|
|
|
Sort Order |
|
|
|
Items / Page
|
|
|
|
|
|
|
| Srl | Item |
| 1 |
ID:
103527
|
|
|
|
|
| Publication |
2011.
|
| Summary/Abstract |
In the spring of 2009, the Romanian government has proposed a restructuring of the national power generation sector segment that is still owned by the state. As most of the power generation capacity is still state-owned, this restructuring will dramatically alter the competitive landscape of this sector. This paper is analyzing the rationale and principles of the restructuring as stated by government documents and officials, the assessment methodology and criteria proposed by the government, as well as the proposed final outcome of the restructuring initiative. Based on this critical assessment and the early results of the restructuring's implementation, we are able to make recommendations that can be considered for a revised restructuring approach.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2 |
ID:
162281
|
|
|
|
|
| Summary/Abstract |
High profile deals emphasize the costs of the merger and acquisition (M&A) process particularly when deals fail before closure. However, beyond anecdotal evidence, we do not know why some M&A deals in the electricity and gas industries are abandoned. We analyze a sample of over 5000 M&As in the electricity and gas industries. The three most important factors affecting M&A abandonment are if the acquirer engaged in a divestiture at the same time, whether the target firm was publicly owned, and if the acquirer already had a toe-hold (part ownership) in the target firm at the time of the M&A deal. An M&A deal is 10.17% less likely to be abandoned if the acquirer engaged in a divestiture at the same time. An M&A involving a publicly owned target firm is 9.87% more likely to be abandoned. Lastly, an M&A in which the acquirer had a toe-hold in the target company is 7.87% more likely to be abandoned. Our findings show that policy makers and practitioners should be aware that the M&A process is affected by often over-looked deal or firm specific factors.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
ID:
111148
|
|
|
| 4 |
ID:
110711
|
|
|
|
|
| Publication |
2011.
|
| Summary/Abstract |
A key selling point for the restructuring of electricity markets was the promise of lower prices. There is not much consensus in earlier studies on the effects of electricity deregulation in the U.S., particularly for residential customers. Part of the reason for not finding a consistent link with deregulation and lower prices was that the removal of transitional price caps led to higher prices. In addition, the timing of the removal of price caps coincided with rising fuel prices, which were passed on to consumers in a competitive market. Using a dynamic panel model, we analyze the effect of participation rates, fuel costs, market size, a rate cap and switch to competition for 16 states and the District of Columbia. We find that an increase in participation rates, price controls, a larger market, and high shares of hydro in electricity generation lower retail prices, while increases in natural gas and coal prices increase rates. We also find that retail competition makes the market more efficient by lowering the markup of retail prices over wholesale costs. The effects of a competitive retail electricity market are mixed across states, but generally appear to lower prices in states with high participation rates.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 5 |
ID:
153574
|
|
|
|
|
| Summary/Abstract |
In this article we examine the politics of state-owned enterprise (SOE) reform in South Korea, specifically the privatization of Korea Electric Power Corporation. We focus on the policymaking process among government agencies and actors involved in SOE reform. The policy actors are identified, as are their preferences—efficiency versus the public good—and the strategies adopted to pursue them. The case illustrates how a particular SOE reform policy can take a long time to work through as each stakeholder attempts to pursue its preferences using various political ideologies and strategies in ever changing social, economic, and political environments. We present the lessons of the case for SOE reform.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 6 |
ID:
101165
|
|
|
|
|
| Publication |
2010.
