2009-2011) represents the time-period before the implementation of the revised Code, and the second panel (2013-2015) covers the time-period following the implementation of the revised Code. The results show that the Number of Board Committees (discussing strategic issues) is significantly related to performance and the 'Size of Board' significantly mediates the relationship between the number of board committees and performance. The relationship is also moderated by the Code of Corporate Governance and ownership concentration held by the largest shareholder. The results also show that the links between additional Board structural variables (board independence, CEO duality, board diversity and audit committee independence) and the financial performance are positive but not significant to draw conclusive result. Comparison between pre-and post-implementation of the revised Code of CG suggests that the intervening relationship between the board variables and the performance is stronger after the implementation of the revised Code. This research is a significant milestone in the country context of Pakistan that reflects the socio-economic set of several emerging economies. A key implication of this research is that the corporate sector in Pakistan needs to move away from the tick-box culture of CG. The sector needs to implement CG as a tool to mitigate business risks, appoint and empower non-executive directors to achieve an effective monitoring of management. The companies also need to establish their own ethical and governance principles applicable to the Board of Directors in order to deal with factors that are likely to reduce Directors' efficiency. The research offers new insights and conceptual framework for further research in this area.

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Yes / The purpose of this paper is to investigate the effect of corporate board attributes, ownership structure and firm-level characteristics on both corporate mandatory and voluntary disclosure behaviour. Multivariate regression techniques are used to estimate the effect of corporate board and ownership structures on mandatory and voluntary disclosures of a sample of Libyan listed and non-listed firms between 2006 and 2010. First, the authors find that board size, board composition, the frequency of board meetings and the presence of an audit committee have an impact on the level of corporate disclosure. Second, results indicate that ownership structures have a non-linear effect on the level of corporate disclosure. Finally, the authors document that firm age, liquidity, listing status, industry type and auditor type are positively associated with the level of corporate disclosure. Future research could investigate disclosure practices using other channels of corporate disclosure media, such as corporate websites. Useful insights may be offered also by future studies by conducting in-depth interviews with corporate managers, directors and owners regarding these issues. The evidence relating to the important role that corporate governance mechanisms play in shaping the expectations relating to the level of corporate voluntary and/or mandatory disclosures may be useful in informing investor decisions, as well as future policy and regulatory initiatives. This paper contributes to the existing literature by examining the governance-disclosure nexus relating to both mandatory and voluntary disclosures in both listed and non-listed firms operating in a developing country setting.

Drawing on multiple theoretical lenses, this research studies continuous transformation, or ‘morphing’, of a business process resource network (BPRN). The aim is to further our understanding of continuous organisational change at the lowest levels of analysis within an organisation: that is, at the resource level, and that resource’s relationships to other resources as they exist within a BPRN. Data was gathered from a single, in depth case study. Analysis was achieved by means of mapping BPRN evolution using ‘temporal bracketing’, ‘visual’ and ‘narrative’ approaches (Langley, 1999). The analysis revealed two mechanisms that appear to govern microstate morphing: bond strength and stakeholder expectation. In addition, four factors emerged as important: environmental turbulence, timing and timeliness of changes, concurrency of changes, and enduring business logic. An emergent model of microstate morphing which acknowledges the importance of socio-materiality in actor network morphogenesis (ANM) is presented. This study shows how effective relationships and configuration of resources within the BPRN can be achieved to facilitate timely, purposeful morphing. Five propositions are offered from the emergent ANM model. Specifically, these relate to the conditional operating parameters and the identified generative mechanisms for continuous organisational transformation within the BPRN. Implications for practice are significant. A heuristic discussion guide containing a series of questions framed around the ANM model to highlight the challenges of microstate morphing for practitioners is proposed. Two routes for future research are suggested: replication studies, and quantifying BPRN change in relation to an organisation’s environment using a ii survey instrument and inferential statistical analysis based on the ANM model features and propositions.

