Essays On Government Regulation And Government Governance Structure
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Essays On Government Regulatio
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Author : Bo Zhao
language : en
Publisher: Open Dissertation Press
Release Date : 2017-01-26
Essays On Government Regulatio written by Bo Zhao and has been published by Open Dissertation Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-26 with Business & Economics categories.
This dissertation, "Essays on Government Regulation and Government Governance Structure" by Bo, Zhao, 赵博, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: This thesis consists of two independent studies. The first study works on the effect of government regulation on financial markets. The second study analyses the multitask nature of government regulation in a regionally decentralized authoritarian regime. The first study examines the influences of the 1934 US Securities and Exchange Act on stock markets. The Securities and Exchange Acts of 1933/1934 are the first nationwide public laws of financial regulation in the world. By imposing mandatory information disclosure requirements, these laws are implemented with the aims of reducing speculation and manipulation of stock prices. Subsequent financial regulations all over the world follow the principles embedded in these two laws. However, 80 years later, the effects of these laws on financial markets are still under debate and continue to have deep implications on law and financial development at a global scale. In this study I examine the impact of the 1934 Act in reducing stock idiosyncratic volatility. Monthly firm-level idiosyncratic volatility series for NYSE/AMEX listed firms in the period of 1926 - 1970 are constructed from daily CRSP stock data; voluntary disclosed accounting data from "Moody's Manual of Investments 1934" are manually collected as a proxy of firms' disclosure quality before the law. The comparisons of the firm-level idiosyncratic volatilities before and after the enactment of the Acts show systematic evidence indicating that the Acts significantly reduce idiosyncratic volatility. Moreover, the firms that disclose much less the key accounting information before the implementation of the Acts, have experienced more reductions in volatility and are thus more deeply affected by the Acts than others. In addition, these firms are associated with further reductions in bid-ask spreads and additional improvements in liquidity after the enactment of the Acts. My findings suggest that one of the mechanisms, through which the Acts affect the market, have been identified. The second study explores the governance structure of government in a regionally decentralized authoritarian regime. The organizational form of Chinese central-local government is characterized by regionally decentralized authoritarianism (RDA) (Xu (2011)). This system is a combination of political centralization and economic regional decentralization. Political centralization implies that subnational officials' careers are determined by their superiors instead of constituencies; regional decentralization indicates that subnational governments are empowered to engage in regional development. At the early stage of economic reform, economic growth became the most important task. By utilizing yardstick competition reward based on economic performance, China's central government is successful in incentivizing local government officials to promote economic growth. However, unlike private enterprises, which concentrate on maximizing profits, government agencies are bound to pursue multiple goals. The multitask nature of government has become increasingly prominent and has created serious problems in China. By extending the Holmstrom and Milgrom (1991) multitask principal-agent model to a multitask-multiagent model, I explain under which conditions yardstick competition would fail in motivating local officials, and show that the optimal linear contract designed under a RDA regime is not capable of solving problems generat
Essays On Government Regulation And Government Governance Structure
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Author : Bo Zhao
language : en
Publisher:
Release Date : 2017-01-26
Essays On Government Regulation And Government Governance Structure written by Bo Zhao and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-26 with categories.
This dissertation, "Essays on Government Regulation and Government Governance Structure" by Bo, Zhao, 赵博, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: This thesis consists of two independent studies. The first study works on the effect of government regulation on financial markets. The second study analyses the multitask nature of government regulation in a regionally decentralized authoritarian regime. The first study examines the influences of the 1934 US Securities and Exchange Act on stock markets. The Securities and Exchange Acts of 1933/1934 are the first nationwide public laws of financial regulation in the world. By imposing mandatory information disclosure requirements, these laws are implemented with the aims of reducing speculation and manipulation of stock prices. Subsequent financial regulations all over the world follow the principles embedded in these two laws. However, 80 years later, the effects of these laws on financial markets are still under debate and continue to have deep implications on law and financial development at a global scale. In this study I examine the impact of the 1934 Act in reducing stock idiosyncratic volatility. Monthly firm-level idiosyncratic volatility series for NYSE/AMEX listed firms in the period of 1926 - 1970 are constructed from daily CRSP stock data; voluntary disclosed accounting data from "Moody''s Manual of Investments 1934" are manually collected as a proxy of firms'' disclosure quality before the law. The comparisons of the firm-level idiosyncratic volatilities before and after the enactment of the Acts show systematic evidence indicating that the Acts significantly reduce idiosyncratic volatility. Moreover, the firms that disclose much less the key accounting information before the implementation of the Acts, have experienced more reductions in volatility and are thus more deeply affected by the Acts than others. In addition, these firms are associated with further reductions in bid-ask spreads and additional improvements in liquidity after the enactment of the Acts. My findings suggest that one of the mechanisms, through which the Acts affect the market, have been identified. The second study explores the governance structure of government in a regionally decentralized authoritarian regime. The organizational form of Chinese central-local government is characterized by regionally decentralized authoritarianism (RDA) (Xu (2011)). This system is a combination of political centralization and economic regional decentralization. Political centralization implies that subnational officials'' careers are determined by their superiors instead of constituencies; regional decentralization indicates that subnational governments are empowered to engage in regional development. At the early stage of economic reform, economic growth became the most important task. By utilizing yardstick competition reward based on economic performance, China''s central government is successful in incentivizing local government officials to promote economic growth. However, unlike private enterprises, which concentrate on maximizing profits, government agencies are bound to pursue multiple goals. The multitask nature of government has become increasingly prominent and has created serious problems in China. By extending the Holmstrom and Milgrom (1991) multitask principal-agent model to a multitask-multiagent model, I explain under which conditions yardstick competition would fail in motivating local officials, and show that the optimal linear contract designed under a RDA regime is not capable of solving problems generat
Government Governance And Welfare Reform
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Author : Alberto Brugnoli
language : en
Publisher: Edward Elgar Publishing
Release Date : 2012
Government Governance And Welfare Reform written by Alberto Brugnoli and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Political Science categories.
