The influence of the quality of government institutions on entrepreneurial motivation: exploring the variance across countries

Despite the increasing understanding of the relationships between institutions and entrepreneurship, the influence of the quality of government institutions on entrepreneurship is less addressed. This paper focuses on this critical determinant of entrepreneurship in developing and developed countries. Drawing from institutional theory we hypothesize and empirically assess the role of the quality of institutions in entrepreneurial activity. We examine how the quality of government institutions influences the rate of necessity-based entrepreneurial activity across countries and over time by using a cross-sectional time-series approach on data from the Global Entrepreneurship Monitor (GEM) database covering the years 2001–2011. Our results suggest that higher economic development associated with better quality of institutions reduces the prevalence of necessity-based entrepreneurship. Our findings imply that developing countries must rationally organize their functions, and seek to remove unnecessary barriers, decrease political instability, and controls that hamper entrepreneurial activity

Effects of Government Ownership on Firm Performance: Evidence from Finnish Companies

Tutkimuksen tarkoituksena on selvittää, miten valtionomistajuus vaikuttaa yrityksen suorituskykyyn suomalaisissa pörssinoteeratuissa valtionyhtiöissä, joissa valtio toimii pää- tai osaomistajana. Suorituskykyä tutkitaan kandella eri menetelmällä. Ensin tutkitaan osaketuottoja Jensenin alfan avulla, jonka jälkeen suoritetaan tilinpäätöstunnuslukujen toimialavertailu. Tutkimuksen teoriaosuudessa esitetään yksityistämisen tuottamia etuja yrityksen taloudelliseen suorituskykyyn, sekä myöskin valtionomistajuuden tuottamia etuja. Lisäksi teoriaosuudessa käsitellään aikaisempien empiiristen tutkimusten tuloksia valtionomistajuuden vaikutuksista. Tämän tutkimuksen empiirisessä osiossa käytettävä data on saatu osakedatan osalta Datastreamista ja tilinpäätöstunnuslukujen osalta Balance Consulting Oy:ltä. Kokonaisosakedataa koskeva tutkimus Jensenin alfalla ei osoittanut valtionyhtiöiden toimivan tehottomasti, vaan osoitti yritysten kyenneen tuottamaan epänormaaleja tuottoja riskitasoonsa nähden. Vuositasolle pilkotun datan analysointi sen sijaan tuotti useita negatiivisia alfoja yrityksille eli merkkejä tehottomuudesta tiettyinä vuosina. Lisäksi tilinpäätöstunnuslukujen analysointi osoitti osan valtionyhtiöistä olleen pääosin omaa toimialaansa tehottomampia, kun taas osa kykenipäihittämään toimialansa.

Consumption, investment and life insurance strategies with heterogeneous discounting

[cat] En aquest treball s'analitza l'efecte que comporta l'introducció de preferències inconsistents temporalment sobre les decisions òptimes de consum, inversió i compra d'assegurança de vida. En concret, es pretén recollir la creixent importància que un individu dóna a la herència que deixa i a la riquesa disponible per a la seva jubilació al llarg de la seva vida laboral. Amb aquesta finalitat, es parteix d'un model estocàstic en temps continu amb temps final aleatori, i s'introdueix el descompte heterogeni, considerant un agent amb una distribució de vida residual coneguda. Per tal d'obtenir solucions consistents temporalment es resol una equació de programació dinàmica no estàndard. Per al cas de funcions d'utilitat del tipus CRRA i CARA es troben solucions explícites. Finalment, els resultats obtinguts s'il·lustren numèricament.

Consumption, investment and life insurance strategies with heterogeneous discounting

[cat] En aquest treball s'analitza l'efecte que comporta l'introducció de preferències inconsistents temporalment sobre les decisions òptimes de consum, inversió i compra d'assegurança de vida. En concret, es pretén recollir la creixent importància que un individu dóna a la herència que deixa i a la riquesa disponible per a la seva jubilació al llarg de la seva vida laboral. Amb aquesta finalitat, es parteix d'un model estocàstic en temps continu amb temps final aleatori, i s'introdueix el descompte heterogeni, considerant un agent amb una distribució de vida residual coneguda. Per tal d'obtenir solucions consistents temporalment es resol una equació de programació dinàmica no estàndard. Per al cas de funcions d'utilitat del tipus CRRA i CARA es troben solucions explícites. Finalment, els resultats obtinguts s'il·lustren numèricament.

Europeanization or Party Politics? Explaining Government Choice for Corporatist Concertation

This article assesses whether changes in government choice for policy concertation with trade unions and employers are better explained by international or domestic factors. We compare patterns of corporatist governance in a strongly Europeanized policy domain (labor migration policy) and in a weakly Europeanized policy domain (welfare state reforms) over the last 20 years in Austria and Switzerland. We show that there is no systematic difference in patterns of concertation between the two policy sectors and that factors linked to party politics play a bigger role in the choice of governments for concertation. If the base of party support for policies is divided, governments are more prone to resort to corporatist concertation as a way to build compromises for potentially controversial or unpopular policies. By contrast, ideologically cohesive majority coalitions are less prone to resort to concertation because they do not need to build compromises outside their base of party support.