|
| Summary/Abstract |
This paper investigates changes in aggregate labor share in China during 1978 and 2007 with a particular focus on the 1995-2007 period during which official statistics report a drop of 12.45 percentage points in labor's share of national income (labor share). Our main findings are: (1) The reported fall in aggregate labor share is overstated. According to the official statistics released by the NBS (2007a), the labor share fell 5.25 percentage points from 2003 to 2004. However this dramatic decline, 42.16% of the total reported decline of the labor share from 1995 to 2007, is completely due to the changes in the way NBS break down the operating surplus state-owned and collective-owned farms and the mixed income of the owners of individual economy; (2) For the last three decades, two main forces have been driving shifts in the aggregate labor share: (i) structural transformation between the agriculture and non-agriculture sectors and (ii) shifts in the labor share within the industry sector; (3) From 1995 to 2003, these two effects are both negative and together drive down aggregate labor share by 5.48 percentage points. The structural change explains 61.31% of the decline and the remaining 38.69% of the decline is due to the changes in the labor share within sectors, primarily in the industry sector; (4) Labor share in agriculture is lower than labor share in services. Therefore, when the service sector grows relative to the agriculture sector in the economy, the aggregate labor share of income declines; and (5) Restructuring of the SOEs and expanded monopoly power are the main reasons for the decline of labor share within industry after 1998. Relative price shifts, the factor input ratio, and biased technological progress are all insignificant forces for this decline because the substitution between factors in the industry sector is nearly unit elastic.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 7 |
ID:
148216
|
|
|
|
|
| Summary/Abstract |
The Chinese People’s Liberation Army (PLA) is halfway through a multi-decade modernization process. It has begun a major restructuring effort as it shifts its focus from a traditional continental defensive posture to a more maritime-oriented emphasis. In order to create more balanced joint force, it has adjusted the structure of its highest command organization, the Central Military Commission; abolished the former four General Departments and seven Military Regions; created five new joint Theater Commands and service-level commands for the Army and Rocket Force; and is reducing the size of its active duty force by 300,000 personnel. While seeking to overcome numerous internal obstacles, the PLA continues to develop and improve its capabilities to conduct integrated joint operations to deter a variety of threats to China’s sovereignty and territory and, if deterrence fails, to win informationized local war.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 8 |
ID:
179393
|
|
|
|
|
| Summary/Abstract |
This paper describes and analyzes data from a number of Modern Iranian dialects spoken in Khorasan in the east of Iran which are unusual among the other Western Iranian languages in that they have grammaticalized a split tense-sensitive alignment in indexation, compared to other Iranian languages whose indexation splitness is sensitive to both tense and transitivity. These dialects are the former dialect of Birjand in the late nineteenth and early twentieth century, the present-day dialect of Ferdows, Khanik, and Se-Ghal’e. The findings are put in the context of the available data from the Classical Persian texts to show that the tense-sensitive splitness mentioned above is traceable in those texts. A number of external factors are discussed which seem to have been influential in the restructuring of the split-alignment of the former dialect of Birjand into a uniformly nominative-accusative alignment in terms of indexation as observed in the present-day dialect of Birjand. It is proposed that this restructuring is an instance of simplification. The three other dialects cited above are endangered in the sense that they can undergo the same kind of restructuring as happened to the dialect of Birjand.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 9 |
ID:
127625
|
|
|
|
|
| Publication |
2013.
|
| Summary/Abstract |
Based on an analysis of the changes going on in the sectoral structure of Tajik industry, this article justifies the need to carry out its regular restructuring.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 10 |
ID:
095130
|
|
|
|
|
| Publication |
2010.
|
| Summary/Abstract |
The conflict in Nagorno-Karabakh represents the failure of mediation efforts in the context of a prolonged and successful ceasefire which has created disincentives for compromise. Today's difficult negotiation atmosphere originates from perceiving the conflict as primarily an ethnic problem couched in the rhetoric of a territorial dispute. Further, a prolonged and successful ceasefire has entrenched powerful economic and political interests on both sides which stand to gain from continued limbo. With this in mind, the Minsk Group should shift its focus to the implementation of confidence-building measures between the authorities on both sides as well as the three societies involved. Secondly, the Minsk Group co-chairs can no longer just serve as peace brokers, but must be co-signers to the negotiated agreement, emphasizing their role as guarantors of a long-term peace between Armenians and Azeris. Finally, any long-term agreement will have to include aspects of mutual economic development, cross-cultural exchange, and socio-political understanding.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 11 |
ID:
052299
|
|
|
|
|
| Publication |
Oct 2004.
