Partial privatization, lending relationships and executive compensation

2016 ◽  
Vol 5 (1) ◽  
pp. 125-153 ◽  
Author(s):  
Saibal Ghosh
Keyword(s):  
Executive Compensation ◽  
Proportional Hazard ◽  
Partial Privatization ◽  
Political Factors ◽  
Early Date ◽  
Content Type ◽  
Lending Relationships ◽  
Country Level ◽  
Indian State ◽  
The Government

Purpose – Privatization has been a widely researched topic in the literature, both at the cross-country level as well as at the level of individual countries. However, the issue of partial privatization – where an entity is publicly listed although the government remains the controlling owner – has not been adequately discussed in the literature. The purpose of this paper is to employ data on Indian state-owned banks during 1992-2010 to explore the timing and intensity of privatization. Contextually, the authors also explore several associated hypotheses, such as the behavior of lending relationships by these banks and executive compensation. Design/methodology/approach – Given the hypotheses being discussed, the authors use suitable methodology relevant to the hypothesis. Accordingly, the authors employ proportional hazard models to address the timing issue and the Tobit model to determine the factors impacting the intensity of privatization. As regards lending relationships, the authors employ ordered logit and Poisson regression models. Finally, the issue of executive compensation is addressed using OLS regression. Findings – The evidence appears to suggest that smaller, riskier banks with higher levels of over-staffing are likely to be privatized at an early date. Among the political factors, the findings suggest that both the timing of elections as well as the fragmentation of the coalition impacts the timing of privatization. Regarding lending relationships, the analysis indicates that it is typically the large banks that act as the main bank for both foreign and state-owned firms. Finally, the evidence lends credence to the fact that bigger well-capitalized banks with smaller boards pay higher compensation. Originality/value – How far do economic and political factors play a role in impacting the timing of partial privatization of state-owned banks remains an open empirical question. There is also admittedly limited evidence as to how bank-specific and political factors influence the intensity of privatization. Judged thus, to the best of the knowledge, this is one of the few studies to examine these issues within a coherent empirical framework for a leading emerging economy.

India may not meet 2030 electric mobility target

2017 ◽  
Keyword(s):  
Air Pollution ◽  
Energy Efficiency ◽  
Electric Vehicles ◽  
Oecd Countries ◽  
Electric Mobility ◽  
Content Type ◽  
Indian State ◽  
Winning Bidder ◽  
Vehicle Fleet ◽  
The Government

Subject India's plans to electrify its vehicle fleet. Significance On October 4, the Indian state-run agency Energy Efficiency Services said it would add Mahindra and Mahindra to Tata Motors as the winning bidder of a tender to supply it with 10,000 electric vehicles (EVs). The government is making the purchases to kick-start a plan envisioning that only EVs would be sold in India by 2030. This would exceed OECD countries by at least a decade, although India faces significant challenges in creating the infrastructure to support such an ambitious target. Impacts If coal is used to electrify the vehicle fleet, India’s EV plans may conflict with its Paris climate accord obligations. There may be an increase in local regulations for curbing air pollution and limiting the sale of petrol and diesel cars. India may step up plans to electrify the railways.

scholarly journals Pakistan: making a “COVID budget” in a struggling economy

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Marium Ashfaq ◽  
Mohsin Bashir
Keyword(s):  
Fiscal Policy ◽  
Government Expenditure ◽  
Fiscal Year ◽  
Religious Groups ◽  
Political Factors ◽  
Content Type ◽  
Policy Responses ◽  
Policy Measures ◽  
The Government ◽  
The Military

PurposeThe purpose of this study is to examine the fiscal measures undertaken by the Pakistani government to counter the recessionary pressures of the coronavirus pandemic. The authors analyse the economic, social and political factors that have shaped the government's fiscal policy response to this economic shock.Design/methodology/approachThe authors analyse the federal and provincial budget documents for the fiscal year 2020–21 to study the fiscal response of the government. The authors review recent research articles and news pieces to examine the determinants of these budgetary measures.FindingsThe government adopted expansionary fiscal policy measures such as reduced taxation and increased government expenditure to counter the recessionary pressures of the pandemic. These measures, however, were largely constrained by macroeconomic issues of high fiscal debt, slow economic growth and low fiscal space and political influences from the military and religious groups.Research limitations/implicationsThe coronavirus pandemic is an ongoing issue which may pose more threats and elicit more policy responses as it evolves. This research may be extended as the pandemic progresses, to include further policy responses.Originality/valueThis research provides insight into the unique problems faced by the Pakistani government during the pandemic, and how it steers the economy despite these limitations.

