The influence of non-state-owned shareholder governance on the governance level of state-owned enterprises--Based on the perspective of board resolution behavior and party organization governance.

With an increasing number of heterogeneous shareholders participating in corporate governance in reality, the assumption of shareholder homogeneity in agency theory is gradually relaxing in the modern field of corporate governance. The policy of mixed ownership reform in China provides empirical evidence for studying heterogeneous shareholder governance. To fully understand the governance effects of non-state shareholders, we employ the ownership proportion held by non-state shareholders among the top ten shareholders and the appointment of directors as measures for non-state shareholder governance. Using a panel fixed-effect model from the perspective of state-owned enterprises (SOEs) party organizations, we examine the impact of non-state shareholder governance on the governance level of SOEs. The study reveals that non-state shareholder governance positively affects the governance level of SOEs, with board resolutions playing a crucial role in this relationship. When party members serve as directors, the governance effect of non-state shareholders is more significant. Based on the aforementioned research findings, we recommend further refining corporate governance measures for SOEs within the context of SOE reforms. It is advisable to optimize the party organizational governance structure and leverage the synergistic effects of non-state shareholder governance and party organizational governance. Advancing reforms along the Pareto improvement path will contribute to establishing a distinctive corporate governance system for Chinese SOEs.

Navigating board dynamics: Configuration analysis of corporate governance's factors and their impact on bank performance.

This research utilizes the fsQCA technique to investigate how a combination of corporate governance conditions or factors collectively influences the performance of banks. Examining key elements such as board size, busy directors, independent directors, CEO duality, and women on the board, the research employs data collected from the annual reports of 30 banks spanning from 2010 to 2020. The necessary condition analysis (NCA) underscores that no individual condition or factor is indispensable for the ultimate outcome. Nevertheless, the sufficiency analysis reveals distinct solutions, each representing a unique set of conditions or factors sufficient to generate the outcome. The study concludes that the relationship between corporate governance characteristics and bank performance is complex and multifaceted, with neither ROA nor ROE reliant on a singular input condition or factor. The theoretical contributions of the findings align with or partially support various theories and propositions within the realm of corporate governance. Notably, the application of fsQCA contributes to enhance the methodological understanding of corporate governance studies in existing literature.

Engaging Governance in Workforce Strategy and Performance.

This column is a call to action for health care leaders to ensure that their governing boards make workforce an important part of their governance responsibility and oversight. Health care leaders need to take an active role in educating their governing board, identifying and monitoring appropriate workforce metrics, and engaging the board in developing and implementing a workforce plan. Workforce development is an important leadership competency and essential to today's health care organizations success.

Analysis of Race and Ethnicity Among United States Medical Board Leadership.

Background: The inequitable representation of women and members of racial and ethnic minority groups in leadership positions within academic medicine is an ongoing challenge with practical and realistic solutions. The purpose of this study was to assess the race and ethnicity of individuals in leadership positions among the 24 Member Boards of Directors (Boards) of the American Board of Medical Specialties (ABMS). Methods: We performed a cross-sectional analysis of the race and ethnicity patterns for individuals holding leadership positions among the 24 Boards of the ABMS as of March 1, 2022. Two independent coders with 100% concordance recorded race and ethnicity using online biographies and photographs. Percentages were compared to the Association of American Medical Colleges (AAMC) 2018 data reports. Results: Among 449 director positions, 415 (92.4%) were physicians. Within the physician subset, 12.3% (51/415) Asian, 8.2% (34/415) Black, and 3.4% (14/415) Hispanic individuals were identified. Women who are members of racial and ethnic minority groups have less representation than men of the same race. Of 24 Boards, 37.5% (9/24) had no Asian women, 50.0% (12/24) had no Black women, and 75.0% (18/24) had no Hispanic women. White physicians were overrepresented on 14 of 21 (66.7%) Boards compared to the proportion of active White physicians or White individuals in the United States general population. Conclusion: Disparities exist for members of racial and ethnic minority groups, particularly women from these groups. As a leader in academic medicine, the ABMS should ensure its Boards are diverse with respect to gender, race, and ethnicity. Diverse groups often contribute unique insights that support medical education, advance science, and improve clinical care.

Stock price crash risk and military connected board: Evidence from Thailand.

Based on the agency and stakeholder theories, effective boards, acting as an internal governance mechanism, reduce agency costs. This paper asks whether military connected boards represent a good governance tool by exploring how military connected boards affect stock price crash risk. Using instrumental variable analysis, we document that firms with military connected boards have lower risk of stock price crashes. Our findings are unlikely to have endogeneity concerns and shed light on the role of military connected boards as an effective internal governance tool. Consistent with the conservatism hypothesis and stakeholder theory, by being transparent about firm-specific bad news, military connected boards could effectively monitor managers to ensure they act on all stakeholders' interests.

Aligning Healthcare's Mission With Corporate Social Responsibility Action.

Amid many challenges, health systems and hospitals are striving to improve the health of their communities with varying degrees of commitment. While many have recognized the importance of the social determinants of health, most have not responded aggressively to the global climate crisis that is sickening and killing millions of people worldwide-and getting worse. As the largest healthcare provider in New York, Northwell Health is committed to keeping our communities well in the most socially responsible way. That means engaging with partners to enhance well-being, expand access to equitable care, and take environmental responsibility. Healthcare organizations have a special obligation to broaden their efforts to prevent further damage to the planet and limit the human toll of that damage. For this to happen, their governing boards must support tangible environmental, social, and governance (ESG) strategies and put in place the administrative structures for their C-suites that are necessary to ensure compliance. At Northwell Health, governance is the engine that drives accountability for ESG.

ESG Expands the View of Corporate Stewardship in Healthcare.

At Advocate Aurora Health, the board of directors established parameters for effectively executing the governance (G) function related to ESG activities while adopting a comprehensive approach to ESG that includes the corporate commitment to health equity. Establishing a board diversity, equity, and inclusion (DEI) committee with external experts served to integrate these efforts with the ESG strategy. This approach will continue to guide the board of directors of Advocate Health, formed in December 2022, by the combination of Advocate Aurora Health and Atrium Health. Our experience has demonstrated that empowering individual board committee members of not-for-profit healthcare organizations to embrace their unique responsibility for driving ESG requires collective efforts in the boardroom as well as a commitment to board refreshment and diversity.

A Seat at the Table: An Examination of Hospital Governing Board Diversity, 2011-2021.

GOAL: Board diversity is increasingly important for hospitals and healthcare systems, with national attention focused on eliminating health disparities and improving health equity. Yet, it remains a challenge despite concerted efforts by leading professional associations (e.g., American College of Healthcare Executives) to galvanize their constituents around the importance of the issue. METHODS: This study used survey data from The Governance Institute to explore the ethnoracial and gender diversity of hospital boards spanning 2011 through 2021. PRINCIPAL FINDINGS: The results showed modest gains in the mean number of female board members, although a small proportion of hospital boards still have no female representation. There was little change in the number of boards with ethnic minority representation until an uptick in 2021, likely in direct response to high-profile racial incidents and protests. PRACTICAL APPLICATIONS: Intentional and sustained efforts are necessary to increase diversity and create a culture of inclusion that fosters meaningful engagement of diverse board members.