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Article
Publication date: 1 May 1987

1.1 What Are Accounts For? Overview The purpose of accounts is to reveal performance in the conduct of a business or other activity concerned with use of economic resources (e.g…

Abstract

1.1 What Are Accounts For? Overview The purpose of accounts is to reveal performance in the conduct of a business or other activity concerned with use of economic resources (e.g. a club). It is thus a matter of stewardship. Although, like economics, it is necessary in accounting to use money as a measure of performance, it is concerned with the individual organisation rather than with economic phenomena as a whole.

Details

Management Decision, vol. 25 no. 5
Type: Research Article
ISSN: 0025-1747

Abstract

Details

Economic Growth and Social Welfare: Operationalising Normative Social Choice Theory
Type: Book
ISBN: 978-0-44451-565-0

Book part
Publication date: 19 July 2007

Gerben Bakker

At the end of the nineteenth century, in the era of the second industrial revolution, falling working hours, rising disposable income, increasing urbanisation, rapidly expanding…

Abstract

At the end of the nineteenth century, in the era of the second industrial revolution, falling working hours, rising disposable income, increasing urbanisation, rapidly expanding transport networks and strong population growth resulted in a sharp rise in the demand for entertainment. Initially, the expenditure was spread across different categories, such as live entertainment, sports, music, bowling alleys or skating rinks. One of these categories was cinematographic entertainment, a new service, based on a new technology. Initially it seemed not more than a fad, a novelty shown at fairs, but it quickly emerged as the dominant form of popular entertainment. This paper argues that the take-off of cinema was largely demand-driven, and that, in an evolutionary process, consumers allocated more and more expenditure to cinema. It will analyse how consumer habits and practices evolved with the new cinema technology and led to the formation of a new product/service.

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The Evolution of Consumption: Theories and Practices
Type: Book
ISBN: 978-0-7623-1452-2

Article
Publication date: 1 March 1994

Andrew M. McLaughlin and Jeremy. J. Richardson

Budgetary reform in the UK since the International Monetary Fund (IMF) intervention under a Labour government in 1976 has been prompted by a new conventional wisdom that public…

Abstract

Budgetary reform in the UK since the International Monetary Fund (IMF) intervention under a Labour government in 1976 has been prompted by a new conventional wisdom that public expenditure was too high, and consequently, "crowded out" private sector investment. Although this belief became widespread in western democracies, in Britain it developed relatively early and was closely linked to the wider debate about Britain's relative economic decline. The first section of this article reviews the main reforms of the budgetary process which these concerns prompted.

In the second section we note that, despite the political concern with reducing public expenditure in the 1980s, success has been limited and priority is now the improvement of the underlying control and evaluation mechanisms in government spending. In practice, the main policy activity of the Thatcher administrations was on gaining "value for money" from existing expenditure. These developments are discussed and the likelihood of success considered. The nature of the present annual budgetary cycle is described as are the most recent developments designed to finally gain some form of effective expenditure control.

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Journal of Public Budgeting, Accounting & Financial Management, vol. 6 no. 1
Type: Research Article
ISSN: 1096-3367

Article
Publication date: 1 June 2004

Chang‐Soo Kim and Lewis F. Davidson

This study uses the balanced scorecard(BSC) framework to assess the business performanceof information technology (IT) expenditures in the Korean banking industry. The…

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Abstract

This study uses the balanced scorecard(BSC) framework to assess the business performance of information technology (IT) expenditures in the Korean banking industry. The relationship between IT expenditures and bank’s financial performance or market share was significantly different depending upon the level of IT. For banks that maintain high IT level, IT expenditures appear to have (1) increased labor productivity, (2) decreased payroll expenses and increased operating and total administrative expenses, (3) increased market share, and (4) increased revenue and profit. The evidence suggests two important practical implications. First, if banks effectively use IT strategy to improve competitive advantage, they are likely to reduce payroll expenses and increase market share as well as profitability. Second, this study posits that bank managers should consider using a balanced scorecard approach to measure business performance of both IT and management strategies. Thus, evidence of this study provides guidance for achieving competitive advantage in the banking industry.

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Managerial Finance, vol. 30 no. 6
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 25 January 2011

Xianbo Zhou and Fengping Tian

The purpose of this paper is to present a nonparametric comparative study on the HCMS consumption of urban and rural households in China.

2072

Abstract

Purpose

The purpose of this paper is to present a nonparametric comparative study on the HCMS consumption of urban and rural households in China.

Design/methodology/approach

This paper applies the panel data for China's thirty provinces in 1991‐2007 as a sample and presents a local linear estimation to the nonparametric Working‐Leser panel data models on the HCMS consumption of the rural and urban households in China. The nonparametric Hausman test is applied to test the random effects specification against the fixed effects.

Findings

Both the parametric and nonparametric estimation of the Working‐Leser panel data models give us a similar result: that the HCMS commodity is quite elastic in both the rural and urban China. Nonparametric estimate also shows that the urban‐rural difference of the HCMS expenditure share in the total expenditure is mainly due to the large urban‐rural difference of total expenditure. Under the same total expenditure, the HCMS is more elastic in the urban than in the rural regions.

Practical implications

To decrease the urban‐rural difference in the HCMS consumption, the government should enhance the income or total expenditure level of the rural households, especially in the impoverished and remote areas in China. Urbanization plays a critical role in access to health care and can help make substantial changes in rural health care in China.

Originality/value

Compared to the parametric estimation, the nonparametric estimation gives us the added information that the expenditure elasticity of the HCMS consumption in China gradually declines as one moves up the per capita total expenditure distribution. The paper could make a contribution to the relatively thin literature on the Chinese medical and health consumption market.

