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While the state dependency thesis seems widely accepted among students of the German non‐profit sector, there is surprisingly little research that has systematically explored its empirical base and conceptual validity. Attempts to remedy this situation and offers an initial empirical examination of this thesis. Examines the extent and pattern of state funding of the German non‐profit sector and develops three propositions, each adopting a different explanatory focus, which are then analysed with the help of data taken from a sample survey of West German non‐profit organizations.

The purpose of this paper is to estimate the impact of fixed-term contracts (FTCs) on labour productivity, wages (i.e. labour cost), and productivity-wage gaps (i.e. profits).

The authors apply dynamic panel data techniques to detailed Belgian linked employer-employee panel data covering the period 1999-2006.

Results indicate that FTCs exert stronger positive effects on productivity than on wages and (accordingly) that the use of FTCs increases firms’ profitability.

This paper is one of the first to examine the FTC-productivity-wage nexus while addressing three important methodological issues related to the state dependency of the three explained variables, to firm time-invariant heterogeneity, and to the endogeneity of FTCs.

This paper considers the implications of the liberalization of the New Zealand economy for entrepreneurial development by indigenous New Zealand Maori tribal organizations. Since 1984 the economic objective of the State has been to create a modern market economy free of price distortions, bureaucratic management and government protectionism. One of the State’s responses to enabling tribal organizations to provide for increased self‐determination and to lessen Maori State dependency was to seriously address the issue of compensation to Maori of resources that had been expropriated or confiscated during the past 150 years. While there have been difficulties in reaching agreement on appropriate or adequate allocations of Crown‐owned resources or compensation, the transferal of resources to private (but collective) Maori ownership is now providing a substantial economic base to build corporate and other entrepreneurial activities. It is argued that such willingness and commitment to transfer resources from the State back to the original owners was a manifest outcome of government’s adoption of liberal economic policies.

Characterization and modelling of the material properties, as well as the fracture simulation needed for the numerical analysis of bolted T-stub connection under impulsive loads. The strain rate effects are considered on the material law; fracture simulation is explored following “element deletion” technique for a given level of ductile damage.

The T-stub model is used in Eurocode 3 – part 1.8 as part of the “component method” for the representation of steel connection’s tension zone and is usually responsible for providing ductility to the connection. Looking forward to establish the “T-stub’s” maximum displacement capacity under impact loading, i) fracture simulation of steel elements is here explored following “element deletion” technique for a given level of ductile damage; ii) material softening and triaxial stress state dependency are assessed by finite element analysis of common uniaxial tension tests, and iii) strain rates effects are used based on results from Split-Hopkinson Bar tests, through the incorporation of the Johnson-Cook’s elevated strain rate law for material strain-hardening description. Numerical predictions of the model describing the “T-stub” behaviour and displacement capacity are compared against experimental results.

The FE model developed was found reliable in the description of the T-stub response subject to static and impact loads. Particularly, the strain rate sensitive material hardening following a calibrated Johnson-Cook law proved accurate in the description of the enhancement of the material strength. It was observed that when subject to impact loading regimes, the force-displacement response of T-stubs is: i) enhanced due to elevated strain rate effects, avoiding rupture when subject to a load equal the maximum static; ii) less ductile plastic failure modes in deformable T-stubs are expected, whilst the development of higher strains in the bolt may lead to a reduction in its ductility capacity.

A non-linear dynamic FE model of simple T-stub configuration using a strain rate effect on the material law and fracture simulation, providing insight of stress, strain, strain rate and damage contours developments, when exposed to impact loading.

The purpose of this paper is to analyze the relationship between ownership concentration and company performance in China private listed companies.

By taking into account of the difference of managerial positions of large shareholders in listed companies (whether they assume the posts as presidents or general managers), and based on the two agency theories, the paper analyzes the state dependency of the relationship between ownership concentration and the company performance of listed companies with the samples of China private listed companies from 2003 to 2011.

The paper finds that if the large shareholders assume no posts in the listed companies, there is an inverted U shape relation between shareholding ratio of the largest shareholders and the company performance. This result indicates the inadequate or excessive monitoring to the companies by the large shareholders according to different shareholding ratios. If large shareholders assume posts in the listed companies, there is a U shape relation between shareholding ratio of the largest shareholders and the company performance. This result indicates the tunneling and propping to the small shareholders by the large shareholders according to different shareholding ratios.

This paper has not taken the influence of earnings management of the listed companies.

For strengthening the protection of investors, proper distinction shall be made among shareholders of different conditions, and difference of roles large shareholders play in the company under different conditions shall be understood correctly, so as to formulate and perfect market rules for corporate governance, rather than just restraining the power (rights) of large shareholders. The study in this paper is for helping understand the different roles large shareholders play under different corporate governance conditions.

First, different from the research paradigm of relationship between ownership concentration and company performance in existing literature, the paper discriminates the study background with the post-assuming conditions of large shareholders in listed companies and believes that relationship between ownership concentration and company performance shall be presented differently under different post-assuming conditions. Second, by using monitoring theory and tunneling and propping theory to explain the behaviors of large shareholders under different post-assuming conditions respectively, a new theory explanation view is provided for explaining the relation between ownership concentration and company performance.

