IUJ Repository (International Univ. of Japan)
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Coalition Payoffs in Parliamentary Democracies
Get PDFIn parliamentary democracies, parties negotiate with each other to form a coalition, and the resulting portfolio allocation reflects their bargaining outcome over coalition payoffs. This study demonstrates that the share of portfolios given to the prime minister's party often reflects neither proportionality nor formateur advantage theories because portfolios are used to defuse tensions among coalition partners as well as to reward them for joining a coalition. The empirical work shows that the prime minister's party surrenders more portfolios not only as its bargaining power in assembling a coalition declines, but also as the policy preferences of coalition partners become more divergent because of the need to put together the coalition.departmental bulletin pape
Country and Industry Concentration and the Performance of International Mutual Funds
Get PDFWe examine the relationship between portfolio country versus industry concentration and performance using a hand-matched data set of international equity funds. When sorted by concentration measures, funds in the most concentrated quintile outperform the diversified quintile by 0.16% and 0.30% monthly in country and industry dimensions, respectively. Further analysis shows that the superior performance of concentrated funds is largely driven by industry rather than country concentration, suggesting the existence of global industry private information. Finally, we show that industry-concentrated funds rotate top-holding industries less frequently than their diversified counterparts and the industries they purchase subsequently outperform the industries they sell.departmental bulletin pape
Further investigation of natural resources and economic growth : Do natural resources depress economic growth?
Get PDFOne of the surprising findings in the economic development literature is that natural resource-rich countries tend to have slower economic growth than resource-poor countries, i.e., the natural resource curse and Dutch disease. In this paper, we revisit these issues by applying quantile regression and using the most updated data. The results demonstrate that resource-intensive countries in 1970 suffered from slower economic growth than resource-poor countries over the next 20 years, consistent with Sachs and Warner (1995, 1997, 2001). However, contrary to initial expectation, we find that natural resource abundance in 1990 had positive impacts on economic growth between 1990 and 2010. We further test the Dutch disease theory, and the result contradicts the hypothesis. Overall, our analysis suggests that in the period from 1970 to 1990, the hypotheses of a resource curse and Dutch disease hold. However, in the period from 1990 to 2010, these hypotheses no longer hold because manufacturing sectors have grown suffciently even in resource-rich countries.departmental bulletin pape
Fairness and job satisfaction of Japanese multinationals in Asia
Get PDFWe explored how fairness perceptions of HR practices affect job satisfaction among Asian managers of MNC subsidiaries, controlling age, gender, job tenure, previous work experiences, and management positions. Our fairness study focus described the effect of procedural justice and that of the transparency, which we have added as a new justice construct that is an organizational level of informational justice. We applied a performance evaluation system as an HR practice implemented over the MNC subsidiaries. Our research participants comprised of 903 Asian managers who worked for a leading Japanese multinational strategically expanding retail business markets in Asian locations: Japan, China, Hong Kong, Malaysia, and Thailand. Our key results revealed that both procedural and transparent fairness perceptions of the HR practice significantly influenced job satisfaction of Asian managers as a whole group. Each regional group also mostly exhibited a strong connection between their fairness perceptions of both procedures and transparency, and their job satisfaction. Finally, we discussed the implication of this study.departmental bulletin pape
Fiscal Stimulus in an Endogenous Job Separation Model
Get PDFThis paper re-visits effects of fiscal expansion on employment and unemployment by focusing on both hiring and firing margins. We develop a dynamic stochastic general equilibrium model with labor search frictions in which job separation is endogenously determined. We study effects of fiscal stimuli in the form of government spending and hiring subsidies. The prediction of our model is in contrast with earlier studies that assume exogenous job separation. First, our model generates a larger size of the impact of a government spending shock on labor market variables than the model without endogenous separation. Second, while an increase in hiring subsidies increases employment and reduces unemployment in the model without endogenous separation, it reduces employment and increases unemployment in our model.departmental bulletin pape
