共查询到20条相似文献,搜索用时 15 毫秒
1.
While aggregate level pay equity comparisons between Australia and the UK confirm expectations based on their different wage distributions and regulatory systems, observation of trends and occupational level analysis reveal additional complexity. Our analysis suggests the need for a multi‐faceted approach to closing the average gender pay gap. 相似文献
2.
Ulrich Thießen 《Economics of Planning》2004,37(1):1-23
Effects of fiscal federalism on redistribution and economic growth are analyzed for Ukraine, a country with large regional differences. Since there is virtually no such empirical literature, except a study of the German case, and since there are several potential flaws, the results must be interpreted in a very tentative way. We find that this relatively poor, disorganized country with little democracy has effectively redistributed income from relatively wealthy to relatively poor regions and thus promoted regional economic convergence, and even dampened the recession in both types of regions. We also find that the evidence does not reject the view that relatively poor regions used the transfers in a growth-conducive fashion, and the paper argues that the findings may have implications beyond the case of Ukraine. But the analysis is tricky, uncertain, and merely a small step to an interesting research issue. 相似文献
3.
Nobuyuki Teshima Akinobu Shuto 《Journal of International Financial Management & Accounting》2008,19(2):107-132
This paper examines the relationship between managerial ownership and opportunistic managerial behavior relating to earnings management. Economics theory identifies two apparently conflicting effects of managerial ownership on managers' incentives: the incentive alignment effect and the management entrenchment effect. We construct a theoretical model demonstrating the two effects. This model suggests that as managerial ownership increases, earnings management decreases for both high and low levels of managerial ownership, while it increases for intermediate levels of managerial ownership if the sensitivity of the probability of managerial dismissal to the corporate performance is high enough and/or the manager's private benefit derived from managerial position is high enough. In a sample of Japanese firms, we find a significant nonmonotonic relationship between managerial ownership and discretionary accruals, consistent with our model. 相似文献
4.
5.
This study provides empirical evidence of managerial agency costs in socialistic internal capital markets. Listed Chinese companies are required to disclose the amount of resources that are reallocated to other firms of the parent company, which provides us with a direct measure of the socialistic subsidization of weak member firms by strong member firms within a business group. We hypothesize that in strong member firms, managerial compensation is less sensitive to firm performance because cross‐subsidization makes it difficult for group CEOs to hold the managers in strong firms accountable for their own firms' performance, and also increases the noise in performance measures. We also hypothesize that socialistic cross‐subsidization results in an increase in managerial agency costs of strong member firms due to the low pay‐performance sensitivity and low incentive to work hard. We document empirical results that are consistent with these two predictions. 相似文献
6.
We estimate the effect of peers' prior achievement on student progress in secondary school, using administrative data on four cohorts of students in England. Students leaving primary for secondary school experience a big change in their peer group and these changes vary randomly from cohort to cohort. We exploit this variation to identify the effect of new peers on student achievement. We show that peer quality on entry to secondary school has a significant effect on students' subsequent achievement at age 14. The effect sizes are relatively small and are linked to peers' family background and early age achievements. 相似文献
7.
This study provides some insights into managerial perceptions of the costs, benefits, and net benefits of foreign listing through a survey of Canadian firms that have listed their securities on the foreign exchanges in the U.S. and U.K. Access to foreign capital markets and increased stock marketability are perceived to be the major benefits. The SEC reporting and compliance requirements are cited as the major costs of foreign listings. Overall, benefits are perceived to outweigh costs although not significandy. Managerial perceptions of positive net benefits are strongly linked to the levels of trading volume in their firm's stock on foreign exchanges. This study is useful for managers contemplating foreign listings. Our findings indicate that the listing decision requires careful scrutiny in terms of potential costs and benefits which may depend on many firm specific factors. Firms conducting most of their business abroad and issuing a greater percentage of equity abroad are likely to have a greater appeal for foreign investors irrespective of their size and industry. While multiple listings on foreign exchanges may not imply higher foreign trading volumes, fewer domestic exchange listings are associated with higher foreign trading volumes. 相似文献
8.
Recent arguments, motivated partly by the new fiscal theory of price level, suggest that fiscal deficits undermine price stability in transition economies. This paper addresses these claims by examining vector-autoregressive models of inflation for three transition economies (Bulgaria, Romania and Russia). The results indicate that fiscal deficits have increased inflation in Bulgaria and Romania but not in the case of Russia. In Bulgaria and Romania, money aggregates and exchange rate have also been more influential to inflation than fiscal deficits. The analysis based on this method therefore suggests that while fiscal deficits have some influence on inflation, monetary factors mostly determine inflation in these three countries. 相似文献
9.
AbstractWe use an unanticipated court ruling in a lawsuit against Citigroup claiming corporate waste related to CEO pay to analyse court intervention as an alternative governance mechanism in cases of excess pay. We find a negative relation between announcement returns and excess pay, consistent with shareholders of these firms perceiving court intervention as net costly. However, we find a positive relation between announcement returns and excess pay accompanied by poor performance, suggesting that intervention is welcome when pay is more egregious. Finally, we find that firms with excess pay and whose shareholders welcome intervention reduce future pay relative to other firms, suggesting that the threat of court intervention is a potential mechanism to control excess pay. 相似文献
10.
