Всего статей в данном разделе : 3403
Опубликовано на портале: 29-10-2008Franklin Allen Oxford Review of Economic Policy. 2005. Vol. 21. No. 2. P. 164-177 .
Most of the literature on corporate governance emphasizes that firms should be run in the interests of shareholders. This is an appropriate objective function when markets are perfect and complete. In many emerging economies this is not the case: markets are imperfect and incomplete. The first theme of the paper is that alternative firm objective functions, such as pursuing the interests of all stakeholders, may help overcome market failures. The second theme is that it is not necessarily optimal to use the law to ensure good corporate governance. Other mechanisms such as competition, trust, and reputation may be preferable.
Опубликовано на портале: 15-12-2002Yishay Yafeh Oxford Review of Economic Policy. . Vol. 16. No. 2. P. 74-84.
Much has been written about the Japanese model of corporate governance. This article describes the evolution of corporate governance in Japan since the Second World War, and surveys the empirical evidence on its performance. Although there is substantial evidence on the effectiveness of the Japanese system, there is also evidence on its significant shortcomings. The article also evaluates the effects of the current macroeconomic and banking crises on corporate governance in Japan, and suggests possible directions for future changes, which are likely to make Japan more similar to the U.S. in this respect.
Corporate Governance in Transition: Ten Empirical Findings on Shareholder Value and Industrial Relations in Germany. [статья]
Опубликовано на портале: 20-11-2008Martin Höpner MPIfG, Discussion Paper. 2001. No. 01/5.
Within the context of debates over national “varieties” of capitalism, this paper discusses the shareholder value orientation of the 40 largest listed German companies. Three dimensions of shareholder value are distinguished: the communicative dimension, the operative dimension and the dimension of managerial compensation. A shareholder value index compiling data on accounting, investor relations, variable top-management compensation and the implementation of profitability goals makes it possible to compare the shareholder orientations of the companies. The shareholder value phenomenon is explained first by the exposure to markets – the international product market, capital market pressures and the market for corporate control – and, secondly, by internal developments – changing management careers, increasing management compensation and reduced monitoring by banks and corporate networks – which cause external impulses to increase shareholder value to fall on fertile ground. Conflicts over shareholder orientation result in changing coalitions between shareholders, management, and employees. Shareholder value does not make companies opt out of central collective agreements or endanger the existence of employees’ codetermination, but it does lead to more market-driven industrial relations.
Опубликовано на портале: 20-11-2008Martin Höpner Comparative Politics. 2007. Vol. 39. No. 4. P. 401-420.
Why do German Social Democrats opt for more corporate governance liberalization than the Christian Democrats, although in terms of the distributional outcomes of such reforms the situation should be reversed? This empirical puzzle seems to contradict insights from comparative political economy and the varieties of capitalism approach, in particular. Social Democrats and trade unions adopted their liberal attitude to company regulation after World War II. In the 1970s competition policy was introduced to make Keynesian macroeconomic policy work. Since the 1990s labor favored shareholder-oriented reforms because they helped employee representatives in conflicts over managerial control. The analysis has implications for partisan theory, institutional complementarity, and conflict models in comparative political economy.
Corporate Governance versus Economic Governance: Banks and Industrial Restructuring in the U.S. and Germany [статья]
Опубликовано на портале: 17-11-2008Sigurt Vitols WZB Discussion Paper. 1995. No. 95-310 .
This paper critically examines the debate on corporate governance and the claim (often made in Anglo-American companies) that the close links between German banks and industry are primarily responsible for the longer-term investment strategies and greater quality competitiveness of German manufacturing. Instead, it is argued here that manufacturing investment and bank behavior must be examined within a broader system of economic governance. In particular, the regulation of labor markets is a key factor influencing company choices between price and quality-competitive strategies. The corporatist regulation of German labor markets has encouraged quality-competitive strategies by keeping labor costs out of competition to a greater extent than in the US, where a collapse in pattern bargaining in core manufacturing industries and the strategic use of bankruptcy was motivated by companies' attempts to gain a comparative price advantage on the basis of lower labor costs. This argument is supported through a case study of the restructuring of the steel industry in Germany and the US in the 1980s.
