Journal of Comparative Economics最新文献

The impact of black economic empowerment on the performance of listed firms in South Africa 黑人经济赋权对南非上市公司绩效的影响

IF 2.8 2区经济学

Journal of Comparative Economics Pub Date : 2025-04-22 DOI: 10.1016/j.jce.2025.04.004

Matthias Busse , Nina Kupzig , Tim Vogel

{"title":"The impact of black economic empowerment on the performance of listed firms in South Africa","authors":"Matthias Busse , Nina Kupzig , Tim Vogel","doi":"10.1016/j.jce.2025.04.004","DOIUrl":"10.1016/j.jce.2025.04.004","url":null,"abstract":"<div><div>Black Economic Empowerment (BEE) is a policy that aims to empower previously disadvantaged individuals and decrease racial economic inequality in South Africa. As the program puts reformation pressure on firms, it might strongly influence firm performance. This article examines how BEE affects turnover, profits, and labour productivity of firms listed on the Johannesburg Stock Exchange (JSE). We use an extensive dataset covering a major share of listed firms between 2004 and 2019. The analysis employs fixed-effects regressions and the system GMM approach to account for endogeneity. Subsample analyses are used to account for heterogeneity in BEE scores. Overall, we find that BEE tends to have a small positive impact on firms’ turnover, a positive but not robust impact on labour productivity, and no impact on profits. Larger JSE-listed firms drive the positive effect on turnover. We conclude that BEE had a slightly positive effect on large JSE firms in the best case but also did not harm JSE firms in the worst case. To increase the benefits of BEE, we propose that the policy should be further adapted to reduce the cost of compliance and focus on areas that enhance structural change in South African companies, like skills development.</div></div>","PeriodicalId":48183,"journal":{"name":"Journal of Comparative Economics","volume":"53 2","pages":"Pages 373-388"},"PeriodicalIF":2.8,"publicationDate":"2025-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144138577","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The growth consequences of socialism 社会主义发展的结果

IF 2.8 2区经济学

Journal of Comparative Economics Pub Date : 2025-04-18 DOI: 10.1016/j.jce.2025.04.003

Andreas Bergh , Christian Bjørnskov , Luděk Kouba

引用次数: 0

Understanding trends in Chinese skill premiums, 2007–2018 了解2007-2018年中国技能溢价的趋势

IF 2.8 2区经济学

Journal of Comparative Economics Pub Date : 2025-04-18 DOI: 10.1016/j.jce.2025.04.001

Eric A. Hanushek , Yuan Wang , Lei Zhang

引用次数: 0

Slavery and collectivism in the postbellum American South 战后美国南方的奴隶制和集体主义

IF 2.8 2区经济学

Journal of Comparative Economics Pub Date : 2025-04-15 DOI: 10.1016/j.jce.2025.03.006

Yeonha Jung

引用次数: 0

Intergenerational effects of parental human capital on children: Evidence from Malawi 父母人力资本对儿童的代际影响：来自马拉维的证据

IF 2.8 2区经济学

Journal of Comparative Economics Pub Date : 2025-04-10 DOI: 10.1016/j.jce.2025.03.001

Youjin Hahn , Minji Kwak , Hyelim Son

引用次数: 0

The shadow of slavery on industrial innovation: Evidence from the US South 奴隶制对工业创新的影响：来自美国南方的证据

IF 2.8 2区经济学

Journal of Comparative Economics Pub Date : 2025-04-09 DOI: 10.1016/j.jce.2025.03.003

Yeonha Jung , Chungeun Yoon

引用次数: 0

The impact of rainfall on productivity: Implications for Chinese manufacturing 降雨对生产率的影响：对中国制造业的启示

IF 2.8 2区经济学

Journal of Comparative Economics Pub Date : 2025-04-03 DOI: 10.1016/j.jce.2025.03.005

