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Article
Publication date: 5 March 2020

Fredrik Brunes, Cecilia Hermansson, Han-Suck Song and Mats Wilhelmsson

This paper aims to analyze how nearby property prices are affected by new construction projects in Stockholm. If there is an impact on property prices, the authors…

Abstract

Purpose

This paper aims to analyze how nearby property prices are affected by new construction projects in Stockholm. If there is an impact on property prices, the authors endeavor to investigate whether the effects vary among different areas within the municipality, for different groups of inhabitants and for different types of housing (i.e. public versus private housing).

Design/methodology/approach

The authors use a difference-in-difference specification in a hedonic model, and the sample consists of more than 90,000 observations over the period 2005-2013.

Findings

The results are robust and indicate that house prices in nearby areas increase following the completion of infill development. The results also indicate that infill development has a positive spillover effect on nearby dwelling prices only in areas with lower incomes, more public housing units and more inhabitants born abroad.

Originality/value

It provides an analysis on how nearby property prices are affected by new construction projects by creating a restricted control area, so as to make the treatment group and the control group more homogeneous. Thus, it mitigates any potential problems with spatial dependency, which can cause biased standard errors.

Details

Journal of European Real Estate Research , vol. 13 no. 1
Type: Research Article
ISSN: 1753-9269

Keywords

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Article
Publication date: 13 November 2009

Marion König and Joachim Möller

In 1997 minimum wages were introduced in the West and East German construction sector. The purpose of this paper is to analyze their impact on wage growth and employment…

Abstract

Purpose

In 1997 minimum wages were introduced in the West and East German construction sector. The purpose of this paper is to analyze their impact on wage growth and employment retention probability of affected workers.

Design/methodology/approach

Following a difference‐in‐differences approach the paper proposes a method to identify the effects of this quasi‐experiment despite the lack of information on working hours in the large panel microdata. The method determines the size of the treatment and control group by the maximum likelihood criterion.

Findings

All results show positive wage growth effects of the minimum wage regulation in both parts of the country. When it comes to employment effects, the results clearly differ between the two parts of the country. The employment effects are negative for East Germany and positive for West Germany, although the latter are not always statistically significant.

Research limitations/implications

Although there is a limit to the simple transferability of the results for the construction sector to other industries, the study provides some useful insights for this country concerning reactions to the minimum wage. This is the first paper analyzing the effect of minimum wages in Germany using microeconometric methods.

Practical implications

As the minimum wage in the East German construction sector was much higher in relation to the median wage than in West Germany, a tentative conclusion of the different employment results might be that the trade‐off between increasing wages for low‐paid workers and the danger of job losses does not exist in this case if minimum wages are moderate.

Originality/value

This paper provides valuable information on the impact of wage growth and employment retention probability in Germany.

Details

International Journal of Manpower, vol. 30 no. 7
Type: Research Article
ISSN: 0143-7720

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Article
Publication date: 10 August 2020

Leo H. Kahane

An economic impact study conducted in 2010 predicted that hosting the 34th America's Cup in 2013 would result in $1.37 billion in total economic benefits to the San…

Abstract

Purpose

An economic impact study conducted in 2010 predicted that hosting the 34th America's Cup in 2013 would result in $1.37 billion in total economic benefits to the San Francisco Bay Area. The goal of this paper is to examine the ex post effects of this competition on real taxable sales in the Bay Area.

Design/methodology/approach

A panel data set of quarterly observations on taxable sales transactions for all counties in the state of California is employed. These data are explored using two estimation methodologies: difference-in-differences and synthetic control.

Findings

Results from a difference-in-differences analysis and a synthetic control analysis produce similar findings. Namely, the 34th America's Cup competition appears to have had a minimal, short-lived impact on San Francisco and no measurable impact on two nearby counties.

Practical implications

The empirical results in this paper underscore the findings of previous research showing that ex ante economic impact studies tend to overstate the net economic benefits of hosting mega-events.

Social implications

The results of this paper may serve as a warning to policy makers considering using tax dollars to host a mega-event that such events often do not generate the economic gains reported in typical economic impact studies.

Originality/value

This is the first paper to econometrically explore the impact of hosting the America's Cup on taxable sales transactions in a region. This paper also employs the relatively new empirical methodology called synthetic control.

