Search results

1 – 10 of over 111000
To view the access options for this content please click here
Article
Publication date: 8 June 2021

Ibe Ibekwe

The study examines how blockholding, blockholding nationality and multiple blockholder structures (MBS) are related to agency cost in Nigeria.

Abstract

Purpose

The study examines how blockholding, blockholding nationality and multiple blockholder structures (MBS) are related to agency cost in Nigeria.

Design/methodology/approach

Data sourced from the annual reports of 84 non-financial services firms listed on the Nigerian Stock Exchange (NSE) from January 1, 2008, to December 31, 2015, were analyzed using the hybrid model in Stata 15.

Findings

Blockholding showed a significant negative relationship with the expense ratio (ER) measure of agency cost at the between-firm level but not significantly related to asset utilization ratio (AUR). This result was driven more by foreign blockholding and concentration of control, which were negatively and significantly related to the ER. Concentration of control is negatively related to the AUR. Domestic blockholding and the number of blockholders were not significantly related to agency cost. Foreign-blockholder-firms had a significantly greater concentration of control (lesser contest for control) than domestic-blockholder-firms.

Practical implications

The findings suggest that foreign blockholding would be more effective in controlling agency costs in Nigeria. While the concentration of control (lesser contest for control) appears to be an efficient governance mechanism for reducing agency costs associated with expenses in Nigeria, it seems to exacerbate agency costs associated with asset utilization.

Originality/value

Previous researchers have not studied how foreign and domestic blockholding are related to agency cost. They also have not studied how MBS and the contest for control are related to agency cost and explain differences in the foreign/domestic blockholding-agency cost relationships in the Nigerian context.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

To view the access options for this content please click here
Article
Publication date: 4 June 2021

Kambalor Ramakrishna Jayasimha

The focus is on how agencies can mitigate client opportunism in an agency-client relationship (ACR), particularly during the agency selection stage involving a pitch. This…

Abstract

Purpose

The focus is on how agencies can mitigate client opportunism in an agency-client relationship (ACR), particularly during the agency selection stage involving a pitch. This paper aims to empirically investigate the moderating effects of organizational mechanisms (particularly informational cues) and the agency’s past behavior on client opportunism. In a moderated moderation, this paper tests the effects of calculative commitment, informational cue and agency’s past behavior on the main effect.

Design/methodology/approach

The research is in the context of ACR involving a pitch at the agency selection stage. A mixed-method approach is used. In depth interviews with senior level executives were used to design the experimental vignettes. The main study uses experimental vignettes in a survey.

Findings

The study finds the prevalence of client opportunism during the pitch. The study reveals a significant relationship between information asymmetry and client opportunism. The findings of the study support the effectiveness of organizational mechanisms in mitigating client opportunism. The findings indicate that a proactive approach such as using informational cues mitigates client opportunism as it signals to the client that the agency cares for its intellectual property. Clients also take a cue from agencies past behavior. Third-party complaints and voice complaint deters client opportunism. Moderated moderation reveals that the client’s calculative commitment impacts client opportunism.

Originality/value

The study is novel in empirically examining client opportunism during the agency selection stage involving a pitch. The study re-emphasizes that information asymmetry is the primary reason for client opportunism in ACR at the agency selection stage. The role of organizational mechanism and agency response in mitigating client opportunism is a welcome addition. Moderated moderation effects involving calculative commitment is a novel addition.

Details

Journal of Business & Industrial Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0885-8624

Keywords

To view the access options for this content please click here
Article
Publication date: 8 June 2021

Edward Jones, Bing Xu and Konstantin Kamp

This paper aims to examine whether agency costs predict disciplinary takeover likelihood for the UK listed companies between 1986 and 2015.

Abstract

Purpose

This paper aims to examine whether agency costs predict disciplinary takeover likelihood for the UK listed companies between 1986 and 2015.

Design/methodology/approach

Using survival analysis, the approach is to identify candidates for disciplinary takeover on the basis of Tobin’s Q (TQ), which is consistent with the approach advocated by Manne (1965). This study then examines how indicators of agency costs affect takeover likelihood within the set of disciplinary candidates.

