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91.
92.
Smallholder farmers in developing countries encounter multiple barriers in access to inputs and technology, which prevent them from reaping the benefits from market participation. Women farmers face additional constraints due to gender norms that further limit their engagement in productive activities. While collective action has been shown to improve access to markets and economic outcomes for farmers overall, the evidence on the effects of cooperative membership for women smallholders remains limited. We investigate empirically the economic benefits of collective action for women farmers in the honey sector in Ethiopia. Relying on a rich data set on women honey producers, both cooperative members and non‐members, we evaluate the effects of belonging to a cooperative on three outcome variables through coarsened exact matching and regression analysis. Our results indicate that cooperative membership significantly increases the market price and the production quantity and, while the average effect on the share of product marketed is statistically insignificant, significant differences emerge for women with given characteristics. These results are shown to be robust to a number of tests that address biases from selection on observables and unobservables. An analysis of the heterogeneous effects of household membership in multiple groups finds that membership of self‐help groups or farmer associations amplifies the positive outcomes from belonging to a formal cooperative. Finally, qualitative findings derived from the same communities indicate self‐reported improvements in agency and self‐esteem among women members, thus reinforcing the importance of the quantitative findings. 相似文献
93.
This paper incorporates capital structure theory to model the response of nominal interest rates to expected inflation in a world with taxes. Within an otherwise common framework, the model includes Modigliani-Miller (MM) and Miller capital structure theory, as well as a variation of the Miller model with bankruptcy costs, developed by DeAngelo and Masulis. Within this framework, we derive an equation to predict the response of nominal interest rates under each capital structure hypothesis. With MM theory, our model predicts diD/dπ value consistent with empirically observed ranges. With Miller theory, the predictions are inaccurate. With DeAngelo-Masulis, the predictions vary widely; the midpoint of the predicted range is less accurate than with Miller theory. 相似文献
94.
Positive leniency in self-appraisal was studied for its cross-cultural properties in three Asian and three Western countries. Nine hundred and eighty-three mid-level bank managers were surveyed by indigenous field workers to measure self-appraisal, life goals, and other demographic variables. Positive leniency was found in the three Western countries but not in the three Asian countries while controlling for size and type of organisation, managerial level and several demographics including sex, age, education and religious preference. Our measure of self-appraisal also served as a measure of organisational success. The relationship between success and work motivation was then examined for its cross-cultural properties. Organisational success and work motivation correlated across the six countries although the intensity of work motivation varied. The importance of work and of family were highly valued in all six countries as well. 相似文献
95.
Michaeleen Kelly 《Journal of Business Ethics》1989,8(11):863-864
Managerial reasoning is characteristic of a care-relationship ethics:
- If a corporation provides certain community values to corporate members not reducible to their self-interested economic or professional objectives;
- If such values are generated by a division of labor based on interdependence, reciprocity and concern for another's self-realization;
- If it's based on promoting an ethical corporate self independent of its economic value.
96.
Wen-Hsiu Chou William G. Hardin III Matthew D. Hill G. Wayne Kelly 《The Journal of Real Estate Finance and Economics》2013,46(1):91-114
This study examines the market value of REIT dividends conditional on transparency of operating structure and effectiveness of boards. Results suggest that total, mandatory and discretionary dividends are valued by the market. Consistent with agency cost theory, results provide some evidence that discretionary dividends paid by REITs with greater principal-agent conflicts have greater market value. Specific results suggest an increased value of excess dividends paid by firms with more complex organizational structures (UPREITs) and, to some degree, less independent boards. This evidence implies the equity market recognizes REITs’ substitution of discretionary dividends for stronger governance. 相似文献
97.
The dramatic rise in CEO compensation during the 1990s and early 2000s is a longstanding puzzle. In this paper, we show that much of the rise can be explained by a tendency of firms to grant the same number of options each year. Number-rigidity implies that the grant-date value of option awards will grow with firm equity returns, which were very high on average during the tech boom. Further, other forms of CEO compensation did not adjust to offset the dramatic growth in the value of option pay. Number-rigidity in options can also explain the increased dispersion in pay, the difference in growth between the US and other countries, and the increased correlation between pay and firm-specific equity returns. We present evidence that number-rigidity arose from a lack of sophistication about option valuation that is akin to money illusion. We show that regulatory changes requiring transparent expensing of the grant-date value of options led to a decline in number-rigidity and helps explain why executive pay increased less with equity returns during the housing boom in the mid-2000s. 相似文献
98.
Companies are recognizing and pursuing the opportunity to serve the market known as the base of the pyramid (BOP), i.e., consumers who live in poverty in developing countries. The BOP constitutes the largest remaining global market frontier for businesses. Until recently, it has been ignored because of its seeming unattractiveness and insurmountable challenges compared with middle‐ and high‐income markets. However, BOP consumers desire and are able to pay for quality products tailored to their needs. In response, firms are developing new products specific to the demands and conditions of this low‐income population. To innovate effectively, ensuring new products are well received, firms need to know how to enhance new product adoption among these consumers despite the barriers of poverty. We address this need by developing a model of adoption contextualized to the BOP. Based on theories of innovation and poverty, and drawing on the emergent subsistence market literature, we propose that certain new product characteristics, social context dynamics, and marketing environment approaches moderate or counter some of the limits of poverty, making adoption possible. We then discuss the managerial and theoretical implications of our model for innovation practitioners and researchers. 相似文献
99.
V. Eldon Ball Jean-Christophe Bureau Kelly Eakin Agapi Somwaru 《Agricultural Economics》1997,17(2-3):277-288
This paper uses duality theory to develop a model of European Community agriculture. The model is used to investigate the impact of the land set-aside provision of the recent package of reforms of the Common Agricultural Policy. We assume that producers chose output and variable input levels that maximize difference between revenue and variable cost. By including first-order conditions for the allocation of land across its uses, we impose that the observed allocations are profit-maximizing allocations. To overcome the problem of incorporating many outputs into an estimable production structure, we imposed a priori the restriction that the technology was weakly separable in major categories of outputs. With this restriction, it was possible to model production decisions in stages using consistent aggregates in the latter stages. 相似文献
100.