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Shareholders and managers can work in a hierarchy in which principals attempt to control the actions of agents to achieve the wealth objective. Alternatively, shareholders and managers can work together as a cooperative team in which shareholders provide financial capital and managers provide human capital. The authors aim to examine the different implications for value creation provided by the two approaches.

By comparing the literature on the value implications of the incomplete contracting framework and control arrangements in principal-agent hierarchies, the authors identify deviations from optimal outcomes and suggest solutions.

The review indicates that a cooperative framework has some advantages over the hierarchical model. The stability of human capital and the relationship between managers and shareholders can be enhanced when shareholders provide capital in increments which vest over time and latitude for renegotiation of agreements is built into contracts.

By surrendering control using stock options programmes, managers are free to invest in relationship-specific assets. Shareholders can control the provision of capital by withdrawing investment if insufficient returns are realized, i.e. if stock options do not meet vesting requirements. The market can then be left to do its work.

This paper provides an original review of literature on cooperation and hierarchies in the shareholder–manager relationship and proposes solutions to identified deviations from optimal outcomes.

According to Swedish law, every county is required to have a local drug and therapeutics committee (DTC) to contribute to safe and cost‐effective drug use. The law presents merely a framework and gives no detailed instructions addressing, for example, organisation and methods. The aim of this study is to explore the variation of conceptions of the role of the DTCs among committee Chairs and to compare the results with an earlier study.

Data were collected by questionnaires and telephone interviews with committee chairs, which were analysed using a phenomenographic approach.

Four conceptions were identified, namely: traditional, patient‐aware, influential, holistic and cooperative, which all involved prescribers. In one conception the DTC acted as an expert to decision‐makers. One conception included the notion that cooperation across the bureaucratic borders was important. Patients were involved in two conceptions. Comparison with the earlier study showed a trend toward higher patient awareness and a higher agreement on DTC goals with an increased focus on quality issues.

This study demonstrates an alternative research method bringing in new perspectives when exploring activities within healthcare. Patient involvement in the work of the DTCs is increasing, but should be further explored and developed.

We study the events that motivate CEOs to underinvest in R&D long-term projects (CEO myopia). Based on the existing literature in earnings management and agency theory, myopia is likely to become more problematic under five circumstances: when the CEO nears retirement (the CEO horizon problem), R&D projects have very long time horizons (the project horizon problem), the firm’s financial health is deteriorating (the cover-up problem), ownership structure is heavily weighted toward insider owners (minority owner oppression problem), and when the threat of hostile takeover increases (the entrenchment problem). We setup a dynamic simulation model in which rational CEOs maximize the total value of their bonus compensation over their tenure. Our findings related to the five circumstances are consistent with the extant literature. However, we found an unexpected stable, nonlinear (inverted U-shaped) relationship between CEO tenure and R&D investment. We discuss the theoretical implications of our model and offer suggestions for future research.

This paper offers an exploration of contextual factors that influence carer-to-resident talk in Australian residential aged care.

A qualitative exploratory multiple case study methodology and a theoretical framework of service language were applied to explore the perspectives of 21 registered nurses, assistants in nursing, leisure and lifestyle officers, general managers and care managers at three residential aged care homes in Australia.

The findings demonstrate contextual factors related to the care home environment, the carer and the relationship between carers and residents that impede or enable carer-to-resident talk in residential aged care. Multiple factors related to the care home environment were found to impede carer-to-resident talk, including time pressures, staffing levels, team culture and the prioritisation of tasks. Factors related to carers had potential to either impede or enable talk, including carers' awareness of the importance of communication, level of experience and individual characteristics, values and attitudes. A strong relationship between a carer and resident built on knowledge of individuals was a key enabling factor.

The paper advances an understanding of factors that influence talk and interaction in residential aged care in Australia from carers' and care home leaders' perspectives. The findings can be used to support verbal communication management strategies aligned with a person-centred care approach, including training and development of staff, cultural change interventions and a review of care delivery procedures.

The purpose of this paper is to explore and describe online communication about the experiences and attitudes toward Swedish Healthcare Direct, a national telephone advice nursing (TAN) service.

A descriptive research design was adopted using a six-step netnographic method. Three Swedish forums were purposefully selected and data from the virtual discussions were collected.

Three themes emerged: expectancy and performativity of the nurses, absurdity in accessibility and the scrutinizing game. The most prominent finding was the scrutinizing game, which included aspects of bidirectional mistrust from both nurses and callers. Another salient finding was the attitudes that callers held toward nurses who used a technique interpreted as “passing the buck.”

The use of a nethnographic method is novel in this area of research. Consequently, the body of knowledge has regarding telephone advise nursing service has significantly been broadened. A limitation in this study is that demographic data for the posters are not available.