scholarly journals This time was different: the budgetary responses to the pandemic-induced crisis in Estonia

2020 ◽  
Vol 32 (5) ◽  
pp. 847-854 ◽  
Author(s):  
Ringa Raudla ◽  
James W. Douglas
Keyword(s):  
Interesting Case ◽  
Economic Factors ◽  
Fiscal Consolidation ◽  
Political Factors ◽  
Fiscal Stimulus ◽  
Content Type ◽  
Global Pandemic ◽  
Party Composition ◽  
The Government ◽  
Fiscal Conservatism

PurposeSince regaining its independence, the Estonian government has followed policies of fiscal consolidation when responding to economic crises. Its response to the COVID-19-crisis has been quite different – it has authorized additional expenditures, cut taxes and incurred considerable debt. This paper gives an overview of the budgetary measures adopted and explores the question: why was it different this time?Design/methodology/approachThe authors draw upon policy documents to zoom in on the main political, institutional and economic factors that help to explain Estonia's departure from extreme fiscal conservatism in the midst of the global pandemic.FindingsThe authors found the key political factors to be the party composition of the government, policy diffusion and policy learning. Key economic factors included Estonia's very low level of debt prior to the crisis and credit market advantages gained from Eurozone membership.Originality/valueEstonia presents an interesting case because in all previous crises it responded with fiscal consolidation, whereas it is now responding with extensive fiscal stimulus.

‘Big data’ patentometrics for R&D decision-making

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Charu Verma ◽  
Pradeep Kumar Suri
Keyword(s):  
Decision Making ◽  
Big Data ◽  
Performance Management ◽  
Relevant Information ◽  
Research Strategy ◽  
Global Market ◽  
Content Type ◽  
Country Level ◽  
Free Data ◽  
The Government

Purpose The purpose of this paper is to highlight the use of big data through patentometric insights for R&D decision-making. Design/methodology/approach This study assesses the inventive activity through ‘big data’ patents, registered by inventors worldwide, using WIPO Patentscope database. The objective is to use the insights from patentometrics for R&D decision-making. The data from WIPO PatentScope (https://patentscope.wipo.int/search/en/search.jsf) was searched for current patent scenario in area of ‘big data’. The data was further organized and cleaned using the Google ‘OpenRefine’. Data was pre-processed to remove all null values. Cleaned data was analyzed using programming language ‘R’, MS Excel (charts and Pivot tables) and free data visualization tool called ‘Tableau Public’, to get insights for R&D decision-making. Findings The key insights included trends (patents with years of publication), top technologies trending the current space, top organizations leading in these technologies and the top inventors who are publishing patents in these technologies through leading organizations were drawn. Details in Section 5 in the paper. Research limitations/implications Global patent data is multi-lingual and spreads across a set of multiple databases. Domain experts may be required to assess, identify and extract the relevant information for analysis and visualization of multi-lingual distributed data sets. Government organizations generally have multi-dimensional goals that may be more toward societal benefits. On the other hand, the commercial companies are more focused on profit. Therefore, the performance management process has to be really effective because it is critical for getting value in the government sector. Practical implications Insights from patent analytics serve as the important input to R&D managers as well as policymakers to assess the global needs to plan the national orientation according to the global market. This will help further for R&D projects prioritization, planning, budget allocations, human capital planning and other gamut of R&D management and decision-making. Social implications Facilitation for R&D institutions (government as well as private) to formulate the research strategy for the domains or research areas to delve into. R&D decisions will be completely data-driven making them more accurate, reliable, valid and informed. These insights are very relevant for policymakers as well to facilitate the need assessment to determine the National priorities, make improvements in meeting societal country-level challenges during the resource allocation at top and subsequently at all other levels. Originality/value Data analytics of global patents in “big data” till 2019 to get insights to facilitate R&D decision-making.

Excess volatility pursuit in autoregressive GARCH model based panel data analysis at country level: BRICS context

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Wajid Shakeel Ahmed ◽  
Muhammad Shoaib Khan ◽  
Muhammad Jibran Sheikh ◽  
Inzamam Khan
Keyword(s):  
Panel Data Analysis ◽  
Discrete Wavelet ◽  
Bond Markets ◽  
Bond Price ◽  
Content Type ◽  
Sovereign Bonds ◽  
Country Level ◽  
Brics Countries ◽  
Excess Volatility ◽  
The Government

