Search results for "ORGANIZATIONS"
showing 10 items of 864 documents
Outside‐in Politicization of EU–Western Africa Relations: What Role for Civil Society Organizations?
2021
This article explores the empirical relevance of researching outside-in politicization processes in European studies. To this end, it examines to what extent and how civil society organizations (CSOs) have contributed to the politicization of EU policies towards Western Africa in two cases: the negotiation of Economic Partnership Agreements and the EU's engagement with the G5 Sahel. CSOs were strongly engaged in the trade negotiations, while they were largely excluded from the G5 Sahel process. In both cases this was due to CSOs' own initiatives, or the absence thereof, with these strongly linked to being either invited or discouraged by official actors. The article argues that authority tr…
Oil price risk in the Spanish stock market: An industry perspective
2014
Abstract This study examines the sensitivity of the Spanish stock market at the industry level to movements in oil prices over the period 1993–2010, paying special attention to the presence of endogenously determined structural changes in the relationship between oil price changes and industry equity returns. The empirical results show that the degree of oil price exposure of Spanish industries is rather limited, although significant differences are found across industries. The oil price sensitivity is very weak in the 1990s, a period of fairly stable and low oil prices. Instead, the link between crude oil and stock prices seems to have increased during the 2000s, becoming primarily positiv…
The Impact of Entrepreneur-CEOs in Microfinance Institutions: A Global Survey
2013
- Peer reviewed Microfinance is a global high-growth industry, in which entrepreneurship is prevalent and substantial. Based on the theoretical argument that microfinance entrepreneur-CEOs are “motivated agents” with a unique ability to hire and socialize mission-oriented staff, we hypothesize that these CEOs produce more sustainable microfinance institutions with better social performance and lower costs. This study utilizes data from 295 microfinance institutions in 73 developing countries, assessed between 1998 and 2010. Our empirical evidence suggests that entrepreneur-managed microfinance institutions feature higher social performance, greater financial sustainability, and lower costs.
The monitoring role of female directors over accounting quality
2017
Recent research in accounting suggests female directors exert more stringent monitoring over the financial reporting process than their male counterparts. However, an emerging literature in finance and economics provides mixed findings and questions whether females in leadership roles significantly differ from their male counterparts. Building on this literature, we re-examine the link between the presence of female directors, gender biases, and financial statements quality. Using a large sample of UK firms we find that a larger percentage of women among independent directors is significantly associated with lower earnings management practices. However, we show that this relation disappears…
The board of directors and dividenc policy: the effect of gender diversity
2015
In this article, we aim to study the impact on dividends policy of gender diversity on the board of directors (hereinafter BD). We hypothesize that the proportion of women directors, the proportion of independent, institutional, and executive female directors, and the percentage of shares held by female directors on BD, have an impact on the dividends policy of Spanish companies. Our findings, analyzing the whole sample, show that the proportion of female directors and shares held by female directors are positively associated with dividend payout, while the percentage of institutional female directors has a negative impact. The percentage of independent and executive female directors has no…
Job protection deregulation in good and bad times
2019
Abstract This paper explores the short-term employment effect of deregulating job protection for regular workers and how it varies with prevailing business cycle conditions. We apply the local projection method to a newly constructed dataset of major regular job protection reforms covering 26 advanced economies over the past four decades. The analysis relies on country-sector-level data, using as identifying assumption the fact that stringent dismissal regulations are more binding in sectors that are characterized by a higher ‘natural’ propensity to make regular adjustments to the workforce. We find that the response of sectoral employment to deregulation depends crucially on the state of t…
Technological change and wage premiums amongst high-skilled labour
2019
This study examines the impact of the steam engine, which produced wide and long-lasting economic growth from the 19th century to the early 20th century, on the wages of high-skilled seamen in the Swedish merchant maritime shipping industry. The analysis focuses on the years 1869–1914, which was a transition period during which traditional sailing ships were replaced by steam-powered vessels. The study shows that all high-skilled occupations received wage gains under steam technology. The evidence on wage polarization amongst the high-skill occupations remains subtle, although there is certain evidence that wage premiums vary by occupation. peerReviewed
Do Scarring Effects of Low-Wage Employment and Non-Employment Differ BETWEEN Levels of Qualification?
2014
This study investigates how the effects of low-wage employment and non-employment on wage prospects vary depending on qualification. Based on theories on signalling effects, human capital and job search, we discuss why there may be heterogeneity in state dependence in both labour market states. We find that episodes of low-wage employment incur a significantly lower risk of future non-employment than episodes of non-employment for low-qualified workers. In contrast, for workers with a middle or high level of qualification the risk of non-employment is not significantly different when being low-paid instead of not employed.
Tax Liability and Tax Evasion in a Competitive Labor Market
2005
In a competitive labor market, a change in the legal incidence of a tax on labor will not alter employment if tax obligations are fulfilled. However, this irrelevance result may no longer apply if taxes can be evaded. In particular, a shift from payroll to income taxes will lower employment. This will be the case if workers exhibit constant absolute risk aversion, have a utility function, which is strongly separable in income and the disutility from working, and the penalty for evasion is not proportional to the amount of taxes evaded. Accordingly, tax evasion opportunities can make the legal incidence of a tax on labor an important determinant of its economic incidence.
Sheepskin Effects in the Spanish Labour Market: A Public–Private Sector Analysis
2005
ABSTRACT The aim of this paper is to contrast the nature of the effect of education, Human Capital or Screening, in the Spanish labour market. We use the Hungerford and Solon methodology to distinguish between the returns to schooling from mere years of schooling as a reflection of their productive–enhancing contribution (human capital) and the returns to schooling from academic certificates as signals of the individual’s ability (sheepskin effects). We separate our data into public and private sector workers. In the public sector the institutional restriction in the access and in the wage settings might force certificate rewards. Those not necessarily should be interpreted as sheepskin eff…