The effect of grassland transfer on herders' livestock production and grazing intensity in Inner Mongolia and Gansu, China

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Xiaolong Feng ◽  
Jianjun Tang ◽  
Huanguang Qiu
Keyword(s):  
Quantile Regression ◽  
Selection Bias ◽  
Inner Mongolia ◽  
Grazing Intensity ◽  
Livestock Production ◽  
Impact Mechanism ◽  
Content Type ◽  
Self Selection ◽  
Heterogeneous Effects ◽  
The Impact

Purpose The purpose of this study is to understand the impact mechanism of grassland transfer on herders' production behaviour in pastoral areas. The impact of grassland transfer on herders' livestock production and grazing intensity is quantified.Design/methodology/approach Using the survey data collected for 356 herder households from Inner Mongolia and Gansu, China, quantile regression is employed to assess the heterogeneous effects of grassland transfer on livestock production and grazing intensity. To correct the potential self-selection bias of grassland transfer, the propensity score matching technique is used.Findings Results show that labour, percentage of livestock income and livestock stock are the main factors affecting herders' choice to transfer grassland. The positive effect of grassland transfer on livestock numbers on behalf of those who rented additional grassland is statistically significant but declines with livestock numbers. The sustainability-enhancing effect of grassland transfer on grazing intensity is significant, and the effect becomes larger amongst herder households with higher grazing intensity. The analysis on the impact mechanism shows that grassland transfer significantly promotes the adoption of sustainable grazing modes, such as rotational and seasonal rest grazing, which in turn increases herders' livestock numbers and decreases grazing intensity.Originality/value Few studies have empirically analysed the influence of grassland transfer on livestock numbers and grazing intensity. This study fills this gap by employing a quantile regression to assess the heterogeneous effects of grassland transfer on livestock numbers and grazing intensity, while accounting for self-selection bias. In addition, the authors have examined the influencing mechanisms under which grassland transfer impacts on livestock numbers and grazing intensity.

Women on the board of directors and corporate tax aggressiveness in Australia

2016 ◽  
Vol 29 (3) ◽  
pp. 313-331 ◽  
Author(s):  
Grant Richardson ◽  
Grantley Taylor ◽  
Roman Lanis
Keyword(s):  
Board Of Directors ◽  
Selection Bias ◽  
Tax Avoidance ◽  
Multivariate Regression Analysis ◽  
Corporate Tax ◽  
Content Type ◽  
Tax Aggressiveness ◽  
Self Selection ◽  
The Board Of Directors ◽  
The Impact

Purpose This paper aims to investigate the impact of women on the board of directors on corporate tax avoidance in Australia. Design/methodology/approach The authors use multivariate regression analysis to test the association between the presence of female directors on the board and tax aggressiveness. They also test for self-selection bias in the regression model by using the two-stage Heckman procedure. Findings This paper finds that relative to there being one female board member, high (i.e. greater than one member) female presence on the board of directors reduces the likelihood of tax aggressiveness. The results are robust after controlling for self-selection bias and using several alternative measures of tax aggressiveness. Research limitations/implications This study extends the extant literature on corporate governance and tax aggressiveness. This study is subject to several caveats. First, the sample is restricted to publicly listed Australian firms. Second, this study only examines the issue of women on the board of directors and tax aggressiveness in the context of Australia. Practical implications This research is timely, as there has been increased pressure by government bodies in Australia and globally to develop policies to increase female representation on the board of directors. Originality/value This study is the first to provide empirical evidence concerning the association between the presence of women on the board of directors and tax aggressiveness.

A quantile regression approach to evaluate the relative impact of global and local factors on the MENA stock markets

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Slah Bahloul ◽  
Nawel Ben Amor
Keyword(s):  
Stock Market ◽  
Quantile Regression ◽  
Stock Returns ◽  
Stock Markets ◽  
Financial Integration ◽  
Ordinary Least Squares ◽  
Market Returns ◽  
Stock Market Returns ◽  
Content Type ◽  
The Impact

