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Book part
Publication date: 19 February 2020

Samuel Demeulemeester

This chapter discusses the “seigniorage argument” in favor of public money issuance, according to which public finances could be improved if the state more fully exercised the…

Abstract

This chapter discusses the “seigniorage argument” in favor of public money issuance, according to which public finances could be improved if the state more fully exercised the privilege of money creation, which is, today, largely shared with private banks. This point was made in the 1930s by several proponents of the “100% money” reform scheme, such as Henry Simons of the University of Chicago, Lauchlin Currie of Harvard and Irving Fisher of Yale, who called for a full-reserve requirement in lawful money behind checking deposits. One of their claims was that, by returning all seigniorage profit to the state, such reform would allow a significant reduction of the national debt. In academic debates, however, following a criticism first made by Albert G. Hart of the University of Chicago in 1935, this argument has generally been discarded as wholly illusory. Hart argued that, because the state, under a 100% system, would be likely to pay the banks a subsidy for managing checking accounts, no substantial debt reduction could possibly be expected to follow. The 100% money proponents never answered Hart’s criticism, whose conclusion has often been considered as definitive in the literature. However, a detailed study of the subject reveals that Hart’s analysis itself appears to be questionable on at least two grounds: the first pertains to the sources of the seigniorage benefit, the other to its distribution. This chapter concludes that the “seigniorage argument” of the 100% money authors may not have been entirely unfounded.

Details

Research in the History of Economic Thought and Methodology: Including a Symposium on Public Finance in the History of Economic Thought
Type: Book
ISBN: 978-1-83867-699-5

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Abstract

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The Theory of Monetary Aggregation
Type: Book
ISBN: 978-0-44450-119-6

Abstract

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Research on Professional Responsibility and Ethics in Accounting
Type: Book
ISBN: 978-0-76231-393-8

Book part
Publication date: 26 August 2019

Kimberly Elliot, Nancy Frey and Douglas Fisher

Purpose – The purpose of this study is to articulate the relationship between school leadership and quality core instruction, as defined by a gradual release of responsibility…

Abstract

Purpose – The purpose of this study is to articulate the relationship between school leadership and quality core instruction, as defined by a gradual release of responsibility (GRR) framework. The development of a common vocabulary for quality instruction is essential for leaders and teachers to communicate effectively.

Design/Methodology/Approach – This chapter uses vignettes developed from previous studies to illustrate the use of GRR in principal development, instructional leadership in schools, and in professional learning for teachers.

Findings – Instructional leadership in action is enhanced when adults experience GRR as learners themselves. The authors use illustrative examples to highlight how GRR is leveraged to enhance learning.

Research Limitations/Implications – The authors use vignettes to highlight effective practices and believe that they have utility for other programs aimed at preparing instructional leaders.

Practical Implications – GRR principles should be enacted within adult learning, particularly in leadership preparation programs, and in school-based collaborative inquiry processes such as learning walks and professional learning communities.

Originality/Value of Chapter – The authors utilize our experiences as researchers and school leaders to articulate the bridge between leadership development and leadership in practice using GRR as the constant.

Details

The Gradual Release of Responsibility in Literacy Research and Practice
Type: Book
ISBN: 978-1-78769-447-7

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Book part
Publication date: 3 November 2017

Nancy Frey and Douglas Fisher

To identify actions, teachers and school leaders can take to ensure equity in terms of opportunities to learn literacy. We reviewed the professional literature in four major…

Abstract

To identify actions, teachers and school leaders can take to ensure equity in terms of opportunities to learn literacy. We reviewed the professional literature in four major areas, including opportunity to learn (OTL), student mobility and its impact on learning, grade-level retention and its impact on equity and future success, and systems that can provide students access to complex text. We note the value of each of these four constructs (OTL, mobility, retention, and access to complex texts) in ensuring that schools become increasingly equitable such that all students develop as literate members of society. We provide classroom and school-based examples for readers to consider as they work toward equity. Far too many schools are inequitable and some students fail to develop their literate lives. We provide ideas and actions that teachers and school teams can take to ensure that diverse students have the best chance possible to learn.

Details

Addressing Diversity in Literacy Instruction
Type: Book
ISBN: 978-1-78714-048-6

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Article
Publication date: 30 November 2006

Keith R. Fisher

This article addresses certain competition‐related issues that parties to a trans‐national merger and acquisition (M&A) transaction must face, preferably during the strategic…

Abstract

This article addresses certain competition‐related issues that parties to a trans‐national merger and acquisition (M&A) transaction must face, preferably during the strategic planning phase. The ultimate focus will be on the suitability vel non of the World Trade Organization (WTO) serving, as has been proposed by some scholars and political bodies, as a form of supranational competition law authority with respect to merger clearance. The conclusion reached is that the WTO is institutionally ill‐suited for such a role but can, nonetheless, perform a useful albeit considerably more modest function as an enforcer of several purely procedural reforms suggested herein.

