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Strategies for Sustaining the FPOs: Case Illustrations 维持fpo的策略:案例说明
Pub Date : 2018-09-20 DOI: 10.2139/ssrn.3332531
Dr. Manjusha S Kadam
In India, there are many legal forms of organisations into primary producer can organise themselves. A Producer Company (PC) is one such and relatively new legal entity of the producers of any kind, viz., agricultural produce, forest produce, artisanal products, or any other local produce, where the members are primary producers. PC as a legal entity was enacted in 2003 as per section IXA of the Indian Companies Act 1956. Since the above enactment, the PC has been hailed as the organizational form that will empower and improve the bargaining power, net incomes, and quality of life of small and marginal farmers/producers in India. In India, FPCs were originally promoted and supported by the State Government (Madhya Pradesh) under the World Bank (WB) poverty reduction project since 2005, and thereafter (since 2011) extensively under similar projects in states like Maharashtra. Such initiatives are also taking place in states like Tamil Nadu, Rajasthan and Himachal Pradesh. NGOs, the Small Farmers Agribusiness Consortium (SFAC), Department of Agriculture of State Governments (some supported with World Bank assistance) and the NABARD are promoting (FPOs) in rural areas in the form of producer companies with financial support of the Government of India. Kasturi initiative of Tata Chemicals society for Rural Development is working towards women agripreneurs to realize their leadership and network with other women across value chain. This includes identifying and networking potential partners for strengthening women agripreneurs and helping them for market linkages. The institutional partnerships will support to demonstrate the collective power for long term sustenance.
在印度,有许多合法形式的组织,初级生产者可以自己组织。生产者公司(PC)是一种相对较新的法律实体,由任何种类的生产者组成,即农产品、林产品、手工艺品或任何其他当地产品,其成员是初级生产者。根据1956年《印度公司法》第IXA节,PC作为法律实体于2003年颁布。自上述颁布以来,个人电脑一直被誉为一种组织形式,它将赋予和提高印度小农和边缘农民/生产者的议价能力、净收入和生活质量。在印度,自2005年以来,fpc最初由邦政府(中央邦)在世界银行(WB)减贫项目下推广和支持,此后(自2011年以来)在马哈拉施特拉邦等邦的类似项目下得到广泛推广和支持。泰米尔纳德邦、拉贾斯坦邦和喜马偕尔邦等邦也在采取此类举措。非政府组织、小农综合企业联合会、邦政府农业部(其中一些得到了世界银行的援助)和NABARD在印度政府的财政支持下,以生产公司的形式在农村地区推广FPOs。塔塔化学农村发展协会的Kasturi倡议正在努力帮助女性农业企业家实现她们的领导地位,并与价值链上的其他女性建立联系。这包括确定潜在合作伙伴并建立网络,以加强妇女农业企业家,并帮助她们建立市场联系。机构伙伴关系将有助于展示长期维持的集体力量。
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引用次数: 1
Impact of Material ESG SASB Factors on the Cost of Debt in Banking ESG SASB重要因素对银行业债务成本的影响
Pub Date : 2018-09-12 DOI: 10.2139/ssrn.3248154
Dev Asnani
This working paper (right now in the research proposal stage) examines the listed material sustainability standards for the commercial banking industry provided by the Sustainability Accounting Standards Board (SASB) and attempts to quantify them. The first initial step will be to develop normalized scores for each of these factors through the provided operating metrics in SASB's Bloomberg Report. In the quantification process, Principal Component Analysis will be used on these normalized scores to determine which factor is driving the variance, and in a sense, driving the ESG impact. After determining those driving factors, a multivariate regression will be used to compare these factors to the cost of debt of US banking firms with assets over 100 million. The goal and significance of this paper are to create a metric for banks. It will allow them to see that improving there sustainability will lead to a lower cost of debt, but on a more fundamental level, to see which specific SASB factors to focus to drive the cost of debt down in the most efficient way.
