Deregulation and regulation : exploring the diversity of media ownership in small media markets

The passage of the Telecommunications Act of 1996 represented the culmination of the theoretical shift in the philosophy of broadcast ownership regulation. After decades of government regulations maintaining the structure of local broadcast markets,policies of deregulation slowly began to restructure local media markets under a marketplace approach to broadcast regulation. This dissertation explored the consequences of shifting from a managed structure of regulation to an open market structure of deregulation in small media markets. In particular,this dissertation sought to answer research question and test hypotheses related to the public interest standards of ownership and content diversity under both types of regulatory philosophies. To answer the research question and test the hypotheses,this dissertation operationalized the public interest concept of media ownership and content diversity at the local market level. Using data from industry yearbooks about daily newspapers,television stations and radio stations in small metropolitan statistical areas, a database of information related to the number of owners,type of owners,news content and numerous other variables was created for a time period from 1972 to 1998. Multiple regression analyses tested the hypotheses. Overall,the statistical analysis suggested that there was a limited impact on ownership and content diversity when considering the gradual change from regulation to deregulation.However,the data analysis suggested that there has been a negative impact on ownership and content diversity since the Telecommunications Act of 1996 in the small markets.The results indicated that the Federal Communications Commission and other agencies should reconsider certain ownership policies in small media markets

Enterprise Restructuring and Firm Performance: A Comparison of Rural and Urban Enterprises in Jiangsu Province

We examine the contrast in the experience of ownership reforms between urban SOEs and rural TVEs using a panel of industrial enterprises in Nanjing municipality for the period from 1994 to 2001. Our objectives are twofold. First, we study how the reform program of “grasp the large and let go of the small” has been carried out in practice by comparing the patterns of enterprise restructuring in the SOEs and the TVEs. Second, we investigate how the alternative reform strategy has affected firm performance in terms of the growth of labor productivity, total factor productivity (TFP), profitability, and worker earnings. We find a sharp contrast in the reform strategies of the SOEs and TVEs in two respects. First, the changes in the SOE sector were more gradual and involved more limited transfer of property rights than did the reform of the TVEs. Secondly, the reforms in both sectors exhibited selection bias but in opposite directions, with worse performing ones being the principal targets of reforms, among SOEs, and better performing enterprises being more likely to be picked for privatization, among TVEs. Our analysis discerns strikingly strong, robust positive effects of ownership restructuring on the growth of labor productivity, TFP and profitability in the reformed SOEs, indicating that the evolutionary reform policy for the SOEs has successfully reversed the trends of declining productivity and profits in these enterprises in Nanjing. We also find that among reformed urban enterprises, those in which private ownership accounts for less than 50% of shares performed better than those in which the majority of shares are owned privately. We find mixed evidence for the TVEs: privatization had no effect on firm performance in a group fixed-effects model but significant, positive effects in a firm fixed-effects model.http://deepblue.lib.umich.edu/bitstream/2027.42/40054/3/wp668.pd

Who Will Benefit from ESOPs?

[Excerpt] In the past decade, the number of worker-owned firms or ESOPs (Employee Stock Ownership Plans) has been growing geometrically. The national law granting tax incentives to ESOPs was passed in 1975, and since then several other pieces of legislation promoting employee ownership have passed at the federal level and in eight state legislatures. As a result of the technical assistance and industrial revenue bonds that some states now provide for ESOP development, and as a result of demonstrable tax, productivity, labor relations and even marketing advantages, business has taken note of the ESOP option. Several thousand ESOPs have started and scores of reports on employee ownership have appeared in the popular press and in business and trade publications

Gradual Certified Programming in Coq

Expressive static typing disciplines are a powerful way to achieve high-quality software. However, the adoption cost of such techniques should not be under-estimated. Just like gradual typing allows for a smooth transition from dynamically-typed to statically-typed programs, it seems desirable to support a gradual path to certified programming. We explore gradual certified programming in Coq, providing the possibility to postpone the proofs of selected properties, and to check "at runtime" whether the properties actually hold. Casts can be integrated with the implicit coercion mechanism of Coq to support implicit cast insertion a la gradual typing. Additionally, when extracting Coq functions to mainstream languages, our encoding of casts supports lifting assumed properties into runtime checks. Much to our surprise, it is not necessary to extend Coq in any way to support gradual certified programming. A simple mix of type classes and axioms makes it possible to bring gradual certified programming to Coq in a straightforward manner.Comment: DLS'15 final version, Proceedings of the ACM Dynamic Languages Symposium (DLS 2015

Public Transport Options for East Asian Mega-cities

This paper provides insights of the current state of public transport in East Asian Mega-cities, their characteristics that make them different with other public transport systems in other parts of the world. A combination of high percentage of public transport use, existence of para-transit, poor service quality to respond with high level of motorizations are some of the features of urban public transport in East Asian developing cities. Data from Tokyo, Shanghai, Seoul, Taipei, Ho Chi Minh City, Manila, Jakarta, and Bangkok are analyzed to develop a thorough understanding on the specific features of public transport in the East Asian Mega-cities. Several reform policies and strategies are proposed, including promoting public transport technology to shift the competition from costs to quality, fare integration, suitable financing options, and an appropriate implementation timing, as well as developing a public transport hierarchy to suit the increasing demand for urban mobility

How transition paths differ: enterprise performance in Russia and China

We use enterprise data to analyse and contrast the determinants of enterprise performance in China and Russia. We find that in China, enterprise growth and efficiency is associated with rapid increases in factor inputs, but not correlated with ownership or institutional factors. However, in Russia, enterprise growth is not associated with increases in factor quantity (except for labor) or quality. The main determinants of company performance are instead demand and institutional factors at a regional level. We explore possible interpretations of these results, including the impact of institutional and managerial quality

Banking reforms, performance and risk in China

We investigate the impact of the banking reform started from 2005 on ownership structures in China on commercial banks’ profitability, efficiency and risk over the period 2000–2012, providing comprehensive evidence on the impact of banking reform in China. We find that banks on average tend to have higher profitability, lower risk and lower efficiency after the reforms, and the results are robust with our difference-in-difference approach. Our results also show that the Big 5 state-owned banks (SOCB) underperform banks with other types of ownership when risk is measured by non-performing loans (NPLs) over the entire study period but tend to have fewer NPLs than other banks during the post-reform period. Our results provide some supporting evidence on the ongoing banking reforms in China, suggesting that attracting strategic foreign investors and listing SOCBs on stock exchanges appear to be effective ways to help SOCBs deal with the problem of NPLs and manage their risk

The UK Transport Carbon Model : An integrated life cycle approach to explore low carbon futures

Peer reviewedPostprin