'Alberto Brugnoli and Alessandro Colombo have put together an important collection of essays on government and governance in Italy and Britain. This richly documented comparative study proposes to answer two key questions: how does the change from government to governance emerge, and what enables this transformation to survive and even to displace State-centric solutions to public policy issues? The book will be a milestone in highlighting the distinctive and original role of the principle of subsidiarity, in examining and assessing governance regimes, their philosophy and their organizational choices and in linking subsidiarity with the prospects of freedom, responsibility and self-governing societies in the modern world. I know of no other book that brings the principle of subsidiarity to the frontier of the most current research in social science.' – Filippo Sabetti, McGill University, Canada This unique and original book focuses on institutional changes, welfare reforms and transformations in both Britain and Italy over the last three decades. The book illustrates that although it was a widely held belief in both countries that the arena of social and economic governance would shift to the national level, to the surprise of many, a different trend has emerged. In otherwise very different national experiences, both Britain and Italy have seen the sub-national level of governance become crucial in redefining public services, and in designing, delivering, and monitoring key services. The expert contributors use a distinctive and original principle – subsidiarity – as a lens through which to examine and assess these governance regimes, their philosophies, and their organizational choices. Academics, researchers and students of social policy, public policy, public administration and regional studies will find this book to be a highly fascinating read. It will also provide a wealth of information for policymakers and think tanks.
From New Public Management To New Political Governance
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Author : Herman Bakvis
language : en
Publisher: McGill-Queen's Press - MQUP
Release Date : 2012-06-26
From New Public Management To New Political Governance written by Herman Bakvis and has been published by McGill-Queen's Press - MQUP this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-06-26 with Political Science categories.
With the direct participation of partisan political staff in governance, the onset of permanent election campaigns heavily dependent on negative advertising, and the expectation that the public service will not only merely implement but enthusiastically support the agenda of the elected government, we are experiencing a new form of political governance. The late Peter Aucoin (1943-2011) has argued that traditional norms of impartial loyalty have been displaced by partisanship on the part of civil servants and that the political executive is keen on directly controlling all aspects of communication and interaction between government and citizens. The arrival of "New Political Governance" has a direct bearing on the long-standing tension between the need of ensuring democratic control over bureaucracy, while also allowing the public service sufficient flexibility to exercise discretion, judgment, and professional expertise when implementing and managing programs. Through a series of essays using Aucoin's "New Political Governance" framework, leading scholars in the field address the manner in which this tension and its conflicts have played out over the past decade in different domains. Contributors examine themes including accountability, democracy, public management and reform, the paradoxes of electoral democracy, and the dilemmas of democratic governance. Contributors include: Mark Jarvis (University of Victoria), Herman Bakvis (University of Victoria), B. Guy Peters (University of Pittsburg), Donald Savoie (Université de Moncton), Allan Tupper (University of British Columbia), Lori Turnbull (Dalhousie), David E. Smith (University of Saskatchewan), C.E.S. Franks (Queen's), R. Kenneth Carty (University of British Columbia), Lisa Young (University of Calgary), Jennifer Smith (Dalhousie), Gerald Baier (University of British Columbia), Fred Fletcher (York University), André Blais (Université de Montréal), Evert Lindquist (University of Victoria), Ken Rasmussen (University of Regina), Jonathan Boston (Victoria University), John Halligan (University of Canberra), Grace Skogstad (University of Toronto), Jenn Wallner (University of Ottawa), Cosmo Howard (University of Victoria), Susan Phillips (Carleton University), Paul Thomas (University of Manitoba), Ralph Heintzman (University of Ottawa), Luc Juillet (University of Ottawa), G. Bruce Doern (Carleton), Kenneth Kernaghan (Brock).
Decentralisation And Local Governance
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Author : L. C. Jain
language : en
Publisher: Orient Blackswan
Release Date : 2005
Decentralisation And Local Governance written by L. C. Jain and has been published by Orient Blackswan this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Political Science categories.