Опубликовано на портале: 22-05-2004Lane Kenworthy American Sociological Review. 2002. Vol. 67. No. 3. P. 367-388.
A number of studies have found an association between corporatist institutions and low unemployment in the 1970s and 1980s. Three gaps in the understanding of corporatism's labor market effects are addressed. The results suggest that wage coordination was conducive to low unemployment in the 1980s because it fostered moderation in labor costs, spurred faster economic growth, and encouraged governments to more aggressively pursue policies to reduce unemployment.
Опубликовано на портале: 15-12-2002Patrik Aspers American Journal of Economics and Sociology. 2001. Vol. 60. No. 2. P. 519-545.
The aim of this paper is to present the economic sociology of Vilfredo Pareto. It is argued that Pareto represents a mode of thinking that has not been used in economic sociology and barely considered in the other branches of sociology. The habitual bifurcation of Pareto into the economist and the sociologist is rejected. Pareto stresses the non-logical parts of human life, and he provides empirical examples of this in his writing. He was occupied with the dynamics in society as a result mainly of non-logical actions. It is shown how one may speak of a distinctly Paretian economic sociology, which primarily has its origin in his theoretical discussions. It is also shown that Pareto conducted empirical studies drawing from his version of economic sociology. Included is a presentation, as well as a discussion of Pareto's idea of rentiers and speculators, which is followed up by a more general discussion of economic types in the market.
Опубликовано на портале: 15-12-2002Veronika Tacke, Oriel Sullivan British Journal of Sociology. 2001. Vol. 52. No. 2. P. 331-347.
Some macro-sociological questions about changes in broad categories of time-use are addressed. Reference is made to some well-known sociological and historical accounts of such change, and to the fact that time-use diary data has only relatively recently become available for analyzing trends over time. The data used are drawn from a comparative cross-time data archive held by the Institute for Social and Economic Research at Essex University, comprising successive time-use diary surveys from a range of industrialized countries collected from the 1960s to the 1990s. The time use evidence suggests relative stability in the balance between work and leisure time over the period covered by the analyses. Some alternative explanations are advanced for why there seems to be a gap between this evidence and, on the one hand, the burgeoning literature in both academic and popular media addressing the time famine and, on the other, people's professed experience of what is happening to their time.
Cultural diversity at work: The effects of diversity perspectives on work group processes and outcomes [статья]
Опубликовано на портале: 15-12-2002Robin J. Ely, David A. Thomas Administrative Science Quarterly. 2001. Vol. 46. No. 2. P. 229-273.
This paper develops theory about the conditions under which cultural diversity enhances or detracts from work group functioning. From qualitative research in three culturally diverse organizations, three different perspectives on workforce diversity are identified: 1. the integration-and-learning perspective, 2. the access-and-legitimacy perspective, and 3. the discrimination-and-fairness perspective. The perspective on diversity a work group held influenced how people expressed and managed tensions related to diversity, whether those who had been traditionally underrepresented in the organization felt respected and valued by their colleagues, and how people interpreted the meaning of the racial identity at work. By identifying the conditions that intervene between the demographic composition of a work group and its functioning, the research helps to explain mixed results on the relationship between cultural diversity and work group outcomes.
Опубликовано на портале: 15-12-2002Morris Altman Journal of Socio-Economics. 2001. Vol. 30. No. 5. P. 379-391.
In this paper cultural factors are incorporated into a behavioral model of economic growth and development and the circumstances under which culture can make a difference are articulated. In this context, the question of the long run survival, in a competitive environment, of firms and societies imbued with cultural precepts that are not conducive to growth and development, is addressed. This discussion attempts to redress a gap in economic theory, which does not well incorporate cultural factors as independent and causally substantive variables.
