Cumplimiento de Gobierno Corporativo: un Análisis para Empresas Familiares y no Familiares Colombianas / Corporate Governance Compliance: an Analysis for Colombian Family and Non-Family Businesses / Conformidade com a Governança Corporativa: uma Análise para Empresas Familiares e não Familiares na Colômbia

Resumen Introducción. Recientemente el estudio del gobierno corporativo en las empresas familiares ha recibido mayor atención debido al predominio, la importancia y el impacto de estas empresas y a los problemas de agencia que por su estructura se presentan. En este sentido, el gobierno corporativo puede ayudar a las empresas familiares a monitorear eficientemente la gestión para reducir comportamientos oportunistas tanto de los gerentes como de aquellos accionistas que controlan la empresa. Objetivo. Estudiar la relación que se presenta entre el carácter familiar y la adopción de prácticas de gobierno corporativo en empresas listadas en el mercado de valores de Colombia. Materiales y métodos. Se realizó un análisis cuantitativo con datos de panel. Los modelos de regresión fueron estimados mediante efectos aleatorios para tratar la heterogeneidad no observable y las variables omitidas. La muestra correspondió a 479 observaciones-año de 124 empresas listadas en el mercado de valores de Colombia entre 2015 y 2018. Resultados. Se encontró un menor cumplimiento en cuanto a gobierno corporativo en las empresas familiares. Conclusión. El menor cumplimiento en las empresas familiares puede deberse a que estas empresas tienen menores incentivos para implementar buenas prácticas de gobierno corporativo dado que los costos de dicha implementación superan a los posibles beneficios, sumado a que estos beneficios terminan diluyéndose entre todos los accionistas que hacen parte de la familia.

Abstract Introduction. Recently, the study of corporate governance in family businesses has received greater attention due to the prevalence, importance, and impact of these companies and the agency problems that arise due to their structure. In this sense, corporate governance can help family businesses efficiently monitor management to reduce opportunistic behaviors both from managers and those shareholders who control the company. Objective. Study the relationship between family nature and the adoption of corporate governance practices in companies listed on the Colombian stock market. Materials and Methods. A quantitative analysis was performed with panel data. Regression models were estimated using random effects to deal with unobservable heterogeneity and omitted variables. The sample corresponded to 479 observations-year of 124 companies listed in the Colombian stock market between 2015 and 2018. Results. Lower compliance with corporate governance was found in family businesses. Conclusion. The lower compliance in family businesses may be since these companies have fewer incentives to implement good corporate governance practices given that the costs of such implementation exceed the possible benefits, added to the fact that these benefits end up being diluted among all the shareholders that are part of the family.

Resumo Introdução. Recentemente, o estudo da governança corporativa em empresas familiares tem recebido maior atenção devido à prevalência, importância e impacto dessas empresas e dos problemas de agência que surgem devido à sua estrutura. Nesse sentido, a governança corporativa pode ajudar as empresas familiares a monitorar de forma eficiente a gestão para reduzir comportamentos oportunistas tanto dos administradores quanto dos acionistas que controlam a empresa. Objetivo. Estudar a relação entre o caráter familiar e a adoção de práticas de governança corporativa em empresas listadas na bolsa de valores colombiana. Materiais e métodos. Uma análise quantitativa foi realizada com dados em painel. Modelos de regressão foram estimados usando efeitos aleatórios para lidar com heterogeneidade não observável e variáveis omitidas. A amostra correspondeu a 479 observações anuais de 124 empresas listadas na bolsa de valores colombiana entre 2015 e 2018. Resultados. Observou-se menor conformidade com a governança corporativa nas empresas familiares. Conclusão. A menor conformidade em empresas familiares pode ser devido ao fato de essas empresas terem menos incentivos para implementar boas práticas de governança corporativa tendo em vista que os custos dessa implantação superam os possíveis benefícios, somado ao fato de que esses benefícios acabam se diluindo entre todos os acionistas que fazem parte da família.