Bidirectional distrust is an important issue that must be acknowledged by TAN services, since it might damage the service on a fundamental level. Healthcare providers, politicians, and researchers should account for the power and availability of virtual discussions when seeking consumers’ opinions and evaluating the quality of the care provided.

This analysis of the ongoing discussions that take place on the internet provides insight into callers’ perceptions of a national TAN service. The bidirectional mistrust found from both the nurses and the callers might be a threat to callers’ compliance with the advice given and their care-seeking behavior.

IN MANY RESPECTS 1961 has been a disappointing year in the British library field. In January we remarked upon our hopes for the year: a new examination syllabus, a new look for the Library Association, progress on the new building in Store Street for the National Central Library and the Library Association, a new Public Libraries Act—these were some of the advances envisaged at the outset of this year.

Improved quality and safety in drug use is a public health goal of major importance. In Sweden, local drug and therapeutics committees (DTCs) have adopted the task of working for safe and rational drug use. This study aimed to explore how chairs conceived the role of the DTCs, to explore how information officers conceived their own role, and to determine whether the respondents included patients in their answers.

Data were collected using questionnaires and the answers were analysed according to phenomenographic method to identify conceptions. “Patient awareness” was studied by content analysis.

In both groups the prescribers were the focus of attention, and only a few respondents mentioned patients. A variation of four conceptions was found among chairs and three among information officers. It would be beneficial if DTCs used this knowledge in their development.

The importance of “patient awareness” within DTCs must be further explored.

The purpose of this paper is to describe the variations in the ways that principals conceptualize their basis of power in schools.

Phenomenography was used as the research method of this study. The interviewees consisted of 16 principals, eight from public schools and eight from private schools.

The analysis of the interviews revealed eight ways of understanding a principal’s power basis. These potential power bases were: teachers’ sense of reciprocity; teachers’ sense of responsibility; organizational rules and regulations; principals’ deep knowledge and experience; in-service training; principals’ reputation for being fair and impartial; teachers’ sense of identification with their principal; and principals’ control over teachers’ employment. Participants from public and private schools held generally similar conceptions. The conception of in-service training remained limited to private school principals. The power basis of principals’ control over teachers’ employment was not emphasized but could still be perceived as a conception in certain statements by participants.

Coercive power and legitimate power of reciprocity need to be investigated more thoroughly in the field of educational administration.

There is an urgent need for training for principals to raise their awareness of the adverse effect that coercive power has on teachers.

This study is the first known to explore variations in the ways that principals conceptualize their power basis.

The aim of this study was to describe nurses' and other health care professionals' views about their patient education skills and how to develop them.

The data for the study were collected from the participants of the online education course on patient education. The data were analyzed using qualitative content analysis.

The results show that, in the experience of health care professionals, it is important to make a shift from the professional‐led education and counselling towards an education relationship in which the professional and the patient are equals and represent different kinds of expertise and to develop patient education towards patient‐centredness supporting the patients' self‐management.

The sample used in the research is small.

The participants in this study experienced that, as patient educators, it is necessary for them to acknowledge their own abilities, beliefs and values in order to be able to develop their patient education skills. This is noteworthy because appreciating and acknowledging the importance of reflection is one prerequisite for the paradigm shift from the traditional patient education model towards patient‐centred education. Consequently, it is important to investigate further the best ways of facilitating the development of health care professionals' skills with regard to patient‐centred education.

The study showed that, through education and training, health care professionals can recognize the need to develop their patient education towards patient‐centredness.

Interpersonal skills are increasingly important tools in long-term care with older people, especially against the backdrop of loneliness affecting older people and expectations for a person-centred, joined-up approach. However, the term is used as a composite and its definition lacks shape and focus. In existing literature, participants appear to be selected on the basis of specific illnesses rather than age. Better understanding of the features of everyday communication processes associated with person-centred care can lead to improvements in policy and practice.

A scoping review examined communication features associated with person-centred care for older adults. This identified the extent and nature of literature. Several databases were searched; after screening and hand-searching, 31 were included. Findings were analysed for patterns and contradictions, against the objectives of person-centred and integrated care.

Emotional intelligence and the ability to employ various communication styles are crucial skills of person-centred communication. Such approaches can have positive effects on the well-being of older people.

Some studies' validity was weakened by methodological designs being founded on value judgements.

Using personalised greetings alongside verbal and non-verbal prompts to keep residents emotionally connected during personal care is considered good practice. Stimulating feedback from people using services and their relatives is important.

The role of communication is highlighted in many professional guidance documents on person-centred and integrated care, but the process of implementation is decentralised to individual employers and workers. This paper draws on the findings of contemporary literature, grounded in naturalistic data, with implications for practice and policy.