Academic literature on the topic 'Policy board independence'

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Journal articles on the topic "Policy board independence"

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Benjamin, Iorsue Awen, Aliyu Lamido Ismaila, and Adabenege Yahaya Onipe. "Board size, independence and dividend policy in Nigeria." International Journal of Economics and Finance 15, no. 5 (2023): 72–91. https://doi.org/10.5281/zenodo.7884410.

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<strong><em>Abstract</em></strong> Using a sample of 1,120 firm year observations over the 2012-2021 period, we provide the first evidence on the impact of board of directors on dividend policy in Nigeria. Board of directors was measured by board size and board independence, while dividend policy was measured by dividend paid per share. Using Ordinary Least Squares (OLS) Method, we find that board size and board independence have significant effects on listed firms dividend policy. In Nigeria. Consistent with the agency theory and signaling hypotheses, we find that this result is more pronounc
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Henry, Emmauel, and Ahmad Yahaya. "Board Composition and Dividend Policy Decisions." Management Science and Strategic Decision-Making 11, no. 1 (2024): 31–79. https://doi.org/10.26934/mssd.v11i1.2024.

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This study investigates the effect of board composition on dividend policy decisions in 153 publicly listed firms, focusing on how characteristics such as gender diversity, independence, and board size influence corporate dividend payout practices. The purpose is to provide empirical insights into the governance mechanisms impacting dividend policies, which play a critical role in shareholder value and corporate financial strategy. Covering a period from 2014 to 2023, this study examines a panel dataset of publicly traded companies from multiple industries, using random effects regression anal
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EKPULU, Dr Godspower Anthony, and Dr Okubokeme Derek OPUDU. "Board Characteristics and Dividend Pay-Out Policy in Nigerian Consumer Good Firms." Saudi Journal of Business and Management Studies 9, no. 11 (2024): 257–65. http://dx.doi.org/10.36348/sjbms.2024.v09i11.003.

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This study interrogates the interplay between board attributes and dividend payout policy amongst listed in Nigerian manufacturing firms. The research focuses on various board attributes, including board size, board independence, gender diversity, and board ownership, to determine their influence on the dividend decisions of firms. Using panel data from a sample of Nigerian manufacturing companies listed on the Nigerian Stock Exchange (NSE) from 2013 to 2022, the study employs multiple regression analysis to evaluate the effect of these variables on dividend per share. The results indicate tha
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Md., Rezaul Karim, Kumar Mitra Ranjan, and Khan Ibrahim. "Determinants of Board Independence in the Banking Sector of Bangladesh." Journal of Economics and Business 3, no. 1 (2020): 65–81. https://doi.org/10.31014/aior.1992.03.01.178.

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This paper examines the determinants of board independence in the banking sector of Bangladesh. The study applies a multivariate panel regression analysis for the thirty banks listed with DSE covering the period from 2006 to 2016. We use the proportion of independent directors to total number of directors on the board to measure board independence. Findings of the empirical analysis show that a board is likely to be more independent when independent directors have relevant skill and knowledge as required by prevailing corporate governance regulation. Besides, this paper finds that the boards o
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Abidin Sahabuddin, Zainal, and Bram Hadianto. "The effect of board governance and debt policy on value of non-financial firms." Investment Management and Financial Innovations 16, no. 2 (2019): 37–46. http://dx.doi.org/10.21511/imfi.16(2).2019.04.

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Supervisory board plays an essential role to implement good governance in firm. If this governance is implemented well, the increase in firm value will occur. Related to this statement, the main question that appears is about the number and independence rate of supervisory board members needed to enhance firm value. Besides supervisory board, debt policy holds an important role for firm because of bankruptcy issue. Firm with good governance tries to avoid this issue by decreasing the amount of its debt to create high value.The aim of this study is to test and analyze the effect of board govern
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Muniandy, Balachandran. "Audit fees, board ethnicity and board independence: evidence from South Africa." Managerial Auditing Journal 37, no. 4 (2022): 409–37. http://dx.doi.org/10.1108/maj-06-2020-2697.

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Purpose The purpose of this paper is to examine the relationship between ethnic diversity on corporate boards and audit fees in the context of South Africa. Additionally, this paper investigates how the interaction between board ethnicity and board independence affects audit fees. Design/methodology/approach This study uses a quantitative research method with a panel data analysis to test proposed hypotheses. This study’s sample consist of listed firms on the Johannesburg Stock Exchange (JSE) from 2003 to 2018. Findings This study finds that firms with more Black directors on corporate board h
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Hamdan, Allam Mohammed. "Dividend policy, agency costs and board independence." International Journal of Critical Accounting 10, no. 1 (2018): 42. http://dx.doi.org/10.1504/ijca.2018.091180.