Research on the innovative mode of corporate governance in public hospitals led by " party building" / 中华医院管理杂志

Establishing and perfecting the modern hospital management system is an important guarantee to promote the high-quality development of public hospitals. It is a significant and challenging task that how to integrate particular " CPC′s building" with " corporate governance structure" for improving the modern governance system of public hospitals in China. On the basis of bibliometrics and content analysis and with the practical experience of public hospitals in China, the authors summarized the logical relationship between modern management system and the framework of corporate governance system, initially constructed the innovative mode of " corporate governance" with the core of " party building" , and then reshaped the corporate governance structure of public hospitals in China. The results could provide reference for strengthening the party construction, establishing modern management system, and improving the corporate governance of public hospitals in China.

CEO Duality and Firm Value: Evidence from Mexico / Dualidad del CEO y valor de la empresa: evidencia de México / Dualidade do CEO e valor da empresa: evidências do México

ABSTRACT Regulators and corporate governance activists are lobbying companies to eliminate the CEO duality; however the effectiveness of this recommendation is questioned given that empirical evidence has found conflicting results. This document studied the effects of the CEO's duality on the value of the company in a sample of 104 Mexican companies that were publicly traded between 2000 and 2013. For this, different regression models were estimated using the ordinary least squares technique. The firm value was measured through Tobin's Q and ROA. Empirical results showed that there is no relationship between CEO duality and value after controlling for board characteristics such as size and independence. JEL CLASSIFICATION M10, G32, G34

RESUMEN Los reguladores y los activistas del gobierno corporativo están presionando a las empresas para que eliminen la dualidad del CEO, sin embargo, la efectividad de esta recomendación es cuestionada dado que la evidencia empírica ha encontrado resultados contradictorios. Este documento estudió los efectos de la dualidad del CEO en el valor de la empresa en una muestra de 104 empresas mexicanas que cotizaron públicamente entre 2000 y 2013. Para esto, se estimaron diferentes modelos de regresión utilizando la técnica de mínimos cuadrados ordinarios. El valor de la empresa se midió a través de la Q de Tobin y el ROA. Los resultados empíricos mostraron que no existe una relación entre la dualidad del CEO y el valor de la empresa después de controlar las características de la junta, como el tamaño y la independencia. CLASIFICACIÓN JEL M10, G32, G34

RESUMO Os reguladores e os activistas do governo das sociedades estão a pressionar as empresas para eliminar a dualidade do Presidente da Comissão Executiva, no entanto, a eficácia desta recomendação é posta em causa, uma vez que provas empíricas têm encontrado resultados contraditórios. Este documento estudou os efeitos da dualidade dos CEO no valor da empresa numa amostra de 104 empresas mexicanas negociadas publicamente entre 2000 e 2013. Para tal, foram estimados diferentes modelos de regressão utilizando a técnica dos mínimos quadrados comuns. O valor da empresa foi medido pelo Q de Tobin e o ROA. Os resultados empíricos mostraram que não existe relação entre a dualidade do CEO e o valor da empresa depois de controlar para características do conselho como a dimensão e a independência. CLASSIFICAÇÃO JEL M10, G32, G34

Normas vinculantes y no vinculantes en gobierno corporativo: un análisis para la asamblea de accionistas / Hard and soft law in corporate governance: an analysis for the shareholders' meeting / Normas vinculantes e não vinculativas na governança corporativa: uma análise para a assembleia de acionistas

Resumen Este estudio analizó la aplicación de algunas normas vinculantes y no vinculantes de gobierno corporativo en la asamblea de accionistas (frecuencia de las reuniones, antelación en la convocatoria, información previa entregada, decisiones sobre estatutos, dividendos y elección del revisor fiscal) en una muestra de 202 empresas colombianas obtenida a través de una encuesta respondida por correo electrónico. Se usó la prueba Z para comparar proporciones en la aplicación de dichas normas entre empresas familiares y no familiares y entre diferentes tipos de sociedades. Se concluye que los esfuerzos realizados por entidades que promueven el gobierno corporativo aún están lejos de tener una gran acogida en las empresas colombianas. Este trabajo plantea la necesidad de concentrar más y mejores esfuerzos para garantizar que las empresas cumplan al menos con las normas vinculantes, dado que dichas normas terminan siendo débiles en alguna de sus dimensiones (precisión de la norma, obligatoriedad en el cumplimiento, delegación para su interpretación e implementación en un tercero). De igual forma, es deseable mejorar los estándares de gobierno corporativo mediante la adopción de prácticas recomendadas en las normas no vinculantes, que en muchos casos son más rigurosas que la norma vinculante. Clasificación JEL: M10, G30, G34.

