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1
Sherris, Michael. "Leveraged Leasing: An Example of the use of Investment Appraisal Techniques." Journal of the Staple Inn Actuarial Society 30 (December 1987): 97–115. http://dx.doi.org/10.1017/s0020269x00010094.
Анотація:
The origins of leveraged leasing are the trust arrangements used in the 1870's in the United States of America by railroad companies to finance the acquisition of rolling stock (Fritch, 1977, p. 98). A trust was established to purchase the equipment. The trustee issued trust certificates to investors who provided the funds for the equipment acquisition. The trust certificates provided for the repayment of principal and interest at specified dates. The trust then leased the equipment to the railroad company and the rental paid by the railroad company was used to repay the trust certificates as they fell due. These arrangements were in reality conditional sale agreements and not leveraged leases. Leveraged leasing as we know it today was introduced in the U.S.A in 1963 after the Comptroller of the Currency permitted national and state chartered banks to own and lease personal property (Weston, 1983, p. 271). The arrangement was used initially by railroad and airline companies to finance the acquisition of large items of capital equipment. Companies within capital intensive industries could not absorb the tax benefits of ownership whereas the banks could. Leveraged leasing meant that the banks owned the equipment and claimed depreciation and other tax deductions associated with ownership. These benefits were passed onto the railroad companies through lower rentals which reflected the value of these taxation benefits.
2
Eniola Sule, Olatunji, and Sarat Iyabo Amuni (MRS). "Equipment Leasing as a Source of Finance For Small and Medium Scale Entrepreneurs In Nigeria." International Journal of Management Excellence 2, no. 3 (February 28, 2014): 247–56. http://dx.doi.org/10.17722/ijme.v2i3.110.
Анотація:
The paper is looking into fund raising through leasing of equipments and machineries rather than purchasing them on cash and carry basis as such having much impact and impart on the working capital of the small and medium scale enterprises. The paper looked into relevant and related studies and came up with the ideas like concept of leasing, types of lease arrangement and Central Bank of Nigeria regulations as to lease for small and medium scale enterprises. The study made use of a self designed questionnaire called ELESOF to get information from respondents and came up with certain conclusions that equipment leasing is very paramount to the survival of organisations and that though the CBN gave the rules to encourage of small and medium scale enterprises through equipment leasing via the commercial banks but this is just an illusion as far as the instruction by CBN to commercial banks.
3
Ezebilo, Eugene E. "Public-Private Partnership Arrangements for Boosting the Supply of Affordable, Adequate and Quality Houses: Lessons for Papua New Guinea." Asian Social Science 19, no. 3 (May 29, 2023): 100. http://dx.doi.org/10.5539/ass.v19n3p100.
Анотація:
Providing adequate, quality and affordable housing for its population have been a long-standing issue for governments of some countries. To address the issue, some of the governments have adopted Public-Private Partnership (PPP) with the hope of improving housing delivery. However, identifying the most suitable PPP arrangement for providing houses is often problematic. This paper reports on a study of the different PPP arrangements that can be applied in housing delivery, critical success factors and challenges associated with the arrangements. It also reports lessons that Papua New Guinea (PNG) can draw from other countries that have applied PPP extensively in housing delivery. The study is based on a historical narrative literature review that was analysed using manifest qualitative content analysis. The findings revealed that there are several PPP arrangements that can be used in providing houses such as the direct relationship ownership housing which is similar to the build-lease-operate-transfer. Another type of arrangement is the direct relationship rental housing which is similar to the build-own-operate. Critical success factors for a PPP project include the need for transparency at all stages of the PPP, risks must be allocated properly between the public sector and the private sector, the PPP should have adequate political and community support. The performance of a PPP arrangement can be restricted by high transaction costs, poor contracting and procurement procedures, the dominance of the public sector in the arrangement, poor communication between the partners and inadequate legal frameworks. The lessons that PNG can draw from other countries include the identification of PPP arrangements that are most suitable for the country and how to implement the arrangements in an effective manner. The findings provide more understanding on the application of PPP arrangements in housing delivery by considering the challenges and success factors associated with the arrangements.
4
Lam, Patrick T. I., and Jack S. YU. "Developing and managing photovoltaic facilities based on third-party ownership business models in buildings." Facilities 34, no. 13/14 (October 3, 2016): 855–72. http://dx.doi.org/10.1108/f-04-2015-0019.
Анотація:
Purpose The purpose of this paper is to demonstrate the growing trend of developing and managing photovoltaic facilities owned by third parties in buildings, as a possible alternative to energy performance contracting. Design/methodology/approach Based on an established business model template, analysis is carried out on the framework of using third-party finance in the provision of photovoltaic facilities in buildings. Case studies in the USA and China enable comparison of policy tools enabling this approach. Findings While barriers exist in the common energy performance contracting approach for renewable installations owned by the building owner, vesting photovoltaic equipment with a third party for a certain period has become a viable business alternative as long as revenue is generated through a power purchase agreement or lease arrangement with the building owner. Research limitations/implications The third-party ownership business model works better if sufficient policy incentives exist alongside the revenue brought about by renewable energy. Hence, governments have to create the right environment. Originality/value Win-win situations have been identified through case studies in countries with burgeoning renewable energy use in buildings, notably the USA and China, giving new insights on facilities management.
5
Rosita, Ferriyal, Noermijati Noermijati, Margono Margono, and Christin Susilowati. "The Role of Flexible Work Arrangement, Job Embeddedness, and Work-Life Balance in Reducing Turnover Intention: Study on Millennials and Generation Z Employees." Journal of The Community Development in Asia 7, no. 2 (May 20, 2024): 53–69. http://dx.doi.org/10.32535/jcda.v7i2.2987.
Анотація:
Millennials and Generation Z, as the largest demographics entering the workforce, were anticipated to drive national progress. However, despite their significant numbers, many of them are experiencing high turnover rates. This study investigates the role of flexible work arrangements, job embeddedness, and work-life balance in suppressing turnover intention among millennials and Generation Z in multifinance companies at Jakarta headquarters. This research is quantitative research with non-probability sampling. The questionnaire was distributed to 280 respondents. The data analysis technique uses Partial Least Square (PLS) analysis tools. The results indicate that (1) flexible work arrangement has a significant negative impact on turnover intention; (2) flexible work arrangement has a significant positive impact on job embeddedness and work-life balance; and (3) flexible work arrangement has a significant negative impact on turnover intention which is partially intervened by job embeddedness and work-life balance. It is suggested for multi-finance companies to optimize flexible work arrangement practices by implementing work-life balance and job embeddedness to reduce turnover intention among millennials and Generation Z
6
Zhang, Shanshan, and Chang Liu. "State ownership and the structuring of lease arrangements." Journal of Corporate Finance 62 (June 2020): 101597. http://dx.doi.org/10.1016/j.jcorpfin.2020.101597.
7
Sand, Peter, Matthias Reuleaux, and Morten l. Hans Jakobsen. "Aircraft Repossession Under Leasing Arrangements Pursuant to Article 83bis Chicago Convention." Air and Space Law 44, Issue 6 (November 1, 2019): 545–64. http://dx.doi.org/10.54648/aila2019034.
Анотація:
Article 83bis of the ‘Chicago Convention of International Civil Aviation’ provides a scheme that allows the transfer of air safety and operation surveillance duties in the context of aircraft lease and charter arrangements from one state to another. The flexibility offered by the ‘Article 83bis scheme’ is frequently used to arrange lease transactions and lease-finance transaction in countries where leasing companies and financiers are otherwise hesitant to deal with due to reservations against the legal environment prevailing in such countries. This article analyses the pitfalls and hidden issues of such Article 83bis schemes from the perspective of a leasing company or financier.
8
Reilly, Thom, and Akheil Singla. "Union Business Leave Practices in Large U.S. Municipalities: An Exploratory Study." Public Personnel Management 46, no. 4 (August 26, 2017): 342–67. http://dx.doi.org/10.1177/0091026017726774.
Анотація:
This article examines union business leave (UBL) or official time practices among the 77 largest municipalities in the United States. Specifically, it evaluates UBL practices as articulated in 231 collective bargaining agreements (CBAs) of police, firefighter, and nonsafety public employee unions. Results indicate that UBL is prevalent as 72% of unions receive some kind of UBL, most frequently paid leave financed by the city or through cost-sharing arrangements. Empirical findings suggest these practices are driven by political factors, and that resource constraints or the state or regional-level environment are nonsignificant. The article discusses these results and offers a series of policy recommendations.
9
PACHAHARA, Shantanu, and Vikas GANDHI. "THIRD-PARTY FOUNDING IN INTERNATIONAL COMMERCIAL ARBITRATION: IT IS ABOUT TIME FOR REGULATIONS." Conflict Studies Quarterly, no. 41 (October 5, 2022): 60–77. http://dx.doi.org/10.24193/csq.41.4.
