Search results for "Finance"
showing 10 items of 4676 documents
La Place de l'Etat en Afrique selon la Banque mondiale : De l'ajustement structurel à l'ajustement social. Les limites d'une politique néo-libérale «…
2007
07003 - 17 p.; Les Documents de travail de l'IREDU 2007/3; Cette contribution a pour objectif d'analyser le changement de discours que porte la Banque mondiale sur la réforme de l'État en Afrique, et ce dans la sphère éducative. Après examen, il ressort que malgré les nouveaux discours de « lutte contre la pauvreté », la politique néo-libérale de la Banque mondiale accorde à l'État une place toujours aussi mineure dans la conception et l'exécution des politiques éducatives. On aurait pu croire à la réalité d'une évolution de la politique d'ajustement structurel stricte vers une politique d'ajustement social où des acquis fondamentaux seraient pris en compte concernant le domaine social. Il …
Director Compensation Incentives and Acquisition Outcomes
2018
The principal objective of this chapter is to investigate the relation between director compensation structure and shareholder interests in the context of acquisitions. Our evidence suggests that acquirer firms that compensate their directors with a higher proportion of incentive-based compensation have significantly higher stock returns around the announcement. An increase in director equity-based pay results in a lower probability of value-destroying acquisitions and a lower acquisition premium for targets. We further find that acquirers with higher equity-based pay exhibit greater improvements in stock price and operating performance following acquisitions.
Robots, labor markets, and universal basic income
2020
Automation is a big concern in modern societies in view of its widespread impact on many socioeconomic issues including income, jobs, and productivity. While previous studies have concentrated on determining the effects on jobs and salaries, our aim is to understand how automation affects productivity, and how some policies, such as taxes on robots or universal basic income, moderate or aggravate those effects. To this end, we have designed an experiment where workers make productive effort decisions, and managers can choose between workers and robots to do these tasks. In our baseline treatment, we measure the effort made by workers who may be replaced by robots, and also elicit firm repla…
The Impact of the New Rural Cooperative Medical Scheme on Township Hospitals' Utilization and Income Structure in Weifang Prefecture, China
2017
The New Rural Cooperative Medical Scheme was gradually introduced from 2003 in China. This paper is based on a representative survey of 24 randomly selected township hospitals in Weifang prefecture over the period 2000-2008. Using a generalized form of differences-in-differences model, it aims to assess the effect of the reform on the utilization and income structure of the township hospitals. The estimations provide three main results linked to the effects of the New Rural Cooperative Medical Scheme on the behavior of the key stakeholders (households, health care providers and Health Bureau). Firstly, the reform had positive impacts on the utilization of township hospitals, particularly on…
Industrial organization with profit rate maximizing firms
1995
We study the impact on industrial organization of the switching of objective function, from pure profit to profit rate maximization. The output level of firm is lower at optimum. This lead to a new conception of efficiency. Cases of no coordination are considered. In perfect competition, price signal disappears; factors remain paid at their marginal productivity, but modified. In imperfect competition, reaction functions may vanish even if collusion remains possible; limit of oligopoly remains perfect competition of profit rate; the paradox of Bertrand may remain; a new concept is studied: mixed duopoly, where firms can choose and change their objective.
Influencia de los factores de contingencia en el desarrollo del cuadro de mando integral y su asociación con un rendimiento mejor. El caso de las emp…
2016
En este trabajo se analiza la relación entre algunos factores de contingencia, el nivel de uso del cuadro de mando integral (CMI) y el beneficio percibido gracias a su aplicación. El CMI es una herramienta capaz de ofrecer a los responsables de las organizaciones una visión completa de cómo a través de la integración de medidas financieras y no financieras se ejecuta la estrategia. Del análisis realizado sobre la base de los datos obtenidos de las sedes centrales de 61 empresas españolas de productos y servicios se deduce que el grado de formalización y estandarización en las empresas tiene una influencia directa y positiva en el desarrollo del CMI hacia niveles más integradores y orientado…
Les limites de la procédure d'estimation de Kmenta d'une fonction CES généralisée
1982
Finance journal rankings : A paper affiliation methodology
2022
PurposeIn this paper, the authors use a new methodology, called paper affiliation index, to create finance journal ranking using expert judgment and research impact, both of which are based on secondary, objective measures, thus making it possible to produce lists every year without human manipulation at virtually no cost.Design/methodology/approachBibliometrics. Python implementation.FindingsA new ranking with 65 finance journals.Research limitations/implicationsThis procedure helps to reduce bias and to deal with known problems associated with current methodologies. The data used in the methodology comes from public sources; the procedure is therefore easily replicable. This methodology i…
Neuroethics 1995-2012. A bibliometric analysis of the guiding themes of an emerging research field
2016
International audience; In bioethics, the first decade of the twenty-first century was characterized by the emergence of interest in the ethical, legal and social aspects of neuroscience research. At the same time an ongoing extension of the topics and phenomena addressed by neuroscientists was observed alongside its rise as one of the leading disciplines in the biomedical science. One of these phenomena addressed by neuroscientists and moral psychologists was the neural processes involved in moral decision-making. Today both strands of research are often addressed under the label of neuroethics. To understand this development we recalled literature from 1995 to 2012 stored in the Mainz Neu…
Interplays Between Corporate Reputation And Media – A Bibliometric Analysis
2020
Abstract As strategic asset – determinant of sustained competitiveness – corporate/firm reputation has a very distinctive feature that sets it apart: although reflection of (better, worse or not at all performed) reputation management at a company’s level, it is rather a “representation” / “perception” – built on a business’s previous behaviors, but more precisely on the ways its different stakeholders have interacted (acknowledged, internalized, resonated) with them – in a (sometimes unconscious) process highly mediated and moderated by the media. Thus, the current study aims to explore the interplays between corporate/firm reputation and media as they are reflected in the scientific liter…