Всего публикаций в данном разделе: 63924
Seminar in Corporate Finance [учебная программа]
Опубликовано на портале: 12-12-2002John S. Howe
FIN 403: Seminar in Corporate Finance + denotes a primary reading * denotes a reading that appears in The Modern Theory of Corporate Finance 1. Theory of investment and financing under certainty (Week of Aug. 30) +Fama, E.F. and M.H.
Corporate Governance in Russia [интернет ресурс]
This web site is the joint project of the Center for International Private Enterprise (CIPE) and the Investor Protection Association (IPA), implemented within the framework of the OECD/World Bank - Russian Corporate Governance Roundtable. Here
Опубликовано на портале: 12-12-2002Dirk Czarnitzki, Kornelius Kraft
This paper discusses the different incentives of managers versus firm owners to invest in innovative activities. Economic theory proposes different incentives in owner-led firms and manager-controlled firms. In the first place, the impact of risk on the incentive to invest in R&D are compared for the capital-led and the managerial firm. On the one hand, the risk of dismissal for the manager implies less innovative investment than in the traditional capital-led firm. On the other hand, innovative activity will most likely increase the growth rate and therefore the size of a firm. This is a positive stimulus for R&D in the managerial firm.
Опубликовано на портале: 12-12-2002Pierre Romelaer
The present paper lists the management constraints that impact on innovation in business firms. Some of these constraints may thwart innovation, or make it slower, others may accelate the process or increase the number of innovations in the firm, others still may influence the nature of the innovations which the firm will endeavour. Only management constraints are considered here, i.e those constraints pertaining to the interface between intention and really implemented action, as well as those influencing the intention in a partially predictible manner. The related interfaces may be formalized (e.g. management tools and methods like the business plan), they may be partially or totally informal (e.g. the power system, or the innovation process itself). It may be that some of, or all the actors in the innovation do not perceive, or perceive with a bias, the very existence of the constraint, i.e. of the link it has with innovation. The first part of the paper is devoted to the constraints that impinge upon senior managers, lower level managers and others involved in the innovation process (paragraphs 1 and 2). The constraints are then viewed from an organizational standpoint (what they are in different types of organizational structures, what is the contribution of different organizational vital systems), and through models of the innovation process produced by empirically valid organization research (paragraphs 3 and 4). The paper ends with some considerations on the origin of innovative ideas and on the usefulness of constraints for innovation.
Опубликовано на портале: 12-12-2002Gregory P. Prastacos, Klas Derquist, Luk Van Wassenhove, Yiannis E. Spanos European Management Journal. 2002. Vol. 20. No. 1. P. 55-71.
This paper present an integrated framework in an attempt to offer guidance and advice for the thought process preceding any successful implementation of change initiatives. We argue that to address the continuously increasing challenges and to successfully manage change, organisations needs to be innovative and flexible. Based on the Scott-Morton model, where the organisation can be viewed as the dynamic interaction of five forces/dimensions, we have put forward and synthesised a number of management objectives and corresponding actions/levers that need to be taken in order to successfully manage change.
Опубликовано на портале: 12-12-2002
The following books and articles cover methods of delayering organizational structure, which has become fairly common as organizations strive to become leaner to improve productivity as well as workplace communication. A horizontal, rather than pyramid, structure not only allows greater worker empowerment, but also makes communicating vision throughout the organization an easier task. A flattened organization requires fewer managers, is less bureaucratic, and can produce more cross-functional employees. Achieving such an organizational structure is not always a simple task, as several of the cited articles cover in their case studies.
The diffusion of managerial innovations: a comparison of Australian public and private sector take-up rates of new organizational practices [статья]
Опубликовано на портале: 12-12-2002Ian Palmera, Richard Dunfordb International Public Management Journal. 2001. No. 4. P. 49-64.
Innovative approaches to organization and management are advocated for both public and private sector organizations, yet few attempts have been made to compare the relative take-up rates of these innovations in the two sectors. In this paper we report the results of an Australian study of the use of nine new organizational practices and observe that managers in government-owned commercial enterprises and private sector organizations have a similar view of the nature of their external environment, a similar level of use of these new practices, and a similar level of formalization and centralization.