本工作文件(目前处于研究提案阶段)审查了由可持续会计准则委员会(SASB)提供的商业银行业的上市材料可持续性标准,并试图对其进行量化。第一步将是通过SASB的彭博报告中提供的运营指标,为这些因素中的每个因素制定标准化分数。在量化过程中,主成分分析将用于这些标准化分数,以确定哪个因素驱动方差,并在某种意义上驱动ESG影响。在确定这些驱动因素后,将使用多元回归将这些因素与资产超过1亿美元的美国银行公司的债务成本进行比较。本文的目的和意义在于为银行创建一个衡量标准。这将使他们看到,提高可持续性将导致更低的债务成本,但在更基本的层面上,看到需要关注哪些具体的SASB因素,以最有效的方式降低债务成本。
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引用次数: 0
Flight From Urban Blight: Lead Poisoning, Crime and Suburbanization 逃离城市衰败:铅中毒、犯罪和郊区化
Pub Date : 2018-09-06 DOI: 10.2139/ssrn.3245090
F. Curci, Federico Masera
In this paper we study the effect of violent crime on residential and firms location decisions and their implications for segregation in cities. We do so by proposing a new instrument to exogenously predict violent crime in city centers. We base our instrument on chemical and medical evidence that links local characteristics of the soil to lead poisoning and aggression. We show that the increase in violent crime between 1960 and 1990 due to lead poisoning moved almost 8 million people to the suburbs. Firms followed by leaving the city centers. We then show that the suburbanization process was characterized by “white flight”.
在本文中,我们研究了暴力犯罪对住宅和企业选址决策的影响及其对城市隔离的影响。为此,我们提出了一种新的工具来外生预测城市中心的暴力犯罪。我们的仪器以化学和医学证据为基础,这些证据将土壤的地方特征与铅中毒和侵略联系起来。我们表明,1960年至1990年间,由于铅中毒导致的暴力犯罪增加,使近800万人搬到了郊区。企业纷纷离开市中心。然后,我们发现郊区化过程具有“白色外逃”的特征。
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引用次数: 3
Democracy and Aid Donorship 民主与援助捐赠
Pub Date : 2018-09-01 DOI: 10.2139/ssrn.3260859
A. Fuchs, Angelika Müller
Almost half of the world’s states provide bilateral development assistance. While previous research takes the set of donor countries as exogenous, this article introduces a new dataset on aid giving that covers all countries in the world, both rich and poor, and explores the determinants of aid donorship. It argues and shows empirically that democratic institutions support the setup of an aid program in richer countries but undermine its establishment in poorer countries. The findings hold in instrumental-variable regressions and the pattern is similar for the amount of aid. (JEL D72, F35, H87, O17, O19)
世界上几乎一半的国家提供双边发展援助。虽然之前的研究将捐赠国作为外生的,但本文引入了一个新的援助提供数据集,涵盖了世界上所有国家,无论贫富,并探讨了援助捐赠的决定因素。它论证并实证地表明,民主制度支持在富裕国家建立援助计划,但破坏了在较贫穷国家建立援助计划。这一发现在工具变量回归中成立,援助金额的模式也类似。(jel d72, f35, h87, o17, o19)
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引用次数: 9
City as Neural Platform - Toward New Economics of a City 城市作为神经平台——走向城市的新经济
Pub Date : 2018-08-17 DOI: 10.2139/ssrn.3233686
Marek Banczyk, J. Potts
We propose and develop a new conceptual framework for the economic analysis of cities, as a contribution toward a new interdisciplinary science of cities. The standard economic analysis of cities is based on a spatial market model of (production, transactional and consumption) externalities in which cities are agglomerative engines of economic growth. The new framework we propose takes the spatial agglomerative economic model as the starting point, but develops this toward: (1) a dynamic game-theoretic analysis of cities (as infrastructures and protocols) that compete for globally mobile resources, and; (2) a model of cities as two-sided markets (i.e. platforms) seeking to solve matching problems between idiosyncratic resources, (3) neural model of the city based on solving problems through information processing and learning. This suggests a new way of analyzing the mechanism underlying the economic performance of cities and potentially leads to new policy implications.