PurposeThis particular study examined the government bond price variations in order to determine the presence of excess volatility both at country and panel group level of BRICS countries context.Design/methodology/approachThe study applied the autoregressive GARCH panel model approach proposed by Fakhry and Richter (2015) to evaluate the presence of excess volatility and then examined the diversification benefits. Further, the use of discrete wavelet transformation (DWT) has added the advantage to observe volatility across bonds along with potential diversification benefits by retaining information from the time and frequency domain perspective for both the maturities.FindingsThe main finding indicates that the excess volatility is present in BRICS countries at individual level i.e. in the case of Russia, India and China. However, the 10-year bond showing a less volatility compared to 5-year bond with the possibility of reaping out the benefits of diversification with international portfolio of sovereign bonds.Practical implicationsThe main implication of the research is related to the non-perseverance of EMH as far sovereign bonds of BRICS countries are concerned as the results indicate presence of excess volatility in the 5-year and 10-year bond markets. However, the implicit behavior of 5-year bond could benefit the active fund managers and investors by taking an advantage of a reducing systemic risk through short-medium term investments.Originality/valueThis study contributes not only to the existing studies of similar nature by examining the excess volatility in bond markets but also taking account of co-moment of distinct maturities to confirm possible international diversification benefits for BRICS countries context.

Analysis of the operational risk factors in public hospitals in an Indian state

2019 ◽  
Vol 33 (1) ◽  
pp. 67-88 ◽  
Author(s):  
C.R. Vishnu ◽  
R. Sridharan ◽  
P.N. Ram Kumar ◽  
V. Regi Kumar
Keyword(s):  
Risk Factors ◽  
Healthcare System ◽  
Significant Risk ◽  
Public Hospitals ◽  
Healthcare Sector ◽  
Public Healthcare ◽  
Content Type ◽  
Indian State ◽  
The Government ◽  
The Impact

Purpose Risk management in the healthcare sector is a highly relevant sub-domain and a crucial research area from the humanitarian perspective. The purpose of this paper is to focus on the managerial/supply chain risk factors experienced by the government hospitals in an Indian state. The present paper analyzes the inter-relationships among the significant risk factors and ranks those risk factors based on their criticality. Design/methodology/approach The current research focuses on 125 public hospitals in an Indian state. Questionnaire-based survey and personal interviews were conducted in the healthcare sector among the inpatients and hospital staff to identify the significant risk factors. An integrated DEMATEL–ISM–PROMETHEE method is adopted to analyze the impact potential and dependence behavior of the risk factors. Findings The analysis asserts the absence of critical risk factors that have a direct impact on patient safety in the present healthcare system under investigation. However, the results illustrate the remarkable impact potential attributed to the risk factor, namely, staff shortage in inducing other risk factors such as employee attitudinal issues, employee health issues and absenteeism altogether resulting in community mistrust/misbeliefs. Maintenance mismanagement, monsoon time epidemics, physical infrastructure limitations are also found to be significant risk factors that compromise patient satisfaction levels. Practical implications Multiple options are illustrated to mitigate significant risk factors and operational constraints experienced by public hospitals in the state. The study warrants urgent attention from government officials to fill staff vacancies and to improve the infrastructural facilities to match with the increasing demand from the society. Furthermore, this research recommends the hospital authorities to start conducting induction and training programs for the hospital employees to instill the fundamental code of conduct while working in hectic, challenging and even in conditions with limited resources. Originality/value Only limited papers are visible that address the identification and mitigation of risk factors associated with hospitals. The present paper proposes a novel DEMATEL–ISM–PROMETHEE integrated approach to map the inter-relationships among the significant risk factors and to rank those risk factors based on their criticality. Furthermore, the present study discloses the unique setting of the public healthcare system in a developing nation.

Millennium development goals achievement in different states of India (2003-2004 to 2013-2014)

2016 ◽  
Vol 13 (4) ◽  
pp. 275-299
Author(s):  
Ranajit Chakrabarty ◽  
Mahuya Chakrabarti ◽  
Ayan Chattopadhyay
Keyword(s):  
Solution Method ◽  
Multiple Criteria Decision Making ◽  
State Level ◽  
Political Factors ◽  
Content Type ◽  
Root Cause ◽  
The Status ◽  
Order Preference ◽  
Development Goals ◽  
The Government