Xiaodong Chen , Yatang Lin , Pengyu Zhu

{"title":"The impact of rainfall on productivity: Implications for Chinese manufacturing","authors":"Xiaodong Chen , Yatang Lin , Pengyu Zhu","doi":"10.1016/j.jce.2025.03.005","DOIUrl":"10.1016/j.jce.2025.03.005","url":null,"abstract":"<div><div>Rainfall affects productivity in many ways. Compared to temperature anomalies, the impacts of precipitation anomalies have been understudied, with existing evidence at the macro level. By combining ground station-level climate data and micro-data from half a million manufacturing firms in China, we uncover that rainfall negatively impacts firms’ productivity, with the most significant negative impacts concentrated in extremely heavy rainfall anomalies. Labor-intensive, low-tech, or less productive firms and those located in rainy regions are vulnerable to rainfall extremes. Our estimates are large enough to explain previously observed output losses in cross-country panels. We uncover three primary channels through which manufacturing firms experience productivity loss: reduction in labor, agriculture intermediate inputs and transportation disruptions. We also identify several margins of adaptation. Utilizing the Shared Socioeconomic Pathways Scenarios (SSPs), we estimate the future impact of rainfall on productivity in a cost-benefit analysis. Our projections indicate a substantial output loss of 2.4–14.9 billion CNY by 2100, due to the increase in extreme rainfall events under each scenario with different implementation of environmental policies.</div></div>","PeriodicalId":48183,"journal":{"name":"Journal of Comparative Economics","volume":"53 2","pages":"Pages 389-411"},"PeriodicalIF":2.8,"publicationDate":"2025-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144138578","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Getting back a level playing field under state-guided market economy: Evidence from quake donations by non-state-controlled companies in China 在国家引导的市场经济下恢复公平竞争：来自中国非国有企业地震捐款的证据

IF 2.8 2区经济学

Journal of Comparative Economics Pub Date : 2025-03-28 DOI: 10.1016/j.jce.2025.03.004

Julan Du , Yi Lu , Zhigang Tao , Yan Zhang

{"title":"Getting back a level playing field under state-guided market economy: Evidence from quake donations by non-state-controlled companies in China","authors":"Julan Du , Yi Lu , Zhigang Tao , Yan Zhang","doi":"10.1016/j.jce.2025.03.004","DOIUrl":"10.1016/j.jce.2025.03.004","url":null,"abstract":"<div><div>The rise of state-guided market economy is a striking development in the world economy, and China is one leading example. Under China's state-guided market economy, non-state-controlled corporations typically face discrimination in business operations, and have adopted the strategy of making donations to government-favored causes to capture the government, win governments’ trust and retrieve a level playing field. With an event study of corporate donations to Wenchuan earthquake relief campaign in 2008, we detect strong and positive market reactions to non-state-controlled donor firms, especially those ex-ante low-efficiency firms operating in regions with a high degree of government intervention, where the ownership-based discrimination is particularly severe and donations can be especially effective in redressing discriminatory treatments. Donor firms also display improvements in long-term performance indicators, which suggests an expansion of business opportunities. We also show that this strategy is fundamentally different from corruption (bribing bureaucrats), and also argue that it differs from corporate political or campaign contributions in mature democracies.</div></div>","PeriodicalId":48183,"journal":{"name":"Journal of Comparative Economics","volume":"53 2","pages":"Pages 559-583"},"PeriodicalIF":2.8,"publicationDate":"2025-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144138897","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Gender equality in Asia and Europe during the 20th century: The role of socialism 20世纪亚洲和欧洲的性别平等：社会主义的作用

IF 2.8 2区经济学

Journal of Comparative Economics Pub Date : 2025-03-20 DOI: 10.1016/j.jce.2025.03.002

Sophia Jung, Jörg Baten

引用次数: 0

The effects of rainfall shocks on divorce requests: Evidence from Colonial Senegal 降雨冲击对离婚请求的影响：来自塞内加尔殖民地的证据

IF 2.8 2区经济学

Journal of Comparative Economics Pub Date : 2025-03-11 DOI: 10.1016/j.jce.2025.02.004

Karine Marazyan

{"title":"The effects of rainfall shocks on divorce requests: Evidence from Colonial Senegal","authors":"Karine Marazyan","doi":"10.1016/j.jce.2025.02.004","DOIUrl":"10.1016/j.jce.2025.02.004","url":null,"abstract":"<div><div>This paper examines the impact of rainfall variations, as a proxy for agricultural income changes, on divorce requests in colonial Senegal, utilising judicial records from native courts during the period 1906–1922. A major finding is that negative precipitation shocks during the third quarter, which coincides with the growing season of the majority of crops cultivated in Senegal, result in an increase in the number of requests for divorce brought before courts in the following year. The impact appears to be concentrated in specific regions of Senegal and during a period when the agricultural income of farmers may be particularly susceptible to fluctuations in precipitation. The rise in marital dissolution can be attributed to an increase in intra-household conflicts over reduced resource allocation. In the context under consideration, the bride price frequently paid on the occasion of marriage may be viewed by husbands as a transferable asset which they may wish to recuperate by pressuring their wives into filing for divorce. This may serve to exacerbate the issue. This study contributes to the economic history literature by utilising unique colonial court records to document family dynamics in interaction with the economic environment.</div></div>","PeriodicalId":48183,"journal":{"name":"Journal of Comparative Economics","volume":"53 2","pages":"Pages 317-344"},"PeriodicalIF":2.8,"publicationDate":"2025-03-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144138729","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0