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on Central and Western Asia |
| By: | Cust, J.; Singh, A.; Neuhoff, K. |
| Abstract: | The paper assesses the demand for rural electricity services and contrasts it with the technology options available for rural electrification. Decentralised Distributed Generation can be economically viable as reflected by case studies reported in literature and analysed in our field study. Project success is driven by economically viable technology choice; however it is largely contingent on organisational leadership and appropriate institutional structures. While individual leadership can compensate for deployment barriers, we argue that a large scale roll out of rural electrification requires an alignment of economic incentives and institutional structures to implement, operate and maintain the scheme. This is demonstrated with the help of seven case studies of projects across north India. |
| Keywords: | Rural Electrification, Distributed Generation, Renewable Energy, India. |
| JEL: | D23 L94 Q42 |
| Date: | 2007–12 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:0763&r=cwa |
| By: | Sumon Kumar Bhaumik; Ekta Selarka |
| Abstract: | performance. On the one hand, concentration of ownership that, in turn, concentrates management control in the hands of a strategic investor, eliminates agency problems associated with dispersed ownership. On the other hand, it may lead to entrenchment of upper management which may be inconsistent with the objective of profit (or value) maximisation. This paper examines the impact of M&A on profitability of firms in India, where the corporate landscape is dominated by family-owned and group-affiliated businesses, such that alignment of management and ownership coexists with management entrenchment, and draws conclusions about the impact of concentrated ownership and entrenchment of ownermanagers on firm performance. Our results indicate that, during the 1995-2002 period, M&A in India led to deterioration in firm performance. We also find that neither the investors in the equity market nor the debt holders can be relied upon to discipline errant (and entrenched) management. In other words, on balance, negative effects of entrenchment of ownermanagers trumps the positive effects of reduction in owner-vs.-manager agency problems. Our findings are consistent with bulk of the existing literature on family-owned and group affiliated firms in India. |
| Keywords: | mergers and acquisitions, corporate governance, manager entrenchment, firm performance, India |
| JEL: | G34 |
| Date: | 2008–02–01 |
| URL: | http://d.repec.org/n?u=RePEc:wdi:papers:2008-907&r=cwa |
| By: | Runjuan Liu; Daniel Trefler |
| Abstract: | We examine the impact on U.S. labor markets of offshore outsourcing in services to China and India. We also consider the reverse flow or 'inshoring' which is the sale of services produced in the United States to unaffiliated buyers in China and India. Using March-to-March matched CPS data for 1996-2006 we examine the impacts on (1) occupation and industry switching, (2) weeks spent unemployed as a share of weeks in the labor force, and (3) earnings. We precisely estimate small positive effects of inshoring and smaller negative effects of offshore outsourcing. The net effect is positive. To illustrate how small the effects are, suppose that over the next nine years all of inshoring and offshore outsourcing grew at rates experienced during 1996-2005 in business, professional and technical services i.e., in segments where China and India have been particularly strong. Then workers in occupations that are exposed to inshoring and offshore outsourcing (1) would switch 4-digit occupations 2 percent less often, (2) would spend 0.1 percent less time unemployed, and (3) would earn 1.5 percent more. These are not annual changes – they are changes over nine years – and are thus best described as small positive effects. |
| JEL: | F16 |
| Date: | 2008–06 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:14061&r=cwa |
| By: | Kalim, Rukhsana; Shahbaz, Muhammad |
| Abstract: | Remittances play a very important role in eliminating poverty of a nation. Remittances it is believed increase the money supply and stimulate demand for consumption and investment. The basic objective of the present paper is to explore the various factors affecting poverty with particular emphasis on the relationship between poverty and foreign remittances. It is hypothesized that remittances, trade openness, GDP growth, inflation, urbanization and tax rates are the possible variables affecting poverty. The remittances-poverty nexus is tested both for the short-run as well as for the long-run. Fully modified ordinary least square (FMOL) technique is used for establishing short-run and long-run relationship between poverty and its determinants. The period selected is from 1973-2006. Results support hypothesis that remittances bring a decline in poverty. |
| JEL: | B22 |
| Date: | 2007–09–24 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:8953&r=cwa |
| By: | Krishna Chaitanya,; Emilia Vazquez Rozas |
| Abstract: | Emerging economies viz., Brazil, China, India, Mexico and South Africa have seen a tremendous increase in the FDI inflows in the last one decade. Amongst all, the FDI inflows of China witnessed sharp rise from 1992. As on 2006, China stood as the world’s second largest recipient of FDI inflows (AT Kearney Report, 2006), leaving behind many emerging economies in the race of attracting FDI inflows. |
| Keywords: | FDI inflows, Emerging economies, China & Cointegration. |
| JEL: | F21 O57 E44 C22 |
| Date: | 2008–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:wdi:papers:2008-904&r=cwa |
| By: | Dani Rodrik |