Details

Journal of International Trade Law and Policy, vol. 5 no. 2
Type: Research Article
ISSN: 1477-0024

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Book part
Publication date: 18 January 2023

Wilfred W. H. Cheng, Chee Yeow Lim and Katherine C. K. Yuen

This study investigates the effect of honesty reminders on budgetary slack. Based on self-concept maintenance theory, the authors posit that honesty reminders can reduce budgetary…

Abstract

This study investigates the effect of honesty reminders on budgetary slack. Based on self-concept maintenance theory, the authors posit that honesty reminders can reduce budgetary slack by making people more aware of their own standards of honesty, resulting in more honest behavior. Using an experimental research design, the authors find evidence that honesty reminders reduce budgetary slack. The authors also find that although penalties can similarly reduce budgetary slack, they tend to cause distrust and resentment from subordinates. Therefore, honesty reminders may be a less costly method than penalties for reducing budgetary slack.

Article
Publication date: 2 August 2011

Maktoba Omar and Marc Porter

The purpose of this paper is to investigate empirically the influence of six key contextual determinants upon the degree of standardization for firms who enter a new market…

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Abstract

Purpose

The purpose of this paper is to investigate empirically the influence of six key contextual determinants upon the degree of standardization for firms who enter a new market directly. In the context of international business market entry, much research emphasis has been placed upon the issues of standardization versus modification. Generally, however, this research focuses on promotion and advertising.

Design/methodology/approach

This paper investigates the research variables that influence standardization/modification decisions in a framework comprising “firm or company context” and “host country context”. The research, undertaken with a sample of 700 UK‐based for‐profit organizations, adapts and further develops Hofstede's study.

Findings

It identifies that the elements of competition and political risk are negatively significant in relation to the degree of standardization. In addition, economic development and international experience are positively significant in relation to the degree of standardization. Firm size and culture differences have no impact upon the degree of standardization.

Research limitations/implications

Research is only conducted among British companies operating cross border.

Originality/value

This paper's originality is in providing specific types of elements as risk reducers in a firm's market entry strategy.

Details

Competitiveness Review: An International Business Journal, vol. 21 no. 4
Type: Research Article
ISSN: 1059-5422

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Book part
Publication date: 31 August 2001

Eugene Kroch, Raj Shah, Douglas Fisher, Evan Loh and J. Sanford Schwartz

This investigation focuses on patients hospitalized with congestive heart failure (CHF) to evaluate the effects of insurance status on resource utilization (costs and procedure…

Abstract

This investigation focuses on patients hospitalized with congestive heart failure (CHF) to evaluate the effects of insurance status on resource utilization (costs and procedure intensity), and the process of inpatient care (length of stay). Data include hospital discharge claims from fourteen states across the U.S. for 88,000 primary and another 135,000 secondary CHF patients under age 65. Risk adjustment methods control for clinical, demographic, and risk selection factors in order to isolate the effects of insurance status on the variables of interest.Results indicate that insurance status significantly affects the type and intensity of care. Lengths of stay are shortest for privately managed patients and longest for patient in public programs. Nonetheless access to high intensity treatment procedures favors private payors, especially those covered by indemnity plans. Overall hospitalization and treatment costs are less sensitive to payor status than length of stay and appear to be driven by high intensity procedure utilization. The marginal effects of CHF are substantial, raising length of stay and treatment cost by up to 40% and reinforcing the insurance status effect on length of stay and utilization found in patients hospitalized with CHF as a primary diagnosis. Despite these process-of-care differences, no significant inpatient mortality/morbidity differences were ascertained in either the primary or secondary analyses.

Details

Investing in Health: The Social and Economic Benefits of Health Care Innovation
Type: Book
ISBN: 978-1-84950-070-8

Article
Publication date: 10 May 2018

Sulait Tumwine, Samuel Sejjaaka, Edward Bbaale and Nixon Kamukama

The purpose of this paper is to investigate the effect of bank specific factors on interest rate in banking financial institutions (BFIs) of Uganda.

Abstract

Purpose

The purpose of this paper is to investigate the effect of bank specific factors on interest rate in banking financial institutions (BFIs) of Uganda.

Design/methodology/approach

To analyze the effect, an OLS random effects regression estimate on a data set of 24 banks from 2008 to 2016 from Bank of Uganda Depository Corporation survey was carried out. Studied bank specific factors including liquidity, operational efficiency, credit risk, capitalization and lending ratio are considered.

Findings

The results indicate that liquidity, operational efficiency, capitalization and lending out ratio affect the interest rate while credit risk does not.

Research limitations/implications

The study has confirmed that bank specific factors influence interest rate and other factors such as industry-level and indirect macroeconomic indicators need to be explored. The differences in categories of banks on interest rate would be of importance. Finally, this study concentrated on banks in Uganda, future study would focus on the comparison of Ugandan banks with those of other countries in the East African Region.

Practical implications

Bank managers should invest in up-to-date technology to reduce operational costs and improve efficiency. Managers of bank should take interest on equity mobilization, because it constitutes a cheaper source of capital to finance asset used in operations and long-term needs of borrowers financing. Government should consider a legislation that provides incentives toward savings and reduction in tax for bank inputs.

Originality/value

This is the first study that investigates the effect of bank specific factors on interest rate in Uganda’s BFIs.

Details

World Journal of Entrepreneurship, Management and Sustainable Development, vol. 14 no. 2
Type: Research Article
ISSN: 2042-5961

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