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Hamdan, Allam Mohammed. "Dividend policy, agency costs and board independence." International Journal of Critical Accounting 10, no. 1 (2018): 42. http://dx.doi.org/10.1504/ijca.2018.10012244.

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Akaro Mainoma, Prof Mohammed, Prof Solomon Aza, and Obed Bontur Ishaku. "Effect of Corporate Governance Attributes on Financial Risk Disclosures of Listed Deposit Money Banks in Nigeria." Journal of Software Engineering and Simulation 11, no. 6 (2025): 37–49. https://doi.org/10.35629/3795-11063749.

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This study investigates the effect of corporate governance attributes on financial risk disclosures among listed Deposit Money Banks (DMBs) in Nigeria. Specifically, it examines the impact of board independence, board size, board financial expertise, ownership concentration, and risk committee independence on the quality of financial risk disclosures, utilizing secondary data from the annual reports of 14 listed DMBs between 2014 and 2023. The study employs logistic regression analysis to determine the relationship between these governance attributes and financial risk disclosures. The finding
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Sungip, Noraisah, Syahrul Ahmar Ahmad, and Halil Paino. "Boardroom Diversity and Whistleblowing Disclosure: Empirical Evidence from Malaysia’s Top 100 Publicly Listed Companies." Information Management and Business Review 16, no. 3S(I)a (2024): 1104–19. http://dx.doi.org/10.22610/imbr.v16i3s(i)a.3899.

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The disclosure of whistleblowing policies is a critical component of effective corporate governance. High standards of whistleblowing policy disclosure signal a company’s commitment to safeguarding stakeholder interests. This research aims to analyze the relationship between board composition and whistleblowing policy disclosure in the top 100 Malaysian publicly listed companies. Specifically, the study investigates whether board independence, board size, the frequency of board meetings, and board gender diversity affect the level of whistleblowing policy disclosure. The relationships between
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Dissertations / Theses on the topic "Policy board independence"

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Shan, Liwei. "Board independence, excess cash and corporate payout policy /." view abstract or download file of text, 2006. http://proquest.umi.com/pqdweb?index=0&did=1196409441&SrchMode=1&sid=1&Fmt=2&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1176828116&clientId=11238.

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Thesis (Ph. D.)--University of Oregon, 2006.<br>Typescript. Includes vita and abstract. Includes bibliographical references (leaves 104-109). Also available for download via the World Wide Web; free to University of Oregon users.
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Mehedi, Sohel. "Social value relevance corporate governance and organizational outcome." Phd thesis, Australian Catholic University, 2025. https://acuresearchbank.acu.edu.au/download/385ff450a9507480e18aa9af84555e2094379320d46b7d79c3585f952bac8718/2397265/Mehedi_2025_Social_value_relevance_corporate_governance_and.pdf.

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We utilize unbalanced panel data from Refinitiv Eikon covering 9,960 global firms from 2002 to 2022. We conduct a panel regression analysis to find out the association between independent and dependent variables. In addition, we estimate entropy balancing estimation, the two-step system generalised method of moments (GMM) and the generalised estimating equation (GEE) to address endogeneity issues. In the current study, we investigate four models. The aim of our first model is to investigate the association between board demographic, structural, and capital diversity, and corporate carbon perfo
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Books on the topic "Policy board independence"

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Whitworth, Alan. Public enterprise policy: Independence to 1991. Institute of National Affairs, 1993.

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Library of Congress. Congressional Research Service, ed. The economics of Federal Reserve independence. Congressional Research Service, Library of Congress, 1990.

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Chemerinsky, Erwin. An independent analysis of the Los Angeles Police Department's Board of Inquiry Report on the Rampart scandal: Prepared at the request of the Police Protective League. s.n.], 2000.

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The power and independence of the Federal Reserve. Princeton University Press, 2016.

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Binder, Sarah, and Mark Spindel. Myth of Independence: How Congress Governs the Federal Reserve. Princeton University Press, 2019.

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Binder, Sarah, and Mark Spindel. Myth of Independence: How Congress Governs the Federal Reserve. Princeton University Press, 2017.