| Abstract: | The focus of policy reform in developing countries has moved from getting prices right to getting institutions right, and accordingly countries are increasingly being advised to move towards "best-practice" institutions. This paper argues that appropriate institutions for developing countries are instead "second-best" institutions -- those that take into account context-specific market and government failures that cannot be removed in short order. Such institutions will often diverge greatly from best practice. The argument is illustrated using examples from four areas: contract enforcement, entrepreneurship, trade openness, and macroeconomic stability. |
| JEL: | O1 |
| Date: | 2008–06 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:14050&r=cwa |
| By: | Md. Aminul Islam and Farid Ahammad Sobhani (University Sains Malaysia; University Sains Malaysia) |
| Abstract: | The purpose of this study was to identify and understand the factors influencing outsourcing decision in the manufacturing industry in Bangladesh. Existing literature revealed that many manufacturing industry were faced with challenges in the competitive environment to be competitive in the market and produce products at the minimum cost as possible yet meeting customer specification without affecting the quality and delivery schedule. Thus, outsourcing could be an alternative to solve most of the problems faced by many manufacturing industry in Bangladesh. This stirred these researchers to identify and understand the possible factors influencing the manufacturing industry in outsourcing decision whether these factors could really influence the management to opt for outsourcing and help in solving the problems. The theoretical framework was developed to hypothesize four components namely reduce operating cost, improve company focus, access to world class capability and unavailability of internal resources in relation to influence outsourcing decision in the manufacturing industry. The proposed study utilized the exploratory approach, whereby the survey method was used. The data was collected through questionnaires in various manufacturing industry in Bangladesh. The findings were analyzed using a statistical software package (SPSS), and the main tools that were used were Cronbach’s Alpha, descriptive and linear regression analysis. The findings revealed that the factors or components identified for the study had significant effect on outsourcing decision except reduce operating cost. This study provided evidence that these factors would influence outsourcing decision in the manufacturing industry in Bangladesh. The recommendations are also offered more in-depth guidelines for maximizing the benefits of outsourcing. |
| Date: | 2008–06 |
| URL: | http://d.repec.org/n?u=RePEc:aiu:abewps:69&r=cwa |
| By: | S. S. M. Sadrul Huda, Ahmed Taneem Muzaffar and Jashim Uddin Ahmed (East West University, Bangladesh; East West University, Bangladesh; North South University, Bangladesh) |
| Abstract: | Contaminated and unhygienic food intake is a major problem in the urban cities of Bangladesh. This raises a serious concern for health of the urban citizens. The research investigates into the attitude of the urban educated people on their awareness of food safety. The findings of the study suggest a high degree of awareness amongst respondents of the attitudinal survey. People with higher educational background show higher degree of awareness of how the quality of food should be maintained. A lack of confidence on the functions of government regulatory agency in testing the food standard is also reflected in the study. |
| Date: | 2008–05 |
| URL: | http://d.repec.org/n?u=RePEc:aiu:abewps:65&r=cwa |
| By: | AKM Matiur Rahman and Sabera Yasmin (American International University-Bangladesh (AIUB); Dhaka University, Bangladesh) |
| Abstract: | This empirical study estimates the revenue losses derived from different categories of taxpayers who used Self-assessment System (SAS) under direct taxation in Bangladesh. Even though a small portion of populations live in urban areas (over 80 percent live in rural areas) that used the SAS in filing tax-returns, they significantly contributed to the problem. Revenue loss due to these taxpayers’ noncompliance with laws of income is a growing problem where the past five year (2000-2004) data statistics suggested that the Private Ltd Companies and Public Ltd Companies contributed significantly to accelerating the problem. With governmental ongoing various measures including the provision of SAS that was designed to encourage taxpayers for compliance, the tax-evasion issue in Bangladesh is critical and it deserves attention without delay. |
| Date: | 2008–06 |
| URL: | http://d.repec.org/n?u=RePEc:aiu:abewps:63&r=cwa |
| By: | Md. Abid Hossain Khan, Ahmed Taneem Muzaffar and Abdul Kader Nazmul (Independent University, Bangladesh; East West University, Bangladesh; American International University-Bangladesh (AIUB)) |
| Abstract: | The use of internet technology for corporate reporting is currently a well-established practice in many countries that have developed securities market. Investors find corporate web sites as a convenient way of collecting financial information of companies. Corporations also find the internet to be the most prompt and economical means of information dissemination. The practice of corporate reporting on the internet is relatively new in Bangladesh. However, the fast development of securities market in Bangladesh has caused expansion of this practice day by day. The paper investigates the emerging issues of online corporate financial reporting in the global context. It then makes an attempt to provide an appraisal of the current practice of corporate financial reporting on the internet by Bangladeshi companies and tries to provide recommendations in the light of global developments. The research reveals that although many of the issues relating to online financial reporting have been addressed by different standard setters worldwide, they have been overlooked in Bangladesh and some of these issues need particular attention for continued development and further guidance in this area. |
| Date: | 2008–06 |
| URL: | http://d.repec.org/n?u=RePEc:aiu:abewps:71&r=cwa |