我们提出并发展了一个新的概念框架,用于城市的经济分析,作为对新的跨学科城市科学的贡献。城市的标准经济分析是基于(生产、交易和消费)外部性的空间市场模型,其中城市是经济增长的聚集引擎。我们提出的新框架以空间集聚经济模型为出发点,并将其发展为:(1)对竞争全球移动资源的城市(作为基础设施和协议)进行动态博弈论分析;(2)城市作为双边市场(即平台)的模型,寻求解决特质资源之间的匹配问题;(3)基于信息加工和学习解决问题的城市神经模型。这为分析城市经济表现背后的机制提供了一种新的方法,并可能导致新的政策影响。
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引用次数: 1
Do Listed Clean Energy Infrastructure Shares Make Financial Sense for Investors? 清洁能源基础设施类股票上市对投资者有财务意义吗?
Pub Date : 2018-08-08 DOI: 10.2139/ssrn.3175879
Charles Donovan, Jianjun Li
Despite supportive government policies and rapid technological improvements, the participation of institutional investors in the clean energy sector remains relatively limited. One of the key challenges to increase capital flows to clean energy projects is a robust historical record of risk and financial return. Our paper helps to fill this knowledge gap by documenting the past financial performance of “Yieldcos,” publicly-listed equity vehicles holding multiple operational renewable energy projects. We document risk-adjusted returns for Yieldcos in North America and the United Kingdom. Over the period studied, a portfolio of UK Yieldcos generated risk-adjusted returns superior to the broad equity market and a range of sectoral indices. On the contrary, US Yieldco portfolio is characterized by high volatility and relatively poor financial returns. We provide evidence of diversification benefits from the UK Yieldco portfolio, indicating the potential for sustainable energy infrastructure to be characterized as a unique asset class whose risk/return characteristics cannot be replicated from within a diversified investment portfolio.
尽管政府出台了支持性政策,技术也得到了迅速改进,但机构投资者在清洁能源领域的参与仍然相对有限。增加清洁能源项目资本流动的关键挑战之一是风险和财务回报的良好历史记录。我们的论文通过记录“Yieldcos”(持有多个可再生能源项目的上市股权工具)过去的财务表现,帮助填补了这一知识空白。我们记录了北美和英国Yieldcos的风险调整回报。在所研究的时间段内,英国Yieldcos投资组合产生的经风险调整后的回报率高于整体股市和一系列行业指数。相反,美国Yieldco投资组合的特点是高波动性和相对较差的财务回报。我们提供了英国Yieldco投资组合多元化收益的证据,表明可持续能源基础设施的潜力被描述为一种独特的资产类别,其风险/回报特征无法从多元化投资组合中复制。
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引用次数: 3
Openness and Factor Shares: Is Globalization Always Bad for Labor? 开放与要素份额:全球化对劳动力总是不利的吗?
Pub Date : 2018-08-01 DOI: 10.2139/ssrn.3289779
Ariel Weinberger, Aslı Leblebicioğlu
The secular decline in the labor share since the 1980's is a global phenomenon, and a trend that is concurrent with large liberalization episodes worldwide. In this paper we investigate the liberalization episode in India during the 1990's, which has been characterized by large and unexpected changes in trade and foreign investment policies. Contrary to what might be expected given the reduction in the aggregate data, we uncover a trade channel that raises the labor-to-capital relative factor shares in India. A reduction in capital tariffs and liberalization of FDI raise the share of income paid to labor relative to capital. Our results reveal access to foreign capital as a new mechanism through which openness affects factor shares. An increasing share of foreign capital in the total capital stock provides a capital-augmenting technical change and potentially reduces rental rates, both of which raises the relative labor share. We find capital and R&D intensities, and the borrowing capacity of the firm, to be important determinants of the factor share response to openness. Finally, we identify domestic deregulation policies and credit expansion as potential determinants of the observed decline in the labor share.