Findings

This paper provides evidence of the effectiveness of TQ, rather than excess return, in identifying disciplinary takeover candidates. Takeover hazard for disciplinary candidates is higher for companies with higher levels of asset utilization and sales growth in particular. Companies with stronger agency problems are relatively less susceptible to disciplinary takeover.

Practical implications

Given the UK context of the study, where anti-takeover provisions are disallowed and when compared to findings of US studies, the results imply some support for the effectiveness of an open merger policy.

Originality/value

While the connection between takeover likelihood and the market for corporate control has been made in previous studies, the study adopts a more explicit agency theory framework than previous studies of takeover likelihood. A key component of the contribution follows from differentiating candidates for disciplinary takeovers from other forms of mergers and acquisitions.

Details

Review of Accounting and Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1475-7702

Keywords

Content available
Article
Publication date: 18 May 2021

Ann-Sofie Klareld

Maintaining infrastructures such as roads, bridges, railways and other civil constructions requires long term documentation that ideally should comprise a reliable…

Abstract

Purpose

Maintaining infrastructures such as roads, bridges, railways and other civil constructions requires long term documentation that ideally should comprise a reliable reflection of the physical structures. However, the Swedish Transport Administration (TRA) states that its documentation is currently inadequate and that new working method are needed. The purpose of this paper is to study how the agency is working to improve their recordkeeping, by taking a closer look at two new positions that now coordinate the delivery of documentation from the building process teams to the agency. What is their role and what challenges do they face with regard to creating, sharing and preserving records with other areas across the TRA? The study’s purpose is also to discuss the concept of the archive in the current environment and how existing archival theory can be applied to long term documentation.

Design/methodology/approach

The study used a case study method, as the aim was to explore and understand recordkeeping practices and theoretical implications, without seeking to generalize the findings outside the Swedish Government. Two positions – the delivering coordinator and the receiving coordinator – were chosen as relevant focuses, due to their function as links between departments in which it was previously indicated that creating and maintaining reliable recordkeeping was difficult and where organizational structure might challenge the traditional archival theory. Documents and reports from the agency were used as research material through documentary analysis and a questionnaire consisting of 10 questions was used to conduct semi-structured interviews with 10 coordinators at the agency.

Findings

Obtaining the correct documentation at the right time and of appropriate quality from contractors and entrepreneurs was difficult, despite detailed contractual rules and regulations identifying what should be delivered. The work of the coordinators was formally connected to the important tasks of creating, sharing and preserving records with other areas within the TRA, but in reality, the coordinators faced several difficulties due to expectations of their professional role, practices in information management between different departments and archives creation at the entire agency. The interviewees therefore had differing perceptions of what was meant by TRA’s “archive”: it was variously perceived as only including the registry; comprising only the records preserved by the archives department or encompassing only those records in the registry or in the agency’s business system/s. Findings indicate that the concepts of multiple provenances and the recordkeeping “single mind” might provide insights to better inform the recordkeeping principles needed to improve the current environment.

Research limitations/implications

The study was limited to the 10 interviewees in 2 roles, although there are more positions involved in handling records. Future studies may solidify or contest the different themes identified in the present paper, through interviews of those additional roles at the agency. This paper uses the Swedish concept of the archive as a point of departure in its analysis.

Originality/value

By increasing the knowledge about positions that are responsible for handling records at an agency, this paper can get a better understanding of how they affect the ultimate creation of archives. This will give Swedish public agencies and other organizations, better results when they are creating strategies to preserve reliable records for the future.

Details

Records Management Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0956-5698

Keywords

To view the access options for this content please click here
Article
Publication date: 5 May 2021

Sandra Walklate, Barry Godfrey and Jane Richardson

The purpose of this paper is to reflect upon the challenges posed for the ongoing implementation of multi-agency risk assessment conferences (MARACs) for police forces in…

Abstract

Purpose

The purpose of this paper is to reflect upon the challenges posed for the ongoing implementation of multi-agency risk assessment conferences (MARACs) for police forces in England and Wales during the 2020 pandemic.

Design/methodology/approach

This is rapid response research involving qualitative methods primarily online semi-structured interviewing with a sample of police domestic abuse leads in England and Wales.

Findings

The findings point to increased use of virtual platforms particularly for MARACs and that this has beneficial consequences both for the police and in their view also for victim-survivors.

