Other Economics Commons^™

How Corporate Governance Is Made: The Case Of The Golden Leash, Matthew D. Cain, Jill E. Fisch, Sean J. Griffith, Steven Davidoff Solomon

Steven Davidoff Solomon

This Article presents a case study of a corporate governance innovation—the incentive compensation arrangement for activist-nominated director candidates colloquially known as the “golden leash.” Golden leash compensation arrangements are a potentially valuable tool for activist shareholders in election contests. In response to their use, several issuers adopted bylaw provisions banning incentive compensation arrangements. Investors, in turn, viewed director adoption of golden leash bylaws as problematic and successfully pressured issuers to repeal them. The study demonstrates how corporate governance provisions are developed and deployed, the sequential response of issuers and investors, and the central role played by governance intermediaries—activist investors, institutional …

Sources Of Gender Difference In Rural To Urban Migration In Kenya: Does Human Capital Matter?, Richard U. Agesa, Jacqueline Agesa

Jacqueline Agesa

Using data from Kenya this article estimates the urban to rural gender gap in the rate of migration and then decomposes the gap into the explained portion and the portion due to gender differences in coefficients. The former is further decomposed to unveil the relative influence of each explanatory variable on the explained portion of the gender gap in the rate of migration. A non-trivial finding suggests that human capital variables may exert the strongest influence on gender differences in migration, partially explaining the higher incidence of male migration.

Sources Of Gender Difference In Rural To Urban Migration In Kenya: Does Human Capital Matter?, Richard U. Agesa, Jacqueline Agesa

Jacqueline Agesa

Using data from Kenya this article estimates the urban to rural gender gap in the rate of migration and then decomposes the gap into the explained portion and the portion due to gender differences in coefficients. The former is further decomposed to unveil the relative influence of each explanatory variable on the explained portion of the gender gap in the rate of migration. A non-trivial finding suggests that human capital variables may exert the strongest influence on gender differences in migration, partially explaining the higher incidence of male migration.

Group-Average Observables As Controls For Sorting On Unobservables When Estimating Group Treatment Effects: The Case Of School And Neighborhood Effects, Joseph G. Altonji, Richard K. Mansfield

Rick Mansfield

We consider the classic problem of estimating group treatment effects when individuals sort based on observed and unobserved characteristics. Using a standard choice model, we show that controlling for group averages of observed individual characteristics potentially absorbs all the across-group variation in unobservable individual characteristics. We use this insight to bound the treatment effect variance of school systems and associated neighborhoods for various outcomes. Across four datasets, our conservative estimates indicate that a 90th versus 10th percentile school system increases high school graduation and college enrollment probabilities by at least 0.047 and 0.11. Other applications include measurement of teacher value-added.

Beach And Surf Tourism And Recreation In Australia: Vulnerability And Adaptation, Michael Raybould, David Anning, Dan Ware, Neil Lazarow

Michael Raybould

No abstract provided.

Beach, Sun And Surf Tourism, Neil Lazarow, Michael Raybould, David Anning

Michael Raybould

Beaches are arguably the most valuable of coastal tourism assets. Around beaches, communities develop and tourism markets expand, often resulting in intimate human interaction with diverse environments. This chapter provides an overview of economic research on beach and surf recreation and tourism in existing and expanding markets, including a description of the techniques most commonly used to estimate the economic impact and value of beach recreation and some of the challenges around developing accurate estimates of use and value. Better understanding of the drivers and values for beach and surf tourism is an important consideration for optimal management of coastal …

Beaches As Societal Assets: Council Expenditure, Recreational Returns, And Climate Change, Boyd Blackwell, Michael Raybould, Neil Lazarow

Michael Raybould

Drawing on expenditure and survey data from the Gold and Sunshine Coasts in Queensland, Australia, this chapter compares expenditures on beaches relative to their recreational benefits. Beaches are found to be exceptional investments. The comparison of the two councils also provides insights into their relative capacity to adapt to the adverse impacts of climate change. The Gold Coast can rely to some extent on historical large investments in infrastructure to defend itself against change. In contrast, the Sunshine Coast has more options which may lower the cost of adaptation e.g., it can rely more heavily on retreating from change in …

Behavioural Responses To Beach Erosion And Climate Change, David Anning, Michael Raybould, Dan Ware, Neil Lazarow

Michael Raybould

No abstract provided.