Abstract This study analyzed the application of some hard and soft law of corporate governance in the shareholders' meeting (frequency of meetings, advance notice in the call, prior information delivered, decisions on bylaws, dividends and election of the fiscal auditor) in a sample of 202 Colombian companies. The sample was obtained through a survey answered by email. The Z test was used to compare proportions in the application of these standards between family and non-family businesses and between different types of companies. It is concluded that the efforts made by entities that promote corporate governance are still far from having a great reception in Colombian companies. This work raises the need to concentrate more and improve efforts to ensure that companies comply at least with binding standards (hard law). given that these laws end up being weak in some of their dimensions (accuracy of the law, mandatory compliance, delegation for their interpretation and implementation in a third party). Likewise, it is desirable to improve corporate governance standards by adopting practices recommended in soft laws, which in many cases are more stringent than the hard law. JEL Classification: M10, G30, G34.

Resumo O estudo analisou a aplicação de algumas regras vinculantes e não vinculantes de governança corporativa na assembleia de acionistas (frequência das reuniões, aviso prévio na convocação, informações prévias prestadas, decisões estatutárias, dividendos e eleição do auditor fiscal) em uma amostra de 202 empresas colombianas obtidas por meio de uma pesquisa respondida por correio eletrônico. O teste Z foi utilizado para comparar proporções na aplicação desses padrões entre empresas familiares não familiares e entre diferentes tipos de empresas. Conclui-se que os esforços de entidades que promovem a governança corporativa ainda estão longe de ter uma grande receptividade nas empresas colombianas. Este trabalho plateia a necessidade de focar mais e melhores esforços para garantir que as empresas cumpram pelo menos os padrões vinculantes, dado que esses padrões acabam sendo fracos em algumas de suas dimensões (precisão de padrão, cumprimento obrigatório, delegação para sua interpretação e implementação em terceiros). Da mesma forma, é desejável melhorar os padrões de governança corporativa adotando práticas recomendadas em padrões não vinculantes, que em muitos casos são mais rigorosos do que a norma vinculante. Classificações JEL: M10, G30, G34.

Gobierno corporativo: ranking de empresas chilenas con mayor transacción en la bolsa de valores / Corporate governance: ranking of chilean companies with greater transaction in the stock exchange / Governança corporativa: ranking das empresas chilenas com maior transação na bolsa de valores

Resumen Introducción. Debido a los conflictos de interés, problemas de agencia, prácticas deshonestas y faltas a la responsabilidad social, en todo el mundo se han diseñado normas, estándares y reglamentos que pretenden resguardar los intereses de cada stakeholders, como consecuencia de una situación crítica que afecta la relación entre el principal y el agente. Objetivo. Esta investigación tiene como objetivo analizar las prácticas de gobierno corporativo de empresas chilenas que forman parte del IPSA4. Materiales y métodos. Se tomaron como referencia las declaraciones de las empresas sobre el nivel de cumplimiento de las NCG 341 y NCG 385. Ambas promulgadas por el SVS5, para lo cual se ha desarrollado un ranking de cumplimiento por rubro, empresa y práctica, dando paso a la determinación del efecto que provocó dicho cambio de marco regulatorio en el nivel de cumplimiento de las mismas. Resultados Entre algunos de los resultados, se puede mencionar el cambio significativo en la posición de AntarChile S. A. y SalfaCorp S. A. Conclusión. El bajo desempeño generalizado es debido a la rigurosidad de la nueva norma, provocando una disminución de 72% a 39% de cumplimiento.

Abstract Introduction: Due to conflicts of interest, agency problems, dishonest practices and lack of social responsibility, norms, standards and regulations have been designed worldwide to protect the interests of each stakeholder, as a consequence of a critical situation that affects the relationship between the principal and the agent. Objective: This research aims to analyze the corporate governance practices of Chilean companies that are part of IPSA. Materials and methods: Company statements on the level of compliance with NCG 341 and NCG 385 were taken as reference, both promulgated by the SVS, for which a compliance ranking has been developed by category, company and practice, giving way to the determination of the effect that this change of regulatory framework caused in the level of compliance with the regulations. Results: Among some of the results, we can mention the significant change in the position of AntarChile S. A. and SalfaCorp S. A. Conclusion: The generalized low performance is due to the rigor of the new standard, causing a compliance decrease from 72% to 39%.

