The impact of multinational entry on domestic market structure and investment

We model the impact of different modes of multinational entry on the choices of domestic firms. Focusing on the competitive effects of foreign entry for the host country we demonstrate that greenfield investment will increase competition only if it is not countered by anti-competitive reactions on the part of the domestic firms. Together with cross-border mergers and acquisitions the model, thus, provides two alternative explanations for the increase in concentration ratios in industries with mostly horizontal foreign direct investment. Moreover, foreign presence is shown to raise total investment in the local industry at the cost of crowding out domestic investment.     

The impact and politics of entry regulation on intrastate telephone rates

This paper examines the effects of regulatory barriers to the entry of the interstate long-distance carriers into the intraLATA toll service market. With these barriers, the local telephone companies can charge supracompetitive rates for intraLATA toll calls and use the excess revenues to price local exchange service below cost. We use a reduced form econometric price model to see whether these entry barriers have increased intraLATA toll rates. The results indicate that intraLATA toll rates in states that enjoin all types of long distance carriers from providing intraLATA service are about 7.5 per cent higher than in states that allow some sort of competition. In contrast, only preventing the entry of the largest facilities-based carriers does not affect intraLATA rates.     

The impact of stress management on nurse productivity and retention

Throughout the history of nursing there is a seeming legacy of personnel shortage, lack of funds, and, based on the nature of the role and related services, heightened levels of stress involved in patient care. The future of the profession, and more imminently, patient care and the health of nurses, may be significantly impacted by repeated challenges where current levels of stress and burnout are contributing to organizational problems, burnout, and attrition. Employee stress and burnout commonly lead to myriad health-related problems that result in significant organizational consequences. There are many methods of stress management, and sometimes the best and most effective begin with simple recognition, validation, and visible and committed efforts by the nurse executive. Regardless of the technique or approach, what is clear is that there is a need for nurse executives to include the development and enhancement of comprehensive stress-management programming for employees as a priority item to avoid burnout and attrition.     

入世对我国注册会计师行业的影响

加入世界贸易组织标志着中国正逐步融入经济全球化的过程,而且也将对中国社会经济生活的各个方面产生重大而深远的影响。作为贸易和投资服务的重要行业之一,注册会计师行业同样也面临着入世所带来的机遇和挑战。要应对国际国内经济环境的变化,切实发挥“经济警察”的作用,更好地参与国家的经济建设,就要求我们及早做出科学的判断,认真审视我国注册会计师行业的现状,认清与国际同业的差距所在,趋利避害,推进我国注册会计师行业健康发展。发展现状经过二十多年的建设,中国的注册会计师行业在行业监管、协会管理、机构改制等方面取得…     

Violence against nurses and its impact on stress and productivity

The purpose of this study was to examine how violence from patients and visitors is related to emergency department (ED) nurses' work productivity and symptoms of post-traumatic stress disorder (PTSD). Researchers have found ED nurses experience a high prevalence of physical assaults from patients and visitors. Yet, there is little research which examines the effect violent events have on nurses' productivity, particularly their ability to provide safe and compassionate patient care. A cross-sectional design was used to gather data from ED nurses who are members of the Emergency Nurses Association in the United States. Participants were asked to complete the Impact of Events Scale-Revised and Healthcare Productivity Survey in relation to a stressful violent event. Ninety-four percent of nurses experienced at least one posttraumatic stress disorder symptom after a violent event, with 17% having scores high enough to be considered probable for PTSD. In addition, there were significant indirect relationships between stress symptoms and work productivity. Workplace violence is a significant stressor for ED nurses. Results also indicate violence has an impact on the care ED nurses provide. Interventions are needed to prevent the violence and to provide care to the ED nurse after an event.     

The effect of sequential entry on choice of location

An important aspect of economics arises when entry into a market of differentiated products is sequential and essentially irrevocable. An approach to the investigation of this problem is offered by the theory of spatial competition. We consider a market consisting of a line segment or its equivalent and assume irrevocable location choices for all sellers, each of whom pursues a ‘maximin’ strategy in selecting a location, and negative elasticity of demand for all buyers. Results for small N are generalised to any finite N and the patterns are evaluated on a criterion of ‘Buyers' Welfare’.     