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Conti-Brown, Peter. Power and Independence of the Federal Reserve. Princeton University Press, 2017.

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Conti-Brown, Peter. Power and Independence of the Federal Reserve. Princeton University Press, 2016.

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Conti-Brown, Peter. Power and Independence of the Federal Reserve. Princeton University Press, 2017.

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author, Spindel Mark 1966, ed. The myth of independence: How Congress governs the Federal Reserve. Princeton University Press, 2017.

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Book chapters on the topic "Policy board independence"

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Sotiropoulos, Marios, Michalis Skordoulis, Petros Kalantonis, and Aristidis Papagrigoriou. "The Impact of Board Diversity on Firms’ Performance: The Case of Retail Industry in Europe." In Strategic Innovative Marketing and Tourism. Springer Nature Switzerland, 2024. http://dx.doi.org/10.1007/978-3-031-51038-0_85.

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AbstractThe aim of this paper is to examine the relationship between board diversity and firms’ performance. The board of directors is the highest decision-making body responsible for governing an organization on behalf of its shareholders. It performs key functions like strategy formulation, policy development, monitoring, supervising, providing leadership, and accountability. An optimal board composition is crucial for effective corporate governance and is found to have a significant influence on firms’ performance. At the same time, board diversity is reported to have a significant impact o
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"Conducting Monetary Policy with a Collegial Board: The New Swedish Legislation One Year On." In Central Bank Independence. Brill | Nijhoff, 2001. http://dx.doi.org/10.1163/9789004481305_006.

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Dawar, Gaurav, and Shivangi Bhatia. "The Impact of Board Composition and Ownership Structure on Dividend Payout Policy." In Advances in Finance, Accounting, and Economics. IGI Global, 2024. http://dx.doi.org/10.4018/979-8-3693-8954-6.ch007.

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This investigation delves deep into the intricate dynamics underpinning dividend payout policy within Indian firms from 2019 to 2022, focusing on the multifaceted effect of board composition such as board size, independence, CEO duality, frequency of board meetings, state ownership, foreign ownership, gender diversity, and bureaucratic considerations on dividend policy. The study employs regression analysis, encompassing logistic, ordinary least squares (OLS), and fixed effects regressions. Drawing from a rich and extensive dataset of listed Indian family firms, it navigates the complexities i
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Randa, Isaac Okoth. "Corporate Governance Mechanisms for Sustainable Healthcare Service Delivery in Public Hospitals." In Advances in Public Policy and Administration. IGI Global, 2023. http://dx.doi.org/10.4018/978-1-6684-6966-8.ch002.

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Poverty alleviation for attainment of the Millennium Development Goals requires an effective public sector that sustainably delivers quality public services consistent with citizen preferences. Hence, focusing on corporate governance mechanisms, this study investigates the influence of corporate governance mechanisms on healthcare service delivery at a local public hospital. Using a qualitative research strategy on a sample of 24 participants representing the Health Professions Council of Namibia (HPNCA), Katutura state hospital management, and out-patients, data was generated. ATLAS.ti – 8 so
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da Silva Teixeira, Yago, Lívia Maria da Silva Santos, Risolene Alves de Macena Araújo, and Adriana Rodrigues Silva. "Exploring the Link Between Corporate Governance and R&D Investments on Brazilian Listed Companies." In Global Trends in Governance and Policy Paradigms. IGI Global, 2024. http://dx.doi.org/10.4018/979-8-3693-1742-6.ch007.

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Research and development (R&amp;D) are an important issue for companies in a wide range of sectors, as they generate innovation, productivity, and sustainability, which are important factors for competitive advantage. To analyze which corporate governance mechanisms influence R&amp;D investment by B3-listed companies, a fixed effects panel regression analysis was performed from 2010 to 2020. From a universe of 477 companies, a sample of 61 companies that spent at least one year on R&amp;D was drawn. The results show that despite the hypotheses that board independence, ownership concentration,
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Lie, Einar. "In Search of an Anchor." In Norges Bank 1816-2016. Oxford University Press, 2020. http://dx.doi.org/10.1093/oso/9780198860013.003.0014.

