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The MacSharry reforms of the Common Agricultural Policy : a challenge to public choice theoryKay, Adrian January 1997 (has links)
This thesis draws on the insights of economics, political economy and political science to study the MacSharry reforms of the CAP enacted in May 1992. It has two objectives. First, to understand the MacSharry reforms in terms of why they happened, when they did and in the form that they did. Second, to develop a more general framework for the interpretation of CAP reforms. The thesis is in two parts. In the first, the public choice paradigm of decision-making systems is introduced as an alternative to neo-classical agricultural economics. It is employed to generate three frameworks of CAP reforms; the interest groups, the prominent players and the institutions. The evidence from the histories of previous reforms of the CAP provides the bias that the institutions framework is the most insightful for understanding the reform process. The second part of the thesis is a case study of the MacSharry reforms. It is constructed from primary and secondary sources. Seventeen in-depth, individual interviews with key participants in, or observers of, the reform process were conducted. These are complimented by an extensive survey of the general news commentary on, the academic analysis of, and specialist agri-business views of the reforms. The institutions framework drawn from part one of the thesis is used to interpret this evidence to achieve objective one of the thesis. The central claim with regard to the second objective is that previous attempts at understanding the CAP reform process and its outcome have tended to underestimate the importance of the institutional structure of decision-making.
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An econometric analysis of the effects of institutions and economic transformation on agricultural land prices : case of MalaysiaKhalid, Haniza January 2011 (has links)
This thesis seeks to investigate key drivers of the agricultural land market in a country undergoing economic structural transformation. The Ricardian land price model is extended to reflect different scenarios with regards to flexibility of land supply and competition for alternative uses for land. In addition, the study examined various non-market influences on price: (i) state intervention to determine and stabilise land supply for competing uses; (ii) transaction costs in land exchange and utilisation, and (iii) imperfect market competition arising from excess surplus situations and differences in buyer and seller characteristics. Their impacts on the agricultural land market are described via an estimation of a hedonic price model using parcel-level data (n = 2222) taken from a period of 7 years for four states in the Central West coast of Peninsular Malaysia. The data covers agricultural land with and without strong development potential. The latter comprise of land with continued oil palm, rice, rubber cultivation potentials. An additional category is vacant or idled agricultural land with relative small development potential. Results show that estimated coefficients of all land attributes in the model (road frontage, proximity to urban centres, population growth, land restrictions and year of sale) are significant. However their individual implicit value differs across different land categories. The spatial econometrics exercise was inconclusive in identifying the type and degree of spatial bias present in the data. The effect of economic transformation and expectations in the economy is further examined via a moving correlation analysis using hedonic price indexes constructed from a longer set of sales data (15 years). Price of farmland with clear development potential appears to correlate positively with value and volatility of development rent (which is proxied by the stock market property index), while price of farmland with pure agricultural potential is correlated with value and volatility of agricultural rent (proxied by the stock market plantation index).
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Corporate governance of Chinese publicly listed companiesGu, Wei January 2013 (has links)
Agency theory suggests that problems will arise when there is a separation of ownership and control in firms. According to the literature, the main agency problem under a diffused ownership structure is likely to be the conflict of interests between managers and shareholders, whereas the central agency problem under a concentrated ownership structure is probably the exploitation of minority shareholders' interests by controlling shareholders. In the case of Chinese enterprises, such problems are even more complicated, as the government acts as both the regulator and player in the markets. This thesis utilises data from Chinese stock markets to address some important issues in the corporate governance literature. Firstly, it empirically examines the relationship between ownership structure and corporate performance in Chinese publicly listed companies (PLCs), with the heterogeneity amongst state ownership types being carefully explored. In contrast with previous research, I found that state ownership does not necessarily lead to inferior corporate performance, and some state owners can perform equally as well as their private competitors. Secondly, this thesis thoroughly investigates the issue of corporate cash holdings of Chinese PLCs, which enhances our understanding of firms' cash holding behaviour in the context of the largest transition economy. The empirical analysis not only reveals the determinants of corporate cash holdings of PLCs, but also I confirms the existence of the target cash holding level in China. Moreover, the exploitation of firms' dynamic adjustment mechanisms towards target levels is also included in the analysis. Finally, it seeks to redress the gap in the literature on top executive turnover in the Chinese context. The executive turnover-performance relationship is explicitly modelled in the analysis, and a variety of reasons why CEOs exit their posts are also dearly identified. Empirical findings confirm a negative relationship between corporate performance and CEO turnover. Also, empirical analysis suggests that regardless of the ownership types, there is no systematic difference in the CEO performance-turnover sensitivity among PLCs. Meanwhile, there is evidence showing that PLCs tend to report some 'face-saving' reasons instead of disclosing true reasons for turnovers, in order to protect their departing CEOs.
