Search results for "Economies"

The cost of equity and exchange listing evidence from the French stock market

1997

We reconsider the behaviour of prices around the period close to the listing on the Marché à Règlement Mensuel (RM). First, an event study based on a sample of 60 firms has been set up to test the existence of the exchange listing effect on the French market. Then we discuss and test the financial reasons which can justify abnormal returns around the announcement day and the day of the listing. We explore four reasons to explain the impact of the stock exchange listings: one is the informative content of the operation which induces an upward revision of the future earnings. Three other hypotheses rely on a decrease in the discount rate originated by less risky cash flows, an increase in tra…

Diversity of human capital attributes and diversity of remunerating systems

2008

08004 - 17 p.; Document de travail de l'IREDU 2008-02; This paper aims at comparing the respective impact of the traditional Human Capital Variables (HCV) and of competences explicitly assessed on employees' remuneration. The data are derived from an original survey conducted in five large banking companies in Portugal. Six hundred clerks were interviewed regarding their individual characteristics (age, gender, education, experience in the labour market, experience in the company). Their respective supervisors were asked to assess their competences using a list of thirty skills. Complementary models are used in this research, relating to earnings and the distribution of profit shares to emp…

Advanced Services and European Integration. The Potential of Regions in East Central and Eastern European Countries.

2006

Advanced services and city globalization on the Eastern fringe of Europe

2007

Capital cities in East Central and Eastern European Countries (ECEEC) are changing rapidly. Since the 1990s, the ECEEC capitals have faced the double challenge of the market (the transition process) and of integration in the world economy (the globalization process), which supposes a sufficient development of coordination functions and thus of advanced services concentrated in these cities (city globalization). Their capacity to join the network of global cities is evaluated on the basis of their relative specializations in advanced services and their connections with the rest of the world. The comparative analysis leads to contrasted globalization perspectives. Thus, Budapest, Prague and W…

Composition des dépenses publiques et impacts sur la croissance économique : analyses théoriques et empiriques sur des panels de pays développés, éme…

2016

The economic role of the State has been the subject of much debate both from theoretical and the practical perspectives. The actors of these controversies include the objectors of the efficiency of the public intervention since Smith to the present days, Keynesians and economists of the synthesis. Topics ranging from principle of the invisible hand, tax, expectations, burden of the debt, crowding out effect, public sector production are treated through of such debates. The work explains the breakdown of public spending components and implications for countries at levels development (OECD, BRICS, and WAEMU). The study also indicated that the effects of the public spending and its components …

Interrogation sur la nature et la formation des grandeurs économiques : la question de la valeur et de la mesure en économie

2016

To investigate on the question of the formation of the economic magnitudes, and on the question of value seems to be pointless, since those notions appear to be understood and to fall under the scope of our daily experiment. We show in the present work that several fundamental concepts and central notions do not receive a proper definition within our discipline. As a consequence, it is all the economic discourse that is weakened, at such a point that it talks about things that, actually, do not exist, but in the economist’s mind, and do not consider its true matter. In our wage economy, value is sometimes created sometimes destructed respectively in the formation and the destruction of inco…

Excluding the Poor : globalisation and educational systems

2002

02062; International audience; The article starts from the fact that one billion adults are illiterate world-wide, that more than 100 million children of school age are not schooled, and that the democratisation of the access to education is often only rhetorical. On the basis of available statistics it tackles successively three questions. First, who finances education and how much do they spend? Secondly, what resources or means are devoted to the education of an individual, and how can these data be evaluated. And finally, do the inequalities between individuals, social groups or nations tend to de- or increase with respect to education access. It will be shown that, for example, in deve…

Drivers and barriers of inter-municipal cooperation in health services – the Norwegian case

2018

Inter-municipal cooperation in service delivery is widespread, as is the notion that this type of cooperation is primarily driven by economies of scale. However, the empirical results appear to be ...

Discrimination based on place of residence and access to employment

2014

International audience; The purpose of this study is to assess the degree of employment discrimination against young people according to their place of residence. We considered several spatial scales in order to measure the effect of the reputation of the administrative department or county, the town or municipality and of the local neighbourhood. The evaluation is performed using correspondence test data carried out between October 2011 and February 2012. We studied 2988 candidacies that were submitted to 498 job offers (waiters and cooks) within the restaurant industry and located in the Paris area. Statistical and econometric results pointed out that resident effect is significant and im…

Does politics matter in the conduct of fiscal policy? Political determinants of the fiscal sustainability: Evidence from seven individual Central and…

2007

This paper aims at assessing the fiscal sustainability and its political determinants in seven Central and Eastern European Countries (CEEC), namely Estonia, Latvia, Lithuania, Poland, Slovenia, Slovakia and the Czech Republic. First, using the recent sustainability approach of Bohn (1998) based on fiscal reaction function, econometric findings using Ordinary Least Squares (OLS) reveal a positive response of the primary surplus to changes in debt in several countries. In other words, fiscal policy is sustainable in Baltic countries, Slovenia and Slovakia, but not in Poland and in the Czech Republic. Second, by introducing political dummy variables, we test the electoral budget cycle and the…