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1 – 10 of 573Benny Hutahayan, Mohamad Fadli, Satria Amiputra Amimakmur and Reka Dewantara
This study aims to analyze the causes and implications of legal uncertainty in the issuance of conventional municipal bonds in Indonesia and to draw lessons from Vietnam’s…
Abstract
Purpose
This study aims to analyze the causes and implications of legal uncertainty in the issuance of conventional municipal bonds in Indonesia and to draw lessons from Vietnam’s approach in providing better legal certainty.
Design/methodology/approach
This study adopts a normative legal method with a legislative approach and applies a comparative approach. Data sources involve primary and secondary legal materials from both Indonesia and Vietnam.
Findings
The legal uncertainty is caused by a lack of coherence and consistency in legislation. Based on Vietnam’s experience, Indonesia can gain valuable insights related to providing strong legal certainty for parties involved in issuing or investing through conventional municipal bonds.
Research limitations/implications
This study focuses on the comparative legal analysis of conventional municipal bonds in Indonesia with Vietnam.
Practical implications
This research provides recommendations for the refinement of legislation regarding conventional municipal bonds to the government.
Social implications
This study is related to legal certainty as a strategy to attract investment through municipal bonds and to ensure the municipal bond issuance process is transparent and efficient.
Originality/value
This study provides a comparative perspective on the issuance of municipal bonds in Indonesia, with a special focus on Vietnam, emphasizing the urgency of harmonization in legal regulation and the sustainability of legal certainty.
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This paper aims to measure the trade price impact of a recent regulatory disclosure intervention in municipal securities secondary markets, which required broker-dealers to…
Abstract
Purpose
This paper aims to measure the trade price impact of a recent regulatory disclosure intervention in municipal securities secondary markets, which required broker-dealers to disclose securities trading information on a near-real-time and continuing basis.
Design/methodology/approach
The author analyzes trade price outcomes in the preintervention and postintervention regimes using a suite of time series estimations that give heteroskedasticity-robust standard errors (Prais–Winsten and Cochrain–Orcutt), accommodate higher-order lag structure in the error term (autoregressive integrated moving average) and account for volatility clustering in the time series (generalized autoregressive conditional heteroskedasticity).
Findings
Results show that regulatory disclosure intervention significantly improved trade price efficiency in municipal securities secondary markets as daily trade price differential and volatility both declined market-wide after the disclosure intervention.
Research limitations/implications
The sample consists of trades in State of California general obligation bonds; therefore, empirical findings may not be generalizable to other states, local governments and different types of bonds.
Practical implications
The findings highlight voluntary information disclosure as a practical and effective mechanism in disclosure regulation of municipal securities secondary markets.
Originality/value
Only a small body of work exists that examines information disclosure regulation in municipal securities secondary markets; therefore, this paper expands knowledge on the topic and should provide renewed impetus for regulatory efforts aimed at improving the efficiency of municipal capital markets.
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The institutional conditions of primary care provision remain understudied in low- and middle-income countries. This study analyzes how primary care doctors cope with medical…
Abstract
Purpose
The institutional conditions of primary care provision remain understudied in low- and middle-income countries. This study analyzes how primary care doctors cope with medical uncertainty in municipal clinics in urban India. As street-level bureaucrats, the municipal doctors occupy two roles simultaneously: medical professional and state agent. They operate under conditions that characterize health systems in low-resource contexts globally: inadequate state investment, weak regulation and low societal trust. The study investigates how, in these conditions, the doctors respond to clinical risk, specifically related to noncommunicable diseases (NCDs).
Design/methodology/approach
The analysis draws on year-long ethnographic fieldwork in Pune (2013–14), a city of three million, including 30 semi-structured interviews with municipal doctors.
Findings
Interpreting their municipal mandate to exclude NCDs and reasoning their medical expertise as insufficient to treat NCDs, the doctors routinely referred NCD cases. They expressed concerns about violence from patients, negative media attention and unsupportive municipal authorities should anything go wrong clinically.