Research limitations/implications

The findings reported here are from policing domestic abuse leads. More work needs to be done to explore the value of engaging in virtual MARACs for all the agencies concerned but also whether MARACs continue to be the best way to ensure the victim-survivor is kept in view.

Practical implications

The use of virtual platforms carries a range of practice implications for the future of MARACs for the foreseeable future. These range from ensuring attendance of the appropriate agencies to the range and frequency of meetings, to infrastructural support for all agencies to engage.

Originality/value

This is an original study funded by the Economic and Social Research Council examining police and court responses to domestic abuse during the covid-19 pandemic.

To view the access options for this content please click here
Article
Publication date: 18 May 2021

Aksel I. Rokkan and Sven A. Haugland

This paper aims to develop a theoretical framework based on transaction cost economics that identifies key factors shaping public agencies’ governance of supplier…

Abstract

Purpose

This paper aims to develop a theoretical framework based on transaction cost economics that identifies key factors shaping public agencies’ governance of supplier relationships and related performance implications.

Design/methodology/approach

The paper presents an extended transaction cost framework for research on public procurement (PP) with a corresponding set of propositions. Transaction cost theory and specific features of and challenges to the PP function identified in extant literature constitute the main elements of the framework.

Findings

This conceptual paper makes three sets of proposals. First, public agencies tend to rely on market governance of supplier relationships and when PP deploys non-market governance, such governance tends to be of a unilateral (vs bilateral) kind. Second, increases in purchasing competence and autonomy of PP and particularly if implemented in tandem, will reduce PP’s overreliance on market governance and increase PP’s use of non-market governance. Third, PP should perform better for less complex transactions – and when contracting complexity relates to safeguarding of specific assets rather than when complexity relates to environmental and behavioral uncertainty. Increases in competence and autonomy should increase PP’s performance, particularly for complex transactions.

Practical implications

Public agencies may be in a better position to align governance solutions with transaction complexities by developing their procurement competence, decentralizing procurement decisions and increasing the flexibility of national and international procurement regulations. Private companies selling to public agencies need to be aware of and able to adapt to PP practices such as extensive use of market governance and unilateral governance as the primary form of non-market governance.

Social implications

The paper discusses how public agencies can improve procurement performance through better alignment of governance of supplier relationships with transaction attributes and thereby increase the quality of public services.

Originality/value

The paper relies on a well-established theoretical perspective, enabling identification (and, potentially, correction) of governance misalignment in the public sector.

Details

Journal of Business & Industrial Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0885-8624

Keywords

To view the access options for this content please click here
Article
Publication date: 31 May 2021

Mahnaz Mansoor

Among the digital age players, one of the fastest-growing digital channels is social media. In the past few years, developing nations’ government entities and political…

Abstract

Purpose

Among the digital age players, one of the fastest-growing digital channels is social media. In the past few years, developing nations’ government entities and political parties started using social media platforms to broadcast important information regarding decisions made at the state level. Pakistan is among those countries. Therefore, this study aims to empirically investigate the impact of the government agency’s provision of quality information on social media in establishing trust among citizens of Pakistan in a government agency with an underlying mechanism of citizens’ perception about agency’s transparency and responsiveness along with moderating role of perceived government response on COVID-19.

Design/methodology/approach

Data was collected from 542 social media followers of the Associated Press of Pakistan (a government news agency) and was analysed using measurement and structural models by using SmartPLS 3.3.0.

Findings

Results revealed that the interactive effect of government response on COVID-19 and government agency’s provision of quality information on social media strengthens the association of government presence on social media with citizens’ perception of the agency’s transparency and responsiveness and their trust in the agency.

Practical implications

Furthermore, the current study will contribute to the body of knowledge regarding the government agency’s use of information and communication technology and the government’s resultant response on COVID-19.

Originality/value

An extensive study of the literature revealed a gap available regarding the mediatory role of the citizens’ perception about agency’s transparency and responsiveness in between the association of government agency’s provision of quality information on social media and citizens’ trust in the government agency. Also, to the best of the author’s knowledge, no study to date has investigated the moderating role of government response on COVID-19 in between the relationship of government agency’s provision of quality on social media and citizens’ trust in the government agency and their perception about agency’s transparency and responsiveness. Thus, the current study aimed to address these existing gaps in the literature.

