New development: Between politics and strategic planning—the management of government priorities in Lithuania

ABSTRACT

How do political agendas impact on strategic planning practices? This article shows that recent changes to the framework for managing government priorities have made Lithuania’s strategic planning system more politically responsive by mobilizing political attention, leadership and state funding to major government commitments. However, these changes have not yet translated into any longer term outcomes because policy implementation practices did not change very much.     

Versicherungswissenschaftliche Dissertationen und Habilitationen 1998/99 (stand: 1. 9.1999)

Materialien

Versicherungswissenschaftliche Dissertationen und Habilitationen 1998/99 (stand: 1. 9.1999)     

Der Third-Person-Effekt — Über den vermuteten Einfluss der Massenmedien

The third-person effect claims that people generally suppose others to be more influenced by mass media than themselves. It is one among several perceptual phenoma that offer deeper insights into the media’s role in society and media impact. Almost 100 empirical studies of the third-person effect have so far been published, mainly in North America. They consistently support the phenomenon and additionally address its causes and consequences. This article contains a systematic overview of these studies, their findings and their theoretical explanations for the third-person effect. However, extensive theoretical work on the causes for the evidently solid difference between self-perception and perception of others is still lacking. In order to close this gap we develop an integrative theoretical model in which the third-person effect is linked to other perceptual phenomena (hostile-media phenomenon, optimistic bias, pluralistic ignorance, looking-glass effect). We assume that the perception of (alleged) media impact results in real behavior and therefore should play an important role in media effect theories. Moreover, this could lead to a conceptual extension of these approaches.     

Relative consumption and majority voting: supplementing Oates’ “Decentralization Theorem”

This paper reconsiders the question of whether centralized or decentralized provision of local public goods is preferable, taking into account two new elements: the appearance of relative consumption effects and the possibility of an inefficient election outcome due to a right-skewed income distribution. Surprisingly, our results indicate that (1) decentralization may lead to a strictly higher welfare level than centralization, even if regions are homogeneous, and (2) under certain circumstances centralization may be welfare superior, even though traditional public good spillovers are not considered in our framework. Whether centralization or decentralization is preferable crucially depends on the extent to which social interaction takes place between regions.     

Understanding the urban travel attitudes and behavior of Tbilisi residents

In recent decades the public transport network in Tbilisi, Georgia has decayed, while the number of private automobiles has increased dramatically. This study seeks to expand our understanding of the Tbilisi population’s urban transport attitudes and behavior. It elaborates on the perceived strengths, weaknesses, and potentials of the public transport system, and seeks to understand the reasons for the increased use of private automobiles. A questionnaire survey was conducted among Tbilisi car drivers (n=159) and public transport users (n=163). The results show that most of the survey respondents preferred to use a private car and avoid using public transport. Particularly important factors include time issues such as schedules and frequency, plus comfort and safety issues. Tbilisi residents value their time and want to use it efficiently. Changing residents’ travel behavior will require making the public transport options competitive with the perceived advantages of the car. The study offers recommendations for more effective urban transport policy, including incentives to encourage greater use of public transport in Tbilisi.     

The impact of governance characteristics on the stock price of cross listed companies

The study examines the relationship between the country-specific governance characteristics of the origination country and the post-listing returns of cross-listed firms. In addition, the study researches the relative impact of those governance indicators on the abnormal returns of cross-listed stocks following the passage of the Sarbanes-Oxley (SOX) Act. The positive abnormal returns experienced by foreign companies around their listing in the U.S. are shown to be driven by the governance indicators of their home countries, i.e., the worse the governance characteristics of the origination country are, the higher the abnormal return for a cross-listed firm is. The governance indicators that influence abnormal returns to the highest degree are director liability, rule of law, control of corruption, political and economic development, and the integrity of the legal system. The abnormal returns generated by cross-listed foreign firms after the adoption of SOX are higher than those experienced by cross-listed foreign firms in the pre-SOX period. This outcome is pronounced for companies which score the worst on the combined set of country-specific governance characteristics. Thus, the main implication of the study is that foreign companies with a specific set of governance characteristics should consider listing on the U.S. stock markets. To be specific, companies from countries with lower governance standards, as reflected in low scores on director liability and control of corruption, are likely to derive the highest benefits from cross- listing on the NYSE or NASDAQ exchanges.