IPO effects: corporate restructuring when a firm goes public

The public affairs of a firm issuing an initial public offering (IPO) are a critical part of the corporate restructuring efforts which firms face during the process of going public. In this paper, Bowman and Singh's (1993) definition is used to illustrate how issuing an IPO is a significant form of corporate restructuring. Public affairs are critical during both the pre‐IPO phase and during the period leading up to the IPO, as the firm must negotiate a heavily institutionalised process to successfully complete the issue. Here, the six‐year life of ‘Deja News’ is used as a way to illustrate and explain the public affairs during the process of preparing for and issuing an IPO. Copyright © 2004 Henry Stewart Publications     

Do school accountability systems make it more difficult for low‐performing schools to attract and retain high‐quality teachers?

Administrative data from North Carolina are used to explore the extent to which that state's relatively sophisticated school‐based accountability system has exacerbated the challenges that schools serving low‐performing students face in retaining and attracting high‐quality teachers. Most clear are the adverse effects on retention rates, and hence on teacher turnover, in such schools. Less clear is the extent to which that higher turnover has translated into a decline in the average qualifications of the teachers in the low‐performing schools. Other states with more primitive accountability systems can expect even greater adverse effects on teacher turnover in low‐performing schools. © 2004 by the Association for Public Policy Analysis and Management.     

Risky Drinking and Driving/Riding Decisions: The Role of Previous Experience

Factors related to risky drinking and driving/riding decisions were explored by presenting vignettes to 135 older adolescents, 17–24 years of age, with vignettes related to drinking and other social behaviors engaged in at a party. Analyses revealed that alcohol-related behaviors, attitudes toward the acceptability of drinking and driving, and previous drinking and driving/riding experiences were all significant predictors of decisions about driving or riding while intoxicated. Indeed, the overall model accounted for 46% of risky drinking and driving/riding decisions. As predicted, older respondents had more previous experiences with driving while intoxicated and riding with intoxicated drivers than did younger respondents, and they reported that drinking and driving was more acceptable among their peers. However, contrary to expectations, there were no differences in the number of risky decisions made by the two age groups or between males and females. The importance of previous experiences is discussed.     

Give Us Your Tired, Your Poor, ... But Make Sure They Have a Green Card: The Effects of Documented and Undocumented Migrant Context on Anglo Opinion Toward Immigration

Although few controversies in our political environment are as contentious as the current debate over immigration policy, the research on public opinion toward immigration is quite limited. In particular, we know relatively little about the contextual determinants of opinions on immigration issues. We address this issue by investigating the impact of migrant context on Anglo opinions toward immigration. We find that Anglo support for increased immigration is directly related to the size of the documented migrant population. Conversely, as the relative size of the undocumented migrant population increases, Anglo support for increased immigration decreases. We conclude with a discussion of the relevance of our findings for the study of immigration opinion, in particular, and the study of intergroup relations more generally.     

Modeling Judicial Federalism: Predictors of State Court Protections of Defendants' Rights Under State Constitutions, 1969-1989

Drawing on data collected by Barry Latzer and using a logisticregression model that employs pooled time-series, this articletests a variety of factors for their impact on state high courtdecisions to diverge from U.S. Supreme Court criminal proceduredoctrines from 1969 to 1989. Several factors predict the developmentof independent state doctrines protective of civil liberties,including popular-vote retention elections and longer termsof office for state court justices, high court reputations,state wealth, and regional distinctions (with western courtsmost likely to advance individual rights). This study representsonly a small step in understanding an area of judicial behaviorthat has been long ignored in the political science literature.     