Purpose According to the Government of India 2015 report on millennium development goal (MDG), India is yet to achieve almost 50 per cent of the goals set by UN. Characterized by its diversity, India’s progress in terms of the indicators of MDGs for the country as a whole averages out the prevailing state level variations. The purpose of this paper is to explore the status of these goals during 1993-1994-2013-2014 at state level using 12 targets and 35 indicators relevant for India along with an attempt to explain inter-state variations in this regard. Design/methodology/approach Using the technique for order preference by similarity to ideal solution method, a multiple criteria decision making method, the states have been ranked in terms of all the indicators of MDGs. These ranks were then analysed using socio-economic and political factors to understand the root cause of variation. Findings Ranking of the states considering all the indicators reveals the actual scenario in an effective way. The factors like state domestic product, state-wise standard of education level, social backwardness and political leadership help in finding the link between the derived ranks and these socio-economic and political factors. Originality/value Previous studies in this area have been carried out taking the indicators separately. However, without a comprehensive idea with all the indicators, the overall impact cannot be understood effectively. This study is novel since it takes into account each state with respect to all the indicators taken together thereby providing a comprehensive view on the variation in the achievement of MDG goals.

Calling for independence

2010 ◽  
Vol 52 (5) ◽  
pp. 356-368 ◽  
Author(s):  
Dren Doli ◽  
Fisnik Korenica
Keyword(s):  
Market Mechanism ◽  
Special Focus ◽  
Competition Authority ◽  
Market Regulation ◽  
Western Balkans ◽  
Political Factors ◽  
Content Type ◽  
Academic Knowledge ◽  
Competition Laws ◽  
The Government

PurposeThe purpose of this paper is to discuss the concept of regulators’ independence, with a special focus on the competition authorities’ independence. The aim of the paper is to present a broader view of the competition authorities’ independence, by specifically questioning the Western Balkans’ competition authorities’ independence.Design/methodology/approachIn the context discussed, the politicization of competition authorities does commonly result in decisions with uncompetitive nature, whose interference in the functioning of the market economy is fundamental. In that line, this paper discusses and argues in favour of non‐politicized competition authorities’ membership, whose structure should be determined by the law. Therefore, this paper goes on to argue that, when the competition laws determine the appointment of competition authorities’ members biased by and conditional on political factors, it is likely that the competition in the market will be crucially harmed, meanwhile the market mechanism would be insufficient in performance.FindingsThe paper finds that the competition policy's independence can be assured through a competition authority whose membership is freed from political appointments, and whose membership represents a plural environment of interests.Research limitations/implicationsThe paper limits itself to the organizational bases that precondition the competition authorities’ independence.Originality/valueThe paper provides/contributes for a new concept on competition authorities’ independence, and clarifies the limited role that the government can have in this regard. The paper can serve as a source of academic knowledge to both academicians and practitioners whose field of interest is market regulation.

scholarly journals Determinant factor of the quality of financial statements and performance of the government by adding contextual factors

2018 ◽  
Vol 3 (1) ◽  
pp. 28-40 ◽  
Author(s):  
Nirwana Nirwana ◽  
Haliah Haliah
Keyword(s):  
Financial Statements ◽  
Financial Statement ◽  
Regional Government ◽  
Personal Factor ◽  
Political Factors ◽  
Content Type ◽  
System Administration ◽  
The Government ◽  
And Performance

Purpose The purpose of this paper is to re-test the determinant factors of the quality of financial statements and performance of the government by adding contextual factors, such as personal factor, system/administrative factor and political factor, that may affect the quality of financial statement information and performance of the government. Personal factor is proxied to the competencies that affect the quality of financial statements and performance. Social administrative factor is proxied on the regulations and presentation of quality financial statements. Design/methodology/approach The analysis unit in this study was conducted at the organizational level. The research object was in South Sulawesi Province. This was a descriptive and verificative research with survey technique. Based on the objectives of the research, this is an explanatory research. The research method used was explanatory survey with quantitative approach. The population of this research was proxied to the Regional Unit Organization (Organisasi Perangkat Desa) which compiled the financial statements in South Sulawesi Provincial Government consisted of 803 units of Local Government Agencies (Satuan Kerja Perangkat Daerah). The purposive sampling technique was chosen under the following criteria: the regional government whose financial statement has been audited by Badan Pemeriksa Keuangan; the regional government whose financial accountability report has been evaluated by Indonesia’s Agency for Financial and Development Supervision (Badan Pengawasan Keuangan dan Pembangunan). In line with the criteria mentioned above, the minimum samples required for 26 observations/indicators are 5×26=130 respondents. The sample size met the minimum sample requirement of 5 for each group (cell) (Hair et al., 2006, p. 112). Findings Personal factors competence affects the financial statements quality. The high personal factors competence will affect on the high financial statements quality. System/administration factors regulation affect the financial statement quality. The high system/administration factors regulation will affect on the high financial statements quality. Political factors affect the financial statements quality. The high political factors will affect on the high financial statements quality. Personal factor competence has no direct effect on the performance. The high personal factor competence will not affect the high or low of the performance. However, there is a significant indirect effect between personal factor competence on performance through the financial statements quality which means that higher personal factor competence will lead to higher performance through financial statements quality. System/administration factor regulation is not directly affects the performance. The high system/administration factor regulation will not affect on the high or low of the performance. However, there is a significant indirect effect between system/administration factor regulation on performance through the financial statements quality which means that higher the system/administration factor regulation will lead to higher performance through financial statements quality. Political factors is not directly affects the performance. The high political factors will not affect the high or low of the performance. However, there is a significant indirect effect between political factors on performance through the financial statements quality which means that the higher the political factor, it will leads to higher performance through the financial statements quality. Financial statements quality affects the performance. The high financial statements will affect on the performance. Originality/value The research issues raised are the increasing public demands for the government services and accountability, while on the other hand the government is faced with the report and financial quality that are below the expectation. This issue is a national strategic issue, leading this research to aim at providing guidelines that can help the regional government to formulate operational policies and strategies of the quality improvement of financial statement and performance of the regional government.