Originality/value
The study contextualizes street-level service-delivery in weak institutional conditions. Whereas street-level workers may commonly standardize practices to reduce workload, here the doctors routinized NCD care to avoid the sociopolitical consequences of clinical uncertainty. Modalities of the welfare state and medical care in India – manifest in weak municipal capacity and healthcare regulation – appear to compel restraint in service-delivery. The analysis highlights how norms and social relations may shape primary care provision and quality.
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Seungha Baek and Agnieszka Radziwon
Public food procurement (PFP) plays an important role in establishing agri-food systems. The study explores local food system stakeholders' response to PFP interventions by…
Abstract
Purpose
Public food procurement (PFP) plays an important role in establishing agri-food systems. The study explores local food system stakeholders' response to PFP interventions by addressing the question of how PFP transforms agri-food systems and how this new agri-food ecosystem is governed.
Design/methodology/approach
This article presents and discusses a unique case study of Jeonbuk, a rural province in South Korea, which successfully transformed its agri-food system into an ecosystem through its sustainability-oriented innovations (SOIs) among born ecopreneur farmers. This case not only offers insights into a novel way to create value chains through legislative, executive and judicial governance but also extends the body of knowledge on agri-food systems by introducing the concept of an agri-food ecosystem.
Findings
The findings indicate the importance of the ecosystem governance and knowledge exchange among internal and external ecosystem stakeholders. In particular, PFP institutions play a crucial role in facilitating the operation of public meal centers and cooperation among actors.
Practical implications
Taking an ecosystem lens to agri-food systems may offer agricultural cooperatives a wider perspective and better understanding of the governance structures necessary to successfully execute public interventions. Lastly, the Korean case differs from other developing countries, but its role model qualities could help to implement successful school meal programs elsewhere.
Originality/value
This paper reviewed and applied a conceptual framework aimed at identifying the role of PFP institutions in the value chain governance by studying a case study of a South Korean local school meal program. The study further extends the agricultural cooperatives research and contributes to a better understanding of the role of a municipality and an agri-food intermediary in the governance process involving producers and kitchens.
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Sampa Chisumbe, Clinton Ohis Aigbavboa, Erastus Mwanaumo and Wellington Didibhuku Thwala
Vibha Kapuria-Foreman and Charles R. McCann
Prior to the passage of the 20th amendment to the US Constitution in 1920, several states had extended the suffrage to women. Helen Laura Sumner (later Woodbury), a student of…
Abstract
Prior to the passage of the 20th amendment to the US Constitution in 1920, several states had extended the suffrage to women. Helen Laura Sumner (later Woodbury), a student of John R. Commons at Wisconsin, undertook a statistical study of the political, economic, and social impacts of the granting of voting rights to women in the state of Colorado, and subsequently defended the results against numerous attacks. In this paper, we present a brief account of the struggle for women’s equality in the extension of the suffrage and examine Sumner’s critical analysis of the evidence as to its effects, as well as the counterarguments to which she responded.
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Young people in rural areas often face barriers when accessing participation opportunities in their municipalities. This affects their voices being heard and their ability to…
Abstract
Young people in rural areas often face barriers when accessing participation opportunities in their municipalities. This affects their voices being heard and their ability to create change. Even though almost half the world’s population lives in rural areas, rural young people’s activism is often overlooked in the literature. In addition, when young people’s activism is explored in empirical research, conceptualisations of activism and methods are often not tailored to rural areas. This chapter, thus, adds to our understanding of young people’s activism in rural municipalities by drawing on a mixed methods case study including thirteen focus groups (FGs; n = 35) and a questionnaire (n = 106) with young people aged 13–17, and semi-structured interviews (n = 11) with teachers from one secondary school in a rural municipality in Germany. Five of the FGs were conducted and analysed by Year 10 students, adding unique insights into participants’ experience of activism. In this chapter, activism is conceptualised as one of the multiple dimensions of citizenship. Activism includes demanding systemic change, individually or collectively, which may include refusing to do things, aiming to prevent laws, raising awareness, and making consumer choices. Rather than being full-time activists, the young people in this study were engaged in only a few forms of activism, often carried out ad-hoc, part-time and in connection with other citizenship activities such as volunteering. Spaces for activism included online, the local municipality, everyday spaces such as the supermarket, and school. Participants experienced multiple barriers when engaging in activism including narratives of non-activist young people, age restrictions, power imbalances and few opportunities for creating change, particularly at participants’ school and in their municipalities.