Contracting–out social services

Abstract: Despite the enormous share of social services in government spending and the strong incentives on government to rationalize services, the alternative service delivery (asd) literature has given little attention to social–service delivery. In our paper, we review current approaches taken to social–service delivery in Ontario by the Ministry of Community and Social Services (mcss). Although the mcss retains responsibility for the social–services system, it provides social services almost exclusively through private non–profit agencies under purchase of service contracts. Two themes emerge from our examination of these relationships. First, the standard privatization model has limited application to social–services delivery. Contracts are generally not awarded in a competitive fashion, and contract termination discipline is rarely applied. Given the inadequacies of current performance measures for social services, monitoring contract performance is difficult. Second, the success of attempts to shift provision to private non–governmental entities is intimately linked to the effectiveness of accountability mechanisms, especially outcome–based performance measures. Improving performance measurement is therefore an important priority. In addition to advocating further research into the effectiveness of social services, one interesting mcss initiative has been to look to client communities to help monitor the performance of agencies. We conclude that among the different institutional approaches to social–service delivery, contracting with non–profits is the one that currently seem most appropriate. Sommaire: Malgré la part énorme des dépenses gouvernementales consacrée aux services sociaux et malgré les efforts gouvemementaux pour rationaliser les services, les ouvrages publiés sur la prestation de services par des moyens de rechange n'ont consacré que peu d'attention à la prestation des services sociaux. Nous examinons dam cet article les méthodes adoptées pour la prestation des services sociaux en Ontario par le ministére des Services sociaux et communautaires (mssc). Même s'il retient la responsabilité du réseau des services sociaux, le mssc foumit les services sociaux presque exclusivement par I'intermédiaire d'organismes privés à but non lucratif, en vertu de contrats d'achat de services. En examinant ces rapports, nous en dégageons deux thémes. Premiérement, le modéle de privatisation standard ne s'applique que de maniére limitée à la prestation des services sociaux. Les contrats ne sont généralement pas accordés de maniére concurrentielle, et on n'utilise que rarement la résiliation de contrats en tant que mesure disciplinaire. II est difficile de surveiller la qualité d'exécution des contrats, vu l'insuffisance des mesures de rende–ment actuelles concernant les services sociaux. Deuxièmement, le transfert de I'exé–cution aux organismes privés non gouvernementaux ne peut réussir qu'en présence de mécanismes de responsabilisation adéquats, et en particulier de moyens permet–tant de mesurer le rendement en fonction des résultats obtenus. I1 importe donc d'améliorer les moyens de mesure du rendement. Selon le mssc, en plus des recher–ches suppéementaires concernant l'efficacite des services sociaux, il faut faire appel aux groupes de clients pour aider À surveiller le rendement des organismes. En conclusion, parmi les diverses méthodes institutionnelles de prestation des services sociaux, la sous–traitance faisant appel aux secteurs à but non lucratif semble çtre aujourd'hui la plus appropriwaee. [I]t is no exaggeration to say the state and local governments tend not to know what results their social service contracts are buying. Because competition is low, they have little opportunity to test the market to see what alternatives they have. Few resources are spent to look past what contractors themselves report. The political system has few incentives to dig deeper and many more incentives to maintain the status quo— The problems with oversight underline earlier observations: whatever advantages contracting–out for social services might produce, greater efficiency through market–tested competition is not one of them. State and local governments are engaging in the equivalent of a shopping trip while blindfolded, with little effort spent to squeeze the tomatoes or thump the watermelons     

The economic organization of legislatures and how it affects congressional voting

Congress confronts two major organizational problems that affect the behavior of legislators, party leaders, and groups doing business with congressional committees: The costly nature of monitoring and the absence of explicit mechanisms for upholding agreements. The problem of monitoring implies that party leaders will have a difficult time influencing decisions made in decision-making arenas where the actions of legislators are less visible, as in congressional committees. While legislators can evade leadership monitoring of their actions within committees, once an issue leaves a committee, the costs of monitoring decline, and leadership influence increases. The absence of mechanisms for assuring that legislators keep their bargains means that groups will place an emphasis on dealing with reliable legislators — those who can be counted upon to uphold their end of a bargain. Thus, party leaders are more effective in influencing floor voting because of their better ability to monitor legislator behavior; however, obligations to important interest groups will be more immune to leadership influence because of the incentives for committee members to adhere to their bargains.