|
| Summary/Abstract |
In this paper, the opportunity for the inter-regional integration of the electricity market in East China is analysed on the basis of strategies for the future expansion of the electricity generation system. We assume that during its first stage, the operational breakthrough of the electricity sector reform in China will be to achieve an economic dispatch of the generating plants. On the basis of this assumed goal a multi-region model is proposed to appraise the potential benefits of an integrated inter-regional electricity market. This model includes: propositions on design and operation of the market, electricity demand forecasting, least-cost generating system expansion. As case study, three strategies of electricity supply are assessed in two provinces: Shandong and Shanghai in East China. While Shandong is a potential electricity exporter due to availability of primary energy resources, Shanghai is an electricity importer. The strategies include: autarkical expansion of each regional system, import/export only for minimizing operation costs, integration of the system expansion for minimizing total costs including operation and investment costs. One of the findings is that building up an inter-regional integrated electricity market is profitable for both the Shanghai and Shandong regions compared with the two other strategies, if the future regulation makes it possible to insure an economic dispatch of the generating power plants.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 12 |
ID:
094903
|
|
|
|
|
| Publication |
2010.
|
| Summary/Abstract |
This article investigates the deregulation of the Swedish electricity industry as a political process. Discussions about deregulation started in the late 1980s. A first step in the process was the corporatization of the Swedish state-owned utility Vattenfall in 1992. The deregulatory process culminated with the new Electricity Law, which entered into force in 1996. We investigate in historical depth how a diverse range of actors contributed to shaping both the new institutional environment and the political discourse. The article scrutinizes not only the formal political decision-making process and the activities of a variety of ministries, boards and agencies, but also the processes by which energy companies and other relevant industrial actors influenced the outcome of the regulatory reforms. We explicitly focus on activities taking place on both political and business arenas, showing that major stakeholders acted on several arenas simultaneously to influence the deregulatory process and that the large power companies were most skilful in doing so. We also show that activities on the political and business arenas mutually reinforced each other in shaping the new regulatory framework.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 13 |
ID:
133080
|
|
|
|
|
| Publication |
2014.
|
| Summary/Abstract |
Measuring variations in efficiency and its extension, eco-efficiency, during a restructuring period in different industries has always been a point of interest for regulators and policy makers. This paper assesses the impacts of restructuring of procurement in the Iranian power industry on the performance of power plants. We introduce a new slacks-based model for Malmquist-Luenberger (ML) Index measurement and apply it to the power plants to calculate the efficiency, eco-efficiency, and technological changes over the 8-year period (2003-2010) of restructuring in the power industry. The results reveal that although the restructuring had different effects on the individual power plants, the overall growth in the eco-efficiency of the sector was mainly due to advances in pure technology. We also assess the correlation between efficiency and eco-efficiency of the power plants, which indicates a close relationship between these two steps, thus lending support to the incorporation of environmental factors in efficiency analysis.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 14 |
ID:
096232
|
|
|
|
|
| Publication |
2010.
|
| Summary/Abstract |
Using firm-level data for China's state-owned coal mines, this paper examines the impact of privatization, corporatization and debt restructuring of state-owned enterprises on technical efficiency. A stochastic frontier production method is applied to a panel dataset from 2000 to 2007. The simultaneous study of these three measures makes it possible to study individual effects more precisely than otherwise. The study shows that the three reform initiatives are all able to improve technical efficiency in state-owned coal mines. The finding of a significant efficiency improvement from relinquishing state ownership provides an alternative to privatization. The study of debt restructuring and technical efficiency has not been documented in the published literature.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 15 |
ID:
105457
|
|
|
|
|
| Publication |
2011.
|
| Summary/Abstract |
This paper broadly deals with two important aspects. First, it analyses various security challenges that India is facing at present; and second, it examines the need for restructuring the Indian Armed Forces to address these security challenges. It explains that India is in a two front situation with China to the
north and Pakistan to the west. Left Wing Extremism and jihadi terror form a half or a third front. The core of any Indian grand strategy must focus on dealing with these threats sequentially and never simultaneously. India will have to rely upon its own resources to safeguard its vital national interests. In the years ahead it will increasingly be called upon to respond to ever greater challenges from within its geo-political environment. It concludes by stating that great civilisations arise only in response to such challenges.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 16 |
ID:
147797
|
|
|
|
|
| Summary/Abstract |
The authors review different types of planning as a control function. They provide an essential analysis of strategic and budgetary strategic planning, directed toward creating an integrated target program for the financial activity of enterprises, including those of the defense-industrial complex.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 17 |
ID:
108656
|
|
|
|
|
|
|
|