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This chapter details how, in 1993, Norges Bank argued in favour of supplementing the fixed exchange rate target, and in 1997 in favour of replacing it with an inflation target, with a view to maintaining inflation at a low and stable level. The introduction of an inflation target provided Norges Bank with greater scope for the exercise of independent judgement. Controversial increases in the policy rate in 2000 and 2002 demonstrated that Norges Bank was willing to use its increased independence. Moreover, amendments to the Norges Bank Act in 2003 weakened the scope of action available to the g
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Ruz, Andrés Baeza. "Cultural Encounters Offshore." In Contacts, Collisions and Relationships. Liverpool University Press, 2019. http://dx.doi.org/10.3828/liverpool/9781786941725.003.0003.

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During the wars for independence Britain maintained a policy of neutrality between Spain and its colonies. As a result, relations between Chile and Britain were largely enacted by ‘non–state’ actors. This chapter delves into the role played by one of these ‘non–state’ actors: British seamen who participated in the newly created Chilean navy from 1817 and their interactions with their Chilean counterparts. The analysis of the inter–personal interactions that took place on board reinforces the argument that Chile’s Independence era cannot be considered a prelude to the neo–imperial relations est
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Khan, Muhammad Atif, Muhammad Asif Khan, and Idrees Liaqat. "Role of Corporate Governance in Shareholders Value Creation." In Operations and Service Management. IGI Global, 2018. http://dx.doi.org/10.4018/978-1-5225-3909-4.ch017.

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The mechanism of governing corporate affairs in line with strategic goal of shareholders' value creation (SVC) has been pivotal debate among academic and institutional scholars over last few decades. Most of the studies in developing countries including Pakistan, have considered more conventional measures, like firm financial performance to examine the impact of corporate governance (CG). Theoretically, firm financial performance optimization has little role in maximizing SVC, that rarely streams to shareholders' exchequer. Therefore, the study is unique in its nature that identifies market ca
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Manda, Vijaya Kittu, and Lubza Nihar Khaliq. "Corporate Governance Failure and the Regulatory Fight Against It." In Cases on Uncovering Corporate Governance Challenges in Asian Markets. IGI Global, 2023. http://dx.doi.org/10.4018/978-1-6684-9867-5.ch002.

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India has recently witnessed several allegations of corporate governance lapses and failure. The alarming situation prompted the government and the regulators to take serious note to make the companies accountable for the allegations and to bring in regulations to contain the policy leaks. The governing body and the board of directors must abide by ethical standards, demonstrating an unwavering commitment to discipline, transparency, fairness, and accountability for their actions. This work uses a case study approach to examine various recent corporate governance failures in India. The examina
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Wight, Martin. "The Balance of Power and International Order." In Foreign Policy and Security Strategy. Oxford University PressOxford, 2023. http://dx.doi.org/10.1093/oso/9780192867889.003.0003.

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Abstract Except for perhaps one speech by Demosthenes, classical antiquity offered the Renaissance “no more than the simple rule of balancing your enemies off against one another.” Commynes in the fifteenth century provided “the first recognition that the rivalries within the states-system fall into a kind of chequer-board pattern, where contiguous states tend to be hostile to one another, and their mutual hostility can be a restraint upon both.” The coalition against Philip II provided “the beginnings of the grand alliance, the master-institution of the balance of power.” During the two centu
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Conference papers on the topic "Policy board independence"

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Gürünlü, Meltem. "Foreign ownership as a corporate governance mechanism affecting the firm value." In Corporate governance: Participants, mechanisms and performance. Virtus Interpress, 2024. http://dx.doi.org/10.22495/cgpmpp10.

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This study examines the effect of foreign ownership on firm value by affecting corporate policies as a corporate governance monitoring mechanism and contributes to the literature on the role of foreign shareholdings which are especially important for emerging markets in three stands: increased level of board independence which serves to eliminate the conflicts of interest among different stakeholders within a company, a dividend policy disciplining the management of free cash flows and an investment policy focusing on more research and development (innovation), enabling high growth opportuniti
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"The Effect of State Ownership and Independent Board of Commissioners Toward Dividend Policy Moderating with Political Connections." In July 25-27, 2018 Bali (Indonesia). Emirates Research Publishing, 2018. http://dx.doi.org/10.17758/erpub2.er0718411.

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Pyrialakou, V. Dimitra, and Konstantina “Nadia” Gkritza. "Exploring the Opinions of Passenger Rail Riders: Evidence From the Hoosier State Train." In 2016 Joint Rail Conference. American Society of Mechanical Engineers, 2016. http://dx.doi.org/10.1115/jrc2016-5778.