Анотація:
Third-party funding (TPF) is a species of the common law doctrine of maintenance and champerty. With the burgeoning of global trade, the need for funding arbitral proceeding of high magnitude have witnessed an upward trend. TPF is a method wherein the impecunious party to the dispute enters into a contract with a third-party, who is not a party to the arbitration agreement, to finance the arbitration proceeding and run the risk of either paying or receiving the proceeds, costs, or award awarded against or in favor of such party. TPF, on one hand, provides a gateway to justice to the impecunious party and on the other hand, causes an impediment to the recognition and enforcement mechanism of arbitral awards. TPF flourishes as an alternative to support arbitral proceedings by acting as an investment for the financers but what impact it has on the market, in the long run, is still unclear. TPF assists the struggling party to appoint highly qualified specialists and a learned arbitrator through financial assistance but restricts the party autonomy and raises justifiable doubts as to the independence and impartiality of the arbitrator due to the leverage the financer holds in such an arrangement. Last but not least, TPF may also, at times, result in the disclosure of attorney-client communication to the financer. The present article is an analytical study of TPF as a mechanism in international commercial arbitration and what challenges it poses to its practice. Moreover, the article places reliance on the work of various scholars, and adopting the inductive approach of reasoning, reflects upon the plausible remedies for challenges that TPF poses to international commercial arbitration. Keywords: Third-Party Funding; Commercial Arbitration; International; Challenges; Regulation.
10
Moon, Suerie, John-Arne Røttingen, and Julio Frenk. "Global public goods for health: weaknesses and opportunities in the global health system." Health Economics, Policy and Law 12, no. 2 (March 23, 2017): 195–205. http://dx.doi.org/10.1017/s1744133116000451.
Анотація:
AbstractSince at least the 1990s, there has been growing recognition that societies need global public goods (GPGs) in order to protect and promote public health. While the term GPG is sometimes used loosely to denote that which is ‘good’ for the global public, we restrict our use of the term to its technical definition (goods that are non-excludable and non-rival in consumption) for its useful analytical clarity. Examples of important GPGs for health include standards and guidelines, research on the causes and treatment of disease, and comparative evidence and analysis. While institutions for providing public goods are relatively well developed at the national level – being clearly recognized as a responsibility of sovereign states – institutional arrangements to do so remain fragmented and thin at the global level. For example, the World Health Organization, mandated to provide many GPGs, is not appropriately financed to do so. Three steps are needed to better govern the financing and provision of GPGs for health: first, improved data to develop a clearer picture of how much money is currently going to providing which types of GPGs; second, a legitimate global political process to decide upon priority missing GPGs, followed by estimates of total amounts needed; and third, financing streams for GPGs from governments and private sources, to be channeled through new or existing institutions. Financing should go toward fully financing some GPGs, complementing or supplementing existing national or international financing for others, or deploying funds to makepotentialGPGs less ‘excludable’ by putting them into the public domain. As globalization deepens the degree of interdependence between countries and as formerly low-income economies advance, there may be less relative need for development assistance to meet basic health care needs, and greater relative need to finance GPGs. Strengthening global arrangements for GPGs today is a worthy investment for improved global health in the years to come.
11
Kurteš, Siniša, Srđan Amidžić, and Perica Rajčević. "Balance of Payments Deficit and Currency Board Arrangement Sustainability in Bosnia and Herzegovina." Zagreb International Review of Economics and Business 23, s1 (December 1, 2020): 43–56. http://dx.doi.org/10.2478/zireb-2020-0022.
Анотація:
Abstract Constant current account deficit in Bosnia and Herzegovina results from a large foreign trade imbalance, which in turn is a consequence of uncompetitiveness of the economy in the global market. The current account deficit is mainly financed by foreign remittances, foreign aid, and least of all by foreign investment. Lately, the outflow of the active, working population has been decreasing the labor force (especially the qualified and highly educated employees), as well as the domestic demand, which will exert further pressure on the balance of payments account. On the other hand, monetary policy is operating under the principles of currency board, i.e. applying a firm exchange rate, so the question arises whether and to what extent it is sustainable, under the conditions of a high current account deficit. The purpose of this paper is precisely to examine the relation between the deficit of balance of payments and the sustainability of the currency board arrangement in Bosnia and Herzegovina, under such conditions.
12
Liu, Yen-Yu, Pin-Sheng Lee, and Chih-Hao Yang. "Correlation between distribution of cash dividends from capital reserves, ultimate controlling shareholders and corporate governance." Pacific Accounting Review 34, no. 3 (February 14, 2022): 385–98. http://dx.doi.org/10.1108/par-05-2021-0075.
Анотація:
Purpose This study aims to discuss whether a new accounting policy can help enterprises withstand operating risks and whether corporate governance can play a supervisory role. Taiwan took the lead worldwide in allowing companies to distribute cash dividends from capital reserves. Compared with traditional cash dividends distributed from retained earnings, this move was aimed at maintaining the stability of cash dividends and helping listed companies address the risks of temporary downturns. However, the distribution of cash dividends from capital reserves may violate the principle of capital maintenance and damage creditors’ equity. The authors sought to examine whether corporate governance could play a supervisory role. Design/methodology/approach The present study targeted Taiwanese listed companies and cited data from the Taiwan Economic Journal. The study period was from 2011–2019. The authors tested the hypotheses using the least square method. Findings The results showed that ultimate controlling shareholders of listed companies can maximize their own interests through ownership arrangements, whereas corporate governance cannot play a supervisory role nor protect creditors’ equity. The findings provide insight on whether, in the development process of corporate governance, appropriate measures are taken to protect creditors’ equity in addition to shareholders’ equity, or achieve a good coordination of interests among all stakeholders. Originality/value The ultimate controlling shareholders or directors of a listed company would seek to maximize their own interests, and transfer the operating risks to creditors through the arrangement of dividend policy, thus harming creditors’ equity. However, independent directors cannot play a supervisory role. The authors inferred that corporate governance standards previously focused on the shareholder level or alleviation of the agency problem between controlling shareholders and non-controlling shareholders but ignored creditors’ equity.
13
VAN HUIZEN, THOMAS, and JANNEKE PLANTENGA. "Making Transitions Pay: An Assessment of the Dutch Life-Course Scheme." Journal of Social Policy 39, no. 1 (June 25, 2009): 35–52. http://dx.doi.org/10.1017/s0047279409990043.
Анотація:
AbstractIntroducing individual savings accounts into the system of social security may be an innovative way to reorganise European social security systems. This article examines the merits and drawbacks of this modernisation strategy using the Transitional Labour Market approach as a frame of reference. On the basis of normative criteria derived from this approach, we perform an evaluation of the Dutch life-course scheme (‘Levensloopregeling’). This scheme is a unique and pioneering arrangement that offers employees a fiscally facilitated option to save money to finance periods of unpaid leave. Following the assessment of the Dutch case, we identify several pitfalls of reforms based on individual savings accounts. Finally, we put forward some proposals to overcome these shortcomings.
14
BONDS, MATTHEW H., and JEFFREY J. POMPE. "Improving institutional incentives for public land management: an econometric analysis of school trust land leases." Journal of Institutional Economics 1, no. 2 (December 2005): 193–215. http://dx.doi.org/10.1017/s1744137405000123.
Анотація:
There is considerable interest in the proper management of public lands in the United States, but questions arise over what institutional arrangements may ensure proper land stewardship. Recently, the trust doctrine has been heralded as a way to motivate prudent decision making by land managers. School trust lands, which are managed to generate revenues for public schools, represent a long-standing example of the trust doctrine at work. We examine Mississippi school trust leases and show that the trustees, who are elected officials, maintain multiple conflicting objectives, which ultimately undermine the trust relationship. However, we find that a recent institutional change that made the Boards of Education (the fund recipients) the trustees, caused revenues to increase dramatically.
15
Baldridgde, William. "Macroeconomic Management in a Decentralised Set-up (PANEL DISCUSSION-III)." Pakistan Development Review 49, no. 4II (December 1, 2010): 963–66. http://dx.doi.org/10.30541/v49i4iipp.963-966.
Анотація:
The issue of macroeconomic management in a decentralised set-up is a big question. My part of discussion will get more down into the nuts and bolts and as you see I will unfortunately ask a lot more questions. I think that it is very important that all parties have begin to equip themselves with relatively detailed knowledge of what is likely to occur in the shape and structure of government processes as the devolution of authority in 18th amendment begins to take place. It occurs to me the development stakeholders or the government of Pakistan and the provincial ministries of finance, the Planning Commission and the CCI and potentially others even including the international community. I think these bodes need to know how this devolution can actually occur. What are the actions necessary to develop a transparent budget and an auditable budget, procurements in expenditure processes at the provincial level that were administrated by the federal level in order to avoid macroeconomic management to continue to occur in decentralised set-up. The current arrangement provides as far as I know bulk of resources to be collected and controlled with the federal level. Also there is a significant share of responsibility currently with the federal government. These distributional arrangements will necessarily change as the budgetary regulatory framework for the 18th amendment becomes agreed upon. This regulatory framework is not really in place yet. A regulatory framework would need to be enacted and implemented. This means to me at least that an assessment of pre-18th amendment situation is needed to provide a base line to understand how the new structure will have to be reformed. An assessment perhaps should be done with a review of existing policies or to sort out what were the initial conditions going into 18th amendment. I think as federal and provincial governments are moving towards implementation, at both budgetary and operational levels, a few questions may be needed to be asked. One is how will the new responsibilities assigned to the provinces be financed? What will happen to federal government staff currently engaged in doing all the functions will no longer be with the federal government. How will the human and operational capacity at the provincial government level be developed with a particular emphasis on budgeting expertise and expenditure expertise. If there is going to be control and management at macro level, then there is going to be a tremendous amount of capacity required at the budgeting and expenditure level in the provinces. I think an assessment of the provincial capacity is a good idea.
