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1.
This paper reports the results of the quantitative analysis of international experience of the relationship between infrastructure investment in the deployment of capacity that can carry large volumes of voice and data traffic and regulatory policy changes in the telecommunications sectors. It looks at the relationship between infrastructure investment for these infrastructure assets and the access pricing régimes for local exchange carriers in the United States and Europe. It then looks at the relationship between various aspects of regulatory and institutional policy changes in Europe and how they affect access prices.The paper finds that a lower access price promotes greater deployment of digital technology among US incumbent local exchange carriers (ILECs). Based on this finding, it suggests that it is in the ILECs interest to have access to their networks encouraged.The European data for interconnection are recent and far reaching conclusions are not feasible, but the findings, however, suggest that competition has worked by facilitating new entry through decreasing interconnection prices, although path dependencies, of existing and traditional concepts, in the mindsets of operators as well as regulators, may account for these findings. 相似文献
2.
Hsihui Chang Wen-Jing Chang Somnath Das Shu-Hsing Li 《Journal of Accounting and Public Policy》2004,23(6):483-510
Using data from the Annual Survey of Hospitals compiled by the Department of Health in Taiwan for years 1994 through 1997, we employed Data Envelopment Analysis (DEA) to evaluate the impact of a National Health Insurance (NHI) Program on the operating efficiency of district hospitals in Taiwan. We find that, on average, efficiency of district hospitals in Taiwan decreased following the implementation of the NHI Program. Our results are robust to the inclusion of control variables that have been shown to affect hospital operating performance in prior research, and alternative efficiency measurements. 相似文献
3.
This paper investigates the effect of the “First Financial Restructuring” (FFR) on the operating efficiency of commercial banks in Taiwan. Applying data envelopment analysis (DEA) to operations data for 40 commercial banks over the 6-year period 2000–2005, we find that while the banks have lower operating efficiency on average during the reform period (2002–2003) compared to the pre-reform period (2000–2001), improved operating efficiency is reflected in the post-reform period (2004–2005). Our results remain unchanged even after controlling for the non-performing loan ratio, capital adequacy ratio, bank ownership, size, and GDP growth rate. These results suggest that the improved efficiency in the post-reform period is possibly due to enhanced banking and risk management practices and benefits obtained from compliance with the FFR. 相似文献
4.
Hsihui Chang Hiu Lam Choy William W. Cooper Barnett R. Parker Timothy W. Ruefli 《Socio》2009,43(4):221-228
This paper investigates productivity growth, technical progress, and efficiency change for a group of the 56 largest CPA firms in the US from the period 1996–1999 through the period 2003–2006, where the former preceded, and the latter followed, enactment of the Sarbanes–Oxley Act (SOX). Data envelopment analysis (DEA) is used to calculate Malmquist indices of three measures of interest: productivity growth, technical progress, and efficiency change. Results indicate that CPA firms, on average, experienced a productivity growth of approx. 17% from the pre- to post-SOX period. Consistent with the finding of Banker et al. [Banker RD, Chang H, Natarajan R. Productivity change, technical progress and relative efficiency change in the public accounting industry. Management Science 2005;51:291–304], this productivity gain can be attributed primarily to technical progress rather than a change in relative efficiency. In addition, results indicate that the “Big 4” firms underperformed their non-Big 4 counterparts in both productivity growth and technical progress. 相似文献
5.
We study the impact of banking system reforms during a crisis following a period of undisciplined lending. Regulatory changes aimed at strengthening the banks’ capital structure and risk management practices do not have a uniform impact on bank productivity, but rather favor financially sound or strategically privileged banks. We present evidence documenting the differential impact of regulatory reforms on Korean commercial bank productivity over the period 1995–2005. Average technical efficiency of banks decreased during the financial crisis of 1997–1998. It improved following the subsequent bank restructuring and continued to improve through 2005. The capital adequacy ratio is positively associated with banks’ technical efficiency. The non-performing loans ratio is negatively associated with technical efficiency. Both relationships are accentuated during the crisis but attenuated after the reforms. 相似文献
6.
