RESUMO
This study investigated the relationship between business strategy and financial structure in the U.S. hospital industry. We studied two dimensions of financial structure--liquidity and leverage. Liquidity was assessed by the acid ratio, and leverage was assessed using the equity funding ratio. Drawing from managerial, finance, and resource dependence perspectives, we developed and tested hypotheses about the relationship between Miles and Snow strategy types and financial structure. Relevant contextual financial and organizational variables were controlled for statistically through the Multivariate Analysis of Covariance technique. The relationship between business strategy and financial structure was found to be significant. Among the Miles and Snow strategy types, defenders were found to have relatively high liquidity and low leverage. Prospectors typically had low liquidity and high leverage. Implications for financial planning, competitive assessment, and reimbursement policy are discussed.
Assuntos
Administração Financeira de Hospitais/estatística & dados numéricos , Administração Hospitalar/estatística & dados numéricos , Contas a Pagar e a Receber , Estudos de Avaliação como Assunto , Pesquisa sobre Serviços de Saúde , Administração Hospitalar/economia , Planejamento Hospitalar/economia , Hospitais Comunitários/economia , Hospitais Comunitários/organização & administração , Investimentos em Saúde , Modelos Organizacionais , Análise Multivariada , Objetivos Organizacionais/economia , Estados UnidosRESUMO
Contingency theory suggests that for a hospital governing board to be effective in taking on a more active role in strategic management, the board needs to be structured to complement the overall strategy of the organization. A survey study was conducted to examine the strategies of acute care hospitals as related to the structural characteristics of their governing boards. After controlling for organizational size and system membership, results indicated a significant relationship between the governing board structure of 109 acute care hospitals and their overall business strategy. Strategy also accounted for more of the variance in board structure than either organization size or system membership. Finally, the greater the match between board structure and hospital strategy, the stronger the hospitals' financial performance.
