首页 | 本学科首页   官方微博 | 高级检索  
相似文献
 共查询到20条相似文献,搜索用时 0 毫秒
1.
By examining the relation between the employee welfare index and the choice between lines of credit (LC) and cash holdings, we provide empirical findings consistent with monitored liquidity insurance, agency, and tax theories. There is a negative relation between the LC-to-cash ratio and the employee treatment index, which is more pronounced for firms with large intangible assets. Additionally, this negative relation is observed only in low agency firms, which is consistent with the prediction of agency theory of cash holdings. Firms increase LC to meet future investment opportunities rather than increasing cash holdings when their marginal tax rates are high.  相似文献   

2.
Gender, piece rates and wages: evidence from matched employer-employee data   总被引:1,自引:0,他引:1  
Why are women disproportionately on piece rates? We investigatethree possible explanations: (1) Women are more likely to beon piece rates, because they have a shorter expected tenurethan men. (2) A greater demand for flexibility between workand home attracts women to work place technologies suitablefor variable pay based on individual performance. (3) Womenprefer piece rates, because they are subject to less wage discriminationwhen objective performance measures are available. The weightof our empirical evidence supports the third hypothesis. Theunexplained gender wage gap is substantially smaller in thepiece-rate regime than in the time-wage regime.  相似文献   

3.
National economies used to be characterised by cultural standardisationand social protection. Globalisation pushes cultural standardisationbeyond the boundaries of national states and induces a globaldilution of the standards of social protection. At the sametime, if national economies specialise according to their comparativeinstitutional advantage, global economic integration may helppromote institutional diversity and variety in welfare policies.However, the institution of a global system of intellectualproperty rights may seriously limit the ‘biodiversity’of capitalism and imply a global revenge of a new internationalform of Taylorism. The overall result may be a very unequalaccumulation of intellectual capital. Paradoxically, the modernglobal economy may end up sharing some aspects of the agrariansocieties that have been displaced by modern nation states.  相似文献   

4.
This paper examines the effect of formal financial intermediation (inclusion) on informal financial intermediation and the use of cash for economic activities. Using data from the Global Findex 2014, we examine whether the use of formal financial intermediaries reduces cash preference and the use of informal financial intermediaries. Our empirical results show that informal financial intermediation is positively associated with formal financial inclusion. This indicates that the relationship between informal and formal financial intermediation is complementary rather than a trade-off, which demonstrates the importance of informal finance plays in the financial system of Africa. Moreover, the use of formal financial intermediaries significantly reduces the preference for holding cash, implying that a robust financial system infrastructure has the potential of mobilizing excess liquidity in the informal economy of Africa for growth and development.  相似文献   

5.
Theoretical and empirical literatures have identified several channels through which foreign direct investment (FDI) influences economic growth. This paper examines the impact of FDI on economic output growth per worker using aggregate production function augmented with FDI inflows, economic policy reforms and institutional constraints. The paper covers 80 developing countries over the period 1980–2006. We use panel data and employ fixed, random effects and GMM methods for estimation. Our results highlight the importance of FDI, policy reforms and institutional development for growth in developing economies. Finally, we demonstrate that irrespective of reforms and institutions, an increase in FDI affects output growth positively.  相似文献   

6.
This paper explores the rebalancing of prices for voice service in the United States (US) and the European Union (EU) from conceptual and empirical perspectives. We determine the overall cost and structure of a standardized basket of residential and business services. Our data indicate that during the 1994–2000 period the degree of rate rebalancing was significantly higher in the EU than in the US. While the developments at the level of EU Member States are more heterogeneous and the process of rate rebalancing is not completed, these findings correspond to the predictions derived from our comparative institutional analysis.  相似文献   

7.
The paper investigates the co-evolutionary patterns of the dynamics of technological alliances and of the structure of the knowledge base in the pharmaceutical sector. The main hypothesis under scrutiny is that technological alliances represent a key resource for firms in knowledge intensive sectors to cope with dramatic changes in the knowledge base, marked by the introduction of discontinuities opening up new technological trajectories. Using patent information and data on technological alliances drawn from the CATI-MERIT database, we compare the evidence concerning the so-called triad regions, i.e. United States, Europe and Japan. The empirical results support the existence of a life cycle in biotechnology affecting the pharmaceutical industry. Furthermore, the dynamics of alliances is found to depend on (i) the phase of the biotechnology life cycle, (ii) the strength of the region in biotechnology and (iii) the general features of the economic environment of the region.  相似文献   

8.
所谓制度变迁,就是指制度的替代、转换与交易的过程。实质上,制度变迁就是一种更高效的制度对另一种更低效的制度的替代过程,即一种新的更有效率的制度的产生过程。因此,着重论述了制度变迁的成因、启示和基本理论。通过对制度变迁的成因、启示和基本理论进行明确的阐释,不仅有助于研究和分析有关和相关制度变迁方面的问题,而且也有益于更好地理解和运用制度变迁基本理论。  相似文献   