16
Bako, Muhammad, and Shehu U. R. Aliyu. "Attaining Financial Inclusion through Ijarah Contract: Assessing the Potentials of Ijarah-Wa-Iqtina in Venture Financing of Tricycles in Kano Metropolis, Kano State, Nigeria." International Journal of Islamic Business & Management 2, no. 2 (November 14, 2018): 9–18. http://dx.doi.org/10.46281/ijibm.v2i2.204.
Анотація:
Ijarah-wa-iqtina, also known as Al-Ijarah Thummal Al-Bay (AITAB) is a leasing contract where the ownership of the leased asset is transferred to the lessee at the end of the leasing contract. With the inception of Ja’iz Bank Nigeria Plc, the product has grown in the Ja’iz Bank’s housing and auto-finance. Despite this popularity, majority of small scale businesses especially tricycle operators in Kano metropolis are still not aware of the product and the benefits attached to it. This research assesses the potentials of Ijarah-wa-iqtina in financing tricycle operation in Kano using a multiple regression model from a sample of 311 respondents. The study found myriad of problems associated with conventional mode financing arrangements prior to ijarah-wa-iqtina. It was also established that religious inclinations of respondents have strong influence on potential benefits from switching to ijarah-wa-iqtina. The paper recommends that Islamic financial institutions and well-to-do business persons in Kano metropolis on the need to promote both formal and non-formal Islamic finance among tricycles operators via ijarah-wa-iqtina.
17
Kaluthanthri, P. C., and H. M. A. G. T. M. Aluthgedara. "Reconfiguring Workspaces: Adaptations of Corporate Real Estate Design in the Context of the COVID-19 Pandemic and Economic Crisis in Sri Lanka." Asian Journal of Advanced Research and Reports 17, no. 11 (September 25, 2023): 111–25. http://dx.doi.org/10.9734/ajarr/2023/v17i11558.
Анотація:
Corporate Real Estate (CRE) pertains to the real estate assets utilized by businesses for their corporate operations. It serves as a conducive environment for accommodating staff, manufacturing and selling goods, and delivering services to customers. The COVID-19 pandemic has precipitated substantial changes in the utilization of office spaces by organizations. Prolonged lockdown measures and the adoption of remote work practices have resulted in the underutilization of office spaces across many organizations. Additionally, the aftermath of the pandemic has severely impacted the Sri Lankan economy, leading to decreased economic activities due to high inflation, import restrictions, and high finance rates. Consequently, organizations are compelled to modify their CRE environments to maximize its utilization which creates mixed views on its impact on financial and non-financial performance of the organization. Against this backdrop, the study examines the impact of modifications and adaptations in corporate real estate design on financial and non-financial performance of organizations. Total of 12 hypotheses were tested, exploring the association between changing organization structure, minimizing space requirement, workplace redesign, downsizing, work from home arrangement, and the utilization of co-working spaces, on financial and non-financial performance of the commercial real estates. The study population comprises executive employees involved in CRE decision-making within commercial real estates. A total of 164 respondents participated in a questionnaire survey, which was distributed online using convenience sampling techniques. The analysis employs Partial Least Squares Structural Equation Modeling (PLS-SEM) and adopts reflective constructs. This approach provides a robust conceptual framework for assessing the overall impact of changes in corporate real estate design on organizational performance. The findings of the study confirmed that changing organization structure, downsizing, work from home arrangements, have a significant positive impact on financial performances of commercial real estate. Moreover, minimizing space requirement, downsizing, work from home arrangements exhibit a positive significant relationship with the non-financial performances. The study's results provide insights into the relationship between decision-making on Corporate Real Estate (CRE) and its influence on the overall financial and non-financial performance of the commercial real estate. These findings assist top management in understanding the alignment required between future CRE strategic decisions and corporate performance.
18
Finau, Glenn, Kerry Jacobs, and Satish Chand. "Agents of alienation: accountants and the land grab of Papua New Guinea." Accounting, Auditing & Accountability Journal 32, no. 5 (June 17, 2019): 1558–84. http://dx.doi.org/10.1108/aaaj-10-2017-3185.
Анотація:
Purpose The purpose of this paper is to explore and examine the role of accounting and accountants in customary land transactions between Indigenous peoples and foreign corporate entities. The paper uses the case of two accountants who utilised accounting technologies in lease agreements to alienate customary land from Indigenous landowners in Papua New Guinea (PNG). Design/methodology/approach Employing a case study methodology, the paper draws on contemporary data sets of transcripts related to a Commission of Inquiry established in 2011 to investigate PNG’s Special Agricultural Business Lease system. Analysis of other publicly available data and semi-structured interviews with PNG landowners and other stakeholders supplement and triangulate data from the inquiry transcripts. A Bourdieusian lens was adopted to conceptualise how accounting was used in the struggles for customary land between foreign developers and Indigenous landowners within the wider capitalist field and the traditional Melanesian field. Findings This paper reveals how accountants exploited PNG’s customary land registration system, the Indigenous peoples’ lack of financial literacy and their desperation for development to alienate customary land from landowners. The accountants employed accounting technologies in the sublease agreements to reduce their royalty obligations to the landowners and to impose penalty clauses that made it financially impossible for the landowners to cancel the leases. The accountants used accounting to normalise, legitimise and rationalise these exploitative arrangements in formal lease contracts. Originality/value This paper responds to the call for research on accounting and Indigenous peoples that is contemporary rather than historic; examines the role of accountants in Indigenous relations, and examines the emancipatory potential of accounting.
19
Swastiningsih, Rahma Widya, and Endang Prasetyawati. "KEWENANGAN MENTERI.KEUANGAN DALAM.MENGAJUKAN PERMOHONAN PAILIT BUMN." Bureaucracy Journal : Indonesia Journal of Law and Social-Political Governance 2, no. 1 (April 30, 2022): 641–53. http://dx.doi.org/10.53363/bureau.v2i1.158.
Анотація:
State Owned Enterprises (SOE) are the state’s mediator that is expected to be able to achieve their initial goals as agents of development. However, such goals are often difficult to achieve because they are too costly. SOE’s performance is considered inadequate. It only delivers an insignificant impact which could lead to bankruptcy. This study examines how SOE bankruptcy arrangements are executed and what the authority of the minister of finance in submitting bankruptcy applications are. This study1uses a normative juridical method with a conceptual statutory approach to approach SOE bankruptcy arrangements in Law Number 37 of 2004 Article 21paragraph (5). The object in this study is Merpati Nusantara Airlines Ltd. The study found that only the finance minister is entitled to file a bankruptcy action for an SOE engaged in the public interest based on the elucidation of Article 2 paragraph (5) of Law Number 37 of 2004 regarding the authority to file a bankruptcy. In Law.Number 19.of 2003 concerning State-Owned Enterprises, in contrast to state-owned enterprises, whose capital is divided into shares, a public company is defined as a company whose capital is wholly owned by the state and is not divided into shares. All or at least 51%.are owned.by the state. Tge Supreme Court Decision Number: 447 K/pdt.sus-pailit/2016 rejected Sudiyarto and Jafar Tambunan's appeal. The judge's considerations rejected the appeal because the applicant was not entitled to file for bankruptcy. According to the judge, only the finance.minister can apply for bankruptcy
20
Damara, Gracia, and Mukti Rahardjo. "Job satisfaction sebagai mediasi terhadap pengaruh flexible work arrangements dan organizational justice dengan turnover intention karyawan." Jurnal Manajemen Bisnis dan Kewirausahaan 8, no. 1 (January 29, 2024): 1–15. http://dx.doi.org/10.24912/jmbk.v8i1.28392.
Анотація:
Human resources are one of the success indicators that drive the companies’ growth, and every company has different strategies to attract, motivate, and retain employees with the practice of many programs to increase the employees’ satisfaction in the company. High turnover can be a severe human resource management problem because employee turnover can affect the companies’ performance and productivity. This study analyzes the relationship between flexible work arrangements, organizational justice, and turnover intention through job satisfaction as a mediating effect. The subjects in this study are employees in multi-finance companies around Jabodetabek areas, with a sample of 150 responses. This study develops 7 hypotheses that will be analyzed using partial least squares-structural equation modeling (PLS-SEM). The results of this study indicate that flexible work arrangements do not have a significant effect on job satisfaction and turnover intention. Job satisfaction could not mediate the relationship between flexible work arrangements and turnover intention. Meanwhile, organizational justice has a positive effect on job satisfaction, a negative effect on turnover intention, and an indirect effect on turnover intention through job satisfaction. Job satisfaction also has a negative effect on turnover intention. That means organizational justice might contribute to increasing job satisfaction and decreasing turnover intention. Job satisfaction can decrease turnover intention and mediate the relationship between organizational justice and turnover intention of employees in multi-finance companies.