This is a collection of 20 essays, dedicated to Dr George Mathew, by eminent scholars and academics on decentralised governance and its importance in a globalising world. Based on emperical studies and paradigms of developed and developing countries, it has an overarching focus on India s panchayati raj institutions. The Seventy third constitution Amendment Act of 1992, by making PRIs mandatory, was a historic move towards deepening democracy and advancing development through decentralisation. Decentralisation programmes in other countries (e.g S.Africa and Pakistan ) are also reviewed. The book offers a comprehensive account of development and governance at the grassroots through a broad canvas of multiperspective and interdisciplinary presentations.
Local Governance In Developing Countries
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Author : Anwar Shah
language : en
Publisher: World Bank Publications
Release Date : 2006
Local Governance In Developing Countries written by Anwar Shah and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.
Br> Local Governance in Developing Countries by Shah, Anwar Terms of use Shah brings together 12 essays that examine the role of local governments in developing countries, as well as a comparative institutional framework for governance. In addition, the essays follow the history of local governance, discuss alternative models, and offer case studies of 10 countries--South Africa, Uganda, China, India, Indonesia, Kazakhstan, Poland, Argentina, Brazil, and Chile--specifically looking at their organization and finance. These include country briefs prepared for World Bank Institute learning programs by authors from around the world. The volume aims to "advance the World Bank Institute agenda on knowledge sharing and learning from cross-country experiences in reforming public governance" and is meant for public officials, development practitioners, and students, and to strengthen governments and improve social outcomes. Annotation ©2006 Book News, Inc., Portland, OR (booknews.com) Descriptive content provided by Syndetics"! a Bowker service.
Governance Without Government
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Author : James N. Rosenau
language : en
Publisher: Cambridge University Press
Release Date : 1992-03-26
Governance Without Government written by James N. Rosenau and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-03-26 with Law categories.
A world government capable of controlling nation-states has never evolved, but governance does underlie order among states and gives direction to problems arising from global interdependence. This book examines the ideological bases and behavioural patterns of this governance without government.
Unintended Consequences Of Public Policy And Government Regulation On Supply Chain Structure Conduct And Performance
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Author : Jonathan Phares
language : en
Publisher:
Release Date : 2021
Unintended Consequences Of Public Policy And Government Regulation On Supply Chain Structure Conduct And Performance written by Jonathan Phares and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
Supply chains, and the firms within them, change their behaviors in response to industry conditions so they can provide efficiency, effectiveness, strategic enablement, and customer utility. Social and economic policies enacted to promote social welfare by correcting market failures can alter these conditions. While these policies may serve their intended purposes, they may also create unintended consequences that may make managing logistics, operations, and supply chains more challenging. This dissertation contributes to the nascent body of knowledge concerning the intended and unintended consequences of policy on supply chain management by examining three unique contextual settings using different methodologies and levels of analysis. In the first essay, I examine the impacts of relationship-focused regulations on supply chain collaboration. Using a grounded theory approach, I theorize new barriers to collaboration unique to this regulatory context using data from multiple interviews with executives from suppliers and distributors in the beer industry supply chain. I find that regulations meant to promote social welfare by constraining the flow of alcohol to consumer also constrain choice in supply chain relationships that negatively affect supply chain collaboration. In the second essay, I examine how capacity-limiting structural regulation in healthcare, specifically certificate of need (CON) laws, interacts with case complexity to affect hospital operational performance. Using a hybrid estimation approach to analyze a unique data set collected from multiple sources, I tested a conceptual model developed using the structure-conduct-performance (SCP) framework and the complex adaptive systems (CAS) perspective. I find that indicate that CON does reduce costs but also worsens quality. I also find that these relationships are intensified by case complexity. In the third essay, I examine whether nuclear verdicts over $10 million resulting from harm caused by large truck crashes result in improved industry-level motor carrier safety performance. Drawing on institutional theory to hypothesize the effects of nuclear verdicts on safety performance and insurance spending. I test these hypotheses using autoregressive distributed lag time series econometric models. I find that nuclear verdicts may result in improvements in industry safety but may also result in increased insurance spending. Collectively, these essays demonstrate multiple perspectives of how policies can affect supply chain behaviors and performance at the individual-, firm-, and industry-level that may be undesirable or unexpected. Findings from these essays offer important insights for researchers, practitioners, and policymakers.
An Essay On The First Principles Of Government
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Author : Priestley
language : en
Publisher:
Release Date : 1771
An Essay On The First Principles Of Government written by Priestley and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1771 with categories.
Oecd Reviews Of Regulatory Reform Risk And Regulatory Policy Improving The Governance Of Risk
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2010-05-06
Oecd Reviews Of Regulatory Reform Risk And Regulatory Policy Improving The Governance Of Risk written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-05-06 with categories.
This publication presents recent OECD papers on risk and regulatory policy. They offer measures for developing, or improving, coherent risk governance policies.