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1.
This paper applies principles of transition to land tenure and squatting in South Africa. Political transition in South Africa reassigned political property rights, which produced contestable, and rent‐seeking incentives for squatting as a means to privatize land and redistribute wealth. Government failure to establish and protect private property rights in a squatter camp resulted in common‐pool problems that resisted private and public resolution with consequent rent dissipation and social loss. In response to this retreat from duty, informal agents emerged to claim their own share of the prize. Without enforceable rules of capture, the growth of squatter camps in South Africa will continue. JEL classification: D7, H8, K1, K4, R1, R4.  相似文献   
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Drawing principally on the English-speaking countries, where tax reform has proceeded furthest, the common characteristics and causes of the worldwide tax reform movement of the 1980s are examined. Tax reform reflected the change in economic philosophy — disillusionment with state intervention and a revival of belief in the efficacy of markets.
The causes and content of tax reform in Australia have much in common with those elsewhere except that the reduction in marginal rates of income tax was achieved with no real change in the tax mix. The success of tax reform is assessed using as criteria: (i) how far the outcome matched the objectives specified by the reformers themselves — in particular tax neutrality; (ii) the sustain-ability of the reforms; and (iii) how far 'undesirable' consequences (especially distributional effects) were avoided. Applying these criteria to Ireland, Canada, the United Kingdom, the United States, New Zealand and Australia, it is concluded that in all these countries there are deficiencies, but Australia comes second to New Zealand in the success league. The notable Australian deficiencies are the lack of a broad-based consumption tax (Australia is now the only OECD country without one) and the fact that lower marginal rates of income tax have been achieved mainly because of falling real thresholds of the tax brackets.  相似文献   
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Some researchers have argued that firms with favorable environmental performance are more likely to provide voluntary environmental disclosure, while others have argued that firms with poor environmental performance are most likely to disclose. The authors propose a curvilinear relation between environmental performance and environmental disclosure that is moderated by visibility. Data were obtained from S&P 500 firms queried by Ceres’ Climate Disclosure Project. Results show a U-shaped environmental performance–environmental disclosure relation and a main effect for visibility but no moderating effect for visibility on the U-shaped environmental performance–environmental disclosure relation. The authors discussed the implications of these results for future research and practice.  相似文献   
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采用包括转矩分析在内的各种状态监测手段对电机进行在线测试,缩短了停机时间。  相似文献   
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BCCI: LESSONS FOR INTERNATIONAL BANK SUPERVISION   总被引:1,自引:0,他引:1  
This paper analyzes the BCCI collapse in light of the ongoing efforts of the Basle Committee on Banking Supervision to ensure that "no foreign banking establishment escapes adequate supervision." It reviews the development of the Basle Committee's Concordat and analyzes ways of improving international bank supervision.  相似文献   
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Technology profiles and export marketing strategies   总被引:1,自引:0,他引:1  
This paper defines four different profiles which reflect the nature and level of a firm's technological involvement in exporting and foreign sales. It is also possible to characterize a firm's export marketing strategy along a reactive-proactive continuum. Technology profiles and marketing strategies are then linked together to suggest the optimal approach to developing overseas markets for a given type of firm. A number of essential requirements for successful export marketing are also described. It is suggested that success requires a combination of innovation, adaptation, and an appropriately selected marketing strategy.  相似文献   
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We show how a high degree of commonality in investor liquidity shocks can diminish incentives for intermediaries to keep markets open and lead to market collapse, even without information asymmetry or news affecting fundamentals. We motivate our model using the perpetual floating-rate note market where two years of explosive growth – in which issues by high quality borrowers were placed with institutional investors and traded in a liquid secondary market – were followed by a precipitous collapse when market intermediaries withdrew due to large order imbalances. We shed new light on the trade-off between ownership concentration and market liquidity.  相似文献   
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