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1.
Kazuhiko MIKAMI 《Annals of Public and Cooperative Economics》2016,87(2):203-215
It is well known that many non‐profit firms coexist with government firms in industries that provide collectively consumed goods and services, such as education, healthcare, social services, and art and culture. This paper explores the specific circumstances under which non‐profit firms can emerge as alternatives to the government. We show that a non‐profit firm emerges only when the residents’ median preference for a collective good is significantly low. This finding implies that, somewhat paradoxically, a non‐profit firm emerges to replace the government and provide a collective good only when the majority of residents consider the good non‐essential. 相似文献
2.
Klaus Gugler 《Applied economics》2018,50(55):5996-6009
This article examines the dynamics of bank profitability in the USA, Germany, Great Britain, France, Italy and Switzerland over the period 1993–2014. We find long-run bank profit persistence in all six countries in the period before the financial crisis in 2008. Banks with large capital ratios are persistently more profitable, and there is little evidence of a link between bank size and the persistence of bank profits. Commercial (saving) banks are persistently more (less) profitable in four of the six countries. The effects of the financial crisis in 2008 differed dramatically across countries as well as across ownership types. While US banks experienced dramatic declines in the immediate aftermath of the crisis, they recovered much faster than their European counterparts and essentially retain their long run profit potential by the year 2014. 相似文献
3.
We consider a firm's problem of incentivizing its workforce through relational contracts, when workers effectively face a shorter time horizon due to possible separation shocks. Commitment issues then generate a trade-off between efficiency and distribution, which affects both performance and profits. Profits under relational contracting can exceed those under formal contracting, despite lower performance, when discounting is moderate, firm bargaining power is weak, and shocks are likely. Using a matched employer–retirement plan dataset, and interpreting discretionary profit-sharing plans and employee stock ownership plans as relational and formal contracting, respectively, we find some support for our predictions. 相似文献
4.
Johan WILLNER Sonja GRÖNBLOM Annina KAINU Johan FLINK 《Annals of Public and Cooperative Economics》2018,89(2):415-436
We ask how the scope for non‐profit objectives in a state‐owned enterprise (SOE) in a mixed oligopoly changes because of competition from firms in another country. There is no change if costs and demand are given, unless the trade partner is a low‐cost country. However, the scope for non‐profit objectives is limited by the country's relative size if wages are market‐clearing and if workers and firms are stationary, because of reduced competitiveness caused by higher real wage rates. The total surplus is then not affected by the actions of the SOE. International trade does not otherwise reduce the scope for its non‐profit objectives if workers and firms are mobile, but productivity differences might require restrictions in order to avoid a complete relocation of the workforce in either country. 相似文献
5.
Johann Burgstaller 《Annals of Public and Cooperative Economics》2020,91(2):269-301
This paper analyzes technical and scale efficiency of Austrian savings and cooperative banks. Non‐profit objectives are also considered with respect to input–output choice, which contributes to adequate performance measurements for alternative banks. Efficiency score estimates obtained via Data Envelopment Analysis (DEA) reveal considerable potential for improvement in terms of intermediation efficiency. Several environmental determinants prove significant, but the cumulative predictive content of exogenous factors is rather modest. Bank efficiency improves in both underdeveloped and prosperous markets, while increased rival size and distance appear to be detriments to efficiency. A concluding discussion of confounding factors reveals the managerial, stakeholder, and policy implications of the results. 相似文献
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7.
本文通过对我国西南边陲某市（州）非公经济发展情况的调查，分析了该市（州）非公经济发展的势头、前景以及影响该地区非公经济发展的税收制约因素。结果表明，国家税收政策和地方性税收政策在地方非公经济发展过程中存在着一些不合理的条款和问题，与此同时，我们也提出了若干具有可行性的改进意见。 相似文献
8.
不同资本-市场经济中的赢利能力是不同的,赢利能力较低的国有资本,而赢利能力强的是非公有资本,在执行同股同权的公司制企业中,应当防止形成非效率资本支配效率资本的局面,从而影响产权多元化改革之后经营机制的转变。为此,本提出,在国有企业进行产权多元化改革的过程中,应当坚持以效率资本为主导的原则,要正确理解提高国民经济控制力的要求,要解放思想,对非公有经济的地位、作用应当有一个全面深入的认识,让国有资本在公司制企业中搭其他类型资本的便车。 相似文献
9.
