Professional Managers Research Articles

Challenges and opportunities for improvement in the management and financing system of Health Promotion Offices in Hungary.

One hundred ten Health Promotion Offices (HPOs) have started operating in Hungary in response to public health challenges. Many of them have been active for almost 10 years, yet their operational experience has not been evaluated. The specific objectives of our study were: (1) to describe the current operational and funding system of HPOs, (2) to identify challenges related to the current management and funding practices, and (3) to formulate recommendations for improvement based on gathered experience and international experience. In order to gain a deeper insight into the operational experience of HPOs, an online survey was conducted with the professional or economic managers of HPOs. A scoping review was carried out to gather international experiences about best practices to formulate recommendations for improvement in developing the operational and financing scheme for HPOs. We found that current HPO network in Hungary faces three main challenges: a deficient management system, inflexible financing scheme, and unequal ability to purchase or provide services for the population. Based on the survey complemented by international experiences, we propose the overhaul of the professional management system and switching toa combination of fixed and performance-based financing scheme for the HPOs in Hungary.

PREDICTING PAKISTANS’ MUTUAL FUND PERFORMANCE: AN EVALUATION OF TRADITIONAL AND MODERN MEASURES

Mutual Funds enable small investors to benefit from the capital market with minimal investments, thanks to the expertise of professional managers. This study focuses on the Pakistani Mutual Fund industry and evaluates the suitability of traditional and multifactor asset pricing models in assessing Mutual Fund performance. Since multifactor models are rarely used in Pakistani research, this study employs the CAPM, Fama French, and Carhart models to assess the performance of Pakistan Mutual Funds. Data from 100 open-end Mutual Funds between 2005 and 2017 was collected from the Mutual Fund Association of Pakistan, while risk-free rates data was gathered from the State Bank of Pakistan and stock data from the Pakistan Stock Exchange. Ratio analysis, CAPM, Fama French-3 Factor, and Carhart-4 Factor models were used to analyze the data and determine which model was most suitable. The results indicate that the CAPM affects the market factors of the majority of portfolios. Conversely, the size factor, value factor, and momentum factor in the Fama French and Carhart models have an insignificant effect on the majority of portfolios. The Gibbon Rose Shanken test reveals that the CAPM model is the most suitable for evaluating Mutual Fund performance in Pakistan. The findings of this study have implications for asset management company managers and investors alike. It provides valuable insights into which funds perform better and which types of funds are ideal for investment.

Family nonexecutive directors, professional managers, and investment in family firms

This study empirically analyzes the relationship between family nonexecutive directors and family business investment. It is found that family nonexecutive directors can significantly inhibit listed family firms’ capital expenditure and innovation investment. Furthermore, firms effectively introducing professional managers inhibit or mitigate the impact of family nonexecutive directors on the firm's capital expenditure and innovation investment, and a change in general manager has no moderating effect on the relationship between family nonexecutive directors and the firm's capital expenditure and innovation investment.

Facilitating internal audit quality and improving the performance of medical clinics

IMPACT This article advances a new form of leadership—audit leadership—for cultivating internal audit quality in medical clinics. The authors document the power of audit leadership, manifested by two facets—professional and relational behaviours—for developing a work environment in which people develop interpersonal trust and psychological safety, which is conducive for internal audit quality. The authors show how managers of medical clinics can shape a work environment in which internal audit is embraced and supported in ways that can help the units to perform at higher levels. Importantly, internal audit, often viewed as an unproductive organizational function, enables learning, process improvement and is a deterrence against potential transgressions. This article will be of particular interest to financial, accounting and management scholars, as well as professional auditors, managers, accountants and financial experts.

Multi-sector fair project management

Fairs, like projects, can be understood as a temporary endeavor that will provide a unique product, within a pre-defined budget. This article aims to analyze how the project management of multisectoral fairs in the Alto Uruguai Gaúcho region is carried out. For this, it is necessary to identify how the projects are elaborated, what are the elaboration and management methodologies, who are the stakeholders and how the projects are managed throughout their life cycle. The methodology has an exploratory and qualitative approach. Data collection took place through interviews with the organizers of the fairs in 9 municipalities and the analysis was performed with the categorization based on the research objectives and lexical analysis with Iramuteq. With the accomplishment of this study it was verified that the analyzed events do not elaborate projects to assist in the management of the fairs, consequently, the management occurs empirically, varying according to the profile of the organizing committee and without prior planning. The results can help fair organizers, municipal managers and even professional project managers to get to know the reality of fairs and make it possible to improve management with the use of recognized tools.

