Can’t You Count? Public Service Delivery and Standardized Measurement Challenges – The Case of Community Composting

Abstract

Performance measurement is increasingly important for UK third sector organizations (TSOs) driven in part by policymakers’ interest in harnessing them as deliverers of public services. This article examines a developing and little researched constituency of TSOs – community composters – which has become attractive to policymakers facing obligations to reduce, recycle, and reuse waste. The research, which included the first extensive survey of this constituency combined with a purposive case study investigation, found a highly diverse set of organizations. The analysis proposes five types of community composters and explores the challenges to developing a standardized measurement regime.     

Evaluating Tax Policy for Location Decisions

We consider the impact of taxation when investors face a discrete choice between two or more mutually exclusive projects; in particular we consider the location choice of multinationals. Such choices depend on an effective average tax rate. We propose a precise measure of this rate, which is shown to be equal to a weighted average of an effective marginal tax rate and an adjusted statutory tax rate, where the weights depend on the profitability of the investment. Estimates of the distribution of this measure are presented and compared for domestic and international investment in the USA, France, Germany and the UK. We analyse the impact of harmonising corporate tax rates in Europe on incentives to locate in France, Germany and the UK.     

A note on tariffication strategy cases in telecommunications

The tariff policy of a telecommunication operator has a strategic importance on achieving optimal revenues and a fundamental impact on its position in the competition with other operators on the liberalised telecommunication market. The payment for a connection through a telecommunication network may be determined by a rate for one call unit, by the duration of the call unit and their count during a call. An operator derives the rate and the duration of the call unit from a detailed analysis of large databases that contain statistical data on counts and duration of particular calls depending on the type of call. Usually only the operator knows these data files and keeps them confidential. In this note we show how it is possible to estimate revenues from telecommunication traffic only knowing a set of basic parameters.     

SECONDARY MORTGAGE MARKET PURCHASE COMMITMENT YIELDS

We provide empirical evidence that quoted secondary market mortgage yields conform to the predictions of option theory. We compare Fannie Mae and Freddie Mac origination yields offered in the secondary market from 1985 to 2003 with the predictions of a two‐state binomial mortgage option valuation model. Our two‐state approach considers a mean‐reverting interest rate process as well as a stochastic housing price. Using predictions from option simulations, we find strong links between market practice and mortgage option prepayment and default factors over time. We also find cross‐sectional differences that are consistent with the institutional structure of the markets.     

U-shaped relationship between vertical integration and competition: Theory and evidence

This paper considers how competition can affect aggregate innovative activity through its effects on firms' decision whether or not to vertically integrate. A moderate increase in competition enhances innovation incentives and too much competition discourages innovative effort. These effects generate an inverted-U relationship between competition and innovation and between competition and the incentive to vertically integrate. Preliminary evidence finds that there is a nonlinear relationship between competition and the propensity of firms to vertically integrate. These results seem to be more consistent with the Property Right Theory of vertical integration than with the Transaction Cost Economics approach.     

Exploring the Relationship Between Rework Projects and Risk Indicators

When projects fail to adequately meet requirements, organizations are forced to either abandon the project or to initiate a new project to address the original project requirements. Because the organization already has experience with and exposure to many project details, it is possible that the second attempt to address the original requirements (a rework project) will create different challenges for the project team. The purpose of this study was to examine risk indicators for rework projects and to determine whether or not risk indicators were the same or different for rework projects. A risk indicator is a factor that has predictive power about the likelihood of a risk occurring in the course of a project's life cycle. The projects studied for this research were undertaken by a large engineering design organization. The results show that there are some important differences in the types of risk indicators experienced by project managers and project teams in rework projects. Specifically, the risks associated with project urgency, quality, and technological changes were more common in rework projects. By understanding and attending to these differences in rework project risks, project managers will be better equipped to successfully guide rework projects to completion.     

The role and contribution of networks in M&A of innovative ventures: can lessons learned from networks of Israeli start-ups be applied by China?

Networks’ impact on business outcome is documented in various theories. We examined the role of specific actors in the networks of successful Israeli technology ventures and identified the actor's contribution during early, advanced, and merger and acquisition (M&A) stages. A mixed qualitative–quantitative method was applied to collect insight and data from 185 founder-entrepreneurs who exited via M&A. A name generator-interpreter technique was used to obtain details on the role and contribution of 768 actors. Our findings pointed to the influential role of actors such as Venture Capitalists , angels, board members, and multinational firms, as well as the vital contribution of foreign actors, during M&A transactions. We further draw implications to illustrate that, if applied, lessons learned from sell-side acquired ventures can benefit Chinese companies in their quest to acquire innovation via M&A. We suggest that the understanding of networks practiced by acquired ventures can increase buyers’ accessibility and visibility to target opportunities and improve M&A outcomes.     

Insurer's insolvency risk and tax deductions for the individual's net losses

Using the representative agent approach as in Kaplow (Am Econ Rev 82:1013–1017, 1992b), this paper shows that providing tax deductions for the individual’s net losses is socially optimal when the insurer faces the risk of insolvency. We further show that the government should adopt a higher tax deduction rate for net losses when the insurer is insolvent than when the insurer is solvent. Thus, tax deductions for net losses could be used to provide an insurance for individuals against the insurer’s risk of insolvency. These findings could also be used to explain why a government provides supplementary public insurance or government relief. Finally, we discuss that, if the individuals are heterogeneous in terms of loss severity, loss probability, or income level, providing a tax deduction for the individual’s net losses may not always achieve a Pareto improvement, and cross subsidization should be taken into consideration.

Put me in,Coach, I’m ready to play

This paper explores the connection between discrimination and entrepreneurship. To pursue this inquiry we focus on the integration of black players in Major League Baseball (MLB). MLB team owners, acting as entrepreneurs, had to weigh the benefits of integrating versus the costs of alienating consumers who had a taste for discrimination against hiring blacks. We find that the owners whose teams could profit by contending for the league pennant with the addition of black players were the ones who were willing to take the risk of integrating, although integration often stood in contrast to revealed consumer preferences. In addition to illuminating the mechanism through which integration took place, we offer a general understanding of how the costs and benefits associated with consumers’ taste for discrimination can change via entrepreneurial activities.