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Cost variability in medical treatments: A value based healthcare perspective
No full textHealthcare sector faces rising expenditure
Pharmaceutical net price transparency across european markets: Insights from a multi-agent simulation model
No full textWith pharmaceutical health policy striving for fair and sustainable pricing under increasing budgetary pressures, public stakeholders are more and more willing to be involved in transparent access decision-making related to novel medicines, considered by them to be a societal good. Full net price transparency (NPT) is believed by many to promote price competition and to increase equity by making pharmaceutical products accessible to all. Using agent-based simulations, we find that a full NPT system implemented across EU countries would not be viable. This while, acting as rational economic agents, a group of middle- and lower-income countries would not be willing to give up their confidential agreements with the pharmaceutical industry. Even partial NPT would delay access predominantly in middle- to lower-income countries. Hence, we conclude that implementing net price transparency across Europe would be challenging to reach from a political perspective. Especially in lower-income countries there would remain a plea to be left free to negotiate confidential discounts with drug manufacturers. This while, counterintuitively, in those countries NPT will be seen to be unjust while violating Ramsey pricing and distributive justice principles
A close look at scope 3 emissions. What are companies reporting?
No full textSince 2001, as a means of gauging a full picture of a company’s carbon footprint (see Figure 1 below), the Greenhouse Gas Protocol has divided greenhouse gas (GHG) emissions into 3 different Scopes. Scope 1 consists of GHG emissions generated during the course of the company’s main business operations (e.g., the emissions associated with a vehicle’s assembly line). Scope 2 emissions are the GHG emissions incurred by a firm through the purchase of the electricity required for its operation. Finally, Scope 3 emissions account for indirect emissions generated by suppliers, partners, and customers along a company’s value chain. This definition of Scope 3 emissions is intentionally broad, which means that it usually consists of more than 70% of a company’s total emissions profile. Despite the significance of this figure, Scope 3 emissions reporting is lagging far behind that of the other scopes. According to the WWF, this relative scarcity of Scope 3 reporting is due to several unique challenges that arise from the fact that, by design, Scope 3 emissions lie outside the direct management of a company’s leadership. This does not mean that companies have no influence over their Scope 3 emissions. In fact, these challenges represent a unique opportunity for businesses to engage with value chain partners, rethink their business operations, and streamline their emissions reporting methodology
When anger and happiness generate concessions: investigating counterpart’s culture and negotiation intentions
No full textPurpose Drawing from the emotions as social information theory, this paper aims to investigate the differential effects of emotions in inter vs intracultural negotiations. Design/methodology/approach The authors used one face-to-face negotiation and two experimental scenario studies to investigate the influence of emotions (anger vs happiness) and negotiation type (intercultural vs intracultural) on concession behavior. Findings Across the three studies, the results consistently show that angry opponents from a different national culture obtain larger concessions from negotiators. A face-to-face negotiation shows that happy opponents from the same culture are able to obtain larger concessions from negotiators. Additionally, the negotiator’s intentions to compromise and yield mediate the relationship between the interaction of emotions and counterpart’s culture on concessions. Research limitations/implications Two limitations are that the studies were conducted in a single country and that they use different types of role-playing designs. The empirical implications provide evidence of the moderating effect of the counterpart’s culture on the effect of anger on concessions. Then, providing two different mechanisms for concessions. Practical implications The research helps global negotiators who face counterparts from different nationalities. It suggests that these negotiators should be mindful of their counterpart’s emotions in intercultural negotiation as anger seems to generate more concessions in this setting. Originality/value The article is among the first studies to show that the combination of the counterpart’s culture and emotions has an effect on concessions in negotiation. Compromising and yielding are mediating mechanisms for this moderated effect. As opposed to previous studies that use one type of research design, the research combines face-to-face and scenario methodologies to test the predictions
Academy of Management Proceedings
No full textChallenges of climate change have become one of the most critical problems for society. Governance scholars show increasing interest in understanding how internal and external corporate governance actors shape firm-level environmental sustainability. Moreover, effects of corporate governance actors at multiple levels such as the individual, team, firm and supra-firm level are critical in shaping firm-level environmental sustainability. We review the literature over the period from 1992 to 2021 to identify corporate governance actors' motivation, expertise and power required to shape firm-level environmental sustainability. Doing so, we highlight the theoretical mechanisms suggested in the extant stock of literature to examine the interfaces between levels in a multilevel synthesis. On the basis of this synthesis, we identify strengths and shortcomings in current knowledge. We present a future research agenda that identifies relevant gaps at single levels and calls for integrative research focusing on how internal and external corporate governance actors influence one another. Therefore, this study provides a conceptual basis for combining existing knowledge of corporate governance actors' multi-level effects in shaping firm-level environmental sustainability
Variability drivers of treatment costs in hospitals: A systematic review
No full textOBJECTIVES: Studies on variability drivers of treatment costs in hospitals can provide the necessary information for policymakers and healthcare providers seeking to redesign reimbursement schemes and improve the outcomes-over-cost ratio, respectively. This systematic literature review, focusing on the hospital perspective, provides an overview of studies focusing on variability in treatment cost, an outline of their study characteristics and cost drivers, and suggestions on future research methodology.