The political economy of entry barriers

We study a political economy model of entry barriers. Each period the policymaker determines whether to impose a high barrier to entry, and the special interest groups try to influence the policymaker's decision. Entry is accompanied by creative destruction—when many new firms enter, old firms are more likely to be driven out of the market. Therefore the current incumbents (industry leaders) tend to lobby for a higher entry barrier and potential entrants (industry followers) are likely to lobby for a freer environment for entry. We analyze both static and dynamic versions of the model to examine what kind of environment supports a policy that blocks entry. In the dynamic model, the economy can exhibit various different dynamics. In particular, multiple steady states may arise in equilibrium.     

谨慎性原则的再认识

谨慎性原则贯穿于会计准则体系的很多方面,在会计实践操作中发挥着重要作用,是会计职业判断的重要依据.在当前经济形势动荡的环境下.需要重新认识谨慎性原则的意义和作用.本文认为,谨慎性原则的核心是一种风险拨备概念,对当期会计收益的修正相当于一种风险折价,以此来抵御市场变化的风险.     

The measurement of entry rates: Reply

The purpose of this paper is to respond to the comment by James H. Love on our 1991 paper inEmpirica explicitly examining the impact that the two distinct methods used to measure entry rates have had in influences made from statistical analyses. While we generally concur with Love's extension of our original paper, we do suggest that both theecological approach to measuring entry rates as well as thelabor market approach has an important contribution to make. What determines which method should be used to measure entry is the fundamental question being addressed.     

The impact of rupee devaluation on productivity

Conclusion The reduction in the capital-labour output ratio gives a good indication of investment growth and of self-reliance. How quick demands are met, and how soon the products are produced depend upon the growth of productivity. Self-reliance can be brought about by encouraging private sector which knows when, where, and how to reward merit where merit is due. In order to increase net national product of the country, let us join hands and encourage methods to increase productivity by co-ordination of techniques and their use.With 5 FiguresThe author wishes to express his high appreciation to Messrs. Krishnamurthi of the Mysore Chamber of Commerce, Arya of the Bangalore Institute of Management, and Gangadhara Setty of the Mysore State Productivity Council for their warm and helpful remarks. Of course, the author is highly indebted to Micro-Macro Economic Analyst Dr. Giovanni Caravale and Agriculture Economist-Vice-Chancellor of Poona University Dr. D. R. Gadgil for their helpful suggestions. The monopoly of ideas, contained in this paper, rests with Professor Dr. Kumara Swamy.The paper shall be divided into two parts. In part I, we deal with the subject of productivity. In part II, we discuss upon the relationship between productivity and devaluation.     

The impact of climate on life satisfaction

We analyse the influence of climate on average life satisfaction in 79 countries using data from the World Values Survey. Climate is described in terms of ‘degree-months’ calculated as the cumulated monthly deviations from a base temperature of 65 °F (18.3 °C). Our results suggest that countries with climates characterised by a large number of degree-months enjoy significantly lower levels of life satisfaction. This finding is robust to a wide variety of model specifications. Using our results to analyse a particular climate change scenario associated with the IPCC A2 emissions scenario points to major losses for African countries, but modest gains for Northern Europe.     

The impact of prudence on optimal prevention

Summary. What are the determinants of the optimal level of effort to reduce the probability of a loss to occur? Whereas most of the literature on this question focused on risk aversion, we show that the concept of prudence (i.e., a positive third derivative of the utility function) is essential to answer this question. We explain in this paper that prudence and prevention tend to be opponents rather than allies contrary to the intuition attached to everyday language.Received: 7 November 2003, Revised: 3 August 2004, JEL Classification Numbers: D61, D81. Correspondence to: Christian Gollier     

The impact of liberalization on bureaucratic corruption

Liberalization increases the number of goods available for consumption within a country. Since bureaucrats value variety, this raises the marginal utility of accepting a bribe. This “benefit effect” is counteracted by an increasing “cost effect” from corruption deterrence activities that arise due to greater international pressure to curb corruption. The interaction of these two effects can lead to a non-monotonic relation between liberalization and corruption. Moreover, pre-commitment to deterrence activities is shown to be more effective in controlling corruption. Empirical evidence supports the existence of a non-monotonic relation between economic openness and corruption among developing countries.     

