Public health and corporate social responsibility: exploratory study on pharmaceutical companies in an emerging market

Dănescu, Tatiana; Popa, Maria-Alexandra

doi:10.1186/s12992-020-00646-4

Cited by 24 publications

(24 citation statements)

References 32 publications

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“…Since 2016, companies listed on the BSE are required to disclose information on corporate governance through specific statements as proper reporting of governance practices significantly increases investor confidence [73].…”

Section: Corporate Governance and Business Performance Inmentioning

confidence: 99%

The Complexity of Interaction between Executive Board Gender Diversity and Financial Performance: A Panel Analysis Approach Based on Random Effects

2022

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This study examined the influence of the executive board of directors’ gender diversity on the financial performance of listed companies on the Bucharest Stock Exchange, for the period 2011 to 2019. The analysis of the composition and different characteristics of the board and the executive directors proved to be effective tools for corporate governance in countries with an emerging capital market. Therefore, a disclosure index on directors’ characteristics was used to moderate the interaction between gender diversity and financial performance, based on the theoretical framework provided by upper echelon theory. The study contributes to the enrichment of the literature both by using the composite indicator built by applying the multiway PCA method on panel data to express financial performance and by designing the ten EGLS panel models involving five financial indicators and two proxies for gender diversity. The results showed that there is a positive impact of the proportion of women on the executive board of directors on financial performance, measured through the composite index, ROA, ROE, and SOL. A statistically significant impact of gender diversity on financial performance was found only for SOL, in the case of the Blau index. Also, using the random-effects model to perform the panel data analysis, the results showed that a higher executive board size can be associated with better financial performance measured through the composite index, ROA, ROE, and EPS. Practical implications are significant for the board of executives’ composition, the complexity of the relationship with the board, and reshaping governance practices.

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Section: Corporate Governance and Business Performance Inmentioning

confidence: 99%

The Complexity of Interaction between Executive Board Gender Diversity and Financial Performance: A Panel Analysis Approach Based on Random Effects

2022

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“…Pharmaceutical firms interested in remaining in this area would be free to compete with any open approach, or to collaborate with such projects in return for agreements on any future profits that might be required to make the collaboration commercially palatable, or in return for benefits associated with public acclaim through corporate social responsibility 88 . We have recently seen such acclaim for investment in public goods with the significant contributions from the private sector towards COVID-19 vaccines, for example in the Oxford-AstraZeneca project.…”

Section: ) What Are the Risks Of This Approach?mentioning

confidence: 99%

There is no market for new antibiotics: this allows an open approach to research and development

et al. 2021

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There is an increasingly urgent need for new antibiotics, yet there is a significant and persistent economic problem when it comes to developing such medicines. The problem stems from the perceived need for a “market” to drive commercial antibiotic development. In this article, we explore abandoning the market as a prerequisite for successful antibiotic research and development. Once one stops trying to fix a market model that has stopped functioning, one is free to carry out research and development (R&D) in ways that are more openly collaborative, a mechanism that has been demonstrably effective for the R&D underpinning the response to the COVID pandemic. New “open source” research models have great potential for the development of medicines for areas of public health where the traditional profit-driven model struggles to deliver. New financial initiatives, including major push/pull incentives, aimed at fixing the broken antibiotics market provide one possible means for funding an openly collaborative approach to drug development. We argue that now is therefore the time to evaluate, at scale, whether such methods can deliver new medicines through to patients, in a timely manner.

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“…Regulatory channels are becoming more and more extensive [13], but the cost of surprise inspections is high, which is not conducive to the self-discipline of enterprises [14]. Compared with other national drug safety monitoring systems, China currently lacks postmarketing supervision of drugs [15], and drug enterprises have failed to fulfill their social responsibilities [16]. e establishment of a digital information platform is the future trend of drug enterprises supervision [17], and the government should play a more active role in further optimizing the decision-making process [18].…”

Section: Relevant Literaturementioning

confidence: 99%

Coregulation Supervision Strategy of Drug Enterprises under the Government Reward and Punishment Mechanism

Zhang

Zhu

2021

Complexity

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Considering the government reward and punishment mechanism and the collusion behavior between third-party testing agencies and drug enterprises, based on the coregulation information platform, this paper constructs an evolutionary game model of coregulation supervision, which involves the participation of local government, drug enterprises, and third-party testing agencies. The stable equilibrium points of each participant’s strategic choices are solved. The stability of the strategic combination is analyzed by Lyapunov’s first method, and MATLAB 2020b is used for simulation analysis to verify the influence of each decision variable on different players’ strategic choices. The results show that, firstly, the government-increased awards and penalties will promote the integrity of drug enterprises and noncollusion of third-party testing agencies, but it is not conducive to strict performance of regulatory responsibilities by the local government. Secondly, the provision of real drug test reports by third-party testing agencies to the coregulation information platform can supervise drug enterprises and restrict local government to perform its duty. Thirdly, the central government’s punishment to the local government’s dereliction of duty is significant to enhancing the robustness of drug enterprises’ integrity operation. Furthermore, reasonably setting rewards and punishments and perfecting the coregulation information platform will help form a coregulation pattern of government supervision, self-discipline of drug enterprises, and social supervision. Finally, drug quality is highly related to whether drug enterprises operate with integrity. Standardizing coregulation supervision of drug enterprises’ integrity operation is the key to ensuring the safety of the source of drug quality. Therefore, this paper enriches and expands the theoretical basis of the coregulation supervision of drug enterprises’ integrity operation and proposes corresponding countermeasures and suggestions.

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Public health and corporate social responsibility: exploratory study on pharmaceutical companies in an emerging market

Cited by 24 publications

References 32 publications

The Complexity of Interaction between Executive Board Gender Diversity and Financial Performance: A Panel Analysis Approach Based on Random Effects

The Complexity of Interaction between Executive Board Gender Diversity and Financial Performance: A Panel Analysis Approach Based on Random Effects

There is no market for new antibiotics: this allows an open approach to research and development

Coregulation Supervision Strategy of Drug Enterprises under the Government Reward and Punishment Mechanism

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