Effect of modern rice varieties and irrigation on household income distribution in Nepalese villages

Since high-yielding modern rice varieties (MVs) are adopted only in favorable production environments, significant regional productivity differentials have emerged in Nepal. This study explores the distributional consequences of such differential MV adoption based on an intensive survey of favorable and unfavorable villages. We found that MV adoption increased returns to land but decreased family labor earnings from rice production, as it facilitated the substitution of hired for family labor. As a result, the differential MV adoption did not significantly worsen the household income distribution according to the results of the counterfactual Gini decomposition analysis.     

Status and financial performance of organic vegetable farming in northeast Thailand

In line with the national sustainable agriculture development policy of the Government of Thailand, organic vegetable farming (OVF) promotion projects have been implemented in several provinces of the country. Based on data collected through a questionnaire survey of 172 sample vegetable farmers in Mahasarakham Province of northeast Thailand, this study firstly assessed the status of OVF and then, analyzed the financial performance of three main vegetables cultivated, namely: morning glory, green onion and Chinese kale. Finally, sensitivity analyses of the financial performances for all three vegetables were conducted under four assumed scenarios with respect to price of synthetic fertilizers and pesticides, and yield and price of organic vegetables. The findings of the analysis on the status of OVF revealed that organic vegetable farms accounted for very small percentage of the total area used for all vegetables in the study area. Results of the financial analysis also showed that OVF was much less financially attractive than conventional vegetable farming due to low yield which usually does not come with premium price of the vegetables. Still farmers are growing organic vegetables on small scale primarily for household consumption. The findings of the sensitivity analyses indicated that the removal of direct or indirect subsidies for synthetic fertilizers and pesticides, and appreciation in the yield and price of organic vegetables can enhance the financial performance of OVF. In view of the possible rejection of radical policies that encourage OVF by discouraging conventional vegetable farming, this study suggests appropriate policy measures that could directly provide incentives for organic vegetable production and consumption.     

Foreign ownership and the enforcement of corporate governance reforms

This study examines whether a stronger corporate governance enforcement regime influences the investment decisions of foreign portfolio investors in an emerging market context. Using a natural experiment provided by an Indian corporate governance regulatory reform introduced in 2000, but for which stricter sanctions for non-compliance were imposed in 2004 our results provide strong evidence that governance reforms that include stricter sanctions for non-compliance lead to higher foreign ownership. Depending on specifications, the difference-in-differences estimates show that, on average, the effect is up to 2.8% increased foreign ownership post regulatory reform of 2004. The paper adds to the debate on simultaneity between foreign ownership and corporate governance as we show that in the context of an emerging market corporate governance regulations are extremely important in attracting foreign investors. In the context of prevalence of weak enforcement (of existing regulations) in emerging markets, this study provides empirical support to the notion that strictly enforcing the existing governance regulations has the potential to attract higher level of foreign investment. The results suggest that policy measures aimed at attracting foreign investors in emerging markets should not only concentrate on adopting the best international corporate governance practices but should also signal strong enforcement of these regulations by assigning significant penalties for non-compliance.

     

Access to information and international portfolio allocation

We examine whether foreign equity holdings of portfolio investors depend on the level of information accessibility between the investors’ home and host countries. Using a comprehensive data set, alternative measures of information accessibility and robust analytical techniques, we show that differences in access to cross-country information significantly influence investors’ portfolio allocation decisions. Furthermore, the results suggest that for a given level of access to information, investors prefer to invest more in countries with a higher quality of legal/macro-institutions. Finally, the findings also confirm that the implications of information accessibility are more pronounced when markets are turbulent.     

The influence of self-congruity,perceived value,and satisfaction on destination loyalty: a case study of the Korean DMZ

Destination management organizations have increasingly recognized that destination loyalty provides a strategic competitive edge in tourism. In order to better understand the importance of heritage destinations, this study examined the roles of self-congruity, value perception, and travel satisfaction in the development of loyalty in the Korean demilitarized zone (DMZ) destination context. Data were collected among domestic tourists that had visited the DMZ with tour guides. Results identified that destination loyalty was positively affected by self-congruity and travel satisfaction; travel satisfaction was positively influenced by self-congruity and perceived value; and perceived value was positively influenced by self-congruity. Overall, these findings indicate that the interaction of self-congruity, perceived value, and travel satisfaction to the DMZ is essential in influencing visitors’ destination loyalty.     

Visitor perceptions of World Heritage value at Sagarmatha (Mt. Everest) National Park,Nepal

World Heritage sites must exhibit outstanding universal value, integrity, and authenticity. Based on this context, this study examined whether visitors to Sagarmatha (Mt. Everest) National Park, Nepal (World Heritage Site inscribed under criteria vii in 1979) recognized it for its exceptional beauty and aesthetics. This study explored the basic concept of perceived park authenticity at this site, and associated factors that influenced the perception of World Heritage values. Questionnaire surveys were administered to 522 international visitors at the park. Exploratory factor analysis and ordinal logistic regression were used for analysis. Results indicated that visitors perceived the park to be authentic, preserved integrity, and constituted outstanding universal value. Additional regression results identified that overall trip satisfaction and educational level were statistically significant predictors of perceptions of authenticity, integrity and outstanding universal value of the park. Prior visits, substitutability of the park, age, and income were statistically significant predictors of perceptions of either authenticity, integrity or outstanding universal value of the park. Results suggest that emphasis on visitors‘ needs via interpretation and professional guides may solicit more favorable attitudes towards this site.     

EFFICIENCY OF THE HEALTH CARE SYSTEM: A SUB‐STATE LEVEL ANALYSIS FOR WEST BENGAL (INDIA)

This paper attempts a sub‐state level analysis of health system efficiency, focusing on West Bengal, a low income Indian state. Using a stochastic frontier model, it provides an idealized yardstick for evaluation. Our results suggest that overall efficiency of the public health delivery system remains low due to considerable disparities across districts. This is owing to differentials in availability and utilization of inputs such as the per capita availability of hospitals, beds, and manpower, and adversely affects life expectancy. Overcoming these factoral disparities may help the deficient districts to improve life expectancy. It may require a considerable increase in medical and public health expenditure in rural areas in the state and especially calls for resource mobilization to improve infrastructure facilities and maintain essential supplies at primary health centers. This could be attempted partly through funds from the National Rural Health Mission (NRHM) and by improving rural sanitation in poorer districts.     

To Formalize or Not to Formalize: Women Entrepreneurs’ Sensemaking of Business Registration in the Context of Nepal

Journal of Business Ethics - Despite the depiction of decisions to formalize informal firms as rational and ethical, many entrepreneurs in developing countries continue to operate informally...