METHODS: We adhered to the Preferred Reporting Items for Systematic Reviews and Meta-Analyses and Cochrane Handbook for Systematic Reviews of Interventions. We searched PubMED/MEDLINE, Web of Science, EMBASE, Scopus, CINAHL, Science direct, OvidSP and Cochrane library. Two investigators extracted and appraised data for citation until October 2020.
RESULTS: 90 eligible articles were included. Patient, treatment and disease characteristics and, to a lesser extent, outcome and institutional characteristics were identified as significant variables explaining cost variability. In one-third of the studies, the costing method was classified as unclear due to the limited explanation provided by the authors.
CONCLUSION: Various patient, treatment and disease characteristics were identified to explain hospital cost variability. The limited transparency on how hospital costs are defined is a remarkable observation for studies wherein cost variability is the main focus. Recommendations relating to variables, costs, and statistical methods to consider when designing and conducting cost variability studies were provided
The joint replenishment problem: Optimal policy and exact evaluation method
No full textWe propose a new method to evaluate any stationary joint replenishment policy under compound Poisson demand. The method makes use of an embedded Markov chain that only considers the state of the system after an order is placed. The resulting state space reduction allows exact analysis of instances that until now could only be evaluated using approximation procedures. In addition, the size of the state space is not affected if we include nonzero lead times, backlog, and lost sales. We characterize the optimal joint replenishment policy, and use these characteristics to develop a greedy-optimal algorithm that generalizes the can-order policy, a well-known family in the class of joint replenishment policies. We numerically show that this generalized can-order policy only marginally improves the best conventional can-order policy. For sizeable systems with multiple items, the latter can now be found using our exact embedded Markov-chain method. Finally, we use our method to improve and extend the well-known decomposition approach
The impact of control on the discount for lack of marketability
No full textValuations of private companies can be required for tax purposes, merger and acquisition transactions, divorce settlements, partnership restructurings, etc. Very often, these valuations take place in litigious circumstances. The process for valuing private companies is deceptively complex. This is notably because there is no consensus on the size and determinants of two important valuation discounts that may need to be applied: the discount for lack of control (DLOC) and the discount for lack of marketability (DLOM). We have constructed a unique dataset based on court decisions that decide on a DLOM and identify its determinants. Ultimately, this dataset has allowed us to examine whether the level of control attached to the valuation subject has a significant effect on the DLOM. This paper finds that control, while normally attributed solely to the DLOC, also impacts marketability. This hitherto overlooked determinant has a statistically significant impact of 8% on the DLOM. Contrary to conventional wisdom, control applies not once but twice to a private company’s value: as the primary driver of the DLOC and again as a key determinant of the DLOM
Academy of Management Annual Meeting Proceedings
No full textThis paper explores how contracts in private equity-backed buyouts shape corporate governance in portfolio companies. Drawing upon agency theory and incomplete contracting theory, 34 actual contracts are analysed in detail. Contracts focus on reducing information asymmetries, mainly during the due diligence process, and aligning the goals of managers and PE investors during the investment period and at exit. Residual powers and contingencies are mainly used to deal with incomplete contract designs due to uncertainties. While some contractual mechanisms are comparable to those used in VC contracts, others are idiosyncratic to PE
Lecture Notes in Business Information Processing
No full textMany organizations have a long history with the use of ERP. However, organizations are increasingly turning to digital capabilities to transform operational processes and business models. Extant literature has increased our understanding of ERP, but we lack comprehensive insights into the evolving nature of ERP in the context of digital transformation. Through a review of articles from the AIS Basket of Eight IT journals, we identified digital capabilities associated with contemporary ERP across five categories. The identified capabilities foreground the evolving nature of ERP, resulting in the introduction of a definition for digital ERP (D-ERP) and a call for research studying the co-evolution of D-ERP and digital transformation