Tarlok Singh 《International Review of Applied Economics》2004,18(3):349-368
This study estimates and compares the competing optimising and non‐optimising balance of trade models using Indian data. The results obtained from the optimising model suggest that the prices relative to user cost of capital and the real wealth lead to a deterioration, while the real capital stock results in an improvement in trade balance. The estimates of conventional non‐optimising balance of trade model show the significant effect of domestic income and real exchange rate and the insignificant effect of world income on the balance of trade. The error correction models reinforce the long run estimates and show the significant effect of lagged equilibria on the balance of trade. The non‐nested hypothesis tests provide mixed evidence for the preference of one model over the other. The J test suggests that the optimising model outperforms the non‐optimising model, while the F test shows that both these models are acceptable in explaining the balance of trade. 相似文献
10.
Talip Kilic Calogero Carletto Benjamin Davis Alberto Zezza 《Economics of Transition》2009,17(3):587-623
This study uses data from the 2005 Albania Living Standards Measurement Study survey to assess the impact of past migration experience of Albanian households on non‐farm business ownership through instrumental variables regression techniques. Considering the differences in earning potentials and opportunities for skill acquisition in different destination countries, we differentiate the impact of past household migration experience by main migrant destinations. The study also explores the heterogeneity of impact based on the timing of migration. The empirical results indicate that past household migration experience exerts a positive impact on the probability of owning a non‐farm business. While one additional year in Greece increases the probability of household business ownership by roughly 6 percent, a similar experience in Italy or farther destinations raises the probability by over 25 percent. Although past household migration experience for the period of 1990–2000 is positively associated with the likelihood of owning a household enterprise, a similar association does not exist for the period of 2001–2004. 相似文献
11.
We explore how increased competition affects firms’ obfuscation strategies in a laboratory experiment. Firms sell a base good and an add‐on product. Besides choosing the base‐good price, sellers take an action that mimics the effects of shrouding the add‐on product. Shrouding is an equilibrium but an unshrouding equilibrium coexists. In our experiment, more competition matters, in that only duopolistic markets are frequently shrouded whereas four‐firm markets are not. With repeated interaction, shrouding rates do not increase. However, the opportunities to shroud facilitate tacit collusion on the base‐good price for the duopolies: the unshrouding equilibrium serves as a credible punishment if deviations occur. 相似文献
12.
《Economic Papers: A journal of applied economics and policy》2017,36(4):416-428
This study examines the effects of ownership structure on firm performance of manufacturing companies listed on the Ho Chi Minh Stock Exchange using the system‐GMM estimator. The empirical results show a cubic relationship between managerial ownership and Tobin's Q, that is, positive, negative and positive, meanwhile block ownership has no impact on firm performance. This implies that internal managerial incentives play a more important role than shareholders' external monitoring in improving corporate governance quality. We also found an inverted U‐shaped relationship between state ownership and Tobin's Q, indicating that partial privatisation possibly is an efficient way to improve firm performance. 相似文献
13.
Kazuhiko Mikami 《Annals of Public and Cooperative Economics》2020,91(2):169-189
In the market for live classical music, a symphony orchestra typically has fixed costs that are high relative to demand, so that the demand curve lies entirely below the average cost curve (Baumol & Bowen, 1966)—a situation in which a for‐profit enterprise cannot survive. The present study aims to explain how a non‐profit orchestra can survive in such an adverse market environment by relying on private donations, even in the absence of altruism. We argue that a financially distressed orchestra may employ a strategy to impose a non‐profit distribution constraint on itself—thus becoming a non‐profit, tax‐deductible organization—and use its member musicians' worker surplus to produce donor privileges, which enables the orchestra to induce donations from an individually rational audience by taking advantage of a tax deduction scheme. With this strategy, the orchestra can successfully extract consumer surplus from the audience to offset its loss. 相似文献
14.