Resumo Introdução. Devido a conflitos de interesse, problemas de agência, práticas desonestas e falta de responsabilidade social, no mundo todo tem se criado normativas, padrões e regra-mentos que pretendam proteger os interesses de cada stakeholders, como consequência de uma situação crítica que afeta a relação entre o principal y o agente. Objetivo. Esta pesquisa te como finalidade de analisar as práticas de governança corporativa das empresas chilenas que formam parte do IPSA. Materiais e métodos. Toma-se como referência as declarações das empresas sob o nível de cumprimento das NCG 341 e NCG 385. Ambas promulgadas pela SVS, para as quais uma classificação de conformidade foi desenvolvida por categoria, empresa e prática, dando lugar à determinação do efeito que provocou dita mudança de marco regulatório no nível de cumprimento das mesmas. Resultados. Entre alguns dos resultados, pode-se mencionar a mudança significativa na posição de AntarChile S.A. e SalfaCorp S.A. Conclusão. O baixo desempenho generalizado é devido à rigorosidade da nova normativa, provocando uma diminuição do 72% à 39% de cumprimento.

Feasibility Analysis and Path Choice of the Corporate Governance of Medical Alliance in China / 中国医院管理

The medical alliance,as a new exploration of the joint structure of medical institutions at present,can promote the sinking of quality medical resources and promote the integration of medical resources in the region.Medical governance is one of the most important way for medical reform in China.In the paper,the path choice of the corporate governance of medical alliance is explored,and the corresponding policy suggestions are proposed.

Explorations of the healthcare group reform: Edong Healthcare Group / 中华医院管理杂志

Edong Healthcare Group is cited as an example to introduce the founding background, and summarize its successful practices and outcomes in corporate governance, internal operation management mechanism, and optimized resources deployment within the group.Win-win mechanism is proposed as the key to a successful grouping reform, and further experiment with the hierarchical medical system is recommended for deeper reform in building groups of public hospitals.

Gobierno Corporativo. Prácticas sugeridas e implementadas por empresas familiares y no familiares colombianas

El objetivo de esta investigación es identificar las prácticas de gobierno corporativo implementadas por las empresas familiares y no familiares colombianas, en comparación con las recomendaciones de los códigos de gobierno. Se estudiaron 22 códigos de gobierno corporativo de 17 países, se identificaron las prácticas de gobierno corporativo comunes, posteriormente se diseñó una encuesta que fue aplicada a 202 empresarios y las respuestas se analizaron con la prueba Z. Los resultados revelan una alta concentración de poder en la primera generación de empresas familiares, debido a que el fundador no delega responsabilidades y funciones. La segunda generación y las generaciones posteriores tienden a comportarse más como empresas no familiares en temas relacionados con el gobierno corporativo. Futuras investigaciones deberán identificar cuáles prácticas de gobierno corporativo influyen en las organizaciones y en su desempeño.

The objective of this research is to identify the corporate governance practices applied by family and non-family businesses in Colombia in comparison with codes of corporate governance' recommendations. 22 corporate governance codes from 17 countries were studied, common practices of corporate governance were identified, then has been designed a survey, was applied to 202 employers and responses were analyzed using the Z test. Results reveal a high concentration of power in the first generation of family businesses because the founder does not delegate responsibilities and functions. Second and older generations tend to behave more like non-family businesses on issues related to corporate governance. Future research should identify which corporate governance practices influence in organizations and their performance.

O objetivo deste trabalho é identificar práticas de governança corporativa implementada pelas empresas familiares e não familiares colombianas em comparação com as recomendações dos códigos de Governança Corporativa. 22 códigos de governança corporativa de 17 países foram estudados. Práticas de governança corporativa comum foram identificadas, em seguida, uma pesquisa foi aplicada a 202 empresários e as respostas foram analisadas utilizando os Z teste. Os resultados revelam uma elevada concentração de poder na primeira geração de empresas familiares, porque o fundador não delega responsabilidades e funções. A segunda geração e as gerações posteriores têm comportamentos mais como empresas não familiar em questões relacionadas à governança corporativa. Pesquisas futuras devem identificar o que práticas de governança corporativa influenciar as organizações e seu desempenho.