Rajiv D. Banker Hsihui Chang Mina Pizzini 《International Journal of Accounting Information Systems》2011,(4):259-279
We examine whether supplemental information displays affect decisions made using a common strategic performance measurement system, the balanced scorecard. A distinguishing feature of the balanced scorecard (BSC) is the number and diversity of its metrics. To effectively formulate a decision from such a complex information set, managers must view these measures within their strategic context (
[Kaplan and Norton, 1993]
and
[Kaplan and Norton, 1996]
). However, academic studies indicate that problems in communication and comprehension of the strategic logic underlying the scorecard hinder its implementation and use (
[Lipe and Salterio, 2000]
,
[Malina and Selto, 2001]
,
[Ittner et al., 2003a]
and
[Ittner et al., 2003b]
). We investigate whether a supplemental information display, in the form of a strategy map, results in performance evaluation judgments consistent with the recognition of relations between performance metrics and strategy. Strategy maps are causal diagrams depicting temporally-separate and non-linear relations between scorecard performance measures and overriding strategic objectives. As predicted, we find that performance evaluation decisions are more consistent with the achievement of strategic objectives when participants are provided with strategy maps. 相似文献
7.
In this paper, we address the question of Data Envelopment Analysis (DEA) evaluation of efficiency when aggregate cost or
revenue data must be used. We show that the DEA technical inefficiency measure using total revenues as the single output variable
or total costs as the single input variable equals the aggregate technical and allocative inefficiency. We employ this result
to estimate allocative inefficiency and construct statistical tests of the null hypothesis of no allocative inefficiency analogous
to those of the null hypothesis of no scale inefficiency. We illustrate our method using revenue and personnel data for the
top U.S. public accounting firms over 1995–1998. Our empirical results indicate the existence of statistically significant
allocative inefficiency in the public accounting industry.
相似文献
Ram NatarajanEmail: |
8.
This study examines the relationship between performance levels and the levels of cross-subsidy attained by local exchange carriers in the United States telecommunications industry. These cross-subsidies have been obtained by firms via their engagement in a separations mechanism, based on a cost allocation process, which telecommunications sector regulatory authorities use. Non-market strategies have assumed primacy in the activities of several sectors world-wide. Thus, understanding non-market strategic choices is important in the analysis of firms’ behavior and performance. Active engagement in the separations process is an important non-market strategy in the telecommunications industry, as a firm relatively successful in this activity can gain large cross-subsidies. The analysis establishes that less profitable firms obtain greater cross-subsidies. Once the profitability variable is decomposed into its two main components, which are productivity and price recovery, the impact of the profitability variable reduces. Firms which are relatively unproductive, as well as those unable to recover higher output prices, obtain relatively greater cross-subsidies. These results are inconsistent with the postulates of the strategic cost-allocation and behavior literatures but are consistent with x-inefficiency and rent-seeking perspectives of firms’ strategic actions. 相似文献
9.
Hsihui Chang Hiu Lam Choy Kam-Ming Wan 《Review of Quantitative Finance and Accounting》2012,38(2):177-207
The main purpose of this paper is to provide evidence on the effect of the Sarbanes–Oxley Act on stock ownership and the various
measures of pay-performance sensitivity of CEOs’ wealth. The Sarbanes–Oxley Act (SOX) provides a natural experiment for examining
how stock ownership and executive pay structure adapt to a change in regulatory environment. Using annual compensation data
of S&P 1,500 firms in 1994–2005, we examine the impact of SOX on stock ownership and pay-performance sensitivity of CEOs.
Consistent with our expectations, we find that in light of SOX: (1) stock ownership and (2) the total pay-performance sensitivity
of CEOs have decreased substantially, indicating that SOX induces a weaker incentive alignment between shareholders and CEOs.
In contrast, we find that after SOX stock ownership and the total pay-performance sensitivity of CEOs have remained unchanged
in the regulated industries. 相似文献
10.
Hsihui Chang 《Annals of Public and Cooperative Economics》2013,84(2):159-178
Using contemporary historical data, the analysis has examined the impact of cross‐subsidization on technology diffusion within telecommunications networks for local exchange sector telecommunications firms in the United States for the years 1995 to 2000. Firms obtaining greater cross‐subsidies engage in greater technology diffusion via network modernization using digital technologies. Contingent on the institutional setting, cross subsidies have risen. These amounts have been put to relevant use in the diffusion of technology via deployment of digital infrastructure. The principles of subsidization are considered negatively as they have presumed anti‐competitive consequences. In technology diffusion they have played a positive role, as the evidence shows. From a radical subjectivist perspective, cross subsidies generate financial capital for firms, which permits them to deploy high quality technology investments such as broadband and these investments can be used for entrepreneurial experiments in providing several customer services. 相似文献