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41.
The genuine problem of governance is one that pays equal attention to both incentive and knowledge issues in private and public contexts. This work brings together Austrian, Public Choice and theory of the firm insights to address such problem. By taking into account incentives and knowledge, it proposes a framework that accommodates comparisons not just of kind (firm or market), but also of degree (e.g., among different types of internal organization). Moreover, although the suggested framework derives from considerations about private governance, it equally accommodates public and private settings. (89 words.) 相似文献
42.
Yasmina Rim Limam Stephen M. Miller Giampaolo Garzarelli 《The German Economic Review》2019,20(4):383-409
How do physical capital accumulation and total factor productivity (TFP) individually add to economic growth? We approach this question from the perspective of the quality of physical capital and labor, namely the age of physical capital and human capital. We build a unique dataset by explicitly calculating the age of physical capital for each country and each year of our time frame and estimate a stochastic frontier production function incorporating input quality in five regions of countries (Africa, East Asia, Latin America, South Asia and West). Physical capital accumulation generally proves much more important than either the improved quality of factors or TFP growth in explaining output growth. The age of capital decreases growth in all regions except in Africa, while human capital increases growth in all regions except in East Asia. 相似文献
43.
This article explores the epistemological roots and paradigmatic boundaries of research into employee trust, a growing field in human resource management. Drawing on Burrell and Morgan's well‐known sociological paradigms and their epistemological foundations, we identify the dominant approaches to employee trust research to examine its strengths and limitations. Our review of the literature on employee trust revealed that the majority of the most cited papers were written from a psychological perspective, characterised by positivistic methodologies, variance theory explanations and quantitative data collection methods. We also found that most of the studies can be located in the functionalist paradigm, and while accepting that functionalism and psychological positivism have their merits, we argue that research in these traditions sometimes constrains our understanding of employee trust in their organisations. We conclude that trust researchers would benefit from a better understanding of the ontological, epistemological and axiological assumptions underlying of HRM research and should embrace greater epistemic reflexivity. 相似文献
44.
Giampaolo Garzarelli 《Review of Political Economy》2013,25(3):443-453
Abstract Richard Langlois, Tony Yu & Paul Robertson (LYR) (2003) have assembled a collection of previously published papers that move beyond textbook production theory. This essay discusses work by Frank Knight and Hendrik Houthakker not reproduced in LYR in relation to the capability theory of economic organization. Knight identified the problem of organization as the search for and the coordination of different dispersed capabilities. Houthakker helps us to see more clearly that the benefits of specialization are not brought at zero cost; whatever is the governance structure employed, there will inevitably be coordination costs due to differences in capabilities. 相似文献
45.
Treating respondent uncertainty in contingent valuation: A comparison of empirical treatments 总被引：1，自引：0，他引：1
This research examines the impact of uncertainty on contingent valuation responses using (1) a survey of Canadian landowners about willingness to accept compensation for converting cropland to forestry and (2) a survey of Swedish residents about willingness to pay for forest conservation. Five approaches from the literature for incorporating respondent uncertainty are used and compared to the traditional random utility model with assumed certainty. The results indicate that incorporating uncertainty has the potential to increase fit, but could introduce additional variance. While some methods for uncertainty can be an improvement over traditional approaches, it is imperative to exercise caution when making systematic judgments about the effect of uncertainty on contingent valuation responses. 相似文献
46.
This paper addresses the estimation of confidence sets for asset correlations used in credit risk portfolio models. Research on the estimation of asset correlations using endogenous probabilities of default estimations has focused on the impact of concentration risk factors, such as firm size and industry. The empirical evidence from Italian small- and medium-size companies show that the assumptions underlying the Basel Committee regulatory capital risk weight function are not substantiated. The regulatory impact is that the capital adequacy is significantly compromised, driving an adverse selection, which favors the worst companies, and transferring the procyclical effects from firms to banks. 相似文献
47.
Chiara Landi Gianluca Stefani Benedetto Rocchi Ginevra Virginia Lombardi Sabina Giampaolo 《Journal of Agricultural Economics》2016,67(1):208-230
We analyse the exit behaviour of Tuscan farms during the period 2000–2007 both at the farm and the territorial level. The study combines data from the 2000 National Census of Agriculture and three waves of the ‘Farm Structure Surveys’. The exit probability of the resulting sample, composed of 3,187 farms, is estimated through a Bayesian hierarchical probit model. Our results show that exits reflect the size and type of holdings. Likelihood of exit is higher in areas of higher population density that are not classified as ‘urban’ areas. 相似文献
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This research examines the effects of various factors on farmer participation in agricultural tree plantations for economic, environmental, social, and carbon‐uptake purposes, and potential costs of sequestering carbon through afforestation in western Canada. Using data from a survey of landowners, a discrete choice random utility model is used to determine the probability of landowners' participation in and corresponding mean willingness to accept (WTA) compensation for a tree‐planting program. WTA includes positive and negative benefits to landowners from planting trees, benefits not captured by foregone returns from agricultural activities on marginal land. Estimates of WTA are less than foregone returns, but even so average costs of creating carbon credits still exceed their projected value under a CO2‐emissions trading scheme. La présente étude a examiné les effets de divers facteurs sur la participation des producteurs agricoles à la plantation d'arbres à des fins économiques, environnementales, sociales et d'absorption du gaz carbonique, ainsi que les coûts potentiels de la séquestration du carbone au moyen du boisement dans l'Ouest canadien. À l'aide des données d'un sondage effectué auprès de propriétaires fonciers, nous avons utilisé un modèle d'utilité aléatoire à choix discrets pour déterminer la probabilité de participation des propriétaires fonciers à un programme de boisement et leur consentement à recevoir (CAR) une compensation financière pour leur participation. Le CAR inclut les avantages favorables et défavorables que le boisement procure aux propriétaires fonciers, des avantages non saisis par les revenus sacrifiés des activités agricoles sur des terres marginales. Les estimations du CAR sont inférieures aux revenus sacrifiés, mais malgré tout, les coûts moyens de la mise en uvre de programme de crédits pour le carbone demeurent supérieurs à leur valeur prévue dans un scénario d'échange de droits d'émission de CO2. 相似文献