This chapter describes rents in Denmark, a developed welfare state in which the private sector is sharply delimitated and kept efficient by secure property rights and markets including free trade. In the public sector, rents in the form of excess costs that provide benefits are difficult to measure......-governmental organizations have been coopted to serve large welfare expenditure programs that benefit the welfare coalition....
This paper aims to investigate the influential factors of Chinese young consumers’ rent-versus-buy housing decisions before marriage, and thus to explain why most Chinese consumers prefer housing ownership to renting or even regard an own-occupied housing as a prerequisite of marriage. The research was based on rich literatures concerning rent-versus-buy housing decisions and consumer decision making theory. A qualitative approach was adopted to conduct the research to gain in-depth insight o...
Full Text Available This study examines the influence of state participation in the ownership structure of companies on their financial efficiency using a sample of 114 largest companies in Russia. As an indirect indicator of efficiency, we used a variety of financial indicators: revenue per employee (gross margin, return on equity, profit margin and debt burden. The effects of direct and indirect state ownership are considered separately. Using econometric analysis, we conclude that the dominance of the block of shares owned by the state has a negative effect on the performance characteristics, and its increase is associated with an increase in the debt burden of the companies. According to our criteria, state-owned enterprises (SOEs perform worse on average than private companies. The mechanism of how changes in the “real sector” affect profitability is examined particularly closely. The study shows that a change in the profitability of private companies is characterized by a significant dependence on the movement of labor productivity characteristics. At the same time, for SOEs, a similar correlation was not revealed. These companies demonstrated no visible relationship between their profitability and performance characteristics. The study shows that increases in the size of direct government ownership lead to lower labor productivity and profitability; the impact of indirect ownership is, seemingly, more complicated.
Li, Ming Hua; Cui, Lin; Lu, Jiangyong
direct investment. We argue that firms with marketized state ownership may derive institutional competitive advantages from their dual responsiveness to shifting global market conditions and home government expectations which has a positive impact on their foreign investment decisions. However...
Kevin C.K. Lam
Full Text Available In this paper, we investigate if dividend policy is influenced by ownership type. Within the dividend literature, dividends have a signaling role regarding agency costs, such that dividends may diminish insider conflicts (reduce free cash flow or may be used to extract cash from firms (tunneling effect – which could be predominant in emerging markets. We expect firms with foreign ownership and those that are listed in overseas markets to have different dividend policies and practices than those that are not, and firms with more state ownership and less individual ownership to be more likely to pay cash dividends and less likely to pay stock dividends. Using firms from an emerging economy (China, we examine whether these effects exist in corporate dividend policy and practice. We find that both foreign ownership and cross-listing have significant negative effects on cash dividends, consistent with the signaling effect and the notion of reduced tunneling activities for firms with the ability to raise capital from outside of China. Consistent with the tunneling effect, we find that firms with higher state ownership tend to pay higher cash dividends and lower stock dividends, while the opposite is true for public (individual ownership. Further analysis shows that foreign ownership mediates the effect of state ownership on dividend policy. Our results have significant implications for researchers, investors, policy makers and regulators in emerging markets.
van der Elst, C.
This paper analyses ownership concentration in six European countries and empirically studies the rent-seeking theory. This theory states that ownership concentration not only depends on the level of investor protection but also on company-specific and industry-specific parameters. This study
Full Text Available This paper analyses the choice of the bargaining agenda in a public/private unionised monopoly, and investigates whether the traditional higher efficiency of the state ownership of a monopoly holds when the labour market is unionised. First, we find that both a private and public monopoly always adopts a Right-to-Manage agenda. Second, a public firm pays a higher wage. Third, we show that privatisation could ensure a higher social welfare. This rather unexpected result may emerge provided that the Government has a high evaluation of the workers’ welfare, and the union is strong and/or wage aggressive. Therefore, our results suggest that privatisation 1 should be socially preferred depending only on the strength and wage aggressiveness of unions, and 2 rather paradoxically, is preferred when the Government is more careful about workers’ welfare. Our results may have policy implications especially in the post-communist countries, where the debate on privatisation is ubiquitously high and, differently between various countries, Government and unions may oscillate between left- or right-wing, and strength or weakness, respectively.
Full Text Available While the relationship between state ownership and firm performance has been widely researched, the empirical evidence has provided mixed results. This study applies panel data regression techniques to 10,639 firm-year observations of non-financial Chinese listed firms during 2003–2010 to examine the relationship between state ownership and firm performance. The results show that state ownership has a U-shaped relationship with firm performance. The Split Share Structure Reform in 2005–2006 played a positive role in enhancing the relationship between state ownership and firm profitability ratios. Although state ownership decreased significantly after 2006, it remains high in strategically important industry sectors such as the oil, natural gas and mining sector and the publishing, broadcasting and media sector. The findings reveal that a higher level of state ownership is superior to a dispersed ownership structure due to the benefits of government support and political connections. The Split Share Structure Reform made previously non-tradable shares legally tradable, improving corporate governance and reducing the negative effect of non-tradable state shares.
High-rise construction in big cities faces the problem of land shortage in downtown areas. Audit of economic complexes showed a large volume of wastelands. The conversion of wastelands into state and municipal ownership helps in part to solve the problem of the lack of space for high-rise construction in the urban area in the format of infill construction. The article investigates the problem of the conversion of wastelands into state and municipal ownership. The research revealed no clear algorithm for converting wastelands into state and municipal ownership. To form a unified system for identifying such plots, a universal algorithm was developed to identify and convert ownerless immovable property into state or municipal ownership.
Jongmoo Jay Choi
Full Text Available This study examines the effect of corporate ownership on information asymmetry as measured by bid-ask spread in the emerging markets of China. Government ownership has significant and positive impacts on bid-ask spread during the period 1995–2000, but disappears afterward during 2001–2003. The finding that state ownership raised bid-ask spread in the early period is consistent with recent studies on emerging markets including China, which indicate that firms with higher state ownership tend to have a greater deviation between cash flow rights and control rights (eg, Wei et al., 2005. This implies that lower state ownership is associated with lower information asymmetry in the market, an economic consequence of significant economic reform and privatization regarding the market microstructure. However, with more active control transfers and emergence of private controlling shareholders, regulatory changes in ownership structure and corporate governance mechanisms, and thus an improved legal and institutional environment, the link between the government ownership and information asymmetry turns to be insignificant in the later period. These results have important implications for transparency and information disclosure policies as well as privatization in emerging markets.
Siegel, Michael; Ross, Craig S; King, Charles
Since many states are considering gun control laws, researchers need reliable data on rates of gun ownership at the state level. Survey measures of gun ownership in all 50 states, however, are only available for 3 years, and no state-level data have been collected since 2004. Consequently, the National Research Council has declared the development of a valid proxy that can be constructed from accessible, annual, state-level data to be a priority. While such a proxy does exist (the proportion of suicides in a state committed using a gun (FS/S), its correlation with state estimates of gun ownership in recent years is only 0.80. Using state-level data for the years 2001, 2002 and 2004, we developed an improved proxy for state-level gun ownership that uses FS/S (firearm suicides divided by all suicides) and also the per capita number of hunting licenses. We validated this measure using data from surveys of gun ownership conducted in 48 states during 1996 and 1999, and in 21 states during 1995-1998. Adding per capita hunting licenses to the proxy increased its correlation with survey-measured gun ownership from 0.80 to 0.95. The correlations of the new proxy with gun ownership in the two validation studies were 0.95 and 0.97. We conclude that the combination of FS/S and per capita hunting licenses improves substantially upon FS/S alone. This new proxy is easily computed from data that are available annually by state and may be useful for investigating the effect of gun prevalence on firearm-related morbidity and mortality. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions.
Ross, Craig S.
Objectives. We examined the relationship between levels of household firearm ownership, as measured directly and by a proxy—the percentage of suicides committed with a firearm—and age-adjusted firearm homicide rates at the state level. Methods. We conducted a negative binomial regression analysis of panel data from the Centers for Disease Control and Prevention’s Web-Based Injury Statistics Query and Reporting Systems database on gun ownership and firearm homicide rates across all 50 states during 1981 to 2010. We determined fixed effects for year, accounted for clustering within states with generalized estimating equations, and controlled for potential state-level confounders. Results. Gun ownership was a significant predictor of firearm homicide rates (incidence rate ratio = 1.009; 95% confidence interval = 1.004, 1.014). This model indicated that for each percentage point increase in gun ownership, the firearm homicide rate increased by 0.9%. Conclusions. We observed a robust correlation between higher levels of gun ownership and higher firearm homicide rates. Although we could not determine causation, we found that states with higher rates of gun ownership had disproportionately large numbers of deaths from firearm-related homicides. PMID:24028252
José Miguel Piquer-Marí
Full Text Available From a Public Law perspective, and with particular regards to the subject of public property, this paper examines the praeda bellica as an asset belonging to the Roman people during the times of the Republic. Through an analysis of the ownership of the praeda bellica, the research intends to provide an in depth understanding of legal and proprietary relationships shaping the Public branch of the Law.
... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Rent control. 850.153 Section 850... PROGRAM) HOUSING DEVELOPMENT GRANTS Project Management § 850.153 Rent control. A project constructed or substantially rehabilitated with a housing development grant is not subject to State or local rent control...
Department of Housing and Urban Development — In accordance with 24 CFR Part 92.252, HUD provides maximum HOME rent limits. The maximum HOME rents are the lesser of: The fair market rent for existing housing for...
Ralph J. Allg; William G. Hohenstein; Brian C. Murray; Robert G. Haight
Area change projections for timberland in the United Steats are provided by region, State, ownership, and forest type.Total timberland area is projected to drop by 21 million acres or 4 percent by the year 2040.
Van Witteloostuijn, A.; Brakman, S.; Van Marrewijk, C.
As part of the larger energy market deregulation program, the Dutch Office of Energy Regulation (DTe) has developed the habit to force the Dutch gas transport enterprise (Gas Transport Services GTS) to lower its prices. In this report, we simulate the welfare effects of a five per cent transport price reduction. DTe's key argument is that lower gas transport prices will benefit the end-user. Indeed, that might well be the case. However, at least three observations complicate matters substantially: Observation 1: government ownership. GTS is government -owned, and the dominant shipper (Gasunie Trade and Supply) is partly so (50 %). Hence, lost revenues from the gas transport business will all emerge at the debit side of the government's budget, and part of the shippers' rent returns in the government's pockets. Observation 2: imperfect competition. Firms enter into the competitive game to make profits. Shippers are not different. So, apart from in the extreme case of perfect competition (or, more generally, perfect contestability), part of the rents will end up in the pockets of the shippers, rather than the endconsumers. Observation 3: rent export. The Netherlands are not an isolated island in the European gas ocean. Not only is the majority of gas transported in the Netherlands exported to foreign end-users, but apart from that have foreign owners a large stake in Dutch shippers. As a result, given the fact that the Dutch industry is not autarktic, part of the rents will always be distributed, or will always 'leak' away, to foreign consumers and shippers (or their shareholders). These three observations together have three important implications. First, state ownership implies that much rent allocation is simply a matter of circulating money from one government sub-budget to the other (Observation 1). Second, given that the industry is imperfectly competitive, part of the rents will not be passed on to the endconsumers (Observation 2). Third, it is unavoidable
Siegel, Michael; Negussie, Yamrot; Vanture, Sarah; Pleskunas, Jane; Ross, Craig S; King, Charles
We examined the relationship between gun ownership and stranger versus nonstranger homicide rates. Using data from the Supplemental Homicide Reports of the Federal Bureau of Investigation's Uniform Crime Reports for all 50 states for 1981 to 2010, we modeled stranger and nonstranger homicide rates as a function of state-level gun ownership, measured by a proxy, controlling for potential confounders. We used a negative binomial regression model with fixed effects for year, accounting for clustering of observations among states by using generalized estimating equations. We found no robust, statistically significant correlation between gun ownership and stranger firearm homicide rates. However, we found a positive and significant association between gun ownership and nonstranger firearm homicide rates. The incidence rate ratio for nonstranger firearm homicide rate associated with gun ownership was 1.014 (95% confidence interval=1.009, 1.019). Our findings challenge the argument that gun ownership deters violent crime, in particular, homicides.
Karas, A.O.|info:eu-repo/dai/nl/411259393; Vernikov, Andrei
For every Russian bank we collect records of its registration, license withdrawal, liquidation, location changes, mergers and acquisitions, entrance to and exit from the Deposit Insurance System as well as state and foreign ownership. We describe our sources and the resulting database.
El-Katiri, Laura; Fattouh, Bassam; Segal, Paul
Oil wealth has transformed Kuwait within decades from a modest, trade-based desert emirate into a modern city-state. It has also created a relatively egalitarian economy based on an extensive distributive system that provides Kuwaiti citizens with essential services including free healthcare, education and social security. Therefore, the most important fact about Kuwait’s oil wealth is that it has been successfully used to benefit its citizens. This feat has been achieved through a broad dist...
Full Text Available The aim of this research is to examine the role of state ownership in corporate governance and firm performance. We employed ordinary least squares and two-stage least squares regressions to analyze the effects of state ownership on firm performance. We go beyond existing research on state ownership by carefully disentangle investment objectives of state-controlled financial institutions. Such state ownership can be classified as profit-oriented and non-profit-oriented, in which the former consider return on investment to be the primary investment objective, whereas the latter prioritizes socio-economic development. We found that profit-oriented state ownership is an effective corporate governance mechanism and provides political patronage to the firm in the form of firm’s specific resources and credit financing. Although nonprofit-oriented state ownership firms also receive similar political patronage, they tend to be associated with inefficiencies such as the free-rider problems, bureaucracies and political intervention in firm management. We conclude that state ownership consists of heterogeneous entities with respect to corporate governance and firm performance.
Ю. С. Гаєвська
Full Text Available Problem’s setting. The economic rights and freedoms, namely the ownership have an important place in the economic system. Improvement of legal regulation concerning the state policy in the area of the ownership requires detailed regulation at the constitutional level, because of the high level of corruption and crime rate in economic relations. These negative consequences are primarily provoked by low level of democratic procedures’ efficiency and the mechanism of realizing economic rights. Analysis of recent research and publications. Some aspects of this issue have been the matter of studies of a number of Ukrainian and foreign scholars. The notion of the state policy was studied in the works of: V. Tertychka, O. Kucherenko, P. Fris, etc. Issues concerning the state policy in the economic sphere were the interest of: V. Ustimenko, V. Mamutov, V. Selivanov, O. Skupinskyi, D. Zadykhailo, Yu. Bysiah, I. Kresin and others. The objective of this paper is to determine the general principles of the state policy in the area of guaranteeing the ownership, to establish their content, place and significance for the economic system and to formulate the definition of the concept of the state policy in the area of the ownership. The main part: Development and realization of the constructive state policy in the economic sphere will lead to the stabilization of economic relations; reduce violations of the economic rights granted by the Constitution; increase the trust of public to the state apparatus; increasing the public sense of security by the state. Constitutional acts become the major legal factor in social, state and legal development. The Constitution is a source of the state economic policy; it has the policy character and performs the predictive function. The scholars repeatedly note that there is the necessity to amend the constitutional provisions of the Main Law relating to the economic system, including the allocation of a separate section
Full Text Available It has been widely recognized that ownership structure has an impact on firm performance. This paper examines whether rural banks owned by government have poorer performance than those owned by private parties with the emphasis on corporate governance uniqueness of state-owned rural banks. 42 rural banks in Indonesia has been selected as the sample. MANOVA test is used to investigate the difference performance between the two types of the rural banks. The results show that state-owned rural banks perform poorer than their privately-owned counterparts. It is indicated by lower ROA ratio and higher OEOI and NPL ratios. The important implication of this finding suggets that government ownership impede boards of rural banks to implement good corporate governance practices in order to improve their banks performance.
Full Text Available Agency conflict between minority and controlling shareholders in state owned firms has to be considered in order to examine the variability on effective tax rates. In China, state ownership helps the government to achieve its social objectives by optimizing corporate income tax. We provide a significant result to prove that state owned firms paid higher corporate income taxes than private firms. Our results also indicate that corporate effective tax rates are positively associated with firm sized and inventory intensity. However, we have no strong evidence to support the association with leverage, return on assets and capital intensity.
With varying success, the United States and Europe have followed a more or less parallel path of policies to support wind development over the past twenty years. Feed-in laws and tax incentives first popularized in California in the early 1980s and greatly expanded upon in Europe during the 1990s are gradually giving way to market-based support mechanisms such as renewable portfolio standards, which are being implemented in one form or another in ten US states and at least three European nations. At the same time, electricity markets are being liberalized in both the US and Europe, and many electricity consumers are being given the choice to support the development of renewable energy through higher tariffs, both in traditionally regulated and newly competitive markets. One notable area in which wind development in Europe and United States has not evolved in common, however, is with respect to the level of community ownership of wind turbines or clusters. While community ownership of wind projects is unheard of in the United States, in Europe, local wind cooperatives or other participatory business schemes have been responsible for a large share of total wind development. In Denmark, for example, approximately 80% of all wind turbines are either individually or cooperatively owned, and a similar pattern holds in Germany, the world leader in installed wind capacity. Sweden also has a strong wind cooperative base, and the UK has recently made forays into community wind ownership. Why is it that wind development has evolved this way in Europe, but not in the United States? What incremental effect have community-owned wind schemes had on European wind development? Have community-owned wind schemes driven development in Europe, or are they merely a vehicle through which the fundamental driving institutions have been channeled? Is there value to having community wind ownership in the US? Is there reason to believe that such schemes would succeed in the US? If so, which
Shepherd, A. Ross; McDonald, John F.
Questions the recently developed arguments (per George Kondor and R. Arnott) that rent controls can increase the quantity of housing supplied. Maintains that tenant favorable regulatory programs constrict profit, mobility, development, and construction. Argues that any subsequent increases in housing are due to price discrimination. (MJP)
Harrington, Charlene; Hauser, Clarilee; Olney, Brian; Rosenau, Pauline Vaillancourt
This study examined the ownership, financing, and management strategies of the 10 largest for-profit nursing home chains in the United States, including the four largest chains purchased by private equity corporations. Descriptive data were collected from Internet searches, company reports, and other sources for the decade 1998-2008. Since 1998, the largest chains have made many changes in their ownership and structure, and some have converted from publicly traded companies to private ownership. This study shows the increasing complexity of corporate nursing home ownership and the lack of public information about ownership and financial status. The chains have used strategies to maximize shareholder and investor value that include increasing Medicare revenues, occupancy rates, and company diversification, establishing multiple layers of corporate ownership, developing real estate investment trusts, and creating limited liability companies. These strategies enhance shareholder and investor profits, reduce corporate taxes, and reduce liability risk. There is a need for greater transparency in ownership and financial reporting and for more government oversight of the largest for-profit chains, including those owned by private equity companies.
Negussie, Yamrot; Vanture, Sarah; Pleskunas, Jane; Ross, Craig S.; King, Charles
Objectives. We examined the relationship between gun ownership and stranger versus nonstranger homicide rates. Methods. Using data from the Supplemental Homicide Reports of the Federal Bureau of Investigation’s Uniform Crime Reports for all 50 states for 1981 to 2010, we modeled stranger and nonstranger homicide rates as a function of state-level gun ownership, measured by a proxy, controlling for potential confounders. We used a negative binomial regression model with fixed effects for year, accounting for clustering of observations among states by using generalized estimating equations. Results. We found no robust, statistically significant correlation between gun ownership and stranger firearm homicide rates. However, we found a positive and significant association between gun ownership and nonstranger firearm homicide rates. The incidence rate ratio for nonstranger firearm homicide rate associated with gun ownership was 1.014 (95% confidence interval = 1.009, 1.019). Conclusions. Our findings challenge the argument that gun ownership deters violent crime, in particular, homicides. PMID:25121817
Department of Housing and Urban Development — Rent estimates at the 50th percentile (or median) are calculated for all Fair Market Rent areas. Fair Market Rents (FMRs) are primarily used to determine payment...
Lisichko Andriyana M.
Full Text Available The article is aimed at researching the concept of forest rent as an object of economic analysis. The essence of the concept of «forest rent» has been researched. It has been defined that the forest rent is the object of management of the forest complex of Ukraine as a whole and forest enterprises in particular. Rent for special use of forest resources is the object of interest om the part of both the State and the corporate sector, because its value depends on the cost of timber for industry and households. Works of scholars on classification of rents were studied. It has been determined that the rent for specialized use of forest resources is a special kind of natural rent. The structure of constituents in the system of rent relations in the forest sector has been defined in accordance with provisions of the tax code of Ukraine.
Scheiring, Gábor; Stefler, Dénes; Irdam, Darja; Fazekas, Mihaly; Azarova, Aytalina; Kolesnikova, Irina; Köllő, János; Popov, Vladimir; Szelenyi, Ivan; Marmot, Michael; Murphy, Michael; McKee, Martin; Bobak, Martin; King, Lawrence
Research on the health outcomes of globalisation and economic transition has yielded conflicting results, partly due to methodological and data limitations. Specifically, the outcomes of changes in foreign investment and state ownership need to be examined using multilevel data, linking macro-effects and micro-effects. We exploited the natural experiment offered by the Hungarian economic transition by means of a multilevel study designed to address these gaps in the scientific literature. For this indirect demographic, retrospective cohort study, we collected multilevel data related to Hungary between 1995 and 2004 from the PrivMort database and other sources at the town, company, and individual level to assess the relation between the dominant company ownership of a town and mortality. We grouped towns into three ownership categories: dominant state, domestic private, and foreign ownership. We did population surveys in these towns to collect data on vital status and other characteristics of survey respondents' relatives. We assessed the relation between dominant ownership and mortality at the individual level. We used discrete-time survival modelling, adjusting for town-level and individual-level confounders, with clustered SEs. Of 83 eligible towns identified, we randomly selected 52 for inclusion in the analysis and analysed ownership data from 262 companies within these towns. Additionally, between June 16, 2014, and Dec 22, 2014, we collected data on 78 622 individuals from the 52 towns, of whom 27 694 were considered eligible. After multivariable adjustment, we found that women living in towns with prolonged state ownership had significantly lower odds of dying than women living in towns dominated by domestic private ownership (odds ratio [OR] 0·74, 95% CI 0·61-0·90) or by foreign investment (OR 0·80, 0·69-0·92). Prolonged state ownership was associated with protection of life chances during the post-socialist transformation for women. The indirect
Morgan, Erin Renee; Gomez, Anthony; Rowhani-Rahbar, Ali
To characterize firearm ownership and storage practices in Washington State and assess their relationship with suicide risk factors. Using Washington State Behavioral Risk Factor Surveillance System data for 2013 to 2016, we conducted survey-weighted multivariable Poisson regression models to obtain prevalence ratios (PRs) and confidence intervals (CIs). Of 34 884 adult respondents, 34.3% (95% CI = 33.7%, 35.0%) reported a firearm in their household, among whom 36.6% (95% CI = 35.4%, 37.7%) stored their firearm locked and unloaded. There were no differences in mental health indicators by firearm ownership or storage practice status. Binge and chronic alcohol use were somewhat more prevalent among adults from firearm-owning households (PR = 1.2; 95% CI = 1.1, 1.3; PR = 1.2; 95% CI = 1.1, 1.4, respectively) and among those living in households not practicing safe storage (PR = 1.4; 95% CI = 1.2, 1.7; PR = 1.9; 1.5, 2.3, respectively). Variability in mental health does not explain the substantial increased suicide risk among individuals in firearm-owning households. Greater prevalence of alcohol misuse among adults in firearm-owning households not practicing safe storage highlights the need for suicide prevention interventions. (Am J Public Health. Published online ahead of print May 17, 2018: e1-e7. doi:10.2105/AJPH.2018.304403).
This entry summarizes the main theoretical contributions and empirical findings in relation to concentrated ownership from a law and economics perspective. The various forms of concentrated ownership are described as well as analyzed from the perspective of the legal protection of investors......, especially minority shareholders. Concentrated ownership is associated with benefits and costs. Concentrated ownership may reduce agency costs by increased monitoring of top management. However, concentrated ownership may also provide dominating owners with private benefits of control....
Full Text Available The article examines the ownership policy in Ukraine. It makes a survey of the following: the current situation at state-run enterprises and their efficiency; the key criteria of the classification of state-run enterprises for the privatization for the period of 2017-2020. The article evaluates the institutional changes coming from a new law on the privatization of state-owned property in Ukraine. It reveals the stages of making the ownership policy as a state strategy. It describes the measures meant to raise efficiency in the area of the public property management. The article assesses the state of play of the stock market in Ukraine as a mechanism to attract money to the real economy. It recommends attracting foreign investment to the public sector of economy following the restructuring process via IPO or sale to a strategic investor (Private equity. It considers the positive aspects in the completion of active privatization and the scope of the main privatization risks.
"Rent or buy?" is a question people ask about everything from housing to textbooks. It is also a question universities must consider when it comes to high-performance computing (HPC). With the advent of Amazon's Elastic Compute Cloud (EC2), Microsoft Windows HPC Server, Rackspace's OpenStack, and other cloud-based services, researchers now have…
... URBAN DEVELOPMENT SECTION 8 TENANT BASED ASSISTANCE: HOUSING CHOICE VOUCHER PROGRAM Rent and Housing Assistance Payment § 982.507 Rent to owner: Reasonable rent. (a) PHA determination. (1) The PHA may not.... To make this determination, the PHA must consider: (1) The location, quality, size, unit type, and...
Emita W. Astami
Full Text Available This study scrutinises the association between ownership identity and board size in a unique institutional setting: state-owned enterprises in Indonesia, a country incorporating a two-tier management structure. It investigates whether the ownership identity explains the size of the board of commissioners by using the year 2006 data set from 155 SOEs in Indonesia consisting of 112 of fully SOEs and 43 of partially- privatised SOEs. This study hypothesizes that SOEs with a higher level of private sector ownership will have a greater incentive to monitor the performance of executive management through board of commissioners than those SOEs that are fully owned by the state government. It finds that compared to those fully SOEs, the partially-privatised SOEs are likely to have more board of commissioners. Even though this result is not statistically significant and, therefore, the proposed hypothesis is not statistically supported, the regression statistical analysis reveals that control variables assist in explaining the size of board of commissioners. The size of the board of directors as a control variable is significantly associated with the size of the board of commissioners. Other control variables including size of the SOE as well as the return on equity measure moderately explain the size of the board of commissioners. The findings give insight to stakeholders such as regulators or the private sector investors interested in making investment decisions in Indonesia considering the ownership structure and the effect on the effectiveness of the board of commissioners.
Luechinger, Simon; Meier, Stephan; Stutzer, Alois
Institutions affect bureaucrats' possibilities to acquire rents; they determine the degree of accountability and responsiveness of officials and of political control of the bureaucracy and, thereby, the size and distribution of rents in the public sphere. Those rents can involve higher wages, monetary and nonmonetary fringe benefits, and bribes. We propose a direct measure to capture the total of these rents: the difference in subjective well-being between bureaucrats and people working in th...
Svarer, Michael; Rosholm, Michael; Munch, Jakob Roland
In this paper we analyse how rent control affects the duration of individual unemployment. In atheoretical search model we distinguish between two effects of rent control. On one hand, rentcontrol reduces housing mobility and hence mobility in the labour market. On the other hand, tomaintain rent...
Omtale af Michael Tomasellos teorier om at sproget som det rent menneskelige er baseret på en empati og tillid, som kommer til udtryk i at selv små børn forstår når en anden peger, hvad aber ikke gør. Udgivelsesdato: 12.april 2006......Omtale af Michael Tomasellos teorier om at sproget som det rent menneskelige er baseret på en empati og tillid, som kommer til udtryk i at selv små børn forstår når en anden peger, hvad aber ikke gør. Udgivelsesdato: 12.april 2006...
Eriksson, Tor; Pytlikova, Mariola
In this paper we examine the relationship between wages, labour productivity and ownership using a linked employer-employee dataset covering a large fraction of the Czech labour market in 2006. We distinguish between different origins of ownership and study wage and productivity differences. The ...... capital, the difference in productivity is about twice as large as the wage differential. Overall, results indicate that the international firms share their rents with their employees....
Eriksson, Tor Viking; Pytlikova, Mariola
In this paper we examine the relationship between wages, labour productivity and ownership using a linked employer-employee dataset covering a large fraction of the Czech labour market in 2006. We distinguish between different origins of ownership and study wage and productivity differences. The ...... capital, the difference in productivity is about twice as large as the wage differential. The results indicate that the international firms share their rents with their employees....
Kamarudin, Fakarudin; Sufian, Fadzlan; Nassir, Annuar Md.
Abstract: This paper studies the impact of global financial crisis focusing on State Owned Commercial Banks (SCBs) and Private Commercial Banks (PCBs) ownership and others bank specific and macroeconomics factors influencing profit efficiency level of the Bangladesh banking sector. The Slack-Based Data Envelopment Analysis (SBM-DEA) method employed to compute the profit efficiency of 31 commercial banks operating in the Bangladesh over the years 2004-2011. Furthermore, the multivariate panel ...
Full Text Available The urgent task for the effective functioning of the national economy is the need to reflect income from the use of forest resources in accounting, which will allow management personnel to prove the effectiveness of environmental protection measures, to assess the amount of expenses taken during restoration and protection of forest resources. The study aims at identifying characteristics of forest rent to determine the amount and its reflection in the accounting for its management. The author understands a forest rent as the income received from the owner of forest resources. The above procedure for determining the amount of forest rent can be used to display it in the accounting. A forest rent is a type of business income, so for its reflection in the accounting it is proposed to open the analytical accounts to account 79 named «Financial results». To determine the amount of forest rent and its reflection in the accounting the author suggests the calculation form of a forest rent. In order to manage the size of a forest rent and expenses incurred to obtain it the author proposes to use the information from the developed report about the forest rent formation. The displaying forest rents in accounting will provide accurate and deep information to the management about the revenue and assets of a company. The rational use of forest resources and accounting reflection of a forest rent will strengthen control over the influence of human activity on natural resources and keep the conception of sustainable development.
Morrissey, Taryn W
The presence of firearms and their unsafe storage in the home can increase risk of firearm-related death and injury, but public opinion suggests that firearm ownership is a protective factor against gun violence. This study examined the effects of a recent nearby active shooter incident on gun ownership and storage practices among families with young children. A series of regression models, with data from the nationally representative Early Childhood Longitudinal Study-Birth Cohort merged with the FBI's Active Shooter Incidents data collected in 2003-2006, were used to examine whether household gun ownership and storage practices differed in the months prior to and following an active shooter incident that occurred anywhere in the United States or within the same state. Approximately one-fifth of young children lived in households with one or more guns; of these children, only two-thirds lived in homes that stored all guns in locked cabinets. Results suggest that the experience of a recent active shooter incident was associated with an increased likelihood of storing all guns locked, with the magnitude dependent on the temporal and geographic proximity of the incident. The severity of the incident, defined as the number of fatalities, predicted an increase in storing guns locked. Findings suggest that public shootings change behaviors related to firearm storage among families with young children. Copyright © 2017 Elsevier Inc. All rights reserved.
Coyne, Joseph S; Ogle, Natalie M; McPherson, Sterling; Murphy, Sean; Smith, Gary J; Davidson, Gregg Agustín
Nonprofit hospitals are expected to serve their communities as charitable organizations in exchange for the tax exemption benefits they receive. With the passage into law of the Affordable Care Act, additional guidelines were generated in 2010 to ensure nonprofit hospitals are compliant. Nonetheless, the debate continues on whether nonprofit hospitals provide adequate charity care to their patient population. In this study, charity care provided by 29 Washington State nonprofit urban hospitals was examined for 2011 using financial data from the Washington State Department of Health. Charity care levels were compared to both income tax savings and gross revenues to generate two financial ratios that were analyzed according to hospital bed size and nonprofit ownership type. For the first ratio, 97% of the hospitals (28 of 29) were providing charity care in greater amounts than the tax savings they accrued. The average ratio value using total charity care and total income tax savings of all the hospitals in the study was 6.10, and the median value was 3.46. The nonparametric Kruskal-Wallis test results by bed size and nonprofit ownership type indicate that ownership type has a significant effect on charity care to gross revenue ratios (p = .020). Our analysis indicates that church-owned hospitals had higher ratios of charity care to gross revenues than did the other two ownership types--government and voluntary--in this sample. Policy implications are offered and further studies are recommended to analyze appropriate levels of charity care in nonprofit hospitals given new requirements for maintaining a hospital's tax-exempt status.
Siegel, Michael; Ross, Craig S; King, Charles
Determining the relationship between gun ownership levels and firearm homicide rates is critical to inform public health policy. Previous research has shown that state-level gun ownership, as measured by a widely used proxy, is positively associated with firearm homicide rates. A newly developed proxy measure that incorporates the hunting license rate in addition to the proportion of firearm suicides correlates more highly with state-level gun ownership. To corroborate previous research, we used this new proxy to estimate the association of state-level gun ownership with total, firearm, and non-firearm homicides. Using state-specific data for the years 1981-2010, we modelled these rates as a function of gun ownership level, controlling for potential confounding factors. We used a negative binomial regression model and accounted for clustering of observations among states. We found that state-level gun ownership as measured by the new proxy, is significantly associated with firearm and total homicides but not with non-firearm homicides. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions.
This thesis examines ownership of the firm by its employees, of varying stakes. It begins by identifying the existence of employee ownership in a Chinese context, presented in the form of a general analytical discussion which is informed by a review of the available evidence on the subject...... of this phenomenon. Employee ownership is found to have played a role in Chinese economic transition as a transitory phase before non-state enterprises were afforded official recognition in a context of publicly-owned enterprise privatisation. Senior managers became the key beneficiaries in firm sales and most...
Victor S. Martyanov
Full Text Available By inertia, which derives from Adam Smith, modern capitalism is described as a free-market competition. This historical model has worked while the market expands and the availability of resources increases. It provided the opportunity to maintain the political order of the welfare state as a form of non-economic egalitarian distribution of resources, which mitigates inequality and class antagonisms generated by market. However, once capitalism has engulfed the whole world, it is more prone to crises: competition intensifies, markets of demand and market outlets do not expand, technological progress creates a growing structural unemployment, economic growth due to the completion of the global village-city transition stagnates, the resources of all the peripheries are almost exhausted. As a result, nationalism and protectionism arise, the polarization between the global center and the periphery increases, and there comes the image of undemocratic and non-egalitarian labor less society on the horizon of the future, with the precariat and the unemployed growing in numbers and demanding large amounts of rent to maintain their livelihoods. Due to this, the market model of capitalism is gradually transforming into a rental one, where the pursuit of profit, the main motivational factor intrinsic to the market, is removed by the pursuit of rent and the redistribution of markets by non-economic ways. In this context, the state becomes the key economic actor, which distributes resources by extra-market means within the hierarchy of rental groups that form the framework of a new structure of the political community.
Estrin, Saul; Tian, Lihui
The role of government shareholding in corporate performance is central to an understanding of China’s newly privatized large firms and the stock market. In this paper, we analyse shareholders as agents that can both harm and benefit companies. We examine the ownership structure of 826 listed corporations and find that government shareholding is surprisingly large. Its effect on corporate value is found to be negative, but non-monotonic. Up to a certain threshold, corporate value decreases as...
The author argues that the college textbook market provides a clear example of monopoly seeking as described by Tullock (1967, 1980). This behavior is also known as rent seeking. Because this market is important to students, this example of rent seeking will be of particular interest to them. (Contains 24 notes.)
Burghouwt, G.; de Wit, W.
This report addresses the responses related to scarcity rents and airport charges. The Commission has asked ITF/SEO to provide evidence on scarcity rents in the London airport system. Different reports submitted in response to the Commission’s consultation make different assumptions on the way
Full Text Available Authors analyses available position of more full distribution of natural rents from obtaining business to State for decision many socio-economic problem in scientific and journalistic literature. With position of civil law they reveal fact that present-day appropriation of State minerals which become property of extracting enterprises show the legal nonsense. This fact is contradict current legislation. Instead of function point of view about forms of rent withdrawal from income obtaining enterprises authoress thinking that the most lawful and fair way of receipt natural rent by State like owner of minerals is contractor’s agreement on extraction minerals.
... URBAN DEVELOPMENT SECTION 8 TENANT BASED ASSISTANCE: HOUSING CHOICE VOUCHER PROGRAM Rent and Housing Assistance Payment § 982.509 Rent to owner: Effect of rent control. In addition to the rent reasonableness...
Department of Housing and Urban Development — Due to the increasing demand for more localized rents for a variety of purposes, HUD is making Small Area FMRs for all metropolitan areas available. Small Area FMRs...
Vittes, Katherine A; Vernick, Jon S; Webster, Daniel W
Gun possession by high-risk individuals presents a serious threat to public safety. U.S. federal law establishes minimum criteria for legal purchase and possession of firearms; many states have laws disqualifying additional categories for illegal possession. We used data from a national survey of state prison inmates to calculate: 1) the proportion of offenders, incarcerated for crimes committed with firearms in 13 states with the least restrictive firearm purchase and possession laws, who would have been prohibited if their states had stricter gun laws; and 2) the source of gun acquisition for offenders who were and were not legally permitted to purchase and possess firearms. Nearly three of ten gun offenders (73 of 253 or 28.9%) were legal gun possessors but would have been prohibited from purchasing or possessing firearms when committing their most recent offense if their states had stricter prohibitions. Offenders who were already prohibited under current law acquired their gun from a licensed dealer, where a background check is required, five times less often than offenders who were not prohibited (3.9% vs. 19.9%; χ(2)=13.31; p≤0.001). Nearly all (96.1%) offenders who were legally prohibited, acquired their gun from a supplier not required to conduct a background check. Stricter gun ownership laws would have made firearm possession illegal for many state prison inmates who used a gun to commit a crime. Requiring all gun sales to be subject to a background check would make it more difficult for these offenders to obtain guns.
Full Text Available Efficient and sustainable use of forest resources depend on various factors. However, one of the most emphasized and discussed topics among these factors is forest ownership. Comparative law is an important way of analyzing and understanding legal systems of different countries, and identifying different aspects of the current legal systems. This study tries to analyze forest ownership with regard to comparative law. France for the Continental-European legal system, Great Britain for the Anglo-Saxon legal system, and Russia Federation for the Socialist legal system are taken respectively as a base. Thus, how right to ownership is evaluated in different legal systems and what are the main features of that are indicated. As a result, private forest ownership is common in the Continental-European legal system and Anglo-Saxon legal system while state ownership is common in the Socialist legal system. Prevalence of private forest ownership in the Continental-European and the Anglo-Saxon legal systems is also closely related to the previous use rights transferred into right to ownership. In addition, it is concluded regarding the historical process that many changes occurred on forest ownership types without considering differences in legal systems.
Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad ... tenants and therefore in the process of transforming in line with the Constitution. ... KEYWORDS: Constitution; landlord-tenant law; rent control; rent regulation; ...
