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Open Access
Article
Publication date: 15 July 2022

Stephen Gong, Liwei Shan and Li Yu

To examine whether and how the different levels of regional economic incentives would have an effect on underwriters' market share in general.

Abstract

Purpose

To examine whether and how the different levels of regional economic incentives would have an effect on underwriters' market share in general.

Design/methodology/approach

Drawing on Chinese IPO firms during the period 2006-2016, this study examines the impact of different levels of regional economic incentives on underwriters' market share.

Findings

The authors find that regional economic incentives have a positive impact on underwriters' market share and that local economic incentives have a significantly stronger impact than central economic incentives. Furthermore, the authors find that IPO firms with underwriters driven by regional economic incentives experience worse post-IPO performance than firms with underwriters driven by central economic incentives, which do not experience a significant decline in post-IPO performance.

Originality/value

Taken together, the authors’ findings are consistent with the notion that performance assessment motivates officials at various levels of government to bring companies in their jurisdiction to the IPO market prematurely. In addition, the results indicate that central economic incentives play a significant role in driving China's macroeconomic development and market-oriented system reforms. As such, they are one of the major driving forces behind China's market-oriented system reforms.

Details

China Accounting and Finance Review, vol. 24 no. 4
Type: Research Article
ISSN: 1029-807X

Keywords

Open Access
Article
Publication date: 18 February 2022

Tasnim Murad Mamun and Sajib Chowdhury

Status of fiscal health of local governments helps in determining planned budget and realistic action plan for citizens’ wellbeing. This paper aims to assess the fiscal health of…

1967

Abstract

Purpose

Status of fiscal health of local governments helps in determining planned budget and realistic action plan for citizens’ wellbeing. This paper aims to assess the fiscal health of local governments in Bangladesh.

Design/methodology

Using data from 18 south-western municipalities of Bangladesh during the fiscal year 2018–19, this research measures fiscal health by applying Wang, Dennis and Tu’s solvency test and Brown’s Ten-Point Test.

Findings

The result shows that one-tenth of the entire municipalities are endowed with better position, whereas almost 39 percent of municipalities are in the worst situation and nearly 50 percent of municipalities are in the average category. Because of having limited liabilities, the municipalities are endowed with more than enough cash solvency and reasonable level of long-run solvency. The key problems are that budgetary solvency of all municipalities is not satisfactory, and service expenses are more than their revenue generation. This study suggests improving the financial capabilities of the municipalities through properly using their resources, generating loans, and claiming a need-based budget from the central government.

Originality

The paper investigates the status of fiscal solvency of local governments in Bangladesh in a new dimension. The findings might be helpful to policymakers in budgeting for development initiatives of local governments in Bangladesh so that citizens’ better wellbeing is ensured.

Details

Public Administration and Policy, vol. 25 no. 1
Type: Research Article
ISSN: 1727-2645

Keywords

Open Access
Article
Publication date: 13 December 2019

Shiyi Chen and Wang Li

With China’s economic growth slowing down and the growth rate of fiscal revenue decreasing, the pressure on local government debts is further increasing. Under this background, it…

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Abstract

Purpose

With China’s economic growth slowing down and the growth rate of fiscal revenue decreasing, the pressure on local government debts is further increasing. Under this background, it is of great significance to clarify the relation between local government debts and China’s economic growth in order to give full play to the positive role of local debts in stabling growth. The paper aims to discuss this issue.

Design/methodology/approach

Therefore, this paper explores the impact of Chinese local government debt on economic growth from theoretical and empirical aspects, respectively, and compares the regional differences between different debts and economic growth dynamics.

Findings

In the theoretical model part, this paper constructs a three-sector dynamic game model, under the two circumstances of whether local government is subject to debt constraints, and examines the relation between local government debt and economic growth and other variables through numerical simulation. Research shows that when the government is not constrained by debt, there is an inverted “U” relation between government debt and economic growth. When the government is constrained by debt, the economic growth rate gradually decreases as the government debt increases.