Is A Wide Beach More Valuable? -The Impact Of The Tweed River Entrance Sand Bypass Project On Nearby Property, Dan Ware, David Anning, Michael Raybould, Neil Lazarow, Rodger Tomlinson

Michael Raybould

No abstract provided.

Valuing Beach And Surf Tourism And Recreation In Australian Sea Change Communities, David Anning, Dan Ware, Michael Raybould, Neil Lazarow

Michael Raybould

Many of Australia’s iconic sandy beaches are already under pressure due to coastal development and the impacts of severe storm or flood events. These impacts are likely to be exacerbated by projected climate changes such as elevated water levels and potentially increased storm intensity. Beaches provide important recreation services for both residents and tourists but few studies in Australia have attempted to place economic values on this service. Thus, coastal authorities that are forced to make investment decisions relating to beach protection and restoration have insufficient data to conduct cost-benefit evaluations of projects where recreation values are significant. This paper …

Estimating Consumer Surplus Values For Beach Recreation In Australia Using Travel Cost Methods, Michael Raybould, David Anning, Dan Ware, Neil Lazarow

Michael Raybould

No abstract provided.

The Power Of Stereotyping And Confirmation Bias To Overwhelm Accurate Assessment: The Case Of Economics, Gender, And Risk Aversion, Julie A. Nelson

Julie A. Nelson

Behavioral research has revealed how normal human cognitive processes can tend to lead us astray. But do these affect economic researchers, ourselves? This article explores the consequences of stereotyping and confirmation bias using a sample of published articles from the economics literature on gender and risk aversion. The results demonstrate that the supposedly “robust” claim that “women are more risk averse than men” is far less empirically supported than has been claimed. The questions of how these cognitive biases arise and why they have such power are discussed, and methodological practices that may help to attenuate these biases are outlined.

Economic Outlook 2010: Innovation, Connie I. Reimers-Hild

Connie I Reimers-Hild, PhD, CPC

This article discusses the importance of innovation to individuals and the overall economy.

Poisoning The Well, Or How Economic Theory Damages, Julie A. Nelson

Julie A. Nelson

Contemporary mainstream economics has widely “poisoned the well” from which people get their ideas about the relationship between economics and ethics. The image of economic life as inherently characterized by self-interest, utility- and profitmaximization, and mechanical controllability has caused many businesspeople, judges, sociologists, philosophers, policymakers, critics of economics, and the public at large to come to tolerate greed and opportunism, or even to expect or encourage them. This essay raises and discusses a number of counterarguments that might be made to the charge that current dominant professional practice is having negative ethical effects, as well as discussing some examples of …

Porous Capsule Irrigation, David A. Bainbridge

David A Bainbridge

Porous capsule irrigation is a modern adaptation of buried clay pot irrigation. Research in Brazil and Mexico has demonstrated its value in improving water use efficiency. Porous capsules are more easily integrated in an irrigation network than buried clay pots.

Factors Effecting Job Satisfaction Of Employees In Pakistani Banking Sector, Ahmed Imran Hunjra, Muhammad Irfan Chani, Sher Aslam, Muhammad Azam, Kashif -Ur- Rehman

Muhammad Irfan Chani

Ceo Compensation At Tarp Institutions, Karl T. Muth

Karl T Muth

This is a PowerPoint presentation given at the University of Chicago Booth School of Business on March 10, 2010. It requires the newest version of Microsoft PowerPoint.