Sumber daya manusia merupakan salah satu faktor keberhasilan dalam perkembangan suatu perusahaan dan setiap perusahaan memiliki strategi yang berbeda untuk memberikan daya tarik, memotivasi, dan mempertahankan karyawan dengan cara menerapkan berbagai program yang berdampak pada kepuasan karyawan terhadap perusahaan. Tingkat turnover yang tinggi dapat menjadi permasalahan yang dapat berdampak pada kinerja dan produktivitas perusahaan. Penelitian ini bertujuan untuk menganalisis pengaruh antara pengaturan kerja fleksibel, keadilan organisasi, dan turnover intention melalui kepuasan kerja sebagai variabel mediasi. Subjek pada penelitian merupakan karyawan yang bekerja pada perusahaan pembiayaan di Jabodetabek sebanyak 150 responden. Penelitian terdiri dari 7 hipotesis yang dianalisis menggunakan Partial Least Square-Structural Equation Modelling (PLS-SEM). Hasil pengujian menunjukkan bahwa pengaturan kerja fleksibel tidak berpengaruh terhadap kepuasan kerja dan turnover intention, baik secara langsung maupun tidak langsung melalui kepuasan kerja. Sementara itu, keadilan organisasi berpengaruh positif terhadap kepuasan kerja dan berpengaruh negatif terhadap turnover intention secara langsung serta tidak langsung melalui kepuasan kerja. Kepuasan kerja juga memiliki hubungan negatif dengan turnover intention. Hal ini berarti keadilan organisasi dapat meningkatkan kepuasan kerja dan menurunkan turnover intention. Kepuasan kerja juga dapat menurunkan turnover intention secara langsung dan memediasi hubungan antara keadilan organisasi dan turnover intention karyawan pada perusahaan pembiayaan.
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Kim, Jung Suk, Bomin Ko, Yoon Heo, and Jee Hoon Lee. "Reshaping institutional arrangements for TPP ratification in Korea." Journal of Korea Trade 20, no. 2 (June 6, 2016): 167–85. http://dx.doi.org/10.1108/jkt-04-2016-0010.
Анотація:
Purpose – The purpose of this paper is to assess the current state of Korea’s internal negotiation system and the role of domestic policy factors in the process of Korea’s joining the mega FTAs such as Trans-Pacific Partnership (TPP). Design/methodology/approach – Along with Putnam’s three determinants of win-set size, the authors analyze a new set of policy factors – including Trade Adjustment Assistance (TAA), the FTA Domestic Planning Division, and the Trade Procedure Act – to examine the institutional arrangements available for the ratification of the TPP in Korea. Findings – To minimize the social cost of the internal negotiation process of the trade, better understanding of the role of domestic policy factors is essential. The paper proposes some important policy suggestions which will scale up the benefit of the trade. Research limitations/implications – The very same analysis can be easily extended to examine the domestic reactions for future FTA negotiation, especially for Mega FTA negotiation. Practical implications – The authors propose six policy suggestions: a Master Process Manual; measures to diagnose domestic reactions; emphasizing non-economic issues; strengthening human resources; considering the strategic role of the Trade Procedure Act; and reshaping TAA, to ensure that a tranquil environment exists for domestic negotiation and confirmation and the authors believe these policies can be implemented widely in trade negotiations. Originality/value – This paper contributes to the existing literature in at least three respects. First, the authors made the first attempt to integrate the domestic policy tools with the domestic determinants of trade negotiation outcomes. Second, the policy proposals can be extended to other countries’ cases with a minor adjustment. Finally, the analysis is based on the assumption that international trade negotiations are multi-level frameworks where domestic influences play a vital role in the aftermath of bilateral FTAs.
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Harwick, Cameron. "Inside and Outside Perspectives on Institutions: An Economic Theory of the Noble Lie." Journal of Contextual Economics – Schmollers Jahrbuch 140, no. 1 (January 1, 2020): 3–30. http://dx.doi.org/10.3790/schm.140.1.3.
Анотація:
If there exist no incentive or selective mechanisms that make cooperation in large groups incentive-compatible under realistic circumstances, functional social institutions will require subjective preferences to diverge from objective payoffs – a “noble lie.” This implies the existence of irreducible and irreconcilable “inside” and “outside” perspectives on social institutions; that is, between foundationalist and functionalist approaches, both of which have a long pedigree in political economy. The conflict between the two, and the inability in practice to dispense with either, has a number of surprising implications for human organizations, including the impossibility of algorithmic governance, the necessity of discretionary rule enforcement in the breach, and the difficulty of an ethical economics of institutions. Leeson and Suarez argue that “some superstitions, and perhaps many, support self-governing arrangements. The relationship between such scientifically false beliefs and private institutions is symbiotic and socially productive” (2015, 48). This paper stakes out a stronger claim: that something like superstition is essential for any governance arrangement, self- or otherwise. Specifically, we argue that human social structure both requires and maintains a systematic divergence between subjective preferences and objective payoffs, in a way that usually (though in principle does not necessarily) entails “scientifically false beliefs” for at least a subset of agents. We will refer to the basis of such preferences from the perspective of those holding them as an “inside perspective,” as opposed to a functionalist-evolutionary explanation of their existence, which we will call an “outside perspective.” Drawing on the theory of cooperation, we then show that the two perspectives are in principle irreconcilable, discussing some implications of that fact for political economy and the prospects of social organization.
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Harbridge, Raymond, and James Moulder. "Collective Bargaining and New Zealand's Employment Contracts Act: One Year On." Journal of Industrial Relations 35, no. 1 (March 1993): 62–83. http://dx.doi.org/10.1177/002218569303500104.
Анотація:
Thefirst year of bargaining under New Zealand's Employment Contracts Act brought some very significant changes to the nature and structure of bargaining outcomes. This paper reports a major study of collective bargaining outcomes. Collective bargaining is the preferred option for 80 per cent of employers with fifty or more staff; however, the number of workers covered by collective bargains in New Zealand dropped from 721 000 in 1989-90 to an estimated 440 000 by 1991-92. The collapse of collective bargaining did not occur evenly across industries. Significant collapses happened in agriculture, food and beverage manufacturing, the textile and clothing industry, the paper and printing industry, building and construction, retailing, restaurants and hotels and the transport industry. Collective bargaining retains a strong foothold in the electricity and gas production sector, the public sector, the finance sector, the communication industry and the basic and advanced metal manufacturing sectors. A content analysis of 471 collective employment contracts (covering nearly 130 000 workers) settled in the first year of the new legislation is reported here. The data show a wide dispersion of wage settlements as the comparative wage justice system collapses; about half of the workers in the sample, however, received either a wage decrease or no increase over the preceding settlement. Important changes to working time arrangements have been negotiated and these are reported along with other content changes to working time and leave arrangements.
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Rehman, Scheherazade S., and Pompeo Della Posta. "The Impact of Brexit on EU27 on Trade, Investments and Financial Services." Global Economy Journal 18, no. 1 (March 2018): 20170097. http://dx.doi.org/10.1515/gej-2017-0097.
Анотація:
On June 23, 2016, the UK decided to leave the European Union (EU), commonly known as “Brexit”. The UK has two years to conclude their new arrangement with the EU27 after evoking Article 50 Treaty of Lisbon officially, which it did on March 27, 2017. While there is a range of possible trade agreements most are unlikely as they would either imply repudiating firm EU legal principles or strong promises that the current UK government is committed to maintain. The article discusses these options. Moreover, the article focuses on the trade and investment flows between the UK and EU27 and discusses the possible short-term implications of Brexit with a specific attention to the most impacted sector, that of financial services.
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Armstrong, Angus. "EU membership, financial services and stability." National Institute Economic Review 236 (May 2016): 31–38. http://dx.doi.org/10.1177/002795011623600105.
Анотація:
This paper examines whether EU membership enhances or diminishes the UK's financial sector stability, and therefore its prominence in global finance. The UK is host to the largest share of financial services in the EU, despite being outside of the Eurozone. An important reason is that, as a member of the EU, the UK has direct access to the Eurozone's financial infrastructure. If the UK leaves the EU (and EEA) banks and other financial services firms may continue to have access to the Single Market, but they are unlikely to have direct access to the Eurozone's infrastructure. Banks in the UK will no longer be direct members the Eurozone's payments system. The swap arrangement between the European Central Bank and Bank of England would have no legal enforcement mechanism. Resolution of cross-border banks would be more challenging with less incentive for a cooperative outcome. While some may welcome the reduced size of the financial system, not without reason, this could be achieved more effectively with domestic regulation than by leaving the EU. Given the uncertainty that would follow a vote to leave, there is a risk of capital flight.
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Anton, Blanca, Soledad Cuevas, Mark Hanson, Zulfiqar Ahmed Bhutta, Etienne V. Langlois, Domenico Gerardo Iaia, Giulia Gasparri, and Josephine Borghi. "Opportunities and challenges for financing women’s, children’s and adolescents’ health in the context of climate change." BMJ Global Health 9, no. 4 (April 2024): e014596. http://dx.doi.org/10.1136/bmjgh-2023-014596.
Анотація:
Women, children and adolescents (WCA), especially in low-income and middle-income countries (LMICs), will bear the worst consequences of climate change during their lifetimes, despite contributing the least to global greenhouse gas emissions. Investing in WCA can address these inequities in climate risk, as well as generating large health, economic, social and environmental gains. However, women’s, children’s and adolescents’ health (WCAH) is currently not mainstreamed in climate policies and financing. There is also a need to consider new and innovative financing arrangements that support WCAH alongside climate goals.We provide an overview of the threats climate change represents for WCA, including the most vulnerable communities, and where health and climate investments should focus. We draw on evidence to explore the opportunities and challenges for health financing, climate finance and co-financing schemes to enhance equity and protect WCAH while supporting climate goals.WCA face threats from the rising burden of ill-health and healthcare demand, coupled with constraints to healthcare provision, impacting access to essential WCAH services and rising out-of-pocket payments for healthcare. Climate change also impacts on the economic context and livelihoods of WCA, increasing the risk of displacement and migration. These impacts require additional resources to support WCAH service delivery, to ensure continuity of care and protect households from the costs of care and enhance resilience. We identify a range of financing solutions, including leveraging climate finance for WCAH, adaptive social protection for health and adaptations to purchasing to promote climate action and support WCAH care needs.