Originality/value

In the theoretical analysis part, this paper tries to estimate the amount of local debts under different calibers and examines the impact of different types of local government debts on China’s economic growth and their regional differences. The results show that excessive accumulation of government hidden debts in the eastern region is not conducive to economic growth, while explicit debts in the central and western regions significantly contribute to local economic growth. The results of empirical analysis are basically consistent with the predictions of the theoretical model.

Details

China Political Economy, vol. 2 no. 2
Type: Research Article
ISSN: 2516-1652

Keywords

Open Access
Article
Publication date: 28 July 2020

Ge Yang and Shutian Cen

Over the past 20 years, China's infrastructure has developed at an extraordinary speed. The current literature mainly focuses on the effects of political incentives on the…

Abstract

Purpose

Over the past 20 years, China's infrastructure has developed at an extraordinary speed. The current literature mainly focuses on the effects of political incentives on the infrastructure. However, this paper indicates that the structural change of China's land regime is an important clue and that the supernormal development of China's infrastructure is an explicable result for that.

Design/methodology/approach

This paper theoretically proves that in a politically centralized and economically decentralized economic entity with a public land-ownership regime, the self-financing mechanism formed by local officials through regulation of the land-grant price is the primary factor that influences the optimal supply volume of infrastructure in a region, in addition to political and economic incentives, and whether the self-financing mechanism can be formed or not depends on the structure of a country's land regime, which can help to explain the difference between the development of infrastructure in China and that in other developing countries from a theoretical angle.

Findings

The paper suggests that the mode is facing an important transformation toward land reform and new-type urbanization construction, and the replication and promotion of China's experience in infrastructure construction are of further significance under the Belt and Road Initiative as it provides a method for helping developing countries to eliminate infrastructure bottlenecks.

Originality/value

Through the test of multinational panel data, the paper indicates that the structural change of China's land regime around 1990 had an overall effect on the supernormal development of infrastructure in China. The paper indicates that the “land-based development mode” of China's infrastructure indeed contributed to the supernormal development of infrastructure in China, but there are still some shortcomings in this mode.

Details

China Political Economy, vol. 3 no. 1
Type: Research Article
ISSN: 2516-1652

Keywords

Open Access
Article
Publication date: 17 October 2023

Wilfred Uronu Lameck

This paper analyses the degree of political decentralisation and its relation to the local councils in Tanzania. It explores the institutional and political set-up of the local

Abstract

Purpose

This paper analyses the degree of political decentralisation and its relation to the local councils in Tanzania. It explores the institutional and political set-up of the local councils originating from the degree of political decentralisation and how it influences the tension between the bureaucrats and local politicians.

Design/methodology/approach

Qualitative approach by a comparative case study is adopted to investigate the phenomenon in two local governments in Tanzania. The data were collected through interviews with 37 senior local government officials and eight focus group discussions with 48 administrators and councillors.

Findings

The findings indicate that the two local governments are subjected to a similar political system guided by similar rules and guidelines from the central government bureaucracy for implementing the party manifesto and central government priorities. Thus, the local politicians have little room for negotiation in adopting local agenda to reflect the preferences of the local community. Any attempt to challenge this status quo creates political tensions between bureaucrats and the administrators.

Originality/value

The findings provide invaluable insights to different stakeholders such as political scientists, government officials, and policymakers with interests in research or practice of political decentralization and political-administrative relation.

Details

Public Administration and Policy, vol. 26 no. 3
Type: Research Article
ISSN: 1727-2645

Keywords

Open Access
Article
Publication date: 25 April 2023

Redeemer Krah and Gerard Mertens

The study investigates the influence of financial transparency on citizens' trust and revenue paying behaviour of citizens of local governments in sub-Saharan Africa. It relies on…

2050

Abstract

Purpose

The study investigates the influence of financial transparency on citizens' trust and revenue paying behaviour of citizens of local governments in sub-Saharan Africa. It relies on the theories of stewardship and public choice in explaining the relationship between financial transparency, trust and willingness to pay.