Ongoing reform and thoughts of the corporate governance experiment at public hospitals in China / 中华医院管理杂志

Based on a review of literature and the current reform of public hospital corporate governance,such corporate governance is divided intocombined regulation and operation,anddivided regulation and operationmodels.Then the principal-agent theory was called into play to analyze the main problems and causes of the existing models.From the perspectives of government supervision and assessment,professionalization of hospital directors,market competition mechanism,thoughts were made on how to improve such corporate governance.

Optimal design of public hospital′s corporate governance model based on stakeholder theory / 中华医院管理杂志

Investigation of the corporate governance at the pilot areas along with literature review of the outcomes of corporate governance reform;reasonable definition of the authority-responsibility relationship of the stakeholders and the impact on the corporate governance model;optimization of public hospital′s corporate governance to recommend an optimal design of such hospitals.Interests demands of stakeholders were considered as a key factor in the design of such governance;roles of the stakeholders in such governance were enhanced,to clarify the distribution of ownership,decision-making power and management rights,with widened supervision and narrowed management radius.

Impact analysis of public hospital corporate governance on their public welfare / 中华医院管理杂志

Objective To explore the influence of corporate governance at public hospitals on their nature of public welfare,in order to provide reference for promoting the reform of public hospital corporate governance.Methods Hypotheses of such impacts were raised by means of literature review. 460 questionnaires were collected from site survey,and four factors of public hospital corporate governance were used as independent variables,and five factors of the public welfare performance as dependent variables,for a correlation analysis and multiple linear regression analysis.Results A clear correlation is found among medical service level,and decision-making mechanism,the mechanism of key employees recruit/evaluation/incentive and their constraints (P < 0.05 ).Completion status of public health services is significantly correlated with the mechanism of recruit/evaluation/incentive and constraint,and their supervision mechanism as well(P <0.05).Medical technology level and cost of medical services are significantly correlated with decision-making mechanism.Conclusions In consideration of public hospital corporate governance,such mechanisms as decision-making,supervision,recruit,evaluation,incentive and constraint for key employees play a key role for public welfare performance.It is recommended to promote the hospital corporate governance reform from the above aspects.

Corporate governance and proactive environmental management in Novo Hamburgo and neighbouring cities, Brazil

p>This study compiled data on environmental auditing and voluntary certification of environment-friendly businesses of the Commercial and Industrial Association of Novo Hamburgo, Campo Bom and Estância Velha and analysed them according to classical environmental management principles: sustainable development and corporate governance. It assessed the level of application of the concepts of corporate governance to everyday business in companies and organisations and estimated how the interconnection and vertical permeability of these concepts might help to make bureaucratic environmental management systemic, proactive and evaluative, changes that may add great value to the operations evaluated. Results showed that, when analysing only audited items not directly defined in legislation, no significant changes were identified. The inclusion of more advanced indices may promote the transition from bureaucratic management, which meets regulated environmental standards only satisfactorily, into proactive and systemic environmental management, which adds value to companies and helps to perpetuate them. Audited and analysed data did not reveal actions that depend on the internal redistribution of power and the interconnection or verticality of attitudes that may materialize concepts of corporate governance. /p>

p>O presente estudo é uma compilação dos dados resultantes das ações de auditoria ambiental da certificação ambiental voluntária empresa amiga do meio ambiente da Associação Comercial e Industrial de Novo Hamburgo, Campo Bom e Estância Velha, os quais são analisados, considerando as premissas mais clássicas da gestão ambiental, quais sejam, o desenvolvimento sustentável e governança corporativa. O objetivo é avaliar o nível de aplicação das concepções de governança corporativa no cotidiano das empresas, empreendimentos ou organizações e verificar o quanto a permeabilidade e imbricação vertical destes conceitos poderia auxiliar na transformação da gestão ambiental burocrática numa ação de gestão ambiental sistêmica, proativa e valorativa, trazendo maior valor agregado para as operações avaliadas. Os resultados demonstram que quando são analisados itens auditados que não estejam diretamente relacionados com legislação e sanções aplicáveis, não ficam claros os possíveis indicativos de melhorias de gestão e processos. A inclusão de indicadores mais avançados significaria a passagem de uma gestão ambiental burocrática, que atende apenas satisfatoriamente normas regulamentadas a uma gestão ambiental sistêmica e proativa, que possa trazer maior valor agregado e perenização aos empreendimentos. Todas as ações que depende mais de redistribuição interna de poder e imbricação vertical ou permeabilidade de atitudes que materializem concepções de governança corporativa não são identificadas pelos dados auditados e analisados. /p>