| By: | Md. Mohiuddin, Md. Didarul Alam and Abdullah Ibneyy Shahid (IBA, University of Dhaka, Bangladesh; Independent University, Bangladesh; IBA, University of Dhaka, Bangladesh) |
| Abstract: | Literature strongly supports vibration of the stock price as a consequence of various macroeconomic factors (Darrat, 1990; Fama & Schwert, 1977; Jaffe & Mandelker, 1976; Nelson, 1976; Pearce & Roley, 1985; Ripley, 1973). This study has investigated the explanatory power of various macro-factors such as inflation rate, exchange rate, interest rate, money supply and production index on the variability of the stock price in Bangladesh. Multiple regression analysis has been conducted to asses the relationship between the stated macro economic factors with stock price. All share price index of the Dhaka Stock Exchange has been used as a proxy for stock price, the dependent variable of the study. No significant relationship has been found between the stock price and any of the macroeconomic factors. The study bodes well for advanced empirical models with additional macroeconomic variables. |
| Date: | 2008–06 |
| URL: | http://d.repec.org/n?u=RePEc:aiu:abewps:74&r=cwa |
| By: | Dr A A Rushdi (American International University-Bangladesh) |
| Abstract: | Methodology adopted for asset valuation is important to know how comparable the rates of profit are over time and between companies. Higher profitability calculated on the basis of book value of assets or historical cost basis may in fact conceal the erosion of the value of investment due to inflation over time. On the other hand, technical advancement may have significantly reduced the replacement cost of assets. Consequently, new comers in the industry may appear to be doing better compared to the existing firms if they do not adopt replacement cost valuation of assets. However, replacement value may differ if individual components of a facility are replaced separately from the replacement cost for the entire facility. Replacement cost is not just cost of reproducing the existing plant or plant in question. When replaced in its entirety new features are sometimes added and the facility may work better. In either case, replacement cost may in some cases be larger than the net present value of the future stream of income (NPV) from the existing plant or the net resale value (NRV) of that. In such cases, calculation of profit on the basis of replacement cost would underestimate the performance of such firms. In order to address such issues of comparative performance assessment an increasing number of economists, policy makers and accountants have recommended the use of deprival value method for valuation of assets. The deprival value is the lesser of the depreciated replacement cost and economic value of assets to the business. The economic value, in turn, is larger of the NPV and the NRV. This paper presents a comparative picture of the major asset valuation methods and discusses their relevance in context of the Government Trading Enterprises of Bangladesh. |
| Date: | 2008–05 |
| URL: | http://d.repec.org/n?u=RePEc:aiu:abewps:60&r=cwa |
| By: | Wolf, C.; Pollitt, M.G. |
| Abstract: | This study empirically investigates the impact of privatisation on firm performance in the global oil and gas industry, where questions of resource control have regained widespread attention. Using a dataset of 60 public share offerings by 28 National Oil Companies it is shown that privatisation is associated with comprehensive and sustained improvements in performance and efficiency. Over the seven-year period around the initial privatisation offering, return on sales increases by 3.6 percentage points, total output by 40%, capital expenditure by 47%, and employment intensity drops by 35%. Many of our observed performance improvements are already realised in anticipation of the initial privatisation date, accrue over time, and level off after the initial ownership change rather than accelerate. Details of residual government ownership, control transfer, and size and timing of follow-on offerings provide limited incremental explanatory power for firm performance, except for employment intensity. Based on these results partial privatisations in the oil sector might be seen to capture a significant part of the performance improvement associated with private capital markets without the selling government having to cede majority control. |
| Keywords: | Privatisation, ownership, corporate performance, anticipation, oil and gas industry |
| JEL: | C23 G32 L33 L71 M20 Q40 |
| Date: | 2008–02 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:0811&r=cwa |
| By: | Mohammad A. Ashraf, M. H. R. Joarder and R. Al-Masum (University Utara Malaysia; United International University, Bangladesh; North South University, Bangladesh) |
| Abstract: | Optimizing employee satisfaction is a key to the success of any business that relies on a variety of organizational and psycho-economic factors. This study was conducted to identify that sort of key factors, which are responsible to influence on the overall job satisfaction in the growing mobile phone corporate in Bangladesh. The phone corporates, which are included here in the study, are Grameen Phone (GP), Bangla Link and Aktel. The factors included in the investigation as independent variables are Compensation Package, Supervision, Career Growth, Training and Development, Working atmosphere, Company Loyalty and Performance Appraisal. The result indicates that training and performance appraisal, work atmosphere, compensation package, supervision, and company loyalty are the key factors that impact on employees’ job satisfaction in these corporations. The study also finds that the employees of these three corporations possessed above of the moderate level and positive attitude towards job satisfaction, which could be nudged up to excellent status of employee satisfaction if the management takes those identified factors with a little more rigorous weight into their considerations and acts further accordingly. |
| Date: | 2008–06 |
| URL: | http://d.repec.org/n?u=RePEc:aiu:abewps:68&r=cwa |