scholarly journals The development of good governance model for performance improvement

2019 ◽  
Vol 1 (1) ◽  
pp. 21-36
Author(s):  
Haliah Haliah ◽  
Nirwana Nirwana
Keyword(s):  
Financial Statements ◽  
Financial Statement ◽  
Regional Government ◽  
Personal Factor ◽  
Political Factors ◽  
Content Type ◽  
System Administration ◽  
The Government ◽  
And Performance

Purpose The purpose of this paper is to re-test the determinant factors of the quality of financial statements and performance of the government by adding contextual factors, such as the personal factor, system/administrative factor and political factor, that may affect the quality of financial statement information and performance of the government. The personal factor is proxied to the competencies that affect the quality of financial statements and performance. The social administrative factor is proxied on the regulations and presentation of quality financial statements. Design/methodology/approach The analysis unit in this study was conducted at the organizational level. The research object was in the South Sulawesi Province. This was a descriptive and verificative research with a survey technique. Based on the objectives of the research, this is an explanatory study. The research method used was an explanatory survey with a quantitative approach. The population of this research was proxied to the Regional Unit Organization (Organisasi Perangkat Desa/OPD) which compiled the financial statements in the South Sulawesi Provincial Government and consisted of 803 units of local government agencies (Satuan Kerja Perangkat Daerah or SKPD). The purposive sampling technique was chosen under the following criteria: the regional government whose financial statement has been audited by the BPK, the regional government whose financial accountability report has been evaluated by Indonesia’s Agency for Financial, and Development Supervision (Badan Pengawasan Keuangan dan Pembangunan or BPKP). In line with the criteria mentioned above, the minimum samples required for 26 observations/indicators are 5 × 26 = 130 respondents. The sample size met the minimum sample requirement of five for each group (cell) (Hair et al., 2006, p. 112). Findings The personal factor “competence” affects the financial statements’ quality. The high personal factor “competence” will affect the high financial statements’ quality. The system/administration factor “regulation” affects the financial statement quality. The high system/administration factor “regulation” will affect the high financial statements’ quality. Political factors affect the financial statements’ quality. The high political factors will affect the high financial statements’ quality. The personal factor “competence” has no direct effect on the performance. The high personal factor “competence” will not affect the high or low of the performance. However, there is a significant indirect effect between the personal factor “competence” on performance through the financial statements’ quality, which means that the higher personal factor “competence” will lead to higher performance through financial statements’ quality. The system/administration factor “regulation” does not directly affect the performance. The high system/administration factor “regulation” will not affect the high or low of the performance. However there is a significant indirect effect between the system/administration factor “regulation” on performance through the financial statements’ quality which means that higher system/administration factor “regulation” will lead to higher performance through financial statements’ quality. The political factor does not directly affect the performance. The high political factors will not affect the high or low of the performance. However there is a significant indirect effect between political factors on performance through the financial statements’ quality which means that the higher political factor will lead to higher performance through the financial statements’ quality. Financial statements’ quality affects the performance. The high financial statements will affect the performance. Originality/value The research issues raised are the increasing public demands for the government services and accountability, while on the other hand, the government is faced with the report and financial quality that are below the expectation. This issue is a national strategic issue, leading this research to aim at providing guidelines that can help the regional government to formulate operational policies and strategies for the quality improvement of financial statement and performance of the regional government.

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