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Article
Publication date: 3 April 2017

Thi Tuyet Mai Nguyen, Elaine Evans and Meiting Lu

The purpose of this paper is to investigate the impact of independent directors on firm performance in Vietnam and identify how different types of ownership structure and…

Abstract

Purpose

The purpose of this paper is to investigate the impact of independent directors on firm performance in Vietnam and identify how different types of ownership structure and the presence of controlling shareholders influence the relationship.

Design/methodology/approach

For a sample of 217 non-financial Vietnam-listed companies during the period from 2010 to 2014, this study uses the ordinary least squares regressions to estimate the relationship between independent directors and firm performance. Two econometric techniques – the fixed effects estimation and the difference in difference estimation – are used to control for endogeneity. The results are also robust to the lag variable of independent directors.

Findings

The results reveal that independent directors have an overall negative effect on firm operating performance. This finding may be because of information asymmetry, expertise disadvantage and the dominance of ownership concentration that prevent independent directors from fulfilling their monitoring function in governance. The negative relationship between independent directors and firm performance is stronger in firms where the State is a controlling shareholder.

Research limitations/implications

Findings suggest that changes relating to independent directors, as a response to the new corporate governance code in 2012, do not have a positive effect on the relationship between corporate governance and firm performance. Further reform is required to improve internal control mechanisms and corporate governance systems in Vietnam.

Originality/value

This is the first study to provide a robust evidence on the relationship between independent directors and firm performance in Vietnam as well as to explore the impact of the type of controlling shareholders on the relationship.

Details

Pacific Accounting Review, vol. 29 no. 2
Type: Research Article
ISSN: 0114-0582

Keywords

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Article
Publication date: 5 February 2018

Michelle Li and Helen Roberts

This paper aims to examine the relationship between board independence and firm performance for publicly listed New Zealand (NZ) firms over the period 2004-2016.

Abstract

Purpose

This paper aims to examine the relationship between board independence and firm performance for publicly listed New Zealand (NZ) firms over the period 2004-2016.

Design/methodology/approach

To address endogeneity concerns, the relationship between firm performance and board independence is modelled using three different approaches: firm fixed-effect estimation, difference-in-difference estimation and two-stage least squares estimation, while controlling for firm and governance characteristics.

Findings

The main finding is that the mandated board independence introduced by the Best Practice Code does not improve operating or market performance for listed NZ firms.

Research limitations/implications

The fact that NZ firms choose greater board independence than required is puzzling. Research examining director characteristics and connectedness, not captured by the NZX Code, may be a fruitful area for future research when disclosure allows.

Practical implications

Regulators may need to review reasons for mandating changes in factors affecting firm governance before implementing further regulations concerning board structure.

Social implications

The findings cast doubt on the benefit of mandated board independence for NZ firms. The results imply that “good” governance practices proposed by regulators are not universal.

Originality/value

This paper tests the impact of mandated board independence following the adoption of the Best Practice Code in 2004 using methodologies that account for endogeneity using 13 years of data.

Details

Pacific Accounting Review, vol. 30 no. 1
Type: Research Article
ISSN: 0114-0582

Keywords

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Book part
Publication date: 11 July 2019

Annette Bergemann, Erik Grönqvist and Soffia Guðbjörnsdóttir

We investigate how career disruptions in terms of job loss may impact morbidity for individuals diagnosed with type 2 diabetes (T2D). Combining unique, high-quality…

Abstract

We investigate how career disruptions in terms of job loss may impact morbidity for individuals diagnosed with type 2 diabetes (T2D). Combining unique, high-quality longitudinal data from the Swedish National Diabetes Register (NDR) with matched employer–employee data, we focus on individuals diagnosed with T2D, who are established on the labor market and who lose their job in a mass layoff. Using a conditional difference-in-differences evaluation approach, our results give limited support for job loss having an impact on health behavior, diabetes progression, and cardiovascular risk factors.

Details

Health and Labor Markets
Type: Book
ISBN: 978-1-78973-861-2

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Article
Publication date: 11 May 2020

Hoon Choi

This paper examines whether and how labour market duality can be alleviated through legislation that prohibits discrimination based on employment type.

Abstract

Purpose

This paper examines whether and how labour market duality can be alleviated through legislation that prohibits discrimination based on employment type.

Design/methodology/approach

In 2007, the Korean government undertook a labour reform banning discriminatory treatment against fixed-term, part-time and dispatched workers. By exploiting a gradual implementation of the anti-discrimination law by firm size targeting a subset of non-regular workers, the paper identifies the treatment effects of the anti-discrimination law, taking a difference-in-difference-in-differences approach.

