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Introduction: The American Board of Surgery awards board certification after successful completion of both the Qualifying Exam and Certifying Exam. Although multiple studies have evaluated board performance at the resident level, fewer studies have evaluated board performance at the program level., Methods: Program pass rates, available through the American Board of Surgery, for 2019-2021 were compared to program information through the American Medical Association Fellowship and Residency Electronic Interactive Database Access (FREIDA)., Results: A significant positive correlation of Certifying Exam performance to residency length, resident class size, and number of total physician faculty within the program was seen. Greater average hours of didactics per week had a significant positive correlation to improved Qualifying Exam performance but not Certifying Exam. Programs with higher percentages of residents graduating from a United States MD program, compared to international or DO schools, were associated with improved performances. It also appears that more established programs performed better than younger programs <20 years old. Programs in the West and Midwest performed significantly better on the Qualifying Exam than programs in the South and Northeast., Conclusion: Board certification serves as the capstone for surgeons after completing general surgery residency. Multiple program factors demonstrate a significant correlation to board performance., Competing Interests: Declaration of Conflicting InterestsThe author(s) declared no potential conflicts of interest with respect to the research, authorship, and/or publication of this article.

Purpose: Because of our limited understanding of the incidence and effect of board busyness globally, the mixed evidence of the effect of board busyness obtained in the USA and the divergence of international patterns of director busyness from that observed in the USA, the author contends that there is a strong need to examine board busyness from a global perspective. The literature, however, does not examine the effect of board busyness on reported earnings quality and certainly does not analyze it internationally. Consequently, the purpose of this study is to examine the effect of multiple board appointments on the quality of a firm's reported earnings. Design/methodology/approach: The research design for this study is empirical. It uses both univariate and multivariate statistical analysis to examine historical corporate accounting, finance and governance data. Findings: Consistent with the busyness hypothesis of corporate governance, the author finds that firms with a higher proportion of busy independent directors or busy CEOs manage their earnings more extensively. Further, the findings of this study present that firms with a higher proportion of busy independent audit committee members have poorer financial reporting quality. Using a sample of American Depository Receipts (ADRs), this study determines that the ineffectiveness of busy boards regarding earnings management is mitigated by the listing regulations imposed by US exchanges. Research limitations/implications: The author believes that this study offers new and important evidence regarding the debate whether busy directors provide knowledge, skill and corporate connections, or whether they are overextended and, thus, unable to fully perform their monitoring duties. This study shows that firms with busy directors are associated with poorer financial reporting quality and, consistent with the busyness hypothesis, are less effective as managerial monitors. Practical implications: This study provides useful guidance regarding board design and the kinds of policies that firms should adopt regarding multiple boarding. Social implications: The social implications focus on the public policy implications regarding the importance of effective corporate governance in the reporting of financial wealth, wealth creation and wealth management. Originality/value: This is the first study that examines the relation between board/committee busyness and corporate earnings management using a comprehensive set of international firms. Second, the author expands the analysis of audit committee into a new dimension: committee quality as captured by the busyness of its independent members. This study also contributes to the ongoing debate in the corporate finance literature regarding the reputation and busyness hypotheses of multiple directorships. [ABSTRACT FROM AUTHOR]

Policy Points Hospital executives posit a number of rationales for system mergers which lack any basis in academic evidence. Decades of academic research question whether system combinations confer public benefits. Antitrust authorities need to continue to closely scrutinize these transactions. Recently, mergers of hospital systems that span different geographic markets are on the rise. Economists have alerted policymakers about the potential impacts such cross-market mergers may have on hospital prices. We suggest there are other reasons for concern that scholars have not often confonted. Cross-market mergers may be conducted for purely self-serving reasons of organizational growth that increases executive compensation. Combinations of sellers should have clear advantages to consumers. System executives and their boards should bear the burden of proof. Federal regulators and state attorney generals should be cognizant that rationales for cross-market systems advanced by merging parties are unlikely to be operative or dominant in merger decision making. Policymakers should be careful about passing legislation that encourages hospitals to consolidate., Context: There is a growing trend of combinations among hospital systems that operate in different geographic markets known as cross-market mergers. Economists have analyzed these broader systems in terms of their anticompetitive behavior and pricing power over insurers. This paper evaluates the benefits advanced by these new hospital systems that speak to a different set of issues not usually studied: increased efficiencies, new capabilities, operating synergies, and addressing health inequities. The paper thus "looks under the hood" of these emerging, cross-market systems to assess what value they might bestow and upon whom., Methods: The paper examines recently announced cross-market mergers in terms of their supposed benefits, as expressed by the systems' executives as well as by industry consultants. These presumed benefits are then evaluated against existing evidence regarding hospital system outcomes., Findings: Advocates of cross-market hospital mergers cite a host of benefits. Research suggests these benefits are nonexistent. Additional evidence suggests other motives may be at play in the formation of cross-market mergers that have nothing to do with efficiencies, synergies, or community benefits. Instead these mergers may be self-serving efforts by system chief executive officers (CEOs) to boost their compensation., Conclusions: Cross-market hospital mergers may yield no benefits to the hospitals involved or the communities in which they operate. The boards of hospital systems that engage in these cross-market mergers need to exercise greater diligence over the actions of their CEOs., (© 2023 Milbank Memorial Fund.)