Corporate governance and proactive environmental management in Novo Hamburgo and neighbouring cities, Brazil / Governança corporativa e manejo ambiental pró-ativo em Novo Hamburgo e cidades vizinhas, Brasil

This study compiled data on environmental auditing and voluntary certification of environment-friendly businesses of the Commercial and Industrial Association of Novo Hamburgo, Campo Bom and Estância Velha and analysed them according to classical environmental management principles: sustainable development and corporate governance. It assessed the level of application of the concepts of corporate governance to everyday business in companies and organisations and estimated how the interconnection and vertical permeability of these concepts might help to make bureaucratic environmental management systemic, proactive and evaluative, changes that may add great value to the operations evaluated. Results showed that, when analysing only audited items not directly defined in legislation, no significant changes were identified. The inclusion of more advanced indices may promote the transition from bureaucratic management, which meets regulated environmental standards only satisfactorily, into proactive and systemic environmental management, which adds value to companies and helps to perpetuate them. Audited and analysed data did not reveal actions that depend on the internal redistribution of power and the interconnection or verticality of attitudes that may materialize concepts of corporate governance.

O presente estudo é uma compilação dos dados resultantes das ações de auditoria ambiental da certificação ambiental voluntária empresa amiga do meio ambiente da Associação Comercial e Industrial de Novo Hamburgo, Campo Bom e Estância Velha, os quais são analisados, considerando as premissas mais clássicas da gestão ambiental, quais sejam, o desenvolvimento sustentável e governança corporativa. O objetivo é avaliar o nível de aplicação das concepções de governança corporativa no cotidiano das empresas, empreendimentos ou organizações e verificar o quanto a permeabilidade e imbricação vertical destes conceitos poderia auxiliar na transformação da gestão ambiental burocrática numa ação de gestão ambiental sistêmica, proativa e valorativa, trazendo maior valor agregado para as operações avaliadas. Os resultados demonstram que quando são analisados itens auditados que não estejam diretamente relacionados com legislação e sanções aplicáveis, não ficam claros os possíveis indicativos de melhorias de gestão e processos. A inclusão de indicadores mais avançados significaria a passagem de uma gestão ambiental burocrática, que atende apenas satisfatoriamente normas regulamentadas a uma gestão ambiental sistêmica e proativa, que possa trazer maior valor agregado e perenização aos empreendimentos. Todas as ações que depende mais de redistribuição interna de poder e imbricação vertical ou permeabilidade de atitudes que materializem concepções de governança corporativa não são identificadas pelos dados auditados e analisados.

Issue analysis and coping strategy study of non-profit hospital management system / 基础医学与临床

Due to the deep-rooted structural problems of political and sanitary structures ,most methods and meas-ures of cure for public hospital are low efficient or none effective .Analysed the hospital background such as institu-tion,marketing and culture ,we should hold the tendency that hospital reforming didn't fit in with our country's situa-tion,it is important that the reforming become more systemcial and harmonized .Therefore ,we have to strengthen the governmental responsibility of public sanitation ,introduce a competitive mechanism ,promote the reform of property right, Drawing lessons and experiences from state-owned enterprise reform , we should explore a kind of standard modern management system which is suitable to non-profit hospitals in China .

Practice and thinking for developing professional directors of public hospitals / 中华医院管理杂志

The paper described the professional approach of Shanghai Hospital Development Center(SHDC)in developing a professional team of public hospital directors by such means as operation and management-autonomy,fixed tenures system,performance appraisal,part-time job control and income distribution. Recommendations raised include an organic unity of management functions of investors and power of management of the directors to motivate them in their management;building a comprehensive investor management system and strict cadre management mechanism to enhance supervision of the directors.

