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International Advances in Economic Research - This empirical study uses a hedonic pricing model and a dataset of Spartanburg, South Carolina homes from 2002 to 2005 to evaluate the effect of... 相似文献
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This article examines whether privatization affects managementincentives and provides an estimate of the magnitude of thechange. Using data from large firms in the United Kingdom, wefind no relationship between compensation and financial performancein state-owned firms, both before and after corporate governancereforms. In contrast, we find a strong sensitivity in privatizedfirms both immediately and in more mature privatized firms drivenlargely by stock options and shareholding. For more mature privatizedfirms, compensation and dismissal sensitivities are complementarywith our estimates, suggesting a £443,000 increase inmanagement returns for a one standard deviation improvementin firm performance. This estimated incentive intensity is higherthan in established publicly traded firms. Our results supportthe theoretical focus on incentives in the dominant theoriesof state and private ownership. 相似文献
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Nicholas Apergis Victoria Pekka-Economou 《International Advances in Economic Research》2010,16(4):371-387
The goal of this paper is to investigate entrepreneurial activity and to analyze the incentives of female participation in the labor market. Female entrepreneurial activity is closely related to social and economic issues. They represent a driving force, active and effective members of economic, political, professional and managerial societies. On the other hand, they have families with serious maternal responsibilities and inelastic household obligations, roles which they are trying to balance effectively. To that reason, specific actions and carefully designed measures are essential in encouraging and promoting them to engage into entrepreneurial activity. To investigate the issue of entrepreneurial activity, personal characteristics and various motivation incentives are examined in order to determine the major factors that may influence female entrepreneurial spirit in Greece. Obtaining data from 1600 industrial firms located in the prefecture of Piraeus over the period 1999–2009, this study makes use of the panel methodology approach to provide evidence about the main determinants of female entrepreneurship. What is found is that a combination of pull and push motives and effective mentoring framework, in addition to a set of personal characteristics such as risk of failure, educational level, creativity, innovativeness, ambitiousness and marital status, seem important for the encouragement of women entrepreneurship in Greece to start up a new business. The implications seem very substantial for the formulation and implementation of effective support policies and measures for female entrepreneurs’ vital start up and early stage period. 相似文献
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Adoption of safer irrigation technologies and cropping patterns: Evidence from Southern Ghana 总被引:1,自引:0,他引:1
The new irrigation technologies introduced in sub-Saharan Africa aim at ensuring safer vegetable production when untreated waste water is used as irrigation water. This paper examines the adoption of safer irrigation technologies and crop choices among vegetable farmers, using cross-section data from urban Kumasi in Ghana. The study employed a two-stage conditional maximum likelihood approach to examine the impact of crop choices and farm-level characteristics on the adoption of safer irrigation technologies. The empirical results indicate that apart from household and farm characteristics such as access to extension agents, belonging to a farmer's organization and education, cropping patterns tend to influence adoption of irrigation technologies for safer vegetable production. 相似文献