... PROJECT-BASED VOUCHER (PBV) PROGRAM Rent to Owner § 983.303 Reasonable rent. (a) Comparability requirement... that affect market rent, such as: (i) The location, quality, size, unit type, and age of the contract... the housing assistance payment based on the comparability analysis may not have any direct or indirect...
D. Brounen (Dirk); M.G.J. Jennen (Maarten)
textabstractIn this paper we use an error correction model for understanding the changes in real office rents for a panel of 15 U.S. MSA's over the period 1990-2007. We find that office rents in all cities react positively to a rise in office employment and lagged rent changes, while lagged
Full Text Available Purpose: The purpose of this paper is to examine the effect of private benefits of control on minority shareholders. Design/methodology/approach: A theoretical model is established. The empirical analysis includes hand-collected data from a wide range of data sources. OLS and 2SLS regression analysis are applied with Huber-White standard errors. Findings: The theoretical model shows that, while private benefits are generally harmful to minority shareholders, the overall effect depends on the size of large shareholder ownership. The empirical evidence from government ownership is consistent with theoretical analysis. Research limitations/implications: The empirical evidence is based on a small number of hand-collected data sets of government ownership. Further studies can be expanded to other types of ownership, such as family ownership and financial institutional ownership. Originality/value: This study is the first to theoretically analyse and empirically test the effect of private benefits. In general, this study significantly contributes to the understanding of the effect of large shareholder and corporate governance.
Kalkuhl, Matthias; Brecha, Robert J.
By reducing the demand for fossil fuels, climate policy can reduce scarcity rents for fossil resource owners. As mitigation policies ultimately aim to limit emissions, a new scarcity for “space” in the atmosphere to deposit emissions is created. The associated scarcity rent, or climate rent (that is, for example, directly visible in permit prices under an emission trading scheme) can be higher or lower than the original fossil resource rent. In this paper, we analyze analytically and numerically the impact of mitigation targets, resource availability, backstop costs, discount rates and demand parameters on fossil resource rents and the climate rent. We assess whether and how owners of oil, gas and coal can be compensated by a carbon permit grandfathering rule. One important finding is that reducing (cumulative) fossil resource use could actually increase scarcity rents and benefit fossil resource owners under a permit grandfathering rule. For our standard parameter setting overall scarcity rents under climate policy increase slightly. While low discount rates of resource owners imply higher rent losses due to climate policies, new developments of reserves or energy efficiency improvements could more than double scarcity rents under climate policy. Another important implication is that agents receiving the climate rent (regulating institutions or owners of grandfathered permits) could influence the climate target such that rents are maximized, rather than to limit global warming to a socially desirable level. For our basic parameter setting, rents would be maximized at approximately 650 GtC emissions (50% of business-as-usual emissions) implying a virtual certainty of exceeding a 2 °C target and a likelihood of 4 °C warming. - Highlights: • Fossil resource rents form a substantial share of the global GDP. • Fossil resource owners can benefit from climate policy. • Climate targets might be influenced by rent-maximizing aspects
Shrestha, Ram M.; Abeygunawardana, A.M.A.K.
Existing studies have mostly estimated the ex post economic rent of hydropower for the hydroelectric system of a province or a country as a whole and have ignored the site- or project-specific variations in the economic rent of hydropower plants. Further, most of the existing studies have used simplified methods to calculate the rent ex post. This paper presents a rigorous methodology for estimation of site-specific (i.e., project specific) economic rent of hydropower ex ante. It applies the methodology in the case of a hydropower project and analyzes the sensitivity of the rent to variations in some key parameters.
Komarov V. F.
Full Text Available The article deals with the phenomenon called «rent». In the research authors have obtained scientific knowledge in three directions. The first new scientific result is based on the fundamental scientific fact: «All products in the competitive market are sold at a price equilibrium. Therefore, if the seller can sell goods cheaper than the equilibrium price, they extract rents as super-profits: entrepreneur or monopoly rents (including natural, mining, as well as patent, license, author». Note that the term «entrepreneur rent» was introduced into scientific discourse for the first time in this article. The second new scientific result is based on the fundamental scientific fact: «the right of ownership includes three powers: the right of ownership, the right of use, the right of disposal». The right of possession and temporary use can be sold separately, which allows to extract the lease rent. Important fact is that rental contracts as rents (between a landlord and a tenant employ the concept of «time»! Note that such an understanding of rent is formalized in the Civil Code. The third new scientific result is based on the fundamental scientific fact: «any administrative (governmental service can be carried out: (a strictly according to instructions, or (b initiatively, inventively, with a focus on the customer, especially if it is accompanied by a personal benefit of the service provider. The difference between formal and creative execution of duties constitutes «an increase» (discretion to the result of the administrative acts. Corrupt official can sell this “increase”, extracting discretionary (corrupt rent». The article presents the formulations of the scientific facts mentioned above, the concept of «rent» formulations, relevant to these facts, as well as studies, formulas, illustrations of the identified theoretical ideas and practical examples of their manifestations.
Prljić, Stefan; Nikitović, Zorana; Stojanović, Aleksandra Golubović; Cogoljević, Dušan; Pešić, Gordana; Alizamir, Meysam
Economic profit could be influenced by economic rents. However natural resource rents provided different impact on the economic growth or economic profit. The main focus of the study was to evaluate the economic growth as function of natural resource rents. For such a purpose machine learning approach, artificial neural network, was used. The used natural resource rents were coal rents, forest rents, mineral rents, natural gas rents and oil rents. Based on the results it is concluded that the machine learning approach could be used as the tool for the economic growth evaluation as function of natural resource rents. Moreover the more advanced approaches should be incorporated to improve more the forecasting accuracy.
Yaoqi Zhang; Daowei Zhang; John Schelhas
The transaction cost approach is used to explain why small non-industrial private forest (NIPF) ownerships are increasing in the U.S. We argue that the number of small NIPF owners have increased because: 1) a significant amount of forestland is no longer used economically if primarily for timber production, but rather for non-timber forest products and environmental...
Kjetil Bjorvatn; Mohammad Reza Farzanegan
We study the association between resource rents and political stability, highlighting the importance of the distribution of political power as a mediating factor. We present a simple theoretical model showing that increased rents are likely to be positively associated with the stability of a powerful incumbent while destabilizing a less powerful incumbent. Our empirical analysis confirms this prediction: Using panel data for more than 120 countries from 1984-2009, our results show that rents ...
Van Witteloostuijn, Arjen; Van Marrewijk, Charles
As part of the larger energy market deregulation program, the Dutch energy authority - DTe - has developed the habit to force the Dutch gas transport enterprise - Gas Transport Services, or GTS - to lower its prices. DTe's key argument is that lower gas transport prices will benefit the end-user. Indeed, that might well be the case. This policy, in general, is in line with European legislation on the liberalization of the gas market. We model and simulate the (domestic) welfare effects of a 5 percent transport price reduction. From this, we conclude that at least three observations complicate matters substantially. First, GTS is government-owned, and the dominant shipper - Gasunie Trade and Supply (or GasTerra, as it was recoined recently) - is partly so (50%). Second, shippers enter into the competitive game to make profits. Third, not only is the majority of gas transported in the Netherlands exported to foreign end-users, but also foreign owners have a large stake in Dutch shippers. As a result, part of the rents will always be distributed, or will 'leak' away, to foreign consumers and shippers (or their shareholders). These three observations together have three important implications. First, state ownership implies that much rent allocation is simply a matter of circulating money from one government sub-budget to the other. Second, given that the industry is imperfectly competitive, part of the rents will not be passed on to the end-consumers. Third, it is unavoidable that a substantial part of the rents are transferred abroad. A general conclusion for policy-makers is that market liberalization might not bring ex post what they expected ex ante. (author)
Rasmussen, Torben Valdbjørn
in homes was measured and the Buildings were registered for a series of variables describing upgrades, facilities, building components, Construction characteristics and used materials. In addition, the radon level was measured in the basement in 9 of the buildings. The mean year value of the indoor radon......Indoor radon levels were measured in 221 homes located in 53 buildings, including 28 multi-occupant houses and 25 single-family terraced houses. The homes consisted of rented accommodation located in buildings recorded as being constructed before 2010 and after the year 1850. The radon level...... radon levels exceeding 100 Bq/m3 in homes in multi-occupant houses was found to be very low, but the risk was highest on the ground floor in a building constructed with slab on ground....
Full Text Available Recent case law shows that vulnerable, previously disadvantaged private sector tenants are currently facing eviction orders – and consequential homelessness – on the basis that their leases have expired. In terms of the case law it is evident that once their leases have expired, these households do not have access to alternative accommodation. In terms of the Constitution, this group of marginalised tenants have a constitutional right of access to adequate housing and a right to occupy land with legally secure tenure. The purpose of this article is to critically analyse a number of legislative interventions, and specifically rent control, that were imposed in various jurisdictions in order to provide strengthened tenure protection for tenants. The rationale for this analysis is to determine whether the current South African landlord-tenant regime is able to provide adequate tenure protection for vulnerable tenants and therefore in the process of transforming in line with the Constitution. The legal construction of rent control was adopted in pre-1994 South Africa, England and New York City to provide substantive tenure protection for tenants during housing shortages. These statutory interventions in the different private rental markets were justified on the basis that there was a general need to protect tenants against exploitation by landlords. However, the justification for the persistent imposition of rent control in New York City is different since it protects a minority group of financially weak tenants against homelessness. The English landlord-tenant regime highlights the importance of a well-structured social sector that can provide secure, long-term housing options for low-income households who are struggling to access the private rental sector. Additionally, the English rental housing framework shows that if the social sector is functioning as a "safety net" for low-income households, the private sector would be able to uphold
Thampapillai, Dodo J.; Hansen, Jan; Bolat, Aigerim
Economies rich in mineral resources, need to evaluate the merits of investing rents earned from resource extraction in other income generating activities to sustain the flow of income. It is hence important to estimate and assess the potential uses of the resource rent tax (RRT). This paper illustrates how the reinvestment of the RRT and other government revenue from mining can reduce the depreciation of the mine. This illustration is made with reference to a coal deposit in the Tavan-Tolgoi region of Mongolia. The paper also illustrates impact of mining on the macroeconomic performance of Mongolia. Standard macroeconomic frameworks that ignore the depreciation of mineral assets overstate economic performance. The paper also reviews the political issues and constraints that surround the implementation of the RRT. One option canvassed here is the granting of qualified custodial rights of the RRT to the mining firm. Such qualified rights are pertinent given that the RRT is legally the income owed to the State and investments in ventures such as human capital development can yield returns as high as 10% per annum. This study illustrates that even an investment option yielding an annual 3% return can make a significant difference. - Highlights: • We estimate resource rents owed to the state from energy resource extraction. • We show that mining revenues are over-stated when the depreciation of mineral assets are ignored. • We show that the investment of resource rents offers avenues for sustaining the flow of income. • We argue that the state can grant custody of the rents to mining firms for the management of investments
Full Text Available G.A. Cohen was perhaps libertarianism’s most formidable critic. In Self-Ownership, Freedom, and Equality he levels several strong criticisms against Robert Nozick’s theory put forth in Anarchy, State, and Utopia. In this paper, I counter several of Cohen’s criticisms. The debate operates at three stages: (1 self-ownership, (2 world-ownership, and (3 initial acquisition. At the first stage, Cohen does not attempt to refute self-ownership, but weaken its force in providing moral grounds for capitalism. Here I argue that Cohen’s attempt to overturn Nozick’s slavery argument is unsuccessful because partial-slavery, while normatively different from full-slavery, is still normatively wrong. At the second stage, Cohen argues for a joint-ownership view of the world’s resources. In particular, he claims that self-ownership is rendered merely formal in a jointly-owned world and in a capitalist world. To rebut this challenge I show that even if Cohen is right about this, libertarian self-ownership is only formal in Cohen’s peculiar case where only two people exist and one owns everything. In contrast, self-ownership in a jointly-owned world is formal in all cases. Lastly, at the third stage, Cohen argues against Nozick’s interpretation of the Lockean proviso, claiming that it is impossible to satisfy. Granting Cohen’s argument here, I go on to defend Jan Narveson’s no-proviso view of acquisition from Cohen’s thus far unanswered criticism. I show that significantly, in his critique, Cohen equivocates between positive and negative rights. Taken jointly, my responses at these three stages ground the anti-egalitarian conclusion that, in Cohen’s words, ‘[e]xtensive inequality of condition is unavoidable, or avoidable only on pain of violating people’s rights to themselves and to things.’ The sequence, then, is from self-ownership, to world-ownership, via initial acquisition.
Full Text Available Економічні науки. – 2015. – № 4 (74. – P. 43–49: Table 4. – Refs.: 22. As a result of the study it has been established that intellectual rent as additional income arises resulting from the usage of intellectual property objects. At present the issue of the accounting reflection of transactions that form intellectual rent remains to be not thoroughly disclosed and requires more depth study for improving the performance of the innovative enterprises as well as for increasing the informativeness of the accounting system. In connection with the above defined organizational and methodical aspects of accounting operations with intellectual rent in assessing the rents of its type, the definition of accounts for the accounting reflection of the order determining the amount of intellectual rent on accounting data. Proposed document that would facilitate the work of accountants for the calculation of the amount of intellectual rent and provide information about the effectiveness of the company. Application of the proposed method of accounting reflect the formation and distribution of intellectual rent allows management personnel to provide the necessary innovative activity of the enterprise information management rent, since it is a type of income of the enterprise.
Davis, Joseph M.
This booklet offers guidelines by which a person can make an informed decision about whether buying or renting a house is the best individual alternative. Advantages and disadvantages of both buying and renting are listed. Cost considerations are discussed and compared along with such considerations as selection of the time to buy and estimation…
... SUPPORTIVE HOUSING FOR THE ELDERLY PROGRAM AND SECTION 811 SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES... Fair Market Rents for Existing Housing, except that they may be exceeded by: (1) Up to 10 percent if... 75 percent of the published Section 8 Fair Market Rents for New Construction, which limitation may be...
Full Text Available The status rent and conditions of its appearance are characterized in new developing economy by the position of new political economy. The bases of the general theory of rent were laid by classicists of political economy (F. Cene, A. Smith, J. Anderson, J. Mill, T. Maltus, D. Ricardo, K. Marx. They differentiated the rare rent (natural, absolute rent and differential land rent. Neoclassicists widened the definition of rent understanding it as income from any productive factor not only from land. Mostly, investigators of rent keep to two main postulates. Firstly, it is over profit, the income of special kind connected with using of exclusive, limited or rare goods for some time. Secondly, the rent is owned by the owners of these goods. These statements belonging to the natural rent can be used for the analysis of others, unnatural kinds of rent. The status rent belongs here. Let us analyze the status rent from the position of new political economy. As old political economy the new one also has its object - economic relations in the society and it call for the opening of deep, important processes of economic life. But by contrast with old political economy the new one, firstly, is based on other methodology (institutional economy, the theory of social choice, system approach; secondly, it studies economic relations not as static (the position of different classes, but as dynamic in economic behavior; thirdly, it is not confrontational: economic relations are understood not as antagonistic with non-avoidance of social cataclysm but as conflict-compromising; fourthly, it operates not only with social aggregates (class, country, social group, but it is also directed to a person, his/her freedom of choice in economic behavior; and, finally, fifthly, it overcomes the past careful marking out of other sciences, and, on the contrary, strives for an interdisciplinary approach in the stream of modern institutionalism including the problems of sociology
... DEVELOPMENT SECTION 8 TENANT BASED ASSISTANCE: HOUSING CHOICE VOUCHER PROGRAM Rent and Housing Assistance Payment § 982.506 Negotiating rent to owner. The owner and the family negotiate the rent to owner. At the...
Explored relationship between the extent of gun ownership and the strictness of gun control laws to suicide and homicide rates in the nine major geographic regions of the United States. Found gun ownership, rather than the strictness of gun control laws, was the strongest correlate of the rates of suicide and homicide by guns. (Author)
Full Text Available The institution of property rights is increasingly being recognized as an essential building block of an economically prosperous society. The question that remains unanswered however, is how do we develop effective property rights institutions? The literature dealing with the development of property rights tends to be, in general, overly optimistic since there is a tendency to view the design of property rights institutions as optimizing decisions to economize on transaction costs and to facilitate new economic activities. On the other hand, since property rights define the distribution of wealth and political power in a society changes in property rights structures are likely to be influenced by more than pure efficiency considerations. Therefore, in order to achieve a balanced analysis of the evolution of property rights institutions our article introduces the state in the whole process. Following the propositions of the interest group theory of government we show an important relationship between rent seeking and state involvement in property rights creation. The state with a coercive power to establish and enforce property rights can also use that power, through the process of economic regulation, to redistribute property rights to politically influential interest groups. Herein lies the state failure in property rights creation.
Cadan, K. (Federalni Ministerstvo Paliv a Energetiky, Prague (Czechoslovakia))
Reviews historical concept of ground rents with reference to works of Adam Smith and David Ricardo and to 19th century capitalism and Marxism-Leninism. Asks whether mine rents can exist under a socialist system and examines theoretical basis for mine rents, which includes socio-economic aspects, geological conditions, proximity to markets and environmental considerations. Compares mine rents with agricultural land rents and analyzes value of end product (coal) and effect of pricing method on it. Explains pricing system in Czechoslovakia, which involves 3 groupings: coking coal, coke and energy coal (including briquets), the price of each of which is set according to average costs and geological conditions. Surplus revenue (or positive mine rent) only arises therefore at mines where the production costs are lower than fixed trade prices. Discusses in general terms application of new economic system (perestroika) to concept of mine rent and assessment of mine profitability and concludes that method of pricing solid fuels will play a decisive role. 4 refs.
Gregoric, Aleksandra; Masten, Arjana Brezigar; Zajc, Katarina
of the multiple blockholder structures that these firms were assigned at privatization. We observe significant path dependence: patterns of ownership and control are in part determined by the persistence of the initial privatization owners (state funds, privatization investment funds, employees, and managers...
Wodtke, Geoffrey T
This study outlines a theory of social class based on workplace ownership and authority relations, and it investigates the link between social class and growth in personal income inequality since the 1980s. Inequality trends are governed by changes in between-class income differences, changes in the relative size of different classes, and changes in within-class income dispersion. Data from the General Social Survey are used to investigate each of these changes in turn and to evaluate their impact on growth in inequality at the population level. Results indicate that between-class income differences grew by about 60% since the 1980s and that the relative size of different classes remained fairly stable. A formal decomposition analysis indicates that changes in the relative size of different social classes had a small dampening effect and that growth in between-class income differences had a large inflationary effect on trends in personal income inequality.
Wodtke, Geoffrey T.
This study outlines a theory of social class based on workplace ownership and authority relations, and it investigates the link between social class and growth in personal income inequality since the 1980s. Inequality trends are governed by changes in between-class income differences, changes in the relative size of different classes, and changes in within-class income dispersion. Data from the General Social Survey are used to investigate each of these changes in turn and to evaluate their impact on growth in inequality at the population level. Results indicate that between-class income differences grew by about 60 percent since the 1980s and that the relative size of different classes remained fairly stable. A formal decomposition analysis indicates that changes in the relative size of different social classes had a small dampening effect and that growth in between-class income differences had a large inflationary effect on trends in personal income inequality. PMID:27087695
Andersen, Jørgen Juel; Johannesen, Niels; Lassen, David Dreyer
Do political institutions limit rent seeking by politicians? We study the transformation of petroleum rents, almost universally under direct government control, into hidden wealth using unique data on bank deposits in offshore financial centers that specialize in secrecy and asset protection. Our...... rulers is diverted to secret accounts. We find very limited evidence that shocks to other types of income not directly controlled by governments affect hidden wealth....
Mygind, Niels; Faigen, Benjamin
Purpose: Little systematic work has been completed on the incidence of employee ownership in a Chinese context. Similar to the situation in Eastern Europe, this type of ownership was quite widespread in China, particularly during the 1990s. Based on the existing literature and available statistical...... data, the purpose of this paper is to identify drivers of, and barriers to, the development of employee ownership in China. Design/methodology/approach: The scattered evidence from the literature and official statistical sources are collected and structured in a systematic analysis where the drivers...... of the privatisation of small- and medium-sized state-owned enterprises as well as collectively owned enterprises. However, in most cases the dynamics of ownership resulted in dominant ownership by managers. This trend became more noticeable at later stages of the privatisation process. Research limitations...
... 202 SUPPORTIVE HOUSING FOR THE ELDERLY PROGRAM AND SECTION 811 SUPPORTIVE HOUSING FOR PERSONS WITH...-Basic Policies § 882.408 Initial contract rents. (a) Fair Market Rent limitation. The Fair Market Rent Schedule for Moderate Rehabilitation is 120 percent of the Existing Housing Fair Market Rent Schedule...
This article examines the politics of private renting in 1950s and early 1960s Britain, through the radical approach taken by Labour Party towards private landlords. Through setting the radical aims of Labour in a mid-twentieth-century context of decrepit housing, rising rents and sluggish public housing programmes, Labour's rationale in arguing for the 'abolition' of the private landlord is more transparent. This article takes a chronological approach, investigating what actions Labour actors took, at local and national level, and what effect this had on the wider housing market. Part one takes a long view of Labour attitudes to the private rented sector. Part two explores the policy of 'municipalization'-the attempt to place rented homes under local authority control. Part three discusses the post-1962 policy shift to state-sponsored 'improvement' of private rented housing, prior to Labour's victory at the 1964 general election. Three key arguments are made: that Labour's radicalism hastened the collapse of the post-war private rented sector; that rental market weaknesses indicated the confused place of renting in the 'tenurial pattern'; and that the proposed 'abolition' of private landlords had a direct effect on slum clearance and the composition of British cities. The conclusion suggests that Labour's pursuit of the private landlord can shed light on the vast urban transformations of the post-war period. It invites greater attention to be paid to the effects that political ideas had on the composition of the twentieth-century British housing market.
Ngina S. Chiteji; Frank P. Stafford
This paper examines cross-generational connections in asset ownership. It begins by presenting a theoretical framework that develops the distinction between the intergenerational transfer of knowledge about financial assets and the direct transfer of dollars from parents to children. Its analysis of data from the Panel Study of Income Dynamics (PSID) reveals intergenerational correlations in asset ownership, and we find evidence to suggest that parental asset ownership or family-based exposur...
Bjorvatn, Kjetil; Selvik, Kjetil
In countries with poorly developed institutions, rent seeking may impose serious costs for the economy. Our analysis demonstrates how rent seeking distorts the economy through two channels. First, there is the direct cost of the resources wasted in the rent seeking contest. Second, rent seeking distorts firms’ investment decisions, and leads to underinvestment. We conduct a case study of rent seeking in Iran in order to gain a better understanding of the phenomenon. Iran is ...
Yin, Zhujia; Liu, Lijuan; Wang, Haidong; Wen, Fengming
Based on the database data of Chinese industrial enterprises from 2000 to 2007 and the LP method, this paper measures the total factor productivity of enterprises and investigates the effect of different mixed ownership forms on enterprises' efficiency and the effect of heterogeneous ownership balance on the mixed ownership enterprises' efficiency. The state-owned enterprise and mixed ownership enterprise are identified by the enterprise's paid-up capital. The results show that, on the whole, for the mixed ownership enterprise, the higher the diversification degree of the shareholders is, the higher the efficiency becomes, and in different types of industries, the mixed forms of shareholders have different effects on the efficiency of enterprises. The heterogeneous ownership balance and the enterprise efficiency show nonlinear U-type relationships. Both the higher and lower heterogeneous ownership balance degrees will promote the enterprise's efficiency. However, when the ownership balance degree is in the range of [0.2 0.5], the increase in ownership balance will lead to the decline of enterprise efficiency. Therefore, when introducing non-state-owned capital, state-owned enterprises should take full account of their own characteristics by rationally controlling the shareholding ratio of non-state-owned capital and play the positive role of a mixed ownership structure in corporate governance with appropriate ownership balances.
Baghdasaryan, Delia; la Cour, Lisbeth
Theoretical results support two concurrent views regarding the mediating role that ownership structure might play on the effect of competition on firm performance. According to one stream of literature, competition has a high, positive impact in companies that have an effective ownership structur...
The Swiss Permanent Mission in Geneva has requested CERN to inform the members of its personnel that a notice relating to Swiss legislation on dog ownership has been published on-line at the following address: http://www.eda.admin.ch/eda/en/home/topics/intorg/un/unge/gepri/pet.html This legislation is applicable to all international civil servants who own a dog. Relations with the Host States Service mailto:email@example.com http://www.cern.ch/relations/
Full Text Available This paper addresses the generation of rents and the distribution of gains in the global operations of governed Global Value Chains (GVCs and seeks to provide an architecture for analyzing the governance of GVCs. It distinguishes between four sets of rent—gifts of nature; innovation rents; exogenously defined rents; and market power—and three spheres of governance—setting the rules -“legislative governance”; implementing the rules -“executive governance”; and monitoring rules and sanctioning malfeasance -“judicial governance.” The exercise of governance power in GVCs over the generation, protection and appropriation of rents is considered though the lens of four sets of key GVC stakeholders—the corporate sector, civil society organizations, the nation state and supranational institutions. This general analysis is given flesh through three case studies: food-safety standards in GVCs; taxation policies and competition policies. In these sectors, the corporate sector is generally much more effective in governing rent generation and appropriation in the global operations of GVCs than are the three sets of non-corporate stakeholders. From this observation we offer a hypothesis that the capacity of non-corporate stakeholders, including national states, to govern GVCs is contingent upon the extent to which this coincides with the interest of the corporate sector. However, as noted, this balance of power between private and non-corporate actors is a contested terrain and dynamic in nature.
... PROGRAM) SECTION 8 MODERATE REHABILITATION PROGRAMS Special Procedures for Moderate Rehabilitation-Basic... Annual Adjustment Factor by the base rents. However, if the amounts borrowed to finance the rehabilitation costs or to finance purchase of the property are subject to a variable rate or are otherwise...
This case describes one of the Ownership Barometer’s (Korsager, 2016) three owner-types, namely the formal owner. The Ownership Barometer is an analytic tool to analyze an owner-manager’s feeling of ownership. The case exemplifies the formal owner-type by describing the character of KALK’s founder......, Mr Michael Jorgensen. His son, Mr Rasmus Jorgensen, explains how his father managed their family business, how he collaborated with the father when he joined the company, and how he eventually managed to take over the company after his father. The case draws on the author’s interviews of Mr Rasmus...
Amundsen, Eirik S.
The paper considers the effects of introducing large scale gas power production capacity into an electricity sector based on hydropower. In this process the economic rent is transmitted from the hydro power sector to the resource rent in the gas power sector, but is along the way intermingled with ordinary producer surplus and quasi-rent stemming from increasing cost conditions in the production infrastructure and capacity constraints. The net effect on total rent generated depends on development in demand, demand elasticities, costs saved from delaying hydropower projects and the existence of producer surplus in gas power generation. The paper closes with a discussion of possible tax base changes following from the introduction of a thermal power system based on natural gas
Ali, Suhaila; Aziz, Abdul Rashid Abdul
This paper reviews the literature on rent-seeking behaviors in property development, and discusses three major areas: (1) definition and concept of rent-seeking; (2) factors for the rent-seeking behavior appeared; and (3) the impact of rent-seeking behaviors, particularly on property development. In general, there is no exact word that can define what rent-seeking is. It is found that from the reviewed studies that a few researches have adopted search tasks to predict rent-seeking behavior effects in the economy and the respective economic performance. Based on the findings of the review, rent-seeking behavior increases social cost and this might lead to problems such as corruption. This paper paves the way for future studies in examining rent-seeking behaviors in the Malaysian property development, especially for targeted actions to be taken to alleviate upward pressure on home prices.
Kalesan, Bindu; Villarreal, Marcos D; Keyes, Katherine M; Galea, Sandro
We assessed gun ownership rates in 2013 across the USA and the association between exposure to a social gun culture and gun ownership. We used data from a nationally representative sample of 4000 US adults, from 50 states and District of Columbia, aged >18 years to assess gun ownership and social gun culture performed in October 2013. State-level firearm policy information was obtained from the Brady Law Center and Injury Prevention and Control Center. One-third of Americans reported owning a gun, ranging from 5.2% in Delaware to 61.7% in Alaska. Gun ownership was 2.25-times greater among those reporting social gun culture (PR=2.25, 95% CI 2.02 to 2.52) than those who did not. In conclusion, we found strong association between social gun culture and gun ownership. Gun cultures may need to be considered for public health strategies that aim to change gun ownership in the USA. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://www.bmj.com/company/products-services/rights-and-licensing/
... 27 Alcohol, Tobacco Products and Firearms 1 2010-04-01 2010-04-01 false Renting display space. 6.35 Section 6.35 Alcohol, Tobacco Products and Firearms ALCOHOL AND TOBACCO TAX AND TRADE BUREAU... Renting display space. The renting of display space by an industry member at a retail establishment...
... 27 Alcohol, Tobacco Products and Firearms 1 2010-04-01 2010-04-01 false Renting display space. 6.56 Section 6.56 Alcohol, Tobacco Products and Firearms ALCOHOL AND TOBACCO TAX AND TRADE BUREAU... Distribution Service § 6.56 Renting display space. A promotion whereby an industry member rents display space...
... URBAN DEVELOPMENT PROJECT-BASED VOUCHER (PBV) PROGRAM Payment to Owner § 983.353 Tenant rent; payment to... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Tenant rent; payment to owner. 983... owner. (b) Tenant payment to owner. (1) The family is responsible for paying the tenant rent (total...
Austvik, Ole Gunnar
In petroleum producing countries it has been a prevailing opinion that a resource rent should be earned by petroleum producers due to the commodities' non-renewable nature. An important element in this logic is that the supply of oil and natural gas is limited to relatively few places in the world. As the resources are exploited, the remaining reserves are reduced. What is extracted today cannot be extracted tomorrow. Rationing of the scarce resource takes place through pricing mechanisms. Due to the scarcity the consumers must pay a higher price than the marginal production costs, so that the amounts supplied and demanded become equal. Most producers of oil and gas and not just the ones that produce the cheapest, have therefore until now earned an economic rent
Banfi, Silvia; Filippini, Massimo; Mueller, Adrian
The electricity generation in Switzerland is mostly based on hydropower (∼58%) and nuclear power (∼38%). The exploitation of water in the hydropower sector can generate significant economic rent. One possibility to capture this rent is through royalties or fees. This system has been used in Switzerland since many decades. However, the actual water fee system is not flexible and does not take into consideration different production costs between the type and location of hydropower plants. Furthermore, storage plants can sell electricity to a higher price than run-of-river plants. A flexible system is needed in a liberalized electricity market, to take into account these different production situations and the fact that prices may vary considerably over time. The main goal of this paper is to calculate the potential economic rent that could be generated in the Swiss hydropower sector under a future liberalized market. Based on the results of the paper, it can be concluded that the introduction of a flexible fee system could improve the competitiveness of the hydropower sector and promote an energy system based on renewable energy sources
Peterson Kitakogelu Ozili
Full Text Available We investigate whether ownership concentration influences bank profitability in a developing country context. We focus on bank ownership concentration measured as the amount of direct equity held by a majority shareholder categorised into: high ownership concentration, moderate ownership concentration and disperse ownership. We find that banks with high ownership concentration have higher return on assets, higher net interest margin and higher recurring earning power while banks with dispersed ownership have lower return on assets but have higher return on equity. Also, higher cost efficiency improves the return on assets of widely-held banks and the return on equity of banks with moderate ownership. The findings have implications. JEL: Code: G3, G34, G31, Keywords: Corporate governance, Ownership structure, Agency theory, Profitability, Firm performance, Banks, Return on asset, Return on equity
Jack M. Mintz
Full Text Available Oil price fluctuations, concerns over the division of resource revenues, and unconventional oil and gas developments are forcing governments to confront the same issue: how to design optimal royalty and corporate tax systems that bring in a publicly acceptable share of revenues without discouraging private investment. This paper surveys tax and royalty systems across six countries, as well as four US states and five Canadian provinces, offering concise analyses of their strengths and shortcomings to describe the best and simplest approaches to both. As in a public-private partnership, government owns the resources and allows private agents to maximize the rents resources generate. An optimal royalty system will thus be rent-based, ensuring that both owner and agent obtain maximally competitive returns so that each has incentives to continue the partnership. Such a system will also be simple, making compliance easy, manipulation difficult, and risks affordable. And it will be stable, instilling in the private sector the confidence needed to invest for the long term. As for corporate income taxes, they should be neutral across business activities, and applied at equal effective rates on economic income, to avoid distorting market forces through subsidies or needless complexity. A clean rent-based tax that allows all costs incurred by producers to be expensed or carried over, along with a corporate income tax system shorn of many of the preferences that negatively affect business activity, should be the way forward for any government looking to update their fiscal regimes for the 21st century.
McIntyre, Lynn; Wu, Xiuyun; Kwok, Cynthia; Emery, J C Herbert
Home ownership as opposed to renting is associated with lower rates of food insecurity, the latter being a marker of household economic deprivation associated with adverse health outcomes. It is unclear whether this relationship persists during a major economic decline, or whether different subgroups of home owners are equally protected. The 2008-2009 recession in Canada was tied to events in the United States related to inappropriate mortgage financing; the impact of the recession on food insecurity among home owners may identify policies to mitigate recessionary outcomes. We used a before-and-after natural experimental design using data from the Canadian Community Health Survey (CCHS) cycles 2007/2008 (pre-recession) and 2009/2010 (post-recession) with information on household food insecurity, home ownership versus renting, and socio-demographics. Applying multivariable logistic regression, we examined changes in household food insecurity by housing tenure and sex over the period. Pre-recession, food insecurity affected 3.3% of home owners and 17.1% of renter households. Among home owners, the risk of food insecurity increased post-recession by 10%, which was not statistically significant. Post-recession, and with adjustment, although renters' higher absolute risk of food insecurity persisted, male-respondent home owners experienced the highest rate of increase in food insecurity prevalence by subgroup (OR = 1.26, 95% CI: 1.06-1.50) versus renters (OR = 1.17, 95% CI: 1.05-1.29). Housing policies in Canada protected most home owners from precarity during the 2008-2009 economic recession; however, male-respondent home owners exhibited a unique economic vulnerability during this time. Implications of Canadian home ownership policies are discussed in light of differential vulnerability of home owner groups.
Andersen, Torben M.; Sørensen, Allan
"protection" and "specialization" rents. In particular, wage inequality among similar workers (residual wage inequality) may be U-shaped, at first decreasing and then increasing in the process of product market integration. Consequently, there may be gains in both the efficiency and the equity dimension until......Globalization in the form of product market integration affects labour markets and produces winners and losers. While there are aggregate gains, it is in general ambiguous how inequality is affected. We explore this issue in a Ricardian model and show that it depends on the balance between...
Farooq, Omar; El Jai, Hind
Does poor legal protection of minority shareholders provide enough incentives for majority shareholders to expropriate minority shareholders and hide their unscrupulous behavior through accounting manipulations? This paper attempts to study the effect of ownership structure (ownership of the larg......Does poor legal protection of minority shareholders provide enough incentives for majority shareholders to expropriate minority shareholders and hide their unscrupulous behavior through accounting manipulations? This paper attempts to study the effect of ownership structure (ownership...
Köthenbürger, Marko; Poutvaara, Panu
Previous literature concludes that replacing wage taxation by taxes on a fixed factor or its rents benefits future generations. However, the effects of such steady-state gains on the transition generations have been left open. In this paper, we show that taxation of rents may also increase utilit...... of the current generation provided tax revenues are earmarked to reduce wage taxes. In particular, a shift in the tax mix may yield an intergenerational Pareto-improvement when the initially prevailing tax mix is sufficiently skewed toward wage taxation....
Nigeria undertook a major bank structure reform between 2004 and 2006. A pivotal plank of that reform was the pegging of government ownership in deposit money banks to 10%. This was informed by the general economic theory that state ownership in commercial undertakings hurts operating performance. This paper ...
Estifanos Biru Shargie
Full Text Available Following recent large scale-up of malaria control interventions in Ethiopia, this study aimed to compare ownership and use of long-lasting insecticidal nets (LLIN, and the change in malaria prevalence using two population-based household surveys in three regions of the country. Each survey used multistage cluster random sampling with 25 households per cluster. Household net ownership tripled from 19.6% in 2006 to 68.4% in 2007, with mean LLIN per household increasing from 0.3 to 1.2. Net use overall more than doubled from 15.3% to 34.5%, but in households owning LLIN, use declined from 71.7% to 48.3%. Parasitemia declined from 4.1% to 0.4%. Large scale-up of net ownership over a short period of time was possible. However, a large increase in net ownership was not necessarily mirrored directly by increased net use. Better targeting of nets to malaria-risk areas and sustained behavioural change communication are needed to increase and maintain net use.
Stephanie A. Snyder; Michael A. Kilgore
A national assessment of how the number of parcel owners influence family forest land management and use decisions in the US was conducted using a subset of the US Forest Service's National Woodland Owner Survey Dataset. Seventy-two percent of single parcel family forest land ownership respondents of at least 4.05 ha had multiple owners. The extent to which past...
Theodore M. Crone; Leonard I. Nakamura; Richard Voith
Until the end of 1977, the method used in the U.S. consumer price index (CPI) to measure rent inflation tended to omit rent increases when units had a change of tenants or were vacant. Since such units typically had more rapid increases in rents than average units, this response bias biased inflation estimates downward. Beginning in 1978, the Bureau of Labor Statistics (BLS) implemented a series of methodological changes that reduced response bias but substantial bias remained until 1985. We ...
We report an experiment designed to evaluate the impact of loss aversion on rent-seeking contests. We find, as theoretically predicted, a negative relationship between rent-seeking expenditures and loss aversion. However, for any degree of loss aversion, levels of rent-seeking expenditure are higher than predicted. Moreover, we find that the effect of loss aversion becomes weaker with repetition of the contest.
Patlatoy Oleksandr Ye.
Full Text Available The article is concerned with studying the economic content of the categories of «rent» and «quasi-rent», classification of their main forms arising in terms of relationships in the science and innovation sphere, and analyzing the specificity of formation of these incomes in conditions of contemporary innovation economy. The content of the category of «rent» as a form of income arising from the relationship of at least three entities has been revised; in the case of a scientific-innovation rent, it is the holder of a patent or a license holder, an industrial capitalist or an employee who creates a new or improved product; in some cases, the fourth entity of rent may be a hired researcher. In this relationship, the additional income earned by entrepreneurs in the event of commercial success has been defined as technological (innovation quasi-rent, which can change inversely proportional to the scientific-innovation rent. It has been proved that countries with innovation economies, acting as the main recipients of scientific-innovation rents, may concede to the technological quasi-rent of the less developed countries, in particular, to China.