Hollywood Films in the Non-Western World: What Are the Criteria Followed by the Chinese Government When Choosing Hollywood Film Imports?

This dissertation argues that the Government of the People’s Republic of China, when it made the decision to import a quota of Hollywood films in 1994 to revive the failing domestic film industry, had different possible criteria in mind. This project has studied four of them: first, importing films that gave a negative image of the United States; second, importing films that featured Chinese talent or themes; third, importing films that were box office hits in the United States; and fourth, importing films with a strong technological innovation ingredient. In order to find out the most important criteria for the Chinese Government, this dissertation offers a dataset that analyzes a population of 262 Hollywood films released in the PRC between 1994 and 2010. For each unit, a method has been developed to compile data that will determine whether the film reflects any of the four criteria, and findings in the form of yearly percentages have been drawn. Results show that, out of the four studied criteria, the two predominant reasons for China to import films were technological innovation and box office hits. This tells us that, at this point, the Chinese Government shows more interest in obtaining big revenues and learning from technically innovative American films than in delivering underlying political messages. This dissertation contributes to the existing literature by analyzing the content of all the films imported by China between 1994 and 2010, while integrating in the analysis variables based on the existing knowledge.

The Institutional, Economic and Social Determinants of Local Government Transparency

Interest in public accountability and government transparency is increasing worldwide. The literature on the determinants of transparency is evolving but is still in its early stages. So far, it has typically focused on national or regional governments while neglecting the local government level. This paper builds on the scarce knowledge available in order to examine the economic, social, and institutional determinants of local government transparency in Spain. We draw on a 2010 survey and the transparency indexes constructed by the NGO Transparency International (Spain) in order to move beyond the fiscal transparency addressed in previous work. In so doing, we broaden the analysis of transparency to the corporate, social, fiscal, contracting, and planning activities of governments. Our results on overall transparency indicate that large municipalities and left-wing local government leaders are associated with better transparency indexes; while the worst results are presented by provincial capitals, cities where tourist activity is particularly important and local governments that enjoy an absolute majority. The analysis of other transparency categories generally shows the consistent impact of these determinants and the need to consider a wider set of variables to capture their effect.

Transparency and trust in government (2007-2014): a comparative study

In a 2000 report entitled "Trust in government. Ethics measures in OECD countries," OECD Secretary-General Donald J. Johnston emphasized the fact that public ethics are considered as a keystone of good governance. Moreover, public ethics are a prerequisite to public trust, which is in turn vital not only to any public service, but also to any society in general. At the same time, transparency reforms have flourished over the last few years and have several times been designed as a response to public distrust. Therefore, ethics, transparency and trust are closely linked together in a supposed virtuous circle where transparency works as a factor of better public ethics and leads to more trust in government on the citizens' side. This article explores the links between transparency and levels of trust in 10 countries between 2007 and 2014, using open data indexes and access to information requests as proxies for transparency. A national ranking of transparency, based on requests submitted by citizens to the administration and open data indexes, is then proposed. Key findings show that there is no sharp decline of trust in government in all countries considered in this article, and that transparency and trust in government are not systematically positively associated. Therefore, this article challenges the common assumption, mostly found in the normative literature, about a positive interrelation between the two, where trust in government is conceived as a beneficial effect of administrative transparency.

Towards a Network Government? A critical analysis of current assessment methods for e-Government

Contemporary public administrations have become increasingly more complex, having to cordinate actions with emerging actors in the public and the private spheres. In this scenario the modern ICTs have begun to be seen as an ideal vehicle to resolve some of the problems of public administration. We argue that there is a clear need to explore the extent to which public administrations are undergoing a process of transformation towards a netowork government linked to the systematic incorporation of ICTs in their basic activities. Through critically analysing a selection of e-government evaluation reports, we conclude that research should be carried out if we are to build a solid government assessment framework based on network-like organisation characteristics.

Modelling the disability severity score in motor insurance claims: an application to the Spanish case

Bodily injury claims have the greatest impact on the claim costs of motor insurance companies. The disability severity of motor claims is assessed in numerous European countries by means of score systems. In this paper a zero inflated generalized Poisson regression model is implemented to estimate the disability severity score of victims in-volved in motor accidents on Spanish roads. We show that the injury severity estimates may be automatically converted into financial terms by insurers at any point of the claim handling process. As such, the methodology described may be used by motor insurers operating in the Spanish market to monitor the size of bodily injury claims. By using insurance data, various applications are presented in which the score estimate of disability severity is of value to insurers, either for computing the claim compensation or for claim reserve purposes.