Details

Transforming Government: People, Process and Policy, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6166

Keywords

Content available
Article
Publication date: 24 May 2021

Pankaj Chaudhary

The author examines the role of board structure and institutional investors in dealing with the agency issues for the Indian firms by taking the data of NSE-500…

Abstract

Purpose

The author examines the role of board structure and institutional investors in dealing with the agency issues for the Indian firms by taking the data of NSE-500 nonfinancial firms for the period 2010–2019.

Design/methodology/approach

The author applies dynamic panel data methodology to deal with endogeneity concerns prevalent in corporate finance variables.

Findings

The agency view is consistent with the board size in the context of India. The author observed that the board size has a harmful effect on agency cost. A larger board size may create a coordination problem, or CEO may find it easy to thrust his or her decisions on board. The author also noticed that firms should have sizeable institutional ownership, particularly pressure-insensitive investors, in equity as they can reduce agency-related issues.

Originality/value

This study focuses on one of the largest emerging economies, i.e. India.

Details

Asian Journal of Accounting Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2443-4175

Keywords

To view the access options for this content please click here
Article
Publication date: 30 April 2021

Thomas Scott and Charles Wellford

This paper addresses the clearance of aggravated assaults (AAs). Specifically, the authors consider variations in these clearances over time for large agencies and test…

Abstract

Purpose

This paper addresses the clearance of aggravated assaults (AAs). Specifically, the authors consider variations in these clearances over time for large agencies and test which crime, investigation and agency factors are associated with the likelihood of clearance by arrest or exceptional means. In doing this work, they seek to extend the understanding of how police can improve their investigations and ability to solve serious offenses.

Design/methodology/approach

Using case, investigative and organizational data collected from seven large police departments selected on the basis of their trajectory of index crime clearances, and measures of case characteristics, investigative effort and organizational best practices, this paper uses descriptive and inferential statistics to analyze AA investigations and case clearance.

Findings

Key findings include the following: trajectories of AA clearance vary across large agencies and covary with a measure of organizational best practices, and the relationship between investigative effort and case clearance can depend on organizational practices. The authors find that measures of investigative effort are either not related to case clearance or there is a negative association.

Research limitations/implications

Now that police researchers have a better understanding of AAs and their investigations, they need to test how this knowledge can be used to improve the quality of police investigations. Tests, preferably multi-agency randomized control trials, of new investigative strategies and organizational practices are needed.

Originality/value

This research is original in that it uses a multi-agency sample and crime, investigation and organizational measures to understand AA clearance.

Details

Policing: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1363-951X

Keywords

Content available
Article
Publication date: 6 April 2021

Valter Shuenquener de Araújo

The purpose of this paper is to debate on how to achieve, in countries that have invested in the North American model of the regulatory state, the greatest efficiency in…

Abstract

Purpose

The purpose of this paper is to debate on how to achieve, in countries that have invested in the North American model of the regulatory state, the greatest efficiency in creating norms for the organization of public and private activities in order to guarantee the autonomy and technical impartiality required for the proper functioning of regulatory agencies.

Design/methodology/approach

This paper describes the development of the legal framework regarding regulatory agencies in Brazil. The research was based on bibliographical data, media reports, and the Brazilian Supreme Court decisions.

Findings

The regulation dissemination through regulatory agencies in Brazil has given rise to a series of controversies concerning the limits of their performance and the extent of their technical discretion. According to the findings, it is concluded that these independent agencies should be guided by the following four pillars: (1) the legal rule of fixed-term in office; (2) the principle of lesser control intensity (deference) of the agency acts; (3) the prohibition of contingency of agencies’ budgetary resources; and (4) the prohibition of agency powers suppression. Otherwise, the institutional capacity of agencies will be diminished and their neutral action in technical matters will be compromised.

Originality/value

This paper shows how enhanced autonomy and technical impartiality can be useful for better regulatory governance in other countries, preventing them from suffering from the same problems that have occurred in Brazil.

Details

Public Administration and Policy, vol. 24 no. 1
Type: Research Article
ISSN: 1727-2645

Keywords

1 – 10 of over 111000