Examines two controversial questions related to the problem of interpersonal violence in America: (1) Does use of the death penalty exert any measurable influence on the rate of homicide in the United States? (2) What relationship, if any, exists between the level of gun ownership and the level of homicide violence? (Author)
Mike Franz Wahl
Full Text Available In the new global economy, ownership has become a central issue for organizational performance. Ownership strategy is where corporate governance meets strategic management. Highlighting a knowledge gap in the field of corporate governance, the author is asking the central research question: “how to develop an ownership strategy?” The main purpose of this paper is to answer this original question and develop a better understanding about ownership strategies. Theoretically there is evidence to indicate that there is a link between strategic audit and ownership strategy. Analyzing firm cases from Estonia allows concluding that the strategic audit is useful for developing systemically ownership strategies, which in turn could be a realistic alternative for complete contracts. The use of strategic audits gives the business owner an opportunity to analyze his own actions and behavior, learning, managing knowledge, and finally clearly expressing his will in the form of an ownership strategy.
Obeng, Peter Appiah; Keraita, Bernard; Oduro-Kwarteng, Sampson
the challenges that undermine sanitation uptake in low-income peri-urban areas and the prospects of various levels of facility sharing as conceived in the latrine ownership ladder approach. Findings – The authors argue that the infrastructural and other socio-economic challenges of low-income peri-urban areas...... to the promotion of household latrines. The paper identifies provision of special concessions for peri-urban areas in policy formulation, education and technical support to households, regulation and enforcement of sanitation by-laws among complimentary policy interventions to make the latrine ownership ladder...... approach more effective. Originality/value – The paper provides an insight into the debate on redefining improved sanitation in the post-2015 era of the Millennium Development Goals and offers policy alternatives to policy makers in low-income countries seeking to accelerate the uptake of improved latrines...
Full Text Available There is the urgent necessity of the transition to a higher level of economic relations in the system of environmental management in the present conditions of economy of the country. As a result, the issues like formation of information support for water rent management, determining the ways of its calculation, distribution as well as usage of water rents require urgent solutions. The study focuses on the essence of water rent and forming organizational and methodological provisions of its accounting reflection to ensure sustainable ecological and economic development of the enterprise. As a result of research the classification of water rent, that affects reflection of such rent in accounting has been formed. It is established that the amount of water rent for accounting reflection can be defined as the difference between actual and normal profit of enterprise-water users. A number of analytical accounts of first and second order as well as the typical correspondence of accounts for accounting reflection of water rent have been suggested. The information from the Report on the formation of water rent that contains data on the sources of payback of expenses incurred for the maintenance of water bodies and the impact of ecological condition of water body on the size of water rent has been suggested to be used in order to manage the size of water rent and expenses incurred to obtain it. Thus, determining the amount of water rent will allow management personnel to adjust the activity of the company in accordance with the strategic objectives of the company’s development regarding the profitability and compliance with the concept of sustainable development.
... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Fair market rents for existing..., SECTION 202 DIRECT LOAN PROGRAM, SECTION 202 SUPPORTIVE HOUSING FOR THE ELDERLY PROGRAM AND SECTION 811... MARKET RENTS AND CONTRACT RENT ANNUAL ADJUSTMENT FACTORS Fair Market Rents § 888.115 Fair market rents...
... section. Except for financial hardship cases as provided in paragraph (d) of this section, the family may... on the market rent charged for comparable units in the private unassisted rental market. It is equal... determine the flat rent, the PHA must consider: (i) The location, quality, size, unit type and age of the...
Klomp, Jeroen; de Haan, Jakob
We examine whether governments' natural resource rents are affected by upcoming elections and if so, whether the incumbent uses these additional rents for re-election purposes. Estimates of a dynamic panel model for about 60 countries for 1975-2011 suggest that elections increase natural resource
Klomp, Jeroen; Haan, de Jakob
We examine whether governments' natural resource rents are affected by upcoming elections and if so, whether the incumbent uses these additional rents for re-election purposes. Estimates of a dynamic panel model for about 60 countries for 1975-2011 suggest that elections increase natural resource
Politicians and businessmen use various strategies to outwit their opponents. One such strategy is crowd renting, a powerful virtual strategy. A mathematical model developed by Nwobi-Okoye using game theory is used to show that crowd renting would always be the equilibrium strategy in strategic interactions involving ...
Tempelmans Plat, H.; Witting, S.
Office rents are not sufficient to compensate for the costs of the continuation of the exploitation process in the long run. Together with the book profit at the moment of sale, the rent may be sufficient merely to give a reasonable return on the historical investment. Viewing the exploitation
Knox, G.A.H.; Eliashberg, J.
In this paper, we focus on the perspective and business model of the rentailer — a retail outlet that rents and sells new and used home video titles. This requires predicting the consumer's decision to rent or buy a particular title, segmenting its customer base, and pricing new and used titles. We
Peer-to-peer platforms such as airbnb have recently entered the market thanks to the development of new technologies and their influence on traditional markets remains still understudied. Similarly, the multiplicity of local regulations adopted by big touristic cities in developed countries shows a lack of consensus both on the consequences and on the role of regulation. However, the actual impact of airbnb’s market entry on rents remains still unknown. I assess the causal impact of the begin...
... partners expressly agree otherwise as permitted by applicable State law. (2) Asset sale. Transfer of all or... corporations, resulting in a new corporate body. (b) Change of ownership, exception. Transfer of corporate...
Horn, Sr, John M
In view of United States global commitments and larger Global War on Terror (GWOT) strategy, the ultimate security goal in Afghanistan must be for the Afghans to assume ownership of the counterinsurgency struggle...
Wyse, W.H.; Newton, J.C.
There is common drive throughout industry towards reduced costs of ownership of plant and equipment. Rolls-Royce and Associates Ltd. has developed the systems and expertise necessary to achieve these objectives. This Paper outlines the methods being used on existing facilities, and describes a new all embracing process called Planned Lifetime Management. This process, based on the military standard Integrated Logistic Support, ensures that all aspects of support are clearly identified at the design stage and that support is monitored to allow through-life support costs to be optimized. (author)
Altenburg, Tilman; Engelmeier, Tobias
In order to avoid irreversible damage to global ecosystems, new ‘green’ technologies are needed, some of which are nowhere near commercial maturity. In these cases, governments may create temporary rents to make investments ‘artificially’ attractive, but the creation of such rents involves risks of faulty allocation and political capture. This article first highlights the importance of managing rents effectively in promoting ‘green’ technologies; it then shows how India's National Solar Mission has been remarkably effective in triggering solar investments and managing the necessary subsidies, e.g. through a process of competitive reverse bidding for tariffs. Policy design and implementation also reflect considerable experimentation and learning. Some risks remain, especially regarding the enforceability of renewable energy quotas at the level of Indian states. - Highlights: • India's National Solar Mission effectively triggered solar investments. • Reverse bidding substantially decreased policy costs. • Sequenced implementation allowed for policy learning. • India's solar policy is a good example of green rent management
Holmes, J S
This study examines the effects of ownership type and ownership change on nursing home cost structures, differentiating patient care costs from plant costs. Administrative data from the Michigan Department of Social Services, Medical Services Administration (Medicaid), and the Michigan Department of Public Health are used. Cost data are based on audited cost reports for 393 nursing care facilities in Michigan in 1989. Other facility characteristics are based on data from the 1989 annual licensing and certification survey conducted by the Michigan Department of Public Health. A series of ordinary least squares regressions is estimated, in which the dependent variable is either per diem patient costs or per diem plant costs. Ownership types are defined as chain, proprietary non-chain, freestanding non-profit, government-owned, and hospital-based facilities. Pooled estimation techniques, as well as separate regressions by ownership type, are presented to test for interaction effects. Key variables include whether a facility changed ownership in the preceding five years and whether chain facilities are in-state- or out-of-state-owned, in addition to size, payer mix, and case mix. Behavioral differences among nursing home ownership types in respect to patient care costs tended to distinguish government-owned and hospital-based facilities from the freestanding homes rather than the usual distinction between for-profit and not-for-profit classes. Variables traditionally included in nursing home cost studies, such as size, occupancy, payer mix and case mix, were found to have similar effects on per diem patient care costs for freestanding non-profit homes as well as for chain proprietary facilities. With regard to the effects of ownership change on per diem plant and per diem patient costs, however, there are few differences among ownership types. Chain and non-chain for-profit facilities, non-profit homes, and hospital long-term care units that had changed ownership
Full Text Available This paper presents the results of research on the application of neural networks modelling of municipal real estate market rent rates. The test procedure was based on selected networks trained on the local real estate market data and transformation of the detected dependencies – through established models – to estimate the potential market rent rates of municipal premises. On this basis, the assessment of the adequacy of the actual market rent rates of municipal properties was made. Empirical research was conducted on the local real estate market of the city of Olsztyn in Poland. In order to describe the phenomenon of market rent rates formation an unidirectional three-layer network and a network of radial base was selected. Analyses showed a relatively low degree of convergence of the actual municipal rent rents with potential market rent rates. This degree was strongly varied depending on the type of business ran on the property and its’ social and economic impact. The applied research methodology and the obtained results can be used in order to rationalize municipal property management, including the activation of rental policy.
The aim of this thesis is to create a business plan focused on the rent of the house which might be built in Ostrava-Vitkovice. It analyses 2 renting possibilities-flats for senior residents or rooms for tourists. The aim of the work is to find out if it makes sense to built that house. The work compares both renting options and evaluate the most viable and effective one. In the introduction there are described methodics which are used and discussed subsequently in the practical part. In the ...
Amundsen, E.S.; Tjoetta, Sigve
Norway is about to reorganize its electricity production sector from a predominantly administered one to one which is based on market prices and principles of efficiency. The objective of this paper is to model the energy sector and to measure the size of hydro rent before and after the reorganization. We construct a regionally diversified and integrated equilibrium model of production, transmission and distribution of hydroelectricity. Particular attention is paid to the role of precipitation variability for the size and regional variation of hydro rent. We consider alternative routes for assessing the size of hydro rent in a long-run perspective. (author)
Monuteaux, Michael C; Lee, Lois K; Hemenway, David; Mannix, Rebekah; Fleegler, Eric W
Although some view the ownership of firearms as a deterrent to crime, the relationship between population-level firearm ownership rates and violent criminal perpetration is unclear. The purpose of this study is to test the association between state-level firearm ownership and violent crime. State-level rates of household firearm ownership and annual rates of criminal acts from 2001, 2002, and 2004 were analyzed in 2014. Firearm ownership rates were taken from a national survey and crime data were taken from the Federal Bureau of Investigation Uniform Crime Reports. Rates of criminal behavior were estimated as a function of household gun ownership using negative binomial regression models, controlling for several demographic factors. Higher levels of firearm ownership were associated with higher levels of firearm assault and firearm robbery. There was also a significant association between firearm ownership and firearm homicide, as well as overall homicide. The findings do not support the hypothesis that higher population firearm ownership rates reduce firearm-associated criminal perpetration. On the contrary, evidence shows that states with higher levels of firearm ownership have an increased risk for violent crimes perpetrated with a firearm. Public health stakeholders should consider the outcomes associated with private firearm ownership. Copyright © 2015 American Journal of Preventive Medicine. Published by Elsevier Inc. All rights reserved.
Leach, James A.
Topics discussed include integrating small business ownership with existing programs; establishing awareness, exploration, and orientation activities; and preparation for small business ownership. A curriculum guide developed for teaching small business ownership and management is also described. (TA)
Iuliana Oana MIHAI
Full Text Available The purpose of this article is to review the results of research papers conducted in the area of foreign ownership impact on company’s performance and to highlight the specifics of this linkage in the environment of transition economies. Several authors have documented greater efficiency of private companies compared to state-owned. According to different studies, an alternative option for transition economies is foreign ownership. Recent studies show that the effect of ownership forms on companies and financial performance is more significant in Eastern European countries compared to developed countries. However, study results are often contradictory, therefore they require additional research.
policies thrive again, this time disguised in terms such as ‘empowerment’, but just as politicised as in the 1970s. Zambia is at the heart of this development. In the light of liberalisation, booming commodity prices and the increasing importance of Chinese investors, this article seeks to further our...... understanding of how processes of exclusion interact with domestic politics in Zambia. It argues that the Citizens Economic Empowerment Commission, a new institution to bring ownership back to Zambians, builds on a long tradition of nationalist policies in Zambia, while its actual work is strictly related...... to the critique of the growing foreign dominance over the economy, and in particular of the upsurge in Chinese investments....
Stevenson, David G; Bramson, Jeffrey S; Grabowski, David C
The role of ownership in the provision of nursing home care has long been a challenging issue for policy makers and researchers. Although much of the focus historically has been on differences between for-profit and not-for-profit facilities, this simple distinction has become less useful in recent years as companies have employed more complicated ownership and management structures. Using detailed ownership data from the state of Texas, we describe the evolution of nursing home corporate structures from 2000 to 2007, analyze the effect of these structures on quality of care and staffing in nursing homes, and discuss the policy implications of these changes.
Rosenbaum, Janet E
The 2011 attempted assassination of a US representative renewed the national gun control debate. Gun advocates claim mass-casualty events are mitigated and deterred with three policies: (a) permissive gun laws, (b) widespread gun ownership, (c) and encouragement of armed civilians who can intercept shooters. They cite Switzerland and Israel as exemplars. We evaluate these claims with analysis of International Crime Victimization Survey (ICVS) data and translation of laws and original source material. Swiss and Israeli laws limit firearm ownership and require permit renewal one to four times annually. ICVS analysis finds the United States has more firearms per capita and per household than either country. Switzerland and Israel curtail off-duty soldiers' firearm access to prevent firearm deaths. Suicide among soldiers decreased by 40 per cent after the Israeli army's 2006 reforms. Compared with the United States, Switzerland and Israel have lower gun ownership and stricter gun laws, and their policies discourage personal gun ownership.
... 202 SUPPORTIVE HOUSING FOR THE ELDERLY PROGRAM AND SECTION 811 SUPPORTIVE HOUSING FOR PERSONS WITH... and do not exceed 120 percent of the most recently published Section 8 Fair Market Rents for Existing...
Hotopp, Henning; Mußhoff, Oliver
Risk management is gaining importance in agriculture. In addition to traditional instruments, new risk management instruments are increasingly being proposed. These proposals include the rent adjustment clauses (RACs), which seem to be an unusual instrument at first sight. In contrast with conventional instruments, RACs intentionally allow fixed-cost â€˜rent paymentsâ€™ to fluctuate. We investigate the whole-farm risk reduction potential of different types of RACs via a historical simulation....
Sabatini, Fabio; Sarracino, Francesco; Yamamura, Eiji
Empirical studies have shown that preferences for redistribution are sig- nificantly correlated with expectations of future mobility and the belief that society offers equal opportunities. We add to previous research by inves- tigating the role of individual and social norms on rent seeking. We find that the individual propensity for stigmatizing rent seeking significantly and positively affects preferences for redistribution. On the other hand, living in an area where most citizens do not st...
This thesis focuses on the industry wage differentials, rent-sharing and the gender wage gap. I empirically investigate: i) the interaction between inter-industry wage differentials and the gender wage gap in six European countries, ii) how rent sharing interacts with the gender wage gap in the Belgian private sector and iii) the existence of inter-industry wage differentials in Belgium, through the unobserved ability hypothesis.The first chapter is devoted to the analysis of the interaction ...
Full Text Available There has been an extensive body of literature studying the link between ownership structure and firm performance. Some of them focus on the performance difference across ownership types (i.e. state vs foreign vs private domestic. On the other hand, some studies stress ownership structure on the fraction of ownership based on agency theory (i.e. majority versus minority and its derivatives (e.g. ultimate ownership, cross listing. However, an important element has not been explored while discussing ownership structure of firms which is the concept of publicness of firms. Publicness is important to explain to which extent an organization is related with governmental institutions. In fact, there are many engagements of firms with governmental bodies (e.g. deposit and lending from and to public organization. In this present paper, I provide a comprehensive literature review on the intersection between publicness level of firms and ownership structure. Going deeper, I also provide a literature review on the measurement of publicness and postulate a model to link between these two and firm performance as a venue for future studies.
Ece H. Guleryuz
Full Text Available This paper examines the primary determinants of the contemporary economic growth performance in MENA and African countries using a panel data estimation and random effects model during the period 1996-2014 for 24 countries. It is hypothesized that the variation in natural resources rents, initial human capital stock, and initial inequality in land ownership have significant impacts on contemporary economic growth rates in different countries. Furthermore, various political economy factors are controlled for in order to measure the effect of institutional quality. The estimation results show that the natural resources rents, initial inequality in land ownership, initial income, and government effectiveness influence GDP per capita growth rates with a statistical significance.
Department of Housing and Urban Development — This dataset and map service provides information on Fair Market Rents (FMRs). FMRs are primarily used to determine payment standard amounts for the Housing Choice...
... without receiving fair market value rent? 18.5 Section 18.5 Parks, Forests, and Public Property NATIONAL... leased without receiving fair market value rent? Property may be leased under this part only if the lease requires payment of rent to the government equal to or higher than the property's fair market value rent...
Hagen, Kaare P.; Kind, Hans Jarle; Sannarnes, Jan Gaute
This paper addresses the issue of national optimal tariffs for transportation of natural gas in a setting where national gas production in its entirety is exported to end-user markets abroad. In a situation where the transportation network is owned altogether by a vertically integrated national gas producer, it is shown that the optimal tariff depends on the ownership structure in the integrated transportation company as well as in the non-facility based gas company. There are two reasons why it is possibly optimal with a mark-up on marginal transportation costs. First, there is a premium on public revenue if domestic taxation is distorting. Second, with incomplete national taxation of rents from the gas sector, the transportation tariffs can serve as a second best way of appropriating rents accruing to foreigners. In a situation where the network is run as a separate entity subject to a rate of return regulation, it will be optimal to discriminate the tariffs between shippers for the usual Ramseyean reasons. (Author)
Keppler, Jan Horst; Cruciani, Michel
The European Union Emissions Trading Scheme (EU ETS) has imposed a price on the allowances for CO 2 emissions of electricity companies. Integrating this allowance price into the price of electricity earns a rent for companies who have received these allowances for free. During Phase I, 2005-2007, rents corresponding to the aggregate value of allocated allowances amounted to roughly EUR 13 billion per year. However, due to the specific price-setting mechanism in electricity markets true rents were considerably higher. This is due to the fact that companies also that have not received any allowances gain additional infra-marginal rents to the extent that their variable costs are below the new market price after inclusion of the allowance price. Producers with low carbon emissions and low marginal costs thus also benefit substantially from carbon pricing. This paper develops a methodology to determine the specific interaction of the imposition of such a CO 2 constraint and the price-setting mechanism in the electricity sector under the assumption of marginal cost pricing in a liberalized European electricity market. The article thus provides an empirical estimate of the true total rents of power producers during Phase I of the EU-ETS (2005-2007). The EU ETS generated in Phase I additional rents in excess of EUR 19 billion per year for electricity producers. These transfers are distributed very unevenly between different electricity producers. In a second step, the paper assesses the impact of switching from free allocation to an auctioning of allowances in 2013. We show that such a switch to auctioning will continue to create additional infra-marginal rents for certain producers and will leave the electricity sector as a whole better off than before the introduction of the EU ETS. (author)
Do, Young Kyung; Kim, Cheong-Seok
Many of the previously identified environmental risk factors for fall-related outcomes (e.g. flooring, stairs and steps, kitchen, and bathrooms) are amenable to change, but the extent of the changes on these home-related risk factors are conditional on home ownership of the elderly. This study aims to test whether lack of home ownership is associated with a higher risk of falls, and a higher likelihood of reporting fear of falling and activity limitations due to fear of falling among older adults in South Korea. Using data from the first two waves (2006 and 2008) of the Korean Longitudinal Study of Aging, the associations between home ownership variables and three fall-related outcomes were examined in two regression models. A logistic regression model of any falls in the past 2 years was estimated to examine whether older adults living in short-term rental homes based on monthly rent have an increased risk of falls. A probit model accounting for sample selection was estimated to examine whether the two related outcomes, fear of falling and limiting activities due to fear of falling, are associated with home ownership status. Compared with owned home, short-term rental home predicted a higher likelihood of incident of falls and activity limitation due to fear of falling. The study findings suggest that the lack of home ownership with unstable housing tenure is an important risk factor for fall-related outcomes among older adults in South Korea. © 2012 Japan Geriatrics Society.
This paper analyses issues in resource rent through a case study of the Canadian coal industry. A model of the coal industry is constructed to estimate the magnitude of rent and distribution of coal rent between government and industry over the 30-year period from 1970 to 2000. Disaggregation of results by coal sector shows that rent varied widely, with one sector generating substantial rent and other sectors incurring large losses. The pattern of development of the coal sector followed what can be termed a 'rent dissipation cycle' in which the generation of rent in the profitable sector created excessively optimistic expectations that encouraged new entrants to dissipate rent by developing uneconomic capacity. The analysis also shows that the system used to collect rent was ineffective. The public owner collected only one-third of the rent on the profitable mines and collected royalty revenue from the unprofitable mines even though no rent was generated. The case study illustrates that improvements in private sector planning based on a better appreciation of resource market fundamentals, elimination of government subsidies that encourage uneconomic expansion and more effective rent collection are all needed to avoid rent dissipation and increase the benefits of energy development in producing jurisdictions. The study also illustrates that estimates of rent in the resource sector should disaggregate results by sector and make adjustments for market imperfections to accurately assess the magnitude of potential rent
In 1994, when the software maker Knowledge Adventure decided to spin out a new venture--Worlds, Incorporated--founder Bill Gross expected the worst. He had argued with the board that it was in KA's best interests to maintain a controlling ownership stake in Worlds, whose powerful new software technology had enormous revenue potential. But the board prevailed, and KA took only a 20% ownership in the new company, giving the rest to Worlds' employees. Within a year, the company's performance had surpassed all expectations, and instead of owning 80% of a $5 million business, KA owned 20% of a $77 million business. The arithmetic may have been counterintuitive, but the lesson was clear. When KA let go of Worlds and gave its employees near total ownership, the company unleashed a new level of employee performance. That, in turn, led to the creation of economic value that more than made up for the equity KA had surrendered. So compelling was this "new math of ownership" that Gross founded a new company, Idealab, on this principle. The company, which develops ideas for Internet-based businesses and seeds the most promising ones, takes no more than a 49% equity stake in the new ventures and gives at least 1% of ownership to each employee. For Gross, this radical approach to ownership is the key to inspiring stellar performances. In part, employee-owners are motivated by their potential to earn great financial reward. But the drama of ownership, he argues, is even more important. In that drama, employees become personally involved in the struggle to outdo the competition and emerge victorious.
Dennis Davis; Raphael Kaplinsky; Mike Morris
This paper addresses the generation of rents and the distribution of gains in the global operations of governed Global Value Chains (GVCs) and seeks to provide an architecture for analyzing the governance of GVCs. It distinguishes between four sets of rent—gifts of nature; innovation rents; exogenously defined rents; and market power—and three spheres of governance—setting the rules -“legislative governance”; implementing the rules -“executive governance”; and mo...
Garcia, David O; Lander, Eric M; Wertheim, Betsy C; Manson, JoAnn E; Volpe, Stella L; Chlebowski, Rowan T; Stefanick, Marcia L; Lessin, Lawrence S; Kuller, Lewis H; Thomson, Cynthia A
Pet ownership and cancer are both highly prevalent in the United States. Evidence suggests that associations may exist between this potentially modifiable factor and cancer prevention, though studies are sparse. The present report examined whether pet ownership (dog, cat, or bird) is associated with lower risk for total cancer and site-specific obesity-related cancers. This was a prospective analysis of 123,560 participants (20,981 dog owners; 19,288 cat owners; 1,338 bird owners; and 81,953 non-pet owners) enrolled in the Women's Health Initiative observational study and clinical trials. Cox proportional hazards models were used to estimate HR and 95% confidence intervals for the association between pet ownership and cancer, adjusted for potential confounders. There were no significant relationships between ownership of a dog, cat, or bird and incidence of cancer overall. When site-specific cancers were examined, no associations were observed after adjustment for multiple comparisons. Pet ownership had no association with overall cancer incidence. This is the first large epidemiologic study to date to explore relationships between pet ownership and cancer risk, as well as associated risks for individual cancer types. This study requires replication in other sizable, diverse cohorts. Cancer Epidemiol Biomarkers Prev; 25(9); 1311-6. ©2016 AACR. ©2016 American Association for Cancer Research.
Full Text Available This paper explores the dynamics of security sector reform (SSR, a term used to refer to efforts made to reform the security structures of states emerging from conflict or authoritarianism. While "local ownership" is increasingly viewed as a necessary element of any sustainable SSR strategy, there remains a significant gap between international policy and practice in this area. In practice, the SSR agenda continues to be driven largely by international actors, with minimal input, let alone ownership, on the part of either governments or civil society within reforming states. Indeed, the notion of local ownership has come to serve as much as a disciplining mechanism as a tool to overcome exclusion in the making and execution of security policy, and the effectiveness and sustainability of SSR programming have suffered as a result. In light of this, the paper will explore both the potential for, and the limits of, rehabilitating the notion of local ownership to enable more participatory forms of SSR, and argues that any practical local ownership strategy requires a dual policy of negotiating with state actors and engaging with non-state actors.
A.A. Gde Putra Pemayun
Full Text Available This present study was intended to analyze the Life Style of the Rented Land Owners at Ubud Subdistrict. The problems of the study are formulated as follows: (1 what is the characteristic of the rented land owners at Ubud Subdistrict like? (2 How has the process of life style of the rented land owners at Ubud Subdistrict taken place? And (3 what is the implication of the life style of the rented land owners on their lives? Qualitative method was employed in the study. The data were processed using observation, interview and documentary techniques. The workability of the law regulating the demand for land at Ubud Subdistrict motivated the land owners to rent out their land to investors. Apart from that, the internal dimension, which is made up of the economical capital, was the most important element as it could activate small, medium and big enterprises. Another aspect was image which was reflected through perception, cognition, motivation, and attitude of individuals as consumers. As an illustration, they built luxurious houses and showed off luxurious cars to show the image that they were new wealthy people. On the other hand, there was external dimension, namely, the highly rapid development of tourism, which could positively and negatively contribute to the life style of the people living at Ubud Subdistrict. Such an implication could not be avoided. The other aspect was consumerism; the consumers were around the symbol and sign. Mass media were the miracles of the object liturgy; pleasure was defined as the realization of freedom, and the human body was the main object of consumers. The last aspect was the government’s policy which determined that Ubud Subdistrict was a tourist destination. As a result, the local people had the opportunity to rent out their land which was used to expand the industry of tourism and to activate the other economic enterprises.
This is an article based doctoral dissertation. Due to copyright matters, the attached pdf file only contains the mantel. This Thesis contributes to the literature on corporate governance in international business, with a focus on corporate ownership, corporate finance and institutions. It consists of five theoretical and empirical studies. Three studies focus on corporate ownership and consider, respectively, whether state ownership shields multinational enterprises (MNEs) from host-c...
Engsted, Tom; Pedersen, Thomas Quistgaard
We investigate the predictive power of the rent-to-price ratio for future real estate returns and rent growth in 18 OECD countries over the period 1970 to 2011. First, we document that in most countries returns are signi…cantly predictable by the rent-price ratio. An increase (decrease...... dependent on whether returns and rents are measured in nominal or real terms. Finally, there is some evidence of sub-sample instability in the predictive patterns, especially wrt. rent growth predictability. The predictability tests are conducted within a restricted VAR framework based on the dynamic Gordon...
Ropenus, Stephanie; Schröder, Sascha Thorsten; Costa, Ana
, Denmark, France and Portugal. Another crucial aspect for the diffusion of the mCHP technology is possible ownership structures. These may range from full consumer ownership to ownership by utilities and energy service companies, which is discussed in Section 6. Finally, a conclusion (Section 7) wraps up......In recent years, fuel cell based micro‐combined heat and power has received increasing attention due to its potential contribution to energy savings, efficiency gains, customer proximity and flexibility in operation and capacity size. The FC4Home project assesses technical and economic aspects...... of support scheme simultaneously affects risk and technological development, which is the focus of Section 4. Subsequent to this conceptual overview, Section 5 takes a glance at the national application of support schemes for mCHP in practice, notably in the three country cases of the FC4Home project...
Industrial foundations are self-governing non profit institutions that own business companies. This ownership structure is found in a fair number of Northern European companies, some of them successful world class competitors. Standard agency theory would predict foundation-owned companies...... to be relatively inefficient since they lack monitoring by residual claimants and access to equity finance from the stock market. Nevertheless, empirical research (Thomsen 1996) has found that Danish foundation-owned companies do no worse in terms of profitability and growth than companies with dispersed ownership...
Strandskov, Jesper; Madsen, Tage Koed; Pedersen, Bent
The paper develops an integrative ownership-internationalization model that explores the influences of various owner types (i.e. investor-owned firms, family-owned firms, employee-owned firms, cooperative–owned firms, and state-owned firms) on firm internationalization. Based on a comparative...... analysis of the various owner types, we discuss how each owner group’s main objectives, risk behavior and provision of resources influence their internationalization strategies and decisions (i.e. scale, scope and speed decisions)....
Ilmunud ka: Delovõje Vedomosti 21. sept. lk. 12. Tootmis- ja laopindade rent Baltimaades ja Soomes. Vt. samas: Tallinnas lao- ning tootmispinnad poolaastaga kallinenud kuni 37%; Helsingis on kõige rohkem tõusnud C-kvaliteediklassi pinnad; Tartu piirkonnas enamik saadaolevaid pindu keskmises või halvas seisukorras
Lennartz, C.; Haffner, M.E.A.; Oxley, M.J.
When policy makers claim that rented housing has to become more competitive, there is no consensus on what competition in this context actually means. The same holds true for scientific housing research: Theories that have utilized the economic concept of competition tend to rely on implicit
We consider a two-stage model of a Tullock rent-seeking contest where one new potential entrant makes his appearance. In the first stage each other player can contribute to bribe this new player to commit not to enter the contest. In the second stage we have the actual contest either with or without
Bue Bjørner, Thomas; Leth-Petersen, Søren
Using a large household panel we estimate demand for car ownership by means of a dynamic multinomial model with correlated random effects. Results suggest that the persistence in car ownership observed in the data should be attributed to both true state dependence and to unobserved heterogeneity...... (random effects). It also appears that random effects related to single and multiple car ownership are correlated, suggesting that the IIA assumption employed in simple multinomial models of car ownership is invalid. Relatively small elasticities with respect to income and car costs are estimated...
Current Australian government business and economic policies as they affect the mining industry are discussed. The distribution of constitutional and taxing powers in Australia between state and commonwealth governments and possible inappropriate taxes and other policies can have an adverse effect on resource development. The effects of these policies on both coal and uranium mining are discussed
California Natural Resource Agency — California Spatial Information System (CaSIL) is a project designed to improve access to geo-spatial and geo-spatial related data information throughout the state of...
Locatelli, C.; Finon, D.
Privatisation is at the heart of the structural reforms for economies in transition. In theory, the main aim of privatisation is to change the structures of corporate governance in order to improve the efficiency of the enterprises and to assure their long-term future in a competitive environment. The adoption of formal market institutions would be sufficient to secure the new property rights, in particular because the new holders of the rights to control assets would have a great incentive to encourage the definition of new judicial rules that would guarantee their rights of ownership. In Russia that did not happen. The paper discusses the narrowed vision of institutional change, without consideration of the previous environment of formal and informal institutions, and the need to put together the institutional infrastructure that is needed for the market institutions to function. It offers explanations of the 'unexpected' results of the reforms in a capital-intensive natural resource industry, namely the hydrocarbons industry characterized by the opportunity of rent extraction by the exportation. It demonstrates right holders' interest for the weakness of the 'rule of law'. It demonstrates that the incompatibility of these institutions with the initial informal and formal institutions has led to adaptations that are strongly path-dependent, under the need to preserve a minimum of inter-industrial coherence. (authors)
Locatelli, C.; Finon, D
Privatisation is at the heart of the structural reforms for economies in transition. In theory, the main aim of privatisation is to change the structures of corporate governance in order to improve the efficiency of the enterprises and to assure their long-term future in a competitive environment. The adoption of formal market institutions would be sufficient to secure the new property rights, in particular because the new holders of the rights to control assets would have a great incentive to encourage the definition of new judicial rules that would guarantee their rights of ownership. In Russia that did not happen. The paper discusses the narrowed vision of institutional change, without consideration of the previous environment of formal and informal institutions, and the need to put together the institutional infrastructure that is needed for the market institutions to function. It offers explanations of the 'unexpected' results of the reforms in a capital-intensive natural resource industry, namely the hydrocarbons industry characterized by the opportunity of rent extraction by the exportation. It demonstrates right holders' interest for the weakness of the 'rule of law'. It demonstrates that the incompatibility of these institutions with the initial informal and formal institutions has led to adaptations that are strongly path-dependent, under the need to preserve a minimum of inter-industrial coherence. (authors)
Biewick, L.H.; Mercier, T.J.; Levitt, Pam; Deikman, Doug; Vlahos, Bob
This Arc/Info coverage contains land status and Federal mineral ownership for approximately 26,800 square miles in northwestern Colorado. The polygon coverage (which is also provided here as a shapefile) contains two attributes of ownership information for each polygon. One attribute indicates where the surface is State owned, privately owned, or, if Federally owned, which Federal agency manages the land surface. The other attribute indicates which minerals, if any, are owned by the Federal govenment. This coverage is based on land status and Federal mineral ownership data compiled by the U.S. Geological Survey (USGS) and three Colorado State Bureau of Land Management (BLM) former district offices at a scale of 1:24,000. This coverage was compiled primarily to serve the USGS National Oil and Gas Resource Assessment Project in the Uinta-Piceance Basin Province and the USGS National Coal Resource Assessment Project in the Colorado Plateau.
Cawood, F.T.; Minnitt, R.C.A. [Technikon SA, Florida (South Africa). Dept. of Engineering
Inauguration of the new political dispensation in South Africa, initiated a dynamic period in the historical development of its minerals policy. The process of substituting the current South African mineral policy framework with an acceptable `post apartheid` system, started soon after the 1994 election of the African National Congress (ANC) government. The Green Paper on a Minerals and Mining Policy for South Africa released for public discussion in February 1998, calls for radical transformation in mineral rights ownership. A shift towards exclusive state ownership of mineral rights, away from the present dual system of private and state ownership, is the most significant proposal. The current holders of mineral rights, or their nominees, who lawfully enjoyed security of tenure under past and present mineral laws are opposed to this transformation because mineral rights were often acquired at considerable cost. The situation is compounded by poor public record-keeping and passive mineral rights administration over a very long period. This paper represents a summary of the historical developments leading to the current legislative environment and forms the basis for any discussion on which future sculpturing of South Africa`s policy regarding mineral rights can take place. One cannot plan for the future without considering the past. 21 refs.
Relationship between bank ownership concentration on capital adequacy, liquidity, ... In this study we explore the effects of ownership concentration on the ... are material factors in explaining banks' behavior and their market performance.
Moore, John W.
As teachers of chemistry, we deal with information, knowledge, and, if we are fortunate, even wisdom. An important part of what we do involves giving students access to information and devising better ways to help them assimilate it. Beyond that, we can help them gain knowledge and understanding. Ultimately we hope that the knowledge they gain will help them to make wise choices about their own and society's collective futures. We often view ourselves as altruistic providers of information, but of course our students do pay tuition fees and thereby at least part of our salaries. In that sense we can think of ourselves as involved in an information industry. We provide what has come to be called intellectual property in return for a salary from a school, college, or university that in turn has collected fees from those who value that intellectual property. Those of us who write books or create multimedia materials are even more closely allied with the information industry. Computers and the Internet have produced a quantum jump in the ease of dissemination, reception, and reproduction of large quantities of information. That has stimulated reexamination of conventional thinking about intellectual property, making copyrights, patents, and trademarks a red-hot area for lawyers. Insofar as we teachers are disseminators of intellectual property, we are going to be affected by the changes that will certainly happen in the laws, customs, and ethics that apply to ownership of information and of the means by which it is exchanged among members of our society. In other words, we need to pay attention to the current ferment regarding intellectual property, doing our best to ensure that the decisions made do not prevent us from teaching in the best ways we know. Available options, all of which have vocal proponents, range from complete freedom of copying and disseminating information through a level of control in which essentially every bit or byte delivered carries with it a
Michie, Jonathan; Oughton, Christine; Bennion, Yvonne
The relationship between employee ownership, motivation, and productivity was explored. The main data collection activities were as follows: (1) a literature review; (2) interviews with management and employees from 10 selected companies across the United Kingdom; (3) surveys of ICOM (the federation of worker cooperatives) member companies and…
Matchock, Robert L
Pet ownership and brief human-animal interactions can serve as a form of social support and convey a host of beneficial psychological and physiological health benefits. This article critically examines recent relevant literature on the pet-health connection. Cross-sectional studies indicate correlations between pet ownership and numerous aspects of positive health outcomes, including improvements on cardiovascular measures and decreases in loneliness. Quasi-experimental studies and better controlled experimental studies corroborate these associations and suggest that owning and/or interacting with a pet may be causally related to some positive health outcomes. The value of pet ownership and animal-assisted therapy (AAT), as a nonpharmacological treatment modality, augmentation to traditional treatment, and healthy preventive behavior (in the case of pet ownership), is starting to be realized. However, more investigations that employ randomized controlled trials with larger sample sizes and investigations that more closely examine the underlying mechanism of the pet-health effect, such as oxytocin, are needed.
to be relatively inefficient since they lack monitoring by residual claimants and access to equity finance from the stock market. Nevertheless, empirical research (Thomsen 1996) has found that Danish foundation-owned companies do no worse in terms of profitability and growth than companies with dispersed ownership...
... the Housing Choice Voucher Program for Small Area Fair Market Rent Demonstration Program Participants... Authorities (PHAs) participating in the Small Area FMR Demonstration. SUMMARY: Section 8(c)(1) of the United... Housing Choice Voucher (HCV) Program for those PHAs selected to participate in the Small Area FMR...
..., DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SECTION 8 TENANT BASED ASSISTANCE: HOUSING CHOICE VOUCHER PROGRAM Rent and Housing Assistance Payment § 982.520 Regular tenancy: Special adjustment of rent to owner. (a...
Department of Housing and Urban Development — Fair Market Rents (FMRs) are primarily used to determine payment standard amounts for the Housing Choice Voucher program, to determine initial renewal rents for some...
Norberg, Per; Juul-Sandberg, Jakob
In the Nordic EU member states legislation on landlord’s and tenant’s rights is defined from a socio-economic aspect. The three countries share a common legal »core« which originates from common contract law principles. Tenancy law regulation is different in major areas – especially rent regulation....... In other areas the regulation is quite alike and the results are most often a result of trying to keep the balance between the tenant’s rights to dispose over a home contrary to the landlord’s rights as a property owner. This paper will explore some different aspects of tenancy law regulation – especially...
