Corporatization in the Public Sector: Explaining the Growth of Local Government Companies

The creation of companies by local governments to provide public services—referred to as “corporatization”—is an example of systemic public entrepreneurship that is popular across the world. To build knowledge of the antecedents of public sector entrepreneurship, the authors investigate the factors that lead local governments to create companies for public service delivery. Using zero-inflated negative binomial regressions to analyze secondary data from 150 major English local governments for 2010–16, the authors find that governments with higher levels of grant dependence and debt dependence are more involved in the creation and operation of companies, as are larger governments. Further analysis reveals that very low and very high managerial capabilities are strongly associated with more involvement in profit-making companies, while local government involvement in companies is more prevalent in deprived areas. At the same time, government ownership of companies is more common in areas with high economic output.     

作为一种新的立法理论的立法法理学

在法律与政治之间寻找平衡具有将两极引入法学研究的优点。我在本文中主张,直到最近仍然在法律思维中居支配地位的法律与政治间的分离,意味着无法寻求平衡,更谈不上公平处理。由于这种分离,立法这种法律创制活动一直不被认为是一个值得法律理论关注的适当主题。(Waldron1999b,2     

Big audit firms as regulatory intermediaries in transnational labor governance

Due diligence and corporate disclosure initiatives effectively expand the role of professional service firms as regulatory intermediaries in the governance of conditions of production in global supply chains. In this paper, we examine the rise of the “Big Four” audit firms in the market for services connected to transnational labor governance. Through a qualitative case study of audit firms in modern slavery governance, we argue that the Big Four's political repertoire for transnational labor governance expands beyond the roles that are typically linked to their services, and promotes an agenda that touches on key debates on what constitutes proper transnational labor governance. Big audit firms engage in a variety of informal and covert influencing practices and are shown to promote an agenda of incrementalist soft‐law labor governance, opposing concrete performance targets, binding public regulation and an independent watchdog role for civil society.     

Why are the French so different from the Germans? Underpricing of IPOs on the Euro New Markets

We study the underpricing of firms listed on the two largest EuroNM stock exchanges, the Neuer Markt of Germany and the Nouveau Marché of France. We find that the high underpricing in these two markets – contrary to the evidence on the US – is not driven by insiders’ selling behaviour. However, the large underpricing is caused by the high degree of riskiness of the issuing firms and by the partial adjustment phenomenon of offer prices to compensate institutional investors for the truthful revelation of their demand for the shares. For France, lock-up agreements act as substitutes to underpricing, but not so for Germany. We also explore the reasons for the large difference in underpricing between the German and the French IPOs: German firms are more underpriced because they are riskier, have larger price revisions, have less stringent VC lock-up contracts, and go public mostly during the hot issue period when the general level of underpricing in all IPO markets is substantially higher.     

Burdens of transparency: An analysis of public sector internal auditing

Transparency is largely seen as essential to public sector accountability. Yet, information disclosure also generates unintended consequences that may prove detrimental to the workings of some accountability processes. In this light, we investigate the views of Canadian public sector internal auditors, a subset of professionals fulfilling an important accountability function. We show that concerns surrounding disclosure requirements are prevalent. We demonstrate that internal auditors who see public disclosure requirements as a barrier to their effectiveness are more likely to be and/or perceive their organization to be risk averse, to feel professionally isolated and to favour a greater role for data analytics in accountability processes. However, auditors who would like to see their profession play a greater advisory role in their organization view public disclosure in a more positive light. We argue that understanding who is resisting helps identify threats to accountability mechanisms, improves the design of transparency policies and facilitates implementation.     

The EU and the international socialization of gender equality: a case study of Tunisia’s AFTURD and Women and Citizenship (WAC)

The paper explores the impact of EU democracy promotion in the area of gender in Tunisia. It corroborates and adds nuance to the claim found in previous literature that the EU finances those CSOs whose leadership already embraces gender equality. It shows that members of these CSOs are socialized to different degrees and the internalization of gender equality differs depending on age, gender and location. Already socialized members increased their levels of attachment and investment. New CSO members differed in their socialization outcomes. Some undergo a full internalization process, others develop attachment to some features, while they reject those ideas that do not resonate in their value system. Findings also show that the EU successfully fosters local ownership in project management.     

Restructurer peu,restructurer mieux : leçons d'expériences ministérielles récentes au Canada

Abstract: In this article, we take a look at restructuring initiatives involving functional departments. First, we review the documented reasons leading to the decision to restructure. Next, we compare recent restructuring activities in three Canadian provinces and at the federal government level. The examples used provide us with information on the reasons for engaging in the restructuring process, and its implications. The cases reported (all territories combined) reveal that some areas seem more problematic than others (for example, economic development, environment) – that is, they are the focus of more frequent restructuring, and the subsequent outcome is not always satisfactory. The reasons for explaining the restructurings point to the complexity of the file and government priorities. Furthermore, the consequences of the restructuring process fall into three main areas: implications at the administrative and budgetary levels (costs related to moving, printing, etc.), implications revolving around the department's direction (mission and vision), and implications on personnel (loss of employment, impact on employees' morale, etc.). On a practical level, the premiers must particularly avoid the restructuring of departments during Cabinet shuffles.