9.
There is an increasing economic literature considering personality traits as a source of individual differences in labor market productivity and other outcomes. This paper provides an overview on the role of these skills with a particular focus on measurement and estimation. Based on the relevant literature from different disciplines, common psychometric measures used to assess personality are discussed and critical assumptions for their applications are highlighted. Moreover, we report and describe ideas of recent research that aims at incorporating personality traits into economic models of decision making. Based on these foundations, the main results of the empirical literature regarding noncognitive skills are summarized. Finally, we provide a brief guide to econometric analysis with consideration of common econometric pitfalls that evolve in empirical analysis of personality traits and review possible solutions.  相似文献   

10.
Business model innovation is one of the firm’s most important strategic decisions. Top management team (TMT), as the critical decision-makers, has essential influence upon such decisions. However, the role of TMT diversity in shaping the performance of business model innovation is less explored in the literature. Based on a sample dataset of 906 observations of small and medium enterprises from China Startups Stock Market during the period of 2009–2011, we find that TMT diversity exhibits a significant threshold effect on the relationship between business model innovation (in terms of novelty-centred and efficiency-centred business model) and firm performance. More specifically, when TMT functional diversity arrives at a certain level, the positive relationship between novelty-centred business model and firm performance becomes more pronounced. On the other hand, the positive relationship between efficiency-centred business model innovation and firm performance will be more significant when TMT tenure diversity increases to a certain level.  相似文献   

11.
This paper uses 1994-95 faculty salary data from over 1,100 four-year U.S. academic institutions, about one-fourth of them with collective bargaining agreements, to ask if faculty unions make a difference to gender pay equity. Average gender salary differences are negative at every rank and at every category of U.S. institution with or without collective bargaining agreement. Unions may improve gender salary differentials somewhat, particularly at the assistant professor level. There is no evidence that this gain will be lost at higher levels, and mixed evidence that further gains occur for women at the full professor level. The most pervasive and robust consequence of unions is to increase the positive impact that higher proportions of women at senior faculty ranks make on relative salaries at the assistant professor level. However, the influence of these higher-ranked women on gender salary inequalities at the associate and full levels is lower in union schools than nonunion schools. By reducing the flexibility of existing salary structures, collective bargaining apparently reduces the influence of senior women faculty on the salaries of current women faculty members while increasing their attention and influence at entry levels.  相似文献   

12.
This article investigates the effects of innovation attempts on the venture capital and investment activity in the cases of the selected European Union plus European Free Trade Agreement countries using annual panel data and by controlling for real income growth and business sophistication. Our findings suggest that innovation has positively significant effects on venture capital in the cases without opt-out countries (United Kingdom and Denmark); however, these effects become negative in the cases with opt-out countries. Policy implications are provided in the conclusion section of this study.  相似文献   

13.
性别工资差异中的企业效应   总被引:5,自引:1,他引:5  
现有对性别工资差异的研究大多是基于个人样本的分析而忽略了企业的作用。本文运用企业和工人匹配的调查数据研究性别工资差异中的企业效应。研究发现,在工资决定方程中加入企业效应后工人的教育回报显著下降,且在性别工资差异的分解中加入企业效应后禀赋效应和价格效应所占的比例也显著下降,企业在性别工资差异中有着非常重要的作用。进一步研究发现,企业的外部市场环境和内部制度特征是决定企业性别工资差异程度的重要因素,市场竞争激烈的企业、经常采用计件工资制的企业以及内部职工收入差距较大的企业性别工资差异较大,小规模企业和私有产权比重较大的企业也呈现较大的性别工资差异,但工人的谈判能力有缩小性别工资差异的作用。  相似文献   

14.
Using panel data for 29 source and 65 host countries in the period 1995–2009, we examine the determinants of bilateral FDI stocks, focusing on institutional and cultural factors. The results reveal that institutional and cultural distance is important and that FDI has a predominantly regional aspect. FDI to developing countries is positively affected by better institutions in the host country, while foreign investors prefer to invest in developed countries that are more corrupt and politically unstable compared to home. The results indicate that foreign investors prefer to invest in countries with less diverse societies than their own.  相似文献   

15.
This paper provides an empirical analysis of the growing institutional divergence of systemic transformation in the countries of Eastern Europe and the former Soviet Union. Based upon the institutional theory of economic and legal systemic change, we empirically analyse reforms in a sector where the transformation process proved to be particularly tough: the energy sector. We test to what extent reforms reflect the ideal types seen in Western contexts (e.g. Anglo-Saxon and French), and to what extent new models have emerged. By generalising the results from the energy sector, one key finding emerges: starting from similar reform projects, transition in Eastern Europe has led to fundamentally different outcomes, of which we identify three ideal types: i) the reforming Central/Eastern European market economy; ii) the post-Soviet mixed economy; and iii) the Caspian state economy.  相似文献   