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Habib, Ahsan, and Md Borhan Uddin Bhuiyan. "Overlapping membership on audit and compensation committees, equity holdings of overlapping members and audit outcomes." Accounting Research Journal 31, no. 4 (November 5, 2018): 509–30. http://dx.doi.org/10.1108/arj-09-2015-0116.
Анотація:
PurposeThis paper aims to examine the question of whether external auditors incorporate equity holdings by overlapping audit committee members as a priced governance factor and tests whether this attribute, as a mechanism for ensuring good governance, affects the propensity for external auditors to issue modified audit opinions.Design/methodology/approachOverlapping membership in this context refers to the arrangement where at least one audit committee member also sits on the compensation committee. Both ordinarily least square and logistic regression are used to capture the impact of overlapping committee members and equity holding of those overlapping committee members.FindingsUsing archival data from Australian Stock Exchange listed companies, the authors find support for the beneficial effect of having overlapping audit committee members with equity holdings. The authors also find that auditor propensity to issue modified audit opinions is lower for firms with equity holdings by overlapping audit committee members.Practical implicationsThe finding has practical implication to the investors and regulators as overlapping audit committee members with equity holdings may provide especially effective oversight by monitoring opportunistic accounting policy choices for maximizing compensation pay. To the extent that this occurs, audit risk will decrease, requiring less audit effort and lower audit fees than would otherwise be necessary. Similarly, such oversight is likely to make financial reporting more credible and will reduce the possibility of receiving modified audit opinions by reporting organizations.Originality/valueBoth audit and compensation committees are equally important in modern organizations. While both of the committee have distinctive responsibilities, questions remain on the desirability of overlapping audit committee. Also, this is the first study to the authors’ knowledge that incorporates overlapping membership on audit and compensation committee as an important component of auditor risk perception which regards in pricing the audit fees.
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Janssen, Maarten, and Sandro Shelegia. "Beliefs and Consumer Search in a Vertical Industry." Journal of the European Economic Association 18, no. 5 (September 11, 2019): 2359–93. http://dx.doi.org/10.1093/jeea/jvz046.
Анотація:
Abstract This paper studies vertical relations in a search market. As the wholesale arrangement between a manufacturer and its retailers is typically unobserved by consumers, their beliefs about who is to be blamed for a price deviation play a crucial role in determining wholesale and retail prices. The common assumption in the consumer search literature is that consumers exclusively blame an individual retailer for a price deviation. We show that in the vertical relations context, predictions based on this assumption are not robust in the sense that if consumers hold the upstream manufacturer at least partially responsible for the deviation, equilibrium predictions are qualitatively different. For robust beliefs, the vertical model can explain a variety of observations, such as retail price rigidity (or, alternatively, low cost pass-through), nonmonotonicity of retail prices in search costs, and (seemingly) collusive retail behavior. The model can be used to study a monopoly online platform that sells access to final consumers.
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Sánchez Sánchez, Francisca Jesús, Ana María Sánchez Sánchez, Noemí Pulido, and Diego Vicente Borrero Molina. "Measuring the labour efficiency in Andalusia (Spain): A DEA approach." Investigaciones Regionales - Journal of Regional Research 49 (May 3, 2021): 113–30. http://dx.doi.org/10.38191/iirr-jorr.21.005.
Анотація:
This paper analyses the labour efficiency in Andalusia, and takes into account labour and demographic characteristics of the Andalusian municipalities. Data Envelopment Analysis (DEA) is the methodology employed. The results obtained indicate differences at the municipal level that depend on the geographical arrangement, with the provincial capitals being the least efficient. An inverse relationship is established between the size of the municipality (in terms of number of inhabitants) and its labour efficiency: the smaller the size of the municipality, the greater the efficiency. The distance to the capital is also important in establishing the efficiency: the greater the distance to the capital, the greater the efficiency.
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Vedoveli, Paula. "Information brokers and the making of the Baring crisis, 1857–1890." Financial History Review 25, no. 3 (December 2018): 357–86. http://dx.doi.org/10.1017/s0968565018000173.
Анотація:
This article offers a new interpretation of the Baring crisis, the most dramatic financial collapse of the nineteenth century, by focusing on how information brokerage allowed Barings to abandon its risk-averse practices in the mid 1880s. I argue that the mediators who bridged structural holes (gaps between social clusters) shaped actors’ access to information as well as their expectations regarding its quality. Information brokers who enjoyedphilosties with at least one of the parties connected by the bridging relationships could promote collaborative arrangements more likely to survive an environment of heightened uncertainty. The performance of such brokers in the 1880s enabled cooperation between Baring Brothers & Co. and the Banque de Paris et des Pays Bas and supported the London house's growing association with the Anglo-Argentine firm of S. B. Hale & Co. in the second half of the 1880s. Cooperation gave Barings an illusion of security amid the costs of increasing competition and supported the house's growing engagement in South American affairs. Nevertheless, the strategy proved ineffective at barring the entry of new players. By the late 1880s, ties produced by brokerage connected Barings to the house's former competitors, producing a cohesive social cluster. Barings thereafter had access to redundant information, which hindered the house's ability to assess risk.
31
Sahasranaman, Anand, Vishnu Prasad, and Aditi Balachander. "Housing Choice as a Function of Risks Confronting Low-income Households." Journal of Emerging Market Finance 19, no. 1 (December 9, 2019): 100–118. http://dx.doi.org/10.1177/0972652719877475.
Анотація:
The design of housing solutions for low-income populations has been one of the most pressing policy concerns in developing countries like India. In this work, we explore the effect of risks confronting low-income households—unemployment, health and mortality—on their choice of housing arrangements. We use simulations to study the evolution of long-term wealth of a stylised low-income household faced with these risks and find that, on average, rental housing significantly reduces the risk of undesirable wealth fluctuations over time. From a policy perspective, this means greater focus and incentives for the development of low-income rental markets using strategies such as provision of rental vouchers, rent-to-own models or long-term leases, in addition to the traditional ownership-based housing strategies. The development of housing solutions encompassing a range of rental and ownership models will be critical to ensuring the availability of safe and affordable housing for all urban residents. JEL Codes: C63, O18
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Prabowo, Hendi Yogi. "Days of post-pandemic future: re-imagining corruption practices in a world that won’t stop changing." Journal of Financial Crime 29, no. 2 (October 29, 2021): 541–63. http://dx.doi.org/10.1108/jfc-10-2021-0219.
Анотація:
Purpose The purpose of this paper is to propose a new analytical framework in examining corruption from the social ontology perspective by using the Schatzkian practice theory to assess the interconnectedness among social practices constituting the social reality. Design/methodology/approach This exploratory paper is part of the author’s study to assess the complex corruption phenomenon in Indonesia from multiple perspectives to gain a better understanding of its nature and dynamics. By drawing from the existing literature on the Schatzkian practice theory, the COVID-19 pandemic and the corruption phenomenon, this study investigates the potential changes of the new constellation of practice-arrangement bundles within the social reality and how such changes may alter corruption practices in the future. Furthermore, this study also uses publicly available reports from several national and international agencies to explore possible future scenarios from the interconnectedness of corruption, anti-corruption and pandemic practices. This paper constructs a new analytical framework for assessing the corruption phenomenon and designing the most appropriate anti-corruption strategy from such an exploration. The framework also serves as a reference for future anti-corruption research. Findings The author establishes that all social phenomena are constructed by an interconnected, dynamic and ever-changing constellation of practice-arrangement bundles within the social reality. As a largely social phenomenon (at least in Indonesia), corruption is also constructed by webs of practice-arrangement bundles. For decades, corruption practices in Indonesia have always been interconnected with anti-corruption practices in ways that changes in one group of practices will drive changes in the others. With the adoption of the pandemic practices centered around social distancing, social restriction and social safety net, corruption practices appear to transform to adapt to the new environment. Therefore, future anti-corruption research should aim to examine the structure and dynamics of corruption, anti-corruption and pandemic practices to highlight changes or potential changes within the three groups of practices to determine the most appropriate intervention measures and anti-corruption strategy. Research limitations/implications This exploratory study is self-funded and relies primarily on documentary analysis to explore the corruption phenomenon in Indonesia. Future studies will benefit from in-depth interviews with former corruption offenders and corruption investigators. Practical implications This exploratory paper contributes to developing a sound corruption prevention strategy by proposing a new analytical framework for assessing various social practices, particularly those associated with corruption and the COVID-19 pandemic. Originality/value This paper highlights the importance of understanding the structure, interconnectedness and dynamics of social practices, particularly associated with the COVID-19 pandemic, to better understand the corruption phenomenon.