Опубликовано на портале: 12-12-2002Paul Schreyer Review of Income and Wealth. 2002. Vol. 48. No. 1. P. 15-32.
Methodologies to derive price indices for information and communication technology (ICT) products vary between national statistical offices. This may lead to significant differences in measured price changes for these products and there has been concern about the international comparability of volume growth rates of GDP between several OECD countries. This article discusses the possible consequences for measures of economic growth of replacing one set of price indices by another one in the framework of national accounts. It is argued that the issue of ICT deflators cannot be dealt with in isolation and several other factors have to be taken into account, in particular whether ICT products are final or intermediate products, whether they are imported or domestically produced and whether national accounts are set up with fixed or chain weighted index numbers. Overall, results point to modest effects at the aggregate GDP level but may be more significant when it comes to component measures such as volume growth of investment, or of output in particular industry.
Опубликовано на портале: 12-12-2002Esben Dalgaard, Christopher Eff, Annette Thomsen Review of Income and Wealth. 2001. Vol. 47. No. 2.
The paper raises three questions. Firstly, it is warranted that a significant part of primary (property) income is not shown in the national accounts as being distributed to the owners of the assets to which it accrues but ends up as capital gains in the revaluation account? Secondly, why has the SNA chosen not to record reinvested earnings of corporations as flows of property income with the exception of foreign direct investment, and thirdly why the asymmetrical recording of stock investments constituting more than 10 percent of equity capital depending on whether domestic or foreign transactions are concerned? Reinvested earnings on domestic equity investment above 10 percent of a corporation are not recorded as property income in the system. The paper looks at these three questions from the perspective of the analytical uses of national accounts. The consequences for the analysis of income distribution both between nations and within nations are examined.
How to compare apples and oragnes: Poverty measurement based on different definitions of consumption [статья]
Опубликовано на портале: 12-12-2002Jean Olson Lanjouw, Peter Lanjouw Review of Income and Wealth. 2001. Vol. 47. No. 2.
Poverty rates calculated on the basis of household consumption expenditures are routinely compared across countries and time. The surveys which underlie these comparisons typically differ in the types of food and non-food expenditures included, often in ways which are easily overlooked by analysts. With several examples we demonstrate that these commonly occurring variations in expenditures definitions can give rise to marked differences in poverty rates where there are no real differences in well-being. We show that one approach to calculating poverty lines, used with headcount measurement of poverty, can allow comparisons based on data with different definitions of consumption. In addition to allowing comparative poverty analysis using existing survey data, the results suggest that poverty monitoring could be done effectively at lower cost by alternating detailed expenditures surveys with far more abbreviated surveys.
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.
Statistical disclosure control (SDC) in practice: some examples in official statistics of Statistics Netherlands [статья]
Опубликовано на портале: 12-12-2002Eric Schulte Nordholt Statistical Journal of the United Nations Economic Commission for Europe. 2001. Vol. Volume 18. Number 4. P. 321 - 328 .
The paper describes how two related software packages can be applied for producing safe data. The package - ARGUS is used for tabular data and its twin w-ARGUS for microdata. The main techniques used to protect sensitive information are global recoding and local suppression. Bona fide researchers who need more information have the possibility to visit Statistics Netherlands and work on-site in a secure area within Statistics Netherlands. Some examples are given of official statistics that have benefited from statistical disclosure control techniques.
Опубликовано на портале: 12-12-2002Harry X. Wu Review of Income and Wealth. 2001. Vol. 47. No. 2.
This study critically evaluates alternative estimates of China's GDP level and growth, as well as its PPP GDP conversions, and, based on this evaluation, it draws important implications for the understanding of China's economic performance in both historical and international perspectives. It finds that although almost all empirical results have supported the downward-bias hypothesis for China's GDP level and the upward-bias hypothesis for China's GDP growth, they vary greatly, and that PPP estimates for China are also diversified. These estimates, if accepted, may substantially alter the existing views on the Chinese economy, particularly, its size, TFP level and catch-up performance. The discusion docuses on the theories, methodologies and data used in these studies, and particularly, the possible biases in their results thereby. It argues, however, that despite differences in estimates, they could still provide sensible boundaries for researchers to gauge the "real" values and hence assess China's "real" living standard and growth performance.
