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Jari‐Mikko Merilinen 《Annals of Public and Cooperative Economics》2020,91(2):237-268
This study uses a large panel dataset of Western European banks to examine the determinants of bank funding stability. Banks are divided into three categories by bank ownership type; the ownership types in this study are commercial banks, cooperative banks and savings banks. Three sources of stable bank funding are investigated: customer deposits, equity, and long‐term liabilities. Furthermore, the sum of these funding components is used as a proxy variable for a bank's total available stable funding (ASF). A special focus is on the temporal evolution of these funding types. The regression results show that commercial banks’ funding became much more stable in the period 2005–2017. However, that funding remains, on average, less stable than does cooperative and savings banks’ funding. In addition, funding stability has remained at the pre‐crisis level in cooperative and savings banks, despite a steep dip in cooperative banks’ ASF during the sovereign debt crisis. Furthermore, banks substantially decreased financing from long‐term liabilities after the financial crisis, replacing it with customer deposits and equity. 相似文献
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Anu Hakonen Johanna Maaniemi Jari Juhani Hakanen 《International Journal of Human Resource Management》2013,24(10):2245-2261
This study explored the propositions of the reflection theory of pay [Thierry (2001), Work Motivation in the Context of a Globalizing Economy, Mahwah, NJ: Lawrence Erlbaum Associates, pp. 149–166]. The theory is grounded in theories of individual motivation. However, in a group-based pay context more socially oriented motivational factors may also play a role. In addition, the theory does not take into account that pay may have negative meanings. In this study, we have adopted a qualitative approach to improve the understanding of what meanings group-based pay may have. The research questions were the following: (1) why is group-based result-oriented pay perceived as meaningful, (2) why is group-based result-oriented pay perceived as meaningless and (3) why is group-based result-oriented pay perceived to have a negative meaning. To study the meanings attached to group-based pay, we conducted 29 focus group interviews (88 employees) in six municipal organizations in Finland. The results showed that the reasons for perceiving group-based pay as meaningful were related to the value of money, compensation for performance, the positive messages signalled by the pay and positive outcomes. On the other hand, when pay was perceived as meaningless, the arguments were related to the weak instrumentality of money, weak links between performance and pay, incompatibility and lack of knowledge. The negative meanings were related to negative message conveyed by the pay and its outcomes. When these results were compared with four meanings proposed by reflection theory, all four categories were found in the speech of the interviewees. In addition, two new categories were found and designated as ‘messages’ and ‘outcomes’. These new categories were theoretically linked to social identity theory. 相似文献
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Organizations and collaborative networks set strategic directions by building agendas of action topics that will be implemented subject to limited resources and other constraints. The development of such agendas typically involves several decision makers and possibly other stakeholders who may have divergent views about how the topics contribute to multiple objectives. The processes of developing these agendas can be supported by methods of multicriteria decision analysis which allow the group members’ preferences to be systematically and transparently synthesized. In this paper, we extend methods of portfolio decision analysis with the aim of guiding the development of agendas in the presence of possibly incomplete information about the group members’ preferences and the impacts of the proposed topics. Specifically, we define performance measures that convey (i) what topics are favored by individual group members and (ii) how acceptable alternative portfolios of topic agendas are to the whole group. The methods are illustrated with data from a real case study for the development of a national research agenda on wood products in Finland. 相似文献
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Aapo Lnsiluoto Sanna Joensuu‐Salo Elina Varamki Anmari Viljamaa Kirsti Sorama 《Journal of Small Business Management》2019,57(3):1027-1043
Previous research has shown a connection between market orientation (MO) and firm performance, as well as between performance measurement systems (PMS) adoption, but their mutual interactions are as yet little understood in small and medium‐sized enterprises (SMEs). Using empirical data collected by a survey from 123 Finnish SMEs, we analyze the relationship between MO, PMS adoption, and performance. According to the results, MO has positive relationships with PMS adoption and nonfinancial performance. However, the impact of MO on financial performance is mediated by PMS adoption. PMS adoption is thus an important factor in explaining variance in firm performance. Finally, empirical analysis shows that the larger SME firms adopt PMS more extensively. 相似文献
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The idea of the contingent valuation method for measuring the value of non-marketed goods, proposed by Ciriacy-Wantrup in 1947, found its first application in a study by Davis (1963) at the beginning of 1960's on valuing recreational benefits of forests. Since then, contingent valuation and related methods like choice experiments have become a standard part of forest economists' toolkits. During their history, the pros and the cons of methods of valuing non-marketed benefits of nature have been intensively discussed in the literature. One of the questions, considered also in earlier editorials of this Journal, is what are we actually measuring.Reallocating land from timber production to nature conservation has been a prominent trend in northern Europe and North America during recent decades. On many occasions, this has caused public debates, the spotted owl controversy in western United States being a well known example. In Finland, the implementation of the European Union's nature conservation programme, Natura 2000 Network, at the end of 1990's resulted in a heated public controversy.Public debate and the arguments presented went out of all proportion as compared to the actual proposal. In the Natura 2000 Network proposal, only 5 % of the conserved area were newly protected sites, and newly protected forestland area was 0.15 % of the productive forest land area in Finland. Still, it was claimed that the programme would severely restrict forestry, endanger the profitability of forest industries and violate private forest owners' property rights. The Ministry of Environment received over 14.000 written