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本文以2000至2007年具有独特制度背景的欧盟15国资本市场上市公司为研究样本,对欧盟2005年1月1日开始全面推行国际财务报告准则并加强各国会计协调是否提高了欧盟上市公司盈余质量进行了研究。本文以截面操纵性应计利润绝对值作为盈余质量的替代变量,研究结果发现欧盟全面推行国际财务报告准则并加强各国会计协调后上市公司具有显著更低的截面操纵性应计利润绝对值,这表明欧盟全面推行国际财务报告准则并加强各国会计协调后显著提高了欧盟上市公司盈余质量。本文进行了一系列稳健性检验证实了上述研究结论是稳健的。 相似文献
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文章利用世界银行的企业微观调查数据对地方官员激励与企业产权保护进行了实证研究。研究发现:(1)地方财政分权程度越高、当地市委书记的年龄小于55岁,企业所获得的产权保护水平越高,反之则越低。(2)地方官员激励机制对产权保护的作用在不同规模企业中具有结构性差异。具体而言,在财税剩余所得激励下,地方官员更倾向于保护大企业,而在一把手晋升激励下,地方官员则更倾向于保护小企业。这与不同规模的企业对经济总量和增速有不同的边际贡献率有关,地方官员在财税剩余所得激励下更关心经济总量,而在一把手晋升激励下则更关注经济增速。 相似文献
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控制权与激励的冲突——兼对股权激励有效性的实证分析 总被引:23,自引:0,他引:23
控制权配置与激励安排是组织治理中的两个重要工具,本文首先从组织中委托人私人收益角度分析委托人控制权与代理人激励之间可能的冲突,进而通过上市公司数据对这一冲突关系进行经验检验。我们的研究发现,中国上市公司大股东控制权与管理层股权激励之间存在显著的冲突,而且这种冲突与股权性质、公司成长速度相关。民营控股公司中的冲突程度显著弱于其他类型公司,国资委控股公司中的冲突显著强于其他类型公司;而公司成长速度越快,大股东控制权与管理层激励之间的冲突越强。本文的研究结果能够很好地解释中国上市国有企业中股权激励效果不显著、甚至出现负效应的经验现象,并由此提出相应的政策建议。 相似文献
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基于中央政府、地方政府及农民的互动视角,采用博弈分析方法,系统考察了我国农村人居环境污染的逻辑机制。研究发现:我国农村人居环境污染的根源在于规制失灵;农村人居环境公共资源的“公地悲剧”不是必然现象,可以在农民之间建立一种自实施的自治机制,避免导致“公地悲剧”;由于利益目标的差异,中央政府与地方政府之间的激励问题、地方政府与农户之间的博弈行为,导致了农村人居环境规制失灵。研究启示是,制度的建立健全是农村人居环境治理顺利推进的保障,更将有利于乡村振兴战略的实施以及我国农村的可持续发展。 相似文献
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The paper examines the effect of inequality on growth among the subnational states in India. Theoretically, growth of the regional economy is driven by productive public investment in the provision of health and education services financed by a linear output tax, and the optimum tax rate is determined by the median voter. In contrast to existing results, the authors obtain an ambiguous relationship between initial inequality and subsequent economic growth. Analysis of the Indian state‐level data suggests that rural inequality influences growth of total output more than urban inequality, and does so negatively. The indicator of intersectoral inequality is more important in explaining sectoral output growth. 相似文献
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银行贷款损失拨备的影响因素分析——基于微观数据的经验证据 总被引:2,自引:0,他引:2
本文运用2001年至2008年50家银行总共207个数据来分析国内银行贷款损失拨备的决定因素。我们发现国内银行会根据当年的贷款损耗和上一年度的贷款损失储备来决定本年度的贷款损失拨备量,然而我们并没有得到银行的贷款损失拨备与未来不良贷款变动成正比。这说明我国银行可能还是主要根据过去的损失情况而不是根据估计未来可能出现的损失来决定贷款损失拨备的。同时,我们还考察了国内银行是否应用贷款损失拨备来调整资本比率、平滑收入以及作为显示银行未来经营状况的信号。我们的实证结果印证了前两个假设,但是却没有找到关于信号假设的有力证据。这一结论对于我国关于贷款损失拨备的会计处理提出了挑战。 相似文献
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平均化的分配方式和退出权的剥夺导致人民公社内部的作物生产激励不足。但由国家管制政策引起的作物生产激励问题经常被研究者所忽略。文章发展了信息分权基础上的国家承诺分析框架,由于工业化目标,国家通过建立人民公社以降低治理成本,其中,人民公社承担了收集、处理作物种植信息并提取相应农业剩余的职能,从而导致人民公社面临严重的外部激励问题。20世纪70年代末期,财政困境促使国家放松对农业部门的组织化治理,允许以家户为单位的作物生产方法。这事实上放松了对作物生产的信息控制,由信息分权引起的国家承诺具有可信性,有效地增加了农民权利的安全性及其生产激励,构成农业部门生产效率改善的重要源泉。 相似文献
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The Effect of Repeated Interaction on Contract Choice: Evidence from Offshore Drilling 总被引:2,自引:0,他引:2
