Financial Theory and Practice最新文献

筛选
英文 中文
Measuring efficiency in the Croatian customs service: a data envelopment analysis approach 衡量克罗地亚海关服务效率:数据包络分析方法
Financial Theory and Practice Pub Date : 2012-06-05 DOI: 10.3326/FINTP.36.2.2
Alen Benazić
{"title":"Measuring efficiency in the Croatian customs service: a data envelopment analysis approach","authors":"Alen Benazić","doi":"10.3326/FINTP.36.2.2","DOIUrl":"https://doi.org/10.3326/FINTP.36.2.2","url":null,"abstract":"The concept of efficiency in the public services is more complex than the concept of efficiency in the private, profit-oriented sector. Consequently, the measurement of efficiency in the public services is very complex and implies more effort in the identification of relevant outputs and inputs. One of the segments of the public service system in the Republic of Croatia is the Customs Administration, which is an important regulator of Croatian international trade and freight traffic, and also a significant tax authority. This research is focused on determining the relative efficiency of regional organizational units of the Customs Administration on the basis of its most relevant inputs and outputs. Conclusions were made by the processing of data obtained directly from the Customs Administration by using the method of data envelopment analysis. The results obtained, in the end, indicate the need to establish new and different territorial organizational structure for the Customs Administration.","PeriodicalId":30016,"journal":{"name":"Financial Theory and Practice","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2012-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77888561","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 11
Public financing in Croatian sport 克罗地亚体育的公共资金
Financial Theory and Practice Pub Date : 2012-06-05 DOI: 10.3326/FINTP.36.2.3
Sanela Škorić, M. Bartoluci, Zrinko Čustonja
{"title":"Public financing in Croatian sport","authors":"Sanela Škorić, M. Bartoluci, Zrinko Čustonja","doi":"10.3326/FINTP.36.2.3","DOIUrl":"https://doi.org/10.3326/FINTP.36.2.3","url":null,"abstract":"Sport is a complex social activity that encompasses various areas. This, of course, complicates the matter of its financing since it is financed by private and public sources. This is mostly due to the fact that certain sporting activities are considered to be public goods which are then financed by public funds, i.e. the state and local budgets. This paper reports on the analysis of public sources of sports financing. The research confirmed the assumption that in the structure of public sources the local budget prevails, i.e. money coming from local budgets is higher than that coming from central government. Based on the given data concerning local budgets for sports, a trend analysis was conducted. Finally, criteria applied when distributing local funds to sports organizations and single sports were analysed. Based on the correlation analysis, this paper shows that the amount of funds coming from local budgets is correlated with sporting performance (medals won at domestic competitions).","PeriodicalId":30016,"journal":{"name":"Financial Theory and Practice","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2012-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90305101","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 9
Book review: Robust Political Economy. Classical Liberalism and the Future of Public Policy / Mark Pennington. Cheltenham, UK: Edward Elgar Publishing, 2011 书评:《稳健的政治经济学》。古典自由主义与公共政策的未来/马克·彭宁顿。切尔滕纳姆,英国:爱德华·埃尔加出版社,2011
Financial Theory and Practice Pub Date : 2012-06-05 DOI: 10.3326/FINTP.36.2.5
Vuk Vuković
{"title":"Book review: Robust Political Economy. Classical Liberalism and the Future of Public Policy / Mark Pennington. Cheltenham, UK: Edward Elgar Publishing, 2011","authors":"Vuk Vuković","doi":"10.3326/FINTP.36.2.5","DOIUrl":"https://doi.org/10.3326/FINTP.36.2.5","url":null,"abstract":"","PeriodicalId":30016,"journal":{"name":"Financial Theory and Practice","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2012-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76853427","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
What makes non-profit soccer teams run? A panel data approach using a sample of Braga teams 是什么让非营利性足球队运转起来?使用布拉加队样本的面板数据方法
Financial Theory and Practice Pub Date : 2012-06-05 DOI: 10.3326/FINTP.36.2.4
P. Mourão, Cesar Costa Cima
{"title":"What makes non-profit soccer teams run? A panel data approach using a sample of Braga teams","authors":"P. Mourão, Cesar Costa Cima","doi":"10.3326/FINTP.36.2.4","DOIUrl":"https://doi.org/10.3326/FINTP.36.2.4","url":null,"abstract":"Amateur soccer teams are influenced by different local and regional factors from professional soccer teams. This article revisits the literature on the determinants of soccer performance and the sustainability of non-profit organizations. Using panel data techniques, we conclude that the outcomes of non-profit soccer teams depend on specific local markets and on the institutional environments of nonprofit organizations.","PeriodicalId":30016,"journal":{"name":"Financial Theory and Practice","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2012-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73161872","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 5