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Economics of child labourFatima, Ambreen January 2013 (has links)
The dissertation aims to explore the supply and demand side determinant of child labour at macro, meso and micro level. At macro level it explores the effect of globalization (defined as openness to trade and inflow of foreign direct investment) and credit market imperfections on child labour. At meso level it explores the effect of labour market conditions on child labour. As the above two levels of analysis are mainly concerned with the demand for child labour, the micro level analysis explores the supply side determinant of child labour. At micro level this dissertation explores the effect of intrahousehold distribution of power on child related outcome. Specifically it explores the effect of mother’s decision making power on her child’s labour and schooling. The macro level analysis is based on cross country regression framework while meso and micro level analysis is based on the data from Pakistan. At macro level, this dissertation points out that trade openness and FDI inflow raise the standard of living in an economy thereby reducing child labour incidence. As the channel through which trade could affect child labour is by increasing income of the poor, credit market imperfection shows insignificant effect. At meso level, this dissertation points out that high adult wages in an area increase demand for child labour while presence of adult unemployed proportion in an area reduces demand for child labour. However, presence of unemployed adult in a house increases supply of child labour. Exports, on one hand, reduce supply of child labour by affecting the income of poor at macro level while on the other hand at meso level, subcontracting of production process to small informal sector increases demand for child labour. The informal sector being unprotected by law employs a high proportion of child labour. At micro level mother’s decision making power significantly decreases child labour supply and increases child schooling. The effect is significant in case of girls but not in case of boys. This study also shows that whether children work for generating income or as family helpers, mothers are equally concerned for their welfare. Their decision making power significantly reduces labour among children.
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Trade, technology and relative wages : a computable general equilibrium analysisWinchester, Niven January 2002 (has links)
The cause(s) of increased wage inequality in developed nations in recent decades is a contentious issue in international economics. In the UK, the ratio of non-manual to manual wages increased by 24.4 percent between 1979 and 1999. Over the same interval, there has been an increase in the relative supply of skilled workers. This suggests that the increase in the relative wage of skilled labour has been driven by a large increase in relative demand for this type of labour. Two candidates commonly cited as the catalyst behind the demand shift are increased trade between developed countries and unskilled-labour-abundant developing nations, and technical change favouring skilled labour. This thesis contributes to the debate by evaluating the effects of trade and technology on UK wages using a computable general equilibrium framework. Modelling is aided by identifying a larger number of labour types than is the norm and estimating changes in the stocks of four different capital assets over the period of interest. The results, although sensitive to key parameter values, single out technical change as the cause of increased wage dispersion in the UK, but also raise the possibility that trade has had a significant adverse effect on the relative wage of a narrowly defined group of workers at the bottom end of the skill distribution.