SunEae Chun; MinHwan Lee
We examine the relationship between ownership structure and corporate risk-taking in Japan over the sample periods of 2000 2010. Reflecting the ongoing changes in the ownership structure in Japan, we incorporate the various kinds of insider and outsider ownership in the analysis. Ownership such as concentrated ownership, ownership by closely related parties, financial institutions comprising banks and insurance companies and managers are categorized into inside ownership, while ownership by f...
Full Text Available Local ownership is widely considered to be one of the core principles of successful Security Sector Reform (SSR programmes. Nonetheless, there remains a gap between policy and practice. This article examines reasons for this gap, including concerns regarding limited capacity and lack of expertise, time and cost constraints, the allure of quantifiable results and quick wins, and the need to ensure that other principles inherent to SSR are not disregarded. In analysing what is meant by local ownership, this article will also argue that, in practice, the concept is narrowly interpreted both in terms of how SSR programmes are controlled and the extent to which those at the level of the community are actively engaged. This is despite policy guidance underscoring the importance of SSR programmes being inclusive and local ownership being meaningful. It will be argued that without ensuring meaningful and inclusive local ownership of SSR programmes, state security and justice sector institutions will not be accountable or responsive to the needs of the people and will, therefore, lack public trust and confidence. The relationship between the state and its people will be weak and people will feel divorced from the decisions that affect their security and their futures. All this will leave the state prone to further outbreaks of conflict. This article will suggest that the requisite public confidence and trust in state security and justice sector institutions, and ultimately, the state itself, could be promoted by SSR programmes incorporating community safety structures.
van Maanen, H.; Berghout, E.W.
Controlling costs is an essential part of a value driven information technology (IT) management. This paper gives a state of the art overview of IT cost management practice. Both theoretical and an empirical approach are taken. The theoretical approach is based on both general accounting literature
Geier, David A; Kern, Janet K; Geier, Mark R
Firearms have a longstanding tradition in the United States (US) and are viewed by many with iconic stature with regards to safety and personal freedom. Unfortunately, from a public health point of view, firearm-related deaths (FRDs) in the US have reached a crisis point with an estimated > 31,000 deaths and 74,000 nonfatal injuries resulting from firearms each year. This longitudinal ecological study analyzed variations in FRDs following firearm assaults (FAs) and law enforcement incidents involving a firearm (LEIF) in comparison to variations in household firearm ownership (HFO) among different geographic and demographic groups in the US from 1999 to 2014. The Underlying Cause of Death database was examined on the CDC Wonder online interface. Records coded with ICD-10 codes: FA (X93 - assault by handgun discharge, X94 - assault by rifle, shotgun, and larger firearm discharge, or X95 - assault by other and unspecified firearm discharge) and LEIF (Y35.0) were examined, and the prevalence of HFO was determined using the well-established proxy of the percentage of suicides committed with a firearm. Gender, ethnicity, Census Division, and urbanization significantly impacted the death rates from FA and LEIF. Significant direct correlations between variations in HFO and death rates from FAs and LEIF were observed. Understanding the significant impacts of gender, race, Census Division, and urbanization status may help shape future public health policy to promote increased firearm safety.
David A. Geier
Full Text Available Firearms have a longstanding tradition in the United States (US and are viewed by many with iconic stature with regards to safety and personal freedom. Unfortunately, from a public health point of view, firearm-related deaths (FRDs in the US have reached a crisis point with an estimated >31,000 deaths and 74,000 nonfatal injuries resulting from firearms each year. This longitudinal ecological study analyzed variations in FRDs following firearm assaults (FAs and law enforcement incidents involving a firearm (LEIF in comparison to variations in household firearm ownership (HFO among different geographic and demographic groups in the US from 1999 to 2014. The Underlying Cause of Death database was examined on the CDC Wonder online interface. Records coded with ICD-10 codes: FA (X93 – assault by handgun discharge, X94 – assault by rifle, shotgun, and larger firearm discharge, or X95 – assault by other and unspecified firearm discharge and LEIF (Y35.0 were examined, and the prevalence of HFO was determined using the well-established proxy of the percentage of suicides committed with a firearm. Gender, ethnicity, Census Division, and urbanization significantly impacted the death rates from FA and LEIF. Significant direct correlations between variations in HFO and death rates from FAs and LEIF were observed. Understanding the significant impacts of gender, race, Census Division, and urbanization status may help shape future public health policy to promote increased firearm safety.
Keyhani, M; Levesque, M.; Madhok, A.
While strategy theory relies heavily on equilibrium theories of economic rents such as Ricardian and monopoly rents, we do not yet have a comprehensive theory of disequilibrium or entrepreneurial rents. We use cooperative game theory to structure computer simulations of the market process in which
... owned space provided by GSA is based on market appraisals of fully serviced rental values for the..., and security charges are calculated separately and added to the appraised shell Rent to establish the... addition to the shell Rent, the Rent includes amortization of TI allowances used, real estate taxes...
..., DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SECTION 8 TENANT BASED ASSISTANCE: HOUSING CHOICE VOUCHER PROGRAM Rent and Housing Assistance Payment § 982.519 Regular tenancy: Annual adjustment of rent to owner. (a... rent to owner will only be increased for housing assistance payments covering months commencing on the...
Selby, L A; Rhoades, J D; Hewett, J E; Irvin, J A
The concerns of medical and community officials about responsible pet ownership have increased. Before a practical solution can be found for irresponsible ownership and community health problems associated with pet populations, the public's attitudes on issues related to responsible pet ownership must be determined. Such issues include attitudes on dog and cat overpopulation, potential public health problems associated with pet populations, and methods of controlling pet populations and stray animals. Responses to a questionnaire were used to evaluate the attitudes of 910 pet owners and nonowners toward factors comprising responsible pet ownership. The median age of the respondents was 33 years; 414 (45 percent) were men, and 496 (55 percent) were women. At the time of the study, 18 percent owned a cat and a dog, 35 percent owned only a dog, 11 percent showed only a cat, and 36 percent were nonowners. Not only the sex of the respondent but also the category of pet ownership affected opinions on overpopulation of dogs and cats, nuisance and pollution problems associated with these animals, and methods of controlling pet populations in the community. For example, owners agreed strongly on family planning for pets, but a majority of male owners stated that they would not have their dogs neutered. PMID:572978
Full Text Available In October 2009, the United States Treasury Department and Congress considered new regulations requiring executives and directors to receive much of their compensation in the form of long-term stock. One concern with this is that it may have negative consequences by entrenching managers and directors over the long term. This study compares the potential benefits of long-term director ownership with the potential costs of entrenchment. Using the dollar amount of stock owned by independent directors, the results suggest that the incentive effect dominates any costs related to entrenchment: firms with greater stock ownership outperform other firms, regardless of the degree of managerial entrenchment that may be present. The implication for policy-makers is that providing directors with incentives through stock ownership can be a very effective corporate governance mechanism.
Full Text Available Using historical banking data for the United States from the years 2000 to 2015 we characterize the probability and extent of a financial contagion using a calibrated network model of heterogeneous interbank exposures. Both the probability and the average extent of a contagion begin to rise in 2007 prior to the US financial crisis. Including a common asset in the model increases both the probability and extent of contagion, especially during the years of the financial crisis. Based on rising institutional ownership in the banking industry, we introduce a partially overlapping ownership asset that devalues endogenously. The addition of this asset increases the extent of a financial contagion. Our results show that trends in capital buffers and the distribution and type of assets have a significant effect on the predictions of financial network contagion models and that the rising trend in ownership of banks by banks amplifies shocks to the financial system.
Eichmann, Traci L; Santerre, Rexford E
Prior research suggests that Certificate of Need (CON) laws reduce competition in the hospital services industry. As a result, this study empirically investigates if not-for-profit hospital chief executive officers (CEOs) are able to extract rents from CON laws in the form of higher compensation. A sample of 256 not-for-profit hospital CEOs in states with and without CON laws and data for 2007 are used in the empirical analysis. The study considers the endogenous nature of a CON law and allows such a law to indirectly affect CEO compensation through its impact on the number of hospitals and beds. The multiple regression results indicate that special and public interests both motivate the decision of a state to maintain a CON law. CON laws are shown to reduce the number of beds at the typical hospital by 12 percent, on average, and the number of hospitals per 100,000 persons by 48 percent. These reductions ultimately lead urban hospital CEOs in states with CON laws to extract economic rents of $91,000 annually.
... applicable state law. (2) Asset sale. Transfer of all or substantially all of the assets of the sponsor to... consolidation of the sponsor's organization with one or more other corporations, resulting in a new corporate body. (b) Change of ownership; exception. Transfer of corporate stock or the merger of another...
Morris, J.A.; Wilder, R.P.
Finance and ownership alternatives for a nuclear energy center (NEC) in South Carolina are analyzed in the context of the capital market and tax differences among alternatives. The ownership alternatives considered are (1) the private or private/public joint venture, (2) full public ownership and (3) a hybrid ownership form featuring federal involvement in the initial site development and permit phase, followed by a transition to private ownership. Public ownership is associated with considerably lower out-of-pocket costs than private ownership; the difference between the two, however, is related to subsidies from other parts of society to electricity customers of a publicly owned NEC. The attitudes of participating utilities on ownership forms are examined, with the finding of general strong opposition to increased federal involvement in the electric utility industry through NEC ownership. The conclusion is that the private-private/public joint venture is the preferable ownership form and that public ownership should be employed only if the private sector fails to respond to future energy demand
Full Text Available Tourism is extremely interacted with the environment. Taking into account that tourism uses the space and related resources, it seems right to pay for the damages caused to the environment. This is the basis of the tourist spatial eco rent. The paper evaluates the space and resources used by tourism as the basis for the introduction of the tourism eco-rent in the area of Makarska Riviera, a traditional tourism destination. It is divided into three main spatial units: urban areas, bathing zone (beaches, Biokovo Park of Nature. According to natural and geographical reasoning, a number of zones with different spatial values within each spatial unit has been identified. Each unit, i.e. zone was evaluated according to various criteria relevant to the evaluation of space for tourism and tourism development purposes. Having ranked zones within each unit, using the multiriteria ranking method PROMETHEE II, comparative analysis of the obtained results was carried out as well.
Jones, Derek C; Kalmi, Panu; Mygind, Niels
In this paper we use rich panel data for a representative sample of Estonian enterprises to analysediverse issues related to the determinants of ownership structures and ownership changes afterprivatisation. A key focus is to determine whether ownership changes are related to economicefficiency....... While employee owned firms are found to be much more prone than other firms toswitch ownership categories, often `employee owned' firms remain `insider-owned' as ownershippasses from current employees to managers and former employees. Logit analyses of thedeterminants of ownership structures...... and ownership changes provides mixed support for severalhypotheses. As predicted: (i) wealth and resource constraints play a crucial role in thedetermination of ownership, with foreigners buying firms with the highest equity levels andinsiders buying firms with the lowest equity valuations; (ii) risk aversion...
Full Text Available This article analyses the development in Serbien tourism sector during the last decade. The article is focused on the ownership structure and company performance in the light of corporate governance theory and the actuel privatisation process. Previous research has proven that Serbien state is a poor and pasive owner,whereas private owners and amployees are more active and more interested in their company’s economic performance. This article shows that the transition to private ownership in the Serbian hotels sector has not been finished. Consequently, state-owned and investment funds remain important owners of Serbien hotels. The financial performance of hotel companies is below average in the economy and can be correlated with the current ownership structure. Since the current ownership structure has a negative impact on the hotel sector competitiveness, an ownership change is needed to boost the sector’s competitivensess and the competitivensess of Serbia as tourist destination.
Glenn Jenkins; RICHARD ZUKER
In this study, an attempt is made to develop estimates of the value of economic rent from production of hydro-electricity. These estimates are made for the year 1979, which is the latest period for which a comprehensive set of data was available at the time this work was undertaken. The estimates are developed for the hydro-electricity generated (or used) by electric utilities in four provinces: Quebec (including Churchill Falls), Ontario, Manitoba and British Columbia. These electric systems...
Full Text Available In the paper we analyse a model for determining the optimal licensing contract in both situations of symmetric and asymmetric information between the license’s owner and the potential buyer. Next we present another way of solving the corresponding adverse selection model, using the informational rents as variables. This approach is different from that of Macho-Stadler and Perez-Castrillo.
Matano, Alessia; Naticchioni, Paolo
In this paper we show that rent sharing plays a role in accounting for the glass ceiling effect. We make use of a unique employer-employee panel database for Italy from 1996 to 2003, which allows controlling for observed individual and firm heterogeneity and for collective bargaining. Moreover, by means of IV quantile fixed effects estimates we can cope with unobserved heterogeneity and endogeneity. We then go on to discuss the possible related explanations.
Ipe, V.C.; Bhagwat, S.B.
Chicago and its suburbs are experiencing an increasing demand for water from a growing population and economy and may experience water scarcity in the near future. The Chicago metropolitan area has nearly depleted its groundwater resources to a point where interstate conflicts with Wisconsin could accompany an increased reliance on those sources. Further, the withdrawals from Lake Michigan is limited by the Supreme Court decree. The growing demand and indications of possible scarcity suggest a need to reexamine the pricing policies and the dynamics of demand. The study analyses the demand for water and develops estimates of scarcity rents for water in Chicago. The price and income elasticities computed at the means are -0.002 and 0.0002 respectively. The estimated scarcity rents ranges from $0.98 to $1.17 per thousand gallons. The results indicate that the current prices do not fully account for the scarcity rents and suggest a current rate with in the range $1.53 to $1.72 per thousand gallons.
The purpose of the present study is to determine the effects of gun control laws and gun ownership rates on state-level suicide rates. Using the most recent data on suicide rates, gun control measures, and gun ownership rates, the results of the present study suggest that states that require handgun permits have lower gun-related suicide rates, and states that have higher gun ownership rates have higher gun-related suicide rates. Regarding non-gun suicides, results suggest that stricter gun c...
as a diffuse resource with low economic value, this categorization may no longer be appropriate, because demand for land is currently on the rise, and may continue to increase in the future. This study presents and discusses recent theoretical and empirical approaches to analyzing the effects of high......-value agricultural land on rent seeking and rent distribution. Results suggest that the potential for small scale farmers to organize and obtain political power determines the extent of rent seeking and rent distribution, and that while more democratic institutions may increase the share of rents going...
Turney, Kristin; Schneider, Daniel
A considerable literature documents the deleterious economic consequences of incarceration. However, little is known about the consequences of incarceration for household assets-a distinct indicator of economic well-being that may be especially valuable to the survival of low-income families-or about the spillover economic consequences of incarceration for families. In this article, we use longitudinal data from the Fragile Families and Child Wellbeing Study to examine how incarceration is associated with asset ownership among formerly incarcerated men and their romantic partners. Results, which pay careful attention to the social forces that select individuals into incarceration, show that incarceration is negatively associated with ownership of a bank account, vehicle, and home among men and that these consequences for asset ownership extend to the romantic partners of these men. These associations are concentrated among men who previously held assets. Results also show that post-incarceration changes in romantic relationships are an important pathway by which even short-term incarceration depletes assets.
Full Text Available The Slovenian post-privatisation period has been characterised by a decline in the ownership by non-managerial owners (employees and state-controlled funds. On the other hand, domestic and foreign non-financial firms, Privatisation Investment Funds and managers have been increasing their holdings. The latter, namely the growing managerial ownership, is likely to feature in future ownership dynamics in Slovenia. In fact, in 2002 the desired (optimal ownership stakes estimated by Slovenian managers were 10.8 percentage points higher than their actual stakes. The aim of our paper is to describe the main trends in the ownership of Slovenian corporations in the post-privatisation period and to provide an answer to the basic economic question: what is the influence of the ongoing consolidation of managerial ownership on the performance of Slovenian firms. The empirical analysis testing this relationship is based on a panel of 182 Slovenian firms in the 1995-99 period and does not provide relevant evidence of any positive effects of the increasing managerial control on Slovenian firms’ performance. If any, a positive incentive effect is only observed in those firms whose managers’ holdings exceed 10-percent, only with regards to firms’ financial performance (but not total factor productivity and only in firms that are not listed on the capital market. Further, the negative effect of the current gap between the desired and actual managerial ownership seems to exceed any positive incentive effect arising out of managerial ownership
This study analyzes the relationship between management ownership and its risk-shifting incentive. We first present a simple model showing that the risk-shifting incentive of management of financially distressed firms increases as the management ownership of the firm increases. Empirically, we test the hypothesis that under the former Japanese Corporate Reorganization Law, firms with higher management ownership are more likely to use legal rather than private reorganization. Since the reorgan...
Banfi, Silvia; Filippini, Massimo
The electricity generation in Switzerland is mainly based on hydropower (55% of total production). The exploitation of water in the hydropower sector can generate significant so-called resource rents. These are defined by the surplus return above the value of capital, labor, materials, and energy used to exploit hydropower. In Switzerland, hydropower producers pay to the State a fixed fee per kW gross capacity. With this system the substantial differences in costs, revenues and in the production characteristics of the hydropower plants are not taken into account. In this context, the following paper has two main goals: (1) to discuss the introduction in the Swiss hydropower sector of a new payment system based on a resource rent tax; (2) To propose a combination of a RRT system with a benchmarking analysis of the production cost obtained through the estimation of a stochastic frontier variable cost function. We estimate a true random effects stochastic frontier variable cost function using panel data in order to overcome the asymmetric information problem. In addition, using the information on cost efficiency of the single companies, we show how to introduce in the RRT scheme a benchmark system which gives incentives to minimize the production costs.
Børsting, Christa Winther; Thomsen, Steen
of profitability and growth, despite lacking governance mechanisms such as profit incentives or takeover threats. Given their non-profit ownership, they might be expected to behave more responsibly towards stakeholders, such as employees or customers (Hansmann, 1980), but so far there has been little empirical...... ratings. Secondary evidence on labour market behaviour is consistent with these findings. Using matched employer–employee data we show that foundation-owned companies are more stable employers, pay their employees better, and keep them for longer. Altogether, the evidence indicates that foundation...
or rural development? This article finds empirical support for a proposed theory which suggests that the extent of agricultural rent-seeking, in the form of large-scale land acquisitions, is determined by the relative political power of an elite and a farmer group. © 2014 Taylor & Francis.......Recent increases in demand for agricultural land has fuelled academic, as well as public, interest in the potential effects of high value agricultural land, particularly in developing countries. The dominating question seems to be: will increasing demand for agricultural land imply land grabbing...
L'objectif de ce projet est de comparer et contraster les différents systèmes réglementaires de transfusion sanguine dans le monde. Avec une demande toujours croissante sur des approvisionnements en sang dans le monde entier, il y - a un immense besoin d'assurer des produits sûrs et suffisants d'apport de sang. Cependant le cadre juridique pour un système de sang exprime la politique nationale de sang et décrit des mécanismes régissant la collection, le traitement et la transfusio...
Hansen, Anders Chr.; Thorn, Paul
The paper provides a GIS based model for assessing the potentials of photovoltaic electricity in Europe by NUTS 2 regions. The location specific energy potential per PV-‐panel area is estimated based on observations of solar irradiation, conversion efficiency, levelised costs and the social value...... of PV-‐electricity. Combined with the potential density of PV-‐panel area based on land cover and environental restrictions, the PV energy potential and the potential PV ressource rent is calculated. These calculations enbable the model to estimate the regional patterns at NUTS 2 level...
Carlsen, Kirsten; Hansen, Christian Pilegaard
This paper describes types, processes and importance of rent-seeking in the allocation of timber rights in Ghana. It is based on an analysis of 30 interviews with large-, medium- and small-scale timber firms, as well as government officials and timber industry organizations in Ghana. The paper...... documents that timber rights allocation is associated with both bureaucratic and political corruption. The latter comes in two forms. First, the findings suggest that well-established relationships exist between politicians and senior bureaucrats on the one side and large-scale timber firms on the other...
Wiser, R.; Kahn, E.
Most utility-scale renewable energy projects in the United States are developed and financed by private renewable energy companies. Electric output is then sold to investor-owned and public utilities under long-term contracts. Limited partnerships, sale/leaseback arrangements, and project-financing have historically been the dominant forms of finance in the windpower industry, with project-finance taking the lead more recently. Although private ownership using project-finance is still the most popular form of windpower development, alternative approaches to ownership and financing are becoming more prevalent. U.S. public and investor-owned electric utilities (IOUs) have begun to participate directly in windpower projects by owning and financing their own facilities rather than purchasing windpower from independent non-utility generators (NUGs) through power purchase agreements (PPAs). In these utility-ownership arrangements, the wind turbine equipment vendor/developer typically designs and constructs a project under a turnkey contract for the eventual project owner (the utility). The utility will also frequently sign an operations and maintenance (O&M) contract with the project developer/equipment vendor. There appear to be a number of reasons for utility involvement in recent and planned U.S. wind projects. One important claim is that utility ownership and self-finance provides substantial cost savings compared to contracting with private NUGs to supply wind-generated power. In this report, we examine that assertion.
Jones, Sandra C
Alcohol-branded merchandise (ABM) has a longer shelf-life than other forms of alcohol marketing and the potential to become integrated into children's self-identities. This review sought to explore the current literature on children's exposure to, and the impact of, ABM. PsycInfo, Proquest, Science Direct, and ABI-Inform databases were searched from the earliest available date to May 2015. Additional studies were identified by a manual review of the reference lists of retrieved articles and contacting the corresponding author of each included study. Articles that reported on child or adolescent ownership of ABM and/or the relationship between ABM ownership and drinking were included. Data on key measures were tabulated; where data of interest were not reported, requests for further information were sent to the articles' authors. Nine cross-sectional and 4 longitudinal studies were identified. ABM ownership ranged from 11% to 59% and was higher among older children and males. Seven cross-sectional studies reported associations between ABM ownership and drinking-related behaviors. All 4 longitudinal studies reported a significant relationship between ownership at baseline and drinking initiation at follow-up. The small number of available studies, with different measures of ABM ownership and of associations/effects. The few studies exploring ABM ownership are consistent in showing high rates of ownership and associations between ownership and current and future drinking. There is a need for further research into specific aspects of ABM ownership. However, there is also a need for policy interventions to reduce children's access to and ownership of ABM. Copyright © 2016 by the American Academy of Pediatrics.
Multiphase Production. Representation of Thermodynamic Properties of Methanol by Different Equations of State Production polyphasique. Représentation des propriétés thermodynamiques du méthanol à partir de différentes équations d'état
Full Text Available For oil and gas offshore production, any extension of the Multiphase Production Concept to more complex effluents under more difficult transport conditions, requests a better understanding and control of :(a the thermodynamic behaviour of water-hydrocarbon mixtures,(b the efficiency of various additives (or mixtures of additives, necessary for a safe, reliable and economical operation of the production and transport facilities. One of the main additives used for hydrate control being methanol, this paper deals specifically with its thermodynamic properties and includes:(a first, an exhaustive bibliography of experimental-data with the method used for the selection of a coherent and reliable data base,(b then, a comparison of the results obtained, after adjustement on the data base :- with various cubic and not-cubic equations of state : Peng-Robinson, Cubic-Chain-Of-Rotators (CCOR, Chain-Of-Rotators (COR,- as well as with equations of state including methanol association phenomena (Anderko model, Wenzel and Krop model,(c and finally, an empirical Bipolynomial equation of state which represents the methanol thermodynamic properties with a good accuracy. Pour la production d'hydrocarbures en mer, le concept de transport polyphasique sur longues distances des fluides de réservoir non traités sur le champ est appelé à se développer. Les raisons du succès de ce concept sont évidentes : - sécurité des personnes : strict minimum de personnel travaillant en mer, minimum de trajets par hélicoptères, minimum de trafic maritime ; - protection de l'environnement : aucun rejet d'hydrocarbures ni à l'atmosphère, ni à la mer; - coûts réduits pour le développement comme pour l'exploitation : minimum d'équipement en mer (têtes de puits, vannes multivoies, débitmètres triphasiques,. . . , d'où des coûts réduits de 30 à 50 % pour des champs marginaux qui pourraient rester commercialement inexploitables avec des schémas de d
Kok, Nils; Jennen, Maarten
Energy consumption in the commercial property sector offers an important opportunity for conserving resources. In this study, we evaluate the financial implications of two elements of “sustainability” – energy efficiency and accessibility – in the market for commercial real estate. An empirical analysis of some 1100 leasing transactions in the Netherlands over the 2005–2010 period shows that buildings designated as inefficient (with an EU energy performance certificate D or worse) command rental levels that are some 6.5 percent lower as compared to energy efficient, but otherwise similar buildings (labeled A, B or C). Furthermore, this study shows that office buildings in multi-functional areas, with access to public transport and facilities, achieve rental premiums over mono-functional office districts. For policymakers, the results documented in this paper provide an indication on the effectiveness of the EU energy performance certificate as a market signal in the commercial property sector. The findings documented here are also relevant for investors in European office markets, as the importance of energy efficiency and locational diversification is bound to increase following stricter environmental regulation and changing tenant preferences. - Highlights: ► Built environment plays important role in reduction of greenhouse gas emissions. ► Energy certification of buildings may increase transparency and awareness. ► Tenants pay lower rent for less efficient commercial office buildings. ► Accessibility important determinant of commercial office rents.
Rabah Arezki; Thorvaldur Gylfason
We examine the effect of the interaction between resource rents and democracy on corruption for a panel of 29 Sub-Saharan countries during the period from 1985 to 2007. We find that higher resource rents lead to more corruption and that the effect is significantly stronger in less democratic countries. Surprisingly, we also find that higher resource rents lead to fewer internal conflicts and that less democratic countries face not a higher but a lower likelihood of conflicts following an incr...
Purpose: The purpose of this study was to develop an instrument to measure psychological ownership in a South African context. Motivation for the study: It was found that previous instruments for the measurement of psychological ownership lacked the ability to grasp the extensive reach of psychological ownership. Research design, approach and method: A quantitative cross-sectional survey was conducted on a non-probability convenience sample of 713 skilled, highly-skilled and professional employees from various organisations in both the private and public sectors in South Africa. Main findings: Although a 69-item measurement instrument was developed in order to capture the proposed seven-dimensional psychological ownership construct, it became evident when analysing the data that a four-factor model comprising 35 items was suitable. Practical/managerial implications: If a sense of psychological ownership toward an organisation could be established amongst its employees by addressing the factors as measured by the South African Psychological Ownership Questionnaire, organisations could become enhanced workplaces and, as a result, sustainable performance could be promoted and staff could be retained. Contribution/value-add: The instrument for measuring psychological ownership in a South African context could serve as a diagnostic tool that would allow human resource professionals and managers to determine employees’ sense of psychological ownership regarding their organisation and to focus specifically on weak dimensional areas that could be improved.
de Jong, Abe; Kabir, Mohammed Rezaul; Marra, Teye; Röell, Ailsa
This paper analyses ownership and control structures of Dutch listed companies. Legislation effective since 1992 mandates all shareholders with holdings of 5 percent or more in Dutch companies to disclose their holdings. Our analysis shows that the average ownership stakes of the largest and the
Dommett, Eleanor J.
Purpose: This paper aims to examine the different ways in which learners may have ownership over technology-enhanced learning by reflecting on technical, legal and psychological ownership. Design/methodology/approach: The paper uses a variety of examples of technology-enhanced learning ranging from open-source software to cloud storage to discuss…
Munch, Jakob Roland; Rosholm, Michael; Svarer, Michael
We investigate the impact of home ownership on individual job mobility and wages in Denmark. We find that home ownership has a negative impact on job-to-job mobility both in terms of transition into new local jobs and new jobs outside the local labor market. In addition, there is a clear negative...
Munch, Jakob Roland; Rosholm, Michael; Svarer, Michael
We investigate the impact of home ownership on individual job mobility and wages in Denmark. We find that home ownership has a negative impact on job-to-job mobility both in terms of transition into new local jobs and new jobs outside the local labour market. In addition, there is a clear negative...
Munch, Jakob Roland; Rosholm, Michael; Svarer, Michael
We investigate the impact of home ownership on individual job mobility and wages in Denmark. We find that home ownership has a negative impact on job-to-job mobilityboth in terms of transition into new local jobs and new jobs outside the local labourmarket. In addition, there is a clear negative...
J. van Acht; J. Stam; A.R. Thurik (Roy); I. Verheul (Ingrid)
textabstractThe influence of industrial structure, more specifically of business ownership, is investigated on the level of unemployment in Japan. The question is to what extent business ownership, i.e., entrepreneurship, can reduce the level of unemployment. It will be concluded that Japan is
Full Text Available The economic globalisation process makes the economic factors rotate faster. As a result the value added is intercepted by market mechanism and transferred to the economically stronger entities. That process concerns especially agriculture. There exists a crucial question whether an agricultural land factor is still capable to generate economic rents which would be the determinants of comparative advantages? On the one hand, D. Ricardo’s land rents are vanishing, H. George’s rents are provoking financial crisis, monetarists assumptions are becoming unsufficient, on the other, the land factor gains new environmental applications and there is still a hope that land rents have its origins in a real value. This paper aims at presenting the evolution of the land rents theory starting from classical economics. The author makes an attempt to answer the question if the land rent theories are still relevant and how land rent category can be implemented in agricul-tural policy of the UE? One formulates a hypothesis that the neoclassical theory of rent usually presented in economic textbooks is insufficient to describe reality reducing the sources of land rent to a low land supply flexibility and treating that as constant variable in economic models.
Ortlieb, Renate; Matiaske, Wenzel; Fietze, Simon
Politicians and scholars alike praise the significant benefits associated with employee share ownership (ESO). However, little is known about the concrete motives of firms to provide ESO to their employees. In particular, it is unknown how these motives correlate with firms’ contexts. Drawing...... on an institutional theoretical framework, this article examines what aims firms pursue through the provision of ESO. The data originate from a survey of firms in Germany. The cluster analytic findings indicate distinctive patterns of relationships between aims and firm characteristics. Aims related to employee...... performance are most important to foreign-owned firms, financial aims are most important to non-public small and medium-sized firms and aims related to corporate image are most important to big firms and to firms that do not provide profit sharing. Aims related to employee attraction and retention are almost...
Kato, Takao; Miyajima, Hideaki; Owan, Hideo
studies, we focus on the effects of changes in varying attributes of existing ESO—the effects on the intensive margin. Our fixed effect estimates show that an increase in the strength of the existing ESO plans measured by stake per employee results in statistically significant productivity gains....... Furthermore, such productivity gains are found to lead to profitability gains since wage gains from ESO plans are statistically significant yet rather modest. Our analysis of Tobin's Q suggests that the market tends to view such gains from ESO plans as permanent. We further find that increasing the stake......This paper provides novel evidence on the effects of employee stock ownership (ESO), using new panel data on Japanese ESO plans for a highly representative sample of publicly-traded firms in Japan (covering more than 75% of all firms listed on Tokyo Stock Exchange) over 1989-2013. Unlike most prior...
NSGIC Local Govt | GIS Inventory — Parcel Ownership Polygon Layer: Polygons showing property ownership created from the "master" subdivision base map for Volusia County. Multiple lots and parcels...
including product market rents and the possibility that jobs may be relocated across national labour markets. Possibilities and threats, however, will not in general be uniformly distributed across firms and therefore groups in the labour market. These issues are explored in a Ricardian trade model......International product market integration enhances both export possibilities through easier access to foreign markets, but also the import threat arising from foreign firms penetrating into the domestic market. These mechanisms affect wage formation and employment creation through many channels...... with imperfect competition, heterogeneity in the labour market, and decentralized wage-bargaining. The Paper analyses how product market integration affects wage formation, and identifies characteristics of winners and losers in the integration process....
This paper starts with incredulity first. Whilst doing some research for this paper, I came across members of the top political elite from Zaire to Nigeria often taken as 'kleptocrat extraordinaire' to be also in the forefront in denoucing rennt-seeking and corruption with an equal extraordinaire...... on this dlemma in order to address how rent-seeking cleansing can be attempted to align the elites as part of the solution rather than the problem of African economic and political development.......' flair and completeness at the same time.Some might ignore their stance as cynical and self-servingg and move on to other concerns. Others might condemn the fadulent behaviour, add what one can expect anyway from such immoral and unethical characters and pass on to other things.... This paper reflects...
The purpose of this report is to analyse the structure of ownership in the financial sector in the selected old (France, Germany, Greece, Italy, Sweden, the United Kingdom) and new (the Czech Republic, Hungary, Poland) EU Member States. This subject is particularly important to the proper understanding of the scale and scope of the process of financialisation in the EU countries. General objective of the report is the investigation and evaluation of the evolution of the structure of ownership...
Hager, S. B.
In various writings Karl Marx made references to an ‘aristocracy of finance’ in Western Europe and the United States that dominated ownership of the public debt. Drawing on original research, this article offers the first comprehensive analysis of public debt ownership within the US corporate sector. The research shows that over the past three decades, and especially in the context of the current crisis, a new aristocracy of finance has emerged, as holdings of the public debt have become rapi...
Shanefelter, Jennifer Kaiser
The first chapter considers improvements in productive efficiency that can result from a movement from a regulated framework to one that allows for market-based incentives for industry participants. Specifically, I look at the case of restructuring in the electricity generation industry. Using data from the electricity industry, this analysis considers the total effect of restructuring on one input to the production process, labor, as reflected in employment levels, payroll per employee and aggregate establishment payroll. Using concurrent payroll and employment data from non-utility ("merchant") and utility generators in both restructured and nonrestructured states, I estimate the effect of market liberalization, comprising both new entry and state-level legislation, on employment and payroll in this industry. I find that merchant owners of divested generation assets employ significantly fewer people, but that the payroll per employee is not significantly different from what workers at utility-owned plants are paid. As a result, the new merchant owners of these plants have significantly lower aggregate payroll expenses. Decomposing the effect into a merchant effect and a divestiture effect, I find that merchant ownership is the primary driver of these results. As documented in Chapter 1, merchant power plants have lower overall payroll costs than plants owned by utilities. Employment at merchant power plants is characterized by reduced staffing levels but higher average payroll per employee. A hypothesis set forth in that paper is that merchant generators employ fewer workers at the lower end of the wage distribution, resulting in a higher average payroll per employee. The second chapter of this paper examines whether employment at nonutility power plants, that is, those that are either divested or native merchant power plants, is skewed towards more skilled labor. This chapter also considers the extent to which the difference in employment levels is the result of
Shakya, Holly B; Christakis, Nicholas A; Fowler, James H
Poor sanitation, including the lack of clean functioning toilets, is a major factor contributing to morbidity and mortality from infectious diseases in the developing world. We examine correlates of latrine ownership in rural India with a focus on social network predictors. Participants from 75 villages provided the names of their social contacts as well as their own relevant demographic and household characteristics. Using these measures, we test whether the latrine ownership of an individual's social contacts is a significant predictor of individual latrine ownership. We also investigate whether network centrality significantly predicts latrine ownership, and if so, whether it moderates the relationship between the latrine ownership of the individual and that of her social contacts. Our results show that, controlling for the standard predictors of latrine ownership such as caste, education, and income, individuals are more likely to own latrines if their social contacts own latrines. Interaction models suggest that this relationship is stronger among those of the same caste, the same education, and those with stronger social ties. We also find that more central individuals are more likely to own latrines, but the correlation in latrine ownership between social contacts is strongest among individuals on the periphery of the network. Although more data is needed to determine how much the clustering of latrine ownership may be caused by social influence, the results here suggest that interventions designed to promote latrine ownership should consider focusing on those at the periphery of the network. The reason is that they are 1) less likely to own latrines and 2) more likely to exhibit the same behavior as their social contacts, possibly as a result of the spread of latrine adoption from one person to another. Copyright © 2014 Elsevier Ltd. All rights reserved.
This article sets out to explain the ARENH mechanism, the regulated price at which the EDF (France's historic monopoly supplier) must sell part of its production to its competitors in the framework of the Nome Act (New Organisation of the Electricity Market). This price by its nature is different from the Current Economic Cost (CEC) of nuclear power, as estimated by France's Government Accounting Office in its report submitted in January 2012. These two approaches revert to the problem of the determination of the scarcity rent of nuclear power in the context of the liberalised European market, in which nuclear power benefits from a 'cost' advantage relative to thermal electricity generated from fossil fuels. Furthermore, scarcity rent is not the same thing as differential rent. Selling a nuclear kWh at the price of a 'gas' kWh at certain times results in a differential rent enabling nuclear generated power to cover fixed costs. One can only speak of scarcity rent for nuclear power when the price at which the kWh is sold allows the recovery of more than is necessary to cover overall costs of nuclear power and it is this scarcity rent and its allocation that is the subject of debate. (author)
Acheson, Graeme G.; Campbell, Gareth; Turner, John D.; Vanteeva, Nadia
Using ownership and control data for 890 firm‐years, this article examines the concentration of capital and voting rights in British companies in the second half of the nineteenth century. We find that both capital and voting rights were diffuse by modern‐day standards. However, this does not necessarily mean that there was a modern‐style separation of ownership from control in Victorian Britain. One major implication of our findings is that diffuse ownership was present in the UK much earlie...
The real estate businessñproject Competent Ownership (Oskito)î focuses on the role of ownership within the real estate industry. Ownership acts as the core upon which , the competitive advantages of real estate industry are for the most based. The project studies specific real estate business issues, especially îentities of possessionî that are large enough to allow the development of specialised businesses. The project is of current interest as the next phase of growth of the Finnish informa...
... URBAN DEVELOPMENT SECTION 8 TENANT BASED ASSISTANCE: HOUSING CHOICE VOUCHER PROGRAM Rent and Housing Assistance Payment § 982.521 Rent to owner in subsidized project. (a) Applicability to subsidized project. This section applies to a program tenancy in any of the following types of federally subsidized project...
..., DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SECTION 8 TENANT BASED ASSISTANCE: HOUSING CHOICE VOUCHER PROGRAM Special Housing Types Manufactured Home Space Rental § 982.622 Manufactured home space rental: Rent to owner. (a) What is included. (1) Rent to owner for rental of a manufactured home space includes payment...
... Special Housing Types Shared Housing § 982.617 Shared housing: Rent and voucher housing assistance payment... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Shared housing: Rent and voucher housing assistance payment. 982.617 Section 982.617 Housing and Urban Development Regulations Relating to...
... Special Housing Types Group Home § 982.613 Group home: Rent and voucher housing assistance payment. (a... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Group home: Rent and voucher housing assistance payment. 982.613 Section 982.613 Housing and Urban Development Regulations Relating to...
... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false May a recipient charge flat or income-adjusted rents? 1000.126 Section 1000.126 Housing and Urban Development Regulations Relating to... § 1000.126 May a recipient charge flat or income-adjusted rents? Yes, providing the rental or homebuyer...