《上海立信会计学院学报》2015,(4):33-51
通过对173名中层管理者的问卷调查,研究了综合业绩评价系统(CPMS)对其角色清晰的影响,以及与其业绩的关系。结果表明综合业绩评价系统通过角色清晰所表现的过程清晰和目标清晰两个中介变量间接影响管理者业绩,且在国有和非国有企业中存在差异。研究在一定程度上综合了CPMS行为影响和中层管理者角色内容对业绩影响两部分内容,强调认知理论在解释管理控制系统对中层管理者业绩的影响作用,特别是CPMS影响中层管理者的角色认知。 相似文献
11.
Impact and desirability of land transfers in post‐socialist‐transition economies have been subject of considerable debate. We use data from Vietnam to identify factors conducive to the development of land markets and to assess potentially differential impacts of rental and sales. Results show that both rental and sales transfer land to more productive producers but that rental is more important for the poor to access land that becomes available as the non‐farm economy develops. The fact that secure land rights significantly increase supply of land to the rental market suggests that government has a key role in facilitating emergence and functioning of efficiency‐enhancing land markets. 相似文献
12.
转轨时期的工资差异:歧视的计量分析 总被引:18,自引:0,他引:18
王美艳 《数量经济技术经济研究》2003,20(5):94-98
消除城市劳动力市场上对于农村迁移劳动力的歧视性政策,消除城市劳动力市场的扭曲,使农村迁移劳动力融入城市生活,对于一个健康的城市化过程和经济发展是非常必要的。本文的研究表明,政府必须在这个过程中发挥主要和积极作用,尽量减少劳动力市场扭曲,消除对于农村迁移劳动力的歧视,加快培育完善的劳动力市场。 相似文献
13.
如何对企业家的高报酬现象做出合理解释,比赛理论在委托代理理论的框架下,从比赛竞争的角度指出,高报酬作为一种显示机制,能激励企业家及其竞争者的努力水平,降低挑选企业家的信息费用和监督费用。 相似文献
14.
15.
Ronald Zhao Benedicte Millet-Reyes 《Journal of International Financial Management & Accounting》2007,18(3):223-246
This paper investigates how family and bank ownership affect the accounting information content of French firms. In Continental Europe, the existence of block‐holders triggers specific corporate governance issues, including the transparency of financial reporting. Our test results for the clean surplus model show that book value carries a significantly greater weight for family‐controlled firms. This finding is attributed to their lack of incentive to report timely and relevant earnings to outside (minority) investors. In contrast, bank owners are under more market pressure to achieve earnings persistence through the use of accounting accruals. Bank ownership is also associated with higher levels of debt. These results are consistent with findings that in code law countries, insiders dominate as a source of finance, and financial reporting is aimed at creditor protection. 相似文献
16.
17.
18.
自2008年以来,因全球范围内经济形势突变,房地产行业被赋予拉动内需,促进中国宏观经济平稳、持续增长的重任。然而十年来房地产行业在经历了高速发展之后,已经对实体经济尤其是制造业产生了挤出效应,同时也造成了国民经济‘房地产化’社会财富分配不均加剧、银行、金融机构所承担风险加剧的一系列后果,随着中国政府一些列调控措施的出台,房地产行业已整体进入利润降低、增速放缓的时代。房地产行业因其自身发展的规律及社会发展的要求也决定了传统房地产企业以转型,求发展的必然性。此次将对处于转型期的房地产企业的资本运营进行研究。 相似文献
19.
本文立足于管理防御与资本结构关系这一研究主题,尝试将管理防御划分为管理者自身因素、内部治理机制和外部市场环境三个维度,分别从这三个维度来探讨管理防御对资本结构的影响。利用上市公司数据进行实证分析,得出结论,管理防御对资本结构具有负向影响,管理者自身因素、内部治理机制和外部市场环境因素影响企业的资本结构,但三个维度的影响程度存在一定的差异。 相似文献
20.
The purpose of this paper is to examine the factors that drive or prevent companies' implementation of sustainable supply chain management (SSCM) practices. To this end, we interviewed 29 senior managers from 23 New Zealand‐based companies. The key reported drivers were customer expectation, top management commitment, moral and ethical values of managers, reputation management, and economic and operational benefits. Conversely, cost concerns, strategic and structural restraints, supplier and customer issues, and a lack of effective regulations were cited as critical obstacles to SSCM implementation. Thus, the evidence from our findings provides support for both instrumental and normative logics for SSCM implementation. The findings further indicate that, in general, instrumental and normative logics are congruent; however, varied tensions arise when managers seek to simultaneously address competing yet desirable SSCM aspects. Accordingly, we argue that it is imperative to understand, work through, and manage such tensions as balancing divergent sustainability aspects holds considerable potential for successful SSCM implementation. 相似文献