Coordination between the monetary and public debt management policies in Croatia 克罗地亚货币和公共债务管理政策之间的协调
Financial Theory and Practice Pub Date : 2012-06-05 DOI: 10.3326/fintp.36.2.1
Zorica Raspudić Golomejić
{"title":"Coordination between the monetary and public debt management policies in Croatia","authors":"Zorica Raspudić Golomejić","doi":"10.3326/fintp.36.2.1","DOIUrl":"https://doi.org/10.3326/fintp.36.2.1","url":null,"abstract":"This paper explains the main characteristics of and prerequisites for coordination between the measures and instruments of monetary and public debt management policies in Croatia and evaluates current practice, particularly over the last two recession years. Attention is drawn to the importance of coordination for achieving macroeconomic stability and to the main problems and challenges obstructing successful coordination. It is assessed that the Croatian National Bank (CNB), with its measures and instruments, has consistently contributed to improving coordination with the public debt management policy, despite the narrowing of its room for manoeuvre due to a complex economic environment and the specific functioning of the transmission mechanism of monetary policy. Notwithstanding some contribution to coordination made by the Government and Ministry of Finance, they must take measures and employ instruments to make more significant adjustments and, together with the CNB, define an optimum fiscal and monetary policy mix for the future that will ensure stable economic growth. This paper gives an overview of major CNB measures aimed at facilitating the public debt management and improving coordination with the Ministry of Finance, and presents a detailed analysis of open market operations. It also points to a certain contribution of the Ministry of Finance to the coordination improvement, indicating major barriers to effective coordination between these important policies.","PeriodicalId":30016,"journal":{"name":"Financial Theory and Practice","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2012-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84329556","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 6
Book review: Why Nations Fail: The Origins of Power, Prosperity, and Poverty / Daron Acemoglu and James A. Robinson. London: Profile Books, 2012 书评:《国家为什么失败:权力、繁荣和贫穷的起源》/达隆·阿西莫格鲁和詹姆斯·a·罗宾逊。伦敦:Profile Books, 2012
Financial Theory and Practice Pub Date : 2012-03-20 DOI: 10.3326/FINTP.36.3.5
Vuk Vukovic
{"title":"Book review: Why Nations Fail: The Origins of Power, Prosperity, and Poverty / Daron Acemoglu and James A. Robinson. London: Profile Books, 2012","authors":"Vuk Vukovic","doi":"10.3326/FINTP.36.3.5","DOIUrl":"https://doi.org/10.3326/FINTP.36.3.5","url":null,"abstract":"In the West are the 'haves', while much of the rest of the world are the 'have-nots'. The extent of inequality today is unprecedented. Drawing on an extraordinary range of contemporary and historical examples, Why Nations Fail looks at the root of the problems facing some nations. Economists and scientists have offered useful insights into the reasons for certain aspects of poverty, such as Jeffrey Sachs (it's geography and the weather), and Jared Diamond (it's technology and species). But most theories ignore the incentives and institutions that populations need to invest and prosper: they need to know that if they work hard, they can make money and actually keep it - and the key to ensuring these incentives is sound institutions. Incentives and institutions are what separate the have and have-nots. Based on fifteen years of research, and stepping boldly into the territory of Ian Morris's Why the West Rules - For Now, Daron Acemoglu and James Robinson blend economics, politics, history and current affairs to provide a new, persuasive way of understanding wealth and poverty. And, perhaps most importantly, they provide a pragmatic basis for the hope that those mired in poverty can be placed on the path to prosperity.","PeriodicalId":30016,"journal":{"name":"Financial Theory and Practice","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2012-03-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74394754","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 518
The efficient market hypothesis: problems with interpretations of empirical tests 有效市场假说:实证检验解释的问题
Financial Theory and Practice Pub Date : 2012-03-13 DOI: 10.3326/FINTP.36.1.3
Denis Alajbeg, Zoran Bubas, Velimir Šonje