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Tabash, Mosab I., Suhaib Anagreh, Bilal Haider Subhani, Mamdouh Abdulaziz Saleh Al-Faryan, and Krzysztof Drachal. "Tourism, Remittances, and Foreign Investment as Determinants of Economic Growth: Empirical Evidence from Selected Asian Economies." Economies 11, no. 2 (February 6, 2023): 54. http://dx.doi.org/10.3390/economies11020054.
Анотація:
This research discovers how international tourism affects the economic growth of selected Asian states, e.g., Bangladesh, China, India, Pakistan, and Sri Lanka, throughout 2001–2019. To attain this objective, we have employed various regression estimation approaches, e.g., Fixed Effect Model (FEM) and Fully Modified Ordinary Least Square (FMOLS) technique. The statistical results of the applied techniques reveal that international tourism activities have a positive and significant effect on the GDP growth rate because such kinds of activities considerably contribute to creating opportunities that lead to hoist economic activities and economic growth. Moreover, an influx of tourism increases tourism activities and operations, which opens further doors to opportunities and generates revenue for the government. Similarly, the GDP per capita has been positively and significantly influenced by international tourism activities. The government and host country should emphasize the activities and operations regarding tourism and should also concentrate on the dynamic role, importance, and sensitivity of tourism operations in under-analyzed economies. This research brings a new arrangement of the variable, which has never been considered in prior literature.
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Olivieri, Annamaria, and Ermanno Pitacco. "Time Restrictions on Life Annuity Benefits: Portfolio Risk Profiles." Risks 10, no. 8 (August 12, 2022): 164. http://dx.doi.org/10.3390/risks10080164.
Анотація:
Due to the increasing interest in several markets in life annuity products with a guaranteed periodic benefit, the back-side effects of some features that may prove to be critical either for the provider or the customer should be better understood. In this research, we focus on the time frames defined by the policy conditions of life annuities. While the payment phase coincides with the post-retirement period in the traditional annuity product, arrangements with alternative time frames are being offered in the market. Time restrictions, in particular, could be welcomed both by customers and providers, as they result in a reduction in expected costs and equivalence premiums. However, due to the different impact of longevity risk on different age ranges, time restrictions could increase risks to the provider, at least in relative terms. On the other hand, time restrictions reduce the duration of the provider’s liability, which should therefore be less exposed to financial risk. We focus on this issue, examining the probability distribution of the total portfolio payout resulting from alternative time frames for life annuity arrangements, first addressing longevity risk only, and then including also financial risk. The discussion is developed in view of understanding whether a reduction in the equivalence premium implied by time restrictions should be matched by higher premium loading and required capital rates.
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Lautenberg, Alexis P. "Developing Trade in Services." National Institute Economic Review 250 (November 2019): R30—R33. http://dx.doi.org/10.1177/002795011925000114.
Анотація:
Executive SummaryServices are simultaneously the most important sector of the UK economy and the sector facing the biggest challenge as a result of Brexit. The prospective departure from the European Single Market reduces the UK to the status of ‘3rd country’ in respect of services. Accessing the internal market will depend on both subjective and objective conditions that differ from sector to sector, requiring detailed and highly specific arrangements for such industries as aviation and financial services.In practice, the EU can be expected to use these circumstances to discourage the UK from significantly diverging from European regulatory norms, as a matter of policy. In view of the weakness of, and uncertainty surrounding, international moves to oversee, let alone to further liberalise, trade in services, Brexit will thus leave the UK's services sector – and especially financial services – uniquely isolated and exposed. The government will hence need to consider carefully the costs of decisions to diverge from EU regulatory standards, and should be giving great priority to establishing clear objectives for close cooperation between the UK and the EU policy makers and regulators.
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Brott, Simone. "Calatrava in Athens. The architect as financier and the iconic city." Journal of Public Space 2, no. 1 (May 1, 2017): 15. http://dx.doi.org/10.5204/jps.v2i1.47.
Анотація:
<p>Today, iconic architecture is the dominant mode of contemporary public life, but the wishes of the European city and role of public space are based on financial emergencies—even if the term ‘financial’ is screened out by the mesmeric distraction of such spectral, prodigal buildings. While iconic architecture parades as visual stunt—an “avant garde” project of the digital image that violently pushes physics and engineering to its limits—such projects are only made possible by giant debt arrangements; and, as I will argue, their primary agenda is to solve serious financial problems. Yet, not only do these projects often fail to generate the future income (fictitious capital) promised and thus leave the town with an impossible 30-year mortgage that might never be repaid, iconic developments also have the power to contribute to distortions of capital (economic crises) beyond the project and the city itself. This essay will examine the Olympic development and iconic objects designed by Santiago Calatrava for the Athens Summer Games in 2004, and the dual Olympic-budget crisis and national crisis that converged on Calatrava’s project. After the games, the Greek Olympic development attracted considerable financial critique from outside the architectural discipline: economists debated how the Olympic development was implicated in the Greek crisis, and a parallel Left protest-movement against Calatrava, the public figure, for financial corruption through iconic projects gained traction. Regardless of the veracity of these arraignments; in Greece, I propose the Olympic development became a visual cipher for the ongoing Greek crisis. Calatrava’s project illustrates the ways in which National crises in Europe today are played out via architectural icons, and the transformation of public space into both a financial medium and narrator of financial crisis.</p>
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Busquin, Philippe. "Les changements en Belgique de 1980 à 2000 : La vue d'un président de parti." Res Publica 42, no. 1 (March 31, 2000): 89–96. http://dx.doi.org/10.21825/rp.v42i1.18531.
Анотація:
Several reforms were brought into force in Belgium in the last twenty years. First of all, Belgium has become a federal state with its typical characteristics of assymetry and complexity: it consists of three regions and three communities which do not coincide completely. The federalisation process has led to linguistic agreements between the Flemish and the French community taking largely into account the specific situation of Brussels. Also budgettary agreements concerning the financing of the communities and the regions are a product ofthe federalisation process. In these decades Belgian government has also significantly taken care of its public finances: The deficit has decreased and Belgium now finds itself in the European average but it has given Belgium governments a hard time. Today Belgium has reached the objectives necessary to participate at the european monetary union.Fundamental changes in society have put ethical questions on the political agenda. This has led to arrangements in one way or another on subjects like abortion and made discussions on euthanasie and the use of soft drugs at least possible.Last but not least new rules were adopted concerning democracy and the functioning of political parties. Especially the way political parties will befinanced has been take care of but also measures increasing equality between men and women and procedures for more direct democracy. The reform of the judiciary has been tackled.These changes put forward that the role of the party leaders altered considerably. At the interface of political convictions and the management ot the state, the position is loaded multifunctionally due to the several levels of policymaking and the various ways of political expression. "One bas to strive for the ideal without overlooking the real".
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Clelland, David. "Beyond the city region? Uneven governance and the evolution of regional economic development in Scotland." Local Economy: The Journal of the Local Economy Policy Unit 35, no. 1 (February 2020): 7–26. http://dx.doi.org/10.1177/0269094219899917.
Анотація:
The sub-national governance of economic development in the UK has, since 2010, been reconfigured towards city-regions and ‘place-based’ approaches at least notionally embedded in specific local needs and resources. In the context of asymmetric decentralisation and fiscal austerity, this raises questions about places outside or peripheral to this framework, and the risk of further divergence in relative capacities to ‘do’ economic development. While changes in England are subject to extensive critique, institutional arrangements in Scotland have received less attention, having avoided comparable dramatic restructuring. The governance of economic development has however undergone significant evolution, with elements of both centralisation and regionalisation apparent. This paper maps emerging sub-national geographies in Scotland through the lens of state rescaling and multi-scalar governance. Analysing processes of change, it argues that the UK Government’s extension of ‘City Deals’ to Scotland made more explicit tensions within an existing city-regional approach and prompted greater attention to implications for peripheral and non-city regions. The introduction of Deals for non-city regions, a system of regional economic partnerships, and a new enterprise agency for the rural South, can all be seen as attempts to reconcile this focus on city-regions as drivers of growth with a desire for ‘regional equity’, and as the latest developments in an ongoing search for the appropriate scales for policy.
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Irumba, Richard. "An empirical examination of the effects of land tenure on housing values in Kampala, Uganda." International Journal of Housing Markets and Analysis 8, no. 3 (August 3, 2015): 359–74. http://dx.doi.org/10.1108/ijhma-11-2014-0044.
Анотація:
Purpose – The purpose of this paper is to investigate the impact of land tenure on housing values in metropolitan Kampala. Design/methodology/approach – A hedonic model is used to test the relationship between housing prices, land tenure and housing attributes using a cross-sectional dataset of transaction prices for 590 newly built houses sold in 2011. Findings – Public leaseholds in Kampala offer a premium of 23 per cent in housing values compared to freeholds. This could be due to a lack of formal systems for the assessment of leasehold premium and ground rent charges, an arrangement which can offer utility to the lesse at the expense of lessor, thereby making leaseholds popular on the market, or the developers’ lack of information on the benefits of freehold causing them to value leaseholds higher than freeholds. Similarly, private mailo tenure offers a 12 per cent premium in housing values compared to freeholds. There is no significant impact of Kabaka’s mailo tenure on housing values. When compared to private mailo, public leaseholds offer an 11 per cent premium in housing values. Practical implications – There is a need to advance leasehold as the urban land tenure for Uganda, disentangle multiple-layers of ownership on mailo land and roll out the land fund to enhance growth of the housing market in Kampala. Originality/value – This paper is the first of its kind to empirically examine the impact of mailo land tenure on housing values. Findings provide useful insights for investors and policymakers in the housing sector in Uganda.