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Investigating assessment methods for the evaluation of actions mitigating nitrate loss to waterCherry, Katherine January 2011 (has links)
Diffuse nitrate (N) loss from agriculture is degrading surface and groundwater quality throughout Europe, leaving waterbodies at risk of not reaching targets set by the Water Framework Directive (WFD). Although a wide range of mitigation methods to reduce diffuse N loss have been identified, their appropriateness and effectiveness is not fully understood, especially at the catchment scale where a wide range of environmental and agricultural conditions exist. Suitable assessment methods are required to quantify the impact of mitigation and provide confirmation of their effectiveness. This study aimed to investigate the applicability of measurement and nutrient budgets for the evaluation of mitigation effectiveness at the field, farm and catchment scale; nutrient budgets represent an alternative approach where long transit times delay observable responses to mitigation in measurement. Investigations focused on two catchments in SW England, Milborne St Andrew (MSA) and Empool / Eagle Lodge (EMEL). Soil surface budgets were calculated for a total of 84 fields and farmgate surpluses / efficiency for 34 farms between 2005 and 2008. Soil mineral nitrogen (SMN) and porous pot (PP) sampling was undertaken in 115 and 57 fields respectively, and groundwater / stream water monitored at 171 sites. Sampling was carried out in 2007 and 2008, and a range of mitigation methods adopted on farm in 2008. Comparing results before and after mitigation, measurement approaches displayed contradictory responses – SMN significantly decreased, PP leached load and concentration significantly increased, and groundwater responses varied between sites. Results suggest an overriding sensitivity to environmental condition and the need for longer timescales especially at the catchment scale. Nutrient budgets at the field and farm scale tended to return lower surpluses post mitigation with 79% / 77% farms improving their farmgate surplus / efficiency. However only in EMEL were improvements in field or farm scale surpluses significant, a result of modest mitigation induced change and sensitivity to economic and environmental drivers. Comparing measurement and budget approaches, budgets were more responsive to changes in nutrient management in the short term and offered higher levels of farmer accountability. However long term measurements are required to provide confirmation that improvements in nutrient budgets transpire in water quality. As such a combined approach is suggested. With direct links to economic benefits likely to aid farmer engagement, and providing more complete representations of mitigation response and feedback, the use of farm scale budgets / efficiency over field scale budgets is advocated.
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Stakeholder engagement in waste management : understanding the process and its impact on accountabilityZakaria, Zarina January 2011 (has links)
This thesis examines the operationalisation of stakeholder engagement process in sustainable waste management setting. The study aims to establish role of stakeholder power in the prioritisation process and add to empirical understanding of the way engagement affect accountability, which evaluates both the `process', and the `outcome' of engagement. This research is based on a three mini cases of local government authorities, which involve in-depth interviews, observations and document analysis. A broader insights of the engagement process from several stakeholder groups, namely the residents, NGOs, councillors and private waste contractors, are considered and compared with managerial views, and several aspects of stakeholder engagement practices are analysed, including the mechanisms used as well as the challenges faced by the LGAs in engaging. In addition, the intentions behind engagement undertakings are analysed and evaluation of the effectiveness of stakeholder engagement practices are made. Drawing on stakeholder theory, the role of power is explored as a stakeholder attribute in determining salience and in the engagement process. Insights from the interviewees are analysed in relation to the extent of participation and perceived level of power held which are then used to map the extent of their involvement on the ladder of engagement. The findings indicate that power does play an important role in the engagement process. Managers also give greater consideration to those demonstrating certain extent of power i.e. the private waste contractor and councillors. It has also been proved that managers' perceptions of the levels of power held by stakeholders play a significant role in establishing their priorities and deciding between competing interests. The use of stakeholder engagement as a mechanism for accountability has led to the recognition of a deficiency underlying the many processes of engagement. The study also has identified an additional feature of accountability, namely the interactive nature of engagement, which is unrecognised in other established measures of accountability.
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Development and implementation of policies for the management of psychosocial risks : exploring the role of stakeholders and the translation of policy into practice in EuropeJain, Aditya Kailash January 2011 (has links)
The key aim of this research is to evaluate the impact of policy level interventions for the management of psychosocial risks in Europe. This research is exploratory in nature and seeks to clarify the policy framework in relation to psychosocial risk management, identify key policy stakeholders, examine their perceptions and clarify their role in the policy making process. The research also evaluates the impact of selected policies by analysing their implementation and impact on action at the national and enterprise levels. A combination of qualitative and quantitative methodologies was employed. Three qualitative and two quantitative studies were conducted and sought to: a. identify all stakeholders relevant to psychosocial risk management, b. analyse the role of key stakeholders in the policy development process as well as drivers and barriers for the development and implementation for such policies for psychosocial risk management, c. investigate the effectiveness and needs related to EU and national regulations governing health and safety and psychosocial risk management at the workplace, d. explore stakeholders’ views on the impact of policy interventions and priorities for action at the policy level, and e. analyse the translation of policy into practice at the enterprise level, by assessing the impact of policies on enterprise action (specifically on the implementation of procedures and measures to manage psychosocial risk management), and by identifying the key drivers, barriers and needs of European enterprises in relation to psychosocial risk management. Overall, the findings of this work recognise many challenges in relation to policy evaluation for psychosocial risk management. However, unless the impact of these policies is evaluated using predefined and appropriate evaluation methodologies and criteria, the basis on which further policies can be developed will not be clear. The research also highlighted that despite the increased awareness of issues relating to psychosocial risks in Europe, there are several differences in perceptions amongst stakeholders and lack of prioritisation of these issues at the policy level that may seriously hinder practice. In this context, the role of researchers and academics is important. Evaluation of policies must therefore ideally be carried out on a tripartite plus basis and should not be within the remit of governmental agencies alone.