自20世纪80年代以来,劳动收入占比的长期下降是一种全球现象,这一趋势与世界范围内的大规模自由化事件同时发生。在本文中,我们研究了20世纪90年代印度的自由化事件,其特点是贸易和外国投资政策发生了巨大而意想不到的变化。考虑到总数据的减少,与预期相反,我们发现了一个提高印度劳动资本相对要素份额的贸易渠道。资本关税的降低和外国直接投资的自由化提高了支付给劳动力的收入相对于资本的份额。我们的研究结果揭示了外资获取是开放影响要素份额的新机制。外国资本在总资本存量中所占份额的增加提供了一种资本增值的技术变革,并可能降低租金,这两者都提高了相对劳动份额。我们发现资本和研发强度,以及企业的借贷能力,是因素份额对开放反应的重要决定因素。最后,我们确定国内放松管制政策和信贷扩张是观察到的劳动收入占比下降的潜在决定因素。
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引用次数: 10
Cockroach Theory of Organizational Sustainability and Scalability: Detailed Study on Evidence Based on BOP Approach 蟑螂组织可持续性与可扩展性理论:基于BOP方法的实证研究
Pub Date : 2018-07-30 DOI: 10.21013/JMSS.V12.N1.P1
K. Raj, Sreeramana Aithal
The question of survival and sustenance are at the very foundation of every individual or organization.  There are various factors that are essential for growth and sustenance of companies. There has been many research studies undertaken to gauge the success factors or to breakdown the components and study success in detail. Especially so, it gains even more importance when companies are serving the markets where consumers have very low incomes and have several unmet needs. Companies serving the base of the pyramid markets need relatively unique strategies and value propositions for success. The base of pyramid came into forefront when management thinkers C K Prahalad and Staurt L. Hart, formulated the “Bottom of the Pyramid” theory in a 2002 article about how businesses can help the poor while still able to make a profit. They noted that there was little competition among the millions of the poor, who essentially live in a world of non consumption. Through low prices, new business models and innovative products, and inclusive value creation corporations along with the help of nongovernmental organizations (NGOs) and local governments, could make money and do good for the larger cause by tapping this underserved market. It has been the belief of many that BOP consumers are typically characterized by several unmet needs, it could range from food, sanitation, transport, communication, and connectivity. It is also interesting to note that in several BOP markets where are overlapping needs not necessarily following the need hierarchy.  Information and communication technology businesses have been able to occupy a larger share of the BOP consumer’s wallet than even basic needs such as sanitation or electricity. What then prompts these consumers and how can businesses reach out to these segments in a phased successful manner. This paper develops the concept, postulates, explanations, theoretical model, and business case based proof on Cockroach Theory of Organizational sustainability and scalability by considering BOP business companies performance evidence. The study also discusses the applicability of this theory and its frameworks on companies and their business models focusing on BOP sectors along with the limitations.
生存和维持的问题是每一个个人或组织的基础。有各种各样的因素对公司的成长和维持至关重要。已经进行了许多研究来衡量成功因素或分解组成部分并详细研究成功。特别是,当公司服务于消费者收入非常低且有几个未满足需求的市场时,它就变得更加重要了。服务于金字塔市场底层的公司需要相对独特的战略和价值主张才能取得成功。2002年,管理思想家C·K·普拉哈拉德(C . K . Prahalad)和斯特拉特·l·哈特(t. L. Hart)在一篇文章中提出了“金字塔底部”理论,阐述了企业如何在帮助穷人的同时仍能盈利,金字塔底部的概念由此进入了人们的视野。他们指出,数百万穷人之间几乎没有竞争,他们基本上生活在一个没有消费的世界里。通过低价、新商业模式和创新产品,以及包容性价值创造,企业可以在非政府组织和地方政府的帮助下,利用这个服务不足的市场,赚钱并为更大的事业做贡献。许多人认为,防喷器消费者通常有几个未满足的需求,包括食品、卫生、交通、通信和连通性。同样有趣的是,在一些需求重叠的防喷器市场,不一定遵循需求层次结构。信息和通信技术企业在国际收支消费者钱包中所占的份额,甚至超过了卫生或电力等基本需求。然后是什么促使这些消费者,企业如何以一种分阶段成功的方式接触到这些细分市场。本文通过考虑BOP业务公司的绩效证据,发展了蟑螂理论的概念、假设、解释、理论模型和基于证明的商业案例。该研究还讨论了该理论及其框架在公司及其业务模式上的适用性,重点关注防喷器部门以及局限性。