Based on secondary data on 79 companies in Mekelle, Ethiopia, this paper investigates the influence of transaction cost and real option factors on firms' own or rent decision for building resources. Empirical results suggest that both transaction cost and option factors have significant influence on firms' own or rent decision.
Dobbelaere, Sabien; Mairesse, Jacques
The extent to which employers share rents with their employees is typically assessed by estimating the responsiveness of workers’ wages on firms’ ability to pay. This paper compares rent-sharing estimates using such a wage determination regression with estimates based on a productivity regression
This paper discusses the impact of central government's rent restructuring policy on social housing in rural areas in England. It examines the effect that restructuring will have on the rents set by social landlords in a set of case study areas then considers some of the likely impacts on affordability and on new investment in rural social…
... PROGRAM, SECTION 202 SUPPORTIVE HOUSING FOR THE ELDERLY PROGRAM AND SECTION 811 SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES PROGRAM) SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM-FAIR MARKET RENTS AND... Elderly or Handicapped, and Special Allocations Projects § 888.320 One-time Contract Rent determination...
... Information Collection: Transformation Initiative Rent Reform Demonstration Small Grants AGENCY: Office of... information: Title of Proposal: Notice of Funding Availability for the Transformation Initiative Rent Reform...-96011. Members of the affected public: Institutions of higher education accredited by a national or...
Full Text Available Using a unique employer-employee panel database, we investigate the extent of rent sharing in Italy from 1996 to 2003. We derive the following findings. First, after controlling for the national bargaining level, there is robust evidence of rent sharing at firm level. Second, by means of fixed effects estimates we show that the sorting of high-ability workers into high-profit firms appears to play a substantial role, since it captures a significant amount of cross sectional estimates of rent sharing. Third, in accordance to the related literature the endogeneity of profits causes a severe underestimation of rent sharing. Our final IV estimate of the elasticity of wages with respect to profits per employee amounts to 6%, with a "Lester" range of 24%. Moreover, we point out that the impact of rent sharing is not homogeneous across several dimensions (gender, occupation, sector and macroarea.
Refineries are part of the energetic infrastructure of one country. Their significance is dependent on the geographic country position (whether it has sea exit or not), and on structure of primary energy spends in the country. According these facts, country's attitude to the refineries on its territory could be different. The possibility of ownership structure transformation in refineries and necessary legislation in the energetic sector of the state, needed for transformation realization are analyzed in this paper. Essential conditions for transformation fulfilling are protection 'mechanisms for domestic production in crude oil economy, manners of crude oil products price defining, and manners of excise determination and payment. As a function of these conditions, the conditions under which transformation of ownership structure in refineries is possible, as well as their influence on the operation and development of this part of energetic structure in transition country are defined in this paper. (Original)
Verkuyten, Maykel; Martinovic, Borja
Whereas much social psychological research has studied the in-group and out-group implications of social categorization and collective identity ("we"), little research has examined the nature and relevance of collective psychological ownership ("ours") for intergroup relations. We make a case for considering collective psychological ownership as an important source of intergroup tensions. We do so by integrating theory and research from various social sciences, and we draw out implications for future social psychological research on intergroup relations. We discuss collective psychological ownership in relation to the psychology of possessions, marking behavior, intergroup threats, outgroup exclusion, and in-group responsibility. We suggest that the social psychological processes discussed apply to a range of ownership objects (territory, buildings, cultural artifacts) and various intergroup settings, including international, national, and local contexts, and in organizations and communities. We conclude by providing directions for future research in different intergroup contexts.
Full Text Available This manuscript is aimed at highlighting the most recent trends in corporate governance, ownership and control based on the manuscripts presented at the international conference “Corporate Governance, Ownership and Control” that took place in Rome on February 27, 2018. We have also used reputable papers published in the relevant academic journals in the past to support the arguments stated by the authors of the papers, presented at the conference. This paper covers a wide range of corporate governance topics in corporate ownership and control toward corporate governance mechanisms, such as board of directors, the board diversity, directors’ remuneration, firm performance, auditing and accounting, etc. We saw a growing interest of researchers to widen the scope of their major research to link it to corporate ownership and control issues. Currently, corporate governance research follows two major routs: classical empirical corporate governance research and multidisciplinary research aimed at findings non-conventional methods to solution of existing problems.
Florentina, Indri Erkaningrum
Asymmetric information and agency issues made stockholders need to control business activities throughoptimalization insider ownership and investment decision. Optimalization of insider ownership and investmentdecision were expected to make business risk controlled. This research aimed at verifying empirically theinfluencing factors of insider ownership, investment decision, business risk, and finding the interdependencyamong insider ownership, investment decision, and business risk. The samp...
Lowitzsch, Jens; Hashi, Iraj; HASHANI, Alban
Following a 2010 initiative opinion by the European Economic and Social\\ud Committee and a 2012 study on employee financial participation (EFP)\\ud commissioned by the European Parliament, in December 2012 the European\\ud Commission included the promotion of employee share ownership\\ud (ESO) in its Action Plan to reform European company law and corporate\\ud governance (European Commission, COM/2012/0740). This marks an extension\\ud in the perception of the issue of EFP in general and ESO in pa...
Full Text Available This article analyzes policy innovation in Colombia, through the adoption of a new centralized oil-rent management system in 2011, after 20 years of decentralized policies. Using a policy-design framework, we identify a causal mechanism linking the opening of a policy window to policy change as a combination of the emergence of a new policy network, the adoption of a new policy paradigm and the selection of a new instruments mix. Drawing on Bayesian statistics, the 11 tests conducted on the causal mechanism show the importance of State resources of information, authority, treasury and organization to assess the outcome of policy change.
Jones, Derek C.; Kalmi, Panu; Mygind, Niels
In this paper we use rich panel data for a representative sample of Estonian enterprises to analyse diverse issues related to the determinants of ownership structures and ownership changes after privatisation. A key focus is to determine whether ownership changes are related to economic efficiency. While employee owned firms are found to be much more prone than other firms to switch ownership categories, often “employee owned” firms remain “insider-owned” as ownership passes from current empl...
Jones, E H; Hinckley, A F; Hook, S A; Meek, J I; Backenson, B; Kugeler, K J; Feldman, K A
We examined whether pet ownership increased the risk for tick encounters and tickborne disease among residents of three Lyme disease-endemic states as a nested cohort within a randomized controlled trial. Information about pet ownership, use of tick control for pets, property characteristics, tick encounters and human tickborne disease were captured through surveys, and associations were assessed using univariate and multivariable analyses. Pet-owning households had 1.83 times the risk (95% CI = 1.53, 2.20) of finding ticks crawling on and 1.49 times the risk (95% CI = 1.20, 1.84) of finding ticks attached to household members compared to households without pets. This large evaluation of pet ownership, human tick encounters and tickborne diseases shows that pet owners, whether of cats or dogs, are at increased risk of encountering ticks and suggests that pet owners are at an increased risk of developing tickborne disease. Pet owners should be made aware of this risk and be reminded to conduct daily tick checks of all household members, including the pets, and to consult their veterinarian regarding effective tick control products. © 2017 Blackwell Verlag GmbH.
Sonny Dewi Judiasih
Full Text Available Many Indonesians have committed themselves into a mixed marriage, both in Indonesia and outside the country. Mixed marriage would mean that there are differing nationalities who abide under two different state laws and as consequence of this, issues of private international law in joint property would emerge. On the status of ownership on immovable assets such as land, the nationality principle must be paid attention to, because according to Indonesian law, only Indonesian citizens may have access to Land Ownership Rights. Thus, in mixed marriages, foreign spouses (husband or wife may not have land ownership rights. Masyarakat Indonesia banyak yang melakukan perkawinan campuran, baik yang dilakukan di Indonesia maupun di luar negeri. Pelaksanaan perkawinan campuran menyebabkan adanya perbedaan kewarganegaraan dimana mereka tunduk pada sistem hukum yang berlainan sehingga melahirkan masalah hukum perdata internasional dalam pengaturan harta bersama. Mengenai status kepemilikan atas benda tidak bergerak seperti tanah, terdapat asas nasionalitas yang harus diperhatikan, yaitu hanya WNI saja yang boleh mempunyai Hak Milik Atas Tanah. Oleh karena itu, dalam perkawinan campuran, suami atau istri yang berkewarganegaraan asing tidak boleh mempunyai hak milik atas tanah.
Che-Ahmad Ayoib B
Full Text Available The incentive of this study stems from the significance of protecting minority shareholders’ rights. It analyses the most dominant ownership structure practices within listed firms in Bursa Malaysia (BM, in which controlling shareholders (CSs hold control on many firms despite relatively small portion of investment. Malaysian firms are characterised by high levels of concentrated ownership with families owning more than 70% of the listed firms in BM . This study finds that the separation between cash flow rights (real investment and control rights (voting rights for Top 100 Malaysian listed firms is accomplished through pyramidal ownership and golden share arrangements. Hence, the divergence between cash flow rights (CFRs and voting rights (VRs exacerbates Type II Agency problem. This study calls for future studies in the area of accounting and finance to introduce and operationalise new measurement of Type II Agency Cost in order to better understand the agency conflicts within this unique market. It also better explains the state of the minority shareholders in the BM.
... Trend Factor Methodology Used in the Calculation of Fair Market Rents AGENCY: Office of the Assistant... used to calculate the trend factor component of the Fair Market Rent estimates. SUMMARY: Section 8(c)(1... comment regarding the manner in which HUD calculates the trend factor used in the Fair Market Rent (FMR...
Rasmussen, Torben Valdbjørn
Indoor radon levels were measured in 221 homes in rented accommodation. In addition, buildings were registered for a series of variables describing building characteristics and used materials. The mean year value of the indoor radon level was 30.7 (1~250) Bq/m3. The indoor radon level exceeded 100...... Bq/m3 in 5.9% of the homes. Of the investigated variables, only homes in single-family terraced houses, were statistically significant. Approx. 75% of homes exceeding 100 Bq/m3 indoor radon level had levels between 100 and 200 Bq/m3 and 25% had indoor radon levels exceeding 200 Bq/m3. Significant...... differences in indoor radon levels were found in homes located in multi-occupant houses. Additionally, the risk of indoor radon levels exceeding 100 Bq/m3 in homes in multi-occupant houses was found to be very low, but the risk was the highest on the ground floor in a building constructed with slab on ground....
Morbee, J.; Himpens, P.; Proost, S.
This paper studies the taxation of nuclear energy using a stylized model of the electricity sector, with one dominant nuclear producer and a competitive fringe of non-nuclear plants. First, we find that the optimal nuclear tax is different depending on the time horizon: the optimal short-run tax has the same order of magnitude as the nuclear taxes imposed in Belgium and Germany, while in the long run the optimal tax may be negative, i.e. a subsidy. Second, government credibility is important: when a government cannot credibly commit, the mere possibility of a short-run tax could severely harm incentives for future investments in lifetime-extending refurbishment or new plants. Third, when there is natural scarcity in nuclear potential, other policies like inviting multiple competitive bidders for lifetime extension franchises or for investments in new plants, may be more efficient ways to increase government revenue. - Highlights: • Taxation of nuclear rents is studied using a dominant firm–competitive fringe model. • The optimal tax can be large in the short run, but possibly negative in the long run. • When a government cannot credibly commit, the tax harms investment incentives. • Other policies like auctioning of nuclear franchises can be more efficient than taxes. • The analytical results are numerically illustrated for the case of Belgium.
Hamilton, K.; Hartwick, J.M.
This study presented a brief analysis of the concept of maintaining capital intact in an economy with 2 capital goods: one produced, and one an exhaustible oil stock. Oil stock supplies a vital input flow to the economy every day. The authors characterized dollar-valued national wealth and income. The magnitude of net investment has become pivotal in measuring the sustainability of an economy. This study linked the investment of exhaustible resource rents to growth in a model with energy consumption varying through time, as in a model of optimal savings. Dollar-valued net national product was set out for the economy with the essential, but wasting oil stock. The study applied the principle of maintaining capital intact and locally unchanging consumption. The percentage change in net investment or genuine savings, relative to the market rate of interest, determines whether current consumption is rising, constant, or declining. In the case of utility discount rates, it was observed that at a point of locally unchanging consumption, the net investment equals the prevailing market rate of interest, and the level of net investment is negative. The consumption increases when the percentage change in net investment is lower than the market rate of interest, and the reverse is true when consumption decreases. The connection between zero net investment and constant consumption was clarified. The sign of current net investment was found to be a good indicator of the direction of national wealth and income. 15 refs
Chen, Hong; Feng, Qun; Zhu, Dandan; Han, Shuai; Long, Ruyin
During the “golden decade” (2001–2011) of the coal industry in China, rent-seeking increased in coal mine safety supervision alongside significant improvements in coal mine safety status and increased economic benefits in the coal industry. To explore this internal relationship, we developed a Matlab simulation system and simulated the impact of rent-seeking from each level of the supervision department on coal mine productivity in different scenarios. The results showed the following. (1) Rent-seeking had no significant influence on the average level of material productivity but it had an adverse effect on the average level of mental productivity. Due to the effects of rent-seeking, productivity tended to exhibit unstable and destructive fluctuations, and rent-seeking had the dual effect of promoting and restraining productivity in a wide range with a high frequency. (2) In the supervision scenario, supervision by the high-level department was efficient, and productivity was promoted more by the national and provincial supervision department. (3) In the rent-seeking scenario, each level of the department had an intensity threshold above which coal mine accidents occurred. We also propose suggestions that focuses on the improved supervision of Chinese coal mine safety in three areas based on the “new normal” safety concept. - Highlights: •We discussed rent-seeking behavior in Chinese coal mine safety supervision. •We explored the characteristics of coal mine productivity. •We investigated the impact of rent-seeking on coal mine productivity in three scenarios. •We found rent-seeking led to great fluctuations in productivity with a dual effect. •We proposed a model strategy for Chinese coal mine safety supervision in three areas.
Torp, Simon; Nielsen, Bo Bernhard
Based on a survey among 295 of the top 500 Danish companies, we develop and test an integrated model of the simultaneous effects of employee stock ownership (ESO) and a participative leadership style (PLS) on the creation of psychological ownership (PO) and link this to financial firm performance...
Tucker, James; And Others
A small company was studied before and after introduction of an employee stock ownership plan. Employees' commitment to the organization and job satisfaction were higher after plan implementation, while perceived worker influence levels did not change. Findings suggest that ownership changes employees' attitudes without changing employees'…
Horwitz, Jill R; Nichols, Austin
To test whether nonprofit, for-profit, or government hospital ownership affects medical service provision in rural hospital markets, either directly or through the spillover effects of ownership mix. Data are from the American Hospital Association, U.S. Census, CMS Healthcare Cost Report Information System and Prospective Payment System Minimum Data File, and primary data collection for geographic coordinates. The sample includes all nonfederal, general medical, and surgical hospitals located outside of metropolitan statistical areas and within the continental United States from 1988 to 2005. We estimate multivariate regression models to examine the effects of (1) hospital ownership and (2) hospital ownership mix within rural hospital markets on profitable versus unprofitable medical service offerings. Rural nonprofit hospitals are more likely than for-profit hospitals to offer unprofitable services, many of which are underprovided services. Nonprofits respond less than for-profits to changes in service profitability. Nonprofits with more for-profit competitors offer more profitable services and fewer unprofitable services than those with fewer for-profit competitors. Rural hospital ownership affects medical service provision at the hospital and market levels. Nonprofit hospital regulation should reflect both the direct and spillover effects of ownership. © Health Research and Educational Trust.
Full Text Available The research related to the association between structure ownership and the firm value is a discussion about corporate governance which is still has contradictory conclusion and mixed result. It indicates open question that needs empirical evidence. The influence of concentrated ownership on firm value still brought conflict of interest so the role of analyst following can be stated as an alternative of corporate governance mechanism (Lang et al., 2004. The objectives of this research are to examine the interaction effect between concentrated ownership and analyst following, and the effect of investor protection toward firm value in five Asian companies. Asia is chosen because it has unique characteristic, in term of corporates ownership structure which is more concentrated on families and board of governance is weak (Choi, 2003. The data is consisting of 7.100 firm year observations obtained from Bloomberg and OSIRIS database for the period 2011-2013 in five Asian Countries, i.e. China, South Korea, Malaysia, Taiwan, and Thailand. Multiple Regression analysis is used to test hypotheses. The results show that concentrated ownership is positively affects the firm value. However, there is no empirical evidence that the interaction of concentrated ownership and analyst following positively affect the firm value. As hypothesized, this research also shows that investor protection has negative impact on firm’s value.
Full Text Available Experimental manipulations of body ownership have indicated that multisensory integration is central to forming bodily self-representation. Voluntary self-touch is a unique multisensory situation involving corresponding motor, tactile and proprioceptive signals. Yet, even though self-touch is frequent in everyday life, its contribution to the formation of body ownership is not well understood. Here we investigated the role of voluntary self-touch in body ownership using a novel adaptation of the rubber hand illusion (RHI, in which a robotic system and virtual reality allowed participants self-touch of real and virtual hands. In the first experiment, active and passive self-touch were applied in the absence of visual feedback. In the second experiment, we tested the role of visual feedback in this bodily illusion. Finally, in the third experiment, we compared active and passive self-touch to the classical RHI in which the touch is administered by the experimenter. We hypothesized that active self-touch would increase ownership over the virtual hand through the addition of motor signals strengthening the bodily illusion. The results indicated that active self-touch elicited stronger illusory ownership compared to passive self-touch and sensory only stimulation, and indicate an important role of active self-touch in the formation of bodily self.
Full Text Available This paper examines the concept of geographic brand rent in production and marketing of New Zealand wine. It is argued that the region of origin for fine wine is not only a recognised feature of its value but that this may be conceived as a form of brand rent and furthermore that it is measurable. The analysis uses both cross-sectional and longitudinal approaches to consider grape and vineyard land prices, as well as interviews with industry informants to explore wine company strategies. Explicit use is made of the value-added chain in order to identify and situate the construction of rents and the positionality of industry actors in respect to these. The analysis highlights the quest to control different forms of brand rent that have led the restructuring of the wine industry. It also exposes countervailing pressures towards economic resilience and market vulnerability facing the fine wine industry.
... PROGRAM, SECTION 202 SUPPORTIVE HOUSING FOR THE ELDERLY PROGRAM AND SECTION 811 SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES PROGRAM) SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM-FAIR MARKET RENTS AND...
Hanousek, Jan; Bena, Jan
-, č. 556 (2006), s. 1-38 R&D Projects: GA ČR GA402/06/1293 Institutional research plan: CEZ:AV0Z70850503 Keywords : rent extraction * large shareholders * dividend policy Subject RIV: AH - Economics
Leahy, Eimear; Lyons, Sean
This paper examines household energy use and appliance ownership in Ireland. Logit regression analyses on a large micro-dataset reveal how household characteristics can help explain the ownership of energy using appliances. Using OLS regression models, we explore the factors affecting residential energy demand conditional on appliance ownership. Results suggest that the methods of space and water heating employed by a household are even more important than electrical appliances in explaining domestic energy usage. However, the stock of appliances must be included in such models so that results will not be biased. The methods employed in this paper can be easily adopted for studies of household energy use in other countries where household expenditure survey data are available.
Caon, Lucrezia; Kessler, Aad; Keesstra, Saskia; Cruze, Rick
Governments, companies and individuals with financial capital to invest, are worldwide buying or renting land in developing or third world countries. Uruguay is a developing country whose economy is mainly based on agriculture. Since 2000 many foreigners started to invest in the Uruguayan agricultural sector and to practice intensive large-scale agriculture. The significant presence of foreigners in the country is proven by the fact that almost 360 000 ha out of the 500 000 ha forming the study area were managed by foreigners in 2012. Nowadays farmers have abandoned the traditional crop rotation plan that included pasture to produce grain for export, and transgenic soya (soya RR) became the main crop planted by both foreigners and locals. Besides the high soil erosion rates related to having soya as main crop, planting soya implies the use of glyphosate, a broad-spectrum systemic herbicide leading to important environmental impacts. It is commonly said that foreigners investing in poor countries are exploiting the local natural resources aiming to get the highest possible profit from them. Is this a valid assumption in Uruguay? The purpose of this study was to compare the land management style of foreign and local farmers and to relate it to the soil erosion occurring in the study area. The land tenure (rented or owned fields) and the type of farmer interviewed ("individual farmer" equivalent to L.L.C. or "anonymous society" equivalent to P.L.C.) were taken into consideration during the analysis. Based on what stated by the farmers interviewed, the soil erosion simulations considered the seven most popular crop rotation plans on rented and owned fields, three ideals crop rotation plans, the application of no mitigation measures, and the construction of terraces and conservation buffers. Depending on the crop rotation plan, soils characterized by slope gradients higher than 2 resulted in soil erosion rates higher than the 7 ton/ha/year allowed by law. The highest
Full Text Available The survey of the Osijek District and County Courts procedures related to the motion to determine the usable values of flats and into procedures of establishing separate parts of real property by the means of apportioning plans as well as the tenant ownership study procedures resulted in different and inconsistent approaches in the process of creation of the study and establishing the usable surface area. The paper deals with the analysis of judicial decisions on determining usable surface and indicates the problems emerging in practice while establishing the tenant ownership based on proportional co-ownership share of the real property. It also gives suggestions to passing a by-law on the procedure of tenant ownership study creation i.e. calculation of usable values of particular real property shares and usable values of all flats and other independent premises of the entire real property. Its goals are equal interpretation and application of tenant ownership by all parties to the procedure as well as legal security, uniform application of law and harmonisation of judicial practice. As a possible approach to the solutions in Croatian legal system the paper also analyses the regulation of tenant ownership in the Republic of Slovenia. In conclusion, it establishes the need for professional training of judges, court counsellors, court appointed expert witnesses, civil servants through application of a multidisciplinary approach to the issue of tenant ownership procedure based on other scientific disciplines e.g. civil engineering and economics.
In response to 1973 oil shock, both the Canadian and Norwegian states expanded public corporate ownership in the oil and gas industry. This thesis questions why the public share of total corporate ownership in the oil industry was greater in Norway than in Canada, and why Petro-Canada was privatized completely while Statoil was not. Two hypotheses are tested from a historical institutionalist perspective. First, the timing of oil development determined whether the private sector would establish itself as the dominant player in the oil and gas industry (in Canada) or not (in Norway) before the 1973 oil shock triggered government interest in public corporate ownership. Second, overlapping jurisdiction over oil resources (in Canada) undermined the effectiveness of mechanisms of reproduction of public corporate ownership. In Norway, the later discovery of oil thus gave the state a stronger bargaining position relative to the oil industry, and in a unitary state the uncontroversial redistributional activities of Statoil attracted more vested interests.
Eisenack, Klaus; Edenhofer, Ottmar; Kalkuhl, Matthias
Carbon dioxide emissions correspond to fossil resource use. When considering this supply side of climate protection, crucial questions come to fore. It seems likely that owners of fossil resources would object to emission reductions. Moreover, policy instruments such as taxes may not be effective at all: it seems individually rational to leave no fossil resources unused. In this context, it can be expected that economic sectors will react strategically to climate policy, aiming at a re-distribution of rents. To address these questions, we investigate the effectiveness, efficiency, and resource rents for energy taxes, resource taxes, and quantity rationing of emissions. The analysis is based on a game theoretic growth model with explicit factor markets and policy instruments. Market equilibrium depends on a government that acts as a Stackelberg leader with a climate protection goal. We find that resource taxes and quantity rationing achieve this objective efficiently, energy taxation is only second-best. The use of quantity rationing to achieve climate protection generates substantial rents for resource owners. - Highlights: ► Resource taxes and quantity rationing (carbon budgets) are efficient. ► Carbon budgets increase resource rents, while taxes decrease rents. ► Resource owners may support climate protection. ► Climate protection introduces a climate rent.
This publication examines alternative contracting and ownership approaches for the development, construction, commissioning, operation, and decommissioning of new nuclear power plants. It identifies issues faced by IAEA Member States considering the applicability of such approaches to their respective national programmes. Two new approaches to nuclear project development are analysed. These are, firstly, the Build-Own-Operate (BOO)/Build-Own-Operate-Transfer (BOO(T)) and, secondly, Regional approaches. The information includes practical examples, current practices, and case studies, and reflects the presentations and discussions that took place in a series of IAEA meetings on this topic
Strandskov, Jesper; Madsen, Tage Koed; Petersen, Bent
The paper develops an integrative ownership-internationalization model that explores the influences of various owner types (i.e. investor-owned firms, family-owned firms, employee-owned firms, cooperative–owned firms, and state-owned firms) on firm internationalization. Based on a comparative...... analysis of the various owner types, we discuss how each owner group’s main objectives, risk behavior and provision of resources influence their internationalization strategies and decisions (i.e. scale, scope and speed decisions)....
Perotti, E.; Vorage, M.
This paper investigates a politician's choice for state or private control of banks, anticipating how this choice influences actions by citizens seeking exclusive access to finance. We show that when political accountability is low, politicians prefer control over lending and funneling via state
Nam, Yunju; Lee, Eun Jeong; Huang, Jin; Kim, Junpyo
We examined financial capability and asset ownership among low-income older Asian immigrants with special attention given to later-age immigrants who came to the United States when they were 55 years old or older. Survey data collected from supported employment program participants (N = 150) were used. The analyses demonstrated a low level of financial knowledge and asset ownership in the sample. The findings also indicated that later-age immigrants' financial-management skills, knowledge of social programs, and asset ownership were significantly lower than those of young-age immigrants. These findings call for active interventions to enhance economic security among low-income older Asian immigrants.
It serves as an organizational unit in which members raise young ones ... Cultural and legal perspectives are very divergent on family land, joint ownership and on what ..... only ownership was more prominent among title deeds (84% vs 62%).
... 47 Telecommunication 1 2010-10-01 2010-10-01 false Ownership disclosure requirements for... PROCEDURE Competitive Bidding Proceedings General Procedures § 1.2112 Ownership disclosure requirements for... agreements, management agreements, franchise agreements, spectrum leasing arrangements, spectrum resale...
Ronald, R.; Elsinga, M.
In context of ongoing transformations in housing markets and socioeconomic conditions, this book focuses on past, current and future roles of home ownership in social policies and welfare practices. It considers owner-occupied housing in terms of diverse meanings and manifestations, but in
Beck, T.H.L.; Brown, M.
Theoretical and empirical work on banking emphasizes the role of banks in overcoming information asymmetries and agency problems between borrowers and lenders. This paper investigates the importance of bank ownership in determining the sorts of customers that a bank serves, and consequently, the
... channel block in a cellular geographic service area (CGSA) must report current ownership information if... in a cellular licensee, or a party that actually controls a cellular licensee, for the other channel... marketing arrangements with a cellular licensee, or its affiliate, shall be considered to have an...
Verkuyten, Maykel; Martinovic, Borja
Whereas much social psychological research has studied the in-group and out-group implications of social categorization and collective identity (“we”), little research has examined the nature and relevance of collective psychological ownership (“ours”) for intergroup relations. We make a case for
Olckers, Chantal; van Zyl, Llewellyn; Olckers, C.; van Zyl, L.; van der Vaart, L.
In the fields of psychology and management, psychological ownership has been identified as an important positive psychological predictor of workplace motives, attitudes and behaviours. Given its importance, the highly respected authors Avey, Avolio, Crossley, and Luthans (J Organ Behav 30:173-191,
Toscano, David J.
Explains three American forms of employee-owned companies. The Mock Conventional firm models its legal structure after conventional enterprises, with shares held primarily by employees. The Employee Stock Ownership Plan regulates the shareholding patterns of ESOP firms. The Producer Cooperative guarantees each member an equal voice in corporate…
Yang, Bijou; Lester, David
In a sample of 352 students, correlates of credit card ownership differed by sex. For both men and women, credit card ownership was predicted by their affective attitude toward credit cards. However, whereas for men concern with money as a tactic for gaining power predicted credit card ownership, for women feelings of insecurity about having sufficient money and having a conservative approach to money predicted credit card ownership.
Full Text Available The purpose of the article is to research the theoretical and practical aspects of foreign participation ownership structure of banks in Ukraine; to analyze the tendencies and challenges of structure regulation of bank ownership; to provide recommendations related to the role of enhancing the transparency of banking business. This research was conducted by way of review of the data on bank ownership and the regulation of the ownership structure of the banking sector in Ukraine.
Casiraghi, Leandro; Faigenbaum, Gustavo; Chehtman, Alejandro; Sigman, Mariano
In all domains, from informal to formal, there are conflicts about property and ownership which resolution demands consideration of alleged claims from more than one party. In this work we asked adults (N = 359) to judge cases in which a character held a property claim over an item, but is challenged by a second character who holds a different, subsequent claim over it. The specific goal of this work is to investigate how the resolution of such conflicts depends on the social endorsement of ownership claims. To achieve this aim, we designed variations of conflictive situations over property in which we manipulated details regarding the knowledge of the second agent of other third-parties about the first agent’s actions. In essence, our questions were: if an agent claims ownership of something which has a previous property claim on (1) does it matter whether said agent knew of the first’s agent actions or not? And (2) does it matter whether third parties were aware or notified of the first one’s claim? The results confirm that adults resolve the settling of property rights based not only on the nature of ownership claims but also on the social acknowledgment of such claims, in accordance with what is stipulated in legal systems worldwide. Participants considered the second character in the stories to hold a lesser right over the object under dispute when she knew of the first character’s claim. Participants also considered that the first character’s claim was reinforced when there were witnesses for her actions, but not when third parties were merely communicated of such actions. This is the first study to our knowledge that studies how social validation of ownership claims drives adults’ judgments on property claims. PMID:29440998
Syed Toqueer Akhter
Full Text Available Rent seeking behavior has been amongst noticeable obstacles in path of economic growth and development for developing communities. Due to this the study aims at testing the hypothesis that the Rent seeking behavior among bureaucracy is being influenced by the openness of economy as well as inflows of foreign investment significantly. Model estimations imply that reforms may have an insignificant impact upon impact upon curtailing the rent seeking behavior among bureaucracy in a time series setting therefore this research will use two statistical econometric models to show the effect of corruption on the foreign direct inflow received in Pakistan. In order to pretest the impact of all the mentioned variables on rent seeking behavior generalized least square was used because its results were unbiased, consistent and the problem of Serial correlation was solved by using it. In order to quantify rent seeking behavior among bureaucracy different aspects of misuse of public offices appearing in form of petty and grand corruption were used using the variables informal sector, tax evasion, judicial outlay, G.D.P and F.D.I as percentage of G.D.P. All of the variables had proper signs aligned with the theory and all of the variables appeared to be significant except judicial outlay proving that the judiciary has been incompetent and ineffective. The robust regression showed all the same signs except in it every variable was appearing to be significant. Rent seeking corruption has been highly affecting Pakistan in adverse ways and this paper will show how many factors like judiciary is not playing effective role in limiting corruption and also how the economy is being affected by rent seeking behavior.
... 29 Labor 5 2010-07-01 2010-07-01 false Change in business ownership. 1904.34 Section 1904.34 Labor Regulations Relating to Labor (Continued) OCCUPATIONAL SAFETY AND HEALTH ADMINISTRATION, DEPARTMENT OF LABOR... Requirements § 1904.34 Change in business ownership. If your business changes ownership, you are responsible...
Full Text Available We examine the relationship between ownership structure and corporate risk-taking in Japan over the sample periods of 2000 2010. Reflecting the ongoing changes in the ownership structure in Japan, we incorporate the various kinds of insider and outsider ownership in the analysis. Ownership such as concentrated ownership, ownership by closely related parties, financial institutions comprising banks and insurance companies and managers are categorized into inside ownership, while ownership by foreigners or financial institution such as investment trusts or pension funds are categorized into outside ownership. The ownership structure is found to have a different impact on the firm’s risk-taking behavior. The study shows that concentrated ownership or ownership by closely related parties affect the firm risks in a convex manner and encourages the firm management to take more risk when the firms have growth opportunities. On the other hand, ownership by financial institutions such as bank and insurance companies, does not seem to affect the firm risk level. This implies that the financial institutions fail to play their role of a shareholder monitor. When managerial ownership is allowed, it is found that Japanese managers’ incentives are aligned with those of shareholders. Contrary to the conventional entrenchment hypothesis, however, managers seem to take more risk as the share of managerial ownership increases. Foreign investors are found to enhance corporate risk-taking in a monotonic manner and do not bias corporate investment in a conservative direction in pursuit of their short-term gains. Domestic institutions such as investment trusts or pension funds are found to neither affect the firm risk level nor enhance the firm value.
Full Text Available Ownership with regard to human biological material (HBM is addressed to some extent within South African law, specifically in chapter eight of the National Health Act (NHA and its associated regulations. However, members of the legal fraternity struggle to conceptualise ownership of such materials without objectifying a person or people and risking reducing such individuals to a state of property. This then infers a reduction in human dignity by rendering one-self or parts of that same self as a commodity. The complexity of the issue raises much debate both legally as well as ethically.Â
Sloan, Frank A; Ostermann, Jan; Conover, Christopher J
This study assesses the determinants of conversions in hospital ownership from 1986 through 1996. To place such changes in context, we also analyze causes of hospital mergers and closures, which are often alternatives to hospital ownership conversion. A consistent result from our analysis is that an important antecedent of ownership conversions is a low profit margin. Conversions from private nonprofit or government ownership to for-profit status are preceded by chronically low margins and high debt-to-asset ratios. By contrast, conversions from for-profit ownership occur quickly following declines in margins. Many mergers seem motivated by a desire to increase market power--a consideration not evident for conversions.
moderne in zagovarja nujnost absolutne demokracije pri upravljanju, vzpostavljanju in dojemanju skupnega. /// English title: The Permanence of Primitive Accumulation, or: On the Private Property, Commodification and Return of the Rent /// Abstract: In his analysis of current social antagonisms, the author starts from a critique of political economy and focuses on two historically and politically/theoretically important concepts, without which it would not be possible to understand the development of the capitalist system and the way it currently functions: primitive accumulation and modern private property. Newer interpretations of the process of primitive accumulation (Perelman, DeAngelis, Harvey start from the premise that primitive accumulation is not just a historical period belonging to the past, but a necessarily present part of capital in its expansion and search for news ways out of recurring crises. This permanence of primitive accumulation, which Harvey refers to as accumulation-by-disposses sion, in which a key factor is the difference between the generation and existence of capital, helps us to understand the ever present processes of capital expansion and their often violent incorporation of various fields. Although these processes are an always-already-present characteristic of capitalism, by manifesting themselves, they have marked the past decades, when capital has attempted to resolve its own profitability crisis through financialisation and privatisation. At the same time, because the existence of the modern form of private property has appeared as an important condition for capitalist accumulation and as that element which facilitates the effective functioning, development and expansion of capitalist relations of production, at the beginning of the article, this socially constructed phenomenon of modern society, which, through a process of reductionism, makes it almost impossible to consider different forms of ownership such as common forms of property
Cline, Krista Marie Clark
The purpose of this study is to examine the link between multiple roles and depression and to attempt to provide a clearer answer to the question of what effect, if any, the role of dog ownership plays. Role strain and role enhancement theories are drawn upon to study this relationship. Ordinary least squares regression is used to examine a national sample of 201 adults in the United States. Findings revealed sex and marital status differences in the relationship between dog ownership and well-being, with women and single adults more likely to benefit from dog ownership. The findings presented here suggest that inattention to variations in marital status and sex may have been one factor in the inconsistency in the literature on pets and well-being.
Harrington, C; Woolhandler, S; Mullan, J; Carrillo, H; Himmelstein, D U
Two thirds of nursing homes are investor owned. This study examined whether investor ownership affects quality. We analyzed 1998 data from state inspections of 13,693 nursing facilities. We used a multivariate model and controlled for case mix, facility characteristics, and location. Investor-owned facilities averaged 5.89 deficiencies per home, 46.5% higher than nonprofit facilities and 43.0% higher than public facilities. In multivariate analysis, investor ownership predicted 0.679 additional deficiencies per home; chain ownership predicted an additional 0.633 deficiencies. Nurse staffing was lower at investor-owned nursing homes. Investor-owned nursing homes provide worse care and less nursing care than do not-for-profit or public homes.
Chen, Hong; Feng, Qun; Cao, Jing
There are extensive governmental rent-seeking activities in safety supervision of the Chinese coal industry. The rents come from industry safety barriers, low resource taxes, and privilege policies for coalmining enterprises. The rent-seeking mechanism was analyzed using a model comprising dynamic games with incomplete information. The equilibrium results indicate that the probability of national supervision is influenced by penalties and bribery: there is negative correlation with penalties and positive correlation with bribery. The rent-seeking probability of a governmental safety supervision department is influenced by several factors, and positively correlates with the cost of national supervision. The probability of bribery of coalmining enterprises is influenced by several factors, and positively correlates with wages of governmental departments and a reasonable rent-seeking range. Reversed rent-seeking reduces the probability of bribery, but it's not worth recommending. Some recommendations are proposed. - Highlights: • We analyze rent-seeking mechanism for safety supervision in the coal industry. • A dynamic game with incomplete information for Chinese coal industry is built. • Reversed rent-seeking is proposed as a new rent-seeking form. • We analyze the selection probability of the three participants. • We give some policies about how to enhance safety supervision
This paper aims to contribute to the relatively small amount of academic literature on the efficiency of nuclear power production. The author draws on world-wide comparisons to illustrate the situation in the United Kingdom, where the nuclear generating capacity, conceived of and constructed as a public concern, has recently been privatised. The theory and evidence for links between ownership and productive efficiency is received. Efficiency measures used are explained as are the linear programs required to generate them. Data Envelopment Analysis (DEA) is used to analyse productive efficiency of nuclear power plants before and after privatisation. Results of the DEA are used to test the hypothesis that ownership has no effect on productive efficiency. (UK)
Serino, Andrea; Alsmith, Adrian John Tetteh; Costantini, Marcello
Recent research on bodily self-consciousness has assumed that it consists of three distinct components: the experience of owning a body (body ownership); the experience of being a body with a given location within the environment (self-location); and the experience of taking a first-person, body......-centered, perspective on that environment (perspective). Here we review recent neuroimaging studies suggesting that at least two of these components—body ownership and self-location—are implemented in rather distinct neural substrates, located, respectively, in the premotor cortex and in the temporo-parietal junction....... We examine these results and consider them in relation to clinical evidence from patients with altered body perception and work on a variety of multisensory, body-related illusions, such as the rubber hand illusion, the full body illusion, the body swap illusion and the enfacement illusion. We...
