Firm compliance with social insurance obligations where there is a weak surveillance and enforcement mechanism: empirical evidence from Shanghai

This article examines why firms in Shanghai comply or over-comply with social insurance obligations in a regulatory environment where the expected punishment for non-compliance is low. Our first finding is that firms found to be in non-compliance in the first audit in 2001 were moved into a separate violation category and the probability of being reaudited in 2002 was significantly higher if the firm was in that category. Our second main result is that, across the board, firms which were reaudited continued to underpay in 2002 but the extent of underpayment was significantly reduced. © 2007 The Authors. Journal compilation © 2007 Blackwell Publishing Ltd.

Coal - the black gold of economic growth in China: empirical evidence and the role of cleaner coal technologies in recent time

Coal comprises 70 per cent of China’s primary energy source and 80 per cent of China's electricity generation. This study investigates the long-run relationship between coal consumption-economic growth nexus considering both supply and demand side models in a multivariate framework over the period of 1978 and 2010. Our innovation in this paper is to include a coal-to-electricity efficiency indicator into the economic growth model ; and trade exposure in coal demand. Using Autoregressive Distributed Lag bounds testing approach, we find improvement in coal-to-efficiency indicator causes almost 35 per cent increase in real GDP in the long-run. The Toda-Yamamoto approach of causality test indicates unidirectional causality from coal consumption to economic growth; feedback effect both for coal-to-electricity efficiency indicator to economic growth and openness to coal consumption. For robustness check, using the generalised forecast error variance decomposition method we forecast the validity of causal relationships beyond the sample horizon. The paper suggests the role of advanced coal technologies will play a significant role along with other environmental and energy policies in maintaining sustainable economic growth in China .

New empirical evidence on the bid-ask spread

In this article, we model the determinants of spread for 734 firms listed on the NYSE over the period 1 January 1998 to 31 December 2008. We propose a panel data model of the determinants of spread. There are four main messages emerging from our work. We find a statistically significant effect of volume on spread inconsistent with the work of Johnson (2008). On price, we find mixed results, consistent with the literature. On the effect of price volatility on spread, our results are completely the opposite of the cross-sectional literature but sides with the relatively recent work of Chordia et al. (2001). We allow for persistence of spread as a determinant of spread and find significant evidence of spread persistence across all 16 sectors. Finally, we examine size effects and find statistically strong evidence of size effects based on the relationship between price and spread, persistence and spread, and volatility and spread.

Agriculture, trade openness and emissions: an empirical analysis and policy options

This article investigates the impact of sectoral production allocation, energy usage patterns and trade openness on pollutant emissions in a panel consisting of high-, medium- and low-income countries. Extended STIRPAT (Stochastic Impact by Regression on Population, Affluence and Technology) and EKC (Environmental Kuznets Curve) models are conducted to systematically identify these factors driving CO2 emissions in these countries during the period 1980–2010. To this end, the studyemploys three different heterogeneous, dynamic mean group-type linear panel modelsand one nonlinear panel data estimation procedure that allows for cross-sectionaldependence. While affluence, nonrenewable energy consumption and energy intensity variables are found to drive pollutant emissions in linear models, population is also found to be a significant driver in the nonlinear model. Both service sector and agricultural value-added levels play a significant role in reducing pollution levels, whereas industrialisation increases pollution levels. Although the linear model fails totrack any significant impact of trade openness, the nonlinear model finds trade liberalisation to significantly affect emission reduction levels. All of these results suggest that economic development, and especially industrialisation strategies and environmental policies, need to be coordinated to play a greater role in emission reduction due to trade liberalisation.

Intellectual capital disclosures and corporate governance: an empirical examination

© 2015 Elsevier Ltd. Empirical examinations of the links between corporate governance and intellectual capital are underresearched, particularly from the context of emerging economies where corporate governance mechanisms tend to be largely ceremonial due to family dominance. This study aims to address this gap in the intellectual capital disclosure (ICD) literature by undertaking an empirical examination of the relationship between corporate governance and the extent of ICD of Bangladeshi companies. Inter alia, the key findings of this study suggest that there is a non-linear relationship between family ownership and the extent of ICD. This research also found that foreign ownership, board independence, and the presence of audit committees are positively associated with the extent of ICD. Conversely, family duality (i.e., where the positions of CEO and chairperson are occupied by two individuals from the same family) is negatively associated with the extent of ICD.

Empirical evidence of recall bias for primary health care visits

BACKGROUND: While it is common for an economic evaluation of health care to rely on trial participants for self-reported health service utilisation, there is variability in the accuracy of this data due to potential recall bias. The aim of this study was to quantify the level of recall bias in self-reported primary health care general practitioner (GP) visits following inpatient rehabilitation over a 12 month period.

METHODS: This report is a secondary analysis from a larger randomised control trial of an economic evaluation of additional Saturday inpatient rehabilitation. Participants were adults who had been discharged into the community following admission to an acute general rehabilitation hospital. Participants were asked to recall primary health care visits, including community GP visits, via a telephone questionnaire which was administered at 6 and 12 months following discharge from inpatient rehabilitation. Participants were asked to recall health service utilisation over each preceding 6 month period. The self-reported data were compared to equivalent claims data from the national insurer, over the same period.