Industrial and consumption waste. How to meet the indicator needs. Experiences from Finland [статья]
Опубликовано на портале: 12-12-2002Simo Vahvelainen Statistical Journal of the United Nations Economic Commission for Europe. 1970. Vol. Volume 19. Number 1. P. 65 - 78 .
Statistics Finland has compiled waste statistics since the mid-1980s. The data material included administrative registers, surveys and research results. Waste was initially classified according to a 'Finnish' classification based on composition of waste until the mid-1990s, and later according to the European Waste Catalogue (EWC). A Guide to Waste Classification was drafted to facilitate classification in 1999. The Standard Industrial Classification (NACE) has been employed as a background classification for waste statistics. Waste statistics have been and are being used especially for preparing the national waste strategy and the waste management guidelines, in the planning stage of waste treatment plants, for research, and as supplementary material for compilation of material flow accounting.
Опубликовано на портале: 12-12-2002John Greenlees Statistical Journal of the United Nations Economic Commission for Europe. 2000. Vol. 17. No. 1. P. 59-74.
This paper describes the major methods used by statistical agencies to adjust for differences in the quality of a good or service when one item replaces another in a sample used to construct a Consumer Price Index. The methods are categorized as either direct, including the production-cost and hedonic approaches, or indirect, such as linking or class-mean imputation. The paper also presents simplified example calculations showing how the methods are applied in practice.
Statistics for social progress [статья]
Опубликовано на портале: 12-12-2002Lene Mikkelsen, Clare Menozzi Statistical Journal of the United Nations Economic Commission for Europe. 2000. Vol. 17. No. 3-4. P. 201-260.
The authors propose to use the 1995 Framework and the Minimum National Social Data Set indicator list as a stepping stone for regional and national initiatives for monitoring social development. In particular, it is proposed that both outcomes and inputs are included in the framework to guarantee a more complete understanding of the effectiveness of policy programmes for social development. It is argued that to make the statistical framework operational, technical issues such as improving data collection, intensifying the conceptual development and integration of social statistical systems, investing in training and research and improving statistical dissemination are all requisites to moving forward. A series of follow-up measures to Geneva 2000 are also proposed.
Style of Management and Leadership [интернет ресурс]
Overview of Leadership in Organizations [интернет ресурс]
Опубликовано на портале: 11-12-2002Nicolai J. Foss, Volker Mahnke
We argue that strategizing fundamentally concerns disequilibrium phenomena, such as discovery, innovation, resource-combination, imagination - in short, entrepreneurship. Therefore, the understanding of strategizing is likely to be led astray by drawing too heavily on equilibrium theories. Arguably, the three dominant economic approaches to strategy - the Porter industry analysis approach, the new industrial organization, and the ressourcebased approach - are characterized precisely by their strong reliance on equilibrium methodology. We argue that the market process approach in its Austrian version offers much inspiration for bringing process issues to bear on strategy issues.
On the Foundations of the Strategic Theory of the Firm: Should We Rely on Governance, Capabilities, or Both? [статья]
Опубликовано на портале: 11-12-2002Nicolai J. Foss Management Report. 1997. No. 16.
This paper is taken up with discussing the extent to which existing economic theories of the firm are helpful for constructing what Rumelt called a strategic theory of the firm. Such a theory explains the existence, boundaries, organization and competitive advantage of the firm. The modern economics of organization (e.g., agency theory, transaction cost economics, incomplete contracts theory) is characterized by the heuristic of reducing literally all aspects of economic organization to the alignment of incentives. It thus arguably misrepresents many management and strategy issues. On the other hand, the dominant contender, the capabilities perspective, is lacking in several respects, for example, with respect to its lack of crisp microfoundations, and its inability to predict, explain ownership and explain the existence of the firm. The best way forward in the construction of a strategic theory of the firm is probably to draw eclectically on both approaches.