Perez Esparza, David; Hemenway, David
Gun violence has increased in Mexico since the mid-2000s, but little is known about patterns of gun ownership. We examine the size and composition of the privately held urban firearm stock in Mexico, motivations for ownership, and attitudes about gun laws. To this end, a household telephone survey of 1361 adults living in nine Mexican cities was conducted in the summer of 2017. We find that few urban Mexican households contain guns. Most of those who report ownership possess one gun, having purchased it recently for self-defense. Few urban Mexican citizens plan to purchase a gun in the future. Respondents are more likely to believe that crime in Mexico would increase if guns were allowed in more places (ie, workplaces and motor vehicles). Evidence suggests urban Mexico has relative low rates of firearm ownership. Few city dwellers plan on obtaining a firearm in the near future. © Article author(s) (or their employer(s) unless otherwise stated in the text of the article) 2017. All rights reserved. No commercial use is permitted unless otherwise expressly granted.
Bangalore, Sripal; Messerli, Franz H
A variety of claims about possible associations between gun ownership rates, mental illness burden, and the risk of firearm-related deaths have been put forward. However, systematic data on this issue among various countries remain scant. Our objective was to assess whether the popular notion "guns make a nation safer" has any merits. Data on gun ownership were obtained from the Small Arms Survey, and for firearm-related deaths from a European detailed mortality database (World Health Organization), the National Center for Health Statistics, and others. Crime rate was used as an indicator of safety of the nation and was obtained from the United Nations Surveys of Crime Trends. Age-standardized disability-adjusted life-year rates due to major depressive disorder per 100,000 inhabitants with data obtained from the World Health Organization database were used as a putative indicator for mental illness burden in a given country. Among the 27 developed countries, there was a significant positive correlation between guns per capita per country and the rate of firearm-related deaths (r = 0.80; P ownership and mental illness as independent covariates, gun ownership was a significant predictor (P <.0001) of firearm-related deaths, whereas mental illness was of borderline significance (P = .05) only. The number of guns per capita per country was a strong and independent predictor of firearm-related death in a given country, whereas the predictive power of the mental illness burden was of borderline significance in a multivariable model. Regardless of exact cause and effect, however, the current study debunks the widely quoted hypothesis that guns make a nation safer. Copyright © 2013 Elsevier Inc. All rights reserved.
Cremer, Helmuth; Crémer, Jacques; De Donder, Philippe
This paper studies the impact of legal unbundling vs ownership unbundling on the incentives of a network operator to invest and maintain its assets. We consider an industry where the upstream firm first chooses the size of a network, while several downstream firms then compete in selling goods and services that use this network as a necessary input. We contrast the (socially) optimal allocation with several equilibrium situations, depending on whether the upstream firm owns zero, one or two d...
Nugroho, Lukito Adi
Background: For over 40 years, the franchise ownership redirection hypothesis has attracted the attention of many scholars. This study, differing from previous ones, proposes an alternative approach for this hypothesis using a real options framework with the extension of agency theory. Method: The real options model is built using the least square Monte Carlo method, where the franchisor's decision to franchise is perceived as a deferred investment while maintaining the right of future acquis...
This article starts with a literary review of the conceptual frames through which esport has been labeled academically. It shows how the concept of “electronic” has been taken as the core term for labelingesport, often accompanied by a strong emphasis on “professionalism.” The literary review is followed by the submission of an alternative conceptual frame based on the economic notion of executive ownership, which provides a theoretical grounding for esport as a cultural phenomenon. In accord...
Grabowski, David C; Stevenson, David G
To examine the effects of ownership conversions on nursing home performance. Online Survey, Certification, and Reporting system data from 1993 to 2004, and the Minimum Data Set (MDS) facility reports from 1998 to 2004. Regression specification incorporating facility fixed effects, with terms to identify trends in the pre- and postconversion periods. The annual rate of nursing home conversions almost tripled between 1994 and 2004. Our regression results indicate converting facilities are generally different throughout the pre/postconversion years, suggesting little causal effect of ownership conversions on nursing home performance. Before and after conversion, nursing homes converting from nonprofit to for-profit status generally exhibit deterioration in their performance, while nursing homes converting from for-profit to nonprofit status generally exhibit improvement. Policy makers have expressed concern regarding the implications of ownership conversions for nursing home performance. Our results imply that regulators and policy makers should not only monitor the outcomes of nursing home conversions, but also the targets of these conversions.
Geisler Asmussen, Christian; Nielsen, Bo Bernhard; Goerzen, Anthony
Purpose: In this paper, we develop a more nuanced view of subnational location choice with a particular focus on global cities. We argue that multinational firms may use global cities to establish bridgeheads—subsidiaries at intermediate levels of the ownership chain that enable further internati......Purpose: In this paper, we develop a more nuanced view of subnational location choice with a particular focus on global cities. We argue that multinational firms may use global cities to establish bridgeheads—subsidiaries at intermediate levels of the ownership chain that enable further...... of these investments are associated with micro-location choices in a host country. Findings: We find that there are substantial differences between the types, roles, activities, and geographic origins of the firms locating in different areas, and in the ownership structures spanning them. We propose that this has...... managerial and theoretical implications which may be understood based on an organizing framework describing a tradeoff between the pursuit of global connectivity and local density on the one hand, and cost control on the other. Research limitations/implications: Empirical work on foreign location choices...
Full Text Available Possession is prima facie evidence of ownership. Possession is ninetents of the law, means that possession is good against all other, except the true owner. The possession ripens into ownership if it is qualified and by effluxion of time. In Serbian law there are two kinds of adverse possession ripens into ownership. The first one is named ordinary and second one extraordinary adverse possession. Ordinary possession need to be legal, conscientious and genuine. Extraordinary possession is only conscientious, but in a wide sense. Adverse possession destroys the title of the owner and vests it in possessor. An occupation of land inconsistent with the right of the true owner: the possession of those against whom a right action has accured to the true owner. It is actual possession in the absence of possession by the rightful owner and without lawful title. If the adverse possession continues, the effect at the expiration of the prescribed period is that not only the remedy but the title of former owner is extinguished. The person in adverse possession gains a new possessory title which cannot, normally exceed in extent of duration the interest of the former owner.
Full Text Available In this paper we investigate the relationship between family ownership structure and corporate value across a sample of 1314 firm-year observations of China’s family publicly listed companies (PLCs, from 2004 to 2008. We find a significant inverse-U-shaped relationship between the controlling family’s ultimate cash-flow rights and corporate value; as measured by Tobin’s Q. That is, as family-ownership concentration increases, corporate value first increases and then decreases. This finding refreshes our understanding of the relationship between family-ownership concentration and corporate value in emerging economies such as found in China. We corroborate prior findings that when controlling families hold excess control over cash-flow rights, corporate value is significantly lowered, while multiple large shareholders structure is significantly associated with higher corporate value. In addition; board independence is found to significantly improve corporate value in the context of family-concentrated ownership. We also test for potential endogeneity between family ownership and corporate value and find our results to be robust.
Brandt, Urs Steiner; Svendsen, Gert Tinggaard
reduction. Our main question is whether the final choice of allocation rule can be explained by potential industrial net winners involved in the policy making process. We answer this question by using rent-seeking theory and by analysing the Green Paper hearing replies from the main industrial groups....... In other words, we want to explain and observe how rent-seeking (or lobbyism) affects the design of environmental regulation and energy policy in favour of well-organized industrial interest groups. We argue that some firms are likely to reap a net gain from being regulated by a grandfathered emission...
Desde 1920, la economía venezolana descansa sobre una estructura cuyo principal determinante es la renta del petróleo. Cabe así hablar, para darle un nombre propio, de capitalismo rentístico. Con el apoyo primario de una definición operativa de la renta petrolera que permite la introducción de un nuevo concepto contable, el producto interno bruto no rentístico, aquí se buscar darle su caracterización cuantitativa en términos de ciertos indicadores especialmente relevantes, a saber: la relació...
Stephanie O. Crofton
Full Text Available The bubonic plague that swept England in 1349 provides an example of how changes in economic conditions can change norms of social behavior. The death of almost 50 percent of the population altered the returns to labor and land. As the demand for land and the supply of labor declined, rents fell and wages rose. This increased wage-to-rent ratio shifted the structure of the economy from household production to market production. In turn, these changes affected migration, family and community ties, women s labor force participation, family size, inheritance customs, the status of landowning widows, and care for the elderly.
Jorge Enrique Agudelo Torres
Full Text Available Researchers have determined that real estate prices vary in continuous ways as a function of spatial characteristics. In this study we examine whether geographically weighted regression (GWR provides different estimates of price effects around a sports stadium than more traditional regression techniques. We find that an application of GWR with hedonic prices finds that the stadium has a negative external effect on housing rents that extends outward 560 meters, in contrast to the positive external effect on housing rents found using a conventional estimation technique.
Hvid, Anna; Henningsen, Geraldine
Price induced increases in land rents trigger an increasing incentive for rent- seeking behavior. To analyse distributional and welfare eects of increasing land rents in developing countries, we develop a game theoretic model where a large and heterogeneous group of farmers competes with a small...... and wealthy elite. The results indicate that only relatively small rent increases benet the farmers more than the elite. Moreover, political institutions have an ambiguous eect on farmers' rent share, and may even reduce overall welfare, because they induce wasteful expenditure on rent-seeking....
... or business. B claims to have purchased the property from C's father. However, C asserts that the... succession upon the death of C's father. For several years, B has maintained and received the rent from the...
... Voucher Program--Demonstration Project of Small Area Fair Market Rents in Certain Metropolitan Areas for.... ACTION: Notice of Demonstration Project of Small Area Fair Market Rents (FMRs) in Selected Metropolitan... topics related to small area FMRs, including how these small areas should be defined. Small area FMRs...
... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5525-N-01] Use of Small Area Fair Market Rents for Project Base Vouchers in the Dallas TX Metropolitan Area AGENCY: Office of the Assistant... Small Area Fair Market Rents (SAFMRs) for Project-Based Vouchers (PBVs) located in the Dallas, TX...
Wen, Chieh-Hua; Chiou, Yu-Chiun; Huang, Wan-Ling
This study aims to develop motorcycle ownership and usage models with consideration of the state dependence and heterogeneity effects based on a large-scale questionnaire panel survey on vehicle owners. To account for the independence among alternatives and heterogeneity among individuals, the modeling structure of motorcycle ownership adopts disaggregate choice models considering the multinomial, nested, and mixed logit formulations. Three types of panel data regression models--ordinary, fixed, and random effects--are developed and compared for motorcycle usage. The estimation results show that motorcycle ownership in the previous year does exercise a significantly positive effect on the number of motorcycles owned by households in the current year, suggesting that the state dependence effect does exist in motorcycle ownership decisions. In addition, the fixed effects model is the preferred specification for modeling motorcycle usage, indicating strong evidence for existence of heterogeneity. Among various management strategies evaluated under different scenarios, increasing gas prices and parking fees will lead to larger reductions in total kilometers traveled. Copyright © 2011 Elsevier Ltd. All rights reserved.
In recent years, a global increase in demand for agricultural commodities and land has contributed to increasing agricultural prices. This trend can be expected to continue in the future, and may result in significantly higher land rents. This paper investigates the potential distributional effec...
The clean development mechanism (CDM) should foster sustainable development and greenhouse gas emission reductions. The design of the CDM and first experience suggest that it may not achieve these goals. Developing countries hosting CDM projects may lose cheap emission reduction possibilities for their own future use, and sustainable development and technology transfer may not take place. On the other hand, the CDM has the potential to generate considerable rents if permit prices are high or costs low. To account for equity and distributional issues, a deliberate decision on how to distribute these rents could be taken and the potential failure of the CDM in meeting its goals calls for some further regulation. I suggest to combine these two issues and to extract the rents by a profit tax. Ideally, the tax revenues could contribute to national sustainable development strategies, to offset external costs imposed by CDM projects and to extract part of the resource rent they may generate. The international character of the CDM could offer a frame for internationally coordinated tax design. This would hedge against a potential race to the bottom
... URBAN DEVELOPMENT PROJECT-BASED VOUCHER (PBV) PROGRAM Rent to Owner § 983.304 Other subsidy: effect on...) Subsidized projects. (1) This paragraph (c) applies to any contract units in any of the following types of... non-insured Section 236 project that continues to receive Interest Reduction Payment following a...
Tsharakyan, Ashot; Zemčík, Petr
Roč. 24, č. 2 (2016), s. 335-360 ISSN 0967-0750 Institutional support: PRVOUK-P23 Keywords : Czech Republic * rent regulation and deregulation * real estate prices Subject RIV: AH - Economics Impact factor: 0.479, year: 2016
Tsharakyan, Ashot; Zemčík, Petr
Roč. 24, č. 2 (2016), s. 335-360 ISSN 0967-0750 R&D Projects: GA ČR(CZ) GAP404/12/1446 Institutional support: RVO:67985998 Keywords : Czech Republic * rent regulation and deregulation * real estate prices Subject RIV: AH - Economics Impact factor: 0.479, year: 2016
Full Text Available Gordon Tullock is acknowledged for being the first to recognize the true costs of rent-seeking as including not only the Harberger triangle but also the Tullock rectangle. This rectangle does not constitute merely a lossless transfer of wealth, but it causes a misallocation of resources as rent-seekers invest resources in lobbying. However, a close reading of Tullock’s writings shows that his arguments are formulated in a holistic fashion, speaking of what is efficient or inefficient for society. Rent-seeking is inefficient because it reduces societal welfare. But according to a methodologically individualist and subjectivist economics, such a claim is invalid. We must distinguish between positive economic fact and normative moral philosophy. We call for a reconstruction of utility and welfare economics based on methodological individualism and subjectivism with implications for the theories of monopoly and competition: practices which Neoclassical perfect-competition theory considers to be evidence of rent-seeking should instead be deemed as indications of genuine competition Political economy should be concerned with ascertaining which institutions will best enable individuals to pursue their individually subjective ends – or else economists should be explicit about their normative preferences and political philosophies.
Dobbelaere, S.; Mairesse, J.
Empirical labor economists have resorted to estimating the responsiveness of workers' wages on firms' ability to pay to assess the extent to which employers share rents with their employees. This paper compares this labor economics approach with two other approaches that rely on standard micro
..., Washington, DC 20410- 0001. Communications should refer to the above docket number and title and should.... Public Inspection of Comments. All comments and communications submitted to HUD will be available... FMRs, HUD tests these rent changes for statistical significance \\3\\ [GRAPHIC] [TIFF OMITTED] TN04AU10...
Eggert, Wolfgang; Sørensen, Peter Birch
We set up a probabilistic voting model to explore the hypothesis that tax competition improves public sector efficiency and social welfare. In the absence of tax base mobility, distortions in the political process induce vote-maximising politicians to create rents to public sector employees...
Eggert, Wolfgang; Sørensen, Peter Birch
We set up a probabilistic voting model to explore the hypothesis that tax competition improves public sector efficiency and social welfare. In the absence of tax base mobility, distortions in the political process induce vote-maximising politicians to create rents to public sector employees...
...; or (2) All other space: Either GSA's space charges for 4 months plus the cost of tenant improvements or GSA's actual costs, whichever is less. ... PROPERTY 85-PRICING POLICY FOR OCCUPANCY IN GSA SPACE Rent Charges § 102-85.145 When are customer agencies...
... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Fair market rents for existing... DIRECT LOAN PROGRAM, SECTION 202 SUPPORTIVE HOUSING FOR THE ELDERLY PROGRAM AND SECTION 811 SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES PROGRAM) SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM-FAIR MARKET...
... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Fair market rents for existing... DIRECT LOAN PROGRAM, SECTION 202 SUPPORTIVE HOUSING FOR THE ELDERLY PROGRAM AND SECTION 811 SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES PROGRAM) SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM-FAIR MARKET...
Bena, Jan; Hanousek, Jan
-, č. 291 (2006), s. 1-45 ISSN 1211-3298 R&D Projects: GA ČR GA402/06/1293 Institutional research plan: CEZ:AV0Z70850503 Keywords : rent extraction * large shareholders * corporate governance Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp291.pdf
31 janv. 2014 ... Effet de la substrats culturaux sur paramètres de croissance ... des graines, mais ce substrat a donné des performances acceptables sur la croissance longitudinale des ..... élevés en conteneurs sur différents types de.
Oxley, M.; Brown, T.; Haffner, M.; Hoekstra, J.
The size of the private rented housing sector (PRS) varies markedly between coun-tries. The paper explores the role of policy in supporting the PRS with emphasis on the evidence from France, Germany, the UK and the USA. The definition and meas-urement of the size of the sector in each country is
Oxley, M.; Brown, T.; Haffner, M.; Hoekstra, J.; Lishman, R.
The paper considers the role of the private rented sector in supplying housing that can be defined as social housing. It will do this by considering policy initiatives in Germany, France, the USA and England that use privately owned housing to meet social needs. The operation of these initiatives
Afin d'établir une classification des machines d'embouteillage, on peut, comme dans toutes les tentatives de ce genre, utiliser différents critères. De prime abord, le plus important nous semble être de distinguer entre les tireuses à niveau constant et les tireuses volumétriques
Kposowa, Augustine J
The purpose of the study was to examine the association of suicide rates, firearm ownership, political conservatism, religious integration at the state level, and individual suicide risk. Social structural and social learning and social integration theories were theoretical frameworks employed. It was hypothesized that higher suicide rates, higher state firearm availability, and state conservatism elevate individual suicide risk. Data were pooled from the Multiple Cause of Death Files. Multilevel logistic regression models were fitted to all deaths occurring in 2000 through 2004 by suicide. The state suicide rate significantly elevated individual suicide risk (AOR = 1.042, CI = 1.037, 1.046). Firearm availability at the state level was associated with significantly higher odds of individual suicide (AOR = 1.004, CI = 1.003, 1.006). State political conservatism elevated the odds of individual suicides (AOR = 1.005, CI = 1.003, 1.007), while church membership at the state level reduced individual odds of suicide (AOR = 0.995, CI = 0.993, 0.996). The results held even after controlling for socioeconomic and demographic variables at the individual level. It was concluded that the observed association between individual suicide odds and national suicide rates, and firearm ownership cannot be discounted. Future research ought to focus on integrating individual level data and contextual variables when testing for the impact of firearm ownership. Support was found for social learning and social integration theories.
Hanauer, D I; Frederick, J; Fotinakes, B; Strobel, S A
We used computational linguistic and content analyses to explore the concept of project ownership for undergraduate research. We used linguistic analysis of student interview data to develop a quantitative methodology for assessing project ownership and applied this method to measure degrees of project ownership expressed by students in relation to different types of educational research experiences. The results of the study suggest that the design of a research experience significantly influences the degree of project ownership expressed by students when they describe those experiences. The analysis identified both positive and negative aspects of project ownership and provided a working definition for how a student experiences his or her research opportunity. These elements suggest several features that could be incorporated into an undergraduate research experience to foster a student's sense of project ownership.
Full Text Available This study seeks to examine the impact of Block Ownership structure on Credit Ratings in OECD countries. This research seeks to contribute to the extant literature by exploring the effects of Corporate Governance (CG mechanisms on corporate credit ratings. The study uses a panel data of 200 companies from Anglo American and European countries between 2010 and 2014. The ordinary least square regression is used to examine the relationships. Additionally, to alleviate the concern of potential endogeneity, we use fixed effect regression, two-stage least squares using instrumental variables. The results show there is a negative and significant relationship between block ownership and credit ratings, with a greater significance among Anglo American countries than among European countries. The rationale for this is that Anglo-American system gives preferential treatment to individual shareholders and its accounting tradition leads to a decline in risk and increase in credit ratings. The result is consistent with the multi-theoretical framework predictions derived from the agency and stewardship theories. Future research could investigate credit ratings using other credit rating agencies, selecting a larger sample that includes small, mid-size and large companies. This paper extends, as well as contributes to extant CG literature by offering new evidence on the effect of block ownership on credit ratings between two different traditions. This will be explored by employing firm-level CG mechanisms by accounting for control variables. The findings will help regulators and policymakers in OECD countries in evaluating the adequacy of current CG reforms to prevent management misconduct and scandals.
Douglas, David M
Software ownership allows the owner to restrict the distribution of software and to prevent others from reading the software's source code and building upon it. However, free software is released to users under software licenses that give them the right to read the source code, modify it, reuse it, and distribute the software to others. Proponents of free software such as Richard M. Stallman and Eben Moglen argue that the social disutility of software ownership is a sufficient justification for prohibiting it. This social disutility includes the social instability of disregarding laws and agreements covering software use and distribution, inequality of software access, and the inability to help others by sharing software with them. Here I consider these and other social disutility claims against withholding specific software rights from users, in particular, the rights to read the source code, duplicate, distribute, modify, imitate, and reuse portions of the software within new programs. I find that generally while withholding these rights from software users does cause some degree of social disutility, only the rights to duplicate, modify and imitate cannot legitimately be denied to users on this basis. The social disutility of withholding the rights to distribute the software, read its source code and reuse portions of it in new programs is insufficient to prohibit software owners from denying them to users. A compromise between the software owner and user can minimise the social disutility of withholding these particular rights from users. However, the social disutility caused by software patents is sufficient for rejecting such patents as they restrict the methods of reducing social disutility possible with other forms of software ownership.
I chose for my diploma thesis the theme which is called "Creation and cessation of the land ownership right - legal forms". The aim of the work is to give complex and complete description of basic legal forms of acquiring ownership right to land. The presented work is divided into ten chapters. The first part (second chapter) of the diploma thesis determines the concepts of "ownership", "real estate", "land", "plot" etc. According to Czech law concept of "real estate" means mainly under groun...
Isaiah, Chioma; Li, Meng (Emma)
This paper examines the relationship between the level of institutional ownership andrisk-adjusted return on stocks. We find a significant positive relationship between the level ofinstitutional ownership on a stock and its risk-adjusted return. This result holds both in the longrun and in shorter time periods. Our findings suggest that all things being equal, it is possible toobtain risk-adjusted return by going short on the stocks with low institutional ownership andgoing long on those with...
This paper provides empirical evidence on the determinants of foreign ownership in manufacturing industries. Foreign ownership, according to the theory of international production, is the result of the combination of comparative and competitive advantage. An adequate examination of the ownership structure of an industry requires the ability to establish empirically the extent to which international competitiveness of firms rests on comparative and competitive advantage. Analysis is based on a...
Farooq, Omar; El Kacemi, Youssef
of the agency problems embedded in their ownership structure, appoint one of big-four auditors as their external auditor to signal the market that they are disclosing reliable information. Our results also show a significantly positive relationship between ownership concentration and the choice of auditor. We......, further, show that for a given level of ownership concentration, appointing one of the big-four auditors lead to superior firm performance....
Transformation of economic and political course in the last decade in Russia has evoked big changes in the main agent of techno-genic risk, companies concerned with production, storage, recycling, and transportation of chemical, biological, energetic, etc. products. The basic aspect of the changes is the 'denationalizing' transformation of ownership, from state to shareholder or private, providing instability both during and, mainly, after the process of transformation, in cases of 'refreezing' the inadequate 'new order of things'. The transformation is hindered by compressed and indefinite terms of transformation, worsening of financial level of companies due to their 'transitional' status, struggle for power within and outside the companies initiated by provocative and dangerous actions by different fighting groups and forces in the firms, factories, and industry branches. The paper is written on the basis of in-depth expert interviews and clarifies the peculiarities of the risky transformation. (author)
Full Text Available This paper analyzes the legal norms which regulate leasing of agricultural land in public ownership. The basic hypothesis is that the main goal of land leasing should be to achieve an efficient allocation and maximization of public rental income. It was concluded that we should eliminate all restrictions that serve as barriers to market allocation. These include provisions that restrict some groups from participating in the land lease auctions, then the preemptive right of lease, as well as the ban on subleasing. It also criticizes the application of the principles of affectation, or restriction of freedom of local governments in the use of funds received from land leasing.
Full Text Available This article starts with a literary review of the conceptual frames through which esport has been labeled academically. It shows how the concept of “electronic” has been taken as the core term for labelingesport, often accompanied by a strong emphasis on “professionalism.” The literary review is followed by the submission of an alternative conceptual frame based on the economic notion of executive ownership, which provides a theoretical grounding for esport as a cultural phenomenon. In accordance with the above, the article concludes with a reframed look at the history of esport and suggests commercial analog gaming (especially Magic: The Gathering as its point of origin.
Full Text Available We investigate two issues about the subjective experience of one’s body: first, is the experience of owning a full-body fundamentally different from the experience of owning a body-part? Second, when I experience a bodily sensation, does it guarantee that I cannot be wrong about whether it is me who feels it? To address these issues, we conducted a series of experiments that combined the rubber hand illusion (RHI and the body swap illusion. The subject wore a head mounted display (HMD connected with a stereo camera set on the experimenter’s head. Sitting face to face, they used their right hand holding a paintbrush to brush each other’s left hand. Through the HMD, the subject adopted the experimenter’s first-person perspective (1PP as if it was his/her own 1PP: the subject watched either the experimenter’s hand from the adopted 1PP, and/or the subject’s own hand from the adopted third-person perspective (3PP in the opposite direction (180°, or the subject’s full body from the adopted 3PP (180°, with or without face. The synchronous full-body conditions generate a self-touching illusion: many participants felt that I was brushing my own hand! We found that (1 the sense of body-part ownership and the sense of full-body ownership are not fundamentally different from each other; and (2 our data present a strong case against the mainstream philosophical view called the immunity principle (IEM. We argue that it is possible for misrepresentation to occur in the subject’s sense of experiential ownership (the sense that I am the one who is having this bodily experience. We discuss these findings and conclude that not only the sense of body ownership but also the sense of experiential ownership call for further interdisciplinary studies.
Among all Treaties on the Foundation of the European Community, seemingly, the Euratom Treaty ist the most unobtrusive one having even nearly been declared dead occasionally. For the opponents of nuclear energy the treaty is a thorn in their side because it aims for the peaceful exploitation of nuclear energy. Actually, the treaty likewise aims for the protection of dangers of nuclear energy and encloses a bundle of collective control instruments. The protective purpose provides the community with a strong position in numerous fields towards nuclear energy users including the right to intervene in the operations of nuclear facilities. The communitie's position is further strengthened by the communitie's ownership on special fissile materials. The EAEC Treaty determines: 'Special fissile materials are owned by the community'. The material content of Euratom's ownership is limited by Article 87 of the EAEC Treaty: Unlimited right of use and consumption is granted to the properly possessors unless obligations of the Euratom Treaty oppose. Inherently, the community does not have these rights. It was asked what would be left to the owner Euratom if the properly possessor is entitled to unlimited right of use and even right of consumption.
Full Text Available Using the paradigmatic example of Catalunya Banc, this paper analyses the Spanish varieties of the new financial engineering used to appropriate urban rent by home dispossession. It aims to contribute to the study of the new forms of financialization that have appeared since 2008. Particular attention is given to the role of the state, the emergence of private equity funds as global real estate owners and how this has translated into a wave of evictions due to mortgage foreclosures. In short, this article highlights the implications of the uneven development resulting from the exhaustion of the so-called Spanish model of accumulation during the real estate boom years.
Harrington, Charlene; Woolhandler, Steffie; Mullan, Joseph; Carrillo, Helen; Himmelstein, David U
Quality problems have long plagued the nursing home industry. While two-thirds of U.S. nursing homes are investor-owned, few studies have examined the impact of investor-ownership on the quality of care. The authors analyzed 1998 data from inspections of 13,693 nursing facilities representing virtually all U.S. nursing homes. They grouped deficiency citations issued by inspectors into three categories ("quality of care," "quality of life," and "other") and compared deficiency rates in investor-owned, nonprofit, and public nursing homes. A multivariate model was used to control for case mix, percentage of residents covered by Medicaid, whether the facility was hospital-based, whether it was a skilled nursing facility for Medicare only, chain ownership, and location by state. The study also assessed nurse staffing. The authors found that investor-owned nursing homes provide worse care and less nursing care than nonprofit or public homes. Investor-owned facilities averaged 5.89 deficiencies per home, 46.5 percent higher than nonprofit and 43.0 percent higher than public facilities, and also had more of each category of deficiency. In the multivariate analysis, investor-ownership predicted 0.679 additional deficiencies per home; chain-ownership predicted an additional 0.633 deficiencies per home. Nurse staffing ratios were markedly lower at investor-owned homes.
Alessie, R.J.M.; Hochgürtel, S.; van Soest, A.H.O.
In many industrial countries, ownership rates of risky assets have risen substantially over the past decade.This trend has potentially wide-ranging implications for the intertemporal and cross-sectional allocation of risk, and for the macro economy, establishing the need for understanding ownership
... Report AGENCY: Commodity Futures Trading Commission (``Commission''). ACTION: Extension of comment period... Report'' must be in the subject field of responses submitted via e-mail, and clearly indicated on written... certain ownership and control information via an account ``Ownership and Control Report'' submitted weekly...
On the Sense of Ownership of a Community Integration Project: Phenomenology as Praxis in the Transfer of Project Ownership from Third-Party Facilitators to a Community after Conflict Resolution. ... Alternatively, you can download the PDF file directly to your computer, from where it can be opened using a PDF reader.
... franchise area served by that cable operator's cable system, either directly or indirectly through an... CABLE TELEVISION SERVICE Ownership of Cable Systems § 76.501 Cross-ownership. (a)-(c) [Reserved] (d) No... control with the cable operator, offer SMATV service within its franchise area if the cable operator's...
K. Biekart (Kees); A.F. Fowler (Alan)
textabstractThe nature and dynamics of ownership are often neglected features of multi-stakeholder initiatives (MSIs). Seventeen cases in four countries illustrate characteristics of narrow government or broad societal ownership and forces for change over time. Refinements to the application of
Ross, Hildy S.
This study examined property conflicts in thirty-two 20-and 30-month-old peer dyads during eighteen 40-min play sessions. Ownership influenced conflicts. Both 20- and 30-month-old owners claimed ownership ("mine") and instigated and won property conflicts more often than non-owners. At 30 months, owners also resisted peers' instigations more often…
... (CONTINUED) INCOME TAXES (CONTINUED) Foreign Personal Holding Companies § 1.552-3 Stock ownership requirement... more than 50 percent in value of the outstanding stock of the foreign corporation be owned, directly or... section 544 (relating to rules for determining stock ownership in the case of personal holding companies...
Donelli, M.; Urzua Infante, F.; Larrain, B.
We study the empirical determinants of corporate ownership dynamics in a market where large shareholders are prevalent. We use a unique, hand-collected 20-year dataset on the ownership structure of Chilean companies. Controllers’ blockholdings are on average high -as in continental Europe, for
Salmon, Jo; Timperio, Anna; Chu, Binh; Veitch, Jenny
This study aimed to determine cross-sectional associations of dog ownership, dog walking, and physical activity (PA) among children and their parents. Objective measures of PA were obtained for children ages 5-6 and 10-12 years from 19 primary schools across Melbourne, Australia. Parents self-reported their PA, dog ownership, and frequency of dog…
Responding to cultural concerns about the ownership of writing and the nature of plagiarism, this article examines discourses about plagiarism by ESL students and argues for a plurality of approaches to understanding the ownership of language and textual appropriation. First, it uses speech act theory to explain the dynamics of plagiarism; second,…
This paper examined a number of predictors of mobile phone ownership amongst fish and vegetable sellers in Yola Metropolis, Nigeria. Using regression path analysis, it identified the causal pattern of mobile phone ownership for Male and Female in the study area. Although there were few significant differences between ...
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false FCU ownership of fixed assets. 701.36 Section... ORGANIZATION AND OPERATION OF FEDERAL CREDIT UNIONS § 701.36 FCU ownership of fixed assets. (a) Investment in Fixed Assets. (1) No Federal credit union with $1,000,000 or more in assets may invest in any fixed...
... business hours in the FCC Reference Center, 445 12th Street SW., Washington, DC 20554, and may also be.... The recently released Ownership Report confirms that minority and female ownership numbers remain low... latest step in the Commission's ongoing efforts to collect and publicly release minority and female...
Jun 6, 2016 ... Download the Gender, Livestock and Asset Ownership brief (PDF, 726 KB, available in English only). This document summarizes findings presented in the book “Women, Livestock Ownership and Markets: Bridging the Gender Gap in Eastern and Southern Africa” produced by the International Livestock ...
Full Text Available The ownership of RFID tag is often transferred from one owner to another in its life cycle. To address the privacy problem caused by tag ownership transfer, we propose a tag privacy model which captures the adversary’s abilities to get secret information inside readers, to corrupt tags, to authenticate tags, and to observe tag ownership transfer processes. This model gives formal definitions for tag forward privacy and backward privacy and can be used to measure the privacy property of tag ownership transfer scheme. We also present a tag ownership transfer scheme, which is privacy-preserving under the proposed model and satisfies the other common security requirements, in addition to achieving better performance.
Busta, Ildura; Sinani, Evis; Thomsen, Steen
This paper investigates the relationship between ownership concentration and market value of European banks, and the role of the institutional environment in shaping this relationship. Using GMM dynamic estimator on a sample of European banks over a 13-year period (1993–2005) we find on average...... concentration is positive in Scandinavia. We propose that, besides the legal protection of small investors, the differences in the impact of ownership concentration across the countries could be due to the identity of the predominant owners, i.e. financial institutions in Germany and trusts and foundations...... a negative effect of ownership concentration on bank value, measured by Tobin's Q. However, this effect varies across different institutional settings; while higher ownership concentration results in a lower bank value particularly in the countries belonging to German legal family, the impact of ownership...
Full Text Available The direct income of owners and tenants of dwellings is not comparable since the owners have a hidden income from the investment in their dwelling. This hidden income is considered a part of the disposable income of owners. It may be predicted with the help of a linear model of the rent. Since such a model must be developed and estimated for tenants with observed market rents a selection bias may occur. The selection bias can be minimised through a Heckman correction. The paper applies the Heckman correction to data from the Swiss Statistics on Income and Living Conditions. The Heckman method is adapted to the survey context, the modeling process including the choice of covariates is explained and the effect of the prediction using the model is discussed.
Alexandrov, Gennady; Yablonev, Alexander
In this article, as determinants in the system factors underlying the investment attractiveness of the peat industry is considered a rental factor, which predetermines the significant differences and peculiarities of the investment climate in the mining business and, in particular, in the sphere of peat mining. In contrast to modern studies treated the essence and role of rents in the economic mechanism, is proposed for a new approach to solving the problems of its formation. Our approach differs in that it, firstly, adequate rental relations, objectively in extractive industries, secondly, provides consensus in the interests of the owner of peat deposits and entrepreneurs, businesses in these deposits and, thus, thirdly, contributes to the creation of a favourable investment climate in the peat extraction industry. In practical terms, in accordance with the proposed approach, we have proposed specific allocation algorithm of mining rents from the profits of peat extraction enterprises.
Kolstad, Ivar; Wiig, Arne
A number of studies suggest that natural resources can have a negative impact on the developing prospects of countries. Empirical results suggest that political economy models of patronage and rent-seeking are central to understanding why such a resource curse arises. In other words, the resource curse is created by certain resource rents leading to dysfunctional behaviour. This article introduces the term impartiality enhancing institutions to structure policy debates by distinguishing conditions under which negative effects of resources can be mitigated. Moreover, it is argued that viewing institutions as an equilibrium outcome has implications for the analysis of institutional change. Policy initiatives that do not promote the impartiality of institutions, nor attend to the underlying interests and incentives keeping a bad institutional equilibrium in place, will not help lift the resource curse.
Merayo, Eugenia; Waldo, Staffan; Nielsen, Max
of the largest fishing nations within the EU. A static bio-economic model is used to analyze the effect of simultaneous elimination of subsidies and introduction of an economically efficient management system for the Northwest Spanish fleet. It is concluded that improvements in management would bring substantial......Subsidies to the fishing sector have long been criticized for fueling over-fishing, and a reduction in subsidies is currently on the agenda in the negotiations within the World Trade Organization (WTO). This article analyzes the role of subsidies and other management measures for Spain, one...... rents to the industry, up to €164 million, irrespective of subsidy level, but also a reduction in fishing effort of almost 60%. Under a management scheme that maximizes economic rents, elimination of subsidies in the fishery would increase social welfare, induced by a decrease in the equilibrium fishing...
Kelly M. Hastings
Full Text Available The NBA’s 1999 Collective Bargaining Agreement (CBA included provisions capping individual player pay in addition to team payrolls. This study examines the effect the NBA’s maximum player salary on player rents by comparing player pay from the 1997–1998 and 2003–2004 seasons while controlling for player productivity and other factors related to player pay. The results indicate a large increase in the pay received by teams’ second highest and, to a lesser extent, third highest paid players. We interpret this result as evidence that the adoption of the maximum player salary shifted rents from stars to complementary players. We also show that the 1999 CBA’s rookie contract provisions reduced salaries of early career players.
The European gas market will become 'more liberal'. Depending on in which segments competition is intensified and public interference takes place, prices in the gas chain will be affected. Rent may be redistributed among firms and prices will become more volatile. If supply overshoots demand for a long period, average consumer prices may also be pushed down. Rent may also end up as tax revenues for public authorities. This article argues that an active use of gas taxes as an instrument to derive public revenues increases the probability of a politically led liberalization process. The effect of these economic and political forces and actions may, however, be less new gas to the market. (author)
Kolstad, Ivar; Wiig, Arne [Chr. Michelsen Institute, P.O. Box 6033 Postterminalen, N-5892 Bergen (Norway)
A number of studies suggest that natural resources can have a negative impact on the developing prospects of countries. Empirical results suggest that political economy models of patronage and rent-seeking are central to understanding why such a resource curse arises. In other words, the resource curse is created by certain resource rents leading to dysfunctional behaviour. This article introduces the term impartiality enhancing institutions to structure policy debates by distinguishing conditions under which negative effects of resources can be mitigated. Moreover, it is argued that viewing institutions as an equilibrium outcome has implications for the analysis of institutional change. Policy initiatives that do not promote the impartiality of institutions, nor attend to the underlying interests and incentives keeping a bad institutional equilibrium in place, will not help lift the resource curse. (author)
Full Text Available As an immobile, durable and heterogonous good, each housing unit has a bundle of different characteristics. Hedonic price method, which depends on the consumer theory of the classical economics, implies that each characteristic of heterogeneous goods provides a different level of satisfaction or utility to the consumer, being widely accepted as a toolkit for estimating effects of these characteristics on prices and rents. HPM expresses housing prices as the function of structural characteristics, location characteristics, and neighborhood characteristics. Theory and empirical applications of the HPM, which have been used for more than 40 years in developed countries, due to the lack of suitable data related literature is limited in Albania. The aim of this paper is to analyze the relationship between housing rents and housing characteristics in urban Albania with micro database of Living Conditions and Income Survey 2012.