Corporate governance and performance of state-owned enterprises in a least developed economy

Purpose: The main objective of the study was to investigate how corporate governance affects the performance of state-owned enterprises (SOEs) in a least developed economy.Design/methodology/approach: Both primary and secondary data from nine state-owned companies that operated between 2001 and 2016 were analysed in the study. The investigation used a quantitative methodology. Fixed effects, random effects and generalised method of moments (GMM) estimations were used to conduct regression analysis.Findings/results: The findings show that corporate governance characteristics affect SOE performance in a least developed economy. The performance of SOEs is influenced favourably by board structures, director tenure, reduced government ownership and leverage. Conversely, increased state ownership leads to subpar performance. The study also reveals that the presence of civil servants and directors with political affiliations in government-controlled companies has a negative effect on enterprise value.Practical implications: The use of multiple case studies to investigate SOEs in their natural setting has given some insights for both professional managers and policymakers interested in developing corporate governance frameworks to improve SOEs value in least developed economies, particularly in sub-Saharan Africa, even though the results are limited in terms of statistical generalisation because the study was based on a single country.Originality/value: The study fills a gap in the literature about how SOE performance is affected by corporate governance in least developed nations, where such research is underdeveloped.

What drives the attainment of goals of ethical education in higher institutions? The perception of professional accountants and accounting educators

PurposeThis study examines the impact of ethics education interventions (EEI) on attaining ethical education goals in higher institutions.Design/methodology/approachThe study utilizes a survey method, with questionnaires distributed to accounting instructors from universities and professional accountants in Ghana. The empirical analysis is based on 417 valid responses, and the hypothesized relationships are tested using ordinary least square (OLS) regression.FindingsThe results indicate that ethics-related courses (ERC), methods of teaching ethics (MTE) and methods of ethics interventions (MEI) have a positive and significant impact on achieving the objective set for EEI in accounting programs.Research limitations/implicationsThis study provides valuable insights for accounting educators and professional body managers in developing accounting ethics curricula in universities and professional accounting institutions.Originality/valueThis study involves accounting educators and professionals and applies ethical theories of egoism, deontology and utilitarianism to demonstrate the role of ethical interventions in accounting programs in achieving set objectives from a developing country context.

The Influence of Perceived Relationship Quality on Donor Behavior in the Context of Charitable Nonprofit Organizations Established by Professional Sport Entities

This research revised and validated the relationship quality construct in professional sport nonprofit organizations. A sequential exploratory mixed-methods design was employed. The qualitative methods identified preliminary themes of donors’ relationship quality perceptions toward professional sport nonprofits. The quantitative methods were employed to refine the relationship quality construct and investigate its influence on donation intention. The revised relationship quality instrument consisted of items measuring trustworthiness, commitment, sympathy, and friendliness. The relationship quality of nonprofit staff members had a stronger impact than that of professional athletes on donation intentions. The findings provide insights and offer practical implications for professional sport nonprofit managers.

Facilities management and clients satisfaction nexus in hotels in secondary cities in Ghana: A study of selected hotels in Wa

PurposeThis study aims to assess how the provision of facilities management (FM) services influences customer satisfaction in hotels in secondary cities. This study focussed on customer satisfaction in relation to specific FM services such as cleaning, maintenance, security, internet/information technology and air conditioner servicing.Design/methodology/approachThe study used a case study design. Simple random and purposive sampling methods were used to select the hotels and the respondents. The study used a survey based on the SERVQUAL model to collect data from 136 respondents. Six hotel managers were also interviewed.FindingsThere were disparities in customer satisfaction across the various hotel categories based on the assessment indicators used. Thus, customer satisfaction with FM services was not influenced by hotel ratings. On the calibre of staff handling FM activities, none of the hotels had a professional facilities manager. The hotel managers were in charge of FM activities, which affected the provision of FM services. Generally, customers in all the selected hotels were not satisfied with the quality of FM services. Specifically, the overall mean gap score was very low (−3.20), which meant that customers’ expectations far exceeded their perceptions, hence, their dissatisfaction. Tangible(s) of services were customers’ least appreciated (−1.04) dimension. This meant that hotels did not pay much attention to the physical (place) aspect of their FM activities. This should engage the attention of hospitality industry regulators and policymakers, given the current global health crisis caused by Covid-19 and its variance.Originality/valueThe study demonstrates customer satisfaction with FM services in hotels in secondary cities. Practically, hotels can become very competitive if they consider the findings of the study to provide effective customer-oriented FM services.