RESULTS: 751 participants (75% of the full trial) with a mean age of 74 years (SD 13) were included in this analysis. Over the 12 month period following discharge from rehabilitation there was an under-reporting of 14% in self-reported health service utilisation for GP visits compared to national insurer claims data over the same period. From 0 to 6 months following discharge from rehabilitation, there was an over-reporting of self-reported GP visits of 35% and from 7 to 12 months there was an under-reporting of self-reported GP visits of 36%, compared to national insurer claims data over the same period. 46% of patients reported the same or one number difference in self-reported GP visits between the 0 to 6 and the 7 to 12 month periods.

CONCLUSION: Based on these findings we recommend that an economic evaluation alongside a clinical trial for an elderly adult rehabilitation population include a sensitivity analysis that inflates self-reported GP visits by 16% over 12 months. However caution is required when utilising self-reported GP visits as the data may contain periods of both over and under reporting. Where general practitioner visits are expected to vary significantly between intervention and control groups we recommend that administrative data be included in the trial to accurately capture resources for an economic evaluation.

How do SMEs with single and multiple owners finance their operations differently? Empirical evidence from China

We study the impact of firm-level characteristics on the capital structures of private small and medium-sized enterprises (SMEs) as well as the differences between the capital structures adopted by SMEs with single and multiple owners in China. Our findings highlight the limited use of asset-based financing by Chinese SMEs. We also find that the propensity of SMEs with single-owners to use external debt was significantly less than those with multiple owners. Furthermore, our findings suggest that single-owned firms are subject to a more constrained pecking order than those with multiple owners.

An empirical study to review and revise job responsibilities of software testers

The broad domain of software testing includes different job responsibilities such as creating test plans, devising and running a variety of tests, documenting results, to liaising between different development teams. In this paper, we attempt to collate a list of software testing job responsibilities by applying three different social research methodologies to collect information from different sources. We found that 'test' specific responsibilities are divided into several unit tasks including test suite generation, execution of test plans, and so on. We also found that along with test specific responsibilities, software testers must perform a number of other tasks common to other IT professionals in order to carry out their roles. © 2014 IEEE.

An empirical investigation of personality traits of software testers

Software testing is the process of an execution based investigation of some aspects of the software's quality. The efficiency of the process depends on the methods and technologies used, but crucially also on the human testers. Software testers typically attempt to anticipate and expose ways software may be defective, a fundamentally different task set to those of other software development practitioners. This raises the question of whether the personality of software testers may be different to other people involved in software development. To test this hypothesis, we collected personality profiles using the big five factor model of around 200 software development practitioners. Analysis of this data indicates that software testers are significantly higher on the conscientiousness factor than other software development practitioners, while other factors remain broadly consistent.

The new Keynesian Phillips curve: an update on recent empirical advances

This paper presents a comprehensive review of the newly emerging literature on the New Keynesian Phillips Curve (NKPC). The theoretical predictions, econometric estimation techniques as well as the corresponding empirical evidence are discussed focusing on both the closed economy and the open economy versions of the NKPC. A number of important findings are reported about the ability of NKPC to explain the process of inflation dynamics. First, there is weak support for the open economy version of the NKPC to be able to track inflation dynamics if imported inputs are used in the production process. Second, the NKPC describes inflation dynamics across sectors if microeconomic and sectoral level data are used. Further, the survey data employed as a proxy for inflation measure in the newer studies provide enhanced support to the closed economy NKPC with the sign, size and statistical significance of coefficients in line with the theoretical predictions. We provide fresh empirical evidence to check the first finding from the review. The deep structural parameters for four different versions of the NKPC, the pure forward looking NKPC, the Gali and Monacelli's (2005) NKPC, the open economy NKPC and the open economy hybrid NKPC, are estimated for Australia, Canada, New Zealand and the United Kingdom. These estimated coefficients show some support that the specifications of open economy NKPC, which incorporate prices of imported goods as opposed to the terms of trade and real exchange rate, seems to be a better, however, weak indicator of the inflation dynamics. These findings may have important policy implications.

Stock market liquidity and firm value : an empirical examination of the Australian market

We document a positive relation between stock liquidity and firm value. We examine the mechanism through which stock market liquidity enhances firm value by dividing firm value, as measured by Tobin’s Q, into three components, namely, operating income to price, leverage, and operating income to assets. Using the switch to broker anonymity as an exogenous shock to market liquidity, we show that the increase in liquidity around the shock leads to an increase in firm value. Our results suggest that higher firm value for more liquid stocks seems to stem from enhanced stock prices rather than from better operating performance.

Security and privacy concerns for Australian SMEs cloud adoption: empirical study of metropolitan vs regional SMEs

New national infrastructure initiatives such as the National Broadband Network (NBN) allow small and medium-sized enterprises (SMEs) in Australia to have greater access to cost effective Cloud computing. However, the ability of Cloud computing to store data remotely and share services in a dynamic environment brings with it security and privacy concerns. Evaluating these concerns is critical to address the Cloud computing underutilisation issue and leverage the benefits of costly NBN investment. This paper examines the influence of privacy and security factors on Cloud adoption by Australian SMEs in metropolitan and regional area. Data were collected from 150 Australian SMEs (specifically, 79 metropolitan SMEs and 71 regional SMEs) and structural equation modelling was used for the analysis. The findings reveal that privacy and security factors do not significantly influence the decision-making of Australian SMEs in the adoption of Cloud computing. Moreover, the results indicate that Cloud computing adoption is not influenced by the geographical location (i.e., metropolitan or regional location) of the SMEs. The findings extend the current understanding of Cloud computing adoption by Australian SMEs. The results will be useful to SMEs, Cloud service providers and policy makers devising Cloud security and privacy policies.