Design/methodology/approach

The study applied a Partial Least Square Structural Equation Model (PLS-SEM) to survey data of 404 respondents selected from four Metropolitan and Municipal Assemblies of Ghana to test the hypotheses of the study.

Findings

It establishes the fact that financial transparency positively influences trust of citizens in local government and their willingness to pay taxes and levies. The study also found that both financial transparency and trust are low in the local governments of Ghana.

Practical implications

The study emphasises the importance of financial transparency in improving trust and willingness to pay. Thus, local governments are encouraged to seek innovative ways to enhance the quality and access to financial information by the citizens.

Originality/value

While prior studies focus on the measurement and determinant of financial transparency, this study links financial transparency to revenue mobilisation in the local government of sub-Saharan Africa.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 35 no. 6
Type: Research Article
ISSN: 1096-3367

Keywords

Open Access
Article
Publication date: 17 August 2020

Keshav Kumar Acharya and Habib Zafarullah

The purpose of this paper is to explore how local government bodies in Nepal are empowered to play their constitutional roles and engage in activities to deliver public services…

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Abstract

Purpose

The purpose of this paper is to explore how local government bodies in Nepal are empowered to play their constitutional roles and engage in activities to deliver public services at the doorsteps of the people effectively. The focus is on the institutionalisation of federalism, its implications for local governance, and capacity development of local authorities.

Design/methodology/approach

Ideas of decentralisation, governance and public management have been used to interpret findings based on qualitative research methods by key informant interviews, focus group discussions and personal observations conducted in five selected municipalities in Nepal.

Findings

The process of operationalising the power of local government bodies is more conventional and hierarchic. At the same time, the formulation and implementation of inclusive plans and budgeting are confined with certain formalities that do not necessarily allow citizens the space for voices. Federal government grants constrain fiscal jurisdiction and control over resource mobilisation. The mere preparation and administration of local government legislation and relevant by-laws have weakened the capacity of local government bodies.

Originality/value

From interpretation of first-hand data, this paper has identified the pitfalls of the federalisation process, the constraints deter the devolution of power to local bodies as well as the transformation of local governments into autonomous institutions in Nepal.

Details

Public Administration and Policy, vol. 23 no. 2
Type: Research Article
ISSN: 1727-2645

Keywords

Open Access
Article
Publication date: 4 September 2019

Wahyudin Nor, Muhammad Hudaya and Rifqi Novriyandana

The purpose of this paper is to examine the extent to which audit opinion, audit findings, follow-up audit recommendations, level of education, level of welfare and heads of local

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Abstract

Purpose

The purpose of this paper is to examine the extent to which audit opinion, audit findings, follow-up audit recommendations, level of education, level of welfare and heads of local governments’ commitment influence the disclosure of financial statements on the official website of local government.

Design/methodology/approach

The data of this research comprise 68 financial statements during the period 2015–2016 collected from 34 local governments across Indonesia by employing the census method. The data then are analyzed using logistic regression.

Findings

The results of this study show that audit opinion has a positive significant influence on the disclosure of financial statements on local government websites in Indonesia, while the audit findings, follow-up audit recommendations, level of education, level of welfare and heads of local governments’ commitment have no significant influences on the disclosure of financial statements local governments’ websites across Indonesia.

Originality/value

The study contributes to the public sector accounting research by enhancing our understanding to the disclosure of financial statements on local government websites.