The impact of NAFTA on California exports

This study conducts an examination of the North American Free Trade Agreement's (NAFTA) impact on California's export levels to Mexico and Canada while holding constant other variables that explain a state's exports to other nations, such as exchange rates and relative income growth. Transformed weighted least squares equations over a sample period between 1988 and 1997 are used to show that California's exports to Canada were not significantly affected by NAFTA, while exports to Mexico increased, on average, a statistically significant 16.11 percent between 1994 and 1997. The model also suggests that NAFTA's impact on California's exports to Mexico has increased over time from a 10.0 percent increase in 1994 to a 21.8 percent increase by 1997.This is a revised version of the paper presented at the Forty-Eighth International Atlantic Economic Conference, October 7–10, 1999, Montreal, Canada. The authors are grateful to the session participants and an anonymous reviewer for their constructive advice and suggestions in this revision.     

The impact of debt finance on aggregate demand

The crowding-out hypothesis has received extensive theoretical treatment but little supporting empirical examination. This paper presents the results of several empirical tests of the crowding-out hypothesis. These tests examine the impact of debt finance on aggregate demand, employment, inflation, and the unemployment rate. The results indicate that debt-financed fiscal initiatives crowd out a substantial amount of private spending, but do have a net expansionary effect on economic activity.     

The impact of ethnic diversity on microenterprise start-ups

Until recently, factors determining the decisions made by microfinance institutions (MFIs) to extend loans to business start-ups had not been explored. Recent evidence shows that MFI performance with regard to funds issued for small business start-ups depends on MFI-level characteristics such as profit orientation. We argue that these decisions do not only depend on MFI-specific practices or characteristics, but also on the role ethnic diversity plays. Using data on microfinance lending activities for business start-ups, we examine the impact of ethnic diversity on microenterprise start-ups. Results show that ethnic diversity negatively affects the provision of financial capital for business start-up. Furthermore, results also suggest a negative association between ethnic diversity and the share of female borrowers recorded by MFIs. We examine social networks and outreach as potential channels through which ethnic diversity affects business start-ups.     

The impact of award uncertainty on settlement negotiations

Legal disputes are often negotiated under the backdrop of an adjudicated award. While settlements are common, they are not universal. In this paper, we empirically explore how uncertainty in adjudicated awards impacts settlement negotiations. To do so, we develop an experimental design to test how increases in variance and positive skewness of the award distribution impact negotiations and settlement rates. We find increases in variance decrease settlement rates, while increases in skewness generally increases settlement rates. We also gather individual measures of risk aversion and prudence, and incorporate these measures into the analysis to test for heterogeneous treatment effects. Overall, our results suggest that highly variable adjudicated awards can contribute to the excess use of inefficient litigation, while more positively skewed awards can reduce the use of inefficient litigation.     

The impact of taxes on female labour supply

There is little agreement in economics on the factors influencing labour supply and hence on the impact of taxes. Within the marginal model, real wages and incomes are directing people's labour market behaviour independent of time and space, whereas the human resources approach takes account of the social environment and past behaviour. Even if strong assumptions are made, the neoclassical theory cannot predict the outcome of a wage increase. The labour supply response depends on the relative strengths of the substitution and the income effect. Since nonparticipation in the labour market is explained by a reservation wage being higher than the market wage, this is the only situation in which neoclassical theory would predict a rise in labour force participation with a wage increase. This case occured in a ‘natural experiment’ in Sweden. The Swedish tax system changed in 1971 from joint to separate taxation of spouses resulting in a substantial increase in the net wage of married women. This article investigates the impact of the change in the Swedish tax system on female labour force participation, concluding that it cannot explain the substantial rise in the participation rates of Swedish women. This is a significant result, questioning standard neoclassical theory and supporting the more institutional views of human labour market behaviour. That is that time and space as well as the social environment are important when analyzing labour supply. This will have consequences for international comparisons. Only factors which explain developments within one country might be relevant for explaining international differences, e.g. in labour force participation.     

The impact of prudence on optimal prevention revisited

We re-examine the link between absolute prudence and self-protection activities. We show that the level of effort chosen by an agent with decreasing absolute prudence is larger than the optimal effort chosen by a risk-neutral agent if the degree of absolute prudence is less than a threshold that is utility-independent and empirically verifiable.