Public-private partnerships (PPPs) have become popular worldwide as a way of improving health care service delivery. In order to enhance our knowledge of PPPs in the health care sector, we conduct a systematic review of forty-six articles published in peer-reviewed journals for the period of 1990-2011. Six lines of research in the PPP domain are identified: effectiveness, benefits, public interest, country overview, efficiency and partners. The main findings suggest that although PPPs are used to address internationally emerging public health issues, questions as to their actual effectiveness, efficiency and convenience, still remain unanswered. We propose viable recommendations and ideas for future research.
Purpose
The purpose of this paper is to examine the link between board of directors’ composition (independent directors’ ratio, board size, CEO-duality) and financial transparency and disclosure (T&D).
Design/methodology/approach
The paper analyzes board composition and financial T&D of Italian listed companies using multiple linear regression analysis.
Findings
The results of this paper show a significant link between board composition and the level of financial T&D. In particular, the authors found a positive and significant relationship between the independent directors’ ratio and the level of financial T&D and a negative relationship between board size and the level of financial T&D.
Research limitations/implications
While this paper focuses on a sample of 100 Italian listed companies, the authors acknowledge the importance of extending the results to other national context and to other type of firms (e.g. non-listed firms or SMEs). Moreover, while this paper concerns the amount of information disclosed by firms, it does not look at the quality or accuracy of disclosure.
Practical implications
This paper reveals the importance of evaluating the effectiveness of corporate governance mechanisms (such as board composition) in enhancing the level of financial T&D. Indeed, the authors provide some indications to firms to improve their internal governance mechanisms (e.g. the importance of high proportion of independent directors and of small- and medium-sized boards of directors).
Originality/value
This paper provides interesting insights to firms which are under pressure to improve the level of information to stakeholders. Moreover, has the level of information that is not legally required vary among companies and countries, the authors shed light on a context characterized by high level of ownership concentration, where firms can experience different types of conflict of interests.
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