40
Gaspar, Katalin, France Portrait, Eric van der Hijden, and Xander Koolman. "Global budget versus cost ceiling: a natural experiment in hospital payment reform in the Netherlands." European Journal of Health Economics 21, no. 1 (September 16, 2019): 105–14. http://dx.doi.org/10.1007/s10198-019-01114-6.
Анотація:
Abstract Global budget (GB) arrangements have become a popular method worldwide to control the rise in healthcare expenditures. By guaranteeing hospital funding, payers hope to eliminate the drive for increased production, and incentivize providers to deliver more efficient care and lower utilization. We evaluated the introduction of GB contracts by certain large insurers in Dutch hospital care in 2012 and compared health care utilization to those insurers who continued with more traditional production-based contracts, i.e., cost ceiling (CC) contracts. We used the share of GB hospital funding per postal code region to study the effect of contract types. Our findings show that having higher share of GB financing was associated with lower growth in treatment intensity, but it was also associated with higher growth in the probability of having at least one hospital visit. While the former finding is in line with our expectation, the latter is not and suggests that hospital visits may take longer to respond to contract incentives. Our study covers the years of 2010–2013 (2 years before and 2 years following the introduction of the new contracts). Therefore, our results capture only short-term effects.
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MEARDON, STEPHEN. "RECIPROCITY AND HENRY C. CAREY’S TRAVERSES ON “THE ROAD TO PERFECT FREEDOM OF TRADE”." Journal of the History of Economic Thought 33, no. 3 (September 2011): 307–33. http://dx.doi.org/10.1017/s1053837211000228.
Анотація:
Free trade and protectionist doctrines have long had ambiguous relationships to bilateral trade deals, known throughout the nineteenth century as “reciprocity” arrangements. Henry C. Carey, “the Ajax of Protection” in the nineteenth-century United States, embodies the ambiguity from one side of the controversy. Carey’s early adulthood in the mid- to late 1820s was a time when the forerunners of the Whig Party pursued reciprocity at least partly as a means of fostering protection. In the 1830s, Carey, too, endorsed reciprocity—because he stood for free trade and believed reciprocity would promote it. In the 1840s and 1850s Carey changed his mind, decided that protection was the real “road to perfect freedom of trade,” and for that reason opposed reciprocity with Canada. In the 1870s he remained a protectionist but reconciled his doctrine with reciprocity. This article attempts to explain the changes in the disposition toward reciprocity of America’s foremost protectionist thinker from the Second Party System to the generation after the Civil War.
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Jayantha, Wadu Mesthrige, and Olugbenga Timo Oladinrin. "Evaluating the effect of new working practices on office space usage in Hong Kong." Journal of Corporate Real Estate 21, no. 4 (November 11, 2019): 346–66. http://dx.doi.org/10.1108/jcre-06-2019-0030.
Анотація:
Purpose Many organizations in Hong Kong have witnessed a reduction in average space usage due to high occupancy costs. New working practices (NWPs) are viewed as a reform tool to manage expensive real estate around the world. However, it is unclear whether NWPs influence office space usage in business organizations in Hong Kong. This study, therefore, aims to evaluate if the average space reduction in office firms is caused by the NWPs in the finance, insurance, real estate and business (FIREB) firms. Design/methodology/approach A total of 20 NWPs were initially derived from the extant literature. A questionnaire survey was conducted with listed FIREB firms in Hong Kong to assess the impact of the identified NWPs on space usage. The data collected from the questionnaire survey were analysed using descriptive, explorative factor analysis (EFA) and partial least squares-structural equation modelling (PLS-SEM) to evaluate the effects of NWPs on average space usage. Findings Results revealed that four major NWP factors influence average space usage. Three of these factors, namely, “flexible arrangement”, “multitasking knowledge workers” and “teamwork and communication”, influence space usage positively. Even though the effect of the fourth factor “training and networking” was significant, it does not reflect a positive influence on space usage. Business organizations can focus more on the implementation of NWPs to cushion the effects of the high cost of occupancy. Originality/value The research provides new knowledge to the limited literature on the effect of NWPs in FIREB firms and enriches the growing body of international literature on how today’s competitive global business organizations should revisit their workplace strategies to accommodate the rising agile workforce and NWPs. The findings offer new insights into the ongoing debate on the impact of information and communication technology-enabled NWPs on space usage. From the real estate perspective, the findings should inform policymaking towards the better planning ahead of office properties to accommodate NWPs, helping Hong Kong to remain competitive as a key financial centre.
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Njeru, N, Mukiri Wa Githendu, and J. Murungi. "Impact of Specific Leaf Extracts on Soil pH and Beta-Carotene in Amaranthus in Kiambu County, Kenya." Asian Journal of Agricultural and Horticultural Research 11, no. 2 (April 15, 2024): 63–69. http://dx.doi.org/10.9734/ajahr/2024/v11i2314.
Анотація:
Amaranthus (Amaranthus spp.) leaves are a good source of nutrients including vitamins antioxidants and dietary minerals including calcium, iron, and potassium. Soil pH is a very important chemical property of the soil, as it dictates the availability of plant nutrients. Acidic soils reduce availability of plant nutrients and hinder growth. This is corrected by adding lime which is expensive, does not add nutrients and requires re-application. The objective of this study was to evaluate the effects of leaf extracts from selected tree leaves on soil acidity and beta-carotene levels of amaranthus. Plant leaves that were tested were Turril (Vitex keniensis) Mexican sunflower (Tithonia diversifolia) and Indian nettle (Plectranthus barbatus). The experiment setup was in a 2 x 7 factorial arrangement in a randomized complete block design(RCBDreplicated three timesThe treatments were; the three leaves extracts, lime, farm yard manure, inorganic fertilizer and control.. Leaves were dried,ground and soaked in distilledwater for sixty days as pH was monitored and the resulting extract was added to soil for amanthus grown with plant extracts. Data on plant height, leaf area, number of leaves, fresh weight and dry weight and levels of beta carotene levels were collected. AOAC method was used for analysis of beta carotene. All data was subjected to analysis of variance (ANOVA) at 5% level of significance using SAS and least significant difference (LSD) for means separation. The results showed that leaf extracts significantly reduced soil acidity to above (6) while inorganic fertilizer increased the acidity (pH5.9) to (5.3) on all growing conditions while humus increased acidity during rainy and irrigation conditions. On beta carotene levels, Farmyard Manure had the highest levels(51.1µg) followed by the leaf extracts with extract 3-Plectras barbatus having higher levels. Control had the lowest levels of beta carotene followed by inorganic fertilizer and lime.These results suggest that farmers should be encouraged to grow vegetables using farmyard manure and leaf extracts to increase antioxidant levels and reduce soil acidity.They should also be encouraged to grow more of trees and shrubs studied to increase forest cover.
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Fisher, T., and K. Singh. "Geospatial Analysis of Informal Settlement Development in Cape Town." South African Journal of Geomatics 12, no. 2 (August 7, 2023): 206–20. http://dx.doi.org/10.4314/sajg.v12i.2.7.
Анотація:
Informal settlements are a major influence in the urban growth of developing countries such as South Africa. There are also associated with negative socio-economic factors such as unemployment and are lacking in terms of secure land tenure arrangements. This research focuses on developing a geospatial understanding of the internal dynamics of informal settlement development within the City of Cape Town. To investigate how informal settlements are established and developed in a local context, the informal settlements of Imizamo Yethu, Langa, and Siqalo were monitored for the period 2011-2019 using image classification to determine the development, complexity, and compactness of the dwellings. The overall accuracy of the classified maps thus developed ranged between 88 and 96%. Change detection analysis was subsequently used to identify the geospatial trends for each informal settlement across all three. The combination of linear regression and ordinary least squares analysis determined that the major spatial trend driving growth was densification, which was correlated with the availability of open space, unemployment, poverty, and GDP. Furthermore, densification was identified along the major formal external transport routes and informal internal transport networks. It was found that individual settlements present unique internal geospatial development dynamics in the macroeconomic context of Cape Town, but that these tend to differ in the microeconomic context of the city. Among the explanatory variables for this situation were sloped lands, employment opportunities, and neighbouring areas where the incomes of the residents were higher. Across all the informal settlements, open space proved to be the most significant factor, while GDP played the most influential role in explaining shack compactness over time. This study could be used to contribute to policy and decision-making in the formalisation process in these informal settlements.
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Kastberg, Gustaf, and Cristian Lagström. "Processes of hybridization and de-hybridization: organizing and the task at hand." Accounting, Auditing & Accountability Journal 32, no. 3 (March 18, 2019): 710–26. http://dx.doi.org/10.1108/aaaj-08-2017-3103.