PurposeThis paper investigates the relative importance of local macroeconomic and global factors in the explanation of twelve MENA (Middle East and North Africa) stock market returns across the different quantiles in order to determine their degree of international financial integration.Design/methodology/approachThe authors use both ordinary least squares and quantile regressions from January 2007 to January 2018. Quantile regression permits to know how the effects of explanatory variables vary across the different states of the market.FindingsThe results of this paper indicate that the impact of local macroeconomic and global factors differs across the quantiles and markets. Generally, there are wide ranges in degree of international integration and most of MENA stock markets appear to be weakly integrated. This reveals that the portfolio diversification within the stock markets in this region is still beneficial.Originality/valueThis paper is original for two reasons. First, it emphasizes, over a fairly long period, the impact of a large number of macroeconomic and global variables on the MENA stock market returns. Second, it examines if the relative effects of these factors on MENA stock returns vary or not across the market states and MENA countries.

scholarly journals Determinants of household income of micro-finance women participants: a quantile regression approach

2020 ◽  
Vol 1 (1) ◽  
pp. 63-74
Author(s):  
Jarita Duasa ◽  
Nur Hidayah Zainal
Keyword(s):  
Quantile Regression ◽  
Capita Income ◽  
Per Capita Income ◽  
Content Type ◽  
Income Distributions ◽  
Asset Value ◽  
Regression Approach ◽  
Convenience Sampling ◽  
Per Capita ◽  
The Impact

Purpose The purpose of this study is to adopt quantile regression to investigate the impact of several factors on per capita income of participants of micro-financing scheme (Amanah Ikhtiar Malaysia [AIM]), who are mostly women at different point on the income distributions. Design/methodology/approach This study uses data collected from a survey on respondents who are the participants of AIM program using convenience sampling in Perak and Kelantan. Findings The empirical results show that the value of asset, value of loan, household size, ratio of spending to income and dummy state are consistently giving similar impacts on per capita income of participants at different quantiles. Originality/value However, age negatively and significantly affects per capita income only at middle and lower quantiles but not at higher quantile of per capita income.

Herding behavior in Islamic GCC stock market: a daily analysis

2018 ◽  
Vol 11 (2) ◽  
pp. 182-193 ◽  
Author(s):  
Mustapha Chaffai ◽  
Imed Medhioub
Keyword(s):  
Stock Market ◽  
Quantile Regression ◽  
Financial Markets ◽  
Stock Returns ◽  
Stock Markets ◽  
Content Type ◽  
Quantile Regression Analysis ◽  
Herd Behaviour ◽  
The Impact ◽  
Quantile Regression Method

Purpose This paper aims to examine the presence of herd behaviour in the Islamic Gulf Cooperation Council (GCC) stock markets following the methodology given by Chiang and Zheng (2010). Generalized auto regressive conditional heteroskedasticity (GARCH)-type models and quantile regression analysis are used and applied to daily data ranging from 3 January 2010 to 28 July 2016. Results show evidence of herd behaviour in the GCC stock markets. When the data are divided into down and up market periods, herd information is found to be statistically significant and negative during upward market periods only. These results are similar to those reported in some emerging markets such as China, Japan and Hong Kong, where stock returns perform more similarly during down market periods and differently during rising markets. Design/methodology/approach The authors present a brief literature on herd behaviour. Second, the authors provide some specificity of the GCC Islamic stock market, followed by the presentation of the methodology and the data, results and their interpretation. Findings The authors take into account the difference existing in market conditions and find evidence of herding behaviour during rising markets only for GCC markets. This result was confirmed after using the quantile regression method, as evidence of herding was observed only in highly extreme periods. Stock returns perform more similarly when market is down in Islamic GCC stock market. Research limitations/implications The research limitation consists in the fact that this work can be extended to compare the GCC stock markets with other markets in Asia such as Malaysia and Indonesia. Practical implications The principal implication consists in the fact that herding behaviour is limited in the GCC markets and Islamic finance can have an important contribution to moderate the behaviour in the financial markets. Social implications The work focusses on the role of ethics in the financial markets and their ability to reduce the impact of behavioural biases. Originality/value The paper studies the behaviour of investors in the Islamic financial markets and gives an idea about the importance of the behaviour in this particular market regarding its characteristics.

scholarly journals Spanish non-financial corporations and the COVID pandemic: vulnerability, resilience and transformation

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Vicente Salas-Fumás
Keyword(s):  
Value Added ◽  
Probit Model ◽  
Labor Cost ◽  
Organizational Capital ◽  
Corporate Sector ◽  
Economic Sectors ◽  
Content Type ◽  
Country Level ◽  
Heterogeneous Effects ◽  
The Impact