complaints from private landowners concerning the conservation areas proposed.After the conflict, social scientists have tried to find out what actually went wrong. The most important reason seems to have been the fact that the environmental administration neglected land owners by leaving them completely out of the process of policy planning and designing the areas to be conserved. A contingent valuation survey on Finnish households' willingness to pay for increased conservation in the form of the Natura 2000 Network (Pouta et al. 2002), indicated that the planning process itself had a significant negative effect on Finnish households' welfare. Those respondents who were offered a nature conservation programme similar to Natura 2000 Network, but without the Natura label were willing to pay five times more for the increase than those who received the conservation project within the Natura 2000 Network. According to a choice experiment survey (Li et al. 2001), the proposal would have actually lost a majority vote in Finland.Preliminary results of a survey conducted in year 2002 on increasing biodiversity conservation in forests in Southern Finland indicate much more positive attitudes towards nature conservation (Lehtonen et al. 2002) than the survey on Natura 2000 Network just a few years earlier. One reason for this may be that preferences have changed. Partly, the results may reflect the fact that the later survey is very explicit on the effects of the programme on biodiversity, which seem to matter more than the hectares conserved. However, one reason may also be that this time the planning has not got the bad publicity of Natura 2000 Network, at least not yet.Since Fischhoff and Furby (1988), researchers have been aware of the fact that the context is an important determinant of willingness to pay for public goods. However, at least in Finland, this does not seem to have been common knowledge to environmental groups or policy planners. On the other hand, maybe it is exactly these kinds of features of non-market valuation techniques that cause environmental groups and even many academic natural scientists and ecologists to view the methods and mindset of economists with grave suspicion. Non-market valuation methods seem somehow to dilute the value of nature, which should be preserved whatever the costs.However, disregarding the effects of policy planning, or the perceived property rights of the landowners, is not going to make conservation policies more effective. In fact, if conservation controversies decrease citizens' utility given the proposed level of conservation, they decrease willingness to pay, and make it more difficult to justify conservation measures. Other things being equal, as customers we are more likely to enter a shop with good, reliable service, and a friendly smile can save the day, even if we decide not to make the purchase that time. This is how the human mind works: why should it be any different in the market for environmental goods and services?ReferencesCiriacy-Wantrup SV (1947) Capital returns from soil-conservation practices. Journal of Farm Economics 29: 1181-1196.Davis RK (1963) The value of outdoor recreation: an economic study of the Maine woods Ph. D. thesis, Harvard University. Fischhoff B, and Furby L (1988) Measuring values: a conceptual framework for interpreting transactions with special reference to contingent valuation of visibility. Journal of Risk and Uncertainty 1: 147-184.Lehtonen E, Kuuluvainen J, Pouta E, Rekola M, and Li C-Z (2002) Stated preferences of the forest conservation in southern Finland. Scandinavian Forest Economics (forthcoming)Pouta E, Rekola M, Kuuluvainen J, Li C-Z, and Tahvonen O (2001) Willingness to pay in different policy-planning methods: Insights into respondents' decision-making processes. Ecological Economics 40: 295-311.Li C-Z, Kuuluvainen J, Pouta E, Rekola M, Tahvonen O (2001) Using choice experiments to value Natura 2000 nature conservation program in Finland. Helsingin yliopisto - University of Helsinki Metsäekonomian laitos - Department of Forest Economics Tutkimusraportteja - Reports 18. 相似文献
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The paper examines rationales relevant to the evolving roles of government intervention and private venture capital industry in the commercialization of new technologies. Specifically, government interventions may aim to mitigate market and systemic failures, eliminate structural rigidities, or respond to anticipatory myopia. Ex ante , constructive, and ex post evaluations are discussed in relation to the possibility that agencies responsible for policy implementation may intervene even in situations in which the benefits of their interventions are not necessarily transparent. 相似文献
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Totti Könnölä Author Vitae Ville Brummer Author Vitae Ahti Salo Author Vitae 《Technological Forecasting and Social Change》2007,74(5):608-626
Foresight activities have often provided support for objectives such as priority-setting, networking and consensual vision-building. In this paper, we draw upon complementary evolutionary perspectives and discuss these objectives from the viewpoint of diversity which may be vital in contexts characterized by technological discontinuities and high uncertainties. We also argue that although the scanning of weak signals has been widely advocated in such contexts, the solicitation of ideas for prospective innovations may provide more focused, action-oriented, and comparable reflections of future developments. For the analysis of such ideas, we develop a collaborative foresight method RPM Screening which consists of phases for the generation, revision, multi-criteria evaluation, and portfolio analysis of innovation ideas. We also report experiences from a pilot project where this method was employed to enhance the work of the Foresight Forum of the Ministry of Trade and Industry in Finland. Encouraging results from this project and other recent applications suggest that RPM Screening can be helpful in foresight processes and the development of shared research agendas. 相似文献
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This paper aims to provide a comprehensive insight into the role that unemployment plays in influencing new firm formation. Panel data models and micro-level data are used to help achieve this objective. We endeavour to identify simultaneously the separate effects of personal, regional and national unemployment on new firm formation in Finland for the period 1987–1995. The results indicate considerable evidence for a positive and non-linear effect of personal unemployment on the likelihood of an individual to become an entrepreneur. The findings also indicate that the economic situation has an effect on firm formation: times of low unemployment and business prosperity favour entrepreneurship. On the other hand, the analysis gives no clear evidence of the regional unemployment situation affecting the likelihood of founding a business. 相似文献
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