Search results for "porat"
showing 10 items of 1595 documents
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…
Resistance to Change in the Corporate Elite
2017
In this empirical study, we investigate the variation in firms’ response to institutional pressure for gender-balanced boards, focusing specifically on the preservation of prevailing practices of director selection and its impact on the representation of women on the board of directors. Using 8 years of data from publicly listed Nordic corporations, we show societal pressure to be one of the determinants of female directorship. Moreover, in some corporations, the director selection process may work to maintain “a traditional type of board”. In such boards, demographic diversity among male members appears to be associated with a lower share of female directors, although we cannot establish w…
Measuring well-being in Colombian departments. The role of geography and demography
2021
This paper provides a composite indicator of well-being for the 33 Colombian departments in the year 2016. The indicator is built by adapting the well-known OECD Better Life Index to the regional level, and includes the dimensions of income, health, education, safety, housing, environment, labour market, and civic engagement and governance. As to the methodology, Data Envelopment Analysis and Multi-Criteria Decision-Making techniques are employed, an approach which enables a comparison of well-being across departments and the construction of rankings. The results yield several take-away messages. First, there are substantial disparities in well-being across Colombian departments. Second, de…
A comparison of corporate social responsibility engagement in the OECD countries with categorical data
2015
This note presents a new method to compare the engagement level of the OECD countries with the corporate social responsibility (CSR) activities when achievements of their companies are described by CSR standards. We introduce the eigenvector procedure developed by Herrero and Villar (2013), applying the analysis of group performance with categorical data. We find that differences in CSR engagement across OECD countries are quite low in the top and the bottom of the eigenvector classification compared with those of the GRI index. However, there are important differences across countries placed in the middle rank of these two classifications.
Female Institutional Directors on Boards and Firm Value
2016
The aim of this research is to examine what impact female institutional directors on boards have on corporate performance. Previous research shows that institutional female directors cannot be considered as a homogeneous group since they represent investors who may or may not maintain business relations with the companies on whose corporate boards they sit. Thus, it is not only the effect of female institutional directors as a whole on firm value that has been analysed, but also the impact of pressure-resistant female directors, who represent institutional investors (investment, pension and mutual funds) that only invest in the company, and do not maintain a business relation with the firm.…
Do credit constraints reduce foreign jobs? A note on foreign direct employment
2014
This article studies the effect of credit constraints on the jobs created by multinational enterprises in host countries. Although most FDI is labour intensive, few studies delve into the determinants of foreign direct employment (FDE). This article constructs a model of limited commitment between the financed and financing parties to explain how FDE is affected by financial frictions. Moreover, this study examines FDE’s determinants empirically on a global data set including FDE data from 161 countries during 2003–2010 by means of the gravity equation. Results show that credit constraints during the Great Recession roughly halved FDE, tripling the effect on FDI and suggesting that domestic…
Multinational enterprises and wage costs: vertical FDI revisited
2005
Abstract This study explores how wage costs for high-skilled and less-skilled labor in host countries affect the level of affiliate activities conducted by foreign MNEs. We find support for vertical FDI, in the sense that more FDI is conducted in countries where less-skilled labor is relatively cheap. In addition, we find that skilled-wage cost premia also affect FDI activities previously associated with horizontal FDI, i.e. local affiliate sales. Consequently, the potential effects of relative wage costs on MNE activities are large. Rough calculations suggest that more than 20 percent of US affiliate sales in 1998 can be attributed to skilled-wage cost premia.
Why Do Managers Leave Their Organization? : Investigating the Role of Ethical Organizational Culture in Managerial Turnover
2016
The aim of the present longitudinal study was to quantitatively examine whether an ethical organizational culture predicts turnover among managers. To complement the quantitative results, a further important aim was to examine the self-reported reasons behind manager turnover, and the associations of ethical organizational culture with these reasons. The participants were Finnish managers working in technical and commercial fields. Logistic regression analyses indicated that, of the eight virtues investigated, congruency of supervisors, congruency of senior management, discussability, and sanctionability were negatively related to manager turnover. The results also revealed that the turnove…
La comunicazione istituzionale nelle organizzazioni pubbliche: opportunità e criticità connesse con il corporate brand orientation
2015
Corporate communication in public sector organizations: the opportunities and challenges of a corporate brand orientation. Over the past thirty years, the New Public Management (NPM) has been the dominant approach in the public sector. Leveraging the idea that citizens are customers of the administration, the NPM imports management principles and techniques from the private sector in order to improve the performance of public organizations. After a short description of the main problems associated with the implementation of market orientation in the public sector, this article examines corporate brand orientation as an interesting alternative to market orientation in the public context. Cor…
Does competition enhance the double-bottom-line performance of microfinance institutions?
2020
Abstract This paper investigates how competition affects the double-bottom-line performance of microfinance institutions (MFIs). While classical economic theory highlights that competition enhances efficiency and benefits both customers and firms, we argue that this is unlikely to apply to institutions operating in socially oriented industries, such as microfinance. Using a cross-country dataset of 4576 MFI-year observations (1139 unique MFIs) operating in 59 countries over a 10-year period (2005-2014), we find that competition has an adverse effect on MFIs’ economic sustainability and that competition undermines their breadth of outreach but enhances their depth of outreach. These results …