Purpose This paper aims to assess the vulnerability and resilience of the Spanish non-financial corporations (NFC) to the shock from the COVID pandemic with consolidated income accounts data, and shows comparative labor productivity and endowment of organizational capital of Spanish firms, as indicators of their capabilities at the outset of the new digital transformation wave proposed by the next generation EU program. Design/methodology/approach The paper first describes the recent evolution (quarterly 2020 data) of the Spanish non-financial corporate sector (gross value added, labor cost, capital formation, profits) in the assessment of the vulnerability and resilience of the sector to the shock of the COVID pandemic. Then second, it estimates a probit model to evaluate the EU country effects in the explanation of the different propensity firms in the European Company Survey database to adopt innovative management and organization practices. Findings In the Spring of 2020, the Spanish NFC were still recovering from the great recession (low resilience), and the severe contraction in value-added and profits of the corporate sector in the first three quarters of the year evidences its high vulnerability. The proved complementarity between organizational and information related assets implies that the low endowment of organizational capital of Spanish firms, could be a severe limitation for the advancement toward digitalization. Research limitations/implications The aggregate corporate sector data used in the analysis of vulnerability and resilience of Spanish firms does not account for the heterogeneous effects of the pandemic across economic sectors (manufacturing and services, for example) and across firms (large versus small ones). Originality/value The paper complements the country-level analysis of the impact of the COVID pandemic in the Spanish economy with the analysis of the impact of the pandemic in the performance of the corporate sector. It provides one of the first analysis of the current endowment of organization capital of Spanish firms and highlights its relevance for productivity growth.

scholarly journals Spatial Variation and Factors Impacting Grassland Circulation Price in Inner Mongolia, China

2018 ◽  
Vol 10 (12) ◽  
pp. 4381 ◽  
Author(s):  
Jing Zhang ◽  
Colin Brown
Keyword(s):  
Quantile Regression ◽  
Spatial Autocorrelation ◽  
Inner Mongolia ◽  
Local Market ◽  
High Demand ◽  
Grazing Land ◽  
Regression Methods ◽  
Price Distribution ◽  
Quantile Regression Analysis ◽  
The Impact

As the circulation of grassland use rights in China increases, relatively little is known about the factors that influence circulation price. This paper examines the spatial distribution of grassland circulation prices and the impact of various attributes on grassland circulation prices in Inner Mongolia Autonomous Region (IMAR). Spatial autocorrelation tests and quantile regression methods are applied to data from an online land-circulation website covering the period from January to October 2017. The spatial analysis found that grassland circulation price does vary greatly throughout IMAR but that no significant spatial autocorrelation is evident. The quantile regression analysis revealed significant, though varied, quantile effects across the price distribution indicating that local market structures, strong demand for grazing land in desert steppe, high demand of poor herders for smaller plots, and high demand of richer herders for larger plots all play an important role in determining circulation prices. These nuanced findings should enable policy makers, grassland users, and other grassland actors to better understand how grassland price is determined with respect to a range of factors across the quantiles of price as well as the spatial pattern of price characteristics. This information and understanding are a crucial step in improving grassland circulation.

Voluntary hedging disclosure and corporate governance

2019 ◽  
Vol 19 (1) ◽  
pp. 5-29
Author(s):  
Seth A. Hoelscher
Keyword(s):  
Corporate Governance ◽  
Selection Bias ◽  
Voluntary Disclosure ◽  
Oil And Gas ◽  
Content Type ◽  
Self Selection ◽  
Step Model ◽  
Position Data ◽  
Public Disclosures ◽  
Oil And Gas Firms

Purpose This paper aims to investigate the implications of governance quality on a firm’s information environment in the context of voluntary changes in hedging disclosures made by oil and gas companies. Design/methodology/approach The research utilizes a Factiva-guided search to hand-collect public disclosures related to changes in hedging policies along with the hand collection of financial derivatives positions and operational hedging contracts data using 10-K filings. The paper addresses self-selection bias, which typically plagues voluntary disclosure studies, by implementing a Heckman (1979) two-step model to estimate the decision process, make changes in their hedge program and, conditional on making changes to their hedging activities, provide disclosure. Findings Oil and gas firms with relatively poor governance are more likely to voluntarily disclose hedging changes and do so more frequently (substitution hypothesis). There is evidence that poorly governed firms in the presence of large shareholders (i.e. high institutional ownership) are more likely to provide transparency of hedging policy changes. Originality/value This is the first study to combine hand-collected changes in hedging voluntary disclosures and hand-collected derivative position data to investigate the interaction of corporate governance and voluntary disclosure. The sample allows for analysis between three sub-samples: companies that do not make changes in hedging and do not hedge, firms that make changes in their hedging policies but do not disclose the changes during a given year and companies that change their hedging activities and provide voluntary disclosure. This unique setting helps to alleviate concerns of self-selection bias associated with voluntary disclosure.

