Corporate governance in Spanish savings banks and its relationship with financial and social performance

Purpose: The purpose of this paper is to present empirical evidence about relationships between the corporate governance (CG) mechanisms of the Spanish savings banks, their financial and social performance and their profitability prior to their collapse. Design/methodology/approach: The authors use a structural equation model (SEM), taking the return on assets as the dependent variable, and CG, corporate social responsibility and efficiency as explanatory constructs. SEM methodology provides interesting features that allows a better definition of some organisational characteristics. Findings: Results indicate that CG characteristics, including the politicisation of governance bodies, did not affect the financial performance. The size of the board of directors had a significant influence on social responsibility. In addition, results suggest that the whole board focused on social issues, whereas non-executive members were less concerned about economic issues. Greater money allocation to social welfare programmes resulted in higher profitability, which can be explained by competitive advantages, reputation and customer satisfaction. Social implications: Nowadays, some political parties demand either for the creation of a public banking sector or banks with social goals. This paper provides interesting insights into the debate. Originality/value: The influence of personal attributes of board members on performance needs to be analysed in greater depth in the non-profit sector. The SEM methodology allows us to include some board attributes and performance dimensions in a better way than with other methodologies

The shattered glass ceiling and a narrowing gender pay gap in NHS foundation trusts: Gender and salaries of chief executives

Female chief executive officers (CEOs) of NHS foundation trusts have increased from 37% in 2012/13 to 47% in 2017/18. This paper shows that, in the five-year period analysed, the gender pay gap (GPG) has narrowed to become insignificant. The paper suggests the improvement of female presence and the narrowing of the GPG go hand-in-hand, at least for these public sector top managers. It also provides indication that the GPG is multifaceted, women may sacrifice high salaries for future financial security. Women and men could also be negotiating salaries in a different way, signalling gender traits differences. © 2019, © 2019 Informa UK Limited, trading as Taylor & Francis Group.IMPACT: For CEOs of NHS foundation trusts gender parity has been reached. In this context over a five-year period (2013–2018), salary differences between female and male CEOs have narrowed to an insignificant level. Results suggest that shattering the glass ceiling helps to reduce the GPG, and hence gender inequalities. However, the study also provides original insights into different components of the GPG: salary and pension benefits and the interplay of female risk aversion. Political leaders must take a wide perspective on pay when considering how to achieve their espoused aims of removing gender inequality

Boards of directors and performance in autonomous public sector entities

The adoption of business-like boards of directors in the public sector has to be evaluated in terms of financial and non-financial outcomes. This paper investigates, using a structural equation model, the relationship of certain board characteristics with the performance of English NHS foundation trusts. Larger and more independent boards do not harm performance. Having a woman chairing the board is related to better service quality. Boards seem to be more concerned about service quality issues than about financial problems. IMPACT A stakeholder approach when adopting boards of directors in public sector entities does not harm performance. The authors’ results provide a compelling rationale for the adoption of corporate governance mechanisms in the public sector and for improving the representativeness and status of women in the top positions of the governing bodies of public sector entities. Financial performance and service quality are not mutually exclusive in the healthcare sector. The paper provides insights to those public sector entities that have adopted, or are thinking about adopting, boards of directors to improve their governance and management

Financial Transparency in the Web 2.0 Era. An Analysis of the use of Websites and Social Media by Spanish Municipalities

The objective of this paper is to evaluate the role of websites and social media (SM) in increasing local government financial transparency. The research includes 60 Spanish municipalities classified into 4 population levels and combines quantitative and qualitative analyses: a website content examination; an exploration of the use of SM platforms; and an in-depth study of the content published in Facebook and Twitter over a one-year period. Results show that Spanish municipalities still have to make important efforts to increase their levels of financial transparency. Disclosures are mainly focused on budgetary information. The use of Facebook and Twitter by municipalities has become commonplace. However, their use for financial disclosures is underdeveloped. Most of the biggest cities have created open data portals although the disclosure of budgetary and financial datasets is limited. Municipalities have to make important efforts to comply with new demands and requirements for financial transparency. Measures should be taken to enhance transparency, particularly among medium and small municipalities. A definition of clear, structured, understandable and reusable information is needed in order to provide a common disclosure framework for public sector entities. (C) 2020 ASEPUC. Published by EDITUM - Universidad de Murcia. El objetivo de este trabajo es evaluar el papel de las páginas web y medios de comunicación social en el aumento de la transparencia de tipo financiero en las entidades locales. Esta investigación analiza 60 ayuntamientos clasificados en 4 niveles de población y combina análisis cuantitativos y cualitativos: un análisis del contenido de páginas web; una exploración del uso de medios de comunicación social; y un estudio en profundidad de los contenidos publicados en Facebook y Twitter durante un año. Los resultados muestran que los municipios españoles todavía tienen que realizar esfuerzos significativos para aumentar sus niveles de transparencia financiera. La información publicada se centra principalmente en cuestiones de tipo presupuestario. El uso de Facebook y Twitter por parte de los municipios está generalizado. Sin embargo, la utilización de estas plataformas para la revelación de información de tipo financiero está muy poco desarrollada. La mayor parte de los municipios de mayor tamaño han creado portales de datos abiertos, aunque la apertura de conjuntos de datos de tipo presupuestario o financiero es muy limitada. Los municipios tienen que realizar esfuerzos importantes para cumplir con las nuevas demandas y requerimientos de transparencia financiera. Deberían tomarse medidas para mejorar la transparencia, particularmente entre los municipios de pequeño y mediano tamaño. Asimismo, también se hace necesario definir qué se entiende por información clara, estructurada, comprensible y reutilizable para proporcionar un marco de revelación común para las entidades del sector público