Operational Circular No. 4 (Rev. 1) entitled “Use of vehicles belonging to or rented by CERN”, approved by the Director-general following discussion in the Standing Concertation Committee meeting of 15 February 2012, is available on the intranet site of the Human Resources Department: https://hr-docs.web.cern.ch/hr-docs/opcirc/opcirc.asp It cancels and replaces Operational Circular No. 4 entitled “Conditions for use by members of the CERN personnel of vehicles belonging to or rented by CERN” of April 2003. This new version enables, in particular, to include CERN contractors and their personnel, to harmonize the structure of the circular with other circulars and to simplify the procedures by permitting electronics forms. Department Head Office HR Department
Full Text Available Nowadays, leasing has become an increasingly important and popular method for equipment acquisition. But, because of the rent pricing difficulties and some risks that affect the lessor and lessee's decision making, there are many people that still tend to buy equipment instead of lease it. In this paper we explore how risk can affect the leasing issue support mathematical model. For this purpose, we consider three types of risk; Credit risk, Transaction risk and Risk based pricing. In particular, our focus was on how to make decision about rent pricing in a leasing problem with different customers, various quality levels and different pricing methods. Finally, the mathematical model has been solved by Genetic Algorithm that is a search heuristic to optimize the problem. This algorithm was coded in MATLAB® R2012a to provide the best set of results.
Étude dans les états finals dileptoniques de différentes propriétés des paires top-antitop avec les détecteurs D0 et ATLAS; Study in the final states dileptoniques different properties of top-antitop pairs with D0 and ATLAS detectors
Deterre, Cecile [Univ. Pierre et Marie Curie, Paris (France)
Studies of different properties of the top-antitop pairs in dileptonique final state are presented in this thesis. Two analyzes were conducted in different experiments: one to D0 at the Tevatron, the other in ATLAS at LHC. Both colliders are different, the measures undertaken are complementary to the top of the properties of the study. The first analysis, conducted in the D0 experiment was to make simultaneous measurements of the cross section for production of pairs of top-antitop and branching ratio t -> Wb This was carried out in the channel with a dileptonique batch of data corresponding to a brightness of 5.4 fb⁻¹. It was then combined with the measurement made in the semileptonique channel to obtain an accuracy of 8% over the cross section, comparable to the accuracy of theoretical calculations. The second analysis presented, conducted in the ATLAS experiment was to measure the top quark charge asymmetry in dileptonique channel with the data set recorded by ATLAS in 2011, or 4.7 fb⁻¹. The results were then combined with the results of semileptonique channel obtained with 1 fb⁻¹. We measure: AC (ttbar) = 0.029 ± 0.018 (stat.) ± 0.014 (syst.), Which is compatible with the standard model prediction of 0.004 ±- 0.001.
Sheyda Lotfi; Ataollah Mohammadi
This research aims to study the relationship between the Ownership Structure and Risk Management in time period between 2007 to 2013 based on a sample including 642 Year_Firm among campanies listed in Tehran Stock Exchange. In following for each of the variables related to the Ownership Structure such as Institutional Ownership, Management ownership, Family Ownership, and Ownership Concentration, a hypothesis is formulated and its impact upon the Risk Management is investigated. The simple li...
Bena, J.; Hanousek, Jan
Roč. 58, 3-4 (2008), s. 106-130 ISSN 0015-1920 R&D Projects: GA ČR GA402/06/1293; GA MŠk LC542 Institutional research plan: CEZ:MSM0021620846 Keywords : rent extraction * large shareholders * dividend policy Subject RIV: AH - Economics Impact factor: 0.275, year: 2008 http://journal.fsv.cuni.cz/storage/1125_str_106_130--bena-hanousek.pdf
Anderson, G M; Tollison, R D
Just prior to the Civil War, the US government set out on a relentless campaign to eliminate polygamy within the Mormon Church. This paper offers evidence that the political restrictions on the practice of polygamy were the result of rent seeking by potential beneficiaries of such laws (the Edmonds Act of 1882). Polygamy created benefits for women, but reduced the welfare of most men, in a time period when only adult males had the franchise.
The author, drawing on thirty-five years of experience in the field of agricultural water management and on cases from research and from development cooperation, puts forward his personal viewpoint on this matter. He contends that local as well as international professionals on different levels in the water sector are caught in multifaceted conflicts between formal objectives and hidden interests – and often tend to resort to rent-seeking behaviour themselves.
This thesis was commissioned by Emi-Rent Properties, a real estate company based in Bel-grade, Serbia. The main objective of this thesis is to help determine the value of growth hack-er marketing for the case company’s newly commissioned marketing campaign. Secondary objective of this thesis is to present practical advice on the implementation of a successful marketing campaign with strong international aspects. The thesis will cover major marketing concepts and provide an alternative view by...
Arief Tri Hardiyanto
Full Text Available Capital structure is a mix of debts and equities used by a company to finance its investment. Debt offers benefit of tax shield from interest expenses that can be deducted in calculating company income tax. Unfortunately, company can not use debts in unlimited amount because it will lead to risk of bankcrupt. Therefore, company needs to establish a target (unobserved capital structure which will optimize the value of the firm. The purpose of this study is to investigate the determinant of capital structure and ownership in public listed companies in Indonesia Stock Exchange using Time-Series Cross-Section Regression (TSCSREG and supported with a balanced panel data. Data used are financial statements of 228 public listed companies from group of eight industry sectors. Research finding confirms that tax shield and fixed financial burden are significantly influence the capital structure and state ownership also significantly influence the capital structure of the state owned enterprises.
Wisell, Kristin; Winblad, Ulrika; Sporrong, Sofia Kälvemark
were developed in an inductive manner. RESULTS: One expectation among the political organization participants was that the ownership liberalization would create opportunities for ideas. The competition introduced in the market was supposed to lead to a more diversified pharmacy sector. After......BACKGROUND: Reforms in the health-care sector, including the pharmacy sector, can have different rationales. The Swedish pharmacies were prior to 2009 organized in a state-owned monopoly. In 2009, a liberalization of the ownership took place, in which a majority of the pharmacies were sold...... to private owners. The rationales for this liberalization changed profoundly during the preparatory work, making it probable that other rationales than the ones first expressed existed. The aim of this study was to explore the underlying rationales (not stated in official documents) for the liberalization...
Arief Tri Hardiyanto
Full Text Available Capital structure is a mix of debts and equities used by a company to finance its investment. Debt offers benefit of tax shield from interest expenses that can be deducted in calculating company income tax. Unfortunately, company can not use debts in unlimited amount because it will lead to risk of bankcrupt. Therefore, company needs to establish a target (unobserved capital structure which will optimize the value of the firm. The purpose of this study is to investigate the determinant of capital structure and ownership in public listed companies in Indonesia Stock Exchange using Time-Series CrossSection Regression (TSCSREG and supported with a balanced panel data. Data used are financial statements of 228 public listed companies from group of eight industry sectors. Research finding confirms that tax shield and fixed financial burden are significantly influence the capital structure and state ownership also significantly influence the capital structure of the state owned enterprises.
Continual growth of conventional nuclear capacity requires an assured supply of enriched uranium and, hence, potential expansion of domestic uranium enrichment capacity. The question of ownership of new enrichment capacity, i.e., public or private, entails not only the social-opportunity costs of alternative investments but also technical parameters of uranium utilization and advanced reactor development. Inclusion of risk preferences in both the public and private sectors produces interesting results in terms of optimal investment strategies with respect to choice of technology and scale of investment. Utilization of a nuclear fuel cycle requirements process model allows explicit specification of production technology. Integration of process model output with a least-cost investment model permits flexibility in parametric analysis. Results indicate minimum incentive for Government subsidy of a private enrichment sector through 2000 given moderate to low nuclear growth assumptions. The long-run scenario, to 2020, exhibits potentially greater incentives for private enrichment investment
: German banks divested their equity stakes mainly as a consequence of increased international competition. The paper extends the model of market-led change by two important observations: first, market pressure is not the only driver of legal change, but the law itself in this case contributed...... to facilitating competition. Notably, a taxation law reform enabled and accelerated the competition process already underway. Legal rules and market competition may thus be understood as not operating in isolation, but as forces that can be working in dialog. Secondly, the paper highlights the importance......German corporate governance and corporate law are currently undergoing a major change. The old “Deutschland AG”, a nationwide network of firms, banks, and directors, is eroding, ownership is diffusing and the shareholder body is becoming more international than ever. This paper presents new data...
The Indian Tata Group is one of the largest and most admired business groups in the world. It has 28 listed subsidiaries and more than 80 operating businesses. It has shown strong financial performance and social responsibility for decades. Interestingly, it has a unique ownership structure......: the main holding company Tata Sons Limited is majority-owned by charitable trusts. We examine the governance of this remarkable entity. The Trusts own 66% of Tata Sons, the main holding company of the Group, while members of the founding Tata family are very small minority shareholders. The governance...... structure is characterized by managerial distance between trusts and Group companies. The Trusts are almost exclusively concerned with philanthropy, and according to the Articles of Association of Tata Sons Limited, their governance role is limited to nominating two members to the Selection Committee which...
Børsting, Christa Winther; Kuhn, Johan Moritz; Poulsen, Thomas
in Denmark. Industrial foundations are independent legal entities without owners or members typically with the dual objective of preserving the company and using excess profits for charity. We use a unique Danish data set to examine the governance of foundation-owned companies. We show that they are long......-term in several respects. Foundations hold on to their shares for longer. Foundation-owned companies replace managers less frequently. They have more conservative capital structures with less leverage. Their companies survive longer. Their business decisions appear to be more long term. This paper supports...... the hypothesis that time horizons are influenced by ownership structures and particularly that industrial foundations promote longtermism. Policymakers which are interested in promoting longtermism should allow and perhaps even encourage the creation of industrial foundations. More generally they should consider...
Romano, Daniele; Sedda, Anna; Brugger, Peter; Bottini, Gabriella
Individuals with the peculiar disturbance of 'overcompleteness' experience an intense desire to amputate one of their healthy limbs, describing a sense of disownership for it (Body Integrity Identity Disorder - BIID). This condition is similar to somatoparaphrenia, the acquired delusion that one's own limb belongs to someone else. In ten individuals with BIID, we measured skin conductance response to noxious stimuli, delivered to the accepted and non-accepted limb, touching the body part or simulating the contact (stimuli approach the body without contacting it), hypothesizing that these individuals have responses like somatoparaphrenic patients, who previously showed reduced pain anticipation, when the threat was directed to the disowned limb. We found reduced anticipatory response to stimuli approaching, but not contacting, the unwanted limb. Conversely, stimuli contacting the non-accepted body-part, induced stronger SCR than those contacting the healthy parts, suggesting that feeling of ownership is critically related to a proper processing of incoming threats. Copyright © 2015. Published by Elsevier Inc.
Because of the potential number of casks available through utility modular storage programs, it is imperative that the planning for the provision and operation of casks under the NWPA program include consideration of the utility owned casks. As to the remainder of the cask requirements for implementation of the NWPA, the author believes that the cost factor is an artificial one for determining the benefits to the taxpayers and ratepayers for cask ownership and that the decision should be made on the basis of capability of the industry to perform on a competitive bid basis and assurance that the shipments will be made on a timely, safe and cost effective basis. If the procurement process is structured to rally permit competitive bidding on spent fuel shipping services, the competition in the market place will assure that DOE and the ratepayers, receive safe, high quality, and cost effective transportation proposals from very capable companies
... PROPERTY 85-PRICING POLICY FOR OCCUPANCY IN GSA SPACE Rent Charges § 102-85.160 How does a customer agency... pricing due to changes in scope of proposed projects or repair and/or replacement of building components ...
Full Text Available This study aims at determining the parallel process of car rental agreement between Harkat Rent Car Company and the owner of the car, and between the company and its customers in an Islamic economics perspective. This study also aims to analyze the risk coverage of the leased car. The data for this study was gathered through interviews, observation and documentation studies. The collected data was then analyzed using descriptive analysis method. Results showed that the process of car leasing begin when customer rented a car from CV. Harkat which was owned by its partner. The company provided a shared price for car owners according to a mutual agreement and applied only for a certain period. Furthermore, the partner has to allocate 20 percent of the income for the company. In addition, the company also required the partner to cover for maintenance costs, insurance, equipment, and spare parts. In the context of Islamic economics, the practice of leasing parallel conducted by the company was not fully Shariah compliance due to practice a lease above a lease and using two contracts in one transaction. =========================================== Penelitian ini bertujuan untuk mengetahui perjanjian sewa menyewa mobil secara paralel antara Perusahaan Rent Car CV. Harkat dengan pemilik mobil dan dengan konsumennya dalam perspektif ekonomi Islam. Penelitian ini juga bertujuan untuk menanganalisis pertanggungan resiko terhadap mobil yang dijadikan objek sewa menyewa tersebut sewa menyewa mobil di Perusahaan Rent Car CV. Data untuk penelitian ini bersumber dari wawancara, obesrvasi dan studi dokumentasi. Metode yang digunakan dalam penelitian ini adalah deskriptif analisis. Hasil penelitian menunjukkan bahwa CV. Harkat menyewakan mobil milik mitra kerjanya (pemilik mobil kepada pelanggan yang membutuhkan sewa mobil untuk keperluannya. Pemilik usaha memberikan harga kongsi kepada pemilik mobil sesuai dengan kesepakatan bersama dan untuk jangka waktu
Jarvis, Lovell S.
Rent seeking is well known, but empirical evidence of its effects is relatively rare. This paper analyzes how the domestic and international rent seeking caused Brazil to provide coffee export tax rebates that transferred foreign exchange to coffee importers. Although Brazil was the world's largest exporter, it began to pay export tax rebates to selected coffee importers in 1965 and, by 1988, had paid rebates totaling $8 billion. Brazil explained these rebates as a mechanism to price disc...
Full Text Available The occupancy rate of Public Rental Housing (PRH in China is relatively low due to the unreasonable rents. At the same time, the development of PRH using Public Private Partnerships (PPPs increases the complexity of the rents. Therefore, the critical factors influencing the rents of PRH delivery by PPPs should be identified. Based on the comprehensive literature, this article identified a conceptual model for the factors influencing the rents of PRH delivery by PPPs in China, composed of 14 factors grouped in three factor packages, and discussed the relationships among three factor packages. A survey based on Nanjing was conducted to assess the relative significance of 14 factors. According to the results, six critical factors were identified: construction costs, household income, floor area and structure, transportation, market rents in the same district and public facilities. In addition, the proposed conceptual model had a good fit. The results also supported two hypothetical relationships among three factor packages: (1 the increase of the affordability of the target tenants had a positive effect on the increase of profits of private sectors; and (2 the increase of the affordability of the target tenants had a positive effect on the increase of level of the characteristics of PRH units. For future research, six critical factors and the relationships among three factor packages can be used to determine the reasonable rents for PRH delivery by PPPs in China.
Brännlund, Runar; Nordström, Leif Jonas; Stage, Jesper
In this paper, we study how foreign ownership of Swedish companies affects employment and wages. To study these effects, we specify a model based on the assumption that the Swedish labour market can be described as one where trade unions and employers bargain over employment and wages. Our...... hypothesis is that bargaining power is affected by institutional settings and the ownership of the firm. To test our hypothesis, we used a panel data set of 242 large Swedish manufacturing firms over the period 1980–2005. The results indicate no significant impact of foreign ownership on employment or wages...
Zhong, Weiwei; Liu, Zhusong
Cloud storage systems save disk space and bandwidth through deduplication technology, but with the use of this technology has been targeted security attacks: the attacker can get the original file just use hash value to deceive the server to obtain the file ownership. In order to solve the above security problems and the different security requirements of cloud storage system files, an efficient information theory security proof of ownership scheme is proposed. This scheme protects the data through the convergence encryption method, and uses the improved block-level proof of ownership scheme, and can carry out block-level client deduplication to achieve efficient and secure cloud storage deduplication scheme.
Mohammad Mahfuzur Rahman
Full Text Available In the last two decades, many forest product firms in the U.S. either divested their timberlands to timber investment management organizations (TIMOs and conservation organizations or converted their corporate structures from C corporations to real estate investment trusts (REITs. All landowners sold smaller timberland tracts for nonforestry uses. Reduced timber supplies from conservation organizations and timberland loss to other nonforestry uses have consequences on producer and consumer surpluses in the U.S. timber markets. Equilibrium displacement model has been employed to evaluate the welfare changes in U.S. timber markets attributed to timberland ownership changes. Net reduction of timber supply contributed to the reduction of social surplus by $43 million in 2006. Compared to the $33 billion plus U.S. timber markets, this welfare reduction was small. Overall, this article explains the shifts of economic surpluses among producers and net surplus reduction for the society attributed to timberland ownership changes in the United States.
Münch, Angela; Becker, Nadine
: In order to change the growth strategy of the Chinese economy, from the recent production focused towards an innovation-oriented approach, the government is trying to foster innovation capacity building among companies operating in China. The implementation of the current Science and Technology...... Development Plan (2006-2020) has granted enterprises special support and subsidies to increase their innovative capacity. Yet, due to specific ownership forms of firms in China the government aid varies tremendously between the various ownership types. Based on their registration status enterprise types can...... be classified as state-owned (SOE), collective-owned (COE), joint-operated enterprises (JOE), private-owned (POE), and foreign-owned enterprises (FOE) as well as foreign joint ventures (FJV). These specific company forms are exposed to different political and regulatory conditions and can be further divided...
Full Text Available This study examines the Environmental Disclosure (ED practices in Saudi Arabia and the potential relationship with Corporate Governance (CG , ownership and company structure, following the application of the Saudi 2006 CG code in 2007. The study deepens the understanding of ED and its main determinants in one of the largest economies in the Middle East. A self-constructed ED checklist, based on ISO 26000, is used. We employ regression and content analyses to examine a sample of 267 annual reports covering the period 2007-2011. The analysis finds that the average ED has improved following the application of the Saudi 2006 CG code to 30%, more than double the 14.61% found by Al-Janadi et al. (2013 during 2006-2007. The analysis also finds that audit committee effectiveness, role duality, state and institutional ownerships, firm profitability, and industry sensitivity positively affect ED. However, board independence, family ownership, and firm size are found not to be significant determinants, while a negative significant correlation was found with firm leverage. The results imply that CG regulators and stakeholders should acknowledge the importance of active audit committees comprising relevant experts and independent directors, in addition to the role of state and institutional ownership in enhancing ED. The study covers a five-year period, contrary to the majority of ED studies which focus on only one year. The study helps to fill the gap in ED literature in developing countries. Finally, the study provides a recent evaluation for the Saudi CG code recently applied in 2007.
Colli, A.; Iversen, M.J.; de Jong, A.
This paper is the introduction to the Business History special issue on European Business Models. The volume presents results of the international project about mapping European corporations, within the strategy, structure, ownership and performance (SSOP) framework. The paper describes the
Wang, Yi; Larimo, Jorma
In this study, we analyze the general effect of acquirers’ ownership strategy on the survival in foreign acquisitions. Furthermore, we attempt to address five potential moderating effects: international, regional, target country experience, cultural distance, as well as host country development...
van Zyl, Llewellyn; van der Vaart, Leoni; Stemmet, Lehan; Olckers, Chantal; van Zyl, Llewellyn; van der Vaart, Leoni
Interventions aimed at the enhancement of positive organisational behaviours, within organisational contexts, are imperative for creating and sustaining a high-performance culture, where individual and organisational strengths are optimized and top-talent retained. Psychological ownership, one form
Oct 30, 2013 ... The book further analyzes the role of livestock ownership, especially by women, ... access to resources, information, and financial services to enable women to more effectively participate in livestock production and marketing.
Jun 6, 2016 ... ... women own assets, and to what extent they participate in making decisions about how to ... Examining the links between livestock ownership, gender, and food security ... Improving women's participation in livestock markets.
Full Text Available This paper examines the effects of director ownership and the proportion of outside directors on firms’ commitment to corporate social responsibility (CSR. Using a sample of 453 Hong Kong listed companies for 2005, we find that there is a non-linear relationship between the level of director ownership and firms’ engagement in CSR behavior. Commitment to CSR first increases as the proportion of director ownership increases up to 50% and then decreases as that proportion of ownership grows higher. Further, the proportion of outside directors on the board exhibits a positive relationship with the level of CSR commitment. These results provide explanations for firms’ commitment to CSR from the corporate governance perspective.
Juan Carlos Barcena-Ruiz; Norma Olaizola
This work analyzes the incentives to acquire cost-saving production technologies when cross-participation exists at ownership level. We show that cross-participation reduces the incentives to adopt the cost-saving production technology.
... the consolidation of two or more corporations, one of which is the center corporation, resulting in... applicable health and safety standards. (2) Compliance with the ownership and financial interest disclosure...
Kočenda, Evžen; Švejnar, Jan
-, č. 4143 (2003), s. 1-36 ISSN 0265-8003 Institutional research plan: CEZ:AV0Z7085904 Keywords : industrial organization * ownership * performance and privatization Subject RIV: AH - Economics www.cepr.org/pubs/dps/DP4143.asp
Costs of Tractor Ownership under Different Management Systems in Nigeria. ... It requires high initial capital investment. ... making management plans and decisions especially in comparing different tractor types and models thereby assisting ...
Membership to innovation platforms and gender in ownership of productive assets in the savannas of west Africa. ... African Crop Science Journal ... inception of the project improved with participation in the innovations of the project, in terms of ...
Using foreign ownership levels in South African listed companies during the period 2003 to ... transparency in financial information for investors. This could .... SA-GAAP. Taking all the literature into account and applying it to the South African.
Dye, Thomas R.
In 1981, families and individuals held the largest dollar share of strategic ownership positions in the Fortune 500, surpassing banks, financial firms, employee stock plans, insurance companies, pension funds, and foreign owners. (RM)
Brounen, Dirk; Eichholtz, P.; Staetmans, S.; Theebe, Marcel
This article examines the inflation hedging capacity of the private home. We employ unique long-term data for inflation, house price dynamics and rents for Amsterdam dating back to 1814, allowing us to study total housing returns in different inflation regimes and for varying investment horizons.
Kočenda, Evžen; Hanousek, Jan
Roč. 45, č. 3 (2012), s. 157-191 ISSN 1573-9414 R&D Projects: GA ČR GA402/09/1595 Institutional support: PRVOUK-P23 Keywords : corporate performance * corporate pyramid * golden share * privatization Subject RIV: AH - Economics
The Ownership Unbundling of power supply grids from the view of European law and constitutional law; Die Eigentumsrechtliche Entflechtung (Ownership Unbundling) der Energieversorgungsnetze aus europarechtlicher und verfassungsrechtlicher Sicht
Kahle, C. [Sozietaet White and Case LLP, Hamburg (Germany)
The energy policy is determined by large efforts of liberalisation. In order to increase the competition, the operational and legal unbundling was introduced. These kinds of unbundling flank the regulation of accounting and informational unbundling. In the member states of the European Union as well as in the Federal Republic of Germany substantial monopolistic positions exist furthermore. High costs of electricity and discriminations of market participants are the result and are contrary to the goals of unbundling. Under this aspect, an ownership unbundling is discussed. The author of the contribution under consideration comments the legal evaluation of this kind of unbundling.
Munisi, Gibson; Hermes, Niels; Randoy, Trond
This study examines the relationship between board structure and ownership structure for firms listed on the stock exchanges of twelve Sub-Saharan African countries, using data for the period 2006–2009. We find that ownership concentration, foreign ownership and managerial ownership are negatively
Tuite, M.J.; Turnbull, J.R.; Orwin, J.F.
Purpose. To determine the relative distribution of the locations of rotator cuff tears, and the sensitivity of anterior versus posterior tears on MR images. Patients and methods. We identified 110 consecutive patients who had a shoulder MR and either a partial-thickness or a small full-thickness rotator cuff tear diagnosed at arthroscopy. MR sensitivity and patient age were compared between patients with tears in the anterior and posterior halves of the cuff. In addition, in patients with partial tears less than 2 cm in diameter, an age comparison between those with tears in the critical zone and those with articular surface tears adjacent to the bony insertion (rim-rent tear) was performed. Results. The tear was centered in the anterior half of the rotator cuff in 79% of the patients younger than 36 years old, and in 89% of the patients 36 years old and over. The average age of the patients with tears in the anterior half (44 years) was not significantly different from the average age of those with posterior tears (40 years). The sensitivity of MR for anterior tears was 0.69, and for posterior tears it was 0.56. Five of the nine rim-rent tears (0.56) were interpreted correctly on the original MR report; two of the other tears were misinterpreted as intratendinous fluid but were diagnosable in retrospect. Conclusion. Even in patients less than 36 years old, most partial and small full-thickness rotator cuff tears are centered in the anterior half of the supraspinatus. Although our figure for MR sensitivity for these tears is lower than in recent articles, we found no significant difference between the sensitivity of MR for diagnosing posterior tears versus tears in the anterior half of the supraspinatus tendon. Rim-rent tears can be mistaken for intratendinous signal, and should be carefully looked for in younger patients with shoulder pain. (orig.)
Vo, Xuan Vinh
This paper investigates foreign ownership in the Vietnam stock market from 2007 to 2009 employing a rich and detailed dataset. From the perspective of informational asymmetry, the paper examines the relationship between the foreign ownership level and attributes of Vietnamese listed firm in Ho Chi Minh City Stock Exchange. The findings of the paper indicate that foreign investors have preference for large firms, firms with high book-to-market ratio and firms with low leverage. Foreign investo...
Biekart, Kees; Fowler, Alan
textabstractThe nature and dynamics of ownership are often neglected features of multi-stakeholder initiatives (MSIs). Seventeen cases in four countries illustrate characteristics of narrow government or broad societal ownership and forces for change over time. Refinements to the application of Gaventa’s Power Cube are used to analyse such shifts from the perspective of invited and closed spaces for participation. Observations about ways in which stakeholder groups can create a more enabling ...
Khan, Arifur Rahman
This thesis examines the relationship between managerial share ownership and firm performance as well as the relationship between managerial share ownership and dividends in Australia. Agency theory, more specifically two alternative theories – incentive alignment and managerial entrenchment theory – provides the theoretical framework that underpins this thesis. The three empirical studies in this thesis examine the top 300 Australian listed companies for the period 2000 to 2006 and the metho...
Akram , Raja Naeem; Markantonakis , Konstantinos; Mayes , Keith
International audience; Multi-application smart card technology facilitates applications to securely share their data and functionality. The security enforcement and assurance in application sharing is provided by the smart card firewall. The firewall mechanism is well defined and studied in the Issuer Centric Smart Card Ownership Model (ICOM), in which a smart card is under total control of its issuer. However, it is not analysed in the User Centric Smart Card Ownership Model (UCOM) that del...
The relationship between ownership structure and performance has received considerable attention in the literature. This paper focuses on the relationship between ownership structure and risk management. Specifically, the paper addresses the relationship between (1) the identity and influence of the largest shareholder and (2) whether risk management decisions are made in order to satisfy shareholders in particular or stakeholders in general. Covering a sample of Danish, non-financial compani...
Tomaz Ponce Dentinho
Full Text Available This paper aims at demonstrating how countries' dependency on natural resources plays a crucial role in urban concentration. The Zipf's Curve Elasticity is estimated for a group of countries and related to a set of indicators of unilateral transferences. Results show that in comparison to others, countries with higher urban concentration explained by higher Zipf's Curve Elasticity have a higher percentage of income coming from natural resources and education expenditures whereas public spending in health and outflow of Foreign Direct Investment seem to have spatial redistribution effects. Summing up, there are signs that the spatial allocation of property rights over natural resources and related rents influences urban concentration.
Tuite, M J; Turnbull, J R; Orwin, J F [Wisconsin Univ., Madison, WI (United States). Dept. of Radiology
Purpose. To determine the relative distribution of the locations of rotator cuff tears, and the sensitivity of anterior versus posterior tears on MR images. Patients and methods. We identified 110 consecutive patients who had a shoulder MR and either a partial-thickness or a small full-thickness rotator cuff tear diagnosed at arthroscopy. From the arthroscopy videotapes, we classified the tears as centered in the anterior or posterior half of the cuff, and as either in the critical zone or adjacent to the bony insertion. The original MR interpretation was compared with the arthroscopic findings. MR sensitivity and patient age were compared between patients with tears in the anterior and posterior halves of the cuff. In addition, in patients with partial tears less than 2 cm in diameter, an age comparison between those with tears in the critical zone and those with articular surface tears adjacent to the bony insertion (rim-rent tear) was performed. Results. The tear was centered in the anterior half of the rotator cuff in 79% of the patients younger than 36 years old, and in 89% of the patients 36 years old and over. The average age of the patients with tears in the anterior half (44 years) was not significantly different from the average age of those with posterior tears (40 years)(P=0.23). The sensitivity of MR for anterior tears was 0.69, and for posterior tears it was 0.56 (P=0.17). The average age of the 9 patients with rim-rent tears was 31 years, while that of the 28 patients with similarly-sized partial tears not involving the insertion was 40 years old (P=0.048). Five of the nine rim-rent tears (0.56) were interpreted correctly on the original MR report; two of the other tears were misinterpreted as intratendinous fluid but were diagnosable in retrospect. Conclusion. Even in patients less than 36 years old, most partial and small full-thickness rotator cuff tears are centered in the anterior half of the supraspinatus. Although our figure for MR sensitivity
Lopez, C; Halje, P; Blanke, O
Body ownership and embodiment are two fundamental mechanisms of self-consciousness. The present article reviews neurological data about paroxysmal illusions during which body ownership and embodiment are affected differentially: autoscopic phenomena (out-of-body experience, heautoscopy, autoscopic hallucination, feeling-of-a-presence) and the room tilt illusion. We suggest that autoscopic phenomena and room tilt illusion are related to different types of failures to integrate body-related information (vestibular, proprioceptive and tactile cues) in addition to a mismatch between vestibular and visual references. In these patients, altered body ownership and embodiment has been shown to occur due to pathological activity at the temporoparietal junction and other vestibular-related areas arguing for a key importance of vestibular processing. We also review the possibilities of manipulating body ownership and embodiment in healthy subjects through exposition to weightlessness as well as caloric and galvanic stimulation of the peripheral vestibular apparatus. In healthy subjects, disturbed self-processing might be related to interference of vestibular stimulation with vestibular cortex leading to disintegration of bodily information and altered body ownership and embodiment. We finally propose a differential contribution of the vestibular cortical areas to the different forms of altered body ownership and embodiment.
Clò, Stefano; Ferraris, Matteo; Florio, Massimo
The paper investigates how ownership affects the environmental performance in developed countries where environmental regulation is introduced in the form of market-based instrument. By looking at a cross-country panel dataset of 29 power markets around Europe over the period 1990–2012, we find empirical evidence that an increase of public ownership, as measured by the OECD ETCR index, is associated with a reduction of both greenhouse gas emissions and carbon intensity. We also find that the implementation of the European Emissions Trading Scheme (ETS) had a limited impact on emissions' reduction due to lax allocation of allowances. The positive effect of public ownership on environmental performance has been significant even after the introduction of the ETS, giving additional incentives to mitigate emissions when the ETS cap was not stringent enough. This evidence suggests that government control over power companies in Europe can has created idiosyncratic incentives to improve environmental quality, complementing environmental regulation in the achievement of environmental goals when the latter was absent or sub-optimal. - Highlights: • We analyse the power industry's environmental performance in 29 European countries. • Public ownership is associated with lower emissions than private ownership. • Mixed oligopoly is superior to private oligopoly in environmental terms. • The ETS had a limited impact on emissions' reduction due to over-allocation. • Public ownership mitigates the effects of sub-optimal environmental regulation.
Full Text Available Existi ng literature has not yet defi ned a clear-cut relati onship between ownership structure and capital structure. This study aims to contribute to this controversial argument by examining the impact of internal (managerial ownership and external ownership on fi nancing preferences using the case of non-fi nancial fi rms listed on Karachi stock exchange during the period of 2008-2012. Our results suggest that the external ownership has a signifi cant eff ect on capital structure in accordance with the presence of blockholders. In contrast, the internal ownership has a complicated eff ect; it shows signifi cant positi ve and negati ve relati onship to leverage at lower and certain higher proporti on of managerial shareholding respecti vely. Besides, the combined analyses suggest that the presence of blockholders negates the impact of managerial ownership on capital structure. This implies that the presence of large and dominant shareholders in Pakistani fi rms may have caused a bias for debt fi nancing to protect their voti ng power and returns.
Buedenbender, U. [Lehrstuhl fuer Buergerliches Recht, Energiewirtschaftsrecht und Arbeitsrecht der Technischen Univ. Dresden (Germany); Rosin, P. [Clifford Chance, Duesseldorf (Germany)
The European Commission intends to boost competition in the energy economy through the concept of ownership unbundling. Aside from the fact that even after a dissolution of ownership the electricity network would remain a monopolistic domain requiring governmental regulation it is also questionable whether now is the right time for such a move. In discussing the main arguments brought forward by the Commission the present contribution shows that there is no necessity in Germany to introduce ownership unbundling. Not only are network operators already under an obligation to expand their networks; the present concept is also more likely to hamper than promote market integration and transnational trade. As for improving transparency, this can be achieved more easily through additional disclosure obligations. Price formation mechanisms on the wholesale markets have only recently come under the control of new regulations and agreements. And not least, the European Union has no legal mandate to unbundle network ownership.
Full Text Available Today the government ownership of the professional football clubs is absolutely illogical view point. Most of sports clubs are conducted by private sector using different models of ownership all over the world. In Iran, government credits benefit was main reason that the professional sport was firstly developed by government firms and organizations. Therefore, the sports team ownership is without the professionalization standards. The present comparative study was to examine the different football club ownership structures of the top leagues and the current condition of Iran football pro league ownership and then present a suitable ownership structure of Iran football clubs to leave behind the government club ownership. Among the initial 120 scientific texts, the thirty two cases including papers, books and reports were found relevant to this study. We studied the ownership prominence and several football club models of ownership focused on stock listing model of ownership, private investor model of ownership, supporter trust model of ownership and Japan partnership model of ownership; theoretical concepts, empirical studies, main findings, strengths and weaknesses were covered in analysis procedure. According to various models of ownership in leagues and the models’ productivity in football clubs, each model of ownership considering national environmental, economic, social conditions has strengths and weaknesses. So, we cannot present a definite model of ownership for Iran football pro league clubs due to different micro-environments of Iran clubs. We need a big planning to provide a supporter-investor mixed model of ownership to Iranian clubs. Considering strengths and weaknesses in the models of ownership as well as the micro and macro environment of Iran football clubs, German model and Japan partnership model are offered as suitable ones to probable new model of ownership in Iran pro league clubs. Consequently, more studies are required
Tatiana Aquino Almeida
Full Text Available The disclosure of sustainable practices has become important in the search for competitive advantage, so as to meet the expectations of the various stakeholders. Thus, the study aims to investigate the relationship between the ownership structure and the economic and environmental voluntary disclosure in the largest Brazilian companies, analyzing ownership concentration and the identity of the controlling shareholder. For the analysis, we considered the economic, social and environmental perspectives, addressed both individually and jointly. The sample consists of 47 companies from the 100 largest public companies listed on BM&FBOVESPA, according to the magazine Exame Biggest and Best, edition 2013. The research is descriptive and quantitative, using Multiple Linear Regression for statistical analysis. The descriptive analysis of the prospects of (economic, social, environmental and sustainability disclosure showed lower average disclosure for the environmental aspect. The state control organizations stood out with the highest average in three of the four levels of disclosure: economic, social and sustainability. As regards the application of statistical analysis, the regression models were not statistically significant, indicating that, for the companies in the sample, the ownership structure does not influence the economic and socio-environmental disclosure.
The growth of occupational pensions in the post-war era transformed the pattern of capital ownership in Britain, as workers' collective retirement savings purchased a substantial share of the national economy. This article examines the response of the Labour and Conservative parties to this significant material change, and considers how it shaped their respective politics of ownership at the end of the post-war settlement. It demonstrates that Labour and the trade union movement recognized occupational pension funds as a new form of social ownership but had to reconcile their desire to give pension scheme-members direct control over their investments with a broader belief that the funds needed be used for a state-coordinated revitalization of the industrial economy. Meanwhile, the Conservative Party's initial enthusiasm for occupational pensions, which it championed for helping to create a 'property-owning democracy', was challenged by a radical neoliberal critique in the early 1980s that sought to dismantle pension funds and to individualize investment. The findings in the article assert the need for historians to situate the politics of the tumultuous 1970s and 1980s in the context of the substantial economic and social changes that had taken place during the post-war decades. These changes often created opportunities to formulate new policies and political agendas, but they also served to highlight deeper tensions within the ideologies of the main political parties.
O'Brien, Kerry; Forrest, Walter; Lynott, Dermot; Daly, Michael
Racism is related to policies preferences and behaviors that adversely affect blacks and appear related to a fear of blacks (e.g., increased policing, death penalty). This study examined whether racism is also related to gun ownership and opposition to gun controls in US whites. The most recent data from the American National Election Study, a large representative US sample, was used to test relationships between racism, gun ownership, and opposition to gun control in US whites. Explanatory variables known to be related to gun ownership and gun control opposition (i.e., age, gender, education, income, conservatism, anti-government sentiment, southern vs. other states, political identification) were entered in logistic regression models, along with measures of racism, and the stereotype of blacks as violent. Outcome variables included; having a gun in the home, opposition to bans on handguns in the home, support for permits to carry concealed handguns. After accounting for all explanatory variables, logistic regressions found that for each 1 point increase in symbolic racism there was a 50% increase in the odds of having a gun at home. After also accounting for having a gun in the home, there was still a 28% increase in support for permits to carry concealed handguns, for each one point increase in symbolic racism. The relationship between symbolic racism and opposition to banning handguns in the home (OR1.27 CI 1.03,1.58) was reduced to non-significant after accounting for having a gun in the home (OR1.17 CI.94,1.46), which likely represents self-interest in retaining property (guns). Symbolic racism was related to having a gun in the home and opposition to gun control policies in US whites. The findings help explain US whites' paradoxical attitudes towards gun ownership and gun control. Such attitudes may adversely influence US gun control policy debates and decisions.
Full Text Available OBJECTIVE: Racism is related to policies preferences and behaviors that adversely affect blacks and appear related to a fear of blacks (e.g., increased policing, death penalty. This study examined whether racism is also related to gun ownership and opposition to gun controls in US whites. METHOD: The most recent data from the American National Election Study, a large representative US sample, was used to test relationships between racism, gun ownership, and opposition to gun control in US whites. Explanatory variables known to be related to gun ownership and gun control opposition (i.e., age, gender, education, income, conservatism, anti-government sentiment, southern vs. other states, political identification were entered in logistic regression models, along with measures of racism, and the stereotype of blacks as violent. Outcome variables included; having a gun in the home, opposition to bans on handguns in the home, support for permits to carry concealed handguns. RESULTS: After accounting for all explanatory variables, logistic regressions found that for each 1 point increase in symbolic racism there was a 50% increase in the odds of having a gun at home. After also accounting for having a gun in the home, there was still a 28% increase in support for permits to carry concealed handguns, for each one point increase in symbolic racism. The relationship between symbolic racism and opposition to banning handguns in the home (OR1.27 CI 1.03,1.58 was reduced to non-significant after accounting for having a gun in the home (OR1.17 CI.94,1.46, which likely represents self-interest in retaining property (guns. CONCLUSIONS: Symbolic racism was related to having a gun in the home and opposition to gun control policies in US whites. The findings help explain US whites' paradoxical attitudes towards gun ownership and gun control. Such attitudes may adversely influence US gun control policy debates and decisions.