The impact of cooperative participation on income: the case of vegetable production in Vietnam

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Giang Thi Huong Tran ◽  
Teruaki Nanseki ◽  
Yosuke Chomei ◽  
Ly Thi Nguyen
Keyword(s):  
Selection Bias ◽  
Household Head ◽  
Primary Data ◽  
Agricultural Cooperatives ◽  
Vegetable Production ◽  
Service Access ◽  
Content Type ◽  
Positive Effects ◽  
Vegetable Farmers ◽  
The Impact

PurposeThe demand for clean vegetables has rapidly increased, many farmers gradually turn to vegetable cultivation to increase income; therefore, agricultural cooperative mobilized farmers group to facilitate them access to technical training and enhance compliance with the Vietnamese Good Agricultural Practices (VietGAP) standards. The purpose of this paper is to evaluate the impacts of the participation on farmer’s income as well as the major factors that affect the participation in cooperatives by the vegetable farmers in Vietnam.Design/methodology/approachThe study used primary data collected from vegetable farmers in Vietnam. This study utilized propensity score matching to avoid initial selection bias. The differences between participants and nonparticipants will be adjusted by matching each membership individual to a nonmember based on similar observable characteristics by summarizing the conditional probability of a member given pretreatment characteristics.FindingsThis study demonstrates that participation in cooperatives is significantly affected by ethnicity, age of household head, labor involving vegetable production and extension service access. The results of this study also confirm that agricultural cooperatives have positive effects on member farmers to enhance income and that participants – on average – have a higher income than nonparticipants.Research limitations/implicationsThe method cannot rule out the possibility of selection bias due to unobserved differences between participants and even an appropriate comparison group.Originality/valueThis study contributes to an improved understanding about impacts of cooperatives on farmers’ income in developing and emerging economies. Moreover, research also upgrades knowledge regarding the effectiveness of agricultural cooperatives in Vietnam, as well as guides policymakers in supporting the cooperatives in expanding the market and other necessary changes.

scholarly journals Does certified food production reduce agrochemical use in China?

2018 ◽  
Vol 10 (3) ◽  
pp. 386-405 ◽  
Author(s):  
Zihan Nie ◽  
Nico Heerink ◽  
Qin Tu ◽  
Shuqin Jin
Keyword(s):  
Food Production ◽  
Chemical Fertilizer ◽  
Set Covering ◽  
Negative Effects ◽  
Data Set ◽  
Content Type ◽  
Household Level ◽  
Heterogeneous Effects ◽  
Environmental Goals ◽  
The Impact

Purpose The purpose of this paper is to examine the effect of adopting certified food production on chemical fertilizer and pesticide use in China. Design/methodology/approach The authors estimate fixed effect models to track the changes in agrochemical consumption at household level over time and evaluate the effect of certified food production, using an unbalanced panel data set covering 4,830 households in six provinces over the period 2005–2013. Findings On average, the authors do not find significant effects of certified food production on either chemical fertilizer or pesticide consumption among Chinese farmers. The effects are heterogeneous across villages, but the heterogeneous effects show no clear pattern that is consistent with different types of certification. The findings are robust to the use of alternative panel structure and certification indicators. The lack of knowledge about certification among farmers, the price premium and differences in regulation enforcement across regions may explain why the authors do not find negative effects on agrochemical use. Practical implications This study suggests that careful inspections and strong enforcement of certified food production is needed to ensure that the environmental goals of certified food production can be achieved and the reputation of certification in China can be improved. The inspection of certification producers and the enforcement of current regulations should be stricter for the further healthy development of certified food production in China. Originality/value This study is the first attempt to systematically evaluate the impact of food certification on the use of agrochemicals in Chinese agriculture.

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