{"title":"The efficient market hypothesis: problems with interpretations of empirical tests","authors":"Denis Alajbeg, Zoran Bubas, Velimir Šonje","doi":"10.3326/FINTP.36.1.3","DOIUrl":"https://doi.org/10.3326/FINTP.36.1.3","url":null,"abstract":"Despite many “refutations” in empirical tests, the efficient market hypothesis (EMH) remains the central concept of financial economics. The EMH’s resistance to the results of empirical testing emerges from the fact that the EMH is not a falsifiable theory. Its axiomatic definition shows how asset prices would behave under assumed conditions. Testing for this price behavior does not make much sense as the conditions in the financial markets are much more complex than the simplified conditions of perfect competition, zero transaction costs and free information used in the formulation of the EMH. Some recent developments within the tradition of the adaptive market hypothesis are promising regarding development of a falsifiable theory of price formation in financial markets, but are far from giving assurance that we are approaching a new formulation. The most that can be done in the meantime is to be very cautious while interpreting the empirical evidence that is presented as “testing” the EMH.","PeriodicalId":30016,"journal":{"name":"Financial Theory and Practice","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2012-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81146254","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 14
Multiple finances, margins of foreign direct investment and aggregate industry productivity 多元金融、外国直接投资利润率和产业总生产率
Financial Theory and Practice Pub Date : 2012-03-13 DOI: 10.3326/FINTP.36.1.1
Lei Hou, Jiarui Zhang
{"title":"Multiple finances, margins of foreign direct investment and aggregate industry productivity","authors":"Lei Hou, Jiarui Zhang","doi":"10.3326/FINTP.36.1.1","DOIUrl":"https://doi.org/10.3326/FINTP.36.1.1","url":null,"abstract":"Based on a heterogeneous firm set-up, we model firms’ access to the internal capital market, bank finance as well as bond finance and investigate how firms’ adjustment among multiple sources of finance affects their performance in foreign direct investment and aggregate industry productivity. We find that when facing a bank credit shock (e.g. tighter bank lending), firms with different productivities react differently. Less productive firms exit from the foreign market due to a lack of funds while the more productive resort to bond finance to sustain their multinational status. The increased demand for bond finance as compensation for decreased bank finance by the surviving multinationals exacerbates the competition in the bond market and bids up the bond return rate, which triggers a Melitz-type selection effect through the bond market and brings aggregate industry gains. However, the divestment of those failing FDI firms and the consequently reduced bond financing demand mitigate this effect.","PeriodicalId":30016,"journal":{"name":"Financial Theory and Practice","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2012-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89171801","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Concentration of ownership and corporate performance: evidence from the Zagreb Stock Exchange 股权集中度与公司绩效:来自萨格勒布证券交易所的证据
Financial Theory and Practice Pub Date : 2012-03-13 DOI: 10.3326/FINTP.36.1.2
Alen Dzanic
{"title":"Concentration of ownership and corporate performance: evidence from the Zagreb Stock Exchange","authors":"Alen Dzanic","doi":"10.3326/FINTP.36.1.2","DOIUrl":"https://doi.org/10.3326/FINTP.36.1.2","url":null,"abstract":"This study examines the relationship between ownership structure and firm performance using a sample of firms listed on the Zagreb Stock Exchange in period 2003-2009. The results obtained using a panel estimation with fixed effects show a significant negative relationship between the existence of a block holder owning more than 30% of the equity and the value of the firm’s Tobin’s Q. However, if there is a family-type second block holder, the effect disappears. Further, the study gives evidence of the negative impact of the fraction of equity owned by management on labor efficiency confirming the quiet-life hypothesis from Bertrand and Mullainathan (2003). Finally, it is shown that foreign ownership is not significantly better than domestic.","PeriodicalId":30016,"journal":{"name":"Financial Theory and Practice","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2012-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83862973","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 17
The basics of public debt management (Osnove upravljanja javnim dugom) / Anto Bajo, Marko Primorac, Ana Andabaka Badurina. Zagreb: Institute of Public Finance, 2011.
Financial Theory and Practice Pub Date : 2012-03-13 DOI: 10.3326/FINTP.36.5
Marin Šulentić
{"title":"The basics of public debt management (Osnove upravljanja javnim dugom) / Anto Bajo, Marko Primorac, Ana Andabaka Badurina. Zagreb: Institute of Public Finance, 2011.","authors":"Marin Šulentić","doi":"10.3326/FINTP.36.5","DOIUrl":"https://doi.org/10.3326/FINTP.36.5","url":null,"abstract":"","PeriodicalId":30016,"journal":{"name":"Financial Theory and Practice","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2012-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88484471","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信