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Deinstitutionalisation from the perspective of sensemaking : an empirical investigation of the Electricity of Vietnam CorporationTham, Huyen Anh January 2012 (has links)
This thesis is a study of deinstitutionalisation seeking to understand the evolvement of deinstitutionalisation process via the lens of sensemaking. It does so by conducting an in-depth qualitative, case study-based empirical study of the processual nature of deinstitutionalisation and the significance of organisational sensemaking during the deinstitutionalisation process. An interdisciplinary approach is adopted drawing insights from various literatures including institutional theory, sensemaking and social psychology. The need for greater understanding of the deinstitutionalisation phenomenon, especially its process is acknowledged after relevant literatures are reviewed. The potential of using microanalysis in examining the deinstitutionalisation process is demonstrated. The sensemaking perspective is thus used to facilitate this processual research. The findings emerged from this thesis have important implications for the theoretical development of institutional changes, sensemaking and especially deinstitutionalisation. First of all, the model and evidence sheds some light on the nature and development of the deinstitutionalisation process. Secondly, the analytic capacity of the institutional theory especially its descriptive and predictive contents are tested in the context of evolving institutions. The relative strengths of regulative, cognitive and normative influences in non-conventional cultural and institutional contexts extend our knowledge of institutional change and effects. Using sensemaking perspective, the findings also demonstrate the role and power of resistance during institutional processes and explain the possibility of multiple paces and outcomes within a single deinstitutionalisation process. As for sensemaking, crisis sensemaking will be examined in a new context: disaster-struck but not life threatening. In practical terms, this study is carried out in an organisational context therefore it has relevant managerial implications. Knowledge gathered here should offer useful insights for businesses, especially managers.
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Knowledge worker training in MalaysiaZulkifli, Izyani January 2010 (has links)
An increasing number of countries have shifted, or are shifting, towards the knowledge-based economy. For these countries, including Malaysia, the quality of knowledge workers is extremely important in determining the pace and success of such transition. Thus, training is often carried out to improve the skills of knowledge workers at the workplace. But despite its importance, research on knowledge worker training is extremely limited. This study seeks to partially fill this gap in the literature by investigating three aspects of knowledge worker training in Malaysia. Using an online survey, data is collected from a sample of companies and knowledge workers in MSC Malaysia. In the first part of the study, the role of foreign ownership on the provision of, and participation in training in MSC Malaysia, is examined. Here the questions of whether or not there are any differences between the quantity and quality of training provided by local and foreign MSC-status companies and whether or not there are any differences in training participation between knowledge workers working at both entities are investigated. After establishing that some variations in training do exist between local and foreign companies in MSC Malaysia, the second part of the study examines in more detail the determinants of training among companies in MSC Malaysia. It particularly investigates the factors that affect the occurrence and magnitude of training by MSC-status companies as a whole To complement these findings, the final part of the study investigates the impact of training on the knowledge workers’ earnings, productivity and career advancement. Due to the nature of the data set, however, the issue of endogeneity of training and selectivity bias are not addressed in the analyses of wage effects of training while productivity is measured subjectively via the knowledge workers’ perceptions of the effect on ability to perform job tasks. The third analysis on career advancement is further divided into the impacts of training on the knowledge workers’ likelihood of receiving a promotion and searching for a new job.
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