TERMINOLOGICAL APPARATUS OF DESIGN RESEARCHES OF CONSULTING ACTIVITIES IN HIGHER EDUCATION

The article reveals the issues of designing consulting activities in a higher education institution and describes the features of providing consulting services in conditions of uncertainty. An analysis of the theoretical foundations and classification identification of the design of consulting activities in a higher education institution is carried out. The essence and conceptual and terminological apparatus of the researched topic are highlighted. The content of the concepts "consulting", "consulting activity", "management consulting" are considered. Attention is focused on the conditions of uncertainty of our state, which today drive the economy, science, culture, education, industry and determine the development of educational consulting. The rapid growth of consulting services is emphasized, which determines the development of consulting activities, which precedes significant losses caused by mistakes made by managers in management activities, etc. The scope of consulting activities in the higher education system of Ukraine has expanded from professional training to solving problems in educational institution management, labor relations, service in state authorities, social security, etc. The article highlights the specifics of consulting, discloses the features of management consulting in modern educational activities, and highlights the features of providing consulting services to the participants of the educational process. The issues of the essence of the consulting function, which is based on providing assistance to education managers, analysis, development, provision and monitoring of the effectiveness of the implementation of the requested positions, are revealed. The main functions of consulting in institutions of higher education are highlighted. Arguments for the effectiveness of cooperation between consulting companies and institutions of higher education are presented. Emphasis is placed on legal support of educational activities, scientific and methodical support of the educational process, and management consulting. Large-scale transformations in all spheres of human life are outlined, which enable higher education institutions to effectively adapt to the conditions of a changing external environment using consulting activities in the education system, based on the need to use professionalism and deeper experience of professional managers of higher education institutions. Difficulties and contradictions inherent in the formation of an informational and advisory environment of an educational institution and the implementation of management consulting in a higher education institution are considered.

A Study on Performance Evaluation of Balanced Investment Schemes Offered by Selected Asset Management Companies

Investing in mutual funds and diversifying the investment portfolio are two critical strategies for achieving long-term financial success. Mutual funds pool money from multiple investors to invest in a diversified portfolio of stocks, bonds, or other assets. This diversification helps reduce the impact of individual stock or bond price fluctuations, thus mitigating market risk. Mutual funds are managed by experienced fund managers who conduct extensive research and analysis. These professionals make informed investment decisions, saving investors from the need to constantly monitor the market and individual securities. Diversification allows investors to balance risk and return according to their risk tolerance. By spreading investments across different asset classes and risk levels, individuals can achieve their desired risk-return profile. By harnessing the expertise of professional fund managers and diversifying across various assets, investors can navigate market fluctuations with confidence while working toward a more secure financial future. It also contributes to the field of finance by offering a comprehensive analysis of the performance of balanced mutual fund schemes, employing a range of evaluation tools, and emphasizing the critical interplay between risk and return in the investment landscape. Keywords: Balanced mutual fund scheme, Performance evaluation, Asset Management Companies (AMCs), evaluation metrics.

경영권 집중화 수준이 원가의 하방경직성에 미치는 영향

This study analyzes the influence of CPS on cost stickiness. Also it analyzes whether the influences are different by the type of CEO(whether the CEO is a owner manager or a professional manger). For this purpose, it collects samples from Korean companies which were listed in Korean Stock Exchange from 2013 to 2021. From the analysis using total samples, there was no significant relation between CPS and cost stickiness of SG&A. Then, this study divided the sample by owner managers’ companies and professional managers’ companies. From the analysis using owner managers’ companies, it was found that CPS was weakening the cost stickiness of SG&A. On the other hand, from the analysis using professional managers’ companies, it was found that CPS was strengthening the cost stickiness of SG&A. The results of this study suggests that agency cost should be considered prior to CPS on the issue related to cost stickiness, Also, it seems that CPS strengthens the effect of the agency cost to the cost stickiness. Finally, the result of this study suggests that the direction of the impact on the company may vary depending on the type of CEO even if they are in similar level of CPS.