This paper provides a reflection about the usefulness of the concept of social entrepreneurship to Portuguese third sector organizations (TSOs) with the purpose of understanding the paths undertaken by the latter. Departing from a theoretical synthesis inspired by different approaches to social entrepreneurship, the purpose of this paper is to offer an operative view of the concept in light of the problematics of social innovation and organizational innovation.

The empirical analysis focuses on the intervention models and management models of these organizations. It uses a sequential methodological approach that combines extensive and intensive analyses.

The author has concluded that Portuguese TSOs show a fragile form of social entrepreneurship. This includes, among others, state dependency both in terms of models of financial management and the definition and regulation of activities, recipients and social intervention. This leads the author to claim, even though cautiously, that management models influence intervention models.

The originality of this paper lies on the use of an analytic framework that offers an eclectic approach to social entrepreneurship. This approach goes beyond some hidden contradictions between Anglo-Saxon schools of thought, namely, the earned income school of thought, and the school of social innovation, as well as the European perspective on social enterprises, and the Latin-American school of solidarity economy. These schools have been reconciled for the purposes of this analysis, which attempts to operationalize the notion of social entrepreneurship in the Portuguese TSOs.

The purpose of the current study is to examine the implications of the implementation of Goods and Service Tax (GST) on the revenue efficiency of the sub-national governments in India. Furthermore, the study aims to compare the revenue efficiency of the Indian states for the pre-GST and post-GST periods in India.

The study has used the annual revenue of value-added tax (VAT)/GST of the Indian states for the period ranging from 2012–2013 to 2020–2021 for the pre- and post-GST periods. The empirical results are based on the panel regression model for examining the implications of GST adoption on the Indian states.

The analysis shows that the implementation of GST in India has negatively impacted the revenue efficiency of the Indian states. Moreover, the results affirm that the contribution of the service sector to the state's Net State Domestic Product (NSDP), credit-deposit ratio (CDR) and outstanding net bank credit (ONBC) ratio of schedule commercial banks (SCBs) positively and states' dependency on central transfers (DCT) negatively impact the tax revenue efforts of the state governments. Furthermore, the GST adoption has a greater impact on the revenue efficiency of the minor states in comparison to major states which may widen the inter-state disparity gap as GST revenue constitutes a major share in the Own Tax Revenue (OTR) of the Indian states in aggregate.

The current study will act as a guide for government, policymakers and for the sitting of the fifteenth finance commission in India for future policy formulation on GST and compensation to the Indian states. Similarly, this study can be used as a base for conducting future studies on the implications of GST at the national, sub-national, and international levels.

Previous studies on the implications of GST are theoretical and conceptual. There is hardly any study at the national or sub-national level that has focused on the implications of GST on the revenue efficiency of the Indian states.

Aims to build a theory of human creativity on the premisses of autopoietic systems theory (AST) in contrast to the classical representationist paradigm. Correspondingly, creativity is seen as an activity recurrently reproduced by couplings of specific states of moderate emotional arousal with “transitional” environments, i.e. “soft” social structures in which the world is permitted to be both subjective and objective; the archetype of these creative couplings can be found in the earliest “perfect environment” formed by the symbiotic infant‐mother relationship. Hypothesizes that these early states of synergy serve as centres of emotional gravity that are actively sought after by the mature creative person in his/her efforts to overcome splits of verbal space corresponding to schisms of cultural value and belief systems.

The purpose of this paper is to investigate the impact of changes in credit stock on real and financial indicators in Turkey with a focus on conditional and time-varying dynamics.

In addition to lag-augmented vector autoregression (LA-VAR) based time-varying Granger causality tests, threshold models and a research setting that identifies high/low states of credit growth based on 24-month moving averages are used to explore regime-dependent behavior. For investigating the asymmetric dynamics, the authors use a methodology that identifies good/bad news in credit growth based on 24-month moving averages and standard deviations.

Results strongly suggest that the impact of changes in credit stock induces conditional responses. Moreover, we find evidence for asymmetric responses. In the case of Turkey, efforts to spur growth through credit produce a strong negative byproduct, a depreciation in the exchange rate. The authors also find that changes in credit stock have become more relevant for uncertainties in inflation and exchange rate expectations, particularly in the era after mid-2018 in which credit growth volatility has increased noticeably.

This study provides a comprehensive analysis of time-varying and conditional responses to a change in credit stock in a major emerging economy. Using a moving threshold based only on the available information in the analysis of state-dependency represents a new approach.

This study investigates the reasons behind the very high net interest margins in the Greek banking industry compared to the euro-area, focussing on the association between bank competition and recapitalisations.

The author conducts a dynamic panel analysis covering the period from the early 2000s to 2021, that controls for possible endogeneity and treats for heterogeneity. The author also employs local projections impulse response functions that control for structural changes in Greek banking.

The author finds that low bank competition has contributed to high net interest margins in Greece. Interestingly, the impact of recapitalisations conditional to low bank competition has had a significant further impact on increasing net interest margins, which is a noteworthy case due to several Greek bank recapitalisations in the last ten years. The author’s findings are supported by local projections impulse response functions.

To mitigate distortions in bank competition, the author argues to accelerate steps toward the direction of the banking union and a common bank regulation framework in the euro-area.