16.
Bina Agarwal   《Ecological Economics》2009,68(11):2785-2799
Would enhancing women's presence in community institutions of forest governance improve resource conservation and regeneration? This paper focuses on this little addressed question. Based on the author's primary data on communities managing their local forests in parts of India and Nepal, it statistically assesses whether the gender composition of a local forest management group affects forest conservation outcomes, after controlling for other characteristics of the management group, aspects of institutional functioning, forest and population characteristics, and related factors. It is found that groups with a high proportion of women in their executive committee (EC)—the principal decision-making body—show significantly greater improvements in forest condition in both regions. Moreover, groups with all-women ECs in the Nepal sample have better forest regeneration and canopy growth than other groups, despite receiving much smaller and more degraded forests. Older EC members, especially older women, also make a particular difference, as does employing a guard. The beneficial impact of women's presence on conservation outcomes is attributable especially to women's contributions to improved forest protection and rule compliance. More opportunity for women to use their knowledge of plant species and methods of product extraction, as well as greater cooperation among women, are also likely contributory factors.  相似文献   

17.
Scenario planning has formed a growing area of interest on the interface of academia and public and private sector policy-making. While methodological approaches are well covered in the academic literature, less attention has been paid to studying the use, impacts and effectiveness of scenario planning in public policy-making. This article combines preliminary findings from a review of evaluative scenario literature with workshop discussions among scenario practitioners, using environmental relevant policies as a case study. Subject to the nascent evaluative scenario literature, our preliminary findings highlight that scenario planning still is often executed in a rather ad-hoc and isolated manner and is mostly geared towards indirect decision support such as agenda-setting and issue-framing. The slim evidence base aggravates the assessment, but the potential of scenario planning to prepare public policy-making for the uncertainties and surprises of future developments and better manage complex decisions involving conflicting societal interests is clearly not fully utilized. Political and institutional context factors need to be treated with greater care in the future. Making better decisions under conditions of deep uncertainty does not only require rigorous analysis, but also political will and more stable institutional settings and organisational capacities to build up trust and experience with adaptive, flexible process formats. We synthesize our analysis with a discussion of further research needs.  相似文献   

18.
Progress towards equal opportunities is critically dependent upon the development of a more equal and more balanced allocation of time in both paid and unpaid work. Gender divisions relating to working time arise primarily from differences in gender divisions within the household but the extent and form that these gender divisions take in the labor market are moderated or mediated by national working-time regimes. These regimes are found to be extremely diverse across Europe with very different implications for gender equality. Current interests in greater flexibility in working time are leading to pressures to changes in working-time regimes and to an increase in the extent of unsocial hours working. The strategies adopted to meet these pressures may vary by country and sector but the restructuring of working time is also likely to be influenced by gender factors and divisions. The result may be increasing differentiation by both gender and class. Progress towards equality requires a renewal of interest in reducing standard working hours and a questioning of the current assumption that increasing unsocial hours working is essential for competitiveness.  相似文献   

19.
This paper uses a historical experiment - the occupation of South Eastern Europe by the Ottoman Empire - to shed light on the persistence of financial development. Interest-lending prohibition persisted under Islamic rule much longer than in the rest of Europe. The unique history and political fragmentation of the region allows investigating within-country effects, in six countries that were formerly only partly occupied by the Ottoman Empire. Former Islamic rule is consistently associated with lower contemporaneous formal financial development, both across and within countries. It is associated with a decrease in bank penetration by 10% across countries and 4% within countries. However, within country, the effect of the Ottoman Empire is confined to financial development. There is no association between former Ottoman rule, income, small and medium sized enterprise development or entrepreneurship. The effect is robust to controlling for a wide number of observable characteristics. Moreover, localities with Armenian, Jewish or Greek minorities, who were allowed to practice interest lending under Ottoman rule, have higher levels of bank penetration. By contrast, Islamic religion and trust in the financial system play no role in explaining such long-term persistence.  相似文献   

20.
In the first part of the paper, we try to clearly identify financial innovations and draw a general framework. Despite the relevance of financial innovations, a unique definition is difficult to find. We then provide empirical evidence of such innovations on a sample of Italian and UK listed banks over the period 2005–2007 using financial account data. First, the absence of any mention of a specific organizational unit in charge of research and development (R&D) is highlighted. However, the existence of a research and developmental function involving different organizational units cannot be excluded. Second, innovation seems to be mainly concentrated in the product area, both in Italy and in the UK. This could be accounted for by the difference in the “life cycles” of innovations and by the different operational conditions of banks in both systems. Third, larger banks seem more innovative, both in Italy and in the UK. No clear relation between innovation and cost reduction/revenue increase seems to exist, at least in Italy. In the light of the above considerations, policy implication comes to light on whether the choice of not establishing a specific organizational unit dedicated to R&D could turn out effective in the medium-long term.
Francesca ArnaboldiEmail:
  相似文献   

设为首页 | 免责声明 | 关于勤云 | 加入收藏

Copyright©北京勤云科技发展有限公司  京ICP备09084417号