Details

Asian Journal of Accounting Research, vol. 4 no. 1
Type: Research Article
ISSN: 2443-4175

Keywords

Open Access
Article
Publication date: 11 July 2016

Chamindi Malalgoda, Dilanthi Amaratunga and Richard Haigh

Although, a number of initiatives have been taken after the devastating Indian Ocean tsunami to institutionalise disaster risk reduction (DRR), gaps still exist in the Sri Lankan…

78810

Abstract

Purpose

Although, a number of initiatives have been taken after the devastating Indian Ocean tsunami to institutionalise disaster risk reduction (DRR), gaps still exist in the Sri Lankan local government sector. Even after ten years, local governments are still struggling to overcome a number of challenges in relation to making resilience in the built environment. DRR has not yet been properly integrated into the local government system and, as a result, poses a significant challenge. Accordingly, the purpose of this paper is to discover the hindrances for local governments in creating disaster resilient built environment within cities and to propose ways of overcoming the identified limitations.

Design/methodology/approach

In total, 15 semi-structured interviews were conducted among experts from Sri Lanka who are involved in disaster management, local governments and built environment fields of study. The interviews were conducted with the intention of gaining expert knowledge pertaining to this field of study. The interviews were mainly designed to capture the current practices for instigating DRR initiatives within Sri Lanka, the role of local governments in creating a disaster resilient built environment and the associated challenges, and ways of overcoming such challenges to ensure an effective contribution to city resilience.

Findings

Primary data discovered 36 challenges along with some associated sub-challenges. The challenges were categorised under eight main themes: legal framework; lack of adequate tools, techniques and guidelines; human resource constraints; funding constraints; weaknesses in the internal systems and processes; weaknesses in the external systems; community engagement; and other challenges. The paper analyses these challenges in detail and proposes a set of recommendations to overcome the challenges in order to create disaster resilient built environments within cities.

Research limitations/implications

The paper provides a descriptive analysis of how the Sri Lankan local government sector could overcome the underpinning challenges of contributing to disaster resilience in the built environment and no comparative studies were conducted with in other tsunami affected regions. Furthermore, the paper analyses partial findings of a broader research, which was aimed at developing a framework to empower local governments in creating a disaster resilient built environment.

Originality/value

The paper provides an extensive analysis of the challenges faced by local governments in contributing to the resilience of their built environment and proposes how these challenges could be overcome while making a worthwhile contribution to both theory and practice. Accordingly, the paper recommends major changes in policy and practice with respect to bringing local governments into DRR.

Details

Disaster Prevention and Management: An International Journal, vol. 25 no. 5
Type: Research Article
ISSN: 0965-3562

Keywords

Open Access
Article
Publication date: 3 June 2019

Nasir Uddin

The traditional concept of people’s participation through their representatives is changing to the mechanism of direct participation of community people in the local governing…

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Abstract

Purpose

The traditional concept of people’s participation through their representatives is changing to the mechanism of direct participation of community people in the local governing process. In coupling with these, the Constitution of Bangladesh and the local government acts guarantee to foster the direct participation of people in the formation of local bodies and development programs. The purpose of this paper is to explore the avenues of people’s participation in local government, particularly the Union Parishad (UP) in Bangladesh, and to evaluate the empowerment of marginalized community through those avenues.

Design/methodology/approach

Using a broad descriptive and analytical approach, this paper evaluates the relationship between participation and empowerment of local community based on the review of secondary sources of information.

Findings

The local government institutions, particularly UP, has existed many mechanisms through which people participate in decision-making process. It is also believed that participation of community people in local government institutions is not only an opportunity for them but also an apparatus of empowerment. Hence, the process of empowerment is entrenched in the notion of participation. It is evident that the people at grass root level have been participating in UP in diverse arrangements, but the effectiveness of these participations in terms of empowerment is still meager and even lack.

Originality/value

Though a long time has passed after introducing these participatory mechanisms, very few studies have undertaken to assess the people’s participation in local government. Additionally, no single initiative was undertaken to assess how empowerment of marginalized people happened through these initiatives as empowering community people is the key objective of it.

Details

Public Administration and Policy, vol. 22 no. 1
Type: Research Article
ISSN: 1727-2645

Keywords

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