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Ridership on Midwest passenger rail lines has been steadily increasing over the past two decades. Between 2005 and 2014, there has been a growth of more than 65 percent, much higher than the national average (approximately 30 percent for the same years). Nevertheless, a number of lines have discontinued their services or are in danger of discontinuance. For example, Kentucky Cardinal, operating between Chicago, Illinois and Louisville, Kentucky was discontinued in 2003, and the Three Rivers train, operating between Chicago, Illinois and New York, New York was discontinued in 2005. The Hoosier
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Hogg, Chris, and Peter Matthews. "Establishing the Performance Requirements of Rail Vehicle Glazed Bodyside Units: A Suppliers Perspective." In 2010 Joint Rail Conference. ASMEDC, 2010. http://dx.doi.org/10.1115/jrc2010-36059.

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In the last 7 significant accidents on the railways in GB there have been 60 passenger fatalities. 14 of these have been caused by ejection (passengers being thrown from the train during the course of the collision). One additional fatality was attributed to an object entering the carriage through the train window. In total there have been 26 ejections with over 50% resulting in fatality. The trend has been towards higher speed incidents involving vehicles overturning. The authority responsible for setting Safety Standards and, conducting research on behalf of the Train Operators and Stakehold
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Reports on the topic "Policy board independence"

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Hertel, Thomas, Alla Golub, Andrew Jones, Michael O'Hare, Richard Plevin, and Daniel Kammen. Global Land Use and Greenhouse Gas Emissions Impacts of U.S. Maize Ethanol: The Role of Market-Mediated Responses. GTAP Working Paper, 2009. http://dx.doi.org/10.21642/gtap.wp55.

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With the recent adoption by the California Air Resources Board of California’s Low Carbon Fuel Standard, and USEPA’s Energy Independence and Security Act, greenhouse gas releases from indirect land use change triggered by crop-based biofuels have taken center stage in the debate over the role of biofuels in climate policy and energy security. This paper presents an analysis of these releases for US maize ethanol. Our analysis highlights the key role of market-mediated responses to biofuels mandates. Factoring these into our analysis reduces cropland conversion by 72%. As a consequence the asso
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Ocampo-Gaviria, José Antonio, Roberto Steiner Sampedro, Mauricio Villamizar Villegas, et al. Report of the Board of Directors to the Congress of Colombia - March 2023. Banco de la República de Colombia, 2023. http://dx.doi.org/10.32468/inf-jun-dir-con-rep-eng.03-2023.

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Banco de la República is celebrating its 100th anniversary in 2023. This is a very significant anniversary and one that provides an opportunity to highlight the contribution the Bank has made to the country’s development. Its track record as guarantor of monetary stability has established it as the one independent state institution that generates the greatest confidence among Colombians due to its transparency, management capabilities, and effective compliance with the central banking and cultural responsibilities entrusted to it by the Constitution and the Law. On a date as important as this,
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Elliott, Victoria, Elena Costas-Perez, Karl Truong, Monika Huppi, Maria-Valeria Junho Pena, and William L. Partridge. IDB-9: Independent Consultation and Investigation Mechanism (ICIM). Inter-American Development Bank, 2012. http://dx.doi.org/10.18235/0010519.

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This evaluation of the IDB's Independent Consultation and Investigation Mechanism (ICIM, more commonly known by its Spanish acronym MICI) responds to two separate mandates. First, the policy establishing MICI stipulates that "two years after the effective date of the Mechanism, the Board shall request an independent evaluation of the mechanism." The Board requested that the Office of Evaluation and Oversight (OVE) undertake that evaluation. Second, in the context of the evaluation of IDB's Ninth Capital Increase (IDB-9), OVE was asked to review the implementation of the IDB-9 mandates. One of
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Truong, Karl, Monika Huppi, Victoria Elliott, and Elena Costas-Perez. Approach Paper: Evaluation of the Independent Consultation and Investigation Mechanism. Inter-American Development Bank, 2012. http://dx.doi.org/10.18235/0010420.

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This approach paper describes the scope of the evaluation of the Independent Consultation and Investigation Mechanism (ICIM) by the IDB's Office of Evaluation and Oversight. The forthcoming evaluation responds to two separate mandates: (i) The policy establishing ICIM stipulates that "two years after the effective date of the Mechanism, the Board shall request an independent evaluation of the Mechanism. On the basis of such evaluation, and any comments thereon from Management, the Board will assess the experience with the Mechanism". The Board has requested that OVE undertake this evaluation;
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Elliott, Victoria, Elena Costas-Perez, Karl Truong, Maria-Valeria Junho Pena, and William L. Partridge. Evaluation of the Independent Consultation and Investigation Mechanism (ICIM). Inter-American Development Bank, 2012. http://dx.doi.org/10.18235/0010501.