We argue that repeated interaction and high-powered formal contractscan be either substitutes or complements, depending on the relativeimpact of repeated interaction on incentive problems and contractingcosts. In the offshore drilling industry, we find that oil andgas companies are less likely to choose fixed-price contractsas the frequency of their interaction with a driller increases.This supports the conclusion that repeated interaction and high-poweredformal contracts are substitutes in this setting, indicatingthat repeated interaction reduces incentive problems more thancontracting costs. In addition, we find that using instrumentalvariables to account for the endogenous matching of drillersto projects strengthens our results. 相似文献
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股权激励与财务重述——基于中国A股市场上市公司的经验证据 总被引:7,自引:0,他引:7
本文以2005—2007年中国A股市场实施股权激励的上市公司及其配对样本为研究对象,采用Logistic回归法,考察了股权激励与财务重述的相关关系。研究发现,实施股权激励的公司发生财务重述的可能性要显著高于未实施股权激励的公司;相比基于业绩的股权激励模式,实施基于股价的股权激励模式的公司发生财务重述的可能性更高。研究结论支持了有股权激励尤其有基于股价的股权激励模式的上市公司经营者可能有短期盈余操纵行为的观点。 相似文献
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Meiselman Ben S. Weigel Collin Ferraro Paul J. Masters Mark Messer Kent D. Savchenko Olesya M. Suter Jordan F. 《Environmental and Resource Economics》2022,82(4):847-867
Environmental and Resource Economics - To manage resources effectively in an agri-environmental context, policymakers need information about on-farm management practices and ecological conditions.... 相似文献
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Jang C. Jin 《Review of International Economics》2003,11(1):18-27
New growth theories suggest that an economy's increased openness raises domestic productivity, and hence must have a positive effect on the living standards of a nation. The North Korean economy, isolated from world trade for several decades and its economy devastated, provides a test for this implied causality. The possibility that the ultimate source of declining real gross national product since 1974 is a decrease in trade liberalization of the North Korean economy cannot be rejected. The results are more definitive when the sample is split into two subperiods, pre–1974 and post–1974. These findings are generally consistent with the conventional model in which free trade stimulates economic growth. 相似文献
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基于特定地区的工业投资是后发国家(或地区)干预经济的重要手段,但其长期政策效果却未引起足够关注.文章搜集整理了各种史料,构建了抗日战争时期后方十省的县级工业数据库,探究抗日战争时期大后方地区的工业投资对经济发展所带来的长期影响及其作用机制.研究发现:(1)如果1942?1945年间县内工业企业数量越多,那么其在新中国时期经济发展水平越高,不过该效应随时间逐渐减弱.(2)近代大后方地区的工业投资通过路径依赖和初始物质资本积累对长期经济发展产生了正向影响.历史上工业投资越高的地区,当下的工业化程度也越高,但工业企业的生产效率并没有显著差别.(3)历史上拥有更多工业投资的地区在当下能够吸引更多的人口迁入,同时拥有更高的城市化率,不过该历史基础并未显著影响与农村相关的变量,如婴儿死亡率以及农村居民纯收入等.上述结论说明,向特定地区的大规模投资可以帮助其更快地完成工业化,逆比较优势的产业布局在短期会带来效率损失,但在长期却可能带来正面效应. 相似文献
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僵尸企业的投资挤出效应:基于中国工业企业的证据 总被引:2,自引:0,他引:2
《经济研究》2017,(5):175-188
本文采用1998—2013年中国规模以上工业企业数据,研究了僵尸企业对非僵尸企业投资行为的影响。实证结果表明,一省的僵尸企业比例越高,当地非僵尸企业的投资规模越小,且这一挤出效应对私有企业尤为明显,而对国有企业并不显著。上述结果在不同固定效应设定、不同数据样本以及工具变量回归中均保持稳健。另外,僵尸企业对私有非僵尸企业投资的挤出在国家干预程度更强的地区和外部融资依赖程度更高的行业表现得更为明显。本文的研究显示,僵尸企业可能是造成近年民间投资疲软的重要原因之一,它减弱了金融对实体经济的支持。因此,一方面,政府应该积极推进国有企业和金融体系的市场化改革,消除僵尸企业形成的政策环境。另一方面,也要采取果断的市场化措施处置僵尸企业。 相似文献
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自选择问题对审计收费的影响--来自中国上市公司的经验证据 总被引:6,自引:0,他引:6
文章运用Chaney、Jeter和Shivakumar(2004)的研究方法,以2002年我国证券市场A股上市公司为研究样本,对自选择问题对我国审计收费的影响进行了经验性探索。研究发现:(1)自选择问题对审计费用存在显著影响,考虑自选择因素后,大所会调低对自己客户的审计收费,小所则反之;(2)不同规模的事务所对审计服务的定价方式存在差异;(3)选择大所的公司如果聘请小所,审计收费将会下降,说明这类客户偏好大所的高质量审计服务,并为此支付了更高的费用;选择小所的公司如果聘请大所,审计收费会显著上升,这部分公司可能出于降低成本才聘请了小所。 相似文献
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关于以薪养廉有效性的探讨:基于中国的经验 总被引:1,自引:0,他引:1
腐败的原因和治理对策是学界和实践部门共同关注的议题。许多人认为,公务员报酬过低是腐败产生的重要原因之一。在新加坡和香港地区高薪养廉的启发下,许多国家包括中国在不同程度上尝试通过以薪养廉来提升政府治理的质量。公务员收入过低无法保证正常的家庭生活开支。过低的薪酬有可能损害公务员保持个人诚信的努力,引致腐败行为。公务员薪酬的提高,甚至高于社会的平均工资水平,在此背景下"以薪"是否可以"养廉"?这是重要的理论和实践问题。基于实证数据,文章认为,公务员薪酬和廉政建设有着复杂的关系,对它们的相关性存在着一些认识上的误区。过去十余年间,我国公务员薪酬水平上升较快,腐败的程度也有所加深。 相似文献