Regulation, governance and informality: an empirical analysis of selected countries

The Informal Economy provides employment to more than 60 per cent of the labour population in the developing world despite being a site unfettered by regulations and social norms of fairness governing pay and work conditions. In assessing the factors behind an informal agent’s decision to formalize, it is asserted that rigidity in regulatory mechanism is the primary cause that impedes the process of formalization. However whether flexible regulations can encourage formalization by making gains of formalization more accessible and certain remains a question. In this paper we argue that flexible regulations does not necessarily manifest into the incentives that are essential for formalization. Reducing rigidities in regulation has a significant pay off only in the ambit of good governance. More specifically we hypothesise that degree of intensity of regulation will hardly matter in containing informality; rather what matters is the quality of governance and capability of the institutions to put the regulations into effect. Using secondary data for 46 countries over the period between 1980 and 2008, we empirically investigate into the linkages between governance, regulation and informal employment by developing static and dynamic panel data models and establish that in curbing informality what turns out to be crucial is the interaction between quality of governance and regulation

Recognizing Risk in Human Capital Investments: A Real Options Approach to Strategic Human Resource Management

An issue that has not yet been explored in the field of strategic human resource management (SHRM) is that of managing the ‘risks’ involved in human capital management of the firm. We address this issue using the real option theory framework. We argue that certain HR practices manage risk and generate opportunities for the firm by creating \u27options\u27 for its human capital management. These HR options help ensure stability of returns from human capital and thus sustain competitive advantage. Different types of HR options and the role of certain HR practices in creation of these options are discussed

On the Chern number of II-admissible filtrations of ideals

Let $I$ be an \m-primary ideal of a Noetherian local ring (R, \m) of positive dimension. The coefficient $e_1(\mathcal I)$ of the Hilbert polynomial of an $I$-admissible filtration $\mathcal I$ is called the Chern number of $\mathcal I$. A formula for the Chern number has been derived involving Euler characteristic of subcomplexes of a Koszul complex. Specific formulas for the Chern number have been given in local rings of dimension at most two. These have been used to provide new and unified proofs of several results about $e_1(\mathcal I)$

Options for Human Capital Acquisition

An \u27options\u27 view of human capital acquisition explains value creation through timedeferred, sequential, path-dependent investment choices and addresses gaps in the resourcebased theory explanation of the relationship between human resources and competitive advantage. Firms will invest in options for human capital, using alternative employment arrangements like temporary/contractual/part-time workers and internships, or by outsourcing the work, when uncertainty associated with human capital is high and investments in human capital are largely irreversible. We discuss various options for skills and employees, two interrelated components of human capital. These are flexibility options, options to wait or defer, options to abandon, learning options, and switching options. The opportunity cost of not having options is quantifiable, which makes the real options approach valuable for strategic HRM decisions

A Study of the Effect of Bulges on Bar Formation in Disk galaxies

We use N-body simulations of bar formation in isolated galaxies to study the effect of bulge mass and bulge concentration on bar formation. Bars are global disk instabilities that evolve by transferring angular momentum from the inner to outer disks and to the dark matter halo. It is well known that a massive spherical component such as halo in a disk galaxy can make it bar stable. In this study we explore the effect of another spherical component, the bulge, on bar formation in disk galaxies. In our models we vary both the bulge mass and concentration. We have used two sets of models, one that has a dense bulge and high surface density disk. The second model has a less concentrated bulge and a lighter disk. In both models we vary the bulge to disk mass fraction from 0 to 0.7. Simulations of both the models show that there is an upper cutoff in bulge to disk mass ratio M b /M d above which bars cannot form; the cutoff is smaller for denser bulges( M b /M d = 0.2) compared to less denser ones (M b /M d = 0.5). We define a new criteria for bar formation in terms of bulge to disk radial force ratio (F b /F d ) at the disk scale lengths above which bars cannot form. We find that if F b /F d > 0.35, a disk is stable and a bar cannot form. Our results indicate that early type disk galaxies can still form strong bars in spite of having massive bulges.Comment: Accepted at MNRAS,12 pages, 19 figure