This study examined the impact of board of director characteristics on nonprofit performance. Using data collected through a survey of nonprofit colleges and universities, the author provides evidence that specific board member characteristics are vital in shaping the financial and nonfinancial success of nonprofit institutions of higher education. Results indicate that both board member diversity and expertise are associated with better-performing organizations. This work makes important initial forays into the relationships between board of director qualities and nonprofit performance. Although limited by the relatively small sample of colleges and universities, this study is unique in its ability to analyze nonprofit boards and both financial and nonfinancial performance measures. [ABSTRACT FROM AUTHOR]

Background: Medications may be specially prepared, or "compounded," to meet the needs of patients who cannot use standard formulation. The United States Pharmacopeia (USP) Convention is a private, nongovernmental organization which independently develops guidelines for pharmaceuticals. The purpose of this survey study is to better understand the extent to which state boards of pharmacy currently incorporate relevant USP guidelines into their compounding regulations., Methods and Findings: Executive directors or other administrative representatives of each state board of pharmacy were invited to respond to six open-ended questions. Their free text responses were analyzed by two reviewers (KR, SI) using qualitative research techniques. The response rate was 71% (36/51). Almost all (35/36, 97%) indicated that they implement USP compounding standards at least in part. Eighteen boards (18/28, 64%) reported that 'some, but not all standards' are enforced, most commonly < 795 > and < 797 > , but not < 800 > (9/28, 32%). Ten (10/28, 36%) indicated that 'all' USP compounding standards are enforced. Eighteen (18/21, 86%) only implement finalized USP standards, whereas three consider newly proposed chapters (3/21, 14%). Over half (22/36, 61%) employ a committee or similar process to select standards., Conclusions: Almost all responding state boards of pharmacy incorporate finalized USP compounding standards into their regulations, usually via a formal rulemaking process, with boards commonly implementing some standards but not all. Chapters < 795 > and < 797 > are implemented more commonly than < 800 > . Since Congress passed the Drug Quality and Security Act (DQSA), pharmacy boards are becoming increasingly observant of USP compounding standards., (© 2021. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

Purpose – The purpose of this paper is to test the relationship between board and top management team (TMT) members' international experience and CEO multinationality, with their firm's degree of internationalization. Through the lenses of upper echelon theory, on a sample of 108 European and US firms, the author tests the variables "international experience" and "CEO multinationality", at the board and at the TMT levels. Design/methodology/approach – A longitudinal research design is used to examine director's individual attributes in 2001 and firm's degree of internationalization in 2003-2008. The sample comprised directors of the 108 largest European and US service and industrial firms by market capitalization, as listed in the Financial Times (FT) Global index of 2007. Findings – A positive effect is found on internationalization for international experience of both boards and TMTs; also a positive relationship is found between CEO multinationality of TMTs and internationalization. Research limitations/implications – It is acknowledged that the use of a diversified set of large US and European public firms could add unnecessary variance due to the different contexts involved in a sample of just 108 firms. Most of the sampled firms are already international so the study does not argue for board and TMT composition as a triggering mechanism for firm internationalization but, instead, as a tool that can enhance an international expansion process. The fact that international experience is a binary variable also limits the validity of the results. Either a direct survey of directors or a continuous variable that measures the amount in years of international experience would have yielded richer data. Data availability constraints limited the scope of this variable. The chosen operationalization just measures the presence and not the depth of executive's international experience. Additionally, it is acknowledge that just eliminating supervisory board members that represent unions/workers does not completely homogenize boards from the different countries in the sample. Practical implications – Practitioners could use these findings to improve their selection and training processes of both top managers and board members. Originality/value – The paper extends upper echelons theory to the board of directors. The comparison of boards and TMTs will facilitate the differentiation of corporate elites. It also introduces a new study variable: CEO multinationality and finally, it uses a mixed geographical sample of large European and US firms. [ABSTRACT FROM AUTHOR]

Through the lens of resource-dependence theory, we use the boards of 108 US and European firms to test the following variables: percentage of women, outsiders, government experience, and international members on firm internationalization. We find that the percentage of females and international members both have a positive effect on firm international diversification. Contrary to our expectations, we find that it is the percentage of insiders – and not outsiders as hypothesized – that is related to internationalization. [ABSTRACT FROM PUBLISHER]