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Journal of Economic Studies, vol. 38 no. 1
Type: Research Article
ISSN: 0144-3585

Keywords

Book part
Publication date: 20 March 2001

Abstract

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Edwin Seligman's Lectures on Public Finance, 1927/1928
Type: Book
ISBN: 978-1-84950-073-9

Book part
Publication date: 30 September 2020

Dmitry V. Didenko

This chapter sheds light on long-term trends in the level and structural dynamics of investments in Russian human capital formation from government, corporations, and households…

Abstract

This chapter sheds light on long-term trends in the level and structural dynamics of investments in Russian human capital formation from government, corporations, and households. It contributes to the literature discussing theoretical issues and empirical patterns of modernization, human development, as well as the transition from a centralized to a market economy. The empirical evidence is based on extensive utilization of the dataset introduced in Didenko, Földvári, and Van Leeuwen (2013). Our findings provide support for the view expressed in Gerschenkron (1962) that in late industrializers the government tended to substitute for the lack of capital and infrastructure by direct interventions. At least from the late nineteenth century the central government's and local authorities' budgets played the primary role. However, the role of nongovernment sources increased significantly since the mid-1950s, i.e., after the crucial breakthrough to an industrial society had been made. During the transition to a market economy in the 1990s and 2000s the level of government contributions decreased somewhat in education, and more significantly in research and development, but its share in overall financing expanded. In education corporate funds were largely replaced by those from households. In health care, Russia is characterized by an increasing share of out-of-pocket payments of households and slow development of organized forms of nonstate financing. These trends reinforce obstacles to Russia's future transition, as regards institutional change toward a more significant and sound role of the corporate sector in such branches as R&D, health care, and, to a lesser extent, education.

Details

Research in Economic History
Type: Book
ISBN: 978-1-83909-179-7

Keywords

Open Access
Article
Publication date: 23 December 2022

Ferdi Çelikay

Social spending is at the forefront of the tools used to repair the damage caused by the global epidemic. However, one of the most critical questions in recent days is as follows…

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Abstract

Purpose

Social spending is at the forefront of the tools used to repair the damage caused by the global epidemic. However, one of the most critical questions in recent days is as follows: what are the effects of social expenditures in eliminating unemployment? The primary purpose of this article is to provide empirical evidence on the impact of social spending on chronic unemployment in the selected organization for economic co-operation and development (OECD) countries.

Design/methodology/approach

In this study, the data of 30 selected OECD countries between 1991 and 2018 have been compiled. First, countries have been divided into four categories according to their spending intensity to determine the effects of social spending on the long-term unemployment rate. Then, the auto-regressive distributed lag (ARDL) approach and the error correction models (ECM) examine the variables' short- and long-term interactions.

Findings

The author found that the change in the share of social expenditures in GDP affects chronic unemployment similarly. This finding is consistent with the results of studies in the literature dealing with the relationship between public sector size and unemployment. However, the research findings are specifically about the effects of social expenditures on chronic unemployment. In this respect, the results reflect that expenditures with passive characteristics have an expansionary effect on long-term unemployment. In addition, the progressive effect of social expenditures on chronic unemployment is increasing in countries with high expenditure intensity. In countries with relatively low spending intensity, the impact of social spending is limited to the short run and is lower.

Originality/value

Multiple studies have reported that public policies developed in line with the incentives of active employment and public or private sector investments reduce the unemployment rate by positively affecting the output/employment level. This study, unlike other studies, focuses on the effects of social expenditures on chronic unemployment. It also compares the effects of social spending on the long-term unemployment rate for countries with varying spending intensities. Therefore, this article tests the impact of social expenditures used against a concrete socioeconomic problem in the OECD sample. In this respect, the findings contribute to the literature by addressing the relationship between social spending and chronic unemployment.

Details

Review of Economics and Political Science, vol. 8 no. 2
Type: Research Article
ISSN: 2356-9980

Keywords

Article
Publication date: 7 January 2022

Ahmed Hassanein, Jamal Ali Al-Khasawneh and Hany Elzahar

Corporate managers spend on research and development (R&D) for reasons of growth and survival. However, they may be less willing to invest in R&D because of its long-term horizon…

Abstract

Purpose

Corporate managers spend on research and development (R&D) for reasons of growth and survival. However, they may be less willing to invest in R&D because of its long-term horizon, high failure rate and uncertain outcomes. This study aims to explore the extent to which managerial ownership influences R&D expenditure decisions.

Design/methodology/approach

Apart from the linear regression models, this study uses a semi-parametric quantile regression analysis for a sample of German non-financial firms throughout 2009–2018.

Findings

This study finds a nonmonotonic sensitivity of R&D spending to the level of managerial ownership over various quantiles of R&D distribution. That is, managerial ownership increases the expenditure on R&D at low R&D intensity firms. However, it decreases the expenditure on R&D at high R&D intensity firms. These results suggest the presence of a maximum level of R&D expenditure, after which owner-managers would be unwilling to spend on R&D.

Practical implications

The results confirm the importance of corporate ownership structure for firm R&D and innovation activities. It provides an implication for corporate policymakers to reform the corporate ownership structures to encourage corporate managers and owners to invest in R&D projects.

Originality/value

This study offers two distinct contributions study. First, it provides the first German shred of evidence on the nonlinear relationship between managerial ownership and R&D expenditure decisions by distinguishing between high and low R&D intensity firms. Second, unlike prior research, it uses a semi-parametric quantile regression analysis. This method is more efficient than least-squares estimators and produces robust estimators to heteroscedasticity of the residuals.

Details

Journal of Financial Reporting and Accounting, vol. 21 no. 3
Type: Research Article
ISSN: 1985-2517

Keywords

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