Hospital emergency department utilisation rates among the immigrant population in Barcelona, Spain

<p>Abstract</p> <p>Background</p> <p>The recent increase in the number of immigrants of Barcelona represents a challenge for the public healthcare system, the emergency department being the most used healthcare service by this group. However, utilisation rates in our environment have not yet been studied. We aimed to compare emergency department utilisation rates between Spanish-born and foreign-born residents in a public hospital of Barcelona.</p> <p>Methods</p> <p>The <it>s</it>tudy population included all adults residing in the area of study and visiting the emergency department of Hospital del Mar in 2004. The emergency care episodes were selected from the Emergency Department register, and the population figures from the Statistics Department of Barcelona. Emergency care episodes were classified into five large clinical categories. Adjusted rate ratios (RR) of utilisation among foreign-born vs. Spanish-born residents were assessed through negative binomial regression.</p> <p>Results</p> <p>The overall utilisation rate was 382 emergency contacts per 1,000 persons-years. The RR for foreign-born versus Spanish-born residents was 0.62 (95% CI: 0.52; 0.74%). The RR was also significantly below one in surgery (0.51, 95% CI: 0.42; 0.63), traumatology (0.47, 95% CI: 0.38; 0.59), medicine (0.48, 95% CI: 0.38; 0.59) and psychiatry (0.42, 95% CI: 0.18; 0.97). No differences were found in utilisation of gynaecology and minor emergency services.</p> <p>Conclusion</p> <p>The overall lower utilisation rates obtained for foreign-born residents is consistent with previous studies and is probably due to the "healthy immigrant effect". Thus, the population increase due to immigration does not translate directly into a corresponding increase in the number of emergency contacts. The lack of differences in minor and gynaecological emergency care supports the hypothesis that immigrants overcome certain barriers by using the emergency department to access to health services. The issue of healthcare barriers should therefore be addressed, especially among immigrants.</p

Novel targets and future strategies for acute cardioprotection: Position Paper of the European Society of Cardiology Working Group on Cellular Biology of the Heart

Ischaemic heart disease and the heart failure that often results, remain the leading causes of death and disability in Europe and worldwide. As such, in order to prevent heart failure and improve clinical outcomes in patients presenting with an acute ST-segment elevation myocardial infarction and patients undergoing coronary artery bypass graft surgery, novel therapies are required to protect the heart against the detrimental effects of acute ischaemia/reperfusion injury. During the last three decades, a wide variety of ischaemic conditioning strategies and pharmacological treatments have been tested in the clinic - however, their translation from experimental to clinical studies for improving patient outcomes has been both challenging and disappointing. Therefore, in this Position Paper of the European Society of Cardiology Working Group on Cellular Biology of the Heart, we critically analyse the current state of ischaemic conditioning in both the experimental and clinical settings, provide recommendations for improving its translation into the clinical setting, and highlight novel therapeutic targets and new treatment strategies for reducing acute myocardial ischaemia/reperfusion injury

Epigenetic modulation of differentiation in CE44 teratocarcinoma

Teratocarcinoma is a mixed germ cell tumor histologically composed of embryonal carcinoma cells and embryonic and extraembryonic tissues. In the present work we have used the CE44 teratocarcinoma, which is a tumor cell line derived from the OTT6050 experimental tumor, to appreciate the influence the microenvironment has on the modulation of tumoral differentiation. For this, we have studied the development of CE44 teratocarcinoma in primary tumors (subcutaneous and intrasplenic) and in experimental metastases (hepatic and pulmonary). CE44 teratocarcinoma shows variations in its capacity for differentiation in so far as development is concerned and, in hepatic metastases, we noticed a reparative process of the intratumoral necrotic areas which in the same cases were substituted by loose connective tissue. Our results clearly suggest that the microenvironment is decisive in the biological behaviour of the teratocarcinoma cells and that epigenetic factors influence the capacity for differentiation of the undifferentiated tumoral cells

Electric and magnetic dipolar response of small dielectric particles: Scattering anisotropy and optical forces

We predict that real small dielectric particles made of non-magnetic materials present non-conventional scattering properties similar to those previously reported for somewhat hypothetical magnetodielectric particles

Identification and characterization of the dermal Panniculus carnosus muscle stem cells

The dermal Panniculus carnosus (PC) muscle is important for wound contraction in lower mammals and represents an interesting model of muscle regeneration due to its high cell turnover. The resident satellite cells (the bona fide muscle stem cells) remain poorly characterized. Here we analyzed PC satellite cells with regard to developmental origin and purported function. Lineage tracing shows that they originate in Myf5(+), Pax3/Pax7(+) cell populations. Skin and muscle wounding increased PC myofiber turnover, with the satellite cell progeny being involved in muscle regeneration but with no detectable contribution to the wound-bed myofibroblasts. Since hematopoietic stem cells fuse to PC myofibers in the absence of injury, we also studied the contribution of bone marrow-derived cells to the PC satellite cell compartment, demonstrating that cells of donor origin are capable of repopulating the PC muscle stem cell niche after irradiation and bone marrow transplantation but may not fully acquire the relevant myogenic commitment