O’Brien, Kerry; Forrest, Walter; Lynott, Dermot; Daly, Michael
Objective Racism is related to policies preferences and behaviors that adversely affect blacks and appear related to a fear of blacks (e.g., increased policing, death penalty). This study examined whether racism is also related to gun ownership and opposition to gun controls in US whites. Method The most recent data from the American National Election Study, a large representative US sample, was used to test relationships between racism, gun ownership, and opposition to gun control in US whites. Explanatory variables known to be related to gun ownership and gun control opposition (i.e., age, gender, education, income, conservatism, anti-government sentiment, southern vs. other states, political identification) were entered in logistic regression models, along with measures of racism, and the stereotype of blacks as violent. Outcome variables included; having a gun in the home, opposition to bans on handguns in the home, support for permits to carry concealed handguns. Results After accounting for all explanatory variables, logistic regressions found that for each 1 point increase in symbolic racism there was a 50% increase in the odds of having a gun at home. After also accounting for having a gun in the home, there was still a 28% increase in support for permits to carry concealed handguns, for each one point increase in symbolic racism. The relationship between symbolic racism and opposition to banning handguns in the home (OR1.27 CI 1.03,1.58) was reduced to non-significant after accounting for having a gun in the home (OR1.17 CI.94,1.46), which likely represents self-interest in retaining property (guns). Conclusions Symbolic racism was related to having a gun in the home and opposition to gun control policies in US whites. The findings help explain US whites’ paradoxical attitudes towards gun ownership and gun control. Such attitudes may adversely influence US gun control policy debates and decisions. PMID:24204867
Full Text Available According to the “induced innovation model of agricultural development” there exist mechanisms for this sector’s participation in contributing to economic development, as well as in sharing its benefits. Nonetheless, inefficiencies of the market that distort market signals, constitute a barrier of the latter process. Therefore, the so-called “surplus drainage” from agriculture takes place. The authors claim that it is possible to objectively measure a “surplus drainage” from agriculture as a result of market failure. Assuming that rural areas generate public goods (i.e. a landscape, a biodiversity, rural culture and tradition, unique food quality, food safety, food security speculative land investors have lower willingness to contribute to its creation, than family farms. This is why agrarian policy levies more duties on them (institutional barriers and favours farmers. The mentioned premises imply that the CAP’s subsidies should not be perceived as political rents according to its classical definition. Only a part of subsidies left after subtracting a value of “surplus drainage” and a compensation of public goods has a hallmark of the rent. A valuation of these values is an important scientific challenge.
Jarvis, Lovell S.
Brazil, the world's largest coffee exporter, encouraged efforts in the 1960s to form the International Coffee Agreement (ICA), which restricted total coffee exports via country export quotas. The quotas led to significant domestic quota rents in producing countries. This paper analyzes the effects of rent seeking in Brazil. The Brazilian Institute of Coffee (IBC), which was responsible for coffee policy, was the focus of rent seeking. The paper models the policy instruments used by the IB...
Li Zhe; Ouyang Minggao
Recently battery leasing has been introduced into the market by automobile manufacturers and power suppliers due to its potential to reduce the purchase cost of electric vehicles (EVs). However, the profit prospect of battery leasing is still uncertain. This paper takes the views of both the operators and consumers and calculates the 'win-win' marginal rent, which not only ensures the profitability of operators, but also allows consumers a lower expenditure than using Internal combustion engine vehicles (ICVs) and EVs with embedded batteries. Battery cost, vehicle weight, gasoline and electricity price, and the discount rate have impacts on the rent. Battery cost plays a dominant role and a battery cost >5 Yen /W h fails to enable the survival of battery leasing to all types of EVs. Battery leasing would be more competitive when focusing on heavier EVs. At least one of the three thresholds is required for the existence of rent pricing range for a 1000 kg EV: gasoline retail price >6 Yen /L, electricity price <0.6 Yen /kW h, or the discount rate <7%. Typically, the feasible battery rent range is 0.34-0.38 Yen /W h/year for a 1000 kg EV under the present battery cost 2 Yen /W h and China current gasoline and electricity prices. - Highlights: → Rent pricing for EV battery leasing must obey win-win rule for BLO and consumers. → Rent is affected by battery cost, vehicle weight, energy price and discount rate. → Battery cost plays dominant role for the BLO survival as described in '5-3-2' Law. → Heavier EVs are more suitable for battery leasing when battery cost is high. → The profitability of BLO is sensitive to the price of gasoline and electricity.
Downes, Martin J; Roy, Angkana; McGinn, Thomas G; Wisnivesky, Juan P
Exposure to indoor allergens is an established risk factor for poor asthma control. Current guidelines recommend removing pets from the home of patients with asthma. This cross-sectional study was conducted to determine the prevalence of furry pet ownership in asthmatics compared to non-asthmatics and to identify factors associated with furry pet ownership among those with asthma. Secondary analysis assessed characteristics among asthmatics that might be associated with allowing a furry pet into the bedroom. Using data from The National Asthma Survey collected from 2003 to 2004, we carried out univariate and multiple regression analyses, in 2009, to identify independent predictors of furry pet ownership in asthma sufferers after controlling for potential confounders. Overall, asthmatics were more likely to own a furry pet than nonasthmatic individuals in the general population (49.9% versus 44.8%, p ownership among asthmatics. Additionally, 68.7% of patients with asthma who own a furry pet allowed them into their bedroom. Higher income and carrying out ownership is equally or more common among asthmatics compared to those without asthma. The majority of asthmatics with furry pets allow them into the bedroom. Recognizing and addressing these problems may help decrease asthma morbidity.
Yi, Paul H; Cross, Michael B; Johnson, Staci R; Rasinski, Kenneth A; Nunley, Ryan M; Della Valle, Craig J
Physician ownership of businesses related to orthopedic surgery, such as surgery centers, has been criticized as potentially leading to misuse of health care resources. The purpose of this study was to determine patients' attitudes toward surgeon ownership of orthopedic-related businesses. We surveyed 280 consecutive patients at 2 centers regarding their attitudes toward surgeon ownership of orthopedic-related businesses using an anonymous questionnaire. Three surgeon ownership scenarios were presented: (1) owning a surgery center, (2) physical therapy (PT), and (3) imaging facilities (eg, Magnetic Resonance Imaging scanner). Two hundred fourteen patients (76%) completed the questionnaire. The majority agreed that it is ethical for a surgeon to own a surgery center (73%), PT practice (77%), or imaging facility (77%). Most (>67%) indicated that their surgeon owning such a business would have no effect on the trust they have in their surgeon. Although >70% agreed that a surgeon in all 3 scenarios would make the same treatment decisions, many agreed that such surgeons might perform more surgery (47%), refer more patients to PT (61%), or order more imaging (58%). Patients favored surgeon autonomy, however, believing that surgeons should be allowed to own such businesses (78%). Eighty-five percent agreed that patients should be informed if their surgeon owns an orthopedic-related business. Although patients express concern over and desire disclosure of surgeon ownership of orthopedic-related businesses, the majority believes that it is an ethical practice and feel comfortable receiving care at such a facility. Copyright © 2016 Elsevier Inc. All rights reserved.
Full Text Available Corporate social responsibility practice becomes important subject in company`s activity, because it will affect the company's reputation. Besides, institutional investors likely prefer to invest in companies that have a social responsibility as it is considered to increase the legitimacy and future performance. This study aims to investigate the effect of CSR disclosure on institutional ownership. We use percentages ownership to measure institutional ownership. CSR measurement instrument used in this study adopted a previous research. The instrument comes from research Hackston and Milne, which was adjusted with Bapepam regulation in Indonesia. We also divided CSR disclosures in four sub-dimensions. The samples used in this research were 115 listed agriculture, mining, and manufacturing companies in indonesian Stock Exchange which studied during the years of 2010. Using SPSS 20, The analysis methods of this research used multiple regression analysis. Studies shows that not all dimensions of CSR disclosure effect on institutional ownership. Only product dimensions of CSR disclosures has a significant positive impact on institutional ownership. However, this paper fail to find any significant impact of another CSR dimensions. Thus, our study suggests that the dimensions of the product can affect investment decisions. In contrast, institutional investors have not focused on environment, employee relation, and community activities in investment decisions.
Full Text Available Land ownership is one of the primary determinants of how agricultural land is used, and property size has been shown to drive many land use decisions. Land ownership information is also key to understanding food production systems and land fragmentation, and in targeting outreach materials to improve agricultural production and conservation practices. Using a parcel dataset containing all 58 California counties, we describe the characteristics of cropland ownership across California. The largest 5% of properties — with “property” defined as all parcels owned by a given landowner — account for 50.6% of California cropland, while the smallest 84% of properties account for 25% of cropland. Cropland ownership inequality (few large properties, many small properties was greatest in Kings, Kern and Contra Costa counties and lowest in Mendocino, Napa and Santa Clara counties. Of crop types, rice properties had the largest median size, while properties with orchard trees had the smallest median sizes. Cluster analysis of crop mixes revealed that properties with grapes, rice, almonds and alfalfa/hay tended to be planted to individual crops, while crops such as grains, tomatoes and vegetables were more likely to be mixed within a single property. Analyses of cropland ownership patterns can help researchers prioritize outreach efforts and tailor research to stakeholders' needs.
Llobera, Joan; Sanchez-Vives, M. V.; Slater, Mel
In the rubber hand illusion, tactile stimulation seen on a rubber hand, that is synchronous with tactile stimulation felt on the hidden real hand, can lead to an illusion of ownership over the rubber hand. This illusion has been shown to produce a temperature decrease in the hidden hand, suggesting that such illusory ownership produces disownership of the real hand. Here, we apply immersive virtual reality (VR) to experimentally investigate this with respect to sensitivity to temperature change. Forty participants experienced immersion in a VR with a virtual body (VB) seen from a first-person perspective. For half the participants, the VB was consistent in posture and movement with their own body, and in the other half, there was inconsistency. Temperature sensitivity on the palm of the hand was measured before and during the virtual experience. The results show that temperature sensitivity decreased in the consistent compared with the inconsistent condition. Moreover, the change in sensitivity was significantly correlated with the subjective illusion of virtual arm ownership but modulated by the illusion of ownership over the full VB. This suggests that a full body ownership illusion results in a unification of the virtual and real bodies into one overall entity—with proprioception and tactile sensations on the real body integrated with the visual presence of the VB. The results are interpreted in the framework of a ‘body matrix’ recently introduced into the literature. PMID:23720537
Im, Jongho; Seo, Youngme; Cetin, Kristen S.; Singh, Jasmeet
Highlights: •Rental units listings collected and analyzed for 10 U.S. cities. •Energy efficient features included in 5.3–21.6% of rental units in each city. •The most common efficient features are lighting and appliance upgrades. •Propensity score matching and conditional mean comparison methods used. •Generally, energy efficient features increases the units’ rent, overall from 6% to 14%. -- Abstract: For 118 million residential housing units in the U.S., there is currently a gap between the potential energy savings that can be achieved through the use of existing energy efficiency technologies, and the actual level of energy savings realized, particularly for the 37% of housing units that are considered residential rental properties. Additional quantifiable benefits are needed beyond energy savings to help further motivate residential property owners to invest in energy efficiency upgrades. This research focuses on assessing the adoption of energy efficient upgrades in U.S. residential housing and the impact on rental prices. Ten U.S. cities are chosen for analysis; these cities vary in size across multiple climate zones, and represent a diverse set of housing market conditions. Data was collected for over 159,000 rental property listings, their characteristics, and their energy efficiency measures listed in rental housing postings across each city. Following an extensive data quality control process, over thirty different types energy efficient features were identified. The level of adoption was determined for each city, ranging from 5.3% to 21.6%. Efficient lighting and appliances were among the most common, with many features doubling as energy efficient and other desirable aesthetic or comfort improvements. Then using propensity score matching and conditional mean comparison methods, the relative impact on rent charged in each city was calculated, which ranged from a 6% to 14.1% increase in rent for properties with energy efficient features
Torous, John; Chan, Steven Richard; Yee-Marie Tan, Shih; Behrens, Jacob; Mathew, Ian; Conrad, Erich J; Hinton, Ladson; Yellowlees, Peter; Keshavan, Matcheri
Despite growing interest in mobile mental health and utilization of smartphone technology to monitor psychiatric symptoms, there remains a lack of knowledge both regarding patient ownership of smartphones and their interest in using such to monitor their mental health. To provide data on psychiatric outpatients' prevalence of smartphone ownership and interest in using their smartphones to run applications to monitor their mental health. We surveyed 320 psychiatric outpatients from four clinics around the United States in order to capture a geographically and socioeconomically diverse patient population. These comprised a state clinic in Massachusetts (n=108), a county clinic in California (n=56), a hybrid public and private clinic in Louisiana (n=50), and a private/university clinic in Wisconsin (n=106). Smartphone ownership and interest in utilizing such to monitor mental health varied by both clinic type and age with overall ownership of 62.5% (200/320), which is slightly higher than the average United States' rate of ownership of 58% in January 2014. Overall patient interest in utilizing smartphones to monitor symptoms was 70.6% (226/320). These results suggest that psychiatric outpatients are interested in using their smartphones to monitor their mental health and own the smartphones capable of running mental healthcare related mobile applications.
Shukla, P.R.; Nag, Tirthankar; Biswas, Debashish
This paper examines how electricity reforms in India managed to influence the responses of generating firms. Indian electricity reforms have federal and state character. This paper utilises an extensive survey of generation units in Gujarat State. The findings suggest that reforms have created heterogeneous ownership of generation units. The fuel-mix and technology choices of new owners differ from pre-reform pattern followed by state-owned utilities. The new owners prefer natural gas, sourced technologies internationally, and chosen unit sizes that follow market dynamics. Consequently, the operational performance of power plants has improved. This paper quantifies energy efficiency and carbon intensity baselines, projects their trends, and delineates the contribution of reforms for the state. In generalisation, this paper argues that energy and cost efficiency of power plants across different states shows secular improvements under the reforms, though it cautions that environmental performance would not show such uniformly improving trends. (Author)
The relationship between ownership structure and performance has received considerable attention in the literature. This paper focuses on the relationship between ownership structure and risk management. Specifically, the paper addresses the relationship between (1) the identity and influence...... of the largest shareholder and (2) whether risk management decisions are made in order to satisfy shareholders in particular or stakeholders in general. Covering a sample of Danish, non-financial companies a statistically significant, negative relationship is found between personal ownership and the likelihood...... that the aim of risk management is to satisfy shareholders in particular. No significant relationship is found for foundation-owned companies. Furthermore, a positive relationship is found between the size of the company and the tendency to satisfy shareholders in particular. The finding in relation...
Zhong, Weiwei; Liu, Zhusong
Cloud storage system through the deduplication technology to save disk space and bandwidth, but the use of this technology has appeared targeted security attacks: the attacker can deceive the server to obtain ownership of the file by get the hash value of original file. In order to solve the above security problems and the different security requirements of the files in the cloud storage system, an efficient and information-theoretical secure proof of ownership sceme is proposed to support the file rating. Through the K-means algorithm to implement file rating, and use random seed technology and pre-calculation method to achieve safe and efficient proof of ownership scheme. Finally, the scheme is information-theoretical secure, and achieve better performance in the most sensitive areas of client-side I/O and computation.
Pestana Barros, Carlos; Sequeira Antunes, Olinda
This paper analyzes ownership and unobserved managerial ability as factors affecting the performance of a representative sample of Portuguese wind farms by means of frontier models. These farms are ranked according to their technical efficiency during the period 2004-2008 and homogenous and heterogeneous variables are disentangled in the cost function, which leads us to advise the implementation of common policies as well as policies by segments. Economic implications arising from the study are also considered. - Research highlights: → Wind farms are heterogeneous displaying distinct ownership and managerial characteristics that affect efficiency. → Managerial practices has a positive impact on the efficiency. → Ownership has a positive impact on the efficiency. Large wind farms are more efficient.
Lukas Setia Atmaja
Full Text Available This paper reviewed the theoretical and empirical literature on the relationshipbetween ownership structure and dividends. Agency theory suggested that dividend was servedto reduce agency problems between owners (or large controlling shareholders and managers(or minority shareholders by reducing the amount of free cash flow and increasing monitoringby external parties. It also proposed that ownership concentration and composition mightmitigate or exacerbate agency problems. We might expect substitutability or complementaryrelationship existed between dividend and ownership concentration/composition. Empiricalevidence showed that the relationship between dividend and managerial or large shareholdingscould be negative (i.e., consistent with substitute argument, positive (i.e., consistent withcomplementary argument or non-linear (i.e., consistent with entrenchment hypothesis. Inaddition, the literature suggested that family controlled firms might expropriate minorityshareholders by paying lower dividends or mitigate moral hazard conflicts by distributingmore cash. Empirical research on this issue, however, provided mixed findings.
Full Text Available The textile and clothing industry generates much pollution and consumes a large amount of resources. Improper uses and disposal of clothing products make the problems much more severe. Fast fashion products shorten the valid lifecycle and generate more waste than regular clothing products. Considering the features of fashion products, a system of a rent-based closed-loop supply chain is developed to improve the sustainability of fashion products. The supply chain processes (fashion design and manufacturing, laundry, logistics and disposal, the operations management issues (inventory management, closed-loop logistics, human-clothing matching, booking system and the rental pricing and the sustainability promotion aspects (customization, responsive system, culture and policy aspects are investigated by devising sustainable strategies. The rationalities of the developed system and strategies are reviewed and elucidated in detail. The results may contribute to building sustainable closed-loop fashion supply chains, the related information systems and operational and managerial mechanisms.
Liu, Minghai; Gross, George
Evaluation of key metrics for congestion management, including the congestion rents and the financial transmission rights (FTR) payoffs, requires the efficient allocation of transmission services and the calculation of appropriate locational marginal prices (LMPs). This requirement is particularly acute when there are bilateral transactions coexisting with the centralized pool markets. We propose a new formulation for this purpose, which captures explicitly the contribution of the bilateral transactions to the social welfare. The proposed formulation effectively integrates the pool market and the bilateral transactions on a consistent basis and results in the more efficient allocation of the transmission resources than the conventional tool. We assess analytically the capabilities of the proposed formulation and solution and quantify the improvements in the evaluations over those done using the conventional approach. Such improvements are also illustrated using simulation results on a wide range of test systems including the IEEE 118-bus network. (author)
Natural resource revenues differ from other government revenues both in their time profile, and in their political and legal status: they are volatile and exhaustible, and belong to all citizens of the country in which they are located. This paper discusses the theory of natural resource revenues and examines expenditure practices in a range of resource-rich countries. It considers both the distributional impact and the efficiency of expenditure policies, focusing on the extent to which they succeed in providing all citizens with their share of the benefits due to natural resources. - Highlights: ► We examine the relationship between resource rents and government resource revenues. ► We discuss the intertemporal management of resource revenues in theory and in practice. ► We critically examine existing policies for distributing resource revenues to populations.
Karantininis, Kostas; Graversen, Jesper Tranbjerg
, when building the broiler house, to prepare a viable future change in production from broilers to pigs. This will increase the bargaining power to farmers and may result in higher producer prices. Based on the general model of the hold-up problem with co-specific investments (Koss & Eaton, 1997......This paper examines the problem of hold-up in the agri-food sector. Production contracts offered to future Danish Broiler producers give rise to specific investments and appropriable quasi rents. Farmers are vulnerable to opportunistic behaviour by poultry processors which materializes in lower...... prices and results in lower investments. One obvious alternative to producing broilers is to produce pigs; since the pork industry is very well developed with the pork slaughter and processing being mainly (more than 90 %) run by two producer-owned cooperatives. Then it might be possible for the farmer...
Schröder, C; Behnke, M; Geffers, C; Gastmeier, P
In some countries, a relationship between hospital ownership and the occurrence of healthcare-associated infection (HCAI) rates has been described. To investigate the association between hospital ownership and occurrence of HCAI in Germany. Five different components of the German national nosocomial infection surveillance system were analysed with regard to the influence of hospital ownership in the period 2014-2016. Endpoints included ventilator-associated pneumonia, central-venous-catheter-associated bloodstream infections, urinary-catheter-associated urinary tract infections, surgical site infections (SSI) following hip prosthesis and colon surgery, meticillin-resistant Staphylococcus aureus (MRSA), Clostridium difficile infections (CDI) and hand rub consumption per 1000 patient-days. Three hospital ownership types (public, non-profit and private) were analysed using univariate and multi-variate methods. The distribution of hospitals according to the three ownership types was similar in all components. In total, 661 intensive care units (ICUs), 149 departments performing colon procedures, and 349 departments performing hip prosthesis were included. In addition, 568 hospitals provided their MRSA rates and 236 provided their CDI rates, and 1833 ICUs and 12,934 non-ICUs provided their hand rub consumption data. In general, the differences between the hospital types were rather small and not significant for the ICUs. In the multi-variate analysis, public hospitals had a lower SSI rate following hip prosthesis (odds ratio 0.80, 95% confidence interval 0.65-0.99). Hospital ownership was not found to have a major influence on the incidence of HCAI in Germany. Copyright © 2018 The Healthcare Infection Society. Published by Elsevier Ltd. All rights reserved.
Huang, Sean Shenghsiu; Bowblis, John R
Ownership of nursing homes (NHs) has primarily focused broadly on differences between for-profit (FP), nonprofit (NFP), and government-operated facilities. Yet, among FPs, the understanding of detailed ownership structures at individual NHs is rather limited. Particularly, NH administrators may hold significant equity interests in their facilities, leading to heterogeneous financial incentives and NH outcomes. Through the principal-agent theory, this article studies how managerial ownership of individual facilities affects NH outcomes. We use a unique panel dataset of Ohio NHs (2005-2010) to empirically examine the relationship between managerial equity ownership and NH staffing, quality, and financial performance. We identify facility administrators as owner-managers if they have more than 5% of the equity stakes or are relatives of the owners. The statistical analysis is based on the pooled ordinary least squares and NH-fixed effect models. We find that owner-managed NHs are associated with higher nursing staff levels compared to other FP NHs. Surprisingly, despite higher staffing levels, owner-managed NHs are not associated with better quality and we find no statistically significant difference in financial performance between owner-managed and nonowner-managed FP NHs. Our results do not support the principal-agent model and we offer alternative explanations for future research. Our findings provide empirical evidence that NH ownership structures are more nuanced than simply broadly categorizing facilities as FP or NFP, and our results do not fully align with the standard principal-agent model. The role of managerial ownership should be considered in future NH research and policy discussions. © The Author 2017. Published by Oxford University Press on behalf of The Gerontological Society of America. All rights reserved. For permissions, please e-mail: firstname.lastname@example.org.
Layton, Oliver W; Yazdanbakhsh, Arash
Camouflaged animals that have very similar textures to their surroundings are difficult to detect when stationary. However, when an animal moves, humans readily see a figure at a different depth than the background. How do humans perceive a figure breaking camouflage, even though the texture of the figure and its background may be statistically identical in luminance? We present a model that demonstrates how the primate visual system performs figure-ground segregation in extreme cases of breaking camouflage based on motion alone. Border-ownership signals develop as an emergent property in model V2 units whose receptive fields are nearby kinetically defined borders that separate the figure and background. Model simulations support border-ownership as a general mechanism by which the visual system performs figure-ground segregation, despite whether figure-ground boundaries are defined by luminance or motion contrast. The gradient of motion- and luminance-related border-ownership signals explains the perceived depth ordering of the foreground and background surfaces. Our model predicts that V2 neurons, which are sensitive to kinetic edges, are selective to border-ownership (magnocellular B cells). A distinct population of model V2 neurons is selective to border-ownership in figures defined by luminance contrast (parvocellular B cells). B cells in model V2 receive feedback from neurons in V4 and MT with larger receptive fields to bias border-ownership signals toward the figure. We predict that neurons in V4 and MT sensitive to kinetically defined figures play a crucial role in determining whether the foreground surface accretes, deletes, or produces a shearing motion with respect to the background. Copyright © 2014 Elsevier Ltd. All rights reserved.
. This time disguised in terms like empowerment and unequal opportunities but just as politicised as in the 1970s. In light of the current anti-Chinese sentiments in Zambia, this paper seeks to further our understanding of private sector policy making in Zambia. It argues that populist politics, referring...... been particularly present in all sectors of the Zambian economy. Foreign ownership, however, is not new to African societies and several African countries pursued indigenisation policies in the wake of independence to bring ownership back to their own citizens. Now indigenisation policies thrive again...
Jeurissen, Danique; Self, Matthew W; Roelfsema, Pieter R
The Differentiation-Integration for Surface Completion (DISC) model aims to explain the reconstruction of visual surfaces. We find the model a valuable contribution to our understanding of figure-ground organization. We point out that, next to border-ownership, neurons in visual cortex code whether surface elements belong to a figure or the background and that this is influenced by attention. We furthermore suggest that there must be strong links between object recognition and figure-ground assignment in order to resolve the status of interior contours. Incorporation of these factors in neurocomputational models will further improve our understanding of surface reconstruction, figure-ground organization, and border-ownership.
WJ Du Plessis
Full Text Available It is often stated that indigenous law confers no property rights in land. Okoth-Ogenda reconceptualised indigenous land rights by debunking the myth that indige-nous land rights systems are necessarily "communal" in nature, that "ownership" is collective and that the community as an entity makes collective decisions about the access and use of land.1 He offers a different understanding of indigenous land rights systems by looking at the social order of communities that create "reciprocal rights and obligations that this binds together, and vests power in the community members over land". To determine who will be granted access to or exercise control over land and the resources, one needs to look at these rights and obligations and the performances that arise from them. This will leave only two distinct questions: who may have access to the land (and what type of access2 and who may control and manage the land resources on behalf of those who have access to it?3There is a link with this reconceptualisation and the discourse of the commons. Os-trom's classification of goods leads to a definition of the commons (or common pool of resources as "a class of resources for which exclusion is difficult and joint use in-volves subtractablity".4 The questions this article wishes to answer are: would it firstly be possible to classify the indigenous land rights system as a commons, and sec-ondly would it provide a useful analytical framework in which to solve the problem of securing land tenure in South Africa?
... 26 Internal Revenue 10 2010-04-01 2010-04-01 false Coordination with personal holding company provisions in case of certain produced film rents. 1.992-4 Section 1.992-4 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Domestic International...
... HMFA. Las Vegas-Paradise, NV MSA New Haven-Meriden, CT HMFA. North Port-Bradenton-Sarasota, FL MSA... areas of New Jersey, Anchorage and several non-metropolitan areas of Alaska, Dallas, TX and Burlington... Projects and Low-Income Housing Tax Credit Projects at Risk If a current HUD Section 8 project uses rents...
... 2%) on the cost of the prospective capital investment. Each specific use of Return on Investment... customer agency. Once the ROI methodology is employed to establish Rent for a capital investment, the ROI...-owned buildings, a return on investment pricing approach if an appraisal-determined rental value does...
Chee, Heng Leng
The recent history of healthcare privatisation and corporatisation in Malaysia, an upper middle-income developing country, highlights the complicit role of the state in the rise of corporate healthcare. Following upon the country's privatisation policy in the 1980s, private capital made significant inroads into the healthcare provider sector. This paper explores the various ownership interests in healthcare provision: statist capital, rentier capital, and transnational capital, as well as the contending social and political forces that lie behind state interests in the privatisation of healthcare, the growing prominence of transnational activities in healthcare, and the regional integration of capital in the healthcare provider industry. Civil society organizations provide a small but important countervailing force in the contention over the future of healthcare in the country. It is envisaged that the healthcare financing system will move towards a social insurance model, in which the state has an important regulating role. The important question, therefore, is whether the Malaysian government, with its vested interests, will have the capacity and the will to play this role in a social insurance system. The issues of ownership and control have important implications for governance more generally in a future healthcare system.
Full Text Available The purpose of this paper is to discuss the consequences of China’s outward direct investments in Africa in terms of enterprises with different ownership types. First, this paper contributes to the examination of a large number of Chinese enterprises’ investment projects in Africa. Second, in addition to the investment activities of central state-owned enterprises, investment activities initiated by local state-owned enterprises and private enterprises are also addressed in this paper. Third, this paper demonstrates the diversity ofChinese investment in Africa through the discussion of a large number of cases. We find that the motives of central state-owned enterprises comply with government policies. However, most private enterprises and non-central state-owned enterprises invest in Africa for profit considerations. This paper concludes that China’s investments in Africa are diverse and complex and cannot be explained using a single model of the extant theories.
Full Text Available We study the effect of board governance in state-owned and private banks by undertaking a study of commercial banks in India that has both bank groups. Covering a ten-year period from 2003 to 2012 that witnessed a large number of governance reforms in India, the results of our empirical analysis provide evidence of strong ownership effects with board independence exhibiting a significant positive correlation with the performance of private banks and a significant but negative correlation with the performance of state-owned banks. The effect of CEO duality is negative in state-owned banks where incidence of CEO duality is high. We find that a longer CEO tenure has significant positive effects on bank outcomes with these effects strengthening in the later years of CEO tenure. Our results have governance implications for strengthening the composition of board of directors and CEO tenure especially in state-owned banks.
Dompere, Kofi Kissi
This volume presents an analysis of the problems and solutions of the market mockery of the democratic collective decision-choice system with imperfect information structure composed of defective and deceptive structures using methods of fuzzy rationality. The book is devoted to the political economy of rent-seeking, rent-protection and rent-harvesting to enhance profits under democratic collective decision-choice systems. The toolbox used in the monograph consists of methods of fuzzy decision, approximate reasoning, negotiation games and fuzzy mathematics. The monograph further discusses the rent-seeking phenomenon in the Schumpeterian and Marxian political economies where the rent-seeking activities transform the qualitative character of the general capitalism into oligarchic socialism and making the democratic collective decision-choice system as an ideology rather than social calculus for resolving conflicts in preferences in the collective decision-choice space without violence.
Wesolowski, Amy; Eagle, Nathan; Noor, Abdisalan M; Snow, Robert W; Buckee, Caroline O
The rapid adoption of mobile phone technologies in Africa is offering exciting opportunities for engaging with high-risk populations through mHealth programs, and the vast volumes of behavioral data being generated as people use their phones provide valuable data about human behavioral dynamics in these regions. Taking advantage of these opportunities requires an understanding of the penetration of mobile phones and phone usage patterns across the continent, but very little is known about the social and geographical heterogeneities in mobile phone ownership among African populations. Here, we analyze a survey of mobile phone ownership and usage across Kenya in 2009 and show that distinct regional, gender-related, and socioeconomic variations exist, with particularly low ownership among rural communities and poor people. We also examine patterns of phone sharing and highlight the contrasting relationships between ownership and sharing in different parts of the country. This heterogeneous penetration of mobile phones has important implications for the use of mobile technologies as a source of population data and as a public health tool in sub-Saharan Africa.
... 42 Public Health 5 2010-10-01 2010-10-01 false Software and ownership rights. 495.360 Section 495.360 Public Health CENTERS FOR MEDICARE & MEDICAID SERVICES, DEPARTMENT OF HEALTH AND HUMAN SERVICES (CONTINUED) STANDARDS AND CERTIFICATION STANDARDS FOR THE ELECTRONIC HEALTH RECORD TECHNOLOGY INCENTIVE...
Maximiano, S.; Sloof, R.; Sonnemans, J.
Numerous gift exchange experiments have found a positive relationship between employers' wage offers and workers' effort levels. In (almost) all these experiments the employer both owns and controls the firm. Yet in reality many firms are characterized by the separation of ownership and control. In
... exceed the remaining economic life of the housing or 50 years, whichever is less. (3) The Agency may... ownership transfer or sale over a period not to exceed the remaining economic life of the housing or 50... years or the remaining economic life of the housing, whichever is less. (3) When loans assumed through...
Commander, S.; Švejnar, Jan
-, č. 65 (2008), s. 1-73 ISSN N Institutional research plan: CEZ:AV0Z70850503 Keywords : firm performance * ownership * competition * export Subject RIV: AH - Economics http://deepblue.lib.umich.edu/bitstream/2027.42/60636/4/IPC-working%20paper-065-CommanderSvejnar.pdf
Argon, Türkan; Ekinci, Serkan
This study aimed to identify Bolu central district secondary school teachers' views on organizational deviance, psychological ownership and social innovation and to determine whether these views were related. The universe of the study conducted with relational screening model was composed of 360 teachers employed in Bolu central district secondary…
Clayton, Richard E., Ed.
A study was made to identify and provide information and factors which should be taken into consideration by a municipality in its development of policy regarding the ownership, franchising, and ordinance issues involved in cable television. Since the report discusses Southern California activities, specifically those of the San Gabriel Valley, it…
Though ITNs are the most prominent measure for large-scale deployment in highly endemic areas their compliance in terms of ownership and usage needs attention. The aim of this study was therefore to ... included from malarious areas. Data were collected by using structured questionnaires and observational checklist.
Rapp, Marc Steffen; Trinchera, Oliver
In this paper, we explore an extensive panel data set covering more than 4,000 listed firms in 16 European countries to study the effects of shareholder protection on ownership structure and firm performance. We document a negative firm-level correlation between shareholder protection and ownersh...
Johnson, Victoria; Currie, Graham; Stanley, Janet
A need to better understand the multidimensional nature of disadvantage is leading to the adoption of a wider range of measurement variables. One variable now commonly adopted is zero car ownership. This paper challenges the logic of including "not having a car" as an indicator of disadvantage. It argues that this can distort the real picture of…
i.e. the principal or dominant right and ownership of third party rights which are ... English land law.6 In 1974, John Henry Merryman explained the difference .... 11 The doctrine of estate has its origin in the medieval theory of English land ...
Riyanto, Y.E.; Toolsema-Veldman, Linda
This paper links existence of the pyramidal ownership structure to tunneling and propping. Tunneling refers to a transfer of resources from a lower-level firm to a higher-level firm in the pyramidal chain, whereas propping concerns a transfer in the opposite direction intended to bail out the
Riyanto, Y.E.; Toolsema-Veldman, Linda
This paper presents a formal model of tunneling and propping in a pyramidal ownership structure. Tunneling refers to controlling shareholders shifting resources from one firm to another in the same pyramid. Propping is tunneling that is done to save the receiving firm from bankruptcy. We compare the
This paper discusses the ways in which urban widows in Uganda are deprived of home ownership upon the death of their husbands. It is based on a qualitative research conducted in the middle-income areas of Kampala between 2004 and 2007. The results show that the institutional legal framework and the patriarchal ...
A. Paige Fischer; Susan. Charnley
Managing natural processes at the landscape scale to promote forest health is important, especially in the case of wildfire, where the ability of a landowner to protect his or her individual parcel is constrained by conditions on neighboring ownerships. However, management at a landscape scale is also challenging because it requires cooperation on plans and actions...
Roč. 21, č. 2 (2008), s. 285-310 ISSN 1225-0279 R&D Projects: GA ČR GA402/06/1293 Institutional research plan: CEZ:MSM0021620846 Keywords : company ownership * transformation * corporate performance Subject RIV: AH - Economics http://econ.snu.ac.kr/~ecores/publication.html
Smith, David W. E.; And Others
Examined two issues of pet ownership in mail questionnaire and interview survey of 1,595 older adults over age 60, 377 of whom had a pet. Found evidence that pets were important determinant of housing choice. Many elderly pet owners had made no arrangements for pet if they predecease it or become unable to care for it. (Author/NB)
Lensink, B.W.; Meester, A.; Naaborg, I.
This paper contributes to the literature on foreign ownership and bank efficiency by examining whether the efficiency of foreign banks depends on the institutional quality of the host country and on institutional differences between the home and host country. Using stochastic frontier analysis for a
Previous literature suggests that the adoption of International Financial Reporting Standards (IFRS) can facilitate cross-border capital flows, as it results in an increase in market liquidity and comparability benefits. Using foreign ownership levels in South African listed companies during the period 2003 to 2007, we test ...
Jeurissen, D.; Self, M.W.; Roelfsema, P.R.
The Differentiation-Integration for Surface Completion (DISC) model aims to explain the reconstruction of visual surfaces. We find the model a valuable contribution to our understanding of figure-ground organization. We point out that, next to border-ownership, neurons in visual cortex code whether
Jeurissen, Danique; Self, Matthew W.; Roelfsema, Pieter R.
Abstract The Differentiation-Integration for Surface Completion (DISC) model aims to explain the reconstruction of visual surfaces. We find the model a valuable contribution to our understanding of figure-ground organization. We point out that, next to border-ownership, neurons in visual cortex code
Dam, Lammertjan; Scholtens, Bert
This study investigates how ownership concentration in European multinational firms is associated with these firms' corporate social responsibility (CSR). We employ factor analysis on responsibility data from EIRiS and use a regression analysis. Using firm-level data for almost 700 European firms,
Earnhart, D.; Lízal, Lubomír
Roč. 13, č. 4-5 (2002), s. 67-68 ISSN 1020-5470 Institutional research plan: CEZ:AV0Z7085904 Keywords : ownership structures * privatization * financial performance Subject RIV: AH - Economics http://go.worldbank.org/JL12RVXEW0
Earnhart, D.; Lízal, Lubomír
Roč. 2002, č. 203 (2002), s. 1-48 ISSN 1211-3298 Institutional research plan: CEZ:AV0Z7085904 Keywords : Czech Republic * environmental protection * pollution -ownership Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp203.pdf
van Ommeren, J.N.; Gutierrez Puigarnau, E.
We analyse the effects of distortionary company car taxation through increased household car consumption for the Netherlands. We use several identification strategies and demonstrate that for about 20 % of households company car possession increases car ownership. The annual welfare loss of
Busterna, John C.
Explores whether different levels of a manager's ownership of a newspaper affects the manager's profit maximizing attitudes and behavior. Finds that owner-managers tend to place less emphasis on profits than non-owner-controlled newspapers, contrary to economic theory and empirical evidence from other industries. (RS)
Olckers, C.; van Zyl, L.; van der Vaart, L.
This book shares the theoretical advancements that have been made regarding psychological ownership since the development of the construct and specifically the practical applications within multi-cultural and cross-cultural environments. Enriched by empirical data and case studies by subject
Artiklen reviewer den eksisterende litteratur vedrørende økonomistyringsværktøjerne Total Cost of Ownership (TCO) og Cost-to-Serve (CtS). Herefter kortlægges det, hvordan TCO og CtS bidrager til en identificering af direkte omkostninger såvel som indirekte omkostninger henholdsvis up-stream og down...