Purpose - The question of whether the corporate governance practices of firms in diverse countries are converging to those of U.S. firms, and the extent of convergence or divergence, is examined. Design/methodology/approach - Company level governance measures of board structure and organization, firm audit attributes, antitakeover defenses, and compensation design attributes of international firms are compared with those of U.S. firms. Findings - We find that the evidence for convergence is more mixed than previously believed, with firms in some nations converging, others essentially static, and a number diverging from U.S. practices. We further determine that country factors such as measures of national economic freedom, increased shareholder rights, and impartial judiciaries help to explain convergence. Greater participation by banks in the ' national economy is associated with greater divergence from U.S. governance standards. Firm characteristics which are suggestive of a future need for external equity encourage convergence while those which capture the use of leverage or the ability to service additional debt are correlated with greater divergence. Research limitations/implications - This study suggests that inquiry into whether convergence is occurring might be the wrong question to ask. Rather, our findings suggest that the research focus should be shifted toward an inquiry of what specific areas of governance are converging and in what countries or regions. Originality/value - This study helps to describe what constitutes effective corporate governance design for firms worldwide. It provides managers with insights on how governance mechanisms can be tailored to reflect local practices and laws. [ABSTRACT FROM AUTHOR]

Governance of state wildlife management has been under scrutiny with respect to its ability to change to reflect the values, norms, and cultural beliefs of contemporary society. This article reviews the existing model of governance for state wildlife management; outlines concerns about this model in light of a changing social context; discusses alternative approaches; and offers considerations for how governance could be reformed to meet societal needs. [ABSTRACT FROM AUTHOR]

Purpose - The purpose of this paper is to capture a practitioner's view of board performance of US companies, especially under conditions of role duality. The paper also aims to ascertain the effects of USA governance regulation on US and international corporations. Design/methodology/approach - A qualitative interview case study. Findings - Sarbanes Oxley is unlikely to be repealed. Role duality is likely to continue. Emphasis is on ethical behaviour rather than structural board design in terms of determining the nature of high performing boards. Research limitations/implications - A single interview needs empirical study to test the findings. Practical implications - A clear outline of the key issues and challenges forcing USA board directors. The findings from the interview will benefit practitioners. Originality/value - This paper is totally original. [ABSTRACT FROM AUTHOR]

Purpose -- This paper aims to undertake a study of national configurational demographics in order to determine the spread of understanding of the chairman's role, performance and contribution. Designs/methodology/approach -- Qualitative methodology, exploratory in nature through in-depth interviews and workshop discussion involving 103 UK, US and Australian participants, was undertaken. Findings -- The role of chairman is considered as having a distinct effect on board dynamics, role and contribution and the monitoring and support of management. Nine demographic factors are identified as affecting the manner in which the role of chairman is exercised in the UK, USA and Australia. Research limitations/implications -- The findings of this qualitative exploratory study need to be integrated into a quantitative empirical survey in order to ascertain the validity of the results to date. Practical implications -- The two key conclusions highlight the requirement for governance due diligence, examining the financial and competitive strength of the organisation as well as uncovering contextual sensitivities. Originality/value -- Insufficient attention has been given to the role of chairman. The study offers additional insight on how demographic factors influence the shaping and determination of the role of chairman. This paper should be of interest to practitioners, consultants, line managers, board members, chairmen, management academics and business studies students. [ABSTRACT FROM AUTHOR]

Objective: Surgical trainees are subject to pressure from variety of stakeholders to secure board certification from the American Board of Surgery (ABS). To meet these expectations, trainees must pass a written qualifying exam (QE) and an oral certifying exam (CE) within 7 years of completing general surgery residency. Board certification outcomes for candidates who fail either the QE or CE examination are not well characterized, but this information could help candidates, policymakers, and other stakeholders make informed decisions about how to respond to examination failure., Methods: We retrospectively examined ABS records for all surgeons who completed general surgery residency from 2000 to 2013 and attempted general surgery board certification., Results: Among 14,483 surgeons who attempted general surgery certification, 13,566 (94%) passed both the QE and CE within the 7-year certification window. Of those who did ultimately obtain certification, 97% passed the QE within 2 attempts and 97% passed the CE within 2 attempts. For those who failed either the QE or the CE twice, 67% ultimately obtained certification., Conclusions: Most surgeons who obtained ABS general surgery board certification did so within 2 attempts at each board examination. Candidates who fail either examination twice are less likely to achieve board certification., (Copyright © 2020 Association of Program Directors in Surgery. Published by Elsevier Inc. All rights reserved.)