Анотація:
Purpose The problematization indicates the need for enhancing the understanding of hybrid settings as potentially dynamic, changing and fragile. The purpose of this paper is to generate the knowledge through a conceptualization of the relationship between hybrid organizing and object, helping us understand how and why hybridization takes place or de-hybridizing occurs. Design/methodology/approach The study is based on a longitudinal qualitative case study of an attempt to introduce cost-benefit calculations as a management initiative in the social sector. In total, 18 observations of meetings and 48 interviews were done. Findings The main contribution is the empirically detailed description of how hybridizing must be understood in connection to a complex task at hand. A core observation is how complexity is escaped by either an intensive framing or compartmentalization – the former either leading to a disciplined hybrid allowing efficient action or to a hot and contested situation characterized by inertia. The latter, compartmentalization, presupposes less complexity with the potential of full de-hybridization into single-purpose organizing, failing to deal with the complex task at hand. Research limitations/implications A limitation is the one case approach and further research could focus on other settings. Practical implications The paper provides concepts useful for analysis of specific cooperative arrangements. Social implications The authors believe that the findings can bring useful insights to professionals, policy makers and others who are engaging in and addressing complex societal issues, not least within the public sector, a matter all too often overlooked by the accounting research community. Originality/value The originality of the paper is the focus on the organization and control in relation to the task at hand.
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Kusiyah, Kusiyah, Mansoor Mushtaq, Shabbir Ahmed, Ansar Abbas, and Mochammad Fahlevi. "Impact of Urbanization on Environmental Eminence: Moderating Role of Renewable Energy." International Journal of Energy Economics and Policy 14, no. 2 (March 15, 2024): 244–57. http://dx.doi.org/10.32479/ijeep.14232.
Анотація:
In the era of modernization, the movement of the multitude from rural to urban regions all over the globe is rising swiftly. This movement crafts so many socio-economic prospects for the masses. However, in chorus, it has made severe challenges for the eminence of the environment due to a decrease in forestation and the arrangement of more buildings and plants, causing CO2 emissions. It is unmanageable to edge the endurance of urbanization, and the issue is how we can switch its adversative effects on the environment. This study investigated the moderating role of renewable energy consumption in the urbanization-CO2 nexus. For this study, twenty-three of the most urbanized economies from around the world were chosen from 1997 to 2021. Three econometrics techniques are applied for empirical investigation: fixed effect model, robust least square and panel quantile regression with twelve model specifications. The dependent variable is carbon dioxide (CO2) emissions. The explanatory variables are gross fixed capital formation, patent application, inflation, financial development, industrial growth, urbanization and interaction term of renewable energy and urbanization. To check the robustness of empirical findings, we used four different proxies of (CO2) emissions and three different proxies of urbanization. In our empirical findings, patent application, inflation and industrial growth are positively and significantly associated with all proxies of CO2 emissions. While financial development is inversely and significantly allied with CO2 emissions. The impact of all proxies of urbanization is positive and significant on CO2 production. But the moderating effect of renewable energy on environmental depredation is inverse and significant. It suggests using clean and renewable energy and developing the financial sector to improve the eminence of the environment. Our research aligns with the sustainable development goals and the corporate social responsibility stream, making some valuable contributions to the body of previously established research.
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Iddrisu, Adam, Isaac Gershon Kodwo Ansah, and Paul Kwame Nkegbe. "Effect of input credit on smallholder farmers’ output and income." Agricultural Finance Review 78, no. 1 (February 5, 2018): 98–115. http://dx.doi.org/10.1108/afr-05-2017-0032.
Анотація:
Purpose The purpose of this paper is to examine the effect of input credit on smallholder farmers’ output and income using Masara N’Arziki support project in Northern Ghana. Design/methodology/approach A cross-sectional primary data set was used to estimate the effect of project participation on farm output, yield and income using propensity score matching (PSM) methods. Findings The findings are that project participation is skewed towards experienced farmers with big-sized households and farms. The effect of project on outcomes is somewhat unsatisfactory in the sense that participation only raises output and yield, but not income. Research limitations/implications The paper only examined the project effect on farm outcomes among smallholder farmers participating in the programme in just one operational area in the Northern region. Future research should consider all the operational areas for an informed generalisation of findings. Practical implications Greater benefits to farmers from programme participation would require project management to review the contractual arrangement so that the high cost of input credit is significantly reduced. Originality/value The paper applied the PSM to estimate the effect of project participation on farm output, yield and income among smallholder farmers which is non-existent in the literature on the study area, at least as far as we know. This paper can inform future policy on the direction and nature of support for smallholder farmers in Northern Ghana.
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Hughes, Michael P., and Chris Palke. "The Bank For International Settlements: An Evolutionary Institution." Journal of Business Case Studies (JBCS) 15, no. 1 (May 10, 2019): 19–28. http://dx.doi.org/10.19030/jbcs.v15i1.10281.
Анотація:
Established in 1930 in Basel, Switzerland, to expedite and supervise the payment of reparations by Germany to the victors of World War I, the Bank for International Settlements (BIS) quickly evolved into a banking establishment for various national central banks to negotiate and work out mutually-beneficial monetary policies and financial arrangements outside of the usual political and national channels. During World War II the BIS stayed open as a neutral central bank for central banks and provided significant back-channel communications between the Allied and Axis powers that could not have occurred any other way. As an example, discussions for the reconstruction of post-WWII Germany were underway between German and Allied representatives to the BIS at least two years prior to Germany’s surrender in May 1945. The post-WWII BIS then went on to become a global central bank for the world’s national central banks. In spite of the BIS holding so much effective financial power on an international scale and, hence, affecting nearly everyone in the world, few have ever heard of the BIS. This includes many economists and financial-economists. Why? Although technically not a secret organization, the BIS has always maintained an intentionally low profile. The BIS has never advertised its existence. It operates through many other organizations it has either directly created or where it holds major influence. This paper discusses the BIS, its history, and its impact and influence on world events. Questions concerning the role the BIS should possibly play in world events and central banking are raised for discussion near the end of this paper.
This paper is focused primarily towards both upper-level undergraduate and graduate finance and economics courses, particularly in the areas of money, banking and financial institutions, financial markets, and monetary policy. However, other courses, to include those outside of the financial-economic arena, can find great use for this subject matter as well. Such outside arenas could include political science and history courses.
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Backues, Lindy. "Merely Rearranging Deck Chairs on the Titanic?" OKH Journal: Anthropological Ethnography and Analysis Through the Eyes of Christian Faith 7, no. 2 (July 31, 2023): 1–14. http://dx.doi.org/10.18251/okh.v7i2.189.
Анотація:
Our present situation finds us navigating a ship while avoiding at least three treacherous and menacing icebergs. The first is the global environmental crisis we face. By itself, this iceberg threatens to sink our ship, yet we seem blissfully to voyage along, either completely unaware of the dangers it poses or in complete denial that anything so menacing could possibly be lurking just over the rail of our ship. The second iceberg is the global pandemic all of us recently experienced. It is no exaggeration to say that this crisis prompted every government on earth to put its economy into a “coma”. No one had a way out, nor did we have any idea how long the problem would last, and experts now tell us this will not be our last pandemic. The third iceberg is the spate of violence and state-sanctioned murders that have been directed toward persons of color, especially toward young black men. Prejudicial, inequitable arrangements found in state configurations across the globe seem to be baked into our world economic order and—alongside the other two icebergs—these threaten to sink our ship unless we come up with social and economic solutions rather quickly. Our present financial and economic order—our ship—seems ill-equipped to navigate these waters. In this article, I take a rather detailed look at the educational as well as the financial makeup of our ship. It seems that our vessel needs a radical rebuild, a deep-grammar remodification that requires a rethink of our views on education and of the outsized role high finance plays on our world stage today. We are in desperate need of a deeply probing realignment, changes helpfully suggested by way of looking at these crises through an “ESG Impact Investing” lens. ESG approaches offer us deeply insightful environmental, socio-spiritual, and governance/power critiques, provided all three of these factors are deeply appraised and sincerely and holistically considered.
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Valarino, Isabel, Gerardo Meil, and Jesús Rogero-García. "Family or state responsibility? Elderly- and childcare policy preferences in Spain." International Journal of Sociology and Social Policy 38, no. 11/12 (October 8, 2018): 1101–15. http://dx.doi.org/10.1108/ijssp-06-2018-0086.
Анотація:
PurposeSpain is typically considered a familialistic country where the family is the main responsible for individuals’ well-being. Recent demographic, socioeconomic and policy changes raise the question to what extent familialism is regarded as the preferred care arrangement in society or whether more state support is considered legitimate. The purpose of this paper is to analyse individual preferences among Spanish residents regarding care responsibility for pre-school children and the frail elderly, and the factors that influence such preferences.Design/methodology/approachRepresentative data from the 2012 International Social Survey Programme are used (n=1419). Six patterns of care responsibility that capture preferences regarding who, between the family or the state, should provide and pay for the care of pre-school children and the frail elderly are identified. Logistic regressions are performed on each care responsibility pattern to analyse the factors influencing individuals’ preferences.FindingsMultiple preferences coexist and state responsibility is often preferred over family responsibility, especially for elderly-care. It suggests that the tendency to rely on the family in Spain is due to insufficient support rather than to familialistic values. Individuals who usually bear most care work responsibilities, such as women and individuals in caring ages, or those with a poor health, high care load or low income consider there should be extra-family support. Individuals’ values also matter: the least religious, the most supportive of maternal employment and left-wing voters are most likely to reject traditional care arrangements.Originality/valueThis is the first study to analyse both elderly- and childcare policy preferences in one single study. It shows that childcare is more often seen as a family responsibility than elderly care.