Financial liberalization,financial regulation and bank efficiency: a multi-country analysis

This article investigates the impact of financial reforms on bank efficiency. More specifically, we distinguish between two different types of financial reforms, i.e. financial liberalization measures and measures of the quality of bank regulation and supervision (i.e. financial regulation), and study their relationship to bank efficiency separately. Moreover, we analyse whether the impact of financial liberalization on bank efficiency is conditional on the quality of regulation and supervision of the banking system. We apply stochastic frontier analysis to calculate bank efficiency at the individual bank level and use a new and detailed database that measures different aspects of financial reforms. The data-set consists of 87 312 bank-year observations covering 61 countries for the period 1996–2005. Overall, we show that the impact of financial liberalization policies on bank efficiency is conditional on the extent to which bank regulation and supervision has been adopted and developed.     

Diagonal effects in claims reserving

In this paper we present two different approaches to how one can include diagonal effects in non-life claims reserving based on run-off triangles. Empirical analyses suggest that the approaches in Zehnwirth (2003) and Kuang et al. (2008a, 2008b) do not work well with low-dimensional run-off triangles because estimation uncertainty is too large. To overcome this problem we consider similar models with a smaller number of parameters. These are closely related to the framework considered in Verbeek (1972) and Taylor (1977, 2000); the separation method. We explain that these models can be interpreted as extensions of the multiplicative Poisson models introduced by Hachemeister & Stanard (1975) and Mack (1991).     

Optimal Harvest in an Age Structured Model with Different Fishing Selectivity

An age structured model of a fishery is studied where two fishing fleets, or fishing agents, are targeting two different mature age classes of the fish stock. The agents are using different fishing gear with different fishing selectivity. The model includes young and old mature fish that can be harvested, in addition to an age class of immature fish. The paper describes the optimal harvesting policy under different assumptions on the objectives of the social planner and on fishing selectivity. First, biomass yield is maximized under perfect fishing selectivity, second, equilibrium profit (rent) is maximized under perfect fishing selectivity, and third, equilibrium profit is maximized under imperfect fishing selectivity. The paper provides results that differ significantly from the standard lumped parameter (also surplus production, or biomass) model.     

On the general birth-and-death-with-immigration stochastic process

Abstract

In a series of previous papers I have dealt with the theory of stochastic processes [1–5] and their applications for the analysis of the interaction between radiation and matter, especially in cosmic radiation [6] and in carcinogenesis [7–10]. In these and other applications of stochastic processes for the analysis of problems in natural science [10–13] the so-called birth-and-death-with-immigration process plays an important role.     

Two Independent Value Orientations: Ideal and Counter-Ideal Leader Values and Their Impact on Followers’ Respect for and Identification with Their Leaders

Traditionally, conceptualizations of human values are based on the assumption that individuals possess a single integrated value system comprising those values that people are attracted by and strive for. Recently, however, van Quaquebeke et al. (in J Bus Ethics 93:293–305, 2010) proposed that a value system might consist of two largely independent value orientations—an orientation of ideal values and an orientation of counter-ideal values (values that individuals are repelled by), and that both orientations exhibit antithetic effects on people’s responses to the social world. Following a call for further research on this distinction, we conducted two studies to assess the independent effects of ideal and counter-ideal values in leadership settings. Study 1 (N = 131) finds both value orientations to explain unique variance in followers’ vertical respect for their leaders. Study 2 (N = 136) confirms these results and additionally shows an analogous effect for followers’ identification with their leaders. Most importantly, we find that both value orientations exhibit their effects only independently when the content of the two orientations pertain to different value types in Schwartz’s (in J Soc Issues 50:19–46, 1994) circumplex model. Implications for theory and practice are discussed.     

Plant variety protection in developing countries. A report from the field

The establishment of intellectual property rights (IPRs) for plant varieties has caused considerable controversy, but there is relatively little empirical evidence on performance and options in developing countries. This paper summarizes the results of a recent five-country study, concentrating on the conduct of plant variety protection (PVP) regimes. It examines PVP in the context of other mechanisms that provide incentives for plant breeding. It discusses the principal options available to developing countries and examines the ability of PVP to offer protection from competing firms and from on-farm seed saving. It also looks at the administrative and management requirements of PVP regimes. Although the paper does not discuss patent protection for biotechnology it examines the IPR requirements for the introduction of transgenic varieties. Developing countries need to establish an appropriate PVP system, but PVP should be seen as part of a broader strategy for seed system development.     

Anti‐dumping Protection in a Liberalising Country: Mexico's Anti‐dumping Policy and Practice

The use of anti‐dumping policy has been steadily growing in recent decades, and so has the theoretical and empirical literature on anti‐dumping. However, while developing countries as a whole have become at least as active as the ‘traditional’ anti‐dumping regimes (the USA, the EU, Canada and Australia), the literature is almost exclusively concerned with the latter group. This article gives an overview of anti‐dumping policy and practice in Mexico, one of the leading ‘new’ anti‐dumping regimes. It assesses how anti‐dumping has expanded since the country began liberalising trade in the mid‐1980s, and discusses how the policy has been applied in a protectionist way that is not dissimilar to policy practice in the traditional user countries.     

The internal competitor: buyer motives and marketing strategies

Suppliers often face internal competitors. An internal competitor exists when a buyer simultaneously sources the same components from both an internal production unit and an external supplier. Based on a literature review we identify several different buyer motives for supporting such internal competitors. Though it may be difficult for an external supplier to immediately identify relevant buyer motives, the different motives suggest that these buyers should be targeted with different marketing strategies. For each buyer motive possible marketing strategies are suggested and briefly discussed. For example, it is discussed (1) how the external supplier may try to replace the internal competitor, (2) how the external supplier may try to operate in parallel with the internal competitor, and (3) when the external supplier should refuse to deliver to a customer with internal production of the same components.     

The differing effects of technology on inside vs. outside sales forces to facilitate enhanced customer orientation and interfunctional coordination

This paper presents a study designed to examine outcomes of different workplace structures. Specifically, using a sample of 156 sales organizations, we review how sales force structure, eLearning, and technological tools can influence coordination and the level of customer orientation within an organization. While current literature touts the benefits of an outside sales force, our results suggest that this type of structure, when coupled with eLearning and technological tools, leads to even greater positive outcomes of an outside sales force. By utilizing different forms of technology in conjunction with an outside sales force, this research offers a new dynamic technological environment to further improve salesperson performance.