Corporate Governance in India “Evolution and Challenges”.

While recent high-profile corporate governance failures in developed countries have brought the subject to media attention, the issue has always been central to finance and economics. The issue is particularly important for developing countries since it is central to financial and economic development. Recent research has established that financial development is largely dependent on investor protection in a country – de jure and de facto. With the legacy of the English legal system, India has one of the best corporate governance laws but poor implementation together with socialistic policies of the performer has affected corporate governance. Concentrated ownership of shares, pyramiding and tunneling of funds among group companies mark the Indian corporate landscape. Boards of directors have frequently been silent spectators with Department of financial institutions’ nominee directors unable or unwilling to carry out their monitoring functions. Since liberalization, serious efforts have been directed at overhauling the system with the Securities and Exchange Board of India (SEBI) instituting the Clause 49 of the Listing Agreements dealing with corporate governance. Corporate governance of Indian banks is also undergoing a process of change with a move towards more market-based governance.

Building of mixed ownership hospitals based on corporate governance and policy analysis / 中华医院管理杂志

Based on the concept of hospital corporate governance,this article proposed to clarify the property ownership by the corporate governance,making it the cornerstone of building hospitals of mixed ownership.Furthermore,the authors also recommended the roadmap and policy support for such hospitals,policy analysis and suggestions to the construction of the mixed ownership hospitals,aiming at providing theoretical basis and reference to public hospital reform and the medical and health system reform.

Practice and insight of corporate governance structure at Jiangsu Kangfu Medical Group / 中华医院管理杂志

Establishing a corporate governance structure is an important goal in this round of public hospital reform.The “group plus corporate governance” model in Zhenjiang is highly typical and significant for building such a structure.This paper introduced the main measures of the group,analyzed the main problems found and proposed policies correspondingly.

Participación de los stakeholders en la gobernanza corporativa: fundamentación ontológica y propuesta metodológica / Participation of stakeholders in corporate governance: foundation ontological and methodological proposal

La participación en la empresa es un tema de larga trayectoria en la investigación sobre organización empresarial; sin embargo, por lo general, se ha reducido únicamente a los trabajadores y ha excluido los niveles más altos de gobierno corporativo. En las modernas empresas, el valor aportado por el capital es cada vez más reducido, y el riesgo, en muchas ocasiones, es compartido por el conjunto de stakeholders de la empresa. Si la aportación de valor y la asunción de riesgos no son exclusivos de los shareholders, ¿por qué los derechos de gobierno han de ser únicos para los shareholders? En este artículo se reflexiona sobre los fundamentos de la participación de los diferentes grupos de interés que componen la empresa. Se abordan los problemas vinculados a la instrumentalización de la Teoría de Stakeholders, y al agotamiento deductivo de la misma y se propone adoptar la perspectiva ontológica, así como un acercamiento práctico de carácter inductivo. La principal aportación del trabajo es ofrecer una guía metodológica en la que se resume la participación de los stakeholders en las organizaciones.

The participation in the company is a longstanding issue in research on business organization, but usually is explained around workers and not around the highest levels of corporate governance. In the modern businesses, the value contribution of capital is dwindling, and the risk, in many situations, is shared by all of the stakeholders of the company. If the added value and the assumed risk are not unique to the shareholders, why should be the government right unique for shareholder? In this paper we reflect on the foundations of the participation of different stakeholders that group the company. We debate the problems associated with the manipulation of Stakeholder Theory, and the depletion deduction of it; moreover, we propose to take the ontological perspective and a practical approach of inductive character. The main contribution of work is to provide a methodological guide which summarizes the participation in organizations of stakeholders.

Innovations of the management and operation mechanism at the University of Hong Kong-Shenzhen Hospital / 中华医院管理杂志

This article described the basics of the University of Hong Kong-Shenzhen Hospital and the practices of Shenzhen government to promote the comprehensive reform of public hospitals.The article also introduced the reform,on such aspects as hospital management structure,corporate governance,hospital operating mechanism,compensation mechanisms,service mode,staff training mechanism,and supervision mechanisms.In addition,it analyzed the benefits of these reforms and proposed policy changes.