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引用次数: 5
Homeless Exclusion Districts: How California Business Improvement Districts Use Policy Advocacy and Policing Practices to Exclude Homeless People from Public Space 无家可归者隔离区:加州商业改善区如何利用政策倡导和警务实践将无家可归者排除在公共空间之外
Pub Date : 2018-07-27 DOI: 10.2139/SSRN.3221446
Jeffrey Selbin, Stephanie Campos-Bui, Joshua Epstein, Laura Lim, Shelby Nacino, Paula Wilhlem, Hannah Stommel
Business improvement districts (“BIDs”) are private entities funded by local property assessments that play an increasingly large role in managing public space in California cities. First authorized by state law in the 1960s to help revitalize struggling urban areas, BIDs have grown considerably in number and influence, especially since 1994 when the State Legislature reduced public oversight of BIDs and expanded their assessment and spending authority. Today, approximately 200 California BIDs collect hundreds of millions of dollars annually in compulsory property assessment revenue, which they spend on a wide range of activities. Researchers and policymakers have paid little attention to the rise of BIDs and their growing influence on municipal and state affairs. BIDs typically are located in downtown areas where businesses are concentrated. These same areas, especially in California, often have a high concentration of homeless people, including many people who are unsheltered. The interests and activities of BIDs and homeless people intersect and conflict in several important ways, including in the areas of public policy, policing practices, and social services. In this report, we share research findings about the relationship between California BIDs and homelessness. We conducted a literature review, studied municipal laws that target or disproportionately impact homeless people, researched the legal framework authorizing BIDs, and surveyed BIDs in California’s 69 largest cities. To help interpret the data from these sources, we conducted in-depth case studies of eleven BIDs in the cities of Berkeley, Chico, Los Angeles, Oakland, Sacramento, San Diego, and San Francisco, including analysis of public records, interviews with BID officials, and surveys and interviews of homeless people. Our key finding is that BIDs exclude homeless people from public spaces in their districts through policy advocacy and policing practices. BID involvement in social services is experienced by homeless people as an additional form of policing, surveillance, and harassment. Our findings raise several legal concerns. When BIDs spend property assessment revenue on local and statewide policy advocacy, they may violate California law. BID spending on policy advocacy with revenue from assessments of publicly owned properties raises special statutory and constitutional concerns. Further, BID policing practices may violate the legal rights of people experiencing homelessness and expose BIDs to criminal liability. The findings and legal concerns inform several key recommendations, spelled out in more detail in the report. First, the State Legislature should amend state laws that grant BIDs broad authority to collect and spend property assessment revenue and to operate largely independent of government oversight. Second, city governments should provide more careful scrutiny and regulation of BID activities within their jurisdictions. Finally, BIDs should assume