Sarath Delpachitra Laurence Lester 《Economic Papers: A journal of applied economics and policy》2013,32(2):190-199
Changes in operating environments have led banks to lighten their reliance on conventional model of banking and create diversity. Whether such diversity in banking operations changed the risk‐ return profile of the industry and the traditional focus of financial intermediation are the empirical questions investigated. Further this study examined whether access to sophisticated financial instruments by the major banks has impacted the competitiveness and performance banking tiers. The results suggest that, overall, non‐interest income and revenue diversifications reduced profitability and did not improve the overall default risk of banks and any further expansion into non‐interest income activities would not benefit banks. 相似文献
15.
跨国公司产权归属问题的一种新解释 总被引：1，自引：0，他引：1
本文从企业存在的两种形态－－物质形态和价值形态出发,将跨国公司的产权划分为直接产权与间接产权,二者都有物质与价值之分。直接产权的主体是公司的经营管理者或公司的投资者;公司的间接产权包括个体间接产权和国家间接产权,其主体分别是公司内部或公司投资组织内部的职工、公司所在地或投资者所在的国家;跨国公司的不同产权之间是一种既统一又分离的关系,公司直接物质产权与直接价值产权完全分离为跨国公司的形成提供了可能,子公司的个体间接物质产权与个体间接价值产权、子公司的国家间接物质产权与国家间接价值产权同时分离是跨国公司的经营范围超出国界的产权原因。 相似文献
16.
《Journal of Economic Policy Reform》2013,16(4):323-331
This study seeks to explore the impact of a moral hazard problem in the Joint Forest Management (JFM) programme between the government and forest fringe communities of a province in West Bengal, India. It suggests that if there is no incentive plan for the poor, it is hard for the government to monitor their actions. The poor tend to take welfare subsidies and yet harvest optimally. A good incentive fee dependent on their work (output) is required for livelihood sustenance of poor people and sustainability of forest resources. 相似文献
17.
We argue that the costs of antidumping (AD) protection are substantially higher than standard tariff analysis would suggest. First, since AD duties are often adjusted during administrative reviews, the welfare cost of AD duties increases over time. These adjustments effectively transfer heavily distorted AD revenue to foreign firms. Second, AD duties are more costly than simply the visible costs of AD protection. There are significant additional costs associated with the prospect of protection imposed when foreign and domestic firms alter their profit maximizing behavior in order to influence the outcome of potential AD investigations. These costs may exceed the direct cost of AD duties. 相似文献
18.
Umut Kılınç 《Economics of Transition》2014,22(3):397-432
This paper attempts to find a robust method of measuring competition when firms' operational activities are subject to frictions. The first part theoretically tests the indicative quality of two competition measures, the price‐cost margin (PCM) and the profit elasticity, in a model of monopolistic competition. The second part studies the empirical performance of the indices for a panel of Ukrainian manufacturing firms. This study offers a new approach to measuring profit elasticity that relies on structural estimation of a production function. The estimation methodology retrieves a productivity index that is adjusted to imperfect competition. The proposed method of measuring profit elasticity is found to be robust to frictions, but the PCM and traditional profit elasticity are biased, especially when the intensity of competition is low. Empirical findings show that competition exhibits a significantly positive correlation with aggregate productivity performance, while its impact on firm productivity is nonlinear. 相似文献
19.
Alexander Tarasov 《The Scandinavian journal of economics》2012,114(4):1296-1317
There is strong evidence suggesting that different income groups consume different bundles of goods. Hence, trade liberalization can affect welfare inequality via changes in the relative prices of goods consumed by different income groups (the price effect). In this paper, I develop a framework that enables us to explore the role of the price effect in determining welfare inequality. I find that trade liberalization does benefit some income classes more than others. In particular, I show that the relative welfare of the rich with respect to that of the poor has a hump shape as a function of trade costs. 相似文献
20.
构造与市场经济相适应的现代公有制形式 总被引：5，自引：0，他引：5
公有制的改革与发展问题是建设有中国特色社会主义经济的核心问题。要完善社会主义初级阶段基本经济制度，实现公有制与市场经济的结合，只在公有制的实现形式上做文章是不够的，还必须高度重视和认其解决公有制本身的存在形式即公有制形式问题。 相似文献