Juridische Kaders In De Sociale Economie: Een Rechtseconomische Doorlichting, Astrid Coates, Wim Van Opstal

Wim Van Opstal

De sociale economie hanteert in ons land hoofdzakelijk het vzw-statuut en bestaat traditioneel ook uit (erkende) coöperatieve vennootschappen. In 1995 werd hier ook de vennootschap met sociaal oogmerk aan toegevoegd. In dit artikel bespreken we enkele randvoorwaarden voor een geslaagd ontwerp en een succesvolle implementatie van juridische kaders voor de sociale economie. Vervolgens bespreken we bondig de essentiële kenmerken van deze drie juridische kaders. We besluiten met een vergelijkende analyse en belichten daarbij de belangrijkste relatieve troeven en zwaktes ten opzichte van elkaar.

Employee Voice And Intent To Leave: An Empirical Evidence Of Pakistani Banking Sector, Ahmed Imran Hunjra, Muhammad Asghar Ali, Muhammad Irfan Chani, Hashim Khan, Kashif Ur Rehman

Muhammad Irfan Chani

Alleviating Global Poverty Through Profitable Partnerships: Moral Imagination & Economic Well-Being, Laura Hartman, P. Werhane, D. Moberg, S. Kelley

Laura Hartman

While at least one out of six in the global human population cannot meet the basic demands of survival and they have little ability to buy goods and services, this situation also presents potential new markets for multinational enterprises seeking long-term sustainability. If economic growth is a continuing and positive goal for the planet and for global companies, then, as markets in developed economies become saturated, these new markets provide fresh opportunities to satisfy this objective.

Some Economic Issues In Indian Textile Sector, Badri Narayanan G.

Badri Narayanan G.

No abstract provided.

Burnout And Perceived Organisational Support Among Frontline Hospitality Employees, Gabrielle Walters, Michael Raybould

Michael Raybould

This article describes research designed to investigate the relationship between burnout and perceived organisational support (POS) among front-line hospitality employees. Three hundred front-line employees of a multisite hospitality firm were surveyed using an instrument comprising the general survey version of the Maslach Burnout Inventory and the 17-item version of the Survey of Perceived Organisational Support (POS). Significant relationships were found between POS and each of the three burnout dimensions of exhaustion, cynicism and personal efficacy. The findings of this study contribute to the existing academic literature and provide hospitality managers with a better understanding of the factors that contribute to …

Generic Skills For Hospitality Management: A Comparative Study Of Management Expectations And Student Perceptions, Michael Raybould, Hugh Wilkins

Michael Raybould

Tertiary providers of hospitality management degree programs must fulfil the needs of student, industry and academic stakeholder groups. The students attracted to this type of program tend to be motivated primarily by the anticipated vocational outcomes. As a result, hospitality management curriculum needs to meet both industry and student expectations by delivering the skill sets needed in the workplace and the institutional demands for academic rigour. This article reports on research that aimed to compare hospitality managers' expectations of graduate skills with student perceptions of the skills that hospitality managers valued. In contrast to previous research on this topic, this …

Triple Bottom Line Event Evaluation: A Proposed Framework For Holistic Event Evaluation, Liz Fredline, Michael Raybould, Leo Jago, Marg Deery

Michael Raybould

Although there has long been an interest in measuring the economic impacts of events, it is only relatively recently that concern about the sustainability of event tourism has driven an imperative to develop methods for evaluating and monitoring other sorts of impacts including social and environmental. This trend mirrors moves in general tourism and business more broadly where discussion about triple bottom line reporting underpins a move for enterprises to be accountable to stakeholders, not only in regard to the economic bottom line, but also with regard to their “footprint” on the environment and on society more broadly. There is …

Over Qualified And Under Experienced – Turning Graduates Into Hospitality Managers, Michael Raybould, Hugh Wilkins

Michael Raybould

Purpose – This paper sets out to report on research that investigated hospitality managers' expectations of graduate skills and compared those expectations with student perceptions of what hospitality managers value. Design/methodology/approach – The research adopted a generic skills framework and data were collected through a sample survey of 850 Australian hospitality managers and 211 undergraduate hospitality management students. Findings – Managers rated skills associated with interpersonal, problem solving, and self-management skill domains as most important while students appeared to have realistic perceptions of the skills that managers value when recruiting hospitality graduates. The most substantial areas of disagreement came in …