Over the past 25 years, health care organization scholars have observed the dramatic emergence of hospital-based clusters in local markets throughout the U.S. These important organizational forms require same-system ownership of multiple general, acute care hospitals operating within a single local market, and as such they include multi-hospital systems that are entirely contained in a single urban market as well as clustered extensions or subsystems of larger regional and national systems. However, despite their noted growth as powerful forces in local markets, relatively few studies have examined these clusters, and as a result there remains a significant gap in our knowledge regarding their continued growth or the diverse components and configurations they may exhibit. This study endeavors to both describe and explain the diversity observed across hospital-based clusters. To fulfill this objective, a national inventory of clusters is updated to reflect cluster membership as of 2012, and a catalog of cluster components – including their hospital-based and non-hospital-based sites – is created, acknowledging that clusters today consist of more than just general, acute care hospitals. Cluster analysis methods are then employed to develop a taxonomy of cluster forms, using a sample of 114 clusters from local markets in Florida, Maryland, Nevada, Texas, Virginia, and Washington. Applying a conceptual framework informed by concepts from contingency theory and strategic management theory, cluster analysis methods yield a five-group solution, which is then externally validated using a multi-theoretical perspective synthesizing arguments from population ecology, institutional theory, industrial organization economics, transaction cost economics, and resource dependence theory. Results from descriptive and multinomial logistic regression analyses identify organizational and environmental factors that are significantly associated with various cluster forms. The study’s results suggest that today’s hospital-based clusters continue to grow and vary according to the dimensions of differentiation-configuration and integration-coordination. These findings provide a foundation for future examinations of hospital-based clusters, including their provision of services within and outside of hospital walls. These results also accentuate the importance of accounting for geographic considerations when examining health care organization forms, and they display the utility and value of employing a multi-theoretical perspective to examine and explain such complex forms.

Drawing on multiple theoretical lenses, this research studies continuous transformation, or ‘morphing’, of a business process resource network (BPRN). The aim is to further our understanding of continuous organisational change at the lowest levels of analysis within an organisation: that is, at the resource level, and that resource’s relationships to other resources as they exist within a BPRN. Data was gathered from a single, in depth case study. Analysis was achieved by means of mapping BPRN evolution using ‘temporal bracketing’, ‘visual’ and ‘narrative’ approaches (Langley, 1999). The analysis revealed two mechanisms that appear to govern microstate morphing: bond strength and stakeholder expectation. In addition, four factors emerged as important: environmental turbulence, timing and timeliness of changes, concurrency of changes, and enduring business logic. An emergent model of microstate morphing which acknowledges the importance of socio-materiality in actor network morphogenesis (ANM) is presented. This study shows how effective relationships and configuration of resources within the BPRN can be achieved to facilitate timely, purposeful morphing. Five propositions are offered from the emergent ANM model. Specifically, these relate to the conditional operating parameters and the identified generative mechanisms for continuous organisational transformation within the BPRN. Implications for practice are significant. A heuristic discussion guide containing a series of questions framed around the ANM model to highlight the challenges of microstate morphing for practitioners is proposed. Two routes for future research are suggested: replication studies, and quantifying BPRN change in relation to an organisation’s environment using a ii survey instrument and inferential statistical analysis based on the ANM model features and propositions.

By using a natural experiment approach and longitudinal national hospital data, this study sheds light on the objective functions of hospitals with different ownership forms by comparing their relative reductions in HH provision after the implementation of the BBA. The empirical findings reveal that for-profit hospitals behave differently as compared to public and private nonprofit hospitals, due to their different operational objectives. While the response of for-profit hospitals is consistent with the profit-maximizer model, both public and private nonprofit ownership types behave consistently in accordance with the model of two-good producers whose objective is to maximize market outputs for meeting the health care needs of the community, given the break-even requirement. This finding provides support for the tax exemption the United States government has granted private nonprofit hospitals. Although the response patterns of the nonprofit ownership types are in general similar, this study found that, contrary to expectation, religious hospitals were more likely than secular nonprofit hospitals to have reduced HH provision after the BBA. Further studies are needed to explore the difference in operational behaviors between these two ownership types. Built on previous related studies and applying a more comprehensive set of independent and control variables with improved data sources, this study is able to examine the effects of certain organizational and market factors on hospital offering of HH care pre-BBA and the change in the provision of HH care in the six years following the implementation of the BBA. Hospital proportion of Medicare patients, hospital size, total profit margin, case mix index, elderly density in the market are found to be positive determinants of a hospital’s likelihood of offering HH care. However, these organizational and market factors, in general, play a non-significant role in influencing hospitals’ changes in HH care provision after the implementation of the BBA. In the study, explanations and implications of these finding are discussed. Finally, potential limitations to this study and opportunities for future research are addressed.