The Web Accessibility Crisis of Korea's Electronic Government: Fatal Consequences of the Digital Signature Act and Public Key Certificate
Get PDFKorea's e-government ranked top in e-government benchmarking for the past five years but showed relatively lower scores in Web accessibility. As a result of the Digital Signature Act, public key certificate was introduced and digital certificate software was developed using de facto technology standards, Microsoft ActiveX. Government, certificate authorities, and certificate consumers all overlooked the implications of using Microsoft standards and ignored criticisms of those who do not use Microsoft products. Government failed to implement digital signature policy successfully. Its consequences include unbelievable Microsoft monopoly with almost 99 percent market shares of Microsoft products, chronic addiction to Microsoft standards, bad computing practices, and fatal Web accessibility problems. ActiveX should be removed immediately to support diverse operating systems and Web browsers. Eventually current client-side certificate should be switched to server-side system. This paper calls for careful evaluation of Korea's e-government.departmental bulletin pape
Growth and Non-Regular Employment
Get PDFThe share of non-regular employment has been increasing in many developed countries during the past two decades. The objective of this paper is to study a cause of the upward trend in non-regular employment by focusing on productivity growth. Data from Japan shows that productivity growth reduces both unemployment and the proportion of nonregular workers to total employed workers. In order to study the impact of long-run productivity growth on unemployment and non-regular employment, I develop a search and matching model with disembodied technological progress and two types of jobs, regular and non-regular jobs. The numerical analysis demonstrates that faster growth reduces the share of non-regular employment, but the effect of faster growth on unemployment is ambiguous.departmental bulletin pape
A Return on Investment Approach to Training Evaluation in Public Sectors
Get PDFThe primary purpose of this study is to explore how to apply a return on investment (ROI) technique for evaluate training programs of public sectors according to the training evaluation paradigm proposed by Phillips. In line with his paradigm, we also examined the effect of training programs on behavioral outcomes by applying ordinary methods against knowledge and skills development and performance improvements. Due to the unique nature of public sector business process, we developed modified data-gathering instruments properly fitted to a training program of public sectors. We investigated the Intermediate Auditor Training Program by Directorate General of Taxes of Indonesia and analyzed 113 auditors who took this training program. Our analysis illustrated that the ROI method was effectively applied for the program evaluation of the public sector. In addition, we also confirmed that the other ordinary methods made differences how to assess knowledge and skills development as well as performance improvements in the public organizational context. Consequently, we have concluded that the ROI evaluation technique will be a useful tool to determine how training programs offered in public sectors are effective in view of financial benefits.departmental bulletin pape
Disruption Management for Commercial Aviation
Get PDFAirlines are constantly facing operational disruptions such as reduced airport capacity because of bad weather or strikes, unexpected aircraft unavailability due to mechanical failures, and delayed or cancelled flights. In view of this, ROADEF organized a worldwide challenge to explore the problems encountered in real world airlines when disruptions happen and find approaches to tackle them. In this paper, a new continuous time aircraft routing model is developed which can minimize aircraft delay cost accurately and efficiently handle all types of disruptions encountered in ROADEF. Applying a new decomposition algorithm, near optimal solutions for aircraft routing can be obtained. A passenger re-accommodation model is solved subsequently using the results from the aircraft routing model as input. Competitive results are obtained applying the proposed approach to instances provided by ROADEF.departmental bulletin pape
初級者が遭遇した問題と言語管理過程を解明してコース改善に反映する試み : インタビューからの示唆を生かして
Get PDF初級学習者が日本語接触場面において、どのような問題に遭遇し、その問題に対してどのような言語管理を試みたのかをインタビューによって解明し、そこから得られた知見をいかにコース設計に反映すべきかについて考察する。特に食材選択と交通機関の利用に関する2つのリテラシーに限定して、基礎コースの改善策を探る。departmental bulletin pape