Pengelolaan Lembaga Sertifikasi Profesi (LSP-P1) dalam Menyiapkan Lulusan Perguruan Tinggi di Dunia Kerja

The Management System for Professional Certification Institution in Higher Education prepares students for work. Professional Certification Institution also promotes competency certification as a means of student competency recognition. Studying the competency certification mechanism at Professional Certification Institutions-P1 in Higher Education is necessary. This study examined the advantages and disadvantages of Professional Certification Institution-P1 management in higher education. This study uses a qualitative approach with a case study design. The subjects of this study were the Professional Certification Institution-P1 Head, Certification Manager, and Quality Manager. Research data were collected through observations, interviews, and documentation and analyzed using triangulation to provide valid data. An interactive analysis model analyzed triangulated data (Interactive model analysis). While, Interviews, observations, and documentation provided a general description of the Professional Certification Institution's competence certification mechanism, which follows professional certification body number 04/BNSP.305/ X/2013 concerning the test guidelines. In addition, higher education institutions are developing Professional Certification Institution management by increasing the number and quality of assessors for competency test activities and certification schemes. The National Education Education Standards Agency (BNSP) guidelines and university leaders' support have guided management's advantages and disadvantages. The Professional Certification Institution-P1 needs to conduct more socialization on students for competency test participation. Thus, it can be concluded that this study shows that East Java universities generally follow National Education Standards Agency guidelines for managing Professional Certification Institutions.

РЕФОРМУВАННЯ КОРПОРАТИВНОГО УПРАВЛІННЯ ГІРНИЧОДОБУВНИХ ПІДПРИЄМСТВ

The article is devoted to the study of the peculiarities of reforming the corporate management of enterprises in the mining industry. Challenges facing the industry are indicated. The role of corporate management is disclosed, the principles of such management are summarized. The advantages of corporate governance policy are outlined. Among the advantages, the following are highlighted: the possibility of wider access to financing, ensuring the protection of investors, maintaining the stability of the company. It has been investigated that the Government has set the task of introducing and ensuring compliance with corporate governance standards at the ten largest state-owned enterprises ofUkraine. The largest company in the mining industry - JSC "Naftogaz of Ukraine" was chosen as the object of the study. Considered how the process of reforming corporate governance took place in this company. The key elements of proper corporate governance of NJSC "Naftogaz of Ukraine" are: availability of full-fledged and effective management bodies; clear division of powers; functioning of the internal control system; elimination of political influence; creation of equal market conditions with private companies. It was determined that the attention of international organizations was drawn to the reform of the company's corporate governance. Experts of the Organization for Economic Cooperation and Development implemented two important projectsthat contributed to the implementation of the reform. The implementation of the corporate governance reform in Naftogaz of Ukraine led to the following changes: changes were made to the Company's Charter, the Ownership Policy was approved, new members of the Supervisory Board were elected, and a new corporate strategy was announced. It was concluded that the initiated reform of improving corporate governance by business entities remains an important priority for Ukraine. The success of the reform will depend on: the construction of the stock market and the maximum approximation of Ukraine to world standards; creation of a centralized body for state property management; avoiding political influence on the activities of companies; availability of professional stock managers; strengthening of regulatory influence

THE PHENOMENON OF THE EPIDEMIC OF SILENCE AS A CRITICAL FACTOR IN THE PERSPECTIVE OF ORGANIZATIONAL MANAGEMENT

In recent years, more and more organizations have recognized that efficiency and effectiveness depend not only on access to qualified personnel, technology or capital, but also on an organiza-tional culture that enables open and free expression of opinions by employees. Research and obser-vations in the field of management and quality sciences indicate that many organizations face the challenge of the so-called epidemic of silence (hereinafter referred to as EC), i.e. a situation in which employees avoid openly expressing their opinions or sharing their concerns, ideas or inno-vations. The author has attempted to describe EC as a phenomenon resulting from specific behav-iors and decisions, strongly influencing not only organizational culture but also efficiency and effectiveness. As a management practitioner and active professional manager, he identifies key factors, in his opinion, that generate the risk of EC occurring in an organization, with particular emphasis on the concept of interpersonal risk and psychological safety (hereinafter referred to as BP). As a result, directions for possible actions aimed at building a mature culture of failure and success in an organization have been presented. Although the article deals with phenomena strong-ly rooted in the psychosocial space, it should be read in the perspective of management and quality sciences, according to the postulate that in contemporary economic and business realities, it is erroneous and dangerous in management processes to separate systemic aspects from cultural ones.

Social contagion and the survival of diverse investment styles

We examine the contagion of investment ideas in a multiperiod setting in which investors are more likely to transmit their ideas to other investors after experiencing higher payoffs in one of two investment styles with different return distributions. We show that heterogeneous investment styles are able to coexist in the long run, implying a greater diversity than predicted by traditional theory. We characterize the survival and popularity of styles in relation to the distribution of security returns. In addition, we demonstrate that psychological effects such as conformist preference can lead to oscillations and bubbles in the choice of style. These results remain robust under a wide class of replication rules and endogenous returns. They offer empirically testable predictions, and provide new insights into the persistence of the wide range of investment strategies used by individual investors, hedge funds, and other professional portfolio managers.