Curriculum, Credentials, and the Middle Class: A Case Study of a Nineteenth Century High School [статья]
Опубликовано на портале: 30-01-2003David F. Labaree Sociology of Education. 1986. Vol. 59. No. 1. P. 42-57.
This historical case study of a prominent nineteenth-century high school analyzes one example of the development of the hegemonic curriculum. This developmental process hinged on the complex relationship between the high school and its middle-class constituency, a relationship that was mediated by the market in educational credentials. Shaped by bourgeois ideological principles (merit, self-discipline, and utility), the curriculum of the mid-1800s provided the school's middle-class constituents with a valuable form of symbolic wealth: i.e. educational credentials. However, by the 1880s the market in educational credentials changed. Alternative suppliers appeared on the scene, and the middle class began looking beyond a high school diploma to the acquisition of professional credentials. This market pressure forced the high school to revamp its course of study. What emerged was a version of the modern hegemonic curriculum, in which knowledge is stratified, academic, and appropriated through individual competition.
Опубликовано на портале: 02-12-2003Francois Bourguignon Econometrica. 1979. Vol. 47. No. 4. P. 901-920.
A decomposable inequality measure is defined as a measure such that the total inequality of a population can be broken down into a weighted average of the inequality existing within subgroups of the population and the inequality existing between them. Thus, decomposable measures differ only by the weights given to the inequality within the subgroups of the population. It is proven that the only zero-homogeneous "income-weighted" decomposable measure is Theil's coefficient (T) and that the only zero-homogeneous "population-weighted" decomposable measure is the logarithm of the arithmetic mean over the geometric mean (L). More generally, it is proved that T and L are the only decomposable inequality measures such that the weight of the "within-components" in the total inequality of a partitioned population sum to a constant. More general decomposable measures are also analyzed.
Опубликовано на портале: 12-12-2002Branko Milanovic, Shlomo Yizhaki Review of Income and Wealth. 2002. Vol. 48. No. 2.
Using the national income/expenditure distribution data from 111 countries, we decompose total inequality between the individuals in the world, by continents and regions. We use Yitzhakis Gini decomposition which allows for an exact breakdown of the Gini. We find t hat Asia is the most heterogeneous continents; between-country inequality is much more important than inequality in incomes within countries. At the other extreme is Latin America where differences between the countries are small, but inequalities within the countries are large. Western Europe/North America is fairly homogeneous both in terms of countries mean incomes and income differences between individuals. If we divided the world population into three groups: The rich (those with incomes greater than Italys mean income), the poor (those with income less than Western countries poverty lie), and the middle class, we find that there are only 11 percent of people who are world middle class; 78 percent are poor, and 11 percent are rich.
Опубликовано на портале: 18-12-2009Nicole Woolsey Biggart
Dependent Forms of Self-Employment in the UK: Identifying Workers on the Border between Employment and Self-Employment [статья]
Опубликовано на портале: 03-12-2008Ulrike Mühlberger, René Böheim IZA Discussion Papers. 2006. No. 1963 .
We analyse the characteristics of workers who provide work on the basis of a civil or commercial contract, but who are dependent on or integrated into the firm for which they work. We argue that these dependent self-employed lose their rights under labour law, receive less favourable benefits from social security protection and are often beyond trade union representation and collective bargaining. Using data from the British Labour Force Survey we test two hypotheses: (1) Dependent self-employed workers are significantly different from both employees and (independent) self-employed individuals, thus forming a distinct group. (2) Dependent self-employed workers have lower labour market skills, less labour market attachment and, thus, less autonomy than self-employed workers. The data support our hypothesis that dependent self-employed workers are a distinct labour market group which differs from both employees and independent self-employed individuals. Men, older workers, those with low education and a low job tenure have greater odds of working in dependent self-employment than their counterparts. Our results suggest that dependent forms of self-employment are used by firms to increase labour flexibility.