Findings

The results suggest that the anti-discrimination law significantly increases hourly wages and the probabilities of being covered by national pension, health insurance, and employment insurance for targeted non-regular workers in small firms relative to other workers. Anticipatory behaviours of employers and selective transitions of employees in response to the implementation of the anti-discrimination law do not underlie the estimated effects. The presence of labour unions contributes to reducing gaps in labour conditions between regular workers and targeted non-regular workers.

Originality/value

The main contribution of this paper is to provide empirical evidence on causal impacts of equal pay legislation on the gaps in labour conditions between different categories of workers, using a difference-in-difference-in-differences estimation.

Details

International Journal of Manpower, vol. 41 no. 8
Type: Research Article
ISSN: 0143-7720

Keywords

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Book part
Publication date: 21 November 2014

Ryan Greenaway-McGrevy, Chirok Han and Donggyu Sul

This paper is concerned with estimation and inference for difference-in-difference regressions with errors that exhibit high serial dependence, including near unit roots…

Abstract

This paper is concerned with estimation and inference for difference-in-difference regressions with errors that exhibit high serial dependence, including near unit roots, unit roots, and linear trends. We propose a couple of solutions based on a parametric formulation of the error covariance. First stage estimates of autoregressive structures are obtained by using the Han, Phillips, and Sul (2011, 2013) X-differencing transformation. The X-differencing method is simple to implement and is unbiased in large N settings. Compared to similar parametric methods, the approach is computationally simple and requires fewer restrictions on the permissible parameter space of the error process. Simulations suggest that our methods perform well in the finite sample across a wide range of panel dimensions and dependence structures.

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Article
Publication date: 7 January 2019

Indrajit Roy and Narayanan K.

This paper aims to analyse the change in performance of parent Indian firms (home effects) who have invested in overseas locations in recent times.

Abstract

Purpose

This paper aims to analyse the change in performance of parent Indian firms (home effects) who have invested in overseas locations in recent times.

Design/methodology/approach

Difference-in-difference (DiD) estimate of home effects using farm level data.

Findings

Home effects of Indian outward foreign direct investment (OFDI), in general, are insignificant. However, in the case of OFDI directed only to non-offshore financial centre (OFC), some firms did enjoy beneficial home effects with respect to turnover, current ratio and leverage ratio. In the case of OFDI directed purely to OFC locations, some of the parameters exhibited negative home effects. In the subsample of Indian OFDI directed to combination of OFC and non-OFC locations, the results show positive home effects with respect to export, operating profit margin and forex earnings; however, impact on turnover seems to be negative for all the quartiles.

Research limitations/implications

Estimation of home effects using data over longer horizon may yield robust outcome.

Practical implications

These results make a strong case to draw a distinction among OFDIs to OFC, non-OFC and combination of OFC and non-OFC locations in studying the beneficial home effects of OFDI.

Originality/value

To the authors’ knowledge, this is the first paper which estimates home effects of different groups of Indian firms (based on their investment locations and size class) using difference-in-difference estimate.

Details

Journal of Asia Business Studies, vol. 13 no. 1
Type: Research Article
ISSN: 1558-7894

Keywords

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Article
Publication date: 14 August 2017

Jiebei Luo

This paper aims to evaluate the performance of a chat reference service implemented at an academic library in a private liberal arts college by gauging its impact on other…

Abstract

Purpose

This paper aims to evaluate the performance of a chat reference service implemented at an academic library in a private liberal arts college by gauging its impact on other forms of reference service in terms of usage volume, with a focus on research-related face-to-face reference questions.

Design/methodology/approach

Two statistical methods are used, namely, the difference-in-differences method and a simple moving average time series analysis, to analyze both the short-term and long-term impact brought by chat reference.

Findings

This study finds that the usage volume of the traditional face-to-face reference is significantly affected by chat reference in its first service year. The long-term analysis suggests that chat reference volume displays a significant declining trend (−2.06 per cent academic month) since its implementation. Yet, its usage volume relative to other reference services remains stable over time.

Originality/value

The findings in this case study will be of value to libraries with similar scale and institutional features that are also interested in assessing their chat reference service. In addition, this paper is the first to apply the difference-in-differences approach in the field of library science, and the two statistical methods adopted in this case study can be readily adapted and applied to other similar volume-based library assessment projects.

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