New Technologies and the Supply Chain of African Neo-Pentecostals

Academic conversation in missional activities revolves around some variables, including spiritual and theological paradigms. Among African Neo-Pentecostal Churches (ANPCs), where miracles and wonders are central to missional activities, it is uncommon to think that excellent delivery in missional service goes beyond power display, miracles and spiritual due diligence. Although some Christian ministries employ professional managers to oversee certain missional operations and logistics, the dynamics and impact of such managerial services, especially the “supply chain” process in the face of evolving technologies, are rarely brought forward in theological conversations. To fill this gap, this article places a searchlight on the interaction of ANPCs’ supply chain with new technologies (NTECH) in the past. Likewise, with an empirical survey covering 219 respondents as the primary source, it juxtaposes the current state with the future of the interaction. The outcome indicates no substantial interaction in the past and a possible wide margin between current and expected future interaction, with a 22.3% total median rate. Lastly, causes of low interaction are briefly discussed and lessons are presented for improved future interaction.

Excess Return of US Mutual Funds

The paper examines the factors that contribute to the outperformance of mutual funds in relation to the market, with a particular emphasis on the macroeconomic indicators as the key variables of interest. The paper begins by providing a comprehensive literature review on various factors that can impact the performance of mutual funds. The discussion encompasses a wide range of topics, including skill presence, diseconomies of scale, and other challenges associated with generating excess returns for investors.In the second part of the paper, an empirical analysis is conducted using actively managed US mutual funds to establish a relationship between fund performance and macro-variables, specifically focusing on term and credit spreads. Furthermore, the study considers different returns on positive and negative changes in spreads. The sample consists of funds that primarily invest in various sectors within the United States, with the Standard and Poor's 500 (S&P 500) serving as the benchmark. To assess the performance of funds with active strategies, panel data models are applied, with the excess return over the benchmark as the dependent variable. Different subperiods, including the financial crisis and the COVID-19 period, are examined. Notably, the impact of variables during the pandemic period differs significantly from other subperiods. The findings indicate that positive and negative changes in the spread between corporate bond yields have significant and positive effects across almost all periods, which has practical implications for potential investors. It suggests that active professional portfolio managers have been successful in uncertain periods. To control for external shocks and funds' cross-correlation, double-clustered standard errors are employed, and a series of robustness checks confirm the stability of the results.

The Case for Dual Certification.

Patricia Nunez, MA, CRC, CDMS, CCM, is a commissioner and serves as secretary on the Executive Committee of the Commission for Case Manager Certification (CCMC), the first and largest nationally accredited organization that certifies more than 50,000 professional case managers and disability management specialists. The Commission oversees the process of case manager certification with its CCM credential and the process of disability management specialist certification with its CDMS credential. Patricia is also a director within the Claim Supply Management office of CNA, and is based in CNA's Orange County, California location. Address correspondence to Patricia Nunez, MA, CRC, CDMS, CCM, Commission for Case Manager Certification, 1120 Route 73; Suite 200, Mount Laurel, NJ 08054 ([email protected]) The author reports no conflicts of interest.

Spatial Synergism a Planning Instrument Sustainable Tourism Village

This study aims to: 1) identify factors that can facilitate the occurrence of spatial synergism in tourism villages, and 2) find and determine the level of undesirable conditions and conditions expected from spatial synergism in tourism villages. Research data were collected using in-depth interviews and using nominal group technique (NGT. Key informants are 5 people and respondents are 15 people determined based on purposive sampling. All data were analyzed with a qualitative analysis approach. The results of the study found that the historical similarity factor, the proximity factor, the hereditary similarity factor, the solidarity factor, the potential similarity factor, and the problem similarity factor are factors that influence the occurrence of spatial synergism in tourism villages. In addition, it was also found that the level of conditions expected from the spatial synergy of tourism villages is to have one plan, one region, one organization, one regulation, and one management. While the level of conditions that are not desirable from the spatial synergism of the tourism village is that it does not have planning (spatial and non-spatial) and professional managers or institutions, sectoral egos appear and discriminatory treatment, disrupts or limit local community activities and culture, does not involve the role of Penta helix tourism actors, carrying out unfair competition in tourism promotion and not using digital technology. This study suggests that a more in-depth study is carried out regarding spatial synergism, especially the process of spatial synergism.