商业改善区(“商业改善区”)是由地方财产评估资助的私人实体,在管理加州城市的公共空间方面发挥着越来越大的作用。在20世纪60年代首次由州法律授权,以帮助振兴陷入困境的城市地区,bid在数量和影响力上都有了显著增长,特别是自1994年以来,州立法机构减少了对bid的公共监督,并扩大了其评估和支出权力。今天,大约有200个加州商业开发区每年收取数亿美元的强制性财产评估收入,这些收入用于各种各样的活动。研究人员和政策制定者很少注意到商业改良项目的兴起及其对市政和国家事务日益增长的影响。商业开发区通常位于商业集中的市中心地区。这些地区,特别是在加利福尼亚,经常有大量无家可归的人,包括许多没有住所的人。商业改善区和无家可归者的利益和活动在几个重要方面相互交叉和冲突,包括在公共政策、警务实践和社会服务领域。在本报告中,我们分享了关于加州商业改善区与无家可归者之间关系的研究结果。我们进行了文献回顾,研究了针对或不成比例地影响无家可归者的市政法律,研究了授权商业改善区(BIDs)的法律框架,并调查了加州69个最大城市的商业改善区。为了帮助解释这些来源的数据,我们对伯克利、奇科、洛杉矶、奥克兰、萨克拉门托、圣地亚哥和旧金山等城市的11个商业改善区进行了深入的案例研究,包括对公共记录的分析、对商业改善区官员的采访以及对无家可归者的调查和采访。我们的主要发现是,商业改善区通过政策倡导和警务实践,将无家可归者排除在其所在地区的公共空间之外。流浪者在社会服务中经历了BID的参与,作为一种额外的警务、监视和骚扰形式。我们的发现引发了几个法律问题。当商业开发区将财产评估收入用于地方和全州范围的政策宣传时,他们可能违反加州法律。BID在政策宣传上的支出,其收入来自对公有财产的评估,这引起了法律和宪法方面的特殊关注。此外,BID的警务做法可能侵犯无家可归者的合法权利,并使BID面临刑事责任。调查结果和法律问题为报告中更详细阐述的几项关键建议提供了依据。首先,州立法机构应修改州法律,赋予商业地产投资委员会广泛的权力来征收和支出财产评估收入,并在很大程度上独立于政府监督。其次,城市政府应该对其管辖范围内的商业开发区活动进行更仔细的审查和监管。最后,商业开发区应该对所有地区居民和游客承担更大的责任。
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引用次数: 11
Digital Governance in Developing Countries: Beneficiary Experience and Perceptions of System Reform in Rajasthan, India 发展中国家的数字治理:印度拉贾斯坦邦制度改革的受益者经验和看法
Pub Date : 2018-07-10 DOI: 10.2139/ssrn.3310458
A. Gelb, Anit Mukherjee, Kyle Navis
India is at the forefront of the use of digital technology to transform the way in which citizens interact with states. This paper provides a picture of the perceived impact of digitization reforms in Rajasthan, based on a survey of beneficiaries of several benefit programs. We find that, on balance, the reforms appear to have improved perceptions of service delivery despite some difficulties during the digitization process and the possibility—which we cannot fully assess with our data—that there could have been some degree of exclusion. The proportion of people preferring the new systems, at 40–60 percent, far exceeded the proportion who expressed a preference for the old system (5–12 percent). In the case of food and cooking gas subsidy reforms, the reason for the preference is relatively clear—they considered that the new systems gave them greater control over their entitlements and reduced the ability of others to claim their benefits or divert them. The main problems arise from biometric authentication. Shifting pensions from postal delivery to bank deposits is overwhelmingly supported, partly because of better regularity. Reforms in Rajasthan also had two cross-cutting goals: financial inclusion and women’s empowerment. Our survey confirms that virtually all respondents have bank accounts, often two or more per family, as do all heads of household who are officially mandated to be women. Two thirds of these women had not owned bank accounts before the reforms. Mobiles emerge, however, as a male preserve. This suggests a further frontier for policies and programs to shift India towards a digital society—ensuring that all people have the capacity to access and to use digital technology.
在利用数字技术改变公民与政府互动方式方面,印度走在了前列。本文基于对几个福利计划受益人的调查,提供了拉贾斯坦邦数字化改革的感知影响的图片。我们发现,总的来说,改革似乎改善了人们对服务提供的看法,尽管在数字化过程中存在一些困难,而且可能存在某种程度的排斥(我们无法用数据对其进行全面评估)。赞成新制度的人占40%到60%,远远超过了赞成旧制度的人占5%到12%。在食品和烹饪用气补贴改革的案例中,优先考虑的原因相对清楚——他们认为,新制度使他们对自己的权利有了更大的控制权,并减少了其他人要求或转移福利的能力。主要问题来自于生物识别认证。将养老金从邮政转移到银行存款的做法得到了压倒性的支持,部分原因是这种做法更有规律。拉贾斯坦邦的改革也有两个交叉目标:普惠金融和赋予妇女权力。我们的调查证实,几乎所有的受访者都有银行账户,通常每个家庭有两个或更多的银行账户,官方规定所有的户主都是女性。这些妇女中有三分之二在改革前没有银行账户。然而,手机却成了男性的专利。这表明,将印度转变为数字社会的政策和计划的进一步前沿——确保所有人都有能力访问和使用数字技术。
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引用次数: 8
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