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George Okechukwu Onatu, Wellington Didibhuku Thwala and Clinton Ohis Aigbavboa
To date, there are no studies in the literature that provide a comprehensive understanding of the interrelationships between the slenderness ratio and the main design criteria in…
Abstract
Purpose
To date, there are no studies in the literature that provide a comprehensive understanding of the interrelationships between the slenderness ratio and the main design criteria in supertall towers (=300 m). In this paper, this important issue was explored using detailed data collected from 75 cases.
Design/methodology/approach
This paper was carried out with a comprehensive literature review including the database of the Council on Tall Buildings and Urban Habitat(CTBUH) (CTBUH, 2022), peer-reviewed journals, MSc theses and PhD dissertations, conference proceedings, fact sheets, architectural and structural magazines and other Internet sources. In this study, the case study method was also used to gather and consolidate information about supertall towers to analyze the interrelationships. Cases were 75 supertall buildings in various countries [44 from Asia (37 from China), 16 from the Middle East (6 from Dubai, the United Arab Emirates), 11 from the United States of America and 3 from Russia, 1 from the UK].
Findings
The paper's findings highlighted as follows: (1) for buildings in the height range of 300–399 m, the slenderness ratio was usually between 7 and 7.9 and megatall towers were frequently built at a slenderness ratio of 10–15; (2) the median slenderness ratio of buildings in the 400–599 m height ranges was around 8.6; (3) a trend towards supertall slender buildings (=8) was observed in Asia, the Middle East and North America; (4) residential, office and mixed-use towers had a median slenderness ratio of over 7.5; (5) all building forms were utilized in the construction of slender towers (>8); (6) the medium slenderness ratio was around 8 for supertall buildings constructed with outriggered frame and tube systems; (7) especially concrete towers reached values pushing the limits of slenderness (>10) and (8) since the number of some supertall building groups (e.g. steel towers) was not sufficient, establishing a scientific relationship between aspect ratio and related design criteria was not possible.
Originality/value
To date, there are no studies in the literature that provide a comprehensive understanding of the interrelationships between the slenderness ratio and the main design criteria in supertall towers (=300 m). This important issue was explored using detailed data collected from 75 cases.
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Conor Norris, Edward Timmons, Ethan Kelley and Troy Carneal
This paper aims to discuss a new source of data detailing state level occupational licensing requirements for 50 professions.
Abstract
Purpose
This paper aims to discuss a new source of data detailing state level occupational licensing requirements for 50 professions.
Design/methodology/approach
This study's research team gathered state level licensing requirements for 50 profession in all 50 states and DC from 2022 to 2023. The authors include the type of regulation, entry requirements like fees, education, training, good moral character provisions and renewal requirements. The authors include Standard Occupational Classification industry codes to allow researchers to merge it with other publicly available data sources. Finally, the authors present descriptive statistics and provide a comparison of licensing requirements for audiologists, an occupation with variation in entry requirements.
Findings
The mean number of the 50 professions licensed in states is 36. On average, these professions require a bachelor's degree, $271 in licensing fees and 26 h of continuing education to renew. For the audiologist profession, there is considerable variation between states in entry requirements like fees and education.
Originality/value
Despite a large body of work on occupational licensing, data limitations still exist. Most analysis focuses on whether a profession is licensed or not. However, there is considerable variation between states for the same profession, providing an avenue for work estimating the effects of specific licensing requirements. A new source of data is introduced and discussed for researchers to use in future analyses of occupational licensing.
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