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This evaluation of the Inter-American Development Bank's Independent Consultation and Investigation Mechanism (ICIM, more commonly known by its Spanish acronym MICI) responds to two separate mandates. First, the policy establishing MICI stipulates that "two years after the effective date of the Mechanism, the Board shall request an independent evaluation of the mechanism." The Board requested that the Office of Evaluation and Oversight (OVE) undertake that evaluation. Second, in the context of the evaluation of IDB's Ninth Capital Increase (IDB-9), OVE was asked to review the implementation of
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Sembler, Jose Ignacio, Ana María Linares, Clara Schettino, et al. Evaluation of the Independent Consultation and Investigation Mechanism (MICI) 2021. Inter-American Development Bank, 2021. http://dx.doi.org/10.18235/0003215.

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This evaluation is in response to a request from the Boards of Executive Directors of the IDB and IDB Invest for OVE to independently examine the MICI policy and its implementation pursuant to the requirement established in the respective policies of each institution. The aim of this evaluation is to inform the Boards of Executive Directors of the IDB and IDB Invest on the extent to which, under its current policy framework, the MICI has been effective and efficient in (i) resolving the complaints it receives concerning environmental and social impacts of projects due to alleged noncompliance
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Suarez, David, Juan Manuel Puerta, Thomas Reichmann, Juan Carlos Di Tata, and Cheryl Gray. IDB-9: Macroeconomic Sustainability Assessments. Inter-American Development Bank, 2013. http://dx.doi.org/10.18235/0009099.

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One of the most debated parts of the IDB-9 Agreement was the requirement that the Inter-American Development Bank (IDB or Bank) enhance its macroeconomic analysis and link it to its country programming to avoid lending in unsustainable macroeconomic situations. The IDB-9 Agreement mandated that the Chief Economist prepare annual Macroeconomic Sustainability Assessments for each borrowing country and that a positive judgment on sustainability is one of the prerequisites, among others, for maintaining the Bank's aggregate exposure with the country including both sovereign and non-sovereign opera
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Liebenthal, Andres, Lynn Scholl, and Monika Huppi. IDB-9: Environmental and Social Safeguards, Including Gender Policy. Inter-American Development Bank, 2013. http://dx.doi.org/10.18235/0010530.

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This paper reviews to what extent and how effectively the Inter-American Development Bank (IDB, or Bank) is implementing the IDB-9 requirements pertaining to environmental and social safeguards policies. The Bank's commitment to sustainability is enshrined in the Environmental and Safeguards Compliance Policy and policies addressing social concerns: involuntary resettlement, indigenous peoples, and gender equality. Each policy promotes sustainability through a two-pronged approach: mainstreaming of environmental and social concerns, and safeguards. The IDB-9 requirements called on the Bank to
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Bolton, Laura. Global Health Funds and Humanitarian Programming. Institute of Development Studies, 2022. http://dx.doi.org/10.19088/k4d.2022.144.

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There is a lack of reporting on the connection between Humanitarian Country Team Health Clusters and the three funds (the Global Fund, the Gavi Alliance, and the Global Financing Facility (GFF)), both generally and for the three countries of focus (Mozambique, Uganda, and Nigeria). The Global Fund is noted to partner with the Global Health Cluster but details were not identified within the scope of this report. Global Fund A Global Fund board meeting report and a review of Fund investments in challenging operating environments notes partnering and joining with the Global Health Clusters but do
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Independent Consultation and Investigation Mechanism: 2013 Annual Report. Inter-American Development Bank, 2014. http://dx.doi.org/10.18235/0005888.

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The operation of the Independent Consultation and Investigation Mechanism (ICIM) saw the convergence of a number of significant milestones in 2013. Based on the findings and recommendations of an evaluation report by the IDB Office of Evaluation and Oversight (OVE) in 2012, the year began with the decision of the Board OF Executive Directors to initiate a process of adjustment to the ICIM Policy and its operating structure. This work, including the implementation of a process of public consultation, was commissioned to an independent expert.In addition, 2013 marked the end of the ICIMs pilot p
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